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Loans Portfolio (Table)
 12 Months Ended
Dec. 31, 2021
Receivables [Abstract]  
Schedule of Loans and Financing Receivable

The Company’s loans receivable portfolio as of December 31, 2021 was comprised of the following loans (in thousands, except for number of investments and number of loans):

 

 

 

Number of

Investments

 

Number of

Loans

 

Loan Commitment(5)

 

 

Principal Outstanding

 

 

Carrying

Value

 

 

Weighted Average Stated Rate(2)

 

 

Weighted Average Interest Rate(4)

 

Loans receivable held-for-investment:

 

 

 

 

 

 

 

 

 

 

 

 

 

Variable:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Senior loans(1,3)

 

51

 

88

 

$

7,163,032

 

 

$

6,119,619

 

 

$

6,085,351

 

 

 

L + 4.06%

%

 

 

5.16

%

Subordinate loans

 

3

 

4

 

 

137,079

 

 

 

133,119

 

 

 

133,552

 

 

 

L + 10.38%

%

 

 

11.37

%

 

 

 

 

 

 

 

7,300,111

 

 

 

6,252,738

 

 

 

6,218,903

 

 

 

L + 4.19%

%

 

 

5.29

%

Fixed:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Senior loans(1)

 

3

 

4

 

$

62,573

 

 

$

62,573

 

 

$

62,782

 

 

 

 

 

 

 

10.09

%

Subordinate loans

 

2

 

2

 

 

125,927

 

 

 

125,927

 

 

 

125,620

 

 

 

 

 

 

 

8.49

%

 

 

 

 

 

 

 

188,500

 

 

 

188,500

 

 

 

188,402

 

 

 

 

 

 

 

9.02

%

Total/Weighted Average

 

 

 

 

 

$

7,488,611

 

 

$

6,441,238

 

 

$

6,407,305

 

 

 

 

 

 

 

5.40

%

Allowance for loan losses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(67,010

)

 

 

 

 

 

 

 

 

Loans receivable held-for-investment, net

 

 

$

6,340,295

 

 

 

 

 

 

 

 

 

 

(1)

Senior loans include senior mortgages and similar credit quality loans, including related contiguous subordinate loans, and pari passu participations in senior mortgage loans.

(2)

One-month LIBOR as of December 31, 2021 was 0.10%. Weighted average is based on outstanding principal as of December 31, 2021.

(3)

Includes a fixed rate loan with an outstanding principal balance of $33.5 million and a loan commitment of $39.7 million at December 31, 2021, which shares the same collateral as floating rate loans with an outstanding principal balance of $103.1 million and a loan commitment of $104.4 million at December 31, 2021.

(4)

Reflects the weighted average interest rate based on the applicable floating benchmark rate (if applicable), including LIBOR floors (if applicable). Weighted average is based on outstanding principal as of December 31, 2021.

(5)

Loan commitment represents initial loan commitments, as adjusted by commitment reductions, less loan repayments and transfers which qualified for sale accounting under GAAP.

The Company’s loans receivable portfolio as of December 31, 2020 was comprised of the following loans (in thousands, except for number of investments and number of loans):

 

 

 

Number of

Investments

 

Number of

Loans

 

Loan Commitment(5)

 

 

Principal

Outstanding

 

 

Carrying

Value(6)

 

 

Weighted Average Stated Rate(2)

 

 

Weighted Average Interest Rate(4)

 

Loans receivable held-for- investment

 

 

 

 

 

 

 

 

 

 

 

 

 

Variable:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Senior loans(1,3)

 

46

 

80

 

$

6,395,473

 

 

$

5,272,201

 

 

$

5,252,577

 

 

 

L + 4.35%

%

 

 

5.93

%

Subordinate loans

 

8

 

11

 

 

852,982

 

 

 

782,646

 

 

 

782,167

 

 

 

L + 8.72%

%

 

 

10.20

%

 

 

 

 

 

 

 

7,248,455

 

 

 

6,054,847

 

 

 

6,034,744

 

 

 

L + 4.91%

%

 

 

6.48

%

Fixed:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Senior loans(1)

 

2

 

3

 

$

75,669

 

 

$

75,669

 

