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COMMITMENTS AND CONTINGENCIES (Tables)
9 Months Ended
Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Commitments and Contingencies
The table below summarizes the Company’s existing, known commitments and contingencies as of September 30, 2024 (in thousands):
Remaining Commitment
Capital expenditures(1)
$14,847 
Mortgage loans(2)
4,700 
Other loans receivable(3)
1,415 
Earn-out obligation(4)
10,000 
$30,962 
(1)As of September 30, 2024, the Company had committed to fund expansions, construction, capital improvements and ESG incentives at certain triple-net leased facilities totaling $14.8 million, of which $7.2 million is subject to rent increase at the time of funding.
(2)One mortgage loan includes an earn-out advance upon satisfaction of certain conditions. On October 11, 2024, these conditions were satisfied and the earn-out was funded.
(3)Represents working capital loan commitments.
(4)Includes an earn-out obligation of up to $10.0 million under a purchase and sale agreement for one SNF in Virginia, which was acquired during 2024. The earn-out is available, contingent on the operator achieving certain thresholds per the agreement, beginning in October 2025 through October 2026.