Loans Receivable, At Fair Value (Tables)

6 Months Ended

Jun. 30, 2013

Overall Statistics for Loans Receivable Portfolio Held at Fair Value

The following table details overall statistics for CT Legacy Partners’ loans receivable, which is held at fair value as of June 30, 2013 ($ in millions):


	Loans Receivable, at Fair Value
	Floating Rate			Fixed Rate			Total
Number of loans		8			3			11
Net Book Value	$	94		$	24		$	118
Wtd. Avg. cash coupon ⁽¹⁾		L+3.90	%		8.14	%		4.74	%
Wtd. Avg. all-in yield ⁽¹⁾		L+4.64	%		8.12	%		5.34	%
Wtd. Avg. maximum maturity (years) ⁽²⁾		0.6			1.4			0.8

(1)	Floating rate loans are indexed to LIBOR as of June 30, 2013. LIBOR was 0.19% as of June 30, 2013; however, certain of our loans receivable earn interest based on a minimum LIBOR of 2.0%. Amounts exclude all non-performing loans.

(2)	Maximum maturity date assumes all extension options are exercised.

Types of Loans in Loan Portfolio, as the Property Type and Geographic Distribution of the Properties Securing these Loans

The tables below detail the types of loans in CT Legacy Partners’ loan portfolio, as well as the property type and geographic distribution of the properties securing these loans, as of June 30, 2013 ($ in thousands):


	June 30, 2013
Asset Type	Net Book Value		Percentage
Subordinate interests in mortgages	$	49,695		42	%
Mezzanine loans		41,043		35
Senior mortgages		26,811		23

Total	$	117,549		100	%


Property Type	Net Book Value		Percentage
Hotel	$	51,761		44	%
Office		41,682		35
Other		24,106		21

Total	$	117,549		100	%


Geographic Location	Net Book Value		Percentage
Northeast	$	41,682		35	%
Northwest		24,106		21
West		14,302		12
Southeast		11,869		10
International		25,590		22

Total	$	117,549		100	%

Schedule of Loans Receivable on Nonaccrual Status

The following table details our loans receivable which are on nonaccrual status as of June 30, 2013 ($ in thousands):


Non-Accrual Loans Receivable as of June 30, 2013
Asset Type	Principal Balance		Net Book Value
Senior Mortgage Loans	$	—	$	—
Subordinate Interests in Mortgages		43,448		—
Mezzanine & Other Loans		69,146		11,869

Total	$	112,594	$	11,869