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Preferred Equity and Mezzanine Loan Investments

3 Months Ended

Mar. 31, 2018

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

Preferred Equity and Mezzanine Loan Investments

Preferred Equity and Mezzanine Loan Investments

Preferred equity and mezzanine loan investments consist of the following as of March 31, 2018 and December 31, 2017 (dollar amounts in thousands):

	March 31, 2018				December 31, 2017
Investment amount	$	155,604			$	140,560
Deferred loan fees, net	(1,598		)		(1,640		)
Total	$	154,006			$	138,920

There were no delinquent preferred equity and mezzanine loan investments as of March 31, 2018 and December 31, 2017.

The geographic concentrations of credit risk exceeding 5% of the total preferred equity and mezzanine loan investment amounts as of March 31, 2018 and December 31, 2017 are as follows:

	March 31, 2018			December 31, 2017
New York	22.0	%		24.1	%
Texas	21.7	%		24.3	%
Florida	15.3	%		3.9	%
Virginia	9.8	%		10.8	%
Alabama	6.5	%		7.1	%
South Carolina	6.4	%		7.0	%

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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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