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REAL ESTATE PROPERTIES HELD FOR INVESTMENT (Tables)
 12 Months Ended
Dec. 31, 2017
Real Estate Investments, Net [Abstract]  
Real Estate Properties Held for Investment
The Company’s real estate properties held for investment consisted of the following (dollars in thousands):
As of December 31, 2017  
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
 
384

 
43,223

 
$
4,364,387

 
$
(209,039
)
 
$
4,155,348

Senior Housing - Leased (1)
 
88

 
8,137

 
1,166,687

 
(102,370
)
 
1,064,317

Senior Housing - Managed (1)
 
13

 
1,113

 
189,120

 
(12,125
)
 
176,995

Specialty Hospitals and Other
 
22

 
1,085

 
614,068

 
(16,620
)
 
597,448

 
 
507

 
53,558

 
6,334,262

 
(340,154
)
 
5,994,108

Corporate Level
 
 
 
 
 
593

 
(269
)
 
324

 
 
 
 
 
 
$
6,334,855

 
$
(340,423
)
 
$
5,994,432

As of December 31, 2016
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
 
97

 
10,819

 
$
1,042,754

 
$
(190,038
)
 
$
852,716

Senior Housing - Leased (1)
 
83

 
7,855

 
1,153,739

 
(80,449
)
 
1,073,290

Senior Housing - Managed (1)
 
2

 
134

 
34,212

 
(1,682
)
 
32,530

Specialty Hospitals and Other
 
1

 
70

 
61,640

 
(10,387
)
 
51,253

 
 
183

 
18,878

 
2,292,345

 
(282,556
)
 
2,009,789

Corporate Level
 
 
 
 
 
406

 
(256
)
 
150

 
 
 
 
 
 
$
2,292,751

 
$
(282,812
)
 
$
2,009,939

(1) 
During the year ended December 31, 2017, the Company transitioned nine senior housing communities into a managed property structure whereby the Company owns the operations of the communities and the communities are operated by a third-party property manager.
 
December 31, 2017
 
December 31, 2016
Building and improvements
$
5,449,415

 
$
1,983,769

Furniture and equipment
232,889

 
85,196

Land improvements
3,456

 
3,744

Land
649,095

 
220,042

 
6,334,855

 
2,292,751

Accumulated depreciation
(340,423
)
 
(282,812
)
 
$
5,994,432

 
$
2,009,939
Summary of Revenue by External Customers
The following table provides information regarding significant tenant relationships representing 10% or more of the Company’s total revenues for the year ended December 31, 2017 (dollars in thousands):
 
 
As of December 31, 2017
 
For the year ended December 31, 2017
 
 
Number of Investments
 
% of Total Assets
 
% of Total Investments (1)
 
% of Total Revenues
Genesis Healthcare, Inc.
 
54

 
3.5
%
 
5.9
%
 
19.8
%
Future Minimum Rental Payments from Non-Cancelable Operating Leases
As of December 31, 2017, the future minimum rental payments from the Company’s properties held for investment under non-cancelable operating leases was as follows (in thousands):
2018
$
559,864

2019
569,288

2020
560,252

2021
558,362

2022
552,610

Thereafter
2,928,902

 
$
5,729,278