Commitments and Contingencies

3 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and Contingencies

At March 31, 2020, we had 12 outstanding letter of credit obligations totaling $42,219,000 and expiring between 2020 and 2024. At March 31, 2020, we had outstanding construction in progress of $431,497,000 and were committed to providing additional funds of approximately $373,422,000 to complete construction. Additionally, at March 31, 2020, we had outstanding investments classified as in substance real estate of $210,994,000 and were committed to provide additional funds of $251,495,000 (see Note 8 for additional information). Purchase obligations at March 31, 2020 also include $20,764,000 of contingent purchase obligations to fund capital improvements. Rents due from the tenant are increased to reflect the additional investment in the property.