COMMITMENTS AND CONTINGENCIES

3 Months Ended

Mar. 31, 2022

NOTE 22. COMMITMENTS AND CONTINGENCIES

Legal Proceedings

From time to time, the Company may be a party to certain legal proceedings, incidental to the normal course of its business. While the outcome of the legal proceedings cannot be predicted with certainty, the Company does not expect that these proceedings will have a material effect upon our financial condition or results of operations.

Contractual Commitments – Expenditures

The Company has committed to fund the following capital improvements. The improvements, which are related to several properties, are estimated to be generally completed within twelve months. These commitments, as of March 31, 2022, are as follows (in thousands):


	As of March 31, 2022
Total Commitment ⁽¹⁾	$	23,533
Less Amount Funded		(8,139)
Remaining Commitment	$	15,394

⁽¹⁾ Commitment includes tenant improvements, leasing commissions, rebranding, facility expansion and other capital improvements.

In addition, the Company is committed to fund the construction loan originated on January 26, 2022 as described in Note 4. Commercial Loan and Master Lease Investments. The construction loan is for an amount up to $8.7 million, of which none was funded as of March 31, 2022.