Commercial Mortgage Loans (Tables)

6 Months Ended

Jun. 30, 2016

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 June 30, 2016:

Description

Maturity

Date

Current Principal Balance

Carrying

Value

Fixed/Floating

Property Size

Condominium – New York, NY (1)

Sept-16

13,789

13,874

Floating

40,000 sq. ft.

Condominium - Bethesda, MD (1)(2)

Sept-16

49,893

50,204

Floating

50 units

Vacation Home Portfolio - Various (1)

Apr-19

91,553

90,743

Fixed

229 properties

Hotel - Philadelphia, PA (1)(3)

May-17

34,000

33,972

Floating

301 keys

Condo Construction - Bethesda, MD (4)

Dec-16

49,162

49,374

Floating

40 units

Multifamily - Brooklyn, NY (1)(5)

Aug-16

34,500

34,940

Floating

63 units

Mixed Use - Cincinnati, OH (1)(3)

May-18

165,000

163,047

Floating

65 acres

Condo Conversion - New York, NY (1)

Sept-16

67,300

67,023

Floating

86,000 sq. ft.

Multifamily - Williston, ND (1)(3)

Nov-17

49,706

39,717

Floating

366 units/homes

Vacation Home Portfolio - Various U.S. (1)(3)

Nov-19

50,000

49,641

Fixed

24 properties

Mixed Use - Brooklyn, NY (1)(8)

Mar-17

85,770

85,959

Floating

330,000 sq. ft.

Retail redevelopment - Miami, FL (1)(7)

Jan-17

45,000

45,202

Floating

63,300 sq. ft.

Retail - Brooklyn, NY (1)

Mar-17

23,000

22,951

Floating

10,500 sq. ft.

Hotel - New York, NY (1)(9)

Sept-18

100,063

99,552

Floating

317 keys

Retail - Brooklyn, NY

Mar-17

5,910

5,885

Floating

5,500 sq. ft.

Hotel - U.S. Virgin Islands (1)(10)

Jan-18

42,000

41,700

Floating

180 keys

Office - Richmond, VA (1)(11)

Jan-18

54,000

53,652

Floating

262,000 sq. ft.

Retail redevelopment - Miami, FL (1)(12)

Jan-18

220,000

217,851

Floating

113,000 sq. ft.

Office - Boston, MA (6)(1)

Mar-18

28,512

28,272

Floating

114,000 sq. ft.

Mixed Use - New York, NY (13)(1)

Jun-18

44,750

44,294

Floating

91,584 sq. ft.

Condo Conversion - Brooklyn, NY (14)(1)

Jun-18

40,600

40,181

Floating

133,550 sq. ft.

Total/Weighted Average

1,294,508

1,278,034


(1)	At June 30, 2016, this loan was pledged to secure borrowings under the Company’s master repurchase facilities entered into with JPMorgan Chase Bank, N.A. (the “JPMorgan Facility”) or Goldman Sachs Bank USA (the “Goldman Loan”). See "Note 8 – Borrowings Under Repurchase Agreements" for a description of these facilities.


(2)	This loan includes a six-month extension option subject to certain conditions and the payment of a fee.


(3)	This loan includes two one-year extension options subject to certain conditions and the payment of a fee.


(4)	This loan includes a six-month extension option subject to certain conditions and the payment of a fee. At June 30, 2016, the Company had $9,100 of unfunded loan commitments related to this loan.


(5)	This loan includes three one-year extension options subject to certain conditions and the payment of a fee.


(6)	This loan includes one six-month extension option subject to certain conditions and the payment of a fee. At June 30, 2016, the Company had $2,488 of unfunded loan commitments related to this loan.


(7)	This loan includes two six- month extension options subject to certain conditions and the payment of a fee for each extension.


(8)	At June 30, 2016, the Company had $6,730 of unfunded loan commitments related to this loan.


(9)	This loan includes two one-year extension options subject to certain conditions and the payment of a fee. At June 30, 2016, the Company had $38,343 of unfunded loan commitments related to this loan.


(10)	This loan includes three one-year extension options subject to certain conditions and the payment of a fee for such extension. At June 30, 2016, the Company had $1,500 of unfunded loan commitments related to this loan.


