| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Asset Type: | Location / Description | | Count | | Fixed Rate | | Maturity Date(1) | | Periodic Payment Terms(2) | | Prior Liens(3) | | Principal Amount | | Carrying Value(4) | | Principal Amount of Loans Subject to Delinquent Principal or Interest | | | Espresso Mezzanine Loan | Various / SNF / ALF | | 1 | | 10.0 | % | | Jan-21 | | I/O | | $ | 560,632 |
| | $ | 74,182 |
| | $ | 55,468 |
| | $ | — |
|
_______________________________________ | | (1) | Reflects the initial maturity date of the investment and does not consider any options to extend beyond such date. |
| | (2) | Interest Only, or I/O; principal amount due in full at maturity. |
| | (3) | Represents only third-party liens. |
| | (4) | The federal income tax basis is approximately $74.2 million. |
Reconciliation of Carrying Value of Real Estate Debt (dollars in thousands): | | | | | | | | | | | | | | | | Year Ended December 31, | | | 2019 | | 2018 | | 2017 | Balance at beginning of year | | $ | 58,600 |
| | $ | 74,650 |
| | $ | 74,558 |
| Additions: | | | | | | | Principal amount of new loans and additional funding on existing loans | | — |
| | — |
| | — |
| Acquisition cost (fees) on new loans | | — |
| | — |
| | — |
| Origination fees received on new loans | | — |
| | — |
| | — |
| Deductions: | | | | | | | Reclassification (1) | | (2,427 | ) | | (16,151 | ) | | — |
| Repayment of principal | | (818 | ) | | — |
| | — |
| Amortization of acquisition costs, fees, premiums and discounts | | 113 |
| | 101 |
| | 92 |
| Balance at end of year | | $ | 55,468 |
| | $ | 58,600 |
| | $ | 74,650 |
|
_______________________________________ (1) 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 as of December 31, 2018. The Company has recorded the excess equity in losses related to its unconsolidated venture as a reduction to the carrying value of its mezzanine loan, which was originated to a subsidiary of the Espresso joint venture.
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