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Schedule IV - Mortgage Loans on Real Estate
 12 Months Ended
Dec. 31, 2020
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]  
Schedule IV - Mortgage Loans on Real Estate
FEDERAL REALTY INVESTMENT TRUST
SCHEDULE IV
MORTGAGE LOANS ON REAL ESTATE
Year Ended December 31, 2020

(Dollars in thousands)
Column AColumn BColumn CColumn DColumn EColumn FColumn GColumn H
Description of LienInterest RateMaturity DatePeriodic Payment
Terms		Prior
Liens		Face Amount
of Mortgages		Carrying
Amount
of Mortgages(1)		Principal
Amount
of Loans
Subject to
delinquent
Principal
or Interest
Mortgage on
retail buildings in Philadelphia, PA		8% or 10%
based on
timing of
draws, plus
participation		May 2021Interest only
monthly; balloon payment due at maturity		$—   $21,872   $21,082 (2)$21,082 (3)
Mortgage on retail buildings in Philadelphia, PA10% plus participationMay 2021Interest only monthly;
balloon payment due
at maturity		—   9,250   9,250   9,250 (3)
Second mortgage on a retail shopping center in Rockville, MD11.5%February 2026Interest only monthly;
balloon payment due
at maturity		58,750 (4)5,075 5,075 — 
Second mortgage on a retail shopping center in Rockville, MD10.75%February 2026Interest only monthly;
balloon payment due
at maturity		58,750 (4)4,500 4,485 — 
$58,750   $40,697 $39,892 $30,332 
_____________________
(1)For Federal tax purposes, the aggregate tax basis is approximately $40.7 million as of December 31, 2020. Upon the adoption of ASU 2016-13, we recorded expected losses related to these loans, and are required to do so going forward. See note 2 to the consolidated financial statements.
(2)This mortgage is available for up to $25.0 million.
(3)The borrower was notified in October 2020 that these mortgages were in default. No interest payments were made from April through July, and partial payments from August through December 31, 2020.
(4)These mortgages are both subordinate to a first mortgage of $58.8 million in total. We do not hold the first mortgage loan on this property. Accordingly, the amount of the prior lien at December 31, 2020 is estimated.
FEDERAL REALTY INVESTMENT TRUST
SCHEDULE IV
MORTGAGE LOANS ON REAL ESTATE - CONTINUED
Three Years Ended December 31, 2020
Reconciliation of Carrying Amount
(in thousands)
Balance, December 31, 2017, 2018, and 2019$30,429 
January 1, 2020 adoption of new accounting standard - See Note 2(790)
Additions during period:
Acquisition of loans, net of valuation adjustments9,560 
Issuance of loans693 
Balance, December 31, 2020$39,892