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Commercial Mortgage Loans (Tables) (Commercial mortgage loans [Member]) | 3 Months Ended
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Mar. 31, 2014
Commercial mortgage loans [Member] |
Mortgage Loans on Real Estate [Line Items] |
Schedule of Mortgage Loans on Real Estate | The Company’s commercial mortgage loan portfolio was comprised of the following at December 31, 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 |  |  | $ | 31,317 |  |  | $ | 31,317 |  |  | Fixed |  |  | 151 rooms
Office Condo (Headquarters) - NY, NY | Feb-10 |  | Feb-15 |  | 28,000 |  |  | 27,169 |  |  | 27,169 |  |  | Fixed |  |  | 73,419 sq. ft.
Hotel - Silver Spring, MD | Mar-10 |  | Apr-15 |  | 26,000 |  |  | 24,947 |  |  | 24,785 |  |  | Fixed |  |  | 263 rooms
Condo Conversion – NY, NY (1) | Dec-12 |  | Jan-15 |  | 45,000 |  |  | 45,000 |  |  | 44,867 |  |  | Floating |  |  | 119,000 sq. ft.
Condo Conversion – NY, NY (2) | Aug-13 |  | Sept-15 |  | 33,000 |  |  | 33,167 |  |  | 32,961 |  |  | Floating |  |  | 40,000 sq. ft.
Total/Weighted Average |  |  |  |  | $ | 164,000 |  |  | $ | 161,600 |  |  | $ | 161,099 |  |  | 8.82 | % |  |
(1) | This loan includes two one-year extension options subject to certain conditions and the payment of a fee for each extension.
(2) | This loan includes a one-year extension option subject to certain conditions and the payment of a fee.
The Company’s commercial mortgage loan portfolio was comprised of the following at March 31, 2014:
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 |  |  | $ | 31,242 |  |  | $ | 31,242 |  |  | Fixed |  |  | 151 rooms
Office Condo (Headquarters) - NY, NY | Feb-10 |  | Feb-15 |  | 28,000 |  |  | 27,095 |  |  | 27,095 |  |  | Fixed |  |  | 73,419 sq. ft.
Hotel - Silver Spring, MD | Mar-10 |  | Apr-15 |  | 26,000 |  |  | 24,853 |  |  | 24,722 |  |  | Fixed |  |  | 263 rooms
Condo Conversion – NY, NY (1) | Dec-12 |  | Jan-15 |  | 45,000 |  |  | 45,000 |  |  | 45,002 |  |  | Floating |  |  | 119,000 sq. ft.
Condo Conversion – NY, NY (2) | Aug-13 |  | Sept-15 |  | 33,000 |  |  | 33,333 |  |  | 33,220 |  |  | Floating |  |  | 40,000 sq. ft.
Condo Construction - Potomac, MD (3) | Feb-14 |  | Sept-16 |  | 25,000 |  |  | 25,000 |  |  | 24,235 |  |  | Floating |  |  | 50 units
Total/Weighted Average |  |  |  |  | $ | 189,000 |  |  | $ | 186,523 |  |  | $ | 185,516 |  |  | 8.83 | % |  |
(1) | This loan includes two one-year extension options subject to certain conditions and the payment of a fee for each extension.
(2) | This loan includes a one-year extension option subject to certain conditions and the payment of a fee.
(3) | This loan includes a six month extension option subject to certain conditions and the payment of a fee.

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