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Notes Receivable and Current Expected Credit Losses (Tables)
 9 Months Ended
Sep. 30, 2022
Receivables [Abstract]  
Summary of mezzanine loans
The Company had the following notes receivable outstanding as of September 30, 2022 and December 31, 2021 ($ in thousands):
Outstanding loan amount (a)
Interest compounding
Development ProjectSeptember 30,
2022		December 31,
2021		Maximum loan commitmentInterest rate
City Park 2$11,749 $— $20,594 13.0 %Annually
Interlock Commercial84,615 95,379 107,000 
(b)
15.0 %None
Nexton Multifamily25,532 23,567 22,315 11.0 %Annually
Total mezzanine & preferred equity121,896 118,946 $149,909 
Constellation Energy Building note receivable12,834 — 
Other notes receivable7,570 7,234 
Notes receivable guarantee premium1,024 1,243 
Allowance for credit losses(1,508)
(c)
(994)
Total notes receivable$141,816 $126,429 
________________________________________
(a) Outstanding loan amounts include any accrued and unpaid interest, as applicable.
(b) This amount includes interest reserves.
(c) The amount excludes $0.4 million of Current Expected Credit Losses ("CECL") allowance that relates to the unfunded commitments, which was recorded as a liability under Other liabilities in the consolidated balance sheet.
Summary of interest income The Company recognized interest income for the three and nine months ended September 30, 2022 and 2021 as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
Development Project2022202120222021
City Park 2$329 
(a)
$— $554 
(a)
$— 
Interlock Commercial2,363 
(a)
3,260 
(a)
7,550 
(a)
9,644 
(a)
Nexton Multifamily680 397 1,966 658 
Solis Apartments at Interlock— — — 4,005 
(b)
Total mezzanine3,372 3,657 10,070 14,307 
Other interest income118 109 340 321 
Total interest income$3,490 $3,766 $10,410 $14,628 
________________________________________
(a) Includes recognition of interest income related to fee amortization.
(b) Includes prepayment premium of $2.4 million from early payoff of the loan.
Allowance for credit losses on financing receivables Changes in the allowance for the three and nine months ended September 30, 2022 and 2021 were as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
 2022202120222021
Beginning balance $1,894 $2,129 $994 $2,584 
Unrealized credit loss provision (release)(42)(617)858 (284)
Extinguishment due to acquisition— — — (788)
Ending balance (a)
$1,852 $1,512 $1,852 $1,512 
________________________________________
(a) The amounts as of September 30, 2022 and 2021 include $0.4 million and $0.1 million, respectively, of allowance related to the unfunded commitments, which were recorded as Other liabilities on the consolidated balance sheet.