Notes Receivable (Tables)

3 Months Ended

Mar. 31, 2017

Notes Receivable

Schedule of notes receivable held by the company

($ in thousands)		Principal Outstanding as of				Maturity
Loan	Payment Terms	March 31, 2017		December 31, 2016		Date
Mortgage Note(1)	Principal & interest due at maturity	$	1,800	$	1,800	1/15/2017
Mortgage Note (2)	Principal & interest due at maturity		240		980	3/16/2022
Mortgage Note (2)	Principal & interest due at maturity		2,194		-	3/16/2022
Total outstanding principal			4,234		2,780
Points paid, net of direct issuance costs			(3)		(4)
Interest receivable (net prepaid interest)			16		67
Total notes and interest receivable		$	4,247	$	2,843

(1) In January 2016, the maturity date of the note was extended to January 15, 2017 with year one interest received at the time of the extension and principal and remaining interest due at maturity.  The Company is currently in negotiations to extend the terms with the borrower.

(2) The original note was renegotiated and a second note was entered into simultaneously, with the borrower during the quarter. The notes include mortgages on two additional properties in Colorado that include repurchase options for the properties at a fixed price that are exercisable between the second and fifth anniversary of the notes by the borrower.