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Schedule IV - Mortgage Loans on Real Estate | 12 Months Ended
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Dec. 31, 2024
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract] |
Schedule IV - Mortgage Loans on Real Estate | KIMCO REALTY CORPORATION AND SUBSIDIARIES AND KIMCO REALTY OP, LLC AND SUBSIDIARIES SCHEDU LE IV - MORTGAGE LOANS ON REAL ESTATE As of December 31, 2024 (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 1st Mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
San Antonio, TX |  |  | 9.00 | % |  | Jun-25 |  | I |  | $ | - |  |  | $ | 146,158 |  |  | $ | 146,158 |  |  | $ | - |
Individually < 3% (c) (d) |  | (e) |  |  | (f) |  | I |  |  | - |  |  |  | 42,589 |  |  |  | 38,888 |  |  |  | - |
Retail 2nd Mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
San Antonio, TX |  |  | 12.00 | % |  | Jun-34 |  | I |  |  | - |  |  |  | 50,219 |  |  |  | 50,219 |  |  |  | - |
San Antonio, TX |  |  | 11.00 | % |  | Sep-27 |  | I |  |  | - |  |  |  | 21,500 |  |  |  | 19,758 |  |  |  | - |
Euless, TX |  |  | 10.00 | % |  | Jun-29 |  | I |  |  | - |  |  |  | 19,600 |  |  |  | 19,600 |  |  |  | - |
Lynwood, CA |  |  | 9.00 | % |  | Jul-25 |  | I |  |  | - |  |  |  | 16,462 |  |  |  | 16,462 |  |  |  | - |
Jacksonville, FL |  |  | 10.00 | % |  | Nov-26 |  | I |  |  | - |  |  |  | 15,000 |  |  |  | 15,000 |  |  |  | - |
Fairfax, VA |  |  | 8.00 | % |  | May-29 |  | I |  |  | - |  |  |  | 14,000 |  |  |  | 14,000 |  |  |  | - |
Individually < 3% (g) |  | (h) |  |  | (i) |  | I |  |  | - |  |  |  | 132,901 |  |  |  | 129,164 |  |  |  | - |
Nonretail |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually < 3% (j) |  | (k) |  |  | (l) |  | P&I; PIK |  |  | - |  |  |  | 3,854 |  |  |  | 2,238 |  |  |  | - |
Other Financing Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nonretail |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrower A |  |  | 7.00 | % |  | Mar-31 |  | P&I |  |  | - |  |  |  | 397 |  |  |  | 279 |  |  |  | - |
Allowance for Credit losses: |  |  |  |  |  |  |  |  |  | - |  |  |  | - |  |  |  | (6,800 | ) |  |  | - |
|  |  |  |  |  |  |  |  | $ | - |  |  | $ | 462,680 |  |  | $ | 444,966 |  |  | $ | - |
(a) I = Interest only; P&I = Principal & Interest; PIK = Paid in Kind at Maturity. (b) The aggregate cost for Federal income tax purposes was approximately $445.0 million as of December 31, 2024. (c) Comprised of four separate loans with original loan amounts ranging from $5.3 million to $13.0 million. (d) There was an outstanding undrawn mortgage loan balance of $3.7 million as of December 31, 2024, for which the Company earns interest at a rate of 1.0% annum. (e) Interest rates range from 6.35% to 11.00%. (f) Maturity dates range from August 2028 to March 2034. (g) Comprised of 16 separate loans with original loan amounts ranging from $3.1 million to $12.5 million. (h) Interest rates range from 7.00% to 14.00%. (i) Maturity dates range from June 2025 to October 2053. (j) Comprised of three separate loans with original loan amounts ranging from $0.5 million to $2.0 million. (k) Interest rates range from 6.88% to 12.00%. (l) Maturity dates range from October 2026 to December 2030. The Company reviews payment status to identify performing versus non-performing loans. As of December 31, 2024, the Company had a total of 31 loans, all of which are performing. The Company monitors the credit quality of its notes receivable on an ongoing basis and considers indicators of credit quality such as loan payment activity, the estimated fair value of the underlying collateral, the personal guarantees of the borrower and the prospects of the borrower. The following table reconciles mortgage loans and other financing receivables from January 1, 2022 to December 31, 2024 (in thousands):
|  | 2024 |  |  | 2023 |  |  | 2022 |
Balance at January 1, | $ |  | 130,745 |  | $ |  | 87,359 |  | $ |  | 73,102 |
Additions: |  |  |  |  |  |  |  |  |
New mortgage and other loans |  |  | 428,121 |  |  |  | 43,519 |  |  |  | 75,063 |
Deductions: |  |  |  |  |  |  |  |  |
Loan repayments |  |  | (108,297 | ) |  |  | (35 | ) |  |  | (60,211 | )
Collections of principal |  |  | (103 | ) |  |  | (98 | ) |  |  | (95 | )
Allowance for credit losses |  |  | (5,500 | ) |  | - |  |  |  | (500 | )
Other adjustments |  | - |  |  | - |  |  | - |
Balance at December 31, | $ |  | 444,966 |  | $ |  | 130,745 |  | $ |  | 87,359 |

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- Definition The entire disclosure for investment in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate. Includes, but is not limited to, information for each mortgage loan receivable equaling or exceeding 3 percent of carrying amount of mortgage. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 29 -Publisher SEC Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 948 -SubTopic 310 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-29) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479628/948-310-S99-1 + Details
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