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Preferred Equity and Mezzanine Loan Investments

3 Months Ended

Mar. 31, 2019

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, 2019 and December 31, 2018 (dollar amounts in thousands):

	March 31, 2019				December 31, 2018
Investment amount	$	176,486			$	166,789
Deferred loan fees, net	(1,358		)		(1,234		)
Total	$	175,128			$	165,555

There were no delinquent preferred equity or mezzanine loan investments as of March 31, 2019 and December 31, 2018.

The geographic concentrations of credit risk exceeding 5% of the total preferred equity and mezzanine loan investment amounts as of March 31, 2019 and December 31, 2018 are as follows:

	March 31, 2019			December 31, 2018
Georgia	14.6	%		15.3	%
Texas	11.9	%		16.6	%
Alabama	11.1	%		8.6	%
Florida	10.8	%		11.3	%
Tennessee	10.2	%		6.8	%
South Carolina	9.1	%		9.5	%
Virginia	8.6	%		9.1	%

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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://fasb.org/us-gaap/role/ref/legacyRef
-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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