Schedule IV: Mortgage Loans on Real Estate

12 Months Ended

Dec. 31, 2022

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 1 property located in:

California	Other	4.25% + greater of 2% or LIBOR	Variable	05/07/2026	Interest only	$	—	$	20,566	$	17,652	$	—
Florida	Other	greater of 8.5% or SOFR + 5.5%	Variable	12/17/2023	Interest only	—		7,798		6,882		—
Florida	Other	greater of 8.5% or SOFR + 5.5%	Variable	12/17/2023	Interest only	—		3,912		3,769		—
Florida	Other	greater of 8.5% or SOFR + 5.5%	Variable	12/17/2023	Interest only	—		14,207		14,106		—
California	Other	greater of 8.5% or SOFR + 5.5%	Variable	12/16/2023	Interest only	—		35,100		33,143		—
First mortgages relating to 10 properties located in:

Multiple	Other	3.75% + greater of 0.5% or LIBOR	Variable	02/01/2024	Interest only	—		119,754		116,920		—

First mortgages relating to 16 properties located in:
Multiple	Other	4.25%	Fixed	01/21/2023(1)	Interest only	—		149,500		149,277		—




						$	—	$	350,837	$	341,749	$	—


	Year Ended December 31,
	2022		2021		2020
Reconciliation of mortgage loans
Balance at beginning of year	$	390,291	$	157,572	$	161,964
Additions:
New mortgage loans	—		310,338		98,469
Draws and additions to existing mortgage loans	5,525		9,370		19,182
Total additions	5,525		319,708		117,651

Deductions:
Principal repayments	(47,591)		(84,486)		(113,200)
Reserve for loan losses(2)	(6,476)		(2,503)		(8,843)
Total deductions	(54,067)		(86,989)		(122,043)

Balance at end of year	$	341,749	$	390,291	$	157,572

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(1)In January 2023, this secured loan reached maturity and the borrower did not make the required principal repayment. Accordingly, the loan is in default. The borrower is in discussions with the Company regarding repayment options and extension of the maturity date.

(2)The years ended December 31, 2022, 2021, and 2020 include current expected credit loss reserves recognized under ASU 2016-13, which was adopted on January 1, 2020 (see Note 2 to the Consolidated Financial Statements). The year ended December 31, 2020 also includes an immaterial amount related to the cumulative-effect of adoption of ASU 2016-13. Refer to Note 8 for additional information on the Company’s reserve for loan losses.