Commitments and Contingencies

3 Months Ended

Mar. 31, 2017

7.Commitments and Contingencies

At March 31, 2017, we had commitments as follows (in thousands):

September 30, 2016, we had commitments as follows (in thousands):
						Total
	Investment			2017		Commitment		Remaining
	Commitment			Funding		Funded		Commitment
Real estate properties (See Note 2)	$	66,224	(1)	$	3,501	$	20,905	$	45,319
Accrued incentives and earn-out liabilities (2)		14,600			—		—		14,600
Lease incentives		8,808			3,035		5,817		2,991
Mortgage loans (See Note 2)		51,000	(1)		4,384		9,722		41,278
Joint venture investments (See Note 3)		29,050			914		22,827		6,223
Notes receivable (See Note 4)		200			—		—		200
Totals	$	169,882		$	11,834	$	59,271	$	110,611

⁽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 months ended March 31, 2017, we recorded non‑cash interest expense of $226 related to these contingent liabilities and the fair value of our contingent payments was $12,015 at March 31, 2017.

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.