Notes Receivable (Tables)

9 Months Ended

Sep. 30, 2014

Notes receivable consisted of the following (in thousands):

	September 30, 2014		December 31, 2013
Loans receivable	$	52,820	$	72,218
Other notes		1,016		1,034
Tax Increment Financing Bonds ("TIF Bonds")^(A)		3,809		5,086
	$	57,645	$	78,338

(A)	Principal and interest are payable solely from the incremental real estate taxes, if any, generated by the respective shopping center and development project pursuant to the terms of the financing agreement.

Loans Receivable on Real Estate

As of September 30, 2014 and December 31, 2013, the Company had six and seven loans receivable outstanding, respectively. The following table reconciles the loans receivable on real estate for the nine-month periods ended September 30, 2014 and 2013 (in thousands):

	2014			2013
Balance at January 1	$	72,218		$	60,378
Additions:
New mortgage loans		—			21,967
Interest		810			319
Accretion of discount		689			651
Deductions:
Payments of principal and interest		(347	)		(11,670	)
Other^(A)		(20,550	)		—
Balance at September 30	$	52,820		$	71,645

(A)	Loan applied toward the purchase price of the asset acquired in Chicago, Illinois (Note 3).