Commitments and Contingencies

6 Months Ended

Jun. 30, 2016

7.Commitments and Contingencies

At June 30, 2016, we had commitments as follows (in thousands):


						Total
	Investment			2016		Commitment		Remaining
	Commitment			Funding		Funded		Commitment
Real estate properties (See Note 2)	$	99,152	(1)	$	27,400	$	60,523	$	38,629
Accrued incentives and earn-out liabilities (2)		18,600			1,434		2,239		16,361
Lease incentives		6,202			593		1,048		5,154
Mortgage loans (See Note 2)		63,490	(1)		3,879		14,142		49,348
Joint venture investments (See Note 3)		25,650			480		20,623		5,027
Notes receivable (See Note 4)		2,525			122		297		2,228
Totals	$	215,619		$	33,908	$	98,872	$	116,747

⁽¹⁾

Represents commitments to purchase land and improvements, if applicable, and to develop, re-develop, renovate or expand seniors housing and health care properties.

⁽²⁾

During the three and six months ended June 30, 2016, we recorded non‑cash interest expense of $315,000 related to these contingent liabilities and the fair value of our contingent payments was $13,717,000 at June 30, 2016.

We are a party from time to time to various general and professional liability claims and lawsuits asserted against the lessees or borrowers of our properties, which in our opinion are not singularly or in the aggregate material to our results of operations or financial condition. These types of claims and lawsuits may include matters involving general or professional liability, which we believe under applicable legal principles are not our responsibility as a non-possessory landlord or mortgage holder. We believe that these matters are the responsibility of our lessees and borrowers pursuant to general legal principles and pursuant to insurance and indemnification provisions in the applicable leases or mortgages. We intend to continue to vigorously defend such claims.