

	For the Three Months Ended June 30, 2017
	Triple Net Leased Senior Living Communities			Managed Senior Living Communities			MOBs			All Other Operations			Consolidated
Revenues:
Rental income	$	67,426		$	—		$	94,651		$	4,570		$	166,647
Residents fees and services	—			98,366			—			—			98,366
Total revenues	67,426			98,366			94,651			4,570			265,013

Expenses:
Property operating expenses	—			75,149			27,646			—			102,795
Depreciation and amortization	20,470			16,390			31,861			948			69,669
General and administrative	—			—			—			22,922			22,922
Impairment of assets	—			—			—			5,082			5,082
Total expenses	20,470			91,539			59,507			28,952			200,468

Operating income (loss)	46,956			6,827			35,144			(24,382		)	64,545

Dividend income	—			—			—			659			659
Interest and other income	—			—			—			76			76
Interest expense	(2,211		)	(1,176		)	(6,250		)	(31,163		)	(40,800		)
Loss on early extinguishment of debt	(7,294		)	—			(59		)	—			(7,353		)
Income (loss) from continuing operations before income tax expense and equity in earnings of an investee	37,451			5,651			28,835			(54,810		)	17,127
Income tax expense	—			—			—			(99		)	(99		)
Equity in earnings of an investee	—			—			—			374			374
Net income (loss)	37,451			5,651			28,835			(54,535		)	17,402
Net income attributable to noncontrolling interest	—			—			(1,360		)	—			(1,360		)
Net income (loss) attributable to common shareholders	$	37,451		$	5,651		$	27,475		$	(54,535	)	$	16,042

	As of June 30, 2017
	Triple Net Leased Senior Living Communities			Managed Senior Living Communities			MOBs			All Other Operations			Consolidated
Total assets	$	2,276,979		$	1,238,723		$	3,309,089		$	358,829		$	7,183,620



	For the Three Months Ended June 30, 2016
	Triple Net Leased Senior Living Communities			Managed Senior Living Communities			MOBs			All Other Operations			Consolidated
Revenues:
Rental income	$	66,441		$	—		$	92,978		$	4,578		$	163,997
Residents fees and services	—			97,370			—			—			97,370
Total revenues	66,441			97,370			92,978			4,578			261,367

Expenses:
Property operating expenses	423			71,642			25,409			—			97,474
Depreciation and amortization	19,273			20,140			31,011			948			71,372
General and administrative	—			—			—			11,965			11,965
Acquisition and certain other transaction related costs	—			—			—			180			180
Impairment of assets	—			—			4,961			—			4,961
Total expenses	19,696			91,782			61,381			13,093			185,952

Operating income (loss)	46,745			5,588			31,597			(8,515		)	75,415

Dividend income	—			—			—			789			789
Interest and other income	—			—			—			177			177
Interest expense	(6,282		)	(2,663		)	(844		)	(31,329		)	(41,118		)
Income (loss) from continuing operations before income tax expense and equity in earnings of an investee	40,463			2,925			30,753			(38,878		)	35,263
Income tax expense	—			—			—			(108		)	(108		)
Equity in earnings of an investee	—			—			—			17			17
Income (loss) before gain on sale of properties	40,463			2,925			30,753			(38,969		)	35,172
Gain on sale of properties	4,061			—			—			—			4,061
Net income (loss)	$	44,524		$	2,925		$	30,753		$	(38,969	)	$	39,233

	As of December 31, 2016
	Triple Net Leased Senior Living Communities			Managed Senior Living Communities			MOBs			All Other Operations			Consolidated
Total assets	$	2,289,045		$	1,260,032		$	3,333,141		$	345,536		$	7,227,754



	For the Six Months Ended June 30, 2017
	Triple Net Leased Senior Living Communities			Managed Senior Living Communities			MOBs			All Other Operations			Consolidated
Revenues:
Rental income	$	134,678		$	—		$	189,297		$	9,115		$	333,090
Residents fees and services	—			196,484			—			—			196,484
Total revenues	134,678			196,484			189,297			9,115			529,574

Expenses:
Property operating expenses	—			149,028			54,823			—			203,851
Depreciation and amortization	40,804			36,605			63,539			1,896			142,844
General and administrative	—			—			—			38,005			38,005
Acquisition and certain other transaction related costs	—			—			—			292			292
Impairment of assets	—			—			—			5,082			5,082
Total expenses	40,804			185,633			118,362			45,275			390,074

Operating income (loss)	93,874			10,851			70,935			(36,160		)	139,500

Dividend income	—			—			—			1,319			1,319
Interest and other income	—			—			—			195			195
Interest expense	(7,550		)	(2,352		)	(12,570		)	(61,817		)	(84,289		)
Loss on early extinguishment of debt	(7,294		)	—			(59		)	—			(7,353		)
Income (loss) from continuing operations before income tax expense and equity in earnings of an investee	79,030			8,499			58,306			(96,463		)	49,372
Income tax expense	—			—			—			(191		)	(191		)
Equity in earnings of an investee	—			—			—			502			502
Net income (loss)	79,030			8,499			58,306			(96,152		)	49,683
Net income attributable to noncontrolling interest	—			—			(1,486		)	—			(1,486		)
Net income (loss) attributable to common shareholders	$	79,030		$	8,499		$	56,820		$	(96,152	)	$	48,197

	As of June 30, 2017
	Triple Net Leased Senior Living Communities			Managed Senior Living Communities			MOBs			All Other Operations			Consolidated
Total assets	$	2,276,979		$	1,238,723		$	3,309,089		$	358,829		$	7,183,620



	For the Six Months Ended June 30, 2016
	Triple Net Leased Senior Living Communities			Managed Senior Living Communities			MOBs			All Other Operations			Consolidated
Revenues:
Rental income	$	131,749		$	—		$	184,559		$	9,111		$	325,419
Residents fees and services	—			194,323			—			—			194,323
Total revenues	131,749			194,323			184,559			9,111			519,742

Expenses:
Property operating expenses	786			143,820			50,816			—			195,422
Depreciation and amortization	38,674			40,158			61,866			1,896			142,594
General and administrative	—			—			—			22,828			22,828
Acquisition and certain other transaction related costs	—			—			—			619			619
Impairment of assets	4,391			—			7,960			—			12,351
Total expenses	43,851			183,978			120,642			25,343			373,814

Operating income (loss)	87,898			10,345			63,917			(16,232		)	145,928

Dividend income	—			—			—			789			789
Interest and other income	—			—			—			242			242
Interest expense	(12,665		)	(5,227		)	(1,798		)	(60,709		)	(80,399		)
Loss on early extinguishment of debt	—			(6		)	—			—			(6		)
Income (loss) from continuing operations before income tax expense and equity in earnings of an investee	75,233			5,112			62,119			(75,910		)	66,554
Income tax expense	—			—			—			(202		)	(202		)
Equity in earnings of an investee	—			—			—			94			94
Income (loss) from before gain on sale of properties	75,233			5,112			62,119			(76,018		)	66,446
Gain on sale of properties	4,061			—			—			—			4,061
Net income (loss)	$	79,294		$	5,112		$	62,119		$	(76,018	)	$	70,507

	As of December 31, 2016
	Triple Net Leased Senior Living Communities			Managed Senior Living Communities			MOBs			All Other Operations			Consolidated
Total assets	$	2,289,045		$	1,260,032		$	3,333,141		$	345,536		$	7,227,754