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LOANS RECEIVABLE AND OTHER INVESTMENTS (Tables)
 6 Months Ended
Jun. 30, 2023
Receivables [Abstract]  
Schedule of Loans Receivable and Other Investments
As of June 30, 2023 and December 31, 2022, the Company’s loans receivable and other investments consisted of the following (dollars in thousands):
As of June 30, 2023
Investment
Quantity
as of
June 30, 2023
Property Type
Principal Balance
as of
June 30, 2023 (1)
Book Value
as of
June 30, 2023
Book Value
as of December 31, 2022
Weighted Average Contractual Interest Rate / Rate of ReturnWeighted Average Annualized Effective Interest Rate / Rate of Return
Maturity Date
as of
June 30, 2023
Loans Receivable:
Mortgage2 Behavioral Health$319,000 $319,000 $319,000 7.6 %7.6 %11/01/26 - 01/31/27
Other11 Multiple52,538 49,116 47,936 7.5 %7.0 %08/31/23 - 05/01/29
13 371,538 368,116 366,936 7.6 %7.6 %
Allowance for loan losses— (6,832)(6,611)
$371,538 $361,284 $360,325 
Other Investments:
Preferred Equity5 Skilled Nursing / Senior Housing55,581 55,735 51,071 10.9 %10.9 %N/A
Total 18 $427,119 $417,019 $411,396 8.1 %8.0 %
(1)    Principal balance includes amounts funded and accrued but unpaid interest / preferred return and excludes capitalizable fees.
Schedule of Additional Information Regarding the Company's Loans Receivable
Additional information regarding the Company’s loans receivable is as follows (dollars in thousands):
Six Months Ended June 30,
20232022
Allowance for loan losses:
Balance at beginning of the period$6,611 $6,344 
Provision for loan losses221 268 
Balance at end of the period$6,832 $6,612 
June 30, 2023December 31, 2022
Deteriorated credit quality:
Number of loans receivable investments1 1 
Principal balance$1,214 $1,214 
Book value— — 
Nonaccrual status:
Number of loans receivable investments3 3 
Book value$— $—