XML 62 R35.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Loans Receivable and Other Lending Investments, net (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2017
Receivables [Abstract] |
Schedule of the Company's loans and other lending investments by class | The following is a summary of the Company's loans receivable and other lending investments by class ($ in thousands):
| As of December 31,
Type of Investment | 2017 |  | 2016
Senior mortgages | $ | 791,152 |  |  | $ | 940,738 |
Corporate/Partnership loans | 488,921 |  |  | 490,389 |
Subordinate mortgages | 9,495 |  |  | 24,941 |
Total gross carrying value of loans | 1,289,568 |  |  | 1,456,068 |
Reserves for loan losses | (78,489 | ) |  | (85,545 | )
Total loans receivable, net | 1,211,079 |  |  | 1,370,523 |
Other lending investments—securities | 89,576 |  |  | 79,916 |
Total loans receivable and other lending investments, net | $ | 1,300,655 |  |  | $ | 1,450,439 |
Schedule of changes in the Company's reserve for loan losses | Changes in the Company's reserve for loan losses were as follows ($ in thousands):
| For the Years Ended December 31,
| 2017 |  | 2016 |  | 2015
Reserve for loan losses at beginning of period | $ | 85,545 |  |  | $ | 108,165 |  |  | $ | 98,490 |
(Recovery of) provision for loan losses(1) | (5,828 | ) |  | (12,514 | ) |  | 36,567 |
Charge-offs | (1,228 | ) |  | (10,106 | ) |  | (26,892 | )
Reserve for loan losses at end of period | $ | 78,489 |  |  | $ | 85,545 |  |  | $ | 108,165 |
______________________________________________________________________________
(1) | For the years ended December 31, 2016 and 2015, the provision for loan losses includes recoveries of previously recorded asset-specific loan loss reserves of $13.7 million and $0.6 million, respectively.
Schedule of recorded investment in loans and associated reserve for loan losses | The Company's recorded investment in loans (comprised of a loan's carrying value plus accrued interest) and the associated reserve for loan losses were as follows ($ in thousands):
| Individually Evaluated for Impairment(1) |  | Collectively Evaluated for Impairment(2) |  | Total
As of December 31, 2017 |  |  |  |  |
Loans | $ | 237,877 |  |  | $ | 1,056,944 |  |  | $ | 1,294,821 |
Less: Reserve for loan losses | (60,989 | ) |  | (17,500 | ) |  | (78,489 | )
Total(3) | $ | 176,888 |  |  | $ | 1,039,444 |  |  | $ | 1,216,332 |
As of December 31, 2016 |  |  |  |  |
Loans | $ | 253,941 |  |  | $ | 1,209,062 |  |  | $ | 1,463,003 |
Less: Reserve for loan losses | (62,245 | ) |  | (23,300 | ) |  | (85,545 | )
Total(3) | $ | 191,696 |  |  | $ | 1,185,762 |  |  | $ | 1,377,458 |
_______________________________________________________________________________
(1) | The carrying value of these loans include unamortized discounts, premiums, deferred fees and costs totaling net discounts of $0.7 million and $0.4 million as of December 31, 2017 and 2016, respectively. The Company's loans individually evaluated for impairment primarily represent loans on non-accrual status and therefore, the unamortized amounts associated with these loans are not currently being amortized into income. During the year ended December 31, 2016, the Company transferred a loan with a gross carrying value of $157.2 million to non-performing status due to the initiation of bankruptcy proceedings related to the collateral, which resulted in the release of $11.6 million of the general reserve. The Company performed a valuation and recorded a specific reserve of $12.5 million.
(2) | The carrying value of these loans include unamortized discounts, premiums, deferred fees and costs totaling net premiums of $6.2 million and $1.9 million as of December 31, 2017 and 2016, respectively.
