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Loans Held for Investment (Tables)
 9 Months Ended
Sep. 30, 2015
Receivables [Abstract]  
Composition of Loans Held for Investment
The following table presents the composition of the loans held for investment as of September 30, 2015 (dollar amounts in thousands):
 
 
Loans held for investment
 
Outstanding Balance
 
Carrying Value
 
Weighted-Average Interest Rate
 
Weighted-Average Years to Maturity
 
Mortgage notes receivable
 
10

 
$
26,544

 
$
24,702

 
6.3
%
(1) 
13.8
(2) 
Unsecured note (3)
 
1

 
15,300

 
15,300

 
8.0
%
 
1.5
 
Total
 
11

 
$
41,844

 
$
40,002

 
6.9
%
 
9.3
 
____________________________________
(1)
The interest rates on the mortgage notes receivable range from 5.57% to 7.24%, as of September 30, 2015.
(2)
The mortgage notes receivable have maturity dates ranging from March 2016 to January 2033.
(3)
The Company’s unsecured note is with an affiliate of the Former Manager, as defined within Note 15 – Equity. The unsecured note requires principal payments of $7.7 million on March 31, 2016 and $3.8 million on September 30, 2016 and the remaining balance is due at maturity, on March 31, 2017. The note may be pre-paid at par any time prior to maturity.
Schedule of Aggregate Principal Payments Due to the Company
The following table summarizes the scheduled aggregate principal payments due to the Company on the loans held for investment subsequent to September 30, 2015 (in thousands):
 
 
Outstanding Balance
Due within one year
 
$
9,298

Due after one year through five years
 
12,924

Due after five years through 10 years
 
6,516

Due after 10 years(1)
 
17,056

Total
 
$
45,794

____________________________________

(1) Includes additional $4.0 million of interest that will be capitalized into the outstanding balance of the note subsequent to September 30, 2015.