Document and Entity Information
Document and Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2019 | Feb. 17, 2020 | Jun. 30, 2019 | |
Document and Entity Information [Abstract] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Entity File Number | 001-34950 | ||
Entity Registrant Name | SABRA HEALTH CARE REIT, INC. | ||
Entity Incorporation, State or Country Code | MD | ||
Entity Tax Identification Number | 27-2560479 | ||
Entity Address, Address Line One | 18500 Von Karman Avenue | ||
Entity Address, Address Line Two | Suite 550 | ||
Entity Address, City or Town | Irvine | ||
Entity Address, State or Province | CA | ||
Entity Address, Postal Zip Code | 92612 | ||
City Area Code | 888 | ||
Local Phone Number | 393-8248 | ||
Title of 12(b) Security | Common Stock, $0.01 par value | ||
Trading Symbol | SBRA | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 3.7 | ||
Entity Common Stock, Shares Outstanding | 205,274,476 | ||
Entity Central Index Key | 0001492298 | ||
Current Fiscal Year End Date | --12-31 | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Documents Incorporated by Reference | Portions of the Proxy Statement for the registrant’s 2020 Annual Meeting of Stockholders, to be filed with the Securities and Exchange Commission not later than 120 days after December 31, 2019 , are incorporated by reference in Part III herein. |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Assets | ||
Real estate investments, net of accumulated depreciation of $539,213 and $402,338 as of December 31, 2019 and 2018, respectively | $ 5,341,370 | $ 5,853,545 |
Loans receivable and other investments, net | 107,374 | 113,722 |
Investment in unconsolidated joint venture | 319,460 | 340,120 |
Cash and cash equivalents | 39,097 | 50,230 |
Restricted cash | 10,046 | 9,428 |
Lease intangible assets, net | 101,509 | 131,097 |
Accounts receivable, prepaid expenses and other assets, net | 150,443 | 167,161 |
Total assets | 6,069,299 | 6,665,303 |
Liabilities | ||
Secured debt, net | 113,070 | 115,679 |
Revolving credit facility | 0 | 624,000 |
Term loans, net | 1,040,258 | 1,184,930 |
Senior unsecured notes, net | 1,248,773 | 1,307,394 |
Accounts payable and accrued liabilities | 108,792 | 94,827 |
Lease intangible liabilities, net | 69,946 | 83,726 |
Total liabilities | 2,580,839 | 3,410,556 |
Commitments and contingencies (Note 16) | ||
Equity | ||
Preferred stock, $.01 par value; 10,000,000 shares authorized, zero shares issued and outstanding as of December 31, 2019 and 2018 | 0 | 0 |
Common stock, $.01 par value; 250,000,000 shares authorized, 205,208,018 and 178,306,528 shares issued and outstanding as of December 31, 2019 and 2018, respectively | 2,052 | 1,783 |
Additional paid-in capital | 4,072,079 | 3,507,925 |
Cumulative distributions in excess of net income | (573,283) | (271,595) |
Accumulated other comprehensive (loss) income | (12,388) | 12,301 |
Total Sabra Health Care REIT, Inc. stockholders’ equity | 3,488,460 | 3,250,414 |
Noncontrolling interests | 0 | 4,333 |
Total equity | 3,488,460 | 3,254,747 |
Total liabilities and equity | $ 6,069,299 | $ 6,665,303 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Assets | ||
Accumulated depreciation | $ 539,213 | $ 402,338 |
Equity | ||
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 250,000,000 | 250,000,000 |
Common stock, shares issued (in shares) | 205,208,018 | 178,306,528 |
Common stock, shares outstanding (in shares) | 205,208,018 | 178,306,528 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Revenues: | |||
Rental and related revenues | $ 452,138 | $ 536,605 | $ 364,191 |
Interest and other income | 81,540 | 16,667 | 17,660 |
Resident fees and services | 128,058 | 70,137 | 26,430 |
Total revenues | 661,736 | 623,409 | 408,281 |
Expenses: | |||
Depreciation and amortization | 181,549 | 191,379 | 113,882 |
Interest | 126,610 | 147,106 | 88,440 |
Operating expenses | 49,546 | 17,860 | |
General and administrative | 30,462 | 36,458 | 32,401 |
Merger and acquisition costs | 424 | 636 | 30,255 |
Provision for doubtful accounts, straight-line rental income and loan losses | 1,238 | 39,075 | 17,113 |
Impairment of real estate | 121,819 | 1,413 | 1,326 |
Total expenses | 570,574 | 465,613 | 301,277 |
Other (expense) income: | |||
Loss on extinguishment of debt | (16,340) | (2,917) | (553) |
Other income | 2,094 | 4,480 | 536 |
Net gain on sales of real estate | 2,300 | 128,198 | 52,029 |
Total other (expense) income | (11,946) | 129,761 | 52,012 |
Income before loss from unconsolidated joint venture and income tax expense | 79,216 | 287,557 | 159,016 |
Loss from unconsolidated joint venture | (6,796) | (5,431) | 0 |
Income tax expense | (3,402) | (3,011) | (651) |
Net income | 69,018 | 279,115 | 158,365 |
Net (income) loss attributable to noncontrolling interests | (22) | (33) | 18 |
Net income attributable to Sabra Health Care REIT, Inc. | 68,996 | 279,082 | 158,383 |
Preferred stock dividends | 0 | (9,768) | (10,242) |
Net income attributable to common stockholders | $ 68,996 | $ 269,314 | $ 148,141 |
Net income attributable to common stockholders, per: | |||
Basic common share (in dollars per share) | $ 0.37 | $ 1.51 | $ 1.40 |
Diluted common share (in dollars per share) | $ 0.37 | $ 1.51 | $ 1.40 |
Weighted-average number of common shares outstanding, basic (in shares) | 187,172,210 | 178,305,738 | 105,621,242 |
Weighted-average number of common shares outstanding, diluted (in shares) | 188,127,092 | 178,721,744 | 105,842,434 |
Triple-Net Portfolio | |||
Expenses: | |||
Operating expenses | $ 22,215 | $ 0 | $ 0 |
Senior Housing - Managed | |||
Expenses: | |||
Operating expenses | $ 86,257 | $ 49,546 | $ 17,860 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 69,018 | $ 279,115 | $ 158,365 |
Unrealized gain (loss), net of tax: | |||
Foreign currency translation gain | 679 | 720 | 154 |
Unrealized (loss) gain on cash flow hedges | (25,368) | 292 | 12,933 |
Total other comprehensive (loss) income | (24,689) | 1,012 | 13,087 |
Comprehensive income | 44,329 | 280,127 | 171,452 |
Comprehensive (income) loss attributable to noncontrolling interest | (22) | (33) | 18 |
Comprehensive income attributable to Sabra Health Care REIT, Inc. | $ 44,307 | $ 280,094 | $ 171,470 |
CONSOLIDATED STATEMENTS OF CO_2
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | |||
Income tax expense (benefit) on unrealized gains on cash flow hedges | $ (49,000) | $ (48,000) | $ 100,000 |
CONSOLIDATED STATEMENTS OF EQUI
CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands | Total | Total Stockholders’ Equity | Preferred Stock | Common Stock | Additional Paid-in Capital | Cumulative Distributions in Excess of Net Income | Accumulated Other Comprehensive (Loss) Income | Noncontrolling Interests |
Beginning balance (in shares) at Dec. 31, 2016 | 5,750,000 | 65,285,614 | ||||||
Beginning balance at Dec. 31, 2016 | $ 1,015,609 | $ 1,015,574 | $ 58 | $ 653 | $ 1,208,862 | $ (192,201) | $ (1,798) | $ 35 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income (loss) | 158,365 | 158,383 | 158,383 | (18) | ||||
Other comprehensive income (loss) | 13,087 | 13,087 | 13,087 | |||||
Change in noncontrolling interests | 4,455 | 4,455 | ||||||
Distributions to noncontrolling interests | (30) | (30) | ||||||
Amortization of stock-based compensation | 9,244 | 9,244 | 9,244 | |||||
Common stock issuance, net (in shares) | 112,970,229 | |||||||
Common stock issuance, net | 2,419,937 | 2,419,937 | $ 1,130 | 2,418,807 | ||||
Preferred dividends | (10,242) | (10,242) | (10,242) | |||||
Common dividends | (173,176) | (173,176) | (173,176) | |||||
Ending balance (in shares) at Dec. 31, 2017 | 5,750,000 | 178,255,843 | ||||||
Ending balance at Dec. 31, 2017 | 3,437,249 | 3,432,807 | $ 58 | $ 1,783 | 3,636,913 | (217,236) | 11,289 | 4,442 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income (loss) | 279,115 | 279,082 | 279,082 | 33 | ||||
Other comprehensive income (loss) | 217 | 217 | 217 | |||||
Distributions to noncontrolling interests | (142) | (142) | ||||||
Amortization of stock-based compensation | 9,574 | 9,574 | 9,574 | |||||
Preferred stock redemption (in shares) | (5,750,000) | |||||||
Preferred stock redemption | (143,750) | (143,750) | $ (58) | (138,191) | (5,501) | |||
Common stock issuance, net (in shares) | 50,685 | |||||||
Common stock issuance, net | (371) | (371) | $ 0 | (371) | ||||
Preferred dividends | (4,267) | (4,267) | (4,267) | |||||
Common dividends | (322,878) | (322,878) | (322,878) | |||||
Ending balance (in shares) at Dec. 31, 2018 | 0 | 178,306,528 | ||||||
Ending balance at Dec. 31, 2018 | 3,254,747 | 3,250,414 | $ 0 | $ 1,783 | 3,507,925 | (271,595) | 12,301 | 4,333 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income (loss) | 69,018 | 68,996 | 68,996 | 22 | ||||
Other comprehensive income (loss) | (24,689) | (24,689) | (24,689) | |||||
Buyout of noncontrolling interests | 0 | 4,039 | 4,039 | (4,039) | ||||
Distributions to noncontrolling interests | (316) | (316) | ||||||
Amortization of stock-based compensation | 12,567 | 12,567 | 12,567 | |||||
Common stock issuance, net (in shares) | 26,901,490 | |||||||
Common stock issuance, net | 547,817 | 547,817 | $ 269 | 547,548 | ||||
Common dividends | (338,182) | (338,182) | (338,182) | |||||
Ending balance (in shares) at Dec. 31, 2019 | 0 | 205,208,018 | ||||||
Ending balance at Dec. 31, 2019 | $ 3,488,460 | $ 3,488,460 | $ 0 | $ 2,052 | $ 4,072,079 | $ (573,283) | $ (12,388) | $ 0 |
CONSOLIDATED STATEMENTS OF EQ_2
CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of Stockholders' Equity [Abstract] | |||
Common dividends (in dollars per share) | $ 1.80 | $ 1.80 | $ 1.73 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows from operating activities: | |||
Net income | $ 69,018 | $ 279,115 | $ 158,365 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 181,549 | 191,379 | 113,882 |
Non-cash rental and related revenues | (19,449) | (36,443) | (30,352) |
Non-cash interest income | (2,212) | (2,300) | (769) |
Non-cash interest expense | 10,080 | 10,137 | 7,776 |
Stock-based compensation expense | 9,819 | 7,648 | 8,359 |
Non-cash lease termination income | (10,579) | 0 | 0 |
Loss on extinguishment of debt | 16,340 | 2,917 | 553 |
Provision for doubtful accounts, straight-line rental income and loan losses | 1,238 | 39,075 | 17,113 |
Change in fair value of contingent consideration | 0 | 0 | (426) |
Net gain on sales of real estate | (2,300) | (128,198) | (52,029) |
Impairment of real estate | 121,819 | 1,413 | 1,326 |
Loss from unconsolidated joint venture | 6,796 | 5,431 | 0 |
Distributions of earnings from unconsolidated joint venture | 13,865 | 8,910 | 0 |
Changes in operating assets and liabilities: | |||
Accounts receivable, prepaid expenses and other assets, net | (9,639) | (6,753) | (16,811) |
Accounts payable and accrued liabilities | (13,870) | (11,745) | (71,198) |
Net cash provided by operating activities | 372,475 | 360,586 | 135,789 |
Cash flows from investing activities: | |||
Acquisition of real estate | (51,136) | (261,511) | (419,905) |
Cash received in CCP Merger | 0 | 0 | 77,859 |
Origination and fundings of loans receivable | (13,065) | (50,731) | (17,239) |
Origination and fundings of preferred equity investments | 0 | (5,313) | (2,749) |
Additions to real estate | (25,451) | (27,697) | (6,954) |
Repayments of loans receivable | 18,367 | 51,789 | 32,430 |
Repayments of preferred equity investments | 5,079 | 6,870 | 3,755 |
Investment in unconsolidated joint venture | 0 | (354,461) | 0 |
Net proceeds from sales of real estate | 329,050 | 382,560 | 150,243 |
Net cash provided by (used in) investing activities | 262,844 | (258,494) | (182,560) |
Cash flows from financing activities: | |||
Net (repayments of) proceeds from revolving credit facility | (624,000) | (17,000) | 253,000 |
Proceeds from issuance of senior unsecured notes | 638,779 | 0 | 0 |
Principal payments on senior unsecured notes | (700,000) | 0 | 0 |
Proceeds from term loans | 0 | 0 | 181,000 |
Principal payments on term loans | (145,000) | 0 | 0 |
Principal payments on secured debt | (3,436) | (140,338) | (4,145) |
Payments of deferred financing costs | (15,598) | (352) | (15,337) |
Payments related to extinguishment of debt | (10,502) | (2,043) | 0 |
Payment of contingent consideration | 0 | 0 | (382) |
Distributions to noncontrolling interests | (316) | (142) | (30) |
Preferred stock redemption | 0 | (143,750) | 0 |
Issuance of common stock, net | 549,328 | (499) | 366,800 |
Dividends paid on common and preferred stock | (335,435) | (325,220) | (182,089) |
Net cash (used in) provided by financing activities | (646,180) | (629,344) | 598,817 |
Net (decrease) increase in cash, cash equivalents and restricted cash | (10,861) | (527,252) | 552,046 |
Effect of foreign currency translation on cash, cash equivalents and restricted cash | 346 | (539) | 738 |
Cash, cash equivalents and restricted cash, beginning of period | 59,658 | 587,449 | 34,665 |
Cash, cash equivalents and restricted cash, end of period | 49,143 | 59,658 | 587,449 |
Supplemental disclosure of cash flow information: | |||
Interest paid | 123,854 | 137,668 | 69,686 |
Income taxes paid | 3,911 | 1,800 | 714 |
Supplemental disclosure of non-cash investing and financing activities: | |||
Acquisition of business in CCP Merger | 0 | 0 | 3,726,092 |
Assumption of indebtedness in CCP Merger | 0 | 0 | (1,751,373) |
Stock exchanged in CCP Merger | 0 | 0 | (2,052,578) |
Real estate acquired through loan receivable foreclosure | 0 | 0 | 19,096 |
Decrease in loans receivable and other investments due to acquisition of real estate | $ 0 | $ 0 | $ (6,913) |
BUSINESS
BUSINESS | 12 Months Ended |
Dec. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
BUSINESS | BUSINESS Overview Sabra Health Care REIT, Inc. (“Sabra” or the “Company”) was incorporated on May 10, 2010 as a wholly owned subsidiary of Sun Healthcare Group, Inc. (“Sun”) and commenced operations on November 15, 2010 following Sabra’s separation from Sun (the “Separation Date”). Sabra elected to be treated as a real estate investment trust (“REIT”) with the filing of its United States (“U.S.”) federal income tax return for the taxable year beginning January 1, 2011. Sabra believes that it has been organized and operated, and it intends to continue to operate, in a manner to qualify as a REIT. Sabra’s primary business consists of acquiring, financing and owning real estate property to be leased to third-party tenants in the healthcare sector. Sabra primarily generates revenues by leasing properties to tenants and operators throughout the U.S. and Canada. Sabra owns substantially all of its assets and properties and conducts its operations through Sabra Health Care Limited Partnership, a Delaware limited partnership (the “Operating Partnership”), of which Sabra is the sole general partner and a wholly owned subsidiary of Sabra is currently the only limited partner, or by subsidiaries of the Operating Partnership. The Company’s investment portfolio is primarily comprised of skilled nursing/transitional care facilities, senior housing communities and specialty hospitals and other facilities, in each case leased to third-party operators; senior housing communities operated by third-party property managers pursuant to property management agreements (“Senior Housing - Managed”); investments in loans receivable; preferred equity investments; and an investment in an unconsolidated joint venture. On August 17, 2017, pursuant to an Agreement and Plan of Merger (the “Merger Agreement”) entered into by the Company, the Operating Partnership, PR Sub, LLC, a Delaware limited liability company and wholly owned subsidiary of the Company (“Merger Sub”), Care Capital Properties, Inc., a Delaware corporation (“CCP”), and Care Capital Properties, L.P. (“CCPLP”), a Delaware limited partnership and wholly owned subsidiary of CCP, CCP merged with and into Merger Sub, with Merger Sub continuing as the surviving corporation (the “CCP Merger”), following which Merger Sub merged with and into the Company, with the Company continuing as the surviving entity (the “Subsequent Merger”), and, simultaneous with the Subsequent Merger, CCPLP merged with and into the Operating Partnership, with the Operating Partnership continuing as the surviving entity. Pursuant to the Merger Agreement, as of the effective time of the CCP Merger, each share of CCP common stock, par value $0.01 per share, issued and outstanding immediately prior to the effective time of the CCP Merger (other than shares of CCP common stock owned directly by CCP, the Company or their respective subsidiaries, in each case not held on behalf of third parties) was converted into the right to receive 1.123 newly issued shares of Company common stock, par value $0.01 per share, plus cash in lieu of any fractional shares. The acquisition of CCP has been reflected in the Company’s consolidated financial statements since the effective date of the CCP Merger. |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements include the accounts of Sabra and its wholly owned subsidiaries as of December 31, 2019 and 2018 and for the years ended December 31, 2019 , 2018 and 2017 . All significant intercompany transactions and balances have been eliminated in consolidation. The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). GAAP requires the Company to identify entities for which control is achieved through voting rights or other means and to determine which business enterprise is the primary beneficiary of variable interest entities (“VIEs”). A VIE is broadly defined as an entity with one or more of the following characteristics: (a) the total equity investment at risk is insufficient to finance the entity’s activities without additional subordinated financial support; (b) as a group, the holders of the equity investment at risk lack (i) the ability to make decisions about the entity’s activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; or (c) the equity investors have voting rights that are not proportional to their economic interests, and substantially all of the entity’s activities either involve, or are conducted on behalf of, an investor that has disproportionately few voting rights. If the Company were determined to be the primary beneficiary of the VIE, the Company would consolidate investments in the VIE. The Company may change its original assessment of a VIE due to events such as modifications of contractual arrangements that affect the characteristics or adequacy of the entity’s equity investments at risk and the disposal of all or a portion of an interest held by the primary beneficiary. The Company identifies the primary beneficiary of a VIE as the enterprise that has both: (i) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance; and (ii) the obligation to absorb losses or the right to receive benefits of the VIE that could be significant to the entity. The Company performs this analysis on an ongoing basis. As of December 31, 2019 , the Company determined that it was no t the primary beneficiary of any VIEs. As it relates to investments in loans, in addition to the Company’s assessment of VIEs and whether the Company is the primary beneficiary of those VIEs, the Company evaluates the loan terms and other pertinent facts to determine whether the loan investment should be accounted for as a loan or as a real estate joint venture. If an investment has the characteristics of a real estate joint venture, including if the Company participates in the majority of the borrower’s expected residual profit, the Company would account for the investment as an investment in a real estate joint venture and not as a loan investment. Expected residual profit is defined as the amount of profit, whether called interest or another name, such as an equity kicker, above a reasonable amount of interest and fees expected to be earned by a lender. At December 31, 2019 and 2018 , none of the Company’s investments in loans were accounted for as real estate joint ventures. As it relates to investments in joint ventures, the Company assesses any limited partners’ rights and their impact on the presumption of control of the limited partnership by any single partner. The Company also applies this guidance to managing member interests in limited liability companies. The Company reassesses its determination of which entity controls the joint venture if: there is a change to the terms or in the exercisability of the rights of any partners or members, the sole general partner or managing member increases or decreases its ownership interests, or there is an increase or decrease in the number of outstanding ownership interests. As of December 31, 2019 , the Company’s determination of which entity controls its investments in joint ventures has not changed as a result of any reassessment. Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. Reclassifications Certain amounts in the Company’s consolidated statements of income and consolidated statements of cash flows for prior periods have been reclassified to conform to the current period presentation. These reclassifications have not changed the results of operations. Real Estate Investments and Rental Revenue Recognition Real Estate Acquisition Valuation All assets acquired and liabilities assumed in an acquisition of real estate accounted for as a business combination are measured at their acquisition date fair values. For acquisitions of real estate accounted for as an asset acquisition, the fair value of consideration transferred by the Company (including transaction costs) is allocated to all assets acquired and liabilities assumed on a relative fair value basis. The acquisition value of land, building and improvements are included in real estate investments on the accompanying consolidated balance sheets. The acquisition value of above market lease, tenant origination and absorption costs and tenant relationship intangible assets is included in lease intangible assets, net on the accompanying consolidated balance sheets. The acquisition value of below market lease intangible liabilities is included in lease intangible liabilities, net on the accompanying consolidated balance sheets. Acquisition costs associated with real estate acquisitions deemed asset acquisitions are capitalized, and costs associated with real estate acquisitions deemed business combinations are expensed as incurred. The Company capitalized $0.6 million and $0.7 million of acquisition costs during the years ended December 31, 2019 and 2018 , respectively. Restructuring costs that do not meet the definition of a liability at the acquisition date are expensed in periods subsequent to the acquisition date. During the years ended December 31, 2019 , 2018 and 2017 , the Company expensed $0.4 million , $0.6 million and $30.3 million , respectively, of merger and acquisition costs. Estimates of the fair values of the tangible assets, identifiable intangibles and assumed liabilities require the Company to make significant assumptions to estimate market lease rates, property operating expenses, carrying costs during lease-up periods, discount rates, market absorption periods, and the number of years the property will be held for investment. The Company makes its best estimate based on the Company’s evaluation of the specific characteristics of each tenant’s lease. The use of inappropriate assumptions would result in an incorrect valuation of the Company’s acquired tangible assets, identifiable intangibles and assumed liabilities, which would impact the amount of the Company’s net income. Depreciation and Amortization Real estate costs related to the acquisition and improvement of properties are capitalized and amortized on a straight-line basis over the lesser of the expected useful life of the asset and the remaining lease term of any property subject to a ground lease. Tenant improvements are capitalized and amortized on a straight-line basis over the lesser of the expected useful life of the asset and the remaining lease term. Depreciation is discontinued when a property is identified as held for sale. Repair and maintenance costs are charged to expense as incurred and significant replacements and betterments are capitalized. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset. The Company considers the period of future benefit of an asset to determine its appropriate useful life. Depreciation of real estate assets and amortization of tenant origination and absorption costs and tenant relationship lease intangibles are included in depreciation and amortization on the accompanying consolidated statements of income. Amortization of above and below market lease intangibles is included in rental income on the accompanying consolidated statements of income. The Company anticipates the estimated useful lives of its assets by class to be generally as follows: land improvements, five to 20 years; buildings and building improvements, five to 40 years; and furniture and equipment, three to 20 years. Intangibles are generally amortized over the remaining noncancellable lease terms, with tenant relationship intangible amortization periods including extension periods of up to 10 years . Impairment of Real Estate Investments The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate investments may not be recoverable or realized. When indicators of potential impairment suggest that the carrying value of real estate investments may not be recoverable, the Company assesses the recoverability by estimating whether the Company will recover the carrying value of its real estate investments through the undiscounted future cash flows and the eventual disposition of the investment. In some instances, there may be various potential outcomes for an investment and its potential future cash flows. In these instances, the undiscounted future cash flows used to assess recoverability are based on several assumptions and are probability-weighted based on the Company’s best estimates as of the date of evaluation. These assumptions include, among others, cash flow projections, discount rates, market capitalization rates and recent sales data for comparable properties. The assumptions are generally based on management’s experience in its local real estate markets, and the effects of current market conditions, which are subject to economic and market uncertainties. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of its real estate investments, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of its real estate investments. Revenue Recognition The Company recognizes rental revenue from tenants, including rental abatements, lease incentives and contractual fixed increases attributable to operating leases, on a straight-line basis over the term of the related leases when it is probable that substantially all rents over the life of a lease are collectible. Certain of the Company’s leases provide for contingent rents equal to a percentage of the facility’s revenue in excess of specified base amounts or other thresholds. Such revenue is recognized when actual results reported by the tenant, or estimates of tenant results, exceed the applicable base amount or other threshold. The Company assesses the collectability of rents on a lease-by-lease basis, and in doing so, considers such things as historical bad debts, tenant creditworthiness, current economic trends, facility operating performance, lease structure, credit enhancements (including guarantees), current developments relevant to a tenant’s business specifically and to its business category generally, and changes in tenants’ payment patterns. The Company’s assessment includes an estimation of a tenant’s ability to fulfill all of its rental obligations over the remaining lease term. In addition, with respect to tenants in bankruptcy, management makes estimates of the expected recovery of pre-petition and post-petition claims in assessing the estimated collectability of the related receivable. If at any time the Company cannot determine that it is probable that substantially all rents over the life of a lease are collectible, rental revenue will be recognized only to the extent of payments received, and all receivables associated with the lease will be written off irrespective of amounts expected to be collectible. Any recoveries of these amounts will be recorded in future periods upon receipt of payment. Write-offs of receivables and any recoveries of previously written-off receivables are recorded as adjustments to rental revenue. Revenue from resident fees and services is recorded monthly as services are provided and includes resident room and care charges, ancillary services charges and other resident charges. Assets Held for Sale, Dispositions and Discontinued Operations The Company generally considers real estate to be “held for sale” when the following criteria are met: (i) management commits to a plan to sell the property, (ii) the property is available for sale immediately, (iii) the property is actively being marketed for sale at a price that is reasonable in relation to its current fair value, (iv) the sale of the property within one year is considered probable and (v) significant changes to the plan to sell are not expected. Real estate that is held for sale and its related assets are classified as assets held for sale and are included in accounts receivable, prepaid expenses and other assets, net on the accompanying consolidated balance sheets. Secured indebtedness and other liabilities related to real estate held for sale are classified as liabilities related to assets held for sale and are included in accounts payable and accrued liabilities on the accompanying consolidated balance sheets. Real estate classified as held for sale is no longer depreciated and is reported at the lower of its carrying value or its estimated fair value less estimated costs to sell. As of December 31, 2019 and 2018 , the Company did no t have any assets held for sale. For sales of real estate where the Company has collected the consideration to which it is entitled in exchange for transferring the real estate, the related assets and liabilities are removed from the balance sheet and the resultant gain or loss is recorded in the period in which the transaction closes. Any post-sale involvement is accounted for as separate performance obligations, and when the separate performance obligations are satisfied, the portion of the sales price allocated to each such obligation is recognized. Additionally, the Company records the operating results related to real estate that has been disposed of or classified as held for sale as discontinued operations for all periods presented if it represents a strategic shift that has or will have a major effect on the Company’s operations and financial results. Investment in Unconsolidated Joint Venture The Company reports investments in unconsolidated entities over whose operating and financial policies it has the ability to exercise significant influence under the equity method of accounting. Under this method of accounting, the Company’s share of the investee’s earnings or losses is included in the Company’s consolidated statements of income. The initial carrying value of the investment is based on the amount paid to purchase the joint venture interest. Differences between the Company’s cost basis and the basis reflected at the joint venture level are generally amortized over the lives of the related assets and liabilities, and such amortization is included in the Company’s share of earnings of the joint venture. The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its equity method investments may not be recoverable or realized. When indicators of potential impairment are identified, the Company evaluates its equity method investments for impairment based on a comparison of the fair value of the investment to its carrying value. The fair value is estimated based on discounted cash flows that include all estimated cash inflows and outflows over a specified holding period and any estimated debt premiums or discounts. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of its equity method investment, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of its equity method investment. On January 2, 2018 , the Company completed its transaction with affiliates of Enlivant and TPG Real Estate, the real estate platform of TPG, and contributed $352.7 million , before closing costs, to acquire a 49% equity interest in an entity that owned 172 senior housing communities managed by Enlivant (the “Enlivant Joint Venture”). At closing, the Enlivant Joint Venture had outstanding indebtedness of $791.3 million and net working capital of $22.9 million . The joint venture agreement includes an option for the Company to acquire the remainder of the outstanding equity interests in the Enlivant Joint Venture by January 2, 2021 and grants the Company the right of first offer if the Company’s partner in the Enlivant Joint Venture desires to transfer its equity interest (which it may do commencing on January 2, 2020). Sabra also has the right to designate three directors on the seven member board of directors of the Enlivant Joint Venture and has other customary minority rights. During 2019, the Enlivant Joint Venture sold two senior housing communities for gross proceeds of $6.3 million , and the Company recorded an aggregate net loss on sale of real estate related to unconsolidated joint venture of $1.7 million . As of December 31, 2019 , the book value of the Company’s investment in the Enlivant Joint Venture was $319.5 million . Net Investment in Direct Financing Lease As of December 31, 2019 , the Company had a $23.9 million net investment in one skilled nursing/transitional care facility leased to an operator under a direct financing lease, as the tenant is obligated to purchase the property at the end of the lease term. The net investment in direct financing lease is recorded in accounts receivable, prepaid expenses and other assets, net on the accompanying consolidated balance sheets and represents the present value of total rental payments of $4.0 million , plus the estimated unguaranteed residual value of $24.7 million , less the unearned lease income of $4.8 million as of December 31, 2019 . Unearned lease income represents the excess of the minimum lease payments and residual value over the cost of the investment. Unearned lease income is deferred and amortized to income over the lease term to provide a constant yield when collectability of the lease payments is reasonably assured. Income from the Company’s net investment in direct financing lease was $2.7 million , $2.6 million and $1.0 million for the years ended December 31, 2019 , 2018 and 2017 , respectively, and is reflected in interest and other income on the accompanying consolidated statements of income. Future minimum lease payments contractually due under the direct financing lease at December 31, 2019 , were as follows: $2.3 million for 2020 and $2.1 million for 2021. Loans Receivable and Interest Income Loans Receivable The Company’s loans receivable are reflected at amortized cost on the accompanying consolidated balance sheets. The amortized cost of a loan receivable is the outstanding unpaid principal balance, net of unamortized discounts, costs and fees directly associated with the origination of the loan. Loans acquired in connection with a business combination are recorded at their acquisition date fair value. The Company determines the fair value of loans receivable based on estimates of expected discounted cash flows, collateral, credit risk and other factors. The Company does not establish a valuation allowance at the acquisition date, as the amount of estimated future cash flows reflects its judgment regarding their uncertainty. The Company recognizes the difference between the acquisition date fair value and the total expected cash flows as interest income using the effective interest method over the life of the applicable loan. The Company immediately recognizes in income any unamortized balances if the loan is repaid before its contractual maturity. On a quarterly basis, the Company evaluates the collectability of its loan portfolio, including related interest income receivable, and establishes a reserve for loan losses. The Company’s evaluation includes reviewing credit quality indicators such as payment status, changes affecting the underlying real estate collateral (for collateral dependent loans), changes affecting the operations of the facilities securing the loans, and national and regional economic factors. The reserve for loan losses is a valuation allowance that reflects management’s estimate of loan losses inherent in the loan portfolio as of the balance sheet date. The reserve is adjusted through provision for doubtful accounts, straight-line rental income and loan losses on the Company’s consolidated statements of income and is decreased by charge-offs to specific loans when losses are confirmed. The reserve for loan losses includes an asset-specific component and a portfolio-based component. An asset-specific reserve relates to reserves for losses on loans considered impaired and interest income receivable that is deemed uncollectible. The Company considers a loan to be impaired when, based upon current information and events, management believes that it is probable that the Company will be unable to collect all amounts due under the contractual terms of the loan agreement resulting from the borrower’s failure to repay contractual amounts due, the granting of a concession by the Company or the expectation that the Company will receive assets with fair values less than the carrying value of the loan in satisfaction of the loan. If a loan is considered to be impaired, a reserve is established when the carrying value of that loan is greater than the present value of payments expected to be received, the observable market prices for similar instruments, the estimated fair value of the collateral (for loans that are dependent on the collateral for repayment) or other amounts expected to be received in satisfaction of the loan. A portfolio-based reserve covers the pool of loans that do not have asset-specific reserves. A provision for loan losses is recorded when available information as of each balance sheet date indicates that it is probable that a loss occurred in the pool of loans and the amount of the loss can be reasonably estimated, but the Company does not know which specific loans within the pool will ultimately result in losses. The required reserve balances for this pool of loans is derived based on estimated probabilities of default and estimated loss severities assuming a default occurs. Interest Income Interest income on the Company’s loans receivable is recognized on an accrual basis over the life of the investment using the interest method. Direct loan origination costs are amortized over the term of the loan as an adjustment to interest income. When concerns exist as to the ultimate collection of principal or interest due under a loan, the loan is placed on nonaccrual status, and the Company will not recognize interest income until the cash is received, or the loan returns to accrual status. If the Company determines that the collection of interest according to the contractual terms of the loan or through the receipts of assets in satisfaction of contractual amounts due is probable, the Company will resume the accrual of interest. In instances where borrowers are in default under the terms of their loans, the Company may continue recognizing interest income provided that all amounts owed under the contractual terms of the loan, including accrued and unpaid interest, do not exceed the estimated fair value of the collateral, less costs to sell. Preferred Equity Investments and Preferred Return Preferred equity investments are accounted for at unreturned capital contributions, plus accrued and unpaid preferred returns. The Company recognizes preferred return income on a monthly basis based on the outstanding investment including any previously accrued and unpaid return. As a preferred member of the preferred equity joint ventures in which the Company participates, the Company is not entitled to share in the joint venture’s earnings or losses. Rather, the Company is entitled to receive a preferred return, which is deferred if the cash flow of the joint venture is insufficient to currently pay the accrued preferred return. Cash and Cash Equivalents The Company considers all short-term (with an original maturity of three months or less), highly-liquid investments utilized as part of the Company’s cash-management activities to be cash equivalents. Cash equivalents may include cash and short-term investments. Short-term investments are stated at cost, which approximates fair value. The Company’s cash and cash equivalents balance exceeded federally insurable limits as of December 31, 2019 . To date, the Company has experienced no loss or lack of access to cash in its operating accounts. The Company has a corporate banking relationship with Bank of America, N.A. in which it deposits the majority of its cash. Restricted Cash Restricted cash primarily consists of amounts held by an exchange accommodation titleholder or by secured debt lenders to provide for future real estate tax expenditures, tenant improvements and capital expenditures. Pursuant to the terms of the Company’s leases with certain tenants, the Company has assigned its interests in certain of these restricted cash accounts with secured debt lenders to the tenants, and this amount is included in accounts payable and accrued liabilities on the Company’s consolidated balance sheets. As of December 31, 2019 and 2018 , restricted cash totaled $10.0 million and $9.4 million , respectively, and restricted cash obligations totaled $5.6 million and $5.5 million , respectively. Stock-Based Compensation Stock-based compensation expense for stock-based awards granted to Sabra’s employees and its non-employee directors is recognized in the statements of income based on the estimated grant date fair value, as adjusted. Compensation expense for awards with graded vesting schedules is generally recognized ratably over the period from the grant date to the date when the award is no longer contingent on the employee providing additional services. Compensation expense for awards with performance-based vesting conditions is recognized based on the Company’s estimate of the ultimate value of such award after considering the Company’s expectations of future performance. Forfeitures of stock-based awards are recognized as they occur. Deferred Financing Costs Deferred financing costs representing fees paid to third parties are amortized over the terms of the respective financing agreements using the interest method. Deferred financing costs related to secured debt, term loans and senior unsecured notes are recorded as a reduction of the related debt liability, and deferred financing costs related to the revolving credit facility are recorded in accounts receivable, prepaid expenses and other assets, net. Unamortized deferred financing costs are generally expensed when the associated debt is refinanced or repaid before maturity. Costs incurred in seeking financings that do not close are expensed in the period in which it is determined that the financing will not close. Income Taxes The Company elected to be treated as a REIT with the filing of its U.S. federal income tax return for the taxable year beginning January 1, 2011. The Company believes that it has been organized and operated, and it intends to continue to operate, in a manner to qualify as a REIT. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of the Company’s annual REIT taxable income to stockholders (which is computed without regard to the dividends-paid deduction or net capital gains and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax on income that it distributes as dividends to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to U.S. federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost, unless the Internal Revenue Service grants the Company relief under certain statutory provisions. Such an event could materially and adversely affect the Company’s net income and net cash available for distribution to stockholders. However, the Company believes that it is organized and operates in such a manner as to qualify for treatment as a REIT. As a result of certain investments, the Company now records income tax expense or benefit with respect to certain of its entities that are taxed as taxable REIT subsidiaries under provisions similar to those applicable to regular corporations and not under the REIT provisions. The Company accounts for deferred income taxes using the asset and liability method and recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the Company’s financial statements or tax returns. Under this method, the Company determines deferred tax assets and liabilities based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Any increase or decrease in the deferred tax liability that results from a change in circumstances, and that causes a change in the Company’s judgment about expected future tax consequences of events, is included in the tax provision when such changes occur. Deferred income taxes also reflect the impact of operating loss and tax credit carryforwards. A valuation allowance is provided if the Company believes it is more likely than not that all or some portion of the deferred tax asset will not be realized. Any increase or decrease in the valuation allowance that results from a change in circumstances, and that causes a change in the Company’s judgment about the realizability of the related deferred tax asset, is included in the tax provision when such changes occur. The Company evaluates its tax positions using a two step approach: step one (recognition) occurs when the Company concludes that a tax position, based solely on its technical merits, is more likely than not to be sustained upon examination, and step two (measurement) is only addressed if step one has been satisfied (i.e., the position is more likely than not to be sustained). Under step two, the tax benefit is measured as the largest amount of benefit (determined on a cumulative probability basis) that is more likely than not to be realized upon ultimate settlement. The Company will recognize tax penalties relating to unrecognized tax benefits as additional tax expense. Foreign Currency Certain of the Company’s subsidiaries’ functional currencies are the local currencies of their respective foreign jurisdictions. The Company translates the results of operations of its foreign subsidiaries into U.S. dollars using average rates of exchange in effect during the period presented, and it translates balance sheet accounts using exchange rates in effect at the end of the period presented. The Company records resulting currency translation adjustments in accumulated other comprehensive income (loss), a component of stockholders’ equity, on its consolidated balance sheets, and it records foreign currency transaction gains and losses as a component of interest and other income on its consolidated statements of income. Derivative Instruments The Company uses certain types of derivative instruments for the purpose of managing interest rate and currency risk. To qualify for hedge accounting, derivative instruments used for risk management purposes must effectively reduce the risk exposure that they are designed to hedge. In addition, at inception, the Company must make an assessment that the transaction that the Company intends to hedge is probable of occurring, and this assessment must be updated each reporting period. The Company recognizes all derivative instruments as assets or liabilities on the consolid |
RECENT REAL ESTATE ACQUISITIONS
RECENT REAL ESTATE ACQUISITIONS | 12 Months Ended |
Dec. 31, 2019 | |
Business Combinations [Abstract] | |
RECENT REAL ESTATE ACQUISITIONS | RECENT REAL ESTATE ACQUISITIONS During the year ended December 31, 2019 , the Company acquired two senior housing communities, two specialty hospitals/other facilities and one Senior Housing - Managed community. During the year ended December 31, 2018 , the Company acquired 11 Senior Housing - Managed communities, eight senior housing communities and two skilled nursing/transitional care facilities. The consideration was allocated as follows (in thousands): Year Ended December 31, 2019 2018 Land $ 10,049 $ 29,712 Building and improvements 39,434 232,893 Tenant origination and absorption costs intangible assets 1,438 2,046 Tenant relationship intangible assets 215 677 Total consideration $ 51,136 $ 265,328 The tenant origination and absorption costs intangible assets and tenant relationship intangible assets acquired in connection with these acquisitions had weighted-average amortization periods as of the respective dates of acquisition of 6 years and 21 years, respectively, for acquisitions completed during the year ended December 31, 2019 , and 13 years and 22 years, respectively, for acquisitions completed during the year ended December 31, 2018 . For the year ended December 31, 2019 , the Company recognized $0.8 million and $0.4 million of total revenues and net income attributable to common stockholders, respectively, from the properties acquired during the year ended December 31, 2019 . For the year ended December 31, 2018 , the Company recognized $44.0 million and $14.0 million of total revenues and net income attributable to common stockholders, respectively, from the properties acquired during the year ended December 31, 2018 . |
REAL ESTATE PROPERTIES HELD FOR
REAL ESTATE PROPERTIES HELD FOR INVESTMENT | 12 Months Ended |
Dec. 31, 2019 | |
Real Estate Investments, Net [Abstract] | |
REAL ESTATE PROPERTIES HELD FOR INVESTMENT | REAL ESTATE PROPERTIES HELD FOR INVESTMENT The Company’s real estate properties held for investment consisted of the following (dollars in thousands): As of December 31, 2019 Property Type Number of Properties Number of Beds/Units Total Real Estate at Cost Accumulated Depreciation Total Real Estate Investments, Net Skilled Nursing/Transitional Care 296 33,290 $ 3,701,666 $ (306,565 ) $ 3,395,101 Senior Housing - Leased (1) 62 3,820 630,688 (72,278 ) 558,410 Senior Housing - Managed (1) 46 4,809 907,771 (112,893 ) 794,878 Specialty Hospitals and Other 25 1,193 639,721 (47,124 ) 592,597 429 43,112 5,879,846 (538,860 ) 5,340,986 Corporate Level 737 (353 ) 384 $ 5,880,583 $ (539,213 ) $ 5,341,370 As of December 31, 2018 Property Type Number of Properties Number of Beds/Units Total Real Estate at Cost Accumulated Depreciation Total Real Estate Investments, Net Skilled Nursing/Transitional Care 335 37,628 $ 4,094,484 $ (224,942 ) $ 3,869,542 Senior Housing - Leased (1) 90 7,332 1,237,790 (125,902 ) 1,111,888 Senior Housing - Managed (1) 23 1,603 301,739 (19,537 ) 282,202 Specialty Hospitals and Other 22 1,085 621,236 (31,640 ) 589,596 470 47,648 6,255,249 (402,021 ) 5,853,228 Corporate Level 634 (317 ) 317 $ 6,255,883 $ (402,338 ) $ 5,853,545 (1) During the year ended December 31, 2019, the Company transitioned 21 senior housing communities to its Senior Housing - Managed portfolio. December 31, 2019 December 31, 2018 Building and improvements $ 5,042,435 $ 5,388,102 Furniture and equipment 239,229 237,145 Land improvements 1,534 1,254 Land 597,385 629,382 5,880,583 6,255,883 Accumulated depreciation (539,213 ) (402,338 ) $ 5,341,370 $ 5,853,545 Operating Leases As of December 31, 2019 , the substantial majority of the Company’s real estate properties (excluding 46 Senior Housing - Managed communities) were leased under triple-net operating leases with expirations ranging from less than one year to 15 years. As of December 31, 2019 , the leases had a weighted-average remaining term of eight years . The leases generally include provisions to extend the lease terms and other negotiated terms and conditions. The Company, through its subsidiaries, retains substantially all of the risks and benefits of ownership of the real estate assets leased to the tenants. The Company may receive additional security under these operating leases in the form of letters of credit and security deposits from the lessee or guarantees from the parent of the lessee or other parties related to the lessee. Security deposits received in cash related to tenant leases are included in accounts payable and accrued liabilities on the accompanying consolidated balance sheets and totaled $10.5 million and $12.4 million as of December 31, 2019 and 2018 , respectively, and letters of credit deposited with the Company totaled approximately $83 million and $98 million as of December 31, 2019 and 2018 , respectively. In addition, the Company’s tenants have deposited with the Company $14.3 million and $17.5 million as of December 31, 2019 and 2018 , respectively, for future real estate taxes, insurance expenditures and tenant improvements related to the Company’s properties and their operations. As of December 31, 2018 , the Company had a $1.3 million reserve for unpaid cash rental income and a $35.8 million reserve associated with accumulated straight-line rental income. Upon adoption of Topic 842 on January 1, 2019, if at any time the Company cannot determine that it is probable that substantially all rents over the life of a lease are collectible, rental revenue will be recognized only to the extent of payments received, and all receivables associated with the lease will be written off irrespective of amounts expected to be collectible. As such, the Company no longer records reserves for unpaid cash rental income or accumulated straight-line rental income. On February 15, 2019, the Company entered into a settlement agreement with Senior Care Centers in connection with the notices of default and lease termination issued by the Company to Senior Care Centers during the third quarter of 2018. In accordance with the order entered by the bankruptcy court in March 2019, the settlement agreement provided for the discharge by the Company of its claims against Senior Care Centers in exchange for $9.5 million of settlement payments, a portion of which was applied to pay post-petition rent. The Company recorded $6.2 million of such post-petition rent during the year ended December 31, 2019. On April 1, 2019, the Company completed the sale of 28 facilities ( 26 skilled nursing/transitional care facilities and two senior housing communities) previously operated by Senior Care Centers and received gross sales proceeds of $282.5 million . In connection with the sale, the Company entered into an agreement to indemnify the buyer from certain costs, expenses and liabilities related to the historical operations of the facilities by Senior Care Centers. In May 2019, the Company transitioned eight facilities previously operated by Senior Care Centers to a current operator in the Sabra portfolio, and the Company subsequently sold the remaining two facilities previously operated by Senior Care Centers ( one during the fourth quarter of 2019 and one in January 2020). During the year ended December 31, 2019, the Company recorded an impairment charge of $95.2 million related to the Senior Care Centers facilities, which includes $10.2 million related to the Company’s estimated contractual indemnification obligations. As of December 31, 2019, the Company adjusted its contractual indemnification obligations estimate down to $8.8 million . On December 19, 2018, the Company entered into a letter of intent to terminate its triple-net master lease with Holiday Retirement (“Holiday”) with respect to all 21 senior housing communities subject to the master lease (the “Holiday Communities”) and concurrently enter into management agreements pursuant to which Holiday would manage the Holiday Communities. On April 1, 2019, the Company completed the conversion of the Holiday Communities to its Senior Housing - Managed portfolio and recognized lease termination income of $66.9 million , which includes a $57.2 million lease termination payment received in exchange for terminating the Holiday master lease and a $9.7 million gain related to the assumption of fixed assets and liabilities. The Company monitors the creditworthiness of its tenants by reviewing credit ratings (if available) and evaluating the ability of the tenants to meet their lease obligations to the Company based on the tenants’ financial performance, including the evaluation of any parent guarantees (or the guarantees of other related parties) of tenant lease obligations. As formal credit ratings may not be available for most of the Company’s tenants, the primary basis for the Company’s evaluation of the credit quality of its tenants (and more specifically the tenant’s ability to pay their rent obligations to the Company) is the tenant’s lease coverage ratio or the parent’s fixed charge coverage ratio for those entities with a parent guarantee. These coverage ratios include earnings before interest, taxes, depreciation, amortization and rent (“EBITDAR”) to rent and earnings before interest, taxes, depreciation, amortization, rent and management fees (“EBITDARM”) to rent at the lease level and consolidated EBITDAR to total fixed charges at the parent guarantor level when such a guarantee exists. The Company obtains various financial and operational information from its tenants each month and reviews this information in conjunction with the above-described coverage metrics to identify financial and operational trends, evaluate the impact of the industry’s operational and financial environment (including the impact of government reimbursement), and evaluate the management of the tenant’s operations. These metrics help the Company identify potential areas of concern relative to its tenants’ credit quality and ultimately the tenant’s ability to generate sufficient liquidity to meet its obligations, including its obligation to continue to pay the rent due to the Company. For the year ended December 31, 2019 , no tenant relationship represented 10% or more of the Company’s total revenues. The future minimum rental payments from the Company’s properties held for investment under non-cancelable operating leases were as follows and may materially differ from actual future rental payments received (in thousands): As of December 31, 2019 2020 $ 428,101 2021 427,791 2022 404,568 2023 389,810 2024 380,944 Thereafter 1,672,008 $ 3,703,222 As of December 31, 2018 2019 $ 465,766 2020 456,207 2021 452,346 2022 454,216 2023 437,277 Thereafter 2,407,064 $ 4,672,876 Senior Housing - Managed Communities The Company’s Senior Housing - Managed communities offer residents certain ancillary services that are not contemplated in the lease with each resident (i.e., housekeeping, laundry, guest meals, etc.). These services are provided and paid for in addition to the standard services included in each resident lease (i.e., room and board, standard meals, etc.). The Company bills residents for ancillary services one month in arrears and recognizes revenue as the services are provided, as the Company has no continuing performance obligation related to those services. Resident fees and services includes ancillary service revenue of $0.8 million , $0.5 million and $0.3 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. |
IMPAIRMENT OF REAL ESTATE AND D
IMPAIRMENT OF REAL ESTATE AND DISPOSITIONS | 12 Months Ended |
Dec. 31, 2019 | |
Discontinued Operations and Disposal Groups [Abstract] | |
IMPAIRMENT OF REAL ESTATE AND DISPOSITIONS | IMPAIRMENT OF REAL ESTATE AND DISPOSITIONS 2019 Impairment of Real Estate During the year ended December 31, 2019 , the Company recognized a $121.8 million real estate impairment, of which amount $95.2 million related to the 28 Senior Care Centers facilities sold on April 1, 2019 and three additional Senior Care Centers facilities, two of which were subsequently sold, and the remaining $26.6 million related to six skilled nursing/transitional care facilities, five of which were subsequently sold, and four senior housing communities. Dispositions During the year ended December 31, 2019 , the Company completed the sale of 39 skilled nursing/transitional care facilities and seven senior housing communities for aggregate consideration, net of closing costs, of $323.6 million . The net carrying value of the assets and liabilities of these facilities was $321.3 million , which resulted in an aggregate $2.3 million net gain on sale. Excluding the net gain on sale and real estate impairment, the Company recognized $2.2 million , $19.1 million and $13.0 million of net income during the years ended December 31, 2019 , 2018 and 2017 , respectively, from these facilities. The sale of these facilities does not represent a strategic shift that has or will have a major effect on the Company’s operations and financial results, and therefore the results of operations attributable to these facilities have remained in continuing operations. 2018 Impairment of Real Estate During the year ended December 31, 2018 , the Company recognized a $1.4 million real estate impairment, of which $0.9 million related to one skilled nursing/transitional care facility and $0.5 million related to one senior housing community sold during the year. Dispositions During the year ended December 31, 2018 , the Company completed the sale of 51 skilled nursing/transitional care facilities, six senior housing communities and one Senior Housing - Managed community for aggregate consideration, net of closing costs, of $382.6 million . The net carrying value of the assets and liabilities of these facilities was $254.4 million , resulting in an aggregate $128.2 million net gain on sale. Excluding the net gain on sale and real estate impairment to one senior housing community sold during the year, the Company recognized $23.6 million and $47.1 million of net income during the years ended December 31, 2018 and 2017 , respectively, from these facilities. The sale of these facilities does not represent a strategic shift that has or will have a major effect on the Company’s operations and financial results, and therefore the results of operations attributable to these facilities have remained in continuing operations. 2017 Impairment of Real Estate During the year ended December 31, 2017 , the Company recognized a $1.3 million real estate impairment related to one skilled nursing/transitional care facility. Dispositions During the year ended December 31, 2017 , the Company completed the sale of 31 skilled nursing/transitional care facilities and one senior housing community for aggregate consideration, net of closing costs, of $150.2 million . The net carrying value of the assets and liabilities of these facilities was $98.2 million , resulting in an aggregate $52.0 million net gain on sale. Excluding the net gain on sale, the Company recognized $12.6 million of net income during the year ended December 31, 2017 from these facilities. The sale of these facilities does not represent a strategic shift that has or will have a major effect on the Company’s operations and financial results, and therefore the results of operations attributable to these facilities have remained in continuing operations. |
INTANGIBLE ASSETS AND LIABILITI
INTANGIBLE ASSETS AND LIABILITIES | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
INTANGIBLE ASSETS AND LIABILITIES | INTANGIBLE ASSETS AND LIABILITIES The following table summarizes the Company’s intangible assets and liabilities as of December 31, 2019 and 2018 (in thousands): December 31, 2019 2018 Lease Intangible Assets: Above market leases $ 51,040 $ 61,572 Tenant origination and absorption costs 65,234 73,323 Tenant relationship 23,150 26,936 Gross lease intangible assets 139,424 161,831 Accumulated amortization (37,915 ) (30,734 ) Lease intangible assets, net $ 101,509 $ 131,097 Lease Intangible Liabilities: Below market leases $ 99,133 $ 102,098 Accumulated amortization (29,187 ) (18,372 ) Lease intangible liabilities, net $ 69,946 $ 83,726 The following is a summary of real estate intangible amortization income (expense) for the years ended December 31, 2019 , 2018 and 2017 (in thousands): Year Ended December 31, 2019 2018 2017 Increase (decrease) to rental income related to above/below market leases, net $ 508 $ (7,701 ) $ 912 Depreciation and amortization related to tenant origination and absorption costs and tenant relationship (17,674 ) (16,118 ) (11,822 ) The remaining unamortized balance for these outstanding intangible assets and liabilities as of December 31, 2019 will be amortized for the years ending December 31 as follows (dollars in thousands): Lease Intangible Lease Intangible 2020 $ 14,140 $ 12,221 2021 11,782 8,012 2022 11,441 7,269 2023 9,702 7,269 2024 9,061 7,168 Thereafter 45,383 28,007 $ 101,509 $ 69,946 Weighted-average remaining amortization period 10.5 years 8.9 years |
LOANS RECEIVABLE AND OTHER INVE
LOANS RECEIVABLE AND OTHER INVESTMENTS | 12 Months Ended |
Dec. 31, 2019 | |
REAL ESTATE LOANS RECEIVABLE [Abstract] | |
LOANS RECEIVABLE AND OTHER INVESTMENTS | LOANS RECEIVABLE AND OTHER INVESTMENTS As of December 31, 2019 and 2018 , the Company’s loans receivable and other investments consisted of the following (dollars in thousands): December 31, 2019 Investment Quantity Property Type Principal Balance as of December 31, 2019 (1) Book Value Book Value Weighted Average Contractual Interest Rate / Rate of Return Weighted Average Annualized Effective Interest Rate / Rate of Return Maturity Date Loans Receivable: Mortgage 1 Specialty Hospital $ 19,000 $ 19,000 $ 18,577 10.0 % 10.0 % 01/31/27 Construction 1 Senior Housing 2,468 2,487 4,629 8.0 % 7.8 % 09/30/22 Mezzanine — Skilled Nursing — — 2,188 N/A N/A N/A Other 16 Multiple 46,059 42,147 45,324 6.8 % 7.0 % 09/23/19- 08/31/28 18 67,527 63,634 70,718 7.8 % 7.9 % Loan loss reserve — (564 ) (1,258 ) $ 67,527 $ 63,070 $ 69,460 Other Investments: Preferred Equity 9 Skilled Nursing / Senior Housing 43,893 44,304 44,262 12.0 % 12.0 % N/A Total 27 $ 111,420 $ 107,374 $ 113,722 9.4 % 9.6 % (1) Principal balance includes amounts funded and accrued but unpaid interest / preferred return and excludes capitalizable fees. As of December 31, 2019 and 2018 , the Company had four and seven loans receivable investments, respectively, with an aggregate principal balance of $2.3 million and $27.7 million , respectively, that were considered to have deteriorated credit quality. As of December 31, 2019 and 2018 , the book value of the outstanding loans with deteriorated credit quality was $0.8 million and $4.2 million , respectively. During the year ended December 31, 2019 , three loans with deteriorated credit quality were repaid. The following table presents changes in the accretable yield for the years ended December 31, 2019 and 2018 (in thousands): Year Ended December 31, 2019 2018 Accretable yield, beginning of period $ 449 $ 2,483 Accretion recognized in earnings (377 ) (2,761 ) Reduction due to payoff (33 ) — Net reclassification from nonaccretable difference — 727 Accretable yield, end of period $ 39 $ 449 During the year ended December 31, 2019 , the Company recorded a $1.2 million provision for specific loan losses and increased its portfolio-based loan loss reserve by $4,000 . As of December 31, 2019 , the Company had no asset-specific loan loss reserve and a $0.6 million portfolio-based loan loss reserve. As of December 31, 2019 , the Company did no t consider any loans receivable investments to be impaired. As of December 31, 2019 , two loans receivable investments with no book value were on nonaccrual status. As of December 31, 2019 , the Company did not consider any preferred equity investments to be impaired, and no preferred equity investments were on nonaccrual status. During the year ended December 31, 2018 , the Company recorded a $0.7 million provision for asset-specific loan losses and increased its portfolio-based loan loss reserve by $0.5 million . As of December 31, 2018 , the Company had a $0.7 million asset-specific loan loss reserve, and the portfolio-based loan loss reserve was $0.6 million . As of December 31, 2018 , the Company considered one loan receivable investment to be impaired, which had a principal balance of $1.3 million and $1.4 million as of December 31, 2018 and 2017 , respectively. As of December 31, 2018 , two loans receivable investments with an aggregate book value of $1.3 million were on nonaccrual status. Additionally, as of December 31, 2018 , the Company recognized interest income related to one loan receivable investment, with a book value of $4.3 million , that was more than 90 days past due. As of December 31, 2018 , the Company did not consider any preferred equity investments to be impaired, and no preferred equity investments were on nonaccrual status. |
DEBT
DEBT | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