(3) | The Company's recorded investment in loans as of December 31, 2017 and 2016 includes accrued interest of $5.3 million and $6.9 million, respectively, which are included in "Accrued interest and operating lease income receivable, net" on the Company's consolidated balance sheets. As of December 31, 2017 and 2016, excludes $89.6 million and $79.9 million, respectively, of securities that are evaluated for impairment under ASC 320.
Schedule of investment in performing loans, presented by class and by credit quality, as indicated by risk rating | The Company's recorded investment in performing loans, presented by class and by credit quality, as indicated by risk rating, was as follows ($ in thousands):
| As of December 31,
| 2017 |  | 2016
| Performing Loans |  | Weighted Average Risk Ratings |  | Performing Loans |  | Weighted Average Risk Ratings
Senior mortgages | $ | 713,057 |  |  | 2.72 |  |  | $ | 859,250 |  |  | 3.12 |
Corporate/Partnership loans | 334,364 |  |  | 2.85 |  |  | 335,677 |  |  | 3.09 |
Subordinate mortgages | 9,523 |  |  | 3.00 |  |  | 14,135 |  |  | 3.00 |
Total | $ | 1,056,944 |  |  | 2.77 |  |  | $ | 1,209,062 |  |  | 3.11 |
Schedule of recorded investment in loans, aged by payment status and presented by class | The Company's recorded investment in loans, aged by payment status and presented by class, were as follows ($ in thousands):
As of December 31, 2017 | Current |  | Less Than and Equal to 90 Days |  | Greater Than 90 Days(1) |  | Total Past Due |  | Total
Senior mortgages | $ | 719,057 |  |  | $ | — |  |  | $ | 75,343 |  |  | $ | 75,343 |  |  | $ | 794,400 |
Corporate/Partnership loans | 334,364 |  |  | — |  |  | 156,534 |  |  | 156,534 |  |  | 490,898 |
Subordinate mortgages | 9,523 |  |  | — |  |  | — |  |  | — |  |  | 9,523 |
Total | $ | 1,062,944 |  |  | $ | — |  |  | $ | 231,877 |  |  | $ | 231,877 |  |  | $ | 1,294,821 |
As of December 31, 2016 |  |  |  |  |  |  |  |  |
Senior mortgages | $ | 868,505 |  |  | $ | — |  |  | $ | 76,677 |  |  | $ | 76,677 |  |  | $ | 945,182 |
Corporate/Partnership loans | 335,677 |  |  | — |  |  | 157,146 |  |  | 157,146 |  |  | 492,823 |
Subordinate mortgages | 24,998 |  |  | — |  |  | — |  |  | — |  |  | 24,998 |
Total | $ | 1,229,180 |  |  | $ | — |  |  | $ | 233,823 |  |  | $ | 233,823 |  |  | $ | 1,463,003 |
_______________________________________________________________________________
(1) | As of December 31, 2017, the Company had four loans which were greater than 90 days delinquent and were in various stages of resolution, including legal proceedings, environmental concerns and foreclosure-related proceedings, and ranged from 1.0 to 9.0 years outstanding. As of December 31, 2016, the Company had four loans which were greater than 90 days delinquent and were in various stages of resolution, including legal proceedings, environmental concerns and foreclosure-related proceedings, and ranged from 1.0 to 8.0 years outstanding.
