Real Estate Loans Receivable

12 Months Ended

Dec. 31, 2015

Real Estate Loans Receivable [Abstract]

Real Estate Loans Receivable

6. Real Estate Loans Receivable

The following is a summary of our real estate loans receivable (in thousands):

		December 31,
	2015		2014
Mortgage loans	$	635,492	$	188,651
Other real estate loans		184,000		191,518
Totals	$	819,492	$	380,169

The following is a summary of our real estate loan activityfor the periods presented (in thousands):

		Year Ended
		December 31, 2015						December 31, 2014						December 31, 2013
				Outpatient						Outpatient						Outpatient
		Triple-net		Medical		Totals		Triple-net		Medical		Totals		Triple-net		Medical		Totals
Advances on real estate loans receivable:
	Investments in new loans	$	530,497	$	-	$	530,497	$	61,730	$	60,902	$	122,632	$	41,180	$	4,095	$	45,275
	Draws on existing loans		65,614		2,611		68,225		59,420		20,155		79,575		71,315		4,319		75,634
	Sub-total		596,111		2,611		598,722		121,150		81,057		202,207		112,495		8,414		120,909
	Less: Seller financing on property sales		-		-		-		-		-		-		(3,850)		-		(3,850)
	Net cash advances on real estate loans		596,111		2,611		598,722		121,150		81,057		202,207		108,645		8,414		117,059
Receipts on real estate loans receivable:
	Loan payoffs		121,778		-		121,778		71,004		48,258		119,262		69,596		-		69,596
	Principal payments on loans		33,340		-		33,340		31,998		72		32,070		33,216		74		33,290
	Sub-total		155,118		-		155,118		103,002		48,330		151,332		102,812		74		102,886
	Less: Non-cash activity(1)		(23,288)		-		(23,288)		-		(45,836)		(45,836)		-		-		-
	Net cash receipts on real estate loans		131,830		-		131,830		103,002		2,494		105,496		102,812		74		102,886
Net cash advances (receipts) on real estate loans			464,281		2,611		466,892		18,148		78,563		96,711		5,833		8,340		14,173
Change in balance due to foreign currency translation			(4,281)		-		(4,281)		(2,852)		-		(2,852)		1,402		-		1,402
Net change in real estate loans receivable		$	436,712	$	2,611	$	439,323	$	15,296	$	32,727	$	48,023	$	7,235	$	8,340	$	15,575
(1) Represents an acquisition of assets previously financed as a real estate loan. Please see Note 3 for additional information.

     The following is a summary of the allowance for losses on loansreceivable for the periods presented (in thousands):

		Year Ended December 31,
	2015		2014		2013
Balance at beginning of year	$	-	$	-	$	-
Provision for loan losses		-		-		2,110
Charge-offs		-		-		(2,110)
Balance at end of year	$	-	$	-	$	-

The following is a summary of our loan impairments (in thousands):

		Year Ended December 31,
	2015		2014		2013
Balance of impaired loans at end of year	$	-	$	21,000	$	500
Allowance for loan losses		-		-		-
Balance of impaired loans not reserved	$	-	$	21,000	$	500
Average impaired loans for the year	$	10,500	$	10,750	$	2,365
Interest recognized on impaired loans(1)		-		757		206
(1) Represents interest recognized prior to placement on non-accrual status.