The Company’s commercial mortgage loan portfolio was comprised of the following at December 31, 2012:


Description	Date of Investment		Maturity Date		Original Face Amount		Current Face Amount		Carrying Value		Coupon			Amortization Schedule	Property Size
Hotel - NY, NY		Jan-10		Feb-15	$	32,000	$	31,571	$	31,571		8.25	%	30 year	151 rooms
Office Condo (Headquarters) - NY, NY		Feb-10		Feb-15		28,000		27,419		27,419		8.00		30 year	73,419 sq. ft.
Hotel - Silver Spring, MD		Mar-10		Apr-15		26,000		25,273		25,273		9.00		25 year	263 rooms
Mixed Use - South Boston, MA (1)		Apr-12		Dec-13		23,844		17,287		14,105		1.98		Interest only	20 acres
Condo Conversion - NY, NY (2)		Dec-12		Jan-15		45,000		45,000		44,553		9.00		Interest only	119,000 sq. ft.

Total/Weighted Average					$	154,844	$	146,550	$	142,921		7.82	%

(1)

This loan is a senior sub-participation interest in a $120,000 first mortgage that bears interest at a rate of LIBOR plus 172 basis points and includes a one-year extension option subject to repayment of $33,000 of the entire first mortgage (of which the Company will receive its pro rata portion) and the payment of a 0.50% fee of the outstanding balance of the entire first mortgage.

(2)	Includes a 1.00% origination fee, a LIBOR floor of 0.50%, two one-year extension options subject to certain conditions and the payment of a 0.50% fee for each extension.


Description	Date of Investment		Maturity Date		Original Face Amount		Current Face Amount		Coupon			Amortization Schedule	Property Size
Hotel – NY, NY		Jan-10		Feb-15	$	32,000	$	31,798		8.25	%	30 year	151 rooms
Office Condo (Headquarters) – NY, NY		Feb-10		Feb-15		28,000		27,644		8.00		30 year	73,419 sq. ft.
Hotel – Silver Spring, MD		Mar-10		Apr-15		26,000		25,564		9.00		25 year	263 rooms
Hotel – NY, NY		Aug-10		Aug-12		24,000		24,000		8.00		Interest only	155 rooms

Total					$	110,000	$	109,006		8.31	%