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Schedule IV - Mortgage Loans on Real Estate
 12 Months Ended
Dec. 31, 2023
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]  
Schedule IV - Mortgage Loans on Real Estate
DescriptionContractual Interest RateMaturity DatePeriodic Payment TermsPrior LiensPrincipal Balance
Book Value (1)
Carrying Amount of Loans Subject to Delinquent Principal or Interest
Mortgage Secured Loans:
West Virginia (18 SNF facilities)
8.4 %2027
(3)
$482,000 
(4)
$75,000 $68,913 N/A
California (4 SNF facilities)
10.7 %
(2)
2025
(3)
28,112 
(5)
11,713 11,501 N/A
Georgia (4 SNF facilities)
9.0 %
(2)
2025
(3)
72,700 
(5)
24,900 22,962 N/A
Florida (2 SNF facilities)
9.0 %2028
(3)
— 15,727 15,399 N/A
California (3 SNF facilities)
12.0 %2026
(3)
30,294 
(6)
3,564 3,439 N/A
Indiana (1 ALF facility)
9.0 %2024
(3)
— 2,000 2,016 N/A
California (2 SNF Campus & ILF facility)
9.0 %2033
(3)
— 25,993 26,194 N/A
California (1 ALF facility)
9.9 %2026
(3)
— 6,300 6,345 N/A
Mezzanine Loans:
West Virginia (18 SNF facilities)
11.0 %2032
(3)
557,000 
(4)
25,000 21,799 N/A
$1,170,106 $190,197 $178,568 
(1)The aggregate cost for federal income tax purposes was $190.2 million as of December 31, 2023.
(2)Interest rates are variable and represent the rate in effect as of December 31, 2023.
(3)Interest is due monthly, and principal is due at the maturity date.
(4)The secured term loan was structured with an “A” tranche, a “B” tranche, and a “C” tranche, with the “C” tranche being the most subordinate. The Company’s loan constituted the entirety of the “C” tranche. The Company also extended a mezzanine loan to the borrower group. Accordingly, the amounts of the prior liens at December 31, 2023 are estimated.
(5)The secured term loan was structured with an “A” and a “B” tranche, with the “B” tranche being subordinate to the “A” tranche pursuant to the terms of a written agreement between the lenders. The Company’s loan constituted the entirety of the “B” tranche. Accordingly, the amounts of the prior liens at December 31, 2023 are estimated.
(6)The first mortgage loans on these properties are not held by the Company. Accordingly, the amounts of the prior liens at December 31, 2023 are estimated.
Changes in mortgage secured and mezzanine loans are summarized as follows (in thousands):
Year Ended December 31,
202320222021
Balance at beginning of period$156,368 $15,155 $15,000 
Additions during period:
New mortgage and mezzanine loans53,834 147,150 — 
Interest income added to principal388 1,165 155 
Deductions during period:
Paydowns/Repayments(25,537)— — 
Unrealized losses, net(6,485)(7,102)— 
Balance at end of period$178,568 $156,368 $15,155