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SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE
 12 Months Ended
Dec. 31, 2012
Schedule IV - MORTGAGE LOANS ON REAL ESTATE [Abstract]  
Schedule IV - MORTGAGE LOANS ON REAL ESTATE
SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE
 
DECEMBER 31, 2012
 
(In thousands)
 
 
 
 
 
 
 
 
 
Principal
 
 
 
 
 
 
 
 
 
Amount of
 
 
 
 
Final
Periodic
 
Face
 
Carrying
 
Loan Subject to
 
 
 
Interest
 
Maturity
Payment
Prior
Amount of
 
Amount of
 
Delinquent Principal
 
Description
 
Rate
 
Date
Term
Liens
Mortgage
 
Mortgage
 
and Interest
 
2100 Ross Avenue (1)
 
 
6.1
%
May 2012
Interest only (2)
None
 
$
10,000
 
 
$
-
 
 
$
-
 
One Park Ten
 
 
7.3
%
June 2012
Interest only (3)
None
 
 
1,500
 
 
 
-
 
 
 
-
 
 
(1) This is a B participation piece of a first mortgage secured by an 844,000 square foot office building in Dallas, Texas. Parkway recorded a non-cash impairment loss of $9.2 million during 2011. During third quarter 2012, Parkway received a $500,000 payment which was classified as a recovery of losses on mortgage loan receivable. The Company's original cash investment in the loan was $6.9 million and was purchased in November 2007.
 
(2) The note requires interest only payments until maturity, at which time a principal payment of $10.0 million will be due.
 
(3) The note requires interest only payments until maturity, at which time a principal payment of $1.5 million will be due.
 


NOTE TO SCHEDULE IV
At December 31, 2012, 2011 and 2010
(In thousands)
 
 
 
 
December 31
 
 
 
2012
 
 
2011
 
 
2010
 
Balance at beginning of year
 
$
1,500
 
 
$
10,336
 
 
$
8,126
 
Additions:
 
 
 
 
 
 
 
 
 
 
 
 
        New mortgage loan
 
 
-
 
 
 
-
 
 
 
1,500
 
       Amortization of discount
 
 
-
 
 
 
399
 
 
 
710
 
Deductions:
 
 
 
 
 
 
 
 
 
 
 
 
       Mortgage loan payment
 
 
(1,500
)
 
 
-
 
 
 
-
 
       Impairment loss
 
 
-
 
 
 
(9,235
)
 
 
-
 
Balance at end of year
 
$
-
 
 
$
1,500
 
 
$
10,336