Notes Receivable (Tables)

6 Months Ended

Jun. 30, 2021

Receivables [Abstract]

Schedule of Notes Receivable

The following table summarizes our notes receivable as of June 30, 2021 and December 31, 2020:

	Carrying value
Property/Borrower	June 30, 2021		December 31, 2020		Interest Rate		Maturity Date
ABC Land and Development, Inc.	$	4,408	$	4,408	9.50	%	6/30/26
ABC Paradise, LLC	1,210		1,210		9.50	%	6/30/26
Autumn Breeze(1)	2,288		1,867		5.00	%	7/1/22
Bellwether Ridge(1)	3,944		3,858		5.00	%	11/1/26
Forest Pines(1)	2,872		2,869		5.00	%	11/1/22
Lake Wales	3,000		3,000		9.50	%	6/30/26
Legacy Pleasant Grove	496		496		12.00	%	10/23/22
McKinney Ranch	4,554		4,554		6.00	%	9/15/22
One Realco Land Holding, Inc.	1,728		1,728		9.50	%	6/30/26
Parc at Ingleside(1)	3,114		2,523		5.00	%	11/1/26
Parc at Opelika(1)	1,891		—		10.00	%	1/13/23
Parc at Windmill Farms(1)	7,825		7,803		5.00	%	11/1/22
Phillips Foundation for Better Living, Inc.(2)	—		61		12.00	%	3/31/23
Phillips Foundation for Better Living, Inc.(2)	813		—		12.00	%	3/31/24
Plum Tree(1)	1,254		857		5.00	%	4/26/26
Riverview on the Park Land, LLC	1,045		1,045		9.50	%	6/30/26
RNC Portfolio, Inc.	8,853		8,853		5.00	%	9/1/24
Spartan Land	5,907		5,907		12.00	%	1/16/23
Spyglass of Ennis(1)	5,362		5,360		5.00	%	11/1/22
Steeple Crest(1)	6,498		6,498		5.00	%	8/1/26
Unified Housing Foundation, Inc. (2)(3)	2,880		2,880		12.00	%	6/30/23
Unified Housing Foundation, Inc. (2)(3)	212		212		12.00	%	6/30/23
Unified Housing Foundation, Inc. (2)(3)	6,831		6,831		12.00	%	6/30/23
Unified Housing Foundation, Inc. (2)(3)	10,401		10,896		12.00	%	6/30/23
Unified Housing Foundation, Inc. (2)(3)	10,096		10,096		12.00	%	3/31/22
Unified Housing Foundation, Inc. (2)(3)	6,990		6,990		12.00	%	3/31/23
Unified Housing Foundation, Inc. (2)(3)	3,615		3,615		12.00	%	5/31/23
Unified Housing Foundation, Inc. (2)(3)	24,055		26,209		12.00	%	12/31/32
Unified Housing Foundation, Inc. (2)(3)	6,521		—		12.00	%	3/31/24
Unified Housing Foundation, Inc.(2)(3)	1,549		—		12.00	%	4/30/24
Unified Housing Foundation, Inc.(2)(3)	184		—		12.00	%	6/30/24
	$	140,396	$	130,626

(1)The note is convertible, at our option, into a 100% ownership interest in the underlying development property, and is collateralized by the underlying development property.

(2) The borrower is determined to be a related party due to our significant investment in the performance of the collateral secured by the notes receivable.(3) Principal and interest payments on the notes from Unified Housing Foundation, Inc. (“UHF”) are funded from surplus cash flow from operations, sale or refinancing of the underlying properties and are cross collateralized to the extent that any surplus cash available from any of the properties underlying the notes.