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Subordinate Loans (Tables) | 9 Months Ended
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Sep. 30, 2016
Subordinate Mortgage Portfolio Segment [Member] |
Mortgage Loans on Real Estate [Line Items] |
Schedule of Mortgage Loans on Real Estate | The Company’s subordinate commercial loan portfolio was comprised of the following at September 30, 2016:
Description |  | Maturity Date |  |  | Current Principal Balance |  | Carrying Value |  | Fixed/Floating |  | Property Size
Subordinate to the Company's commercial mortgage loans |  |  |  |  |  |  |  |  |
Hotel - New York, NY (1) |  | Sept-18 |  |  | $ | 6,374 |  |  | $ | 6,284 |  |  | Floating |  | 317 keys
Multifamily - Williston, ND (2) |  | Nov-17 |  |  | 5,000 |  |  | — |  |  | Floating |  | 366 units
Total - Subordinate to the Company's commercial mortgage loans |  |  | $ | 11,374 |  |  | $ | 6,284 |  |  |  |  |
Subordinate to third party commercial mortgage loans |  |  |  |  |  |  |  |  |
Mixed Use – North Carolina |  | Aug-22 |  |  | $ | 6,525 |  |  | $ | 6,525 |  |  | Fixed |  | 170,897 sq. ft.
Office Complex - Missouri |  | Oct-22 |  |  | 9,454 |  |  | 9,454 |  |  | Fixed |  | 845,241 sq. ft.
Hotel Portfolio – Rochester, MN |  | Feb-18 |  |  | 23,947 |  |  | 23,947 |  |  | Fixed |  | 1,222 keys
Warehouse Portfolio - Various |  | May-23 |  |  | 32,000 |  |  | 32,000 |  |  | Fixed |  | 2,767,047 sq. ft.
Office Condo - New York, NY |  | Jul-22 |  |  | 14,000 |  |  | 13,665 |  |  | Fixed |  | 436,598 sq. ft.
Healthcare Portfolio - Various (2) |  | Jun-17 |  |  | 38,858 |  |  | 38,858 |  |  | Floating |  | 18,403 beds
Ski Resort - Big Sky, MT |  | Sept-20 |  |  | 15,000 |  |  | 14,758 |  |  | Fixed |  | 632 keys
Mixed Use - New York, NY (2) |  | Dec-17 |  |  | 96,856 |  |  | 96,758 |  |  | Floating |  | 363 units
Senior Housing - United Kingdom (2) |  | Dec-17 |  |  | 69,400 |  |  | 69,400 |  |  | Floating |  | 2,128 beds
Hotel - Burbank, CA |  | Jan-20 |  |  | 20,000 |  |  | 20,000 |  |  | Fixed |  | 488 keys
Multifamily Portfolio - Florida (3) |  | May-17 |  |  | 22,000 |  |  | 21,947 |  |  | Floating |  | 621 units
Multifamily Portfolio - Florida (3) |  | May-17 |  |  | 15,500 |  |  | 15,462 |  |  | Floating |  | 621 units
Mixed Use - Various (3) |  | May-17 |  |  | 45,000 |  |  | 45,076 |  |  | Floating |  | 3,535,774 sq. ft.
Hotel - Phoenix, AZ |  | Jul-25 |  |  | 25,000 |  |  | 25,000 |  |  | Fixed |  | 744 keys
Hotel - Washington, DC (2) |  | Jul-17 |  |  | 20,000 |  |  | 19,968 |  |  | Floating |  | 581 keys
Condo Development - New York, NY (6) |  | Jul-19 |  |  | 50,616 |  |  | 50,266 |  |  | Floating |  | 60 units
Condo Conversion - New York, NY (2) |  | Aug-18 |  |  | 57,750 |  |  | 57,459 |  |  | Floating |  | 223 units
Mixed Use - New York, NY (7) |  | Oct-18 |  |  | 30,000 |  |  | 29,896 |  |  | Floating |  | 363 units
Destination Resort - Various (8) |  | May-18 |  |  | 75,000 |  |  | 72,502 |  |  | Floating |  | 5,243 keys
Multifamily - New York, NY (9)(10) |  | Nov-18 |  |  | 55,000 |  |  | 54,696 |  |  | Floating |  | 185,000 sq. ft.
Hotel - New York, NY (4)(10) |  | Mar-17 |  |  | 50,000 |  |  | 49,956 |  |  | Floating |  | 468 keys
Condo Pre-development - United Kingdom |  | Sep-17 |  |  | 71,346 |  |  | 71,346 |  |  | Floating |  | 41 units
Condo Conversion - New York, NY (5) |  | Jul-19 |  |  | 37,646 |  |  | 36,991 |  |  | Floating |  | 139 units
Total - Subordinate to third party commercial mortgage loans |  |  | $ | 880,898 |  |  | $ | 875,930 |  |  |  |  |
Total/Weighted Average |  |  |  |  | $ | 892,272 |  |  | $ | 882,214 |  |  |  |  |
(1) | Includes two one-year extension options subject to certain conditions and the payment of an extension fee. At September 30, 2016, the Company had $8,699 of unfunded loan commitments related to this loan.
(2) | Includes two one-year extension options subject to certain conditions and the payment of a fee for each extension.
(3) | Includes three one-year extension options subject to certain conditions and the payment of an extension fee.
(4) | Includes a three-month extension option subject to certain conditions and the payment of a fee.
(5) | Includes a one-year extension option subject to certain conditions and the payment of an extension fee. At September 30, 2016, the Company had $39,354 of unfunded loan commitments related to this loan.
(6) | Includes a one-year extension option subject to certain conditions and the payment of a fee for each extension. At September 30, 2016, the Company had $35,633 of unfunded loan commitments related to this loan.
(7) | Includes a one-year extension option subject to certain conditions and the payment of an extension fee.
(8) | Includes four one-year extension options subject to certain conditions and the payment of an extension fee.
(9) | Includes a six-month extension option subject to certain conditions and the payment of a fee.
(10) | At September 30, 2016, 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 agreements.
The Company’s subordinate commercial loan portfolio was comprised of the following at December 31, 2015:
Description |  | Maturity Date |  |  | Current Principal Balance |  | Carrying Value |  | Fixed/Floating |
Subordinate to the Company's commercial mortgage loans |  |  |  |  |  |  |  |
Condominium – New York, NY (1) |  | Sept-16 |  |  | $ | 6,386 |  |  | $ | 6,415 |  |  | Floating |
Mixed Use - Brooklyn, NY (1) |  | Mar-17 |  |  | 12,347 |  |  | 12,222 |  |  | Floating |
Hotel - New York, NY (1)(2) |  | Sept-18 |  |  | 2,595 |  |  | 2,458 |  |  | Floating |
Multifamily - Williston, ND (1)(3) |  | Nov-17 |  |  | 5,000 |  |  | 5,000 |  |  | Floating |
Total - Subordinate to the Company's commercial mortgage loans |  |  | $ | 26,328 |  |  | $ | 26,095 |  |  |  |
Subordinate to third party commercial mortgage loans |  |  |  |  |  |  |  |  |  |
Office - Michigan |  | Jun-20 |  |  | $ | 8,753 |  |  | $ | 8,753 |  |  | Fixed |
Mixed Use – North Carolina |  | Aug-22 |  |  | 6,525 |  |  | 6,525 |  |  | Fixed |
Office Complex - Missouri |  | Oct-22 |  |  | 9,566 |  |  | 9,566 |  |  | Fixed |
Hotel Portfolio – Rochester, MN |  | Feb-18 |  |  | 24,182 |  |  | 24,182 |  |  | Fixed |
Warehouse Portfolio - Various |  | May-23 |  |  | 32,000 |  |  | 32,000 |  |  | Fixed |
Office Condo - New York, NY |  | Jul-22 |  |  | 14,000 |  |  | 13,631 |  |  | Fixed |
Mixed Use - Various (3) |  | Dec-16 |  |  | 19,500 |  |  | 19,377 |  |  | Fixed |
