COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Schedule of Commitments and Contingencies

The table below summarizes the Company’s existing, known commitments and contingencies as of December 31, 2025 (dollars in thousands):

	Remaining Commitment
Capital expenditures(1)	$	6,240
Mortgage loans	3,766
Other loans receivable(2)	11,751
Earn-out obligation(3)	45,195
	$	66,952

(1)As of December 31, 2025, the Company had committed to fund expansions, construction, capital improvements and ESG incentives at certain triple-net leased properties totaling $6.2 million, of which $5.1 million is subject to rent increase at the time of funding.

(2)Represents non-real estate secured loan commitments.

(3)Includes earn‑out obligations of up to $42.5 million related to acquisitions completed in 2024 and 2025. This consists of (i) up to $10.0 million under a purchase and sale agreement for one SNF in Virginia acquired in 2024, with the earn‑out payable upon the operator’s achievement of specified performance thresholds from October 2025 through October 2026, and (ii) up to $32.5 million under a purchase and sale agreement for five skilled nursing facilities in Virginia, North Carolina, and Maryland acquired in 2025, with the earn‑out payable upon the operator’s achievement of specified performance thresholds from December 2026 through December 2028.