Notes Receivable, net

3 Months Ended

Mar. 31, 2014

Receivables [Abstract]

Notes Receivable, net

Notes Receivable, net

Notes receivable, net consists of the following:

	March 31, 2014		December 31, 2013
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%	$	2,623	$	2,623
Interest bearing homebuilder notes, secured by the real estate sold — 4.0% interest rate, annual principal payments of $0.3 million, any remaining payments outstanding are due February and August 2015, net of deferred profit of $0.3 million and $0.7 million at March 31, 2014 and December 31, 2013, respectively	3,676		4,062
Various mortgage notes, secured by certain real estate bearing interest at various rates	639		647
Total notes receivable, net	$	6,938	$	7,332

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 March 31, 2014 and December 31, 2013, the Company has mortgage notes receivables for $3.7 million and $4.1 million, respectively, net of deferred profit, from one homebuilder that is secured by the real estate sold.