SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE

12 Months Ended

Dec. 31, 2024

SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE

Schedule IV MORTGAGE LOANS ON REAL ESTATE

SCHEDULE IV

MORTGAGE LOANS ON REAL ESTATE

FOR THE YEAR ENDED DECEMBER 31, 2024

(In thousands)

There was a portfolio of five commercial loan investments and two preferred equity investments which are classified as a commercial loan investments as of December 31, 2024 (in thousands).

Description	Interest Rate	Final Maturity Date	Periodic Payment Terms	Prior Liens		Face Amount of Mortgages		Carrying Amounts of Mortgages (2)		Principal Amount of Loans Subject to Delinquent Principal or Interest
Preferred Investment – Watters Creek – Allen, TX	9.00%	April 2027	Monthly Interest Payments	$	—	$	30,000	$	29,987	$	—
Mortgage Note – Founders Square – Dallas, TX	8.75%	March 2026	Monthly Interest Payments		—		15,000		14,942		—
Promissory Note – Main Street – Daytona Beach, FL	7.00%	May 2033	Monthly Interest Payments		—		400		400		—
Construction Loan - Hypoluxo - Lake Worth, FL	11.00%	June 2026	Monthly Interest Payments		—		5,638		5,598		—
Series A Preferred Investment	14.00%	July 2029	Monthly Interest Payments		—		10,000		9,910		—
Mortgage Note - Rivana - Herndon, VA	11.00%	September 2027	Monthly Interest Payments		—		42,000		41,530		—
Construction Loan - Whole Foods - Forsyth, GA	12.15%	November 2027	Monthly Interest Payments		—		40,200		3,748		—
Totals				$	—	$	143,238	$	106,115	$	—
CECL Reserve									(1,072)
Total Commercial Loans and Investments								$	105,043

SCHEDULE IV

MORTGAGE LOANS ON REAL ESTATE

FOR THE YEAR ENDED DECEMBER 31, 2024 (continued)

(In thousands)

The following represents the activity within the Company’s commercial loans and investments segment for the years ended December 31, 2024, 2023, and 2022 (in thousands):

	2024		2023		2022
Balance at Beginning of Year	$	61,849	$	31,908	$	39,095
Additions During the Year:
New Mortgage Loans		63,273		32,711		53,282
Collection of Origination Fees		656		158		87
Accretion of Origination Fees (1)		276		137		174
Gain on Sale of Loans		—		—		807
Imputed Interest Over Rent Payments on Ground Lease Loan		—		—		97
Deductions During the Year:
Collection of Principal		(20,335)		(986)		(61,634)
Foreclosure		—		(1,452)		—
Impairment / CECL Reserve		(676)		(627)		—
Balance at End of Year	$	105,043	$	61,849	$	31,908

(1) Non-cash accretion of loan origination fees.

(2) The aggregate carrying amount of mortgages for Federal income tax purposes at December 31, 2024 totaled $107.2 million.