Quarterly report [Sections 13 or 15(d)]

Investing Receivables

v3.25.1
Investing Receivables
3 Months Ended
Mar. 31, 2025
Receivables [Abstract]  
Investing Receivables Investing Receivables
Investing receivables consisted of the following (in thousands): 
March 31,
2025
December 31,
2024
Notes receivable from the City of Huntsville $ 69,990  $ 69,241 
Other investing loans receivable 11,802  3,231 
Amortized cost basis 81,792  72,472 
Allowance for credit losses (3,362) (2,792)
Investing receivables, net $ 78,430  $ 69,680 

The balances above include accrued interest receivable, net of allowance for credit losses, of $833,000 as of March 31, 2025 and $3.2 million as of December 31, 2024.

Our notes receivable from the City of Huntsville funded infrastructure costs in connection with our LW Redstone Company, LLC joint venture (see Note 6) and carry an interest rate of 9.95%. Our other investing loans receivable as of March 31, 2025 carry effective interest rates ranging from 12.0% to 14.0% and mature by early 2026.

The fair value of these receivables was approximately $82 million as of March 31, 2025 and $72 million as of December 31, 2024.