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Schedule IV: Mortgage Loans Receivable on Real Estate
 12 Months Ended
Dec. 31, 2025
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]  
Schedule IV: Mortgage Loans Receivable on Real Estate
Schedule IV: Mortgage Loans Receivable on Real Estate
(in thousands)
LocationSegmentInterest RateFixed / VariableMaturity DatePeriodic Payment TermsPrior LiensFace Amount of MortgagesCarrying Amount of MortgagesPrincipal Amount Subject to Delinquent Principal or Interest
First mortgages relating to 61 properties:
MultipleOther6.00 %Fixed
7/19/2026(3)
Interest only$— $418,389 $405,399 $— 
First mortgage relating to one property:
AlabamaOther10.00 %Fixed6/30/2026(1)— 35,752 35,099 — 
First mortgage relating to one property:
CaliforniaOther8.00 %Fixed
1/31/2029(4)
Interest only— 31,448 31,491 — 
Construction loan relating to one property:
ArizonaOther
7.47%
Fixed
2/6/2027(5)
Interest only
— 42,233 39,771 — 
Other first mortgages each individually less than 3% of total carrying amount:
Various(6)
Other
8.00% to 10.00%
Fixed6/30/2026 to 9/30/2028(2)— 40,155 38,784 — 
Other construction loans each individually less than 3% of total carrying amount:
Texas(7)
Other8.00 %Fixed
3/31/2028(8) to 12/20/2028(9)
Interest only
— 15,483 15,176 — 
$— $583,460 $565,720 $— 
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(1)A portion of interest is due monthly with remaining interest added to the outstanding principal balance.
(2)Includes both (i) loans that are interest only or (ii) loans in which a portion of interest is due monthly with remaining interest added to the outstanding principal balance.
(3)This loan includes options to extend the maturity date to July 19, 2028.
(4)This loan includes options to extend the maturity date to January 31, 2030.
(5)This loan includes an option to extend the maturity date to May 5, 2028.
(6)Includes various first mortgages each related to one property in Florida, Georgia, Texas, and Tennessee.
(7)Includes various construction loans each related to one property in Texas.
(8)This loan includes an option to extend the maturity date to March 31, 2030.
(9)This loan includes an option to extend the maturity date to December 20, 2029.
 Year Ended December 31,
 202520242023
Reconciliation of mortgage loans
Balance at beginning of year$612,784 $175,717 $341,749 
Additions:
New mortgage loans
48,383 486,667 — 
Draws and additions to existing mortgage loans46,064 30,745 11,602 
Total additions94,447 517,412 11,602 
Deductions:
Principal repayments(140,458)(77,643)(183,084)
Recoveries (reserves) for loan losses(1)
(1,053)(2,702)5,450 
Total deductions(141,511)(80,345)(177,634)
Balance at end of year$565,720 $612,784 $175,717 
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(1)Excludes reserves and recoveries for expected loan losses associated with unfunded loan commitments which are included in accounts payable, accrued liabilities, and other liabilities on the Consolidated Balance Sheets.