XML 22 R15.htm IDEA: XBRL DOCUMENT v3.19.3
Preferred Equity and Mezzanine Loan Investments
 9 Months Ended
Sep. 30, 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 September 30, 2019 and December 31, 2018 (dollar amounts in thousands):
 
September 30, 2019
 
December 31, 2018
Investment amount
$
180,394

 
$
166,789

Deferred loan fees, net
(1,397
)
 
(1,234
)
Total
$
178,997

 
$
165,555



There were no delinquent preferred equity or mezzanine loan investments as of September 30, 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 September 30, 2019 and December 31, 2018 are as follows:
 
September 30, 2019
 
December 31, 2018
Tennessee
12.2
%
 
6.8
%
Georgia
11.7
%
 
15.3
%
Texas
10.6
%
 
16.6
%
Alabama
10.0
%
 
8.6
%
Florida
9.4
%
 
11.3
%
South Carolina
9.1
%
 
9.5
%
Virginia
8.5
%
 
9.1
%
New Jersey
5.0
%
 
2.6
%