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Notes and Other Receivables (Tables) | 3 Months Ended
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Mar. 31, 2025
Receivables [Abstract] |
Schedule of Notes and Other Receivables | Notes and other receivables consist of the following as of March 31, 2025 and December 31, 2024 ($ in thousands):
| March 31, 2025 |  | December 31, 2024
Note receivable, secured, bearing interest at 9.00%, due October 2026 (Originated October 2021) | $ | 61,944 |  |  | $ | 60,538 |
Note receivable, secured, bearing interest at 12.00%, due January 2025 (Originated August 2022) | — |  |  | 3,167 |
Note receivable, secured, bearing interest at 11.25%, due October 2027 (Originated October 2022) | 40,310 |  |  | 39,187 |
Receivable from preferred equity investment sponsor (1) | — |  |  | 72,002 |
Other receivables from affiliates | 5,344 |  |  | 5,646 |
Straight line rent receivables (2) | 8,689 |  |  | 9,235 |
Other receivables | 17,963 |  |  | 17,460 |
Allowance for credit losses | (526) |  |  | (529) |
Total notes and other receivables | $ | 133,724 |  |  | $ | 206,706 |
(1)In the fourth quarter of 2024, the Company repaid a $72.0 million senior mortgage associated with a preferred equity investment in Artizan, a 241-unit stabilized apartment home community located in Oakland, CA, and subsequently issued a default notice to the third-party sponsor in January 2025, assumed full managerial control and consolidated the property. Refer to Note 2, Significant Transactions During the three months ended March 31, 2025, for additional details. (2)These amounts are receivables from lease concessions recorded on a straight-line basis for the Company’s operating properties.
Schedule of Allowance for Credit Loss | The following table presents the activity in the allowance for credit losses for notes receivable, secured for the periods presented ($ in thousands):
| Three Months Ended March 31,
| 2025 |  |  |  |  |  |  |  |  |  | 2024
Balance at beginning of period | $ | 529 |  |  |  |  |  |  |  |  |  |  | $ | 687 |
Provision for credit losses | (3) |  |  |  |  |  |  |  |  |  |  | 25 |
Balance at end of period | $ | 526 |  |  |  |  |  |  |  |  |  |  | $ | 712 |

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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(4)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(3)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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