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NOTES RECEIVABLE FROM MOBILE HOME PARKS (Tables) - Notes Receivable from Mobile Home Parks

6 Months Ended

Jun. 30, 2024

Accounts, Notes, Loans and Financing Receivable [Line Items]

Schedule of notes receivable

​

​	​	​	​	​	​	​
​	​	As of June 30,		​	As of December 31,
​	​	2024		​	2023
Outstanding principal balance	​	$	184,730	​	$	184,280
Loan discount and deferred financing fees	​	​	(1,232)	​	​	(1,565)
Allowance for loan losses	​		(711)	​		(735)
Total	​	$	182,787	​	$	181,980

Schedule of allowance for loan losses

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three months ended

​

​

Six months ended

​

​

June 30,

​

​

June 30,

​

​

2024

​

2023

​

​

2024

​

2023

Allowance for loan losses, beginning of period

​

$

616

​

$

205

​

​

$

735

​

$

—

Provision for loan losses

​

​

95

​

​

153

​

​

​

(24)

​

​

358

(Charge offs) recoveries

​

—

​

—

​

​

—

​

—

Allowance for loan losses, end of period

​

$

711

​

$

358

​

​

$

711

​

$

358

Schedule of impaired and general reserve for allowance for loan losses

​

​	​	​	​	​	​	​
​	​	As of June 30,		​	As of December 31,
​	​	2024		​	2023
Total MHP loans	​	$	184,730	​	$	184,280
Allowance for loan losses	​	​	711	​	​	735
Impaired loans individually evaluated for impairment	​	​	25,368	​	​	31,215
Specific reserve against impaired loans	​	​	—	​	​	5
Other loans collectively evaluated for allowance	​		159,363	​		153,065
General allowance for loan losses	​	​	711	​	​	730

Schedule of disaggregation of outstanding principal balance of consumer loans receivable

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Year of Origination

​

​

2024

​

2023

​

2022

​

2021

​

2020

​

Prior

​

Total

​

% of Portfolio

< 30 days past due

​

$

18,245

​

$

42,870

​

$

42,538

​

$

24,523

​

$

28,926

​

$

3,655

​

$

160,757

​

%

87.0

30-90 days past due

​

​

—

​

​

1,271

​

​

1,760

​

​

—

​

​

—

​

​

—

​

​

3,031

​

​

1.7

> 90 days past due

​

​

—

​

​

10,381

​

​

2,903

​

​

7,203

​

​

455

​

​

—

​

​

20,942

​

​

11.3

Total

​

$

18,245

​

$

54,522

​

$

47,201

​

$

31,726

​

$

29,381

​

$

3,655

​

$

184,730

​

%

100.0

​

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+ References

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-Topic 310
-SubTopic 20
-Name Accounting Standards Codification
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Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

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