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Schedule IV - Mortgage Loans on Real Estate Assets | 12 Months Ended
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Dec. 31, 2023
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract] |
Schedule IV - Mortgage Loans on Real Estate Assets | Schedule IV – Mortgage Loans on Real Estate Assets as of December 31, 2023
Dollars in thousands | Final Maturity Date | Payment Terms |  | Prior Liens |  | Face Amount |  | Carrying Amount |  | Principal Amount of Loans Subject to Delinquent Principal or Interest
Mortgage loan on real estate located in: |  |  |  |  |  |  |  |  |  |
Texas | 7.00 | % | 7/1/2024 | (1) |  | $ | — |  |  | $ | 31,150 |  |  | $ | 31,150 |  |  | $ | — |
North Carolina | 8.00 | % | 12/22/2024 | (2) |  | — |  |  | 6,000 |  |  | 5,796 |  |  |
Florida | 6.00 | % | 2/27/2026 | (3) |  | — |  |  | 32,156 |  |  | 32,112 |  |  | — |
California | 6.00 | % | 3/29/2026 | (4) |  | — |  |  | 45,000 |  |  | 45,000 |  |  | — |
Florida | 9.00 | % | 12/28/2026 | (5) |  | — |  |  | 7,700 |  |  | 7,700 |  |  | — |
Mezzanine loans on real estate located in: |  |  |  |  |  |  |  |  |  |
Texas | 8.00 | % | 6/24/2024 | (6) |  | — |  |  | 54,119 |  |  | 45,856 |  |  | 54,119 |
Arizona | 9.00 | % | 12/20/2026 | (4) |  | — |  |  | 6,000 |  |  | 6,000 |  |  | — |
Total real estate notes receivable |  |  |  | $ | — |  |  | $ | 182,125 |  |  | $ | 173,614 |  |  | $ | 54,119 |
1 Twelve-month prefunded interest reserve, with principal sum and interest on unpaid principal due on the maturity date.
2 Capitalized interest through maturity, with outstanding principal and accrued interest due on the maturity date.
3 Construction loan up to $65 million with periodic disbursements. Interest only payments due with principal and any unpaid interest due on the maturity date.
4 Interest only payments due with principal and any unpaid interest due on the maturity date.
5 Monthly installment payments of principal and interest in the amount of $152,069.
6 Interest only payments due with principal and any unpaid interest due on the maturity date. Loan on non-accrual status as of December 31, 2023.
The following shows changes in the carrying amounts of mortgage loans on real estate assets during the years ended December 31, 2023, 2022 and 2021:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Balance as of the beginning of the year | $ | 99,643 |  |  | $ | — |  |  | $ | — |
Additions: |  |  |  |  |
Fair value real estate notes assumed | — |  |  | 74,819 |  |  | — |
New real estate notes | 58,700 |  |  | 23,325 |  |  | — |
Draws on existing real estate notes | 19,103 |  |  |  |  |
Capitalized interest | — |  |  | 1,499 |  |  | — |
Accretion of fees and other items | 1,364 |  |  | — |  |  | — |
Deductions: |  |  |  |  |
Collection of real estate loans | — |  |  | — |  |  | — |
Deferred fees and other items | — |  |  | — |  |  | — |
Allowance for credit loss | $ | (5,196) |  |  |  |  |
Balance as of the end of the year | $ | 173,614 |  |  | $ | 99,643 |  |  | $ | — |
All other schedules for which provision is made in the applicable accounting regulations of the Securities and Exchange Commission are omitted because they are not required under the related instructions or are not applicable, or because the required information is shown in the consolidated financial statements or notes thereto.

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- Definition The entire disclosure for investment in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate. Includes, but is not limited to, information for each mortgage loan receivable equaling or exceeding 3 percent of carrying amount of mortgage. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 29 -Publisher SEC Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 948 -SubTopic 310 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-29) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479851/948-310-S99-1 + Details
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