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Commitments and Contingencies (Tables) | 9 Months Ended
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Sep. 30, 2024
Commitments and Contingencies |
Schedule of commitments | At September 30, 2024, we had commitments as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Total | ​ | ​ | ​
​ | ​ | Investment | ​ | 2024 | ​ | Commitment | ​ | Remaining
​ | ​ | Commitment | ​ | Funding | ​ | Funded | ​ | Commitment
Real estate properties (Note 2. Real Estate Investments) | ​ | $ | 15,920 | (1) | $ | 7,862 | ​ | $ | 8,814 | ​ | $ | 7,106
Accrued incentives and earn-out liabilities (Note 5. Lease Incentives) | ​ | ​ | 6,625 | (2) | ​ | 587 | ​ | ​ | 2,045 | ​ | ​ | 4,580
Mortgage loans (Note 2. Real Estate Investments) | ​ | ​ | 63,620 | (3) | ​ | 9,999 | ​ | ​ | 11,999 | ​ | ​ | 51,621
Joint venture investments (Note 3. Investments in Unconsolidated Joint Ventures) | ​ | ​ | 1,536 | (4) | ​ | 98 | ​ | ​ | 98 | ​ | ​ | 1,438
Notes receivable (Note 4. Notes Receivable) | ​ | ​ | 940 | (5) | ​ | 50 | ​ | ​ | 50 | ​ | ​ | 890
Total | ​ | $ | 88,641 | ​ | $ | 18,596 | ​ | $ | 23,006 | ​ | $ | 65,635
(1) | Represents commitments to purchase land and improvements, if applicable, and to develop, re-develop, renovate or expand seniors housing and skilled nursing properties.
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(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 in April 2024 through March 2027. If neither option is elected within the timeframe defined in the lease, both elections are terminated. For more information regarding the purchase option see Note 2. Real Estate Investments.
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(3) | Represents $45,620 related to construction loans and $18,000 of commitments which are contingent upon the borrower achieving certain coverage ratios.
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(4) | Represents an interest reserve of $750 and capital expenditure reserve of $786 related to a mortgage loan secured by a SNF and ALF in Texas. The loan is accounted for as an unconsolidated JV in accordance with GAAP. For more information regarding this loan see Note 3. Investment in Unconsolidated Joint Ventures.
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(5) | Represents working capital loan commitments.

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- Definition Tabular disclosure of information about obligations resulting from other commitments. + References No definition available. + Details
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