Restricted Cash and Equivalents

3 Months Ended

Mar. 31, 2025

Cash and Cash Equivalents [Abstract]

Restricted Cash and Equivalents

NOTE 3. Restricted Cash and Equivalents

The following table presents the Company’s restricted cash and equivalents and escrow deposits:

	March 31,		December 31,
	2025		2024
	(amounts in $000’s)
Escrow with Trustee	$	1,830	$	16,609
MIP escrow accounts		975		688
Other escrow and debt deposits		270		270
Property tax and insurance escrow		5,405		7,228
Interest and expense reserve bonds escrow		8,068		8,225
HUD replacement reserves		12,224		12,263
Total restricted cash and equivalents	$	28,772	$	45,283

Escrow with trustee - The Company transfers funds to the trustee for its Series A, C and D bonds to cover principal and interest payments prior to the payment date.

MIP escrow accounts - The Company is required to make monthly escrow deposits for mortgage insurance premiums on the HUD guaranteed mortgage loans.

Other escrow and debt deposits – The Company funds various escrow accounts under certain of its loan agreements, primarily to cover debt service on underlying loans.

Property tax and insurance escrow - The Company funds escrows for real estate taxes and insurance under certain of its loan agreements.

Interest and expense reserve bonds escrow - The indentures for the series A, C, and D Bonds require the funding of a six-month interest reserve as well as an expense reserve. See Note 7 – Bonds, Notes Payable and Other Debt.

HUD replacement reserves - The Company is required to make monthly payments into an escrow for replacement and improvement of the project assets covered by HUD guaranteed mortgage loans. A portion of the replacement reserves are required to be maintained until the applicable loan is fully paid.