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LOANS RECEIVABLE AND INVESTMENTS | 6 Months Ended
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Jun. 30, 2015
Loans Receivable And Investments [Abstract] |
LOANS RECEIVABLE AND INVESTMENTS | LOANS RECEIVABLE AND INVESTMENTS As of June 30, 2015 and December 31, 2014, we had $824.8 million and $927.7 million, respectively, of net loans receivable and investments relating to seniors housing and healthcare operators or properties. The following is a summary of our net loans receivable and investments as of June 30, 2015 and December 31, 2014, including amortized cost, fair value and unrealized gains (losses) on available-for-sale investments:
|  | June 30, 2015
|  | Carrying Amount |  | Amortized Cost |  | Fair Value |  | Unrealized Gain (Loss)
|  | (In thousands)
Secured mortgage loans and other |  | $ | 726,183 |  |  | $ | 726,183 |  |  | $ | 723,423 |  |  | $ | — |
Government-sponsored pooled loan investments |  | 63,225 |  |  | 61,722 |  |  | 63,225 |  |  | 1,503 |
Total investments reported as Secured loans receivable and investments, net |  | 789,408 |  |  | 787,905 |  |  | 786,648 |  |  | 1,503 |
Unsecured loans receivable |  | 35,408 |  |  | 35,408 |  |  | 36,843 |  |  | — |
Total investments reported as Other assets |  | 35,408 |  |  | 35,408 |  |  | 36,843 |  |  | — |
Total net loans receivable and investments |  | $ | 824,816 |  |  | $ | 823,313 |  |  | $ | 823,491 |  |  | $ | 1,503 |
|  | December 31, 2014
|  | Carrying Amount |  | Amortized Cost |  | Fair Value |  | Unrealized Gain (Loss)
|  | (In thousands)
Secured mortgage loans and other |  | $ | 766,641 |  |  | $ | 766,641 |  |  | $ | 774,789 |  |  | $ | — |
Government-sponsored pooled loan investments |  | 63,115 |  |  | 61,377 |  |  | 63,115 |  |  | 1,738 |
Total investments reported as Secured loans receivable and investments, net |  | 829,756 |  |  | 828,018 |  |  | 837,904 |  |  | 1,738 |
Unsecured loans receivable |  | 21,862 |  |  | 21,862 |  |  | 23,164 |  |  | — |
Marketable securities |  | 76,046 |  |  | 71,000 |  |  | 76,046 |  |  | 5,046 |
Total investments reported as Other assets |  | 97,908 |  |  | 92,862 |  |  | 99,210 |  |  | 5,046 |
Total net loans receivable and investments |  | $ | 927,664 |  |  | $ | 920,880 |  |  | $ | 937,114 |  |  | $ | 6,784 |
2015 Activity In June 2015 we sold our $71.0 million investment in senior unsecured corporate bonds for $76.8 million. For the three and six months ended June 30, 2015 we recognized a gain of $5.8 million (included within income from loans and investments in our Consolidated Statements of Income). This gain includes $5.0 million that was previously unrealized within accumulated other comprehensive income on our Consolidated Balance Sheets as of December 31, 2014. During the six months ended June 30, 2015, we received aggregate proceeds of $86.2 million in final repayment of one secured and one unsecured loan receivable. We recognized gains aggregating $1.5 million on the repayment of these loans receivable that are recorded in income from loans and investments in our Consolidated Statements of Income for the six months ended June 30, 2015. 2014 Activity During the year ended December 31, 2014, we made a $425.0 million secured mezzanine loan investment that has a blended annual interest rate of 8.1% and has contractual maturities ranging between 2016 and 2019, and we purchased $71.0 million principal amount of senior unsecured corporate bonds, a $38.7 million interest in a government-sponsored pooled loan investment, and $21.7 million of marketable equity securities. During the year ended December 31, 2014, we sold all of our marketable equity securities for $22.3 million and recognized a gain of $0.6 million. Our investments in marketable debt securities and government-sponsored pooled loans are classified as available-for-sale, with contractual maturity dates in 2022 and 2023. During the year ended December 31, 2014, we received aggregate proceeds of $55.9 million in final repayment of three secured and two unsecured loans receivable. We recognized aggregate gains aggregating $5.2 million on the repayment of these loans receivable that are recorded in income from loans and investments in our Consolidated Statements of Income for the year ended December 31, 2014.

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