Schedule of recorded investment in impaired loans, presented by class | The Company's recorded investment in impaired loans, presented by class, were as follows ($ in thousands)(1):
| As of December 31, 2017 |  | As of December 31, 2016
| Recorded Investment |  | Unpaid Principal Balance |  | Related Allowance |  | Recorded Investment |  | Unpaid Principal Balance |  | Related Allowance
With no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |
Subordinate mortgages | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 10,862 |  |  | $ | 10,846 |  |  | $ | — |
Subtotal | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 10,862 |  |  | $ | 10,846 |  |  | $ | — |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |
Senior mortgages | $ | 81,343 |  |  | $ | 81,431 |  |  | $ | (48,518 | ) |  | $ | 85,933 |  |  | $ | 85,780 |  |  | $ | (49,774 | )
Corporate/Partnership loans | 156,534 |  |  | 145,849 |  |  | (12,471 | ) |  | 157,146 |  |  | 146,783 |  |  | (12,471 | )
Subtotal | $ | 237,877 |  |  | $ | 227,280 |  |  | $ | (60,989 | ) |  | $ | 243,079 |  |  | $ | 232,563 |  |  | $ | (62,245 | )
Total: |  |  |  |  |  |  |  |  |  |  |
Senior mortgages | $ | 81,343 |  |  | $ | 81,431 |  |  | $ | (48,518 | ) |  | $ | 85,933 |  |  | $ | 85,780 |  |  | $ | (49,774 | )
Corporate/Partnership loans | 156,534 |  |  | 145,849 |  |  | (12,471 | ) |  | 157,146 |  |  | 146,783 |  |  | (12,471 | )
Subordinate mortgages | — |  |  | — |  |  | — |  |  | 10,862 |  |  | 10,846 |  |  | — |
Total | $ | 237,877 |  |  | $ | 227,280 |  |  | $ | (60,989 | ) |  | $ | 253,941 |  |  | $ | 243,409 |  |  | $ | (62,245 | )
_______________________________________________________________________________
(1) | All of the Company's non-accrual loans are considered impaired and included in the table above.
Schedule of average recorded investment in impaired loans and interest income recognized, presented by class | The Company's average recorded investment in impaired loans and interest income recognized, presented by class, were as follows ($ in thousands):
| For the Years Ended December 31,
| 2017 |  | 2016 |  | 2015
| Average Recorded Investment |  | Interest Income Recognized |  | Average Recorded Investment |  | Interest Income Recognized |  | Average Recorded Investment |  | Interest Income Recognized
With no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |
Senior mortgages | $ | — |  |  | $ | — |  |  | $ | 3,661 |  |  | $ | 226 |  |  | $ | — |  |  | $ | — |
Subordinate mortgages | 6,582 |  |  | 1,127 |  |  | 6,799 |  |  | — |  |  | — |  |  | — |
Subtotal | 6,582 |  |  | 1,127 |  |  | 10,460 |  |  | 226 |  |  | — |  |  | — |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |
Senior mortgages | 82,749 |  |  | — |  |  | 118,921 |  |  | — |  |  | 129,135 |  |  | 38 |
Corporate/Partnership loans | 156,756 |  |  | — |  |  | 66,101 |  |  | — |  |  | 24,252 |  |  | 12 |
Subtotal | 239,505 |  |  | — |  |  | 185,022 |  |  | — |  |  | 153,387 |  |  | 50 |
Total: |  |  |  |  |  |  |  |  |  |  |
Senior mortgages | 82,749 |  |  | — |  |  | 122,582 |  |  | 226 |  |  | 129,135 |  |  | 38 |
Corporate/Partnership loans | 156,756 |  |  | — |  |  | 66,101 |  |  | — |  |  | 24,252 |  |  | 12 |
Subordinate mortgages | 6,582 |  |  | 1,127 |  |  | 6,799 |  |  | — |  |  | — |  |  | — |
Total | $ | 246,087 |  |  | $ | 1,127 |  |  | $ | 195,482 |  |  | $ | 226 |  |  | $ | 153,387 |  |  | $ | 50 |
Schedule of other lending investments - securities | Other lending investments—securities includes the following ($ in thousands):
| Face Value |  | Amortized Cost Basis |  | Net Unrealized Gain |  | Estimated Fair Value |  | Net Carrying Value
As of December 31, 2017 |  |  |  |  |  |  |  |  |
Available-for-Sale Securities |  |  |  |  |  |  |  |  |
Municipal debt securities | $ | 21,230 |  |  | $ | 21,230 |  |  | $ | 1,612 |  |  | $ | 22,842 |  |  | $ | 22,842 |
Held-to-Maturity Securities |  |  |  |  |  |  |  |  |
Debt securities | 66,618 |  |  | 66,734 |  |  | 1,581 |  |  | 68,315 |  |  | 66,734 |
Total | $ | 87,848 |  |  | $ | 87,964 |  |  | $ | 3,193 |  |  | $ | 91,157 |  |  | $ | 89,576 |
