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SCHEDULE IV MORTGAGE LOANS
 12 Months Ended
Dec. 31, 2017
Mortgage Loans on Real Estate [Abstract]  
MORTGAGE LOANS

SCHEDULE IV

 

AMERICAN REALTY INVESTORS, INC.
MORTGAGE LOANS
December 31, 2017

 

Description    Interest Rate   Final Maturity Date   Periodic Payment Terms   Prior Liens   Face Amount of Mortgage    Carrying Amount of Mortgage   Principal or Loans Subject to Delinquent Principal or Interest
                (dollars in thousands)    
                             
Christine Tunney   10.00%   09/17   Interest only paid quarterly.    —    49    48    —
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                            
Compton Partners   10.00%   09/17   Interest only paid quarterly.    —    289    289    —
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                            
David Monier   10.00%   09/17   Interest only paid quarterly.    —    97    97    —
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                            
Earl Samson III   10.00%   09/17   Interest only paid quarterly.    —    96    96    —
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                            
Edward Samson III   10.00%   09/17   Interest only paid quarterly.    —    96    96    —
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                            
H198, LLC   12.00%   01/20        —    5,907    5,907    —
Las Vegas Land                            
Hammon Operating Corporation   10.00%   09/17   Interest only paid quarterly.    —    193    193    —
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                            
Harold Wolfe   10.00%   09/17   Interest only paid quarterly.    —    193    193    —
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                            
Herrick Partners   10.00%   09/17   Interest only paid quarterly.    —    91    91    —
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                            
Mary Anna MacLean   10.00%   09/17   Interest only paid quarterly.    —    193    193    —
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                            
Michael Monier   10.00%   09/17   Interest only paid quarterly.    —    304    304    —
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                            
Michale Witte   10.00%   09/17   Interest only paid quarterly.    —    96    96    —
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                            
Palmer Brown Madden   10.00%   09/17   Interest only paid quarterly.    —    96    96    —
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                            
Richard Schmaltz   10.00%   09/17   Interest only paid quarterly.    —    203    203    —
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                            
Robert Baylis   10.00%   09/17   Interest only paid quarterly.    —    193    193    —
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                            
Sherman Bull   10.00%   09/17   Interest only paid quarterly.    —    193    193    —
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                            
Unified Housing Foundation, Inc. (Echo Station)   12.00%   12/32   Excess cash flow    9,719    1,809    1,481    —

100% Interest in UH of Temple, LLC 

                           

SCHEDULE IV

 

(Continued)

 

AMERICAN REALTY INVESTORS, INC.
MORTGAGE LOANS
December 31, 2017

 

