XML 45 R29.htm IDEA: XBRL DOCUMENT
v2.4.0.8

NOTES RECEIVABLE (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2013
Mortgage Loans on Real Estate [Abstract] |
Schedule of Accounts, Notes, Loans and Financing Receivable | As of September 30, 2013, the Company’s notes receivable, net, aggregated $95.4 million, and were collateralized either by the underlying properties or the borrowers' ownership interests in the entities that own the properties and/or by the borrowers' personal guarantee subject, as applicable, to senior liens, as follows:
(dollars in thousands) |  |  |  |
Note description | Effective interest rate (1) | First Priority liens | Net Carrying Amounts of Notes Receivable as of September 30, 2013 |  | Net Carrying Amounts of Notes Receivable as of December 31, 2012 | Maturity date | Extension Options
First Mortgage Loan | 12.0% | $ | — |  | $ | 12,204 |  |  | $ | 12,333 |  | 12/1/2013 | — |
First Mortgage Loan | 6.0% | — |  | — |  |  | 10,250 |  | 12/31/2013 | — |
First Mortgage Loan | 8.0% | — |  | 8,000 |  |  | 8,000 |  | 12/31/2013 | — |
Mezzanine Loan 2 | 10.0% | 89,566 |  | 9,089 |  |  | 9,089 |  | 12/31/2013 | — |
First Mortgage Loan | 11.0% | — |  | 25,000 |  |  | 25,000 |  | 1/1/2014 | 1 x 6 months |
Zero Coupon Loan 3 | 24.0% | 166,200 |  | 4,314 |  |  | 3,961 |  | 1/3/2016 | — |
Mezzanine Loan | 15.0% | — |  | 30,879 |  |  | 30,879 |  | 11/9/2020 | — |
Mezzanine Loan 4 | 15.0% | 16,668 |  | 3,834 |  |  | 3,834 |  | Upon Capital Event | — |
First Mortgage Loan | 5.3% | — |  | — |  |  | 18,500 |  | Demand | — |
Construction Loan | 20.5% | — |  | — |  |  | 5,400 |  | 12/31/2012 | — |
Individually less than 3% 5 | 11.6% to 17.5% | 37,623 |  | 2,032 |  |  | 2,032 |  | 12/31/13 to Capital Event | — |
Total |  |  | $ | 95,352 |  |  | $ | 129,278 |  |  |  |
Notes: (1) The effective interest rate includes origination and exit fees. (2) Comprised of three cross-collateralized loans from one borrower, which are non-performing (3) The principal balance for this accrual only loan is increased by the interest accrued (4) Non-performing loan (5) Consists of three loans two of which are non-performing, with an aggregate face value of $5.7 million, of which $3.9 million has been reserved
Allowance for Notes Receivable |
(dollars in thousands) | Allowance for Notes Receivable
Balance at December 31, 2012 | $ | 3,681 |
Additional reserves | 238 |
Recoveries | — |
Charge-offs and reclassifications | — |
Balance at September 30, 2013 | $ | 3,919 |

X
- Definition Tabular disclosure of financing receivables (examples of financing receivables include loans, trade accounts receivable and notes receivable) and activity in the allowance for credit losses account. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -URI http://asc.fasb.org/extlink&oid=28368275&loc=SL6953423-111524 + Details
Name: | us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_MortgageLoansOnRealEstateAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/presentationRef -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=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 3, 4 -Article 5 + Details
Name: | us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration