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Loan Participations Payable, net

6 Months Ended

Jun. 30, 2019

Transfers and Servicing [Abstract]

Loan Participations Payable, net

Loan Participations Payable, net

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

		Carrying Value as of
		June 30, 2019				December 31, 2018
Loan participations payable(1)		$	30,037			$	22,642
Debt discounts and deferred financing costs, net		(89		)		(158		)
Total loan participations payable, net		$	29,948			$	22,484

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(1) As of June 30, 2019 and December 31, 2018, the Company had one loan participation payable with an interest rate of 7.0%.

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, 2019 and December 31, 2018. As of June 30, 2019 and December 31, 2018, the corresponding loan receivable balances were $30.1 million and $22.5 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.

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- References

No definition available.

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- Definition

The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 860
-URI http://asc.fasb.org/topic&trid=2197590

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