Preferred Equity and Mezzanine Loan Investments

6 Months Ended

Jun. 30, 2019

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, 2019 and December 31, 2018 (dollar amounts in thousands):

	June 30, 2019			December 31, 2018
Investment amount	$	192,814		$	166,789
Deferred loan fees, net	(1,427		)	(1,234		)
Total	$	191,387		$	165,555

There were no delinquent preferred equity or mezzanine loan investments as of June 30, 2019 and December 31, 2018.

The geographic concentrations of credit risk exceeding 5% of the total preferred equity and mezzanine loan investment amounts as of June 30, 2019 and December 31, 2018 are as follows:

	June 30, 2019		December 31, 2018
Texas	17.0	%	16.6	%
Tennessee	11.3	%	6.8	%
Georgia	10.8	%	15.3	%
Alabama	10.3	%	8.6	%
Florida	10.0	%	11.3	%
South Carolina	8.4	%	9.5	%
Virginia	7.9	%	9.1	%