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Loans (Tables)

9 Months Ended

Sep. 30, 2025

Receivables [Abstract]

Schedule of Preferred Loan Investments

Information as to these investments at September 30, 2025 is summarized below (dollars and thousands):

Note 6 – Loans (continued)

Location						Investment Date						Annual Return						Current Return						Hurdle Return						Invested Amount						Redemption Date						Deferred fees
Wilmington, NC						October 2024						13		%				6.00		%				7.00		%				$	7,000					November 2031						$	(120)
Kennesaw, GA						November 2024						13		%				6.50		%				6.50		%				11,250						June 2029						(147)
																														$	18,250											$	(267)

The following table provides the net carrying value of the loans made by the Company (i.e., the Preferred Equity Investments) that are outstanding (dollars in thousands):

						September 30, 2025						December 31, 2024
Unpaid principal balance						$	18,250					$	18,250
less: allowance for credit loss						(270)						(270)
less: deferred loan fees						(267)						(313)
Net carrying value						$	17,713					$	17,667

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- References

No definition available.

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- Definition

Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

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