Notes Receivable

12 Months Ended

Dec. 31, 2015

Notes Receivable

Notes Receivable

7. Notes Receivable

Notes receivable consist of various loans, and line of credit agreements with certain operators. During 2015, we committed to fund five new working capital loans to existing operators as follows (dollar amounts in thousands):

	Total		Interest		Maturity
Type of Property	Commitment		Rate		Date
Assisted Living	$	500	6.50	%	2020
Under Development		400	12.00	%	2017
Under Development		400	12.25	%	2016
Under Development		400	12.00	%	2017
Under Development		400	12.00	%	2017
Totals	$	2,100

At December 31, 2015, we had eight loan and line of credit agreements with commitments totaling $2,725,000 and a remaining combined commitment balance of $2,317,000. The weighted average interest rate of these loan commitments is 9.9%. The following table summarizes our notes receivable activities for the fiscal years 2015, 2014 and 2013 (dollar amounts in thousands):

	Year ended December 31,
	2015		2014		2013
Advances under notes receivable	$	1,554	$	1,263	$	1,004
Principal payments received under notes receivable		—		(113)		(3,110)
Reclassed to real estate under development(1)		(1,035)		(304)		(479)
Net increase (decrease) in notes receivable	$	519	$	846	$	(2,585)

⁽¹⁾ Represents pre-development loans which matured due to land acquisitions and commencement of development projects.