Combined Guarantor Subsidiaries - Mortgage and Other Notes Receivable

12 Months Ended

Dec. 31, 2019

Condensed Financial Statements Captions [Line Items]

Note 9 – Mortgage and Other Notes Receivable

Each of the mortgage notes receivable is collateralized by a first mortgage. Other notes receivable include amounts due from a government sponsored district for reimbursable costs pursuant to an agreement with the district. The Combined Guarantor Subsidiaries review the 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 discussion with obligors. Mortgage and other notes receivable consist of the following:

		As of December 31, 2019			As of December 31, 2018
	Maturity Date	Interest Rate	Balance		Interest Rate	Balance
Mortgages:
The Promenade ⁽¹⁾	June 2020	5.00%	$	47,514	5.00%	$	47,514
Hamilton Corner ⁽¹⁾⁽²⁾	Feb 2020	5.67%		14,295	5.67%		14,295
The Terrace ⁽¹⁾	June 2020	7.25%		11,977			—
Forum at Grandview ⁽¹⁾⁽³⁾	Sep 2023	5.25%		—	5.25%		12,400
Village Square ⁽⁴⁾	Sep 2019			—	4.00%		1,308
				73,786			75,517

Other Notes Receivable:
Community improvement district	Aug 2028	6.75%		1,230	7.50%		1,230
			$	75,016		$	76,747

(1)	The mortgaged property is owned by an entity that is controlled by the Operating Partnership and included in the Operating Partnership’s consolidated financial statements. The mortgage note receivable is interest only.

(2)	The note was amended subsequent to December 31, 2019 to extend the maturity date. See Note 15 for additional information.

(3)	The property was sold in July 2019.

(4)	The note was retired in 2019