LOANS RECEIVABLE AND OTHER INVESTMENTS (Tables)

3 Months Ended

Mar. 31, 2019

Receivables [Abstract]

Loans Receivable and Other Investments

As of March 31, 2019 and December 31, 2018, the Company’s loans receivable and other investments consisted of the following (dollars in thousands):

											March 31, 2019
Investment	Quantity as of March 31, 2019	Property Type	Principal Balance as of March 31, 2019 (1)		Book Value as of March 31, 2019			Book Value as of December 31, 2018			Weighted Average Contractual Interest Rate / Rate of Return		Weighted Average Annualized Effective Interest Rate / Rate of Return		Maturity Date as of March 31, 2019
Loans Receivable:
Mortgage	1	Specialty Hospital	$	19,000	$	19,000		$	18,577		10.0	%	10.0	%	01/31/27
Construction	2	Senior Housing	4,887		4,945			4,629			8.0	%	7.7	%	04/30/21- 09/30/22
Mezzanine	—	Skilled Nursing	—		—			2,188			N/A		N/A		N/A
Other	17	Multiple	47,633		43,611			45,324			7.1	%	7.7	%	02/28/19- 08/31/28
	20		71,520		67,556			70,718			7.9	%	8.4	%
Loan loss reserve			—		(1,767		)	(1,258		)
			$	71,520	$	65,789		$	69,460
Other Investments:
Preferred Equity	9	Skilled Nursing / Senior Housing	43,014		43,425			44,262			12.0	%	12.0	%	N/A
Total	29		$	114,534	$	109,214		$	113,722		9.4	%	9.8	%

⁽¹⁾  Principal balance includes amounts funded and accrued but unpaid interest / preferred return and excludes capitalizable fees.

Changes in Accretable Yield of Loans with Deteriorated Credit Quality

The following table presents changes in the accretable yield for the three months ended March 31, 2019 and 2018 (in thousands):

	Three Months Ended March 31,
	2019			2018
Accretable yield, beginning of period	$	449		$	2,483
Accretion recognized in earnings	(218		)	(599		)
Reduction due to payoff	(33		)	—
Accretable yield, end of period	$	198		$	1,884