Credit Concentration

3 Months Ended

Mar. 31, 2022

Risks and Uncertainties [Abstract]

Credit Concentration

Credit Concentration

We use consolidated net operating income (“NOI”) as our credit concentration metric. See Note 18 for additional information and reconciliation. The following table summarizes certain information about our credit concentration for the three months ended March 31, 2022, excluding our share of NOI in unconsolidated entities (dollars in thousands):

Concentration by relationship: (1)	Number of Properties	Total NOI		Percent of NOI (2)
ProMedica (3)	205	$	61,084	11%
Sunrise Senior Living	110	30,467		6%
Atria Senior Living	96	28,745		5%
HC-One Group (4)	1	23,872		4%
Avery Healthcare	61	19,901		4%
Remaining portfolio	1,190	377,966		70%
Totals	1,663	$	542,035	100%

(1) ProMedica and HC-One Group are in our Triple-net segment. Sunrise Senior Living and Atria Senior Living are in our Seniors Housing Operating segment. Avery Healthcare is in both the Triple-net and Seniors Housing Operating segments.

(2) NOI with our top five relationships comprised 34% of total NOI for the year ended December 31, 2021.

(3) During the quarter ended March 31, 2022, we purchased an additional 5% ownership interest in the consolidated ProMedica joint ventures for $137,437,000.

(4) In addition to the one property, HC-One Group is the borrower on a £540,000,000 loan.