Credit Loss Reserve (Tables)

6 Months Ended

Jun. 30, 2025

Credit Loss Reserve

Summary of financial instruments within the scope of ASC 326

The following table summarizes our financial instruments within the scope of ASC 326 by year of origination (dollar amounts in thousands):


			Year of origination ⁽¹⁾																	At June 30, 2025
Investment Type:		2025			2024			2023			2022			2021			Prior			Total			Credit loss reserve
Financing receivables		$	—		$	163,460		$	121,419		$	76,559		$	—		$	—		$	361,438		$	3,614

Mortgage loans receivable		$	38,495		$	—		$	47,043		$	—		$	16,706		$	254,571		$	356,815		$	3,562

Mezzanine loans		$	—		$	—		$	17,000		$	25,000		$	—		$	—		$	42,000		$	420
Working Capital loans			—			—			—			—			1,178			957			2,135			21
Total Notes Receivable		$	—		$	—		$	17,000		$	25,000		$	1,178		$	957		$	44,135		$	441

(1)	Excludes paid-off loans. Additional funding, if any, is included in the year of the origination of the initial loan.

Summary of expected credit losses

The expected credit losses related to our financial instruments that are within the scope of ASC 326 are as follows (in thousands):


						Recovery		Provision
		Balance				due to		due to			Balance
		at				Payoffs/		Originations/			at
Description		12/31/2024				Write-offs		additional funding			6/30/2025
Credit Loss Reserve- Financing Receivables		$	3,615		$	(1)		$	—		$	3,614
Credit Loss Reserve- Mortgage Loans Receivable			3,151			(4)			415			3,562
Credit Loss Reserve-Notes Receivable			477			(36)			—			441