(11)	This loan includes two one-year extension options subject to certain conditions and the payment of a fee. At June 30, 2016, the Company had $1,000 of unfunded loan commitments related to this loan.


(12)	This loan includes a one-year extension option subject to certain conditions and the payment of a fee.


(13)	This loan includes a six-month extension option subject to certain conditions and the payment of a fee. At June 30, 2016, the Company had $5,250 of unfunded loan commitments related to this loan.


(14)	At June 30, 2016, the Company had $4,900 of unfunded loan commitments related to this loan.

The Company’s commercial mortgage loan portfolio was comprised of the following at December 31, 2015:

Description

Maturity

Date

Current Principal Balance

Carrying

Value

Fixed/Floating

Property Size

Condominium – New York, NY (1)

Sept-16

24,114

24,289

Floating

40,000 sq. ft.

Condominium- Bethesda, MD (2)

Sept-16

65,125

65,087

Floating

50 units

Vacation Home Portfolio - Various (1)

Apr-19

94,147

93,277

Fixed

229 properties

Hotel - Philadelphia, PA (1)(3)

May-17

34,000

33,994

Floating

301 keys

Condo Construction - Bethesda, MD (4)

Dec-16

50,000

49,960

Floating

40 units

Multifamily - Brooklyn, NY (1)(5)

Aug-16

34,500

34,886

Floating

63 units

Mixed Use - Cincinnati, OH (1)(3)

May-18

165,000

163,173

Floating

65 acres

Condo Conversion - New York, NY (1)

Jun-16

67,300

67,038

Floating

86,000 sq. ft.

Multifamily - Williston, ND (1)(3)

Nov-17

49,691

49,665

Floating

366 units/homes

Vacation Home Portfolio - Various U.S. (1)(3)

Nov-19

50,000

49,595

Fixed

24 properties

Mixed Use - Brooklyn, NY (1)(6)

Mar-17

85,770

85,658

Floating

330,000 sq. ft.

Retail redevelopment - Miami, FL (1)(7)

Jan-17

45,000

44,925

Floating

63,300 sq. ft.

Retail redevelopment - Miami, FL (1)

Jul-17

33,000

32,804

Floating

16,600 sq. ft.

Retail - Brooklyn, NY (1)(8)

Mar-17

1,653

1,636

Floating

10,500 sq. ft.

Hotel - New York, NY (1)(9)

Sept-18

98,373

97,381

Floating

317 keys

Retail - Brooklyn, NY (1)

Mar-17

5,910

5,858

Floating

5,500 sq. ft.

Hotel - U.S. Virgin Islands (10)

Jan-18

42,000

41,600

Floating

180 keys

Office - Richmond, VA (11)

Jan-18

54,000

53,475

Floating

262,000 sq. ft.

Total/Weighted Average

999,583

994,301


(1)	At December 31, 2015, this loan was pledged to secure borrowings under the JPMorgan Facility or the Goldman Loan. See "Note 8 – Borrowings Under Repurchase Agreements" for a description of these facilities.


(2)	This loan includes a six-month extension option subject to certain conditions and the payment of a fee.


(3)	This loan includes two one-year extension options subject to certain conditions and the payment of a fee.


(4)	This loan includes a six-month extension option subject to certain conditions and the payment of a fee. At December 31, 2015 , the Company had $15,100 of unfunded loan commitments related to this loan.


(5)	This loan includes three one-year extension options subject to certain conditions and the payment of a fee for each extension.


(6)	At December 31, 2015, the Company had $6,730 of unfunded loan commitments related to this loan.


(7)	This loan includes two six-month extension options subject to certain conditions and the payment of a fee.


(8)	At December 31, 2015, the Company had $9,000 of unfunded loan commitments related to this loan.


(9)	This loan includes two one-year extension options subject to certain conditions and the payment of a fee for each extension. At December 31, 2015, the Company had $40,034 of unfunded loan commitments related to this loan.


(10)	This loan includes three one-year extension options subject to certain conditions and the payment of a fee. At December 31, 2015, the Company had $1,500 of unfunded loan commitments related to this loan.


(11)	This loan includes a two one-year extension options subject to certain conditions and the payment of a fee. At December 31, 2015, the Company had $1,000 of unfunded loan commitments related to this loan.