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SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE
 12 Months Ended
Dec. 31, 2024
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]  
SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE
SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE
December 31, 2024
(Dollars in thousands)

LocationInterest RateFixed / VariableMaturity DatePeriodic Payment TermsPrior LiensFace Amount of Mortgages
Carrying Amount of Mortgages (1)
Principal Amount of Loans Subject to Delinquent Principal or Interest
First mortgage relating to two senior housing properties located in:
Texas
Lesser of 9.50% or Term SOFR plus 5.00%
Variable6/16/2025
Interest only (3)
$— $8,000 $8,000 $— 
First mortgage relating to one senior housing property located in:
Illinois
Greater of 9.00% or Term SOFR plus 4.50%
Variable2/15/2026
Interest only
— 1,285 1,277 — 
First mortgage relating to two senior housing properties located in:
Tennessee
Greater of 9.00% or Term SOFR plus 4.50%
Variable4/23/2026
Interest only
— 3,150 3,100 — 
First mortgage relating to two senior housing properties located in:
South Carolina
Greater of 9.00% or Term SOFR plus 4.50%
Variable5/21/2026
Interest only
— 3,150 3,095 — 
First mortgage relating to one senior housing property located in:
Washington
Greater of 10.25% or Term SOFR plus 5.75%
Variable9/20/2027
Interest only (4)
— 109,000 108,022 — 
First mortgage relating to one senior housing property located in:
Pennsylvania
Term SOFR plus 3.75%
Variable11/4/2027
Interest and principal; $19.2M balloon due at maturity (2)
— 19,978 19,978 — 
Total$— $144,563 $143,472 $— 
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(1)     For Federal income tax purposes, the aggregate cost of investments in mortgage loans on real estate is the carrying amount, as disclosed in the schedule.
(2)     A prepayment premium of 0% to3% is assessed on the outstanding principal balance depending on timing of prepayment and source of funds.
(3)     This loan was originally scheduled to mature on June 16, 2024 and was extended to mature on June 15, 2025.
(4)     A prepayment premium consisting of accelerated interest charged on the prepaid amount is assessed, as of the date of the prepayment, at the greater of the contract rate and the term SOFR forward curve through September 30, 2026. An exit fee is assessed at 1%of the amount of principal prepaid.

Reconciliation of Mortgage Loans:

Year Ended December 31,
202420232022
Beginning Balance$26,087 $491,334 $486,200 
Additions:
New loans (1)
115,359 — 25,247 
Construction draws2,100 835 — 
Total additions117,459 835 25,247 
Deductions:
Principal repayments(74)— (113)
Conversions to real property
— (486,082)— 
Allowance— 20,000 (20,000)
Total deductions(74)(466,082)(20,113)
Effect of foreign currency translation — — — 
Ending Balance$143,472 $26,087 $491,334 
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(1)     New loans include $7.5 million received as non-cash consideration for properties sold in 2024.