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REAL ESTATE PROPERTIES HELD FOR INVESTMENT (Tables)
 9 Months Ended
Sep. 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 September 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

 
$
3,711,702

 
$
(285,138
)
 
$
3,426,564

Senior Housing - Leased (1)
 
62

 
4,011

 
636,273

 
(72,716
)
 
563,557

Senior Housing - Managed (1)
 
44

 
4,470

 
863,130

 
(101,426
)
 
761,704

Specialty Hospitals and Other
 
24

 
1,193

 
635,928

 
(43,146
)
 
592,782

 
 
434

 
43,553

 
5,847,033

 
(502,426
)
 
5,344,607

Corporate Level
 
 
 
 
 
741

 
(351
)
 
390

 
 
 
 
 
 
$
5,847,774

 
$
(502,777
)
 
$
5,344,997

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 nine months ended September 30, 2019, the Company transitioned 21 senior housing communities to its Senior Housing - Managed portfolio.
 
September 30, 2019
 
December 31, 2018
Building and improvements
$
5,018,346

 
$
5,388,102

Furniture and equipment
235,762

 
237,145

Land improvements
1,415

 
1,254

Land
592,251

 
629,382

 
5,847,774

 
6,255,883

Accumulated depreciation
(502,777
)
 
(402,338
)
 
$
5,344,997

 
$
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 and may materially differ from actual future rental payments received (in thousands):
As of September 30, 2019
October 1 through December 31, 2019
$
109,663

2020
425,610

2021
422,465

2022
398,608

2023
381,472

Thereafter
2,023,764

 
$
3,761,582

 
 
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