| Schedule IV - Mortgage Loans on Real Estate |
ESSENTIAL PROPERTIES REALTY TRUST, INC. Schedule IV - Mortgage Loans on Real Estate As of December 31, 2025 (Dollar amounts in thousands) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Description | | # of Properties | | Interest
Rate | | Final
Maturity
Date | | Periodic
Payment
Terms | | Final
Payment
Terms | | Prior
Liens | | Face
Amount of
Mortgages | | Carrying
Amount of
Mortgages | | Principal Amount
of Loans Subject
to Delinquent
Principal or Interest | | First mortgage loans: | | | | | | | | | | | | | | | | | | | | Early Childhood Education Centers located in Florida | | 2 | | 8.80% | | 5/9/2039 | | Interest only | | Balloon - $12,000 | | None | | $ | 12,000 | | | $ | 11,853 | | | None | | Early Childhood Education Centers located in Florida | | 1 | | 8.53% | | 7/17/2039 | | Interest only | | Balloon - $2,500 | | None | | 2,500 | | | 2,468 | | | None | Quick Service Restaurants located in fifteen states | | 69 | | 7.82% | | 8/31/2034 | | Interest only | | Balloon - $51,000 | | None | | 51,000 | | | 50,995 | | | None | | Convenience Store located in Minnesota | | 1 | | 8.54% | | 12/31/2026 | | Interest only | | Balloon - $1,525 | | None | | 1,525 | | | 1,499 | | | None | | Convenience Stores located in Wisconsin and Iowa | | 2 | | 8.33% | | 12/31/2026 | | Interest only | | Balloon - $994 | | None | | 994 | | | 972 | | | None | | Casual Dining Restaurants located in Kentucky and Ohio | | 2 | | 6.87% | | 5/31/2036 | | Interest only | | Balloon - $2,520 | | None | | 2,520 | | | 2,520 | | | None | | Convenience Stores located in Iowa | | 2 | | 8.33% | | 12/31/2026 | | Interest only | | Balloon - $2,389 | | None | | 2,389 | | | 2,327 | | | None | | Entertainment Center located in New Jersey | | 1 | | 8.99% | | 9/30/2051 | | Principal + Interest | | Fully amortizing | | None | | 35,000 | | | 34,907 | | | None | | Car Washes located in Nevada | | 5 | | 7.30% | | 12/31/2036 | | Interest only | | Balloon - $25,714 | | None | | 25,714 | | | 25,711 | | | None | | Car Wash located in Florida | | 1 | | 7.73% | | 12/29/2036 | | Interest only | | Balloon - $2,470 | | None | | 2,470 | | | 2,463 | | | None | | Casual Dining Restaurant located in Michigan | | 1 | | 9.63% | | 1/31/2040 | | Interest only | | Balloon - $1,754 | | None | | 1,754 | | | 1,739 | | | None | | Quick Service Restaurants located in Ohio and Indiana | | 8 | | 7.00% | | 2/28/2027 | | Interest only | | Balloon - $6,275 | | None | | 6,275 | | | 6,239 | | | None | | Convenience Store located in Minnesota | | 1 | | 8.29% | | 12/31/2026 | | Interest only | | Balloon - $760 | | None | | 760 | | | 740 | | | None | | Car Wash located in Nevada | | 1 | | 7.33% | | 12/31/2036 | | Interest only | | Balloon - $4,960 | | None | | 4,960 | | | 4,945 | | | None | | Car Wash located in Nevada | | 1 | | 7.43% | | 12/31/2036 | | Interest only | | Balloon - $4,800 | | None | | 4,800 | | | 4,786 | | | None | Car Washes located in three states | | 4 | | 8.64% | | 12/31/2037 | | Interest only | | Balloon - $12,250 | | None | | 12,250 | | | 12,245 | | | None | Car Washes located in five states | | 9 | | 8.85% | | 12/31/2037 | | Interest only | | Balloon - $25,993 | | None | | 25,993 | | | 25,933 | | | None | | Entertainment Center located in Missouri | | 1 | | 8.84% | | 1/13/2038 | | Interest