Credit Concentration

12 Months Ended

Dec. 31, 2017

8. Credit Concentration

We use consolidated net operating income (“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, 2017, excluding our share of NOI in unconsolidated entities (dollars in thousands):


		Number of	Total		Percent of
Concentration by relationship:⁽¹⁾		Properties	NOI		NOI⁽²⁾
	Sunrise Senior Living⁽³⁾	158	$	315,409	14%
	Genesis HealthCare	86		190,506	9%
	Revera⁽³⁾	98		156,698	7%
	Brookdale Senior Living	137		151,026	7%
	Benchmark Senior Living	48		97,779	4%
	Remaining portfolio	759		1,321,298	59%
	Totals	1,286	$	2,232,716	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) NOI with our top five relationships comprised 45% of total NOI for the year ending December 31, 2016.
	(3) Revera owns a controlling interest in Sunrise Senior Living. For the year ended December 31, 2017, we recognized $1,032,562,000 of revenue from properties managed by Sunrise Senior Living.