XML 34 R23.htm IDEA: XBRL DOCUMENT
v3.20.2

Investment in Unconsolidated Joint Ventures (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2020
Investment in Unconsolidated Joint Ventures |
Summary of capital contributions, income recognized and cash interest received from investments in unconsolidated joint ventures | The following table summarizes our capital contributions, income recognized, and cash interest received related to our investments in unconsolidated joint ventures for the six months ended June 30, 2020 and 2019 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Type | ​ | ​ | ​
​ | ​ | of | ​ | ​ | Capital | ​ | ​ | Income | ​ | ​ | Cash Interest | ​
Year | ​ | Properties | ​ | ​ | Contribution | ​ | ​ | Recognized | ​ | ​ | Received | ​
2020 | ​ | ALF/MC/ILF | (1) | $ | 58 | (1) | $ | 231 | (1) | $ | 231 | (1)
Total | ​ | ​ | ​ | $ | 58 | ​ | $ | 231 | ​ | $ | 231 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
2019 | ​ | ALF/MC/ILF | ​ | $ | 293 | ​ | $ | 553 | ​ | $ | 727 | ​
​ | ​ | ALF/ILF/MC | (2) | ​ | — | (2) | ​ | 256 | (2) | ​ | 243 | (2)
​ | ​ | ALF/MC | (2) | ​ | — | (3) | ​ | 404 | (3) | ​ | 432 | (3)
Total | ​ | ​ | ​ | $ | 293 | ​ | $ | 1,213 | ​ | $ | 1,402 | ​
(1) | Relates to our preferred equity investment discussed above with a total preferred return of 15%. We had concluded that the joint venture was a variable interest entity (“VIE”) in accordance with GAAP. However, because we did not control the entity, nor we had any role in the day-to-day management, we were not the primary beneficiary of the joint venture. Therefore, we accounted for the joint venture investment using the equity method.
​
(2) | We had a $2,900 mezzanine loan commitment for a 99-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. 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. During the third quarter of 2019, the mezzanine loan was paid off.
​
(3) | 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
- References No definition available. + Details
Name: | us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration