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v3.22.4

Notes Receivable - New Loan Commitment (Details) | 1 Months Ended | 12 Months Ended
--- | --- | ---
Jan. 31, 2023 USD ($) item | Dec. 31, 2022 USD ($) property item | Dec. 31, 2021 USD ($) item | Dec. 31, 2020 USD ($)
Notes receivable activities |  |  |  |
Gross Investment |  | $ 58,972,000 |  |
Principal payments received on notes receivable |  | 6,843,000 | $ 2,694,000 | $ 5,275,000
Amounts funded |  | $ 37,192,000 | 16,353,000 | 2,078,000
Number of property |  | 5 |  |
Loan Term |  | 4 years |  |
Extension term number of options |  | 2 |  |
Extension term |  | 1 year |  |
Interest rate (as a percent) |  | 7.25% |  |
Number of real estate property communities | property |  | 5 |  |
Number of units | item |  | 217 |  |
Interest reserve withheld |  |  | 353,000 |
Funded under working capital |  | $ 8,767,000 | $ 540,000 | $ 4,253,000
Mortgage Loans |  |  |  |
Notes receivable activities |  |  |  |
Gross Investment |  | $ 393,658,000 |  |
Minimum |  |  |  |
Notes receivable activities |  |  |  |
Interest rate (as a percent) |  |  | 4.00% |
Maximum |  |  |  |
Notes receivable activities |  |  |  |
Loan Term |  | 4 years |  |
Interest rate (as a percent) |  |  | 8.00% |
Mezzanine loan |  |  |  |
Notes receivable activities |  |  |  |
Mezzanine loan |  | $ 36,815,000 | $ 11,815,000 |
Amounts funded |  | $ 25,000,000 |  |
Number of property | property |  | 5 |  |
Loan Term |  | 5 years |  |
Interest rate (as a percent) |  | 8.00% |  |
IRR on mortgage loan on real estate property |  | 11.00% |  |
Number of units | property |  | 621 |  |
Notes receivable, gross |  | $ 36,815,000 | $ 11,815,000 |
Mezzanine loan | Adjustment |  |  |  |
Notes receivable activities |  |  |  |
Working capital loan funded |  | 1,867,000 |  |
Mezzanine loan | Maximum |  |  |  |
Notes receivable activities |  |  |  |
Working capital loan funded |  | 2,000,000 |  |
Mezzanine loan | loan with 8% for the first 18 months increasing to 10.5% thereafter |  |  |  |
Notes receivable activities |  |  |  |
Interest rate (as a percent) |  |  | 10.50% |
Mezzanine loan | Loan with 8.0% for the first 18 months increasing to 10.5% thereafter with an internal rate of return ("IRR") of 10.5%. |  |  |  |
Notes receivable activities |  |  |  |
Mezzanine loan |  |  | $ 4,355,000 |
Loan Term |  |  | 3 years |
Extension term number of options | item |  |  | 2 |
Extension term |  |  | 12 months |
Interest rate (as a percent) |  |  | 8.00% |
Notes receivable, gross |  |  | $ 4,355,000 |
Interest reserve withheld |  |  | $ 353,000 |
Subsequent Event | Mezzanine loan |  |  |  |
Notes receivable activities |  |  |  |
Principal payments received on notes receivable | $ 4,545,000 |  |  |
Exit IRR | $ 190,000 |  |  |
Number of units | item | 136 |  |  |
Subsequent Event | Notes Receivable |  |  |  |
Notes receivable activities |  |  |  |
Number of units | item | 136 |  |  |
HMG Healthcare, LLC | Secured loan maturing in September 2022 |  |  |  |
Notes receivable activities |  |  |  |
Mezzanine loan |  | $ 25,000,000 |  |
Number of properties in transition | item |  | 11 |  |
Notes receivable, gross |  | $ 25,000,000 |  |
HMG Healthcare, LLC | Mezzanine loan |  |  |  |
Notes receivable activities |  |  |  |
Funded under working capital |  | $ 9,761,000 |  |

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