Schedule IV - Mortgage Loans on Real Estate

12 Months Ended

Dec. 31, 2018

SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]

Schedule IV - Mortgage Loans on Real Estate

Schedule IV - Mortgage Loans on Real Estate

As of December 31, 2018

(in thousands)

Loan Type

Description

Location

Interest Payment Rates

Maximum Maturity Date(1)

Periodic Payment Terms(2)

Prior Liens

Face Amount of Loans

Carrying Amount of Loans

Senior loan(3)(4)

Multifamily

Gulfport, MS

L+3.75%

3/9/2019

I/O

—

$

9,500

$

9,519

Senior loan(3)(4)

Office

Memphis, TN

L+4.25%

10/9/2022

I/O

—

29,250

29,357

Senior loan(3)(4)

Office

Landover, MD

L+4.85%

12/9/2022

I/O

—

13,006

13,033

Senior loan(3)(4)

Multifamily

Las Vegas, NV

L+4.00%

3/9/2023

I/O

—

12,173

12,187

Senior loan(4)

Office

Newport Beach, CA

L+4.63%

3/9/2021

I/O

—

5,186

5,188

Senior loan(3)(4)

Hospitality

Las Vegas, NV

L+4.50%

3/7/2022

I/O

—

12,050

12,078

Senior loan(3)(4)

Office

Austin, TX

L+4.25%

4/9/2023

I/O

—

14,298

14,330

Senior loan(3)(4)

Office

New York, NY

L+3.75%

5/9/2021

I/O

—

30,000

29,990

Senior loan(3)(4)

Multifamily

East Orange, NJ

L+4.65%

5/1/2023

I/O

—

19,800

19,816

Senior loan(3)(4)

Retail

Miami, FL

L+4.00%

6/9/2023

I/O

—

12,000

12,003

Senior loan(4)

Retail

Miami, FL

L+4.25%

6/9/2023

I/O

—

6,750

6,752

Senior loan(3)(4)

Retail

Miami, FL

L+4.50%

6/9/2023

I/O

—

11,000

11,002

Senior loan(3)(4)

Multifamily

Jacksonville, FL

L+4.25%

7/9/2023

I/O

—

9,345

9,346

Senior loan(3)(4)

Hospitality

Gaithersburg, MD

L+5.25%

8/9/2023

I/O

—

12,221

12,224

Senior loan(3)(4)

Industrial

Fayetteville, NC

L+4.25%

8/9/2023

I/O

—

12,500

12,500

Senior loan(3)(4)

Multifamily

Seattle, WA

L+3.80%

11/9/2022

I/O

—

12,400

12,395

Senior loan(3)(4)

Multifamily

New York, NY

L+11.00

%(5)

1/9/2022

I/O

—

17,500

17,487

—

$

238,979

$

239,207

(1) Maximum maturity assumes all extension options are exercised by the borrower.

(2) I/O = interest only.

(3) Loan is in excess of 3% of the carrying amount of total loans.

(4) Loan is not delinquent with respect to principal or interest.

(5) Interest rate on the senior loan will reset to L+5.50% when certain conditions have been met.

The following table reconciles mortgage loans on real estate for the years ended December 31, 2018 and 2017:

	For the Year Ended December 31,
	2018			2017
Balance at beginning of period	$	49,929		$	—
Additions during period:
Loan fundings		191,437			49,848
Amortization of deferred fees and expenses on loans		296			81
Deductions during period:
Collections of principal		(2,455	)		—
Loans sold		—			—
Balance at end of period	$	239,207		$	49,929