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Subordinate Loans (Tables) (Subordinate loans [Member]) | 9 Months Ended
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Sep. 30, 2014
Subordinate loans [Member] |
Mortgage Loans on Real Estate [Line Items] |
Schedule of Mortgage Loans on Real Estate | The Company’s subordinate loan portfolio was comprised of the following at September 30, 2014:
Description | Date of Investment |  | Maturity Date |  | Original Face Amount |  | Current Face Amount |  | Carrying Value |  | Coupon
Office - Michigan | May-10 |  | Jun-20 |  | $ | 9,000 |  |  | $ | 8,828 |  |  | $ | 8,828 |  |  | Fixed |
Ski Resort - California | Apr-11 |  | May-17 |  | 40,000 |  |  | 40,000 |  |  | 39,714 |  |  | Fixed |
Mixed Use – North Carolina | Jul-12 |  | Jul-22 |  | 6,525 |  |  | 6,525 |  |  | 6,525 |  |  | Fixed |
Office Complex - Missouri | Sept-12 |  | Oct-22 |  | 10,000 |  |  | 9,747 |  |  | 9,747 |  |  | Fixed |
Hotel Portfolio – Various (1) | Nov-12 |  | Nov-15 |  | 50,000 |  |  | 47,172 |  |  | 47,260 |  |  | Floating |
Condo Conversion – NY, NY (2) | Dec-12 |  | Jan-15 |  | 35,000 |  |  | 35,545 |  |  | 35,722 |  |  | Floating |
Condo Construction – NY, NY (1) | Jan-13 |  | Jul-17 |  | 60,000 |  |  | 73,844 |  |  | 73,457 |  |  | Fixed |
Multifamily Conversion – NY, NY (1) | Jan-13 |  | Dec-14 |  | 18,000 |  |  | 14,608 |  |  | 14,683 |  |  | Floating |
Hotel Portfolio – Rochester, MN | Jan-13 |  | Feb-18 |  | 25,000 |  |  | 24,560 |  |  | 24,560 |  |  | Fixed |
Warehouse Portfolio - Various | May-13 |  | May-23 |  | 32,000 |  |  | 32,000 |  |  | 32,000 |  |  | Fixed |
Multifamily Conversion – NY, NY (3) | May-13 |  | Dec-14 |  | 44,000 |  |  | 44,000 |  |  | 43,907 |  |  | Floating |
Office Condo - NY, NY | Jul-13 |  | Jul-22 |  | 14,000 |  |  | 14,000 |  |  | 13,588 |  |  | Fixed |
Condo Conversion – NY, NY (4) | Aug-13 |  | Sept-15 |  | 29,400 |  |  | 29,601 |  |  | 29,491 |  |  | Floating |
Mixed Use - Pittsburgh, PA (1) | Aug-13 |  | Aug-16 |  | 22,500 |  |  | 22,500 |  |  | 22,445 |  |  | Floating |
Mixed Use - Various (2) | Dec-13 |  | Dec-18 |  | 17,000 |  |  | 18,791 |  |  | 18,608 |  |  | Fixed |
Mixed Use - London, England | Apr-14 |  | Jan-15 |  | 54,926 |  |  | 52,034 |  |  | 52,034 |  |  | Fixed |
Hotel - NY, NY | Jun-14 |  | Dec-14 |  | 28,250 |  |  | 28,250 |  |  | 28,250 |  |  | Fixed |
Healthcare Portfolio - Various (5) | Jun-14 |  | Jun-16 |  | 50,000 |  |  | 50,000 |  |  | 50,000 |  |  | Floating |
Hotel - NY, NY (5) | Jul-14 |  | Jul-16 |  | 20,000 |  |  | 20,000 |  |  | 19,834 |  |  | Floating |
Ski Resort - Big Sky, Montana | Aug-14 |  | Sept-20 |  | 15,000 |  |  | 15,000 |  |  | 14,851 |  |  | Fixed |
Total/Weighted Average |  |  |  |  | $ | 580,601 |  |  | $ | 587,005 |  |  | $ | 585,504 |  |  | 11.20 | %
(1) | Includes a one-year extension option subject to certain conditions and the payment of an extension fee.
