COMMERCIAL LOAN INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2019

COMMERCIAL LOAN INVESTMENTS

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

The Company’s commercial loan investment portfolio was comprised of the following at December 31, 2019:

	Date of	Maturity	Original Face		Current Face		Carrying
Description	Investment	Date	Amount		Amount		Value		Coupon Rate
First Mortgage – 72-Acre Land Parcel, Orlando, FL	June 2019	June 2020	$	8,000,000	$	8,000,000	$	7,927,869	12.00%
Mortgage Note – 400 Josephine Street, Austin, TX	July 2019	July 2020		8,250,000		8,250,000		8,207,964	11.50%
Ground Lease Loan – 400 Josephine Street, Austin, TX	July 2019	N/A		16,250,000		16,250,000		16,443,942	N/A
LPGA Buyer Loan – Daytona Beach, FL	Oct 2019	Oct 2020		2,070,000		2,070,000		2,045,398	7.50%
			$	34,570,000	$	34,570,000	$	34,625,173

The carrying value of the commercial loan investment portfolio at December 31, 2019 consisted of the following:

	Total
Current Face Amount	$	34,570,000
Imputed Interest over Rent Payments Received on Ground Lease Loan		193,943
Unaccreted Origination Fees		(138,770)
Total Commercial Loan Investments	$	34,625,173