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Loans Receivable (Tables) (Loans receivable)

6 Months Ended

Jun. 30, 2014

Loans receivable

Loans Receivable

Schedule of loans receivable

The following table summarizes the Company’s loans receivable (in thousands):

		June 30, 2014									December 31, 2013
		Real Estate Secured			Other Secured			Total			Real Estate Secured			Other Secured			Total
Mezzanine		$	—		$	233,854		$	233,854		$	—		$	234,455		$	234,455
Other(1)		157,819			—			157,819			147,669			—			147,669
Unamortized discounts, fees and costs		—			(2,546		)	(2,546		)	—			(2,713		)	(2,713		)
Allowance for loan losses		—			(13,410		)	(13,410		)	—			(13,410		)	(13,410		)
		$	157,819		$	217,898		$	375,717		$	147,669		$	218,332		$	366,001

(1) Includes $128 million and $117 million at June 30, 2014 and December 31, 2013, respectively, of construction loans outstanding related to senior housing development projects.  At June 30, 2014, the Company had $19.5 million remaining under its commitments to fund development projects.

Summary of the Company's internal ratings for loans receivable

The following table summarizes the Company’s internal ratings for loans receivable at June 30, 2014 (in thousands):

		Carrying			Percentage of Loan		Internal Ratings
Investment Type		Amount			Portfolio		Performing Loans			Watch List Loans			Workout Loans
Real estate secured		$	157,819		42		$	157,819		$	—		$	—
Other secured		217,898			58		200,428			—			17,470
		$	375,717		100		$	358,247		$	—		$	17,470

Schedule of reconciliation of the allowance

A reconciliation of the Company’s allowance related to the Company’s senior secured loan to Delphis follows (in thousands):

		Amount
Balance at January 1, 2014		$	13,410
Additions		—
Balance at June 30, 2014		$	13,410

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- Definition

Tabular disclosure of financing receivables (examples of financing receivables include loans, trade accounts receivable and notes receivable) and activity in the allowance for credit losses account.

+ References

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section 50

-Paragraph 11B

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Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section 50

-Paragraph 29

-URI http://asc.fasb.org/extlink&oid=28368275&loc=SL6953659-111524



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-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

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-Section 55

-Paragraph 19

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Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

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