Real Estate Investments, Net (Tables)

12 Months Ended

Dec. 31, 2018

Real Estate [Abstract]

Summary of Investment in Owned Properties

The following table summarizes the Company’s investment in owned properties at December 31, 2018 and December 31, 2017 (dollars in thousands):

	December 31, 2018			December 31, 2017
Land	$	166,948		$	151,879
Buildings and improvements	1,201,209			1,114,605
Integral equipment, furniture and fixtures	87,623			80,729
Identified intangible assets	2,382			2,382
Real estate investments	1,458,162			1,349,595
Accumulated depreciation and amortization	(241,925		)	(197,334		)
Real estate investments, net	$	1,216,237		$	1,152,261

Schedule of Total Future Minimum Rental Revenues

As of December 31, 2018, total future minimum rental revenues for the Company’s tenants were (dollars in thousands):

Year	Amount
2019	$	146,010
2020	146,560
2021	147,132
2022	147,719
2023	148,169
Thereafter	1,055,012
	$	1,790,602

Schedule of Acquisitions

The following table summarizes the Company’s acquisitions for the year ended December 31, 2018 (dollar amounts in thousands):

Type of Property	Purchase Price(1)			Initial Annual Cash Rent		Number of Properties		Number of Beds/Units(2)
Skilled nursing	$	85,814		$	7,715	10		926
Multi-service campuses	27,520		(3)	2,240		2		177
Assisted living	—			—		—		—
Total	$	113,334		$	9,955	$	12	1,103

(1) Purchase price includes capitalized acquisition costs.

(2) The number of beds/units consists of operating beds at acquisition date.

(3) The Company has committed to fund approximately $1.4 million in revenue-producing capital expenditures over the next 24 months based on the in-place lease yield, which is included in the purchase price.