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Loans Receivable
 6 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Loans Receivable Loans Receivable
At June 30, 2025 and December 31, 2024, loans receivable were as follows:
(In thousands)June 30,
2025		December 31,
2024
Amortized cost (net of allowance for expected credit losses):
Real estate loans$320,309 $402,382 
Commercial loans4,056 3,071 
Total$324,365 $405,453 
Fair value:
Real estate loans$320,643 $402,177 
Commercial loans4,056 3,071 
Total$324,699 $405,248 
The real estate loans are secured by commercial and residential real estate primarily located in the U.K. and New York. These loans generally earn interest at fixed or stepped interest rates and have maturities through 2028. The commercial loans are with small business owners who have secured the related financing with the assets of the business. Commercial loans primarily earn interest on a fixed basis and have varying maturities generally not exceeding five years.
The following table presents the rollforward of the allowance for expected credit losses for loans receivable for the six months ended June 30, 2025 and 2024:
20252024
(In thousands)Real Estate LoansCommercial LoansTotalReal Estate LoansCommercial LoansTotal
Balance, beginning of period$1,088 $26 $1,114 $2,983 $21 $3,004 
Change in expected credit losses(754)9 (745)(1,190)(1)(1,191)
Balance, end of period$334 $35 $369 $1,793 $20 $1,813 
During six months ended June 30, 2025, the Company decreased the allowance for expected credit losses due to the redemption of one loan and a decrease in the weighted average life of the remaining loan portfolio. During the six months ended June 30, 2024, the Company decreased the allowance for expected credit losses due to a decrease in the weighted average life of the loan portfolio.
The following table presents the rollforward of the allowance for expected credit losses for loans receivable for the three months ended June 30, 2025 and 2024:
20252024
(In thousands)Real Estate LoansCommercial LoansTotalReal Estate LoansCommercial LoansTotal
Balance, beginning of period$776 $12 $788 $2,587 $22 $2,609 
Change in expected credit losses(442)23 (419)(794)(2)(796)
Balance, end of period$334 $35 $369 $1,793 $20 $1,813 
The Company monitors the performance of its loans receivable and assesses the ability of the borrower to pay principal and interest based upon loan structure, underlying property values, cash flow and related financial and operating performance of the property and market conditions.
    In evaluating the real estate loans, the Company considers their credit quality indicators, including loan to value ratios, which compare the outstanding loan amount to the estimated value of the property, the borrower’s financial condition and
performance with respect to loan terms, the position in the capital structure, the overall leverage in the capital structure and other market conditions.