XML 39 R28.htm IDEA: XBRL DOCUMENT v3.24.2.u1
LOANS RECEIVABLE AND OTHER INVESTMENTS (Tables)
 6 Months Ended
Jun. 30, 2024
Receivables [Abstract]  
Schedule of Loans Receivable and Other Investments
As of June 30, 2024 and December 31, 2023, the Company’s loans receivable and other investments consisted of the following (dollars in thousands):
As of June 30, 2024
Investment
Quantity
as of
June 30, 2024
Property Type
Principal Balance
as of
June 30, 2024 (1)
Book Value
as of
June 30, 2024
Book Value
as of December 31, 2023
Weighted Average Contractual Interest Rate / Rate of ReturnWeighted Average Annualized Effective Interest Rate / Rate of Return
Maturity Date
as of
June 30, 2024
Loans Receivable:
Mortgage3 Behavioral Health /
Skilled Nursing		$335,600 $335,600 $319,000 7.7 %7.7 %11/01/26 - 06/01/29
Other11 Multiple55,890 52,453 50,440 7.8 %7.5 %10/01/23 - 05/01/29
14 391,490 388,053 369,440 7.8 %7.7 %
Allowance for loan losses— (6,367)(6,665)
$391,490 $381,686 $362,775 
Other Investments:
Preferred Equity5 Skilled Nursing / Senior Housing57,141 57,329 57,849 10.8 %10.8 %N/A
Total 19 $448,631 $439,015 $420,624 8.1 %8.1 %
(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,
20242023
Allowance for loan losses:
Balance at beginning of the period$6,665 $6,611 
(Recovery of) provision for loan losses(298)221 
Balance at end of the period$6,367 $6,832 
June 30, 2024December 31, 2023
Deteriorated credit quality:
Number of loans receivable investments1 1 
Principal balance$1,214 $1,214 
Book value— — 
Nonaccrual status:
Number of loans receivable investments3 3 
Book value$— $—