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Loans Receivable (Tables)
 9 Months Ended
Sep. 30, 2021
Receivables [Abstract]  
Summary of Loans Receivable The following is a summary of our loans receivable (in thousands):
 September 30, 2021December 31, 2020
Mortgage loans$957,114 $299,430 
Other real estate loans174,078 152,739 
Allowance for credit losses on real estate loans receivable(15,547)(8,797)
Real estate loans receivable, net of credit allowance1,115,645 443,372 
Non-real estate loans362,077 455,508 
Allowance for credit losses on non-real estate loans receivable(151,255)(215,239)
Non-real estate loans receivable, net of credit allowance210,822 240,269 
Total loans receivable, net of credit allowance$1,326,467 $683,641 
Summary of Loan Activity
The following is a summary of our loan activity for the periods presented (in thousands):    
 Nine Months Ended
 September 30, 2021September 30, 2020
Advances on loans receivable:
Investments in new loans
$935,594 $194,942 
Draws on existing loans
17,412 21,365 
Net cash advances on loans receivable
953,006 216,307 
Receipts on loans receivable:
Loan payoffs
179,827 — 
Principal payments on loans
70,588 14,345 
Net cash receipts on loans receivable250,415 14,345 
Net cash advances (receipts) on loans receivable$702,591 $201,962 
Schedule of Credit Loss The following is a summary of our loans by credit loss category (in thousands):
September 30, 2021
Loan categoryYears of OriginationLoan Carrying ValueAllowance for Credit LossNet Loan BalanceNo. of Loans
Deteriorated loans2007 - 2018$178,301 $(148,438)$29,863 3 
Collective loan pool2007-2016201,939 (3,061)198,878 17 
Collective loan pool2017125,661 (1,127)124,534 7 
Collective loan pool201823,263 (346)22,917 2 
Collective loan pool201922,047 (334)21,713 4 
Collective loan pool202046,335 (703)45,632 6 
Collective loan pool2021895,723 (12,793)882,930 17 
Total loans$1,493,269 $(166,802)$1,326,467 56 
The following is a summary of the allowance for credit losses on loans receivable for the periods presented (in thousands):                                    
Nine Months Ended
September 30, 2021September 30, 2020
Balance at beginning of period$224,036 $68,372 
Adoption of ASU 2016-13— 5,212 
Provision for loan losses7,309 11,351 
Loan write-offs (1)
(64,075)— 
Foreign currency translation(468)(40)
Balance at end of period$166,802 $84,895 
(1) Includes $64,075,000 related to the Genesis Healthcare lease terminations for the nine months ended September 30, 2021. See Note 9 for further details.
Summary of Impaired Loans
The following is a summary of our deteriorated loans (in thousands):
 Nine Months Ended
 September 30, 2021September 30, 2020
Balance of deteriorated loans at end of period (1)
$178,301 $249,314 
Allowance for credit losses(148,438)(76,695)
Balance of deteriorated loans not reserved$29,863 $172,619 
Interest recognized on deteriorated loans (2)
$3,171 $13,847 
(1) Current year amounts include $2,157,000 and $3,623,000 of loans on non-accrual as of September 30, 2021 and December 31, 2020, respectively. Prior year amounts include $10,686,000 and $2,534,000 as of September 30, 2020 and December 31, 2019, respectively.
(2) Represents cash interest recognized in the period.