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Commercial Mortgage Loans (Tables) | 12 Months Ended
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Dec. 31, 2012
Commercial Mortgage Loan Portfolio | The Company’s commercial mortgage loan portfolio was comprised of the following at December 31, 2012:
Description |  | Date of Investment |  |  | Maturity Date |  |  | Original Face Amount |  |  | Current Face Amount |  |  | Carrying Value |  |  | Coupon |  |  | Amortization Schedule |  | Property Size
Hotel - NY, NY |  |  | Jan-10 |  |  |  | Feb-15 |  |  | $ | 32,000 |  |  | $ | 31,571 |  |  | $ | 31,571 |  |  |  | 8.25 | % |  | 30 year |  | 151 rooms
Office Condo (Headquarters) - NY, NY |  |  | Feb-10 |  |  |  | Feb-15 |  |  |  | 28,000 |  |  |  | 27,419 |  |  |  | 27,419 |  |  |  | 8.00 |  |  | 30 year |  | 73,419 sq. ft.
Hotel - Silver Spring, MD |  |  | Mar-10 |  |  |  | Apr-15 |  |  |  | 26,000 |  |  |  | 25,273 |  |  |  | 25,273 |  |  |  | 9.00 |  |  | 25 year |  | 263 rooms
Mixed Use - South Boston, MA (1) |  |  | Apr-12 |  |  |  | Dec-13 |  |  |  | 23,844 |  |  |  | 17,287 |  |  |  | 14,105 |  |  |  | 1.98 |  |  | Interest only |  | 20 acres
Condo Conversion - NY, NY (2) |  |  | Dec-12 |  |  |  | Jan-15 |  |  |  | 45,000 |  |  |  | 45,000 |  |  |  | 44,553 |  |  |  | 9.00 |  |  | Interest only |  | 119,000 sq. ft.
Total/Weighted Average |  |  |  |  |  |  |  |  |  | $ | 154,844 |  |  | $ | 146,550 |  |  | $ | 142,921 |  |  |  | 7.82 | % |  |  |  |
(1) | This loan is a senior sub-participation interest in a $120,000 first mortgage that bears interest at a rate of LIBOR plus 172 basis points and includes a one-year extension option subject to repayment of $33,000 of the entire first mortgage (of which the Company will receive its pro rata portion) and the payment of a 0.50% fee of the outstanding balance of the entire first mortgage.
(2) | Includes a 1.00% origination fee, a LIBOR floor of 0.50%, two one-year extension options subject to certain conditions and the payment of a 0.50% fee for each extension.
Description |  | Date of Investment |  |  | Maturity Date |  |  | Original Face Amount |  |  | Current Face Amount |  |  | Coupon |  |  | Amortization Schedule |  | Property Size
Hotel – NY, NY |  |  | Jan-10 |  |  |  | Feb-15 |  |  | $ | 32,000 |  |  | $ | 31,798 |  |  |  | 8.25 | % |  | 30 year |  | 151 rooms
Office Condo (Headquarters) – NY, NY |  |  | Feb-10 |  |  |  | Feb-15 |  |  |  | 28,000 |  |  |  | 27,644 |  |  |  | 8.00 |  |  | 30 year |  | 73,419 sq. ft.
Hotel – Silver Spring, MD |  |  | Mar-10 |  |  |  | Apr-15 |  |  |  | 26,000 |  |  |  | 25,564 |  |  |  | 9.00 |  |  | 25 year |  | 263 rooms
Hotel – NY, NY |  |  | Aug-10 |  |  |  | Aug-12 |  |  |  | 24,000 |  |  |  | 24,000 |  |  |  | 8.00 |  |  | Interest only |  | 155 rooms
Total |  |  |  |  |  |  |  |  |  | $ | 110,000 |  |  | $ | 109,006 |  |  |  | 8.31 | % |

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- Definition Commercial mortgage loan held for investment. + References No definition available. + Details
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