Debt Obligations	3 Months Ended
Debt Obligations	Mar. 31, 2014
Debt Obligations
Debt Obligations	4. Debt Obligations Bank Borrowings. We have an Unsecured Credit Agreement that provides for a revolving line of credit up to $240,000,000 with the opportunity to increase the credit amount up to a total of $350,000,000. The Unsecured Credit Agreement matures on May 25, 2016 and provides for a one-year extension option at our discretion, subject to customary conditions. Based on our leverage at March 31, 2014, the facility provides for interest annually at LIBOR plus 150 basis points and the unused commitment fee was 30 basis points. During the three months ended March 31, 2014, we borrowed $20,000,000 under our Unsecured Credit Agreement. At March 31, 2014, we had $41,000,000 outstanding at an interest rate of LIBOR plus 125 basis points and $199,000,000 available for borrowing. At March 31, 2014, we were in compliance with all covenants. Senior Unsecured Notes. At March 31, 2014 and December 31, 2013, we had $251,633,000 and $255,800,000, respectively, outstanding under our Senior Unsecured Notes with a weighted average interest rate of 4.8%. During the three months ended March 31, 2014, we paid $4,167,000 in regularly scheduled principal payments. At March 31, 2014, we had $30,000,000 available under an Amended and Restated Note Purchase and Private Shelf agreement which provides for the possible issuance of senior unsecured fixed-rate term notes through October 19, 2014. Bonds Payable. At March 31, 2014 and December 31, 2013, we had outstanding principal of $1,400,000 and $2,035,000 respectively, on multifamily tax-exempt revenue bonds that are secured by five assisted living properties in Washington. These bonds bear interest at a variable rate that is reset weekly and mature during 2015. For the three months ended March 31, 2014, the weighted average interest rate, including letter of credit fees, on the outstanding bonds was 3.3%. During the three months ended March 31, 2014 and 2013, we paid $635,000 and $600,000, respectively, in regularly scheduled principal payments. As of March 31, 2014 and December 31, 2013, the aggregate carrying value of real estate properties securing our bonds payable was $6,320,000 and $6,386,000, respectively.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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