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DISPOSITIONS
9 Months Ended
Sep. 30, 2018
Discontinued Operations and Disposal Groups [Abstract]  
DISPOSITIONS
DISPOSITIONS
2018 Dispositions
During the nine months ended September 30, 2018, the Company completed the sale of 36 skilled nursing/transitional care facilities and four senior housing communities for aggregate consideration, net of closing costs, of $290.9 million. The net carrying value of the assets and liabilities of these facilities was $148.5 million, which resulted in an aggregate $142.4 million net gain on sale.
During the nine months ended September 30, 2018, the Company recognized a $1.4 million real estate impairment, of which $0.5 million related to one senior housing community sold during the period.
Excluding the net gain on sale and real estate impairment, the Company recognized $12.5 million and $24.9 million of net income during the nine months ended September 30, 2018 and 2017, respectively, from these facilities. The sale of these facilities does not represent a strategic shift that has or will have a major effect on the Company’s operations and financial results, and therefore the results of operations attributable to these facilities have remained in continuing operations.
2017 Dispositions
During the nine months ended September 30, 2017, the Company completed the sale of four skilled nursing/transitional care facilities for aggregate consideration, net of closing costs, of $11.7 million. The net carrying value of the assets and liabilities of these facilities was $7.1 million, which resulted in an aggregate $4.6 million net gain on sale.
Excluding the net gain on sale, the Company recognized $0.3 million of net income during the nine months ended September 30, 2017 from these facilities. The sale of these facilities does not represent a strategic shift that has or will have a major effect on the Company’s operations and financial results, and therefore the results of operations attributable to these facilities have remained in continuing operations.