Real Estate Loans Receivable (Tables)

9 Months Ended

Sep. 30, 2018

Mortgage Loans on Real Estate, Commercial and Consumer, Net, (Investment Based Operations Presentation) [Abstract]

Summary of real estate loan activity

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

	Nine Months Ended
	September 30, 2018										September 30, 2017
	Triple-net			Seniors Housing Operating		Outpatient Medical		Totals			Triple-net			Outpatient Medical			Totals
Advances on real estate loans receivable:
Investments in new loans	$	10,628		$	11,806	$	14,993	$	37,427		$	11,315		$	—		$	11,315
Draws on existing loans	29,709			—		—		29,709			58,736			—			58,736
Net cash advances on real estate loans	40,337			11,806		14,993		67,136			70,051			—			70,051
Receipts on real estate loans receivable:
Loan payoffs	116,161			—		—		116,161			142,392			60,500			202,892
Principal payments on loans	33,431			—		—		33,431			1,121			—			1,121
Sub-total	149,592			—		—		149,592			143,513			60,500			204,013
Less: Non-cash activity(1)	—			—		—		—			(61,250		)	(60,500		)	(121,750		)
Net cash receipts on real estate loans	149,592			—		—		149,592			82,263			—			82,263
Net cash advances (receipts) on real estate loans	$	(109,255	)	$	11,806	$	14,993	$	(82,456	)	$	(12,212	)	$	—		$	(12,212	)

⁽¹⁾ Triple-net represents acquisitions of assets previously financed as real estate loans. Please see Note 3 for additional information. Outpatient medical represents a deed in lieu of foreclosure on a previously financed first mortgage property.

Summary of impaired loans

	Nine Months Ended
	September 30, 2018		September 30, 2017
Balance of impaired loans at end of period	$	201,971	$	282,929
Allowance for loan losses	68,372		5,406
Balance of impaired loans not reserved	$	133,599	$	277,523
Average impaired loans for the period	$	230,645	$	324,255
Interest recognized on impaired loans(1)	13,361		23,957

⁽¹⁾ Represents cash interest recognized in the period since loans were identified as impaired.