Leases (Tables)

9 Months Ended

Sep. 30, 2024

Leases

Schedule of Properties Own and Leased Information

The following table provides additional information regarding the properties owned/leased by the Company for the periods indicated:

	September 30,			December 31,
	2024			2023
Cumulative number of facilities (properties)		114 (104	)		107 (97	)
Cumulative number of licensed beds		12,889			12,201

Schedule of Additional Information on Properties Facilities Leased

The following table provides additional information regarding the facilities leased by the Company as of September 30, 2024:

State	Number of Operational Beds/Units		Owned by Company		Leased by Company		Total
Arkansas		1,568		14		-		14
Illinois		4,226		20		-		20
Indiana		3,318		39		1		40
Kentucky		1,163		11		-		11
Michigan		100		1		-		1
Ohio		238		4		-		4
Oklahoma		137		2		-		2
Tennessee		1,412		16		-		16
Texas		727		6		-		6
Total Facilities		12,889		113		1		114
Facility Type
Skilled Nursing Facilities		12,528		102		1		103
Long-Term Acute Care Hospitals		63		2		-		2
Assisted Living Facility		298		9		-		9
Total facilities		12,889		113		1		114

Schedule of Future Minimum Rental Revenues

As of September 30, 2024, total future minimum rental revenues for the Company’s tenants are as follows:

Year	Amount
(Amounts in $000s)
2024 (three month period)	$	25,068
2025		98,251
2026		89,264
2027		90,569
2028		87,446
Thereafter		342,614
Total	$	733,212

Schedule of Property Leases to Third Parties

The following table provides summary information regarding the number of operational beds associated with a property leased by the Company and subleased to third-party operators:

	September 30,		December 31,
	2024		2023
Number of facilities leased and subleased to third parties		1		1
Number of operational beds		68		68

Schedule of Components of Lease Expense

The components of lease expense and other lease information are as follows (dollars in thousands):

	Nine Month Period ended September 30,				Three Month Period ended September 30,
	2024		2023		2024		2023
Operating lease cost	$	564		296		180		99

	September30, 2024			December 31, 2023
Operating lease right of use asset	$	1,290		$	1,542
Operating lease liability	$	1,290		$	1,542
Weighted average remaining lease term-operating leases (in years)		3.3			4.25
Weighted average discount rate		4.1	%		4.1	%

Schedule of Future Minimum Lease Payments On Non-Cancellable Leases

Future minimum operating lease payments under non-cancellable leases as of September 30, 2024, reconciled to the Company’s operating lease liability presented on the condensed consolidated balance sheets are:

	(Amounts in $’000s)
2024 (three month period)	$	99
2025		397
2026		397
2027		397
2028		100
Total	$	1,390
Less Interest		(100	)
Total operating lease liability	$	1,290