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Notes and Other Receivables (Tables) | 6 Months Ended
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Jun. 30, 2020
Receivables [Abstract] |
Notes and other receivables | Notes and other receivables consist of the following as of June 30, 2020 and December 31, 2019 ($ in thousands):
| June 30, 2020 |  | December 31, 2019
Note receivable, secured, bearing interest at 9.00%, due May 2021 (Originated May 2017) (1) | $ | — |  |  | $ | 16,828 |
Note receivable, secured, bearing interest at 9.90%, due November 2021 (Originated November 2018) | 13,506 |  |  | 12,838 |
Related party note receivable, secured, bearing variable rate interest, due February 2020 (Originated November 2019) (2)(3) | — |  |  | 85,713 |
Notes receivable, secured, bearing interest at 11.00%, due October 2023 (Originated April 2020) | 6,582 |  |  | — |
Notes and other receivables from affiliates (4) | 5,156 |  |  | 4,442 |
Other receivables | 19,604 |  |  | 14,544 |
Allowance for credit losses | (100 | ) |  | — |
Total notes and other receivables | $ | 44,748 |  |  | $ | 134,365 |
(1) In January 2020, the Company received cash of $16.9 million from the payoff of this note receivable. (2) See Note 6, Related Party Transactions, for additional details. (3) In January 2020, the Company received cash of $85.8 million from the payoff of this note receivable. (4) These amounts consist of short-term loans outstanding and due from various joint ventures as of June 30, 2020 and December 31, 2019. See Note 6, Related Party Transactions, for additional details.
Schedule of allowance for credit loss | The following table presents the allowance for credit losses rollforward for the mortgage backed security ($ in thousands):
Balance at December 31, 2019 | $ | — |
Impact of adoption ASC 326 (1) | 13,644 |
Provision for credit losses | — |
Balance at June 30, 2020 | $ | 13,644 |
(1) As part of the adoption of ASC 326, effective January 1, 2020, the Company recorded a gross up of the mortgage backed security and related allowance for credit losses of $13.6 million. This gross up had no effect on the Company's consolidated results of operations or financial position. The following table presents the activity in the allowance for credit losses for notes and other receivables by loan type ($ in thousands):
| Mezzanine Loans |  | Bridge Loans |  | Total
Balance at December 31, 2019 | $ | — |  |  | $ | — |  |  | $ | — |
Impact of adoption ASC 326 | 147 |  |  | 43 |  |  | 190 |
Provision for credit losses | (47 | ) |  | (43 | ) |  | (90 | )
Balance at June 30, 2020 | $ | 100 |  |  | $ | — |  |  | $ | 100 |

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- Definition Tabular disclosure of allowance for credit loss on financing receivable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -URI http://asc.fasb.org/extlink&oid=121611835&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919249-210447 + Details
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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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