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Loans Receivable (Tables)
 9 Months Ended
Sep. 30, 2025
Receivables [Abstract]  
Summary of Real Estate Loans Receivable
The following is a summary of our loans receivable as of the dates indicated (in thousands):
 September 30, 2025December 31, 2024
Mortgage loans$1,631,292 $1,540,437 
Other real estate loans165,777 290,438 
Allowance for credit losses on real estate loans receivable(23,281)(25,831)
Real estate loans receivable, net of credit allowance1,773,788 1,805,044 
Non-real estate loans617,872 230,508 
Allowance for credit losses on non-real estate loans receivable(9,189)(7,966)
Non-real estate loans receivable, net of credit allowance608,683 222,542 
Total loans receivable, net of credit allowance$2,382,471 $2,027,586 
Summary of Real Estate Loan Activity
The following is a summary of our loan activity for the periods presented (in thousands):    
 Nine Months Ended
 September 30, 2025September 30, 2024
Advances on loans receivable$436,629 $603,619 
Less: Receipts on loans receivable208,136 250,791 
Net cash advances (receipts) on loans receivable$228,493 $352,828 
Summary of Financing Receivable, Allowance for Credit Loss The following is a summary of our loans by credit loss category (in thousands):
September 30, 2025
Loan categoryYears of OriginationLoan Carrying ValueAllowance for Credit LossNet Loan BalanceNo. of Loans
Deteriorated loans(1)
2007 - 2019$120,863 $(8,523)$112,340 5 
Collective loan pool2010 - 202039,450 (461)38,989 11 
Collective loan pool2021926,938 (10,944)915,994 7 
Collective loan pool202299,819 (1,166)98,653 13 
Collective loan pool2023308,278 (3,600)304,678 8 
Collective loan pool2024515,829 (6,023)509,806 10 
Collective loan pool2025403,764 (1,753)402,011 10 
Total loans$2,414,941 $(32,470)$2,382,471 64 
(1) Interest recognized on loans classified as deteriorated loans as of the end of the respective reporting period was $4,698,000 and $9,320,000, for the three and nine months ended September 30, 2025, respectively.
The following is a summary of the activity within the allowance for credit losses on loans receivable for the periods presented (in thousands):
Nine Months Ended
September 30, 2025September 30, 2024
Balance at beginning of period$33,797 $194,463 
Provision for loan losses, net(2,032)10,370 
Loan write-offs(71)(151,406)
Effect of foreign currency776 502 
Balance at end of period$32,470 $53,929