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Commitments and Contingencies (Tables) | 6 Months Ended
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Jun. 30, 2012
Commitments and Contingencies |
Summary of capital improvement commitments and investments |
Commitment |  | Expiration Date |  |  | Used Commitment |  | Open Commitment |  |  | Estimated Yield |  | Property Type |  | Properties |
$ 100 |  | 8/1/12 |  |  | $ 98 |  | $ 2 |  |  |  | (1) | SNF |  | 1 |
1,700 |  | 3/31/13 |  |  | 238 | (8)(a) | 1,462 |  |  | 9.00% | (2) | SNF |  | 2 |
8,250 |  | 10/11/13 |  |  | 115 |  | 8,135 |  |  | 9.00% | (2) | UDP(6) |  | — |
7,935 |  | 12/1/13 |  |  | 150 | (8)(b) | 7,785 |  |  | 9.25% | (2) | UDP(5) |  | — |
5,000 | (4) | 12/31/14 |  |  | — |  | 5,000 |  |  |  | (3) | ALF |  | 37 |
30 |  | 8/31/15 |  |  | — |  | 30 |  |  |  | (1) | EDU |  | 1 |
$23,015 | (7) |  |  |  | $601 |  | $22,414 |  |  |  |  |  |  |  |
(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) This commitment is to construct a 60-unit free-standing memory care property in Colorado. (6) This commitment is to construct a 120-bed skilled nursing property in Texas. (7) In July 2012, we committed to fund $1,700 expiring in July 2014 with an estimated yield of 9.00% for improvements to a SNF property not operated by a major operator. (8) In July 2012, we funded the following commitments: (a) $87 and (b) $145.
Summary of loan commitments |
Commitment |  |  | Expiration Date |  | Used Commitment |  |  | Open Commitment |  | Yield |
$2,500 | (2) |  | 12/31/12 |  | $2,199 | (4) |  | $301 |  | 8.50% |
667 | (3) |  | 12/31/12 |  | 53 |  |  | 614 |  | 9.00% |
50 |  |  | 3/31/13 |  | 20 |  |  | 30 |  | 10.00% |
750 |  |  | 5/14/14 |  | — |  |  | 750 |  | 12.00% |
$ 3,967 |  |  |  |  | $2,272 |  |  | $1,695 |  |  |
(1) This commitment is 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. (2) This commitment is a construction and term loan for capital improvements at a skilled nursing property 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 May 2018. (3) This commitment is a note agreement with our operator of a 60-unit free standing memory care property under development. (4) In July 2012, we funded an additional $232 under this commitment.

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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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