Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2020

Accounting Policies [Abstract]

Reconciliation of Cash, Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents, and restricted cash as reported on the consolidated balance sheets to the total of such amounts as reported on the consolidated statements of cash flows (dollars in thousands):

	September 30, 2020 (Unaudited)		December 31, 2019
Cash and cash equivalents	$	72,305	$	41,884
Restricted cash	26,504		16,936
Total cash, cash equivalents and restricted cash	$	98,809	$	58,820

Schedule of Operating Real Estate Estimated Useful Life

Operating real estate is depreciated using the straight-line method over the estimated useful life of the assets, summarized as follows:

Category:	Term:
Building	30 to 50 years
Building improvements	Lesser of the useful life or remaining life of the building
Land improvements	9 to 15 years
Tenant improvements	Lesser of the useful life or remaining term of the lease
Furniture, fixtures and equipment	5 to 14 years

Schedule of Future Minimum Lease Payments for Capital Leases

The following table presents the future minimum lease payments under finance leases and the present value of the minimum lease payments, which are included in other liabilities on the Company’s consolidated balance sheets (dollars in thousands):

October 1 to December 31, 2020	$	174
Years Ending December 31:
2021	670
2022	577
2023	155
2024	59
Thereafter	26
Total minimum lease payments	$	1,661
Less: Amount representing interest	$	(135)
Present value of minimum lease payments	$	1,526

Summary of Deferred Costs and Intangible Assets

The following table presents deferred costs and intangible assets, net (dollars in thousands):

	September 30, 2020 (Unaudited)		December 31, 2019
Deferred costs and intangible assets, net:
In-place lease value, net	$	5,086	$	6,437
Goodwill	21,387		21,387
Certificate of need intangible assets	380		380
Subtotal intangible assets	26,853		28,204
Deferred costs, net	98		151
Total	$	26,951	$	28,355

Schedule of Deferred Costs and Intangible Assets, Future Amortization Expense

The following table presents future amortization of in-place lease value and deferred costs (dollars in thousands):

October 1 to December 31, 2020	$	468
Years Ending December 31:
2021	1,871
2022	593
2023	337
2024	337
Thereafter	1,578
Total	$	5,184

Schedule of Other Assets

The following table presents a summary of other assets (dollars in thousands):

	September 30, 2020 (Unaudited)		December 31, 2019
Other assets:
Healthcare facility regulatory reserve deposit(1)	$	—	$	6,000
Remainder interest in condominium units(2)	2,327		2,327
Prepaid expenses	4,547		3,841
Lease / rent inducements, net	2,065		1,636
Utility deposits	314		317
Other	308		368
Total	$	9,561	$	14,489

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(1)As of September 30, 2020, the Company is in possession of the regulatory reserve deposit and, accordingly, the amount totaling $6.0 million has been reclassified to restricted cash.

(2)Represents future interests in property subject to life estates.