(2) | Includes two one-year extension options subject to certain conditions and the payment of a fee for each extension.
(3) | Includes a three-month extension option subject to certain conditions and the payment of an extension fee.
(4) | Includes a one-year extension option subject to certain conditions and the payment of an extension fee.
(5) | Includes three one-year extensions options subject to certain conditions and the payment of a fee for each extension.
The Company’s subordinate 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
Office - Michigan | May-10 |  | Jun-20 |  | $ | 9,000 |  |  | $ | 8,866 |  |  | $ | 8,866 |  |  | Fixed |
Ski Resort - California | Apr-11 |  | May-17 |  | 40,000 |  |  | 40,000 |  |  | 39,781 |  |  | Fixed |
Hotel– New York (1) | Jan-12 |  | Feb-14 |  | 15,000 |  |  | 15,000 |  |  | 15,207 |  |  | Fixed |
Mixed Use – North Carolina | Jul-12 |  | Jul-22 |  | 6,525 |  |  | 6,525 |  |  | 6,525 |  |  | Fixed |
Office Complex - Missouri | Sept-12 |  | Oct-22 |  | 10,000 |  |  | 9,849 |  |  | 9,849 |  |  | Fixed |
Hotel Portfolio – Various (1) | Nov-12 |  | Nov-15 |  | 50,000 |  |  | 48,431 |  |  | 48,397 |  |  | Floating |
Condo Conversion – NY, NY (2) | Dec-12 |  | Jan-15 |  | 35,000 |  |  | 35,000 |  |  | 34,734 |  |  | Floating |
Condo Construction – NY, NY (1) | Jan-13 |  | Jul-17 |  | 60,000 |  |  | 66,800 |  |  | 66,340 |  |  | Fixed |
Multifamily Conversion – NY, NY (1) | Jan-13 |  | Dec-14 |  | 18,000 |  |  | 18,000 |  |  | 17,906 |  |  | Floating |
Hotel Portfolio – Rochester, MN | Jan-13 |  | Feb-18 |  | 25,000 |  |  | 24,771 |  |  | 24,771 |  |  | Fixed |
Warehouse Portfolio - Various | May-13 |  | May-23 |  | 32,000 |  |  | 32,000 |  |  | 32,000 |  |  | Fixed |
Multifamily Conversion – NY, NY (3) | May-13 |  | Jun-14 |  | 44,000 |  |  | 44,000 |  |  | 43,859 |  |  | Floating |
Office Condo - NY, NY | Jul-13 |  | Jul-22 |  | 14,000 |  |  | 14,000 |  |  | 13,565 |  |  | Fixed |
Condo Conversion – NY, NY (4) | Aug-13 |  | Sept-15 |  | 294 |  |  | 295 |  |  | 2 |  |  | Floating |
Mixed Use - Pittsburgh, PA (1) | Aug-13 |  | Aug-16 |  | 22,500 |  |  | 22,500 |  |  | 22,342 |  |  | Floating |
Healthcare Portfolio - Various | Oct-13 |  | Jun-14 |  | 47,000 |  |  | 47,000 |  |  | 47,000 |  |  | Floating |
Mixed Use - Florida (2) | Nov-13 |  | Oct-18 |  | 50,000 |  |  | 50,000 |  |  | 49,535 |  |  | Floating |
Mixed Use - Various (2) | Dec-13 |  | Dec-18 |  | 17,000 |  |  | 17,000 |  |  | 16,805 |  |  | Fixed |
Total/Weighted Average |  |  |  |  | $ | 495,319 |  |  | $ | 500,037 |  |  | $ | 497,484 |  |  | 11.60 | %
(1) | Includes a one-year extension option subject to certain conditions and the payment of an extension fee.
(2) | Includes two one-year extension options subject to certain conditions and the payment of a fee for each extension.
(3) | Includes a three-month extension option subject to certain conditions and the payment of an extension fee.
(4) | Includes a one-year extension option subject to certain conditions and the payment of an extension fee. As of December 31, 2013, the Company had $29,106 of unfunded loan commitments related to this loan.

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- Definition Schedule of Mortgage Loans on Real Estate [Table Text Block] + References No definition available. + Details
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- Details
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