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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