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LOANS RECEIVABLE AND INVESTMENTS | 9 Months Ended
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Sep. 30, 2024
Receivables [Abstract] |
LOANS RECEIVABLE AND INVESTMENTS | NOTE 6—LOANS RECEIVABLE AND INVESTMENTS As of September 30, 2024 and December 31, 2023, we held $168.6 million and $54.1 million, respectively, of loans receivable and investments, net of allowance, relating to senior housing and healthcare operators or properties. The following is a summary of our loans receivable and investments, net, including amortized cost, fair value and unrealized gains or losses on available for sale investments, if applicable (dollars in thousands):
| Amortized Cost |  | Allowance |  |  |  | Carrying Amount |  | Fair Value
As of September 30, 2024: |  |  |  |  |  |  |  |  |
Secured/mortgage loans and other, net (1) | $ | 144,797 |  |  | $ | — |  |  |  |  | $ | 144,797 |  |  | $ | 145,905 |
Non-mortgage loans receivable, net (2) | 27,564 |  |  | (3,810) |  |  |  |  | 23,754 |  |  | 22,895 |
Total loans receivable and investments, net | $ | 172,361 |  |  | $ | (3,810) |  |  |  |  | $ | 168,551 |  |  | $ | 168,800 |
As of December 31, 2023: |  |  |  |  |  |  |  |  |
Secured/mortgage loans and other, net (1) | $ | 27,986 |  |  | $ | — |  |  |  |  | $ | 27,986 |  |  | $ | 27,947 |
Non-mortgage loans receivable, net (2) | 30,128 |  |  | (3,976) |  |  |  |  | 26,152 |  |  | 25,200 |
Total loans receivable and investments, net | $ | 58,114 |  |  | $ | (3,976) |  |  |  |  | $ | 54,138 |  |  | $ | 53,147 |
______________________________ (1)Investments have contractual maturities ranging from 2024 to 2027. (2)Included in other assets on our Consolidated Balance Sheets. In September 2024, we provided new secured debt financing of $109.0 million to the owner of a senior housing property, secured by the asset and with additional credit support. The loan provides us with a right of first offer to purchase the asset on certain terms and conditions. The loan has a 3-year term and bears interest at a floating rate based on one-month SOFR, subject to a floor of 4.50%, plus a spread of 5.75%, increasing to 6.00% commencing on the first-year anniversary of the loan.

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