The following table presents the Company’s one debt investment as of September 30, 2019 and December 31, 2018 (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | Carrying Value(2) | | | Asset Type: |
| Principal Amount | | September 30, 2019 (Unaudited) | | December 31, 2018 | | Fixed Rate |
| Unlevered Current Yield | Mezzanine loan(1) |
| $ | 75,000 |
| | $ | 55,649 |
| | $ | 58,600 |
| | 10.0 | % | | 10.3 | % |
_______________________________________ | | (1) | Loan has a final maturity date of January 30, 2021. |
| | (2) | As a result of impairments and other non-cash reserves recorded by the joint venture, the Company’s carrying value of its Espresso unconsolidated investment was reduced to zero in the fourth quarter of 2018. The Company has recorded the excess equity in losses related to its unconsolidated investment as a reduction to the carrying value of its mezzanine loan, which was originated to a subsidiary of the Espresso joint venture. As of September 30, 2019 and December 31, 2018, the cumulative excess equity in losses included in the mezzanine loan carrying value were $19.2 million and $16.2 million, respectively. |
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