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Fair Values (Tables)
 3 Months Ended
Mar. 31, 2018
Fair Value Disclosures [Abstract]  
Schedule of assets and liabilities recorded at fair value on a recurring and non-recurring basis by levels
The following fair value hierarchy table summarizes the Company's assets and liabilities recorded at fair value on a recurring and non-recurring basis by the above categories ($ in thousands):
 
 
 
Fair Value Using
 
Total
 
Quoted market
prices in
active markets
(Level 1)
 
Significant other
observable
inputs
(Level 2)
 
Significant
unobservable
inputs
(Level 3)
As of March 31, 2018
 
 
 
 
 
 
 
Recurring basis:
 
 
 
 
 
 
 
Available-for-sale securities(1)
$
21,835

 
$
—

 
$
—

 
$
21,835

Non-recurring basis:
 
 
 
 
 
 
 
Impaired real estate available and held for sale(2)
6,041

 
—

 
—

 
6,041

 
 
 
 
 
 
 
 
As of December 31, 2017
 
 
 
 
 
 
 
Recurring basis:
 
 
 
 
 
 
 
Available-for-sale securities(1)
$
22,842

 
$
—

 
$
—

 
$
22,842

Non-recurring basis:
 
 
 
 
 
 
 
Impaired real estate(3)
12,400

 
—

 
—

 
12,400

Impaired real estate available and held for sale(4)
800

 
—

 
—

 
800

Impaired land and development(5)
21,400

 
—

 
—

 
21,400


____________________________________________________________
(1)
The fair value of the Company's available-for-sale securities are based upon unadjusted third-party broker quotes and are classified as Level 3.
(2)
The Company recorded an impairment on a residential real estate asset available and held for sale with a fair value of $6.0 million due to impending contracts to sell the remaining four condominium units at the property.
(3)
The Company recorded an impairment on a real estate asset with a fair value of $12.4 million based on market comparable sales.
(4)
The Company recorded an impairment on a residential real estate asset available and held for sale based on market comparable sales.
(5)
The Company recorded an impairment on a land and development asset with a fair value of $21.4 million based on a discount rate of 6% and a 10 year holding period.
Summary of changes in Level 3 available-for-sale securities reported at fair value
The following table summarizes changes in Level 3 available-for-sale securities reported at fair value on the Company's consolidated balance sheets for the three months ended March 31, 2018 and 2017 ($ in thousands):
 
 
2018
 
2017
Beginning balance
 
$
22,842

 
$
21,666

Repayments
 
(36
)
 
(10
)
Unrealized gains recorded in other comprehensive income
 
(971
)
 
(17
)
Ending balance
 
$
21,835

 
$
21,639