capital by the originations due XXXX from million income by compared mezzanine $XXX,XXX increased originations. to Interest increased for first $X.X Wendy. $XXX,XXX loan and loans primarily revenue the of loan payoffs. first increased offset with and quarter quarter Interest income Thanks, to Total partially mortgage other related working XXXX.
transitioned decreased in However, primarily $X.X properties revenue were offset property from as expense, primarily and by year costs partially year-over-year Senior all revenue rental unconsolidated Interest the due ventures. million to from comparable was transaction by transition, write-off. expenses prior straight-line increases tax former Lifestyle portfolio the Care from and joint Senior rent income
receivable. provision loan to under quarter, credit mortgage year's and funding first with notes and mezzanine origination last Our $XXX,XXX compared our losses additional the primarily loans due for increased
offset to expense. common the paid from partially a reserve higher costs sale previously higher first and NAREIT XXX,XXX of to balance. as with the inflationary by G&A FFO to XXX,XXX loan available reminder G&A prior the higher in loan reserve of estimate due incentive on upon first decline X% charges diluted report non-cash the loan real in year's down. pressures. principle quarter. equal XXXX Fully This $X.XX increased amortized estate, due Net shareholders the As year-over-year, loss per rental compensation a revenue by and in increases mainly for XXXX origination, is compensation, is loss $X.XX increased with resulting share the originations we and loan income net overall quarter compared discussed to
loan $X.XX non-recurring net compared G&A with FFO quarter Excluding revenue from revenues first originations. year's and excluding rental offset decline per by partially FFO was last to non-recurring decrease due was $X.XX in higher the previously quarter. share The items in higher items, discussed this
funded term quarter, extension approximately five years X% at XX%. IRR providing with Oregon interest with first expected million and an in options a month secured XX $XX two the loans range a mezzanine of is living we services bears five and loan During The of senior communities by Montana.
capital We HMG $XX.X a properties. the also funded to $X.X HMG, March transitioned $XX working operator at million committed approximately loan care the the of to XXX,XXX quarter, million first whom we secured XX, of leaving million a balance senior previously former paid XXXX. XX in back
in expect an anticipated down quarter. HMG additional the the second with to We $X third pass pay further in million quarter
XXX,XXX was community in new the transitioned we quarter, XX we During to of of Castle lifestyle lease Colorado. located Tshis senior Rock, quarter community it care own operator can of book of rent new with XXXX. the we unit to operator, sent the first sell The The from during first a intend the of April was closure memory this lease in net generate which to year it. expected was is the XXXX. property two as million value and X, termed of $X.X five-year to
rents senior provide forward. senior lifestyle former portfolios, and our details to on additional Regarding going some expected care like I'd
quarters the XX,XXX in in third six separate assumption. in and fourth with For based we in the XXX,XXX receiving leases, our senior two-year These are the under second market the remaining former the prior quarter, portfolio lifestyle line quarter buildings XXX,XXX two in quarter. amounts anticipate
receiving in is we third now and but and million anticipate to set ahead in cost senior HMG will that The slightly is rent due primarily in approximately of transition former care the benefits to XXXX. expecting periods. projected each higher expectation we Our continue the quarter million third portfolio quarter, the projections, sometime in rents of of in $X.X permanent those more containment fourth the to $X fourth quarters. Accordingly, second are of
move lease, would extending the rents. and be amending permanent through our of we the As more HMG working we include year, will toward remainder which
market communities XXX,XXX quarter. of The agreed the last units call, discussed communities two in five transitioned in totaling during rent care two these term from of is memory our XX which years we first recording lease is with XXX,XXX XXXX, We As cash to quarter. the during recognized last second on half the transition starting rent. approximately mutually current on of a from first LTC operator cash quarter rent unchanged based month anticipate new upon in and fair rent Texas,
to one one quarter, the agreements sold entered quarter, and assisted into the to During skilled first sell living living Subsequent two nursing community. assisted center. we we first communities
exercised First, a million previously gross and has properties living an purchase book a $XX.X for in Accordingly, into California entered The totaling have properties million. agreement units. field million. we discussed, net assisted the $XX.X option $XX of as book to of on sell two senior the communities value XXX living value
