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Other Real Estate Related and Other Investments (Tables)
 12 Months Ended
Dec. 31, 2022
Investments, All Other Investments [Abstract]  
Schedule of Other Real Estate Related Investments, at Fair Value
As of December 31, 2022 and 2021, the Company’s other real estate related investments, at fair value, consisted of the following (dollar amounts in thousands):
As of December 31, 2022
InvestmentFacility Count and Type
Principal Balance as of December 31, 2022
Book Value as of December 31, 2022
Book Value as of December 31, 2021
Weighted Average Contractual Interest RateMaturity Date
Senior mortgage secured loan receivable
18 SNF/Campus
$75,000 $72,543 $— 8.4 %(1)6/30/2027
Mortgage secured loan receivable
5 SNF
22,250 21,345 — 10.2 %(2)8/1/2025
Mortgage secured loan receivable
4 SNF
24,900 23,796 — 9.0 %(2)9/8/2025
Mezzanine loan receivable
9 SNF
15,000 14,672 15,155 12.0 %11/30/2025
Mezzanine loan receivable
18 SNF/Campus
25,000 24,012 — 11.0 %6/30/2032
Total$162,150 $156,368 $15,155 
(1)    Rate is net of subservicing fee.
(2)    Term secured overnight financing rate (“SOFR”) used as of December 31, 2022 was 4.33%. Rates are net of subservicing fees.
Schedule of Other Real Estate Related Investment Activity
The following table summarizes the Company’s other real estate related investments activity for the year ended December 31, 2022 and 2021 (dollars in thousands):
For the Year Ended December 31,
2022
2021
Origination of other real estate related investments$147,150 $— 
Accrued interest, net1,165 155 
Unrealized loss on other real estate related investments(7,102)— 
Net increase in other real estate related investments, at fair value$141,213 $155 
As of December 31, 2022 and 2021, the Company’s other loans receivable, included in prepaid expenses and other assets, net on the Company’s consolidated balance sheets, consisted of the following (dollars in thousands):
As of December 31, 2022
Investment
Principal Balance as of December 31, 2022
Book Value as of December 31, 2022
Book Value as of December 31, 2021
Weighted Average Contractual Interest RateMaturity Date
Other loans receivable$9,596 $9,600 $3,161 8.5 %9/1/2023 - 9/30/2025
Expected credit loss— (2,094)— 
Total$9,596 $7,506 $3,161 
Schedule of Loan Receivable Activity
The following table summarizes the Company’s other loans receivable activity for the year ended December 31, 2022 and 2021 (dollars in thousands):
For the Year Ended December 31,
2022
2021
Origination of loans receivable$14,500 $1,253 
Principal payments(6,307)(393)
Accrued interest, net(4)(6)
Provision for loan losses, net(3,844)— 
Net increase in other loans receivable$4,345 $854 
Schedule of Interest and Other Income
The following table summarizes the interest and other income recognized from the Company’s loans receivable and other investments during the years ended December 31, 2022, 2021 and 2020 (dollar amounts in thousands):
For Year Ended December 31,
Investment202220212020
Mortgage secured loans receivable$4,853 $— $2,044 
Mezzanine loans receivable3,489 1,825 305 
Preferred equity investments(1)
— — 24 
Other284 331 270 
Total$8,626 $2,156 $2,643 
(1)    As of December 31, 2022 and 2021, the Company had no preferred equity investments