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MORTGAGE AND OTHER NOTES RECEIVABLE
 12 Months Ended
Dec. 31, 2015
Mortgage and Other Notes Receivable [Abstract]  
MORTGAGE AND OTHER NOTES RECEIVABLE
MORTGAGE AND OTHER NOTES RECEIVABLE
Each of the Company's mortgage notes receivable is collateralized by either a first mortgage, a second mortgage or by an assignment of 100% of the partnership interests that own the real estate assets.  Other notes receivable include amounts due from tenants or government sponsored districts and unsecured notes received from third parties as whole or partial consideration for property or investments.  The Company reviews its mortgage and other notes receivable to determine if the balances are realizable based on factors affecting the collectability of those balances.  Factors may include credit quality, timeliness of required periodic payments, past due status and management discussions with obligors.  The Company believes that its mortgage and other notes receivable balance is fully collectible as of December 31, 2015.
Mortgage and other notes receivable consist of the following:
 
 
 
 
As of December 31, 2015
 
As of December 31, 2014
 
 
Maturity Date
 
Interest Rate
 
Balance
 
Interest Rate
 
Balance
Mortgages:
 
 
 
 
 
 
 
 
 
 
Columbia Place Outparcel (1)
 
Feb 2022
 
5.00%
 
$
342

 
5.00%
 
$
360

Park Place
 
May 2022
 
5.00%
 
1,369

 
5.00%
 
1,566

Village Square
 
Mar 2016
 
3.50%
 
1,685

 
3.50%
 
1,711

Other
 
Dec 2016 -
Jan 2047
 
2.93% - 9.50%
 
4,380

 
2.67% - 9.50%
 
5,686

 
 
 
 
 
 
7,776

 
 
 
9,323

Other Notes Receivable:
 
 
 
 
 
 
 
 
 
 
Horizon Group (2)
 
Nov 2016
 
7.00%
 
3,096

 
—%
 
—

RED Development Inc.
 
Nov 2023
 
5.00%
 
7,366

 
5.00%
 
7,429

Woodstock land (3)
 
Feb 2016
 
10.00%
 
—

 
10.00%
 
3,059

 
 
 
 
 
 
10,462

 
 
 
10,488

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
18,238

 
 
 
$
19,811


(1)
In the fourth quarter of 2014, Columbia Joint Venture, a subsidiary of the Company, received a $360 promissory note in conjunction with the $400 sale of an outparcel.
(2)
In the fourth quarter of 2015, Mortgage Holdings, LLC, a subsidiary of the Company, entered into a $5,280 loan agreement, with an affiliate of Horizon Group Properties, Inc., the Company's noncontrolling interest partner in an outlet center project. The loan is secured by a pledge of Horizon Group Properties' interest in another outlet center project owned in a joint venture with the Company.
(3)
In the fourth quarter of 2015, Woodstock GA Investments, LLC, a joint venture in which the Company owns a 75.0% interest, and other partners, sold their interests and closed on a $2,600 loan, which was used to repay the loan secured by an interest in land in Woodstock, GA, adjacent to the site of The Outlet Shoppes at Atlanta. The note receivable had previously been extended through several amendments in 2014 and 2015.