 

$

69,523

 

 

 

 

 

 

 

12.59

%

Subordinate loans

 

2

 

2

 

 

25,527

 

 

 

21,815

 

 

 

21,558

 

 

 

 

 

 

 

11.00

%

 

 

 

 

 

 

 

101,196

 

 

 

97,484

 

 

 

91,081

 

 

 

 

 

 

 

12.24

%

Total/Weighted Average

 

 

 

 

 

$

7,349,651

 

 

$

6,152,331

 

 

$

6,125,825

 

 

 

 

 

 

 

6.57

%

 

(1)

Senior loans include senior mortgages and similar credit quality loans, including related contiguous subordinate loans, and pari passu participations in senior mortgage loans.

(2)

One-month LIBOR as of December 31, 2020 was 0.14%. Weighted average is based on outstanding principal as of December 31, 2020.

(3)

Includes a fixed rate loan with an outstanding principal balance of $6.4  million and a loan commitment of $39.7 million as of December 31, 2020, which shares the same collateral as floating rate loans with an outstanding principal balance of $138.3 million and a loan commitment of $146.8 million at December 31, 2020.

(4)

Reflects the weighted average interest rate based on the applicable floating benchmark rate (if applicable), including LIBOR floors (if applicable). Weighted average is based on outstanding principal as of December 31, 2020.

(5)

Loan commitment represents initial loan commitments, as adjusted by commitment reductions, less loan repayments and transfers which qualified for sale accounting under GAAP.

(6)

Carrying value is presented net of loan loss reserves of $6.0 million.
Schedule of Range of LIBOR Floors

 

One-month LIBOR Floor Range

 

Unpaid

Principal

Balance

 

 

% of

Total

 

 

Cumulative

%

 

Fixed rate

 

$

221,963

 

 

 

3

%

 

 

3

%

2.00% - 2.50%

 

 

1,333,912

 

 

 

21

%

 

 

24

%

1.50% - 1.99%

 

 

1,381,483

 

 

 

22

%

 

 

46

%

1.00% - 1.49%

 

 

815,291

 

 

 

13

%

 

 

59

%

0.50% - 0.99%

 

 

210,930

 

 

 

3

%

 

 

62

%

< 0.50%

 

 

1,545,111

 

 

 

24

%

 

 

86

%

No floor

 

 

932,548

 

 

 

14

%

 

 

100

%

Total

 

$

6,441,238

 

 

 

 

 

 

 

 

 

 
Schedule of Loan Receivable Portfolio

Activity relating to the loan receivable portfolio for the twelve months ended December 31, 2021 and 2020 (in thousands):

 

 

 

Held-for-

Investment

 

 

Held-for-

Sale

 

 

Total

 

Balance at December 31, 2020

 

$

6,125,825

 

 

$

-

 

 

$

6,125,825

 

Initial funding of new loan originations and acquisitions

 

 

2,331,328

 

 

 

-

 

 

 

2,331,328

 

Advances on existing loans

 

 

623,198

 

 

 

-

 

 

 

623,198

 

Non-cash advances in lieu of interest

 

 

69,291

 

 

 

-

 

 

 

69,291

 

Origination fees on loans receivable, net

 

 

(29,827

)

 

 

-

 

 

 

(29,827

)

Exit fees received on loans receivable

 

 

(6,558

)

 

 

-

 

 

 

(6,558

)

Extension fees received on loans receivable

 

 

(2,711

)

 

 

-

 

 

 

(2,711

)

Repayments of loans receivable

 

 

(2,453,804

)

 

 

-

 

 

 

(2,453,804

)

Repayments of non-cash advances to loans in lieu of interest

 

 

(126,865

)

 

 

-

 

 

 

(126,865

)

Accretion of origination fees, net

 

 

25,237

 

 

 

-

 

 

 

25,237

 

Realized loss on sale of investments

 

 

-

 

 

 

(141

)

 

 

(141

)

Transfer to loans held for sale

 

 

(48,147

)

 

 

48,147

 

 

 

-

 

Sale of loans receivable held-for-sale

 

 

-

 

 

 

(48,006

)

 

 

(48,006

)

Transfer to real estate owned, net

 

 

