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Mezzanine Loan and Preferred Equity Investments

9 Months Ended

Sep. 30, 2017

Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net [Abstract]

Mezzanine Loan and Preferred Equity Investments

Mezzanine Loan and Preferred Equity Investments

Mezzanine loan and preferred equity investments consist of the following as of September 30, 2017 and December 31, 2016 (dollar amounts in thousands):

	September 30, 2017				December 31, 2016
Investment amount	$	124,172			$	101,154
Deferred loan fees, net	(1,594		)		(1,004		)
Total	$	122,578			$	100,150

There were no delinquent mezzanine loan or preferred equity investments as of September 30, 2017 and December 31, 2016.

The geographic concentrations of credit risk exceeding 5% of the total mezzanine loan and preferred equity investment amounts as of September 30, 2017 and December 31, 2016 are as follows:

	September 30, 2017			December 31, 2016
Texas	27.5	%		43.3	%
New York	21.6	%		—
Virginia	12.3	%		14.9	%
South Carolina	7.9	%		9.4	%
Kentucky	5.9	%		7.2	%

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- Definition

The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-URI http://asc.fasb.org/topic&trid=2197479

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- References

No definition available.

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