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Notes Receivable, Net (Tables) | 3 Months Ended
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Mar. 31, 2024
Accounts and Financing Receivable, after Allowance for Credit Loss [Abstract] |
Schedule of Notes Receivable | The Company’s notes receivable, net are generally collateralized either by the underlying properties or the borrowers’ ownership interests in the entities that own the properties, and were as follows (dollars in thousands):
|  | March 31, |  |  | December 31, |  |  | March 31, 2024
Description |  | 2024 |  |  | 2023 |  |  | Number |  |  | Maturity Date |  | Interest Rate
Core Portfolio (a) |  | $ | 120,293 |  |  | $ | 126,228 |  |  |  | 5 |  |  | Apr 2020 - Dec 2027 |  | 4.65% - 10.00%
Allowance for credit losses |  |  | (1,416 | ) |  |  | (1,279 | ) |  |  |  |  |  |  |
Notes receivable, net |  | $ | 118,877 |  |  | $ | 124,949 |  |  |  | 5 |  |  |  |  |
(a) Includes one note receivable from an OP Unit holder, with a balance of $6.0 million as of December 31, 2023. The note was paid off during the three months ended March 31, 2024.
Schedule of Changes in the Company's Credit Allowance | Changes in the Company’s credit allowance were as follows (in thousands):
|  | Three Months Ended March 31, |
|  | 2024 |  |  | 2023 |
Allowance for credit losses as of beginning of periods |  | $ | 1,279 |  |  | $ | 898 |
Provision of loan losses |  |  | 137 |  |  |  | (64 | )
Total - credit losses and reserves |  | $ | 1,416 |  |  | $ | 834 |

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- Definition Tabular disclosure of allowance for credit loss on financing receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479319/326-20-50-13 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481962/310-10-50-11B + Details
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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 -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
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