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Loans Receivable (Notes)
 9 Months Ended
Sep. 30, 2014
Receivables [Abstract]  
Loans Receivable
Loans Receivable

As of September 30, 2014 and December 31, 2013, the Company's loans receivable, including accrued interest and net of origination fees and loan loss reserves, were comprised primarily of first and second mortgage loans and mezzanine loans on real estate.
The following is a summary of our loans receivable as of September 30, 2014 and December 31, 2013:
 
Loan carrying-value(1)
 
 
 
Loan
 
9/30/2014
 
12/31/2013
 
Interest Rate
 
Maturity Date
Norwalk, CT(2)
 
$
32,472

 
$
28,186

 
7.50
%
 
11/2014
Homestead, FL(3)
 
—

 
10,239

 
7.50
%
 
08/2014
Westmont, IL(4)
 
12,326

 
12,610

 
6.45
%
 
10/2015
Southfield, MI
 
6,005

 
6,610

 
4.55
%
 
02/2015
Austin, TX
 
2,691

 
2,389

 
16.00
%
 
10/2018
Kennewick, WA(5)
 
77,387

 
37,030

 
9.00
%
 
05/2022
Other
 
2,196

 
2,379

 
8.00
%
 
2021-2022
 
 
$
133,077

 
$
99,443

 
 
 
 
(1)
Loan carrying value includes accrued interest and is net of origination costs and loan losses, if any.
(2)
Subsequent to September 30, 2014, the Company extended the maturity date of the loan to December 1, 2014 and increased the interest rate to 12.5%.
(3)
The loan was satisfied in August 2014.
(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 nine months ended September 30, 2014, the Company recognized $1,284 of interest income relating to the impaired loan and the loan had an average recorded investment value of $12,468. At September 30, 2014, the impaired loan receivable had a contractual unpaid balance of $26,265. Subsequent to September 30, 2014, the Company commenced a foreclosure proceeding.
(5)
The Company is committed to lend up to $85,000.

The Company has two types of financing receivables: loans receivable and a capitalized financing lease. The Company determined that its financing receivables operate within one portfolio segment as they are within the same industry and use the same impairment methodology. The Company's loans receivable are secured by commercial real estate assets and the capitalized financing lease is for a commercial office property located in Greenville, South Carolina. In addition, the Company assesses all financing receivables for impairment, when warranted, based on an individual analysis of each receivable.

The Company's financing receivables operate within one class of financing receivables as these assets (1) are collateralized by commercial real estate and (2) similar metrics are used to monitor the risk and performance of these assets. The Company's management uses credit quality indicators to monitor financing receivables such as quality of collateral, the underlying tenant's credit rating and collection experience. As of September 30, 2014, the financing receivables were performing as anticipated and there were no significant delinquent amounts outstanding, other than the Westmont, Illinois loan as disclosed above.