NIC - National Investment Center








Loan Performance

Quarter Ending 3/31/08

Reported proportion of outstanding investments in the seniors housing and long term care industry that are:

Performing - (Loans not in foreclosure, delinquency, or restructuring, although may include loans not in payment default, but not in compliance with non-payment financial covenants OR loans that are otherwise on a lender's "watch list" for possible deteriorating performance.) 99.3%
Restructured - (Loans where basic terms, such as interest rate, maturity date, collateral or guaranty have been restructured as a result of actual or anticipated delinquency, but where loan is performing according to restructured terms.) 0.4%
Delinquent - (Includes all loans in process of foreclosure, or loans 2 or more scheduled payments past due.) 0.3%
Foreclosed - (Loans where title to the property has been acquired during the year through foreclosure.) 0%

What portion of total outstanding Permanent (more than 10 year-term)debt investments are:

There were no reported non-performing permanent investments for Q1, 2008.



What portion of total outstanding Short-term loans are:

Property Type Foreclosed
during the
calendar year
Delinquent Loans with
Restructured
Terms
Independent Living --.23
Assisted Living -0.51.74
Nursing Homes -2.52-
CCRCs ---