off-balance-sheet arrangements we have a number of off-balance-sheet investments , including joint ven- tures and debt and preferred equity investments . these investments all have varying ownership structures . substantially all of our joint venture arrangements are accounted for under the equity method of accounting as we have the ability to exercise significant influence , but not control over the operating and financial decisions of these joint venture arrange- ments . our off-balance-sheet arrangements are discussed in note a0 5 , 201cdebt and preferred equity investments 201d and note a0 6 , 201cinvestments in unconsolidated joint ventures 201d in the accompanying consolidated finan- cial statements . additional information about the debt of our unconsoli- dated joint ventures is included in 201ccontractual obligations 201d below . capital expenditures we estimate that , for the year ending december a031 , 2011 , we will incur approximately $ 120.5 a0 million of capital expenditures , which are net of loan reserves ( including tenant improvements and leasing commis- sions ) , on existing wholly-owned properties , and that our share of capital expenditures at our joint venture properties , net of loan reserves , will be approximately $ 23.4 a0million . we expect to fund these capital expen- ditures with operating cash flow , additional property level mortgage financings and cash on hand . future property acquisitions may require substantial capital investments for refurbishment and leasing costs . we expect that these financing requirements will be met in a similar fashion . we believe that we will have sufficient resources to satisfy our capital needs during the next 12-month period . thereafter , we expect our capital needs will be met through a combination of cash on hand , net cash provided by operations , borrowings , potential asset sales or addi- tional equity or debt issuances . above provides that , except to enable us to continue to qualify as a reit for federal income tax purposes , we will not during any four consecu- tive fiscal quarters make distributions with respect to common stock or other equity interests in an aggregate amount in excess of 95% ( 95 % ) of funds from operations for such period , subject to certain other adjustments . as of december a0 31 , 2010 and 2009 , we were in compliance 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 derivative instruments to manage exposure to interest rate changes . a hypothetical 100 basis point increase in interest rates along the entire interest rate curve for 2010 and 2009 , would increase our annual interest cost by approximately $ 11.0 a0mil- lion and $ 15.2 a0million and would increase our share of joint venture annual interest cost by approximately $ 6.7 a0million and $ 6.4 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 deriva- tive 2019s change in fair value is recognized immediately in earnings . approximately $ 4.1 a0billion of our long-term debt bore interest at fixed rates , and therefore the fair value of these instruments 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 , 2010 ranged from libor plus 75 basis points to libor plus 400 basis points . contractual obligations combined aggregate principal maturities of mortgages and other loans payable , our 2007 unsecured 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 and ground leases , as of december a031 , 2010 , are as follows ( in thousands ) : .

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• , 2011, 2012, 2013, 2014, 2015, thereafter, total
• property mortgages, $ 246615, $ 143646, $ 656863, $ 208025, $ 260433, $ 1884885, $ 3400467
• revolving credit facility, 2014, 650000, 2014, 2014, 2014, 2014, 650000
• trust preferred securities, 2014, 2014, 2014, 2014, 2014, 100000, 100000
• senior unsecured notes, 84823, 123171, 2014, 98578, 657, 793316, 1100545
• capital lease, 1555, 1555, 1555, 1555, 1593, 44056, 51869
• ground leases, 28929, 28179, 28179, 28179, 28179, 552421, 694066
• estimated interest expense, 265242, 245545, 221161, 197128, 177565, 355143, 1461784
• joint venture debt, 207738, 61491, 41415, 339184, 96786, 857305, 1603919
• total, $ 834902, $ 1253587, $ 949173, $ 872649, $ 565213, $ 4587126, $ 9062650
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48 sl green realty corp . 2010 annual report management 2019s discussion and analysis of financial condition and results of operations .

Question: in 2011 what was the percent of the total contractual obligations associated with property mortgages
Program: divide(246615, 834902)
Answer: 0.29538