DEBT | DEBT Secured Indebtedness The Company’s secured debt consists of the following (dollars in thousands): Interest Rate Type Principal Balance as of (1) Principal Balance as of (1) Weighted Average Interest Rate at (2) Maturity Date Fixed Rate $ 114,777 $ 117,464 3.67 % December 2021 - (1) Principal balance does not include deferred financing costs, net of $1.7 million and $1.8 million as of December 31, 2019 and 2018 , respectively. (2) Weighted average interest rate includes private mortgage insurance. During the year ended December 31, 2018, the Company (i) prepaid a $98.5 million variable rate secured term loan and recognized a $2.0 million loss on extinguishment of debt related to prepayment penalty fees associated with the early repayment of the loan and (ii) repaid $37.6 million of fixed rate debt secured by facilities sold during the year ended December 31, 2018 and recognized a $0.9 million loss on extinguishment of debt related to write-offs of deferred financing costs in connection with this repayment. Senior Unsecured Notes The Company’s senior unsecured notes consist of the following (dollars in thousands): Principal Balance as of December 31, Title Maturity Date 2019 (1) 2018 (1) 5.5% senior unsecured notes due 2021 (“2021 Notes”) February 1, 2021 $ — $ 500,000 5.375% senior unsecured notes due 2023 (“2023 Notes”) June 1, 2023 — 200,000 4.80% senior unsecured notes due 2024 (“2024 Notes”) June 1, 2024 300,000 — 5.125% senior unsecured notes due 2026 (“2026 Notes”) August 15, 2026 500,000 500,000 5.38% senior unsecured notes due 2027 (“2027 Notes”) May 17, 2027 100,000 100,000 3.90% senior unsecured notes due 2029 (“2029 Notes”) October 15, 2029 350,000 — $ 1,250,000 $ 1,300,000 (1) Principal balance does not include premium, net of $7.6 million and deferred financing costs, net of $8.8 million as of December 31, 2019 and does not include premium, net of $14.5 million and deferred financing costs, net of $7.1 million as of December 31, 2018 . 5.5% Notes Due 2021 . On January 23, 2014, the Operating Partnership and Sabra Capital Corporation, wholly owned subsidiaries of the Company (the “Issuers”), issued $350.0 million aggregate principal amount of 5.5% senior unsecured notes due 2021 (the “Original 2021 Notes”), and on October 10, 2014, they issued $150.0 million aggregate principal amount of 5.5% senior unsecured notes due 2021, which were treated as a single class with, and had the same terms as, the Original 2021 Notes (the additional notes and the Original 2021 Notes, together, the “2021 Notes”). The 2021 Notes accrued interest at a rate of 5.5% per annum payable semiannually on February 1 and August 1 of each year. On June 29, 2019 , the Issuers redeemed all $500.0 million aggregate principal amount outstanding of the 2021 Notes at a cash redemption price of 101.375% of the principal amount being redeemed, plus accrued and unpaid interest. The redemption resulted in $10.1 million of redemption related costs and write-offs for the year ended December 31, 2019 , consisting of $6.9 million in payments made to noteholders and legal fees for early redemption and $3.2 million of write-offs associated with unamortized deferred financing and premium costs. These amounts are included in loss on extinguishment of debt on the accompanying consolidated statements of income. 5.375% Notes Due 2023. On May 23, 2013, the Issuers issued $200.0 million aggregate principal amount of 5.375% senior unsecured notes due 2023 (the “2023 Notes”). The 2023 Notes accrued interest at a rate of 5.375% per annum payable semiannually on June 1 and December 1 of each year. On October 27, 2019 , the Issuers redeemed all $200.0 million aggregate principal amount outstanding of the 2023 Notes at a cash redemption price of 101.792% of the principal amount being redeemed, plus accrued and unpaid interest. The redemption resulted in $5.6 million of redemption related costs and write-offs for the year ended December 31, 2019 , consisting of $3.6 million in payments made to noteholders and legal fees for early redemption and $2.0 million of write-offs associated with unamortized deferred financing costs. These amounts are included in loss on extinguishment of debt on the accompanying consolidated statements of income. 4.80% Notes Due 2024. On May 29, 2019 , the Issuers completed an underwritten public offering of $300.0 million aggregate principal amount of 4.80% senior unsecured notes due 2024 (the “2024 Notes”). The net proceeds were $295.3 million after deducting underwriting discounts and other offering expenses. The net proceeds, together with borrowings under the Revolving Credit Facility, were used to redeem the 2021 Notes as discussed above. The 2024 Notes accrue interest at a rate of 4.80% per annum payable semiannually on June 1 and December 1 of each year. Upon redemption of the 2023 Notes as discussed above, Sabra Capital Corporation’s obligations as a co-issuer under the 2024 Notes were automatically released and discharged. The 2024 Notes are redeemable at the option of the Operating Partnership, in whole or in part at any time and from time to time, prior to May 1, 2024, at a price equal to 100% of the principal amount, together with any accrued and unpaid interest to, but not including, the redemption date, plus a make-whole premium. The Operating Partnership may also redeem the 2024 Notes on or after May 1, 2024, at a price equal to 100% of the principal amount, together with any accrued and unpaid interest to, but not including, the redemption date. Assuming the 2024 Notes are not redeemed, the 2024 Notes mature on June 1, 2024. 5.125% Notes Due 2026 . In connection with the CCP Merger, on August 17, 2017, the Operating Partnership assumed $500.0 million aggregate principal amount of 5.125% senior unsecured notes due 2026 (the “2026 Notes”) issued by Care Capital Properties, LP in July 2016. The 2026 Notes accrue interest at a rate of 5.125% per annum payable semiannually on February 15 and August 15 of each year. The Operating Partnership may, at its option, redeem the 2026 Notes at any time in whole or from time to time in part prior to their stated maturity. The redemption price for 2026 Notes that are redeemed will be equal to (i) 100% of their principal amount, together with accrued and unpaid interest thereon, if any, to (but excluding) the date of redemption, plus, (ii) if redeemed prior to May 15, 2026, a make-whole premium. Assuming the 2026 Notes are not redeemed, the 2026 Notes mature on August 15, 2026. 5.38% Notes Due 2027 . In connection with the CCP Merger, on August 17, 2017, the Operating Partnership assumed $100.0 million aggregate principal amount of unregistered 5.38% senior unsecured notes due 2027 (the “2027 Notes”) issued by Care Capital Properties, LP in May 2016. The 2027 Notes accrue interest at a rate of 5.38% per annum payable semiannually on May 17 and November 17 of each year. The Operating Partnership may prepay the 2027 Notes, in whole at any time or in part from time to time, at 100% of the principal amount to be prepaid plus a make-whole premium. Assuming the 2027 Notes are not redeemed, the 2027 Notes mature on May 17, 2027. 3.90% Notes Due 2029. On October 7, 2019 , the Issuers completed an underwritten public offering of $350.0 million aggregate principal amount of 3.90% senior unsecured notes due 2029 (the “2029 Notes”). The net proceeds were $340.5 million after deducting underwriting discounts and other offering expenses. A portion of the net proceeds was used to redeem all of the 2023 Notes as discussed above, and the remaining net proceeds were used to repay borrowings outstanding on the Revolving Credit Facility. The 2029 Notes accrue interest at a rate of 3.90% per annum payable semiannually on April 15 and October 15 of each year. Upon redemption of the 2023 Notes as discussed above, Sabra Capital Corporation’s obligations as a co-issuer under the 2029 Notes were automatically released and discharged. The 2029 Notes are redeemable at the option of the Operating Partnership, in whole or in part at any time and from time to time, prior to July 15, 2029, at a price equal to 100% of the principal amount, together with any accrued and unpaid interest to, but not including, the redemption date, plus a make-whole premium. The Operating Partnership may also redeem the 2029 Notes on or after July 15, 2029, at a price equal to 100% of the principal amount, together with any accrued and unpaid interest to, but not including, the redemption date. Assuming the 2029 Notes are not redeemed, the 2029 Notes mature on October 15, 2029. The obligations under the 2024 Notes and 2027 Notes are fully and unconditionally guaranteed, jointly and severally, on an unsecured basis, by Sabra and one of its non-operating subsidiaries, subject to release under certain customary circumstances. The obligations under the 2026 Notes and 2029 Notes are fully and unconditionally guaranteed, on an unsecured basis, by Sabra; provided, however, that such guarantee is subject to release under certain customary circumstances. See Note 15, “Summarized Consolidating Information,” for additional information concerning the circumstances pursuant to which the guarantors will be automatically and unconditionally released from their obligations under the guarantees. The indenture governing the 2024 Notes contains restrictive covenants that, among other things, restrict the ability of Sabra, the Issuers and their restricted subsidiary to: (i) incur or guarantee additional indebtedness; (ii) incur or guarantee secured indebtedness; and (iii) merge or consolidate or sell all or substantially all of their assets. The indenture governing the 2024 Notes also provides for customary events of default, including, but not limited to, the failure to make payments of interest or premium, if any, on, or principal of, the 2024 Notes, the failure to comply with certain covenants and agreements specified in the indenture for a period of time after notice has been provided, the acceleration of other indebtedness resulting from the failure to pay principal on such other indebtedness prior to its maturity, and certain events of insolvency. If any event of default occurs, the principal of, premium, if any, and accrued interest on all the then-outstanding 2024 Notes may become due and payable immediately. The indenture governing the 2024 Notes requires Sabra, the Issuers and their restricted subsidiary to maintain Total Unencumbered Assets (as defined in the indentures) of at least 150% of the Company’s unsecured indebtedness. The indenture governing the 2026 Notes contains certain covenants that, among other things, limits the ability of Sabra, the Issuers and their subsidiaries to: (i) consummate a merger, consolidate or sell all or substantially all of our consolidated assets and (ii) incur secured or unsecured indebtedness. In addition, Sabra, the Operating Partnership and their subsidiaries are required to maintain at all times consolidated unencumbered total asset value in an amount not less than 150% of the aggregate outstanding principal amount of the Company’s consolidated unsecured debt. The agreement governing the 2027 Notes provides for customary events of default, including, but not limited to, the failure to make payments of interest or premium, if any, on, or principal of, the 2027 Notes, the failure to comply with certain covenants and agreements specified in the agreement governing the 2027 Notes for a period of time after notice has been provided, the acceleration of other indebtedness resulting from the failure to pay principal on such other indebtedness prior to its maturity, and certain events of insolvency. In addition, certain change of control events constitute an event of default under the agreement governing the 2027 Notes. If any event of default occurs, the principal of, premium, if any, and accrued interest on all the then-outstanding 2027 Notes may become due and payable immediately. The indenture governing the 2029 Notes contains restrictive covenants that, among other things, restrict the ability of Sabra, the Issuers and their subsidiaries to: (i) incur or guarantee additional indebtedness; (ii) incur or guarantee secured indebtedness; and (iii) merge or consolidate or sell all or substantially all of their assets. The indenture governing the 2029 Notes also provides for customary events of default, including, but not limited to, the failure to make payments of interest or premium, if any, on, or principal of, the 2029 Notes, the failure to comply with certain covenants and agreements specified in the indenture for a period of time after notice has been provided, the acceleration of other indebtedness resulting from the failure to pay principal on such other indebtedness prior to its maturity, and certain events of insolvency. If any event of default occurs, the principal of, premium, if any, and accrued interest on all the then-outstanding 2029 Notes may become due and payable immediately. The indenture governing the 2029 Notes requires Sabra, the Issuers and their subsidiaries to maintain Total Unencumbered Assets (as defined in the indentures) of at least 150% of the Company’s unsecured indebtedness. The Company was in compliance with all applicable financial covenants under the indentures and agreements (the “Senior Notes Indentures”) governing the 2024 Notes, 2026 Notes, 2027 Notes and 2029 Notes (collectively, the “Senior Notes”) outstanding as of December 31, 2019 . Credit Agreement Effective on August 17, 2017, the Operating Partnership and Sabra Canadian Holdings, LLC (together, the “Borrowers”), Sabra and the other parties thereto entered into a fourth amended and restated unsecured credit agreement (the “Prior Credit Agreement”). The Prior Credit Agreement amended and restated the previous credit agreement entered into by the Borrowers in January 2016 (the “2016 Credit Agreement”). The Company recognized a $0.6 million loss on extinguishment of debt during the year ended December 31, 2017 related to write-offs of deferred financing costs in connection with amending and restating the 2016 Credit Agreement. The Prior Credit Agreement included a $1.0 billion revolving credit facility (the “Prior Revolving Credit Facility”), $1.1 billion in U.S. dollar term loans and a CAD $125.0 million Canadian dollar term loan (collectively, the “Prior Term Loans”). Further, up to $175.0 million of the Prior Revolving Credit Facility could be used for borrowings in certain foreign currencies. The Prior Credit Agreement also contained an accordion feature that allowed for an increase in the total available borrowings to $2.5 billion , subject to terms and conditions. The Prior Revolving Credit Facility had a maturity date of August 17, 2021, and included two six -month extension options. $200.0 million of the U.S. dollar Prior Term Loans had a maturity date of August 17, 2020, and the other Prior Term Loans had a maturity date of August 17, 2022. Borrowings under the Prior Revolving Credit Facility bore interest on the outstanding principal amount at a rate equal to an applicable interest margin plus, at the Operating Partnership’s option, either (a) LIBOR or (b) a base rate determined as the greater of (i) the federal funds rate plus 0.5% , (ii) the prime rate, and (iii) one-month LIBOR plus 1.0% (the “Base Rate”). On August 17, 2017, Sabra’s ratings met the Investment Grade Ratings Criteria (as defined in the Prior Credit Agreement), and Sabra elected to use the ratings-based applicable interest margin for borrowings which varied based on the Debt Ratings, as defined in the Prior Credit Agreement, and ranged from 0.875% to 1.65% per annum for LIBOR based borrowings and 0.00% to 0.65% per annum for borrowings at the Base Rate. In addition, the Operating Partnership paid a facility fee ranging between 0.125% and 0.300% per annum based on the aggregate amount of commitments under the Prior Revolving Credit Facility regardless of amounts outstanding thereunder. The U.S. dollar Prior Term Loans bore interest on the outstanding principal amount at a rate equal to an applicable interest margin plus, at the Operating Partnership’s option, either (a) LIBOR or (b) the Base Rate. The ratings-based applicable interest margin for borrowings varied based on the Debt Ratings, as defined in the Prior Credit Agreement, and ranged from 0.90% to 1.90% per annum for LIBOR based borrowings and 0.00% to 0.90% per annum for borrowings at the Base Rate. The Canadian dollar Prior Term Loan bore interest on the outstanding principal amount at a rate equal to the Canadian Dollar Offered Rate (“CDOR”) plus an interest margin that ranged from 0.90% to 1.90% depending on the Debt Ratings. On September 9, 2019, the Borrowers, Sabra and the other parties thereto entered into a fifth amended and restated unsecured credit agreement (the “Credit Agreement”). The Credit Agreement amends and restates the Prior Credit Agreement. The Company recognized a $0.6 million loss on extinguishment of debt related to write-offs of unamortized deferred financing costs in connection with amending and restating the Prior Credit Agreement during the year ended December 31, 2019 . The Credit Agreement includes a $1.0 billion revolving credit facility (the “Revolving Credit Facility”), $1.1 billion in U.S. dollar term loans and a CAD $125.0 million Canadian dollar term loan (collectively, the “Term Loans”). Further, up to $175.0 million of the Revolving Credit Facility may be used for borrowings in certain foreign currencies. The Credit Agreement also contains an accordion feature that can increase the total available borrowings to $2.75 billion , subject to terms and conditions. The Revolving Credit Facility has a maturity date of September 9, 2023, and includes two six -month extension options. $250.0 million of the U.S. dollar Term Loans has a maturity date of September 9, 2022, $350.0 million of the U.S. dollar Term Loans has a maturity date of September 9, 2023, and the other Term Loans have a maturity date of September 9, 2024. As of December 31, 2019 , there were no amounts outstanding under the Revolving Credit Facility and $1.0 billion available for borrowing. As of December 31, 2019 , $955.0 million in U.S. dollar term loans and the CAD $125.0 million Canadian dollar term loan were outstanding. Borrowings under the Revolving Credit Facility bear interest on the outstanding principal amount at a rate equal to a ratings-based applicable interest margin plus, at the Operating Partnership’s option, either (a) LIBOR or (b) the Base Rate. The ratings-based applicable interest margin for borrowings will vary based on the Debt Ratings, as defined in the Credit Agreement, and will range from 0.775% to 1.45% per annum for LIBOR based borrowings and 0.00% to 0.45% per annum for borrowings at the Base Rate. As of December 31, 2019 , the interest rate on the Revolving Credit Facility was 2.91% . In addition, the Operating Partnership pays a facility fee ranging between 0.125% and 0.300% per annum based on the aggregate amount of commitments under the Revolving Credit Facility regardless of amounts outstanding thereunder. The U.S. dollar Term Loans bear interest on the outstanding principal amount at a rate equal to a ratings-based applicable interest margin plus, at the Operating Partnership’s option, either (a) LIBOR or (b) the Base Rate. The ratings-based applicable interest margin for borrowings will vary based on the Debt Ratings and will range from 0.85% to 1.65% per annum for LIBOR based borrowings and 0.00% to 0.65% per annum for borrowings at the Base Rate. The Canadian dollar Term Loan bears interest on the outstanding principal amount at a rate equal to CDOR plus an interest margin that ranges from 0.85% to 1.65% depending on the Debt Ratings. On June 10, 2015, the Company entered into an interest rate swap agreement to fix the CDOR portion of the interest rate for CAD $90.0 million of its Canadian dollar Term Loan at 1.59% . In addition, CAD $90.0 million of the Canadian dollar Term Loan was designated as a net investment hedge. On August 10, 2016, the Company entered into two interest rate swap agreements to fix the LIBOR portion of the interest rate for $245.0 million of its U.S. dollar Term Loans at 0.90% and one interest rate swap agreement to fix the CDOR portion on CAD $35.0 million of its Canadian dollar Term Loan at 0.93% . See Note 9, “Derivative and Hedging Instruments,” for further information. As a result of the CCP Merger, the Company assumed eight interest rate swap agreements that fix the LIBOR portion of the interest rate for $600 million of the Company’s U.S. dollar Term Loans at a weighted average rate of 1.31% . See Note 9, “Derivative and Hedging Instruments,” for further information. The obligations of the Borrowers under the Credit Agreement are fully and unconditionally guaranteed, jointly and severally, on an unsecured basis, by Sabra and one of its non-operating subsidiaries, subject to release under certain customary circumstances. The Credit Agreement contains customary covenants that include restrictions or limitations on the ability to pay dividends, incur additional indebtedness, engage in non-healthcare related business activities, enter into transactions with affiliates and sell or otherwise transfer certain assets as well as customary events of default. The Credit Agreement also requires Sabra, through the Operating Partnership, to comply with specified financial covenants, which include a maximum total leverage ratio, a minimum secured debt leverage ratio, a minimum fixed charge coverage ratio, a maximum unsecured leverage ratio, a minimum tangible net worth requirement and a minimum unsecured interest coverage ratio. As of December 31, 2019 , the Company was in compliance with all applicable financial covenants under the Credit Agreement. Interest Expense During the years ended December 31, 2019 , 2018 and 2017 , the Company incurred interest expense of $126.6 million , $147.1 million and $88.4 million , respectively. Interest expense includes non-cash interest expense of $10.1 million , $10.1 million and $7.8 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. As of December 31, 2019 and 2018 , the Company had $ 16.7 million and $ 24.0 million , respectively, of accrued interest included in accounts payable and accrued liabilities on the accompanying consolidated balance sheets. Maturities The following is a schedule of maturities for the Company’s outstanding debt as of December 31, 2019 (in thousands): Secured Indebtedness Term Loans Senior Notes Total 2020 $ 3,568 $ — $ — $ 3,568 2021 18,853 — — 18,853 2022 3,198 105,000 — 108,198 2023 3,296 350,000 — 353,296 2024 3,396 596,025 300,000 899,421 Thereafter 82,466 — 950,000 1,032,466 Total Debt 114,777 1,051,025 1,250,000 2,415,802 Premium, net — — 7,612 7,612 Deferred financing costs, net (1,707 ) (10,767 ) (8,839 ) (21,313 ) Total Debt, Net $ 113,070 $ 1,040,258 $ 1,248,773 $ 2,402,101 |
DERIVATIVE AND HEDGING INSTRUME
DERIVATIVE AND HEDGING INSTRUMENTS | 12 Months Ended |
Dec. 31, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
DERIVATIVE AND HEDGING INSTRUMENTS | DERIVATIVE AND HEDGING INSTRUMENTS The Company is exposed to various market risks, including the potential loss arising from adverse changes in interest rates and foreign exchange rates. The Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates and foreign exchange rates. The Company’s derivative financial instruments are used to manage differences in the amount of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s investments and borrowings. Certain of the Company’s foreign operations expose the Company to fluctuations of foreign interest rates and exchange rates. These fluctuations may impact the value in the Company’s functional currency, the U.S. dollar, of the Company’s investment in foreign operations, the cash receipts and payments related to these foreign operations and payments of interest and principal under Canadian dollar denominated debt. The Company enters into derivative financial instruments to protect the value of its foreign investments and fix a portion of the interest payments for certain debt obligations. The Company does not enter into derivatives for speculative purposes. Cash Flow Hedges The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish these objectives, the Company primarily uses interest rate swaps and collars as part of its interest rate risk management strategy. In May 2019, the Company terminated three forward starting interest rate swaps, resulting in a payment to counterparties totaling $12.6 million . The balance of the loss in other comprehensive income will be reclassified to earnings through 2029. As of December 31, 2019 , approximately $1.2 million of gains, which are included in accumulated other comprehensive income, are expected to be reclassified into earnings in the next 12 months. Net Investment Hedges The Company is exposed to fluctuations in foreign exchange rates on investments it holds in Canada. The Company uses cross currency interest rate swaps to hedge its exposure to changes in foreign exchange rates on these foreign investments. The following presents the notional amount of derivative instruments as of the dates indicated (in thousands): December 31, 2019 December 31, 2018 Derivatives designated as cash flow hedges: Denominated in U.S. Dollars (1) $ 1,490,000 $ 1,045,000 Denominated in Canadian Dollars $ 125,000 $ 125,000 Derivatives designated as net investment hedges: Denominated in Canadian Dollars $ 54,489 $ 55,401 Financial instrument designated as net investment hedge: Denominated in Canadian Dollars $ 125,000 $ 125,000 Derivatives not designated as net investment hedges: Denominated in Canadian Dollars $ 1,811 $ 899 (1) Balance includes four forward starting interest rate swaps and one forward starting interest rate collar with an effective date of August 2020 and two forward starting interest rate swaps and one forward starting interest rate collar with an effective date of January 2021 that had been entered into as of December 31, 2019. The forward starting interest rate swaps and forward starting interest rate collars have an aggregate initial notional amount of $645.0 million accreting to $845.0 million in January 2023. Derivative and Financial Instruments Designated as Hedging Instruments The following is a summary of the derivative and financial instruments designated as hedging instruments held by the Company at December 31, 2019 and 2018 (dollars in thousands): Count as of December 31, 2019 Fair Value Maturity Dates December 31, Type Designation 2019 2018 Balance Sheet Location Assets: Interest rate swaps Cash flow 10 $ 4,239 $ 25,184 2020 - 2023 Accounts receivable, prepaid expenses and other assets, net Cross currency interest rate swaps Net investment 2 3,238 4,160 2025 Accounts receivable, prepaid expenses and other assets, net $ 7,477 $ 29,344 Liabilities: Forward starting interest rate swaps Cash flow 6 $ 494 $ 4,529 2024 Accounts payable and accrued liabilities Forward starting interest rate collars Cash flow 2 132 — 2024 Accounts payable and accrued liabilities CAD term loan Net investment 1 96,025 91,700 2024 Term loans, net $ 96,651 $ 96,229 The following presents the effect of the Company’s derivative and financial instruments designated as hedging instruments on the consolidated statements of income and the consolidated statements of equity for the years ended December 31, 2019 , 2018 and 2017 : Gain (Loss) Recognized in Other Comprehensive Income Gain (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income Income Statement Location For the year ended December 31, 2019 2018 2017 2019 2018 2017 Cash Flow Hedges: Interest rate products $ (19,932 ) $ 2,707 $ 10,807 $ 5,545 $ 3,099 $ (2,174 ) Interest expense Net Investment Hedges: Foreign currency products (772 ) 3,554 (2,378 ) — — — N/A CAD term loan (4,325 ) 7,888 (6,588 ) — — — N/A $ (25,029 ) $ 14,149 $ 1,841 $ 5,545 $ 3,099 $ (2,174 ) The gain (loss) in the table above related to interest rate products was reclassified from accumulated other comprehensive income into interest expense. Interest expense totaled $126.6 million , $147.1 million and $88.4 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. During the years ended December 31, 2019 and 2018 , no cash flow hedges were determined to be ineffective. During the year ended December 31, 2017 , the Company determined that a portion of a cash flow hedge was ineffective and recognized $22,000 of unrealized gains related to its interest rate swaps to other income on the consolidated statements of income. Derivatives Not Designated as Hedging Instruments As of December 31, 2019 , the Company had one outstanding cross currency interest rate swap, of which a portion was not designated as a hedging instrument, in an asset position with a fair value of $105,000 and included this amount in accounts receivable, prepaid expenses and other assets, net on the consolidated balance sheets. During the years ended December 31, 2019 , 2018 and 2017 , the Company recorded $5,000 and $34,000 of other income and $8,000 of other expense, respectively, related to the portion of derivatives not designated as hedging instruments. Offsetting Derivatives The Company enters into master netting arrangements, which reduce credit risk by permitting net settlement of transactions with the same counterparty. The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of December 31, 2019 and 2018 (in thousands): As of December 31, 2019 Gross Amounts Not Offset in the Balance Sheet Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 7,477 $ — $ 7,477 $ (544 ) $ — $ 6,933 Offsetting Liabilities: Derivatives $ 626 $ — $ 626 $ (544 ) $ — $ 82 As of December 31, 2018 Gross Amounts Not Offset in the Balance Sheet Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 29,344 $ — $ 29,344 $ (2,069 ) $ — $ 27,275 Offsetting Liabilities: Derivatives $ 4,529 $ — $ 4,529 $ (2,069 ) $ — $ 2,460 Credit-risk-related Contingent Features The Company has agreements with each of its derivative counterparties that contain a provision pursuant to which the Company could be declared in default on the derivative obligation if the Company defaults on any of its indebtedness, including a default where repayment of the indebtedness has not been accelerated by the lender. As of December 31, 2019 , the fair value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $0.1 million . As of December 31, 2019 , the Company has not posted any collateral related to these agreements. If the Company had breached any of these provisions at December 31, 2019 , it could have been required to settle its obligations under the agreements at their termination value of $0.1 million . |
FAIR VALUE DISCLOSURES
FAIR VALUE DISCLOSURES | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE DISCLOSURES | FAIR VALUE DISCLOSURES Financial Instruments The fair value for certain financial instruments is derived using a combination of market quotes, pricing models and other valuation techniques that involve significant management judgment. The price transparency of financial instruments is a key determinant of the degree of judgment involved in determining the fair value of the Company’s financial instruments. Financial instruments for which actively quoted prices or pricing parameters are available and whose markets contain orderly transactions will generally have a higher degree of price transparency than financial instruments whose markets are inactive or consist of non-orderly trades. The Company evaluates several factors when determining if a market is inactive or when market transactions are not orderly. The carrying values of cash and cash equivalents, restricted cash, accounts payable, accrued liabilities and the Credit Agreement are reasonable estimates of fair value because of the short-term maturities of these instruments. Fair values for other financial instruments are derived as follows: Loans receivable : These instruments are presented on the accompanying consolidated balance sheets at their amortized cost and not at fair value. The fair values of the loans receivable were estimated using an internal valuation model that considered the expected cash flows for the loans receivable, as well as the underlying collateral value and other credit enhancements as applicable. As such, the Company classifies these instruments as Level 3. Preferred equity investments : These instruments are presented on the accompanying consolidated balance sheets at their cost and not at fair value. The fair values of the preferred equity investments were estimated using an internal valuation model that considered the expected future cash flows for the preferred equity investments, the underlying collateral value and other credit enhancements. As such, the Company classifies these instruments as Level 3. Derivative instruments : The Company’s derivative instruments are presented at fair value on the accompanying consolidated balance sheets. The Company estimates the fair value of derivative instruments, including its interest rate swaps and cross currency swaps, using the assistance of a third party using inputs that are observable in the market, which include forward yield curves and other relevant information. Although the Company has determined that the majority of the inputs used to value its derivative financial instruments fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivative financial instruments utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by itself and its counterparties. The Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its derivative financial instruments. As a result, the Company has determined that its derivative financial instruments valuations in their entirety are classified in Level 2 of the fair value hierarchy. Senior Notes : These instruments are presented on the accompanying consolidated balance sheets at their outstanding principal balance, net of unamortized deferred financing costs and premiums/discounts and not at fair value. The fair values of the Senior Notes were determined using third-party market quotes derived from orderly trades. As such, the Company classifies these instruments as Level 2. Secured indebtedness : These instruments are presented on the accompanying consolidated balance sheets at their outstanding principal balance, net of unamortized deferred financing costs and premiums/discounts and not at fair value. The fair values of the Company’s secured debt were estimated using a discounted cash flow analysis based on management’s estimates of current market interest rates for instruments with similar characteristics, including remaining loan term, loan-to-value ratio, type of collateral and other credit enhancements. As such, the Company classifies these instruments as Level 3. The following are the face values, carrying amounts and fair values of the Company’s financial instruments as of December 31, 2019 and 2018 whose carrying amounts do not approximate their fair value (in thousands): December 31, 2019 December 31, 2018 Face (1) Carrying (2) Fair Face (1) Carrying (2) Fair Financial assets: Loans receivable $ 67,527 $ 63,070 $ 59,832 $ 96,492 $ 69,460 $ 65,797 Preferred equity investments 43,893 44,304 44,493 43,851 44,262 43,825 Financial liabilities: Senior Notes 1,250,000 1,248,773 1,328,714 1,300,000 1,307,394 1,270,877 Secured indebtedness 114,777 113,070 105,510 117,464 115,679 101,820 (1) Face value represents amounts contractually due under the terms of the respective agreements. (2) Carrying amount represents the book value of financial instruments, including unamortized premiums/discounts and deferred financing costs. The Company determined the fair value of financial instruments as of December 31, 2019 whose carrying amounts do not approximate their fair value with valuation methods utilizing the following types of inputs (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Financial assets: Loans receivable $ 59,832 $ — $ — $ 59,832 Preferred equity investments 44,493 — — 44,493 Financial liabilities: Senior Notes 1,328,714 — 1,328,714 — Secured indebtedness 105,510 — — 105,510 Disclosure of the fair value of financial instruments is based on pertinent information available to the Company at the applicable dates and requires a significant amount of judgment. Despite increased capital market and credit market activity, transaction volume for certain financial instruments remains relatively low. This has made the estimation of fair values difficult and, therefore, both the actual results and the Company’s estimate of fair value at a future date could be materially different. Items Measured at Fair Value on a Recurring Basis During the year ended December 31, 2019 , the Company recorded the following amounts measured at fair value (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Recurring Basis: Financial assets: Interest rate swaps $ 4,239 $ — $ 4,239 $ — Cross currency swaps 3,238 — 3,238 — Financial liabilities: Forward starting interest rate swaps 494 — 494 — Forward starting interest rate collars 132 — 132 — |
EQUITY
EQUITY | 12 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
EQUITY | EQUITY Preferred Stock The Company redeemed all 5,750,000 shares of its 7.125% Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock”) on June 1, 2018 (the “Redemption Date”) for $25.00 per share, plus accrued and unpaid dividends to, but not including, the Redemption Date, without interest, in the amount of $0.4453125 per share of Series A Preferred Stock, for a total redemption price per share of Series A Preferred Stock equal to $25.4453125 . As a result of the redemption, the Company incurred a charge of $5.5 million related to the original issuance costs of the Series A Preferred Stock. The charge is presented as an additional preferred stock dividend in the Company’s consolidated statements of income for the year ended December 31, 2018. Common Stock On February 25, 2019, the Company established an at-the-market equity offering program (the “Prior ATM Program”) to sell shares of its common stock having an aggregate gross sales price of up to $500.0 million from time to time through a consortium of banks acting as sales agents. On December 5, 2019, the Prior ATM Program automatically terminated in accordance with its terms upon the issuance and sale of the maximum aggregate amount of the shares subject to the Prior ATM Program. During the year ended December 31, 2019, the Company sold 23.9 million shares under the Prior ATM Program at an average price of $20.92 per share, generating gross proceeds of $500.0 million , before $7.5 million of commissions. On December 11, 2019, the Company established a new ATM program (the “New ATM Program”) pursuant to which shares of its common stock having an aggregate gross sales price of up to $400.0 million may be sold from time to time (i) by the Company through a consortium of banks acting as sales agents or directly to the banks acting as principals or (ii) by a consortium of banks acting as forward sellers on behalf of any forward purchasers pursuant to a forward sale agreement. The use of a forward sale agreement would allow the Company to lock in a share price on the sale of shares at the time the agreement is effective, but defer receiving the proceeds from the sale of the shares until a later date. The Company may also elect to cash settle or net share settle all or a portion of its obligations under any forward sale agreement. During December 2019, the Company sold 2.9 million shares under the New ATM Program at an average price of $20.86 per share, generating gross proceeds of $60.0 million , before $0.2 million of commissions. As of December 31, 2019 , the Company had $340.0 million available under the New ATM Program. Other Common Stock Issuances During each of the years ended December 31, 2019 and 2018 , the Company issued 0.1 million shares of common stock as a result of restricted stock unit vestings. Upon any payment of shares to employees as a result of restricted stock unit vestings, the employees’ related tax withholding obligation will generally be satisfied by the Company, reducing the number of shares to be delivered by a number of shares necessary to satisfy the related applicable tax withholding obligation. During the years ended December 31, 2019 , 2018 and 2017 , the Company incurred $1.5 million , $0.4 million and $3.1 million , respectively, in tax withholding obligations on behalf of its employees that were satisfied through a reduction in the number of shares delivered to those participants. Accumulated Other Comprehensive (Loss) Income The following is a summary of the Company’s accumulated other comprehensive (loss) income (in thousands): Year Ended December 31, 2019 2018 Foreign currency translation gain (loss) $ (1,516 ) $ (2,193 ) Unrealized (loss) gain on cash flow hedges (10,872 ) 14,494 Total accumulated other comprehensive (loss) income $ (12,388 ) $ 12,301 |
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION | 12 Months Ended |
Dec. 31, 2019 | |
Share-based Payment Arrangement [Abstract] | |
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION All stock-based awards are subject to the terms of the 2009 Performance Incentive Plan, which was assumed by the Company effective as of November 15, 2010 in connection with the Company’s separation from Sun and was most recently amended and restated in April 2017. The 2009 Performance Incentive Plan provides for the granting of stock-based compensation, including stock options, time-based stock units, funds from operations-based stock units (“FFO Units”), relative total stockholder return-based stock units (“TSR Units”) and performance-based restricted stock units to officers, employees and directors in connection with their employment with or services provided to the Company. Stock Options In connection with the CCP Merger, the Company assumed stock options outstanding as of the effective time of the CCP Merger. During the year ended December 31, 2019 , no stock options were exercised and 1.2 million stock options expired. As of December 31, 2019 , no stock options were outstanding. As of December 31, 2018 , 1.2 million stock options with a weighted average exercise price per share of $28.04 were outstanding. Restricted Stock Units and Performance-Based Restricted Stock Units Under the 2009 Performance Incentive Plan, restricted stock units and performance-based restricted stock units generally have a contractual life or vest over a three - to five -year period. The vesting of certain restricted stock units may accelerate, as defined in the grant, upon retirement, a change in control and other events. When vested (and subject to any applicable deferral or holdback period), each performance-based restricted stock unit is convertible into one share of common stock, subject to any deferrals in issuance pursuant to the grant. The restricted stock units are valued on the grant date based on the market price of the Company’s common stock on that date. Generally, the Company recognizes the fair value of the awards over the applicable vesting period as compensation expense. In addition, since the shares to be issued may vary based on the performance of the Company, the Company must make assumptions regarding the projected performance criteria and the shares that will ultimately be issued. The amount of FFO Units that will ultimately vest is dependent on the amount by which the Company’s funds from operations as adjusted (“FFO”) differs from a target FFO amount for a period specified in each grant and will range from 0% to 200% of the FFO Units initially granted. Similarly, the amount of TSR Units that will ultimately vest is dependent on the amount by which the total shareholder return (“TSR”) of the Company’s common stock differs from a predefined peer group for a period specified in each grant and will range from 0% to 200% of the TSR Units initially granted. Upon any payment of shares as a result of restricted stock unit vestings, the related tax withholding obligation will generally be satisfied by the Company, reducing the number of shares to be delivered by a number of shares necessary to satisfy the related applicable tax withholding obligation. The value of the shares withheld is dependent on the closing price of the Company’s common stock on the date the relevant transaction occurs. The following table summarizes additional information concerning restricted stock units at December 31, 2019 : Restricted Stock Units Weighted Average Grant Date Fair Value Per Unit Unvested as of December 31, 2018 1,477,318 $ 17.88 Granted 603,131 20.59 Vested (433,181 ) 18.34 Dividends reinvested 152,329 18.60 Cancelled/forfeited (61,735 ) 18.29 Unvested as of December 31, 2019 1,737,862 $ 18.90 As of December 31, 2019 , the weighted average remaining vesting period of restricted stock units was 2.5 years. The weighted average fair value per share at the date of grant for restricted stock units for the years ended December 31, 2019 , 2018 and 2017 was $20.59 , $16.02 and $19.38 , respectively. The total fair value of units vested during the years ended December 31, 2019 , 2018 and 2017 was $7.9 million , $3.6 million and $8.4 million , respectively. The fair value of the TSR Units is estimated on the date of grant using a Monte Carlo valuation model that uses the assumptions noted in the table below. The risk-free rate is based on the U.S. Treasury yield curve in effect at the grant date for the expected performance period. Expected volatility is based on historical volatility for the most recent 3 -year period ending on the grant date for the Company and the selected peer companies, and is calculated on a daily basis. The following are the key assumptions used in this valuation: 2019 2018 2017 Risk free interest rate 1.57% - 2.54% 2.36% - 2.59% 1.42% - 1.99% Expected stock price volatility 23.80% - 28.57% 28.57% - 30.02% 28.86% - 30.97% Expected service period 2.4 - 3.0 years 2.5 - 3.0 years 2.2 - 3.0 years Expected dividend yield (assuming full reinvestment) — % — % — % During the years ended December 31, 2019 , 2018 and 2017 , the Company recognized $9.8 million , $7.6 million and $7.0 million , respectively, of stock-based compensation expense included in general and administrative expense in the consolidated statements of income. During the year ended December 31, 2017, the Company recognized $1.4 million of stock-based compensation expense related to former CCP employees included in merger and acquisition costs in the consolidated statements of income. As of December 31, 2019 , there was $20.1 million of total unrecognized stock-based compensation expense related to unvested awards, which is expected to be recognized over a weighted average period of 2.5 years. Employee Benefit Plan The Company maintains a 401(k) plan that allows for eligible participants to defer compensation, subject to certain limitations imposed by the Internal Revenue Code of 1986, as amended (the “Code”). The Company provides a discretionary matching contribution of up to 3% of each participant’s eligible compensation. During the years ended December 31, 2019 , 2018 and 2017 , the Company’s matching contributions were approximately $211,000 , $171,000 and $143,000 |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | INCOME TAXES The Company elected to be treated as a REIT with the filing of its U.S. federal income tax return for the taxable year beginning January 1, 2011. To qualify as a REIT, the Company must meet a number of organizational and operational requirements, including a requirement to distribute at least 90% of its taxable ordinary income. In addition, the Company is required to meet certain asset and income tests. As a REIT, the Company generally will not be subject to corporate level federal income tax on taxable income that it distributes to its stockholders. The Company also elected to treat certain of its consolidated subsidiaries as taxable REIT subsidiaries, which are subject to federal, state and foreign income taxes. As a result of acquisitions in Canada during 2015, the Company is subject to income taxes under the laws of Canada. The Company recorded a $0.5 million , $0.6 million and $1.3 million income tax benefit during the years ended December 31, 2019 , 2018 and 2017 , respectively, with respect to its Canadian operations. Due to uncertainty over the Company’s ability to utilize this income tax benefit in future periods, the Company recorded a valuation allowance of $0.5 million , $0.7 million and $1.2 million against the deferred tax benefit during the years ended December 31, 2019 , 2018 and 2017 , respectively. The Company classifies interest and penalties from significant uncertain tax positions as interest expense and operating expenses, respectively, in its consolidated financial statements. During the years ended December 31, 2019 , 2018 and 2017 , the Company did not incur any such interest or penalties. With certain exceptions, the tax years 2016 and thereafter remain open to examination by the major taxing jurisdictions with which the Company files tax returns. |
EARNINGS PER COMMON SHARE
EARNINGS PER COMMON SHARE | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
EARNINGS PER COMMON SHARE | EARNINGS PER COMMON SHARE The following table illustrates the computation of basic and diluted earnings per share (in thousands, except share and per share amounts): Year Ended December 31, 2019 2018 2017 Numerator Net income attributable to common stockholders $ 68,996 $ 269,314 $ 148,141 Denominator Basic weighted average common shares and common equivalents 187,172,210 178,305,738 105,621,242 Dilutive stock options and restricted stock units 954,882 416,006 221,192 Diluted weighted average common shares 188,127,092 178,721,744 105,842,434 Net income attributable to common stockholders, per: Basic common share $ 0.37 $ 1.51 $ 1.40 Diluted common share $ 0.37 $ 1.51 $ 1.40 During the years ended December 31, 2019 , 2018 and 2017 , approximately 1,000 , 121,000 and 132,000 restricted stock units, respectively, were not included in computing diluted earnings per share because they were considered anti-dilutive. No stock options were outstanding as of December 31, 2019 , and no stock options were considered anti-dilutive during the years ended December 31, 2018 and 2017 . |
SUMMARIZED CONSOLIDATING INFORM
SUMMARIZED CONSOLIDATING INFORMATION | 12 Months Ended |
Dec. 31, 2019 | |
Summarized Condensed Consolidating Information [Abstract] | |
SUMMARIZED CONSOLIDATING INFORMATION | SUMMARIZED CONSOLIDATING INFORMATION The 2024 Notes are issued by the Operating Partnership and fully and unconditionally guaranteed, jointly and severally, by the Company and one of the Company’s non-operating subsidiaries, subject to release under certain customary circumstances as described below. In connection with the Operating Partnership’s assumption of the 2026 Notes as a result of the CCP Merger, the Company has fully and unconditionally guaranteed the 2026 Notes, subject to release under certain circumstances as described below. The 2029 Notes are issued by the Operating Partnership and guaranteed, fully and unconditionally, by the Company. These guarantees are subordinated to all existing and future senior debt and senior guarantees of the applicable guarantors and are unsecured. The Company conducts all of its business through and derives virtually all of its income from its subsidiaries. Therefore, the Company’s ability to make required payments with respect to its indebtedness (including the Senior Notes) and other obligations depends on the financial results and condition of its subsidiaries and its ability to receive funds from its subsidiaries. A guarantor will be automatically and unconditionally released from its obligations under the guarantee with respect to the 2024 Notes in the event of: • Any sale of the subsidiary guarantor or of all or substantially all of its assets; • A merger or consolidation of the subsidiary guarantor with the Operating Partnership or the Company, provided that the surviving entity remains a guarantor; • The requirements for legal defeasance or covenant defeasance or to discharge the indenture governing the 2024 Notes have been satisfied; • A liquidation or dissolution, to the extent permitted under the indenture governing the 2024 Notes, of the subsidiary guarantor; • The release or discharge of the guaranty that resulted in the creation of the subsidiary guaranty, except a discharge or release by or as a result of payment under such guaranty; or • If the subsidiary guarantor is not a guarantor or is not otherwise liable in respect of any obligations under any credit facility (as defined in the indenture governing the 2024 Notes) of the Company or any of its subsidiaries. The Company will be automatically and unconditionally released from its obligations under the guarantee with respect to the 2026 Notes in the event of: • A liquidation or dissolution, to the extent permitted under the indenture governing the 2026 Notes; • A merger or consolidation, provided that the surviving entity remains a guarantor; or • The requirements for legal defeasance or covenant defeasance or to discharge the indenture governing the 2026 Notes have been satisfied. Pursuant to Rule 3-10 of Regulation S-X, the following summarized consolidating information is provided for the Company (the “Parent Company”), the Operating Partnership, Sabra Health Care, L.L.C. (the guarantor subsidiary of the 2024 Notes) and the Company’s non-guarantor subsidiaries with respect to the 2024 Notes. This summarized financial information has been prepared from the books and records maintained by the Company, the Operating Partnership, Sabra Health Care, L.L.C. and the non-guarantor subsidiaries. The summarized financial information may not necessarily be indicative of the results of operations or financial position had the Operating Partnership, Sabra Health Care, L.L.C. or non-guarantor subsidiaries operated as independent entities. Sabra’s investments in its consolidated subsidiaries are presented based upon Sabra’s proportionate share of each subsidiary’s net assets. Intercompany activities between subsidiaries and the Parent Company are presented within operating activities on the consolidating statement of cash flows. Consolidating financial statements for the Company and its subsidiaries, including the Parent Company only, the Operating Partnership only, Sabra Health Care, L.L.C. only and the combined non-guarantor subsidiaries, are as follows: CONSOLIDATING BALANCE SHEET December 31, 2019 (in thousands, except share and per share amounts) Combined Non-Guarantor Subsidiaries of 2026 Notes and 2029 Notes (5) Parent (1) Operating (2) Sabra Health Care, L.L.C. (3) Combined (4) Elimination Consolidated Assets Real estate investments, net of accumulated depreciation $ 384 $ — $ — $ 5,340,986 $ — $ 5,341,370 Loans receivable and other investments, net (564 ) — — 107,938 — 107,374 Investment in unconsolidated joint venture — — — 319,460 — 319,460 Cash and cash equivalents 29,369 — — 9,728 — 39,097 Restricted cash — — — 10,046 — 10,046 Lease intangible assets, net — — — 101,509 — 101,509 Accounts receivable, prepaid expenses and other assets, net 4,753 18,655 — 137,247 (10,212 ) 150,443 Intercompany 2,126,198 1,728,096 — — (3,854,294 ) — Investment in subsidiaries 1,359,702 1,823,897 — 35,150 (3,218,749 ) — Total assets $ 3,519,842 $ 3,570,648 $ — $ 6,062,064 $ (7,083,255 ) $ 6,069,299 Liabilities Secured debt, net $ — $ — $ — $ 113,070 $ — $ 113,070 Revolving credit facility — — — — — — Term loans, net — 945,393 — 94,865 — 1,040,258 Senior unsecured notes, net — 1,248,773 — — — 1,248,773 Accounts payable and accrued liabilities 31,382 16,780 — 70,842 (10,212 ) 108,792 Lease intangible liabilities, net — — — 69,946 — 69,946 Intercompany — — — 3,854,294 (3,854,294 ) — Total liabilities 31,382 2,210,946 — 4,203,017 (3,864,506 ) 2,580,839 Total equity 3,488,460 1,359,702 — 1,859,047 (3,218,749 ) 3,488,460 Total liabilities and equity $ 3,519,842 $ 3,570,648 $ — $ 6,062,064 $ (7,083,255 ) $ 6,069,299 (1) The Parent Company guarantees the 2024 Notes, the 2026 Notes and the 2029 Notes. (2) The Operating Partnership is the issuer of the 2024 Notes, the 2026 Notes and the 2029 Notes. (3) Sabra Health Care, L.L.C. guarantees the 2024 Notes. (4) The Combined Non-Guarantor Subsidiaries of the 2024 Notes consist of the subsidiaries that do not guarantee the 2024 Notes. (5) None of Sabra Health Care, L.L.C. nor the Combined Non-Guarantor Subsidiaries of the 2024 Notes guarantee the 2026 Notes or the 2029 Notes. CONSOLIDATING BALANCE SHEET December 31, 2018 (in thousands, except share and per share amounts) Combined Non-Guarantor Subsidiaries of 2026 Notes and 2029 Notes (5) Parent (1) Operating (2) Sabra Health Care, L.L.C. (3) Combined (4) Elimination Consolidated Assets Real estate investments, net of accumulated depreciation $ 317 $ — $ — $ 5,853,228 $ — $ 5,853,545 Loans receivable and other investments, net (560 ) — — 114,282 — 113,722 Investment in unconsolidated joint venture — — — 340,120 — 340,120 Cash and cash equivalents 40,835 — — 9,395 — 50,230 Restricted cash — — — 9,428 — 9,428 Lease intangible assets, net — — — 131,097 — 131,097 Accounts receivable, prepaid expenses and other assets, net 798 37,075 — 140,307 (11,019 ) 167,161 Intercompany 1,972,059 2,646,669 — — (4,618,728 ) — Investment in subsidiaries 1,258,715 1,629,795 — 33,083 (2,921,593 ) — Total assets $ 3,272,164 $ 4,313,539 $ — $ 6,630,940 $ (7,551,340 ) $ 6,665,303 Liabilities Secured debt, net $ — $ — $ — $ 115,679 $ — $ 115,679 Revolving credit facility — 624,000 — — — 624,000 Term loans, net — 1,094,177 — 90,753 — 1,184,930 Senior unsecured notes, net — 1,307,394 — — — 1,307,394 Accounts payable and accrued liabilities 21,750 29,253 — 54,843 (11,019 ) 94,827 Lease intangible liabilities, net — — — 83,726 — 83,726 Intercompany — — — 4,618,728 (4,618,728 ) — Total liabilities 21,750 3,054,824 — 4,963,729 (4,629,747 ) 3,410,556 Total Sabra Health Care REIT, Inc. stockholders’ equity 3,250,414 1,258,715 — 1,662,878 (2,921,593 ) 3,250,414 Noncontrolling interests — — — 4,333 — 4,333 Total equity 3,250,414 1,258,715 — 1,667,211 (2,921,593 ) 3,254,747 Total liabilities and equity $ 3,272,164 $ 4,313,539 $ — $ 6,630,940 $ (7,551,340 ) $ 6,665,303 (1) The Parent Company guarantees the 2024 Notes, the 2026 Notes and the 2029 Notes. (2) The Operating Partnership is the issuer of the 2024 Notes, the 2026 Notes and the 2029 Notes. (3) Sabra Health Care, L.L.C. guarantees the 2024 Notes. (4) The Combined Non-Guarantor Subsidiaries of the 2024 Notes consist of the subsidiaries that do not guarantee the 2024 Notes. (5) None of Sabra Health Care, L.L.C. nor the Combined Non-Guarantor Subsidiaries of the 2024 Notes guarantee the 2026 Notes or the 2029 Notes. CONSOLIDATING STATEMENT OF INCOME For the Year Ended December 31, 2019 (in thousands, except share and per share amounts) Combined Non-Guarantor Subsidiaries of 2026 Notes and 2029 Notes (5) Parent (1) Operating (2) Sabra Health Care, L.L.C. (3) Combined (4) Elimination Consolidated Revenues: Rental and related revenues $ — $ — $ — $ 485,138 $ (33,000 ) $ 452,138 Interest and other income 255 5,655 — 81,285 (5,655 ) 81,540 Resident fees and services — — — 128,058 — 128,058 Total revenues 255 5,655 — 694,481 (38,655 ) 661,736 Expenses: Depreciation and amortization 50 — — 181,499 — 181,549 Interest — 118,656 — 13,609 (5,655 ) 126,610 Triple-net portfolio operating expenses — — — 22,215 — 22,215 Senior housing - managed portfolio operating expenses — — — 119,257 (33,000 ) 86,257 General and administrative 28,486 175 — 1,801 — 30,462 Merger and acquisition costs 423 — — 1 — 424 Provision for doubtful accounts, straight-line rental income and loan losses 4 — — 1,234 — 1,238 Impairment of real estate — — — 121,819 — 121,819 Total expenses 28,963 118,831 — 461,435 (38,655 ) 570,574 Other income (expense): Loss on extinguishment of debt — (16,296 ) — (44 ) — (16,340 ) Other (expense) income — (321 ) — 2,415 — 2,094 Net gain on sales of real estate — — — 2,300 — 2,300 Total other (expense) income — (16,617 ) — 4,671 — (11,946 ) Income in subsidiary 98,665 228,459 — 6,846 (333,970 ) — Income before loss from unconsolidated joint venture and income tax expense 69,957 98,666 — 244,563 (333,970 ) 79,216 Loss from unconsolidated joint venture — — — (6,796 ) — (6,796 ) Income tax expense (961 ) (1 ) — (2,440 ) — (3,402 ) Net income 68,996 98,665 — 235,327 (333,970 ) 69,018 Net income attributable to noncontrolling interests — — — (22 ) — (22 ) Net income attributable to common stockholders $ 68,996 $ 98,665 $ — $ 235,305 $ (333,970 ) $ 68,996 Net income attributable to common stockholders, per: Basic common share $ 0.37 Diluted common share $ 0.37 Weighted-average number of common shares outstanding, basic 187,172,210 Weighted-average number of common shares outstanding, diluted 188,127,092 (1) The Parent Company guarantees the 2024 Notes, the 2026 Notes and the 2029 Notes. (2) The Operating Partnership is the issuer of the 2024 Notes, the 2026 Notes and the 2029 Notes. (3) Sabra Health Care, L.L.C. guarantees the 2024 Notes. (4) The Combined Non-Guarantor Subsidiaries of the 2024 Notes consist of the subsidiaries that do not guarantee the 2024 Notes. (5) None of Sabra Health Care, L.L.C. nor the Combined Non-Guarantor Subsidiaries of the 2024 Notes guarantee the 2026 Notes or the 2029 Notes. CONSOLIDATING STATEMENT OF INCOME For the Year Ended December 31, 2018 (in thousands, except share and per share amounts) Combined Non-Guarantor Subsidiaries of 2026 Notes and 2029 Notes (5) Parent (1) Operating (2) Sabra Health Care, L.L.C. (3) Combined (4) Elimination Consolidated Revenues: Rental and related revenues $ — $ — $ — $ 554,030 $ (17,425 ) $ 536,605 Interest and other income 110 399 — 16,557 (399 ) 16,667 Resident fees and services — — — 70,137 — 70,137 Total revenues 110 399 — 640,724 (17,824 ) 623,409 Expenses: Depreciation and amortization 887 — — 190,492 — 191,379 Interest — 134,096 — 13,409 (399 ) 147,106 Senior housing - managed portfolio operating expenses — — — 66,971 (17,425 ) 49,546 General and administrative 26,801 71 — 9,586 — 36,458 Merger and acquisition costs 642 — — (6 ) — 636 Provision for doubtful accounts, straight-line rental income and loan losses 822 — — 38,253 — 39,075 Impairment of real estate — — — 1,413 — 1,413 Total expenses 29,152 134,167 — 320,118 (17,824 ) 465,613 Other income (expense): Loss on extinguishment of debt — — — (2,917 ) — (2,917 ) Other income (expense) 1,977 (55 ) — 2,558 — 4,480 Net gain on sales of real estate — — — 128,198 — 128,198 Total other income (expense) 1,977 (55 ) — 127,839 — 129,761 Income in subsidiary 307,736 441,560 — 24,316 (773,612 ) — Income before loss from unconsolidated joint venture and income tax expense 280,671 307,737 — 472,761 (773,612 ) 287,557 Loss from unconsolidated joint venture — — — (5,431 ) — (5,431 ) Income tax expense (1,589 ) (1 ) — (1,421 ) — (3,011 ) Net income 279,082 307,736 — 465,909 (773,612 ) 279,115 Net loss attributable to noncontrolling interests — — — (33 ) — (33 ) Net income attributable to Sabra Health Care REIT, Inc. 279,082 307,736 — 465,876 (773,612 ) 279,082 Preferred stock dividends (9,768 ) — — — — (9,768 ) Net income attributable to common stockholders $ 269,314 $ 307,736 $ — $ 465,876 $ (773,612 ) $ 269,314 Net income attributable to common stockholders, per: Basic common share $ 1.51 Diluted common share $ 1.51 Weighted-average number of common shares outstanding, basic 178,305,738 Weighted-average number of common shares outstanding, diluted 178,721,744 (1) The Parent Company guarantees the 2024 Notes, the 2026 Notes and the 2029 Notes. (2) The Operating Partnership is the issuer of the 2024 Notes, the 2026 Notes and the 2029 Notes. (3) Sabra Health Care, L.L.C. guarantees the 2024 Notes. (4) The Combined Non-Guarantor Subsidiaries of the 2024 Notes consist of the subsidiaries that do not guarantee the 2024 Notes. (5) None of Sabra Health Care, L.L.C. nor the Combined Non-Guarantor Subsidiaries of the 2024 Notes guarantee the 2026 Notes or the 2029 Notes. CONSOLIDATING STATEMENT OF INCOME For the Year Ended December 31, 2017 (in thousands, except share and per share amounts) Combined Non-Guarantor Subsidiaries of 2026 Notes and 2029 Notes (5) Parent (1) Operating (2) Sabra Health Care, L.L.C. (3) Combined (4) Elimination Consolidated Revenues: Rental and related revenues $ — $ — $ — $ 371,704 $ (7,513 ) $ 364,191 Interest and other income 2,673 143 — 15,005 (161 ) 17,660 Resident fee and services — — — 26,430 — 26,430 Total revenues 2,673 143 — 413,139 (7,674 ) 408,281 Expenses: Depreciation and amortization 867 — — 113,015 — 113,882 Interest — 77,767 — 10,816 (143 ) 88,440 Senior housing - managed portfolio operating expenses — — — 25,391 (7,531 ) 17,860 General and administrative 24,810 65 — 7,526 — 32,401 Merger and acquisition costs 30,208 — — 47 — 30,255 Provision for doubtful accounts, straight-line rental income and loan losses 227 — — 16,886 — 17,113 Impairment of real estate — — — 1,326 — 1,326 Total expenses 56,112 77,832 — 175,007 (7,674 ) 301,277 Other income (expense): Loss on extinguishment of debt — (422 ) — (131 ) — (553 ) Other income (expense) — 1,130 — (594 ) — 536 Net gain on sales of real estate — — — 52,029 — 52,029 Total other income — 708 — 51,304 — 52,012 Income in subsidiary 212,432 289,414 — 7,199 (509,045 ) — Income before income tax expense 158,993 212,433 — 296,635 (509,045 ) 159,016 Income tax expense (610 ) (1 ) — (40 ) — (651 ) Net income 158,383 212,432 — 296,595 (509,045 ) 158,365 Net loss attributable to noncontrolling interests — — — 18 — 18 Net income attributable to Sabra Health Care REIT, Inc. 158,383 212,432 — 296,613 (509,045 ) 158,383 Preferred stock dividends (10,242 ) — — — — (10,242 ) Net income attributable to common stockholders $ 148,141 $ 212,432 $ — $ 296,613 $ (509,045 ) $ 148,141 Net income attributable to common stockholders, per: Basic common share $ 1.40 Diluted common share $ 1.40 Weighted-average number of common shares outstanding, basic 105,621,242 Weighted-average number of common shares outstanding, diluted 105,842,434 (1) The Parent Company guarantees the 2024 Notes, the 2026 Notes and the 2029 Notes. (2) The Operating Partnership is the issuer of the 2024 Notes, the 2026 Notes and the 2029 Notes. (3) Sabra Health Care, L.L.C. guarantees the 2024 Notes. (4) The Combined Non-Guarantor Subsidiaries of the 2024 Notes consist of the subsidiaries that do not guarantee the 2024 Notes. (5) None of Sabra Health Care, L.L.C. nor the Combined Non-Guarantor Subsidiaries of the 2024 Notes guarantee the 2026 Notes or the 2029 Notes. CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Year Ended December 31, 2019 (in thousands) Combined Non-Guarantor Subsidiaries of 2026 Notes and 2029 Notes (5) Parent (1) Operating (2) Sabra Health Care, L.L.C. (3) Combined (4) Elimination Consolidated Net income $ 68,996 $ 98,665 $ — $ 235,327 $ (333,970 ) $ 69,018 Other comprehensive (loss) income: Unrealized gain (loss), net of tax: Foreign currency translation (loss) gain — (1,276 ) — 1,955 — 679 Unrealized (loss) gain on cash flow hedge — (25,416 ) — 48 — (25,368 ) Total other comprehensive (loss) income — (26,692 ) — 2,003 — (24,689 ) Comprehensive income 68,996 71,973 — 237,330 (333,970 ) 44,329 Comprehensive income attributable to noncontrolling interests — — — (22 ) — (22 ) Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 68,996 $ 71,973 $ — $ 237,308 $ (333,970 ) $ 44,307 (1) The Parent Company guarantees the 2024 Notes, the 2026 Notes and the 2029 Notes. (2) The Operating Partnership is the issuer of the 2024 Notes, the 2026 Notes and the 2029 Notes. (3) Sabra Health Care, L.L.C. guarantees the 2024 Notes. (4) The Combined Non-Guarantor Subsidiaries of the 2024 Notes consist of the subsidiaries that do not guarantee the 2024 Notes. (5) None of Sabra Health Care, L.L.C. nor the Combined Non-Guarantor Subsidiaries of the 2024 Notes guarantee the 2026 Notes or the 2029 Notes. CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Year Ended December 31, 2018 (in thousands) Combined Non-Guarantor Subsidiaries of 2026 Notes and 2029 Notes (5) Parent (1) Operating (2) Sabra Health Care, L.L.C. (3) Combined (4) Elimination Consolidated Net income $ 279,082 $ 307,736 $ — $ 465,909 $ (773,612 ) $ 279,115 Other comprehensive income (loss): Unrealized gain (loss), net of tax: Foreign currency translation gain (loss) — 4,329 — (3,609 ) — 720 Unrealized gain on cash flow hedge — 244 — 48 — 292 Total other comprehensive income (loss) — 4,573 — (3,561 ) — 1,012 Comprehensive income 279,082 312,309 — 462,348 (773,612 ) 280,127 Comprehensive income attributable to noncontrolling interests — — — (33 ) — (33 ) Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 279,082 $ 312,309 $ — $ 462,315 $ (773,612 ) $ 280,094 (1) The Parent Company guarantees the 2024 Notes, the 2026 Notes and the 2029 Notes. (2) The Operating Partnership is the issuer of the 2024 Notes, the 2026 Notes and the 2029 Notes. (3) Sabra Health Care, L.L.C. guarantees the 2024 Notes. (4) The Combined Non-Guarantor Subsidiaries of the 2024 Notes consist of the subsidiaries that do not guarantee the 2024 Notes. (5) None of Sabra Health Care, L.L.C. nor the Combined Non-Guarantor Subsidiaries of the 2024 Notes guarantee the 2026 Notes or the 2029 