Commercial Loan Investments (Tables)

12 Months Ended

Dec. 31, 2015

Receivables [Abstract]

Summary of Commercial Loan Investment Portfolio

The Company’s commercial loan investment portfolio was comprised of the following at December 31, 2015:

Description	Date of Investment	Maturity Date	Original Face Amount		Current Face Amount		Carrying Value		Coupon Rate
Mezz – Hotel – Atlanta, GA	January 2014	February 2019	$	5,000,000	$	5,000,000	$	5,000,000		12.00%
B-Note – Retail Shopping Center,    Sarasota, FL	May 2014	June 2016		8,960,467		8,960,467		8,960,467	30-day LIBOR plus 7.50%
Mezz – Hotel, Dallas, TX	September 2014	September 2016		10,000,000		10,000,000		10,000,000	30-day LIBOR plus 7.25%
First Mortgage – Hotel, San Juan,    Puerto Rico	September 2015	September 2018		14,500,000		14,500,000		14,371,489	30-day LIBOR plus 9.00%
Total			$	38,460,467	$	38,460,467	$	38,331,956

The Company’s commercial loan investment portfolio was comprised of the following at December 31, 2014:

Description	Date of Investment	Maturity Date	Original Face Amount		Current Face Amount		Carrying Value		Coupon Rate
Mezz – Hotel, Atlanta, GA	January 2014	February 2019	$	5,000,000	$	5,000,000	$	5,000,000		12.00%
Construction – Container Store,    Glendale, AZ	May 2014	November 2015		6,300,000		5,306,031		5,247,607		6.00%
B-Note – Retail Shopping Center,    Sarasota, FL	May 2014	June 2015		8,960,467		8,960,467		8,960,467	30-day LIBOR plus 7.25%
Mezz – Hotel, Dallas, TX	September 2014	September 2016		10,000,000		10,000,000		10,000,000	30-day LIBOR plus 7.25%
Development – Real Estate, Ormond    Beach, FL	November 2014	November 2015		1,000,000		1,000,000		1,000,000	30-day LIBOR plus 7.25%
Total			$	31,260,467	$	30,266,498	$	30,208,074

Carrying Value of the Commercial Loan Investments Portfolio

The carrying value of the commercial loan investment as of December 31, 2015 consisted of the following: 

	Total
Current Face Amount	$	38,460,467
Unamortized Fees		36,382
Unaccreted Origination Fees		(164,893	)
Total Commercial Loan Investments	$	38,331,956

The carrying value of the commercial loan investment as of December 31, 2014 consisted of the following:

	Total
Current Face Amount	$	30,266,498
Unaccreted Origination Fees		(58,424	)
Total Commercial Loan Investments	$	30,208,074