LOANS RECEIVABLE AND OTHER INVESTMENTS

9 Months Ended

Sep. 30, 2023

As of September 30, 2023 and December 31, 2022, the Company’s loans receivable and other investments consisted of the following (dollars in thousands):


									As of September 30, 2023
Investment	Quantity as of September 30, 2023	Property Type	Principal Balance as of September 30, 2023 (1)		Book Value as of September 30, 2023		Book Value as of December 31, 2022		Weighted Average Contractual Interest Rate / Rate of Return		Weighted Average Annualized Effective Interest Rate / Rate of Return		Maturity Date as of September 30, 2023
Loans Receivable:
Mortgage	2	Behavioral Health	$	319,000	$	319,000	$	319,000	7.6	%	7.6	%	11/01/26 - 01/31/27




Other	10	Multiple	52,133		48,703		47,936		7.5	%	7.0	%	08/31/23 - 05/01/29
	12		371,133		367,703		366,936		7.6	%	7.6	%
Allowance for loan losses			—		(6,677)		(6,611)
			$	371,133	$	361,026	$	360,325
Other Investments:
Preferred Equity	5	Skilled Nursing / Senior Housing	56,760		56,921		51,071		11.0	%	11.0	%	N/A
Total	17		$	427,893	$	417,947	$	411,396	8.1	%	8.0	%

(1) Principal balance includes amounts funded and accrued but unpaid interest / preferred return and excludes capitalizable fees.

Additional information regarding the Company’s loans receivable is as follows (dollars in thousands):


	Nine Months Ended September 30,
	2023		2022
Allowance for loan losses:
Balance at beginning of the period	$	6,611	$	6,344
Provision for loan losses	549		83
Write-off of uncollectible balances	(483)		—
Balance at end of the period	$	6,677	$	6,427

	September 30, 2023		December 31, 2022
Deteriorated credit quality:
Number of loans receivable investments	1		1
Principal balance	$	1,214	$	1,214
Book value	—		—
Nonaccrual status:
Number of loans receivable investments	3		3
Book value	$	—	$	—

As of September 30, 2023 and December 31, 2022, the Company did not consider any preferred equity investments to be impaired, and no preferred equity investments were on nonaccrual status.