XML 40 R29.htm IDEA: XBRL DOCUMENT v3.7.0.1
SCHEDULE IV MORTGAGE LOANS
 12 Months Ended
Dec. 31, 2016
Mortgage Loans on Real Estate [Abstract]  
MORTGAGE LOANS

 

SCHEDULE IV

 

AMERICAN REALTY INVESTORS, INC. 

MORTGAGE LOANS
December 31, 2016

 

Description   Interest
Rate		     Final
Maturity
Date		   Periodic Payment Terms   Prior Liens   Face Amount of Mortgage   Carrying
Amount of
Mortgage		   Principal or Loans Subject to Delinquent Principal or Interest  
                  (dollars in thousands)      
                                 
Christine Tunney     10.00 %   09/17   Interest only paid quarterly.     —     49     48     —  
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                                          
Compton Partners     10.00 %   09/17   Interest only paid quarterly.     —     289     289     —  
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                                          
David Monier     10.00 %   09/17   Interest only paid quarterly.     —     97     97     —  
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                                          
Earl Samson III     10.00 %   09/17   Interest only paid quarterly.     —     96     96     —  
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                                          
Edward Samson III     10.00 %   09/17   Interest only paid quarterly.     —     96     96     —  
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                                          
H198, LLC     12.00 %   01/20         —     5,907     5,907     —  
Las Vegas Land                                          
Hammon Operating Corporation     10.00 %   09/17   Interest only paid quarterly.     —     193     193     —  
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                                          
Harold Wolfe     10.00 %   09/17   Interest only paid quarterly.     —     193     193     —  
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                                          
Herrick Partners     10.00 %   09/17   Interest only paid quarterly.     —     91     91     —  
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                                          
Mary Anna MacLean     10.00 %   09/17   Interest only paid quarterly.     —     193     193     —  
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                                          
Michael Monier     10.00 %   09/17   Interest only paid quarterly.     —     304     304     —  
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                                          
Michale Witte     10.00 %   09/17   Interest only paid quarterly.     —     96     96     —  
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                                          
Palmer Brown Madden     10.00 %   09/17   Interest only paid quarterly.     —     96     96     —  
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                                          
Richard Schmaltz     10.00 %   09/17   Interest only paid quarterly.     —     203     203     —  
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                                          
Robert Baylis     10.00 %   09/17   Interest only paid quarterly.     —     193     193     —  
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                                          
Sherman Bull
     10.00 %   09/17   Interest only paid quarterly.     —     193     193     —  
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                                          
Unified Housing Foundation, Inc. (Cliffs of El Dorado/UH of McKinney, LLC)     12.00 %   12/32   Excess cash flow     12,663     2,469     2,097     —  
100% Interest in UH of Mckinney, LLC                                          
Unified Housing Foundation, Inc. (Echo Station)     12.00 %   12/32   Excess cash flow     9,719     1,809     1,481     —  
100% Interest in UH of Temple, LLC                                          

 

SCHEDULE IV
(Continued)

 

AMERICAN REALTY INVESTORS, INC.
MORTGAGE LOANS
December 31, 2016

 

