Commitments and Contingencies

3 Months Ended

Mar. 31, 2021

8.	Commitments and Contingencies

At March 31, 2021, we had commitments as follows (in thousands):


						Total
	Investment			2021		Commitment		Remaining
	Commitment			Funding		Funded		Commitment
Real estate properties(Note 2. Real Estate Investments)	$	16,085	⁽¹⁾	$	829	$	8,176	$	7,909
Accrued incentives and earn-out liabilities (Note 5. Lease Incentives)		9,000			—		—		9,000
Mortgage loans (Note 2. Real Estate Investments)		21,000	⁽²⁾		32		3,413		17,587
Notes receivable (Note 4. Notes Receivable)		1,845			353		1,090		755
Total	$	47,930		$	1,214	$	12,679	$	35,251

(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)	Represents $3,000 of commitments to expand and renovate the seniors housing and health care properties securing the mortgage loans and $18,000 represents contingent funding upon the borrower achieving certain coverage ratios.

Also, some of our lease agreements provide purchase options allowing the lessee to purchase the properties they currently lease from us. See Note 2. Real Estate Investments for a table summarizing information about our purchase options.

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.