(103,901

)

 

 

-

 

 

 

(103,901

)

Allowance for loan losses

 

 

(62,771

)

 

 

-

 

 

 

(62,771

)

Balance at December 31, 2021

 

$

6,340,295

 

 

$

-

 

 

$

6,340,295

 

 

 

 

 

Held-for-

Investment

 

 

Held-for-

Sale

 

 

Total

 

Balance at December 31, 2019

 

$

5,940,268

 

 

$

—

 

 

$

5,940,268

 

Initial funding of new loan originations and acquisitions

 

 

226,661

 

 

 

—

 

 

 

226,661

 

Advances on existing loans

 

 

568,767

 

 

 

—

 

 

 

568,767

 

Non-cash advances in lieu of interest

 

 

90,065

 

 

 

—

 

 

 

90,065

 

Origination fees on loans receivable, net

 

 

(3,761

)

 

 

—

 

 

 

(3,761

)

Exit fees received on loans receivable

 

 

(1,247

)

 

 

—

 

 

 

(1,247

)

Extension fees received on loans receivable

 

 

(801

)

 

 

—

 

 

 

(801

)

Repayments of loans receivable

 

 

(548,545

)

 

 

—

 

 

 

(548,545

)

Repayments of non-cash advances to loans in lieu of interest

 

 

(15,784

)

 

 

—

 

 

 

(15,784

)

Accretion of origination fees, net

 

 

27,859

 

 

 

—

 

 

 

27,859

 

Realized loss on sale of investments

 

 

—

 

 

 

(640

)

 

 

(640

)

Transfer to loans held-for-sale

 

 

(151,657

)

 

 

151,657

 

 

 

—

 

Sale of loans receivable held-for-sale

 

 

—

 

 

 

(151,017

)

 

 

(151,017

)

Allowance for loan losses

 

 

(6,000

)

 

 

—

 

 

 

(6,000

)

Balance at December 31, 2020

 

$

6,125,825

 

 

$

—

 

 

$

6,125,825

 

The Company’s loan participations sold as of December 31, 2021 are summarized as follows (in thousands):

 

 

 

 

Contractual

Maturity

Date

 

Maximum

Extension

Date

 

Par Value

 

 

Carrying

Value

 

 

Carrying

Value of

Collateral

 

Variable:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2

)

8/1/2022

 

8/1/2023

 

 

148,322

 

 

 

148,133

 

 

 

290,783

 

Fixed:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12/31/2024

 

12/31/2025

 

 

20,000

 

 

 

19,611

 

 

 

130,061

 

Total/Weighted Average(1)

 

$

168,322

 

 

$

167,744

 

 

$

420,844

 

 

(1)

Weighted average interest rate as of December 31, 2021 was 5.43%. Weighted average is based on outstanding principal as of December 31, 2021.

(2)

This financing has a LIBOR floor of 1.85%.

The Company’s loan participations sold as of December 31, 2020 are summarized as follows (in thousands):

 

Contractual

Maturity

Date

 

Maximum

Extension

Date

 

Par Value

 

 

Carrying

Value

 

 

Carrying

Value of

Collateral

 

8/1/2022

 

8/1/2023

 

$

189,750

 

 

$

188,995

 

 

$

370,541

 

8/20/2022

 

8/20/2024

 

 

138,071

 

 

 

136,843

 

 

 

177,732

 

3/21/2021

 

3/21/2023

 

 

27,582

 

 

 

27,493

 

 

 

49,710

 

9/9/2021

 

9/9/2024

 

 

44,645

 

 

 

44,479

 

 

 

109,007

 

9/9/2021

 

9/9/2024

 

 

42,859

 

 

 

42,701

 

 

 

104,649

 

9/9/2022

 

9/9/2024

 

 

76,513

 

 

 

75,973

 

 

 

76,593

 

Total/Weighted Average(1)

 

$

519,420

 

 

$

516,484

 

 

$

888,232

 

 

(1)

Weighted average interest rate as of December 31, 2020 was 5.09%. Weighted average is based on outstanding principal as of December 31, 2020.

