XML 70 R12.htm IDEA: XBRL DOCUMENT v3.2.0.727
Investment Securities
 6 Months Ended
Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]  
Investment Securities
Investment Securities
The Company's investment securities are comprised of investments in redeemable preferred stock and equity securities, with an aggregate fair value of $3.6 million and $4.7 million as of June 30, 2015 and December 31, 2014, respectively. The equity securities consist of a real estate income fund that is managed by an affiliate of the Sponsor. See Note 14 — Related Party Transactions and Arrangements.
The Company's preferred stock investment is redeemable at the issuer's option after five years from issuance.
The following table details the unrealized gains and losses on investment securities as of June 30, 2015 and December 31, 2014:
(In thousands)
 
Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
June 30, 2015
 
 
 
 
 
 
 
 
Redeemable preferred stock
 
$
238

 
$
15

 
$
—

 
$
253

Equity securities
 
3,169

 
141

 
—

 
3,310

Total
 
$
3,407

 
$
156

 
$
—

 
$
3,563

December 31, 2014
 
 
 
 
 
 
 
 
Redeemable preferred stock
 
$
1,288

 
$
21

 
$
(12
)
 
$
1,297

Equity securities
 
3,127

 
235

 
—

 
3,362

Total
 
$
4,415

 
$
256

 
$
(12
)
 
$
4,659


As of June 30, 2015, the Company did not have any securities in a continuous unrealized loss position. No other-than-temporary impairment charges were recognized during the three and six months ended June 30, 2015 and 2014.