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Schedule IV - Mortgage Loans on Real Estate
 12 Months Ended
Dec. 31, 2019
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]  
Mortgage Loans on Real Estate
Schedule IV – Mortgage Loans on Real Estate
As of December 31, 2019

Type of Loan/Borrower
Senior Mortgage Loans (1)
Description/Location
Interest (2)
Payment Rates
Extended Maturity Date (2)
Periodic Payment Terms (3)
Prior Liens (4)
Unpaid Principal BalanceCarrying Amount of Loans
Senior Loan in excess of 3% of the carrying amount of total loan
Borrower AMulti-family / IL
L+4.30%
2023I/O$—  $35,625,000  $35,625,000  
Borrower BMulti-family / Diversified
L+4.05%
2023I/O—  34,913,160  34,913,160  
Borrower CMulti-family / TX
L+3.65%
2023I/O—  32,321,681  32,321,681  
Borrower DMulti-family / MD
L+3.25%
2023I/O—  32,148,978  32,148,978  
Borrower EMulti-family / AZ
L+3.75%
2022I/O—  30,505,000  30,505,000  
Borrower FMulti-family / VA
L+2.75%
2024I/O—  26,500,000  26,500,000  
Borrower GMulti-family / IL
L+3.75%
2023I/O—  25,355,116  25,355,116  
Borrower HMulti-family / TX
L+3.15%
2025I/O—  23,500,000  23,500,000  
Borrower IMulti-family / NE
L+3.70%
2023I/O—  20,853,067  20,853,067  
Borrower KMulti-family / GA
L+2.75%
2024I/O—  20,000,000  20,000,000  
Senior Loan less than 3% of the carrying amount of total loan
Senior LoanMulti-family / Diversified
L+2.80% - 5.95%
2020 - 2025I/O$—  $314,964,735  $314,964,735  
Senior LoanRetail / TX
L+4.10%
2023I/O—  17,115,524  17,115,524  
Senior LoanOffice / IL
L+3.75%
2023I/O—  12,828,794  12,828,794  
Senior LoanMixed-Use / DC
L+4.65%
2023I/O—  4,404,365  4,404,365  
Senior LoanSelf-Storage / VA
L+3.15%
2024I/O—  4,225,000  4,225,000  
Total senior loans$—  $635,260,420  $635,260,420  
(1)Includes senior mortgage loans and pari passu participations in senior mortgage loans.
(2)L = one-month LIBOR rate
(3)Extended maturity date assumes all extension options are exercised
(4)I/O = interest only
(5)Represents only third party liens
 
1.Reconciliation of Mortgage Loans on Real Estate

The following table reconciles activity regarding mortgage loans on real estate for the years ended:

20192018
Balance at January 1,$555,172,891  $—  
Additions during period:
Mortgage loans purchased300,319,433  756,565,299  
Deductions during period
Mortgage loan repayments(213,415,654) (201,392,408) 
Mortgage loans sold(6,816,250) —  
Balance at December 31, $635,260,420  $555,172,891