Investments in Loans (Tables)

3 Months Ended

Mar. 31, 2024

Receivables [Abstract]

Schedule of Loans Receivable and Investments

A.	Accounts receivable, net, consist of the following at:	March 31, 2024		December 31, 2023
	Straight-line rent receivables, net	$	563,589	$	516,692
	Client receivables, net	225,655		193,844
		$	789,244	$	710,536

The following table presents information about our loans as of March 31, 2024 and December 31, 2023 (dollars in thousands):

	March 31, 2024
	Amortized Cost		Allowance (1)		Carrying Amount (2)
Senior Secured Notes Receivable (3)	$	182,121	$	(3,700)	$	178,421
Mortgage Loans	66,277		—		66,277
Unsecured Loan	9,763		(1,035)		8,728
Total	$	258,160	$	(4,735)	$	253,426
	December 31, 2023
	Amortized Cost		Allowance (1)		Carrying Amount (2)
Senior Secured Note Receivable	$	174,337	$	(2,498)	$	171,839
Mortgage Loan	33,500		—		33,500
Total	$	207,837	$	(2,498)	$	205,339

(1) During the three months ended March 31, 2024, our allowance for credit losses increased by $2.2 million, almost entirely attributable to the loans we acquired in conjunction with our merger with Spirit.

(2) The total carrying amount of the investment in loans excludes accrued interest of $8.7 million and $3.4 million as of March 31, 2024 and December 31, 2023, respectively, which is recorded to 'Other assets, net' on our consolidated balance sheets.

(3) Includes a loan acquired in conjunction with our merger with Spirit with an estimated acquisition date fair value of $7.8 million. Since it was a purchased credit deteriorated loan, we recorded the initial expected credit loss of $1.0 million by adjusting the amortized cost basis.