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Loans Receivable (Tables)
 12 Months Ended
Dec. 31, 2022
Receivables [Abstract]  
Schedule of Loans Receivable
The following table summarizes the Company’s loans receivable (in thousands):
December 31,
 20222021
Secured loans(1)
$350,837 $396,281 
Mezzanine and other33,083 25,529 
Unamortized discounts, fees, and costs(808)(4,186)
Reserve for loan losses(8,280)(1,813)
Loans receivable, net$374,832 $415,811 
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(1)At December 31, 2022 and 2021, the Company had $40 million and $58 million, respectively, remaining of commitments to fund additional loans for senior housing redevelopment and capital expenditure projects.
Summary of the Company's Internal Ratings for Loans Receivable on Net of Reserves for Loan Losses
The following table summarizes, by year of origination, the Company’s internal ratings for loans receivable, net of unamortized discounts, fees, and reserves for loan losses, as of December 31, 2022 (in thousands):
Investment TypeYear of OriginationTotal
20222021202020192018Prior
Secured loans
Risk rating:
Performing loans$— $266,197 $75,552 $— $— $— $341,749 
Watch list loans— — — — — — — 
Workout loans— — — — — — — 
Total secured loans$— $266,197 $75,552 $— $— $— $341,749 
Mezzanine and other
Risk rating:
Performing loans$32,410 $595 $78 $— $— $— $33,083 
Watch list loans— — — — — — — 
Workout loans— — — — — — — 
Total mezzanine and other$32,410 $595 $78 $— $— $— $33,083 
Schedule of Financing Receivable, Allowance for Credit Loss
The following table summarizes the Company’s reserve for loan losses (in thousands):
 December 31, 2022December 31, 2021
 Secured LoansMezzanine and OtherTotalSecured LoansMezzanine and OtherTotal
Reserve for loan losses, beginning of period$1,804 $9 $1,813 $3,152 $7,128 $10,280 
Provision for expected loan losses6,527 7 6,534 793 896 1,689 
Expected loan losses related to loans sold or repaid(1)
(51)(16)(67)(2,141)(8,015)(10,156)
Reserve for loan losses, end of period$8,280 $— $8,280 $1,804 $9 $1,813 
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(1)Includes two loans sold or repaid during the year ended December 31, 2022 and six loans sold or repaid during the year ended December 31, 2021.