vornado realty trust72 ( 6 ) on june 21 , 2002 , one of the lenders purchased the other participant 2019s interest in the loan . at the same time , the loan was extended for one year , with certain modifications , including ( i ) making the risk of a loss due to terrorism ( as defined ) not covered by insurance recourse to the company and ( ii ) the granting of two 1-year renewal options to the company . ( 7 ) on november 25 , 2003 , the company completed an offering of $ 200000 , aggregate principal amount of 4.75% ( 4.75 % ) senior unsecured notes due december 1 , 2010 . interest on the notes is payable semi-annually on june 1st and december 1st , commencing in 2004 . the notes were priced at 99.869% ( 99.869 % ) of their face amount to yield 4.772% ( 4.772 % ) . the notes contain the same financial covenants that are in the company 2019s notes issued in june 2002 , except the maximum ratio of secured debt to total assets is now 50% ( 50 % ) ( previously 55% ( 55 % ) ) . the net proceeds of approximately $ 198500 were used primarily to repay existing mortgage debt . ( 8 ) on july 3 , 2003 , the company entered into a new $ 600000 unsecured revolving credit facility which has replaced its $ 1 billion unsecured revolving credit facility which was to mature in july 2003 . the new facility has a three-year term , a one-year extension option and bears interest at libor plus .65% ( .65 % ) . the company also has the ability under the new facility to seek up to $ 800000 of commitments during the facility 2019s term . the new facility contains financial covenants similar to the prior facility . the net carrying amount of properties collateralizing the notes and mortgages amounted to $ 4557065000 at december 31 , 2003 . as at december 31 , 2003 , the principal repayments required for the next five years and thereafter are as follows : ( amounts in thousands ) .

Table:
year ending december 31, | amount
2004 | $ 296184
2005 | 357171
2006 | 551539
2007 | 807784
2008 | 378841
thereafter | 1672866
8 .
shareholders 2019 equity common shares of beneficial interest on february 25 , 2002 , the company sold 1398743 common shares based on the closing price of $ 42.96 on the nyse .
the net proceeds to the company were approximately $ 56453000 .
series a preferred shares of beneficial interest holders of series a preferred shares of beneficial interest are entitled to receive dividends in an amount equivalent to $ 3.25 per annum per share .
these dividends are cumulative and payable quarterly in arrears .
the series a preferred shares are convertible at any time at the option of their respective holders at a conversion rate of 1.38504 common shares per series a preferred share , subject to adjustment in certain circumstances .
in addition , upon the satisfaction of certain conditions the company , at its option , may redeem the $ 3.25 series a preferred shares at a current conversion rate of 1.38504 common shares per series a preferred share , subject to adjustment in certain circumstances .
at no time will the series a preferred shares be redeemable for cash .
series b preferred shares of beneficial interest holders of series b preferred shares of beneficial interest are entitled to receive dividends at an annual rate of 8.5% ( 8.5 % ) of the liquidation preference , or $ 2.125 per series b preferred share per annum .
these dividends are cumulative and payable quarterly in arrears .
the series b preferred shares are not convertible into or exchangeable for any other property or any other securities of the company at the election of the holders .
however , subject to certain limitations relating to the source of funds used in connection with any such redemption , on or after march 17 , 2004 ( or sooner under limited circumstances ) , the company , at its option , may redeem series b preferred shares at a redemption price of $ 25.00 per share , plus any accrued and unpaid dividends through the date of redemption .
the series b preferred shares have no maturity date and will remain outstanding indefinitely unless redeemed by the company .
on february 17 , 2004 , the company has called for the redemption of all of the outstanding series b preferred shares .
the shares will be redeemed on march 17 , 2004 at the redemption price of $ 25.00 per share , aggregating $ 85000000 plus accrued dividends .
the redemption amount exceeds the carrying amount by $ 2100000 , representing original issuance costs .
notes to consolidated financial statements sr-176_fin_l02p53_82v1.qxd 4/8/04 2:17 pm page 72 .

Question: as of 2013 , principal payments required in 2008 were what percent of those due after 5 years?
Answer: 22.6%
Calculation: divide(378841, 1672866)