Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Schedule of Loan Commitments [Table Text Block]

The tables below summarize our existing, known commitments and contingencies as of September 30, 2020 according to the nature of their impact on our leasehold or loan portfolios. ($ in thousands)


	Asset Class	Type	Total		Funded		Remaining
Loan Commitments:
LCS Sagewood Note A	SHO	Construction	$	118,800	$	(91,256)	$	27,544
LCS Sagewood Note B	SHO	Construction	61,200		(61,200)		—
Bickford Senior Living	SHO	Construction	42,900		(29,458)		13,442
Senior Living Communities	SHO	Revolving Credit	12,000		(6,170)		5,830
41 Management	SHO	Construction	10,800		(8,532)		2,268
Timber Ridge OpCo	SHO	Working Capital	5,000		—		5,000
Watermark Retirement	SHO	Working Capital	5,000		—		5,000
Discovery Senior Living	SHO	Working Capital	750		(750)		—
			$	256,450	$	(197,366)	$	59,084

As provided above, loans funded do not include the effects of discounts or commitment fees. Our loans and loan commitments to 41 Management, LLC (“41 Management”) represent a variable interest. 41 Management is structured to limit liability for potential claims for damages, is capitalized to achieve that purpose and is considered a VIE. On June 12, 2020, we provided a $5,000,000 loan commitment to Watermark Retirement to provide working capital liquidity in connection with the renewal of an existing lease on two continuing care retirement communities.

Off Balance Sheet, Credit Loss, Liability, Roll Forward

The liability for expected credit losses on our unfunded loans is presented in the following table for the nine months ended September 30, 2020 ($ in thousands):


Beginning balance January 1, 2020 (upon adoption of ASU 2016-13)	$	325
Benefit to expected credit losses	(5)
Balance at September 30, 2020	$	320

Schedule of Lease Commitments [Table Text Block]


	Asset Class	Type	Total		Funded		Remaining
Development Commitments:
Ignite Medical Resorts	SNF	Construction	$	25,350	$	(24,313)	$	1,037
Woodland Village	SHO	Renovation	7,515		(7,425)		90
Senior Living Communities	SHO	Renovation	9,930		(9,763)		167
Wingate Healthcare	SHO	Renovation	1,900		(1,532)		368
Discovery Senior Living	SHO	Renovation	900		(697)		203
Navion Senior Solutions	SHO	Construction	650		—		650
41 Management	SHO	Renovation	400		—		400
Watermark Retirement	SHO	Renovation	6,500		(3,000)		3,500
			$	53,145	$	(46,730)	$	6,415