Credit Loss Reserve (Tables)

6 Months Ended

Jun. 30, 2026

Credit Loss Reserve

Summary of financial instruments within the scope of ASC 326

The following table summarizes our financial instruments within the scope of ASC 326 by year of origination (in thousands):


			Year of origination ⁽¹⁾																	At June 30, 2026
Investment Type:		2026			2025			2024			2023			2022			Prior			Total			Credit loss reserve
Financing receivables		$	—		$	—		$	163,460		$	123,456		$	—		$	—		$	286,916		$	2,869

Mortgage loans receivable		$	—		$	96,907		$	16,386		$	28,999		$	—		$	253,800		$	396,092		$	3,955

Mezzanine loans		$	—		$	—		$	—		$	—		$	25,000		$	—		$	25,000		$	250
Working Capital loans			—			—			25			—			—			703			728			7
Total Notes Receivable		$	—		$	—		$	25		$	—		$	25,000		$	703		$	25,728		$	257

(1)	Excludes paid-off loans. Additional funding, if any, is included in the year of the origination of the initial loan.

Summary of expected credit losses

The expected credit losses related to our financial instruments that are within the scope of ASC 326 are as follows (in thousands):


						Recovery		Provision
		Balance				due to		due to			Balance
		at				Payoffs/		Originations/			at
Description		12/31/2025				Write-offs		additional funding			6/30/2026
Credit Loss Reserve – Financing Receivables		$	3,631		$	(765)	⁽¹⁾	$	3		$	2,869
Credit Loss Reserve – Mortgage Loans Receivable			3,849			—			106			3,955
Credit Loss Reserve – Notes Receivable			259			(2)			—			257

(1)	Relates to the recovery of a credit loss reserve on a financing receivable resulting from the lessee’s exercise of its purchase option for the underlying properties during the three months ended March 31, 2026.