Notes. CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Year Ended December 31, 2017 (in thousands) Combined Non-Guarantor Subsidiaries of 2026 Notes and 2029 Notes (5) Parent (1) Operating (2) Sabra Health Care, L.L.C. (3) Combined (4) Elimination Consolidated Net income $ 158,383 $ 212,432 $ — $ 296,595 $ (509,045 ) $ 158,365 Other comprehensive income: Unrealized gain (loss), net of tax: Foreign currency translation (loss) gain — (2,821 ) — 2,975 — 154 Unrealized gain (loss) on cash flow hedges — 13,078 — (145 ) — 12,933 Total other comprehensive income — 10,257 — 2,830 — 13,087 Comprehensive income 158,383 222,689 — 299,425 (509,045 ) 171,452 Comprehensive loss attributable to noncontrolling interests — — — 18 — 18 Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 158,383 $ 222,689 $ — $ 299,443 $ (509,045 ) $ 171,470 (1) The Parent Company guarantees the 2024 Notes, the 2026 Notes and the 2029 Notes. (2) The Operating Partnership is the issuer of the 2024 Notes, the 2026 Notes and the 2029 Notes. (3) Sabra Health Care, L.L.C. guarantees the 2024 Notes. (4) The Combined Non-Guarantor Subsidiaries of the 2024 Notes consist of the subsidiaries that do not guarantee the 2024 Notes. (5) None of Sabra Health Care, L.L.C. nor the Combined Non-Guarantor Subsidiaries of the 2024 Notes guarantee the 2026 Notes or the 2029 Notes. CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2019 (in thousands) Combined Non-Guarantor Subsidiaries of 2026 Notes and 2029 Notes (5) Parent (1) Operating (2) Sabra Health Care, L.L.C. (3) Combined (4) Elimination Consolidated Net cash provided by operating activities $ 359,681 $ — $ — $ 12,794 $ — $ 372,475 Cash flows from investing activities: Acquisition of real estate — — — (51,136 ) — (51,136 ) Origination and fundings of loans receivable — — — (13,065 ) — (13,065 ) Additions to real estate (115 ) — — (25,336 ) — (25,451 ) Repayment of loans receivable — — — 18,367 — 18,367 Repayment of preferred equity investments — — — 5,079 — 5,079 Net proceeds from sales of real estate — — — 329,050 — 329,050 Distribution from subsidiaries 5,248 5,248 — — (10,496 ) — Intercompany financing (590,173 ) 266,148 — — 324,025 — Net cash (used in) provided by investing activities (585,040 ) 271,396 — 262,959 313,529 262,844 Cash flows from financing activities: Net repayments of revolving credit facility — (624,000 ) — — — (624,000 ) Proceeds from issuance of senior unsecured notes — 638,779 — — — 638,779 Principal payments on senior unsecured notes — (700,000 ) — — — (700,000 ) Principal payments on term loans — (145,000 ) — — — (145,000 ) Principal payments on secured debt — — — (3,436 ) — (3,436 ) Payments of deferred financing costs — (15,598 ) — — — (15,598 ) Payments related to extinguishment of debt — (10,502 ) — — — (10,502 ) Distributions to noncontrolling interests — — — (316 ) — (316 ) Issuance of common stock, net 549,328 — — — — 549,328 Dividends paid on common stock (335,435 ) — — — — (335,435 ) Distribution to parent — (5,248 ) — (5,248 ) 10,496 — Intercompany financing — 590,173 — (266,148 ) (324,025 ) — Net cash provided by (used in) financing activities 213,893 (271,396 ) — (275,148 ) (313,529 ) (646,180 ) Net (decrease) increase in cash, cash equivalents and restricted cash (11,466 ) — — 605 — (10,861 ) Effect of foreign currency translation on cash, cash equivalents and restricted cash — — — 346 — 346 Cash, cash equivalents and restricted cash, beginning of period 40,835 — — 18,823 — 59,658 Cash, cash equivalents and restricted cash, end of period $ 29,369 $ — $ — $ 19,774 $ — $ 49,143 (1) The Parent Company guarantees the 2024 Notes, the 2026 Notes and the 2029 Notes. (2) The Operating Partnership is the issuer of the 2024 Notes, the 2026 Notes and the 2029 Notes. (3) Sabra Health Care, L.L.C. guarantees the 2024 Notes. (4) The Combined Non-Guarantor Subsidiaries of the 2024 Notes consist of the subsidiaries that do not guarantee the 2024 Notes. (5) None of Sabra Health Care, L.L.C. nor the Combined Non-Guarantor Subsidiaries of the 2024 Notes guarantee the 2026 Notes or the 2029 Notes. CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2018 (in thousands) Combined Non-Guarantor Subsidiaries of 2026 Notes and 2029 Notes (5) Parent (1) Operating (2) Sabra Health Care, L.L.C. (3) Combined (4) Elimination Consolidated Net cash provided by operating activities $ 312,485 $ — $ — $ 48,101 $ — $ 360,586 Cash flows from investing activities: Acquisition of real estate — — — (261,511 ) — (261,511 ) Origination and fundings of loans receivable — — — (50,731 ) — (50,731 ) Origination and fundings of preferred equity investments — — — (5,313 ) — (5,313 ) Additions to real estate (40 ) — — (27,657 ) — (27,697 ) Repayment of loans receivable — — — 51,789 — 51,789 Repayment of preferred equity investments — — — 6,870 — 6,870 Investment in unconsolidated JV — — — (354,461 ) — (354,461 ) Net proceeds from sales of real estate — — — 382,560 — 382,560 Distribution from subsidiaries 5,457 5,457 — — (10,914 ) — Intercompany financing (319,268 ) (299,873 ) — — 619,141 — Net cash used in investing activities (313,851 ) (294,416 ) — (258,454 ) 608,227 (258,494 ) Cash flows from financing activities: Net repayments of revolving credit facility — (17,000 ) — — — (17,000 ) Principal payments on secured debt — — — (140,338 ) — (140,338 ) Payments of deferred financing costs — (352 ) — — — (352 ) Payments related to extinguishment of debt — (2,043 ) — — — (2,043 ) Distributions to noncontrolling interests — — — (142 ) — (142 ) Preferred stock redemption (143,750 ) — — — — (143,750 ) Issuance of common stock, net (499 ) — — — — (499 ) Dividends paid on common and preferred stock (325,220 ) — — — — (325,220 ) Distribution to parent — (5,457 ) — (5,457 ) 10,914 — Intercompany financing — 319,268 — 299,873 (619,141 ) — Net cash (used in) provided by financing activities (469,469 ) 294,416 — 153,936 (608,227 ) (629,344 ) Net decrease in cash, cash equivalents and restricted cash (470,835 ) — — (56,417 ) — (527,252 ) Effect of foreign currency translation on cash, cash equivalents and restricted cash — — — (539 ) — (539 ) Cash, cash equivalents and restricted cash, beginning of period 511,670 — — 75,779 — 587,449 Cash, cash equivalents and restricted cash, end of period $ 40,835 $ — $ — $ 18,823 $ — $ 59,658 (1) The Parent Company guarantees the 2024 Notes, the 2026 Notes and the 2029 Notes. (2) The Operating Partnership is the issuer of the 2024 Notes, the 2026 Notes and the 2029 Notes. (3) Sabra Health Care, L.L.C. guarantees the 2024 Notes. (4) The Combined Non-Guarantor Subsidiaries of the 2024 Notes consist of the subsidiaries that do not guarantee the 2024 Notes. (5) None of Sabra Health Care, L.L.C. nor the Combined Non-Guarantor Subsidiaries of the 2024 Notes guarantee the 2026 Notes or the 2029 Notes. CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2017 (in thousands) Combined Non-Guarantor Subsidiaries of 2026 Notes and 2029 Notes (5) Parent (1) Operating (2) Sabra Health Care, L.L.C. (3) Combined (4) Elimination Consolidated Net cash provided by operating activities $ 59,640 $ — $ — $ 76,149 $ — $ 135,789 Cash flows from investing activities: Acquisition of real estate — — — (419,905 ) — (419,905 ) Cash received in CCP Merger 77,859 — — — — 77,859 Origination and fundings of loans receivable — — — (17,239 ) — (17,239 ) Origination and fundings of preferred equity investments — — — (2,749 ) — (2,749 ) Additions to real estate (181 ) — — (6,773 ) — (6,954 ) Repayment of loans receivable — — — 32,430 — 32,430 Repayment of preferred equity investments — — — 3,755 — 3,755 Net proceeds from the sales of real estate — — — 150,243 — 150,243 Distribution from subsidiaries 2,474 2,474 — — (4,948 ) — Intercompany financing 168,999 (249,664 ) — — 80,665 — Net cash provided by (used in) investing activities 249,151 (247,190 ) — (260,238 ) 75,717 (182,560 ) Cash flows from financing activities: Net borrowings from revolving credit facility — 253,000 — — — 253,000 Proceeds from term loans — 181,000 — — — 181,000 Principal payments on secured debt — — — (4,145 ) — (4,145 ) Payments of deferred financing costs — (15,337 ) — — — (15,337 ) Payment of contingent consideration — — — (382 ) — (382 ) Distributions to noncontrolling interests — — — (30 ) — (30 ) Issuance of common stock, net 366,800 — — — — 366,800 Dividends paid on common and preferred stock (182,089 ) — — — — (182,089 ) Distribution to parent — (2,474 ) — (2,474 ) 4,948 — Intercompany financing — (168,999 ) — 249,664 (80,665 ) — Net cash provided by financing activities 184,711 247,190 — 242,633 (75,717 ) 598,817 Net increase in cash, cash equivalents and restricted cash 493,502 — — 58,544 — 552,046 Effect of foreign currency translation on cash, cash equivalents and restricted cash — — — 738 — 738 Cash, cash equivalents and restricted cash, beginning of period 18,168 — — 16,497 — 34,665 Cash, cash equivalents and restricted cash, end of period $ 511,670 $ — $ — $ 75,779 $ — $ 587,449 (1) The Parent Company guarantees the 2024 Notes, the 2026 Notes and the 2029 Notes. (2) The Operating Partnership is the issuer of the 2024 Notes, the 2026 Notes and the 2029 Notes. (3) Sabra Health Care, L.L.C. guarantees the 2024 Notes. (4) The Combined Non-Guarantor Subsidiaries of the 2024 Notes consist of the subsidiaries that do not guarantee the 2024 Notes. (5) None of Sabra Health Care, L.L.C. nor the Combined Non-Guarantor Subsidiaries of the 2024 Notes guarantee the 2026 Notes or the 2029 Notes. |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES Environmental As an owner of real estate, the Company is subject to various environmental laws of federal, state and local governments. The Company is not aware of any environmental liability that could have a material adverse effect on its financial condition or results of operations. However, changes in applicable environmental laws and regulations, the uses and conditions of properties in the vicinity of the Company’s properties, the activities of its tenants and other environmental conditions of which the Company is unaware with respect to the properties could result in future environmental liabilities. As of December 31, 2019 , the Company does not expect that compliance with existing environmental laws will have a material adverse effect on the Company’s financial condition and results of operations. Legal Matters From time to time, the Company is party to legal proceedings that arise in the ordinary course of its business. Management is not aware of any legal proceedings where the likelihood of a loss contingency is reasonably possible and the amount or range of reasonably possible losses is material to the Company’s results of operations, financial condition or cash flows. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2019 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | SUBSEQUENT EVENTS The Company evaluates subsequent events up until the date the consolidated financial statements are issued. Dividend Declaration On February 4, 2020 , the Company announced that its board of directors declared a quarterly cash dividend of $0.45 per share of common stock. The dividend will be paid on February 28, 2020 to stockholders of record as of the close of business on February 14, 2020 . |
SCHEDULE II - VALUATION AND QUA
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS | 12 Months Ended |
Dec. 31, 2019 | |
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | |
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS | SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS For the Years Ended December 31, 2019 , 2018 and 2017 (dollars in thousands) Balance at Beginning of Year Charged to Earnings Recoveries Uncollectible Accounts Written-off Balance at End of Year Year ended December 31, 2019 Allowance for doubtful accounts (1) $ 3,706 $ — $ — $ (3,706 ) $ — Straight-line rent receivable allowance (1) 35,778 — — (35,778 ) — Loan loss reserves 1,258 1,238 — (1,932 ) 564 $ 40,742 $ 1,238 $ — $ (41,416 ) $ 564 Year ended December 31, 2018 Allowance for doubtful accounts $ 5,520 $ 986 $ (2,718 ) $ (82 ) $ 3,706 Straight-line rent receivable allowance 12,355 39,646 — (16,223 ) 35,778 Loan loss reserves 97 1,161 — — 1,258 $ 17,972 $ 41,793 $ (2,718 ) $ (16,305 ) $ 40,742 Year ended December 31, 2017 Allowance for doubtful accounts $ 3,693 $ 2,485 $ (385 ) $ (273 ) $ 5,520 Straight-line rent receivable allowance 3,668 10,487 — (1,800 ) 12,355 Loan loss reserves 2,750 4,526 — (7,179 ) 97 $ 10,111 $ 17,498 $ (385 ) $ (9,252 ) $ 17,972 (1) Balances written-off in connection with the adoption of Topic 842 on January 1, 2019. |
SCHEDULE III - REAL ESTATE ASSE
SCHEDULE III - REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION | 12 Months Ended |
Dec. 31, 2019 | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract] | |
SCHEDULE III - REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION | SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION As of December 31, 2019 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Location Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Skilled Nursing/Transitional Care Facilities Forest Hills (SNF) Broken Arrow, OK 100% (4) $ 1,653 $ 11,259 $ 12,912 $ — $ 1,653 $ 9,565 $ 11,218 $ (3,655 ) 1994/2008, 2009/2010, 2015 11/15/10 40 Seminole Estates Seminole, OK 100% — 655 3,527 4,182 — 655 3,167 3,822 (1,126 ) 1987 11/15/10 32 Bedford Hills Bedford, NH 100% 5,782 1,911 12,245 14,156 — 1,911 10,867 12,778 (4,272 ) 1992/2010, 2019 11/15/10 36 The Elms Care Milford, NH 100% — 312 1,679 1,991 — 312 1,334 1,646 (895 ) 1890/2005 11/15/10 20 Missouri River Great Falls, MT 100% 10,366 2,023 16,967 18,990 — 2,023 15,531 17,554 (7,673 ) 1960/1990, 2010 11/15/10 30 Deer Lodge Deer Lodge, MT 100% 3,940 190 3,032 3,222 2 190 2,619 2,809 (1,232 ) 1973 11/15/10 30 Arden House Hamden, CT 100% 17,879 2,250 23,816 26,066 — 2,250 22,119 24,369 (9,913 ) 1973/2008, 2010 11/15/10 28 Lake Drive Henryetta, OK 100% — 160 549 709 — 160 51 211 (42 ) 1968 11/15/10 10 Mineral Springs North Conway, NH 100% 11,593 417 5,352 5,769 — 417 4,642 5,059 (1,832 ) 1988/2009 11/15/10 43 Wolfeboro Wolfeboro, NH 100% 9,765 454 4,531 4,985 — 454 3,827 4,281 (1,383 ) 1984/1986, 1987, 2009 11/15/10 41 Broadmeadow Healthcare Middletown, DE 100% — 1,650 21,730 23,380 — 1,650 21,730 23,380 (5,275 ) 2005 08/01/11 40 Capitol Healthcare Dover, DE 100% — 4,940 15,500 20,440 — 4,940 15,500 20,440 (3,935 ) 1996/2016 08/01/11 40 Pike Creek Healthcare Wilmington, DE 100% — 2,460 25,240 27,700 — 2,460 25,240 27,700 (6,195 ) 2009 08/01/11 40 Renaissance Healthcare Millsboro, DE 100% — 1,640 22,620 24,260 — 1,640 22,620 24,260 (5,660 ) 2008 08/01/11 40 Clara Burke Plymouth Meeting, PA 100% — 2,527 12,453 14,980 179 2,527 12,632 15,159 (3,065 ) 1927/1990, 2007/2016 03/30/12 40 Warrington Warrington, PA 100% — 2,617 11,662 14,279 106 2,617 11,768 14,385 (2,614 ) 1958/2009/2016 03/30/12 40 Ridgecrest Duffield, VA 100% — 509 5,018 5,527 1,333 509 6,351 6,860 (1,687 ) 1981/2013 05/10/12 40 Arbrook Plaza Arlington, TX 100% — 3,783 14,219 18,002 — 3,783 14,219 18,002 (2,895 ) 2002/2012 11/30/12 40 Northgate Plaza Irving, TX 100% — 4,901 10,299 15,200 — 4,901 10,299 15,200 (2,160 ) 2003/2012, 2015 11/30/12 40 Gulf Pointe Plaza Rockport, TX 100% — 1,005 6,628 7,633 — 1,005 6,628 7,633 (1,461 ) 2002/2012, 2018 11/30/12 40 Gateway Senior Living Lincoln, NE 100% — 6,368 29,919 36,287 — 6,368 29,919 36,287 (4,982 ) 1962/1996/2013 02/14/14 40 Legacy Fremont, NE 100% — 615 16,176 16,791 — 615 16,176 16,791 (2,955 ) 2008 02/14/14 40 Pointe Fremont, NE 100% — 615 2,943 3,558 — 615 2,943 3,558 (638 ) 1970/1979/1983/1994 02/14/14 40 Regency South Sioux City, NE 100% — 246 6,206 6,452 — 246 6,206 6,452 (1,380 ) 1962/1968/1975/2000/2004 02/14/14 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Location Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Parkmoor Village Colorado Springs, CO 100% — 430 13,703 14,133 — 430 13,703 14,133 (2,637 ) 1985/2017, 2018 03/05/14 40 Adams PARC Barlesville, OK 100% — 1,332 6,904 8,236 — 1,332 6,904 8,236 (1,121 ) 1989/2019 10/29/14 40 PARCway Oklahoma City, OK 100% — 2,189 23,567 25,756 890 2,189 24,457 26,646 (3,627 ) 1963/1984, 2018, 2019 10/29/14 40 Brookhaven Extensive Care Norman, OK 100% — 869 5,236 6,105 — 869 5,237 6,106 (950 ) 2001/2013, 2019 10/29/14 40 Cadia Healthcare of Hyattsville Hyattsville, MD 100% — 6,343 65,573 71,916 14 6,343 65,587 71,930 (8,890 ) 1950/1976, 2008 06/30/15 40 Cadia Healthcare of Annapolis Annapolis, MD 100% — 1,548 40,773 42,321 103 1,548 40,876 42,424 (5,155 ) 1964/1993, 2012 06/30/15 40 Cadia Healthcare of Wheaton Wheaton, MD 100% — 676 56,897 57,573 22 676 56,919 57,595 (7,050 ) 1966/1991, 2012 06/30/15 40 Cadia Healthcare of Hagerstown Hagerstown, MD 100% — 1,475 56,237 57,712 1,236 1,475 57,473 58,948 (6,536 ) 1953/1975, 2014, 2019 11/25/15 40 Cadia Healthcare of Spring Brook Silver Spring, MD 100% — 963 48,085 49,048 7 963 48,092 49,055 (4,599 ) 1965/2015 07/26/16 40 Andrew Residence Minneapolis, MN 100% — 2,931 6,943 9,874 192 2,931 7,135 10,066 (596 ) 1941/2014, 2019 08/17/17 40 Avamere Riverpark of Eugene Eugene, OR 100% — 2,205 28,700 30,905 2,252 2,205 30,952 33,157 (2,167 ) 1988/2016 08/17/17 40 Avamere Rehab of Lebanon Lebanon, OR 100% — 958 14,176 15,134 — 958 14,176 15,134 (894 ) 1974 08/17/17 40 Avamere Crestview of Portland Portland, OR 100% — 1,791 12,833 14,624 2,761 1,791 15,594 17,385 (1,277 ) 1964/2016 08/17/17 40 Avamere Rehabilitation of King City Tigard, OR 100% — 2,011 11,667 13,678 — 2,011 11,667 13,678 (761 ) 1975 08/17/17 40 Avamere Rehabilitation of Hillsboro Hillsboro, OR 100% — 1,387 14,028 15,415 — 1,387 14,028 15,415 (884 ) 1973 08/17/17 40 Avamere Rehab of Junction City Junction City, OR 100% — 584 7,901 8,485 — 584 7,901 8,485 (517 ) 1966/2015 08/17/17 40 Avamere Rehab of Eugene Eugene, OR 100% — 1,380 14,921 16,301 1,791 1,380 16,712 18,092 (1,260 ) 1966/2016 08/17/17 40 Avamere Rehab of Coos Bay Coos Bay, OR 100% — 829 8,518 9,347 — 829 8,518 9,347 (578 ) 1968 08/17/17 40 Avamere Rehab of Clackamas Gladstone, OR 100% — 792 5,000 5,792 — 792 5,000 5,792 (334 ) 1961 08/17/17 40 Avamere Rehab of Newport Newport, OR 100% — 406 5,001 5,407 — 406 5,001 5,407 (319 ) 1973/2014 08/17/17 40 Avamere Rehab of Oregon City Oregon City, OR 100% — 1,496 12,142 13,638 — 1,496 12,142 13,638 (765 ) 1974 08/17/17 40 Avamere Transitional Care of Puget Sound Tacoma, WA 100% — 1,771 11,595 13,366 15 1,771 11,610 13,381 (852 ) 2017 08/17/17 40 Richmond Beach Rehab Shoreline, WA 100% — 4,703 14,444 19,147 — 4,703 14,444 19,147 (943 ) 1993/2014 08/17/17 40 St. Francis of Bellingham Bellingham, WA 100% — — 15,330 15,330 — — 15,330 15,330 (1,010 ) 1984/2015 08/17/17 40 Avamere Olympic Rehabilitation of Sequim Sequim, WA 100% — 427 4,450 4,877 — 427 4,450 4,877 (352 ) 1974 08/17/17 40 Avamere Heritage Rehabilitation of Tacoma Tacoma, WA 100% — 1,705 4,952 6,657 — 1,705 4,952 6,657 (341 ) 1968 08/17/17 40 Avamere at Pacific Ridge Tacoma, WA 100% — 2,195 1,956 4,151 — 2,195 1,956 4,151 (178 ) 1972/2014 08/17/17 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Location Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Avamere Rehabilitation of Cascade Park Vancouver, WA 100% — 1,782 15,116 16,898 — 1,782 15,116 16,898 (1,031 ) 1991 08/17/17 40 The Pearl at Kruse Way Lake Oswego, OR 100% — 5,947 13,401 19,348 — 5,947 13,401 19,348 (882 ) 2005/2016 08/17/17 40 Avamere at Medford Medford, OR 100% — 2,043 38,485 40,528 2,960 2,043 41,445 43,488 (2,864 ) 1974/2016 08/17/17 40 Avamere Bellingham Healthcare and Rehab Services Bellingham, WA 100% — 2,908 2,058 4,966 — 2,908 2,058 4,966 (182 ) 1972/2015 08/17/17 40 Queen Anne Healthcare Seattle, WA 100% — 2,508 6,401 8,909 — 2,508 6,401 8,909 (427 ) 1970 08/17/17 40 Avamere Transitional Care and Rehab - Boise Boise, ID 100% — 681 9,348 10,029 — 681 9,348 10,029 (623 ) 1979 08/17/17 40 Avamere Transitional Care at Sunnyside Salem, OR 100% — 2,114 15,651 17,765 — 2,114 15,651 17,765 (1,016 ) 1981 08/17/17 40 Avamere Health Services of Rogue Valley Medford, OR 100% — 1,375 23,808 25,183 — 1,375 23,808 25,183 (1,559 ) 1961/2016 08/17/17 40 Avamere Transitional Care and Rehab - Malley Northglenn, CO 100% — 1,662 26,014 27,676 3,258 1,662 29,272 30,934 (2,179 ) 1972/2016 08/17/17 40 Avamere Transitional Care and Rehab - Brighton Brighton, CO 100% — 1,933 11,624 13,557 — 1,933 11,624 13,557 (779 ) 1971 08/17/17 40 Phoenix Rehabilitation Services Phoenix, AZ 100% — 1,270 11,502 12,772 — 1,270 11,502 12,772 (726 ) 2008 08/17/17 40 Tustin Subacute Care Facility Santa Ana, CA 100% — 1,889 11,682 13,571 — 1,889 11,682 13,571 (717 ) 2008 08/17/17 40 La Mesa Inpatient Rehabilitation Facility La Mesa, CA 100% — 1,276 8,177 9,453 — 1,276 8,177 9,453 (522 ) 2012 08/17/17 40 Golden Living Center - Westminster Westminster, MD 100% — 2,128 6,614 8,742 487 2,128 7,101 9,229 (630 ) 1973/2010, 2019 08/17/17 40 Maple Wood Care Center Kansas City, MO 100% — 1,142 3,226 4,368 653 1,142 3,879 5,021 (539 ) 1983 08/17/17 40 Garden Valley Nursing & Rehab Kansas City, MO 100% — 1,985 2,714 4,699 303 1,985 3,017 5,002 (490 ) 1983 08/17/17 40 Worthington Nursing & Rehab Parkersburg, WV 100% — 697 10,688 11,385 285 697 10,973 11,670 (892 ) 1974/1999, 2019 08/17/17 40 Burlington House Rehabilitative and Alzheimer’s Care Center Cincinnati, OH 100% — 2,686 10,062 12,748 — 2,686 10,062 12,748 (758 ) 1989/2015 08/17/17 40 Golden Living Center - Charlottesville Charlottesville, VA 100% — 2,840 8,450 11,290 1,157 2,840 9,607 12,447 (769 ) 1964/2009, 2019 08/17/17 40 Golden Living Center - Sleepy Hollow Annandale, VA 100% — 7,241 17,727 24,968 1,806 7,241 19,533 26,774 (1,405 ) 1963/2013, 2019 08/17/17 40 Golden Living Center - Petersburg Petersburg, VA 100% — 988 8,416 9,404 146 988 8,562 9,550 (641 ) 1970/2009 08/17/17 40 Golden Living Center - Battlefield Park Petersburg, VA 100% — 1,174 8,858 10,032 151 1,174 9,009 10,183 (664 ) 1976/2010 08/17/17 40 Golden Living Center - Hagerstown Hagerstown, MD 100% — 1,393 13,438 14,831 150 1,393 13,588 14,981 (959 ) 1971/2010 08/17/17 40 Golden Living Center - Cumberland Cumberland, MD 100% — 800 16,973 17,773 457 800 17,430 18,230 (1,219 ) 1968 08/17/17 40 Gilroy Healthcare and Rehabilitation Center Gilroy, CA 100% — 662 23,775 24,437 — 662 23,775 24,437 (1,482 ) 1968 08/17/17 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Location Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired North Cascades Health and Rehabilitation Center Bellingham, WA 100% — 1,437 14,196 15,633 — 1,437 14,196 15,633 (926 ) 1999 08/17/17 40 Granite Rehabilitation & Wellness Cheyenne, WY 100% — 387 13,613 14,000 2,246 387 15,859 16,246 (1,170 ) 1967/2017 08/17/17 40 Rawlins Rehabilitation & Wellness Rawlins, WY 100% — 281 6,007 6,288 — 281 6,007 6,288 (389 ) 1967 08/17/17 40 Wind River Rehabilitation & Wellness Riverton, WY 100% — 199 11,398 11,597 — 199 11,398 11,597 (720 ) 1967 08/17/17 40 Sage View Care Center Rock Springs, WY 100% — 420 8,665 9,085 — 420 8,665 9,085 (571 ) 1964/2017 08/17/17 40 Shelton Health and Rehabilitation Center Shelton, WA 100% — 415 8,965 9,380 — 415 8,965 9,380 (629 ) 1998 08/17/17 40 Dundee Nursing Home Bennettsville, SC 100% — 1,437 4,631 6,068 — 1,437 4,631 6,068 (334 ) 1958 08/17/17 40 Mt. Pleasant Nursing Center Mount Pleasant, SC 100% — 2,689 3,942 6,631 — 2,689 3,942 6,631 (302 ) 1977/2015 08/17/17 40 Tri-State Comp Care Center Harrogate, TN 100% — 1,811 4,963 6,774 — 1,811 4,963 6,774 (388 ) 1990/2005 08/17/17 40 Epic-Conway Conway, SC 100% — 1,408 10,784 12,192 — 1,408 10,784 12,192 (758 ) 1975 08/17/17 40 Epic- Bayview Beaufort, SC 100% — 1,842 11,389 13,231 — 1,842 11,389 13,231 (777 ) 1970 08/17/17 40 Focused Care at Baytown Baytown, TX 100% — 479 6,351 6,830 209 479 6,456 6,935 (451 ) 1970/2019 08/17/17 40 Focused Care at Allenbrook Baytown, TX 100% — 426 3,236 3,662 173 426 3,371 3,797 (297 ) 1975/2019 08/17/17 40 Focused Care at Huntsville Huntsville, TX 100% — 302 3,153 3,455 75 302 3,200 3,502 (250 ) 1968/2019 08/17/17 40 Focused Care at Center Center, TX 100% — 231 1,335 1,566 312 231 1,555 1,786 (174 ) 1972/2019 08/17/17 40 Focused Care at Humble Humble, TX 100% — 2,114 1,643 3,757 596 2,114 2,099 4,213 (268 ) 1972/2019 08/17/17 40 Focused Care at Beechnut Houston, TX 100% — 1,019 5,734 6,753 318 1,019 5,876 6,895 (436 ) 1982/2019 08/17/17 40 Focused Care at Linden Linden, TX 100% — 112 256 368 133 112 331 443 (57 ) 1968/2019 08/17/17 40 Focused Care at Sherman Sherman, TX 100% — 469 6,310 6,779 255 469 6,400 6,869 (463 ) 1971/2019 08/17/17 40 Focused Care at Mount Pleasant Mount Pleasant, TX 100% — 250 6,913 7,163 345 250 7,249 7,499 (532 ) 1970/2019 08/17/17 40 Focused Care at Waxahachie Waxahachie, TX 100% — 416 7,259 7,675 205 416 7,412 7,828 (539 ) 1976/2019 08/17/17 40 Focused Care at Gilmer Gilmer, TX 100% — 707 4,552 5,259 93 707 4,605 5,312 (352 ) 1990/2019 08/17/17 40 Hearthstone of Northern Nevada Sparks, NV 100% — 1,986 9,004 10,990 — 1,986 9,004 10,990 (631 ) 1988 08/17/17 40 Sunset Hills Healthcare and Rehabilitation Center St. Louis, MO 100% — 1,595 5,822 7,417 — 966 3,157 4,123 — 1954/2016 08/17/17 40 Mountainview Specialty Care Center Greensburg, PA 100% — 549 9,926 10,475 — 549 9,926 10,475 (824 ) 1971/2016 08/17/17 40 Golden Living Center - Richmond Richmond, IN 100% — 259 9,819 10,078 — 259 9,819 10,078 (655 ) 1975 08/17/17 40 Golden Living Center - Petersburg Petersburg, IN 100% — 581 5,367 5,948 — 581 5,367 5,948 (383 ) 1970/2009 08/17/17 40 Beverly Health - Ft. Pierce Fort Pierce, FL 100% — 787 16,648 17,435 — 787 16,648 17,435 (1,067 ) 1960/2011 08/17/17 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Location Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Maryville Maryville, MO 100% — 114 5,955 6,069 — 150 5,955 6,105 (437 ) 1972 08/17/17 40 Ashland Healthcare Ashland, MO 100% — 765 2,669 3,434 — 765 2,669 3,434 (210 ) 1993 08/17/17 40 Bellefontaine Gardens St. Louis, MO 100% — 2,071 5,739 7,810 — 2,071 5,739 7,810 (451 ) 1988/1991 08/17/17 40 Current River Nursing Center Doniphan, MO 100% — 657 8,251 8,908 — 657 8,251 8,908 (571 ) 1991 08/17/17 40 Dixon Nursing & Rehab Dixon, MO 100% — 521 3,358 3,879 — 521 3,358 3,879 (252 ) 1989/2011 08/17/17 40 Forsyth Nursing & Rehab Forsyth, MO 100% — 594 8,549 9,143 — 594 8,549 9,143 (601 ) 1993/2007 08/17/17 40 Glenwood Healthcare Seymour, MO 100% — 658 901 1,559 — 658 901 1,559 (88 ) 1990 08/17/17 40 Silex Community Care Silex, MO 100% — 807 4,990 5,797 — 807 4,990 5,797 (356 ) 1991 08/17/17 40 South Hampton Place Columbia, MO 100% — 2,322 6,547 8,869 — 2,322 6,547 8,869 (474 ) 1994 08/17/17 40 Strafford Care Center Strafford, MO 100% — 1,634 6,518 8,152 — 1,634 6,518 8,152 (462 ) 1995 08/17/17 40 Windsor Healthcare & Rehab Windsor, MO 100% — 471 6,819 7,290 — 471 6,819 7,290 (438 ) 1996 08/17/17 40 Park Manor of Conroe Conroe, TX 100% — 1,222 19,099 20,321 — 1,222 19,099 20,321 (1,198 ) 2001 08/17/17 40 Park Manor of Cypress Station Houston, TX 100% — 1,334 11,615 12,949 — 1,334 11,615 12,949 (759 ) 2003/2013 08/17/17 40 Park Manor of Humble Humble, TX 100% — 1,541 12,332 13,873 645 1,541 12,977 14,518 (870 ) 2003/2019 08/17/17 40 Park Manor of Quail Valley Missouri City, TX 100% — 1,825 9,681 11,506 — 1,825 9,681 11,506 (657 ) 2005 08/17/17 40 Park Manor of Westchase Houston, TX 100% — 2,676 7,396 10,072 — 2,676 7,396 10,072 (514 ) 2005 08/17/17 40 Park Manor of CyFair Houston, TX 100% — 1,732 12,921 14,653 — 1,732 12,921 14,653 (838 ) 1999 08/17/17 40 Park Manor of McKinney McKinney, TX 100% — 1,441 9,017 10,458 — 1,441 9,017 10,458 (638 ) 1993/2012 08/17/17 40 Tanglewood Health and Rehabilitation Topeka, KS 100% — 176 2,340 2,516 — 176 2,340 2,516 (175 ) 1973/2013 08/17/17 40 Smoky Hill Health and Rehabilitation Salina, KS 100% — 301 4,201 4,502 — 301 4,201 4,502 (300 ) 1981 08/17/17 40 Belleville Health Center Belleville, KS 100% — 600 1,664 2,264 — 600 1,664 2,264 (149 ) 1977 08/17/17 40 Westridge Healthcare Center Terre Haute, IN 100% — 1,067 7,061 8,128 — 1,067 7,061 8,128 (474 ) 1965/1984 08/17/17 40 Willow Bend Living Center Muncie, IN 100% — 1,168 9,562 10,730 — 1,168 9,562 10,730 (612 ) 1976/1986 08/17/17 40 Twin City Healthcare Gas City, IN 100% — 345 8,852 9,197 — 345 8,852 9,197 (566 ) 1974 08/17/17 40 Pine Knoll Rehabilitation Center Winchester, IN 100% — 711 5,554 6,265 — 711 5,554 6,265 (374 ) 1986/1998 08/17/17 40 Willow Crossing Health & Rehab Center Columbus, IN 100% — 1,290 10,714 12,004 — 1,290 10,714 12,004 (688 ) 1988/2004 08/17/17 40 Persimmon Ridge Center Portland, IN 100% — 315 9,848 10,163 — 315 9,848 10,163 (642 ) 1964 08/17/17 40 Vermillion Convalescent Center Clinton, IN 100% — 884 9,839 10,723 — 884 9,839 10,723 (674 ) 1971 08/17/17 40 Las Vegas Post Acute & Rehabilitation Las Vegas, NV 100% — 509 18,216 18,725 — 509 18,216 18,725 (1,118 ) 1964 08/17/17 40 Torey Pines Rehabilitation Hospital Las Vegas, NV 100% — 3,169 7,863 11,032 — 3,169 7,863 11,032 (544 ) 1972/1997 08/17/17 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Location Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Villa Campana Rehabilitation Hospital Tucson, AZ 100% — 1,800 4,387 6,187 — 1,800 4,387 6,187 (352 ) 1983/2011 08/17/17 40 Kachina Point Rehabilitation Hospital Sedona, AZ 100% — 2,035 10,981 13,016 — 2,035 10,981 13,016 (770 ) 1984/2011 08/17/17 40 Bay View Rehabilitation Hospital Alameda, CA 100% — 3,078 22,328 25,406 — 3,078 22,328 25,406 (1,402 ) 1967 08/17/17 40 Dover Center for Health & Rehabilitation Dover, NH 100% — 522 5,839 6,361 — 522 5,839 6,361 (510 ) 1969/1992, 2017 08/17/17 40 Augusta Center for Health & Rehabilitation Augusta, ME 100% — 135 6,470 6,605 — 135 6,470 6,605 (444 ) 1967 08/17/17 40 Eastside Center for Health & Rehabilitation Bangor, ME 100% — 302 1,811 2,113 632 302 2,443 2,745 (147 ) 1967/1993, 2019 08/17/17 40 Winship Green Center for Health & Rehabilitation Bath, ME 100% — 250 1,934 2,184 — 250 1,934 2,184 (148 ) 1974 08/17/17 40 Brewer Center for Health & Rehabilitation Brewer, ME 100% — 177 14,497 14,674 944 177 15,441 15,618 (967 ) 1974/1990, 2019 08/17/17 40 Kennebunk Center for Health & Rehabilitation Kennebunk, ME 100% — 198 6,822 7,020 — 198 6,822 7,020 (461 ) 1977 08/17/17 40 Norway Center for Health & Rehabilitation Norway, ME 100% — 791 3,680 4,471 — 791 3,680 4,471 (269 ) 1976 08/17/17 40 Brentwood Center for Health & Rehabilitation Yarmouth, ME 100% — 134 2,072 2,206 — 134 2,072 2,206 (163 ) 1952 08/17/17 40 Country Center for Health & Rehabilitation Newburyport, MA 100% — 269 4,436 4,705 12 269 4,448 4,717 (403 ) 1968/2009 08/17/17 40 Sachem Center for Health & Rehabilitation E. Bridgewater, MA 100% — 447 1,357 1,804 — 447 1,357 1,804 (151 ) 1968 08/17/17 40 Eliot Center for Health & Rehabilitation Natick, MA 100% — 475 1,491 1,966 — 475 1,491 1,966 (143 ) 1964 08/17/17 40 The Reservoir Center for Health & Rehabilitation Marlborough, MA 100% — 942 1,541 2,483 8,697 942 10,238 11,180 (547 ) 1973/2018 08/17/17 40 Newton Wellesley Center for Alzheimer’s Care Wellesley, MA 100% — 1,186 13,917 15,103 — 1,186 13,917 15,103 (894 ) 1971 08/17/17 40 Colony Center for Health & Rehabilitation Abington, MA 100% — 1,727 2,103 3,830 19 1,727 2,122 3,849 (188 ) 1965 08/17/17 40 Westgate Center for Rehab & Alzheimer’s Care Bangor, ME 100% — 229 7,171 7,400 10 229 7,181 7,410 (501 ) 1969/1993 08/17/17 40 New Orange Hills Orange, CA 100% — 4,163 14,755 18,918 — 4,163 14,755 18,918 (973 ) 1987 08/17/17 40 Millbrook Healthcare & Rehabilitation Center Lancaster, TX 100% — 548 5,794 6,342 — 548 5,794 6,342 (420 ) 2008 08/17/17 40 Pleasant Valley Health & Rehab Garland, TX 100% — 1,118 7,490 8,608 — 1,118 7,490 8,608 (517 ) 2008 08/17/17 40 Focused Care at Clarksville Clarksville, TX 100% — 279 4,269 4,548 100 279 4,369 4,648 (338 ) 1989/2019 08/17/17 40 McKinney Healthcare & Rehab McKinney, TX 100% — 1,272 6,047 7,319 — 1,272 6,047 7,319 (448 ) 2006 08/17/17 40 Golden Living Center - Hopkins Hopkins, MN 100% — 807 4,668 5,475 530 807 5,198 6,005 (423 ) 1961/2008, 2019 08/17/17 40 Golden Living Center - Village Gardens Green Bay, WI 100% — 1,299 1,247 2,546 — 1,299 1,247 2,546 (142 ) 1965/2012 08/17/17 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Location Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Golden Living Center - Florence Florence, WI 100% — 291 3,778 4,069 — 291 3,778 4,069 (293 ) 1970 08/17/17 40 Golden Living Center - South Shore St. Francis, WI 100% — 166 1,887 2,053 — 166 1,887 2,053 (152 ) 1960/1997 08/17/17 40 Golden Living Center - Rochester East Rochester, MN 100% — 645 7,067 7,712 178 645 7,245 7,890 (489 ) 1967/2011, 2019 08/17/17 40 Golden Living Center - Wisconsin Dells Wisconsin Dells, WI 100% — 1,640 1,599 3,239 — 1,640 1,599 3,239 (167 ) 1972/2006 08/17/17 40 Golden Living Center - Sheboygan Sheboygan, WI 100% — 1,038 2,839 3,877 — 1,038 2,839 3,877 (251 ) 1967/2012 08/17/17 40 Golden Living Center - Hendersonville Hendersonville, NC 100% — 1,611 3,503 5,114 — 1,611 3,503 5,114 (285 ) 1979 08/17/17 40 Focused Care at Corpus Corpus Christi, TX 100% — 366 6,961 7,327 91 51 1,025 1,076 (152 ) 1973/2010 08/17/17 40 Focused Care at Burnet Bay Baytown, TX 100% — 579 22,317 22,896 28 579 22,345 22,924 (1,409 ) 2000/2013 08/17/17 40 Focused Care at Cedar Bayou Baytown, TX 100% — 589 20,475 21,064 35 589 20,510 21,099 (1,336 ) 2008 08/17/17 40 Focused Care at Westwood Houston, TX 100% — 1,300 13,353 14,653 — 1,300 13,353 14,653 (906 ) 2006 08/17/17 40 Focused Care at Pasadena Pasadena, TX 100% — 1,148 23,579 24,727 — 1,148 23,579 24,727 (1,515 ) 2004 08/17/17 40 Focused Care at Webster Webster, TX 100% — 904 10,315 11,219 — 904 10,315 11,219 (716 ) 2000/2009 08/17/17 40 Focused Care at Summer Place Beaumont, TX 100% — 945 20,424 21,369 18 945 20,442 21,387 (1,296 ) 2009 08/17/17 40 Focused Care at Orange Orange, TX 100% — 711 10,737 11,448 16 711 10,753 11,464 (711 ) 2006 08/17/17 40 Cypress Glen Port Arthur, TX 100% — 1,209 13,444 14,653 — 90 814 904 — 2000/2008 08/17/17 40 Signature Healthcare of Whitesburg Gardens Huntsville, AL 100% — 634 28,071 28,705 — 634 28,071 28,705 (1,735 ) 1968/2012 08/17/17 40 Signature Healthcare of Terre Haute Terre Haute, IN 100% — 644 37,451 38,095 — 644 37,451 38,095 (2,601 ) 1996/2013 08/17/17 40 Signature Healthcare at Larkin Springs Madison, TN 100% — 902 3,850 4,752 — 902 3,850 4,752 (325 ) 1969/2016 08/17/17 40 Signature Healthcare of Savannah Savannah, GA 100% — 1,235 3,765 5,000 — 1,235 3,765 5,000 (334 ) 1970/2015 08/17/17 40 Signature Healthcare of Bluffton Bluffton, IN 100% — 254 5,105 5,359 — 254 5,105 5,359 (384 ) 1970 08/17/17 40 Signature Healthcare of Bowling Green Bowling Green, KY 100% — 280 13,975 14,255 — 280 13,975 14,255 (955 ) 1970/2015 08/17/17 40 Oakview Nursing and Rehabilitation Center Calvert City, KY 100% — 1,176 7,012 8,188 — 1,176 7,012 8,188 (509 ) 1962/2015 08/17/17 40 Fountain Circle Care and Rehabilitation Center Winchester, KY 100% — 554 13,207 13,761 — 554 13,207 13,761 (921 ) 1967/2015 08/17/17 40 Riverside Care & Rehabilitation Center Calhoun, KY 100% — 613 7,643 8,256 — 613 7,643 8,256 (570 ) 1963/2015 08/17/17 40 Signature Healthcare of Bremen Bremen, IN 100% — 173 7,393 7,566 — 173 7,393 7,566 (504 ) 1982/2015 08/17/17 40 Signature Healthcare of Muncie Muncie, IN 100% — 374 27,429 27,803 — 374 27,429 27,803 (1,733 ) 1980/2013 08/17/17 40 Signature Healthcare at Parkwood Lebanon, IN 100% — 612 11,755 12,367 — 612 11,755 12,367 (787 ) 1977/2012 08/17/17 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Location Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Signature Healthcare at Tower Road Marietta, GA 100% — 364 16,116 16,480 — 364 16,116 16,480 (1,106 ) 1969/2015 08/17/17 40 Danville Centre for Health and Rehabilitation Danville, KY 100% — 790 9,356 10,146 — 790 9,356 10,146 (753 ) 1962/2015 08/17/17 40 Signature Healthcare at Hillcrest Owensboro, KY 100% — 1,048 22,587 23,635 — 1,048 22,587 23,635 (1,483 ) 1963/2011 08/17/17 40 Signature Healthcare of Elizabethtown Elizabethtown, KY 100% — 239 4,853 5,092 — 239 4,853 5,092 (357 ) 1969 08/17/17 40 Signature Healthcare of Primacy Memphis, TN 100% — 1,633 9,371 11,004 — 1,633 9,371 11,004 (674 ) 1981/2015 08/17/17 40 Signature Healthcare of Harbour Pointe Norfolk, VA 100% — 705 16,451 17,156 — 705 16,451 17,156 (1,222 ) 1969/2015 08/17/17 40 Harrodsburg Health & Rehabilitation Center Harrodsburg, KY 100% — 1,049 9,851 10,900 — 1,049 9,851 10,900 (754 ) 1975/2016 08/17/17 40 Signature Healthcare of Putnam County Cookeville, TN 100% — 1,034 15,555 16,589 — 1,034 15,555 16,589 (1,045 ) 1979/2016 08/17/17 40 Signature Healthcare of Fayette County Washington Court House, OH 100% — 405 4,839 5,244 — 405 4,839 5,244 (385 ) 1984/2015 08/17/17 40 Signature Healthcare of Warren Warren, OH 100% — 955 5,260 6,215 — 955 5,260 6,215 (489 ) 1967/2015 08/17/17 40 Signature Healthcare of Galion Galion, OH 100% — 836 668 1,504 — 836 668 1,504 (86 ) 1967/1985 08/17/17 40 Signature Healthcare of Roanoke Rapids Roanoke Rapids, NC 100% — 373 10,308 10,681 — 373 10,308 10,681 (761 ) 1967/2015 08/17/17 40 Signature Healthcare of Kinston Kinston, NC 100% — 954 7,987 8,941 — 954 7,987 8,941 (662 ) 1960/2015 08/17/17 40 Signature Healthcare of Chapel Hill Chapel Hill, NC 100% — 809 2,703 3,512 302 809 3,005 3,814 (321 ) 1984/2015 08/17/17 40 Signature Healthcare of Chillicothe Chillicothe, OH 100% — 260 8,924 9,184 — 260 8,924 9,184 (681 ) 1974/2015 08/17/17 40 Signature Healthcare of Coshocton Coshocton, OH 100% — 374 2,530 2,904 — 374 2,530 2,904 (261 ) 1974/2015 08/17/17 40 McCreary Health & Rehabilitation Center Pine Knot, KY 100% — 208 7,665 7,873 — 208 7,665 7,873 (532 ) 1990 08/17/17 40 Colonial Health & Rehabilitation Center Bardstown, KY 100% — 634 4,094 4,728 — 634 4,094 4,728 (332 ) 1968/2010 08/17/17 40 Glasgow Health & Rehabilitation Center Glasgow, KY 100% — 83 2,057 2,140 — 83 2,057 2,140 (202 ) 1968 08/17/17 40 Green Valley Health & Rehabilitation Center Carrollton, KY 100% — 124 1,693 1,817 — 124 1,693 1,817 (174 ) 1978/2016 08/17/17 40 Hart County Health & Rehabilitation Horse Cave, KY 100% — 208 7,070 7,278 — 208 7,070 7,278 (536 ) 1993 08/17/17 40 Heritage Hall Health & Rehabilitation Center Lawrenceburg, KY 100% — 635 9,861 10,496 — 635 9,861 10,496 (694 ) 1973 08/17/17 40 Jackson Manor Annville, KY 100% — 479 6,078 6,557 — 479 6,078 6,557 (419 ) 1989 08/17/17 40 Jefferson Manor Louisville, KY 100% — 3,528 4,653 8,181 — 3,528 4,653 8,181 (402 ) 1982/2012 08/17/17 40 Jefferson Place Louisville, KY 100% — 2,207 20,733 22,940 — 2,207 20,733 22,940 (1,349 ) 1991/2010 08/17/17 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Location Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Monroe Health & Rehabilitation Center Tompkinsville, KY 100% — 333 9,556 9,889 — 333 9,556 9,889 (665 ) 1969 08/17/17 40 North Hardin Health & Rehabilitation Center Radcliff, KY 100% — 1,815 7,470 9,285 — 1,815 7,470 9,285 (659 ) 1986 08/17/17 40 Professional Care Health & Rehabilitation Center Hartford, KY 100% — 312 8,189 8,501 — 312 8,189 8,501 (582 ) 1967 08/17/17 40 Rockford Health & Rehabilitation Center Louisville, KY 100% — 427 6,003 6,430 — 427 6,003 6,430 (455 ) 1975/2005 08/17/17 40 Summerfield Health & Rehabilitation Center Louisville, KY 100% — 1,134 9,166 10,300 — 1,134 9,166 10,300 (712 ) 1979/2013 08/17/17 40 Tanbark Senior Living Lexington, KY 100% — 2,558 4,311 6,869 — 2,558 4,311 6,869 (365 ) 1989 08/17/17 40 Summit Manor Health & Rehabilitation Center Columbia, KY 100% — 114 11,141 11,255 — 114 11,141 11,255 (759 ) 1965 08/17/17 40 Belle View Estates Rehabilitation and Care Center Monticello, AR 100% — 206 3,179 3,385 — 206 3,179 3,385 (259 ) 1995 08/17/17 40 River Chase Rehabilitation and Care Center Morrilton, AR 100% — 508 — 508 — 508 — 508 — 1988/2019 08/17/17 40 Heartland Rehabilitation and Care Center Benton, AR 100% — 1,336 7,386 8,722 — 1,336 7,386 8,722 (550 ) 1992 08/17/17 40 River Ridge Rehabilitation and Care Center Wynne, AR 100% — 227 4,007 4,234 — 227 4,007 4,234 (301 ) 1990 08/17/17 40 Brookridge Cove Rehabilitation and Care Center Morrilton, AR 100% — 412 2,642 3,054 — 412 2,642 3,054 (244 ) 1996 08/17/17 40 Southern Trace Rehabilitation and Care Center Bryant, AR 100% — 819 8,938 9,757 — 819 8,938 9,757 (593 ) 1989/2015 08/17/17 40 Lake Village Rehabilitation and Care Center Lake Village, AR 100% — 507 4,838 5,345 — 507 4,838 5,345 (369 ) 1998 08/17/17 40 Savannah Specialty Care Center Savannah, GA 100% — 2,194 11,711 13,905 — 2,194 11,711 13,905 (766 ) 1972 08/17/17 40 Pettigrew Rehabilitation Center Durham, NC 100% — 470 9,633 10,103 — 470 9,633 10,103 (624 ) 1968/2006 08/17/17 40 Sunnybrook Rehabilitation Center Raleigh, NC 100% — 1,155 11,749 12,904 — 1,155 11,749 12,904 (780 ) 1971 08/17/17 40 Raleigh Rehabilitation Center Raleigh, NC 100% — 926 17,649 18,575 — 926 17,649 18,575 (1,151 ) 1967/2007 08/17/17 40 Cypress Pointe Rehabilitation Center Wilmington, NC 100% — 611 5,051 5,662 — 611 5,051 5,662 (374 ) 1966/2013 08/17/17 40 Silas Creek Rehabilitation Center Winston-Salem, NC 100% — 879 3,283 4,162 — 879 3,283 4,162 (277 ) 1965 08/17/17 40 Lincolnton Rehabilitation Center Lincolnton, NC 100% — — 9,967 9,967 — — 9,967 9,967 (664 ) 1976 08/17/17 40 Rehabilitation and Nursing Center of Monroe Monroe, NC 100% — 166 5,906 6,072 — 166 5,906 6,072 (438 ) 1963/2005 08/17/17 40 Guardian Care of Zebulon Zebulon, NC 100% — 594 8,559 9,153 — 594 8,559 9,153 (548 ) 1973/2010 08/17/17 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Location Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Guardian Care of Rocky Mount Rocky Mount, NC 100% — — 18,314 18,314 — — 18,314 18,314 (1,151 ) 1975 08/17/17 40 San Pedro Manor San Antonio, TX 100% — 671 2,504 3,175 — 671 2,504 3,175 (211 ) 1986 08/17/17 40 Park Manor Health Care & Rehabilitation DeSoto, TX 100% — 942 6,033 6,975 — 942 6,033 6,975 (440 ) 1987 08/17/17 40 Avalon Place - Trinity Trinity, TX 100% — 363 3,852 4,215 — 363 3,852 4,215 (303 ) 1985/2019 08/17/17 40 Avalon Place - Kirbyville Kirbyville, TX 100% — 208 5,809 6,017 — 208 5,809 6,017 (437 ) 1987 08/17/17 40 Heritage House of Marshall Marshall, TX 100% — 732 4,288 5,020 — 732 4,288 5,020 (332 ) 2008 08/17/17 40 Autumn Woods Residential Health Care Facility Warren, MI 100% — 2,052 25,539 27,591 — 2,052 25,539 27,591 (1,845 ) 1961/2001 08 |
SCHEDULE IV - MORTGAGE LOANS ON
SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE | 12 Months Ended |
Dec. 31, 2019 | |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract] | |
SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE | SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE As of December 31, 2019 (dollars in thousands) Description Contractual Interest Rate Maturity Date Periodic Payment Terms Prior Liens Principal Balance Book Value (1) Principal Amount of Loans Subject to Delinquent Principal or Interest Mortgages: River Vista 10.0 % 2027 (2) $ — $ 19,000 $ 19,000 N/A Construction Mortgages: Arlington 8.0 2022 (3) — 2,468 2,487 N/A $ — $ 21,468 $ 21,487 (1) The aggregate cost for federal income tax purposes was $21.6 million as of December 31, 2019 . (2) Interest is due monthly, and principal is due at the maturity date. (3) Interest and principal for the first 36 months is deferred and due at the maturity date. Interest after the first 36 months is due monthly. Changes in mortgage loans are summarized as follows: Year Ended December 31, 2019 2018 2017 Balance at the beginning of the year $ 23,146 $ 16,033 $ 39,026 Additions during period: Draws 1,689 10,943 1,738 New mortgage loans — — 12,987 Interest income added to principal 194 1,528 539 Deductions during period: Paydowns/repayments (3,561 ) (5,358 ) (14,570 ) Conversion to real property — — (19,085 ) Write-offs (1) — — (4,602 ) Balance at the end of the year $ 21,468 $ 23,146 $ 16,033 (1) During the year ended December 31, 2017, the Company wrote off uncollectible amounts related to one mortgage loan that was repaid. |
SUMMARY OF SIGNIFICANT ACCOUN_2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Basis of Presentation | The accompanying consolidated financial statements include the accounts of Sabra and its wholly owned subsidiaries as of December 31, 2019 and 2018 and for the years ended December 31, 2019 , 2018 and 2017 . All significant intercompany transactions and balances have been eliminated in consolidation. The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). |
Variable Interest Entities | GAAP requires the Company to identify entities for which control is achieved through voting rights or other means and to determine which business enterprise is the primary beneficiary of variable interest entities (“VIEs”). A VIE is broadly defined as an entity with one or more of the following characteristics: (a) the total equity investment at risk is insufficient to finance the entity’s activities without additional subordinated financial support; (b) as a group, the holders of the equity investment at risk lack (i) the ability to make decisions about the entity’s activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; or (c) the equity investors have voting rights that are not proportional to their economic interests, and substantially all of the entity’s activities either involve, or are conducted on behalf of, an investor that has disproportionately few voting rights. If the Company were determined to be the primary beneficiary of the VIE, the Company would consolidate investments in the VIE. The Company may change its original assessment of a VIE due to events such as modifications of contractual arrangements that affect the characteristics or adequacy of the entity’s equity investments at risk and the disposal of all or a portion of an interest held by the primary beneficiary. The Company identifies the primary beneficiary of a VIE as the enterprise that has both: (i) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance; and (ii) the obligation to absorb losses or the right to receive benefits of the VIE that could be significant to the entity. The Company performs this analysis on an ongoing basis. As of December 31, 2019 , the Company determined that it was no t the primary beneficiary of any VIEs. As it relates to investments in loans, in addition to the Company’s assessment of VIEs and whether the Company is the primary beneficiary of those VIEs, the Company evaluates the loan terms and other pertinent facts to determine whether the loan investment should be accounted for as a loan or as a real estate joint venture. If an investment has the characteristics of a real estate joint venture, including if the Company participates in the majority of the borrower’s expected residual profit, the Company would account for the investment as an investment in a real estate joint venture and not as a loan investment. Expected residual profit is defined as the amount of profit, whether called interest or another name, such as an equity kicker, above a reasonable amount of interest and fees expected to be earned by a lender. At December 31, 2019 and 2018 , none of the Company’s investments in loans were accounted for as real estate joint ventures. As it relates to investments in joint ventures, the Company assesses any limited partners’ rights and their impact on the presumption of control of the limited partnership by any single partner. The Company also applies this guidance to managing member interests in limited liability companies. The Company reassesses its determination of which entity controls the joint venture if: there is a change to the terms or in the exercisability of the rights of any partners or members, the sole general partner or managing member increases or decreases its ownership interests, or there is an increase or decrease in the number of outstanding ownership interests. As of December 31, 2019 , the Company’s determination of which entity controls its investments in joint ventures has not changed as a result of any reassessment. |
Use of Estimates | The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. |
Reclassifications | Certain amounts in the Company’s consolidated statements of income and consolidated statements of cash flows for prior periods have been reclassified to conform to the current period presentation. These reclassifications have not changed the results of operations. |
Real Estate Investments | Real Estate Acquisition Valuation All assets acquired and liabilities assumed in an acquisition of real estate accounted for as a business combination are measured at their acquisition date fair values. For acquisitions of real estate accounted for as an asset acquisition, the fair value of consideration transferred by the Company (including transaction costs) is allocated to all assets acquired and liabilities assumed on a relative fair value basis. The acquisition value of land, building and improvements are included in real estate investments on the accompanying consolidated balance sheets. The acquisition value of above market lease, tenant origination and absorption costs and tenant relationship intangible assets is included in lease intangible assets, net on the accompanying consolidated balance sheets. The acquisition value of below market lease intangible liabilities is included in lease intangible liabilities, net on the accompanying consolidated balance sheets. Acquisition costs associated with real estate acquisitions deemed asset acquisitions are capitalized, and costs associated with real estate acquisitions deemed business combinations are expensed as incurred. The Company capitalized $0.6 million and $0.7 million of acquisition costs during the years ended December 31, 2019 and 2018 , respectively. Restructuring costs that do not meet the definition of a liability at the acquisition date are expensed in periods subsequent to the acquisition date. During the years ended December 31, 2019 , 2018 and 2017 , the Company expensed $0.4 million , $0.6 million and $30.3 million , respectively, of merger and acquisition costs. Estimates of the fair values of the tangible assets, identifiable intangibles and assumed liabilities require the Company to make significant assumptions to estimate market lease rates, property operating expenses, carrying costs during lease-up periods, discount rates, market absorption periods, and the number of years the property will be held for investment. The Company makes its best estimate based on the Company’s evaluation of the specific characteristics of each tenant’s lease. The use of inappropriate assumptions would result in an incorrect valuation of the Company’s acquired tangible assets, identifiable intangibles and assumed liabilities, which would impact the amount of the Company’s net income. Depreciation and Amortization Real estate costs related to the acquisition and improvement of properties are capitalized and amortized on a straight-line basis over the lesser of the expected useful life of the asset and the remaining lease term of any property subject to a ground lease. Tenant improvements are capitalized and amortized on a straight-line basis over the lesser of the expected useful life of the asset and the remaining lease term. Depreciation is discontinued when a property is identified as held for sale. Repair and maintenance costs are charged to expense as incurred and significant replacements and betterments are capitalized. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset. The Company considers the period of future benefit of an asset to determine its appropriate useful life. Depreciation of real estate assets and amortization of tenant origination and absorption costs and tenant relationship lease intangibles are included in depreciation and amortization on the accompanying consolidated statements of income. Amortization of above and below market lease intangibles is included in rental income on the accompanying consolidated statements of income. The Company anticipates the estimated useful lives of its assets by class to be generally as follows: land improvements, five to 20 years; buildings and building improvements, five to 40 years; and furniture and equipment, three to 20 years. Intangibles are generally amortized over the remaining noncancellable lease terms, with tenant relationship intangible amortization periods including extension periods of up to 10 years . Impairment of Real Estate Investments The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate investments may not be recoverable or realized. When indicators of potential impairment suggest that the carrying value of real estate investments may not be recoverable, the Company assesses the recoverability by estimating whether the Company will recover the carrying value of its real estate investments through the undiscounted future cash flows and the eventual disposition of the investment. In some instances, there may be various potential outcomes for an investment and its potential future cash flows. In these instances, the undiscounted future cash flows used to assess recoverability are based on several assumptions and are probability-weighted based on the Company’s best estimates as of the date of evaluation. These assumptions include, among others, cash flow projections, discount rates, market capitalization rates and recent sales data for comparable properties. The assumptions are generally based on management’s experience in its local real estate markets, and the effects of current market conditions, which are subject to economic and market uncertainties. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of its real estate investments, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of its real estate investments. |
Real Estate Investments, Inventory | Real Estate Acquisition Valuation All assets acquired and liabilities assumed in an acquisition of real estate accounted for as a business combination are measured at their acquisition date fair values. For acquisitions of real estate accounted for as an asset acquisition, the fair value of consideration transferred by the Company (including transaction costs) is allocated to all assets acquired and liabilities assumed on a relative fair value basis. The acquisition value of land, building and improvements are included in real estate investments on the accompanying consolidated balance sheets. The acquisition value of above market lease, tenant origination and absorption costs and tenant relationship intangible assets is included in lease intangible assets, net on the accompanying consolidated balance sheets. The acquisition value of below market lease intangible liabilities is included in lease intangible liabilities, net on the accompanying consolidated balance sheets. Acquisition costs associated with real estate acquisitions deemed asset acquisitions are capitalized, and costs associated with real estate acquisitions deemed business combinations are expensed as incurred. The Company capitalized $0.6 million and $0.7 million of acquisition costs during the years ended December 31, 2019 and 2018 , respectively. Restructuring costs that do not meet the definition of a liability at the acquisition date are expensed in periods subsequent to the acquisition date. During the years ended December 31, 2019 , 2018 and 2017 , the Company expensed $0.4 million , $0.6 million and $30.3 million , respectively, of merger and acquisition costs. Estimates of the fair values of the tangible assets, identifiable intangibles and assumed liabilities require the Company to make significant assumptions to estimate market lease rates, property operating expenses, carrying costs during lease-up periods, discount rates, market absorption periods, and the number of years the property will be held for investment. The Company makes its best estimate based on the Company’s evaluation of the specific characteristics of each tenant’s lease. The use of inappropriate assumptions would result in an incorrect valuation of the Company’s acquired tangible assets, identifiable intangibles and assumed liabilities, which would impact the amount of the Company’s net income. Depreciation and Amortization Real estate costs related to the acquisition and improvement of properties are capitalized and amortized on a straight-line basis over the lesser of the expected useful life of the asset and the remaining lease term of any property subject to a ground lease. Tenant improvements are capitalized and amortized on a straight-line basis over the lesser of the expected useful life of the asset and the remaining lease term. Depreciation is discontinued when a property is identified as held for sale. Repair and maintenance costs are charged to expense as incurred and significant replacements and betterments are capitalized. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset. The Company considers the period of future benefit of an asset to determine its appropriate useful life. Depreciation of real estate assets and amortization of tenant origination and absorption costs and tenant relationship lease intangibles are included in depreciation and amortization on the accompanying consolidated statements of income. Amortization of above and below market lease intangibles is included in rental income on the accompanying consolidated statements of income. The Company anticipates the estimated useful lives of its assets by class to be generally as follows: land improvements, five to 20 years; buildings and building improvements, five to 40 years; and furniture and equipment, three to 20 years. Intangibles are generally amortized over the remaining noncancellable lease terms, with tenant relationship intangible amortization periods including extension periods of up to 10 years . Impairment of Real Estate Investments The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate investments may not be recoverable or realized. When indicators of potential impairment suggest that the carrying value of real estate investments may not be recoverable, the Company assesses the recoverability by estimating whether the Company will recover the carrying value of its real estate investments through the undiscounted future cash flows and the eventual disposition of the investment. In some instances, there may be various potential outcomes for an investment and its potential future cash flows. In these instances, the undiscounted future cash flows used to assess recoverability are based on several assumptions and are probability-weighted based on the Company’s best estimates as of the date of evaluation. These assumptions include, among others, cash flow projections, discount rates, market capitalization rates and recent sales data for comparable properties. The assumptions are generally based on management’s experience in its local real estate markets, and the effects of current market conditions, which are subject to economic and market uncertainties. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of its real estate investments, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of its real estate investments. |
Revenue Recognition | Revenue Recognition The Company recognizes rental revenue from tenants, including rental abatements, lease incentives and contractual fixed increases attributable to operating leases, on a straight-line basis over the term of the related leases when it is probable that substantially all rents over the life of a lease are collectible. Certain of the Company’s leases provide for contingent rents equal to a percentage of the facility’s revenue in excess of specified base amounts or other thresholds. Such revenue is recognized when actual results reported by the tenant, or estimates of tenant results, exceed the applicable base amount or other threshold. The Company assesses the collectability of rents on a lease-by-lease basis, and in doing so, considers such things as historical bad debts, tenant creditworthiness, current economic trends, facility operating performance, lease structure, credit enhancements (including guarantees), current developments relevant to a tenant’s business specifically and to its business category generally, and changes in tenants’ payment patterns. The Company’s assessment includes an estimation of a tenant’s ability to fulfill all of its rental obligations over the remaining lease term. In addition, with respect to tenants in bankruptcy, management makes estimates of the expected recovery of pre-petition and post-petition claims in assessing the estimated collectability of the related receivable. If at any time the Company cannot determine that it is probable that substantially all rents over the life of a lease are collectible, rental revenue will be recognized only to the extent of payments received, and all receivables associated with the lease will be written off irrespective of amounts expected to be collectible. Any recoveries of these amounts will be recorded in future periods upon receipt of payment. Write-offs of receivables and any recoveries of previously written-off receivables are recorded as adjustments to rental revenue. Revenue from resident fees and services is recorded monthly as services are provided and includes resident room and care charges, ancillary services charges and other resident charges. |
Assets Held for Sale, DIspositions and Discontinued Operations | The Company generally considers real estate to be “held for sale” when the following criteria are met: (i) management commits to a plan to sell the property, (ii) the property is available for sale immediately, (iii) the property is actively being marketed for sale at a price that is reasonable in relation to its current fair value, (iv) the sale of the property within one year is considered probable and (v) significant changes to the plan to sell are not expected. Real estate that is held for sale and its related assets are classified as assets held for sale and are included in accounts receivable, prepaid expenses and other assets, net on the accompanying consolidated balance sheets. Secured indebtedness and other liabilities related to real estate held for sale are classified as liabilities related to assets held for sale and are included in accounts payable and accrued liabilities on the accompanying consolidated balance sheets. Real estate classified as held for sale is no longer depreciated and is reported at the lower of its carrying value or its estimated fair value less estimated costs to sell. As of December 31, 2019 and 2018 , the Company did no t have any assets held for sale. For sales of real estate where the Company has collected the consideration to which it is entitled in exchange for transferring the real estate, the related assets and liabilities are removed from the balance sheet and the resultant gain or loss is recorded in the period in which the transaction closes. Any post-sale involvement is accounted for as separate performance obligations, and when the separate performance obligations are satisfied, the portion of the sales price allocated to each such obligation is recognized. Additionally, the Company records the operating results related to real estate that has been disposed of or classified as held for sale as discontinued operations for all periods presented if it represents a strategic shift that has or will have a major effect on the Company’s operations and financial results. |
Investment in Unconsolidated Joint Venture and Preferred Equity Investments and Preferred Return | Preferred equity investments are accounted for at unreturned capital contributions, plus accrued and unpaid preferred returns. The Company recognizes preferred return income on a monthly basis based on the outstanding investment including any previously accrued and unpaid return. As a preferred member of the preferred equity joint ventures in which the Company participates, the Company is not entitled to share in the joint venture’s earnings or losses. Rather, the Company is entitled to receive a preferred return, which is deferred if the cash flow of the joint venture is insufficient to currently pay the accrued preferred return. The Company reports investments in unconsolidated entities over whose operating and financial policies it has the ability to exercise significant influence under the equity method of accounting. Under this method of accounting, the Company’s share of the investee’s earnings or losses is included in the Company’s consolidated statements of income. The initial carrying value of the investment is based on the amount paid to purchase the joint venture interest. Differences between the Company’s cost basis and the basis reflected at the joint venture level are generally amortized over the lives of the related assets and liabilities, and such amortization is included in the Company’s share of earnings of the joint venture. The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its equity method investments may not be recoverable or realized. When indicators of potential impairment are identified, the Company evaluates its equity method investments for impairment based on a comparison of the fair value of the investment to its carrying value. The fair value is estimated based on discounted cash flows that include all estimated cash inflows and outflows over a specified holding period and any estimated debt premiums or discounts. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of its equity method investment, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of its equity method investment. |
Net Investment in Direct Financing Lease | As of December 31, 2019 , the Company had a $23.9 million net investment in one skilled nursing/transitional care facility leased to an operator under a direct financing lease, as the tenant is obligated to purchase the property at the end of the lease term. The net investment in direct financing lease is recorded in accounts receivable, prepaid expenses and other assets, net on the accompanying consolidated balance sheets and represents the present value of total rental payments of $4.0 million , plus the estimated unguaranteed residual value of $24.7 million , less the unearned lease income of $4.8 million as of December 31, 2019 |
Loans Receivable and Interest Income | Loans Receivable The Company’s loans receivable are reflected at amortized cost on the accompanying consolidated balance sheets. The amortized cost of a loan receivable is the outstanding unpaid principal balance, net of unamortized discounts, costs and fees directly associated with the origination of the loan. Loans acquired in connection with a business combination are recorded at their acquisition date fair value. The Company determines the fair value of loans receivable based on estimates of expected discounted cash flows, collateral, credit risk and other factors. The Company does not establish a valuation allowance at the acquisition date, as the amount of estimated future cash flows reflects its judgment regarding their uncertainty. The Company recognizes the difference between the acquisition date fair value and the total expected cash flows as interest income using the effective interest method over the life of the applicable loan. The Company immediately recognizes in income any unamortized balances if the loan is repaid before its contractual maturity. On a quarterly basis, the Company evaluates the collectability of its loan portfolio, including related interest income receivable, and establishes a reserve for loan losses. The Company’s evaluation includes reviewing credit quality indicators such as payment status, changes affecting the underlying real estate collateral (for collateral dependent loans), changes affecting the operations of the facilities securing the loans, and national and regional economic factors. The reserve for loan losses is a valuation allowance that reflects management’s estimate of loan losses inherent in the loan portfolio as of the balance sheet date. The reserve is adjusted through provision for doubtful accounts, straight-line rental income and loan losses on the Company’s consolidated statements of income and is decreased by charge-offs to specific loans when losses are confirmed. The reserve for loan losses includes an asset-specific component and a portfolio-based component. An asset-specific reserve relates to reserves for losses on loans considered impaired and interest income receivable that is deemed uncollectible. The Company considers a loan to be impaired when, based upon current information and events, management believes that it is probable that the Company will be unable to collect all amounts due under the contractual terms of the loan agreement resulting from the borrower’s failure to repay contractual amounts due, the granting of a concession by the Company or the expectation that the Company will receive assets with fair values less than the carrying value of the loan in satisfaction of the loan. If a loan is considered to be impaired, a reserve is established when the carrying value of that loan is greater than the present value of payments expected to be received, the observable market prices for similar instruments, the estimated fair value of the collateral (for loans that are dependent on the collateral for repayment) or other amounts expected to be received in satisfaction of the loan. A portfolio-based reserve covers the pool of loans that do not have asset-specific reserves. A provision for loan losses is recorded when available information as of each balance sheet date indicates that it is probable that a loss occurred in the pool of loans and the amount of the loss can be reasonably estimated, but the Company does not know which specific loans within the pool will ultimately result in losses. The required reserve balances for this pool of loans is derived based on estimated probabilities of default and estimated loss severities assuming a default occurs. Interest Income Interest income on the Company’s loans receivable is recognized on an accrual basis over the life of the investment using the interest method. Direct loan origination costs are amortized over the term of the loan as an adjustment to interest income. When concerns exist as to the ultimate collection of principal or interest due under a loan, the loan is placed on nonaccrual status, and the Company will not recognize interest income until the cash is received, or the loan returns to accrual status. If the Company determines that the collection of interest according to the contractual terms of the loan or through the receipts of assets in satisfaction of contractual amounts due is probable, the Company will resume the accrual of interest. In instances where borrowers are in default under the terms of their loans, the Company may continue recognizing interest income provided that all amounts owed under the contractual terms of the loan, including accrued and unpaid interest, do not exceed the estimated fair value of the collateral, less costs to sell. |
