LOANS RECEIVABLE AND INVESTMENTS

3 Months Ended

Mar. 31, 2025

NOTE 6—LOANS RECEIVABLE AND INVESTMENTS

As of March 31, 2025, and December 31, 2024, we held $170.8 million and $173.0 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 March 31, 2025:
Secured loans receivable and investments, net (1)	$	145,184	$	—	$	145,184	$	146,113


Non-mortgage loans receivable, net (2)	29,453		(3,810)		25,642		25,276

Total loans receivable and investments, net	$	174,637	$	(3,810)	$	170,826	$	171,389
As of December 31, 2024:
Secured loans receivable and investments, net (1)	$	144,872	$	—	$	144,872	$	146,229
Non-mortgage loans receivable, net (2)	31,939		(3,810)		28,129		27,640
Total loans receivable and investments, net	$	176,811	$	(3,810)	$	173,001	$	173,869

______________________________

(1)Investments have contractual maturities ranging from 2025 to 2027.

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