Schedule IV - Mortgage Loans on Real Estate

12 Months Ended

Dec. 31, 2012

Schedule IV — Mortgage Loans on Real Estate

December 31, 2012


Property Type	Location	Interest Rate			Final Maturity Date		Periodic Payment Terms	Face amount of loans		Carrying amount of loans
Commercial mortgage loans
Hotel	New York		8.25	%		Feb - 15	30 year	$	31,571	$	31,571
Office Condo (Headquarters)	New York		8.00	%		Feb - 15	30 year		27,419		27,419
Hotel	Maryland		9.00	%		Apr -15	25 year		25,273		25,273
Mixed Use	Massachusetts		1.98	%		Dec -13	Interest only		17,287		14,105
Condo Conversion	New York		9.00	%		Jan - 15	Interest only		45,000		44,553

Total commercial mortgage loans									146,550		142,921


Subordinate loans (1)
Retail	Various US cities		12.24	%		Dec - 19	Interest only		30,000		30,000
Retail	Various US cities		14.00	%		Dec - 19	Interest only		20,000		20,000
Office	Michigan		13.00	%		Jun - 20	25 year		8,912		8,912
Ski Resort	California		13.25	%		May - 17	Interest only		40,000		39,831
Hotel Portfolio	New York		11.49	%		July - 13	Interest only		25,000		25,000
Retail Center	Virginia		14.00	%		Oct - 14	Interest only		26,243		26,243
Hotel	New York		12.00	%		Feb - 14	Interest only		15,000		15,013
Hotel	New York		11.50	%		Mar - 14	Interest only		15,000		15,000
Mixed Use	North Carolina		11.10	%		Jul - 22	Interest only		6,525		6,525
Office Complex	Missouri		11.75	%		Oct - 22	30 year		9,979		9,979
Hotel Portfolio	Various US cities		11.11	%		Nov - 15	30 year		49,950		49,743
Condo Conversion	New York		9.00	%		Jan - 15	Interest only		350		—

Total subordinate loans									246,959		246,246

Total								$	393,509	$	389,167	(2)

(1)	Subject to prior liens.

(2)	The aggregate cost for federal income tax purposes is $389,167.

The following table summarizes the changes in the carrying amounts of mortgage loans during the 2012 and 2011.

Reconciliation of Carrying Amount of Loans