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NOTES AND INTEREST RECEIVABLE FROM RELATED PARTIES (Tables)
 9 Months Ended
Sep. 30, 2021
Receivables [Abstract]  
Below is a summary of notes and interest receivable from related parties

 

On September 30, 2021, we had mortgage loans and accrued interest receivable from related parties totaling $11.5 million. As of September 30, 2021, we recognized interest income of $1 million related to these notes receivable. Below is a summary of notes and interest receivable from related parties (dollars in thousands):

 

   Maturity  Interest      
Borrower  Date  Rate  Amount  Collateral
Performing loans:                    
Unified Housing Foundation, Inc. (Echo Station)   12/32   12.00%  $1,481    Secured 
Unified Housing Foundation, Inc. (Lakeshore Villas)   12/32   12.00%  $2,000    Secured 
Unified Housing Foundation, Inc. (Lakeshore Villas)   12/32   12.00%  $6,369    Secured 
Unified Housing Foundation, Inc. (Timbers of Terrell)   12/32   12.00%  $1,323    Secured 
Total Notes Receivable             11,173      
Accrued interest             337      
Total Performing            $11,510