17.Partnership Investments

As of December 31, 2021, the Company had invested $6.7 million in three limited liability companies managed by a a commercial real estate finance company that provides debt capital solutions to local and regional commercial real estate owners in the Northeastern United States. Each limited liability company has elected to be treated as a partnership for income tax purposes.

The Company invested $4 million in one partnership, for which it received a membership interest.The Company’s withdrawal from the partnership may only be granted by the manager. For the year ended December 31, 2021, the Company received distributions of $142,000 from this partnership.

In December 2021, the Company invested an aggregate of $2.7 million in two additional investment partnerships, which are managed by an affiliate of the manager of the partnership described in the paragraph above. In connection therewith, the Company received a 49% membership interest in each entity. The Company accounts for these investments at cost.