Notes Receivable

12 Months Ended

Dec. 31, 2015

Accounts and Notes Receivable, Net [Abstract]

On May 21, 2014, we received $58.5 million for the prepayment of the senior mortgage loan secured by the 443-room Allerton Hotel in Chicago, Illinois (the "Allerton Loan"). As a result of the prepayment, we recorded a gain of $13.6 million. The Allerton Loan had an original principal balance of $66.0 million, which had a four-year term (plus a one-year extension option) and a fixed interest rate of 5.5%. Principal payments were based on a 30-year amortization schedule, but were only due to the extent there was available cash flow from operations.

We recorded the following amounts of interest income on the Allerton Loan (in thousands):



	Year Ended December 31, 2014		Year Ended December 31, 2013
Contractual interest income	$	1,317	$	3,456
Amortization of discount	1,075		2,602
Total interest income	$	2,392	$	6,058

In connection with the sale of the Oak Brook Hills Resort in 2014, we provided a $4.0 million loan to the buyer of the hotel. During 2015, we recorded a $3.9 million gain on repayment of the loan. Additional information on the loan is found in Note 10 to our consolidated financial statements.