Notes Receivable, net

9 Months Ended

Sep. 30, 2013

Receivables [Abstract]

Notes Receivable, net

Notes Receivable, net

Notes receivable, net consists of the following:

	September 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%	$	2,582	$	2,758
Interest bearing homebuilder notes, secured by the real estate sold — 4.0% interest rate, annual principal payments of $0.3 million, balloon payment due February and August 2015, net of deferred profit of $1.0 million at September 30, 2013	4,497		—
Various mortgage notes, secured by certain real estate bearing interest at various rates	819		1,217
Total notes receivable, net	$	7,898	$	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. As of September 30, 2013, the Company has promissory notes receivable, net of $4.5 million from one homebuilder that is secured by the real estate sold.