Notes and Other Receivables (Tables)

3 Months Ended

Mar. 31, 2022

Receivables [Abstract]

Notes and Other Receivables

Notes and other receivables consist of the following as of March 31, 2022 and December 31, 2021 ($ in thousands):

	March 31, 2022		December 31, 2021
Notes receivable, secured, bearing interest at 10.50%, due February 2023 (Originated March 2020)	$	17,513	$	17,051
Note receivable, secured, bearing interest at 9.00%, due December 2023 (Originated November 2020)	88,746		87,365
Note receivable, secured, bearing interest at 11.50%, due November 2024 (Originated November 2020)	30,614		29,729
Related party note receivable, secured, bearing interest at 2.15%, due March 2022 (Originated September 2021) (1)	—		29,314
Related party note receivable, secured, bearing interest at 2.30%, due April 2022 (Originated October 2021) (2)	—		30,399
Related party note receivable, secured, bearing interest at 2.36%, due February 2022 (Originated November 2021) (3)	—		62,058
Related party note receivable, secured, bearing interest at 2.36%, due February 2022 (Originated November 2021) (4)	—		48,562
Related party note receivable, secured, bearing interest at 1.35%, due March 2022 (Originated February 2022) (5)	32,788		—
Notes and other receivables from affiliates (6)	7,074		6,556
Straight line rent receivables (7)	13,482		15,523
Other receivables	15,904		15,232
Allowance for credit losses	(701)		(756)
Total notes and other receivables	$	205,420	$	341,033

(1) In January 2022, the Company received cash of $29.2 million to payoff the principal of this note receivable.

(2) In January 2022, the Company received cash of $30.3 million to payoff the principal of this note receivable.

(3) In January 2022, the Company received cash of $61.9 million to payoff the principal of this note receivable.

(4) In January 2022, the Company received cash of $48.4 million to payoff the principal of this note receivable.

(5) See Note 6, Related Party Transactions, for additional details.

(6) These amounts consist of short-term loans outstanding and due from various joint ventures as of March 31, 2022 and December 31, 2021, respectively. See Note 6, Related Party Transactions, for additional details.

(7) These amounts are receivables from lease concessions recorded on a straight-line basis for the Company's operating properties.

Schedule of Allowance for Credit Loss

The following table presents the activity in the allowance for credit losses for notes and other receivables by loan type ($ in thousands):

	Mezzanine Loans		Bridge Loans		Total
Balance at December 31, 2021	$	671	$	85	$	756
Provision for credit losses	14		(69)		(55)
Balance at March 31, 2022	$	685	$	16	$	701