| Notes and Other Receivables Notes and other receivables consisted of the following as of June 30, 2026 and December 31, 2025 ($ in thousands): | | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | Note receivable, secured, bearing interest at 9.00%, due October 2026 (Originated October 2021) | $ | 64,193 | | | $ | 64,193 | | Note receivable, secured, bearing interest at 11.25%, due October 2027 (Originated October 2022) | — | | | 43,941 | | Other receivables from affiliates (1) (2) | 6,664 | | | 5,215 | | Straight-line rent receivables (3) | 9,866 | | | 10,259 | | | Other receivables | 15,944 | | | 18,538 | | | Allowance for credit losses | (333) | | | (555) | | | Total notes and other receivables | $ | 96,334 | | | $ | 141,591 | |
(1)See Note 6, Related Party Transactions, for additional details. (2)These amounts consist of short-term loans outstanding and due from various joint ventures as of June 30, 2026 and December 31, 2025, respectively. (3)These amounts are receivables from lease concessions recorded on a straight-line basis for the Company’s operating properties. The activity in the allowance for credit losses for notes receivable, secured, for the periods presented was as follows ($ in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | 2026 | | 2025 | | Mezzanine Loans | | Bridge Loans | | Total | | Mezzanine Loans | | Bridge Loans | | Total | | Balance at beginning of period | $ | 559 | | | $ | 30 | | | $ | 589 | | | $ | 526 | | | $ | — | | | $ | 526 | | | Provision for credit losses | (226) | | | (30) | | | (256) | | | 14 | | | — | | | 14 | | | Balance at end of period | $ | 333 | | | $ | — | | | $ | 333 | | | $ | 540 | | | $ | — | | | $ | 540 | | | | | | | | | | | | | | | Six Months Ended June 30, | | 2026 | | 2025 | | Mezzanine Loans | | Bridge Loans | | Total | | Mezzanine Loans | | Bridge Loans | | Total | | Balance at beginning of period | $ | 555 | | | $ | — | | | $ | 555 | | | $ | 529 | | | $ | — | | | $ | 529 | | | Provision for credit losses | (222) | | | — | | | (222) | | | 11 | | | — | | | 11 | | | Balance at end of period | $ | 333 | | | $ | — | | | $ | 333 | | | $ | 540 | | | $ | — | | | $ | 540 | |
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