As of December 31, 2016 |  |  |  |  |  |  |  |  |
Available-for-Sale Securities |  |  |  |  |  |  |  |  |
Municipal debt securities | $ | 21,240 |  |  | $ | 21,240 |  |  | $ | 426 |  |  | $ | 21,666 |  |  | $ | 21,666 |
Held-to-Maturity Securities |  |  |  |  |  |  |  |  |
Debt securities | 58,454 |  |  | 58,250 |  |  | 2,753 |  |  | 61,003 |  |  | 58,250 |
Total | $ | 79,694 |  |  | $ | 79,490 |  |  | $ | 3,179 |  |  | $ | 82,669 |  |  | $ | 79,916 |
Schedule of contractual maturities of the Company's securities | As of December 31, 2017, the contractual maturities of the Company's securities were as follows ($ in thousands):
| Held-to-Maturity Securities |  | Available-for-Sale Securities
| Amortized Cost Basis |  | Estimated Fair Value |  | Amortized Cost Basis |  | Estimated Fair Value
Maturities |  |  |  |  |  |  |
Within one year | $ | 48,468 |  |  | $ | 49,451 |  |  | $ | — |  |  | $ | — |
After one year through 5 years | 18,266 |  |  | 18,864 |  |  | — |  |  | — |
After 5 years through 10 years | — |  |  | — |  |  | — |  |  | — |
After 10 years | — |  |  | — |  |  | 21,230 |  |  | 22,842 |
Total | $ | 66,734 |  |  | $ | 68,315 |  |  | $ | 21,230 |  |  | $ | 22,842 |

X
- Definition Tabular disclosure by class of the average recorded investment in impaired loans and the related interest income recognized. + References No definition available. + Details
Name: | star_ImpairedFinancingReceivablesAverageRecordedInvestmentAndInterestIncomeRecognizedTableTextBlock
Namespace Prefix: | star_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the Company's recorded investment in loans and the associated reserve for loan losses. + References No definition available. + Details
Name: | star_ScheduleOfInvestmentInLoansAndAssociatedReserveForLoanLossesTableTextBlock
Namespace Prefix: | star_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of loans and other lending investments by class. Includes the gross carrying value of a loan by class, reserve for loan losses, and the net carrying value as of the Balance Sheet date. + References No definition available. + Details
Name: | star_ScheduleOfLoansAndOtherLendingInvestmentsTableTextBlock
Namespace Prefix: | star_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financing receivables (examples of financing receivables include loans, trade accounts receivable and notes receivable) and activity in the allowance for credit losses account. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -URI http://asc.fasb.org/extlink&oid=84173941&loc=SL6953423-111524 + Details
Name: | us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 55 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=82894031&loc=SL6953803-111525 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=84173941&loc=SL6953659-111524 + Details
Name: | us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of impaired financing receivables. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=84173941&loc=d3e5212-111524 + Details
Name: | us-gaap_ImpairedFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=82896770&loc=d3e26626-111562 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.4) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27232-111563 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=82896770&loc=d3e26610-111562 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27161-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.2,12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_MarketableSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financing receivables that are past due but not impaired, financing receivables that are 90 days past due and still accruing, and financing receivables on nonaccrual status. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=84173941&loc=d3e5111-111524 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7A -URI http://asc.fasb.org/extlink&oid=84173941&loc=SL6953401-111524 + Details
Name: | us-gaap_PastDueFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ReceivablesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration