Question-and-Answer Session
Operator
Thank you, sir. (Operator Instructions). Your first question is from Karin Ford with KeyBanc.
Karin Ford - KeyBanc
George, your comment earlier about seeing the inflexion point where you were getting comfortable to be more active on the investment front. What have you seen that gives you that view and what we could expect from an investment standpoint volumes and categories of assets going forward?
George Chapman
First of all, everybody is just trying to make the best balanced judgment as to when to make investments and what kind. We'll be limiting any investments to very high quality, selective portfolios and frankly, there have not been a lot of really good, high quality packages yet in the senior housing area.
We are seeing more opportunities perhaps in the medical facilities arena. What has made us feel more comfortable? One, we funded everything through 2012 and that assumes we have to pay off all of our convertible debt which is becoming perhaps less likely as our stock price moves up.
Two, the strength of the capital markets, the improvement in the unsecured note arena that we've seen in the last couple of days. Stock prices have moved and so there are certainly signs out there that it's time for companies to be looking much harder at investments and when we do, we'll be looking for hopefully acquisitions if we can find them. But in any event, combination facilities within senior housing and customer-centric acute care facilities, both hospitals and larger, better, nicer MOBs as well.
Karin Ford - KeyBanc
Along those lines, we had seen articles that you guys had been selected as the winning bidder on a $1 billion development project in Nassau County in Long Island. Can you just talk about that project and timing and scope and what your capital commitment will likely be?
George Chapman
I'll turn this over to John Thomas in just a minute, but let me say that perhaps we have to coordinate a little bit more closely with some of the health systems. They were enthusiastic in terms of getting out their release. We're very enthusiastic about working with them, but that charge so far is to be the master developer and if we can provide other services and provide capital later at some point, that would be great as well.
John Thomas
We couldn't be more pleased about the relationship with Nassau. It's really a reflection of the full spectrum of what Health Care REIT is across the senior housing, acute care, medical office building and amateur care environment with our development capabilities, access to capital and really strategic planning expertise that we have.
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