REAL ESTATE INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2014

Real Estate Investments, Net [Abstract]

Schedule of Real Estate Properties

The Company’s real estate properties held for investment consisted of the following (dollars in thousands):

As of December 31, 2014

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	103	11,336	$	851,252	$	(151,978	)	$	699,274
Senior Housing	55	5,258	804,475		(22,487		)	781,988
Acute Care Hospitals	2	124	175,807		(11,324		)	164,483
	160	16,718	1,831,534		(185,789		)	1,645,745
Corporate Level			265		(205		)	60
			$	1,831,799	$	(185,994	)	$	1,645,805

As of December 31, 2013

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	96	10,826	$	737,188	$	(132,068	)	$	605,120
Senior Housing	23	1,518	153,247		(13,337		)	139,910
Acute Care Hospitals	2	124	175,807		(5,520		)	170,287
	121	12,468	1,066,242		(150,925		)	915,317
Corporate Level			254		(153		)	101
			$	1,066,496	$	(151,078	)	$	915,418

	December 31, 2014			December 31, 2013
Building and improvements	$	1,551,548		$	879,926
Furniture and equipment	82,812			50,567
Land improvements	3,646			4,392
Land	193,793			131,611
	1,831,799			1,066,496
Accumulated depreciation	(185,994		)	(151,078		)
	$	1,645,805		$	915,418

Schedule of Future Minimum Rental Payments Receivable for Operating Leases

As of December 31, 2014, the future minimum rental payments from the Company’s properties under non-cancelable operating leases was as follows (in thousands):

2015	$	175,839
2016	180,879
2017	185,729
2018	190,587
2019	196,137
Thereafter	1,236,968
	$	2,166,139