Cash and Cash Equivalents | The Company considers all short-term (with an original maturity of three months or less), highly-liquid investments utilized as part of the Company’s cash-management activities to be cash equivalents. Cash equivalents may include cash and short-term investments. Short-term investments are stated at cost, which approximates fair value. The Company’s cash and cash equivalents balance exceeded federally insurable limits as of December 31, 2019 . To date, the Company has experienced no loss or lack of access to cash in its operating accounts. The Company has a corporate banking relationship with Bank of America, N.A. in which it deposits the majority of its cash. |
Restricted Cash | Restricted cash primarily consists of amounts held by an exchange accommodation titleholder or by secured debt lenders to provide for future real estate tax expenditures, tenant improvements and capital expenditures. Pursuant to the terms of the Company’s leases with certain tenants, the Company has assigned its interests in certain of these restricted cash accounts with secured debt lenders to the tenants, and this amount is included in accounts payable and accrued liabilities on the Company’s consolidated balance sheets. |
Stock-Based Compensation | Stock-based compensation expense for stock-based awards granted to Sabra’s employees and its non-employee directors is recognized in the statements of income based on the estimated grant date fair value, as adjusted. Compensation expense for awards with graded vesting schedules is generally recognized ratably over the period from the grant date to the date when the award is no longer contingent on the employee providing additional services. Compensation expense for awards with performance-based vesting conditions is recognized based on the Company’s estimate of the ultimate value of such award after considering the Company’s expectations of future performance. Forfeitures of stock-based awards are recognized as they occur. |
Deferred Financing Costs | Deferred financing costs representing fees paid to third parties are amortized over the terms of the respective financing agreements using the interest method. Deferred financing costs related to secured debt, term loans and senior unsecured notes are recorded as a reduction of the related debt liability, and deferred financing costs related to the revolving credit facility are recorded in accounts receivable, prepaid expenses and other assets, net. Unamortized deferred financing costs are generally expensed when the associated debt is refinanced or repaid before maturity. Costs incurred in seeking financings that do not close are expensed in the period in which it is determined that the financing will not close. |
Income Taxes | The Company elected to be treated as a REIT with the filing of its U.S. federal income tax return for the taxable year beginning January 1, 2011. The Company believes that it has been organized and operated, and it intends to continue to operate, in a manner to qualify as a REIT. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of the Company’s annual REIT taxable income to stockholders (which is computed without regard to the dividends-paid deduction or net capital gains and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax on income that it distributes as dividends to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to U.S. federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost, unless the Internal Revenue Service grants the Company relief under certain statutory provisions. Such an event could materially and adversely affect the Company’s net income and net cash available for distribution to stockholders. However, the Company believes that it is organized and operates in such a manner as to qualify for treatment as a REIT. As a result of certain investments, the Company now records income tax expense or benefit with respect to certain of its entities that are taxed as taxable REIT subsidiaries under provisions similar to those applicable to regular corporations and not under the REIT provisions. The Company accounts for deferred income taxes using the asset and liability method and recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the Company’s financial statements or tax returns. Under this method, the Company determines deferred tax assets and liabilities based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Any increase or decrease in the deferred tax liability that results from a change in circumstances, and that causes a change in the Company’s judgment about expected future tax consequences of events, is included in the tax provision when such changes occur. Deferred income taxes also reflect the impact of operating loss and tax credit carryforwards. A valuation allowance is provided if the Company believes it is more likely than not that all or some portion of the deferred tax asset will not be realized. Any increase or decrease in the valuation allowance that results from a change in circumstances, and that causes a change in the Company’s judgment about the realizability of the related deferred tax asset, is included in the tax provision when such changes occur. The Company evaluates its tax positions using a two step approach: step one (recognition) occurs when the Company concludes that a tax position, based solely on its technical merits, is more likely than not to be sustained upon examination, and step two (measurement) is only addressed if step one has been satisfied (i.e., the position is more likely than not to be sustained). Under step two, the tax benefit is measured as the largest amount of benefit (determined on a cumulative probability basis) that is more likely than not to be realized upon ultimate settlement. The Company will recognize tax penalties relating to unrecognized tax benefits as additional tax expense. |
Foreign Currency | Certain of the Company’s subsidiaries’ functional currencies are the local currencies of their respective foreign jurisdictions. The Company translates the results of operations of its foreign subsidiaries into U.S. dollars using average rates of exchange in effect during the period presented, and it translates balance sheet accounts using exchange rates in effect at the end of the period presented. The Company records resulting currency translation adjustments in accumulated other comprehensive income (loss), a component of stockholders’ equity, on its consolidated balance sheets, and it records foreign currency transaction gains and losses as a component of interest and other income on its consolidated statements of income. |
Derivative Instruments | The Company uses certain types of derivative instruments for the purpose of managing interest rate and currency risk. To qualify for hedge accounting, derivative instruments used for risk management purposes must effectively reduce the risk exposure that they are designed to hedge. In addition, at inception, the Company must make an assessment that the transaction that the Company intends to hedge is probable of occurring, and this assessment must be updated each reporting period. The Company recognizes all derivative instruments as assets or liabilities on the consolidated balance sheets at their fair value. For derivatives designated and qualified as a hedge, the change in fair value of the effective portion of the derivatives is recognized in accumulated other comprehensive income (loss). Changes in the fair value of derivative instruments that are not designated in hedging relationships or that do not meet the criteria for hedge accounting would be recognized in earnings. The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objectives and strategy for undertaking various hedge transactions. This process includes designating all derivatives that are part of a hedging relationship to specific transactions, as well as recognizing obligations or assets on the consolidated balance sheets. The Company also assesses and documents, both at inception of the hedging relationship and on a quarterly basis thereafter, whether the derivatives are highly effective in offsetting the designated risks associated with the respective hedged items. If it is determined that a derivative ceases to be highly effective as a hedge, or that it is probable the underlying transaction will not occur, the Company would discontinue hedge accounting prospectively and record the appropriate adjustment to earnings based on the then-current fair value of the derivative. |
Fair Value Measurements | Under GAAP, the Company is required to measure certain financial instruments at fair value on a recurring basis. In addition, the Company is required to measure other financial instruments and balances at fair value on a non-recurring basis (e.g., carrying value of impaired loans receivable and long-lived assets). Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The GAAP fair value framework uses a three-tiered approach. Fair value measurements are classified and disclosed in one of the following three categories: • Level 1: unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities; • Level 2: quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and • Level 3: prices or valuation techniques where little or no market data is available that requires inputs that are both significant to the fair value measurement and unobservable. When available, the Company utilizes quoted market prices from an independent third-party source to determine fair value and classifies such items as Level 1 or Level 2. In instances where the market for a financial instrument is not active, regardless of the availability of a nonbinding quoted market price, observable inputs might not be relevant and could require the Company to make a significant adjustment to derive a fair value measurement. Additionally, in an inactive market, a market price quoted from an independent third party may rely more on models with inputs based on information available only to that independent third party. When the Company determines the market for a financial instrument owned by the Company to be illiquid or when market transactions for similar instruments do not appear orderly, the Company may use several valuation sources (including internal valuations, discounted cash flow analysis and quoted market prices) to establish a fair value. If more than one valuation source is used, the Company will assign weights to the various valuation sources. Additionally, when determining the fair value of liabilities in circumstances in which a quoted price in an active market for an identical liability is not available, the Company measures fair value using (i) a valuation technique that uses the quoted price of the identical liability when traded as an asset or quoted prices for similar liabilities or similar liabilities when traded as assets or (ii) another valuation technique that is consistent with the principles of fair value measurement, such as the income approach or the market approach. Changes in assumptions or estimation methodologies can have a material effect on these estimated fair values. In this regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, may not be realized in an immediate settlement of the instrument. The Company considers the following factors to be indicators of an inactive market: (i) there are few recent transactions, (ii) price quotations are not based on current information, (iii) price quotations vary substantially either over time or among market makers (for example, some brokered markets), (iv) indexes that previously were highly correlated with the fair values of the asset or liability are demonstrably uncorrelated with recent indications of fair value for that asset or liability, (v) there is a significant increase in implied liquidity risk premiums, yields, or performance indicators (such as delinquency rates or loss severities) for observed transactions or quoted prices when compared with the Company’s estimate of expected cash flows, considering all available market data about credit and other nonperformance risk for the asset or liability, (vi) there is a wide bid-ask spread or significant increase in the bid-ask spread, (vii) there is a significant decline or absence of a market for new issuances (that is, a primary market) for the asset or liability or similar assets or liabilities, and (viii) little information is released publicly (for example, a principal-to-principal market). The fair value for certain financial instruments is derived using a combination of market quotes, pricing models and other valuation techniques that involve significant management judgment. The price transparency of financial instruments is a key determinant of the degree of judgment involved in determining the fair value of the Company’s financial instruments. Financial instruments for which actively quoted prices or pricing parameters are available and whose markets contain orderly transactions will generally have a higher degree of price transparency than financial instruments whose markets are inactive or consist of non-orderly trades. The Company evaluates several factors when determining if a market is inactive or when market transactions are not orderly. The carrying values of cash and cash equivalents, restricted cash, accounts payable, accrued liabilities and the Credit Agreement are reasonable estimates of fair value because of the short-term maturities of these instruments. Fair values for other financial instruments are derived as follows: Loans receivable : These instruments are presented on the accompanying consolidated balance sheets at their amortized cost and not at fair value. The fair values of the loans receivable were estimated using an internal valuation model that considered the expected cash flows for the loans receivable, as well as the underlying collateral value and other credit enhancements as applicable. As such, the Company classifies these instruments as Level 3. Preferred equity investments : These instruments are presented on the accompanying consolidated balance sheets at their cost and not at fair value. The fair values of the preferred equity investments were estimated using an internal valuation model that considered the expected future cash flows for the preferred equity investments, the underlying collateral value and other credit enhancements. As such, the Company classifies these instruments as Level 3. Derivative instruments : The Company’s derivative instruments are presented at fair value on the accompanying consolidated balance sheets. The Company estimates the fair value of derivative instruments, including its interest rate swaps and cross currency swaps, using the assistance of a third party using inputs that are observable in the market, which include forward yield curves and other relevant information. Although the Company has determined that the majority of the inputs used to value its derivative financial instruments fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivative financial instruments utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by itself and its counterparties. The Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its derivative financial instruments. As a result, the Company has determined that its derivative financial instruments valuations in their entirety are classified in Level 2 of the fair value hierarchy. Senior Notes : These instruments are presented on the accompanying consolidated balance sheets at their outstanding principal balance, net of unamortized deferred financing costs and premiums/discounts and not at fair value. The fair values of the Senior Notes were determined using third-party market quotes derived from orderly trades. As such, the Company classifies these instruments as Level 2. Secured indebtedness : These instruments are presented on the accompanying consolidated balance sheets at their outstanding principal balance, net of unamortized deferred financing costs and premiums/discounts and not at fair value. The fair values of the Company’s secured debt were estimated using a discounted cash flow analysis based on management’s estimates of current market interest rates for instruments with similar characteristics, including remaining loan term, loan-to-value ratio, type of collateral and other credit enhancements. As such, the Company classifies these instruments as Level 3. |
Per Share Data | Basic earnings per common share is computed by dividing net income applicable to common stockholders by the weighted average number of shares of common stock and common equivalents outstanding during the period. Diluted earnings per common share is calculated by including the effect of dilutive securities. |
Industry Segments | The Company has one reportable segment consisting of investments in healthcare-related real estate properties. |
Recently Issued Accounting Standards Update | Adopted In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases, as amended by subsequent ASUs (“Topic 842”). Topic 842 supersedes guidance related to accounting for leases and provides for the recognition of lease assets and lease liabilities by lessees for those leases previously classified as operating leases under GAAP. The objective of Topic 842 is to establish the principles that lessees and lessors shall apply to report useful information to users of financial statements about the amount, timing and uncertainty of cash flows arising from a lease. Topic 842 does not fundamentally change lessor accounting; however, some changes have been made to lessor accounting to conform and align that guidance with the lessee guidance and other areas within GAAP. Topic 842 is effective for fiscal years and interim periods within those years beginning after December 15, 2018, with early adoption permitted. The Company elected to adopt Topic 842 on January 1, 2019 using the modified retrospective transition method, which permits application of the new standard on the adoption date as opposed to the earliest comparative period presented in the financial statements. In addition, the Company elected to use the available practical expedient package, and therefore did not reassess classification of its existing leases. Additionally, the Company has elected a practical expedient not to separate lease and nonlease components (such as services rendered), which can only be applied to leasing arrangements for which (i) the timing and pattern of transfer are the same for the lease and nonlease components and (ii) the lease component, if accounted for separately, would be classified as an operating lease. Under this practical expedient, contracts that are predominantly lease-based would be accounted for under Topic 842, and contracts that are predominantly service-based would be accounted for under Topic 606, Revenue from Contracts with Customers. As a result of electing this practical expedient, the Company, beginning January 1, 2019, recognizes revenue from its leased skilled nursing/transitional care facilities, senior housing communities, and specialty hospitals and other facilities under Topic 842 and recognizes revenue from its Senior Housing - Managed communities under the Revenue ASUs (codified under Topic 606). Upon adoption of Topic 842, the Company recognized its operating leases for which it is the lessee, mainly its corporate office lease and ground leases, on its consolidated balance sheets, as a lease liability of $10.0 million , included in accounts payable and accrued liabilities on the condensed consolidated balance sheets, and a corresponding right-of-use asset, included in accounts receivable, prepaid expenses and other assets, net on the condensed consolidated balance sheets. As of December 31, 2019 , the balances of the lease liability and the corresponding right-of-use asset were $9.8 million and $9.3 million , respectively. The Company assesses the collectability of rental revenues on a lease-by-lease basis. Prior to the adoption of Topic 842, the Company recorded rental revenue and receivables to the extent those amounts were expected to be collected, irrespective of the Company’s determination of the collectability of substantially all rents over the life of a lease. Upon adoption of Topic 842, if at any time the Company cannot determine that it is probable that substantially all rents over the life of a lease are collectible, rental revenue will be recognized only to the extent of payments received and all receivables associated with the lease will be written off irrespective of amounts expected to be collectible. Upon adoption of Topic 842 and as of the adoption date, the Company recorded a $32.5 million reduction in equity and accounts receivable due to the cumulative effect of this change. This reduction consisted of $17.5 million of straight-line rental income receivables and $15.0 million of cash rent receivables, although management believes the $15.0 million of cash rent receivables are collectible. Any recoveries of these amounts will be recorded in future periods upon receipt of payment. Under Topic 842, future write-offs of receivables and any recoveries of previously written-off receivables will be recorded as adjustments to rental revenue. Furthermore, Topic 842 requires lessors to exclude from variable payments lessor costs paid by lessees directly to third parties. In contrast, lessor costs that are paid by the lessor and reimbursed by the lessee are included in the measurement of variable lease revenue and the associated expense. As a result, the Company recognized $17.6 million of variable lease revenue and the associated expense during the year ended December 31, 2019 . In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 requires that a financial asset (or a group of financial assets) measured at amortized cost basis be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. The amendments in ASU 2016-13 are an improvement because they eliminate the probable initial recognition threshold under current GAAP and, instead, reflect an entity’s current estimate of all expected credit losses. Previously, when credit losses were measured under GAAP, an entity generally only considered past events and current conditions in measuring the incurred loss. In November 2018, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments—Credit Losses (“ASU 2018-19”), which amends ASU 2016-13 to clarify that receivables arising from operating leases are not within the scope of Subtopic 326-20, and instead, impairment of such receivables should be accounted for in accordance with Topic 842, Leases. In November 2019, the FASB issued ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments—Credit Losses (“ASU 2019-11”), which amends ASU 2016-13 to clarify or address stakeholders’ specific issues about certain aspects of ASU 2016-13. ASU 2016-13, ASU 2018-19 and ASU 2019-11 are effective for fiscal years and interim periods within those years beginning after December 15, 2019, with early adoption permitted as of the fiscal years beginning after December 15, 2018. An entity will apply the amendments in these updates through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (that is, a modified-retrospective approach). The Company adopted ASU 2016-13, ASU 2018-19 and ASU 2019-11 on January 1, 2020. The adoption of these standards did not have a material impact on the Company’s consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). ASU 2018-13 updates the fair value measurement disclosure requirements by (i) eliminating certain requirements, including disclosure of the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, the policy for timing of transfers between levels and the valuation processes for Level 3 fair value measurements, (ii) modifying certain requirements, including clarifying that the measurement uncertainty disclosure is to communicate information about the uncertainty in measurement as of the reporting date and (iii) adding certain requirements, including disclosure of the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. ASU 2018-13 is effective for fiscal years and interim periods within those years beginning after December 15, 2019, with early adoption permitted for any eliminated or modified disclosures. The Company adopted ASU 2018-13 on January 1, 2020. The Company does not expect the adoption of ASU 2018-13 to have a material impact on its consolidated financial statements. |
RECENT REAL ESTATE ACQUISITIO_2
RECENT REAL ESTATE ACQUISITIONS (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Business Combinations [Abstract] | |
Purchase Price Allocation | The consideration was allocated as follows (in thousands): Year Ended December 31, 2019 2018 Land $ 10,049 $ 29,712 Building and improvements 39,434 232,893 Tenant origination and absorption costs intangible assets 1,438 2,046 Tenant relationship intangible assets 215 677 Total consideration $ 51,136 $ 265,328 |
REAL ESTATE PROPERTIES HELD F_2
REAL ESTATE PROPERTIES HELD FOR INVESTMENT (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Real Estate Investments, Net [Abstract] | |
Real Estate Properties Held for Investment | The Company’s real estate properties held for investment consisted of the following (dollars in thousands): As of December 31, 2019 Property Type Number of Properties Number of Beds/Units Total Real Estate at Cost Accumulated Depreciation Total Real Estate Investments, Net Skilled Nursing/Transitional Care 296 33,290 $ 3,701,666 $ (306,565 ) $ 3,395,101 Senior Housing - Leased (1) 62 3,820 630,688 (72,278 ) 558,410 Senior Housing - Managed (1) 46 4,809 907,771 (112,893 ) 794,878 Specialty Hospitals and Other 25 1,193 639,721 (47,124 ) 592,597 429 43,112 5,879,846 (538,860 ) 5,340,986 Corporate Level 737 (353 ) 384 $ 5,880,583 $ (539,213 ) $ 5,341,370 As of December 31, 2018 Property Type Number of Properties Number of Beds/Units Total Real Estate at Cost Accumulated Depreciation Total Real Estate Investments, Net Skilled Nursing/Transitional Care 335 37,628 $ 4,094,484 $ (224,942 ) $ 3,869,542 Senior Housing - Leased (1) 90 7,332 1,237,790 (125,902 ) 1,111,888 Senior Housing - Managed (1) 23 1,603 301,739 (19,537 ) 282,202 Specialty Hospitals and Other 22 1,085 621,236 (31,640 ) 589,596 470 47,648 6,255,249 (402,021 ) 5,853,228 Corporate Level 634 (317 ) 317 $ 6,255,883 $ (402,338 ) $ 5,853,545 (1) During the year ended December 31, 2019, the Company transitioned 21 senior housing communities to its Senior Housing - Managed portfolio. December 31, 2019 December 31, 2018 Building and improvements $ 5,042,435 $ 5,388,102 Furniture and equipment 239,229 237,145 Land improvements 1,534 1,254 Land 597,385 629,382 5,880,583 6,255,883 Accumulated depreciation (539,213 ) (402,338 ) $ 5,341,370 $ 5,853,545 |
Lessor, Operating Lease, Payments to be Received, Maturity | The future minimum rental payments from the Company’s properties held for investment under non-cancelable operating leases were as follows and may materially differ from actual future rental payments received (in thousands): As of December 31, 2019 2020 $ 428,101 2021 427,791 2022 404,568 2023 389,810 2024 380,944 Thereafter 1,672,008 $ 3,703,222 |
Future Minimum Rental Payments from Non-Cancelable Operating Leases | As of December 31, 2018 2019 $ 465,766 2020 456,207 2021 452,346 2022 454,216 2023 437,277 Thereafter 2,407,064 $ 4,672,876 |
INTANGIBLE ASSETS AND LIABILI_2
INTANGIBLE ASSETS AND LIABILITIES (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Summary of Intangible Assets and Liabilities | The following table summarizes the Company’s intangible assets and liabilities as of December 31, 2019 and 2018 (in thousands): December 31, 2019 2018 Lease Intangible Assets: Above market leases $ 51,040 $ 61,572 Tenant origination and absorption costs 65,234 73,323 Tenant relationship 23,150 26,936 Gross lease intangible assets 139,424 161,831 Accumulated amortization (37,915 ) (30,734 ) Lease intangible assets, net $ 101,509 $ 131,097 Lease Intangible Liabilities: Below market leases $ 99,133 $ 102,098 Accumulated amortization (29,187 ) (18,372 ) Lease intangible liabilities, net $ 69,946 $ 83,726 |
Summary of Real Estate Intangible Amortization | The following is a summary of real estate intangible amortization income (expense) for the years ended December 31, 2019 , 2018 and 2017 (in thousands): Year Ended December 31, 2019 2018 2017 Increase (decrease) to rental income related to above/below market leases, net $ 508 $ (7,701 ) $ 912 Depreciation and amortization related to tenant origination and absorption costs and tenant relationship (17,674 ) (16,118 ) (11,822 ) |
Remaining Unamortized Balance for Outstanding Intangible Assets and Liabilities | The remaining unamortized balance for these outstanding intangible assets and liabilities as of December 31, 2019 will be amortized for the years ending December 31 as follows (dollars in thousands): Lease Intangible Lease Intangible 2020 $ 14,140 $ 12,221 2021 11,782 8,012 2022 11,441 7,269 2023 9,702 7,269 2024 9,061 7,168 Thereafter 45,383 28,007 $ 101,509 $ 69,946 Weighted-average remaining amortization period 10.5 years 8.9 years |
LOANS RECEIVABLE AND OTHER IN_2
LOANS RECEIVABLE AND OTHER INVESTMENTS (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
REAL ESTATE LOANS RECEIVABLE [Abstract] | |
Loans Receivable and Other Investments | As of December 31, 2019 and 2018 , the Company’s loans receivable and other investments consisted of the following (dollars in thousands): December 31, 2019 Investment Quantity Property Type Principal Balance as of December 31, 2019 (1) Book Value Book Value Weighted Average Contractual Interest Rate / Rate of Return Weighted Average Annualized Effective Interest Rate / Rate of Return Maturity Date Loans Receivable: Mortgage 1 Specialty Hospital $ 19,000 $ 19,000 $ 18,577 10.0 % 10.0 % 01/31/27 Construction 1 Senior Housing 2,468 2,487 4,629 8.0 % 7.8 % 09/30/22 Mezzanine — Skilled Nursing — — 2,188 N/A N/A N/A Other 16 Multiple 46,059 42,147 45,324 6.8 % 7.0 % 09/23/19- 08/31/28 18 67,527 63,634 70,718 7.8 % 7.9 % Loan loss reserve — (564 ) (1,258 ) $ 67,527 $ 63,070 $ 69,460 Other Investments: Preferred Equity 9 Skilled Nursing / Senior Housing 43,893 44,304 44,262 12.0 % 12.0 % N/A Total 27 $ 111,420 $ 107,374 $ 113,722 9.4 % 9.6 % (1) Principal balance includes amounts funded and accrued but unpaid interest / preferred return and excludes capitalizable fees. |
Changes in Accretable Yield | The following table presents changes in the accretable yield for the years ended December 31, 2019 and 2018 (in thousands): Year Ended December 31, 2019 2018 Accretable yield, beginning of period $ 449 $ 2,483 Accretion recognized in earnings (377 ) (2,761 ) Reduction due to payoff (33 ) — Net reclassification from nonaccretable difference — 727 Accretable yield, end of period $ 39 $ 449 |
DEBT (Tables)
DEBT (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Debt | The Company’s senior unsecured notes consist of the following (dollars in thousands): Principal Balance as of December 31, Title Maturity Date 2019 (1) 2018 (1) 5.5% senior unsecured notes due 2021 (“2021 Notes”) February 1, 2021 $ — $ 500,000 5.375% senior unsecured notes due 2023 (“2023 Notes”) June 1, 2023 — 200,000 4.80% senior unsecured notes due 2024 (“2024 Notes”) June 1, 2024 300,000 — 5.125% senior unsecured notes due 2026 (“2026 Notes”) August 15, 2026 500,000 500,000 5.38% senior unsecured notes due 2027 (“2027 Notes”) May 17, 2027 100,000 100,000 3.90% senior unsecured notes due 2029 (“2029 Notes”) October 15, 2029 350,000 — $ 1,250,000 $ 1,300,000 (1) Principal balance does not include premium, net of $7.6 million and deferred financing costs, net of $8.8 million as of December 31, 2019 and does not include premium, net of $14.5 million and deferred financing costs, net of $7.1 million as of December 31, 2018 . The Company’s secured debt consists of the following (dollars in thousands): Interest Rate Type Principal Balance as of (1) Principal Balance as of (1) Weighted Average Interest Rate at (2) Maturity Date Fixed Rate $ 114,777 $ 117,464 3.67 % December 2021 - (1) Principal balance does not include deferred financing costs, net of $1.7 million and $1.8 million as of December 31, 2019 and 2018 , respectively. (2) Weighted average interest rate includes private mortgage insurance. |
Schedule of Maturities for Outstanding Debt | The following is a schedule of maturities for the Company’s outstanding debt as of December 31, 2019 (in thousands): Secured Indebtedness Term Loans Senior Notes Total 2020 $ 3,568 $ — $ — $ 3,568 2021 18,853 — — 18,853 2022 3,198 105,000 — 108,198 2023 3,296 350,000 — 353,296 2024 3,396 596,025 300,000 899,421 Thereafter 82,466 — 950,000 1,032,466 Total Debt 114,777 1,051,025 1,250,000 2,415,802 Premium, net — — 7,612 7,612 Deferred financing costs, net (1,707 ) (10,767 ) (8,839 ) (21,313 ) Total Debt, Net $ 113,070 $ 1,040,258 $ 1,248,773 $ 2,402,101 |
DERIVATIVE AND HEDGING INSTRU_2
DERIVATIVE AND HEDGING INSTRUMENTS (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Notional Amounts of Derivative Instruments | The following presents the notional amount of derivative instruments as of the dates indicated (in thousands): December 31, 2019 December 31, 2018 Derivatives designated as cash flow hedges: Denominated in U.S. Dollars (1) $ 1,490,000 $ 1,045,000 Denominated in Canadian Dollars $ 125,000 $ 125,000 Derivatives designated as net investment hedges: Denominated in Canadian Dollars $ 54,489 $ 55,401 Financial instrument designated as net investment hedge: Denominated in Canadian Dollars $ 125,000 $ 125,000 Derivatives not designated as net investment hedges: Denominated in Canadian Dollars $ 1,811 $ 899 (1) Balance includes four forward starting interest rate swaps and one forward starting interest rate collar with an effective date of August 2020 and two forward starting interest rate swaps and one forward starting interest rate collar with an effective date of January 2021 that had been entered into as of December 31, 2019. The forward starting interest rate swaps and forward starting interest rate collars have an aggregate initial notional amount of $645.0 million accreting to $845.0 million in January 2023. |
Summary of Derivative and Financial Instruments Designated as Hedging Instruments | The following is a summary of the derivative and financial instruments designated as hedging instruments held by the Company at December 31, 2019 and 2018 (dollars in thousands): Count as of December 31, 2019 Fair Value Maturity Dates December 31, Type Designation 2019 2018 Balance Sheet Location Assets: Interest rate swaps Cash flow 10 $ 4,239 $ 25,184 2020 - 2023 Accounts receivable, prepaid expenses and other assets, net Cross currency interest rate swaps Net investment 2 3,238 4,160 2025 Accounts receivable, prepaid expenses and other assets, net $ 7,477 $ 29,344 Liabilities: Forward starting interest rate swaps Cash flow 6 $ 494 $ 4,529 2024 Accounts payable and accrued liabilities Forward starting interest rate collars Cash flow 2 132 — 2024 Accounts payable and accrued liabilities CAD term loan Net investment 1 96,025 91,700 2024 Term loans, net $ 96,651 $ 96,229 |
Effect of Derivatives and Financial Instruments Designated as Hedging Instruments on Income and Equity | The following presents the effect of the Company’s derivative and financial instruments designated as hedging instruments on the consolidated statements of income and the consolidated statements of equity for the years ended December 31, 2019 , 2018 and 2017 : Gain (Loss) Recognized in Other Comprehensive Income Gain (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income Income Statement Location For the year ended December 31, 2019 2018 2017 2019 2018 2017 Cash Flow Hedges: Interest rate products $ (19,932 ) $ 2,707 $ 10,807 $ 5,545 $ 3,099 $ (2,174 ) Interest expense Net Investment Hedges: Foreign currency products (772 ) 3,554 (2,378 ) — — — N/A CAD term loan (4,325 ) 7,888 (6,588 ) — — — N/A $ (25,029 ) $ 14,149 $ 1,841 $ 5,545 $ 3,099 $ (2,174 ) |
Gross Presentation, Effects of Offsetting, and a Net Presentation of Derivatives, Assets | The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of December 31, 2019 and 2018 (in thousands): As of December 31, 2019 Gross Amounts Not Offset in the Balance Sheet Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 7,477 $ — $ 7,477 $ (544 ) $ — $ 6,933 Offsetting Liabilities: Derivatives $ 626 $ — $ 626 $ (544 ) $ — $ 82 As of December 31, 2018 Gross Amounts Not Offset in the Balance Sheet Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 29,344 $ — $ 29,344 $ (2,069 ) $ — $ 27,275 Offsetting Liabilities: Derivatives $ 4,529 $ — $ 4,529 $ (2,069 ) $ — $ 2,460 |
Gross Presentation, Effects of Offsetting, and a Net Presentation of Derivatives, Liabilities | The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of December 31, 2019 and 2018 (in thousands): As of December 31, 2019 Gross Amounts Not Offset in the Balance Sheet Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 7,477 $ — $ 7,477 $ (544 ) $ — $ 6,933 Offsetting Liabilities: Derivatives $ 626 $ — $ 626 $ (544 ) $ — $ 82 As of December 31, 2018 Gross Amounts Not Offset in the Balance Sheet Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 29,344 $ — $ 29,344 $ (2,069 ) $ — $ 27,275 Offsetting Liabilities: Derivatives $ 4,529 $ — $ 4,529 $ (2,069 ) $ — $ 2,460 |
FAIR VALUE DISCLOSURES (Tables)
FAIR VALUE DISCLOSURES (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Face Values, Carrying Amounts and Fair Values of Financial Instruments | The following are the face values, carrying amounts and fair values of the Company’s financial instruments as of December 31, 2019 and 2018 whose carrying amounts do not approximate their fair value (in thousands): December 31, 2019 December 31, 2018 Face (1) Carrying (2) Fair Face (1) Carrying (2) Fair Financial assets: Loans receivable $ 67,527 $ 63,070 $ 59,832 $ 96,492 $ 69,460 $ 65,797 Preferred equity investments 43,893 44,304 44,493 43,851 44,262 43,825 Financial liabilities: Senior Notes 1,250,000 1,248,773 1,328,714 1,300,000 1,307,394 1,270,877 Secured indebtedness 114,777 113,070 105,510 117,464 115,679 101,820 (1) Face value represents amounts contractually due under the terms of the respective agreements. (2) Carrying amount represents the book value of financial instruments, including unamortized premiums/discounts and deferred financing costs. |
Inputs Used for Valuation of Financial Instruments | The Company determined the fair value of financial instruments as of December 31, 2019 whose carrying amounts do not approximate their fair value with valuation methods utilizing the following types of inputs (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Financial assets: Loans receivable $ 59,832 $ — $ — $ 59,832 Preferred equity investments 44,493 — — 44,493 Financial liabilities: Senior Notes 1,328,714 — 1,328,714 — Secured indebtedness 105,510 — — 105,510 |
Amounts Measured at Fair Value | During the year ended December 31, 2019 , the Company recorded the following amounts measured at fair value (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Recurring Basis: Financial assets: Interest rate swaps $ 4,239 $ — $ 4,239 $ — Cross currency swaps 3,238 — 3,238 — Financial liabilities: Forward starting interest rate swaps 494 — 494 — Forward starting interest rate collars 132 — 132 — |
EQUITY (Tables)
EQUITY (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
Summary of Accumulated Other Comprehensive Income | The following is a summary of the Company’s accumulated other comprehensive (loss) income (in thousands): Year Ended December 31, 2019 2018 Foreign currency translation gain (loss) $ (1,516 ) $ (2,193 ) Unrealized (loss) gain on cash flow hedges (10,872 ) 14,494 Total accumulated other comprehensive (loss) income $ (12,388 ) $ 12,301 |
STOCK-BASED COMPENSATION (Table
STOCK-BASED COMPENSATION (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Summary of Additional Information Concerning Restricted Stock Units | The following table summarizes additional information concerning restricted stock units at December 31, 2019 : Restricted Stock Units Weighted Average Grant Date Fair Value Per Unit Unvested as of December 31, 2018 1,477,318 $ 17.88 Granted 603,131 20.59 Vested (433,181 ) 18.34 Dividends reinvested 152,329 18.60 Cancelled/forfeited (61,735 ) 18.29 Unvested as of December 31, 2019 1,737,862 $ 18.90 |
Summary of Assumptions Used in Total Stockholder Return-Based Stock Units Valuation | The following are the key assumptions used in this valuation: 2019 2018 2017 Risk free interest rate 1.57% - 2.54% 2.36% - 2.59% 1.42% - 1.99% Expected stock price volatility 23.80% - 28.57% 28.57% - 30.02% 28.86% - 30.97% Expected service period 2.4 - 3.0 years 2.5 - 3.0 years 2.2 - 3.0 years Expected dividend yield (assuming full reinvestment) — % — % — % |
EARNINGS PER COMMON SHARE (Tabl
EARNINGS PER COMMON SHARE (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings Per Share | The following table illustrates the computation of basic and diluted earnings per share (in thousands, except share and per share amounts): Year Ended December 31, 2019 2018 2017 Numerator Net income attributable to common stockholders $ 68,996 $ 269,314 $ 148,141 Denominator Basic weighted average common shares and common equivalents 187,172,210 178,305,738 105,621,242 Dilutive stock options and restricted stock units 954,882 416,006 221,192 Diluted weighted average common shares 188,127,092 178,721,744 105,842,434 Net income attributable to common stockholders, per: Basic common share $ 0.37 $ 1.51 $ 1.40 Diluted common share $ 0.37 $ 1.51 $ 1.40 |
SUMMARIZED CONSOLIDATING INFO_2
SUMMARIZED CONSOLIDATING INFORMATION (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Summarized Condensed Consolidating Information [Abstract] | |
Consolidating Balance Sheet | CONSOLIDATING BALANCE SHEET December 31, 2019 (in thousands, except share and per share amounts) Combined Non-Guarantor Subsidiaries of 2026 Notes and 2029 Notes (5) Parent (1) Operating (2) Sabra Health Care, L.L.C. (3) Combined (4) Elimination Consolidated Assets Real estate investments, net of accumulated depreciation $ 384 $ — $ — $ 5,340,986 $ — $ 5,341,370 Loans receivable and other investments, net (564 ) — — 107,938 — 107,374 Investment in unconsolidated joint venture — — — 319,460 — 319,460 Cash and cash equivalents 29,369 — — 9,728 — 39,097 Restricted cash — — — 10,046 — 10,046 Lease intangible assets, net — — — 101,509 — 101,509 Accounts receivable, prepaid expenses and other assets, net 4,753 18,655 — 137,247 (10,212 ) 150,443 Intercompany 2,126,198 1,728,096 — — (3,854,294 ) — Investment in subsidiaries 1,359,702 1,823,897 — 35,150 (3,218,749 ) — Total assets $ 3,519,842 $ 3,570,648 $ — $ 6,062,064 $ (7,083,255 ) $ 6,069,299 Liabilities Secured debt, net $ — $ — $ — $ 113,070 $ — $ 113,070 Revolving credit facility — — — — — — Term loans, net — 945,393 — 94,865 — 1,040,258 Senior unsecured notes, net — 1,248,773 — — — 1,248,773 Accounts payable and accrued liabilities 31,382 16,780 — 70,842 (10,212 ) 108,792 Lease intangible liabilities, net — — — 69,946 — 69,946 Intercompany — — — 3,854,294 (3,854,294 ) — Total liabilities 31,382 2,210,946 — 4,203,017 (3,864,506 ) 2,580,839 Total equity 3,488,460 1,359,702 — 1,859,047 (3,218,749 ) 3,488,460 Total liabilities and equity $ 3,519,842 $ 3,570,648 $ — $ 6,062,064 $ (7,083,255 ) $ 6,069,299 (1) The Parent Company guarantees the 2024 Notes, the 2026 Notes and the 2029 Notes. (2) The Operating Partnership is the issuer of the 2024 Notes, the 2026 Notes and the 2029 Notes. (3) Sabra Health Care, L.L.C. guarantees the 2024 Notes. (4) The Combined Non-Guarantor Subsidiaries of the 2024 Notes consist of the subsidiaries that do not guarantee the 2024 Notes. (5) None of Sabra Health Care, L.L.C. nor the Combined Non-Guarantor Subsidiaries of the 2024 Notes guarantee the 2026 Notes or the 2029 Notes. CONSOLIDATING BALANCE SHEET December 31, 2018 (in thousands, except share and per share amounts) Combined Non-Guarantor Subsidiaries of 2026 Notes and 2029 Notes (5) Parent (1) Operating (2) Sabra Health Care, L.L.C. (3) Combined (4) Elimination Consolidated Assets Real estate investments, net of accumulated depreciation $ 317 $ — $ — $ 5,853,228 $ — $ 5,853,545 Loans receivable and other investments, net (560 ) — — 114,282 — 113,722 Investment in unconsolidated joint venture — — — 340,120 — 340,120 Cash and cash equivalents 40,835 — — 9,395 — 50,230 Restricted cash — — — 9,428 — 9,428 Lease intangible assets, net — — — 131,097 — 131,097 Accounts receivable, prepaid expenses and other assets, net 798 37,075 — 140,307 (11,019 ) 167,161 Intercompany 1,972,059 2,646,669 — — (4,618,728 ) — Investment in subsidiaries 1,258,715 1,629,795 — 33,083 (2,921,593 ) — Total assets $ 3,272,164 $ 4,313,539 $ — $ 6,630,940 $ (7,551,340 ) $ 6,665,303 Liabilities Secured debt, net $ — $ — $ — $ 115,679 $ — $ 115,679 Revolving credit facility — 624,000 — — — 624,000 Term loans, net — 1,094,177 — 90,753 — 1,184,930 Senior unsecured notes, net — 1,307,394 — — — 1,307,394 Accounts payable and accrued liabilities 21,750 29,253 — 54,843 (11,019 ) 94,827 Lease intangible liabilities, net — — — 83,726 — 83,726 Intercompany — — — 4,618,728 (4,618,728 ) — Total liabilities 21,750 3,054,824 — 4,963,729 (4,629,747 ) 3,410,556 Total Sabra Health Care REIT, Inc. stockholders’ equity 3,250,414 1,258,715 — 1,662,878 (2,921,593 ) 3,250,414 Noncontrolling interests — — — 4,333 — 4,333 Total equity 3,250,414 1,258,715 — 1,667,211 (2,921,593 ) 3,254,747 Total liabilities and equity $ 3,272,164 $ 4,313,539 $ — $ 6,630,940 $ (7,551,340 ) $ 6,665,303 (1) The Parent Company guarantees the 2024 Notes, the 2026 Notes and the 2029 Notes. (2) The Operating Partnership is the issuer of the 2024 Notes, the 2026 Notes and the 2029 Notes. (3) Sabra Health Care, L.L.C. guarantees the 2024 Notes. (4) The Combined Non-Guarantor Subsidiaries of the 2024 Notes consist of the subsidiaries that do not guarantee the 2024 Notes. (5) None of Sabra Health Care, L.L.C. nor the Combined Non-Guarantor Subsidiaries of the 2024 Notes guarantee the 2026 Notes or the 2029 Notes. |
Consolidating Statement of Income | CONSOLIDATING STATEMENT OF INCOME For the Year Ended December 31, 2019 (in thousands, except share and per share amounts) Combined Non-Guarantor Subsidiaries of 2026 Notes and 2029 Notes (5) Parent (1) Operating (2) Sabra Health Care, L.L.C. (3) Combined (4) Elimination Consolidated Revenues: Rental and related revenues $ — $ — $ — $ 485,138 $ (33,000 ) $ 452,138 Interest and other income 255 5,655 — 81,285 (5,655 ) 81,540 Resident fees and services — — — 128,058 — 128,058 Total revenues 255 5,655 — 694,481 (38,655 ) 661,736 Expenses: Depreciation and amortization 50 — — 181,499 — 181,549 Interest — 118,656 — 13,609 (5,655 ) 126,610 Triple-net portfolio operating expenses — — — 22,215 — 22,215 Senior housing - managed portfolio operating expenses — — — 119,257 (33,000 ) 86,257 General and administrative 28,486 175 — 1,801 — 30,462 Merger and acquisition costs 423 — — 1 — 424 Provision for doubtful accounts, straight-line rental income and loan losses 4 — — 1,234 — 1,238 Impairment of real estate — — — 121,819 — 121,819 Total expenses 28,963 118,831 — 461,435 (38,655 ) 570,574 Other income (expense): Loss on extinguishment of debt — (16,296 ) — (44 ) — (16,340 ) Other (expense) income — (321 ) — 2,415 — 2,094 Net gain on sales of real estate — — — 2,300 — 2,300 Total other (expense) income — (16,617 ) — 4,671 — (11,946 ) Income in subsidiary 98,665 228,459 — 6,846 (333,970 ) — Income before loss from unconsolidated joint venture and income tax expense 69,957 98,666 — 244,563 (333,970 ) 79,216 Loss from unconsolidated joint venture — — — (6,796 ) — (6,796 ) Income tax expense (961 ) (1 ) — (2,440 ) — (3,402 ) Net income 68,996 98,665 — 235,327 (333,970 ) 69,018 Net income attributable to noncontrolling interests — — — (22 ) — (22 ) Net income attributable to common stockholders $ 68,996 $ 98,665 $ — $ 235,305 $ (333,970 ) $ 68,996 Net income attributable to common stockholders, per: Basic common share $ 0.37 Diluted common share $ 0.37 Weighted-average number of common shares outstanding, basic 187,172,210 Weighted-average number of common shares outstanding, diluted 188,127,092 (1) The Parent Company guarantees the 2024 Notes, the 2026 Notes and the 2029 Notes. (2) The Operating Partnership is the issuer of the 2024 Notes, the 2026 Notes and the 2029 Notes. (3) Sabra Health Care, L.L.C. guarantees the 2024 Notes. (4) The Combined Non-Guarantor Subsidiaries of the 2024 Notes consist of the subsidiaries that do not guarantee the 2024 Notes. (5) None of Sabra Health Care, L.L.C. nor the Combined Non-Guarantor Subsidiaries of the 2024 Notes guarantee the 2026 Notes or the 2029 Notes. CONSOLIDATING STATEMENT OF INCOME For the Year Ended December 31, 2018 (in thousands, except share and per share amounts) Combined Non-Guarantor Subsidiaries of 2026 Notes and 2029 Notes (5) Parent (1) Operating (2) Sabra Health Care, L.L.C. (3) Combined (4) Elimination Consolidated Revenues: Rental and related revenues $ — $ — $ — $ 554,030 $ (17,425 ) $ 536,605 Interest and other income 110 399 — 16,557 (399 ) 16,667 Resident fees and services — — — 70,137 — 70,137 Total revenues 110 399 — 640,724 (17,824 ) 623,409 Expenses: Depreciation and amortization 887 — — 190,492 — 191,379 Interest — 134,096 — 13,409 (399 ) 147,106 Senior housing - managed portfolio operating expenses — — — 66,971 (17,425 ) 49,546 General and administrative 26,801 71 — 9,586 — 36,458 Merger and acquisition costs 642 — — (6 ) — 636 Provision for doubtful accounts, straight-line rental income and loan losses 822 — — 38,253 — 39,075 Impairment of real estate — — — 1,413 — 1,413 Total expenses 29,152 134,167 — 320,118 (17,824 ) 465,613 Other income (expense): Loss on extinguishment of debt — — — (2,917 ) — (2,917 ) Other income (expense) 1,977 (55 ) — 2,558 — 4,480 Net gain on sales of real estate — — — 128,198 — 128,198 Total other income (expense) 1,977 (55 ) — 127,839 — 129,761 Income in subsidiary 307,736 441,560 — 24,316 (773,612 ) — Income before loss from unconsolidated joint venture and income tax expense 280,671 307,737 — 472,761 (773,612 ) 287,557 Loss from unconsolidated joint venture — — — (5,431 ) — (5,431 ) Income tax expense (1,589 ) (1 ) — (1,421 ) — (3,011 ) Net income 279,082 307,736 — 465,909 (773,612 ) 279,115 Net loss attributable to noncontrolling interests — — — (33 ) — (33 ) Net income attributable to Sabra Health Care REIT, Inc. 279,082 307,736 — 465,876 (773,612 ) 279,082 Preferred stock dividends (9,768 ) — — — — (9,768 ) Net income attributable to common stockholders $ 269,314 $ 307,736 $ — $ 465,876 $ (773,612 ) $ 269,314 Net income attributable to common stockholders, per: Basic common share $ 1.51 Diluted common share $ 1.51 Weighted-average number of common shares outstanding, basic 178,305,738 Weighted-average number of common shares outstanding, diluted 178,721,744 (1) The Parent Company guarantees the 2024 Notes, the 2026 Notes and the 2029 Notes. (2) The Operating Partnership is the issuer of the 2024 Notes, the 2026 Notes and the 2029 Notes. (3) Sabra Health Care, L.L.C. guarantees the 2024 Notes. (4) The Combined Non-Guarantor Subsidiaries of the 2024 Notes consist of the subsidiaries that do not guarantee the 2024 Notes. (5) None of Sabra Health Care, L.L.C. nor the Combined Non-Guarantor Subsidiaries of the 2024 Notes guarantee the 2026 Notes or the 2029 Notes. CONSOLIDATING STATEMENT OF INCOME For the Year Ended December 31, 2017 (in thousands, except share and per share amounts) Combined Non-Guarantor Subsidiaries of 2026 Notes and 2029 Notes (5) Parent (1) Operating (2) Sabra Health Care, L.L.C. (3) Combined (4) Elimination Consolidated Revenues: Rental and related revenues $ — $ — $ — $ 371,704 $ (7,513 ) $ 364,191 Interest and other income 2,673 143 — 15,005 (161 ) 17,660 Resident fee and services — — — 26,430 — 26,430 Total revenues 2,673 143 — 413,139 (7,674 ) 408,281 Expenses: Depreciation and amortization 867 — — 113,015 — 113,882 Interest — 77,767 — 10,816 (143 ) 88,440 Senior housing - managed portfolio operating expenses — — — 25,391 (7,531 ) 17,860 General and administrative 24,810 65 — 7,526 — 32,401 Merger and acquisition costs 30,208 — — 47 — 30,255 Provision for doubtful accounts, straight-line rental income and loan losses 227 — — 16,886 — 17,113 Impairment of real estate — — — 1,326 — 1,326 Total expenses 56,112 77,832 — 175,007 (7,674 ) 301,277 Other income (expense): Loss on extinguishment of debt — (422 ) — (131 ) — (553 ) Other income (expense) — 1,130 — (594 ) — 536 Net gain on sales of real estate — — — 52,029 — 52,029 Total other income — 708 — 51,304 — 52,012 Income in subsidiary 212,432 289,414 — 7,199 (509,045 ) — Income before income tax expense 158,993 212,433 — 296,635 (509,045 ) 159,016 Income tax expense (610 ) (1 ) — (40 ) — (651 ) Net income 158,383 212,432 — 296,595 (509,045 ) 158,365 Net loss attributable to noncontrolling interests — — — 18 — 18 Net income attributable to Sabra Health Care REIT, Inc. 158,383 212,432 — 296,613 (509,045 ) 158,383 Preferred stock dividends (10,242 ) — — — — (10,242 ) Net income attributable to common stockholders $ 148,141 $ 212,432 $ — $ 296,613 $ (509,045 ) $ 148,141 Net income attributable to common stockholders, per: Basic common share $ 1.40 Diluted common share $ 1.40 Weighted-average number of common shares outstanding, basic 105,621,242 Weighted-average number of common shares outstanding, diluted 105,842,434 (1) The Parent Company guarantees the 2024 Notes, the 2026 Notes and the 2029 Notes. (2) The Operating Partnership is the issuer of the 2024 Notes, the 2026 Notes and the 2029 Notes. (3) Sabra Health Care, L.L.C. guarantees the 2024 Notes. (4) The Combined Non-Guarantor Subsidiaries of the 2024 Notes consist of the subsidiaries that do not guarantee the 2024 Notes. (5) None of Sabra Health Care, L.L.C. nor the Combined Non-Guarantor Subsidiaries of the 2024 Notes guarantee the 2026 Notes or the 2029 Notes. |
Consolidating Statement of Comprehensive Income | CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Year Ended December 31, 2019 (in thousands) Combined Non-Guarantor Subsidiaries of 2026 Notes and 2029 Notes (5) Parent (1) Operating (2) Sabra Health Care, L.L.C. (3) Combined (4) Elimination Consolidated Net income $ 68,996 $ 98,665 $ — $ 235,327 $ (333,970 ) $ 69,018 Other comprehensive (loss) income: Unrealized gain (loss), net of tax: Foreign currency translation (loss) gain — (1,276 ) — 1,955 — 679 Unrealized (loss) gain on cash flow hedge — (25,416 ) — 48 — (25,368 ) Total other comprehensive (loss) income — (26,692 ) — 2,003 — (24,689 ) Comprehensive income 68,996 71,973 — 237,330 (333,970 ) 44,329 Comprehensive income attributable to noncontrolling interests — — — (22 ) — (22 ) Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 68,996 $ 71,973 $ — $ 237,308 $ (333,970 ) $ 44,307 (1) The Parent Company guarantees the 2024 Notes, the 2026 Notes and the 2029 Notes. (2) The Operating Partnership is the issuer of the 2024 Notes, the 2026 Notes and the 2029 Notes. (3) Sabra Health Care, L.L.C. guarantees the 2024 Notes. (4) The Combined Non-Guarantor Subsidiaries of the 2024 Notes consist of the subsidiaries that do not guarantee the 2024 Notes. (5) None of Sabra Health Care, L.L.C. nor the Combined Non-Guarantor Subsidiaries of the 2024 Notes guarantee the 2026 Notes or the 2029 Notes. CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Year Ended December 31, 2018 (in thousands) Combined Non-Guarantor Subsidiaries of 2026 Notes and 2029 Notes (5) Parent (1) Operating (2) Sabra Health Care, L.L.C. (3) Combined (4) Elimination Consolidated Net income $ 279,082 $ 307,736 $ — $ 465,909 $ (773,612 ) $ 279,115 Other comprehensive income (loss): Unrealized gain (loss), net of tax: Foreign currency translation gain (loss) — 4,329 — (3,609 ) — 720 Unrealized gain on cash flow hedge — 244 — 48 — 292 Total other comprehensive income (loss) — 4,573 — (3,561 ) — 1,012 Comprehensive income 279,082 312,309 — 462,348 (773,612 ) 280,127 Comprehensive income attributable to noncontrolling interests — — — (33 ) — (33 ) Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 279,082 $ 312,309 $ — $ 462,315 $ (773,612 ) $ 280,094 (1) The Parent Company guarantees the 2024 Notes, the 2026 Notes and the 2029 Notes. (2) The Operating Partnership is the issuer of the 2024 Notes, the 2026 Notes and the 2029 Notes. (3) Sabra Health Care, L.L.C. guarantees the 2024 Notes. (4) The Combined Non-Guarantor Subsidiaries of the 2024 Notes consist of the subsidiaries that do not guarantee the 2024 Notes. (5) None of Sabra Health Care, L.L.C. nor the Combined Non-Guarantor Subsidiaries of the 2024 Notes guarantee the 2026 Notes or the 2029 Notes. CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Year Ended December 31, 2017 (in thousands) Combined Non-Guarantor Subsidiaries of 2026 Notes and 2029 Notes (5) Parent (1) Operating (2) Sabra Health Care, L.L.C. (3) Combined (4) Elimination Consolidated Net income $ 158,383 $ 212,432 $ — $ 296,595 $ (509,045 ) $ 158,365 Other comprehensive income: Unrealized gain (loss), net of tax: Foreign currency translation (loss) gain — (2,821 ) — 2,975 — 154 Unrealized gain (loss) on cash flow hedges — 13,078 — (145 ) — 12,933 Total other comprehensive income — 10,257 — 2,830 — 13,087 Comprehensive income 158,383 222,689 — 299,425 (509,045 ) 171,452 Comprehensive loss attributable to noncontrolling interests — — — 18 — 18 Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 158,383 $ 222,689 $ — $ 299,443 $ (509,045 ) $ 171,470 (1) The Parent Company guarantees the 2024 Notes, the 2026 Notes and the 2029 Notes. (2) The Operating Partnership is the issuer of the 2024 Notes, the 2026 Notes and the 2029 Notes. (3) Sabra Health Care, L.L.C. guarantees the 2024 Notes. (4) The Combined Non-Guarantor Subsidiaries of the 2024 Notes consist of the subsidiaries that do not guarantee the 2024 Notes. (5) None of Sabra Health Care, L.L.C. nor the Combined Non-Guarantor Subsidiaries of the 2024 Notes guarantee the 2026 Notes or the 2029 Notes. |
Consolidating Statement of Cash Flows | CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2019 (in thousands) Combined Non-Guarantor Subsidiaries of 2026 Notes and 2029 Notes (5) Parent (1) Operating (2) Sabra Health Care, L.L.C. (3) Combined (4) Elimination Consolidated Net cash provided by operating activities $ 359,681 $ — $ — $ 12,794 $ — $ 372,475 Cash flows from investing activities: Acquisition of real estate — — — (51,136 ) — (51,136 ) Origination and fundings of loans receivable — — — (13,065 ) — (13,065 ) Additions to real estate (115 ) — — (25,336 ) — (25,451 ) Repayment of loans receivable — — — 18,367 — 18,367 Repayment of preferred equity investments — — — 5,079 — 5,079 Net proceeds from sales of real estate — — — 329,050 — 329,050 Distribution from subsidiaries 5,248 5,248 — — (10,496 ) — Intercompany financing (590,173 ) 266,148 — — 324,025 — Net cash (used in) provided by investing activities (585,040 ) 271,396 — 262,959 313,529 262,844 Cash flows from financing activities: Net repayments of revolving credit facility — (624,000 ) — — — (624,000 ) Proceeds from issuance of senior unsecured notes — 638,779 — — — 638,779 Principal payments on senior unsecured notes — (700,000 ) — — — (700,000 ) Principal payments on term loans — (145,000 ) — — — (145,000 ) Principal payments on secured debt — — — (3,436 ) — (3,436 ) Payments of deferred financing costs — (15,598 ) — — — (15,598 ) Payments related to extinguishment of debt — (10,502 ) — — — (10,502 ) Distributions to noncontrolling interests — — — (316 ) — (316 ) Issuance of common stock, net 549,328 — — — — 549,328 Dividends paid on common stock (335,435 ) — — — — (335,435 ) Distribution to parent — (5,248 ) — (5,248 ) 10,496 — Intercompany financing — 590,173 — (266,148 ) (324,025 ) — Net cash provided by (used in) financing activities 213,893 (271,396 ) — (275,148 ) (313,529 ) (646,180 ) Net (decrease) increase in cash, cash equivalents and restricted cash (11,466 ) — — 605 — (10,861 ) Effect of foreign currency translation on cash, cash equivalents and restricted cash — — — 346 — 346 Cash, cash equivalents and restricted cash, beginning of period 40,835 — — 18,823 — 59,658 Cash, cash equivalents and restricted cash, end of period $ 29,369 $ — $ — $ 19,774 $ — $ 49,143 (1) The Parent Company guarantees the 2024 Notes, the 2026 Notes and the 2029 Notes. (2) The Operating Partnership is the issuer of the 2024 Notes, the 2026 Notes and the 2029 Notes. (3) Sabra Health Care, L.L.C. guarantees the 2024 Notes. (4) The Combined Non-Guarantor Subsidiaries of the 2024 Notes consist of the subsidiaries that do not guarantee the 2024 Notes. (5) None of Sabra Health Care, L.L.C. nor the Combined Non-Guarantor Subsidiaries of the 2024 Notes guarantee the 2026 Notes or the 2029 Notes. CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2018 (in thousands) Combined Non-Guarantor Subsidiaries of 2026 Notes and 2029 Notes (5) Parent (1) Operating (2) Sabra Health Care, L.L.C. (3) Combined (4) Elimination Consolidated Net cash provided by operating activities $ 312,485 $ — $ — $ 48,101 $ — $ 360,586 Cash flows from investing activities: Acquisition of real estate — — — (261,511 ) — (261,511 ) Origination and fundings of loans receivable — — — (50,731 ) — (50,731 ) Origination and fundings of preferred equity investments — — — (5,313 ) — (5,313 ) Additions to real estate (40 ) — — (27,657 ) — (27,697 ) Repayment of loans receivable — — — 51,789 — 51,789 Repayment of preferred equity investments — — — 6,870 — 6,870 Investment in unconsolidated JV — — — (354,461 ) — (354,461 ) Net proceeds from sales of real estate — — — 382,560 — 382,560 Distribution from subsidiaries 5,457 5,457 — — (10,914 ) — Intercompany financing (319,268 ) (299,873 ) — — 619,141 — Net cash used in investing activities (313,851 ) (294,416 ) — (258,454 ) 608,227 (258,494 ) Cash flows from financing activities: Net repayments of revolving credit facility — (17,000 ) — — — (17,000 ) Principal payments on secured debt — — — (140,338 ) — (140,338 ) Payments of deferred financing costs — (352 ) — — — (352 ) Payments related to extinguishment of debt — (2,043 ) — — — (2,043 ) Distributions to noncontrolling interests — — — (142 ) — (142 ) Preferred stock redemption (143,750 ) — — — — (143,750 ) Issuance of common stock, net (499 ) — — — — (499 ) Dividends paid on common and preferred stock (325,220 ) — — — — (325,220 ) Distribution to parent — (5,457 ) — (5,457 ) 10,914 — Intercompany financing — 319,268 — 299,873 (619,141 ) — Net cash (used in) provided by financing activities (469,469 ) 294,416 — 153,936 (608,227 ) (629,344 ) Net decrease in cash, cash equivalents and restricted cash (470,835 ) — — (56,417 ) — (527,252 ) Effect of foreign currency translation on cash, cash equivalents and restricted cash — — — (539 ) — (539 ) Cash, cash equivalents and restricted cash, beginning of period 511,670 — — 75,779 — 587,449 Cash, cash equivalents and restricted cash, end of period $ 40,835 $ — $ — $ 18,823 $ — $ 59,658 (1) The Parent Company guarantees the 2024 Notes, the 2026 Notes and the 2029 Notes. (2) The Operating Partnership is the issuer of the 2024 Notes, the 2026 Notes and the 2029 Notes. (3) Sabra Health Care, L.L.C. guarantees the 2024 Notes. (4) The Combined Non-Guarantor Subsidiaries of the 2024 Notes consist of the subsidiaries that do not guarantee the 2024 Notes. (5) None of Sabra Health Care, L.L.C. nor the Combined Non-Guarantor Subsidiaries of the 2024 Notes guarantee the 2026 Notes or the 2029 Notes. CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2017 (in thousands) Combined Non-Guarantor Subsidiaries of 2026 Notes and 2029 Notes (5) Parent (1) Operating (2) Sabra Health Care, L.L.C. (3) Combined (4) Elimination Consolidated Net cash provided by operating activities $ 59,640 $ — $ — $ 76,149 $ — $ 135,789 Cash flows from investing activities: Acquisition of real estate — — — (419,905 ) — (419,905 ) Cash received in CCP Merger 77,859 — — — — 77,859 Origination and fundings of loans receivable — — — (17,239 ) — (17,239 ) Origination and fundings of preferred equity investments — — — (2,749 ) — (2,749 ) Additions to real estate (181 ) — — (6,773 ) — (6,954 ) Repayment of loans receivable — — — 32,430 — 32,430 Repayment of preferred equity investments — — — 3,755 — 3,755 Net proceeds from the sales of real estate — — — 150,243 — 150,243 Distribution from subsidiaries 2,474 2,474 — — (4,948 ) — Intercompany financing 168,999 (249,664 ) — — 80,665 — Net cash provided by (used in) investing activities 249,151 (247,190 ) — (260,238 ) 75,717 (182,560 ) Cash flows from financing activities: Net borrowings from revolving credit facility — 253,000 — — — 253,000 Proceeds from term loans — 181,000 — — — 181,000 Principal payments on secured debt — — — (4,145 ) — (4,145 ) Payments of deferred financing costs — (15,337 ) — — — (15,337 ) Payment of contingent consideration — — — (382 ) — (382 ) Distributions to noncontrolling interests — — — (30 ) — (30 ) Issuance of common stock, net 366,800 — — — — 366,800 Dividends paid on common and preferred stock (182,089 ) — — — — (182,089 ) Distribution to parent — (2,474 ) — (2,474 ) 4,948 — Intercompany financing — (168,999 ) — 249,664 (80,665 ) — Net cash provided by financing activities 184,711 247,190 — 242,633 (75,717 ) 598,817 Net increase in cash, cash equivalents and restricted cash 493,502 — — 58,544 — 552,046 Effect of foreign currency translation on cash, cash equivalents and restricted cash — — — 738 — 738 Cash, cash equivalents and restricted cash, beginning of period 18,168 — — 16,497 — 34,665 Cash, cash equivalents and restricted cash, end of period $ 511,670 $ — $ — $ 75,779 $ — $ 587,449 (1) The Parent Company guarantees the 2024 Notes, the 2026 Notes and the 2029 Notes. (2) The Operating Partnership is the issuer of the 2024 Notes, the 2026 Notes and the 2029 Notes. (3) Sabra Health Care, L.L.C. guarantees the 2024 Notes. (4) The Combined Non-Guarantor Subsidiaries of the 2024 Notes consist of the subsidiaries that do not guarantee the 2024 Notes. (5) None of Sabra Health Care, L.L.C. nor the Combined Non-Guarantor Subsidiaries of the 2024 Notes guarantee the 2026 Notes or the 2029 Notes. |
BUSINESS (Details)
BUSINESS (Details) - $ / shares | Aug. 17, 2017 | Dec. 31, 2019 | Dec. 31, 2018 |
Business [Line Items] | |||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 |
Care Capital Properties | |||
Business [Line Items] | |||
Common stock, par value (in dollars per share) | $ 0.01 | ||
Shares of Sabra common stock issued per share of CCP common stock (in shares) | 1.123 |
SUMMARY OF SIGNIFICANT ACCOUN_3
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) | Jan. 02, 2018USD ($)Propertydirector | Dec. 31, 2019USD ($)Propertyvariable_interest_entitySegmentInvestment | Dec. 31, 2018USD ($)Investment | Dec. 31, 2017USD ($) | Jan. 01, 2019USD ($) |
Property, Plant and Equipment [Line Items] | |||||
Number of investments in loans accounted for as real estate joint ventures | Investment | 0 | 0 | |||
Acquisition costs capitalized | $ 600,000 | $ 700,000 | |||
Merger and acquisition costs | $ 424,000 | 636,000 | $ 30,255,000 | ||
Extension period for tenant relationship intangible assets | 10 years | ||||
Assets held for sale | $ 0 | 0 | |||
Book value of investment in the joint venture | 319,460,000 | 340,120,000 | |||
Restricted cash | $ 10,046,000 | 9,428,000 | |||
Number of reportable segments | Segment | 1 | ||||
