Subordinate Loans (Tables)

12 Months Ended

Dec. 31, 2016

Subordinate Mortgage Portfolio Segment [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 as of December 31, 2015:



Description	Maturity Date (2)	Current Principal Balance		Carrying Value		Unfunded Commitment	Fixed / Floating
Subordinate to the Company's commercial mortgage loans
Condo Conversion – 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)	Sept-18	2,595		2,458		12,478	Floating
Multifamily - Williston, ND (1)	Nov-17	5,000		5,000		—	Floating
Total - Subordinate to the Company's commercial mortgage loans		$	26,328	$	26,095	$12,478

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	Dec-16	19,500		19,377		—	Fixed
Mixed Use - London, England	Jan-16	50,676		50,676		—	Fixed
Healthcare Portfolio - Various	Jun-16	39,223		39,223		—	Floating
Ski Resort - Big Sky, MT	Sept-20	15,000		14,878		—	Fixed
Mixed Use - New York, NY	Dec-17	88,368		87,818		785	Floating
Senior Housing - United Kingdom	Dec-17	79,735		79,735		—	Floating
Hotel - Burbank, CA	Jan-20	20,000		20,000		—	Fixed
Multifamily Portfolio - Florida	May-17	22,000		21,895		—	Floating
Multifamily Portfolio - Florida	May-17	15,500		15,426		—	Floating
Mixed Use - Various	May-17	45,000		44,854		—	Floating
Hotel - Phoenix, AZ	Jul-25	25,000		25,000		—	Fixed
Hotel - Washington, DC	Jul-17	20,000		19,934		—	Floating
Condo Development - New York, NY	Jul-19	34,184		33,567		41,160	Floating
Condo Conversion - New York, NY	Aug-18	52,418		51,941		—	Floating
Mixed Use - New York, NY	Oct-18	30,000		29,785		—	Floating
Destination Resort - Various	May-18	75,000		71,362		—	Floating
Multifamily - New York, NY	Nov-18	55,000		54,558		—	Floating
Hotel - New York, NY	Mar-17	50,000		49,522		—	Floating
Condo Pre-development - United Kingdom	Sept-16	81,048		81,048		—	Floating
Total - Subordinate to third party commercial mortgage loans		$	912,678	$	905,256	$41,945
Total		$	939,006	$	931,351	$54,423


(1)	At December 31, 2015, this loan was pledged to secure borrowings under the JPMorgan Facility. See "Note 8 – Borrowings" for a description of this facility.


(2)	Represents contractual maturity date excluding extension options.

The Company’s subordinate loan portfolio was comprised of the following as of December 31, 2016:



Description	Maturity Date (1)	Current Principal Balance		Carrying Value		Unfunded Commitment		Fixed / Floating
Subordinate to the Company's commercial mortgage loans
Hotel - New York, NY	Sept-18	$	7,573	$	7,513	$	7,501	Floating
Multifamily - Williston, ND	Nov-17	5,000		—		—		Floating
Total - Subordinate to the Company's commercial mortgage loans		$	12,573	$	7,513	$	7,501

Subordinate to third party commercial mortgage loans
Mixed Use – North Carolina	Aug-22	$	6,525	$	6,525	$	—	Fixed
Office Complex - Missouri	Oct-22	9,414		9,414		—		Fixed
Hotel Portfolio – Rochester, MN	Feb-18	23,863		23,863		—		Fixed
Warehouse Portfolio - Various	May-23	32,000		32,000		—		Fixed
Office Condo - New York, NY	Jul-22	14,000		13,679		—		Fixed
Ski Resort - Big Sky, MT	Sept-20	15,000		14,773		—		Fixed
Mixed Use - New York, NY	Dec-17	99,581		99,660		—		Floating
Senior Housing - United Kingdom	Dec-17	41,693		41,693		—		Floating
Hotel - Burbank, CA	Jan-20	20,000		20,000		—		Fixed
Multifamily Portfolio - Florida	May-17	22,000		21,967		—		Floating
Multifamily Portfolio - Florida	May-17	15,500		15,477		—		Floating
Mixed Use - Various	May-17	45,000		45,174		—		Floating
Hotel - Phoenix, AZ	Jul-25	25,000		25,000		—		Fixed
Hotel - Washington, DC	Jul-17	20,000		19,978		—		Floating
Condo Development - New York, NY	Jul-19	56,925		56,693		19,830		Floating
Condo Conversion - New York, NY	Aug-18	59,636		59,442		—		Floating
Mixed Use - New York, NY	Oct-18	30,000		29,926		—		Floating
Destination Resort - Various	May-18	75,000		72,877		—		Floating
Multifamily - New York, NY	Nov-18	55,000		54,775		—		Floating
Hotel - New York, NY	Mar-17	50,000		50,228				Floating
Condo Pre-development - United Kingdom	Sept-17	123,400		123,400		—		Floating
Condo Conversion - New York, NY	Jul-19	48,944		48,399		28,056		Floating
Healthcare Portfolio - Various	Oct-18	130,000		128,856		—		Floating
Mixed Use - New York, NY	Oct-19	30,175		29,924		—		Floating
Total - Subordinate to third party commercial mortgage loans		$	1,048,656	$	1,043,723	$	47,886
Total		$	1,061,229	$	1,051,236	$	55,387


(1)	Represents contractual maturity date excluding extension options.