Real Estate Loans Receivable

3 Months Ended

Sep. 30, 2012

Real Estate Loans Receivable [Abstract]

Real Estate Loans Receivable

6. Real Estate Loans Receivable

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

		Nine Months Ended
		September 30, 2012								September 30, 2011
		Seniors						Seniors
		Housing		Medical				Housing		Medical
		Triple-net		Facilities		Totals		Triple-net		Facilities		Totals
Advances on real estate loans receivable:
	Investments in new loans	$	1,154	$	0	$	1,154	$	13,129	$	0	$	13,129
	Draws on existing loans		33,710		1,030		34,740		15,308		8,067		23,375
	Net cash advances on real estate loans		34,864		1,030		35,894		28,437		8,067		36,504
Receipts on real estate loans receivable:
	Loan payoffs		450		0		450		129,860		2,943		132,803
	Principal payments on loans		14,204		1,923		16,127		11,618		4,598		16,216
	Total receipts on real estate loans		14,654		1,923		16,577		141,478		7,541		149,019
Net advances (receipts) on real estate loans		$	20,210	$	(893)	$	19,317	$	(113,041)	$	526	$	(112,515)

During our third quarter loan loss evaluation, new factors arose including change in intent regarding collateral and updated appraisal that, under the circumstances, resulted in the determination to write-off $27,008,000 of loans. Additionally, at September 30, 2012, we had real estate loans with outstanding balances of $13,035,000on non-accrual status with an allowance for loan losses of $0.