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ASSETS HELD FOR SALE, IMPAIRMENT OF REAL ESTATE AND DISPOSITIONS
 6 Months Ended
Jun. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]  
ASSETS HELD FOR SALE, IMPAIRMENT OF REAL ESTATE AND DISPOSITIONS ASSETS HELD FOR SALE, IMPAIRMENT OF REAL ESTATE AND DISPOSITIONS
Assets Held for Sale
As of June 30, 2022, the Company determined that three skilled nursing/transitional care facilities with an aggregate net book value of $22.9 million met the criteria to be classified as assets held for sale, and this balance is included in accounts receivable, prepaid expenses and other assets, net on the consolidated balance sheets. Subsequent to June 30, 2022, the Company completed the sale of one of the facilities for a gross sales price of $6.5 million.
Impairment of Real Estate
During the six months ended June 30, 2022, the Company recognized an $11.7 million real estate impairment related to the three skilled nursing/transitional care facilities classified as assets held for sale as of June 30, 2022 and one additional skilled nursing/transitional care facility.
To estimate the fair value of the impaired facilities, the Company utilized a market approach which considered binding sale agreements (Level 2 measurements), non-binding offers from unrelated third parties or model-derived valuations with significant unobservable inputs (Level 3 measurements), as applicable.
The Company continues to evaluate additional assets for sale as part of its initiative to recycle capital and further improve its portfolio quality. This could lead to a shorter hold period and could result in the determination that the full amount of the Company’s investment is not recoverable, resulting in an impairment charge which could be material.
Dispositions
The following table summarizes the Company’s dispositions for the periods presented (dollars in millions):
Six Months Ended June 30,
20222021
Number of facilities8 4
Consideration, net of closing costs$40.0 $11.3 
Net carrying value44.5 14.7 
Net loss on sale$(4.5)$(3.4)
Net loss$(3.2)$(1.8)
The sale of the disposition 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.