 

 
Schedule Of Interests In Loans Receivable Held For Investment

The Company had one interest in loans receivable as of December 31, 2021 (in thousands):

 

 

 

Number of

Investments

 

Number of

Loans

 

Loan Commitment(3)

 

 

Principal Outstanding

 

 

Carrying Value

 

 

Stated Rate(2)

 

 

Interest Rate(4)

 

Senior loans(1)

 

1

 

1

 

$

200,727

 

 

$

161,566

 

 

$

161,864

 

 

L + 4.25%

 

 

5.50%

 

Allowance for loan losses

 

 

 

 

 

 

 

 

 

 

(14

)

 

 

 

 

 

 

 

 

Interests in loans receivable held-for-investment, net

 

 

 

 

 

 

$

161,850

 

 

 

 

 

 

 

 

 

 

(1)

Senior loans include senior mortgages and similar credit quality loans, including related contiguous subordinate loans and pari passu participations in senior mortgage loans.

(2)

One-month LIBOR as of December 31, 2021 was 0.10%. Weighted average is based on outstanding principal as of December 31, 2021

(3)

Loan commitment represents initial loan commitments, as adjusted by commitment reductions, less loan repayments and transfers which qualified for sale accounting under GAAP.

(4)

Reflects the weighted average interest rate based on the applicable floating benchmark rate (if applicable), including LIBOR floors (if applicable). Weighted average is based on outstanding principal as of December 31, 2021

The Company’s interests in loans receivable portfolio as of December 31, 2020 was comprised of the following loans (in thousands):

 

 

 

Number of

Investments

 

Number of

Loans

 

Loan Commitment(3)

 

 

Principal Outstanding

 

 

Carrying Value

 

 

Weighted Average Stated Rate(2)

 

Weighted Average Interest Rate(4)

 

Senior loans(1)

 

2

 

2

$

515,190

 

 

$

338,957

 

 

$

338,270

 

 

L + 4.54%

 

5.39%

 

 

(1)

Senior loans include senior mortgages and similar credit quality loans, including related contiguous subordinate loans and pari passu participations in senior mortgage loans.

(2)

One-month LIBOR as of December 31, 2020 was 0.14%. Weighted average is based on outstanding principal as of December 31, 2020.

(3)

Loan commitment represents initial loan commitments, as adjusted by commitment reductions, less loan repayments and transfers which qualified for sale accounting under GAAP.

(4)

Reflects the weighted average interest rate based on the applicable floating benchmark rate (if applicable), including LIBOR floors (if applicable). Weighted average is based on outstanding principal as of December 31, 2020.  
Schedule of Interests in Loans Receivable Portfolio

Activity relating to the interests in loan receivable portfolio for the years ended December 31, 2021 and 2020 (in thousands):

 

 

 

December 31, 2021

 

 

December 31, 2020

 

Balance at beginning of period

 

$

338,270

 

 

$

222,891

 

Advances on existing interests in loans receivable

 

 

101,767

 

 

 

118,582

 

Non-cash advances to interests in loans receivable in lieu of interest

 

 

18,733

 

 

 

13,782

 

Exit fees received on interests in loans receivable

 

 

(265

)

 

 

—

 

Extension fees received on interests in loans receivable

 

 

—

 

 

 

(453

)

Repayments of interests in loans receivable

 

 

(269,988

)

 

 

(15,417

)

Repayment of non-cash advances to interests in loans receivable in lieu of interest

 

 

(27,903

)

 

 

(1,566

)

Accretion of origination fees, net

 

 

1,250

 

 

 

451

 

Allowance for loan loss

 

 

(14

)

 

 

—

 

Balance at end of period

 

$

161,850

 

 

$

338,270

 
Schedule of Loans Receivable and Interests in Portfolio By Loan Type

The following table presents the Company’s loans receivable and interests in loans receivable portfolio by loan type, as well as property type and geographic location of the properties collateralizing these loans as of December 31, 2021 and 2020 (dollars in thousands):

 

 

December 31, 2021

 

 

December 31, 2020

 

Loan Type (1)

 

Carrying Value

 

 

Percentage

 

 

Carrying Value (2)

 

 

Percentage

 

Senior loans(1)

 

$

6,309,997

 

 

 

96

%

 

$

5,660,370

 

