MORTGAGE AND OTHER NOTES RECEIVABLE

12 Months Ended

Dec. 31, 2020

Accounts Notes Loans And Financing Receivable Gross Allowance And Net [Abstract]

MORTGAGE AND OTHER NOTES RECEIVABLE

NOTE 12. MORTGAGE AND OTHER NOTES RECEIVABLE

The Company's mortgage note receivable is collateralized by an assignment of 100% of the partnership interests that own the real estate assets. Other notes receivable include amounts due from tenants and unsecured notes received from third parties as whole or partial consideration for property or investments. 

Mortgage and other notes receivable consist of the following:

			As of December 31, 2020			As of December 31, 2019
	Maturity Date		Interest Rate	Balance		Interest Rate	Balance
Mortgage	Dec 2016	(1)	2.64%	$	1,100	4.28% - 9.50%	$	2,637
Other Notes Receivable	Sep 2021- Apr 2026		4.00% - 5.00%		1,237	4.00% - 5.00%		2,025
				$	2,337		$	4,662

(1) Represents a $1,100 note with D'Iberville Promenade, LLC with a maturity date of December 2016, that is in default. This is secured by the joint venture partner’s interest in the joint venture.

Expected credit losses

As of December 31, 2020, the one mortgage note receivable is in default, but as noted above, the Company has a noncontrolling interest recorded related to the defaulting partner’s interest that serves as collateral on the note, and that amount is greater than the outstanding balance on the note. Based on this information, the Company did not record a credit loss for this class of receivables for the year ended December 31, 2020.

During the year ended December 31, 2020, the Company assessed each of its note receivables factoring in credit quality indicators such as collection experience and future expectations of performance to determine whether a credit loss should be recorded. Based on this information, the Company wrote off a $1,230 note receivable associated with amounts due from a government sponsored district at The Shoppes at St. Clair during the year ended December 31, 2020. The Company did not record any other credit losses for this class of receivables for the year ended December 31, 2020.