Subsequent Events

6 Months Ended

Jun. 30, 2023

Subsequent Events

Subsequent Events

12. Subsequent Events

Subsequent to June 30, 2023 the following events occurred:

Notes Receivable: We originated a $17,000,000 mezzanine loan for recapitalization of an existing 130-unit assisted living, memory care and independent living community in Georgia as well as the construction of 89 additional units. The loan term is five years at an initial yield of 8.75% and an IRR of 12%.

Debt: We borrowed $34,000,000 under our revolving line of credit. Accordingly, we have $360,350,000 outstanding and $39,650,000 available for borrowing under our revolving line of credit. Also, we paid $17,160,000 in regular scheduled principal payments under our senior unsecured notes. Accordingly, we have $510,296,000 outstanding under our senior unsecured notes.

Equity: We declared a monthly cash dividend of $0.19 per share on our common stock for the months of July, August and September 2023, payable on July 31, August 31, and September 29, 2023, respectively to stockholders of record on July 21, August 23, and September 21, 2023, respectively.