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Loans Receivable (Tables) | 12 Months Ended
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Dec. 31, 2020
Receivables [Abstract] |
Schedule of Loans Receivable | The following table summarizes the Company’s loans receivable (in thousands):
|  |  |  |  | December 31,
|  |  |  |  | 2020 |  |  |  |  |  | 2019
Secured mortgage loans(1) |  |  |  |  | $ | 161,530 |  |  |  |  |  |  | $ | 161,964 |
Mezzanine and other |  |  |  |  | 44,347 |  |  |  |  |  |  | 27,752 |
Unamortized discounts, fees, and costs |  |  |  |  | (222) |  |  |  |  |  |  | 863 |
Reserve for loan losses |  |  |  |  | (10,280) |  |  |  |  |  |  | — |
Loans receivable, net |  |  |  |  | $ | 195,375 |  |  |  |  |  |  | $ | 190,579 |
_______________________________________ (1)At December 31, 2020, the Company had $11 million remaining of commitments to fund $81 million of senior housing development and redevelopment projects. At December 31, 2019, the Company had $25 million remaining of commitments to fund $174 million of senior housing development and redevelopment projects.
Summary of the Company's Internal Ratings for Loans Receivable on Net of Reserves for Loan Losses | The following table summarizes the Company’s internal ratings for DFLs at December 31, 2020 (dollars in thousands):
|  |  |  |  |  | Internal Ratings
Segment |  | Carrying Amount |  | Percentage of DFL Portfolio |  | Performing DFLs |  | Watch List DFLs |  | Workout DFLs
Medical office |  | $ | 44,706 |  |  | 100 |  | $ | 44,706 |  |  | — |  |  | — |
|  | $ | 44,706 |  |  | 100 |  | $ | 44,706 |  |  | $ | — |  |  | $ | — |
The following table summarizes, by year of origination, the Company’s internal ratings for loans receivables, net of reserves for loan losses, as of December 31, 2020 (dollars in thousands):
Investment Type |  | Year of Origination |  | Total
| 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |
Secured mortgage loans |  |  |  |  |  |  |  |  |  |  |  |
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |
Performing loans |  | $ | 95,800 |  |  | $ | 61,772 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 157,572 |
Watch list loans |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Workout loans |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total secured mortgage loans |  | $ | 95,800 |  |  | $ | 61,772 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 157,572 |
Mezzanine and other |  |  |  |  |  |  |  |  |  |  |  |
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |
Performing loans |  | $ | 23,263 |  |  | $ | 12,252 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 35,515 |
Watch list loans |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,288 |  |  | 2,288 |
Workout loans |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total mezzanine and other |  | $ | 23,263 |  |  | $ | 12,252 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,288 |  |  | $ | 37,803 |
Schedule of Loans Receivable Secured by Real Estate | The following table summarizes the Company’s loans receivable secured by real estate at December 31, 2020 (dollars in thousands):
Final Maturity Date |  | Number of Loans |  | Payment Terms |  | Principal Amount(1) |  | Carrying Amount
2021 |  | 1 |  | Monthly interest-only payments, accrues interest at 7.5% and secured by a senior housing facility under development in Texas |  | $ | 2,250 |  |  | $ | 2,250 |
2021 |  | 1 |  | Monthly interest-only payments, accrues interest at 7.5% and secured by a senior housing facility under development in Florida |  | 8,289 |  |  | 8,289 |
2021 |  | 4 |  | Monthly interest-only payments, accrues interest at 3.5% and secured by senior housing facilities in Florida and California |  | 61,018 |  |  | 57,861 |
2022 |  | 1 |  | Monthly interest-only payments, accrues interest at 5.5% and secured by equity interests in 11 senior housing facilities in California |  | 25,000 |  |  | 24,462 |
2026 |  | 1 |  | Monthly interest-only payments, accrues interest at the greater of 2% or LIBOR, plus 4.25% and secured by a senior housing facility under development in Florida |  | 51,716 |  |  | 51,233 |
2026 |  | 1 |  | Monthly interest-only payments, accrues interest at the greater of 2% or LIBOR, plus 4.25% and secured by a senior housing facility under development in California |  | 13,257 |  |  | 13,477 |
|  | 9 |  |  |  | $ | 161,530 |  |  | $ | 157,572 |
_______________________________________ (1)Represents future contractual principal payments to be received on loans receivable secured by real estate.
Schedule of Financing Receivable, Allowance for Credit Loss | The following table summarizes the Company’s reserve for loan losses at December 31, 2020 (in thousands):
| December 31, 2020
| Secured Mortgage Loans |  | Mezzanine and Other |  | Total
Reserve for loan losses, December 31, 2019 | $ | — |  |  | $ | — |  |  | $ | — |
Cumulative-effect of adopting of ASU 2016-13 to beginning retained earnings | 513 |  |  | 907 |  |  | 1,420 |
Provision for expected loan losses | 2,639 |  |  | 6,221 |  |  | 8,860 |
Reserve for loan losses, December 31, 2020 | $ | 3,152 |  |  | $ | 7,128 |  |  | $ | 10,280 |

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- Definition Tabular disclosure about mortgage loans receivable on real estate. Information may be provided for each individual mortgage loan or groups of mortgage loans. Disclosure should include number of loans by original loan amounts and type of loan (for example, VA, FHA, Conventional). If grouped, loans should be grouped by categories (for example, first mortgage, second mortgage, construction loans) and for each loan the type of property (for example, shopping center, high rise apartments) and its geographic location. + References No definition available. + Details
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- Definition Tabular disclosure of allowance for credit loss on financing receivable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -URI http://asc.fasb.org/extlink&oid=121611835&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919249-210447 + Details
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- Definition 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/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919230-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=121611835&loc=SL6953659-111524 + Details
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- Definition 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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