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Subsequent Events
3 Months Ended
Mar. 31, 2016
Subsequent Events [Abstract]  
Subsequent Events
SUBSEQUENT EVENTS
The Company evaluates subsequent events in accordance with ASC 855, Subsequent Events. The Company evaluates subsequent events up until the date the condensed consolidated financial statements are issued.
In April 2016, the Company acquired Victory Park Nursing Home, a 55-bed skilled nursing facility, and Victoria Retirement Community, a skilled nursing and assisted living campus with 90 skilled nursing beds and 69 assisted living beds, both located in Cincinnati, Ohio, for approximately $15.2 million, inclusive of estimated transaction costs, and intends to account for this investment as an asset acquisition. In connection with the acquisition, the Company amended its triple-net master lease with Pristine Senior Living. The Company anticipates additional initial annual lease revenues of approximately $1.4 million following this acquisition.
In May 2016, the Company acquired Shaw Mountain at Cascadia, a 98-bed skilled nursing facility located in Boise, Idaho, for approximately $8.9 million, inclusive of estimated transaction costs, and intends to account for this investment as an asset acquisition. In connection with the acquisition, the Company entered into a triple-net master lease with Cascadia Healthcare, LLC. The Company anticipates initial annual lease revenues of approximately $0.9 million following this acquisition.
In May 2016, the Company acquired English Meadows Elks' Home, a 175-unit independent and asisted living campus located in Bedford, Virginia, for approximately $10.0 million, inclusive of estimated transaction costs, and intends to account for this investment as an asset acquisition. In connection with the acquisition, the Company amended its triple-net master lease with Twenty/20 Management, Inc. The Company anticipates additional initial annual lease revenues of approximately $0.8 million following this acquisition.
In May 2016, the Company acquired Croatan Village, a 46-unit assisted living and memory care facility located in New Bern, North Carolina, and Countryside Village, a 21-unit memory care facility located in Pikeville, North Carolina, for approximately $11.8 million, inclusive of estimated transaction costs, and intends to account for this investment as an asset acquisition. In connection with the acquisition, the Company entered into a triple-net master lease with Premier Senior Living, LLC. The Company anticipates initial annual lease revenues of approximately $1.0 million following this acquisition.