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Loans Receivable
 12 Months Ended
Dec. 31, 2019
Mortgage Loans on Real Estate, Commercial and Consumer, Net, (Investment Based Operations Presentation) [Abstract]  
Loans Receivable Loans Receivable
The following is a summary of our loans receivable (in thousands):
 
 
Year Ended December 31,
 
 
2019
 
2018
Mortgage loans
 
$
188,062

 
$
317,443

Other real estate loans
 
124,696

 
81,268

Allowance for losses on real estate loans receivable
 
(42,376
)
 
(68,372
)
Real estate loans receivable, net of allowance
 
270,382

 
330,339

Non real estate loans
 
362,850

 
282,443

Allowance for losses on non real estate loans receivable
 
(25,996
)
 
—

Non real estate loans receivable, net of allowance(1)
 
336,854

 
282,443

Total loans receivable, net of allowance
 
$
607,236

 
$
612,782


 (1) Included in receivables and other assets on the Consolidated Balance Sheets

The following is a summary of our loan activity for the periods presented (in thousands):
 
 
Year Ended
 
 
December 31, 2019
 
December 31, 2018
 
December 31, 2017
Advances on loans receivable:
 
 
 
 
 
 
Investments in new loans
 
$
46,824

 
$
77,289

 
$
61,122

Draws on existing loans
 
72,875

 
34,759

 
40,094

Net cash advances on loans receivable
 
119,699

 
112,048

 
101,216

Receipts on loans receivable:
 
 
 
 
 
 
Loan payoffs
 
118,703

 
144,700

 
181,549

Principal payments on loans
 
9,003

 
59,235

 
33,431

Net cash receipts on loans
 
127,706

 
203,935

 
214,980

Net cash advances (receipts) on loans
 
$
(8,007
)
 
$
(91,887
)
 
$
(113,764
)


In 2016, we restructured real estate loans with Genesis Healthcare and recorded a loan loss charge in the amount of $6,935,000 on one of the loans as the present value of expected future cash flows was less than the carrying value of the loan. During 2017, we recorded an additional loan loss charge of $62,966,000 relating to real estate loans receivable from Genesis HealthCare based on an estimation of future cash flows discounted at the effective interest rate of the loans. In 2019, we recognized a provision for loan losses of $18,690,000 to fully reserve for and eventually wrote off certain Triple-net real estate loans receivable that were no longer deemed collectible. In the fourth quarter of 2019 one of the Genesis Healthcare real estate loans transitioned to a non real estate loan due to the sale of the underlying properties that served as collateral for the loan. As of December 31, 2019, the total allowance for loan loss balance of $68,372,000 is deemed to be sufficient to absorb expected losses. In addition, at December 31, 2019, we had one real estate loan with an outstanding balance of $2,534,000 on non-accrual status. No provision for loan loss has been recorded for this loan given the underlying collateral value. The following is a summary of the allowance for losses on loans receivable for the periods presented (in thousands):
 
 
Year Ended December 31,
 
 
2019
 
2018
 
2017
Balance at beginning of year
 
$
68,372

 
$
68,372

 
$
6,563

Provision for loan losses
 
18,690

 
—

 
62,966

Charge-offs
 
(18,690
)
 
—

 
—

Change in present value
 
—

 
—

 
(1,157
)
Balance at end of year
 
$
68,372

 
$
68,372

 
$
68,372



The following is a summary of our impaired loans (in thousands):
 
 
Year Ended December 31,
 
 
2019
 
2018
 
2017
Balance of impaired loans at end of year
 
$
188,018

 
$
189,272

 
$
282,882

Allowance for loan losses
 
(68,372
)
 
(68,372
)
 
(68,372
)
Balance of impaired loans not reserved
 
$
119,646

 
$
120,900

 
$
214,510

Average impaired loans for the year
 
$
192,728

 
$
236,077

 
$
330,216

Interest recognized on impaired loans(1)
 
16,235

 
17,241

 
27,793

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