Description   Interest Rate     Final Maturity Date     Periodic Payment Terms   Prior Liens     Face Amount of Mortgage     Carrying Amount of Mortgage     Principal or Loans Subject to Delinquent Principal or Interest  
                    (dollars in thousands)        
Unified Housing Foundation, Inc. (Inwood on the Park/UH of Inwood, LLC)     12.00 %   12/32     Excess cash flow     22,227       5,462       5,059       —  
100% Interest in UH of Inwood, LLC                                                  
Unified Housing Foundation, Inc. (Kensington Park/UH of Kensington, LLC)     12.00 %   12/32     Excess cash flow     18,723       4,310       3,933       —  
100% Interest in UH of Kensington, LLC                                                  
Unified Housing Foundation, Inc. (Lakeshore Villas/HFS of Humble, LLC)  (31.5% of cash flow)     12.00 %   12/32     Excess cash flow     15,756       8,836       6,368       —  
Interest in Unified Housing Foundation Inc.                                                  
Unified Housing Foundation, Inc. (Lakeshore Villas/HFS of Humble, LLC)     12.00 %   12/32     Excess cash flow     15,965       2,959       2,732       —  
100% Interest in HFS of Humble, LLC                                                  
Unified Housing Foundation, Inc. (Limestone Canyon)     12.00 %   12/32     Excess cash flow     13,621       9,216       7,293       —  
100% Interest in UH of Austin, LLC                                                  
Unified Housing Foundation, Inc. (Limestone Ranch)     12.00 %   12/32     Excess cash flow     18,641       12,335       7,953       —  
100% Interest in UH of Vista Ridge, LLC                                                  
Unified Housing Foundation, Inc. (Parkside Crossing)     12.00 %   12/32     Excess cash flow     11,544       2,772       2,272       —  
100% Interest in UH of Parkside Crossing, LLC                                                  
Unified Housing Foundation, Inc. (Reserve at White Rock I)     12.00 %   12/32     Excess cash flow     15,640       2,794       2,485       —  
100% Interest in UH of Harvest Hill I, LLC                                                  
Unified Housing Foundation, Inc. (Reserve at White Rock II)     12.00 %   12/32     Excess cash flow     14,026       2,843       2,555       —  
100% Interest in UH of Harvest Hill, LLC                                                  
Unified Housing Foundation, Inc. (Sendero Ridge)     12.00 %   12/32     Excess cash flow     22,984       12,663       9,303       —  
100% Interest in UH of Sendero Ridge, LLC                                                  
Unified Housing Foundation, Inc. (Timbers of Terrell)     12.00 %   12/32     Excess cash flow     7,294       1,702       1,323       —  
100% Interest in UH of Terrell, LLC                                                  
Unified Housing Foundation, Inc. (Tivoli)     12.00 %   12/32     Excess cash flow     10,398       12,761       7,966       —  
100% Interest in UH of Tivoli, LLC                                                  
Unified Housing Foundation, Inc. (Trails at White Rock)     12.00 %   12/32     Excess cash flow     21,712       4,245       3,815       —  
100% Interest in UH of Harvest Hill III, LLC                                                  
William H. Ingram     10.00 %   09/17     Interest only paid quarterly.     —       96       96       —  
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                                                  
William S. Urkiel     10.00 %   09/17     Interest only paid quarterly.     —       97       97       —  
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                                               —  
Willingham Revocable Trust     10.00 %   09/17     Interest only paid quarterly.     —       96       96       —  
Class A limited partnership interests in Edina Park Plaza Associates, L.P.                                                  
Various related party notes     various     various     Excess cash flow     —       1,349       1,349       —  
Various non-related party notes     various     various           —       496       796       —  

  

SCHEDULE IV
(Continued)

 

AMERICAN REALTY INVESTORS, INC.
MORTGAGE LOANS
December 31, 2016

 

Description   Interest Rate     Final Maturity Date     Periodic Payment Terms   Prior Liens     Face Amount of Mortgage     Carrying Amount of Mortgage     Principal or Loans Subject to Delinquent Principal or Interest  
                    (dollars in thousands)        
                                                 
Leman Development, Ltd. (1)     0.00 %   N/A           —       1,500       1,500       —  
One Realco Corporation (1)     3.00 %   01/17   Interest and principal due at maturity.     —       10,000       7,000       —  
Oulan-Chikh Family Trust     8.00 %   03/21         —       174       174       —  
Realty Advisors Management, Inc.
     2.28 %   12/19   Interest only paid quarterly.     —       20,387       20,387       —  
Unified Housing Foundation, Inc. (Lakeshore Villas/HFS of Humble, LLC) (68.5% of cash flow)     12.00 %   12/32   Excess cash flow     15,965       2,189       2,000       —  
Unified Housing Foundation, Inc.     12.00 %   12/18   Excess cash flow     —       2,665       2,657       —  
Unified Housing Foundation, Inc.     12.00 %   06/19   Excess cash flow     —       5,400       5,400       —  
Unified Housing Foundation, Inc.     12.00 %   12/17   Excess cash flow     —       1,207       1,207       —  
Unified Housing Foundation, Inc.     12.00 %   06/17   Excess cash flow     —       1,261       —       —  
Unified Housing Foundation, Inc.     12.00 %   12/18   Excess cash flow     —       3,994       3,994       —  
Unified Housing Foundation, Inc.     12.00 %   12/18   Excess cash flow     —       6,407       6,407       —  
Various related party notes     various     various     Excess cash flow     —       1,420       1,404       —  
Various non-related party notes     various     various           —       4,742       4,742       —  
                                      $ 134,230          
                                     Accrued interest       9,371          
                                     Allowance for estimated losses       (17,037 )        
                                      $ 126,564          

 

(1) Fully reserved

SCHEDULE IV
(Continued)

 

AMERICAN REALTY INVESTORS, INC.
MORTGAGE LOANS
As of December 31,

 

    2016     2015     2014  
    (dollars in thousands)  
                   
Balance at January 1,   $ 137,280     $ 152,645     $ 156,415  
Additions                        
New mortgage loans       11,703       18,055       32,380  
Increase (decrease) of interest receivable on mortgage loans       13,835       11,130       (10,097 )
Deductions                        
Amounts received     (19,217 )     (16,486 )     (25,492 )
Non-cash reductions       —       (28,064 )     (561 )
                         
Balance at December 31,     $ 143,601     $ 137,280     $ 152,645