(A)

Includes a promissory note receivable with a principal amount of $3.2 million as of June 30, 2026 and December 31, 2025, respectively. The note bears interest at a fixed rate of 8.0% per annum, as well as an additional percentage of distributable cash, with interest payments due quarterly and the principal due at maturity on May 22, 2030. The note is classified as held-for-investment and measured at amortized cost. The Company evaluates the credit quality of the note on a regular basis and records an allowance for credit losses when warranted based on management’s assessment of collectability. As of June 30, 2026, the Company recorded an allowance for credit losses of $2.3 million related to the note receivable. The allowance for credit losses is included within credit loss and impairment on other assets in the accompanying consolidated statements of operations. After consideration of the allowance for credit losses, the note had a net carrying value of approximately $0.9 million as of June 30, 2026. The note receivable is classified as a “Level 3” fair value item due to the Company’s reliance on unobservable inputs to estimate its fair value. Because of the significant judgment involved in estimating recoverability and fair value, the estimated fair value may differ from the carrying value. As of June 30, 2026, management believes the recorded allowance appropriately reflects the current expected credit losses associated with the note.