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SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE | 12 Months Ended
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Dec. 31, 2023
SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE |
Schedule IV MORTGAGE LOANS ON REAL ESTATE | SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE FOR THE YEAR ENDED DECEMBER 31, 2023 ​ There was a portfolio of four commercial loan investments and one preferred equity investment which is classified as a commercial loan investment as of December 31, 2023 (in thousands). ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Description | ​ |  | Interest Rate | ​ |  | Final Maturity Date | ​ |  | Periodic Payment Terms | ​ | Prior Liens | ​ | Face Amount of Mortgages | ​ | Carrying Amounts of Mortgages (2) | ​ | Principal Amount of Loans Subject to Delinquent Principal or Interest
Construction Loan – The Exchange At Gwinnett – Buford, GA | ​ | ​ | 7.25% | ​ | ​ | January 2024 | ​ | ​ | Monthly Interest Payments | ​ | ​ | — | ​ | ​ | 1,857 | ​ | ​ | 1,854 | ​ | ​ | —
Preferred Investment – Watters Creek – Allen, TX | ​ | ​ | 8.75% | ​ | ​ | April 2025 | ​ | ​ | Monthly Interest Payments | ​ | ​ | — | ​ | ​ | 30,000 | ​ | ​ | 29,937 | ​ | ​ | —
Mortgage Note – Founders Square – Dallas, TX | ​ | ​ | 8.75% | ​ | ​ | March 2026 | ​ | ​ | Monthly Interest Payments | ​ | ​ | ​ | ​ | ​ | 15,000 | ​ | ​ | 14,892 | ​ | ​ | —
Promissory Note – Main Street – Daytona Beach, FL | ​ | ​ | 7.00% | ​ | ​ | May 2033 | ​ | ​ | Monthly Interest Payments | ​ | ​ | ​ | ​ | ​ | 400 | ​ | ​ | 400 | ​ | ​ | —
Mortgage Note – Sabal Pavilion – Tampa, FL | ​ | ​ | 7.50% | ​ | ​ | June 2024 | ​ | ​ | Monthly Interest Payments | ​ | ​ | — | ​ | ​ | 15,400 | ​ | ​ | 15,393 | ​ | ​ | —
Totals | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | — | ​ | $ | 62,657 | ​ | $ | 62,476 | ​ | $ | —
CECL Reserve | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (627) | ​ | ​ | ​
Total Commercial Loans and Investments | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 61,849 | ​ | ​ | ​
​ The following represents the activity within the Company’s commercial loans and investments segment for the years ended December 31, 2023, 2022, and 2021 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2023 | ​ | 2022 | ​ | 2021
Balance at Beginning of Year | ​ | $ | 31,908 | ​ | $ | 39,095 | ​ | $ | 38,320
Additions During the Year: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
New Mortgage Loans | ​ | ​ | 32,711 | ​ | ​ | 53,282 | ​ | ​ | 364
Collection of Origination Fees | ​ | ​ | 158 | ​ | ​ | 87 | ​ | ​ | —
Accretion of Origination Fees (1) | ​ | ​ | 137 | ​ | ​ | 174 | ​ | ​ | 2
Gain on Sale of Loans | ​ | ​ | — | ​ | ​ | 807 | ​ | ​ | —
Imputed Interest Over Rent Payments on Ground Lease Loan | ​ | ​ | — | ​ | ​ | 97 | ​ | ​ | 409
Deductions During the Year: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Collection of Principal | ​ | ​ | (986) | ​ | ​ | (61,634) | ​ | ​ | —
Foreclosure | ​ | ​ | (1,452) | ​ | ​ | — | ​ | ​ | —
Impairment / CECL Reserve | ​ | ​ | (627) | ​ | ​ | — | ​ | ​ | —
Balance at End of Year | ​ | $ | 61,849 | ​ | $ | 31,908 | ​ | $ | 39,095
(1) | Non-cash accretion of loan origination fees.
(2) | The aggregate carrying amount of mortgages for Federal income tax purposes at December 31, 2023 totaled $61.8 million.

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- Definition The entire disclosure for investment in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate. Includes, but is not limited to, information for each mortgage loan receivable equaling or exceeding 3 percent of carrying amount of mortgage. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 29 -Publisher SEC Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 948 -SubTopic 310 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-29) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479851/948-310-S99-1 + Details
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