Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2022

At December 31, 2022, we had commitments as follows (in thousands):


						Total
	Investment			2022		Commitment		Remaining
	Commitment			Funding		Funded		Commitment
Real estate properties(Note 5. Real Estate Investments)	$	22,102	⁽¹⁾	$	7,263	$	8,315	$	13,787
Accrued incentives and earn-out liabilities (Note 8. Lease Incentives)		19,000	⁽²⁾		—		—		19,000
Mortgage loans (Note 5. Real Estate Investments)		32,507	⁽³⁾		5,873		9,613		22,894
Notes receivable (Note 7. Notes Receivable)		27,541			12,192		15,962		11,579
Total	$	101,150		$	25,328	$	33,890	$	67,260

(1)	Represents commitments to purchase land and improvements, if applicable, and to develop, re-develop, renovate or expand seniors housing and health care properties.

(2)

Includes an earn-out payment of up to $3,000 to an operator under a master lease on four SNFs in Texas which were acquired during 2022. The master lease allows either an earn-out payment up to $3,000 or a purchase option. The earn-out payment is available, contingent on achieving certain thresholds per the lease, beginning at the end of the second lease year through the end of the fifth lease year. If neither option is elected within the timeframe defined in the lease, both elections are terminated.

(3)	Represents $14,507 of commitments to expand and renovate the seniors housing and health care properties securing the mortgage loans and $18,000 represents contingent funding upon the borrower achieving certain coverage ratios.