Operating lease liability | $ 9,800,000 | ||||
Operating lease right-of-use asset | 9,300,000 | ||||
ASU 2016-02 | |||||
Property, Plant and Equipment [Line Items] | |||||
Operating lease liability | $ 10,000,000 | ||||
Operating lease right-of-use asset | 10,000,000 | ||||
Cumulative effect of Topic 842 adoption | 32,502,000 | ||||
Straight-line rent receivable | 17,500,000 | ||||
Cash rent receivable | $ 15,000,000 | ||||
Variable lease, income | 17,600,000 | ||||
Restricted Cash Obligations | |||||
Property, Plant and Equipment [Line Items] | |||||
Restricted cash | 5,600,000 | 5,500,000 | |||
Skilled Nursing/Transitional Care | |||||
Property, Plant and Equipment [Line Items] | |||||
Net investment in direct financing lease | $ 23,900,000 | ||||
Properties in direct financing lease | Property | 1 | ||||
Undiscounted rental payments | $ 4,000,000 | ||||
Estimated unguaranteed residual value | 24,700,000 | ||||
Unearned lease income | 4,800,000 | ||||
Income from direct financing lease | 2,700,000 | ||||
Income from direct financing lease | $ 2,600,000 | $ 1,000,000 | |||
Future minimum lease payments contractually due under direct financing lease, 2020 | 2,300,000 | ||||
Future minimum lease payments contractually due under direct financing lease, 2021 | $ 2,100,000 | ||||
Land Improvements | Minimum | |||||
Property, Plant and Equipment [Line Items] | |||||
Estimated useful lives of assets | 5 years | ||||
Land Improvements | Maximum | |||||
Property, Plant and Equipment [Line Items] | |||||
Estimated useful lives of assets | 20 years | ||||
Buildings and Building Improvements | Minimum | |||||
Property, Plant and Equipment [Line Items] | |||||
Estimated useful lives of assets | 5 years | ||||
Buildings and Building Improvements | Maximum | |||||
Property, Plant and Equipment [Line Items] | |||||
Estimated useful lives of assets | 40 years | ||||
Furniture and Equipment | Minimum | |||||
Property, Plant and Equipment [Line Items] | |||||
Estimated useful lives of assets | 3 years | ||||
Furniture and Equipment | Maximum | |||||
Property, Plant and Equipment [Line Items] | |||||
Estimated useful lives of assets | 20 years | ||||
Enlivant Joint Venture | |||||
Property, Plant and Equipment [Line Items] | |||||
Number of real estate properties acquired | Property | 172 | ||||
Enlivant Joint Venture | Senior Housing Facilities | |||||
Property, Plant and Equipment [Line Items] | |||||
Number of properties sold | Property | 2 | ||||
Proceeds from sale of real estate | $ 6,300,000 | ||||
Enlivant Joint Venture | |||||
Property, Plant and Equipment [Line Items] | |||||
Payments to acquire equity interest, before closing costs | $ 352,700,000 | ||||
Equity interest acquired | 49.00% | ||||
Outstanding indebtedness | $ 791,300,000 | ||||
Net working capital | $ 22,900,000 | ||||
Number of directors appointed by minority interest | director | 3 | ||||
Total number of directors | director | 7 | ||||
Gain (loss) on sale of properties | (1,700,000) | ||||
Book value of investment in the joint venture | $ 319,500,000 | ||||
Primary Beneficiary | |||||
Property, Plant and Equipment [Line Items] | |||||
Number of variable interest entities | variable_interest_entity | 0 |
RECENT REAL ESTATE ACQUISITIO_3
RECENT REAL ESTATE ACQUISITIONS - Narrative (Details) - Recent Real Estate Acquisitions $ in Millions | 12 Months Ended | |
Dec. 31, 2019USD ($)Property | Dec. 31, 2018USD ($)Property | |
Business Acquisition [Line Items] | ||
Revenues from the properties acquired | $ | $ 0.8 | $ 44 |
Net income attributable to common stockholders from the properties acquired | $ | $ 0.4 | $ 14 |
Tenant Origination and Absorption Costs | ||
Business Acquisition [Line Items] | ||
Finite-lived intangible assets, weighted average amortization period as of date of acquisition | 6 years | 13 years |
Tenant Relationship | ||
Business Acquisition [Line Items] | ||
Finite-lived intangible assets, weighted average amortization period as of date of acquisition | 21 years | 22 years |
Senior Housing Communities | ||
Business Acquisition [Line Items] | ||
Number of acquired properties | 2 | 8 |
Specialty Hospitals and Other | ||
Business Acquisition [Line Items] | ||
Number of acquired properties | 2 | |
Senior Housing - Managed | ||
Business Acquisition [Line Items] | ||
Number of acquired properties | 1 | 11 |
Skilled Nursing/Transitional Care | ||
Business Acquisition [Line Items] | ||
Number of acquired properties | 2 |
RECENT REAL ESTATE ACQUISITIO_4
RECENT REAL ESTATE ACQUISITIONS - Recent Real Estate Acquisitions Purchase Price Allocation (Details) - Recent Real Estate Acquisitions - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Business Acquisition [Line Items] | ||
Land | $ 10,049 | $ 29,712 |
Building and improvements | 39,434 | 232,893 |
Total consideration | 51,136 | 265,328 |
Tenant origination and absorption costs intangible assets | ||
Business Acquisition [Line Items] | ||
Lease intangible assets, net | 1,438 | 2,046 |
Tenant relationship intangible assets | ||
Business Acquisition [Line Items] | ||
Lease intangible assets, net | $ 215 | $ 677 |
REAL ESTATE PROPERTIES HELD F_3
REAL ESTATE PROPERTIES HELD FOR INVESTMENT - Real Estate Properties Held for Investment (Details) $ in Thousands | Dec. 31, 2019USD ($)Bedfacility | Dec. 31, 2018USD ($)Bedfacility |
Real Estate Properties [Line Items] | ||
Building and improvements | $ 5,042,435 | $ 5,388,102 |
Furniture and equipment | 239,229 | 237,145 |
Land improvements | 1,534 | 1,254 |
Land | 597,385 | 629,382 |
Total Real Estate at Cost | 5,880,583 | 6,255,883 |
Accumulated Depreciation | (539,213) | (402,338) |
Total Real Estate Investments, Net | $ 5,341,370 | $ 5,853,545 |
Operating Segments | ||
Real Estate Properties [Line Items] | ||
Number of Properties | facility | 429 | 470 |
Number of Beds/Units | Bed | 43,112 | 47,648 |
Total Real Estate at Cost | $ 5,879,846 | $ 6,255,249 |
Accumulated Depreciation | (538,860) | (402,021) |
Total Real Estate Investments, Net | $ 5,340,986 | $ 5,853,228 |
Operating Segments | Skilled Nursing/Transitional Care | ||
Real Estate Properties [Line Items] | ||
Number of Properties | facility | 296 | 335 |
Number of Beds/Units | Bed | 33,290 | 37,628 |
Total Real Estate at Cost | $ 3,701,666 | $ 4,094,484 |
Accumulated Depreciation | (306,565) | (224,942) |
Total Real Estate Investments, Net | $ 3,395,101 | $ 3,869,542 |
Operating Segments | Senior Housing - Leased | ||
Real Estate Properties [Line Items] | ||
Number of Properties | facility | 62 | 90 |
Number of Beds/Units | Bed | 3,820 | 7,332 |
Total Real Estate at Cost | $ 630,688 | $ 1,237,790 |
Accumulated Depreciation | (72,278) | (125,902) |
Total Real Estate Investments, Net | $ 558,410 | $ 1,111,888 |
Operating Segments | Senior Housing Facilities - Managed Portfolio | ||
Real Estate Properties [Line Items] | ||
Number of Properties | facility | 46 | 23 |
Number of Beds/Units | Bed | 4,809 | 1,603 |
Total Real Estate at Cost | $ 907,771 | $ 301,739 |
Accumulated Depreciation | (112,893) | (19,537) |
Total Real Estate Investments, Net | $ 794,878 | $ 282,202 |
Operating Segments | Specialty Hospitals and Other | ||
Real Estate Properties [Line Items] | ||
Number of Properties | facility | 25 | 22 |
Number of Beds/Units | Bed | 1,193 | 1,085 |
Total Real Estate at Cost | $ 639,721 | $ 621,236 |
Accumulated Depreciation | (47,124) | (31,640) |
Total Real Estate Investments, Net | 592,597 | 589,596 |
Corporate Level | ||
Real Estate Properties [Line Items] | ||
Total Real Estate at Cost | 737 | 634 |
Accumulated Depreciation | (353) | (317) |
Total Real Estate Investments, Net | $ 384 | $ 317 |
REAL ESTATE PROPERTIES HELD F_4
REAL ESTATE PROPERTIES HELD FOR INVESTMENT - Narrative (Details) | Apr. 01, 2019USD ($)facility | Dec. 19, 2018facility | Jan. 31, 2020facility | May 31, 2019facility | Mar. 31, 2019USD ($) | Dec. 31, 2019USD ($)facility | Jan. 31, 2020facility | Dec. 31, 2019USD ($)facility | Jan. 31, 2020facility | Dec. 31, 2019USD ($)facility | Dec. 31, 2018USD ($)facility | Dec. 31, 2017USD ($) |
Real Estate Properties [Line Items] | ||||||||||||
Weighted average expiration period | 8 years | 8 years | 8 years | |||||||||
Security deposit liability | $ 10,500,000 | $ 10,500,000 | $ 10,500,000 | $ 12,400,000 | ||||||||
Letters of credit deposited | 83,000,000 | 83,000,000 | 83,000,000 | 98,000,000 | ||||||||
Deposits held for future real estate taxes, insurance expenditures and tenant improvement | $ 14,300,000 | $ 14,300,000 | 14,300,000 | 17,500,000 | ||||||||
Reserve for unpaid cash rents | 1,300,000 | |||||||||||
Reserve associated with straight-line rental income | 35,800,000 | |||||||||||
Portion of settlement applied to post-petition rent | 6,200,000 | |||||||||||
Impairment of real estate | 121,819,000 | 1,413,000 | $ 1,326,000 | |||||||||
Gain (loss) on termination of lease | 10,579,000 | 0 | 0 | |||||||||
Resident fees and services | 128,058,000 | 70,137,000 | 26,430,000 | |||||||||
Ancillary Services | ||||||||||||
Real Estate Properties [Line Items] | ||||||||||||
Resident fees and services | $ 800,000 | 500,000 | $ 300,000 | |||||||||
Minimum | ||||||||||||
Real Estate Properties [Line Items] | ||||||||||||
Operating lease expiration period | 1 year | 1 year | 1 year | |||||||||
Maximum | ||||||||||||
Real Estate Properties [Line Items] | ||||||||||||
Operating lease expiration period | 15 years | 15 years | 15 years | |||||||||
Holiday Retirement | ||||||||||||
Real Estate Properties [Line Items] | ||||||||||||
Lease termination, income | $ 66,900,000 | |||||||||||
Total consideration received upon termination | 57,200,000 | |||||||||||
Gain (loss) on termination of lease | $ 9,700,000 | |||||||||||
2019 Dispositions | ||||||||||||
Real Estate Properties [Line Items] | ||||||||||||
Impairment of real estate | $ 95,200,000 | |||||||||||
Senior Care Centers Sale Facilities | ||||||||||||
Real Estate Properties [Line Items] | ||||||||||||
Impairment of real state, related to indemnity | 10,200,000 | |||||||||||
Contractual indemnification obligation | $ 8,800,000 | $ 8,800,000 | $ 8,800,000 | |||||||||
Senior Care Centers | ||||||||||||
Real Estate Properties [Line Items] | ||||||||||||
Litigation settlement, amount awarded from other party | $ 9,500,000 | |||||||||||
Senior Care Centers | 2019 Dispositions | Disposal Group, Disposed of by Sale, Not Discontinued Operations | ||||||||||||
Real Estate Properties [Line Items] | ||||||||||||
Number of properties sold | facility | 28 | |||||||||||
Senior Care Centers | 2019 Dispositions | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Subsequent Event | ||||||||||||
Real Estate Properties [Line Items] | ||||||||||||
Number of properties sold | facility | 2 | |||||||||||
Senior Care Centers | Senior Care Centers Sale Facilities | ||||||||||||
Real Estate Properties [Line Items] | ||||||||||||
Aggregate sales price | $ 282,500,000 | |||||||||||
Senior Housing - Managed | ||||||||||||
Real Estate Properties [Line Items] | ||||||||||||
Senior housing communities subject to the master lease | facility | 21 | |||||||||||
Skilled Nursing/Transitional Care | Disposal Group, Disposed of by Sale, Not Discontinued Operations | ||||||||||||
Real Estate Properties [Line Items] | ||||||||||||
Impairment of real estate | $ 900,000 | |||||||||||
Skilled Nursing/Transitional Care | 2019 Dispositions | Disposal Group, Disposed of by Sale, Not Discontinued Operations | ||||||||||||
Real Estate Properties [Line Items] | ||||||||||||
Number of properties sold | facility | 5 | 39 | ||||||||||
Skilled Nursing/Transitional Care | Senior Care Centers Sale Facilities | ||||||||||||
Real Estate Properties [Line Items] | ||||||||||||
Number of properties sold | facility | 26 | 1 | ||||||||||
Number of real estate properties transitioned | facility | 8 | |||||||||||
Skilled Nursing/Transitional Care | Senior Care Centers Sale Facilities | Subsequent Event | ||||||||||||
Real Estate Properties [Line Items] | ||||||||||||
Number of properties sold | facility | 1 | 2 | ||||||||||
Senior Housing Communities | 2019 Dispositions | Disposal Group, Disposed of by Sale, Not Discontinued Operations | ||||||||||||
Real Estate Properties [Line Items] | ||||||||||||
Number of properties sold | facility | 7 | |||||||||||
Senior Housing Communities | Senior Care Centers Sale Facilities | ||||||||||||
Real Estate Properties [Line Items] | ||||||||||||
Number of properties sold | facility | 2 | |||||||||||
Operating Segments | ||||||||||||
Real Estate Properties [Line Items] | ||||||||||||
Number of properties | facility | 429 | 429 | 429 | 470 | ||||||||
Operating Segments | Senior Housing - Managed | ||||||||||||
Real Estate Properties [Line Items] | ||||||||||||
Number of properties | facility | 46 | 46 | 46 | 23 |
REAL ESTATE PROPERTIES HELD F_5
REAL ESTATE PROPERTIES HELD FOR INVESTMENT - Future Minimum Rental Payments from Non-Cancelable Operating Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Future minimum rental payments from the Company’s properties held for investment under non-cancelable operating leases: | ||
2020 | $ 428,101 | |
2021 | 427,791 | |
2022 | 404,568 | |
2023 | 389,810 | |
2024 | 380,944 | |
Thereafter | 1,672,008 | |
Total | $ 3,703,222 | |
Future minimum rental payments from the Company’s properties held for investment under non-cancelable operating leases: | ||
2019 | $ 465,766 | |
2020 | 456,207 | |
2021 | 452,346 | |
2022 | 454,216 | |
2023 | 437,277 | |
Thereafter | 2,407,064 | |
Total | $ 4,672,876 |
IMPAIRMENT OF REAL ESTATE AND_2
IMPAIRMENT OF REAL ESTATE AND DISPOSITIONS (Details) | Apr. 01, 2019facility | Dec. 31, 2019USD ($)facility | Jan. 31, 2020facility | Dec. 31, 2019USD ($)facility | Dec. 31, 2018USD ($)facility | Dec. 31, 2017USD ($)facility |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Impairment losses on real estate investments | $ 121,819,000 | $ 1,413,000 | $ 1,326,000 | |||
Skilled Nursing Transitional Care Facilities and Senior Housing Facilities | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Impairment losses on real estate investments | $ 26,600,000 | |||||
Skilled Nursing/Transitional Care | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Number of real estate properties impaired | facility | 6 | |||||
Senior Housing Communities | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Number of real estate properties impaired | facility | 4 | |||||
Disposed by Sale | Skilled Nursing/Transitional Care | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Number of real estate properties impaired | facility | 1 | |||||
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Skilled Nursing/Transitional Care | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Impairment losses on real estate investments | $ 900,000 | |||||
Number of properties with impairment | facility | 1 | |||||
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Senior Housing Communities | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Number of properties with impairment | facility | 1 | |||||
2019 Dispositions | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Impairment losses on real estate investments | $ 95,200,000 | |||||
2019 Dispositions | Senior Care Centers Facilities | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Number of real estate properties impaired | facility | 3 | |||||
2019 Dispositions | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Skilled Nursing Transitional Care Facilities and Senior Housing Facilities | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Aggregate consideration received | $ 323,600,000 | $ 323,600,000 | ||||
Carrying value of assets and liabilities received | $ 321,300,000 | 321,300,000 | ||||
Gain (loss) on sale | 2,300,000 | |||||
Net income (loss) on discontinued operations | $ 2,200,000 | $ 19,100,000 | $ 13,000,000 | |||
2019 Dispositions | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Skilled Nursing/Transitional Care | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Number of properties sold | facility | 5 | 39 | ||||
2019 Dispositions | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Senior Housing Communities | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Number of properties sold | facility | 7 | |||||
2018 Dispositions | Disposal Group, Disposed of by Sale, Not Discontinued Operations | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Aggregate consideration received | 382,600,000 | |||||
Carrying value of assets and liabilities received | 254,400,000 | |||||
Gain (loss) on sale | 128,200,000 | |||||
Net income (loss) on discontinued operations | $ 23,600,000 | 47,100,000 | ||||
2018 Dispositions | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Skilled Nursing/Transitional Care | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Number of properties sold | facility | 51 | |||||
2018 Dispositions | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Senior Housing Communities | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Impairment losses on real estate investments | $ 500,000 | |||||
Number of properties sold | facility | 6 | |||||
Number of properties with impairment | facility | 1 | |||||
2018 Dispositions | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Senior Housing - Managed | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Number of properties sold | facility | 1 | |||||
2017 Dispositions | Disposed by Sale | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Aggregate consideration received | 150,200,000 | |||||
Carrying value of assets and liabilities received | 98,200,000 | |||||
Gain (loss) on sale | $ 52,000,000 | |||||
2017 Dispositions | Disposed by Sale | Skilled Nursing/Transitional Care | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Number of properties sold | facility | 31 | |||||
2017 Dispositions | Disposed by Sale | Senior Nursing Facilities and Land | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Net income (loss) on discontinued operations | $ 12,600,000 | |||||
Senior Care Centers | 2019 Dispositions | Disposal Group, Disposed of by Sale, Not Discontinued Operations | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Number of properties sold | facility | 28 | |||||
Senior Care Centers | 2019 Dispositions | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Subsequent Event | ||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||
Number of properties sold | facility | 2 |
INTANGIBLE ASSETS AND LIABILI_3
INTANGIBLE ASSETS AND LIABILITIES - Summary of Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Lease Intangible Assets: | ||
Gross lease intangible assets | $ 139,424 | $ 161,831 |
Accumulated amortization | (37,915) | (30,734) |
Lease intangible assets, net | 101,509 | 131,097 |
Lease Intangible Liabilities: | ||
Below market leases | 99,133 | 102,098 |
Accumulated amortization | (29,187) | (18,372) |
Lease intangible liabilities, net | 69,946 | 83,726 |
Above market leases | ||
Lease Intangible Assets: | ||
Gross lease intangible assets | 51,040 | 61,572 |
Tenant origination and absorption costs | ||
Lease Intangible Assets: | ||
Gross lease intangible assets | 65,234 | 73,323 |
Tenant relationship | ||
Lease Intangible Assets: | ||
Gross lease intangible assets | $ 23,150 | $ 26,936 |
INTANGIBLE ASSETS AND LIABILI_4
INTANGIBLE ASSETS AND LIABILITIES - Summary of Real Estate Intangible Amortization (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Increase (decrease) to rental income related to above/below market leases, net | |||
Finite-Lived Intangible Assets | |||
Increase (decrease) to rental income related to above/below market leases, net | $ 508 | $ (7,701) | $ 912 |
Depreciation and amortization related to tenant origination and absorption costs and tenant relationship | |||
Finite-Lived Intangible Assets | |||
Depreciation and amortization related to tenant origination and absorption costs and tenant relationship | $ (17,674) | $ (16,118) | $ (11,822) |
INTANGIBLE ASSETS AND LIABILI_5
INTANGIBLE ASSETS AND LIABILITIES - Remaining Unamortized Balance for Outstanding Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Finite-Lived Intangible Assets | ||
Lease intangible assets, net | $ 101,509 | $ 131,097 |
Lease Intangible Assets | ||
Finite-Lived Intangible Assets | ||
2020 | 14,140 | |
2021 | 11,782 | |
2022 | 11,441 | |
2023 | 9,702 | |
2024 | 9,061 | |
Thereafter | 45,383 | |
Lease intangible assets, net | $ 101,509 | |
Lease Intangible Assets | Weighted Average | ||
Finite-Lived Intangible Assets | ||
Weighted-average remaining amortization period | 10 years 6 months | |
Lease Intangible Liabilities | ||
Finite-Lived Intangible Assets | ||
2020 | $ 12,221 | |
2021 | 8,012 | |
2022 | 7,269 | |
2023 | 7,269 | |
2024 | 7,168 | |
Thereafter | 28,007 | |
Lease intangible assets, net | $ 69,946 | |
Lease Intangible Liabilities | Weighted Average | ||
Finite-Lived Intangible Assets | ||
Weighted-average remaining amortization period | 8 years 10 months 24 days |
LOANS RECEIVABLE AND OTHER IN_3
LOANS RECEIVABLE AND OTHER INVESTMENTS - Loans Receivable and Other Investments (Details) $ in Thousands | Dec. 31, 2019USD ($)Investment | Dec. 31, 2018USD ($) |
Loans Receivable: | ||
Quantity | Investment | 18 | |
Principal Balance | $ 67,527 | $ 96,492 |
Book Value | $ 63,634 | 70,718 |
Weighted Average Contractual Interest Rate / Rate of Return | 7.80% | |
Weighted Average Annualized Effective Interest Rate / Rate of Return | 7.90% | |
Loan loss reserve | $ (564) | (1,258) |
Loans Receivable, Net Amount | $ 63,070 | 69,460 |
Preferred Equity | ||
Quantity | Investment | 9 | |
Principal Balance | $ 43,893 | 43,851 |
Book Value | $ 44,304 | 44,262 |
Weighted Average Contractual Interest Rate / Rate of Return | 12.00% | |
Weighted Average Annualized Effective Interest Rate / Rate of Return | 12.00% | |
Total Quantity | Investment | 27 | |
Total Principal Balance | $ 111,420 | |
Total Book Value | $ 107,374 | 113,722 |
Total Weighted Average Contractual Interest Rate / Rate of Return | 9.40% | |
Total Weighted Average Annualized Effective Interest Rate / Rate of Return | 9.60% | |
Mortgage | ||
Loans Receivable: | ||
Quantity | Investment | 1 | |
Principal Balance | $ 19,000 | |
Book Value | $ 19,000 | 18,577 |
Weighted Average Contractual Interest Rate / Rate of Return | 10.00% | |
Weighted Average Annualized Effective Interest Rate / Rate of Return | 10.00% | |
Construction | ||
Loans Receivable: | ||
Quantity | Investment | 1 | |
Principal Balance | $ 2,468 | |
Book Value | $ 2,487 | 4,629 |
Weighted Average Contractual Interest Rate / Rate of Return | 8.00% | |
Weighted Average Annualized Effective Interest Rate / Rate of Return | 7.80% | |
Mezzanine | ||
Loans Receivable: | ||
Quantity | Investment | 0 | |
Principal Balance | $ 0 | |
Book Value | $ 0 | 2,188 |
Other | ||
Loans Receivable: | ||
Quantity | Investment | 16 | |
Principal Balance | $ 46,059 | |
Book Value | $ 42,147 | $ 45,324 |
Weighted Average Contractual Interest Rate / Rate of Return | 6.80% | |
Weighted Average Annualized Effective Interest Rate / Rate of Return | 7.00% |
LOANS RECEIVABLE AND OTHER IN_4
LOANS RECEIVABLE AND OTHER INVESTMENTS - Narrative (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($)loan | Dec. 31, 2018USD ($)loan | Dec. 31, 2017USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Book value of loans | $ 67,527 | $ 96,492 | |
Loan loss reserve | $ 564 | $ 1,258 | |
Loan receivable investment with recognized interest income | loan | 1 | ||
Book value of loan receivable investment with recognized interest income | $ 4,300 | ||
Nonperforming Financial Instruments | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Number of impaired loans | loan | 0 | 1 | |
Number of loans on nonaccrual status | loan | 2 | 2 | |
Value of loans on nonaccrual status | $ 0 | $ 1,300 | |
Principal balance of impaired loan | 1,300 | $ 1,400 | |
Portfolio-Based Loan Receivable | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Increase (decrease) in provision | 4 | 500 | |
Loan loss reserve | 600 | 600 | |
Specific Loans | Nonperforming Financial Instruments | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Provision for loan losses | 1,200 | 700 | |
Loan loss reserve | $ 0 | $ 700 | |
Receivables Acquired with Deteriorated Credit Quality | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Number of impaired loans | loan | 4 | 7 | |
Book value of loans | $ 2,300 | $ 27,700 | |
Outstanding principal balance | $ 800 | $ 4,200 | |
Number of loans with deteriorated credit quality repaid | loan | 3 |
LOANS RECEIVABLE AND OTHER IN_5
LOANS RECEIVABLE AND OTHER INVESTMENTS - Changes in Accretable Yield (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||
Accretable yield, beginning of period | $ 449 | $ 2,483 |
Accretion recognized in earnings | (377) | (2,761) |
Reduction due to payoff | (33) | 0 |
Net reclassification from nonaccretable difference | 0 | 727 |
Accretable yield, end of period | $ 39 | $ 449 |
DEBT - Secured Debt (Details)
DEBT - Secured Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Debt Instrument [Line Items] | ||
Deferred financing costs, net | $ 21,313 | |
Secured Debt | ||
Debt Instrument [Line Items] | ||
Deferred financing costs, net | 1,707 | $ 1,800 |
Secured Debt | Fixed Rate | ||
Debt Instrument [Line Items] | ||
Principal, fixed rate | $ 114,777 | $ 117,464 |
Weighted average effective interest rate | 3.67% |
DEBT - Narrative (Details)
DEBT - Narrative (Details) | Oct. 27, 2019USD ($) | Oct. 07, 2019USD ($) | Sep. 09, 2019USD ($)extension_option | Jun. 29, 2019USD ($) | May 29, 2019USD ($) | Aug. 17, 2017USD ($)extension_option | Dec. 31, 2019USD ($)instrument | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2019CAD ($)instrument | Sep. 09, 2019CAD ($)extension_option | Aug. 17, 2017CAD ($)extension_option | Aug. 10, 2016USD ($)agreement | Aug. 10, 2016CAD ($)agreement | Jun. 10, 2015CAD ($) | Oct. 10, 2014USD ($) | Jan. 23, 2014USD ($) | May 23, 2013USD ($) |
Debt Instrument [Line Items] | ||||||||||||||||||
Proceeds from issuance of senior unsecured notes | $ 638,779,000 | $ 0 | $ 0 | |||||||||||||||
Loss on extinguishment of debt | 16,340,000 | 2,917,000 | 553,000 | |||||||||||||||
Repayments of fixed rate secured debt | 3,436,000 | 140,338,000 | 4,145,000 | |||||||||||||||
Payment for debt extinguishment or debt prepayment cost | 10,502,000 | 2,043,000 | 0 | |||||||||||||||
Revolving credit facility | 0 | 624,000,000 | ||||||||||||||||
Term loans, net | 1,040,258,000 | 1,184,930,000 | ||||||||||||||||
Interest expense | 126,610,000 | 147,106,000 | 88,440,000 | |||||||||||||||
Non-cash interest expense | 10,080,000 | 10,137,000 | $ 7,776,000 | |||||||||||||||
Interest payable | 16,700,000 | 24,000,000 | ||||||||||||||||
Secured Indebtedness | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Debt amount | 114,777,000 | 117,464,000 | ||||||||||||||||
Loss on extinguishment of debt | 900,000 | |||||||||||||||||
Repayments of fixed rate secured debt | 37,600,000 | |||||||||||||||||
Senior Notes | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Debt amount | 1,250,000,000 | 1,300,000,000 | ||||||||||||||||
Care Capital Properties | U.S. Dollar Term Loan | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Debt amount | $ 600,000,000 | |||||||||||||||||
Care Capital Properties | Interest Rate Swap | U.S. Dollar Term Loan | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Interest rate swap, fixed | 1.31% | 1.31% | ||||||||||||||||
Derivative instruments | instrument | 8 | 8 | ||||||||||||||||
Variable Rate Secured Term Loan | Care Capital Properties | Secured Indebtedness | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Debt amount | 98,500,000 | |||||||||||||||||
Loss on extinguishment of debt | $ 2,000,000 | |||||||||||||||||
5.5% Senior Unsecured Notes due 2021 | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Interest rate | 5.50% | 5.50% | 5.50% | |||||||||||||||
5.5% Senior Unsecured Notes due 2021 | Senior Notes | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Loss on extinguishment of debt | $ 10,100,000 | |||||||||||||||||
Debt instrument, repurchase amount | $ 500,000,000 | |||||||||||||||||
Debt instrument, redemption price, percentage of principal amount redeemed | 101.375% | |||||||||||||||||
Payment for debt extinguishment or debt prepayment cost | 6,900,000 | |||||||||||||||||
Write off of deferred debt issuance cost | $ 3,200,000 | |||||||||||||||||
5.5% Senior Unsecured Notes due 2021 (Issued January 2014) | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Interest rate | 5.50% | |||||||||||||||||
Debt amount | $ 350,000,000 | |||||||||||||||||
5.5% Senior Unsecured Notes due 2021 (Issued October 2014) | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Interest rate | 5.50% | |||||||||||||||||
Debt amount | $ 150,000,000 | |||||||||||||||||
5.375% Senior Unsecured Notes due 2023 | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Interest rate | 5.375% | 5.375% | 5.375% | |||||||||||||||
Debt amount | $ 200,000,000 | |||||||||||||||||
5.375% Senior Unsecured Notes due 2023 | Senior Notes | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Debt amount | $ 200,000,000 | |||||||||||||||||
Loss on extinguishment of debt | $ 5,600,000 | |||||||||||||||||
Debt instrument, redemption price, percentage of principal amount redeemed | 101.792% | |||||||||||||||||
Payment for debt extinguishment or debt prepayment cost | 3,600,000 | |||||||||||||||||
Write off of deferred debt issuance cost | $ 2,000,000 | |||||||||||||||||
4.80% Senior Unsecured Notes due 2024 | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Required ratio of total unencumbered assets to unsecured debt | 150.00% | |||||||||||||||||
4.80% Senior Unsecured Notes due 2024 | Senior Notes | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Interest rate | 4.80% | 4.80% | 4.80% | |||||||||||||||
Proceeds from issuance of senior unsecured notes | $ 295,300,000 | |||||||||||||||||
Debt amount | $ 300,000,000 | |||||||||||||||||
4.80% Senior Unsecured Notes due 2024 | Senior Notes | Redemption Period One | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Debt instrument, redemption price, percentage | 100.00% | |||||||||||||||||
4.80% Senior Unsecured Notes due 2024 | Senior Notes | Redemption Period Two | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Debt instrument, redemption price, percentage | 100.00% | |||||||||||||||||
5.125% Senior Unsecured Notes due 2026 | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Interest rate | 5.125% | 5.125% | 5.125% | 5.125% | ||||||||||||||
Debt instrument, redemption price, percentage | 100.00% | |||||||||||||||||
Required ratio of total unencumbered assets to unsecured debt | 150.00% | |||||||||||||||||
Debt amount | $ 500,000,000 | |||||||||||||||||
5.38% Senior Unsecured Notes due 2027 | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Interest rate | 5.38% | 5.38% | 5.38% | 5.38% | ||||||||||||||
Debt instrument, redemption price, percentage | 100.00% | |||||||||||||||||
Debt amount | $ 100,000,000 | |||||||||||||||||
3.90% Senior Unsecured Notes due 2029 | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Required ratio of total unencumbered assets to unsecured debt | 150.00% | |||||||||||||||||
3.90% Senior Unsecured Notes due 2029 | Senior Notes | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Interest rate | 3.90% | 3.90% | 3.90% | |||||||||||||||
Proceeds from issuance of senior unsecured notes | $ 340,500,000 | |||||||||||||||||
Debt amount | $ 350,000,000 | |||||||||||||||||
3.90% Senior Unsecured Notes due 2029 | Senior Notes | Redemption Period One | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Debt instrument, redemption price, percentage | 100.00% | |||||||||||||||||
3.90% Senior Unsecured Notes due 2029 | Senior Notes | Redemption Period Two | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Debt instrument, redemption price, percentage | 100.00% | |||||||||||||||||
2016 Credit Agreement | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Loss on extinguishment of debt | 600,000 | |||||||||||||||||
Fourth Amended and Restated Credit Agreement | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Loss on extinguishment of debt | $ 600,000 | |||||||||||||||||
Fourth Amended and Restated Credit Agreement | U.S. Dollar Term Loan | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Debt amount | 1,100,000,000 | |||||||||||||||||
Fourth Amended and Restated Credit Agreement | U.S. Dollar Term Loan | Redemption Period Two | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Debt amount | $ 200,000,000 | |||||||||||||||||
Fourth Amended and Restated Credit Agreement | U.S. Dollar Term Loan | Base Rate | Minimum | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Basis spread on variable rate | 0.00% | |||||||||||||||||
Fourth Amended and Restated Credit Agreement | U.S. Dollar Term Loan | Base Rate | Maximum | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Basis spread on variable rate | 0.90% | |||||||||||||||||
Fourth Amended and Restated Credit Agreement | U.S. Dollar Term Loan | LIBOR | Minimum | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Basis spread on variable rate | 0.90% | |||||||||||||||||
Fourth Amended and Restated Credit Agreement | U.S. Dollar Term Loan | LIBOR | Maximum | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Basis spread on variable rate | 1.90% | |||||||||||||||||
Fourth Amended and Restated Credit Agreement | Canadian Dollar Term Loan | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Debt amount | $ 125,000,000 | |||||||||||||||||
Fourth Amended and Restated Credit Agreement | Canadian Dollar Term Loan | CDOR | Minimum | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Basis spread on variable rate | 0.90% | |||||||||||||||||
Fourth Amended and Restated Credit Agreement | Canadian Dollar Term Loan | CDOR | Maximum | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Basis spread on variable rate | 1.90% | |||||||||||||||||
Fourth Amended and Restated Credit Agreement | Revolving Credit Facility | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Borrowing capacity in certain foreign currencies (up to) | $ 175,000,000 | |||||||||||||||||
Borrowing capacity (up to) | $ 1,000,000,000 | |||||||||||||||||
Number of optional extensions | extension_option | 2 | 2 | ||||||||||||||||
Optional extension period | 6 months | |||||||||||||||||
Fourth Amended and Restated Credit Agreement | Revolving Credit Facility | Minimum | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Annum percent unused borrowing fee | 0.125% | |||||||||||||||||
Fourth Amended and Restated Credit Agreement | Revolving Credit Facility | Maximum | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Annum percent unused borrowing fee | 0.30% | |||||||||||||||||
Fourth Amended and Restated Credit Agreement | Revolving Credit Facility | Federal Funds Rate | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Basis spread on variable rate | 0.50% | |||||||||||||||||
Fourth Amended and Restated Credit Agreement | Revolving Credit Facility | Base Rate | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Basis spread on variable rate | 1.00% | |||||||||||||||||
Fourth Amended and Restated Credit Agreement | Revolving Credit Facility | Base Rate | Minimum | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Basis spread on variable rate | 0.00% | |||||||||||||||||
Fourth Amended and Restated Credit Agreement | Revolving Credit Facility | Base Rate | Maximum | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Basis spread on variable rate | 0.65% | |||||||||||||||||
Fourth Amended and Restated Credit Agreement | Revolving Credit Facility | LIBOR | Minimum | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Basis spread on variable rate | 0.875% | |||||||||||||||||
Fourth Amended and Restated Credit Agreement | Revolving Credit Facility | LIBOR | Maximum | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Basis spread on variable rate | 1.65% | |||||||||||||||||
Fourth Amended and Restated Credit Agreement | Line of Credit | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Borrowing capacity (up to) | $ 2,500,000,000 | |||||||||||||||||
Fifth Amended and Restated Credit Agreement | U.S. Dollar Term Loan | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Debt amount | 1,100,000,000 | $ 245,000,000 | ||||||||||||||||
Term loans, net | $ 955,000,000 | |||||||||||||||||
Fifth Amended and Restated Credit Agreement | U.S. Dollar Term Loan | Redemption Period One | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Debt amount | 250,000,000 | |||||||||||||||||
Fifth Amended and Restated Credit Agreement | U.S. Dollar Term Loan | Redemption Period Two | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Debt amount | $ 350,000,000 | |||||||||||||||||
Fifth Amended and Restated Credit Agreement | U.S. Dollar Term Loan | Base Rate | Minimum | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Basis spread on variable rate | 0.00% | |||||||||||||||||
Fifth Amended and Restated Credit Agreement | U.S. Dollar Term Loan | Base Rate | Maximum | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Basis spread on variable rate | 0.65% | |||||||||||||||||
Fifth Amended and Restated Credit Agreement | U.S. Dollar Term Loan | LIBOR | Minimum | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Basis spread on variable rate | 0.85% | |||||||||||||||||
Fifth Amended and Restated Credit Agreement | U.S. Dollar Term Loan | LIBOR | Maximum | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Basis spread on variable rate | 1.65% | |||||||||||||||||
Fifth Amended and Restated Credit Agreement | Canadian Dollar Term Loan | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Debt amount | $ 125,000,000 | $ 35,000,000 | $ 90,000,000 | |||||||||||||||
Interest rate swap, fixed | 1.59% | |||||||||||||||||
Term loans, net | $ 125,000,000 | |||||||||||||||||
Fifth Amended and Restated Credit Agreement | Canadian Dollar Term Loan | CDOR | Minimum | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Basis spread on variable rate | 0.85% | |||||||||||||||||
Fifth Amended and Restated Credit Agreement | Canadian Dollar Term Loan | CDOR | Maximum | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Basis spread on variable rate | 1.65% | |||||||||||||||||
Fifth Amended and Restated Credit Agreement | Revolving Credit Facility | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Borrowing capacity in certain foreign currencies (up to) | $ 175,000,000 | |||||||||||||||||
Borrowing capacity (up to) | $ 1,000,000,000 | |||||||||||||||||
Number of optional extensions | extension_option | 2 | 2 | ||||||||||||||||
Optional extension period | 6 months | |||||||||||||||||
Interest rate | 2.91% | 2.91% | ||||||||||||||||
Revolving credit facility | $ 0 | |||||||||||||||||
Available borrowing capacity | $ 1,000,000,000 | |||||||||||||||||
Fifth Amended and Restated Credit Agreement | Revolving Credit Facility | Minimum | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Annum percent unused borrowing fee | 0.125% | |||||||||||||||||
Fifth Amended and Restated Credit Agreement | Revolving Credit Facility | Maximum | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Annum percent unused borrowing fee | 0.30% | |||||||||||||||||
Fifth Amended and Restated Credit Agreement | Revolving Credit Facility | Base Rate | Minimum | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Basis spread on variable rate | 0.00% | |||||||||||||||||
Fifth Amended and Restated Credit Agreement | Revolving Credit Facility | Base Rate | Maximum | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Basis spread on variable rate | 0.45% | |||||||||||||||||
Fifth Amended and Restated Credit Agreement | Revolving Credit Facility | LIBOR | Minimum | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Basis spread on variable rate | 0.775% | |||||||||||||||||
Fifth Amended and Restated Credit Agreement | Revolving Credit Facility | LIBOR | Maximum | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Basis spread on variable rate | 1.45% | |||||||||||||||||
Fifth Amended and Restated Credit Agreement | Line of Credit | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Borrowing capacity (up to) | $ 2,750,000,000 | |||||||||||||||||
Fifth Amended and Restated Credit Agreement | Interest Rate Swap | U.S. Dollar Term Loan | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Interest rate swap, fixed | 0.90% | 0.90% | ||||||||||||||||
Derivative instruments | agreement | 2 | 2 | ||||||||||||||||
Fifth Amended and Restated Credit Agreement | Interest Rate Swap | Canadian Dollar Term Loan | ||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||
Interest rate swap, fixed | 0.93% | 0.93% | ||||||||||||||||
Derivative instruments | agreement | 1 | 1 |
DEBT - Senior Unsecured Notes (
DEBT - Senior Unsecured Notes (Details) - USD ($) | Dec. 31, 2019 | Oct. 07, 2019 | May 29, 2019 | Dec. 31, 2018 | Aug. 17, 2017 | Jan. 23, 2014 | May 23, 2013 |
Debt Instrument [Line Items] | |||||||
Deferred financing costs, net | $ 21,313,000 | ||||||
5.5% senior unsecured notes due 2021 (“2021 Notes”) | |||||||
Debt Instrument [Line Items] | |||||||
Principal balance | $ 0 | $ 500,000,000 | |||||
Interest rate | 5.50% | 5.50% | |||||
5.375% senior unsecured notes due 2023 (“2023 Notes”) | |||||||
Debt Instrument [Line Items] | |||||||
Principal balance | $ 0 | 200,000,000 | |||||
Interest rate | 5.375% | 5.375% | |||||
5.125% senior unsecured notes due 2026 (“2026 Notes”) | |||||||
Debt Instrument [Line Items] | |||||||
Principal balance | $ 500,000,000 | 500,000,000 | |||||
Interest rate | 5.125% | 5.125% | |||||
5.38% senior unsecured notes due 2027 (“2027 Notes”) | |||||||
Debt Instrument [Line Items] | |||||||
Principal balance | $ 100,000,000 | 100,000,000 | |||||
Interest rate | 5.38% | 5.38% | |||||
Senior Notes | |||||||
Debt Instrument [Line Items] | |||||||
Principal balance | $ 1,250,000,000 | 1,300,000,000 | |||||
Premium, net | 7,600,000 | 14,500,000 | |||||
Deferred financing costs, net | 8,839,000 | 7,100,000 | |||||
Senior Notes | 4.80% senior unsecured notes due 2024 (“2024 Notes”) | |||||||
Debt Instrument [Line Items] | |||||||
Principal balance | $ 300,000,000 | 0 | |||||
Interest rate | 4.80% | 4.80% | |||||
Senior Notes | 3.90% senior unsecured notes due 2029 (“2029 Notes”) | |||||||
Debt Instrument [Line Items] | |||||||
Principal balance | $ 350,000,000 | $ 0 | |||||
Interest rate | 3.90% | 3.90% |
DEBT - Schedule of Maturities o
DEBT - Schedule of Maturities of Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Debt Instrument [Line Items] | ||
2020 | $ 3,568 | |
2021 | 18,853 | |
2022 | 108,198 | |
2023 | 353,296 | |
2024 | 899,421 | |
Thereafter | 1,032,466 | |
Total debt | 2,415,802 | |
Premium, net | 7,612 | |
Deferred financing costs, net | (21,313) | |
Total Debt, Net | 2,402,101 | |
Secured Indebtedness | ||
Debt Instrument [Line Items] | ||
2020 | 3,568 | |
2021 | 18,853 | |
2022 | 3,198 | |
2023 | 3,296 | |
2024 | 3,396 | |
Thereafter | 82,466 | |
Total debt | 114,777 | |
Premium, net | 0 | |
Deferred financing costs, net | (1,707) | $ (1,800) |
Total Debt, Net | 113,070 | |
Term Loans | ||
Debt Instrument [Line Items] | ||
2020 | 0 | |
2021 | 0 | |
2022 | 105,000 | |
2023 | 350,000 | |
2024 | 596,025 | |
Thereafter | 0 | |
Total debt | 1,051,025 | |
Premium, net | 0 | |
Deferred financing costs, net | (10,767) | |
Total Debt, Net | 1,040,258 | |
Senior Notes | ||
Debt Instrument [Line Items] | ||
2020 | 0 | |
2021 | 0 | |
2022 | 0 | |
2023 | 0 | |
2024 | 300,000 | |
Thereafter | 950,000 | |
Total debt | 1,250,000 | |
Premium, net | 7,612 | |
Deferred financing costs, net | (8,839) | $ (7,100) |
Total Debt, Net | $ 1,248,773 |
DERIVATIVE AND HEDGING INSTRU_3
DERIVATIVE AND HEDGING INSTRUMENTS - Narrative (Details) | 1 Months Ended | 12 Months Ended | ||||
May 31, 2019USD ($)derivative | Dec. 31, 2019USD ($)derivative | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2019CAD ($)derivative | Dec. 31, 2018CAD ($) | |
Derivative [Line Items] | ||||||
Interest | $ 126,610,000 | $ 147,106,000 | $ 88,440,000 | |||
Fair value of derivatives in a net liability position | 626,000 | 4,529,000 | ||||
Forward Starting Interest Rate Swaps | ||||||
Derivative [Line Items] | ||||||
Number of derivative contracts terminated | derivative | 3 | |||||
Payments for termination of derivative instruments | $ 12,600,000 | |||||
Credit-Risk-Related Contingent Features | ||||||
Derivative [Line Items] | ||||||
Fair value of derivatives in a net liability position | 100,000 | |||||
Termination value | 100,000 | |||||
Cash Flow Hedges | Interest Rate Swap | ||||||
Derivative [Line Items] | ||||||
Hedge ineffectiveness recorded in earnings | 0 | 0 | 22,000 | |||
Designated as Hedging Instrument | ||||||
Derivative [Line Items] | ||||||
Fair value of derivatives in a net liability position | 96,651,000 | 96,229,000 | ||||
Designated as Hedging Instrument | Cash Flow Hedges | ||||||
Derivative [Line Items] | ||||||
Losses included in accumulated other comprehensive loss | 1,200,000 | |||||
Notional amount | $ 1,490,000,000 | 1,045,000,000 | ||||
Designated as Hedging Instrument | Cash Flow Hedges | Cross Currency Interest Rate Swaps | ||||||
Derivative [Line Items] | ||||||
Notional amount | $ 125,000,000 | $ 125,000,000 | ||||
Not Designated as Hedging Instrument | Cross Currency Interest Rate Swaps | ||||||
Derivative [Line Items] | ||||||
Derivative instruments | derivative | 1 | 1 | ||||
Fair value of derivative asset | $ 105,000 | |||||
Other income (expense) | $ 5,000 | $ 34,000 | $ (8,000) |
DERIVATIVE AND HEDGING INSTRU_4
DERIVATIVE AND HEDGING INSTRUMENTS - Notional Amounts of Derivative Instruments (Details) | Jan. 31, 2023USD ($) | Dec. 31, 2019USD ($)derivative | Dec. 31, 2019CAD ($)derivative | Dec. 31, 2018USD ($) | Dec. 31, 2018CAD ($) |
Not Designated as Hedging Instrument | Cross Currency Interest Rate Swaps | |||||
Derivative [Line Items] | |||||
Derivative instruments | derivative | 1 | 1 | |||
Cash Flow Hedges | Designated as Hedging Instrument | |||||
Derivative [Line Items] | |||||
Notional amount | $ 1,490,000,000 | $ 1,045,000,000 | |||
Cash Flow Hedges | Designated as Hedging Instrument | Forward Starting Interest Rate Swaps - Effective August 2020 | |||||
Derivative [Line Items] | |||||
Derivative instruments | derivative | 4 | 4 | |||
Cash Flow Hedges | Designated as Hedging Instrument | Cross Currency Interest Rate Swaps | |||||
Derivative [Line Items] | |||||
Notional amount | $ 125,000,000 | $ 125,000,000 | |||
Cash Flow Hedges | Designated as Hedging Instrument | Forward Starting Interest Rate Collar - Effective August 2020 | |||||
Derivative [Line Items] | |||||
Derivative instruments | derivative | 1 | 1 | |||
Cash Flow Hedges | Designated as Hedging Instrument | Forward Starting Interest Rate Swaps - Effective January 2021 | |||||
Derivative [Line Items] | |||||
Derivative instruments | derivative | 2 | 2 | |||
Cash Flow Hedges | Designated as Hedging Instrument | Forward Starting Interest Rate Collar - Effective January 2021 | |||||
Derivative [Line Items] | |||||
Derivative instruments | derivative | 1 | 1 | |||
Cash Flow Hedges | Designated as Hedging Instrument | Forward Starting Interest Rate Swaps And Forward Starting Interest Rate Collars | |||||
Derivative [Line Items] | |||||
Notional amount | $ 645,000,000 | ||||
Cash Flow Hedges | Designated as Hedging Instrument | Forward Starting Interest Rate Swaps And Forward Starting Interest Rate Collars | Forecast | |||||
Derivative [Line Items] | |||||
Notional amount | $ 845,000,000 | ||||
Net Investment Hedges | Designated as Hedging Instrument | |||||
Derivative [Line Items] | |||||
Notional amount | $ 125,000,000 | 125,000,000 | |||
Net Investment Hedges | Designated as Hedging Instrument | Cross Currency Interest Rate Swaps | |||||
Derivative [Line Items] | |||||
Notional amount | 54,489,000 | 55,401,000 | |||
Net Investment Hedges | Not Designated as Hedging Instrument | Cross Currency Interest Rate Swaps | |||||
Derivative [Line Items] | |||||
Notional amount | $ 1,811,000 | $ 899,000 |
DERIVATIVE AND HEDGING INSTRU_5
DERIVATIVE AND HEDGING INSTRUMENTS - Summary of Derivative and Financial Instruments Designated as Hedging Instruments (Details) $ in Thousands | Dec. 31, 2019USD ($)instrument | Dec. 31, 2018USD ($) |
Asset: | ||
Fair value | $ 7,477 | $ 29,344 |
Liability: | ||
Fair value | 626 | 4,529 |
Designated as Hedging Instrument | ||
Asset: | ||
Fair value | 7,477 | 29,344 |
Liability: | ||
Fair value | $ 96,651 | 96,229 |
Designated as Hedging Instrument | Interest rate swaps | Cash flow | Accounts receivable, prepaid expenses and other assets, net | ||
Asset: | ||
Count | instrument | 10 | |
Fair value | $ 4,239 | 25,184 |
Designated as Hedging Instrument | Interest rate swaps | Cash flow | Accounts payable and accrued liabilities | ||
Liability: | ||
Count | instrument | 6 | |
Fair value | $ 494 | 4,529 |
Designated as Hedging Instrument | Forward Starting Interest Rate Collar | Cash flow | Accounts payable and accrued liabilities | ||
Liability: | ||
Count | instrument | 2 | |
Fair value | $ 132 | 0 |
Designated as Hedging Instrument | Cross currency interest rate swaps | Net investment | Accounts receivable, prepaid expenses and other assets, net | ||
Asset: | ||
Count | instrument | 2 | |
Fair value | $ 3,238 | 4,160 |
Designated as Hedging Instrument | CAD term loan | Net investment | Term loans, net | ||
Liability: | ||
Count | instrument | 1 | |
Fair value | $ 96,025 | $ 91,700 |
DERIVATIVE AND HEDGING INSTRU_6
DERIVATIVE AND HEDGING INSTRUMENTS - Effect of Derivatives and Financial Instruments Designated as Hedging Instruments on Income and Equity (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
(Loss) gain in other comprehensive (loss) income, cash flow hedges and net investment hedges | $ (25,029) | $ 14,149 | $ 1,841 |
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income | 5,545 | 3,099 | (2,174) |
Interest rate products | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
(Loss) gain recognized in other comprehensive (loss) income, cash flow hedges | (19,932) | 2,707 | 10,807 |
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income | 5,545 | 3,099 | (2,174) |
Foreign currency products | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
(Loss) gain recognized in other comprehensive (loss) income, net investment hedges | (772) | 3,554 | (2,378) |
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income | 0 | 0 | 0 |
CAD term loan | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
(Loss) gain recognized in other comprehensive (loss) income, net investment hedges | (4,325) | 7,888 | (6,588) |
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income | $ 0 | $ 0 | $ 0 |
DERIVATIVE AND HEDGING INSTRU_7
DERIVATIVE AND HEDGING INSTRUMENTS - Gross Presentation, Effects of Offsetting, and a Net Presentation of Derivatives (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Offsetting Assets: | ||
Gross amounts of recognized assets | $ 7,477 | $ 29,344 |
Gross amounts offset in the balance sheet, assets | 0 | 0 |
Net amounts of assets presented in the balance sheet | 7,477 | 29,344 |
Financial instruments, assets | (544) | (2,069) |
Cash collateral received, assets | 0 | 0 |
Net amount, assets | 6,933 | 27,275 |
Offsetting Liabilities: | ||
Gross amounts of recognized liabilities | 626 | 4,529 |
Gross amounts offset in the balance sheet, liabilities | 0 | 0 |
Liabilities presented in the balance sheet | 626 | 4,529 |
Financial Instruments, liabilities | (544) | (2,069) |
Cash collateral received, liabilities | 0 | 0 |
Net amount, liabilities | $ 82 | $ 2,460 |
FAIR VALUE DISCLOSURES - Face V
FAIR VALUE DISCLOSURES - Face Values, Carrying Amounts and Fair Values of Financial Instruments (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans receivable, face value | $ 67,527,000 | $ 96,492,000 |
Preferred equity investments, face value | 43,893,000 | 43,851,000 |
Senior Notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities, face value | 1,250,000,000 | 1,300,000,000 |
Secured Indebtedness | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities, face value | 114,777,000 | 117,464,000 |
Carrying Amount | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans receivable | 63,070,000 | 69,460,000 |
Preferred equity investments | 44,304,000 | 44,262,000 |
Carrying Amount | Senior Notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities | 1,248,773,000 | 1,307,394,000 |
Carrying Amount | Secured Indebtedness | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities | 113,070,000 | 115,679,000 |
Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans receivable | 59,832,000 | 65,797,000 |
Preferred equity investments | 44,493,000 | 43,825,000 |
Fair Value | Senior Notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities | 1,328,714,000 | 1,270,877,000 |
Fair Value | Secured Indebtedness | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities | $ 105,510,000 | $ 101,820,000 |
FAIR VALUE DISCLOSURES - Inputs
FAIR VALUE DISCLOSURES - Inputs Used for Valuation of Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Total | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans receivable | $ 59,832 | $ 65,797 |
Preferred equity investments | 44,493 | 43,825 |
Total | Senior Notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities | 1,328,714 | 1,270,877 |
Total | Secured Indebtedness | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities | 105,510 | $ 101,820 |
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans receivable | 0 | |
Preferred equity investments | 0 | |
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Senior Notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities | 0 | |
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Secured Indebtedness | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities | 0 | |
Recurring | Significant Other Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans receivable | 0 | |
Preferred equity investments | 0 | |
Recurring | Significant Other Observable Inputs (Level 2) | Senior Notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities | 1,328,714 | |
Recurring | Significant Other Observable Inputs (Level 2) | Secured Indebtedness | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities | 0 | |
Recurring | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans receivable | 59,832 | |
Preferred equity investments | 44,493 | |
Recurring | Significant Unobservable Inputs (Level 3) | Senior Notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities | 0 | |
Recurring | Significant Unobservable Inputs (Level 3) | Secured Indebtedness | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities | 105,510 | |
Recurring | Total | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans receivable | 59,832 | |
Preferred equity investments | 44,493 | |
Recurring | Total | Senior Notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities | 1,328,714 | |
Recurring | Total | Secured Indebtedness | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities | $ 105,510 |
FAIR VALUE DISCLOSURES - Amount
FAIR VALUE DISCLOSURES - Amounts Measured at Fair Value (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | $ 7,477 | $ 29,344 |
Financial liabilities | 626 | $ 4,529 |
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Interest Rate Swap | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 0 | |
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Cross Currency Swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 0 | |
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Forward Starting Interest Rate Swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities | 0 | |
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Forward Starting Interest Rate Collar | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities | 0 | |
Recurring | Significant Other Observable Inputs (Level 2) | Interest Rate Swap | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 4,239 | |
Recurring | Significant Other Observable Inputs (Level 2) | Cross Currency Swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 3,238 | |
Recurring | Significant Other Observable Inputs (Level 2) | Forward Starting Interest Rate Swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities | 494 | |
Recurring | Significant Other Observable Inputs (Level 2) | Forward Starting Interest Rate Collar | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities | 132 | |
Recurring | Significant Unobservable Inputs (Level 3) | Interest Rate Swap | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 0 | |
Recurring | Significant Unobservable Inputs (Level 3) | Cross Currency Swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 0 | |
Recurring | Significant Unobservable Inputs (Level 3) | Forward Starting Interest Rate Swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities | 0 | |
Recurring | Significant Unobservable Inputs (Level 3) | Forward Starting Interest Rate Collar | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities | 0 | |
Recurring | Total | Interest Rate Swap | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 4,239 | |
Recurring | Total | Cross Currency Swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets | 3,238 | |
Recurring | Total | Forward Starting Interest Rate Swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities | 494 | |
Recurring | Total | Forward Starting Interest Rate Collar | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial liabilities | $ 132 |
EQUITY - Narrative (Details)
EQUITY - Narrative (Details) - USD ($) | Dec. 11, 2019 | Feb. 25, 2019 | Jun. 01, 2018 | Mar. 21, 2013 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Class of Stock [Line Items] | |||||||
Preferred stock dividend rate | 7.125% | ||||||
Redemption price per share (in dollars per share) | $ 25 | ||||||
Accrued and unpaid dividends (in dollars per share) | 0.4453125 | ||||||
Redemption price per share (in dollars per share) | $ 25.4453125 | ||||||
Vesting of common stock units (in shares) | 100,000 | 100,000 | |||||
Tax withholding obligations | $ 1,500,000 | $ 400,000 | $ 3,100,000 | ||||
Prior ATM Program | |||||||
Class of Stock [Line Items] | |||||||
Sale of stock, maximum proceeds from common stock issuances | $ 500,000,000 | ||||||
Shares of common stock issued (in shares) | 23,900,000 | ||||||
Sale of stock, average price per share (in dollars per share) | $ 20.92 | ||||||
Proceeds from issuance of common stock | $ 500,000,000 | ||||||
Payments of stock issuance costs | $ 7,500,000 | ||||||
New ATM Program | |||||||
Class of Stock [Line Items] | |||||||
Sale of stock, maximum proceeds from common stock issuances | $ 400,000,000 | ||||||
Shares of common stock issued (in shares) | 2,900,000 | ||||||
Sale of stock, average price per share (in dollars per share) | $ 20.86 | ||||||
Proceeds from issuance of common stock | $ 60,000,000 | ||||||
Payments of stock issuance costs | 200,000 | ||||||
Sale of stock, remaining amount available for issuance | $ 340,000,000 | ||||||
Preferred Stock Dividends | |||||||
Class of Stock [Line Items] | |||||||
Charge related to original issuance costs | $ 5,500,000 | ||||||
Preferred Stock | |||||||
Class of Stock [Line Items] | |||||||
Shares redeemed (in shares) | 5,750,000 | 5,750,000 |
EQUITY - Summary of Accumulated
EQUITY - Summary of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Equity | $ 3,488,460 | $ 3,254,747 | $ 3,437,249 | $ 1,015,609 |
Total accumulated other comprehensive loss [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Equity | (12,388) | 12,301 | $ 11,289 | $ (1,798) |
Foreign currency translation gain (loss) | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Equity | (1,516) | (2,193) | ||
Unrealized (loss) gain on cash flow hedges | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Equity | $ (10,872) | $ 14,494 |
STOCK-BASED COMPENSATION - Narr
STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock options outstanding (in shares) | 0 | ||
Total fair value of units vested | $ 7,900 | $ 3,600 | $ 8,400 |
Stock-based compensation expense | 9,819 | 7,648 | 8,359 |
Total unrecognized stock-based compensation expense | $ 20,100 | ||
Weighted average period to recognized stock-based compensation expense | 2 years 6 months | ||
Discretionary matching contribution percent | 3.00% | ||
Matching contributions | $ 211 | 171 | 143 |
General and Administrative Expense | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expense | $ 9,800 | $ 7,600 | $ 7,000 |
Restricted Stock Units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares of common stock convertible upon each performance-based restricted stock unit vesting (in shares) | 1 | ||
Weighted average remaining vesting period | 2 years 6 months | ||
Weighted average fair value per share (in dollars per share) | $ 20.59 | $ 16.02 | $ 19.38 |
Restricted Stock Units | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 3 years | ||
Restricted Stock Units | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 5 years | ||
FFO Units | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting percentage | 0.00% | ||
FFO Units | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting percentage | 200.00% | ||
TSR Units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Historical volatility rate period | 3 years | ||
TSR Units | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting percentage | 0.00% | ||
TSR Units | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting percentage | 200.00% | ||
Care Capital Properties | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock options exercised (in shares) | 0 | ||
Stock options expired (in shares) | 1,200,000 | ||
Stock options outstanding (in shares) | 0 | 1,200,000 | |
Weighted average exercise price (in dollars per share) | $ 28.04 | ||
Care Capital Properties | General and Administrative Expense | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expense | $ 1,400 |
STOCK-BASED COMPENSATION - Summ
STOCK-BASED COMPENSATION - Summary of Additional Information Concerning Restricted Stock Units (Details) - Restricted Stock Units - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Restricted Stock Units Activity | |||
Unvested beginning balance (in shares) | 1,477,318 | ||
Granted (in shares) | 603,131 | ||
Vested (in shares) | (433,181) | ||
Dividends reinvested (in shares) | 152,329 | ||
Cancelled (in shares) | (61,735) | ||
Unvested ending balance (in shares) | 1,737,862 | 1,477,318 | |
Weighted Average Grant Date Fair Value Per Unit | |||
Unvested beginning balance (in dollars per share) | $ 17.88 | ||
Granted (in dollars per share) | 20.59 | $ 16.02 | $ 19.38 |
Vested (in dollars per share) | 18.34 | ||
Dividends reinvested (in dollars per share) | 18.60 | ||
Cancelled (in dollars per share) | 18.29 | ||
Unvested ending balance (in dollars per share) | $ 18.90 | $ 17.88 |
STOCK-BASED COMPENSATION - Su_2
STOCK-BASED COMPENSATION - Summary of Assumptions Used in Total Stockholder Return-Based Stock Units Valuation (Details) - TSR Units | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Assumptions used in fair value valuation | |||
Expected dividend yield (assuming full reinvestment) | 0.00% | 0.00% | 0.00% |
Minimum | |||
Assumptions used in fair value valuation | |||
Risk free interest rate | 1.57% | 2.36% | 1.42% |
Expected stock price volatility | 23.80% | 28.57% | 28.86% |
Expected service period | 2 years 4 months 24 days | 2 years 6 months | 2 years 2 months 12 days |
Maximum | |||
Assumptions used in fair value valuation | |||
Risk free interest rate | 2.54% | 2.59% | 1.99% |
Expected stock price volatility | 28.57% | 30.02% | 30.97% |
Expected service period | 3 years | 3 years | 3 years |
INCOME TAXES - Narrative (Detai
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Business Acquisition [Line Items] | |||
Income tax benefit | $ (3,402) | $ (3,011) | $ (651) |
Acquisitions in Canada | Foreign Tax Authority | Canada Revenue Agency | |||
Business Acquisition [Line Items] | |||
Income tax benefit | 500 | 600 | 1,300 |
Valuation allowance | $ 500 | $ 700 | $ 1,200 |
EARNINGS PER COMMON SHARE - Com
EARNINGS PER COMMON SHARE - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Numerator | |||
Net income attributable to common stockholders | $ 68,996 | $ 269,314 | $ 148,141 |
Denominator | |||
Basic weighted average common shares and common equivalents (in shares) | 187,172,210 | 178,305,738 | 105,621,242 |
Dilutive stock options and restricted stock units (in shares) | 954,882 | 416,006 | 221,192 |
Dilutive weighted average common shares (in shares) | 188,127,092 | 178,721,744 | 105,842,434 |
Net income attributable to common stockholders, per: | |||
Basic common share (in dollars per share) | $ 0.37 | $ 1.51 | $ 1.40 |
Diluted common share (in dollars per share) | $ 0.37 | $ 1.51 | $ 1.40 |
EARNINGS PER COMMON SHARE - Nar
EARNINGS PER COMMON SHARE - Narrative (Details) - shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share | |||
Stock options outstanding (in shares) | 0 | ||
Restricted Stock Units | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share | |||
Anti-dilutive shares excluded from the computation of earnings per share (in shares) | 1,000 | 121,000 | 132,000 |
Stock Options | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share | |||
Anti-dilutive shares excluded from the computation of earnings per share (in shares) | 0 | 0 |
SUMMARIZED CONSOLIDATING INFO_3
SUMMARIZED CONSOLIDATING INFORMATION - Consolidating Balance Sheet (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Assets | ||||
Real estate investments, net of accumulated depreciation | $ 5,341,370 | $ 5,853,545 | ||
Loans receivable and other investments, net | 107,374 | 113,722 | ||
Investment in unconsolidated joint venture | 319,460 | 340,120 | ||
Cash and cash equivalents | 39,097 | 50,230 | ||
Restricted cash | 10,046 | 9,428 | ||
Lease intangible assets, net | 101,509 | 131,097 | ||
Accounts receivable, prepaid expenses and other assets, net | 150,443 | 167,161 | ||
Intercompany | 0 | 0 | ||
Investment in subsidiaries | 0 | 0 | ||
Total assets | 6,069,299 | 6,665,303 | ||
Liabilities | ||||
Secured debt, net | 113,070 | 115,679 | ||
Revolving credit facility | 0 | 624,000 | ||
Term loans, net | 1,040,258 | 1,184,930 | ||
Senior unsecured notes, net | 1,248,773 | 1,307,394 | ||
Accounts payable and accrued liabilities | 108,792 | 94,827 | ||
Lease intangible liabilities, net | 69,946 | 83,726 | ||
Intercompany | 0 | 0 | ||
Total liabilities | 2,580,839 | 3,410,556 | ||
Equity | ||||
Total Sabra Health Care REIT, Inc. stockholders’ equity | 3,488,460 | 3,250,414 | ||
Noncontrolling interests | 0 | 4,333 | ||
Total equity | 3,488,460 | 3,254,747 | $ 3,437,249 | $ 1,015,609 |
Total liabilities and equity | 6,069,299 | 6,665,303 | ||
Elimination | ||||
Assets | ||||
Real estate investments, net of accumulated depreciation | 0 | 0 | ||
Loans receivable and other investments, net | 0 | 0 | ||
Investment in unconsolidated joint venture | 0 | 0 | ||
Cash and cash equivalents | 0 | 0 | ||
Restricted cash | 0 | 0 | ||
Lease intangible assets, net | 0 | 0 | ||
Accounts receivable, prepaid expenses and other assets, net | (10,212) | (11,019) | ||
Intercompany | (3,854,294) | (4,618,728) | ||
Investment in subsidiaries | (3,218,749) | (2,921,593) | ||
Total assets | (7,083,255) | (7,551,340) | ||
Liabilities | ||||
Secured debt, net | 0 | 0 | ||
Revolving credit facility | 0 | 0 | ||
Term loans, net | 0 | 0 | ||
Senior unsecured notes, net | 0 | 0 | ||
Accounts payable and accrued liabilities | (10,212) | (11,019) | ||
Lease intangible liabilities, net | 0 | 0 | ||
Intercompany | (3,854,294) | (4,618,728) | ||
Total liabilities | (3,864,506) | (4,629,747) | ||
Equity | ||||
Total Sabra Health Care REIT, Inc. stockholders’ equity | (2,921,593) | |||
Noncontrolling interests | 0 | |||
Total equity | (3,218,749) | (2,921,593) | ||
Total liabilities and equity | (7,083,255) | (7,551,340) | ||
Parent Company | Reportable Legal Entities | ||||
Assets | ||||
Real estate investments, net of accumulated depreciation | 384 | 317 | ||
Loans receivable and other investments, net | (564) | (560) | ||
Investment in unconsolidated joint venture | 0 | 0 | ||
Cash and cash equivalents | 29,369 | 40,835 | ||
Restricted cash | 0 | 0 | ||
Lease intangible assets, net | 0 | 0 | ||
Accounts receivable, prepaid expenses and other assets, net | 4,753 | 798 | ||
Intercompany | 2,126,198 | 1,972,059 | ||
Investment in subsidiaries | 1,359,702 | 1,258,715 | ||
Total assets | 3,519,842 | 3,272,164 | ||
Liabilities | ||||
Secured debt, net | 0 | 0 | ||
Revolving credit facility | 0 | 0 | ||
Term loans, net | 0 | 0 | ||
Senior unsecured notes, net | 0 | 0 | ||
Accounts payable and accrued liabilities | 31,382 | 21,750 | ||
Lease intangible liabilities, net | 0 | 0 | ||
Intercompany | 0 | 0 | ||
Total liabilities | 31,382 | 21,750 | ||
Equity | ||||
Total Sabra Health Care REIT, Inc. stockholders’ equity | 3,250,414 | |||
Noncontrolling interests | 0 | |||
Total equity | 3,488,460 | 3,250,414 | ||
Total liabilities and equity | 3,519,842 | 3,272,164 | ||
Operating Partnership | Reportable Legal Entities | ||||
Assets | ||||
Real estate investments, net of accumulated depreciation | 0 | 0 | ||
Loans receivable and other investments, net | 0 | 0 | ||
Investment in unconsolidated joint venture | 0 | 0 | ||
Cash and cash equivalents | 0 | 0 | ||
Restricted cash | 0 | 0 | ||
Lease intangible assets, net | 0 | 0 | ||
Accounts receivable, prepaid expenses and other assets, net | 18,655 | 37,075 | ||
Intercompany | 1,728,096 | 2,646,669 | ||
Investment in subsidiaries | 1,823,897 | 1,629,795 | ||
Total assets | 3,570,648 | 4,313,539 | ||
Liabilities | ||||
Secured debt, net | 0 | 0 | ||
Revolving credit facility | 0 | 624,000 | ||
Term loans, net | 945,393 | 1,094,177 | ||
Senior unsecured notes, net | 1,248,773 | 1,307,394 | ||
Accounts payable and accrued liabilities | 16,780 | 29,253 | ||
Lease intangible liabilities, net | 0 | 0 | ||
Intercompany | 0 | 0 | ||
Total liabilities | 2,210,946 | 3,054,824 | ||
Equity | ||||
Total Sabra Health Care REIT, Inc. stockholders’ equity | 1,258,715 | |||
Noncontrolling interests | 0 | |||
Total equity | 1,359,702 | 1,258,715 | ||
Total liabilities and equity | 3,570,648 | 4,313,539 | ||
Sabra Health Care, L.L.C. | Reportable Legal Entities | ||||
Assets | ||||
Real estate investments, net of accumulated depreciation | 0 | 0 | ||
Loans receivable and other investments, net | 0 | 0 | ||
Investment in unconsolidated joint venture | 0 | 0 | ||
Cash and cash equivalents | 0 | 0 | ||
Restricted cash | 0 | 0 | ||
Lease intangible assets, net | 0 | 0 | ||
Accounts receivable, prepaid expenses and other assets, net | 0 | 0 | ||
Intercompany | 0 | 0 | ||
Investment in subsidiaries | 0 | 0 | ||
Total assets | 0 | 0 | ||
Liabilities | ||||
Secured debt, net | 0 | 0 | ||
Revolving credit facility | 0 | 0 | ||
Term loans, net | 0 | 0 | ||
Senior unsecured notes, net | 0 | 0 | ||
Accounts payable and accrued liabilities | 0 | 0 | ||
Lease intangible liabilities, net | 0 | 0 | ||
Intercompany | 0 | 0 | ||
Total liabilities | 0 | 0 | ||
Equity | ||||
Total Sabra Health Care REIT, Inc. stockholders’ equity | 0 | |||
Noncontrolling interests | 0 | |||
Total equity | 0 | 0 | ||
Total liabilities and equity | 0 | 0 | ||
Combined Non-Guarantor Subsidiaries | Reportable Legal Entities | ||||
Assets | ||||
Real estate investments, net of accumulated depreciation | 5,340,986 | 5,853,228 | ||
Loans receivable and other investments, net | 107,938 | 114,282 | ||
Investment in unconsolidated joint venture | 319,460 | 340,120 | ||
Cash and cash equivalents | 9,728 | 9,395 | ||
Restricted cash | 10,046 | 9,428 | ||
Lease intangible assets, net | 101,509 | 131,097 | ||
Accounts receivable, prepaid expenses and other assets, net | 137,247 | 140,307 | ||
Intercompany | 0 | 0 | ||
Investment in subsidiaries | 35,150 | 33,083 | ||
Total assets | 6,062,064 | 6,630,940 | ||
Liabilities | ||||
Secured debt, net | 113,070 | 115,679 | ||
Revolving credit facility | 0 | 0 | ||
Term loans, net | 94,865 | 90,753 | ||
Senior unsecured notes, net | 0 | 0 | ||
Accounts payable and accrued liabilities | 70,842 | 54,843 | ||
Lease intangible liabilities, net | 69,946 | 83,726 | ||
Intercompany | 3,854,294 | 4,618,728 | ||
Total liabilities | 4,203,017 | 4,963,729 | ||
Equity | ||||
Total Sabra Health Care REIT, Inc. stockholders’ equity | 1,662,878 | |||
Noncontrolling interests | 4,333 | |||
Total equity | 1,859,047 | 1,667,211 | ||
Total liabilities and equity | $ 6,062,064 | $ 6,630,940 |
SUMMARIZED CONSOLIDATING INFO_4
SUMMARIZED CONSOLIDATING INFORMATION - Consolidating Statement of Income (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Revenues: | |||
Rental and related revenues | $ 452,138 | $ 536,605 | $ 364,191 |
Interest and other income | 81,540 | 16,667 | 17,660 |
Resident fees and services | 128,058 | 70,137 | 26,430 |
Total revenues | 661,736 | 623,409 | 408,281 |
Expenses: | |||
Depreciation and amortization | 181,549 | 191,379 | 113,882 |
Interest | 126,610 | 147,106 | 88,440 |
Operating expenses | 49,546 | 17,860 | |
General and administrative | 30,462 | 36,458 | 32,401 |
Merger and acquisition costs | 424 | 636 | 30,255 |
Provision for doubtful accounts, straight-line rental income and loan losses | 1,238 | 39,075 | 17,113 |
Impairment of real estate | 121,819 | 1,413 | 1,326 |
Total expenses | 570,574 | 465,613 | 301,277 |
Other income (expense): | |||
Loss on extinguishment of debt | (16,340) | (2,917) | (553) |
Other income | 2,094 | 4,480 | 536 |
Net gain on sales of real estate | 2,300 | 128,198 | 52,029 |
Total other (expense) income | (11,946) | 129,761 | 52,012 |
Income in subsidiary | 0 | 0 | 0 |
Income before loss from unconsolidated joint venture and income tax expense | 79,216 | 287,557 | 159,016 |
Loss from unconsolidated joint venture | (6,796) | (5,431) | 0 |
Income tax expense | (3,402) | (3,011) | (651) |
Net income | 69,018 | 279,115 | 158,365 |
Net income attributable to noncontrolling interests | (22) | (33) | 18 |
Net income attributable to Sabra Health Care REIT, Inc. | 68,996 | 279,082 | 158,383 |
Preferred stock dividends | 0 | (9,768) | (10,242) |
Net income attributable to common stockholders | $ 68,996 | $ 269,314 | $ 148,141 |
Net income attributable to common stockholders, per: | |||
Basic common share (in dollars per share) | $ 0.37 | $ 1.51 | $ 1.40 |
Diluted common share (in dollars per share) | $ 0.37 | $ 1.51 | $ 1.40 |
Weighted-average number of common shares outstanding, basic (in shares) | 187,172,210 | 178,305,738 | 105,621,242 |
Weighted-average number of common shares outstanding, diluted (in shares) | 188,127,092 | 178,721,744 | 105,842,434 |
Elimination | |||
Revenues: | |||
Rental and related revenues | $ (33,000) | $ (17,425) | $ (7,513) |
Interest and other income | (5,655) | (399) | (161) |
Resident fees and services | 0 | 0 | 0 |
Total revenues | (38,655) | (17,824) | (7,674) |
Expenses: | |||
Depreciation and amortization | 0 | 0 | 0 |
Interest | (5,655) | (399) | (143) |
Operating expenses | (17,425) | (7,531) | |
General and administrative | 0 | 0 | 0 |
Merger and acquisition costs | 0 | 0 | 0 |
Provision for doubtful accounts, straight-line rental income and loan losses | 0 | 0 | 0 |
Impairment of real estate | 0 | 0 | 0 |
Total expenses | (38,655) | (17,824) | (7,674) |
Other income (expense): | |||
Loss on extinguishment of debt | 0 | 0 | 0 |
Other income | 0 | 0 | 0 |
Net gain on sales of real estate | 0 | 0 | 0 |
Total other (expense) income | 0 | 0 | 0 |
Income in subsidiary | (333,970) | (773,612) | (509,045) |
Income before loss from unconsolidated joint venture and income tax expense | (333,970) | (773,612) | (509,045) |
Loss from unconsolidated joint venture | 0 | 0 | |
Income tax expense | 0 | 0 | 0 |
Net income | (333,970) | (773,612) | (509,045) |
Net income attributable to noncontrolling interests | 0 | 0 | 0 |
Net income attributable to Sabra Health Care REIT, Inc. | (773,612) | (509,045) | |
Preferred stock dividends | 0 | 0 | |
Net income attributable to common stockholders | (333,970) | (773,612) | (509,045) |
Parent Company | Reportable Legal Entities | |||
Revenues: | |||
Rental and related revenues | 0 | 0 | 0 |
Interest and other income | 255 | 110 | 2,673 |
Resident fees and services | 0 | 0 | 0 |
Total revenues | 255 | 110 | 2,673 |
Expenses: | |||
Depreciation and amortization | 50 | 887 | 867 |
Interest | 0 | 0 | 0 |
Operating expenses | 0 | 0 | |
General and administrative | 28,486 | 26,801 | 24,810 |
Merger and acquisition costs | 423 | 642 | 30,208 |
Provision for doubtful accounts, straight-line rental income and loan losses | 4 | 822 | 227 |
Impairment of real estate | 0 | 0 | 0 |
Total expenses | 28,963 | 29,152 | 56,112 |
Other income (expense): | |||
Loss on extinguishment of debt | 0 | 0 | 0 |
Other income | 0 | 1,977 | 0 |
Net gain on sales of real estate | 0 | 0 | 0 |
Total other (expense) income | 0 | 1,977 | 0 |
Income in subsidiary | 98,665 | 307,736 | 212,432 |
Income before loss from unconsolidated joint venture and income tax expense | 69,957 | 280,671 | 158,993 |
Loss from unconsolidated joint venture | 0 | 0 | |
Income tax expense | (961) | (1,589) | (610) |
Net income | 68,996 | 279,082 | 158,383 |
Net income attributable to noncontrolling interests | 0 | 0 | 0 |
Net income attributable to Sabra Health Care REIT, Inc. | 279,082 | 158,383 | |
Preferred stock dividends | (9,768) | (10,242) | |
Net income attributable to common stockholders | 68,996 | 269,314 | 148,141 |
Operating Partnership | Reportable Legal Entities | |||
Revenues: | |||
Rental and related revenues | 0 | 0 | 0 |
Interest and other income | 5,655 | 399 | 143 |
Resident fees and services | 0 | 0 | 0 |
Total revenues | 5,655 | 399 | 143 |
Expenses: | |||
Depreciation and amortization | 0 | 0 | 0 |
Interest | 118,656 | 134,096 | 77,767 |
Operating expenses | 0 | 0 | |
General and administrative | 175 | 71 | 65 |
Merger and acquisition costs | 0 | 0 | 0 |
Provision for doubtful accounts, straight-line rental income and loan losses | 0 | 0 | 0 |
Impairment of real estate | 0 | 0 | 0 |
Total expenses | 118,831 | 134,167 | 77,832 |
Other income (expense): | |||
Loss on extinguishment of debt | (16,296) | 0 | (422) |
Other income | (321) | (55) | 1,130 |
Net gain on sales of real estate | 0 | 0 | 0 |
Total other (expense) income | (16,617) | (55) | 708 |
Income in subsidiary | 228,459 | 441,560 | 289,414 |
Income before loss from unconsolidated joint venture and income tax expense | 98,666 | 307,737 | 212,433 |
Loss from unconsolidated joint venture | 0 | 0 | |
Income tax expense | (1) | (1) | (1) |
Net income | 98,665 | 307,736 | 212,432 |
Net income attributable to noncontrolling interests | 0 | 0 | 0 |
Net income attributable to Sabra Health Care REIT, Inc. | 307,736 | 212,432 | |
Preferred stock dividends | 0 | 0 | |
Net income attributable to common stockholders | 98,665 | 307,736 | 212,432 |
Sabra Health Care, L.L.C. | Reportable Legal Entities | |||
Revenues: | |||
Rental and related revenues | 0 | 0 | 0 |
Interest and other income | 0 | 0 | 0 |
Resident fees and services | 0 | 0 | 0 |
Total revenues | 0 | 0 | 0 |
Expenses: | |||
Depreciation and amortization | 0 | 0 | 0 |
Interest | 0 | 0 | 0 |
Operating expenses | 0 | 0 | |
General and administrative | 0 | 0 | 0 |
Merger and acquisition costs | 0 | 0 | 0 |
Provision for doubtful accounts, straight-line rental income and loan losses | 0 | 0 | 0 |
Impairment of real estate | 0 | 0 | 0 |
Total expenses | 0 | 0 | 0 |
Other income (expense): | |||
Loss on extinguishment of debt | 0 | 0 | 0 |
Other income | 0 | 0 | 0 |
Net gain on sales of real estate | 0 | 0 | 0 |
Total other (expense) income | 0 | 0 | 0 |
Income in subsidiary | 0 | 0 | 0 |
Income before loss from unconsolidated joint venture and income tax expense | 0 | 0 | 0 |
Loss from unconsolidated joint venture | 0 | 0 | |
Income tax expense | 0 | 0 | 0 |
Net income | 0 | 0 | 0 |
Net income attributable to noncontrolling interests | 0 | 0 | 0 |
Net income attributable to Sabra Health Care REIT, Inc. | 0 | 0 | |
Preferred stock dividends | 0 | 0 | |
Net income attributable to common stockholders | 0 | 0 | 0 |
Combined Non-Guarantor Subsidiaries | Reportable Legal Entities | |||
Revenues: | |||
Rental and related revenues | 485,138 | 554,030 | 371,704 |
Interest and other income | 81,285 | 16,557 | 15,005 |
Resident fees and services | 128,058 | 70,137 | 26,430 |
Total revenues | 694,481 | 640,724 | 413,139 |
Expenses: | |||
Depreciation and amortization | 181,499 | 190,492 | 113,015 |
Interest | 13,609 | 13,409 | 10,816 |
Operating expenses | 66,971 | 25,391 | |
General and administrative | 1,801 | 9,586 | 7,526 |
Merger and acquisition costs | 1 | (6) | 47 |
Provision for doubtful accounts, straight-line rental income and loan losses | 1,234 | 38,253 | 16,886 |
Impairment of real estate | 121,819 | 1,413 | 1,326 |
Total expenses | 461,435 | 320,118 | 175,007 |
Other income (expense): | |||
Loss on extinguishment of debt | (44) | (2,917) | (131) |
Other income | 2,415 | 2,558 | (594) |
Net gain on sales of real estate | 2,300 | 128,198 | 52,029 |
Total other (expense) income | 4,671 | 127,839 | 51,304 |
Income in subsidiary | 6,846 | 24,316 | 7,199 |
Income before loss from unconsolidated joint venture and income tax expense | 244,563 | 472,761 | 296,635 |
Loss from unconsolidated joint venture | (6,796) | (5,431) | |
Income tax expense | (2,440) | (1,421) | (40) |
Net income | 235,327 | 465,909 | 296,595 |
Net income attributable to noncontrolling interests | (22) | (33) | 18 |
Net income attributable to Sabra Health Care REIT, Inc. | 465,876 | 296,613 | |
Preferred stock dividends | 0 | 0 | |
Net income attributable to common stockholders | 235,305 | 465,876 | 296,613 |
Triple-Net Portfolio | |||
Expenses: | |||
Operating expenses | 22,215 | 0 | 0 |
Triple-Net Portfolio | Elimination | |||
Expenses: | |||
Operating expenses | 0 | ||
Triple-Net Portfolio | Parent Company | Reportable Legal Entities | |||
Expenses: | |||
Operating expenses | 0 | ||
Triple-Net Portfolio | Operating Partnership | Reportable Legal Entities | |||
Expenses: | |||
Operating expenses | 0 | ||
Triple-Net Portfolio | Sabra Health Care, L.L.C. | Reportable Legal Entities | |||
Expenses: | |||
Operating expenses | 0 | ||
Triple-Net Portfolio | Combined Non-Guarantor Subsidiaries | Reportable Legal Entities | |||
Expenses: | |||
Operating expenses | 22,215 | ||
Senior Housing - Managed | |||
Expenses: | |||
Operating expenses | 86,257 | $ 49,546 | $ 17,860 |
Senior Housing - Managed | Elimination | |||
Expenses: | |||
Operating expenses | (33,000) | ||
Senior Housing - Managed | Parent Company | Reportable Legal Entities | |||
Expenses: | |||
Operating expenses | 0 | ||
Senior Housing - Managed | Operating Partnership | Reportable Legal Entities | |||
Expenses: | |||
Operating expenses | 0 | ||
Senior Housing - Managed | Sabra Health Care, L.L.C. | Reportable Legal Entities | |||
Expenses: | |||
Operating expenses | 0 | ||
Senior Housing - Managed | Combined Non-Guarantor Subsidiaries | Reportable Legal Entities | |||
Expenses: | |||
Operating expenses | $ 119,257 |
SUMMARIZED CONSOLIDATING INFO_5
SUMMARIZED CONSOLIDATING INFORMATION - Consolidating Statement of Comprehensive Income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Condensed Financial Statements, Captions [Line Items] | |||
Net income | $ 69,018 | $ 279,115 | $ 158,365 |
Other comprehensive (loss) income: | |||
Foreign currency translation gain | 679 | 720 | 154 |
Unrealized (loss) gain on cash flow hedge | (25,368) | 292 | 12,933 |
Total other comprehensive (loss) income | (24,689) | 1,012 | 13,087 |
Comprehensive income | 44,329 | 280,127 | 171,452 |
Comprehensive (income) loss attributable to noncontrolling interest | (22) | (33) | 18 |
Comprehensive income attributable to Sabra Health Care REIT, Inc. | 44,307 | 280,094 | 171,470 |
Elimination | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net income | (333,970) | (773,612) | (509,045) |
Other comprehensive (loss) income: | |||
Foreign currency translation gain | 0 | 0 | 0 |
Unrealized (loss) gain on cash flow hedge | 0 | 0 | 0 |
Total other comprehensive (loss) income | 0 | 0 | 0 |
Comprehensive income | (333,970) | (773,612) | (509,045) |
Comprehensive (income) loss attributable to noncontrolling interest | 0 | 0 | 0 |
Comprehensive income attributable to Sabra Health Care REIT, Inc. | (333,970) | (773,612) | (509,045) |
Parent Company | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net income | 68,996 | 279,082 | 158,383 |
Other comprehensive (loss) income: | |||
Foreign currency translation gain | 0 | 0 | 0 |
Unrealized (loss) gain on cash flow hedge | 0 | 0 | 0 |
Total other comprehensive (loss) income | 0 | 0 | 0 |
Comprehensive income | 68,996 | 279,082 | 158,383 |
Comprehensive (income) loss attributable to noncontrolling interest | 0 | 0 | 0 |
Comprehensive income attributable to Sabra Health Care REIT, Inc. | 68,996 | 279,082 | 158,383 |
Operating Partnership | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net income | 98,665 | 307,736 | 212,432 |
Other comprehensive (loss) income: | |||
Foreign currency translation gain | (1,276) | 4,329 | (2,821) |
Unrealized (loss) gain on cash flow hedge | (25,416) | 244 | 13,078 |
Total other comprehensive (loss) income | (26,692) | 4,573 | 10,257 |
Comprehensive income | 71,973 | 312,309 | 222,689 |
Comprehensive (income) loss attributable to noncontrolling interest | 0 | 0 | 0 |
Comprehensive income attributable to Sabra Health Care REIT, Inc. | 71,973 | 312,309 | 222,689 |
Sabra Health Care, L.L.C. | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net income | 0 | 0 | 0 |
Other comprehensive (loss) income: | |||
Foreign currency translation gain | 0 | 0 | 0 |
Unrealized (loss) gain on cash flow hedge | 0 | 0 | 0 |
Total other comprehensive (loss) income | 0 | 0 | 0 |
Comprehensive income | 0 | 0 | 0 |
Comprehensive (income) loss attributable to noncontrolling interest | 0 | 0 | 0 |
Comprehensive income attributable to Sabra Health Care REIT, Inc. | 0 | 0 | 0 |
Combined Non-Guarantor Subsidiaries | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net income | 235,327 | 465,909 | 296,595 |
Other comprehensive (loss) income: | |||
Foreign currency translation gain | 1,955 | (3,609) | 2,975 |
Unrealized (loss) gain on cash flow hedge | 48 | 48 | (145) |
Total other comprehensive (loss) income | 2,003 | (3,561) | 2,830 |
Comprehensive income | 237,330 | 462,348 | 299,425 |
Comprehensive (income) loss attributable to noncontrolling interest | (22) | (33) | 18 |
Comprehensive income attributable to Sabra Health Care REIT, Inc. | $ 237,308 | $ 462,315 | $ 299,443 |
SUMMARIZED CONSOLIDATING INFO_6
SUMMARIZED CONSOLIDATING INFORMATION - Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Condensed Financial Statements, Captions [Line Items] | |||
Net cash provided by operating activities | $ 372,475 | $ 360,586 | $ 135,789 |
Cash flows from investing activities: | |||
Acquisition of real estate | (51,136) | (261,511) | (419,905) |
Cash received in CCP Merger | 0 | 0 | 77,859 |
Origination and fundings of loans receivable | (13,065) | (50,731) | (17,239) |
Origination and fundings of preferred equity investments | 0 | (5,313) | (2,749) |
Additions to real estate | (25,451) | (27,697) | (6,954) |
Repayments of loans receivable | 18,367 | 51,789 | 32,430 |
Repayments of preferred equity investments | 5,079 | 6,870 | 3,755 |
Investment in unconsolidated joint venture | 0 | (354,461) | 0 |
Net proceeds from sales of real estate | 329,050 | 382,560 | 150,243 |
Distribution from subsidiaries | 0 | 0 | 0 |
Intercompany financing | 0 | 0 | 0 |
Net cash provided by (used in) investing activities | 262,844 | (258,494) | (182,560) |
Cash flows from financing activities: | |||
Net borrowings (repayments) from revolving credit facility | (624,000) | (17,000) | 253,000 |
Proceeds from term loans | 0 | 0 | 181,000 |
Proceeds from issuance of senior unsecured notes | 638,779 | 0 | 0 |
Principal payments on senior unsecured notes | (700,000) | 0 | 0 |
Principal payments on term loans | (145,000) | 0 | 0 |
Principal payments on secured debt | (3,436) | (140,338) | (4,145) |
Payments of deferred financing costs | (15,598) | (352) | (15,337) |
Payments related to extinguishment of debt | (10,502) | (2,043) | 0 |
Payment for Contingent Consideration Liability, Financing Activities | 0 | 0 | 382 |
Distributions to noncontrolling interests | (316) | (142) | (30) |
Issuance of common stock, net | 549,328 | (499) | 366,800 |
Preferred stock redemption | 0 | (143,750) | 0 |
Dividends paid on common and preferred stock | (335,435) | (325,220) | (182,089) |
Distribution to parent | 0 | 0 | 0 |
Intercompany financing | 0 | 0 | 0 |
Net cash (used in) provided by financing activities | (646,180) | (629,344) | 598,817 |
Net (decrease) increase in cash, cash equivalents and restricted cash | (10,861) | (527,252) | 552,046 |
Effect of foreign currency translation on cash, cash equivalents and restricted cash | 346 | (539) | 738 |
Cash, cash equivalents and restricted cash, beginning of period | 59,658 | 587,449 | 34,665 |
Cash, cash equivalents and restricted cash, end of period | 49,143 | 59,658 | 587,449 |
Elimination | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net cash provided by operating activities | 0 | 0 | 0 |
Cash flows from investing activities: | |||
Acquisition of real estate | 0 | 0 | 0 |
Cash received in CCP Merger | 0 | ||
Origination and fundings of loans receivable | 0 | 0 | 0 |
Origination and fundings of preferred equity investments | 0 | 0 | |
Additions to real estate | 0 | 0 | 0 |
Repayments of loans receivable | 0 | 0 | 0 |
Repayments of preferred equity investments | 0 | 0 | 0 |
Investment in unconsolidated joint venture | 0 | ||
Net proceeds from sales of real estate | 0 | 0 | 0 |
Distribution from subsidiaries | (10,496) | (10,914) | (4,948) |
Intercompany financing | 324,025 | 619,141 | 80,665 |
Net cash provided by (used in) investing activities | 313,529 | 608,227 | 75,717 |
Cash flows from financing activities: | |||
Net borrowings (repayments) from revolving credit facility | 0 | 0 | 0 |
Proceeds from term loans | 0 | ||
Proceeds from issuance of senior unsecured notes | 0 | ||
Principal payments on senior unsecured notes | 0 | ||
Principal payments on term loans | 0 | ||
Principal payments on secured debt | 0 | 0 | 0 |
Payments of deferred financing costs | 0 | 0 | 0 |
Payments related to extinguishment of debt | 0 | 0 | |
Payment for Contingent Consideration Liability, Financing Activities | 0 | ||
Distributions to noncontrolling interests | 0 | 0 | 0 |
Issuance of common stock, net | 0 | 0 | 0 |
Preferred stock redemption | 0 | ||
Dividends paid on common and preferred stock | 0 | 0 | 0 |
Distribution to parent | 10,496 | 10,914 | 4,948 |
Intercompany financing | (324,025) | (619,141) | (80,665) |
Net cash (used in) provided by financing activities | (313,529) | (608,227) | (75,717) |
Net (decrease) increase in cash, cash equivalents and restricted cash | 0 | 0 | 0 |
Effect of foreign currency translation on cash, cash equivalents and restricted cash | 0 | 0 | 0 |
Cash, cash equivalents and restricted cash, beginning of period | 0 | 0 | 0 |
Cash, cash equivalents and restricted cash, end of period | 0 | 0 | 0 |
Parent Company | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net cash provided by operating activities | 359,681 | 312,485 | 59,640 |
Cash flows from investing activities: | |||
Acquisition of real estate | 0 | 0 | 0 |
Cash received in CCP Merger | 77,859 | ||
Origination and fundings of loans receivable | 0 | 0 | 0 |
Origination and fundings of preferred equity investments | 0 | 0 | |
Additions to real estate | (115) | (40) | (181) |
Repayments of loans receivable | 0 | 0 | 0 |
Repayments of preferred equity investments | 0 | 0 | 0 |
Investment in unconsolidated joint venture | 0 | ||
Net proceeds from sales of real estate | 0 | 0 | 0 |
Distribution from subsidiaries | 5,248 | 5,457 | 2,474 |
Intercompany financing | (590,173) | (319,268) | 168,999 |
Net cash provided by (used in) investing activities | (585,040) | (313,851) | 249,151 |
Cash flows from financing activities: | |||
Net borrowings (repayments) from revolving credit facility | 0 | 0 | 0 |
Proceeds from term loans | 0 | ||
Proceeds from issuance of senior unsecured notes | 0 | ||
Principal payments on senior unsecured notes | 0 | ||
Principal payments on term loans | 0 | ||
Principal payments on secured debt | 0 | 0 | 0 |
Payments of deferred financing costs | 0 | 0 | 0 |
Payments related to extinguishment of debt | 0 | 0 | |
Payment for Contingent Consideration Liability, Financing Activities | 0 | ||
Distributions to noncontrolling interests | 0 | 0 | 0 |
Issuance of common stock, net | 549,328 | (499) | 366,800 |
Preferred stock redemption | (143,750) | ||
Dividends paid on common and preferred stock | (335,435) | (325,220) | (182,089) |
Distribution to parent | 0 | 0 | 0 |
Intercompany financing | 0 | 0 | 0 |
Net cash (used in) provided by financing activities | 213,893 | (469,469) | 184,711 |
Net (decrease) increase in cash, cash equivalents and restricted cash | (11,466) | (470,835) | 493,502 |
Effect of foreign currency translation on cash, cash equivalents and restricted cash | 0 | 0 | 0 |
Cash, cash equivalents and restricted cash, beginning of period | 40,835 | 511,670 | 18,168 |
Cash, cash equivalents and restricted cash, end of period | 29,369 | 40,835 | 511,670 |
Operating Partnership | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net cash provided by operating activities | 0 | 0 | 0 |
Cash flows from investing activities: | |||
Acquisition of real estate | 0 | 0 | 0 |
Cash received in CCP Merger | 0 | ||
Origination and fundings of loans receivable | 0 | 0 | 0 |
Origination and fundings of preferred equity investments | 0 | 0 | |
Additions to real estate | 0 | 0 | 0 |
Repayments of loans receivable | 0 | 0 | 0 |
Repayments of preferred equity investments | 0 | 0 | 0 |
Investment in unconsolidated joint venture | 0 | ||
Net proceeds from sales of real estate | 0 | 0 | 0 |
Distribution from subsidiaries | 5,248 | 5,457 | 2,474 |
Intercompany financing | 266,148 | (299,873) | (249,664) |
Net cash provided by (used in) investing activities | 271,396 | (294,416) | (247,190) |
Cash flows from financing activities: | |||
Net borrowings (repayments) from revolving credit facility | (624,000) | (17,000) | 253,000 |
Proceeds from term loans | 181,000 | ||
Proceeds from issuance of senior unsecured notes | 638,779 | ||
Principal payments on senior unsecured notes | (700,000) | ||
Principal payments on term loans | (145,000) | ||
Principal payments on secured debt | 0 | 0 | 0 |
Payments of deferred financing costs | (15,598) | (352) | (15,337) |
Payments related to extinguishment of debt | (10,502) | (2,043) | |
Payment for Contingent Consideration Liability, Financing Activities | 0 | ||
Distributions to noncontrolling interests | 0 | 0 | 0 |
Issuance of common stock, net | 0 | 0 | 0 |
Preferred stock redemption | 0 | ||
Dividends paid on common and preferred stock | 0 | 0 | 0 |
Distribution to parent | (5,248) | (5,457) | (2,474) |
Intercompany financing | 590,173 | 319,268 | (168,999) |
Net cash (used in) provided by financing activities | (271,396) | 294,416 | 247,190 |
Net (decrease) increase in cash, cash equivalents and restricted cash | 0 | 0 | 0 |
Effect of foreign currency translation on cash, cash equivalents and restricted cash | 0 | 0 | 0 |
Cash, cash equivalents and restricted cash, beginning of period | 0 | 0 | 0 |
Cash, cash equivalents and restricted cash, end of period | 0 | 0 | 0 |
Sabra Health Care, L.L.C. | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net cash provided by operating activities | 0 | 0 | 0 |
Cash flows from investing activities: | |||
Acquisition of real estate | 0 | 0 | 0 |
Cash received in CCP Merger | 0 | ||
Origination and fundings of loans receivable | 0 | 0 | 0 |
Origination and fundings of preferred equity investments | 0 | 0 | |
Additions to real estate | 0 | 0 | 0 |
Repayments of loans receivable | 0 | 0 | 0 |
Repayments of preferred equity investments | 0 | 0 | 0 |
Investment in unconsolidated joint venture | 0 | ||
Net proceeds from sales of real estate | 0 | 0 | 0 |
Distribution from subsidiaries | 0 | 0 | 0 |
Intercompany financing | 0 | 0 | 0 |
Net cash provided by (used in) investing activities | 0 | 0 | 0 |
Cash flows from financing activities: | |||
Net borrowings (repayments) from revolving credit facility | 0 | 0 | 0 |
Proceeds from term loans | 0 | ||
Proceeds from issuance of senior unsecured notes | 0 | ||
Principal payments on senior unsecured notes | 0 | ||
Principal payments on term loans | 0 | ||
Principal payments on secured debt | 0 | 0 | 0 |
Payments of deferred financing costs | 0 | 0 | 0 |
Payments related to extinguishment of debt | 0 | 0 | |
Payment for Contingent Consideration Liability, Financing Activities | 0 | ||
Distributions to noncontrolling interests | 0 | 0 | 0 |
Issuance of common stock, net | 0 | 0 | 0 |
Preferred stock redemption | 0 | ||
Dividends paid on common and preferred stock | 0 | 0 | 0 |
Distribution to parent | 0 | 0 | 0 |
Intercompany financing | 0 | 0 | 0 |
Net cash (used in) provided by financing activities | 0 | 0 | 0 |
Net (decrease) increase in cash, cash equivalents and restricted cash | 0 | 0 | 0 |
Effect of foreign currency translation on cash, cash equivalents and restricted cash | 0 | 0 | 0 |
Cash, cash equivalents and restricted cash, beginning of period | 0 | 0 | 0 |
Cash, cash equivalents and restricted cash, end of period | 0 | 0 | 0 |
Combined Non-Guarantor Subsidiaries | Reportable Legal Entities | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net cash provided by operating activities | 12,794 | 48,101 | 76,149 |
Cash flows from investing activities: | |||
Acquisition of real estate | (51,136) | (261,511) | (419,905) |
Cash received in CCP Merger | 0 | ||
Origination and fundings of loans receivable | (13,065) | (50,731) | (17,239) |
Origination and fundings of preferred equity investments | (5,313) | (2,749) | |
Additions to real estate | (25,336) | (27,657) | (6,773) |
Repayments of loans receivable | 18,367 | 51,789 | 32,430 |
Repayments of preferred equity investments | 5,079 | 6,870 | 3,755 |
Investment in unconsolidated joint venture | (354,461) | ||
Net proceeds from sales of real estate | 329,050 | 382,560 | 150,243 |
Distribution from subsidiaries | 0 | 0 | 0 |
Intercompany financing | 0 | 0 | 0 |
Net cash provided by (used in) investing activities | 262,959 | (258,454) | (260,238) |
Cash flows from financing activities: | |||
Net borrowings (repayments) from revolving credit facility | 0 | 0 | 0 |
Proceeds from term loans | 0 | ||
Proceeds from issuance of senior unsecured notes | 0 | ||
Principal payments on senior unsecured notes | 0 | ||
Principal payments on term loans | 0 | ||
Principal payments on secured debt | (3,436) | (140,338) | (4,145) |
Payments of deferred financing costs | 0 | 0 | 0 |
Payments related to extinguishment of debt | 0 | 0 | |
Payment for Contingent Consideration Liability, Financing Activities | 382 | ||
Distributions to noncontrolling interests | (316) | (142) | (30) |
Issuance of common stock, net | 0 | 0 | 0 |
Preferred stock redemption | 0 | ||
Dividends paid on common and preferred stock | 0 | 0 | 0 |
Distribution to parent | (5,248) | (5,457) | (2,474) |
Intercompany financing | (266,148) | 299,873 | 249,664 |
Net cash (used in) provided by financing activities | (275,148) | 153,936 | 242,633 |
Net (decrease) increase in cash, cash equivalents and restricted cash | 605 | (56,417) | 58,544 |
Effect of foreign currency translation on cash, cash equivalents and restricted cash | 346 | (539) | 738 |
Cash, cash equivalents and restricted cash, beginning of period | 18,823 | 75,779 | 16,497 |
Cash, cash equivalents and restricted cash, end of period | $ 19,774 | $ 18,823 | $ 75,779 |
SUBSEQUENT EVENTS (Details)
SUBSEQUENT EVENTS (Details) - $ / shares | Feb. 04, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Subsequent Event | ||||
Common stock dividends declared (in dollars per share) | $ 1.80 | $ 1.80 | $ 1.73 | |
Dividend Declared | Subsequent Event | ||||
Subsequent Event | ||||
Common stock dividends declared (in dollars per share) | $ 0.45 |
SCHEDULE II - VALUATION AND Q_2
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Year | $ 40,742 | $ 17,972 | $ 10,111 |
Charged to Earnings | 1,238 | 41,793 | 17,498 |
Recoveries | 0 | (2,718) | (385) |
Uncollectible Accounts Written-off | (41,416) | (16,305) | (9,252) |
Balance at End of Year | 564 | 40,742 | 17,972 |
Allowance for doubtful accounts | |||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Year | 3,706 | 5,520 | 3,693 |
Charged to Earnings | 0 | 986 | 2,485 |
Recoveries | 0 | (2,718) | (385) |
Uncollectible Accounts Written-off | (3,706) | (82) | (273) |
Balance at End of Year | 0 | 3,706 | 5,520 |
Straight-line rent receivable allowance | |||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Year | 35,778 | 12,355 | 3,668 |
Charged to Earnings | 0 | 39,646 | 10,487 |
Recoveries | 0 | 0 | 0 |
Uncollectible Accounts Written-off | (35,778) | (16,223) | (1,800) |
Balance at End of Year | 0 | 35,778 | 12,355 |
Loan loss reserves | |||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Year | 1,258 | 97 | 2,750 |
Charged to Earnings | 1,238 | 1,161 | 4,526 |
Recoveries | 0 | 0 | 0 |
Uncollectible Accounts Written-off | (1,932) | 0 | (7,179) |
Balance at End of Year | $ 564 | $ 1,258 | $ 97 |
SCHEDULE III - REAL ESTATE AS_2
SCHEDULE III - REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION - Summary of Real Estate Properties (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 114,777 | |||
Initial Cost to Company | ||||
Land | 599,391 | |||
Buildings and Improvements | 5,225,195 | |||
Total | 5,824,586 | |||
Cost Capitalized Subsequent to Acquisition | 84,862 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 597,385 | |||
Building and Improvements | 5,283,198 | |||
Total | 5,880,583 | $ 6,255,883 | $ 6,334,855 | $ 2,292,751 |
Accumulated Depreciation and Amortization | (539,213) | (402,338) | $ (340,423) | $ (282,812) |
Deferred financing costs, net | 21,313 | |||
Aggregate cost of real estate for federal income tax purposes | 4,900,000 | |||
Secured Debt | ||||
Gross Amount at which Carried at Close of Period | ||||
Deferred financing costs, net | 1,707 | $ 1,800 | ||
Operating Segments | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | 114,777 | |||
Initial Cost to Company | ||||
Land | 599,391 | |||
Buildings and Improvements | 5,225,059 | |||
Total | 5,824,450 | |||
Cost Capitalized Subsequent to Acquisition | 84,261 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 597,385 | |||
Building and Improvements | 5,282,461 | |||
Total | 5,879,846 | |||
Accumulated Depreciation and Amortization | (538,860) | |||
Corporate Assets | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 136 | |||
Total | 136 | |||
Cost Capitalized Subsequent to Acquisition | 601 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 0 | |||
Building and Improvements | 737 | |||
Total | 737 | |||
Accumulated Depreciation and Amortization | (353) | |||
Multi-property Indebtedness | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | 10,703 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 0 | |||
Total | 0 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 0 | |||
Building and Improvements | 0 | |||
Total | 0 | |||
Accumulated Depreciation and Amortization | 0 | |||
Various Skilled Nursing/Transitional Care and Leased Senior Housing Facilities | Multi-property Indebtedness | Real Estate | ||||
Gross Amount at which Carried at Close of Period | ||||
Collateral amount | 10,700 | |||
Skilled Nursing/Transitional Care Facilities | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | 59,325 | |||
Initial Cost to Company | ||||
Land | 386,812 | |||
Buildings and Improvements | 3,298,282 | |||
Total | 3,685,094 | |||
Cost Capitalized Subsequent to Acquisition | 50,151 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 384,785 | |||
Building and Improvements | 3,316,881 | |||
Total | 3,701,666 | |||
Accumulated Depreciation and Amortization | (306,565) | |||
Skilled Nursing/Transitional Care Facilities | Forest Hills (SNF) | ||||
Initial Cost to Company | ||||
Land | 1,653 | |||
Buildings and Improvements | 11,259 | |||
Total | 12,912 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,653 | |||
Building and Improvements | 9,565 | |||
Total | 11,218 | |||
Accumulated Depreciation and Amortization | $ (3,655) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Seminole Estates | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 655 | |||
Buildings and Improvements | 3,527 | |||
Total | 4,182 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 655 | |||
Building and Improvements | 3,167 | |||
Total | 3,822 | |||
Accumulated Depreciation and Amortization | $ (1,126) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 32 years | |||
Skilled Nursing/Transitional Care Facilities | Bedford Hills | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 5,782 | |||
Initial Cost to Company | ||||
Land | 1,911 | |||
Buildings and Improvements | 12,245 | |||
Total | 14,156 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,911 | |||
Building and Improvements | 10,867 | |||
Total | 12,778 | |||
Accumulated Depreciation and Amortization | $ (4,272) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 36 years | |||
Skilled Nursing/Transitional Care Facilities | The Elms Care | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 312 | |||
Buildings and Improvements | 1,679 | |||
Total | 1,991 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 312 | |||
Building and Improvements | 1,334 | |||
Total | 1,646 | |||
Accumulated Depreciation and Amortization | $ (895) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 20 years | |||
Skilled Nursing/Transitional Care Facilities | Missouri River | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 10,366 | |||
Initial Cost to Company | ||||
Land | 2,023 | |||
Buildings and Improvements | 16,967 | |||
Total | 18,990 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,023 | |||
Building and Improvements | 15,531 | |||
Total | 17,554 | |||
Accumulated Depreciation and Amortization | $ (7,673) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
Skilled Nursing/Transitional Care Facilities | Deer Lodge | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 3,940 | |||
Initial Cost to Company | ||||
Land | 190 | |||
Buildings and Improvements | 3,032 | |||
Total | 3,222 | |||
Cost Capitalized Subsequent to Acquisition | 2 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 190 | |||
Building and Improvements | 2,619 | |||
Total | 2,809 | |||
Accumulated Depreciation and Amortization | $ (1,232) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
Skilled Nursing/Transitional Care Facilities | Arden House | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 17,879 | |||
Initial Cost to Company | ||||
Land | 2,250 | |||
Buildings and Improvements | 23,816 | |||
Total | 26,066 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,250 | |||
Building and Improvements | 22,119 | |||
Total | 24,369 | |||
Accumulated Depreciation and Amortization | $ (9,913) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 28 years | |||
Skilled Nursing/Transitional Care Facilities | Lake Drive | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 160 | |||
Buildings and Improvements | 549 | |||
Total | 709 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 160 | |||
Building and Improvements | 51 | |||
Total | 211 | |||
Accumulated Depreciation and Amortization | $ (42) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 10 years | |||
Skilled Nursing/Transitional Care Facilities | Mineral Springs | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 11,593 | |||
Initial Cost to Company | ||||
Land | 417 | |||
Buildings and Improvements | 5,352 | |||
Total | 5,769 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 417 | |||
Building and Improvements | 4,642 | |||
Total | 5,059 | |||
Accumulated Depreciation and Amortization | $ (1,832) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 43 years | |||
Skilled Nursing/Transitional Care Facilities | Wolfeboro | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 9,765 | |||
Initial Cost to Company | ||||
Land | 454 | |||
Buildings and Improvements | 4,531 | |||
Total | 4,985 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 454 | |||
Building and Improvements | 3,827 | |||
Total | 4,281 | |||
Accumulated Depreciation and Amortization | $ (1,383) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 41 years | |||
Skilled Nursing/Transitional Care Facilities | Broadmeadow Healthcare | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,650 | |||
Buildings and Improvements | 21,730 | |||
Total | 23,380 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,650 | |||
Building and Improvements | 21,730 | |||
Total | 23,380 | |||
Accumulated Depreciation and Amortization | $ (5,275) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Capitol Healthcare | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 4,940 | |||
Buildings and Improvements | 15,500 | |||
Total | 20,440 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 4,940 | |||
Building and Improvements | 15,500 | |||
Total | 20,440 | |||
Accumulated Depreciation and Amortization | $ (3,935) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Pike Creek Healthcare | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,460 | |||
Buildings and Improvements | 25,240 | |||
Total | 27,700 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,460 | |||
Building and Improvements | 25,240 | |||
Total | 27,700 | |||
Accumulated Depreciation and Amortization | $ (6,195) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Renaissance Healthcare | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,640 | |||
Buildings and Improvements | 22,620 | |||
Total | 24,260 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,640 | |||
Building and Improvements | 22,620 | |||
Total | 24,260 | |||
Accumulated Depreciation and Amortization | $ (5,660) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Clara Burke | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,527 | |||
Buildings and Improvements | 12,453 | |||
Total | 14,980 | |||
Cost Capitalized Subsequent to Acquisition | 179 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,527 | |||
Building and Improvements | 12,632 | |||
Total | 15,159 | |||
Accumulated Depreciation and Amortization | $ (3,065) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Warrington | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,617 | |||
Buildings and Improvements | 11,662 | |||
Total | 14,279 | |||
Cost Capitalized Subsequent to Acquisition | 106 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,617 | |||
Building and Improvements | 11,768 | |||
Total | 14,385 | |||
Accumulated Depreciation and Amortization | $ (2,614) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Ridgecrest | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 509 | |||
Buildings and Improvements | 5,018 | |||
Total | 5,527 | |||
Cost Capitalized Subsequent to Acquisition | 1,333 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 509 | |||
Building and Improvements | 6,351 | |||
Total | 6,860 | |||
Accumulated Depreciation and Amortization | $ (1,687) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Arbrook Plaza | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 3,783 | |||
Buildings and Improvements | 14,219 | |||
Total | 18,002 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 3,783 | |||
Building and Improvements | 14,219 | |||
Total | 18,002 | |||
Accumulated Depreciation and Amortization | $ (2,895) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Northgate Plaza | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 4,901 | |||
Buildings and Improvements | 10,299 | |||
Total | 15,200 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 4,901 | |||
Building and Improvements | 10,299 | |||
Total | 15,200 | |||
Accumulated Depreciation and Amortization | $ (2,160) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Gulf Pointe Plaza | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,005 | |||
Buildings and Improvements | 6,628 | |||
Total | 7,633 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,005 | |||
Building and Improvements | 6,628 | |||
Total | 7,633 | |||
Accumulated Depreciation and Amortization | $ (1,461) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Gateway Senior Living | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 6,368 | |||
Buildings and Improvements | 29,919 | |||
Total | 36,287 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 6,368 | |||
Building and Improvements | 29,919 | |||
Total | 36,287 | |||
Accumulated Depreciation and Amortization | $ (4,982) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Legacy | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 615 | |||
Buildings and Improvements | 16,176 | |||
Total | 16,791 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 615 | |||
Building and Improvements | 16,176 | |||
Total | 16,791 | |||
Accumulated Depreciation and Amortization | $ (2,955) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Pointe | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 615 | |||
Buildings and Improvements | 2,943 | |||
Total | 3,558 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 615 | |||
Building and Improvements | 2,943 | |||
Total | 3,558 | |||
Accumulated Depreciation and Amortization | $ (638) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Regency | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 246 | |||
Buildings and Improvements | 6,206 | |||
Total | 6,452 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 246 | |||
Building and Improvements | 6,206 | |||
Total | 6,452 | |||
Accumulated Depreciation and Amortization | $ (1,380) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Parkmoor Village | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 430 | |||
Buildings and Improvements | 13,703 | |||
Total | 14,133 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 430 | |||
Building and Improvements | 13,703 | |||
Total | 14,133 | |||
Accumulated Depreciation and Amortization | $ (2,637) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Adams PARC | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,332 | |||
Buildings and Improvements | 6,904 | |||
Total | 8,236 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,332 | |||
Building and Improvements | 6,904 | |||
Total | 8,236 | |||
Accumulated Depreciation and Amortization | $ (1,121) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | PARCway | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,189 | |||
Buildings and Improvements | 23,567 | |||
Total | 25,756 | |||
Cost Capitalized Subsequent to Acquisition | 890 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,189 | |||
Building and Improvements | 24,457 | |||
Total | 26,646 | |||
Accumulated Depreciation and Amortization | $ (3,627) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Brookhaven Extensive Care | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 869 | |||
Buildings and Improvements | 5,236 | |||
Total | 6,105 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 869 | |||
Building and Improvements | 5,237 | |||
Total | 6,106 | |||
Accumulated Depreciation and Amortization | $ (950) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Cadia Healthcare of Hyattsville | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 6,343 | |||
Buildings and Improvements | 65,573 | |||
Total | 71,916 | |||
Cost Capitalized Subsequent to Acquisition | 14 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 6,343 | |||
Building and Improvements | 65,587 | |||
Total | 71,930 | |||
Accumulated Depreciation and Amortization | $ (8,890) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Cadia Healthcare of Annapolis | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,548 | |||
Buildings and Improvements | 40,773 | |||
Total | 42,321 | |||
Cost Capitalized Subsequent to Acquisition | 103 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,548 | |||
Building and Improvements | 40,876 | |||
Total | 42,424 | |||
Accumulated Depreciation and Amortization | $ (5,155) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Cadia Healthcare of Wheaton | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 676 | |||
Buildings and Improvements | 56,897 | |||
Total | 57,573 | |||
Cost Capitalized Subsequent to Acquisition | 22 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 676 | |||
Building and Improvements | 56,919 | |||
Total | 57,595 | |||
Accumulated Depreciation and Amortization | $ (7,050) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Cadia Healthcare of Hagerstown | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,475 | |||
Buildings and Improvements | 56,237 | |||
Total | 57,712 | |||
Cost Capitalized Subsequent to Acquisition | 1,236 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,475 | |||
Building and Improvements | 57,473 | |||
Total | 58,948 | |||
Accumulated Depreciation and Amortization | $ (6,536) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Cadia Healthcare of Spring Brook | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 963 | |||
Buildings and Improvements | 48,085 | |||
Total | 49,048 | |||
Cost Capitalized Subsequent to Acquisition | 7 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 963 | |||
Building and Improvements | 48,092 | |||
Total | 49,055 | |||
Accumulated Depreciation and Amortization | $ (4,599) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Andrew Residence | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,931 | |||
Buildings and Improvements | 6,943 | |||
Total | 9,874 | |||
Cost Capitalized Subsequent to Acquisition | 192 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,931 | |||
Building and Improvements | 7,135 | |||
Total | 10,066 | |||
Accumulated Depreciation and Amortization | $ (596) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Avamere Riverpark of Eugene | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,205 | |||
Buildings and Improvements | 28,700 | |||
Total | 30,905 | |||
Cost Capitalized Subsequent to Acquisition | 2,252 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,205 | |||
Building and Improvements | 30,952 | |||
Total | 33,157 | |||
Accumulated Depreciation and Amortization | $ (2,167) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Avamere Rehab of Lebanon | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 958 | |||
Buildings and Improvements | 14,176 | |||
Total | 15,134 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 958 | |||
Building and Improvements | 14,176 | |||
Total | 15,134 | |||
Accumulated Depreciation and Amortization | $ (894) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Avamere Crestview of Portland | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,791 | |||
Buildings and Improvements | 12,833 | |||
Total | 14,624 | |||
Cost Capitalized Subsequent to Acquisition | 2,761 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,791 | |||
Building and Improvements | 15,594 | |||
Total | 17,385 | |||
Accumulated Depreciation and Amortization | $ (1,277) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Avamere Rehabilitation of King City | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,011 | |||
Buildings and Improvements | 11,667 | |||
Total | 13,678 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,011 | |||
Building and Improvements | 11,667 | |||
Total | 13,678 | |||
Accumulated Depreciation and Amortization | $ (761) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Avamere Rehabilitation of Hillsboro | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,387 | |||
Buildings and Improvements | 14,028 | |||
Total | 15,415 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,387 | |||
Building and Improvements | 14,028 | |||
Total | 15,415 | |||
Accumulated Depreciation and Amortization | $ (884) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Avamere Rehab of Junction City | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 584 | |||
Buildings and Improvements | 7,901 | |||
Total | 8,485 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 584 | |||
Building and Improvements | 7,901 | |||
Total | 8,485 | |||
Accumulated Depreciation and Amortization | $ (517) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Avamere Rehab of Eugene | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,380 | |||
Buildings and Improvements | 14,921 | |||
Total | 16,301 | |||
Cost Capitalized Subsequent to Acquisition | 1,791 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,380 | |||
Building and Improvements | 16,712 | |||
Total | 18,092 | |||
Accumulated Depreciation and Amortization | $ (1,260) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Avamere Rehab of Coos Bay | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 829 | |||
Buildings and Improvements | 8,518 | |||
Total | 9,347 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 829 | |||
Building and Improvements | 8,518 | |||
Total | 9,347 | |||
Accumulated Depreciation and Amortization | $ (578) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Avamere Rehab of Clackamas | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 792 | |||
Buildings and Improvements | 5,000 | |||
Total | 5,792 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 792 | |||
Building and Improvements | 5,000 | |||
Total | 5,792 | |||
Accumulated Depreciation and Amortization | $ (334) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Avamere Rehab of Newport | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 406 | |||
Buildings and Improvements | 5,001 | |||
Total | 5,407 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 406 | |||
Building and Improvements | 5,001 | |||
Total | 5,407 | |||
Accumulated Depreciation and Amortization | $ (319) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Avamere Rehab of Oregon City | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,496 | |||
Buildings and Improvements | 12,142 | |||
Total | 13,638 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,496 | |||
Building and Improvements | 12,142 | |||
Total | 13,638 | |||
Accumulated Depreciation and Amortization | $ (765) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Avamere Transitional Care of Puget Sound | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,771 | |||
Buildings and Improvements | 11,595 | |||
Total | 13,366 | |||
Cost Capitalized Subsequent to Acquisition | 15 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,771 | |||
Building and Improvements | 11,610 | |||
Total | 13,381 | |||
Accumulated Depreciation and Amortization | $ (852) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Richmond Beach Rehab | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 4,703 | |||
Buildings and Improvements | 14,444 | |||
Total | 19,147 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 4,703 | |||
Building and Improvements | 14,444 | |||
Total | 19,147 | |||
Accumulated Depreciation and Amortization | $ (943) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | St. Francis of Bellingham | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 15,330 | |||
Total | 15,330 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 0 | |||
Building and Improvements | 15,330 | |||
Total | 15,330 | |||
Accumulated Depreciation and Amortization | $ (1,010) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Avamere Olympic Rehabilitation of Sequim | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 427 | |||
Buildings and Improvements | 4,450 | |||
Total | 4,877 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 427 | |||
Building and Improvements | 4,450 | |||
Total | 4,877 | |||
Accumulated Depreciation and Amortization | $ (352) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Avamere Heritage Rehabilitation of Tacoma | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,705 | |||
Buildings and Improvements | 4,952 | |||
Total | 6,657 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,705 | |||
Building and Improvements | 4,952 | |||
Total | 6,657 | |||
Accumulated Depreciation and Amortization | $ (341) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Avamere at Pacific Ridge | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,195 | |||
Buildings and Improvements | 1,956 | |||
Total | 4,151 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,195 | |||
Building and Improvements | 1,956 | |||
Total | 4,151 | |||
Accumulated Depreciation and Amortization | $ (178) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Avamere Rehabilitation of Cascade Park | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,782 | |||
Buildings and Improvements | 15,116 | |||
Total | 16,898 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,782 | |||
Building and Improvements | 15,116 | |||
Total | 16,898 | |||
Accumulated Depreciation and Amortization | $ (1,031) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | The Pearl at Kruse Way | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 5,947 | |||
Buildings and Improvements | 13,401 | |||
Total | 19,348 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 5,947 | |||
Building and Improvements | 13,401 | |||
Total | 19,348 | |||
Accumulated Depreciation and Amortization | $ (882) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Avamere at Medford | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,043 | |||
Buildings and Improvements | 38,485 | |||
Total | 40,528 | |||
Cost Capitalized Subsequent to Acquisition | 2,960 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,043 | |||
Building and Improvements | 41,445 | |||
Total | 43,488 | |||
Accumulated Depreciation and Amortization | $ (2,864) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Avamere Bellingham Healthcare and Rehab Services | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,908 | |||
Buildings and Improvements | 2,058 | |||
Total | 4,966 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,908 | |||
Building and Improvements | 2,058 | |||
Total | 4,966 | |||
Accumulated Depreciation and Amortization | $ (182) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Queen Anne Healthcare | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,508 | |||
Buildings and Improvements | 6,401 | |||
Total | 8,909 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,508 | |||
Building and Improvements | 6,401 | |||
Total | 8,909 | |||
Accumulated Depreciation and Amortization | $ (427) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Avamere Transitional Care and Rehab - Boise | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 681 | |||
Buildings and Improvements | 9,348 | |||
Total | 10,029 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 681 | |||
Building and Improvements | 9,348 | |||
Total | 10,029 | |||
Accumulated Depreciation and Amortization | $ (623) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Avamere Transitional Care at Sunnyside | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,114 | |||
Buildings and Improvements | 15,651 | |||
Total | 17,765 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,114 | |||
Building and Improvements | 15,651 | |||
Total | 17,765 | |||
Accumulated Depreciation and Amortization | $ (1,016) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Avamere Health Services of Rogue Valley | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,375 | |||
Buildings and Improvements | 23,808 | |||
Total | 25,183 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,375 | |||
Building and Improvements | 23,808 | |||
Total | 25,183 | |||
Accumulated Depreciation and Amortization | $ (1,559) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Avamere Transitional Care and Rehab - Malley | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,662 | |||
Buildings and Improvements | 26,014 | |||
Total | 27,676 | |||
Cost Capitalized Subsequent to Acquisition | 3,258 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,662 | |||
Building and Improvements | 29,272 | |||
Total | 30,934 | |||
Accumulated Depreciation and Amortization | $ (2,179) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Avamere Transitional Care and Rehab - Brighton | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,933 | |||
Buildings and Improvements | 11,624 | |||
Total | 13,557 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,933 | |||
Building and Improvements | 11,624 | |||
Total | 13,557 | |||
Accumulated Depreciation and Amortization | $ (779) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Phoenix Rehabilitation Services | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,270 | |||
Buildings and Improvements | 11,502 | |||
Total | 12,772 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,270 | |||
Building and Improvements | 11,502 | |||
Total | 12,772 | |||
Accumulated Depreciation and Amortization | $ (726) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Tustin Subacute Care Facility | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,889 | |||
Buildings and Improvements | 11,682 | |||
Total | 13,571 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,889 | |||
Building and Improvements | 11,682 | |||
Total | 13,571 | |||
Accumulated Depreciation and Amortization | $ (717) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | La Mesa Inpatient Rehabilitation Facility | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,276 | |||
Buildings and Improvements | 8,177 | |||
Total | 9,453 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,276 | |||
Building and Improvements | 8,177 | |||
Total | 9,453 | |||
Accumulated Depreciation and Amortization | $ (522) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Westminster | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,128 | |||
Buildings and Improvements | 6,614 | |||
Total | 8,742 | |||
Cost Capitalized Subsequent to Acquisition | 487 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,128 | |||
Building and Improvements | 7,101 | |||
Total | 9,229 | |||
Accumulated Depreciation and Amortization | $ (630) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Maple Wood Care Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,142 | |||
Buildings and Improvements | 3,226 | |||
Total | 4,368 | |||
Cost Capitalized Subsequent to Acquisition | 653 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,142 | |||
Building and Improvements | 3,879 | |||
Total | 5,021 | |||
Accumulated Depreciation and Amortization | $ (539) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Garden Valley Nursing & Rehab | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,985 | |||
Buildings and Improvements | 2,714 | |||
Total | 4,699 | |||
Cost Capitalized Subsequent to Acquisition | 303 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,985 | |||
Building and Improvements | 3,017 | |||
Total | 5,002 | |||
Accumulated Depreciation and Amortization | $ (490) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Worthington Nursing & Rehab | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 697 | |||
Buildings and Improvements | 10,688 | |||
Total | 11,385 | |||
Cost Capitalized Subsequent to Acquisition | 285 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 697 | |||
Building and Improvements | 10,973 | |||
Total | 11,670 | |||
Accumulated Depreciation and Amortization | $ (892) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Burlington House Rehabilitative and Alzheimer’s Care Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,686 | |||
Buildings and Improvements | 10,062 | |||
Total | 12,748 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,686 | |||
Building and Improvements | 10,062 | |||
Total | 12,748 | |||
Accumulated Depreciation and Amortization | $ (758) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Charlottesville | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,840 | |||
Buildings and Improvements | 8,450 | |||
Total | 11,290 | |||
Cost Capitalized Subsequent to Acquisition | 1,157 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,840 | |||
Building and Improvements | 9,607 | |||
Total | 12,447 | |||
Accumulated Depreciation and Amortization | $ (769) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Sleepy Hollow | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 7,241 | |||
Buildings and Improvements | 17,727 | |||
Total | 24,968 | |||
Cost Capitalized Subsequent to Acquisition | 1,806 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 7,241 | |||
Building and Improvements | 19,533 | |||
Total | 26,774 | |||
Accumulated Depreciation and Amortization | $ (1,405) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Petersburg | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 988 | |||
Buildings and Improvements | 8,416 | |||
Total | 9,404 | |||
Cost Capitalized Subsequent to Acquisition | 146 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 988 | |||
Building and Improvements | 8,562 | |||
Total | 9,550 | |||
Accumulated Depreciation and Amortization | $ (641) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Battlefield Park | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,174 | |||
Buildings and Improvements | 8,858 | |||
Total | 10,032 | |||
Cost Capitalized Subsequent to Acquisition | 151 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,174 | |||
Building and Improvements | 9,009 | |||
Total | 10,183 | |||
Accumulated Depreciation and Amortization | $ (664) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Hagerstown | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,393 | |||
Buildings and Improvements | 13,438 | |||
Total | 14,831 | |||
Cost Capitalized Subsequent to Acquisition | 150 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,393 | |||
Building and Improvements | 13,588 | |||
Total | 14,981 | |||
Accumulated Depreciation and Amortization | $ (959) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Cumberland | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 800 | |||
Buildings and Improvements | 16,973 | |||
Total | 17,773 | |||
Cost Capitalized Subsequent to Acquisition | 457 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 800 | |||
Building and Improvements | 17,430 | |||
Total | 18,230 | |||
Accumulated Depreciation and Amortization | $ (1,219) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Gilroy Healthcare and Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 662 | |||
Buildings and Improvements | 23,775 | |||
Total | 24,437 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 662 | |||
Building and Improvements | 23,775 | |||
Total | 24,437 | |||
Accumulated Depreciation and Amortization | $ (1,482) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | North Cascades Health and Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,437 | |||
Buildings and Improvements | 14,196 | |||
Total | 15,633 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,437 | |||
Building and Improvements | 14,196 | |||
Total | 15,633 | |||
Accumulated Depreciation and Amortization | $ (926) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Granite Rehabilitation & Wellness | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 387 | |||
Buildings and Improvements | 13,613 | |||
Total | 14,000 | |||
Cost Capitalized Subsequent to Acquisition | 2,246 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 387 | |||
Building and Improvements | 15,859 | |||
Total | 16,246 | |||
Accumulated Depreciation and Amortization | $ (1,170) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Rawlins Rehabilitation & Wellness | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 281 | |||
Buildings and Improvements | 6,007 | |||
Total | 6,288 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 281 | |||
Building and Improvements | 6,007 | |||
Total | 6,288 | |||
Accumulated Depreciation and Amortization | $ (389) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Wind River Rehabilitation & Wellness | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 199 | |||
Buildings and Improvements | 11,398 | |||
Total | 11,597 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 199 | |||
Building and Improvements | 11,398 | |||
Total | 11,597 | |||
Accumulated Depreciation and Amortization | $ (720) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Sage View Care Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 420 | |||
Buildings and Improvements | 8,665 | |||
Total | 9,085 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 420 | |||
Building and Improvements | 8,665 | |||
Total | 9,085 | |||
Accumulated Depreciation and Amortization | $ (571) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Shelton Health and Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 415 | |||
Buildings and Improvements | 8,965 | |||
Total | 9,380 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 415 | |||
Building and Improvements | 8,965 | |||
Total | 9,380 | |||
Accumulated Depreciation and Amortization | $ (629) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Dundee Nursing Home | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,437 | |||
Buildings and Improvements | 4,631 | |||
Total | 6,068 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,437 | |||
Building and Improvements | 4,631 | |||
Total | 6,068 | |||
Accumulated Depreciation and Amortization | $ (334) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Mt. Pleasant Nursing Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,689 | |||
Buildings and Improvements | 3,942 | |||
Total | 6,631 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,689 | |||
Building and Improvements | 3,942 | |||
Total | 6,631 | |||
Accumulated Depreciation and Amortization | $ (302) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Tri-State Comp Care Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,811 | |||
Buildings and Improvements | 4,963 | |||
Total | 6,774 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,811 | |||
Building and Improvements | 4,963 | |||
Total | 6,774 | |||
Accumulated Depreciation and Amortization | $ (388) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Epic-Conway | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,408 | |||
