Business Combinations (Tables)

12 Months Ended

Dec. 31, 2015

The following table presents the allocation of the assets acquired and liabilities assumed by the Company on October 15, 2015 (in thousands):



Assets acquired and liabilities assumed	October 15, 2015
Land	$	16,949
Buildings and improvements	120,414
Furniture, fixtures and equipment	12,706
Accounts payable and accrued expenses	(1,082		)
Total operating assets acquired, net	148,987
SN Term Loan	(96,850		)
Total assets acquired, net	$	52,137

The following table presents the preliminary allocation of the assets acquired and liabilities assumed by the Company on February 27, 2015 (in thousands):



Assets acquired and liabilities assumed	February 27, 2015
Land	$	274,478
Buildings and improvements	1,391,506
Below-market lease obligation, net	2,605
Furniture, fixtures and equipment	127,935
Prepaid expenses and other assets	6,678
Accounts payable and accrued expenses	(4,517		)
Total operating assets acquired, net	1,798,685
Seller financing of real estate investments	(1,351,282		)
Total assets acquired, net	$	447,403

Business Acquisition, Pro Forma Information

The following table below presents pro-forma financial information as if the Grace and Summit acquisitions had occurred on January 1, 2014 (in thousands). The pro-forma information excludes the impact of the Noble acquisitions, as the impact of the acquisitions on the consolidated financial statements was immaterial.

The unaudited pro-forma financial information is not necessarily indicative of what the actual results of operations would have been, assuming the acquisitions had occurred on January 1, 2014, nor does it purport to represent the Company's future results of operations.



Pro-forma	Year Ended December 31, 2015			Year Ended December 31, 2014
Revenues	$	539,163		$	500,882
Net income (loss)	$	(59,339	)	$	(30,811	)