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LOANS RECEIVABLE AND OTHER INVESTMENTS
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
LOANS RECEIVABLE AND OTHER INVESTMENTS LOANS RECEIVABLE AND OTHER INVESTMENTS
As of December 31, 2024 and 2023, the Company’s loans receivable and other investments consisted of the following (dollars in thousands):
As of December 31, 2024
Investment
Quantity
as of
December 31, 2024
Property Type
Principal Balance as of December 31, 2024 (1)
Book Value
as of
December 31, 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
December 31, 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 Multiple55,410 51,962 50,440 7.9 %7.5 %05/01/25 - 08/31/33
14 391,010 387,562 369,440 7.8 %7.7 %
Allowance for loan losses— (6,094)(6,665)
$391,010 $381,468 $362,775 
Other Investments:
Preferred Equity5 Skilled Nursing / Senior Housing60,915 61,116 57,849 11.0 %11.0 %N/A
Total19 $451,925 $442,584 $420,624 8.2 %8.2 %
(1)    Principal balance includes amounts funded and accrued but unpaid interest / preferred return and excludes capitalizable fees.
As of December 31, 2024, the Company has committed to provide up to $1.4 million of future funding related to two loan receivable investments.
Additional information regarding the Company’s loans receivable is as follows (dollars in thousands):
Year Ended December 31,
202420232022
Allowance for loan losses:
Balance at the beginning of the year$6,665 $6,611 $6,344 
(Recovery of) provision for loan losses(571)191 267 
Write-off of uncollectible balances— (137)— 
Balance at the end of the year$6,094 $6,665 $6,611 
As of December 31,
20242023
Deteriorated credit quality:
Number of loans receivable investments1 1 
Principal balance$1,214 $1,214 
Book value— — 
Nonaccrual status:
Number of loans receivable investments3 3 
Book value$— $— 
As of December 31, 2024 and 2023, the Company did not consider any preferred equity investments to be impaired, and no preferred equity investments were on nonaccrual status.