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Schedule IV - Mortgage Loans on Real Estate
 12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Text Block]

 

KIMCO REALTY CORPORATION AND SUBSIDIARIES

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE

As of December 31, 2020

(in thousands)

 

 

Description

 

Interest

Rate

 

Final Maturity

Date

Periodic Payment

Terms (a)

 

Prior Liens

  

Original Face

Amount

of Mortgages

  

Carrying Amount of Mortgages (b)

  

Principal Amount of

Loans Subject to

Delinquent Principal

or Interest

 

Mortgage Loans:

                      

Retail

                      

Las Vegas, NV

  12.00%

May-33

I

 $-  $3,075  $3,075  $- 

Walker, MI

  4.00%

Dec-24

P& I

  -   3,750   3,671   - 

Pompano, FL

  12.00%

Dec-22

I

      25,000   25,000   - 

Mesa, AZ

  12.00%

Aug-21

I

      500   500   - 
                       

Nonretail

                      

Commack, NY

  7.41%

Oct-26

P& I

  -   1,354   256   - 

Melbourne, FL

  6.88%

Dec-30

P&I

      500   244   - 
                       

Other Financing Loans:

                      

Nonretail

                      

Borrower A

  2.28%

Apr-27

P& I

      600   305   - 

Borrower B

  5.00%

May-20

P&I

      175   125   - 
                       

Allowance for Credit losses:

            -   (930)  - 
                       
        $-  $34,954  $32,246  $- 

 

(a) I = Interest only; P&I = Principal & Interest.

                                      

(b) The aggregate cost for Federal income tax purposes was approximately $32.2 million as of December 31, 2020.

                          

 

For a reconciliation of mortgage and other financing receivables from January 1, 2018 to December 31, 2020, see Footnote 12 of the Notes to the Consolidated Financial Statements included in this Form 10-K.

 

The Company feels it is not practicable to estimate the fair value of each receivable as quoted market prices are not available.  

The cost of obtaining an independent valuation on these assets is deemed excessive considering the materiality of the total receivables.