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Schedule IV - Mortgage Loans on Real Estate | 12 Months Ended
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Dec. 31, 2016
Mortgage Loans on Real Estate [Abstract] |
Schedule IV - Mortgage Loans on Real Estate | Schedule IV — Mortgage Loans on Real Estate December 31, 2016
Property Type | Location |  | Contractual Interest Rate |  | Final Extended Maturity Date (1) |  | Periodic Payment Terms |  | Face amount of loans |  | Carrying amount of loans |
Commercial mortgage loans |  |  |  |  |  |  |  |  |  |  |  |
Condo Construction | Maryland |  | L+15.00% |  | Apr-17 |  | Interest only |  | $51,695 |  | $52,476 |
Vacation Home Portfolio | Various |  | 7.50% |  | Apr-19 |  | Principal and interest |  | 88,876 |  | 88,195 |
Hotel | Pennsylvania |  | L+4.55% |  | May-19 |  | Interest only |  | 34,000 |  | 33,987 |
Mixed Use | Ohio |  | L+9.00% |  | May-20 |  | Interest only |  | 165,000 |  | 163,987 |
Multifamily | North Dakota |  | L+5.90% |  | Nov-19 |  | Interest only |  | 49,706 |  | 39,713 |
Vacation Home Portfolio | Various US cities |  | 7.00% |  | Nov-21 |  | Interest only |  | 59,500 |  | 59,193 |
Mixed Use | New York |  | L+7.00% |  | Mar-17 |  | Interest only |  | 85,770 |  | 86,142 |
Retail redevelopment | Florida |  | L+6.00% |  | Jan-18 |  | Interest only |  | 45,000 |  | 45,415 |
Retail | New York |  | L+7.00% |  | Mar-17 |  | Interest only |  | 23,000 |  | 23,012 |
Hotel | New York |  | L+5.25% |  | Sept-20 |  | Interest only |  | 108,857 |  | 108,768 |
Retail | New York |  | L+7.00% |  | Mar-17 |  | Interest only |  | 5,910 |  | 5,921 |
Hotel | U.S. Virgin Islands |  | L+4.95% |  | Jan-21 |  | Interest only |  | 42,000 |  | 41,795 |
Office | Virginia |  | L+5.15% |  | Jan-20 |  | Interest only |  | 54,000 |  | 53,849 |
Retail redevelopment | Florida |  | L+6.25% |  | Jan-19 |  | Interest only |  | 220,000 |  | 218,771 |
Office | Massachusetts |  | L+6.25% |  | Sept-18 |  | Interest only |  | 28,659 |  | 28,543 |
Mixed Use | New York |  | L+6.00% |  | Dec-18 |  | Interest only |  | 45,789 |  | 45,541 |
Condo Conversion | New York |  | L+6.50% |  | Jun-18 |  | Interest only |  | 41,016 |  | 40,825 |
Hotel | New York |  | L+6.30% |  | Aug-21 |  | Interest only |  | 78,140 |  | 77,297 |
Mixed Use | Illinois |  | L+5.50% |  | Oct-20 |  | Interest only |  | 129,397 |  | 128,271 |
Retail | New York |  | L+7.00% |  | Mar-17 |  | Interest only |  | 7,500 |  | 7,489 |
Data Center | Virginia |  | 8.00% |  | Aug-19 |  | Interest only |  | 80,000 |  | 79,634 |
Retail | New York |  | L+5.75% |  | Dec-18 |  | Interest only |  | 60,300 |  | 59,775 |
Office | New York |  | L+4.70% |  | Dec-18 |  | Interest only |  | 105,000 |  | 104,005 |
Mixed Use Pre-development | California |  | L+6.75% |  | Dec-20 |  | Interest only |  | 50,000 |  | 49,252 |
Total commercial mortgage loans |  |  |  |  |  |  |  | $1,659,115 |  | $1,641,856 |
Subordinate loans (2) |  |  |  |  |  |  |  |  |  |  |  |
Mixed Use | North Carolina |  | 11.10% |  | Aug - 22 |  | Interest only |  | $6,525 |  | $6,525 |
Office Complex | Missouri |  | 11.75% |  | Oct - 22 |  | Principal and interest |  | 9,414 |  | 9,414 |
Hotel Portfolio | Missouri |  | 11.00% |  | Feb - 18 |  | Principal and interest |  | 23,863 |  | 23,863 |
Warehouse Portfolio | Various US cities |  | 11.50% |  | May - 23 |  | Interest only |  | 32,000 |  | 32,000 |
Office Condo | New York |  | 11.25% |  | Jul - 22 |  | Interest only |  | 14,000 |  | 13,679 |
Ski Resort | Montana |  | 14.00% |  | Sept - 20 |  | Interest only |  | 15,000 |  | 14,773 |
