XML 32 R22.htm IDEA: XBRL DOCUMENT

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS The Company evaluates subsequent events in accordance with ASC Topic 855, Subsequent Events. The Company evaluates subsequent events up until the date the condensed consolidated financial statements are issued. In August 2016, the Company acquired The Oaks at Petaluma, a 59-bed skilled nursing facility located in Petaluma, California, for approximately $6.9 million, which includes capitalized acquisition 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 West Harbor Healthcare, LLC. The Company anticipates initial annual lease revenues of approximately $0.7 million following this acquisition. In August 2016, the Company acquired four skilled nursing and assisted living properties located in California, for approximately $34.3 million, exclusive of estimated transaction costs, and intends to account for this investment as a business combination. The four properties are triple-net leased to Covenant Care. The Company anticipates initial annual lease revenues of approximately $3.1 million following this acquisition.