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Commercial Mortgage Loans (Tables) (Commercial mortgage loans [Member]) | 12 Months Ended
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Dec. 31, 2014
Commercial mortgage loans [Member] |
Mortgage Loans on Real Estate [Line Items] |
Schedule of Mortgage Loans on Real Estate | Company’s commercial mortgage loan portfolio was comprised of the following as of December 31, 2013:
Description | Date of Investment |  | Maturity Date |  | Original Face Amount |  | Current Face Amount |  | Carrying Value |  | Coupon |  | Property Size
Hotel - NY, NY (1) | Jan-10 |  | Feb-15 |  | $ | 32,000 |  |  | $ | 31,317 |  |  | $ | 31,317 |  |  | Fixed |  | 151 rooms
Office Condo (Headquarters) - NY, NY (1) | Feb-10 |  | Feb-15 |  | 28,000 |  |  | 27,169 |  |  | 27,169 |  |  | Fixed |  | 73,419 sq. ft.
Hotel - Silver Spring, MD (1) | Mar-10 |  | Apr-15 |  | 26,000 |  |  | 24,947 |  |  | 24,785 |  |  | Fixed |  | 263 rooms
Condo Conversion – NY, NY (2) | Dec-12 |  | Jan-15 |  | 45,000 |  |  | 45,000 |  |  | 44,867 |  |  | Floating |  | 119,000 sq. ft.
Condo Conversion – NY, NY (3) | 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) | At December 31, 2013, this loan was pledged to secure borrowings under the JPMorgan Facility. See Note 9 – Borrowings for a description of this facility.
(2) | This loan includes two one-year extension options subject to certain conditions and the payment of a fee for each extension.
(3) | 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 December 31, 2014:
Description | Date of Investment |  | Maturity Date |  | Original Face Amount |  | Current Face Amount |  | Carrying Value |  | Coupon |  | Property Size
Hotel - Silver Spring, MD (1) | Mar-10 |  | Apr-15 |  | $ | 26,000 |  |  | $ | 24,590 |  |  | $ | 24,557 |  |  | Fixed |  |  | 263 rooms
Condo Conversion – NY, NY (1)(2) | Aug-13 |  | Sept-15 |  | 33,000 |  |  | 33,846 |  |  | 33,961 |  |  | Floating |  |  | 40,000 sq. ft.
Condo Construction - Potomac, MD (3) | Feb-14 |  | Sept-16 |  | 28,000 |  |  | 28,000 |  |  | 27,520 |  |  | Floating |  |  | 50 units
Vacation Home Portfolio - Various | Apr-14 |  | Apr-19 |  | 101,000 |  |  | 100,046 |  |  | 99,086 |  |  | Fixed |  |  | 229 properties
Hotel - Philadelphia, PA (1)(4) | May-14 |  | May-17 |  | 34,000 |  |  | 34,000 |  |  | 33,842 |  |  | Floating |  |  | 301 rooms
Condo Construction - Bethesda, MD (5) | Jun-14 |  | Dec-16 |  | 20,000 |  |  | 20,000 |  |  | 19,616 |  |  | Floating |  |  | 40 units
Multifamily - Brooklyn, NY (1)(6) | Jul-14 |  | Aug-16 |  | 30,000 |  |  | 30,000 |  |  | 30,110 |  |  | Floating |  |  | 63 units
Mixed Use - Cincinnati, Ohio (7) | Nov-14 |  | May-18 |  | 20,000 |  |  | 20,000 |  |  | 18,309 |  |  | Floating |  |  | 65 acres
Condo Conversion - NY, NY (1)(8) | Nov-14 |  | Dec-15 |  | 67,300 |  |  | 67,300 |  |  | 64,714 |  |  | Floating |  |  | 86,000 sq. ft.
Multifamily - Williston, North Dakota (1)(4) | Nov-14 |  | Nov-17 |  | 58,000 |  |  | 57,792 |  |  | 57,297 |  |  | Floating |  |  | 366 units/homes
Vacation Home Portfolio - Various U.S. (4) | Nov-14 |  | Nov-19 |  | 50,000 |  |  | 50,000 |  |  | 49,508 |  |  | Fixed |  |  | 24 properties
Total/Weighted Average |  |  |  |  | $ | 467,300 |  |  | $ | 465,574 |  |  | $ | 458,520 |  |  | 6.84 | % |  |
(1) | At December 31, 2014, this loan was pledged to secure borrowings under the Company’s master repurchase facility entered into with JPMorgan Chase Bank, N.A. (the “JPMorgan Facility”). See Note 9 – Borrowings for a description of this facility.
(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. As of December 31, 2014, the Company had $52,000 of unfunded loan commitments related to this loan.
(4) | This loan includes two one-year extension options subject to certain conditions and the payment of a fee.
(5) | This loan includes a six-month extension option subject to certain conditions and the payment of a fee. As of December 31, 2014, the Company had $45,100 of unfunded loan commitments related to this loan.
(6) | This loan includes three one-year extension options subject to certain conditions and the payment of a fee for each extension. As of December 31, 2014, the Company had $4,500 of unfunded loan commitments related to this loan.
(7) | This loan includes two one-year extension options subject to certain conditions and the payment of a fee. As of December 31, 2014, the Company had $145,000 of unfunded loan commitments related to this loan.
(8) | This loan includes a six-month extension option subject to certain conditions and the payment of a fee.

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