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Subsequent Events
12 Months Ended
Dec. 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 consolidated and combined financial statements are issued.

During January 2017, the Company sold 1.1 million shares of common stock at an average price of $15.46 per share for $16.6 million in gross proceeds. At February 3, 2017, the Company had $94.7 million available for future issuances under the ATM Program.
On February 1, 2017, the Company acquired Applewood of Brookfield, a 48 unit assisted living and memory care facility located in Brookfield, Wisconsin, and Applewood of New Berlin, a 40 unit assisted living and memory care facility located in New Berlin, Wisconsin, for $26.1 million, inclusive of capitalized acquisition costs, and intends to account for this investment as an asset acquisition. In connection with the acquisition, the Company amended its master lease with affiliates of Premier Senior Living, LLC. The Company anticipates additional initial annual lease revenues of $2.2 million following this acquisition.