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Notes Receivable, Net (Tables)

9 Months Ended

Sep. 30, 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):

		September 30,				December 31,				September 30, 2024
Description		2024				2023				Number				Maturity Date		Interest Rate
Notes receivable (a)		$	128,411			$	126,228				6			Apr 2020 - Dec 2027		5.00% - 12.00%
Allowance for credit losses			(1,835	)			(1,279	)
Notes receivable, net		$	126,576			$	124,949				6

(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 nine months ended September 30, 2024.

Schedule of Changes in the Company's Credit Allowance

Changes in the Company’s credit allowance were as follows (in thousands):

		Nine Months Ended September 30,
		2024				2023
Allowance for credit losses as of beginning of periods		$	1,279			$	834
Provision of loan losses			556				154
Total - credit losses and reserves		$	1,835			$	988

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- Definition

Tabular disclosure of allowance for credit loss on financing receivable.

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-Topic 310
-SubTopic 10
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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.

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