XML 29 R28.htm IDEA: XBRL DOCUMENT
v2.4.1.9

STRUCTURED FINANCINGS, NET (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2015
Mortgage Loans on Real Estate [Abstract] |
Schedule of Accounts, Notes, Loans and Financing Receivable | As of March 31, 2015, the Company’s structured financing portfolio, net consisted of notes receivable and preferred equity investments, aggregating $98.6 million. These investments were collateralized either by underlying properties, the borrowers' ownership interests in the entities that own properties and/or by the borrowers' personal guarantee subject, as applicable, to senior liens, as follows:
(dollars in thousands) |  |  |  |  |  |
Description |  | Effective interest rate (1) |  | First Priority liens |  | Net Carrying Amounts of Notes Receivable as of March 31, 2015 |  | Net Carrying Amounts of Notes Receivable as of December 31, 2014 |  | Maturity date |  | Extension Options
First Mortgage Loan |  | 7.7% |  |  |  | $ | 12,000 |  |  | $ | 12,000 |  |  | Demand |  |
Mezzanine Loan |  | 12.7% |  | 18,900 |  |  | 8,000 |  |  | 8,000 |  |  | 10/3/2015 |  |
First Mortgage Loan |  | 8.8% |  |  |  | 7,500 |  |  | 7,500 |  |  | 10/31/2015 |  | 1 x 12 Months
Zero Coupon Loan (2) |  | 24.0% |  | 166,200 |  |  | 5,149 |  |  | 4,986 |  |  | 1/3/2016 |  |
First Mortgage Loan |  | 5.5% |  |  |  | 4,000 |  |  | 4,000 |  |  | 4/1/2016 |  | 1 x 6 Months
Preferred Equity |  | 13.5% |  |  |  | 4,000 |  |  | 4,000 |  |  | 5/9/2016 |  |
Other |  | 18.0% |  |  |  | 3,457 |  |  | 3,307 |  |  | 7/1/2017 |  |
Preferred Equity |  | 8.1% |  | 20,855 |  |  | 13,000 |  |  | 13,000 |  |  | 9/1/2017 |  |
Other |  | 15.0% |  |  |  | 30,879 |  |  | 30,879 |  |  | 11/9/2020 |  |
Other |  | LIBOR + 2.5% |  |  |  | — |  |  | 4,000 |  |  | 12/30/2020 |  |
Mezzanine Loan (3) |  | 10.0% |  | 87,477 |  |  | 7,983 |  |  | 7,983 |  |  | Demand |  |
Individually less than 3% (4) |  | 3.9% to 11.6% |  |  |  |  | 2,592 |  |  | 2,631 |  |  | 12/31/2015 to 5/1/2024 |  |
Total |  |  |  |  |  | $ | 98,560 |  |  | $ | 102,286 |  |  |  |  |
Notes: (1) Includes origination and exit fees (2) The principal balance for this accrual-only loan is increased by the interest accrued (3) Comprised of three cross-collateralized loans from one borrower, which are non-performing (4) Consists of two loans as of March 31, 2015

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