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MORTGAGE AND OTHER NOTES RECEIVABLE
 12 Months Ended
Dec. 31, 2016
Mortgage and Other Notes Receivable [Abstract]  
MORTGAGE AND OTHER NOTES RECEIVABLE
MORTGAGE AND OTHER NOTES RECEIVABLE
Each of the Company's mortgage notes receivable is collateralized by either a first mortgage, a second mortgage or by an assignment of 100% of the partnership interests that own the real estate assets.  Other notes receivable include amounts due from tenants or government sponsored districts and unsecured notes received from third parties as whole or partial consideration for property or investments.  The Company reviews its mortgage and other notes receivable to determine if the balances are realizable based on factors affecting the collectability of those balances.  Factors may include credit quality, timeliness of required periodic payments, past due status and management discussions with obligors. 
Mortgage and other notes receivable consist of the following:
 
 
 
 
As of December 31, 2016
 
As of December 31, 2015
 
 
Maturity Date
 
Interest Rate
 
Balance
 
Interest Rate
 
Balance
Mortgages:
 
 
 
 
 
 
 
 
 
 
Columbia Place Outparcel
 
Feb 2022
 
5.00%
 
$
321

 
5.00%
 
$
342

One Park Place
 
May 2022
 
5.00%
 
1,194

 
5.00%
 
1,369

Village Square (1)
 
Mar 2018
 
3.75%
 
1,644

 
3.50%
 
1,685

Other (2)
 
Dec 2016 - Jan 2047
 
3.27% - 9.50%
 
2,521

 
2.93% - 9.50%
 
4,380

 
 
 
 
 
 
5,680

 
 
 
7,776

Other Notes Receivable:
 
 
 
 
 
 
 
 
 
 
ERMC (3)
 
Sep 2021
 
4.00%
 
3,500

 
—%
 
—

Horizon Group (4)
 
Jan 2017
 
7.00%
 
300

 
—%
 
—

Horizon Group (5)
 
N/A
 
—%
 
—

 
7.00%
 
3,096

RED Development Inc.
 
Oct 2023
 
5.00%
 
6,588

 
5.00%
 
7,366

Southwest Theaters LLC
 
Apr 2026
 
5.00%
 
735

 
—%
 
—

 
 
 
 
 
 
11,123

 
 
 
10,462

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
16,803

 
 
 
$
18,238

(1)
In May 2016, the mortgage note receivable related to Village Square was extended to March 2018. The interest rate increased from 3.5% to 3.75% for the period from April 2016 through March 2017, with an increase to a rate of 4.0% from April 2017 through the maturity date.
(2)
In conjunction with the foreclosure of Gulf Coast Town Center, the Company wrote off the $1,846 balance of a note receivable. The note bore interest at a rate of 6.32% and was due to mature in March 2017. The $1,100 note for The Promenade at D'Iberville with a maturity date of December 2016 is in default.
(3)
The Company received a $3,500 promissory note in conjunction with the redemption of the Company's 50% ownership interest in four consolidated subsidiaries. See Note 8 for more information.
(4)
In the first quarter of 2016, Mortgage Holdings, LLC, a subsidiary of the Company, entered into a $300 loan agreement with an affiliate of Horizon Group Properties, Inc., the Company's noncontrolling interest partner in the development of a new shopping center. Subsequent to December 31, 2016, the maturity date of the note receivable was extended to July 2017. See Note 19 for more information.
(5)
In the fourth quarter of 2015, Mortgage Holdings, LLC, a subsidiary of the Company, entered into a $5,280 loan agreement, with an affiliate of Horizon Group Properties, Inc., the Company's noncontrolling interest partner in an outlet center project. In May 2016, in conjunction with the formation of the Laredo joint venture (see Note 5), the Company contributed its interest in the note of $5,280 as a capital contribution to the joint venture.