only | | Balloon - $10,200 | | None | | 10,200 | | | 10,188 | | | None | Medical / Dental Facilities located in three states | | 3 | | 10.19% | | 1/31/2039 | | Interest only | | Balloon - $10,300 | | None | | 10,300 | | | 10,298 | | | None | Early Childhood Education Centers located in four states | | 14 | | 10.00% | | 6/30/2044 | | Interest only | | Balloon - $57,454 | | None | | 57,454 | | | 57,450 | | | None | | Entertainment Center Located in New Jersey | | 1 | | 8.60% | | 7/31/2034 | | Interest only | | Balloon - $15,000 | | None | | 15,000 | | | 14,871 | | | None |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Description | | # of Properties | | Interest
Rate | | Final
Maturity
Date | | Periodic
Payment
Terms | | Final
Payment
Terms | | Prior
Liens | | Face
Amount of
Mortgages | | Carrying
Amount of
Mortgages | | Principal Amount
of Loans Subject
to Delinquent
Principal or Interest | | Convenience Store located in Texas | | 1 | | 8.00% | | 8/13/2027 | | Interest only | | Balloon - $900 | | None | | 900 | | | 885 | | | None | | Medical / Dental Facilities located in North Carolina and Georgia | | 2 | | 10.20% | | 10/1/2039 | | Interest only | | Balloon - $5,900 | | None | | 5,900 | | | 5,898 | | | None | Early Childhood Education Centers located in four states | | 6 | | 9.58% | | 9/30/2044 | | Interest only | | Balloon - $23,649 | | None | | 23,649 | | | 23,618 | | | None | | Quick Service Restaurant located in Alaska | | 1 | | 7.50% | | 2/1/2028 | | Interest only | | Balloon - $1,550 | | None | | 1,550 | | | 1,540 | | | None | | Automotive Service Center located in California | | 1 | | 9.72% | | 6/30/2045 | | Interest only | | Balloon - $19,950 | | None | | 19,950 | | | 19,931 | | | None | | Industrial Facilities located in Illinois | | 2 | | 10.93% | | 8/31/2045 | | Interest only | | Balloon - $13,000 | | None | | 13,000 | | | 12,988 | | | None | | Casual Dining Restaurant in Florida | | 1 | | 8.06% | | 9/30/2040 | | Interest only | | Balloon - $8,276 | | None | | 8,276 | | | 8,260 | | | None | Medical / Dental Facilities located in five states | | 5 | | 9.92% | | 10/1/2040 | | Interest only | | Balloon - $13,650 | | None | | 13,650 | | | 13,628 | | | None | | Early Childhood Education Center located in Arizona | | 1 | | 9.54% | | 12/31/2045 | | Interest only | | Balloon - $3,692 | | None | | 3,692 | | | 3,688 | | | None | | | | | | | | | | | | | | | | $ | 376,425 | | | $ | 375,585 | | | |
The following table shows changes in carrying amounts of mortgage loans receivable during the years ended December 31, 2025, 2024 and 2023 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | Year ended December 31, | | | | 2025 | | 2024 | | 2023 | | Balance, beginning of period | | $ | 328,513 | | | $ | 220,121 | | | $ | 233,978 | | | Additions: | | | | | | | | New mortgage loans | | 77,466 | | | 100,427 | | | 13,091 | | | Subsequent funding on existing mortgage loans | | 17,251 | | | 17,459 | | | — | | | Deductions: | | | | | | | | Collections of principal | | (47,470) | | | (9,485) | | | (27,029) | | | Provision for credit losses | | (175) | | | (9) | | | 81 | | | Balance, end of period | | $ | 375,585 | | | $ | 328,513 | | | $ | 220,121 | |
See accompanying report of independent registered public accounting firm.
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