Annual report pursuant to Section 13 and 15(d)

NOTES RECEIVABLES FROM AFFILIATES

v3.22.4
NOTES RECEIVABLES FROM AFFILIATES
 12 Months Ended
Dec. 31, 2022
Related Party Transactions [Abstract]  
NOTES RECEIVABLES FROM AFFILIATES NOTES RECEIVABLES FROM AFFILIATES
As of December 31, 2022 and 2021, the Company had the following notes receivable from affiliates outstanding (in thousands):
December 31,
2022 2021
Bridge Single-Family Rental Fund IV $ 40,566  $ — 
Bridge Office Fund II 11,000  3,000 
Bridge Office Fund I 6,500  — 
Bridge Debt Strategies Fund II 5,000  — 
Bridge Logistics U.S. Venture I —  31,644 
Bridge Multifamily Fund V —  55,000 
Bridge Seniors Housing Fund III —  24,500 
Total short-term notes receivables from affiliates $ 63,066  $ 114,144 
Notes receivables from employees 4,178  4,364 
Total notes receivable from affiliates $ 67,244  $ 118,508 
Interest on the short-term notes receivables from affiliates accrues at a weighted average fixed rate of 4.820% per annum as of December 31, 2022. As of December 31, 2022 and 2021, the Company had approximately $0.4 million and $0.3 million, respectively, of interest receivable outstanding, which is included in other assets in the accompanying consolidated balance sheets for the periods then ended.
During the years ended December 31, 2022 and 2021, the Company executed multiple notes with employees, none of whom are executive officers or immediate family members of executive officers, to invest in the Company or the Operating Company. As of December 31, 2022 and 2021, the aggregate outstanding principal amount outstanding was $4.2 million and $4.4 million, respectively. These employee notes receivables have staggered maturity dates beginning in 2027 and are interest-only for the first two years after origination, after which point they accrue interest at a rate of 4.025% per annum