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Notes Receivable | 3 Months Ended
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Mar. 31, 2025
Receivables [Abstract] |
Notes Receivable | Note Receivable The Company has a note receivable with the manager of 815 Commerce MM, who also holds a non-controlling interest in 815 Commerce MM. See discussion in note 2. The note receivable is payable within 30 days after demand. If the manager fails upon demand to repay the note receivable with interest, the Company will have the right to convert the unpaid principal plus all accrued interest thereon to an additional capital contribution, in which case the deemed additional capital contributions by the manager will be deemed to have not occurred and the percentage interests and the residual sharing percentages of the members shall be adjusted. The note receivable may be prepaid in whole or in part. The following table summarizes the note receivable (dollars in thousands):
| Interest Rate |  | March 31, 2025 |  | December 31, 2024
Note receivable (1) | 18.0 | % |  | $ | 10,958 |  |  | $ | 10,565 |
_____________________________ (1) As of March 31, 2025, the Company’s note receivable balance consists of advances of $8.8 million and accrued interest of $2.1 million. The following table summarizes the interest income associated with the note receivable (in thousands):
|  |  |  | Three Months Ended March 31,
Line Item |  |  |  |  |  | 2025 |  | 2024 |  |  |  |
Interest income |  |  |  |  |  | $ | 393 |  |  | $ | 386 |  |  |  |  |
We review receivables for impairment each reporting period. Under this model, the Company estimates credit losses over the entire contractual term of the instrument from the date of initial recognition of that instrument and is required to record a credit loss expense (or reversal) in each reporting period. Our assessment of impairment is based on considerable management judgment and assumptions. No impairment charges were recorded for the three months ended March 31, 2025 and 2024.

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- Definition The entire disclosure for claims held for amounts due to entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-10/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 + Details
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- References No definition available. + Details
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