LOANS RECEIVABLE AND INVESTMENTS

As of June 30, 2015 and December 31, 2014, we had $824.8 million and $927.7 million, respectively, of net loans receivable and investments relating to seniors housing and healthcare operators or properties. The following is a summary of our net loans receivable and investments as of June 30, 2015 and December 31, 2014, including amortized cost, fair value and unrealized gains (losses) on available-for-sale investments:



	June 30, 2015
	Carrying Amount		Amortized Cost		Fair Value		Unrealized Gain (Loss)
	(In thousands)

Secured mortgage loans and other	$	726,183	$	726,183	$	723,423	$	—
Government-sponsored pooled loan investments	63,225		61,722		63,225		1,503
Total investments reported as Secured loans receivable and investments, net	789,408		787,905		786,648		1,503

Unsecured loans receivable	35,408		35,408		36,843		—
Total investments reported as Other assets	35,408		35,408		36,843		—
Total net loans receivable and investments	$	824,816	$	823,313	$	823,491	$	1,503



	December 31, 2014
	Carrying Amount		Amortized Cost		Fair Value		Unrealized Gain (Loss)
	(In thousands)

Secured mortgage loans and other	$	766,641	$	766,641	$	774,789	$	—
Government-sponsored pooled loan investments	63,115		61,377		63,115		1,738
Total investments reported as Secured loans receivable and investments, net	829,756		828,018		837,904		1,738

Unsecured loans receivable	21,862		21,862		23,164		—
Marketable securities	76,046		71,000		76,046		5,046
Total investments reported as Other assets	97,908		92,862		99,210		5,046
Total net loans receivable and investments	$	927,664	$	920,880	$	937,114	$	6,784

2015 Activity

In June 2015 we sold our $71.0 million investment in senior unsecured corporate bonds for $76.8 million. For the three and six months ended June 30, 2015 we recognized a gain of $5.8 million (included within income from loans and investments in our Consolidated Statements of Income). This gain includes $5.0 million that was previously unrealized within accumulated other comprehensive income on our Consolidated Balance Sheets as of December 31, 2014.

During the six months ended June 30, 2015, we received aggregate proceeds of $86.2 million in final repayment of one secured and one unsecured loan receivable. We recognized gains aggregating $1.5 million on the repayment of these loans receivable that are recorded in income from loans and investments in our Consolidated Statements of Income for the six months ended June 30, 2015.

2014 Activity

During the year ended December 31, 2014, we made a $425.0 million secured mezzanine loan investment that has a blended annual interest rate of 8.1% and has contractual maturities ranging between 2016 and 2019, and we purchased $71.0 million principal amount of senior unsecured corporate bonds, a $38.7 million interest in a government-sponsored pooled loan investment, and $21.7 million of marketable equity securities. During the year ended December 31, 2014, we sold all of our marketable equity securities for $22.3 million and recognized a gain of $0.6 million. Our investments in marketable debt securities and government-sponsored pooled loans are classified as available-for-sale, with contractual maturity dates in 2022 and 2023.

During the year ended December 31, 2014, we received aggregate proceeds of $55.9 million in final repayment of three secured and two unsecured loans receivable. We recognized aggregate gains aggregating $5.2 million on the repayment of these loans receivable that are recorded in income from loans and investments in our Consolidated Statements of Income for the year ended December 31, 2014.