Description    Interest Rate   Final Maturity Date   Periodic Payment Terms   Prior Liens   Face Amount of Mortgage    Carrying Amount of Mortgage   Principal or Loans Subject to Delinquent Principal or Interest
                (dollars in thousands)    
Unified Housing Foundation, Inc. (Inwood on the Park/UH of Inwood, LLC)   12.00%   12/32   Excess cash flow    22,227    5,462    3,639    —
100% Interest in UH of Inwood, LLC                            
Unified Housing Foundation, Inc. (Kensington Park/UH of Kensington, LLC)   12.00%   12/32   Excess cash flow    18,723    4,310    3,933    —
100% Interest in UH of Kensington, LLC                            
Unified Housing Foundation, Inc. (Lakeshore Villas/HFS of Humble, LLC) (31.5% of cash flow)   12.00%   12/32   Excess cash flow    15,756    8,836    6,369    —
Interest in Unified Housing Foundation Inc.                            
Unified Housing Foundation, Inc. (Lakeshore Villas/HFS of Humble, LLC)   12.00%   12/32   Excess cash flow    15,965    2,959    2,732    —
100% Interest in HFS of Humble, LLC                            
Unified Housing Foundation, Inc. (Limestone Ranch)   12.00%   12/32   Excess cash flow    18,641    12,335    7,953    —
100% Interest in UH of Vista Ridge, LLC                            
Unified Housing Foundation, Inc. (Reserve at White Rock I)   12.00%   12/32   Excess cash flow    15,640    2,794    2,485    —
100% Interest in UH of Harvest Hill I, LLC                            
Unified Housing Foundation, Inc. (Reserve at White Rock II)   12.00%   12/32   Excess cash flow    14,026    2,843    2,555    —
100% Interest in UH of Harvest Hill, LLC                            
Unified Housing Foundation, Inc. (Timbers of Terrell)   12.00%   12/32   Excess cash flow    7,294    1,702    1,323    —
100% Interest in UH of Terrell, LLC                            
Unified Housing Foundation, Inc. (Tivoli)   12.00%   12/32   Excess cash flow    10,398    12,761    7,966    —
100% Interest in UH of Tivoli, LLC                            
Unified Housing Foundation, Inc. (Trails at White Rock)   12.00%   12/32   Excess cash flow    21,712    4,245    3,815    —
100% Interest in UH of Harvest Hill III, LLC                            
William H. Ingram   10.00%   09/17   Interest only paid quarterly.    —    96    96    —
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                            
William S. Urkiel   10.00%   09/17   Interest only paid quarterly.    —    97    97    —
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                            —
Willingham Revocable Trust   10.00%   09/17   Interest only paid quarterly.    —    96    96    —
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                            
Various related party notes   various   various   Excess cash flow    —    1,349    1,349    —
Various non-related party notes   various   various        —    496    796    —

SCHEDULE IV

 

(Continued)

 

AMERICAN REALTY INVESTORS, INC.
MORTGAGE LOANS
December 31, 2017

 

Description    Interest Rate   Final Maturity Date   Periodic Payment Terms   Prior Liens   Face Amount of Mortgage   Carrying Amount of Mortgage   Principal or Loans Subject to Delinquent Principal or Interest
                (dollars in thousands)    
                               —
Leman Development, Ltd. (1)   0.00%   N/A        —    1,500      1,500    —
One Realco Corporation (1)   3.00%   01/17   Interest and principal due at maturity.    —    10,000      7,000    —
Oulan-Chikh Family Trust   8.00%   03/21        —    174      174    —
Realty Advisors Management, Inc.   2.28%   12/16   Interest only paid quarterly.    —    20,387      20,387    —
Unified Housing Foundation, Inc. (Lakeshore Villas/HFS of Humble, LLC) (68.5% of cash flow)   12.00%   12/32   Excess cash flow    15,965    2,189      2,000    —
Unified Housing Foundation, Inc.   12.00%   12/18   Excess cash flow    —    3,994      3,994    —
Unified Housing Foundation, Inc.   12.00%   12/18   Excess cash flow    —    6,407      6,407    —
Unified Housing Foundation, Inc.   12.00%   06/20   Excess cash flow        5,760      5,760    
Various related party notes   various   various   Excess cash flow    —    1,814      465    —
Various non-related party notes   various   various        —    16,048      15,252    —
                        $   117,913    
             Accrued interest      9,952    
             Allowance for estimated losses      (15,770 )  
                        $   112,095    

 

(1) Fully reserved

SCHEDULE IV

 

AMERICAN REALTY INVESTORS, INC.
MORTGAGE LOANS
As of December 31,

 

    2017     2016     2015  
          (dollars in thousands)  
                   
Balance at January 1,   $ 143,601     $ 137,280     $ 152,645  
Additions                        
New mortgage loans     15,741       11,703       18,055  
Increase (decrease) of interest receivable on mortgage loans     581       13,835       11,130  
Deductions                        
Amounts received     (32,058 )     (19,217 )     (16,486 )
Non-cash reductions     —       —       (28,064 )
                         
Balance at December 31,   $ 127,865     $ 143,601     $ 137,280