LOANS RECEIVABLE AND OTHER INVESTMENTS

3 Months Ended

Mar. 31, 2016

Loans Receivable and Other Investments [Abstract]

LOANS RECEIVABLE AND OTHER INVESTMENTS

LOANS RECEIVABLE AND OTHER INVESTMENTS

As of March 31, 2016 and December 31, 2015, the Company’s loans receivable and other investments consisted of the following (dollars in thousands):

Investment	Quantity	Facility Type	Principal Balance / Amount Funded as of March 31, 2016		Book Value as of March 31, 2016			Book Value as of December 31, 2015			Weighted Average Contractual Interest Rate / Rate of Return		Weighted Average Annualized Effective Interest Rate / Rate of Return		Maturity Dates
Loans Receivable:
Mortgage	8	Skilled Nursing / Senior Housing / Acute Care Hospital	$	166,610	$	166,795		$	166,277		8.4	%	8.2	%	6/30/16- 4/30/18
Construction	4	Acute Care Hospital / Senior Housing	75,380		75,526			75,201			14.0	%	13.9	%	9/30/16 - 3/31/21
Mezzanine	1	Skilled Nursing / Senior Housing	9,640		9,672			15,613			11.0	%	10.8	%	08/31/17
Pre-development	3	Senior Housing	3,767		3,839			3,768			9.0	%	7.7	%	1/28/17 - 9/09/17
Debtor-in-possession	1	Acute Care Hospital	16,418		16,418			13,625			5.0	%	5.0	%	NA
	17		271,815		272,250			274,484			9.8	%	9.7	%
Loan loss reserve			—		(6,700		)	(4,300		)
			$	271,815	$	265,550		$	270,184
Other Investments:
Preferred Equity	10	Skilled Nursing / Senior Housing	31,608		31,958			29,993			13.1	%	13.1	%	N/A
Total	27		$	303,423	$	297,508		$	300,177		10.1	%	10.1	%

As of March 31, 2016, the Company considered two loan receivable investments with principal balances totaling $29.8 million to be impaired and recorded a $2.3 million provision for loan losses related to these loans during the three months ended March 31, 2016. During the three months ended March 31, 2016, the Company recorded a $0.1 million provision for portfolio-based loan losses. The Company's specific loan loss reserve and portfolio-based loan loss reserve were $4.8 million and $1.9 million, respectively, as of March 31, 2016. There was no specific loan loss reserve or portfolio-based loan loss reserve as of March 31, 2015. In addition, as of March 31, 2016 and December 31, 2015, two loan receivable investments totaling $123.5 million were on nonaccrual status and one loan receivable investment of $60.9 million was over 90 days past due but on accrual status.