XML 49 R12.htm IDEA: XBRL DOCUMENT v2.4.0.8
Mortgage And Other Notes Receivable
6 Months Ended
Jun. 30, 2014
Financing Receivable, Net [Abstract]  
Mortgage Notes Receivable
MORTGAGE AND OTHER NOTES RECEIVABLE

At June 30, 2014, we had investments in mortgage notes receivable with a carrying value of $35,057,000 secured by real estate and UCC liens on the personal property of 11 health care properties and other notes receivable with a carrying value of $25,797,000 guaranteed by significant parties to the notes or by cross-collateralization of properties with the same owner. No allowance for doubtful accounts was considered necessary at June 30, 2014.

Due to non-receipt of contractual payments, in March 2013 we evaluated the recoverability of the SeniorTrust notes and recognized an impairment to the carrying value in the total amount of $4,037,000.

In June 2014 we entered into a $500,000 revolving loan with our joint venture partner, an affiliate of Bickford, to fund pre-development expenses related to potential future projects. Interest is payable monthly at 10% and the note matures in August 2015. The outstanding balance at June 30, 2014 was $84,000.