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NOTES AND INTEREST RECEIVABLE | 9 Months Ended
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Sep. 30, 2019
Receivables [Abstract] |
NOTES AND INTEREST RECEIVABLE | NOTE 5. NOTES AND INTEREST RECEIVABLE A portion of our assets is invested in mortgage notes receivable, principally secured by real estate. We may originate mortgage loans in conjunction with providing purchase money financing of property sales. Notes receivable are generally collateralized by real estate or interests in real estate and guarantees, unless noted otherwise, are so secured. Management intends to service and hold for investment the mortgage notes in our portfolio. A majority of the notes receivable provide for principal to be paid at maturity. Below is a summary of our notes receivable as of September 30, 2019 (dollars in thousands):
|  | Maturity |  | Interest |  |  |  |  |
Borrower |  | Date |  | Rate |  |  | Amount |  | Security
Performing loans: |  |  |  |  |  |  |  |  |  |
H198, LLC (Las Vegas Land) |  | 01/20 |  | 12.00 | % |  |  | 5,907 |  | Secured
H198, LLC (Legacy at Pleasant Grove Land) |  | 10/19 |  | 12.00 | % |  |  | 496 |  | Secured
Oulan-Chikh Family Trust |  | 03/21 |  | 8.00 | % |  |  | 174 |  | Secured
H198, LLC (McKinney Ranch Land) |  | 09/20 |  | 6.00 | % |  |  | 4,554 |  | Secured
RAI PFBL 2018 Purch Fee Note Weatherford |  | 12/21 |  | 12.00 | % |  |  | 525 |  | Secured
Forest Pines |  | 11/20 |  | 5.00 | % |  |  | 2,675 |  | Secured
Spyglass Apartments of Ennis, LP |  | 11/19 |  | 5.00 | % |  |  | 5,287 |  | Secured
Bellwether Ridge |  | 05/20 |  | 5.00 | % |  |  | 3,706 |  | Secured
Parc at Windmill Farms |  | 05/20 |  | 5.00 | % |  |  | 6,513 |  | Secured
Unified Housing Foundation, Inc. (Echo Station) (1) |  | 12/32 |  | 12.00 | % |  |  | 1,481 |  | Secured
Unified Housing Foundation, Inc. (Inwood on the Park) (1) |  | 12/32 |  | 12.00 | % |  |  | 3,639 |  | Secured
Unified Housing Foundation, Inc. (Kensington Park) (1) |  | 12/32 |  | 12.00 | % |  |  | 3,933 |  | Secured
Unified Housing Foundation, Inc. (Lakeshore Villas) (1) |  | 12/32 |  | 12.00 | % |  |  | 2,000 |  | Secured
Unified Housing Foundation, Inc. (Lakeshore Villas) (1) |  | 12/32 |  | 12.00 | % |  |  | 6,369 |  | Secured
Unified Housing Foundation, Inc. (Lakeshore Villas) (1) |  | 12/32 |  | 12.00 | % |  |  | 2,732 |  | Secured
Unified Housing Foundation, Inc. (Limestone Ranch) (1) |  | 12/32 |  | 12.00 | % |  |  | 1,953 |  | Secured
Unified Housing Foundation, Inc. (Limestone Ranch) (1) |  | 12/32 |  | 12.00 | % |  |  | 2,000 |  | Secured
Unified Housing Foundation, Inc. (Limestone Ranch) (1) |  | 12/32 |  | 12.00 | % |  |  | 4,000 |  | Secured
Unified Housing Foundation, Inc. (Reserve at White Rock Phase I) (1) |  | 12/32 |  | 12.00 | % |  |  | 2,485 |  | Secured
Unified Housing Foundation, Inc. (Reserve at White Rock Phase II) (1) |  | 12/32 |  | 12.00 | % |  |  | 2,555 |  | Secured
Unified Housing Foundation, Inc. (Timbers of Terrell) (1) |  | 12/32 |  | 12.00 | % |  |  | 1,323 |  | Secured
Unified Housing Foundation, Inc. (Tivoli) (1) |  | 12/32 |  | 12.00 | % |  |  | 6,140 |  | Secured
Unified Housing Foundation, Inc. (Trails at White Rock) (1) |  | 12/32 |  | 12.00 | % |  |  | 3,815 |  | Secured
Unified Housing Foundation, Inc. (1) |  | 12/21 |  | 12.00 | % |  |  | 10,401 |  | Unsecured
Unified Housing Foundation, Inc. (1) |  | 06/20 |  | 12.00 | % |  |  | 11,074 |  | Unsecured
