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Notes Receivable | 12 Months Ended
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Dec. 31, 2013
Notes Receivable |
Notes Receivable | 7. Notes Receivable During 2013, we received $3,035,000 for the early repayment of two loans with interest rates ranging from 8.5% to 9.0%. Also during 2013, we committed to fund three loans up to $400,000 each with interest at 12%. Two of these loans mature in September 2017 and one matures in December 2017. We also committed to fund three pre-development loans of $325,000 each to facilitate the site selection and pre-construction services for the future development of three memory care properties. The initial rate of each of these pre-development loans is 12%, increasing by 25 basis points per year. Each of these pre-development loans matured due to the acquisition of the land and the outstanding balance of $479,000 was reclassified to real estate under development during 2013. As of December 31, 2013, we have seven loans and line of credit agreements with a total commitment of $2,425,000 and a remaining commitment balance of $1,830,000. The average interest rate of these loans is 11.5%. During 2013, 2012, and 2011, we received principal payments, including loan payoffs, of $3,110,000, $569,000, and $731,000, respectively, and we advanced principal of $1,004,000, $2,930,000, and $232,000, respectively.

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 3, 4 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=28368275&loc=d3e5074-111524 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=28368275&loc=d3e5066-111524 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 7 -Article 9 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(k)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph k -Article 4 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=28368275&loc=d3e5162-111524 + Details
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