Leases (Tables)

12 Months Ended

Dec. 31, 2013

Summary of real property leases (including with respect to 10 senior living communities which the entity has classified as discontinued operations)

			Annual minimum rent as of December 31, 2013		Initial expiration date	Renewal terms

1.	Lease No. 1 for SNFs and independent and assisted living communities⁽¹⁾	90	$	58,726	December 31, 2024	Two 15-year renewal options.
2.	Lease No. 2 for SNFs and independent and assisted living communities	51		62,461	June 30, 2026	Two 10-year renewal options.
3.	Lease No. 3 for independent and assisted living communities⁽²⁾	17		34,205	December 31, 2028	Two 15-year renewal options.
4.	Lease No. 4 for SNFs and independent and assisted living communities⁽³⁾	29		34,743	April 30, 2017	Two 15-year renewal options.
5.	One HCP lease	4		2,500	April 30, 2028	One 10-year renewal option.


	Totals	191	$	192,635

(1): Lease No. 1 is comprised of three separate leases. Two of these three leases exist to accommodate mortgage financings in effect at the time SNH acquired the properties; we have agreed with SNH to combine all three of these leases into one lease as and when these mortgage financings are paid.
(2): Lease No. 3 exists to accommodate certain mortgage financing by SNH.
(3): Lease No. 4 is comprised of two separate leases. One of these two leases exists to accommodate mortgage obligations in effect at the time SNH acquired the property; we have agreed with SNH to combine both of these leases into one lease when the mortgage financing is paid. We and SNH have entered into an amendment to Lease No. 4 pursuant to which we and SNH added a third option for us to extend the term of Lease No. 4 from May 1, 2047 to April 30, 2062. In addition, we exercised the first of our existing options to extend the term of Lease No. 4, extending the term from April 30, 2017 to April 30, 2032.

Schedule of future minimum rents

The future minimum rents required by our leases as of December 31, 2013, are as follows:


2014	$	192,667
2015		192,718
2016		192,769
2017		169,661
2018		158,133
Thereafter		1,191,240


	$	2,097,188

- Definition

Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

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