 

 

88

%

Subordinate loans

 

 

259,172

 

 

 

4

%

 

 

803,725

 

 

 

12

%

 

 

$

6,569,169

 

 

 

100

%

 

$

6,464,095

 

 

 

100

%

Allowance for loan losses

 

$

(67,024

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

6,502,145

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property Type

 

Carrying Value

 

 

Percentage

 

 

Carrying Value (2)

 

 

Percentage

 

Office

 

$

1,113,805

 

 

 

17

%

 

$

1,056,109

 

 

 

16

%

Mixed-use

 

 

734,613

 

 

 

11

%

 

 

1,336,337

 

 

 

21

%

Hospitality

 

 

1,176,842

 

 

 

18

%

 

 

1,051,658

 

 

 

16

%

Land

 

 

631,713

 

 

 

10

%

 

 

525,147

 

 

 

8

%

Multifamily

 

 

1,986,628

 

 

 

30

%

 

 

1,462,450

 

 

 

23

%

For Sale Condo

 

 

710,660

 

 

 

11

%

 

 

902,812

 

 

 

14

%

Other

 

 

214,908

 

 

 

3

%

 

 

129,582

 

 

 

2

%

 

 

$

6,569,169

 

 

 

100

%

 

$

6,464,095

 

 

 

100

%

Allowance for loan losses

 

$

(67,024

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

6,502,145

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Geographic Location

 

Carrying Value

 

 

Percentage

 

 

Carrying Value (2)

 

 

Percentage

 

United States

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Northeast

 

$

2,734,550

 

 

 

41

%

 

$

3,078,980

 

 

 

48

%

Mid Atlantic

 

 

1,235,527

 

 

 

19

%

 

 

1,022,852

 

 

 

16

%

Midwest

 

 

309,298

 

 

 

5

%

 

 

237,879

 

 

 

4

%

Southeast

 

 

836,904

 

 

 

13

%

 

 

918,608

 

 

 

14

%

Southwest

 

 

269,461

 

 

 

4

%

 

 

87,750

 

 

 

1

%

West

 

 

1,156,896

 

 

 

18

%

 

 

1,109,026

 

 

 

17

%

Other

 

 

26,533

 

 

 

0

%

 

 

9,000

 

 

 

0

%

 

 

$

6,569,169

 

 

 

100

%

 

$

6,464,095

 

 

 

100

%

Allowance for loan losses

 

$

(67,024

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

6,502,145

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

Senior loans include senior mortgages and similar credit quality loans, including related contiguous subordinate loans and pari passu participations in senior mortgage loans.

(2)

Carrying value is presented net of loan loss reserve of $6.0 million.

 

 
Summarizes of Interest and Accretion Income from Loans Receivable

The following table summarizes the Company’s interest and accretion income from loans receivable held-for-investment, from loans receivable held-for-sale, from interests in loans receivable held-for-investment, and from interest on cash balances for the years ended December 31, 2021, 2020 and 2019 (in thousands):

 

 

 

Year Ended

 

 

 

December 31, 2021

 

 

December 31, 2020

 

 

December 31, 2019

 

Interest on loans receivable and interests in loans receivable

 

$

386,731

 

 

$

413,228

 

 

$

363,096

 

Interest on cash accounts

 

 

33

 

 

 

726

 

 

 

2,571

 

Prepayment fees

 

 

1,951

 

 

 

3,576

 

 

 

104

 

Accretion of origination fees, net

 

 

26,487

 

 

 

28,310

 

 

 

23,590

 

Miscellaneous income

 

 

61

 

 

 

100

 

 

 

—

 

Total interest and related income

 

$

415,263

 

 

$

445,940

 

 

$

389,361

 
Market Internal Risk Rating Benefit Activity

The following table allocates the principal balance and carrying value of the loans receivable and interests in loans receivable based on the Company’s internal risk ratings (in thousands):

 

December 31, 2021

 

Risk Rating

 

 

Number of Loans

 

 

Principal Balance

 

 

Carrying Value

 

 

1

 

 

 

1

 

 

$

35,721

 

 

$

35,699

 

 

2

 

 

 

7

 

 

 

705,886

 

 

 

703,714

 

