XML 24 R12.htm IDEA: XBRL DOCUMENT
v3.19.2

Notes Receivable, Net | 6 Months Ended
--- | ---
Jun. 30, 2019
Accounts And Notes Receivable Net [Abstract] |
Notes Receivable, Net | 3. Notes Receivable, Net The Company’s notes receivable, net were generally collateralized either by the underlying properties or the borrower’s ownership interest in the entities that own the properties, and were as follows (dollars in thousands):
|  | June 30, |  |  | December 31, |  |  | June 30, 2019 |
Description |  | 2019 |  |  | 2018 |  |  | Number |  |  | Maturity Date |  | Interest Rate |
Core Portfolio |  | $ | 56,475 |  |  | $ | 56,475 |  |  |  | 2 |  |  | Oct 2019 - Apr 2020 |  | 6.0% - 8.1% |
Fund II |  |  | 32,881 |  |  |  | 32,582 |  |  |  | 1 |  |  | Dec 2020 |  | 1.75% |
Fund III |  |  | 5,306 |  |  |  | 5,306 |  |  |  | 1 |  |  | Jul 2020 |  | 18.0% |
Fund IV |  |  | — |  |  |  | 15,250 |  |  |  | — |  |  | Feb 2021 |  | 15.3% |
|  | $ | 94,662 |  |  | $ | 109,613 |  |  |  | 4 |  |  |  |  |  |  |
During the six months ended June 30, 2019, the Company:
| • | increased the balance of a Fund II note receivable by the interest accrued of $0.3 million;
| • | redeemed its $15.25 million Fund IV investment plus accrued interest of $10.0 million;
| • | stopped accruing interest on one loan, due to the estimated market value of the collateral. The note had $4.7 million of accrued interest at each of December 31, 2018 and June 30, 2019; and
| • | extended the maturity for Brandywine’s note receivable to October 31, 2019.
During the year ended December 31, 2018, the Company:
| • | exchanged $22.0 million of a Core note receivable plus accrued interest thereon of $0.3 million for an additional undivided interest in the Town Center property (Note 4);
| • | received full payment on $26.0 million of Core notes receivable plus accrued interest of $0.2 million;
| • | funded an additional $2.8 million to its existing $15.0 million Core note receivable and entered into an agreement to extend the maturity to April 1, 2020;
| • | advanced an additional $0.2 million on a Fund III note receivable; and
| • | increased the balance of a Fund II note receivable by the interest accrued of $0.8 million.
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 seniority of the Company’s loan in relation to other debt secured by the collateral and the prospects of the borrower. Earnings from these notes and mortgages receivable are reported within the Company’s Structured Financing segment (Note 12).

X
- References No definition available. + Details
Name: | us-gaap_AccountsAndNotesReceivableNetAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=84173941&loc=d3e5074-111524 Reference 2: 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(4)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(5)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=84173941&loc=d3e5162-111524 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=84173941&loc=d3e5066-111524 Reference 6: 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)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(7)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(6)) -URI http://asc.fasb.org/extlink&oid=6488278&loc=d3e603758-122996 + Details
Name: | us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration