Notes Receivable

6 Months Ended

Jun. 30, 2015

Notes Receivable

Notes Receivable

4.Notes Receivable

Notes receivable consists of various loans and line of credit agreements with certain operators. The following table summarizes our notes receivable activities for the six months ended June 30, 2015 and 2014 are as follows (dollar amounts in thousands):

	Six months ended June 30,
		2015			2014
Advances under notes receivable	$	1,254		$	89
Principal payments received under notes receivable		—			(72)
Reclassed to real estate under development		(316)	(1)		—
Net increase in notes receivable	$	938		$	17

(1) Represents a pre-development loan which matured due to the acquisition of land and commencement of a development project.

At June 30, 2015, we had 9 loans and line of credit agreements with on-going commitments totaling $3,288,000 and weighted average interest rate of 10.4%. As of June 30, 2015, we have a remaining commitment of $2,033,000.