Buildings and Improvements | 10,784 | |||
Total | 12,192 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,408 | |||
Building and Improvements | 10,784 | |||
Total | 12,192 | |||
Accumulated Depreciation and Amortization | $ (758) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Epic- Bayview | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,842 | |||
Buildings and Improvements | 11,389 | |||
Total | 13,231 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,842 | |||
Building and Improvements | 11,389 | |||
Total | 13,231 | |||
Accumulated Depreciation and Amortization | $ (777) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Focused Care at Baytown | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 479 | |||
Buildings and Improvements | 6,351 | |||
Total | 6,830 | |||
Cost Capitalized Subsequent to Acquisition | 209 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 479 | |||
Building and Improvements | 6,456 | |||
Total | 6,935 | |||
Accumulated Depreciation and Amortization | $ (451) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Focused Care at Allenbrook | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 426 | |||
Buildings and Improvements | 3,236 | |||
Total | 3,662 | |||
Cost Capitalized Subsequent to Acquisition | 173 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 426 | |||
Building and Improvements | 3,371 | |||
Total | 3,797 | |||
Accumulated Depreciation and Amortization | $ (297) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Focused Care at Huntsville | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 302 | |||
Buildings and Improvements | 3,153 | |||
Total | 3,455 | |||
Cost Capitalized Subsequent to Acquisition | 75 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 302 | |||
Building and Improvements | 3,200 | |||
Total | 3,502 | |||
Accumulated Depreciation and Amortization | $ (250) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Focused Care at Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 231 | |||
Buildings and Improvements | 1,335 | |||
Total | 1,566 | |||
Cost Capitalized Subsequent to Acquisition | 312 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 231 | |||
Building and Improvements | 1,555 | |||
Total | 1,786 | |||
Accumulated Depreciation and Amortization | $ (174) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Focused Care at Humble | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,114 | |||
Buildings and Improvements | 1,643 | |||
Total | 3,757 | |||
Cost Capitalized Subsequent to Acquisition | 596 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,114 | |||
Building and Improvements | 2,099 | |||
Total | 4,213 | |||
Accumulated Depreciation and Amortization | $ (268) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Focused Care at Beechnut | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,019 | |||
Buildings and Improvements | 5,734 | |||
Total | 6,753 | |||
Cost Capitalized Subsequent to Acquisition | 318 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,019 | |||
Building and Improvements | 5,876 | |||
Total | 6,895 | |||
Accumulated Depreciation and Amortization | $ (436) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Focused Care at Linden | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 112 | |||
Buildings and Improvements | 256 | |||
Total | 368 | |||
Cost Capitalized Subsequent to Acquisition | 133 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 112 | |||
Building and Improvements | 331 | |||
Total | 443 | |||
Accumulated Depreciation and Amortization | $ (57) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Focused Care at Sherman | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 469 | |||
Buildings and Improvements | 6,310 | |||
Total | 6,779 | |||
Cost Capitalized Subsequent to Acquisition | 255 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 469 | |||
Building and Improvements | 6,400 | |||
Total | 6,869 | |||
Accumulated Depreciation and Amortization | $ (463) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Focused Care at Mount Pleasant | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 250 | |||
Buildings and Improvements | 6,913 | |||
Total | 7,163 | |||
Cost Capitalized Subsequent to Acquisition | 345 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 250 | |||
Building and Improvements | 7,249 | |||
Total | 7,499 | |||
Accumulated Depreciation and Amortization | $ (532) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Focused Care at Waxahachie | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 416 | |||
Buildings and Improvements | 7,259 | |||
Total | 7,675 | |||
Cost Capitalized Subsequent to Acquisition | 205 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 416 | |||
Building and Improvements | 7,412 | |||
Total | 7,828 | |||
Accumulated Depreciation and Amortization | $ (539) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Focused Care at Gilmer | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 707 | |||
Buildings and Improvements | 4,552 | |||
Total | 5,259 | |||
Cost Capitalized Subsequent to Acquisition | 93 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 707 | |||
Building and Improvements | 4,605 | |||
Total | 5,312 | |||
Accumulated Depreciation and Amortization | $ (352) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Hearthstone of Northern Nevada | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,986 | |||
Buildings and Improvements | 9,004 | |||
Total | 10,990 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,986 | |||
Building and Improvements | 9,004 | |||
Total | 10,990 | |||
Accumulated Depreciation and Amortization | $ (631) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Sunset Hills Healthcare and Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,595 | |||
Buildings and Improvements | 5,822 | |||
Total | 7,417 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 966 | |||
Building and Improvements | 3,157 | |||
Total | 4,123 | |||
Accumulated Depreciation and Amortization | $ 0 | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Mountainview Specialty Care Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 549 | |||
Buildings and Improvements | 9,926 | |||
Total | 10,475 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 549 | |||
Building and Improvements | 9,926 | |||
Total | 10,475 | |||
Accumulated Depreciation and Amortization | $ (824) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Richmond | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 259 | |||
Buildings and Improvements | 9,819 | |||
Total | 10,078 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 259 | |||
Building and Improvements | 9,819 | |||
Total | 10,078 | |||
Accumulated Depreciation and Amortization | $ (655) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Petersburg | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 581 | |||
Buildings and Improvements | 5,367 | |||
Total | 5,948 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 581 | |||
Building and Improvements | 5,367 | |||
Total | 5,948 | |||
Accumulated Depreciation and Amortization | $ (383) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Beverly Health - Ft. Pierce | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 787 | |||
Buildings and Improvements | 16,648 | |||
Total | 17,435 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 787 | |||
Building and Improvements | 16,648 | |||
Total | 17,435 | |||
Accumulated Depreciation and Amortization | $ (1,067) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Maryville | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 114 | |||
Buildings and Improvements | 5,955 | |||
Total | 6,069 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 150 | |||
Building and Improvements | 5,955 | |||
Total | 6,105 | |||
Accumulated Depreciation and Amortization | $ (437) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Ashland Healthcare | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 765 | |||
Buildings and Improvements | 2,669 | |||
Total | 3,434 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 765 | |||
Building and Improvements | 2,669 | |||
Total | 3,434 | |||
Accumulated Depreciation and Amortization | $ (210) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Bellefontaine Gardens | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,071 | |||
Buildings and Improvements | 5,739 | |||
Total | 7,810 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,071 | |||
Building and Improvements | 5,739 | |||
Total | 7,810 | |||
Accumulated Depreciation and Amortization | $ (451) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Current River Nursing Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 657 | |||
Buildings and Improvements | 8,251 | |||
Total | 8,908 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 657 | |||
Building and Improvements | 8,251 | |||
Total | 8,908 | |||
Accumulated Depreciation and Amortization | $ (571) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Dixon Nursing & Rehab | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 521 | |||
Buildings and Improvements | 3,358 | |||
Total | 3,879 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 521 | |||
Building and Improvements | 3,358 | |||
Total | 3,879 | |||
Accumulated Depreciation and Amortization | $ (252) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Forsyth Nursing & Rehab | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 594 | |||
Buildings and Improvements | 8,549 | |||
Total | 9,143 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 594 | |||
Building and Improvements | 8,549 | |||
Total | 9,143 | |||
Accumulated Depreciation and Amortization | $ (601) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Glenwood Healthcare | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 658 | |||
Buildings and Improvements | 901 | |||
Total | 1,559 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 658 | |||
Building and Improvements | 901 | |||
Total | 1,559 | |||
Accumulated Depreciation and Amortization | $ (88) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Silex Community Care | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 807 | |||
Buildings and Improvements | 4,990 | |||
Total | 5,797 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 807 | |||
Building and Improvements | 4,990 | |||
Total | 5,797 | |||
Accumulated Depreciation and Amortization | $ (356) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | South Hampton Place | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,322 | |||
Buildings and Improvements | 6,547 | |||
Total | 8,869 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,322 | |||
Building and Improvements | 6,547 | |||
Total | 8,869 | |||
Accumulated Depreciation and Amortization | $ (474) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Strafford Care Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,634 | |||
Buildings and Improvements | 6,518 | |||
Total | 8,152 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,634 | |||
Building and Improvements | 6,518 | |||
Total | 8,152 | |||
Accumulated Depreciation and Amortization | $ (462) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Windsor Healthcare & Rehab | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 471 | |||
Buildings and Improvements | 6,819 | |||
Total | 7,290 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 471 | |||
Building and Improvements | 6,819 | |||
Total | 7,290 | |||
Accumulated Depreciation and Amortization | $ (438) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Park Manor of Conroe | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,222 | |||
Buildings and Improvements | 19,099 | |||
Total | 20,321 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,222 | |||
Building and Improvements | 19,099 | |||
Total | 20,321 | |||
Accumulated Depreciation and Amortization | $ (1,198) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Park Manor of Cypress Station | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,334 | |||
Buildings and Improvements | 11,615 | |||
Total | 12,949 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,334 | |||
Building and Improvements | 11,615 | |||
Total | 12,949 | |||
Accumulated Depreciation and Amortization | $ (759) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Park Manor of Humble | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,541 | |||
Buildings and Improvements | 12,332 | |||
Total | 13,873 | |||
Cost Capitalized Subsequent to Acquisition | 645 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,541 | |||
Building and Improvements | 12,977 | |||
Total | 14,518 | |||
Accumulated Depreciation and Amortization | $ (870) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Park Manor of Quail Valley | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,825 | |||
Buildings and Improvements | 9,681 | |||
Total | 11,506 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,825 | |||
Building and Improvements | 9,681 | |||
Total | 11,506 | |||
Accumulated Depreciation and Amortization | $ (657) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Park Manor of Westchase | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,676 | |||
Buildings and Improvements | 7,396 | |||
Total | 10,072 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,676 | |||
Building and Improvements | 7,396 | |||
Total | 10,072 | |||
Accumulated Depreciation and Amortization | $ (514) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Park Manor of CyFair | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,732 | |||
Buildings and Improvements | 12,921 | |||
Total | 14,653 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,732 | |||
Building and Improvements | 12,921 | |||
Total | 14,653 | |||
Accumulated Depreciation and Amortization | $ (838) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Park Manor of McKinney | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,441 | |||
Buildings and Improvements | 9,017 | |||
Total | 10,458 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,441 | |||
Building and Improvements | 9,017 | |||
Total | 10,458 | |||
Accumulated Depreciation and Amortization | $ (638) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Tanglewood Health and Rehabilitation | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 176 | |||
Buildings and Improvements | 2,340 | |||
Total | 2,516 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 176 | |||
Building and Improvements | 2,340 | |||
Total | 2,516 | |||
Accumulated Depreciation and Amortization | $ (175) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Smoky Hill Health and Rehabilitation | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 301 | |||
Buildings and Improvements | 4,201 | |||
Total | 4,502 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 301 | |||
Building and Improvements | 4,201 | |||
Total | 4,502 | |||
Accumulated Depreciation and Amortization | $ (300) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Belleville Health Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 600 | |||
Buildings and Improvements | 1,664 | |||
Total | 2,264 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 600 | |||
Building and Improvements | 1,664 | |||
Total | 2,264 | |||
Accumulated Depreciation and Amortization | $ (149) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Westridge Healthcare Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,067 | |||
Buildings and Improvements | 7,061 | |||
Total | 8,128 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,067 | |||
Building and Improvements | 7,061 | |||
Total | 8,128 | |||
Accumulated Depreciation and Amortization | $ (474) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Willow Bend Living Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,168 | |||
Buildings and Improvements | 9,562 | |||
Total | 10,730 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,168 | |||
Building and Improvements | 9,562 | |||
Total | 10,730 | |||
Accumulated Depreciation and Amortization | $ (612) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Twin City Healthcare | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 345 | |||
Buildings and Improvements | 8,852 | |||
Total | 9,197 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 345 | |||
Building and Improvements | 8,852 | |||
Total | 9,197 | |||
Accumulated Depreciation and Amortization | $ (566) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Pine Knoll Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 711 | |||
Buildings and Improvements | 5,554 | |||
Total | 6,265 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 711 | |||
Building and Improvements | 5,554 | |||
Total | 6,265 | |||
Accumulated Depreciation and Amortization | $ (374) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Willow Crossing Health & Rehab Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,290 | |||
Buildings and Improvements | 10,714 | |||
Total | 12,004 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,290 | |||
Building and Improvements | 10,714 | |||
Total | 12,004 | |||
Accumulated Depreciation and Amortization | $ (688) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Persimmon Ridge Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 315 | |||
Buildings and Improvements | 9,848 | |||
Total | 10,163 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 315 | |||
Building and Improvements | 9,848 | |||
Total | 10,163 | |||
Accumulated Depreciation and Amortization | $ (642) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Vermillion Convalescent Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 884 | |||
Buildings and Improvements | 9,839 | |||
Total | 10,723 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 884 | |||
Building and Improvements | 9,839 | |||
Total | 10,723 | |||
Accumulated Depreciation and Amortization | $ (674) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Las Vegas Post Acute & Rehabilitation | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 509 | |||
Buildings and Improvements | 18,216 | |||
Total | 18,725 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 509 | |||
Building and Improvements | 18,216 | |||
Total | 18,725 | |||
Accumulated Depreciation and Amortization | $ (1,118) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Torey Pines Rehabilitation Hospital | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 3,169 | |||
Buildings and Improvements | 7,863 | |||
Total | 11,032 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 3,169 | |||
Building and Improvements | 7,863 | |||
Total | 11,032 | |||
Accumulated Depreciation and Amortization | $ (544) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Villa Campana Rehabilitation Hospital | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,800 | |||
Buildings and Improvements | 4,387 | |||
Total | 6,187 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,800 | |||
Building and Improvements | 4,387 | |||
Total | 6,187 | |||
Accumulated Depreciation and Amortization | $ (352) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Kachina Point Rehabilitation Hospital | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,035 | |||
Buildings and Improvements | 10,981 | |||
Total | 13,016 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,035 | |||
Building and Improvements | 10,981 | |||
Total | 13,016 | |||
Accumulated Depreciation and Amortization | $ (770) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Bay View Rehabilitation Hospital | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 3,078 | |||
Buildings and Improvements | 22,328 | |||
Total | 25,406 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 3,078 | |||
Building and Improvements | 22,328 | |||
Total | 25,406 | |||
Accumulated Depreciation and Amortization | $ (1,402) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Dover Center for Health & Rehabilitation | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 522 | |||
Buildings and Improvements | 5,839 | |||
Total | 6,361 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 522 | |||
Building and Improvements | 5,839 | |||
Total | 6,361 | |||
Accumulated Depreciation and Amortization | $ (510) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Augusta Center for Health & Rehabilitation | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 135 | |||
Buildings and Improvements | 6,470 | |||
Total | 6,605 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 135 | |||
Building and Improvements | 6,470 | |||
Total | 6,605 | |||
Accumulated Depreciation and Amortization | $ (444) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Eastside Center for Health & Rehabilitation | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 302 | |||
Buildings and Improvements | 1,811 | |||
Total | 2,113 | |||
Cost Capitalized Subsequent to Acquisition | 632 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 302 | |||
Building and Improvements | 2,443 | |||
Total | 2,745 | |||
Accumulated Depreciation and Amortization | $ (147) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Winship Green Center for Health & Rehabilitation | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 250 | |||
Buildings and Improvements | 1,934 | |||
Total | 2,184 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 250 | |||
Building and Improvements | 1,934 | |||
Total | 2,184 | |||
Accumulated Depreciation and Amortization | $ (148) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Brewer Center for Health & Rehabilitation | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 177 | |||
Buildings and Improvements | 14,497 | |||
Total | 14,674 | |||
Cost Capitalized Subsequent to Acquisition | 944 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 177 | |||
Building and Improvements | 15,441 | |||
Total | 15,618 | |||
Accumulated Depreciation and Amortization | $ (967) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Kennebunk Center for Health & Rehabilitation | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 198 | |||
Buildings and Improvements | 6,822 | |||
Total | 7,020 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 198 | |||
Building and Improvements | 6,822 | |||
Total | 7,020 | |||
Accumulated Depreciation and Amortization | $ (461) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Norway Center for Health & Rehabilitation | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 791 | |||
Buildings and Improvements | 3,680 | |||
Total | 4,471 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 791 | |||
Building and Improvements | 3,680 | |||
Total | 4,471 | |||
Accumulated Depreciation and Amortization | $ (269) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Brentwood Center for Health & Rehabilitation | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 134 | |||
Buildings and Improvements | 2,072 | |||
Total | 2,206 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 134 | |||
Building and Improvements | 2,072 | |||
Total | 2,206 | |||
Accumulated Depreciation and Amortization | $ (163) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Country Center for Health & Rehabilitation | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 269 | |||
Buildings and Improvements | 4,436 | |||
Total | 4,705 | |||
Cost Capitalized Subsequent to Acquisition | 12 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 269 | |||
Building and Improvements | 4,448 | |||
Total | 4,717 | |||
Accumulated Depreciation and Amortization | $ (403) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Sachem Center for Health & Rehabilitation | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 447 | |||
Buildings and Improvements | 1,357 | |||
Total | 1,804 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 447 | |||
Building and Improvements | 1,357 | |||
Total | 1,804 | |||
Accumulated Depreciation and Amortization | $ (151) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Eliot Center for Health & Rehabilitation | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 475 | |||
Buildings and Improvements | 1,491 | |||
Total | 1,966 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 475 | |||
Building and Improvements | 1,491 | |||
Total | 1,966 | |||
Accumulated Depreciation and Amortization | $ (143) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | The Reservoir Center for Health & Rehabilitation | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 942 | |||
Buildings and Improvements | 1,541 | |||
Total | 2,483 | |||
Cost Capitalized Subsequent to Acquisition | 8,697 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 942 | |||
Building and Improvements | 10,238 | |||
Total | 11,180 | |||
Accumulated Depreciation and Amortization | $ (547) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Newton Wellesley Center for Alzheimer’s Care | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,186 | |||
Buildings and Improvements | 13,917 | |||
Total | 15,103 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,186 | |||
Building and Improvements | 13,917 | |||
Total | 15,103 | |||
Accumulated Depreciation and Amortization | $ (894) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Colony Center for Health & Rehabilitation | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,727 | |||
Buildings and Improvements | 2,103 | |||
Total | 3,830 | |||
Cost Capitalized Subsequent to Acquisition | 19 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,727 | |||
Building and Improvements | 2,122 | |||
Total | 3,849 | |||
Accumulated Depreciation and Amortization | $ (188) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Westgate Center for Rehab & Alzheimer’s Care | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 229 | |||
Buildings and Improvements | 7,171 | |||
Total | 7,400 | |||
Cost Capitalized Subsequent to Acquisition | 10 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 229 | |||
Building and Improvements | 7,181 | |||
Total | 7,410 | |||
Accumulated Depreciation and Amortization | $ (501) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | New Orange Hills | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 4,163 | |||
Buildings and Improvements | 14,755 | |||
Total | 18,918 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 4,163 | |||
Building and Improvements | 14,755 | |||
Total | 18,918 | |||
Accumulated Depreciation and Amortization | $ (973) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Millbrook Healthcare & Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 548 | |||
Buildings and Improvements | 5,794 | |||
Total | 6,342 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 548 | |||
Building and Improvements | 5,794 | |||
Total | 6,342 | |||
Accumulated Depreciation and Amortization | $ (420) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Pleasant Valley Health & Rehab | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,118 | |||
Buildings and Improvements | 7,490 | |||
Total | 8,608 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,118 | |||
Building and Improvements | 7,490 | |||
Total | 8,608 | |||
Accumulated Depreciation and Amortization | $ (517) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Focused Care at Clarksville | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 279 | |||
Buildings and Improvements | 4,269 | |||
Total | 4,548 | |||
Cost Capitalized Subsequent to Acquisition | 100 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 279 | |||
Building and Improvements | 4,369 | |||
Total | 4,648 | |||
Accumulated Depreciation and Amortization | $ (338) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | McKinney Healthcare & Rehab | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,272 | |||
Buildings and Improvements | 6,047 | |||
Total | 7,319 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,272 | |||
Building and Improvements | 6,047 | |||
Total | 7,319 | |||
Accumulated Depreciation and Amortization | $ (448) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Hopkins | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 807 | |||
Buildings and Improvements | 4,668 | |||
Total | 5,475 | |||
Cost Capitalized Subsequent to Acquisition | 530 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 807 | |||
Building and Improvements | 5,198 | |||
Total | 6,005 | |||
Accumulated Depreciation and Amortization | $ (423) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Village Gardens | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,299 | |||
Buildings and Improvements | 1,247 | |||
Total | 2,546 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,299 | |||
Building and Improvements | 1,247 | |||
Total | 2,546 | |||
Accumulated Depreciation and Amortization | $ (142) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Florence | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 291 | |||
Buildings and Improvements | 3,778 | |||
Total | 4,069 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 291 | |||
Building and Improvements | 3,778 | |||
Total | 4,069 | |||
Accumulated Depreciation and Amortization | $ (293) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Golden Living Center - South Shore | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 166 | |||
Buildings and Improvements | 1,887 | |||
Total | 2,053 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 166 | |||
Building and Improvements | 1,887 | |||
Total | 2,053 | |||
Accumulated Depreciation and Amortization | $ (152) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Rochester East | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 645 | |||
Buildings and Improvements | 7,067 | |||
Total | 7,712 | |||
Cost Capitalized Subsequent to Acquisition | 178 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 645 | |||
Building and Improvements | 7,245 | |||
Total | 7,890 | |||
Accumulated Depreciation and Amortization | $ (489) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Wisconsin Dells | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,640 | |||
Buildings and Improvements | 1,599 | |||
Total | 3,239 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,640 | |||
Building and Improvements | 1,599 | |||
Total | 3,239 | |||
Accumulated Depreciation and Amortization | $ (167) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Sheboygan | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,038 | |||
Buildings and Improvements | 2,839 | |||
Total | 3,877 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,038 | |||
Building and Improvements | 2,839 | |||
Total | 3,877 | |||
Accumulated Depreciation and Amortization | $ (251) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Hendersonville | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,611 | |||
Buildings and Improvements | 3,503 | |||
Total | 5,114 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,611 | |||
Building and Improvements | 3,503 | |||
Total | 5,114 | |||
Accumulated Depreciation and Amortization | $ (285) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Focused Care at Corpus | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 366 | |||
Buildings and Improvements | 6,961 | |||
Total | 7,327 | |||
Cost Capitalized Subsequent to Acquisition | 91 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 51 | |||
Building and Improvements | 1,025 | |||
Total | 1,076 | |||
Accumulated Depreciation and Amortization | $ (152) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Focused Care at Burnet Bay | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 579 | |||
Buildings and Improvements | 22,317 | |||
Total | 22,896 | |||
Cost Capitalized Subsequent to Acquisition | 28 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 579 | |||
Building and Improvements | 22,345 | |||
Total | 22,924 | |||
Accumulated Depreciation and Amortization | $ (1,409) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Focused Care at Cedar Bayou | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 589 | |||
Buildings and Improvements | 20,475 | |||
Total | 21,064 | |||
Cost Capitalized Subsequent to Acquisition | 35 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 589 | |||
Building and Improvements | 20,510 | |||
Total | 21,099 | |||
Accumulated Depreciation and Amortization | $ (1,336) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Focused Care at Westwood | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,300 | |||
Buildings and Improvements | 13,353 | |||
Total | 14,653 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,300 | |||
Building and Improvements | 13,353 | |||
Total | 14,653 | |||
Accumulated Depreciation and Amortization | $ (906) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Focused Care at Pasadena | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,148 | |||
Buildings and Improvements | 23,579 | |||
Total | 24,727 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,148 | |||
Building and Improvements | 23,579 | |||
Total | 24,727 | |||
Accumulated Depreciation and Amortization | $ (1,515) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Focused Care at Webster | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 904 | |||
Buildings and Improvements | 10,315 | |||
Total | 11,219 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 904 | |||
Building and Improvements | 10,315 | |||
Total | 11,219 | |||
Accumulated Depreciation and Amortization | $ (716) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Focused Care at Summer Place | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 945 | |||
Buildings and Improvements | 20,424 | |||
Total | 21,369 | |||
Cost Capitalized Subsequent to Acquisition | 18 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 945 | |||
Building and Improvements | 20,442 | |||
Total | 21,387 | |||
Accumulated Depreciation and Amortization | $ (1,296) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Focused Care at Orange | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 711 | |||
Buildings and Improvements | 10,737 | |||
Total | 11,448 | |||
Cost Capitalized Subsequent to Acquisition | 16 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 711 | |||
Building and Improvements | 10,753 | |||
Total | 11,464 | |||
Accumulated Depreciation and Amortization | $ (711) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Cypress Glen | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,209 | |||
Buildings and Improvements | 13,444 | |||
Total | 14,653 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 90 | |||
Building and Improvements | 814 | |||
Total | 904 | |||
Accumulated Depreciation and Amortization | $ 0 | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Whitesburg Gardens | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 634 | |||
Buildings and Improvements | 28,071 | |||
Total | 28,705 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 634 | |||
Building and Improvements | 28,071 | |||
Total | 28,705 | |||
Accumulated Depreciation and Amortization | $ (1,735) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Terre Haute | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 644 | |||
Buildings and Improvements | 37,451 | |||
Total | 38,095 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 644 | |||
Building and Improvements | 37,451 | |||
Total | 38,095 | |||
Accumulated Depreciation and Amortization | $ (2,601) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Signature Healthcare at Larkin Springs | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 902 | |||
Buildings and Improvements | 3,850 | |||
Total | 4,752 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 902 | |||
Building and Improvements | 3,850 | |||
Total | 4,752 | |||
Accumulated Depreciation and Amortization | $ (325) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Savannah | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,235 | |||
Buildings and Improvements | 3,765 | |||
Total | 5,000 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,235 | |||
Building and Improvements | 3,765 | |||
Total | 5,000 | |||
Accumulated Depreciation and Amortization | $ (334) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Bluffton | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 254 | |||
Buildings and Improvements | 5,105 | |||
Total | 5,359 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 254 | |||
Building and Improvements | 5,105 | |||
Total | 5,359 | |||
Accumulated Depreciation and Amortization | $ (384) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Bowling Green | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 280 | |||
Buildings and Improvements | 13,975 | |||
Total | 14,255 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 280 | |||
Building and Improvements | 13,975 | |||
Total | 14,255 | |||
Accumulated Depreciation and Amortization | $ (955) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Oakview Nursing and Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,176 | |||
Buildings and Improvements | 7,012 | |||
Total | 8,188 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,176 | |||
Building and Improvements | 7,012 | |||
Total | 8,188 | |||
Accumulated Depreciation and Amortization | $ (509) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Fountain Circle Care and Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 554 | |||
Buildings and Improvements | 13,207 | |||
Total | 13,761 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 554 | |||
Building and Improvements | 13,207 | |||
Total | 13,761 | |||
Accumulated Depreciation and Amortization | $ (921) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Riverside Care & Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 613 | |||
Buildings and Improvements | 7,643 | |||
Total | 8,256 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 613 | |||
Building and Improvements | 7,643 | |||
Total | 8,256 | |||
Accumulated Depreciation and Amortization | $ (570) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Bremen | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 173 | |||
Buildings and Improvements | 7,393 | |||
Total | 7,566 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 173 | |||
Building and Improvements | 7,393 | |||
Total | 7,566 | |||
Accumulated Depreciation and Amortization | $ (504) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Muncie | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 374 | |||
Buildings and Improvements | 27,429 | |||
Total | 27,803 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 374 | |||
Building and Improvements | 27,429 | |||
Total | 27,803 | |||
Accumulated Depreciation and Amortization | $ (1,733) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Signature Healthcare at Parkwood | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 612 | |||
Buildings and Improvements | 11,755 | |||
Total | 12,367 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 612 | |||
Building and Improvements | 11,755 | |||
Total | 12,367 | |||
Accumulated Depreciation and Amortization | $ (787) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Signature Healthcare at Tower Road | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 364 | |||
Buildings and Improvements | 16,116 | |||
Total | 16,480 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 364 | |||
Building and Improvements | 16,116 | |||
Total | 16,480 | |||
Accumulated Depreciation and Amortization | $ (1,106) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Danville Centre for Health and Rehabilitation | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 790 | |||
Buildings and Improvements | 9,356 | |||
Total | 10,146 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 790 | |||
Building and Improvements | 9,356 | |||
Total | 10,146 | |||
Accumulated Depreciation and Amortization | $ (753) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Signature Healthcare at Hillcrest | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,048 | |||
Buildings and Improvements | 22,587 | |||
Total | 23,635 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,048 | |||
Building and Improvements | 22,587 | |||
Total | 23,635 | |||
Accumulated Depreciation and Amortization | $ (1,483) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Elizabethtown | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 239 | |||
Buildings and Improvements | 4,853 | |||
Total | 5,092 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 239 | |||
Building and Improvements | 4,853 | |||
Total | 5,092 | |||
Accumulated Depreciation and Amortization | $ (357) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Primacy | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,633 | |||
Buildings and Improvements | 9,371 | |||
Total | 11,004 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,633 | |||
Building and Improvements | 9,371 | |||
Total | 11,004 | |||
Accumulated Depreciation and Amortization | $ (674) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Harbour Pointe | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 705 | |||
Buildings and Improvements | 16,451 | |||
Total | 17,156 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 705 | |||
Building and Improvements | 16,451 | |||
Total | 17,156 | |||
Accumulated Depreciation and Amortization | $ (1,222) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Harrodsburg Health & Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,049 | |||
Buildings and Improvements | 9,851 | |||
Total | 10,900 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,049 | |||
Building and Improvements | 9,851 | |||
Total | 10,900 | |||
Accumulated Depreciation and Amortization | $ (754) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Putnam County | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,034 | |||
Buildings and Improvements | 15,555 | |||
Total | 16,589 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,034 | |||
Building and Improvements | 15,555 | |||
Total | 16,589 | |||
Accumulated Depreciation and Amortization | $ (1,045) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Fayette County | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 405 | |||
Buildings and Improvements | 4,839 | |||
Total | 5,244 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 405 | |||
Building and Improvements | 4,839 | |||
Total | 5,244 | |||
Accumulated Depreciation and Amortization | $ (385) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Warren | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 955 | |||
Buildings and Improvements | 5,260 | |||
Total | 6,215 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 955 | |||
Building and Improvements | 5,260 | |||
Total | 6,215 | |||
Accumulated Depreciation and Amortization | $ (489) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Galion | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 836 | |||
Buildings and Improvements | 668 | |||
Total | 1,504 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 836 | |||
Building and Improvements | 668 | |||
Total | 1,504 | |||
Accumulated Depreciation and Amortization | $ (86) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Roanoke Rapids | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 373 | |||
Buildings and Improvements | 10,308 | |||
Total | 10,681 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 373 | |||
Building and Improvements | 10,308 | |||
Total | 10,681 | |||
Accumulated Depreciation and Amortization | $ (761) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Kinston | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 954 | |||
Buildings and Improvements | 7,987 | |||
Total | 8,941 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 954 | |||
Building and Improvements | 7,987 | |||
Total | 8,941 | |||
Accumulated Depreciation and Amortization | $ (662) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Chapel Hill | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 809 | |||
Buildings and Improvements | 2,703 | |||
Total | 3,512 | |||
Cost Capitalized Subsequent to Acquisition | 302 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 809 | |||
Building and Improvements | 3,005 | |||
Total | 3,814 | |||
Accumulated Depreciation and Amortization | $ (321) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Chillicothe | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 260 | |||
Buildings and Improvements | 8,924 | |||
Total | 9,184 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 260 | |||
Building and Improvements | 8,924 | |||
Total | 9,184 | |||
Accumulated Depreciation and Amortization | $ (681) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Coshocton | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 374 | |||
Buildings and Improvements | 2,530 | |||
Total | 2,904 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 374 | |||
Building and Improvements | 2,530 | |||
Total | 2,904 | |||
Accumulated Depreciation and Amortization | $ (261) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | McCreary Health & Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 208 | |||
Buildings and Improvements | 7,665 | |||
Total | 7,873 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 208 | |||
Building and Improvements | 7,665 | |||
Total | 7,873 | |||
Accumulated Depreciation and Amortization | $ (532) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Colonial Health & Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 634 | |||
Buildings and Improvements | 4,094 | |||
Total | 4,728 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 634 | |||
Building and Improvements | 4,094 | |||
Total | 4,728 | |||
Accumulated Depreciation and Amortization | $ (332) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Glasgow Health & Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 83 | |||
Buildings and Improvements | 2,057 | |||
Total | 2,140 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 83 | |||
Building and Improvements | 2,057 | |||
Total | 2,140 | |||
Accumulated Depreciation and Amortization | $ (202) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Green Valley Health & Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 124 | |||
Buildings and Improvements | 1,693 | |||
Total | 1,817 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 124 | |||
Building and Improvements | 1,693 | |||
Total | 1,817 | |||
Accumulated Depreciation and Amortization | $ (174) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Hart County Health & Rehabilitation | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 208 | |||
Buildings and Improvements | 7,070 | |||
Total | 7,278 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 208 | |||
Building and Improvements | 7,070 | |||
Total | 7,278 | |||
Accumulated Depreciation and Amortization | $ (536) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Heritage Hall Health & Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 635 | |||
Buildings and Improvements | 9,861 | |||
Total | 10,496 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 635 | |||
Building and Improvements | 9,861 | |||
Total | 10,496 | |||
Accumulated Depreciation and Amortization | $ (694) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Jackson Manor | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 479 | |||
Buildings and Improvements | 6,078 | |||
Total | 6,557 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 479 | |||
Building and Improvements | 6,078 | |||
Total | 6,557 | |||
Accumulated Depreciation and Amortization | $ (419) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Jefferson Manor | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 3,528 | |||
Buildings and Improvements | 4,653 | |||
Total | 8,181 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 3,528 | |||
Building and Improvements | 4,653 | |||
Total | 8,181 | |||
Accumulated Depreciation and Amortization | $ (402) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Jefferson Place | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,207 | |||
Buildings and Improvements | 20,733 | |||
Total | 22,940 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,207 | |||
Building and Improvements | 20,733 | |||
Total | 22,940 | |||
Accumulated Depreciation and Amortization | $ (1,349) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Monroe Health & Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 333 | |||
Buildings and Improvements | 9,556 | |||
Total | 9,889 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 333 | |||
Building and Improvements | 9,556 | |||
Total | 9,889 | |||
Accumulated Depreciation and Amortization | $ (665) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | North Hardin Health & Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,815 | |||
Buildings and Improvements | 7,470 | |||
Total | 9,285 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,815 | |||
Building and Improvements | 7,470 | |||
Total | 9,285 | |||
Accumulated Depreciation and Amortization | $ (659) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Professional Care Health & Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 312 | |||
Buildings and Improvements | 8,189 | |||
Total | 8,501 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 312 | |||
Building and Improvements | 8,189 | |||
Total | 8,501 | |||
Accumulated Depreciation and Amortization | $ (582) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Rockford Health & Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 427 | |||
Buildings and Improvements | 6,003 | |||
Total | 6,430 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 427 | |||
Building and Improvements | 6,003 | |||
Total | 6,430 | |||
Accumulated Depreciation and Amortization | $ (455) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Summerfield Health & Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,134 | |||
Buildings and Improvements | 9,166 | |||
Total | 10,300 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,134 | |||
Building and Improvements | 9,166 | |||
Total | 10,300 | |||
Accumulated Depreciation and Amortization | $ (712) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Tanbark Senior Living | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,558 | |||
Buildings and Improvements | 4,311 | |||
Total | 6,869 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,558 | |||
Building and Improvements | 4,311 | |||
Total | 6,869 | |||
Accumulated Depreciation and Amortization | $ (365) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Summit Manor Health & Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 114 | |||
Buildings and Improvements | 11,141 | |||
Total | 11,255 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 114 | |||
Building and Improvements | 11,141 | |||
Total | 11,255 | |||
Accumulated Depreciation and Amortization | $ (759) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Belle View Estates Rehabilitation and Care Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 206 | |||
Buildings and Improvements | 3,179 | |||
Total | 3,385 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 206 | |||
Building and Improvements | 3,179 | |||
Total | 3,385 | |||
Accumulated Depreciation and Amortization | $ (259) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | River Chase Rehabilitation and Care Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 508 | |||
Buildings and Improvements | 0 | |||
Total | 508 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 508 | |||
Building and Improvements | 0 | |||
Total | 508 | |||
Accumulated Depreciation and Amortization | $ 0 | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Heartland Rehabilitation and Care Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,336 | |||
Buildings and Improvements | 7,386 | |||
Total | 8,722 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,336 | |||
Building and Improvements | 7,386 | |||
Total | 8,722 | |||
Accumulated Depreciation and Amortization | $ (550) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | River Ridge Rehabilitation and Care Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 227 | |||
Buildings and Improvements | 4,007 | |||
Total | 4,234 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 227 | |||
Building and Improvements | 4,007 | |||
Total | 4,234 | |||
Accumulated Depreciation and Amortization | $ (301) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Brookridge Cove Rehabilitation and Care Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 412 | |||
Buildings and Improvements | 2,642 | |||
Total | 3,054 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 412 | |||
Building and Improvements | 2,642 | |||
Total | 3,054 | |||
Accumulated Depreciation and Amortization | $ (244) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Southern Trace Rehabilitation and Care Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 819 | |||
Buildings and Improvements | 8,938 | |||
Total | 9,757 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 819 | |||
Building and Improvements | 8,938 | |||
Total | 9,757 | |||
Accumulated Depreciation and Amortization | $ (593) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Lake Village Rehabilitation and Care Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 507 | |||
Buildings and Improvements | 4,838 | |||
Total | 5,345 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 507 | |||
Building and Improvements | 4,838 | |||
Total | 5,345 | |||
Accumulated Depreciation and Amortization | $ (369) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Savannah Specialty Care Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,194 | |||
Buildings and Improvements | 11,711 | |||
Total | 13,905 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,194 | |||
Building and Improvements | 11,711 | |||
Total | 13,905 | |||
Accumulated Depreciation and Amortization | $ (766) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Pettigrew Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 470 | |||
Buildings and Improvements | 9,633 | |||
Total | 10,103 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 470 | |||
Building and Improvements | 9,633 | |||
Total | 10,103 | |||
Accumulated Depreciation and Amortization | $ (624) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Sunnybrook Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,155 | |||
Buildings and Improvements | 11,749 | |||
Total | 12,904 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,155 | |||
Building and Improvements | 11,749 | |||
Total | 12,904 | |||
Accumulated Depreciation and Amortization | $ (780) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Raleigh Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 926 | |||
Buildings and Improvements | 17,649 | |||
Total | 18,575 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 926 | |||
Building and Improvements | 17,649 | |||
Total | 18,575 | |||
Accumulated Depreciation and Amortization | $ (1,151) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Cypress Pointe Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 611 | |||
Buildings and Improvements | 5,051 | |||
Total | 5,662 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 611 | |||
Building and Improvements | 5,051 | |||
Total | 5,662 | |||
Accumulated Depreciation and Amortization | $ (374) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Silas Creek Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 879 | |||
Buildings and Improvements | 3,283 | |||
Total | 4,162 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 879 | |||
Building and Improvements | 3,283 | |||
Total | 4,162 | |||
Accumulated Depreciation and Amortization | $ (277) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Lincolnton Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 9,967 | |||
Total | 9,967 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 0 | |||
Building and Improvements | 9,967 | |||
Total | 9,967 | |||
Accumulated Depreciation and Amortization | $ (664) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Rehabilitation and Nursing Center of Monroe | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 166 | |||
Buildings and Improvements | 5,906 | |||
Total | 6,072 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 166 | |||
Building and Improvements | 5,906 | |||
Total | 6,072 | |||
Accumulated Depreciation and Amortization | $ (438) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Guardian Care of Zebulon | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 594 | |||
Buildings and Improvements | 8,559 | |||
Total | 9,153 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 594 | |||
Building and Improvements | 8,559 | |||
Total | 9,153 | |||
Accumulated Depreciation and Amortization | $ (548) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Guardian Care of Rocky Mount | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 18,314 | |||
Total | 18,314 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 0 | |||
Building and Improvements | 18,314 | |||
Total | 18,314 | |||
Accumulated Depreciation and Amortization | $ (1,151) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | San Pedro Manor | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 671 | |||
Buildings and Improvements | 2,504 | |||
Total | 3,175 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 671 | |||
Building and Improvements | 2,504 | |||
Total | 3,175 | |||
Accumulated Depreciation and Amortization | $ (211) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Park Manor Health Care & Rehabilitation | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 942 | |||
Buildings and Improvements | 6,033 | |||
Total | 6,975 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 942 | |||
Building and Improvements | 6,033 | |||
Total | 6,975 | |||
Accumulated Depreciation and Amortization | $ (440) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Avalon Place - Trinity | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 363 | |||
Buildings and Improvements | 3,852 | |||
Total | 4,215 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 363 | |||
Building and Improvements | 3,852 | |||
Total | 4,215 | |||
Accumulated Depreciation and Amortization | $ (303) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Avalon Place - Kirbyville | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 208 | |||
Buildings and Improvements | 5,809 | |||
Total | 6,017 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 208 | |||
Building and Improvements | 5,809 | |||
Total | 6,017 | |||
Accumulated Depreciation and Amortization | $ (437) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Heritage House of Marshall | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 732 | |||
Buildings and Improvements | 4,288 | |||
Total | 5,020 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 732 | |||
Building and Improvements | 4,288 | |||
Total | 5,020 | |||
Accumulated Depreciation and Amortization | $ (332) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Autumn Woods Residential Health Care Facility | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,052 | |||
Buildings and Improvements | 25,539 | |||
Total | 27,591 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,052 | |||
Building and Improvements | 25,539 | |||
Total | 27,591 | |||
Accumulated Depreciation and Amortization | $ (1,845) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Autumn View Health Care Facility | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,026 | |||
Buildings and Improvements | 54,086 | |||
Total | 55,112 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,026 | |||
Building and Improvements | 54,086 | |||
Total | 55,112 | |||
Accumulated Depreciation and Amortization | $ (3,416) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Brookhaven Health Care Facility | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,181 | |||
Buildings and Improvements | 30,373 | |||
Total | 32,554 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,181 | |||
Building and Improvements | 30,373 | |||
Total | 32,554 | |||
Accumulated Depreciation and Amortization | $ (2,018) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Harris Hill Nursing Facility | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,122 | |||
Buildings and Improvements | 46,413 | |||
Total | 47,535 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,122 | |||
Building and Improvements | 46,413 | |||
Total | 47,535 | |||
Accumulated Depreciation and Amortization | $ (2,879) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Garden Gate Health Care Facility | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,164 | |||
Buildings and Improvements | 29,905 | |||
Total | 31,069 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,164 | |||
Building and Improvements | 29,905 | |||
Total | 31,069 | |||
Accumulated Depreciation and Amortization | $ (1,966) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Northgate Health Care Facility | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 830 | |||
Buildings and Improvements | 29,488 | |||
Total | 30,318 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 830 | |||
Building and Improvements | 29,488 | |||
Total | 30,318 | |||
Accumulated Depreciation and Amortization | $ (1,937) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Seneca Health Care Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,325 | |||
Buildings and Improvements | 26,839 | |||
Total | 28,164 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,325 | |||
Building and Improvements | 26,839 | |||
Total | 28,164 | |||
Accumulated Depreciation and Amortization | $ (1,731) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Blueberry Hill Rehab and Healthcare Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,410 | |||
Buildings and Improvements | 13,588 | |||
Total | 15,998 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,410 | |||
Building and Improvements | 13,588 | |||
Total | 15,998 | |||
Accumulated Depreciation and Amortization | $ (1,179) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | River Terrace Rehabilitation and Healthcare Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 343 | |||
Buildings and Improvements | 7,733 | |||
Total | 8,076 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 343 | |||
Building and Improvements | 7,733 | |||
Total | 8,076 | |||
Accumulated Depreciation and Amortization | $ (518) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | The Crossings West Campus | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 356 | |||
Buildings and Improvements | 152 | |||
Total | 508 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 356 | |||
Building and Improvements | 152 | |||
Total | 508 | |||
Accumulated Depreciation and Amortization | $ (23) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | The Crossings East Campus | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 505 | |||
Buildings and Improvements | 2,248 | |||
Total | 2,753 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 505 | |||
Building and Improvements | 2,248 | |||
Total | 2,753 | |||
Accumulated Depreciation and Amortization | $ (257) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Parkway Pavilion Healthcare | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 437 | |||
Buildings and Improvements | 16,461 | |||
Total | 16,898 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 437 | |||
Building and Improvements | 16,461 | |||
Total | 16,898 | |||
Accumulated Depreciation and Amortization | $ (1,127) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Quincy Health & Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 894 | |||
Buildings and Improvements | 904 | |||
Total | 1,798 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 894 | |||
Building and Improvements | 904 | |||
Total | 1,798 | |||
Accumulated Depreciation and Amortization | $ (111) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Den-Mar Health & Rehabilitation Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 1,765 | |||
Total | 1,765 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 0 | |||
Building and Improvements | 1,765 | |||
Total | 1,765 | |||
Accumulated Depreciation and Amortization | $ (155) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Firesteel Healthcare Community | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 621 | |||
Buildings and Improvements | 14,059 | |||
Total | 14,680 | |||
Cost Capitalized Subsequent to Acquisition | 8,716 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 621 | |||
Building and Improvements | 22,775 | |||
Total | 23,396 | |||
Accumulated Depreciation and Amortization | $ (2,280) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Fountain Springs Healthcare Community | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,134 | |||
Buildings and Improvements | 13,109 | |||
Total | 14,243 | |||
Cost Capitalized Subsequent to Acquisition | 169 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,134 | |||
Building and Improvements | 13,278 | |||
Total | 14,412 | |||
Accumulated Depreciation and Amortization | $ (857) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Palisade Healthcare Community | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 362 | |||
Buildings and Improvements | 2,548 | |||
Total | 2,910 | |||
Cost Capitalized Subsequent to Acquisition | 230 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 362 | |||
Building and Improvements | 2,778 | |||
Total | 3,140 | |||
Accumulated Depreciation and Amortization | $ (216) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Shepherd of the Valley Healthcare Community | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 803 | |||
Buildings and Improvements | 19,210 | |||
Total | 20,013 | |||
Cost Capitalized Subsequent to Acquisition | 573 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 803 | |||
Building and Improvements | 19,783 | |||
Total | 20,586 | |||
Accumulated Depreciation and Amortization | $ (1,305) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Wheatcrest Hills Healthcare Community | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 679 | |||
Buildings and Improvements | 3,216 | |||
Total | 3,895 | |||
Cost Capitalized Subsequent to Acquisition | 269 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 679 | |||
Building and Improvements | 3,485 | |||
Total | 4,164 | |||
Accumulated Depreciation and Amortization | $ (261) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Riverview Healthcare Community & Independent Living | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 240 | |||
Buildings and Improvements | 6,327 | |||
Total | 6,567 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 240 | |||
Building and Improvements | 6,327 | |||
Total | 6,567 | |||
Accumulated Depreciation and Amortization | $ (442) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Prairie View Healthcare Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 383 | |||
Buildings and Improvements | 2,041 | |||
Total | 2,424 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 383 | |||
Building and Improvements | 2,041 | |||
Total | 2,424 | |||
Accumulated Depreciation and Amortization | $ (167) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Wingate at Dutchess (Fishkill) | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 964 | |||
Buildings and Improvements | 30,107 | |||
Total | 31,071 | |||
Cost Capitalized Subsequent to Acquisition | 261 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 964 | |||
Building and Improvements | 30,368 | |||
Total | 31,332 | |||
Accumulated Depreciation and Amortization | $ (2,001) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Wingate at Ulster (Highland) | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 4,371 | |||
Buildings and Improvements | 11,473 | |||
Total | 15,844 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 4,371 | |||
Building and Improvements | 11,473 | |||
Total | 15,844 | |||
Accumulated Depreciation and Amortization | $ (813) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Wingate at Beacon | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 25,400 | |||
Total | 25,400 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 0 | |||
Building and Improvements | 25,400 | |||
Total | 25,400 | |||
Accumulated Depreciation and Amortization | $ (1,760) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Wingate at Springfield | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 817 | |||
Buildings and Improvements | 11,357 | |||
Total | 12,174 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 817 | |||
Building and Improvements | 11,357 | |||
Total | 12,174 | |||
Accumulated Depreciation and Amortization | $ (763) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Wingate at Andover | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,123 | |||
Buildings and Improvements | 5,383 | |||
Total | 7,506 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,123 | |||
Building and Improvements | 5,383 | |||
Total | 7,506 | |||
Accumulated Depreciation and Amortization | $ (414) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Wingate at Reading | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,534 | |||
Buildings and Improvements | 5,221 | |||
Total | 6,755 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,534 | |||
Building and Improvements | 5,221 | |||
Total | 6,755 | |||
