RECENT REAL ESTATE ACQUISITIONS

6 Months Ended

Jun. 30, 2021

Business Combination and Asset Acquisition [Abstract]

During the six months ended June 30, 2021, the Company acquired two Senior Housing - Managed communities, one addiction treatment center and one skilled nursing/transitional care facility. During the six months ended June 30, 2020, the Company acquired three Senior Housing - Leased communities and one Senior Housing - Managed community that were part of the Company’s proprietary development pipeline, and $20.7 million was previously funded through its preferred equity investments in these developments. The consideration was allocated as follows (in thousands):


	Six Months Ended June 30,
	2021		2020
Land	$	3,610	$	5,800
Building and improvements	55,962		104,952
Tenant origination and absorption costs intangible assets	2,525		2,578
Tenant relationship intangible assets	10		347
Total consideration	$	62,107	$	113,677

The tenant origination and absorption costs intangible assets and tenant relationship intangible assets had weighted-average amortization periods as of the respective dates of acquisition of two years and 26 years, respectively, for acquisitions completed during the six months ended June 30, 2021, and seven years and 25 years, respectively, for acquisitions completed during the six months ended June 30, 2020.

For the three and six months ended June 30, 2021, the Company recognized $2.3 million and $2.7 million of total revenues, respectively, and $0.2 million and $0.3 million of net income, respectively, from the facilities acquired during the six months ended June 30, 2021. For the three and six months ended June 30, 2020, the Company recognized $3.4 million and $5.8 million of total revenues, respectively, and $1.4 million and $2.2 million of net income, respectively, from the facilities acquired during the six months ended June 30, 2020.