Real Estate Investments, Net (Tables)

3 Months Ended

Mar. 31, 2019

Summary of Investment in Owned Properties

The following table summarizes the Company’s investment in owned properties as of March 31, 2019 and December 31, 2018 (dollars in thousands):



	March 31, 2019			December 31, 2018
Land	$	176,798		$	166,948
Buildings and improvements	1,243,331			1,201,209
Integral equipment, furniture and fixtures	90,656			87,623
Identified intangible assets	1,400			2,382
Real estate investments	1,512,185			1,458,162
Accumulated depreciation and amortization	(252,849		)	(241,925		)
Real estate investments, net	$	1,259,336		$	1,216,237

Schedule of Total Future Minimum Rental Revenues

As of March 31, 2019, the Company’s total future minimum rental revenues for all of its tenants, excluding operating expense reimbursements, were (dollars in thousands):



Year	Amount
2019 (nine months)	$	113,386
2020	151,591
2021	152,057
2022	152,541
2023	152,882
2024	153,150
Thereafter	988,982
	$	1,864,589

Schedule of Total Future Minimum Rental Revenues at Prior Year End

As of December 31, 2018, the Company’s total future minimum rental revenues for all of its tenants, excluding operating expense reimbursements, 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 Business Acquisitions

The following table summarizes the Company’s acquisitions for the three months ended March 31, 2019 (dollars in thousands):



Type of Property	Purchase Price⁽¹⁾		Initial Annual Cash Rent		Number of Properties	Number of Beds/Units⁽²⁾
Skilled nursing	$	43,938	$	3,983	4	492
Multi-service campuses	8,940		854		1	128
Assisted living	—		—		—	—
Total	$	52,878	$	4,837	5	620

(1) Purchase price includes capitalized acquisition costs.

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