Annual report pursuant to Section 13 and 15(d)

Schedule IV - Mortgage Loans on Real Estate (Notes)

v3.8.0.1
Schedule IV - Mortgage Loans on Real Estate (Notes)
 12 Months Ended
Dec. 31, 2017
Mortgage Loans on Real Estate [Abstract]  
Schedule IV - Mortgage Loans on Real Estate
SCHEDULE IV – MORTGAGE LOANS ON REAL ESTATE
DECEMBER 31, 2017
(Dollars in Thousands)
 
Location and Type of
Real Estate
 
Type of 
Loan
 
Interest 
Rate
 
Final
Maturity
Date
 
Periodic Payment Term
 
Prior 
Lien
 
Face
Amount
of
Mortgage
 
Carrying
Amount of
Mortgage
 
Principal
Amount
of Loans
Subject to
Delinquent
Principal
or Interest
Phoenix, Arizona;
Build-to-Suit Healthcare
Facility
 
Second
Mortgage
 
9% Current Interest, 22% internal rate of return on exit
 
7/31/2016
 
9.0% interest, paid in cash on the loan during construction and through maturity. Exit fee upon maturity of the loan in an amount sufficient to earn a 22% internal rate of return.
 
—

 
$
5,600

 
$
—

 
$
—

Phoenix, Arizona;
Build-to-Suit Healthcare
Facility
 
Interim
Financing
Loan
 
22% Current Interest
 
4/30/2016
 
22.0% interest per annum through maturity, with all accrued interest and principal payable upon maturity.
 
—

 
300

 
—

 
—

 
 
 
 
 
 
 
 
 
 
 
 
$
5,900

 
$
—

 
$
—


The following table reconciles the change in the balance of mortgage loans on real estate during the years ended December 31, 2017, 2016 and 2015, respectively:
 
 
 
2017
 
2016
 
2015
Balance at beginning of period
 
$
—

 
$
5,900

 
$
5,600

New mortgage loans
 
—

 
—

 
300

Collections of principal
 
—

 
(5,900
)
 
—

Balance at end of period
 
$
—

 
$
—

 
$
5,900