Investment in Mortgage Notes

12 Months Ended

Dec. 31, 2019

Financing Receivable, after Allowance for Credit Loss [Abstract]

Investment In Mortgage Notes Disclosure [Text Block]

Accounts Receivable

The following table summarizes the carrying amounts of accounts receivable as of December 31, 2019 and 2018 (in thousands):

	2019		2018
Receivable from tenants	$	11,373	$	12,158
Receivable from non-tenants	2,103		1,379
Receivable from Sullivan County Infrastructure Revenue Bonds	—		11,500
Straight-line rent receivable (1)	73,382		73,332
Total	$	86,858	$	98,369

(1) At December 31, 2019, includes $24.6 million in sub-lessor straight-line rent receivables. Sub-lessor straight-line receivables relate to the Company's operating ground leases. The Company's tenants, who are generally sub-tenants under these ground leases, are responsible for paying the rent under these leases. See Note 16 for information related to the Company's leases.

Investment in Mortgage Notes

Investment in mortgage notes, including related accrued interest receivable, at December 31, 2019 and 2018 consists of the following (in thousands):

Description	Interest Rate		Payoff Date/Maturity Date	Periodic Payment Terms	Outstanding principal amount of mortgage		Carrying amount as of December 31,
							2019		2018
Three attraction properties Kansas City, Kansas, New Braunfels, Texas and South Padre Island, Texas (1)	7.00% and 10.00%		7/1/2019	Paid in full	—		—		179,846
Public charter school property Jersey City, New Jersey (2)	10.00	%	7/10/2019	Prepaid in full	—		—		15,652
Public charter school property Vineland, New Jersey (3)	9.95	%	11/1/2019	Prepaid in full	—		—		9,839
Eight public charter school properties Indiana, Ohio, South Carolina and Pennsylvania (4)	7.00	%	11/22/2019	(4)	—		—		54,535
Public charter school property St. Paul, Minnesota (4)	8.93% to 9.38%		11/22/2019	(4)	—		—		8,835
Public charter school property Millville, New Jersey (4)	10.35	%	11/22/2019	(4)	—		—		6,383
Public charter school property Roswell, Georgia (4)	9.10	%	11/22/2019	(4)	—		—		4,165
Public charter school property Atlanta, Georgia (4)	8.84	%	11/22/2019	(4)	—		—		4,236
Public charter school property Bronx, New York (4)	8.75	%	11/22/2019	(4)	—		—		23,718
Public charter school property Colorado Springs, Colorado (4)	9.02	%	11/22/2019	(4)	—		—		14,325
Attraction property Powells Point, North Carolina	7.75	%	6/30/2025	Interest only	27,423		27,423		—
Fitness & wellness property Omaha, Nebraska	7.85	%	12/28/2026	Interest only	5,766		5,803		5,803
Fitness & wellness property Omaha, Nebraska	7.85	%	1/3/2027	Interest only	10,905		10,977		10,977
Fitness & wellness property Merriam, Kansas	7.55	%	7/31/2029	Interest only	5,950		5,985		—
Ski property Girdwood, Alaska	8.25	%	12/31/2029	Interest only	37,000		37,000		—
Experiential lodging property Nashville, Tennessee	6.99	%	9/30/2031	Interest only	70,000		70,396		—
Eat & play property Austin, Texas	11.31	%	6/1/2033	Principal & Interest-fully amortizing	11,582		11,582		11,934
Ski property West Dover and Wilmington, Vermont	11.61	%	12/1/2034	Interest only	51,050		51,050		51,050
Four ski properties Ohio and Pennsylvania	10.75	%	12/1/2034	Interest only	37,562		37,562		37,562
Ski property Chesterland, Ohio	11.21	%	12/1/2034	Interest only	4,550		4,550		4,550
Ski property Hunter, New York	8.43	%	1/5/2036	Interest only	21,000		21,000		21,000
Eat & play property Midvale, Utah	10.25	%	5/31/2036	Interest only	17,505		17,505		17,505
Eat & play property West Chester, Ohio	9.75	%	8/1/2036	Interest only	18,068		18,068		18,068
Private school property Mableton, Georgia	8.84	%	4/30/2037	Interest only	4,674		5,048		4,952
Fitness & wellness property Fort Collins, Colorado	7.85	%	1/31/2038	Interest only	10,292		10,360		10,360
Early childhood education center Lake Mary, Florida	7.75	%	5/9/2039	Interest only	4,200		4,258		—
Eat & play property Eugene, Oregon	8.125	%	6/17/2039	Interest only	14,700		14,800		—
Early childhood education center Lithia, Florida	8.25	%	10/31/2039	Interest only	3,956		4,024		2,172
					$	356,183	$	357,391	$	517,467

(1) On July 1, 2019, the Company received $189.8 million in proceeds representing payment in full on mortgage notes receivable from SVVI, LLC (Schlitterbahn Group) that were secured by three attraction properties. There were no prepayment fees received in connection with these note payoffs.

(2) On July 10, 2019, the Company received $17.8 million in proceeds representing prepayment in full on a mortgage note receivable that was secured by one public charter school located in Jersey City, New Jersey. In connection with the prepayment of this note, the Company recognized a prepayment fee of $1.8 million that is included in mortgage and other financing income in the accompanying consolidated statements of income and comprehensive income for the year ended December 31, 2019.

(3) On November 1, 2019, the Company received $9.8 million in proceeds representing prepayment in full on a mortgage note receivable that was secured by one public charter school located in Vineland, New Jersey. No prepayment fee was received in connection with this note payoff.

(4) On November 22, 2019, the Company completed the sale of substantially all of its public charter school portfolio which included seven mortgage notes receivable that were secured by 14 public charter school properties. No prepayment fees were received in connection with the sale of these notes. See Note 3 for additional information related to the sale and Note 4 for additional information related to the impairment recognized related to this sale.