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Loans Receivable
 6 Months Ended
Jun. 30, 2023
Receivables [Abstract]  
Loans Receivable Loans ReceivableLoans receivable are recorded on our Consolidated Balance Sheets in real estate loans receivable, net of allowance for credit losses, or for non-real estate loans receivable, in receivables and other assets. Real estate loans receivable consists of mortgage loans and other real estate loans which are primarily collateralized by a first, second or third mortgage lien, a leasehold mortgage on, or an assignment of the partnership interest in, the related properties, as well as corporate guarantees and/or personal guarantees. Non-real estate loans are generally corporate loans with no real estate backing. Interest income on loans is recognized as earned based upon the principal amount outstanding subject to an evaluation of the risk of credit loss. Accrued interest receivable was $26,641,000 and $22,878,000 as of June 30, 2023 and December 31, 2022, respectively, and is included in receivables and other assets on the Consolidated Balance Sheets. The following is a summary of our loans receivable (in thousands):
 June 30, 2023December 31, 2022
Mortgage loans$738,496 $707,464 
Other real estate loans239,920 195,566 
Allowance for credit losses on real estate loans receivable(12,907)(12,186)
Real estate loans receivable, net of credit allowance965,509 890,844 
Non-real estate loans470,786 441,231 
Allowance for credit losses on non-real estate loans receivable(173,433)(152,063)
Non-real estate loans receivable, net of credit allowance297,353 289,168 
Total loans receivable, net of credit allowance$1,262,862 $1,180,012 
The following is a summary of our loan activity for the periods presented (in thousands):    
 Six Months Ended
 June 30, 2023June 30, 2022
Advances on loans receivable$76,397 $117,565 
Less: Receipts on loans receivable46,493 161,180 
Net cash advances (receipts) on loans receivable$29,904 $(43,615)
The allowance for credit losses on loans receivable is maintained at a level believed adequate to absorb potential losses in our loans receivable. The determination of the credit allowance is based on a quarterly evaluation of each of these loans, including general economic conditions and estimated collectability of loan payments. We evaluate the collectability of our loans receivable based on a combination of credit quality indicators, including, but not limited to, payment status, historical loan charge-offs, financial strength of the borrower and guarantors, and nature, extent, and value of the underlying collateral.
A loan is considered to have deteriorated credit quality when, based on current information and events, it is probable that we will be unable to collect all amounts due as scheduled according to the contractual terms of the loan agreement. For those loans we identified as having deteriorated credit quality, we determine the amount of credit loss on an individual basis. Placement on non-accrual status may be required. Consistent with this definition, all loans on non-accrual are deemed to have deteriorated credit quality. To the extent circumstances improve and the risk of collectability is diminished, we will return these loans to income accrual status. While a loan is on non-accrual status, any cash receipts are applied against the outstanding principal balance.
For the remaining loans we assess credit loss on a collective pool basis and use our historical loss experience for similar loans to determine the reserve for credit losses. The following is a summary of our loans by credit loss category (in thousands):
June 30, 2023
Loan categoryYears of OriginationLoan Carrying ValueAllowance for Credit LossNet Loan BalanceNo. of Loans
Deteriorated loans2007 - 2023$213,105 $(169,978)$43,127 8 
Collective loan pool2007 - 2018216,440 (2,878)213,562 12 
Collective loan pool201923,397 (311)23,086 4 
Collective loan pool202033,891 (451)33,440 6 
Collective loan pool2021783,161 (10,339)772,822 14 
Collective loan pool2022118,720 (1,579)117,141 29 
Collective loan pool202360,488 (804)59,684 7 
Total loans$1,449,202 $(186,340)$1,262,862 80 
The total allowance for credit losses balance is deemed sufficient to absorb expected losses relating to our loan portfolio. The following is a summary of the allowance for credit losses on loans receivable for the periods presented (in thousands):                            
Six Months Ended
June 30, 2023June 30, 2022
Balance at beginning of period$164,249 $166,785 
Provision for loan losses, net3,233 (639)
Purchased deteriorated loan19,077 — 
Foreign currency translation(219)(1,063)
Balance at end of period$186,340 $165,083