Real Estate Loans Receivable

9 Months Ended

Sep. 30, 2014

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, 2014						September 30, 2013
		Seniors						Seniors
		Housing		Medical				Housing		Medical
		Triple-net		Facilities		Totals		Triple-net		Facilities		Totals
Advances on real estate loans receivable:
	Investments in new loans	$	10,674	$	-	$	10,674	$	27,392	$	4,095	$	31,487
	Draws on existing loans		48,055		20,535		68,590		42,772		3,077		45,849
	Net cash advances on real estate loans		58,729		20,535		79,264		70,164		7,172		77,336
Receipts on real estate loans receivable:
	Loan payoffs		3,950		62,608		66,558		65,768		646		66,414
	Principal payments on loans		21,306		4,240		25,546		16,972		2,169		19,141
	Sub-total		25,256		66,848		92,104		82,740		2,815		85,555
	Less: Non-cash activity(1)		-		(45,836)		(45,836)		-		-		-
	Net cash receipts on real estate loans		25,256		21,012		46,268		82,740		2,815		85,555
Net cash advances (receipts) on real estate loans			33,473		(477)		32,996		(12,576)		4,357		(8,219)
Change in balance due to foreign currency translation			(1,085)		-		(1,085)		765		-		765
Net change in real estate loans receivable		$	32,388	$	(46,313)	$	(13,925)	$	(11,811)	$	4,357	$	(7,454)
(1) Represents an acquisition of assets previously financed as a real estate loan. Please see Note 3 for additional information.

We recorded no provision for loan losses during the nine months ended September 30, 2014. At September 30, 2014, there were no real estate loans with outstanding balances on non-accrual status and no allowances for loan losses were recorded.