v3.26.1
LOANS RECEIVABLE AND OTHER INVESTMENTS (Tables)
 6 Months Ended
Jun. 30, 2026
Receivables [Abstract]  
Schedule of Loans Receivable and Other Investments
The Company’s loans receivable and other investments consisted of the following (dollars in thousands):
As of June 30, 2026
Investment
Quantity
as of
June 30, 2026
Property Type
Principal Balance
as of
June 30, 2026 (1)
Book Value
as of
June 30, 2026
Book Value
as of December 31, 2025
Weighted Average Contractual Interest Rate / Rate of ReturnWeighted Average Annualized Effective Interest Rate / Rate of ReturnMaturity Date
Loans Receivable:
Mortgage1 Behavioral Health$19,000 $19,000 $335,600 10.0 %10.0 %01/31/27
Other10 Multiple36,218 34,110 38,194 7.3 %6.6 %08/31/26 - 08/31/33
11 55,218 53,110 373,794 8.2 %7.8 %
Allowance for loan losses— (5,256)(5,047)
$55,218 $47,854 $368,747 
Other Investments:
Preferred Equity4 Senior Housing67,012 67,224 65,353 11.0 %11.0 %N/A
Total 15 $122,230 $115,078 $434,100 9.7 %9.6 %
(1)    Principal balance includes amounts funded and accrued but unpaid interest / preferred return and excludes capitalizable fees.
Schedule of Additional Information Regarding the Company's Loans Receivable
Additional information regarding the Company’s loans receivable is as follows (dollars in thousands):
Six Months Ended June 30,
20262025
Allowance for loan losses:
Balance at beginning of the period$5,047 $6,094 
Provision for (recovery of) loan losses986 (400)
Write-off of uncollectible balances(777)— 
Balance at end of the period$5,256 $5,694