XML 32 R18.htm IDEA: XBRL DOCUMENT v3.10.0.1
Loan Participations Payable, net
 12 Months Ended
Dec. 31, 2018
Transfers and Servicing [Abstract]  
Loan Participations Payable, net
Loan Participations Payable, net

The Company's loan participations payable, net were as follows ($ in thousands):
 
 
Carrying Value as of
 
 
December 31, 2018
 
December 31, 2017
Loan participations payable(1)
 
$
22,642

 
$
102,737

Debt discounts and deferred financing costs, net
 
(158
)
 
(312
)
Total loan participations payable, net
 
$
22,484

 
$
102,425

_______________________________________________________________________________
(1)
As of December 31, 2018, the Company had one loan participation payable with an interest rate of 7.0%. As of December 31, 2017, the Company had two loan participations payable with a weighted average interest rate of 6.5%.
 
Loan participations represent transfers of financial assets that did not meet the sales criteria established under ASC Topic 860 and are accounted for as loan participations payable, net as of December 31, 2018 and 2017. As of December 31, 2018 and 2017, the corresponding loan receivable balances were $22.5 million and $102.3 million, respectively, and are included in "Loans receivable and other lending investments, net" on the Company's consolidated balance sheets. The principal and interest due on these loan participations payable are paid from cash flows of the corresponding loans receivable, which serve as collateral for the participations.