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Notes Receivable
 12 Months Ended
Dec. 31, 2012
Notes Receivable  
Notes Receivable

7. Notes Receivable

        During 2012, we funded $663,000 under a 9.0% construction and term loan for capital improvements at one skilled nursing property we own and lease to the borrower. This loan will fully amortize to maturity in May 2018. During 2012, we also funded $2,267,000 under an 8.5% construction and term loan for capital improvements at two senior housing properties we own and lease to the borrower. This loan will fully amortize to maturity in November 2017.

        At December 31, 2012, we committed to provide $1,400,000 in loan and line of credit agreements to certain operators. As of December 31, 2012, we had funded $20,000 under these commitments and have a remaining commitment of $1,380,000. These loan commitments have interest rates ranging from 9.0% to 12.0% and maturities ranging from 2013 to 2014.

        The following table summarizes the number of loans outstanding, the weighted average interest rate and the carrying value as of December 31, 2012, 2011, and 2010 and notes receivable principal payments received and advanced for the years 2012, 2011, and 2010 (dollar amounts in thousands):

 
   Number
of Loans		   Weighted
Average
Interest
Rate		   Carrying
Value		   Principal
Payments
Received		   Principal
Advanced		  

2012

     5     8.7 % $ 3,180   $ 569   $ (2,930 )

2011

     6     10.0 %   817     731     (232 )

2010

     5     11.9 %   1,283     1,573     (100 )