Company: EPR-PE
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001045450-25-000051
Chunk: 148

Company: EPR PROPERTIES
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 148
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 During the years ended December 31, 2024 and 2023, the Company received principal payments totaling $0.8 million and $0.7 million, respectively, from one of the note receivable borrowers.At December 31, 2024, the Company's investment in one of the notes receivable was a variable interest investment and the underlying entity is a VIE. The Company is not the primary beneficiary of this VIE because the Company does not individually have the power to direct the activities that are most significant to the entity and accordingly, this investment is not consolidated. The Company's maximum exposure to loss associated with this VIE is limited to the Company's outstanding note receivable in the amount of $6.9 million, which is fully reserved in the allowance for credit losses at December 31, 2024.The following summarizes the activity within the allowance for credit losses related to mortgage notes, unfunded commitments and notes receivable for the years ended December 31, 2024 and 2023 (in thousands):Mortgage notes receivableUnfunded commitments -  mortgage notes receivableNotes receivableUnfunded commitments -  notes receivableTotalAllowance for credit losses at December 31, 2022$8,999 $751 $11,952 $— $21,702 Provision (benefit) for credit losses, net2,428 321 (1,871)— 878 Charge-offs(7,771)— (394)— (8,165)Recoveries— — — — — Allowance for credit losses at December 31, 2023$3,656 $1,072 $9,687 $— $14,415 Provision (benefit) for credit losses, net13,455 (332)(876)— 12,247 Charge-offs— — — — — Recoveries— — — — — Allowance for credit losses at December 31, 2024$17,111 $740 $8,811 $— $26,662 

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EPR PROPERTIES Notes to Consolidated Financial StatementsDecember 31, 2024, 2023 and 2022

8. Unconsolidated Real Estate Joint Ventures

The following table summarizes our investment in unconsolidated joint ventures as of December 31, 202