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Loans Receivable (Tables)
 3 Months Ended
Mar. 31, 2014
Loans Receivable [Abstract]  
Summary of Loans Receivable
The following is a summary of our loans receivable as of March 31, 2014 and December 31, 2013:
 
Loan carrying-value(1)
 
 
 
Loan
 
3/31/2014
 
12/31/2013
 
Interest Rate
 
Maturity Date
Norwalk, CT(2)
 
$
31,332

 
$
28,186

 
7.50
%
 
11/2014
Homestead, FL(3)
 
10,325

 
10,239

 
7.50
%
 
08/2014
Westmont, IL(4)
 
12,512

 
12,610

 
6.45
%
 
10/2015
Southfield, MI
 
6,412

 
6,610

 
4.55
%
 
02/2015
Austin, TX
 
2,486

 
2,389

 
16.00
%
 
10/2018
Kennewick, WA(5)
 
55,412

 
37,030

 
9.00
%
 
05/2022
Other
 
2,319

 
2,379

 
8.00
%
 
2021-2022
 
 
$
120,798

 
$
99,443

 
 
 
 
(1)
Loan carrying value includes accrued interest and is net of origination costs and loan losses, if any.
(2)
The Company is committed to lend up to $32,600.
(3)
The Company is committed to lend up to $10,660.
(4)
Borrower is delinquent on debt service payments. Tenant at office property collateral terminated its lease. The Company recognized an impairment of $13,939 during the fourth quarter of 2013. During the three months ended March 31, 2014, the Company recognized $425 of interest income relating to the impaired loan and the loan had an average recorded investment value of $12,561. At March 31, 2014, the impaired loan receivable had a contractual unpaid balance of $26,451.
(5)
The Company is committed to lend up to $85,000. During construction advances accrue interest at 6.5% per annum. Estimated construction completion is 2Q 2014.