Accumulated Depreciation and Amortization | $ (412) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Wingate at Sudbury | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,017 | |||
Buildings and Improvements | 3,458 | |||
Total | 5,475 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,017 | |||
Building and Improvements | 3,458 | |||
Total | 5,475 | |||
Accumulated Depreciation and Amortization | $ (315) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Wingate at Belvidere (Lowell) | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,335 | |||
Buildings and Improvements | 9,019 | |||
Total | 10,354 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,335 | |||
Building and Improvements | 9,019 | |||
Total | 10,354 | |||
Accumulated Depreciation and Amortization | $ (654) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Wingate at Worcester | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 945 | |||
Buildings and Improvements | 8,770 | |||
Total | 9,715 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 945 | |||
Building and Improvements | 8,770 | |||
Total | 9,715 | |||
Accumulated Depreciation and Amortization | $ (624) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Wingate at West Springfield | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,022 | |||
Buildings and Improvements | 7,345 | |||
Total | 9,367 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,022 | |||
Building and Improvements | 7,345 | |||
Total | 9,367 | |||
Accumulated Depreciation and Amortization | $ (573) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Wingate at East Longmeadow | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,968 | |||
Buildings and Improvements | 8,957 | |||
Total | 11,925 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,968 | |||
Building and Improvements | 8,957 | |||
Total | 11,925 | |||
Accumulated Depreciation and Amortization | $ (704) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Broadway by the Sea | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,939 | |||
Buildings and Improvements | 11,782 | |||
Total | 14,721 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,939 | |||
Building and Improvements | 11,690 | |||
Total | 14,629 | |||
Accumulated Depreciation and Amortization | $ (809) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Coventry Court Health Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,044 | |||
Buildings and Improvements | 14,167 | |||
Total | 16,211 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,044 | |||
Building and Improvements | 14,167 | |||
Total | 16,211 | |||
Accumulated Depreciation and Amortization | $ (952) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Fairfield Post-Acute Rehab | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 586 | |||
Buildings and Improvements | 23,582 | |||
Total | 24,168 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 586 | |||
Building and Improvements | 23,582 | |||
Total | 24,168 | |||
Accumulated Depreciation and Amortization | $ (1,474) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Garden View Post-Acute Rehab | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,270 | |||
Buildings and Improvements | 17,063 | |||
Total | 19,333 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,270 | |||
Building and Improvements | 17,063 | |||
Total | 19,333 | |||
Accumulated Depreciation and Amortization | $ (1,125) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Grand Terrace Health Care Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 432 | |||
Buildings and Improvements | 9,382 | |||
Total | 9,814 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 432 | |||
Building and Improvements | 9,382 | |||
Total | 9,814 | |||
Accumulated Depreciation and Amortization | $ (624) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Pacifica Nursing & Rehab Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,510 | |||
Buildings and Improvements | 27,397 | |||
Total | 28,907 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,510 | |||
Building and Improvements | 27,397 | |||
Total | 28,907 | |||
Accumulated Depreciation and Amortization | $ (1,689) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Burien Nursing & Rehab Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 823 | |||
Buildings and Improvements | 17,431 | |||
Total | 18,254 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 823 | |||
Building and Improvements | 17,431 | |||
Total | 18,254 | |||
Accumulated Depreciation and Amortization | $ (1,132) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Park West Care Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 4,802 | |||
Buildings and Improvements | 7,927 | |||
Total | 12,729 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 4,802 | |||
Building and Improvements | 7,927 | |||
Total | 12,729 | |||
Accumulated Depreciation and Amortization | $ (577) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Beachside Nursing Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,312 | |||
Buildings and Improvements | 9,885 | |||
Total | 12,197 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,312 | |||
Building and Improvements | 9,885 | |||
Total | 12,197 | |||
Accumulated Depreciation and Amortization | $ (654) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Chatsworth Park Health Care | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 7,841 | |||
Buildings and Improvements | 16,916 | |||
Total | 24,757 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 7,841 | |||
Building and Improvements | 16,916 | |||
Total | 24,757 | |||
Accumulated Depreciation and Amortization | $ (1,166) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Cottonwood Post-Acute Rehab | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 504 | |||
Buildings and Improvements | 7,369 | |||
Total | 7,873 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 504 | |||
Building and Improvements | 7,369 | |||
Total | 7,873 | |||
Accumulated Depreciation and Amortization | $ (513) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Danville Post-Acute Rehab | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,491 | |||
Buildings and Improvements | 17,157 | |||
Total | 18,648 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,491 | |||
Building and Improvements | 17,157 | |||
Total | 18,648 | |||
Accumulated Depreciation and Amortization | $ (1,107) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Lake Balboa Care Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,456 | |||
Buildings and Improvements | 16,462 | |||
Total | 18,918 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,456 | |||
Building and Improvements | 16,462 | |||
Total | 18,918 | |||
Accumulated Depreciation and Amortization | $ (1,023) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Lomita Post-Acute Care Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,743 | |||
Buildings and Improvements | 14,734 | |||
Total | 17,477 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,743 | |||
Building and Improvements | 14,734 | |||
Total | 17,477 | |||
Accumulated Depreciation and Amortization | $ (995) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | University Post-Acute Rehab | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,846 | |||
Buildings and Improvements | 17,962 | |||
Total | 20,808 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,846 | |||
Building and Improvements | 17,962 | |||
Total | 20,808 | |||
Accumulated Depreciation and Amortization | $ (1,144) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Issaquah Nursing & Rehab Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 10,125 | |||
Buildings and Improvements | 7,771 | |||
Total | 17,896 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 10,125 | |||
Building and Improvements | 7,771 | |||
Total | 17,896 | |||
Accumulated Depreciation and Amortization | $ (595) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Alamitos-Belmont Rehab Hospital | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 3,157 | |||
Buildings and Improvements | 22,067 | |||
Total | 25,224 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 3,157 | |||
Building and Improvements | 22,067 | |||
Total | 25,224 | |||
Accumulated Depreciation and Amortization | $ (1,440) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Edgewater Skilled Nursing Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,857 | |||
Buildings and Improvements | 5,878 | |||
Total | 8,735 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,857 | |||
Building and Improvements | 5,878 | |||
Total | 8,735 | |||
Accumulated Depreciation and Amortization | $ (414) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Fairmont Rehabilitation Hospital | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 812 | |||
Buildings and Improvements | 21,059 | |||
Total | 21,871 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 812 | |||
Building and Improvements | 21,059 | |||
Total | 21,871 | |||
Accumulated Depreciation and Amortization | $ (1,279) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Palm Terrace Care Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,717 | |||
Buildings and Improvements | 13,806 | |||
Total | 15,523 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,717 | |||
Building and Improvements | 13,806 | |||
Total | 15,523 | |||
Accumulated Depreciation and Amortization | $ (981) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Woodland Nursing & Rehab | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 278 | |||
Buildings and Improvements | 16,729 | |||
Total | 17,007 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 278 | |||
Building and Improvements | 16,729 | |||
Total | 17,007 | |||
Accumulated Depreciation and Amortization | $ (1,076) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Park Manor at Bee Cave | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,107 | |||
Buildings and Improvements | 10,413 | |||
Total | 12,520 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,107 | |||
Building and Improvements | 10,413 | |||
Total | 12,520 | |||
Accumulated Depreciation and Amortization | $ (773) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Ramona | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,058 | |||
Buildings and Improvements | 19,671 | |||
Total | 21,729 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,058 | |||
Building and Improvements | 19,671 | |||
Total | 21,729 | |||
Accumulated Depreciation and Amortization | $ (1,138) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Skilled Nursing/Transitional Care Facilities | Park Ridge | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 8,861 | |||
Buildings and Improvements | 11,478 | |||
Total | 20,339 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 8,861 | |||
Building and Improvements | 11,478 | |||
Total | 20,339 | |||
Accumulated Depreciation and Amortization | $ (770) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 28,441 | |||
Initial Cost to Company | ||||
Land | 56,002 | |||
Buildings and Improvements | 569,489 | |||
Total | 625,491 | |||
Cost Capitalized Subsequent to Acquisition | 19,290 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 56,171 | |||
Building and Improvements | 574,517 | |||
Total | 630,688 | |||
Accumulated Depreciation and Amortization | (72,278) | |||
Senior Housing - Leased | Forest Hills (ALF) | ||||
Initial Cost to Company | ||||
Land | 1,803 | |||
Buildings and Improvements | 3,927 | |||
Total | 5,730 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,803 | |||
Building and Improvements | 3,323 | |||
Total | 5,126 | |||
Accumulated Depreciation and Amortization | $ (1,571) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 30 years | |||
Senior Housing - Leased | Langdon Place of Exeter | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 2,759 | |||
Initial Cost to Company | ||||
Land | 571 | |||
Buildings and Improvements | 7,183 | |||
Total | 7,754 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 571 | |||
Building and Improvements | 6,129 | |||
Total | 6,700 | |||
Accumulated Depreciation and Amortization | $ (2,408) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 43 years | |||
Senior Housing - Leased | Langdon Place of Nashua | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 4,999 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 5,654 | |||
Total | 5,654 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 0 | |||
Building and Improvements | 4,635 | |||
Total | 4,635 | |||
Accumulated Depreciation and Amortization | $ (1,549) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Langdon Place of Keene | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 4,126 | |||
Initial Cost to Company | ||||
Land | 304 | |||
Buildings and Improvements | 3,992 | |||
Total | 4,296 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 304 | |||
Building and Improvements | 3,449 | |||
Total | 3,753 | |||
Accumulated Depreciation and Amortization | $ (1,520) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 46 years | |||
Senior Housing - Leased | Langdon Place of Dover | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 3,426 | |||
Initial Cost to Company | ||||
Land | 801 | |||
Buildings and Improvements | 10,036 | |||
Total | 10,837 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 801 | |||
Building and Improvements | 8,934 | |||
Total | 9,735 | |||
Accumulated Depreciation and Amortization | $ (3,462) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 42 years | |||
Senior Housing - Leased | Age-Well Senior Living | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 256 | |||
Buildings and Improvements | 2,262 | |||
Total | 2,518 | |||
Cost Capitalized Subsequent to Acquisition | 1,032 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 256 | |||
Building and Improvements | 3,294 | |||
Total | 3,550 | |||
Accumulated Depreciation and Amortization | $ (1,569) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | New Dawn Aurora | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,874 | |||
Buildings and Improvements | 12,829 | |||
Total | 15,703 | |||
Cost Capitalized Subsequent to Acquisition | 6 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,874 | |||
Building and Improvements | 12,835 | |||
Total | 15,709 | |||
Accumulated Depreciation and Amortization | $ (2,521) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Gulf Pointe Village | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 789 | |||
Buildings and Improvements | 607 | |||
Total | 1,396 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 789 | |||
Building and Improvements | 607 | |||
Total | 1,396 | |||
Accumulated Depreciation and Amortization | $ (210) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Aspen Ridge Retirement Village | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,024 | |||
Buildings and Improvements | 5,467 | |||
Total | 7,491 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,024 | |||
Building and Improvements | 5,467 | |||
Total | 7,491 | |||
Accumulated Depreciation and Amortization | $ (1,375) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Green Acres of Cadillac | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 217 | |||
Buildings and Improvements | 3,000 | |||
Total | 3,217 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 217 | |||
Building and Improvements | 3,000 | |||
Total | 3,217 | |||
Accumulated Depreciation and Amortization | $ (638) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Green Acres of Greenville | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 684 | |||
Buildings and Improvements | 5,832 | |||
Total | 6,516 | |||
Cost Capitalized Subsequent to Acquisition | 249 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 684 | |||
Building and Improvements | 6,081 | |||
Total | 6,765 | |||
Accumulated Depreciation and Amortization | $ (1,281) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Green Acres of Manistee | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 952 | |||
Buildings and Improvements | 2,578 | |||
Total | 3,530 | |||
Cost Capitalized Subsequent to Acquisition | 2,547 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 952 | |||
Building and Improvements | 5,125 | |||
Total | 6,077 | |||
Accumulated Depreciation and Amortization | $ (963) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Green Acres of Mason | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 198 | |||
Buildings and Improvements | 4,131 | |||
Total | 4,329 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 198 | |||
Building and Improvements | 4,131 | |||
Total | 4,329 | |||
Accumulated Depreciation and Amortization | $ (916) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Nottingham Place | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 744 | |||
Buildings and Improvements | 1,745 | |||
Total | 2,489 | |||
Cost Capitalized Subsequent to Acquisition | 400 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 744 | |||
Building and Improvements | 2,145 | |||
Total | 2,889 | |||
Accumulated Depreciation and Amortization | $ (491) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Royal View | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 307 | |||
Buildings and Improvements | 2,477 | |||
Total | 2,784 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 307 | |||
Building and Improvements | 2,477 | |||
Total | 2,784 | |||
Accumulated Depreciation and Amortization | $ (601) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Tawas Village | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 258 | |||
Buildings and Improvements | 3,713 | |||
Total | 3,971 | |||
Cost Capitalized Subsequent to Acquisition | 45 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 258 | |||
Building and Improvements | 3,758 | |||
Total | 4,016 | |||
Accumulated Depreciation and Amortization | $ (1,074) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Turning Brook | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 546 | |||
Buildings and Improvements | 13,139 | |||
Total | 13,685 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 546 | |||
Building and Improvements | 13,139 | |||
Total | 13,685 | |||
Accumulated Depreciation and Amortization | $ (2,503) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Greenfield of Woodstock | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 597 | |||
Buildings and Improvements | 5,465 | |||
Total | 6,062 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 597 | |||
Building and Improvements | 5,465 | |||
Total | 6,062 | |||
Accumulated Depreciation and Amortization | $ (1,034) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Nye Square | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 504 | |||
Buildings and Improvements | 17,670 | |||
Total | 18,174 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 504 | |||
Building and Improvements | 17,670 | |||
Total | 18,174 | |||
Accumulated Depreciation and Amortization | $ (2,995) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | The Meadows | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 217 | |||
Buildings and Improvements | 9,906 | |||
Total | 10,123 | |||
Cost Capitalized Subsequent to Acquisition | 1,000 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 217 | |||
Building and Improvements | 10,906 | |||
Total | 11,123 | |||
Accumulated Depreciation and Amortization | $ (1,812) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Park Place | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 13,131 | |||
Initial Cost to Company | ||||
Land | 2,300 | |||
Buildings and Improvements | 21,115 | |||
Total | 23,415 | |||
Cost Capitalized Subsequent to Acquisition | 2,747 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,300 | |||
Building and Improvements | 23,861 | |||
Total | 26,161 | |||
Accumulated Depreciation and Amortization | $ (4,441) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Avalon MC - Boat Club | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 359 | |||
Buildings and Improvements | 8,126 | |||
Total | 8,485 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 359 | |||
Building and Improvements | 8,126 | |||
Total | 8,485 | |||
Accumulated Depreciation and Amortization | $ (1,224) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Avalon MC - 7200 | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 123 | |||
Buildings and Improvements | 4,914 | |||
Total | 5,037 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 123 | |||
Building and Improvements | 4,914 | |||
Total | 5,037 | |||
Accumulated Depreciation and Amortization | $ (742) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Avalon MC - 7204 | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 215 | |||
Buildings and Improvements | 4,821 | |||
Total | 5,036 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 215 | |||
Building and Improvements | 4,822 | |||
Total | 5,037 | |||
Accumulated Depreciation and Amortization | $ (732) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Avalon MC - 7140 | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 143 | |||
Buildings and Improvements | 6,653 | |||
Total | 6,796 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 143 | |||
Building and Improvements | 6,653 | |||
Total | 6,796 | |||
Accumulated Depreciation and Amortization | $ (980) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Delaney Creek Lodge | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,283 | |||
Buildings and Improvements | 8,424 | |||
Total | 9,707 | |||
Cost Capitalized Subsequent to Acquisition | 483 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,283 | |||
Building and Improvements | 8,907 | |||
Total | 10,190 | |||
Accumulated Depreciation and Amortization | $ (1,459) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Nature Coast Lodge | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,031 | |||
Buildings and Improvements | 5,577 | |||
Total | 6,608 | |||
Cost Capitalized Subsequent to Acquisition | 452 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,031 | |||
Building and Improvements | 6,030 | |||
Total | 7,061 | |||
Accumulated Depreciation and Amortization | $ (1,134) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | West Winds | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,688 | |||
Buildings and Improvements | 9,098 | |||
Total | 10,786 | |||
Cost Capitalized Subsequent to Acquisition | 360 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,688 | |||
Building and Improvements | 9,459 | |||
Total | 11,147 | |||
Accumulated Depreciation and Amortization | $ (1,683) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Tudor Heights | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 561 | |||
Buildings and Improvements | 4,865 | |||
Total | 5,426 | |||
Cost Capitalized Subsequent to Acquisition | 1,255 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 561 | |||
Building and Improvements | 6,121 | |||
Total | 6,682 | |||
Accumulated Depreciation and Amortization | $ (1,178) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Life’s Journey of Mattoon | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 812 | |||
Buildings and Improvements | 6,796 | |||
Total | 7,608 | |||
Cost Capitalized Subsequent to Acquisition | 63 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 264 | |||
Building and Improvements | 1,921 | |||
Total | 2,185 | |||
Accumulated Depreciation and Amortization | $ (59) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Life’s Journey of Pana | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 154 | |||
Buildings and Improvements | 2,098 | |||
Total | 2,252 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 46 | |||
Building and Improvements | 524 | |||
Total | 570 | |||
Accumulated Depreciation and Amortization | $ (20) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Life’s Journey of Taylorville | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 267 | |||
Buildings and Improvements | 5,201 | |||
Total | 5,468 | |||
Cost Capitalized Subsequent to Acquisition | 50 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 106 | |||
Building and Improvements | 1,794 | |||
Total | 1,900 | |||
Accumulated Depreciation and Amortization | $ (45) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Life’s Journey of Paris | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 132 | |||
Buildings and Improvements | 3,090 | |||
Total | 3,222 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 49 | |||
Building and Improvements | 996 | |||
Total | 1,045 | |||
Accumulated Depreciation and Amortization | $ (23) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Ashley Pointe | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,559 | |||
Buildings and Improvements | 9,059 | |||
Total | 10,618 | |||
Cost Capitalized Subsequent to Acquisition | 68 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,559 | |||
Building and Improvements | 9,127 | |||
Total | 10,686 | |||
Accumulated Depreciation and Amortization | $ (1,186) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Farmington Square Eugene | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,428 | |||
Buildings and Improvements | 16,138 | |||
Total | 17,566 | |||
Cost Capitalized Subsequent to Acquisition | 101 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,428 | |||
Building and Improvements | 16,239 | |||
Total | 17,667 | |||
Accumulated Depreciation and Amortization | $ (1,870) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Farmington Square Tualatin | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 527 | |||
Buildings and Improvements | 14,659 | |||
Total | 15,186 | |||
Cost Capitalized Subsequent to Acquisition | 101 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 527 | |||
Building and Improvements | 14,760 | |||
Total | 15,287 | |||
Accumulated Depreciation and Amortization | $ (1,709) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Farmington Square of Salem | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,074 | |||
Buildings and Improvements | 19,421 | |||
Total | 20,495 | |||
Cost Capitalized Subsequent to Acquisition | 408 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,074 | |||
Building and Improvements | 19,829 | |||
Total | 20,903 | |||
Accumulated Depreciation and Amortization | $ (2,345) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Colorado Springs | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,210 | |||
Buildings and Improvements | 9,490 | |||
Total | 10,700 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,210 | |||
Building and Improvements | 9,490 | |||
Total | 10,700 | |||
Accumulated Depreciation and Amortization | $ (1,175) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Sun City West | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 930 | |||
Buildings and Improvements | 9,170 | |||
Total | 10,100 | |||
Cost Capitalized Subsequent to Acquisition | 248 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 930 | |||
Building and Improvements | 9,418 | |||
Total | 10,348 | |||
Accumulated Depreciation and Amortization | $ (1,005) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Poet’s Walk at Fredericksburg | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,379 | |||
Buildings and Improvements | 21,209 | |||
Total | 22,588 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,379 | |||
Building and Improvements | 21,209 | |||
Total | 22,588 | |||
Accumulated Depreciation and Amortization | $ (2,167) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Poet’s Walk at Chandler Oaks | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 679 | |||
Buildings and Improvements | 13,642 | |||
Total | 14,321 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 679 | |||
Building and Improvements | 13,642 | |||
Total | 14,321 | |||
Accumulated Depreciation and Amortization | $ (1,398) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | The Montecito Santa Fe | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,536 | |||
Buildings and Improvements | 19,441 | |||
Total | 21,977 | |||
Cost Capitalized Subsequent to Acquisition | 1,892 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,807 | |||
Building and Improvements | 23,468 | |||
Total | 26,275 | |||
Accumulated Depreciation and Amortization | $ (1,996) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | The Golden Crest | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 292 | |||
Buildings and Improvements | 6,889 | |||
Total | 7,181 | |||
Cost Capitalized Subsequent to Acquisition | 97 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 292 | |||
Building and Improvements | 6,996 | |||
Total | 7,288 | |||
Accumulated Depreciation and Amortization | $ (736) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Poet’s Walk at Henderson | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,430 | |||
Buildings and Improvements | 21,850 | |||
Total | 23,280 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,430 | |||
Building and Improvements | 21,862 | |||
Total | 23,292 | |||
Accumulated Depreciation and Amortization | $ (1,920) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Kruse Village | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 476 | |||
Buildings and Improvements | 11,912 | |||
Total | 12,388 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 476 | |||
Building and Improvements | 11,922 | |||
Total | 12,398 | |||
Accumulated Depreciation and Amortization | $ (1,198) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Poet’s Walk of Cedar Parks | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,035 | |||
Buildings and Improvements | 13,127 | |||
Total | 14,162 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,035 | |||
Building and Improvements | 13,127 | |||
Total | 14,162 | |||
Accumulated Depreciation and Amortization | $ (999) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Avamere Court at Keizer | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,220 | |||
Buildings and Improvements | 31,783 | |||
Total | 33,003 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,220 | |||
Building and Improvements | 31,783 | |||
Total | 33,003 | |||
Accumulated Depreciation and Amortization | $ (2,002) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Arbor Court Retirement Community at Alvamar | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 584 | |||
Buildings and Improvements | 4,431 | |||
Total | 5,015 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 584 | |||
Building and Improvements | 4,431 | |||
Total | 5,015 | |||
Accumulated Depreciation and Amortization | $ (313) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Arbor Court Retirement Community at Salina | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 584 | |||
Buildings and Improvements | 3,020 | |||
Total | 3,604 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 584 | |||
Building and Improvements | 3,020 | |||
Total | 3,604 | |||
Accumulated Depreciation and Amortization | $ (212) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Arbor Court Retirement Community at Topeka | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 313 | |||
Buildings and Improvements | 5,492 | |||
Total | 5,805 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 313 | |||
Building and Improvements | 5,492 | |||
Total | 5,805 | |||
Accumulated Depreciation and Amortization | $ (356) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Aspen Grove Assisted Living | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 555 | |||
Buildings and Improvements | 6,487 | |||
Total | 7,042 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 555 | |||
Building and Improvements | 6,487 | |||
Total | 7,042 | |||
Accumulated Depreciation and Amortization | $ (464) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Maurice Griffith Manor Living Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 294 | |||
Buildings and Improvements | 72 | |||
Total | 366 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 294 | |||
Building and Improvements | 72 | |||
Total | 366 | |||
Accumulated Depreciation and Amortization | $ (9) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | The Peaks at Old Laramie Trail (Lafayette) | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,085 | |||
Buildings and Improvements | 19,243 | |||
Total | 20,328 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,883 | |||
Building and Improvements | 19,196 | |||
Total | 21,079 | |||
Accumulated Depreciation and Amortization | $ (1,217) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Prairie View | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 263 | |||
Buildings and Improvements | 3,743 | |||
Total | 4,006 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 263 | |||
Building and Improvements | 3,743 | |||
Total | 4,006 | |||
Accumulated Depreciation and Amortization | $ (229) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Arbor View Assisted Living | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,019 | |||
Buildings and Improvements | 3,606 | |||
Total | 4,625 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,019 | |||
Building and Improvements | 3,606 | |||
Total | 4,625 | |||
Accumulated Depreciation and Amortization | $ (187) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Legacy Assisted Living | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 661 | |||
Buildings and Improvements | 5,680 | |||
Total | 6,341 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 661 | |||
Building and Improvements | 5,680 | |||
Total | 6,341 | |||
Accumulated Depreciation and Amortization | $ (272) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Greenfield of Strasburg | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 666 | |||
Buildings and Improvements | 5,551 | |||
Total | 6,217 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 666 | |||
Building and Improvements | 5,551 | |||
Total | 6,217 | |||
Accumulated Depreciation and Amortization | $ (273) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Poets Walk of Sarasota | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,440 | |||
Buildings and Improvements | 22,541 | |||
Total | 23,981 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,440 | |||
Building and Improvements | 22,541 | |||
Total | 23,981 | |||
Accumulated Depreciation and Amortization | $ (991) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | The Pointe at Lifespring | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,603 | |||
Buildings and Improvements | 9,219 | |||
Total | 10,822 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,603 | |||
Building and Improvements | 9,219 | |||
Total | 10,822 | |||
Accumulated Depreciation and Amortization | $ (413) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Shavano Park Senior Living | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,131 | |||
Buildings and Improvements | 11,541 | |||
Total | 13,672 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,131 | |||
Building and Improvements | 11,541 | |||
Total | 13,672 | |||
Accumulated Depreciation and Amortization | $ (472) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Traditions of Beavercreek | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,622 | |||
Buildings and Improvements | 24,215 | |||
Total | 25,837 | |||
Cost Capitalized Subsequent to Acquisition | 5,686 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,622 | |||
Building and Improvements | 29,901 | |||
Total | 31,523 | |||
Accumulated Depreciation and Amortization | $ (916) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Leased | Cadence at Poway Gardens | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 3,693 | |||
Buildings and Improvements | 14,467 | |||
Total | 18,160 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 3,693 | |||
Building and Improvements | 14,467 | |||
Total | 18,160 | |||
Accumulated Depreciation and Amortization | $ (35) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 16,308 | |||
Initial Cost to Company | ||||
Land | 76,883 | |||
Buildings and Improvements | 804,427 | |||
Total | 881,310 | |||
Cost Capitalized Subsequent to Acquisition | 7,652 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 76,735 | |||
Building and Improvements | 831,036 | |||
Total | 907,771 | |||
Accumulated Depreciation and Amortization | (112,893) | |||
Senior Housing - Managed | Winter Village | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 5,027 | |||
Buildings and Improvements | 20,929 | |||
Total | 25,956 | |||
Cost Capitalized Subsequent to Acquisition | 871 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 5,027 | |||
Building and Improvements | 21,800 | |||
Total | 26,827 | |||
Accumulated Depreciation and Amortization | $ (4,475) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Stoney River Marshfield | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 574 | |||
Buildings and Improvements | 8,733 | |||
Total | 9,307 | |||
Cost Capitalized Subsequent to Acquisition | 163 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 574 | |||
Building and Improvements | 8,896 | |||
Total | 9,470 | |||
Accumulated Depreciation and Amortization | $ (1,806) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Kensington Court | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,360 | |||
Buildings and Improvements | 16,855 | |||
Total | 18,215 | |||
Cost Capitalized Subsequent to Acquisition | 590 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,405 | |||
Building and Improvements | 17,993 | |||
Total | 19,398 | |||
Accumulated Depreciation and Amortization | $ (2,458) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Masonville Manor | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 960 | |||
Buildings and Improvements | 19,056 | |||
Total | 20,016 | |||
Cost Capitalized Subsequent to Acquisition | 376 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 991 | |||
Building and Improvements | 20,051 | |||
Total | 21,042 | |||
Accumulated Depreciation and Amortization | $ (2,662) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Okanagan Chateau | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,321 | |||
Buildings and Improvements | 8,308 | |||
Total | 10,629 | |||
Cost Capitalized Subsequent to Acquisition | 1,065 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,396 | |||
Building and Improvements | 9,643 | |||
Total | 12,039 | |||
Accumulated Depreciation and Amortization | $ (1,381) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Court at Laurelwood | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,823 | |||
Buildings and Improvements | 22,135 | |||
Total | 23,958 | |||
Cost Capitalized Subsequent to Acquisition | 283 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,881 | |||
Building and Improvements | 23,138 | |||
Total | 25,019 | |||
Accumulated Depreciation and Amortization | $ (3,035) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Fairwinds Lodge | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,187 | |||
Buildings and Improvements | 20,346 | |||
Total | 21,533 | |||
Cost Capitalized Subsequent to Acquisition | 485 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,224 | |||
Building and Improvements | 21,493 | |||
Total | 22,717 | |||
Accumulated Depreciation and Amortization | $ (2,811) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | The Shores | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 4,957 | |||
Initial Cost to Company | ||||
Land | 679 | |||
Buildings and Improvements | 8,024 | |||
Total | 8,703 | |||
Cost Capitalized Subsequent to Acquisition | 222 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 700 | |||
Building and Improvements | 8,507 | |||
Total | 9,207 | |||
Accumulated Depreciation and Amortization | $ (1,163) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Orchard Valley | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 6,599 | |||
Initial Cost to Company | ||||
Land | 843 | |||
Buildings and Improvements | 10,724 | |||
Total | 11,567 | |||
Cost Capitalized Subsequent to Acquisition | 178 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 278 | |||
Building and Improvements | 11,251 | |||
Total | 11,529 | |||
Accumulated Depreciation and Amortization | $ (1,456) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Cherry Park | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 4,752 | |||
Initial Cost to Company | ||||
Land | 763 | |||
Buildings and Improvements | 6,771 | |||
Total | 7,534 | |||
Cost Capitalized Subsequent to Acquisition | 592 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 787 | |||
Building and Improvements | 7,584 | |||
Total | 8,371 | |||
Accumulated Depreciation and Amortization | $ (1,013) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Maison Senior Living | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 3,908 | |||
Buildings and Improvements | 20,996 | |||
Total | 24,904 | |||
Cost Capitalized Subsequent to Acquisition | 508 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 4,034 | |||
Building and Improvements | 22,187 | |||
Total | 26,221 | |||
Accumulated Depreciation and Amortization | $ (2,631) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Ramsey | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,182 | |||
Buildings and Improvements | 13,280 | |||
Total | 14,462 | |||
Cost Capitalized Subsequent to Acquisition | 31 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,182 | |||
Building and Improvements | 13,316 | |||
Total | 14,498 | |||
Accumulated Depreciation and Amortization | $ (909) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Marshfield II | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 500 | |||
Buildings and Improvements | 4,134 | |||
Total | 4,634 | |||
Cost Capitalized Subsequent to Acquisition | 9 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 500 | |||
Building and Improvements | 4,148 | |||
Total | 4,648 | |||
Accumulated Depreciation and Amortization | $ (317) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Dover Place | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,797 | |||
Buildings and Improvements | 23,054 | |||
Total | 25,851 | |||
Cost Capitalized Subsequent to Acquisition | 99 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,797 | |||
Building and Improvements | 23,153 | |||
Total | 25,950 | |||
Accumulated Depreciation and Amortization | $ (1,381) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Kanawha Place | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 419 | |||
Buildings and Improvements | 4,239 | |||
Total | 4,658 | |||
Cost Capitalized Subsequent to Acquisition | 305 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 419 | |||
Building and Improvements | 4,544 | |||
Total | 4,963 | |||
Accumulated Depreciation and Amortization | $ (368) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Leighton Place | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 296 | |||
Buildings and Improvements | 9,191 | |||
Total | 9,487 | |||
Cost Capitalized Subsequent to Acquisition | 174 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 296 | |||
Building and Improvements | 9,365 | |||
Total | 9,661 | |||
Accumulated Depreciation and Amortization | $ (591) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Maidencreek Place | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 684 | |||
Buildings and Improvements | 12,950 | |||
Total | 13,634 | |||
Cost Capitalized Subsequent to Acquisition | 34 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 684 | |||
Building and Improvements | 12,984 | |||
Total | 13,668 | |||
Accumulated Depreciation and Amortization | $ (796) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Rolling Meadows Place | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 230 | |||
Buildings and Improvements | 6,271 | |||
Total | 6,501 | |||
Cost Capitalized Subsequent to Acquisition | 238 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 230 | |||
Building and Improvements | 6,510 | |||
Total | 6,740 | |||
Accumulated Depreciation and Amortization | $ (483) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Willowbrook Place | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 406 | |||
Buildings and Improvements | 9,471 | |||
Total | 9,877 | |||
Cost Capitalized Subsequent to Acquisition | 352 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 406 | |||
Building and Improvements | 9,823 | |||
Total | 10,229 | |||
Accumulated Depreciation and Amortization | $ (667) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Wyncote Place | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,781 | |||
Buildings and Improvements | 4,911 | |||
Total | 6,692 | |||
Cost Capitalized Subsequent to Acquisition | 289 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,781 | |||
Building and Improvements | 5,199 | |||
Total | 6,980 | |||
Accumulated Depreciation and Amortization | $ (419) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Amity Place | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 611 | |||
Buildings and Improvements | 19,083 | |||
Total | 19,694 | |||
Cost Capitalized Subsequent to Acquisition | 74 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 611 | |||
Building and Improvements | 19,157 | |||
Total | 19,768 | |||
Accumulated Depreciation and Amortization | $ (1,111) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Milford Place | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,199 | |||
Buildings and Improvements | 18,786 | |||
Total | 19,985 | |||
Cost Capitalized Subsequent to Acquisition | 153 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,199 | |||
Building and Improvements | 18,939 | |||
Total | 20,138 | |||
Accumulated Depreciation and Amortization | $ (1,131) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Oak Hill Place | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 609 | |||
Buildings and Improvements | 2,636 | |||
Total | 3,245 | |||
Cost Capitalized Subsequent to Acquisition | 128 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 609 | |||
Building and Improvements | 2,765 | |||
Total | 3,374 | |||
Accumulated Depreciation and Amortization | $ (258) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Seasons Place | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 355 | |||
Buildings and Improvements | 5,055 | |||
Total | 5,410 | |||
Cost Capitalized Subsequent to Acquisition | 339 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 355 | |||
Building and Improvements | 5,394 | |||
Total | 5,749 | |||
Accumulated Depreciation and Amortization | $ (443) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Parkview in Allen | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,190 | |||
Buildings and Improvements | 45,767 | |||
Total | 47,957 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,190 | |||
Building and Improvements | 46,425 | |||
Total | 48,615 | |||
Accumulated Depreciation and Amortization | $ (6,898) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | The Atrium At Gainesville | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,139 | |||
Buildings and Improvements | 44,789 | |||
Total | 46,928 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,139 | |||
Building and Improvements | 46,439 | |||
Total | 48,578 | |||
Accumulated Depreciation and Amortization | $ (7,164) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | The Chateau | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,760 | |||
Buildings and Improvements | 44,397 | |||
Total | 47,157 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,760 | |||
Building and Improvements | 45,243 | |||
Total | 48,003 | |||
Accumulated Depreciation and Amortization | $ (6,787) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Gardens At Wakefield Plantation | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,344 | |||
Buildings and Improvements | 37,506 | |||
Total | 39,850 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,344 | |||
Building and Improvements | 38,200 | |||
Total | 40,544 | |||
Accumulated Depreciation and Amortization | $ (5,572) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Las Brisas | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 4,992 | |||
Buildings and Improvements | 30,909 | |||
Total | 35,901 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 4,992 | |||
Building and Improvements | 31,349 | |||
Total | 36,341 | |||
Accumulated Depreciation and Amortization | $ (4,749) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Creekside Terrace | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,995 | |||
Buildings and Improvements | 24,428 | |||
Total | 27,423 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,995 | |||
Building and Improvements | 24,713 | |||
Total | 27,708 | |||
Accumulated Depreciation and Amortization | $ (3,822) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Colonial Village | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 805 | |||
Buildings and Improvements | 26,498 | |||
Total | 27,303 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 805 | |||
Building and Improvements | 27,458 | |||
Total | 28,263 | |||
Accumulated Depreciation and Amortization | $ (4,157) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Garden Village | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,325 | |||
Buildings and Improvements | 20,510 | |||
Total | 21,835 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,325 | |||
Building and Improvements | 21,381 | |||
Total | 22,706 | |||
Accumulated Depreciation and Amortization | $ (3,413) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Desert Rose | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 530 | |||
Buildings and Improvements | 21,775 | |||
Total | 22,305 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 530 | |||
Building and Improvements | 22,066 | |||
Total | 22,596 | |||
Accumulated Depreciation and Amortization | $ (3,395) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Windland South | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,996 | |||
Buildings and Improvements | 19,368 | |||
Total | 21,364 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,996 | |||
Building and Improvements | 20,281 | |||
Total | 22,277 | |||
Accumulated Depreciation and Amortization | $ (3,330) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Cedar Woods | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,403 | |||
Buildings and Improvements | 18,821 | |||
Total | 21,224 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,403 | |||
Building and Improvements | 19,263 | |||
Total | 21,666 | |||
Accumulated Depreciation and Amortization | $ (2,962) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Virginian | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,080 | |||
Buildings and Improvements | 19,545 | |||
Total | 20,625 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,080 | |||
Building and Improvements | 20,131 | |||
Total | 21,211 | |||
Accumulated Depreciation and Amortization | $ (3,141) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Monarch Estates | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 3,209 | |||
Buildings and Improvements | 17,326 | |||
Total | 20,535 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 3,209 | |||
Building and Improvements | 17,640 | |||
Total | 20,849 | |||
Accumulated Depreciation and Amortization | $ (2,821) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Village At The Falls | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,477 | |||
Buildings and Improvements | 18,778 | |||
Total | 20,255 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,477 | |||
Building and Improvements | 19,044 | |||
Total | 20,521 | |||
Accumulated Depreciation and Amortization | $ (3,030) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Holiday At The Atrium | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 978 | |||
Buildings and Improvements | 18,257 | |||
Total | 19,235 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 978 | |||
Building and Improvements | 18,967 | |||
Total | 19,945 | |||
Accumulated Depreciation and Amortization | $ (2,919) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Lake Ridge Village | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,152 | |||
Buildings and Improvements | 17,523 | |||
Total | 18,675 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,152 | |||
Building and Improvements | 18,330 | |||
Total | 19,482 | |||
Accumulated Depreciation and Amortization | $ (2,885) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Heritage Village | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 4,092 | |||
Buildings and Improvements | 13,823 | |||
Total | 17,915 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 4,092 | |||
Building and Improvements | 14,321 | |||
Total | 18,413 | |||
Accumulated Depreciation and Amortization | $ (2,339) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Madison Meadows | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,567 | |||
Buildings and Improvements | 12,029 | |||
Total | 14,596 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,567 | |||
Building and Improvements | 12,807 | |||
Total | 15,374 | |||
Accumulated Depreciation and Amortization | $ (2,136) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | South Wind Heights | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,782 | |||
Buildings and Improvements | 11,244 | |||
Total | 13,026 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,782 | |||
Building and Improvements | 11,721 | |||
Total | 13,503 | |||
Accumulated Depreciation and Amortization | $ (1,939) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Harrison Regent | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 794 | |||
Buildings and Improvements | 10,873 | |||
Total | 11,667 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 794 | |||
Building and Improvements | 11,607 | |||
Total | 12,401 | |||
Accumulated Depreciation and Amortization | $ (1,843) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | Capital Place | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,477 | |||
Buildings and Improvements | 23,767 | |||
Total | 26,244 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,477 | |||
Building and Improvements | 25,160 | |||
Total | 27,637 | |||
Accumulated Depreciation and Amortization | $ (3,769) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Senior Housing - Managed | The Monarch at Richardson | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,282 | |||
Buildings and Improvements | 10,556 | |||
Total | 12,838 | |||
Cost Capitalized Subsequent to Acquisition | 94 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,282 | |||
Building and Improvements | 10,650 | |||
Total | 12,932 | |||
Accumulated Depreciation and Amortization | $ (57) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Specialty Hospitals and Other | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 79,694 | |||
Buildings and Improvements | 552,861 | |||
Total | 632,555 | |||
Cost Capitalized Subsequent to Acquisition | 7,168 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 79,694 | |||
Building and Improvements | 560,027 | |||
Total | 639,721 | |||
Accumulated Depreciation and Amortization | (47,124) | |||
Specialty Hospitals and Other | Texas Regional Medical Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 4,020 | |||
Buildings and Improvements | 57,620 | |||
Total | 61,640 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 4,020 | |||
Building and Improvements | 57,620 | |||
Total | 61,640 | |||
Accumulated Depreciation and Amortization | $ (15,928) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Specialty Hospitals and Other | Baylor Orthopedic Spine Hospital at Arlington | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings and Improvements | 44,217 | |||
Total | 44,217 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 0 | |||
Building and Improvements | 44,217 | |||
Total | 44,217 | |||
Accumulated Depreciation and Amortization | $ (2,651) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Specialty Hospitals and Other | Touchstone Neurorecovery Center | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,935 | |||
Buildings and Improvements | 25,003 | |||
Total | 27,938 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,935 | |||
Building and Improvements | 25,003 | |||
Total | 27,938 | |||
Accumulated Depreciation and Amortization | $ (1,695) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Specialty Hospitals and Other | HealthBridge Children’s Hospital (Houston) | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 3,001 | |||
Buildings and Improvements | 14,581 | |||
Total | 17,582 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 3,001 | |||
Building and Improvements | 14,581 | |||
Total | 17,582 | |||
Accumulated Depreciation and Amortization | $ (890) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Specialty Hospitals and Other | Nexus Specialty Hospital - Woodlands Campus | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,319 | |||
Buildings and Improvements | 15,153 | |||
Total | 16,472 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,319 | |||
Building and Improvements | 15,153 | |||
Total | 16,472 | |||
Accumulated Depreciation and Amortization | $ (927) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Specialty Hospitals and Other | HealthBridge Children’s Hospital (Orange) | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,060 | |||
Buildings and Improvements | 5,538 | |||
Total | 7,598 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,060 | |||
Building and Improvements | 5,538 | |||
Total | 7,598 | |||
Accumulated Depreciation and Amortization | $ (353) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Specialty Hospitals and Other | ResCare Tangram - Texas Hill Country School | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 902 | |||
Buildings and Improvements | 2,384 | |||
Total | 3,286 | |||
Cost Capitalized Subsequent to Acquisition | 1 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 902 | |||
Building and Improvements | 2,385 | |||
Total | 3,287 | |||
Accumulated Depreciation and Amortization | $ (170) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Specialty Hospitals and Other | ResCare Tangram - Chaparral | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 901 | |||
Buildings and Improvements | 1,198 | |||
Total | 2,099 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 901 | |||
Building and Improvements | 1,198 | |||
Total | 2,099 | |||
Accumulated Depreciation and Amortization | $ (103) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Specialty Hospitals and Other | ResCare Tangram - Sierra Verde & Roca Vista | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 456 | |||
Buildings and Improvements | 2,632 | |||
Total | 3,088 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 456 | |||
Building and Improvements | 2,632 | |||
Total | 3,088 | |||
Accumulated Depreciation and Amortization | $ (176) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Specialty Hospitals and Other | ResCare Tangram - 618 W. Hutchinson | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 51 | |||
Buildings and Improvements | 359 | |||
Total | 410 | |||
Cost Capitalized Subsequent to Acquisition | 62 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 51 | |||
Building and Improvements | 421 | |||
Total | 472 | |||
Accumulated Depreciation and Amortization | $ (70) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Specialty Hospitals and Other | ResCare Tangram - Ranch | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 539 | |||
Buildings and Improvements | 2,627 | |||
Total | 3,166 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 539 | |||
Building and Improvements | 2,627 | |||
Total | 3,166 | |||
Accumulated Depreciation and Amortization | $ (223) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Specialty Hospitals and Other | ResCare Tangram - Mesquite | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 228 | |||
Buildings and Improvements | 3,407 | |||
Total | 3,635 | |||
Cost Capitalized Subsequent to Acquisition | 79 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 228 | |||
Building and Improvements | 3,486 | |||
Total | 3,714 | |||
Accumulated Depreciation and Amortization | $ (247) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Specialty Hospitals and Other | ResCare Tangram - Hacienda | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 104 | |||
Buildings and Improvements | 2,788 | |||
Total | 2,892 | |||
Cost Capitalized Subsequent to Acquisition | 27 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 104 | |||
Building and Improvements | 2,814 | |||
Total | 2,918 | |||
Accumulated Depreciation and Amortization | $ (182) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Specialty Hospitals and Other | ResCare Tangram - Loma Linda | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 52 | |||
Buildings and Improvements | 805 | |||
Total | 857 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 52 | |||
Building and Improvements | 805 | |||
Total | 857 | |||
Accumulated Depreciation and Amortization | $ (57) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Specialty Hospitals and Other | Aurora Chicago Lakeshore Hospital | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 8,574 | |||
Buildings and Improvements | 39,732 | |||
Total | 48,306 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 8,574 | |||
Building and Improvements | 39,732 | |||
Total | 48,306 | |||
Accumulated Depreciation and Amortization | $ (2,576) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Specialty Hospitals and Other | Aurora Arizona West | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,501 | |||
Buildings and Improvements | 67,046 | |||
Total | 68,547 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,501 | |||
Building and Improvements | 67,046 | |||
Total | 68,547 | |||
Accumulated Depreciation and Amortization | $ (4,104) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Specialty Hospitals and Other | Aurora Arizona East | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 3,137 | |||
Buildings and Improvements | 50,073 | |||
Total | 53,210 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 3,137 | |||
Building and Improvements | 50,073 | |||
Total | 53,210 | |||
Accumulated Depreciation and Amortization | $ (3,133) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Specialty Hospitals and Other | Aurora Charter Oak Hospital | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 23,472 | |||
Buildings and Improvements | 71,542 | |||
Total | 95,014 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 23,472 | |||
Building and Improvements | 71,542 | |||
Total | 95,014 | |||
Accumulated Depreciation and Amortization | $ (4,549) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Specialty Hospitals and Other | Aurora Vista del Mar Hospital | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 8,089 | |||
Buildings and Improvements | 43,645 | |||
Total | 51,734 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 8,089 | |||
Building and Improvements | 43,645 | |||
Total | 51,734 | |||
Accumulated Depreciation and Amortization | $ (3,017) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Specialty Hospitals and Other | Aurora San Diego Hospital | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 8,403 | |||
Buildings and Improvements | 55,015 | |||
Total | 63,418 | |||
Cost Capitalized Subsequent to Acquisition | 6,999 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 8,403 | |||
Building and Improvements | 62,013 | |||
Total | 70,416 | |||
Accumulated Depreciation and Amortization | $ (3,855) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Specialty Hospitals and Other | Gateway Rehabilitation Hospital at Florence | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 3,866 | |||
Buildings and Improvements | 26,447 | |||
Total | 30,313 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 3,866 | |||
Building and Improvements | 26,447 | |||
Total | 30,313 | |||
Accumulated Depreciation and Amortization | $ (1,615) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Specialty Hospitals and Other | Highlands Regional Rehabilitation Hospital | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,009 | |||
Buildings and Improvements | 6,639 | |||
Total | 8,648 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,009 | |||
Building and Improvements | 6,639 | |||
Total | 8,648 | |||
Accumulated Depreciation and Amortization | $ (450) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Specialty Hospitals and Other | Landmark Carmel | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 963 | |||
Buildings and Improvements | 4,347 | |||
Total | 5,310 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 963 | |||
Building and Improvements | 4,347 | |||
Total | 5,310 | |||
Accumulated Depreciation and Amortization | $ (64) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Specialty Hospitals and Other | Landmark Louisville | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,078 | |||
Buildings and Improvements | 8,305 | |||
Total | 9,383 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 1,078 | |||
Building and Improvements | 8,305 | |||
Total | 9,383 | |||
Accumulated Depreciation and Amortization | $ (89) | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years | |||
Specialty Hospitals and Other | Recovery Centers of America at Monroeville | ||||
Real Estate and Accumulated Depreciation | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,034 | |||
Buildings and Improvements | 1,758 | |||
Total | 3,792 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at which Carried at Close of Period | ||||
Land | 2,034 | |||
Building and Improvements | 1,758 | |||
Total | 3,792 | |||
Accumulated Depreciation and Amortization | $ 0 | |||
Life on Which Depreciation in Latest Income Statement is Computed | 40 years |
SCHEDULE III - REAL ESTATE AS_3
SCHEDULE III - REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION - Rollforward of Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Real estate: | |||
Balance at the beginning of the year | $ 6,255,883 | $ 6,334,855 | $ 2,292,751 |
Acquisitions | 49,483 | 262,605 | 4,145,977 |
Real estate assumed | 12,962 | 0 | 0 |
Real estate acquired through loan receivable foreclosure | 0 | 0 | 19,096 |
Improvements | 25,451 | 27,697 | 6,954 |
Impairment | (143,655) | (1,576) | (2,211) |
Sale of real estate | (322,910) | (351,922) | (133,897) |
Foreign currency translation | 6,918 | (12,639) | 10,556 |
Write-off of fully depreciated assets | (3,549) | (3,137) | (4,371) |
Balance at the end of the year | 5,880,583 | 6,255,883 | 6,334,855 |
Accumulated depreciation: | |||
Balance at the beginning of the year | (402,338) | (340,423) | (282,812) |
Depreciation expense | (163,863) | (174,398) | (101,198) |
Impairment | 22,070 | 163 | 885 |
Sale of real estate | 2,092 | 108,122 | 38,914 |
Foreign currency translation | (723) | 1,061 | (583) |
Write-off of fully depreciated assets | 3,549 | 3,137 | 4,371 |
Balance at the end of the year | $ (539,213) | $ (402,338) | $ (340,423) |
SCHEDULE IV - MORTGAGE LOANS _2
SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2019 | |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Prior Liens | $ 0 | |||
Principal Balance | $ 23,146 | $ 16,033 | $ 16,033 | 21,468 |
Book Value | 21,487 | |||
Aggregate cost for federal income tax purposes | 21,600 | |||
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward] | ||||
Balance at the beginning of the year | 23,146 | 16,033 | 39,026 | |
Additions during period: | ||||
Draws | 1,689 | 10,943 | 1,738 | |
New mortgage loans | 0 | 0 | 12,987 | |
Interest income added to principal | 194 | 1,528 | 539 | |
Deductions during period: | ||||
Paydowns/repayments | (3,561) | (5,358) | (14,570) | |
Conversion to real property | 0 | 0 | (19,085) | |
Write-offs | 0 | 0 | (4,602) | |
Balance at the end of the year | $ 21,468 | $ 23,146 | $ 16,033 | |
Mortgages | River Vista | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Contractual Interest Rate | 10.00% | |||
Prior Liens | 0 | |||
Principal Balance | $ 19,000 | 19,000 | ||
Book Value | 19,000 | |||
Deductions during period: | ||||
Balance at the end of the year | $ 19,000 | |||
Construction Mortgages | Arlington | ||||
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items] | ||||
Contractual Interest Rate | 8.00% | |||
Prior Liens | 0 | |||
Principal Balance | $ 2,468 | 2,468 | ||
Book Value | $ 2,487 | |||
Deductions during period: | ||||
Balance at the end of the year | $ 2,468 |
Uncategorized Items - sbra10k20
Label | Element | Value |
Accounting Standards Update 2017-12 [Member] | AOCI Attributable to Parent [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ 795,000 |
Accounting Standards Update 2017-12 [Member] | Accumulated Distributions in Excess of Net Income [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | (795,000) |
Accounting Standards Update 2016-02 [Member] | Parent [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | (32,502,000) |
Accounting Standards Update 2016-02 [Member] | Accumulated Distributions in Excess of Net Income [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ (32,502,000) |