Mixed Use - London, England |  | Jan-16 |  |  | 50,676 |  |  | 50,676 |  |  | Fixed |
Healthcare Portfolio - Various (4) |  | Jun-16 |  |  | 39,223 |  |  | 39,223 |  |  | Floating |
Ski Resort - Big Sky, MT |  | Sept-20 |  |  | 15,000 |  |  | 14,878 |  |  | Fixed |
Mixed Use - New York, NY (5) |  | Dec-17 |  |  | 88,368 |  |  | 87,818 |  |  | Floating |
Senior Housing - United Kingdom (3) |  | Dec-17 |  |  | 79,735 |  |  | 79,735 |  |  | Floating |
Hotel - Burbank, CA |  | Jan-20 |  |  | 20,000 |  |  | 20,000 |  |  | Fixed |
Multifamily Portfolio - Florida (4) |  | May-17 |  |  | 22,000 |  |  | 21,895 |  |  | Floating |
Multifamily Portfolio - Florida (4) |  | May-17 |  |  | 15,500 |  |  | 15,426 |  |  | Floating |
Mixed Use - Various (4) |  | May-17 |  |  | 45,000 |  |  | 44,854 |  |  | Floating |
Hotel - Phoenix, AZ |  | Jul-25 |  |  | 25,000 |  |  | 25,000 |  |  | Fixed |
Hotel - Washington, DC (3) |  | Jul-17 |  |  | 20,000 |  |  | 19,934 |  |  | Floating |
Condo Development - New York, NY (6) |  | Jul-19 |  |  | 34,184 |  |  | 33,567 |  |  | Floating |
Condo Conversion - New York, NY (3) |  | Aug-18 |  |  | 52,418 |  |  | 51,941 |  |  | Floating |
Mixed Use - New York, NY (7) |  | Oct-18 |  |  | 30,000 |  |  | 29,785 |  |  | Floating |
Destination Resort - Various (8) |  | May-18 |  |  | 75,000 |  |  | 71,362 |  |  | Floating |
Multifamily - New York, NY (9) |  | Nov-18 |  |  | 55,000 |  |  | 54,558 |  |  | Floating |
Hotel - New York, NY (10) |  | Mar-17 |  |  | 50,000 |  |  | 49,522 |  |  | Floating |
Condo Pre-development - United Kingdom (10) |  | Sept-16 |  |  | 81,048 |  |  | 81,048 |  |  | Floating |
Total - Subordinate to third party commercial mortgage loans |  |  | $ | 912,678 |  |  | $ | 905,256 |  |  |  |
Total/Weighted Average |  |  | $ | 939,006 |  |  | $ | 931,351 |  |  |  |
(1) | At December 31, 2015, this loan was pledged to secure borrowings under the JPMorgan Facility. See "Note 8 –Borrowings Under Repurchase Agreements" for a description of this facility.
(2) | Includes two one-year extension options subject to certain conditions and the payment of an extension fee. As of December 31, 2015, the Company had $12,478 of unfunded loan commitments related to this loan.
(3) | Includes two one-year extension options subject to certain conditions and the payment of an extension fee.
(4) | Includes three one-year extension options subject to certain conditions and the payment of an extension fee.
(5) | Includes two one-year extension options subject to certain conditions and the payment of an extension fee. As of December 31, 2015, the Company had $785 of unfunded loan commitments related to this loan.
(6) | Includes a one-year extension option subject to certain conditions and the payment of an extension fee. As of December 31, 2015, the Company had $41,160 of unfunded loan commitments related to this loan.
(7) | Includes a one-year extension option subject to certain conditions and the payment of an extension fee.
(8) | Includes four one-year extension options subject to certain conditions and the payment of an extension fee.
(9) | Includes a six-month extension option subject to certain conditions and the payment of a fee.
(10) | Includes a three-month extension option subject to certain conditions and the payment of a fee.

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