Mortgage and Other Financing Receivables |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage and Other Financing Receivables | 6. Mortgage and Other Financing Receivables The Company has various mortgage and other financing receivables, which consist of loans acquired and loans originated by the Company. As of March 31, 2026 and December 31, 2025, the Company had mortgage and other financing receivables, net of allowance for credit losses of $420.4 million and $383.9 million, respectively. As of March 31, 2026, these mortgage and other receivables have scheduled maturities ranging from less than one year to 8.6 years and accrue interest at rates ranging from 6.35% to 12.50%. During the three months ended March 31, 2026 and 2025, the Company recognized mortgage and other financing income, net of $12.5 million and $11.3 million, respectively. During the three months ended March 31, 2026, the Company (i) provided $76.4 million of mortgage and other financing loans and (ii) collected $39.9 million of mortgage and other financing receivables. During the three months ended March 31, 2025, the Company collected $23.1 million of mortgage and other financing receivables, of which $18.4 million was repaid at closing upon the Company’s acquisition of the corresponding properties. The following table presents the changes in the allowance for loan losses for the three months ended March 31, 2026 and 2025, respectively (in thousands):
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