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Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2023

Related Party Transactions

Schedule of related party transactions

​	​	​	​	​	​	​	​	​	​
​		Year Ended December 31,
​	​	2023			2022			2021
​	​	(In thousands)
Investments in Senior Housing and Healthcare Entity	​	​	​	​	​	​	​	​	​
Origination fees received from borrowers referred by the LLC	​	$	12,669	​	$	24,830	​	$	17,848
Fees paid to LLC for loans referred and originated	​	​	(9,866)	​	​	(17,145)	​	​	(14,512)
Servicing income received for loans referred by the LLC	​	​	561	​	​	417	​	​	69
Servicing income participation paid to LLC	​	​	(281)	​	​	(209)	​	​	(34)
Income from investment in LLC	​	​	1,612	​	​	4,129	​	​	1,369
Distributions received from LLC	​	​	993	​	​	3,795	​	​	405
Interest income paid to LLC for loans originated and referred by the LLC	​	​	(3,587)	​	​	(6,725)	​	​	(4,522)
​	​	​	​	​	​	​	​	​	​
Investments in LIHTC Syndications	​	​	​	​	​	​	​	​	​
Interest income, financing (1) and other fees received from syndicated funds	​	$	16,592	​	$	11,012	​	$	8,030
Loans outstanding, net of participations sold, to syndicated funds	​	​	127,449	​	​	49,004	​	​	18,586
​	​	​	​	​	​	​	​	​	​
Investments in Debt Financing Entities	​	​	​	​	​	​	​	​	​
Income from investments, servicing, interest income, and management of debt funds	​	$	29,992	​	$	4,642	​	$	1,139
Distributions received from debt funds	​	​	890	​	​	512	​	​	—
Loans outstanding, net of participations sold, to debt funds	​	​	108,055	​	​	35,732	​	​	20,700
Loans sold to debt funds	​	​	102,336	​	​	884,247	​	​	273,914
Gains (losses) recognized on loans sold to debt funds	​	​	(263)	​	​	—	​	​	—
Carrying value, at year-end, of held-to-maturity securities purchased from debt funds	​	​	472,539	​	​	248,366	​	​	—

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(1) Financing fees, net of costs to originate, are deferred and recognized in income over the life of the loan.

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- Definition

Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates.

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