 

3

 

 

 

74

 

 

 

4,678,785

 

 

 

4,649,076

 

 

4

 

 

 

15

 

 

 

1,155,879

 

 

 

1,154,147

 

 

5

 

 

 

2

 

 

 

26,533

 

 

 

26,533

 

 

 

 

 

 

99

 

 

$

6,602,804

 

 

$

6,569,169

 

Allowance for loan losses

 

 

 

 

 

 

 

 

 

 

 

(67,024

)

 

 

 

 

 

 

 

 

 

 

 

 

$

6,502,145

 

 

December 31, 2020

 

Risk Rating

 

 

Number of Loans

 

 

Principal Balance

 

 

Carrying Value

 

 

1

 

 

 

3

 

 

$

68,372

 

 

$

69,418

 

 

2

 

 

 

6

 

 

 

349,159

 

 

 

349,342

 

 

3

 

 

 

72

 

 

 

4,691,775

 

 

 

4,668,991

 

 

4

 

 

 

16

 

 

 

1,366,982

 

 

 

1,367,344

 

 

5

 

 

 

1

 

 

 

15,000

 

 

 

9,000

 

 

 

 

 

 

98

 

 

$

6,491,288

 

 

$

6,464,095

 
Schedule of Activity In Allowance For Loan Losses

The following table illustrates the change in the allowance for loan losses for the year ended December 31, 2021 (dollars in thousands):

 

 

 

Specific CECL Allowance (1)

 

 

Loans receivable held-for-investment

 

 

Interests in loans receivable held-for-investment

 

 

Accrued interest receivable

 

 

Unfunded loan commitments (2)

 

 

Total

 

Total allowance for loan losses, December 31, 2020

 

$

6,000

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

6,000

 

Initial CECL allowance, January 1, 2021

 

 

-

 

 

 

64,274

 

 

 

406

 

 

 

357

 

 

 

13,214

 

 

 

78,251

 

Increase (reversal) in allowance

 

 

2,094

 

 

 

(3,597

)

 

 

(392

)

 

 

(139

)

 

 

(6,928

)

 

 

(8,962

)

Principal charge-offs

 

 

(1,761

)

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1,761

)

Total allowance for loan losses, December 31, 2021

 

$

6,333

 

 

$

60,677

 

 

$

14

 

 

$

218

 

 

$

6,286

 

 

$

73,528

 

Percent of Unpaid Principal Balance at December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.1

%

 

(1)

As of December 31, 2020, amounts represent specific loan loss provisions recorded on assets before the adoption of ASU 2016-13. After the adoption of ASU 2016-13 on January 1, 2021, amounts represent Specific CECL allowance.

(2)

The CECL allowance for unfunded commitments is included in accounts payable and accrued expenses on the Company’s consolidated balance sheets.
Schedule of Carrying Value of Loan Portfolio Based on Internal Risk Ratings

The Company’s primary credit quality indicator is the Company’s internal risk ratings, which are further discussed above.  The following table presents the amortized cost basis of the Company’s loans receivable and interest in loans receivable as of December 31, 2021 by year of origination and risk rating (dollars in thousands):

 

 

 

Amortized Cost Basis by Origination Year as of December 31, 2021

 

Risk Rating

 

Number of Loans

 

Amortized Cost Basis

 

2021

 

2020

 

2019

 

2018

 

2017

 

1

 

1

 

$

35,699

 

$

-

 

$

-

 

$

-

 

$

35,699

 

$

-

 

2

 

7

 

 

703,714

 

 

439,981

 

 

-

 

 

-

 

 

236,735

 

 

26,998

 

3

 

74

 

 

4,649,076

 

 

1,851,857

 

 

276,792

 

 

1,991,121

 

 

431,913

 

 

97,393

 

4

 

15

 

 

1,154,147

 

 

-

 

 

-

 

 

67,000

 

 

1,087,147

 

 

-

 

5

 

2

 

 

26,533

 

 

-

 

 

-

 

 

15,000

 

 

-

 

 

11,533

 

 

 

99

 

$

6,569,169

 

$

2,291,838

 

$

276,792

 

$

2,073,121

 

$

1,791,494

 

$

135,924