REAL ESTATE LOANS RECEIVABLE (Tables) - Mortgage Receivables and Other Real Estate Loans [Member]
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6 Months Ended |
Jun. 30, 2026 |
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| Accounts, Notes, Loans and Financing Receivable [Line Items] |
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| Schedule of Investments |
A summary of our real estate loans receivable by loan type is as follows: | | | | | | | | | | | | | | | As of June 30, 2026 | | | | | | | | | | Weighted | | | Weighted | | | | | | | | Average | | | Average Years | | | June 30, | | December 31, | | | Interest Rate | | | to Maturity | | | 2026 | | 2025 | | | | | | | | | | (in thousands) | Mortgage notes receivable – gross | | 11.4 | % | | 3.6 | (1) | | $ | 918,477 | | $ | 931,616 | Allowance for credit losses on mortgage notes receivable | | | | | | | | | (24,941) | | | (33,298) | Mortgage notes receivable – net | | | | | | | | | 893,536 | | | 898,318 | Other real estate loans – gross | | 8.6 | % | | 7.4 | (2) | | | 516,291 | | | 524,169 | Allowance for credit losses on other real estate loans | | | | | | | | | (43,083) | | | (41,538) | Other real estate loans – net | | | | | | | | | 473,208 | | | 482,631 | Total real estate loans receivable – net | | | | | | | | $ | 1,366,744 | | $ | 1,380,949 |
| (1) | Consists of mortgage notes with maturity dates ranging from 2026 through 2037 (with $135.0 million maturing in 2026). |
| (2) | Consists of other real estate loans with maturity dates ranging from 2026 through 2037 (with $9.1 million maturing in 2026). |
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| Summary of Real Estate interest income |
Interest income on real estate loans is included within interest income on the Consolidated Statements of Operations and is summarized as follows: | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | | (in thousands) | | (in thousands) | Mortgage notes – interest income | $ | 25,779 | | $ | 25,520 | | $ | 50,491 | | $ | 51,525 | Other real estate loans – interest income | | 9,944 | | | 7,455 | | | 17,798 | | | 14,612 | Total real estate loans interest income | $ | 35,723 | | $ | 32,975 | | $ | 68,289 | | $ | 66,137 |
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| Summary of real estate loan activity |
The following is a summary of advances and principal repayments under our real estate loans: | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | | (in thousands) | | (in thousands) | Advances on new real estate loans receivable(1) | $ | — | | $ | 25,604 | | $ | 21,339 | | $ | 45,651 | Advances on existing real estate loans receivable | | 16,446 | | | 3,186 | | | 22,450 | | | 9,677 | Principal repayments on real estate loans receivable(2) | | (71,797) | | | (21,326) | | | (89,051) | | | (64,830) | Net cash advances (repayments) on real estate loans receivable | $ | (55,351) | | $ | 7,464 | | $ | (45,262) | | $ | (9,502) |
| (1) | For the six months ended June 30, 2026, consists of advances under one new real estate loan that originated during 2026 with an interest rate of 13.0%. For the three and six months ended June 30, 2025, consists of advances under 12 and 14 new real estate loans, respectively, originated during 2025 with weighted average interest rates of 10.0% and 10.3%, respectively. Excludes two new mortgage loans issued in the second quarter of 2026 in connection with the sales of real estate assets. See Note 20 – Supplemental Disclosure to Consolidated Statements of Cash Flows. |
| (2) | For the three and six months ended June 30, 2026, includes $68.9 million of early repayments on three real estate loans with CommuniCare with a weighted average interest rate of 11.5% in connection with the CommuniCare sales discussed in Note 3 – Assets Held for Sale, Dispositions and Impairments. Excludes principal recoveries on loans written off in prior periods and cash recoveries related to interest payments received on loans that are written down to fair value and are being accounted for under the cost recovery method in which any payments received are applied directly against the principal balance outstanding. |
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