Loans Receivable (Tables) (Loans receivable)

3 Months Ended

Mar. 31, 2014

Loans receivable

The following table summarizes the Company’s loans receivable (in thousands):

	March 31, 2014								December 31, 2013
	Real Estate Secured		Other Secured			Total			Real Estate Secured		Other Secured			Total
Mezzanine	$	—	$	234,455		$	234,455		$	—	$	234,455		$	234,455
Other(1)	152,759		—			152,759			147,669		—			147,669
Unamortized discounts, fees and costs	—		(2,632		)	(2,632		)	—		(2,713		)	(2,713		)
Allowance for loan losses	—		(13,410		)	(13,410		)	—		(13,410		)	(13,410		)
	$	152,759	$	218,413		$	371,172		$	147,669	$	218,332		$	366,001

(1) Includes $123 million and $117 million at March 31, 2014 and December 31, 2013, respectively, of construction loans outstanding related to senior housing development projects. At March 31, 2014, the Company had $25 million remaining in its commitments to fund development projects.

Summary of the Company's internal ratings for loans receivable

The following table summarizes the Company’s internal ratings for loans receivable at March 31, 2014 (in thousands):

	Carrying		Percentage of Loan	Internal Ratings
Investment Type	Amount		Portfolio	Performing Loans		Watch List Loans		Workout Loans
Real estate secured	$	152,759	41	$	152,759	$	—	$	—
Other secured	218,413		59	200,342		—		18,071
	$	371,172	100	$	353,101	$	—	$	18,071

Schedule of reconciliation of the allowance

A reconciliation of the Company’s allowance related to the Company’s senior secured loan to Delphis follows (in thousands):

	Amount
Balance at January 1, 2014	$	13,410
Additions	—
Balance at March 31, 2014	$	13,410