Investments in Loans (Tables)

6 Months Ended

Jun. 30, 2024

Receivables [Abstract]

Schedule of Loans Receivable and Investments

A.	Accounts receivable, net, consist of the following at:	June 30, 2024		December 31, 2023
	Straight-line rent receivables, net	$	612,934	$	516,692
	Client receivables, net	175,705		193,844
		$	788,639	$	710,536

The following table presents information about our loans as of June 30, 2024 and December 31, 2023 (dollars in thousands):

	June 30, 2024
	Amortized Cost		Allowance (1)		Carrying Amount (2)
Senior Secured Notes Receivable (3)	$	559,580	$	(7,945)	$	551,635
Mortgage Loans	33,500		—		33,500
Unsecured Loan	9,948		(1,035)		8,913
Total	$	603,028	$	(8,980)	$	594,048
	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 six months ended June 30, 2024, our allowance for credit losses increased by $6.5 million, attributable to the loans we acquired in conjunction with our merger with Spirit and another senior secured note we acquired in May 2024.

(2) The total carrying amount of the investment in loans excludes accrued interest of $9.4 million and $3.4 million as of June 30, 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 $4.6 million. Since it was a purchased credit deteriorated loan, we recorded the initial expected credit loss of $1.8 million by adjusting the amortized cost basis.