LOANS RECEIVABLE AND INVESTMENTS

9 Months Ended

Sep. 30, 2024

NOTE 6—LOANS RECEIVABLE AND INVESTMENTS

As of September 30, 2024 and December 31, 2023, we held $168.6 million and $54.1 million, respectively, of loans receivable and investments, net of allowance, relating to senior housing and healthcare operators or properties. The following is a summary of our loans receivable and investments, net, including amortized cost, fair value and unrealized gains or losses on available for sale investments, if applicable (dollars in thousands):


	Amortized Cost		Allowance		Carrying Amount		Fair Value
As of September 30, 2024:
Secured/mortgage loans and other, net (1)	$	144,797	$	—	$	144,797	$	145,905


Non-mortgage loans receivable, net (2)	27,564		(3,810)		23,754		22,895

Total loans receivable and investments, net	$	172,361	$	(3,810)	$	168,551	$	168,800

As of December 31, 2023:
Secured/mortgage loans and other, net (1)	$	27,986	$	—	$	27,986	$	27,947
Non-mortgage loans receivable, net (2)	30,128		(3,976)		26,152		25,200
Total loans receivable and investments, net	$	58,114	$	(3,976)	$	54,138	$	53,147

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(1)Investments have contractual maturities ranging from 2024 to 2027.

(2)Included in other assets on our Consolidated Balance Sheets.

In September 2024, we provided new secured debt financing of $109.0 million to the owner of a senior housing property, secured by the asset and with additional credit support. The loan provides us with a right of first offer to purchase the asset on certain terms and conditions. The loan has a 3-year term and bears interest at a floating rate based on one-month SOFR, subject to a floor of 4.50%, plus a spread of 5.75%, increasing to 6.00% commencing on the first-year anniversary of the loan.