Note 8 - Mortgages and Other Financing Receivables

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

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

8.

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. The Company reviews payment status to identify performing versus non-performing loans. As of

June 30, 2018,

the Company had a total of

11

loans aggregating

$31.1

million, of which all were identified as performing loans.

During the

six

months ended

June 30, 2018,

the Company sold an operating property for a sales price of

$20.8

million. In conjunction with this sale, the Company issued mortgage financing of

$14.7

million which is scheduled to mature on

December 20, 2018

and bears interest at a rate equal to the greater of (i)

5.00%

or (ii) LIBOR plus

300

basis points (

5.09%

as of

June 30, 2018).

This loan is collateralized by the property.

Additionally, during the

six

months ended

June 30, 2018,

the Company received full payment relating to

one

mortgage receivable which had an aggregate outstanding balance of

$5.7

million Canadian dollars (USD

$4.5

million). This loan bore interest at a rate of

7.00%

and matured in

May 2018.