Mortgage And Other Notes Receivable (Tables)

12 Months Ended

Dec. 31, 2020

Mortgage and Other Notes Receivable [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable (Schedule of New Notes, Loans and Financing Receivables) [Table Text Block]

During the year ended December 31, 2020 we made the following note receivable investments and commitments as described below ($ in thousands):

Operator	Date	Properties	Asset Class	Amount		Funded		Remaining
Note Investments
Timber Ridge OpCo (See Note 5)	Q1 2020	1	SHO	$	5,000	$	—	$	5,000
Bickford Senior Living (See Note 3)	Q1 2020	2	SHO	4,000		(4,000)		—
Bickford Senior Living	Q2 2020	1	SHO	14,200		(1,918)		12,282
Watermark Retirement	Q2 2020	2	SHO	5,000		—		5,000
41 Management	Q4 2020	1	SHO	22,200		(4,040)		18,160
				$	50,400	$	(9,958)	$	40,442

Prior Year Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

During the year ended December 31, 2019 we made the following note receivable investments and commitments as described below ($ in thousands):

Operator	Date	Properties	Asset Class	Amount		Funded		Remaining
Note Investments
Senior Living Communities	Q2 2019	1	SHO	$	32,700	$	(32,700)	$	—
41 Management	Q2 2019	1	SHO	10,800		(8,717)		2,083
Discovery Senior Living	Q3 2019	1	SHO	750		(750)		—
Discovery Senior Living	Q3 2019	1	SHO	6,423		(6,423)		—
41 Management	Q4 2019	1	SHO	3,870		(3,870)		—
				$	54,543	$	(52,460)	$	2,083

Schedule of Loan Receivables from Bickford [Table Text Block]

At December 31, 2020, our construction loans to Bickford Senior Living are summarized as follows ($ in thousands):

Commencement	Rate	Maturity	Commitment		Drawn		Location
January 2018	9%	5 years	14,000		(14,000)		Virginia
July 2018	9%	5 years	14,700		(14,548)		Michigan
June 2020	9%	5 years	14,200		(1,918)		Virginia
			$	42,900	$	(30,466)

Financing Receivable Credit Quality Indicators

The credit quality indicator as of September 30, 2020, is presented below for the amortized cost, net by year of origination ($ in thousands):

	2020		2019		2018		2017		2016		Prior		Total
Mortgages
more than 1.5x	$	5,755	$	8,643	$	187,362	$	—	$	—	$	4,608	$	206,368
between 1.0x and 1.5x	—		—		—		—		10,000		—		10,000
below 1.0x	4,000		39,123		—		—		—		—		43,123
No coverage available	—		—		—		—		—		—		—
	9,755		47,766		187,362		—		10,000		4,608		259,491
Mezzanine
more than 1.5x	—		—		—		—		—		—		—
between 1.0x and 1.5x	—		—		—		—		—		—		—
below 1.0x	—		—		—		—		14,485		11,367		25,852
No coverage available	—		750		—		—		—		—		750
	—		750		—		—		14,485		11,367		26,602
Revolver
more than 1.5x													—
between 1.0x and 1.5x													11,280
below 1.0x													—
													11,280
									Credit loss reserve				(4,946)
													$	292,427

Schedule of Financing Receivable, Allowance for Credit Loss, Roll Forward

The allowance for expected credit losses for our commercial loans is presented in the following table for the year ended December 31, 2020 ($ in thousands):

Beginning balance January 1, 2020 (upon adoption of ASU 2016-13)	$	3,900
Additions for expected credit losses	1,639
Deduction for expected credit losses	(593)
Balance December 31, 2020	$	4,946