Notes Receivable

3 Months Ended

Mar. 31, 2021

Notes Receivable.

Notes Receivable

4. Notes Receivable

Notes receivable consists of mezzanine loans and other loan arrangements. The following table is a summary of our notes receivable components as of March 31, 2021 and December 31, 2020 (in thousands):

	March 31, 2021		December 31, 2020
Mezzanine loans	$	7,461	$	8,445
Other loans		6,253		6,166
Notes receivable loan loss reserve		(137)		(146)
Total	$	13,577	$	14,465

The following table summarizes our notes receivable activity for the three months ended March 31, 2021 and 2020 (in thousands):

	Three Months Ended March 31,
		2021			2020
Advances under notes receivable	$	1,656	(1)	$	141
Principal payments received under notes receivable		(2,553)			—
Reclassified to lease incentives		—			(300)	(2)
Notes receivable loan loss reserve		9			1
Net decrease	$	(888)		$	(158)

(1) Funding under working capital notes with interest ranging between 5% and 8% and maturities between 2022 and 2027.

(2) Represents interim working capital loans related to development projects which matured upon completion of the development projects and commencement of the master leases.