Real Estate Investments, Net (Tables)

6 Months Ended

Jun. 30, 2019

Real Estate [Abstract]

Summary of Investment in Owned Properties

The following table summarizes the Company’s investment in owned properties as of June 30, 2019 and December 31, 2018 (dollars in thousands):

	June 30, 2019			December 31, 2018
Land	$	197,510		$	166,948
Buildings and improvements	1,453,944			1,201,209
Integral equipment, furniture and fixtures	95,476			87,623
Identified intangible assets	1,400			2,382
Real estate investments	1,748,330			1,458,162
Accumulated depreciation and amortization	(266,290		)	(241,925		)
Real estate investments, net	$	1,482,040		$	1,216,237

Schedule of Total Future Minimum Rental Revenues

As of June 30, 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 (six months)	$	86,806
2020	173,965
2021	174,423
2022	174,899
2023	175,232
2024	175,492
Thereafter	1,132,935
	$	2,093,752

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 six months ended June 30, 2019 (dollars in thousands):

Type of Property	Purchase Price(1)		Initial Annual Cash Rent(2)		Number of Properties	Number of Beds/Units(3)
Skilled nursing	$	246,099	$	22,129	16	2,029
Multi-service campuses	45,176		4,088		3	542
Assisted living	—		—		—	—
Total	$	291,275	$	26,217	19	2,571

(1) Purchase price includes capitalized acquisition costs.

(2) Initial annual cash rent excludes ground lease income.

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