XML 32 R21.htm IDEA: XBRL DOCUMENT
v3.19.2

Investment in Unconsolidated Joint Ventures (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2019
Investment in Unconsolidated Joint Ventures |
Summary of investments in unconsolidated joint ventures | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Type | ​ | Type | ​ | Total | ​ | ​ | Currently | ​ | ​ | Number | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | of | ​ | of | ​ | Preferred | ​ | ​ | Paid in | ​ | ​ | of | ​ | ​ | Investment | ​ | ​ | Carrying | ​
State | ​ | Properties | ​ | Investment | ​ | Return | ​ | ​ | Cash | ​ | ​ | Beds/ Units | ​ | ​ | Commitment | ​ | ​ | Value | ​
Arizona | ​ | ALF/MC/ILF | ​ | Preferred Equity | (1) | 15 | % | ​ | 8 | % | (2) | 585 | ​ | $ | 25,650 | ​ | $ | 24,324 | ​
Florida | ​ | ALF/ILF/MC | ​ | Mezzanine | (3) | 15 | % | ​ | 15 | % | ​ | 99 | ​ | ​ | 2,900 | (4) | ​ | 3,197 | (4)
Total | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 684 | ​ | $ | 28,550 | ​ | $ | 27,521 | ​
(1) | We have concluded that the JV is a variable interest entity (“VIE”) in accordance with GAAP. However, because we do not control the entity, nor do we have any role in the day-to-day management, we are not the primary beneficiary of the JV. Therefore, we account for the JV investment using the equity method.
​
(2) | Effective second quarter of 2019, this JV was placed on cash basis due to delinquency of our preferred return.
​
(3) | We evaluated this acquisition, development and construction (“ADC”) arrangement and determined that the characteristics are similar to jointly-owned investments or partnerships, and accordingly, this investment is accounted for as unconsolidated joint venture under the equity method of accounting instead of loan accounting.
​
(4) | Since interest payments were deferred and no interest was recorded for the first twelve months of the loan, we used the effective interest method in accordance with GAAP to recognize interest income and recorded the difference between the effective interest income and cash interest income to the loan principal balance.
Summary of capital contributions, income recognized and cash interest received from investments in unconsolidated joint ventures | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Type | ​ | ​ | ​
​ | ​ | of | ​ | ​ | Capital | ​ | ​ | Income | ​ | ​ | Cash Interest | ​
Year | ​ | Properties | ​ | ​ | Contribution | ​ | ​ | Recognized | ​ | ​ | Received | ​
2019 | ​ | ALF/MC/ILF | ​ | $ | 293 | ​ | $ | 553 | ​ | $ | 727 | ​
​ | ​ | ALF/ILF/MC | ​ | ​ | — | ​ | ​ | 256 | ​ | ​ | 243 | ​
​ | ​ | ALF/MC | (1) | ​ | — | (1) | ​ | 404 | (1) | ​ | 432 | (1)
Total | ​ | ​ | ​ | $ | 293 | ​ | $ | 1,213 | ​ | $ | 1,402 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2018 | ​ | ALF/MC/ILF | ​ | ​ | 497 | ​ | ​ | 951 | ​ | ​ | 1,062 | ​
​ | ​ | ALF/ILF/MC | ​ | ​ | — | ​ | ​ | 255 | ​ | ​ | 194 | ​
​ | ​ | ALF/MC | (1) | ​ | — | (1) | ​ | 151 | (1) | ​ | — | (1)
Total | ​ | ​ | ​ | $ | 497 | ​ | $ | 1,357 | ​ | $ | 1,256 | ​
(1) | We had a $3,400 mezzanine loan commitment for the development of a 127-unit seniors housing community in Florida with a total preferred return of 15%. The mezzanine loan was an ADC arrangement which we determined it to have characteristics similar to a jointly-owned arrangement and recorded it as an unconsolidated joint venture. During the first quarter of 2019, the mezzanine loan was paid off.

X
- Definition Tabular disclosure of the entity's capital contributions, income recognized and cash interest received related to investments in unconsolidated joint ventures. + References No definition available. + Details
Name: | ltc_ScheduleOfCapitalContributionsIncomeRecognizedAndCashInterestReceivedInvestmentsUnconsolidatedJointVentureTableTextBlock
Namespace Prefix: | ltc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the entity's investment in unconsolidated joint ventures. + References No definition available. + Details
Name: | ltc_ScheduleOfInvestmentsUnconsolidatedJointVentureTableTextBlock
Namespace Prefix: | ltc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration