Credit Concentration

12 Months Ended

Dec. 31, 2015

8. Credit Concentration

We use net operating income from continuing operations (“NOI”) as our credit concentration metric. See Note 17 for additional information and reconciliation. The following table summarizes certain information about our credit concentration for the year ended December 31, 2015, excluding our share of NOI in unconsolidated entities (dollars in thousands):


		Number of	Total		Percent of
Concentration by relationship:⁽¹⁾		Properties	NOI		NOI⁽²⁾
	Genesis Healthcare	187	$	371,170	17%
	Sunrise Senior Living⁽³⁾	148		299,697	13%
	Brookdale Senior Living	148		166,792	7%
	Revera	97		109,778	5%
	Benchmark Senior Living	50		98,887	4%
	Remaining portfolio	796		1,191,245	54%
	Totals	1,426	$	2,237,569	100%

	(1) Genesis Healthcare is in our triple-net segment. Sunrise Senior Living and Revera are in our seniors housing operating segment. Brookdale Senior Living and Benchmark Senior Living are in both our triple-net and seniors housing operating segments.
	(2) Investments with our top five relationships comprised 49% of NOI in 2014.
	(3) For the year ended December 31, 2015, we recognized $948,347,000 of revenue from Sunrise Senior Living.