NOTE 6—LOANS RECEIVABLE AND INVESTMENTS

As of March 31, 2017 and December 31, 2016, we had $1.5 billion and $754.6 million, respectively, of net loans receivable and investments relating to seniors housing and healthcare operators or properties. The following is a summary of our net loans receivable and investments as of March 31, 2017 and December 31, 2016, including amortized cost, fair value and unrealized gains or losses on available-for-sale investments:



	Carrying Amount		Amortized Cost		Fair Value		Unrealized Gain
	(In thousands)
As of March 31, 2017:
Secured/mortgage loans and other	$	1,343,173	$	1,343,173	$	1,361,388	$	—
Government-sponsored pooled loan investments ⁽¹⁾	55,244		54,128		55,244		1,116
Total investments reported as Secured loans receivable and investments, net	1,398,417		1,397,301		1,416,632		1,116

Non-mortgage loans receivable, net	54,630		54,630		55,218		—
Total investments reported as Other assets	54,630		54,630		55,218		—
Total loans receivable and investments, net	$	1,453,047	$	1,451,931	$	1,471,850	$	1,116

As of December 31, 2016:
Secured/mortgage loans and other	$	646,972	$	646,972	$	655,981	$	—
Government-sponsored pooled loan investments ⁽¹⁾	55,049		53,810		55,049		1,239
Total investments reported as Secured loans receivable and investments, net	702,021		700,782		711,030		1,239

Non-mortgage loans receivable, net	52,544		52,544		53,626		—
Total investments reported as Other assets	52,544		52,544		53,626		—
Total loans receivable and investments, net	$	754,565	$	753,326	$	764,656	$	1,239

⁽¹⁾ Investments in government-sponsored pool loans have contractual maturity dates in 2023.

2017 Activity

In March 2017, we provided secured debt financing to a subsidiary of Ardent to facilitate Ardent’s acquisition of LHP Hospital Group, Inc. (“LHP”), which included a $700 million term loan and a $60.0 million revolving line of credit feature (of which $15.0 million was outstanding at March 31, 2017). The LIBOR-based debt financing has a five-year term with a weighted average interest rate of approximately 8.9% and is guaranteed by Ardent’s parent company.

In April 2017, we received $5.8 million as a partial prepayment of a secured loan receivable.