SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE

12 Months Ended

Dec. 31, 2018

Mortgage Loans On Real Estate [Abstract]

SCHEDULE IV-MORTGAGE LOANS ON REAL ESTATE

Description	Effective Interest Rate	Final Maturity Date	Face Amount of Notes Receivable		Net Carrying Amount of Notes Receivable as of December 31, 2018
First Mortgage Loan	6.0%	4/30/2020	$	15,000	$	17,802
First Mortgage Loan	8.1%	4/30/2019		153,400		38,673
Zero Coupon Loan	2.5%	5/31/2020		29,793		32,582
Mezzanine Loan	18.0%	7/1/2020		3,007		5,306
Preferred Equity	15.3%	2/3/2021		14,000		15,250
Total			$	215,200	$	109,613

The Company monitors the credit quality of its notes receivable on an ongoing basis and considers indicators of credit quality such as loan payment activity, the estimated fair value of the underlying collateral, the seniority of the Company's loan in relation to other debt secured by the collateral, the personal guarantees of the borrower and the prospects of the borrower.

The following table reconciles the activity for loans on real estate from January 1, 2016 to December 31, 2018 (in thousands):

	Reconciliation of Loans on Real Estate
	Year Ended December 31,
	2018			2017			2016
Balance at beginning of year	$	153,829		$	276,163		$	147,188
Additions		3,805			11,371			171,794
Repayments		(26,000	)		(32,000	)		(42,819	)
Conversion to real estate through receipt of deed		(22,021	)		(101,705	)		—
Balance at end of year	$	109,613		$	153,829		$	276,163