Mixed Use | New York |  | L+10.50% |  | Dec - 19 |  | Interest only |  | 99,581 |  | 99,660 |
Senior Housing | United Kingdom |  | 3ML+8.25% |  | Dec - 19 |  | Principal and interest |  | 41,693 |  | 41,693 |
Hotel | California |  | 10.40% |  | Jan-20 |  | Interest only |  | 20,000 |  | 20,000 |
Multifamily Portfolio | Florida |  | L+11.50% |  | May-20 |  | Interest only |  | 22,000 |  | 21,967 |
Multifamily Portfolio | Florida |  | L+11.50% |  | May-20 |  | Interest only |  | 15,500 |  | 15,477 |
Mixed Use | Various US |  | L+9.05% |  | May-20 |  | Interest only |  | 45,000 |  | 45,174 |
Hotel | Arizona |  | 11.50% |  | Jul-25 |  | Interest only |  | 25,000 |  | 25,000 |
Hotel | Washington, DC |  | L+9.60% |  | Jul-19 |  | Interest only |  | 20,000 |  | 19,978 |
Condo Development | New York |  | L+12.75% |  | Jul-20 |  | Interest only |  | 56,925 |  | 56,693 |
Condo Conversion | New York |  | L+12.25% |  | Aug-20 |  | Interest only |  | 59,636 |  | 59,442 |
Mixed Use | New York |  | L+10.00% |  | Oct-19 |  | Interest only |  | 30,000 |  | 29,926 |
Hotel | New York |  | L+5.25% |  | Sept-20 |  | Interest only |  | 7,573 |  | 7,513 |
Destination Resort | Various US cities |  | L+8.90% |  | May-22 |  | Interest only |  | 75,000 |  | 72,877 |
Multifamily | New York |  | L+10.50% |  | May-19 |  | Interest only |  | 55,000 |  | 54,775 |
Hotel | New York |  | L+12.00% |  | Mar-17 |  | Interest only |  | 50,000 |  | 50,228 |
Condo Pre-development | United Kingdom |  | 3ML+12.50% |  | Dec-17 |  | Interest only |  | 123,400 |  | 123,400 |
Multifamily | North Dakota |  | L+5.90% |  | Nov-19 |  | Interest only |  | 5,000 |  | — |
Condo Conversion | New York |  | L+10.75% |  | Jul-20 |  | Interest only |  | 48,944 |  | 48,399 |
Healthcare Portfolio | Various US |  | L+10.00% |  | Oct-21 |  | Interest only |  | 130,000 |  | 128,856 |
Mixed Use | New York |  | L+12.00% |  | Oct-20 |  | Interest only |  | 30,175 |  | 29,924 |
Total subordinate loans |  |  |  |  |  |  |  |  | $1,061,229 |  | $1,051,236 |
Total |  |  |  |  |  |  |  | $2,720,344 |  | $2,693,092 | (3 | )
(1) | Assumes all extension options are exercised.
(2) | Subject to prior liens.
(3) | The aggregate cost for federal income tax purposes is $2,708,092.
The following table summarizes the changes in the carrying amounts of mortgage loans during 2016 and 2015. Reconciliation of Carrying Amount of Loans
| 2016 |  | 2015
Balance at beginning of year | $ | 1,925,652 |  |  | $ | 1,019,702 |
Funding of loans | 1,127,039 |  |  | 1,366,062 |
Sales | — |  |  | (136,573 | )
Collections of principal | (331,189 | ) |  | (348,516 | )
Participation sold | (24,051 | ) |  |
Discount accretion | 13,656 |  |  | 9,096 |
Provision for loan losses | (15,000 | ) |  | — |
Foreign currency loss | (33,383 | ) |  | (6,116 | )
Payment-in-kind | 30,368 |  |  | 21,997 |
Balance at the close of year | $ | 2,693,092 |  |  | $ | 1,925,652 |

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- Definition The entire disclosure for mortgage loans on real estate, this includes the supplemental information pertaining to each mortgage loan receivable that equals or exceeds three percent of the carrying amount of mortgages. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 948 -SubTopic 310 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-29) -URI http://asc.fasb.org/extlink&oid=6589523&loc=d3e617274-123014 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04.(c) Schedule IV) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 + Details
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