Dispositions and Assets Held for Sale

6 Months Ended

Jun. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

We periodically sell properties for various reasons, including favorable market conditions, the exercise of tenant purchase options or reduction of concentrations (i.e., property type, relationship or geography). At June 30, 2019, 55 Seniors Housing Operating, 30 Triple-net, and four Outpatient Medical properties with an aggregate real estate balance of $1,704,206,000 were classified as held for sale. In addition, secured debt of $37,429,000 and net other assets and liabilities of $58,816,000 related to the held for sale properties. During the six months ended June 30, 2019, we recorded net impairment charges of $9,939,000 on certain held for sale properties for which the carrying value exceeded the fair values, less estimated costs to sell, if applicable. The following is a summary of our real property disposition activity for the periods presented (in thousands):



	Six Months Ended June 30,
	2019			2018
Real estate dispositions:
Seniors Housing Operating	$	8,726		$	2,200
Triple-net	442,865			367,978
Outpatient Medical	—			223,069
Total dispositions	451,591			593,247
Gain (loss) on real estate dispositions, net	165,727			348,939
Net other assets/liabilities disposed	(498		)	5,032
Proceeds from real estate dispositions	$	616,820		$	947,218

Dispositions and Assets Held for Sale

Pursuant to our adoption of ASU 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity”, operating results attributable to properties sold subsequent to or classified as held for sale after January 1, 2014 and which do not meet the definition of discontinued operations are no longer reclassified on our Consolidated Statements of Comprehensive Income. The following represents the activity related to these properties for the periods presented (in thousands):



	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
Revenues:
Total revenues	$	112,694	$	121,079	$	228,441	$	249,639
Expenses:
Interest expense	479		579		983		1,200
Property operating expenses	70,244		74,213		146,260		150,120
Provision for depreciation	12,520		18,431		24,897		38,275
Total expenses	83,243		93,223		172,140		189,595
Income (loss) from real estate dispositions, net	$	29,451	$	27,856	$	56,301	$	60,044