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REAL ESTATE PROPERTIES HELD FOR INVESTMENT (Tables)
 6 Months Ended
Jun. 30, 2019
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 June 30, 2019
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
 
304

 
33,879

 
$
3,712,541

 
$
(259,872
)
 
$
3,452,669

Senior Housing - Leased (1)
 
62

 
4,011

 
646,092

 
(70,563
)
 
575,529

Senior Housing - Managed (1)
 
44

 
4,470

 
863,341

 
(94,969
)
 
768,372

Specialty Hospitals and Other
 
22

 
1,085

 
621,236

 
(39,226
)
 
582,010

 
 
432

 
43,445

 
5,843,210

 
(464,630
)
 
5,378,580

Corporate Level
 
 
 
 
 
634

 
(340
)
 
294

 
 
 
 
 
 
$
5,843,844

 
$
(464,970
)
 
$
5,378,874

As of December 31, 2018
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
 
335

 
37,628

 
$
4,094,484

 
$
(224,942
)
 
$
3,869,542

Senior Housing - Leased (1)
 
90

 
7,332

 
1,237,790

 
(125,902
)
 
1,111,888

Senior Housing - Managed (1)
 
23

 
1,603

 
301,739

 
(19,537
)
 
282,202

Specialty Hospitals and Other
 
22

 
1,085

 
621,236

 
(31,640
)
 
589,596

 
 
470

 
47,648

 
6,255,249

 
(402,021
)
 
5,853,228

Corporate Level
 
 
 
 
 
634

 
(317
)
 
317

 
 
 
 
 
 
$
6,255,883

 
$
(402,338
)
 
$
5,853,545

(1) During the six months ended June 30, 2019, the Company transitioned 21 senior housing communities to its Senior Housing - Managed portfolio.
 
June 30, 2019
 
December 31, 2018
Building and improvements
$
5,017,138

 
$
5,388,102

Furniture and equipment
233,775

 
237,145

Land improvements
1,398

 
1,254

Land
591,533

 
629,382

 
5,843,844

 
6,255,883

Accumulated depreciation
(464,970
)
 
(402,338
)
 
$
5,378,874

 
$
5,853,545
Future Minimum Rental Payments Receivable for Properties Held for Investment Under Non-Cancelable Operating Leases
The future minimum rental payments from the Company’s properties held for investment under non-cancelable operating leases were as follows (in thousands):
As of June 30, 2019
July 1 through December 31, 2019
$
217,991

2020
423,770

2021
420,407

2022
396,598

2023
378,439

Thereafter
2,007,117

 
$
3,844,322

 
 
Future Minimum Rental Payments Receivable for Properties Held for Investment Under Non-Cancelable Operating Leases
As of December 31, 2018
2019
$
465,766

2020
456,207

2021
452,346

2022
454,216

2023
437,277

Thereafter
2,407,064

 
$
4,672,876