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Commitments and Contingencies (Tables) | 3 Months Ended
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Mar. 31, 2012
Commitments and Contingencies |
Summary of capital improvement commitments and investments |
Commitment |  | Expiration Date |  | Used Commitment |  | Open Commitment |  | Estimated Yield |  | Property Type |  | Properties |  | Major Operator |
$ | 100 |  | 8/1/12 |  | $ | 98 |  | $ | 2 |  |  | (1) | SNF |  | 1 |  | N/A |
8,250 |  | 10/11/13 |  | 50 |  | 8,200 |  | 9.00 | %(2) | SNF(5) |  | — |  | N/A |
5,000 | (4) | 12/31/14 |  | — |  | 5,000 |  |  | (3) | ALF |  | 37 |  | ALC |
$ | 13,350 |  |  |  | $ | 148 |  | $ | 13,202 |  |  |  |  |  |  |  |  |
(1) The yield is included in the initial lease rate. (2) Minimum rent will increase upon final funding and project completion or in some cases, the improvement deadline as defined in each lease agreement. (3) 9.5% plus the positive difference, if any, between the average yields on the U.S. Treasury 10-year note for the five days prior to funding, minus 420 basis points (expressed as a percentage). (4) $5,000 per year for the life of the lease. (5) Represents a commitment to construct a 120-bed skilled nursing property on a vacant parcel of land in Texas.
Summary of loan commitments |
Commitment |  | Expiration Date |  | Used Commitment |  | Open Commitment |  | Yield |  | Property Type (1) |  | Properties |  | Major Operator |
$ | 2,500 | (2) | 12/31/12 |  | $ | 1,267 |  | $ | 1,233 |  | 8.50 | % | Other |  | 2 |  | N/A |
50 |  | 3/31/13 |  | 20 |  | 30 |  | 10.00 | % | Other |  | 1 |  | N/A |
$ | 2,550 |  |  |  | $ | 1,287 |  | $ | 1,263 |  |  |  |  |  |  |  |  |
(1) Other senior housing properties consist of independent living properties and properties providing any combination of skilled nursing, assisted living and/or independent living services. (2) Represents a construction and term loan for capital improvements at two senior housing properties we own and lease to the borrower. Upon the earlier of the full funding of the commitment or December 31, 2012, construction distribution under this loan will cease and this loan will fully amortize to maturity in November 2017.

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- Definition Tabular disclosure of key provisions of an arrangement under which the entity has agreed to make capital improvements. + References No definition available. + Details
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- Definition Tabular disclosure of the loan commitments of the entity. + References No definition available. + Details
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