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Subsequent Events
6 Months Ended
Jun. 30, 2024
Subsequent Events  
Subsequent Events

13.

Subsequent Events

Subsequent to June 30, 2024, the following events occurred:

Real Estate. We sold an 80-unit ALF located in Texas for $7,959,000 to the existing operator. At June 30, 2024, the community was classified as held-for-sale and had a gross book value of $6,154,000 and a net book value of $4,248,000.

Mortgage Loan Receivable. We committed to fund a $26,120,000 mortgage loan for the construction of a 116-unit independent living, assisted living and memory care community in Illinois. The borrower contributed $12,300,000 of equity which will initially fund the construction. The loan term is approximately six years at a current rate of 9.0% and IRR of 9.5%.

Notes Receivable. We received $10,376,000 from an operator related to partial repayment of its $11,987,000 working capital note. Upon the repayment, the remaining balance of the working capital note will be interest-free and repaid in installments through 2028.

Debt. We paid $18,160,000 in regular scheduled principal payments under our senior unsecured notes. Accordingly, we have $461,362,000 outstanding under our senior unsecured notes.

Equity: We declared a monthly cash dividend of $0.19 per share on our common stock for the months of July, August and September 2024, payable on July 31, August 30, and September 30, 2024, respectively to stockholders of record on July 23, August 22, and September 20, 2024, respectively.

Other Income. We received $2,629,000 of income from former operators related to lease terminations in prior years.