Quarterly report pursuant to Section 13 or 15(d)

Commercial Real Estate Loans Held-for-Investment Commercial Real Estate Loans Held-for-Investment (Notes)

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Commercial Real Estate Loans Held-for-Investment Commercial Real Estate Loans Held-for-Investment (Notes)
 3 Months Ended
Mar. 31, 2015
Receivables [Abstract]  
Commercial Real Estate Loans Held-for-Investment [Text Block]
Commercial Real Estate Loans Held-for-Investment
The Company is the sole certificate holder of a trust entity that holds a commercial real estate loan. The underlying loan held by the trust, which is consolidated on the Company’s condensed consolidated balance sheet, is classified as commercial real estate loans held-for-investment and carried at cost, net of any unamortized premiums or discounts, unless deemed impaired. See Note 3 - Variable Interest Entities for additional information regarding consolidation of the trust.
The following table presents the carrying value of the Company’s commercial real estate loans held-for-investment as of March 31, 2015 and December 31, 2014:
(in thousands)
March 31,
2015
 
December 31,
2014
Unpaid principal balance
$
45,900

 
$
—

Unamortized discount
(344
)
 
—

Carrying value
$
45,556

 
$
—



As of March 31, 2015, the Company’s commercial real estate loans held-for-investment were comprised of one newly-issued senior mezzanine commercial real estate loan with a two-year interest-only term. The Company evaluates each loan for impairment at least quarterly as described in Note 2 - Basis of Presentation and Significant Accounting Policies. As of March 31, 2015, the Company had not recorded any allowances for losses as it was not deemed probable that the Company will not be able to collect all amounts due according to the contractual terms of the loan. The Company did not hold any commercial real estate loans held-for-investment as of December 31, 2014.