Loans Receivable (Tables)

12 Months Ended

Dec. 31, 2019

Receivables [Abstract]

Schedule of loans receivable (in thousands)

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

	December 31,
	2019						2018
	Real Estate Secured		Other Secured		Total		Real Estate Secured		Other Secured			Total
Mezzanine	$	—	$	27,752	$	27,752	$	—	$	21,013		$	21,013
Participating development loans and other(1)	161,964		—		161,964		42,037		—			42,037
Unamortized discounts, fees, and costs	—		863		863		—		(52		)	(52		)
	$	161,964	$	28,615	$	190,579	$	42,037	$	20,961		$	62,998

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(1)

At December 31, 2019, the Company had $25 million remaining of commitments to fund $174 million of senior housing development projects. At December 31, 2018, the Company had $73 million remaining of commitments to fund a $115 million senior housing development project.

Summary of th Company's internal ratings for loans receivable

The following table summarizes the Company’s internal ratings for DFLs at December 31, 2019 (dollars in thousands):

				Internal Ratings
Segment	Carrying Amount		Percentage of DFL Portfolio	Performing DFLs		Watch List DFLs		Workout DFLs
Other non-reportable segments	$	84,604	100	$	84,604	—		—
	$	84,604	100	$	84,604	$	—	$	—

The following table summarizes the Company’s internal ratings for loans receivable at December 31, 2019 (dollars in thousands):

	Carrying Amount		Percentage of Loan Portfolio	Internal Ratings
Investment Type				Performing Loans		Watch List Loans		Workout Loans
Real estate secured	$	161,964	85	$	161,964	$	—	$	—
Other secured	28,615		15	28,615		—		—
	$	190,579	100	$	190,579	$	—	$	—

Schedule of loans receivable secured by real estate

The following table summarizes the Company’s loans receivable secured by real estate at December 31, 2019 (dollars in thousands):

Final Maturity Date	Number of Loans	Payment Terms	Principal Amount(1)		Carrying Amount
2021	1	Monthly interest-only payments, accrues interest at 7.5% and secured by a senior housing facility under development in Texas	$	2,250	$	2,250
2021	1	Monthly interest-only payments, accrues interest at 7.5% and secured by a senior housing facility under development in Florida	8,290		8,290
2022	1	Monthly interest-only payments, accrues interest at 6.5% and secured by a senior housing facility under development in Washington(2)	102,412		102,412
2022	1	Monthly interest-only payments, accrues interest at 5.75% and secured by a senior housing facility in Illinois	4,200		4,200
2026	1	Monthly interest-only payments, accrues interest at the greater of 2% or LIBOR, plus 4.25% and secured by a senior housing facility in Florida	44,812		44,812
	5		$	161,964	$	161,964

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(1) Represents future contractual principal payments to be received on loans receivable secured by real estate.

(2)

Contains a participation feature that allows the Company to participate in up to 20% of the appreciation of the asset through the time the loan is refinanced or repaid.