Preferred Equity and Mezzanine Loan Investments

6 Months Ended

Jun. 30, 2018

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 June 30, 2018 and December 31, 2017 (dollar amounts in thousands):

	June 30, 2018			December 31, 2017
Investment amount	$	178,372		$	140,560
Deferred loan fees, net	(1,631		)	(1,640		)
Total	$	176,741		$	138,920

There were no delinquent preferred equity and mezzanine loan investments as of June 30, 2018 and December 31, 2017. As of June 30, 2018, the Company is committed to fund $2.8 million of preferred equity on an existing investment.

The geographic concentrations of credit risk exceeding 5% of the total preferred equity and mezzanine loan investment amounts as of June 30, 2018 and December 31, 2017 are as follows:

	June 30, 2018		December 31, 2017
New York	23.9	%	24.1	%
Texas	15.7	%	24.3	%
Florida	13.5	%	3.9	%
Virginia	8.5	%	10.8	%
Tennessee	6.2	%	—
Alabama	5.7	%	7.1	%
South Carolina	5.6	%	7.0	%