Loans Receivable

3 Months Ended

Mar. 31, 2017

Receivables [Abstract]

Loans Receivable

Loans Receivable

As of March 31, 2017, the Company's loans receivable were fully satisfied. As of December 31, 2016, the Company's loans receivable were comprised primarily of mortgage loans on real estate.

The following is a summary of the Company's loans receivable as of December 31, 2016:

	Loan carrying-value(1)
Loan		12/31/2016		Interest Rate		Maturity Date
Kennewick, WA(2)		$	85,709	9.00	%	05/2022
Oklahoma City, OK(3)		8,501		11.50	%	03/2016
		$	94,210

(1) Loan carrying value includes accrued interest and is net of origination costs, if any.

(2) Loan provided for a current pay rate of 8.75%, an accrual rate of 9.0% and a balloon of $87,245 at maturity. During the three months ended March 31, 2017, the loan was assigned to a third party for 94% of its principal balance. The Company recognized a $5,294 loan loss on the transaction.

(3) In June 2015, the Company loaned a tenant-in-common $8,420. The loan was secured by the tenant-in-common's interest in an office property, in which the Company had a 40% tenant-in-common interest. The loan was satisfied in full as of March 31, 2017. The Company incurred professional fees of $376 to collect this loan. Such fees are included in general and administrative expenses on the Company's unaudited condensed consolidated statements of operations for the three months ended March 31, 2017.