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Schedule IV - Mortgage Loans on Real Estate
 12 Months Ended
Dec. 31, 2022
Notes to Financial Statements  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Text Block]

 

KIMCO REALTY CORPORATION AND SUBSIDIARIES

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE

As of December 31, 2022

(in thousands)

 

Description

 

Interest Rate

  

Final Maturity

Date

  

Periodic

Payment

Terms (a)

  

Prior

Liens

  

Original Face

Amount

of Mortgages

  

Carrying

Amount of

Mortgages (b)

  

Principal Amount

of Loans Subject

to Delinquent

Principal or

Interest

 

Mortgage Loans:

                            

Retail

                            

Lynwood, CA

  9.00% 

Jun-25

  

I

  $-  $16,463  $16,463  $- 

Jacksonville, FL

  10.00% 

Nov-26

  

I

   -   15,000   15,000   - 

San Antonio, TX

  12.50% 

Sep-27

  

I

   -   21,500   16,359   - 

Fairfax, VA

  8.00% 

May-29

  

I

   -   14,000   14,000   - 

Euless, TX

  10.00% 

Jun-29

  

I

   -   19,600   19,600   - 

Las Vegas, NV

  12.00% 

May-33

  

I

   -   3,075   3,075   - 

Las Vegas, NV

  7.00% 

Oct-53

  

I

   -   3,410   3,410   - 
                             

Nonretail

                            

Commack, NY

  7.41% 

Oct-26

  

P&I

   -   1,354   166   - 

Melbourne, FL

  6.88% 

Dec-30

  

P&I

   -   500   206   - 
                             

Other Financing Loans:

                            

Nonretail

                            

Borrower A

  8.64% 

Apr-23

  

P&I

   -   175   35   - 

Borrower B

  7.00% 

Mar-31

  

P&I

   -   397   345   - 

Allowance for Credit losses:

              -   -   (1,300)  - 
                             
              $-  $95,474  $87,359  $- 

 

(a)  I = Interest only; P&I = Principal & Interest.

(b)  The aggregate cost for Federal income tax purposes was approximately $87.3 million as of December 31, 2022.

 

For a reconciliation of mortgage and other financing receivables from January 1, 2020 to December 31, 2022, see Footnote 12 of the Notes to the Consolidated Financial Statements included in this Form 10-K.

 

The Company feels it is not practicable to estimate the fair value of each receivable as quoted market prices are not available.  

The cost of obtaining an independent valuation on these assets is deemed excessive considering the materiality of the total receivables.