Mortgage and Other Notes Receivable

6 Months Ended

Jun. 30, 2016

Mortgage and Other Notes Receivable [Abstract]

Mortgage and Other Notes Receivable

Mortgage and Other Notes Receivable

Each of the Company’s mortgage notes receivable is collateralized by either a first mortgage, a second mortgage, or by an assignment of 100% of the partnership interests that own the real estate assets.  Other notes receivable include amounts due from tenants or government-sponsored districts and unsecured notes received from third parties as whole or partial consideration for property or investments.  The Company believes that its mortgage and other notes receivable balance is fully collectable as of June 30, 2016. Mortgage and other notes receivable consist of the following:

		As of June 30, 2016			As of December 31, 2015
	Maturity Date	Interest Rate	Balance		Interest Rate	Balance
Mortgages:
Columbia Place Outparcel	Feb 2022	5.00%	$	330	5.00%	$	342
Park Place	May 2022	5.00%	1,290		5.00%	1,369
Village Square (1)	Mar 2018	3.75%	1,667		3.50%	1,685
Other	Dec 2016 - Jan 2047	2.93% - 9.50%	4,368		2.93% - 9.50%	4,380
			7,655			7,776
Other Notes Receivable:
Horizon Group (2)	Nov 2016	—%	—		7.00%	3,096
RED Development Inc.	Nov 2023	5.00%	6,982		5.00%	7,366
Southwest Theaters	Apr 2026	5.00%	766		—%	—
Other	Jan 2017	7.00%	300		—%	—
			8,048			10,462
			$	15,703		$	18,238

(1) In May 2016, the mortgage note receivable related to Village Square was extended to March 2018. The interest rate increased from 3.5% to 3.75%for the period from April 2016 through March 2017, with an increase to a rate of 4.0% from April 2017 through the maturity date.

(2) In May 2016, in conjunction with the formation of the Laredo joint venture (see Note 5), the Company contributed its interest in the note of $5,280 as a capital contribution to the joint venture.