COMMERCIAL LOAN AND MASTER LEASE INVESTMENTS (Tables)

3 Months Ended

Mar. 31, 2022

COMMERCIAL LOAN AND MASTER LEASE INVESTMENTS

Schedule of components of commercial loan investment portfolio

The Company’s commercial loan and master lease investments were comprised of the following at March 31, 2022 (in thousands):

Description	Date of Investment	Maturity Date	Original Face Amount		Current Face Amount		Carrying Value		Coupon Rate
Westland Gateway Plaza – Hialeah, FL	September 2020	N/A		21,085		21,085		21,151	N/A
Mortgage Note – 4311 Maple Avenue – Dallas, TX	October 2020	April 2023		400		400		394	7.50%
Mortgage Note – 110 N Beach Street – Daytona Beach, FL	June 2021	December 2022		364		364		364	10.00%
Construction Loan – The Exchange At Gwinnett – Buford, GA	January 2022	January 2024		8,700		—		(79)	7.25%
			$	30,549	$	21,849	$	21,830

The Company’s commercial loan and master lease investments were comprised of the following at December 31, 2021 (in thousands):

Description	Date of Investment	Maturity Date	Original Face Amount		Current Face Amount		Carrying Value		Coupon Rate
Carpenter Hotel – 400 Josephine Street, Austin, TX	July 2019	N/A	$	16,250	$	16,250	$	17,189	N/A
Westland Gateway Plaza – Hialeah, FL	September 2020	N/A		21,085		21,085		21,148	N/A
Mortgage Note – 4311 Maple Avenue – Dallas, TX	October 2020	April 2023		400		400		394	7.50%
Mortgage Note – 110 N Beach Street – Daytona Beach, FL	June 2021	December 2022		364		364		364	10.00%
			$	38,099	$	38,099	$	39,095

The carrying value of the commercial loan and master lease investments portfolio at March 31, 2022 and December 31, 2021 consisted of the following (in thousands):

	As of
	March 31, 2022		December 31, 2021
Current Face Amount	$	21,849	$	38,099
Imputed Interest over Rent Payments Received		66		1,002
Unaccreted Origination Fees		(81)		(2)
CECL Reserve		(4)		(4)
Total Commercial Loan and Master Lease Investments	$	21,830	$	39,095