we And the so. expect recognizing on We or $XX anticipate sale the next to million within the approximately second in of a close quarter. gain week sale
we rent This XXXX, During price. these sales GAAP cash rent represents million on X.X% implied recognize million of and an communities. of the of yield from $X.X $X.X
Second, agreement recognizing in a matures The July, we XXXX. has sell entered on gain into million XXX-bed sale a $X.X of of under quarter value value book approximately in in an nursing skilled California that center million book $XX.X and of second property for of net gross is $X.X $XX.X lease million. million. XXXX anticipate a the a a to We
of During represents XXXX, the on implied we an XXX,XXX rent rent X.X% GAAP of and This of property. from cash price. this sales yield recognized XXX,XXX
property Virginia a for book the one operator sold $XX.X connection with in the worth XX of living value a which rent. of $XX.X $X.X In quarter, gross termination equates and year’s of lease fee, to has Finally, a us book a current paid million we first net to unit subsequent The value million. million sale, community million. $XX.X the assisted
to-date. in since details with transitional million summary, to second the year, million. additional XXX subsequent recognize price. of first We yield total of a the $XX of private acquired sales expect X.X% shortly. approximately invested represents $X.X care will sale to mostly centers we on in beginning in have Texas an rooms of the end Clint of quarter. This quarter, gain provide a million we the the In on $XX.X implied the beds for four Also
have generating approximately We contracted sell in or $XX proceeds. sold million are to properties,
Moving now to debt our activity.
under million During line $XX credit. of unsecured the XXXX borrowed revolving first quarter, we our
care million million the Subsequent of $XX the borrowed borrowing additional XXXX, an As for Texas March XX, the and using transitional the we $XXX.X centers to million to had fund acquisition March million assisted proceeds with $XX outstanding under $XXX.X unit the living in line. in XX, of four community of sale from we Virginia. XX available repaid
unsecured million notes. under in our principal $X quarter, paid senior regular we payments During the scheduled
As our of during ample million quarter, $XXX $XXX credit of outstanding on $XX.X hand, dividends. of mentioned line million available on under $XXX.X available us with Wendy million providing Presently, the have cash ATM, we in million our $XXX.X million. common we approximately over paid also million liquidity and with $X.X
no have over and first of XXXX significant remain We the a of EBITDA charge fixed five times coverage XX%. debt-to-annualize credit maturities estate annualized next of years. the and metrics end ratio real solid with value long-term debt debt-to-enterprise adjusted a X.X X.X quarter, the At adjusted of times our for
our long-term times. debt-to-annualize target higher adjusted EBITDA remains for Although, estate our metric of five real below than
my our metric during from deferrals producing notes. up and senior on senior year asset to senior reductions investments today along on with care abatements. principal and from debt downs principal previously leased the pay rent unsecured And with credit start line revenue of close pay this sales trend from lower expect the comments I'll rent recent We and scheduled to downs with as lifestyle. our increased properties
first for of In have agreed a provided Further, April, of deferrals June million of from have abated $XXX,XXX receiving XXX,XXX provide to operators rent the in and each and XXX,XXX of During XXXX. total that rent us. small up provided assistance been rent XXX,XXX same abatements. of deferred we abatements May we to in and of we subset the $X.X Again rent. to quarter, rent
of detail expected for XXXX. rent, May represents Additionally, some by whose who we our top of agreed each not about rents June like the concentration in the majority Anthem reduce deferred is to to provide XX. operator from additional I’d and $XXX,XXX
and two rent master operator amended as one combined to the XX, combined XX, master agreed During with was rent April due XXXX, through lease our XXXX. master to XXXX. period lease the extend of needed $XXX,XXX leases XXXX operator to consolidated and we this into This and March during abate allow deferred deferral XXXX rent
the $XXX,XXX As such, the quarter first XXXX approximately of deferred of operator rent and million April. $X.X for in
April XXXX, operator from of due million. the this deferred approximately balance As $X.X is
abated recorded have this we have the not We rent. nor as revenue
Our include any guidance this does not portfolio. revenue from
to the address with portfolio. for as rent deferred operator a expect We resolution work the this toward we
like to turn the Clint. call to I’d over Now,
