XML 51 R33.htm IDEA: XBRL DOCUMENT v3.10.0.1
CCP MERGER AND RECENT REAL ESTATE ACQUISITIONS (Tables)
 12 Months Ended
Dec. 31, 2018
Business Combinations [Abstract]  
Purchase Price Allocation
During the year ended December 31, 2018, the Company acquired 11 Senior Housing - Managed communities, eight senior housing communities and two skilled nursing/transitional care facilities. During the year ended December 31, 2017, in addition to the properties acquired as a result of the CCP Merger, the Company acquired 22 skilled nursing/transitional care facilities and two senior housing communities. The consideration was allocated as follows (in thousands):
 
 
Year Ended December 31,
 
 
2018
 
2017
Land
 
$
29,712


$
58,771

Building and improvements
 
232,893

 
359,310

Tenant origination and absorption costs intangible assets
 
2,046

 
6,684

Tenant relationship intangible assets
 
677

 
2,053

Total consideration
 
$
265,328

 
$
426,818

The following table summarizes the purchase price allocation for the CCP Merger based on the Company’s valuation, including estimates and assumptions of the acquisition date fair value of the tangible and intangible assets acquired and liabilities assumed on August 17, 2017 (in thousands):
Real estate investments
$
3,727,310

Loans receivable and other investments
58,244

Cash and cash equivalents
77,859

Restricted cash
779

Lease intangible assets, net
145,786

Accounts receivable, prepaid expenses and other assets, net
35,873

Secured debt, net
(98,500
)
Revolving credit facility
(362,000
)
Unsecured term loans
(674,000
)
Senior unsecured notes, net
(616,873
)
Accounts payable and accrued liabilities
(134,802
)
Lease intangible liabilities, net
(102,643
)
Noncontrolling interests
(4,455
)
Total consideration
$
2,052,578