RECENT REAL ESTATE ACQUISITIONS (CONSOLIDATED)

3 Months Ended

Mar. 31, 2024

Business Combination and Asset Acquisition [Abstract]

RECENT REAL ESTATE ACQUISITIONS (CONSOLIDATED)

No acquisitions were completed during the three months ended March 31, 2024. During the three months ended March 31, 2023, the Company acquired one Senior Housing - Leased community and one Senior Housing - Managed community that was part of the Company’s proprietary development pipeline and was previously reflected as a preferred equity investment which had a book value of $4.6 million at the time of acquisition. The consideration was allocated as follows (in thousands):


	Three Months Ended March 31, 2023

Land	$	3,415
Building and improvements	45,333
Tenant origination and absorption costs intangible assets	2,706
Tenant relationship intangible assets	20
Total consideration	$	51,474

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 one year and 22 years, respectively, for the acquisitions completed during the three months ended March 31, 2023.

For the three months ended March 31, 2023, the Company recognized $1.7 million of total revenues and $0.2 million of net income from the facilities acquired during the three months ended March 31, 2023.