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Real Estate Investments (Tables) | 6 Months Ended
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Jun. 30, 2013
Real Estate Investments |
Summary of investments in owned properties | The following table summarizes our investments in owned properties at June 30, 2013 (dollar amounts in thousands):
|  |  |  |  |  | Number |  | Number of |  | Investment |
Type of Property |  | Gross Investments |  | Percentage of Investments |  | of Properties (1) |  | SNF Beds |  | ALF Units |  | per Bed/Unit |
Skilled Nursing |  | $454,021 |  | 49.7% |  | 73 |  | 8,418 |  | — |  | $53.93 |
Assisted Living |  | 379,913 |  | 41.6% |  | 96 |  | — |  | 4,502 |  | $84.39 |
Range of Care |  | 43,907 |  | 4.8% |  | 8 |  | 634 |  | 274 |  | $48.36 |
Under Development (2) |  | 22,757 |  | 2.5% |  | — |  | — |  | — |  | — |
Schools |  | 12,444 |  | 1.4% |  | 2 |  | — |  | — |  | — |
Totals |  | $913,042 |  | 100.0% |  | 179 |  | 9,052 |  | 4,776 |  |  |
(1) We have investments in 26 states leased to 35 different operators. (2) Includes a MC development with 60 units, two combination ALF and MC developments with a total of 158 units, and a SNF development with 143 beds.
Schedule of investment commitments | The following table summarizes our investment commitments as of June 30, 2013, excluding the $5,000,000 per year commitment, and year to date funding on our ongoing 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 |  | $29,550 |  | $2,115 |  | $7,651 |  | $21,899 |  | 6 |  | 640 |
Assisted Living (1) |  | 40,802 |  | 8,042 |  | 16,218 |  | 24,584 |  | 6 |  | 354 |
Totals |  | $70,352 |  | $10,157 (3) |  | $23,869 |  | $46,483 |  | 12 |  | 994 |
(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, and the expansion of three assisted living properties for a total $14,600. (2) Excludes $260 of capital improvement on three completed projects with no remaining commitments and includes $6 funded under the commitment as marketing expense. (3) In July of 2013, we funded $1,932 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 June 30, 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) |  | $24,730 |  | 62.3% |  | 15 |  | 17 |  | 1,861 |  | — |  | $13.29 |
Assisted Living |  | 12,202 |  | 30.8% |  | 3 |  | 8 |  | — |  | 211 |  | $57.83 |
Range of Care |  | 2,736 |  | 6.9% |  | 1 |  | 1 |  | 99 |  | 74 |  | $15.82 |
Totals |  | $39,668 |  | 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 property is being 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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