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Brookdale Lease Amendments and Terminations and the Formation of Two RIDEA Joint Ventures (“Brookdale Transaction”) (Tables)
 12 Months Ended
Dec. 31, 2014
Lease Amendments And Terminations And Joint Venture Formations Abstract  
Summary of quantitative information about fair value measurements for NNN Lease Restructuring and RIDEA Subsidiaries transactions (dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

    

Fair Value

    

Valuation Technique(s)

    

Valuation Inputs

    

Input Average or Range

 

NNN Lease Restructuring

 

 

 

 

 

 

 

 

 

 

Rental payment concessions by HCP

 

$
76,000 

 

Discounted Cash Flow

 

NNN Rent Coverage Ratio

 

1.20x

 

(benefiting Brookdale)

 

 

 

 

 

 

NNN Rent Growth Rate

 

3.0%

 

 

 

 

 

 

 

 

Discount Rate

 

8.00%-8.50%

 

Forfeited purchase options by

 

$
(129,000)

 

Discounted Cash Flow

 

Capitalization Rates

 

7.50%-9.25%

 

Brookdale (benefiting HCP)

 

 

 

 

 

 

Discount Rate

 

10.50%-11.00%

 

 

 

 

 

 

 

 

Exercise Probability

 

100.00%

 

RIDEA Subsidiaries

 

 

 

 

 

 

 

 

 

 

Forfeited rental payments by HCP

 

$
131,000 

 

Discounted Cash Flow

 

NNN Rent Coverage Ratio

 

1.20x

 

(benefiting Brookdale)

 

 

 

 

 

 

NNN Rent Growth Rate

 

3.0%

 

 

 

 

 

 

 

 

EBITDAR Growth Rate

 

5.5%

 

 

 

 

 

 

 

 

Discount Rate

 

8.00%-11.00%

 

Forfeited purchase options by

 

$
(23,000)

 

Discounted Cash Flow

 

Capitalization Rates

 

7.50%-9.25%

 

Brookdale (benefiting HCP)

 

 

 

 

 

 

Discount Rate

 

10.50%-11.00%

 

 

 

 

 

 

 

 

Exercise Probability

 

100.00%