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