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Mortgage and Other Notes Receivable
 9 Months Ended
Sep. 30, 2017
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 believes that its mortgage and other notes receivable balance is collectable as of September 30, 2017.
Mortgage and other notes receivable consist of the following:
 
 
 
 
As of September 30, 2017
 
As of December 31, 2016
 
 
Maturity
Date
 
Interest
Rate
 
Balance
 
Interest
Rate
 
Balance
Mortgages:
 
 
 
 
 
 
 
 
 
 
Columbia Place Outparcel
 
Feb 2022
 
5.00%
 
$
307

 
5.00%
 
$
321

Gulf Coast Town Center - Phase III (1)
 
Jan 2018
 
5.00%
 
4,118

 
—%
 
—

The Landing at Arbor Place Outparcel (2)
 
N/A
 
—%
 
—

 
—%
 
—

One Park Place
 
May 2022
 
5.00%
 
1,044

 
5.00%
 
1,194

Village Square
 
Mar 2018
 
4.00%
 
1,608

 
3.75%
 
1,644

Other (3)
 
Dec 2016 - Jan 2047
 
6.25% - 9.50%
 
2,512

 
3.27% - 9.50%
 
2,521

 
 
 
 
 
 
9,589

 
 
 
5,680

Other Notes Receivable:
 
 
 
 
 
 
 
 
 
 
ERMC
 
Sep 2021
 
4.00%
 
3,018

 
4.00%
 
3,500

Horizon Group (4)
 
N/A
 
—%
 
—

 
7.00%
 
300

RED Development Inc.
 
Oct 2023
 
5.00%
 
5,979

 
5.00%
 
6,588

Southwest Theaters
 
Apr 2026
 
5.00%
 
693

 
5.00%
 
735

 
 
 
 
 
 
9,690

 
 
 
11,123

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
19,279

 
 
 
$
16,803

(1)
In July 2017, the Company received a mortgage note receivable in return for loaning $4,118 to an unconsolidated affiliate to retire the loan secured by phase three of Gulf Coast Town Center, which was scheduled to mature in July 2017. See Note 5. Payments due are interest-only through the maturity date.
(2)
In the second quarter of 2017, the Company received a $1,802 mortgage note receivable as partial consideration for the sale of an outparcel at an associated center. The note was paid off in August 2017.
(3)
The $1,100 note for The Promenade at D'Ilberville with a maturity date of December 2016 is in default.
(4)
In January 2017, the maturity date was extended to July 2017. The loan was paid off in May 2017.