Notes and Other Receivables (Tables)

6 Months Ended

Jun. 30, 2014

Notes and Other Receivables [Abstract]

Notes receivable secured by real estate and other receivables consist of the following as of June 30, 2014 and December 31, 2013 (dollars in thousands):

	June 30, 2014		December 31, 2013

Notes receivable, secured, bearing interest at 4.0%, due December 2014⁽¹⁾	$	3,212	$	3,212
Notes and other receivables from affiliates⁽²⁾		28,133		60,968
Other receivables⁽³⁾		35,177		4,075
	$	66,522	$	68,255

(1)

The borrower funds an impound account for capital replacement.

(2)

As of June 30, 2014, the Company had a receivable of $19.8 million from CPPIB that was paid in July 2014. As of December 31, 2013, the Company provided two bridge loans, for Gas Company Lofts and Regency at Mt. View, totaling $56.8 million to Wesco III at a rate of LIBOR + 2.50%. Wesco III repaid these two loans on Gas Company Lofts and Regency at Mt. View in January 2014 and April 2014, respectively.

(3)

Amount includes $20.0 million for the sale of the Company’s common stock which was settled in July 2014.