Note 10 - Mortgages and Other Financing Receivables

12 Months Ended

Dec. 31, 2014

Receivables [Abstract]

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

10.  Mortgages and Other Financing Receivables:

The Company has various mortgages and other financing receivables which consist of loans acquired and loans originated by the Company. For a complete listing of the Company’s mortgages and other financing receivables at December 31, 2014, see Financial Statement Schedule IV included in this annual report on Form 10-K.

The following table reconciles mortgage loans and other financing receivables from January 1, 2012 to December 31, 2014 (in thousands):

	2014			2013			2012
Balance at January 1	$	30,243		$	70,704		$	102,972
Additions:
New mortgage loans		52,728			8,527			29,496
Additions under existing mortgage loans		-			7,810			895
Write-off of loan discounts		286			-			-
Foreign currency translation		-			-			1,181
Amortization of loan discounts		126			653			247
Deductions:
Loan repayments		(7,330	)		(28,068	)		(60,740	)
Loan foreclosures		-			(25,572	)		-
Charge off/foreign currency translation		(1,066	)		(1,260	)		(430	)
Collections of principal		(972	)		(2,529	)		(2,861	)
Amortization of loan costs		(2	)		(22	)		(56	)
Balance at December 31	$	74,013		$	30,243		$	70,704

The Company reviews payment status to identify performing versus non-performing loans. As of December 31, 2014, the Company had a total of 16 loans aggregating $74.0 million all of which were identified as performing loans.

During 2013, the Company foreclosed on two non-performing loans, in separate transactions, for an aggregate $25.6 million. As such, the Company acquired 59.24 acres of undeveloped land located in Westbrook, Maine (which was sold in 2014 at price which approximated its carrying value) and 427 acres of undeveloped land located in Brantford, Ontario, which was the collateral under each of the respective loans. The carrying values of the mortgage receivables did not exceed the fair values of the underlying collateral upon foreclosure.