RECENT REAL ESTATE ACQUISITIONS (CONSOLIDATED)

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

RECENT REAL ESTATE ACQUISITIONS (CONSOLIDATED)

During the year ended December 31, 2022, the Company acquired three Senior Housing - Managed communities and one behavioral health facility. Two of the investments were part of the Company’s proprietary development pipeline and were previously reflected as preferred equity investments which had an aggregate book value of $14.3 million at the time of acquisition. During the year ended December 31, 2021, the Company acquired two Senior Housing - Managed communities, one Senior Housing - Leased community, two behavioral health facilities and land to develop one skilled nursing/transitional care facility. The consideration was allocated as follows (in thousands):


	Year Ended December 31,
	2022		2021
Land	$	11,767	$	5,465
Building and improvements	89,646		90,692
Tenant origination and absorption costs intangible assets	5,061		3,097
Tenant relationship intangible assets	41		194
Total consideration	$	106,515	$	99,448

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 25 years, respectively, for acquisitions completed during the year ended December 31, 2022. 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 four years and 23 years, respectively, for acquisitions completed during the year ended December 31, 2021.

For the year ended December 31, 2022, the Company recognized $11.1 million and $1.6 million of total revenues and net loss, respectively, from the facilities acquired during the year ended December 31, 2022. For the year ended December 31, 2021, the Company recognized $8.7 million and $0.7 million of total revenues and net income, respectively, from the facilities acquired during the year ended December 31, 2021.