DEFERRED REVENUE

12 Months Ended

Dec. 31, 2024

DEFERRED REVENUE

DEFERRED REVENUE

NOTE 19.       DEFERRED REVENUE

Deferred revenue consisted of the following (in thousands):  

	As of
	December 31, 2024		December 31, 2023
Prepaid Rent	$	3,698	$	3,723
Interest Reserve from Commercial Loans and Investments		6,067		744
Tenant Contributions		418		733
Total Deferred Revenue	$	10,183	$	5,200

Interest Reserve from Commercial Loans and Investments. In connection with five of the Company’s commercial loan investments, the borrower has deposited interest and/or real estate tax reserves in accounts held by the Company. Those accounts balances are included in restricted cash on the Company’s consolidated balance sheets with the corresponding liability recorded in deferred revenue as seen above. Pursuant to each respective agreement, interest reserves are either (i) utilized to fund the monthly interest due on the loan or (ii) maintained throughout the term of the loan.