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Loans Receivable (Tables)
 6 Months Ended
Jun. 30, 2021
Receivables [Abstract]  
Summary of Loans Receivable The following is a summary of our loans receivable (in thousands):
 June 30, 2021December 31, 2020
Mortgage loans$935,572 $299,430 
Other real estate loans179,462 152,739 
Allowance for credit losses on real estate loans receivable(17,735)(8,797)
Real estate loans receivable, net of credit allowance1,097,299 443,372 
Non-real estate loans348,061 455,508 
Allowance for credit losses on non-real estate loans receivable(149,697)(215,239)
Non-real estate loans receivable, net of credit allowance198,364 240,269 
Total loans receivable, net of credit allowance$1,295,663 $683,641 
Summary of Loan Activity
The following is a summary of our loan activity for the periods presented (in thousands):    
 Six Months Ended
 June 30, 2021June 30, 2020
Advances on loans receivable:
Investments in new loans
$902,189 $2,477 
Draws on existing loans
16,218 17,061 
Net cash advances on loans receivable
918,407 19,538 
Receipts on loans receivable:
Loan payoffs
179,827 — 
Principal payments on loans
69,014 12,796 
Net cash receipts on loans receivable248,841 12,796 
Net cash advances (receipts) on loans receivable$669,566 $6,742 
Schedule of Credit Loss The following is a summary of our loans by credit loss category (in thousands):
June 30, 2021
Loan categoryYears of OriginationLoan Carrying ValueAllowance for Credit LossNet Loan BalanceNo. of Loans
Deteriorated loans2007 - 2018$178,253 $(148,438)$29,815 3 
Collective loan pool2007-2016198,975 (3,033)195,942 17 
Collective loan pool2017126,493 (1,182)125,311 7 
Collective loan pool201820,652 (324)20,328 1 
Collective loan pool201922,046 (347)21,699 4 
Collective loan pool202049,352 (770)48,582 8 
Collective loan pool2021867,324 (13,338)853,986 9 
Total loans$1,463,095 $(167,432)$1,295,663 49 
The following is a summary of the allowance for credit losses on loans receivable for the periods presented (in thousands):                                    
Six Months Ended
June 30, 2021June 30, 2020
Balance at beginning of period$224,036 $68,372 
Adoption of ASU 2016-13— 5,212 
Provision for loan losses7,580 8,494 
Loan write-offs (1)
(64,075)— 
Foreign currency translation(109)(93)
Balance at end of period$167,432 $81,985 
(1) Includes $62,753,000 related to the Genesis Healthcare lease terminations for the six months ended June 30, 2021. See Note 9 for further details.
Summary of Impaired Loans
The following is a summary of our deteriorated loans (in thousands):
 Six Months Ended
 June 30, 2021June 30, 2020
Balance of deteriorated loans at end of period (1)
$178,253 $186,584 
Allowance for credit losses(148,438)(76,695)
Balance of deteriorated loans not reserved$29,815 $109,889 
Interest recognized on deteriorated loans (2)
$3,122 $7,912 
(1) Current year amounts include $2,176,000 and $3,623,000 of loans on non-accrual as of June 30, 2021 and December 31, 2020, respectively. Prior year amounts include $10,716,000 and $2,534,000 as of June 30, 2020 and December 31, 2019, respectively.
(2) Represents cash interest recognized in the period.