Notes Receivable, Net (Tables)

12 Months Ended

Dec. 31, 2024

Accounts and Financing Receivable, after Allowance for Credit Loss [Abstract]

Schedule of Notes Receivable

The Company’s notes receivable, net are generally collateralized either by the underlying properties or the borrowers’ ownership interests in the entities that own the properties, and were as follows (dollars in thousands):

	December 31,			December 31,			December 31, 2024
Description	2024			2023			Number		Maturity Date	Interest Rate
Notes receivable (a)	$	128,588		$	126,228			6	Apr 2020 - Dec 2027	6.00% - 12.00%
Allowance for credit losses		(2,004	)		(1,279	)
Notes receivable, net	$	126,584		$	124,949			6

(a)Included one note receivable from an OP Unit holder, with a balance of $6.0 million as of December 31, 2023. The note was paid off in the first quarter of 2024.

Schedule of Changes in the Company's Credit Allowance

Changes in the Company’s credit allowance were as follows (dollars in thousands):

	Year Ended December 31,
	2024		2023
Allowance for credit losses as of beginning of periods	$	1,279	$	898
Provision of loan losses		725		381
Write-offs		—		—
Total credit allowance	$	2,004	$	1,279