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Notes Receivable | 6 Months Ended
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Jun. 30, 2019
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 June 30, 2019 and December 31, 2018 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​
​ | At June 30, 2019 | ​ | At December 31, 2018
Mezzanine loans | $ | 16,692 | ​ | $ | 9,868
Other loans | ​ | 3,669 | ​ | ​ | 2,975
Notes receivable reserve | ​ | (204) | ​ | ​ | (128)
Total | $ | 20,157 | ​ | $ | 12,715
​ The following tables summarizes our notes receivable activity for the six months ended June 30, 2019 and 2018 (dollar amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Six Months Ended June 30, | ​
​ | ​ | 2019 | ​ | ​ | 2018 | ​
Advances under notes receivable | $ | 7,766 | (1) | $ | — | ​
Principal payments received under notes receivable | ​ | (49) | ​ | ​ | (2,352) | ​
Reclassified to lease incentives (2) | ​ | (200) | ​ | ​ | — | ​
Notes receivable reserve | ​ | (75) | ​ | ​ | 24 | ​
Total | $ | 7,442 | ​ | $ | (2,328) | ​
​
(1) | We originated a $6,800 mezzanine loan commitment for the development of a 204-unit ILF/ALF/MC in Georgia. The mezzanine loan has a five-year term and a 12.0% return, a portion of which is paid in cash, and the remaining portion of which is deferred during the first 46 months. Additionally, we originated a $1,400 note agreement, funding $582 with a commitment to fund $818. The note bears interest at 7.0%. Further, we originated a $550 note agreement, funding $200 with a commitment to fund $350. The note bears interest at 7.5%.
​
(2) | Represents an interim working capital loan related to a development project which matured upon completion of the development project and commencement of the lease.
​ ​

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
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- References No definition available. + Details
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