Notes Receivable

3 Months Ended

Mar. 31, 2017

Receivables [Abstract]

Notes Receivable

4. Notes Receivable

The Company has notes receivable, including accrued interest, that are collateralized by certain rights in development projects, partnership interests, sponsor guaranties and/or real estate assets, some of which are subordinate to other financings.  

At March 31, 2017 and December 31, 2016, the Company had loans and other receivables outstanding of $49.9 million and $49.5 million, respectively, with maturity dates ranging from September 2017 to June 2023 and interest rates ranging from 5.6% to 12.0%.  The following table reconciles the loans receivable on real estate (in thousands):

	2017			2016
Balance at January 1	$	49,488		$	41,988
Additions:
Interest		261			—
Accretion of discount		269			254
Deductions:
Collections of principal and interest		(134	)		(126	)
Balance at March 31	$	49,884		$	42,116

At March 31, 2017, the Company did not have any loans outstanding that were past due.  In April 2017, a loan receivable of $30.6 million with a maturity date of September 2017 was repaid in full.