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Schedule IV - Mortgage Loans on Real Estate
 12 Months Ended
Dec. 31, 2021
Notes to Financial Statements  
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Text Block]

KIMCO REALTY CORPORATION AND SUBSIDIARIES

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE

As of December 31, 2021

(in thousands)

 

Description

 

Interest Rate

 

Final Maturity Date

Periodic Payment Terms (a)

 

Prior Liens

  

Original Face Amount of Mortgages

  

Carrying Amount of Mortgages (b)

  

Principal Amount of Loans Subject to Delinquent Principal or Interest

 

Mortgage Loans:

                      

Retail

                      

Mesa, AZ

  12.00%

Aug-21

I

 $-  $500  $500  $500 

Pompano, FL

  12.00%

Dec-22

I

  -   25,000   25,000   - 

Jacksonville, FL

  10.00%

Nov-26

I

  -   15,000   15,000   - 

San Antonio, TX

  12.50%

Sep-27

I

  -   21,500   21,500   - 

Las Vegas, NV

  12.00%

May-33

I

  -   3,075   3,075   - 

Las Vegas, NV

  7.00%

Oct-53

I

  -   3,410   3,410   - 
                       
                       

Nonretail

                      

Commack, NY

  7.41%

Oct-26

P&I

  -   1,354   211   - 

Melbourne, FL

  6.88%

Dec-30

P&I

  -   500   226   - 
                       

Other Financing Loans:

                      

Nonretail

                      

   Borrower A

  5.00%

Apr-22

P&I

  -   175   105   - 

   Borrower B

  7.00%

Mar-31

P&I

  -   397   375   - 
   Borrower C  8.00%Jun-22I  -   5,000   5,000   - 

Allowance for Credit losses:

                (1,300)    
                       
        $-  $75,911  $73,102  $500 

 

(a)  I = Interest only; P&I = Principal & Interest.

(b)  The aggregate cost for Federal income tax purposes was approximately $73.1 million as of December 31, 2021.

 

For a reconciliation of mortgage and other financing receivables from January 1, 2019 to December 31, 2021, see Footnote 13 of the Notes to the Consolidated Financial Statements included in this Form 10-K.

 

The Company feels it is not practicable to estimate the fair value of each receivable as quoted market prices are not available.  

The cost of obtaining an independent valuation on these assets is deemed excessive considering the materiality of the total receivables.