Notes Receivable, net

6 Months Ended

Jun. 30, 2013

Receivables [Abstract]

Notes Receivable, net

Notes Receivable, net

Notes receivable, net consists of the following:

	June 30, 2013		December 31, 2012
Pier Park Community Development District notes, non-interest bearing, due December 2024, net of unamortized discount of $0.1 million, effective rates 5.73% — 8.0%	$	2,759	$	2,758
Interest bearing builder note — 4.0% at June 30, 2013, due February 2015, net of deferred profit of $1.2 million	1,184		—
Various mortgage notes, secured by certain real estate bearing interest at various rates	828		1,217
Total notes receivable, net	$	4,771	$	3,975

The Company evaluates the carrying value of the notes receivable and the need for an allowance for doubtful notes receivable at each reporting date. Notes receivable balances are adjusted to net realizable value based upon a review of entity specific facts or when terms are modified.