Unified Housing Foundation, Inc. (1) |  | 03/22 |  | 12.00 | % |  |  | 4,782 |  | Unsecured
Unified Housing Foundation, Inc. (Lakeshore Villas) (1) |  | 07/21 |  | 12.00 | % |  |  | 838 |  | Secured
Unified Housing Foundation, Inc. (Limestone Ranch) (1) |  | 07/21 |  | 12.00 | % |  |  | 773 |  | Secured
Unified Housing Foundation, Inc. (Marquis at Vista Ridge) (1) |  | 07/21 |  | 12.00 | % |  |  | 839 |  | Secured
Unified Housing Foundation, Inc. (Timbers at the Park) (1) |  | 07/21 |  | 12.00 | % |  |  | 432 |  | Secured
Unified Housing Foundation, Inc. (Trails at White Rock) (1) |  | 07/21 |  | 12.00 | % |  |  | 913 |  | Secured
Unified Housing Foundation, Inc. (Bella Vista) (1) |  | 08/21 |  | 12.00 | % |  |  | 212 |  | Secured
Unified Housing Foundation, Inc. (1) |  | 10/21 |  | 12.00 | % |  |  | 6,831 |  | Unsecured
Unified Housing Foundation, Inc. (1) |  | 12/32 |  | 12.00 | % |  |  | 1,349 |  | Unsecured
Realty Advisors Management, Inc. (1) |  | 12/24 |  | 2.28 | % |  |  | 20,387 |  | Unsecured
One Realco Corporation |  | 01/20 |  | 3.00 | % |  |  | 7,000 |  | Unsecured
Other related party notes (1) (2) |  | Various |  | Various |  |  |  | 4,019 |  | Various secured interests
Other non-related party notes |  | Various |  | Various |  |  |  | 17,308 |  | Various secured interests
Accrued interest |  |  |  |  |  |  |  | 11,048 |  |
Total Performing |  |  |  |  |  |  | $ | 172,468 |  |
Allowance for estimated losses |  |  |  |  |  |  |  | (14,269 | ) |
Total |  |  |  |  |  |  | $ | 158,199 |  |
(1) Related party notes. (2) An allowance was taken for estimated losses at full value of note. We invest in mortgage loans, secured by mortgages that are subordinate to one or more prior liens either on the fee or a leasehold interest in real estate. Recourse on such loans ordinarily includes the real estate on which the loan is made, other collateral and guarantees. At September 30, 2019, we had mortgage loans and accrued interest receivable from related parties, net of allowances, totaling $120.3 million. We recognized interest income of $8.1 million related to these notes receivables. The Company has distributed the interest of ‘Class A Limited Partners of Edina Park Plaza Associates’, Limited Partnership, of which a subsidiary of ARI was the general partner as a result of non-payment of certain promissory notes in the amount of $2.7 million upon maturity (Refer to Note 14 ‘Edina Park Class A Plaza Limited Partners’). The Company has various notes receivable from Unified Housing Foundation, Inc. (“UHF”) and Foundation for Better Housing, Inc. (“FBH”). UHF and FBH are determined to be related parties due to our reliance upon the performance of the collateral secured under the notes receivable. Payments are due from surplus cash flow of operations of the properties. A sale or refinance of any of the properties underlying these notes will be used to repay outstanding interest and principal for the remaining notes for the specific borrower. These notes are cross-collateralized for the specific borrower, but to the extent cash is received from a specific UHF or FBH property, it is applied first against any outstanding interest for the related-property note. The allowance on the UHF notes was a purchase allowance that was netted against the notes when acquired.

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- Definition The entire disclosure for financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2196816 + Details
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