Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] |
The following is a summary of our loans receivable as of March 31, 2013 and December 31, 2012: | | | | | | | | | | | | | | | | Loan carrying-value(1) | | | | Loan | | 3/31/2013 | | 12/31/2012 | | Interest Rate | | Maturity Date | Norwalk, CT(2) | | $ | 14,249 |
| | $ | 3,479 |
| | 7.50 | % | | 11/2014 | Homestead, FL | | 7,974 |
| | 8,036 |
| | 7.50 | % | | 08/2014 | Schaumburg, IL(3) | | 21,579 |
| | 21,885 |
| | 20.00 | % | | 01/2012 | Westmont, IL | | 26,810 |
| | 26,902 |
| | 6.45 | % | | 10/2015 | Southfield, MI | | 7,181 |
| | 7,364 |
| | 4.55 | % | | 02/2015 | Austin, TX | | 2,120 |
| | 2,038 |
| | 16.00 | % | | 10/2018 | Other | | 2,747 |
| | 2,836 |
| | 8.00 | % | | 2021-2022 | | | $ | 82,660 |
| | $ | 72,540 |
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| | (1) | Loan carrying value includes accrued interest and is net of origination costs and fee eliminations, if any. |
| | (2) | The Company is committed to lend up to $32,600. |
| | (3) | Loan is in default. The Company did not record interest income of $933 and $2,647 during the three months ended March 31, 2013 and the year ended December 31, 2012, respectively. The Company believes the office property collateral has an estimated fair value in excess of the Company's investment and the Company has initiated foreclosure proceedings. |
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