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Real Estate Investments (Tables) | 3 Months Ended
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Mar. 31, 2015
Summary of investments in owned properties | The following table summarizes our investments in owned properties at March 31, 2015 (dollar amounts in thousands):
|  |  |  |  |  |  |  |  |  |  |  |  | Average |
|  |  |  |  | Percentage |  | Number |  | Number of |  | Investment |
|  | Gross |  | of |  | of |  | SNF |  | ALF |  | per |
Type of Property |  | Investments |  | Investments |  | Properties(1) |  | Beds |  | Units |  | Bed/Unit |
Skilled Nursing |  | $ | 499,580 |  | 50.8 | % | 69 |  | 8,513 |  | — |  | $ | 58.68 |
Assisted Living |  |  | 416,079 |  | 42.3 | % | 85 |  | — |  | 4,236 |  | $ | 98.22 |
Range of Care |  |  | 43,907 |  | 4.5 | % | 7 |  | 634 |  | 274 |  | $ | 48.36 |
Under Development(2) |  |  | 13,136 |  | 1.3 | % | — |  | — |  | — |  |  | — |
Other(3) |  |  | 10,883 |  | 1.1 | % | 1 |  | — |  | — |  |  | — |
Totals |  | $ | 983,585 |  | 100.0 | % | 162 |  | 9,147 |  | 4,510 |  |  |  |
| (1) |  | We own properties in 27 states that are leased to 29 different operators.
| (2) |  | Includes two MC developments with a total of 122 units and a combination ALF and MC development with 89 units.
Includes one school property and five parcels of land held-for-use.
Schedule of completed development, improvement and construction projects | The following table summarizes our completed development and improvement projects and amounts funded during the three months ended March 31, 2015 (dollar amounts in thousands):
|  | Number |  |  |  | Number |  |  |  |  |  |  |  |  |
|  | of |  | Type of |  | of |  |  |  |  |  |  |  |  |
Type of Project |  | Properties |  | Property |  | Beds/Units |  | State |  | 2015 Funding |  | Total Funding |
Development |  | 1 |  | ALF |  | 60 |  | Colorado |  | $ | 1,360 |  | $ | 10,541 | (1)
Renovation |  | 1 |  | SNF |  | 121 |  | California |  |  | 1,481 |  |  | 1,481 |
Renovation |  | 2 |  | SNF |  | 141 |  | Tennessee |  |  | 40 |  |  | 2,200 |
|  | 4 |  |  |  | 322 |  |  |  | $ | 2,881 | (2) | $ | 14,222 |
| (1) |  | Completed a MC property in February 2015.
Excludes $5,692 of funding on projects that were completed during 2014.
Schedule of commitments | At March 31, 2015, we had additional commitments as follows (in thousands):
|  | Investment |  | 2015 |  | Commitment |  | Remaining |
|  | Commitment |  | Funding |  | Funded |  | Commitment |
Real estate properties (See Note 2) |  | $ | 52,365 | (1) | $ | 11,081 |  | $ | 13,169 |  | $ | 39,196 |
Mortgage loans (See Note 2) |  |  | 33,990 | (1) |  | 1,858 |  |  | 5,196 |  |  | 28,794 |
Notes receivable (See Note 4) |  |  | 4,288 | (2) |  | 892 |  |  | 2,334 |  |  | 1,954 |
Totals |  | $ | 90,643 |  | $ | 13,831 |  | $ | 20,699 |  | $ | 69,944 |
| (1) |  | Represents commitments to purchase land and improvements, if applicable, and to develop, re-develop, renovate or expand senior housing and long term care properties.
Represents loan and line of credit commitments.
Schedule of development, redevelopment, renovation, and expansion activity | Our construction in progress (or CIP) activity during the three months ended March 31, 2015 for our development, redevelopment, renovation, and expansion projects is as follows (dollar amounts in thousands):
|  | CIP |  |  |  |  |  |  |  |  |  |  | CIP |
|  | Balance at |  |  |  |  | Capitalized |  | Conversions |  | Balance at |
Properties |  | 12/31/2014 |  | Funded(1) |  | Interest |  | out of CIP |  | 3/31/2015 |
Development projects: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assisted living |  | $ | 8,671 |  | $ | 8,961 |  | $ | 147 |  | $ | (9,413) |  | $ | 8,366 |
Subtotal |  |  | 8,671 |  |  | 8,961 |  |  | 147 |  |  | (9,413) |  |  | 8,366 |
Redevelopment, renovation and expansion projects: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Skilled nursing |  |  | — |  |  | 25 |  |  | — |  |  | — |  |  | 25 |
Subtotal |  |  | — |  |  | 25 |  |  | — |  |  | — |  |  | 25 |
Total |  | $ | 8,671 |  | $ | 8,986 |  | $ | 147 |  | $ | (9,413) |  | $ | 8,391 |
Excludes $7,298 of funding on development and renovations projects which was capitalized directly into building and includes the acquisition of the existing improvements of the 56-unit MC property for $6,315, as previously discussed.
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, 2015 (dollar amounts in thousands):
|  |  |  |  | Percentage |  | Number |  | Number |  | Number of |  | Investment |
|  | Gross |  | of |  | of |  | of |  | SNF |  | ALF |  | per |
Type of Property |  | Investments |  | Investments |  | Loans |  | Properties(1) |  | Beds |  | Units |  | Bed/Unit |
Skilled Nursing |  | $ | 151,352 |  | 91.6 | % | 15 |  | 29 |  | 3,701 |  | — |  | $ | 40.89 |
Assisted Living |  |  | 13,948 |  | 8.4 | % | 3 |  | 8 |  | — |  | 270 |  | $ | 51.66 |
Totals |  | $ | 165,300 |  | 100.0 | % | 18 |  | 37 |  | 3,701 |  | 270 |  |  |  |
We have investments in properties located in 7 states that include mortgages to 10 different operators.
Real Estate Properties Commitments [Member] |
Schedule of commitments | The following table summarizes our investment commitments as of March 31, 2015, and amounts funded under these projects (excludes capitalized interest, dollar amounts in thousands):
|  |  |  |  |  |  |  |  |  |  |  |  |  | Number |  | Number |
|  | Investment |  | 2015 |  | Commitment |  | Remaining |  | of |  | of |
Type of Property |  | Commitment |  | Funding(2) |  | Funded |  | Commitment |  | Properties |  | Beds/Units |
Skilled Nursing |  | $ | 6,600 |  | $ | 25 |  | $ | 25 |  | $ | 6,575 |  | 3 |  | 510 |
Assisted Living(1) |  |  | 45,765 |  |  | 11,056 |  |  | 13,144 |  |  | 32,621 |  | 27 |  | 1,240 |
Totals |  | $ | 52,365 |  | $ | 11,081 |  | $ | 13,169 |  | $ | 39,196 |  | 30 |  | 1,750 |
| (1) |  | Includes the development of two MC properties for a total commitment of $24,430 and one ALF/MC property for a total commitment of $16,535. Also, includes three commitments for renovation projects on 24 ALFs totaling $4,800.
Excludes funding for completed development and improvement projects discussed above. Includes $7,195 of land and improvements acquired for the development of a 56-unit MC property and $2,490 of land acquired for the development of an 89-unit ALF/MC property, as previously discussed.

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