Lease Incentives (Tables)

9 Months Ended

Sep. 30, 2023

Lease Incentives

Summary of lease incentive activity

at September 30, 2023 and December 31, 2022 were $2,193,000 and $1,789,000, respectively. The following table summarizes our lease incentives activity for the nine months ended September 30, 2023 and 2022 (in thousands):

	Nine Months Ended September 30,
		2023			2022
Lease incentives funded	$	1,023	(1)	$	418
Amortization of lease incentives		(584)			(665)
Adjustment for collectability of lease incentives		—			(256)	(3)
Other adjustments (2)		(35)			(174)
Net increase (decrease) in non-contingent lease incentives	$	404		$	(677)

(1) As part of our investment in a $54,134 JV, we committed to fund $2,100 of lease incentive, of which $1,004 was funded during the nine months ended September 30, 2023.

(2) Primarily relates to lease incentive balance write-off related to property sales.

(3) Represents the lease incentive balance write-off related to a closed property and subsequent lease termination and lease incentive balance write-off related to 12 assisted living communities transitioned to an existing operator.