Preferred Equity and Mezzanine Loan Investments

12 Months Ended

Dec. 31, 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 December 31, 2018 and December 31, 2017 (dollar amounts in thousands):

	December 31, 2018			December 31, 2017
Investment amount	$	166,789		$	140,560
Deferred loan fees, net	(1,234		)	(1,640		)
Total	$	165,555		$	138,920

There were no delinquent preferred equity and mezzanine loan investments as of December 31, 2018 and December 31, 2017.

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

	December 31, 2018		December 31, 2017
Texas	16.6	%	24.3	%
Georgia	15.3	%	3.4	%
Florida	11.3	%	3.9	%
South Carolina	9.5	%	7.0	%
Virginia	9.1	%	10.8	%
Alabama	8.6	%	7.1	%
Tennessee	6.8	%	—
Missouri	5.1	%	—