XML 19 R46.htm IDEA: XBRL DOCUMENT v3.2.0.727
Real Estate Owned and Held-For-Sale (Details)
3 Months Ended 6 Months Ended
Jun. 30, 2015
USD ($)
item
Mar. 31, 2015
USD ($)
Jun. 30, 2014
USD ($)
Jun. 30, 2015
USD ($)
item
Jun. 30, 2014
USD ($)
item
Dec. 31, 2014
USD ($)
item
Real Estate owned            
Real estate owned, net $ 71,888,049     $ 71,888,049   $ 84,925,641
First lien mortgage - real estate owned 27,155,000     27,155,000   21,865,136
Restricted cash due to escrow requirement 76,252,399     76,252,399   218,100,529
Provision for Loan and Lease Losses Gross 1,110,629   $ 3,950,000 2,110,629 $ 4,950,000  
Real Estate Held-For-Sale            
Property classified from real estate owned to real estate held-for-sale       11,241,531    
Gain on sale of real estate held-for-sale       3,984,364    
Real Estate owned            
Real Estate owned            
Less: accumulated depreciation and amortization (19,662,186)     (19,662,186)   (20,075,614)
Real estate owned, net 71,888,049     71,888,049   84,925,641
Restricted cash due to escrow requirement 1,100,000     1,100,000   1,700,000
Real Estate owned | Multifamily            
Real Estate owned            
Less: accumulated depreciation and amortization (8,420,932)     (8,420,932)   (7,414,267)
Real estate owned, net $ 29,040,886     $ 29,040,886   $ 29,374,446
Number of properties | item 3     3   4
First lien mortgage - real estate owned $ 27,200,000     $ 27,200,000   $ 31,000,000
Weighted average occupancy rate of properties (as a percent) 91.00%     91.00%   90.00%
Real Estate owned | Hotel            
Real Estate owned            
Less: accumulated depreciation and amortization $ (11,241,254)     $ (11,241,254)   $ (12,661,347)
Real estate owned, net $ 42,847,163     $ 42,847,163   $ 55,551,195
Number of properties | item 4     4   5
Weighted average occupancy rate of properties (as a percent) 55.00%   58.00% 55.00% 58.00%  
Amount of weighted average daily rate of properties       $ 96 $ 91  
Amount of weighted average daily revenue of properties       53 $ 53  
Real Estate owned | Land            
Real Estate owned            
Real estate owned, gross $ 12,632,495     12,632,495   $ 14,932,495
Real Estate owned | Land | Multifamily            
Real Estate owned            
Real estate owned, gross 5,538,844     5,538,844   5,538,844
Real Estate owned | Land | Hotel            
Real Estate owned            
Real estate owned, gross 7,093,651     7,093,651   9,393,651
Real Estate owned | Building and intangible assets            
Real Estate owned            
Real estate owned, gross 78,917,740     78,917,740   90,068,760
Real Estate owned | Building and intangible assets | Multifamily            
Real Estate owned            
Real estate owned, gross 31,922,974     31,922,974   31,249,869
Real Estate owned | Building and intangible assets | Hotel            
Real Estate owned            
Real estate owned, gross 46,994,766     $ 46,994,766   $ 58,818,891
Real Estate held for sale            
Real Estate Held-For-Sale            
Number of properties sold | item         0  
Real Estate held for sale | Multifamily and Hotel            
Real Estate Held-For-Sale            
Proceeds from sale of properties   $ 18,800,000        
Gain on sale of property   $ 4,000,000        
Real Estate held for sale | Hotel            
Real Estate Held-For-Sale            
Property classified from real estate owned to real estate held-for-sale $ 11,200,000