Preferred Equity and Mezzanine Loan Investments

12 Months Ended

Dec. 31, 2017

Variable Interest Entity, Nonconsolidated, Carrying Amount, Assets and Liabilities, Net [Abstract]

Preferred Equity and Mezzanine Loan Investments

Preferred Equity and Mezzanine Loan Investments

Preferred equity and mezzanine loan investments consist of the following as of December 31, 2017 and December 31, 2016 (dollar amounts in thousands):

	December 31, 2017			December 31, 2016
Investment amount	$	140,560		$	101,154
Deferred loan fees, net	(1,640		)	(1,004		)
Total	$	138,920		$	100,150

There were no delinquent preferred equity and mezzanine loan investments as of December 31, 2017 and December 31, 2016.

The geographic concentrations of credit risk exceeding 5% of the total preferred equity and mezzanine loan investment amounts as of December 31, 2017 and December 31, 2016 are as follows:

	December 31, 2017		December 31, 2016
Texas	24.3	%	43.3	%
New York	24.1	%	—
Virginia	10.8	%	14.9	%
Alabama	7.1	%	—
South Carolina	7.0	%	9.4	%
Kentucky	5.2	%	7.2	%