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Commercial Mortgage Loans (Tables) | 6 Months Ended
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Jun. 30, 2013
Text Block [Abstract] |
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 |  | Property Size
Hotel - NY, NY | Jan-10 |  | Feb-15 |  | $ | 32,000 |  |  | $ | 31,571 |  |  | $ | 31,571 |  |  | Fixed |  |  | 151 rooms
Office Condo (Headquarters) - NY, NY | Feb-10 |  | Feb-15 |  | 28,000 |  |  | 27,419 |  |  | 27,419 |  |  | Fixed |  |  | 73,419 sq. ft.
Hotel - Silver Spring, MD | Mar-10 |  | Apr-15 |  | 26,000 |  |  | 25,273 |  |  | 25,273 |  |  | Fixed |  |  | 263 rooms
Mixed Use – South Boston, MA (1) | Apr-12 |  | Dec-13 |  | 23,844 |  |  | 17,287 |  |  | 14,105 |  |  | Floating |  |  | 20 acres
Condo Conversion – NY, NY (2) | Dec-12 |  | Jan-15 |  | 45,000 |  |  | 45,000 |  |  | 44,553 |  |  | Fixed |  |  | 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. In December 2012, the borrower exercised a one-year extension option subject upon repayment of $33,000 of the entire first mortgage (of which the Company received its pro rata portion) and the payment of a fee on the outstanding balance of the entire first mortgage
(2) | This loan includes two one-year extension options subject to certain conditions and the payment of a fee for each extension.
The Company’s commercial mortgage loan portfolio was comprised of the following at June 30, 2013:
Description | Date of Investment |  | Maturity Date |  | Original Face Amount |  | Current Face Amount |  | Carrying Value |  | Coupon |  | Property Size
Hotel - NY, NY | Jan-10 |  | Feb-15 |  | $ | 32,000 |  |  | $ | 31,443 |  |  | $ | 31,443 |  |  | Fixed |  |  | 151 rooms
Office Condo (Headquarters) - NY, NY | Feb-10 |  | Feb-15 |  | 28,000 |  |  | 27,293 |  |  | 27,293 |  |  | Fixed |  |  | 73,419 sq. ft.
Hotel - Silver Spring, MD | Mar-10 |  | Apr-15 |  | 26,000 |  |  | 25,111 |  |  | 24,888 |  |  | Fixed |  |  | 263 rooms
Mixed Use – South Boston, MA (1) | Apr-12 |  | Dec-13 |  | 23,844 |  |  | 16,890 |  |  | 15,215 |  |  | Floating |  |  | 20 acres
Condo Conversion – NY, NY (2) | Dec-12 |  | Jan-15 |  | 45,000 |  |  | 45,000 |  |  | 44,653 |  |  | Floating |  |  | 119,000 sq. ft.
Total/Weighted Average |  |  |  |  | $ | 154,844 |  |  | $ | 145,737 |  |  | $ | 143,492 |  |  | 7.84 | % |  |
(1) | This loan is a senior sub-participation interest in a $120,000 first mortgage. In December 2012, the borrower exercised a one-year extension option subject upon repayment of $33,000 of the entire first mortgage (of which the Company received its pro rata portion) and the payment of a fee on the outstanding balance of the entire first mortgage.
(2) | This loan includes two one-year extension options subject to certain conditions and the payment of a fee for each extension.

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