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Notes Receivable | 12 Months Ended
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Dec. 31, 2011
Notes Receivable |
Notes Receivable |
7. Notes Receivable Our notes receivable consists of various loans and line of credit agreements with certain operators. During 2011, we funded $232,000 on an 8.5% construction and term loan in which we committed to provide up to $2,500,000 for capital improvements at two senior housing properties we own and lease to the borrower. Upon the earlier of the full funding of the $2,500,000 or December 31, 2012, construction distribution under this loan will cease and this loan will fully amortize to maturity in November 2017. See Note 11. Commitments and Contingencies for further discussion. The following table summarizes the number of loans outstanding, the weighted average interest rate and the carrying value as of December 31, 2011, 2010, and 2009 and notes receivable principal payments received and advanced for the years 2011, 2010, and 2009 (dollar amounts in thousands):
|  | Number of Loans |  | Weighted Average Interest Rate |  | Carrying Value |  | Principal Payments Received |  | Principal Advanced |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
2011 |  |  | 6 |  |  | 10.0 | % | $ | 817 |  | $ | 731 |  | $ | (232 | )
2010 |  |  | 5 |  |  | 11.9 | % |  | 1,283 |  |  | 1,573 |  |  | (100 | )
2009 |  |  | 7 |  |  | 11.5 | % |  | 2,689 |  |  | 671 |  |  | (375 | )

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- Definition The entire disclosure for claims held for amounts due a company. Examples include trade accounts receivables, notes receivables, loans receivables. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6965416&loc=d3e5066-111524 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 7 -Article 9 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 01-6 -Paragraph 13 -Subparagraph d -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6965416&loc=d3e5162-111524 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 3, 4 -Article 5 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(k)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Article 4 -Section 08 -Paragraph k Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6965416&loc=d3e5074-111524 + Details
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