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Real Estate Investments (Tables) | 6 Months Ended
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Jun. 30, 2014
Real Estate Investments |
Summary of investments in owned properties | The following table summarizes our investments in owned properties at June 30, 2014 (dollar amounts in thousands):
|  |  |  |  |  |  |  |  |  |  |  | Average |
|  |  |  |  |  | Number |  | Number of |  | Investment |
Type of Property |  | Gross Investments |  | Percentage of Investments |  | of Properties (1) |  | SNF Beds |  | ALF Units |  | per Bed/Unit |
Skilled Nursing |  | $ 459,470 |  | 48.0% |  | 68 |  | 8,264 |  | — |  | $ 55.60 |
Assisted Living |  | 405,048 |  | 42.4% |  | 96 |  | — |  | 4,496 |  | $ 90.09 |
Range of Care |  | 43,906 |  | 4.6% |  | 8 |  | 634 |  | 274 |  | $ 48.35 |
Under Development (2) |  | 37,659 |  | 3.9% |  | — |  | — |  | — |  | — |
Other (3) |  | 10,433 |  | 1.1% |  | 1 |  | — |  | — |  | — |
Totals |  | $ 956,516 |  | 100.0% |  | 173 |  | 8,898 |  | 4,770 |  |  |
(1) We own properties in 26 states that are leased to 31 different operators. (2) Includes three MC developments with a total of 168 units, a combination ALF and MC development with 81 units, and a SNF development with 143 beds. (3) Includes one school property and four parcels of land held-for-use.
Schedule of investment commitments | Excluding the $5,000,000 per year commitment above, the following table summarizes our investment commitments as of June 30, 2014 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 |  | 2014 Funding (2) |  | Commitment Funded |  | Remaining Commitment |  | Number of Properties |  | Number of Beds/Units |
Skilled |  | $ 30,150 |  | $ 4,290 |  | $ 17,047 |  | $ 13,103 |  | 7 |  | 760 |
Assisted Living (1) |  | 50,656 |  | 22,788 |  | 33,449 |  | 17,207 |  | 7 |  | 385 |
Totals |  | $ 80,806 |  | $27,078(3) |  | $50,496(4) |  | $30,310(3) |  | 14 |  | 1,145 |
(1) Includes the development of three MC properties for a total commitment of $30,256, one ALF/MC property for a total commitment of $5,800, and the expansion of three ALFs for a total commitment of $14,600. (2) Excludes funding for a completed development of $450. (3) In July 2014, we funded $2,794 under investment commitments. Accordingly, we have a remaining commitment of $27,516. (4) Includes land purchase and completed projects with remaining commitment funding and excludes capitalized interest.
Schedule of development, redevelopment, renovation, and expansion activity | Our construction in progress (or CIP) activity during the six months ended June 30, 2014 for our development, redevelopment, renovation, and expansion projects is as follows (dollar amounts in thousands):
Properties |  | Projects |  | CIP Balance at 12/31/13 |  | Funded(1) |  | Capitalized Interest |  | Conversions out of CIP |  | CIP Balance at 6/30/14 |
Development projects: |  |  |  |  |  |  |  |  |  |  |  |  |
Assisted living |  | 5 |  | $ 6,334 |  | $ 12,051 |  | $ 335 |  | $ (8) |  | $ 18,712 |
Skilled nursing |  | 1 |  | 5,893 |  | 3,579 |  | 261 |  | — |  | 9,733 |
Subtotal |  | 6 |  | 12,227 |  | 15,630 |  | 596 |  | (8) |  | 28,445 |
Redevelopment, renovation and expansion projects: |  |  |  |  |  |  |  |  |
Assisted living |  | 3 |  | 8 |  | 10,737 |  | 146 |  | — |  | 10,891 |
Skilled nursing |  | 5 |  | 2,433 |  | 711 |  | — |  | (1,433) |  | 1,711 |
Subtotal |  | 8 |  | 2,441 |  | 11,448 |  | 146 |  | (1,433) |  | 12,602 |
Total |  | 14 |  | $ 14,668 |  | $ 27,078 |  | $ 742 |  | $ (1,441) |  | $41,047(2) |
(1) Excludes $450 of capital improvement commitment funding on a completed project which was capitalized directly into building. (2) Includes capitalized interest and excludes completed projects.
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, 2014 (dollar amounts in thousands):
|  |  |  | Percentage |  |  |  | Number |  | Number of |  | Investment |
|  | Gross |  | of |  | Number |  | of |  | SNF |  | ALF |  | per |
Type of Property |  | Investments |  | Investments |  | of Loans |  | Properties(1) |  | Beds |  | Units |  | Bed/Unit |
Skilled Nursing(2) |  | $ 155,287 |  | 91.5% |  | 16 |  | 33 |  | 3,919 |  | — |  | $ 39.62 |
Assisted Living |  | 12,018 |  | 7.1% |  | 3 |  | 8 |  | — |  | 211 |  | $ 56.96 |
Range of Care |  | 2,461 |  | 1.4% |  | 1 |  | 1 |  | 99 |  | 74 |  | $ 14.23 |
Totals |  | $ 169,766 |  | 100.0% |  | 20 |  | 42 |  | 4,018 |  | 285 |  |  |
(1) We have investments in properties located in 9 states that include mortgages to 12 different operators. (2) Includes a mortgage and construction loan secured by a closed skilled nursing property and a newly constructed 106-bed replacement property.

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- Definition Tabular disclosure of the terms and amounts of participation in loan arrangements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=29639217&loc=d3e10013-112621 + Details
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