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Real Estate Investments (Tables) | 3 Months Ended
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Mar. 31, 2013
Real Estate Investments |
Summary of investments in owned properties | The following table summarizes our investments in owned properties at March 31, 2013 (dollar amounts in thousands):
|  |  |  |  |  | Number |  | Number of |  |  |  | Investment per Bed/Unit |
Type of Property |  | Gross Investments |  | Percentage of Investments |  | of Properties (1) |  | SNF Beds |  | ALF Units |  |  |
Skilled Nursing |  | $448,010 |  | 49.4% |  | 73 |  | 8,435 |  | — |  | $53.11 |
Assisted Living |  | 379,874 |  | 41.9% |  | 96 |  | — |  | 4,502 |  | $84.38 |
Range of Care |  | 43,907 |  | 4.8% |  | 8 |  | 634 |  | 274 |  | $48.36 |
Under Development (2) |  | 22,347 |  | 2.5% |  | — |  | — |  | — |  | — |
Schools |  | 12,444 |  | 1.4% |  | 2 |  | — |  | — |  | — |
Totals |  | $906,582 |  | 100.0% |  | 179 |  | 9,069 |  | 4,776 |  |  |
(1) We have investments in 26 states leased to 35 different operators. (2) Includes a MC development with 60 units and two combination ALF and MC developments with a total of 158 units, a 143-bed SNF development and a 120-bed SNF redevelopment project.
Schedule of investment commitments | In addition, the following table summarizes our investment commitments as of March 31, 2013, excluding the $5,000,000 per year commitment, and year to date funding on our development, redevelopment, renovation and expansion projects (excludes capitalized interest, dollar amounts in thousands):
Type of Property |  | Investment Commitment |  | 2013 Funding (2) |  | Commitment Funded |  | Remaining Commitment |  | Number of Properties |  | Number of Beds/Units |
Skilled Nursing |  | $36,644 |  | $2,313 |  | $11,418 |  | $25,226 |  | 6 |  | 785 |
Assisted Living (1) |  | 40,927 |  | 3,880 |  | 12,122 |  | 28,805 |  | 7 |  | 494 |
Totals |  | $77,571 |  | $6,193 (3) |  | $23,540 |  | $54,031 |  | 13 |  | 1,279 |
(1) Includes the development of a 60-unit memory care property for $9,817 and two assisted living and memory care combination properties for a total of $16,385, the expansion of three assisted living properties for a total $14,600 and the renovation of a 140-unit independent living property for $125. (2) Excludes $117 of capital improvement on a completed project with no remaining commitments. (3) In April of 2013, we funded $1,398 under investment commitments.
Summary of investments in mortgage loans secured by first mortgages | The following table summarizes our investments in mortgage loans secured by first mortgages at March 31, 2013 (dollar amounts in thousands):
|  |  |  | Percentage |  |  |  | Number |  | Number of |  | Investment |
Type of Property |  | Gross Investments |  | of Investments |  | Number of Loans |  | of Properties(1) |  | SNF Beds |  | ALF Units |  | per Bed/Unit |
Skilled Nursing (2) |  | $25,097 |  | 62.5% |  | 15 |  | 17 |  | 1,861 |  | — |  | $13.49 |
Assisted Living |  | 12,245 |  | 30.5% |  | 3 |  | 8 |  | — |  | 211 |  | $58.03 |
Range of Care |  | 2,800 |  | 7.0% |  | 1 |  | 1 |  | 99 |  | 74 |  | $16.18 |
Totals |  | $40,142 |  | 100.0% |  | 19 |  | 26 |  | 1,960 |  | 285 |  |  |
(1) We have investments in 8 states that include mortgages to 11 different operators. (2) Includes a mortgage and construction loan secured by a currently operating skilled nursing property and parcel of land upon which a 106-bed replacement facility will be constructed. The agreement gives us the right to purchase the replacement facility for $13,500 during an 18 month period beginning on the first anniversary of the issuance of the certificate of occupancy.

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