Schedule IV: Mortgage Loans on Real Estate

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]

Schedule IV: Mortgage Loans on Real Estate

(in thousands)


Location	Segment	Interest Rate	Fixed / Variable	Maturity Date	Periodic Payment Terms	Prior Liens		Face Amount of Mortgages		Carrying Amount of Mortgages		Principal Amount Subject to Delinquent Principal or Interest
First mortgages relating to 10 properties:

Multiple	Other	4.0% + (SOFR + 10 bps)	Variable	2/1/2024(1)	Interest only	$	—	$	130,678	$	128,027	$	—

First mortgages relating to 10 properties:
Multiple	Other	7.0% + (SOFR + 11 bps)	Variable	1/21/2024(2)	Interest only	—		48,000		47,690		—




						$	—	$	178,678	$	175,717	$	—

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(1)In February 2024, the loan reached its maturity. The Company provided a short-term extension to the borrower, and the Company and the borrower are currently negotiating long-term refinance and extension terms (see Note 7 to the Consolidated Financial Statements for additional information).

(2)In January 2024, this loan was refinanced with the Company. In connection with the refinance, the maturity date of the loan was extended to January 2025 (see Note 7 to the Consolidated Financial Statements for additional information).


	Year Ended December 31,
	2023		2022		2021
Reconciliation of mortgage loans
Balance at beginning of year	$	341,749	$	390,291	$	157,572
Additions:
New mortgage loans	—		—		310,338
Draws and additions to existing mortgage loans	11,602		5,525		9,370
Total additions	11,602		5,525		319,708

Deductions:
Principal repayments	(183,084)		(47,591)		(84,486)
Recoveries (reserves) for loan losses(1)	5,450		(6,476)		(2,503)
Total deductions	(177,634)		(54,067)		(86,989)

Balance at end of year	$	175,717	$	341,749	$	390,291

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(1)Excludes reserves and recoveries for expected loan losses associated with unfunded loan commitments which are included in accounts payable, accrued liabilities, and other liabilities on the Consolidated Balance Sheets.