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REAL ESTATE INVESTMENTS
 12 Months Ended
Dec. 31, 2011
Real Estate Investments [Abstract]  
Real Estate Disclosure [Text Block]
REAL ESTATE INVESTMENTS

The Company’s investments in real estate consisted of the following (dollars in thousands):
As of December 31, 2011  
Property Type
 
Number of
Properties
 
Number of
Beds/Units
 
Total
Real Estate
at Cost
 
Accumulated
Depreciation
 
Total
Real Estate
Investments, Net
Skilled Nursing
 
76

 
8,646

 
$
582,609

 
$
(83,235
)
 
$
499,374

Multi-License Designation
 
10

 
1,389

 
80,350

 
(16,850
)
 
63,500

Assisted Living
 
6

 
426

 
26,223

 
(4,540
)
 
21,683

Mental Health
 
2

 
82

 
971

 
(429
)
 
542

Independent Living
 
1

 
49

 
8,008

 
(1,104
)
 
6,904

Continuing Care Retirement Community
 
1

 
215

 
7,253

 
(1,552
)
 
5,701

Acute Care Hospital
 
1

 
70

 
61,640

 
(1,154
)
 
60,486

 
 
97

 
10,877

 
767,054

 
(108,864
)
 
658,190

Corporate Level
 
 
 
 
 
239

 
(52
)
 
187

 
 
 
 
 
 
$
767,293

 
$
(108,916
)
 
$
658,377

As of December 31, 2010
Property Type
 
Number of
Properties
 
Number of
Beds/Units
 
Total
Real Estate
at Cost
 
Accumulated
Depreciation
 
Total
Real Estate
Investments, Net
Skilled Nursing
 
67

 
7,501

 
$
448,974

 
$
(67,457
)
 
$
381,517

Multi-License Designation
 
10

 
1,389

 
81,245

 
(14,597
)
 
66,648

Assisted Living
 
5

 
367

 
24,094

 
(4,053
)
 
20,041

Mental Health
 
2

 
82

 
998

 
(370
)
 
628

Independent Living
 
1

 
49

 
8,022

 
(875
)
 
7,147

Continuing Care Retirement Community
 
1

 
215

 
7,435

 
(1,349
)
 
6,086

 
 
86

 
9,603

 
570,768

 
(88,701
)
 
482,067

Corporate Level
 
 
 
 
 
230

 
—

 
230

 
 
 
 
 
 
$
570,998

 
$
(88,701
)
 
$
482,297

 
 
December 31, 2011
 
December 31, 2010
Building and improvements
$
626,877

 
$
460,097

Furniture and equipment
44,045

 
36,225

Land improvements
4,640

 
4,703

Land
91,731

 
69,973

 
767,293

 
570,998

Accumulated depreciation
(108,916
)
 
(88,701
)
 
$
658,377

 
$
482,297

Operating Leases
All of the Company’s real estate properties are leased under triple-net operating leases with expirations ranging from 9 to 23 years. As of December 31, 2011, the leases have a weighted-average remaining term of 12 years. The leases 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. In addition, the Company may receive additional security under these operating leases in the form of security deposits from the lessee or guarantees from the parent of the lessee. Security deposits received in cash related to tenant leases are included in accounts payable and accrued liabilities in the accompanying consolidated balance sheets and totaled $0.7 million as December 31, 2011. There were no security deposits held as of December 31, 2010.
As of December 31, 2011, 86 of the Company's 97 real estate properties were leased to subsidiaries of Sun. For further discussion of the Company’s tenant and revenue concentration, see “Note 15. Commitments and Contingencies—Concentration of Credit Risk.”
As of December 31, 2011, the future minimum rental income from the Company’s properties under non-cancelable operating leases is as follows (in thousands):
 
 
2012
$
94,632

2013
94,632

2014
94,632

2015
94,632

2016
94,632

Thereafter
643,085

 
 
 
$
1,116,245