Financial report context:
56 / 57 management 2019s discussion and analysis of financial condition and results of operations junior subordinate deferrable interest debentures in june 2005 , we issued $ 100.0 a0million of trust preferred securities , which are reflected on the balance sheet as junior subordinate deferrable interest debentures . the proceeds were used to repay our revolving credit facility . the $ 100.0 a0million of junior subordi- nate deferrable interest debentures have a 30-year term ending july 2035 . they bear interest at a fixed rate of 5.61% ( 5.61 % ) for the first 10 years ending july 2015 . thereafter , the rate will float at three month libor plus 1.25% ( 1.25 % ) . the securities are redeemable at par . restrictive covenants the terms of the 2011 revolving credit facility and certain of our senior unsecured notes include certain restrictions and covenants which may limit , among other things , our ability to pay dividends ( as discussed below ) , make certain types of investments , incur additional indebtedness , incur liens and enter into negative pledge agreements and the disposition of assets , and which require compliance with financial ratios including our minimum tangible net worth , a maximum ratio of total indebtedness to total asset value , a minimum ratio of ebitda to fixed charges and a maximum ratio of unsecured indebtedness to unencumbered asset value . the dividend restriction referred to above provides that we will not during any time when we are in default , make distributions with respect to common stock or other equity interests , except to enable us to continue to qualify as a reit for federal income tax purposes . as of december a031 , 2011 and 2010 , we were in compli- ance with all such covenants . market rate risk we are exposed to changes in interest rates primarily from our floating rate borrowing arrangements . we use interest rate deriv- ative instruments to manage exposure to interest rate changes . a a0hypothetical 100 a0basis point increase in interest rates along the entire interest rate curve for 2011 and 2010 , would increase our annual interest cost by approximately $ 12.3 a0million and $ 11.0 a0mil- lion and would increase our share of joint venture annual interest cost by approximately $ 4.8 a0million and $ 6.7 a0million , respectively . we recognize all derivatives on the balance sheet at fair value . derivatives that are not hedges must be adjusted to fair value through income . if a derivative is a hedge , depending on the nature of the hedge , changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset , liability , or firm commitment through earnings , or recognized in other comprehensive income until the hedged item is recognized in earnings . the ineffective portion of a derivative 2019s change in fair value is recognized immediately in earnings . approximately $ 4.8 a0billion of our long- term debt bore interest a0at fixed rates , and therefore the fair value of these instru- ments is affected by changes in the market interest rates . the interest rate on our variable rate debt and joint venture debt as of december a031 , 2011 ranged from libor plus 150 a0basis points to libor plus 350 a0basis points . contractual obligations combined aggregate principal maturities of mortgages and other loans payable , our 2011 revolving credit facility , senior unsecured notes ( net of discount ) , trust preferred securities , our share of joint venture debt , including as- of-right extension options , estimated interest expense ( based on weighted average interest rates for the quarter ) , and our obligations under our capital lease and ground leases , as of december a031 , 2011 are as follows ( in thousands ) : .

Financial table:
2012: property mortgages; 2013: $ 52443; 2014: $ 568649; 2015: $ 647776; 2016: $ 270382; thereafter: $ 556400; total: $ 2278190; column_8: $ 4373840
2012: revolving credit facility; 2013: 2014; 2014: 2014; 2015: 2014; 2016: 2014; thereafter: 350000; total: 2014; column_8: 350000
2012: trust preferred securities; 2013: 2014; 2014: 2014; 2015: 2014; 2016: 2014; thereafter: 2014; total: 100000; column_8: 100000
2012: senior unsecured notes; 2013: 119423; 2014: 2014; 2015: 98578; 2016: 657; thereafter: 274804; total: 777194; column_8: 1270656
2012: capital lease; 2013: 1555; 2014: 1555; 2015: 1555; 2016: 1592; thereafter: 1707; total: 42351; column_8: 50315
2012: ground leases; 2013: 33429; 2014: 33429; 2015: 33429; 2016: 33429; thereafter: 33533; total: 615450; column_8: 782699
2012: estimated interest expense; 2013: 312672; 2014: 309280; 2015: 269286; 2016: 244709; thereafter: 212328; total: 470359; column_8: 1818634
2012: joint venture debt; 2013: 176457; 2014: 93683; 2015: 123983; 2016: 102476; thereafter: 527814; total: 800102; column_8: 1824515
2012: total; 2013: $ 695979; 2014: $ 1006596; 2015: $ 1174607; 2016: $ 653245; thereafter: $ 1956586; total: $ 5083646; column_8: $ 10570659

Additional report context:
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Question: what percentage of total obligations is the property mortgages and ground leases obligations?
Answer: 5156539