Notes and Other Receivables (Tables)

9 Months Ended

Sep. 30, 2013

Notes and Other Receivables [Abstract]

Notes and Other Receivables

Notes receivable secured by real estate, and other receivables consist of the following as of September 30, 2013 and December 31, 2012 (dollars in thousands):

	September 30, 2013		December 31, 2012
Note receivable, secured, bearing interest at 4.0%, due December 2014 (1)	$	3,212	$	3,212
Notes and other receivables from affiliates (2)		60,820		28,896
Other receivables		3,596		3,785
Note receivable, secured, bearing interest at 8.0%, paid in full in May 2013		-		971
Note receivable, secured, bearing interest at 8.8%, paid in full March 2013		-		10,800
Note receivable, secured, effective interest at 9.6%, paid in full March 2013		-		18,499
	$	67,628	$	66,163

(1) The borrower funds an impound account for capital replacement.

(2) During the second quarter of 2013, the Company provided short-term bridge loans to Fund II and Wesco III aggregating $42.4 million and $56.8 million, respectively, at rates of LIBOR + 1.75% and LIBOR + 2.50%, respectively. In July 2013, Fund II repaid the Company for $42.4 million in short-term loans.