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Notes Receivable and Current Expected Credit Losses (Tables)
 3 Months Ended
Mar. 31, 2021
Receivables [Abstract]  
Summary of Mezzanine Loans
The Company had the following notes receivable outstanding as of March 31, 2021 and December 31, 2020 ($ in thousands):
Outstanding loan amountInterest compounding
Development ProjectMarch 31,
2021		December 31,
2020		Maximum loan commitmentInterest rate
Delray Beach Plaza$— $14,289 $17,000 15.0 %
(a)
Annually
Interlock Commercial95,922 85,318 103,000 15.0 %
(b)
None
Solis Apartments at Interlock29,907 28,969 41,100 13.0 %Annually
Total mezzanine125,829 128,576 $161,100 
Other notes receivable6,912 6,809 
Notes receivable guarantee premium2,206 2,631 
Allowance for credit losses(1,741)(2,584)
Total notes receivable$133,206 $135,432 
________________________________________
(a) Loan was placed on nonaccrual status effective April 1, 2020.
(b) $3.0 million of this loan is subject to an interest rate of 18%.
Summary of Interest Income The Company recognized interest income for the three months ended March 31, 2021 and 2020 as follows (in thousands):
Three Months Ended March 31,
Development Project20212020
The Residences at Annapolis Junction$— $2,468 
(a)(b)
Delray Beach Plaza— 
(a)
489 
(a)
Nexton Square— 391 
Interlock Commercial3,075 
(b)
3,017 
(b)
Solis Apartments at Interlock938 838 
Total mezzanine4,013 7,203 
Other interest income103 23 
Total interest income$4,116 $7,226 
________________________________________
(a) Loan was placed on nonaccrual status effective April 1, 2020.
(b) Includes recognition of interest income related to an exit fee that is due upon repayment of the loan.
Allowance for Credit Losses on Financing Receivables Changes in the allowance for the three months ended March 31, 2021 and 2020 were as follows (in thousands):
Three Months Ended March 31,
 20212020
Beginning balance (December 31, 2020 and 2019, respectively)$2,584 $— 
Cumulative effect of accounting change— 2,825 
Unrealized credit loss provision (release)(55)377 
Extinguishment due to acquisition(788)— 
Ending balance$1,741 $3,202