Loan Participations Payable, net

6 Months Ended

Jun. 30, 2018

Loan Participations Payable [Abstract]

The Company's loan participations payable, net were as follows ($ in thousands):



	Carrying Value as of
	June 30, 2018			December 31, 2017
Loan participations payable⁽¹⁾	$	14,938		$	102,737
Debt discounts and deferred financing costs, net	(229		)	(312		)
Total loan participations payable, net	$	14,709		$	102,425

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(1)

One loan participation payable with a carrying value of $93.8 million and a corresponding loan receivable balance of $93.6 million was fully repaid during the six months ended June 30, 2018. As of June 30, 2018, the Company had one loan participation payable with an interest rate of 6.6%. As of December 31, 2017, the Company had two loan participations payable with a weighted average interest rate of 6.5%.

Loan participations represent transfers of financial assets that did not meet the sales criteria established under ASC Topic 860 and are accounted for as loan participations payable, net as of June 30, 2018 and December 31, 2017. As of June 30, 2018 and December 31, 2017, the corresponding loan receivable balances were $14.7 million and $102.3 million, respectively, and are included in "Loans receivable and other lending investments, net" on the Company's consolidated balance sheets. The principal and interest due on these loan participations payable are paid from cash flows of the corresponding loans receivable, which serve as collateral for the participations.