Acquisition of Citizens Homes (Tables)

3 Months Ended

Mar. 31, 2015

Business Combinations [Abstract]

Schedule of Business Acquisitions by Acquisition, Contingent Consideration

The change in estimated fair value of the contingent consideration consisted of the following (in thousands):

Contingent Consideration - December 31, 2014	$	3,902
Fair value adjustment for the three months ended March 31, 2015	(157		)
Contingent consideration - March 31, 2015	$	3,745

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the calculation of the preliminary estimated fair value of the assets and liabilities assumed at the acquisition date (in thousands):

	Adjusted Total as of Acquisition Date
Assets Acquired
Real estate	$	13,832
Other assets	$	1,363
	15,195
Less: Liabilities assumed	$	1,510
Net assets acquired	13,685
Goodwill	$	4,223
Consideration transferred	$	17,908

Business Acquisition, Pro Forma Information

The pro forma financial information as presented below is for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition was completed as of January 1, 2013, or indicative of the results that will be attained in the future (in thousands, except per share data):

	Three Months Ended
	March 31, 2014
Total revenues and other income	$	71,175
Net loss	$	(12,925	)
Net loss per common share – basic and diluted:	$	(0.57	)