Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2013

The following tables reconcile the segment activity to consolidated net income for the three months ended June 30, 2013 and 2012:

	Three Months Ended June 30, 2013								Three Months Ended June 30, 2012
	Senior living operations		Triple-net leased properties		Medical office building		Consolidated		Senior living operations		Triple-net leased properties		Medical office building		Consolidated
Rental revenue	$	6,879,000	$	1,309,000	$	214,000	$	8,402,000	$	6,715,000	$	1,325,000	$	209,000	$	8,249,000
Resident services and fee income		5,967,000		—		—		5,967,000		2,311,000		—		—		2,311,000
Tenant reimbursements and other income		108,000		219,000		75,000		402,000		137,000		222,000		88,000		447,000
	$	12,954,000	$	1,528,000	$	289,000	$	14,771,000	$	9,163,000	$	1,547,000	$	297,000	$	11,007,000
Property operating and maintenance		8,578,000		227,000		75,000		8,880,000		6,614,000		228,000		79,000		6,921,000

Net operating income	$	4,376,000	$	1,301,000	$	214,000	$	5,891,000	$	2,549,000	$	1,319,000	$	218,000	$	4,086,000
General and administrative expenses								220,000								370,000
Asset management fees and expenses								746,000								503,000
Real estate acquisition costs and contingent consideration								—								190,000
Depreciation and amortization								2,398,000								1,530,000
Interest expense, net								2,059,000								1,596,000
Loss on debt extinguishment and other expense								—								146,000
Equity in (income) loss from unconsolidated entities								(51,000)								442,000
Gain in remeasurement of investment in unconsolidated entity								—								(1,282,000)
Net income							$	519,000							$	591,000

	Six Months Ended June 30, 2013								Six Months Ended June 30, 2012
	Senior living operations		Triple-net leased properties		Medical office building		Consolidated		Senior living operations		Triple-net leased properties		Medical office building		Consolidated
Rental revenue	$	13,828,000	$	2,619,000	$	427,000	$	16,874,000	$	13,540,000	$	2,134,000	$	420,000	$	16,094,000
Resident services and fee income		11,921,000		—		—		11,921,000		4,589,000		—		—		4,589,000
Tenant reimbursements and other income		226,000		437,000		147,000		810,000		279,000		371,000		159,000		809,000
	$	25,975,000	$	3,056,000	$	574,000	$	29,605,000	$	18,408,000	$	2,505,000	$	579,000	$	21,492,000
Property operating and maintenance		17,115,000		453,000		150,000		17,718,000		12,918,000		377,000		152,000		13,447,000

Net operating income	$	8,860,000	$	2,603,000	$	424,000	$	11,887,000	$	5,490,000	$	2,128,000	$	427,000	$	8,045,000
General and administrative expenses								663,000								1,204,000
Asset management fees and expenses								1,394,000								984,000
Real estate acquisition costs and contingent consideration								—								206,000
Depreciation and amortization								4,789,000								2,963,000
Interest expense, net								4,091,000								3,023,000
Loss on debt extinguishment and other expense								—								152,000
Equity in (income) loss from unconsolidated entities								(80,000)								376,000
Gain in remeasurement in unconsolidated entity								—								(1,282,000)
Net income							$	1,030,000							$	419,000

The following table reconciles the segment activity to consolidated financial position as of June 30, 2013 and December 31, 2012.

	June 30, 2013		December 31, 2012
Assets
Investment in real estate:
Senior living operations	$	134,222,000	$	137,784,000
Triple-net leased properties		42,906,000		43,781,000
Medical office building		8,013,000		8,171,000
Total reportable segments	$	185,141,000	$	189,736,000
Reconciliation to consolidated assets:
Cash and cash equivalents		17,039,000		21,507,000
Deferred financing costs, net		1,504,000		1,697,000
Investment in unconsolidated entities		3,331,000		3,529,000
Tenant and other receivables, net		2,546,000		1,988,000
Deferred costs and other assets		6,912,000		2,987,000
Restricted cash		3,607,000		3,821,000
Goodwill		5,965,000		5,965,000
Total assets	$	226,045,000	$	231,230,000