XML 48 R36.htm IDEA: XBRL DOCUMENT v3.5.0.2
Real Estate (Narrative) (Details)
3 Months Ended 9 Months Ended
Sep. 30, 2016
USD ($)
Master_Leases
Sep. 30, 2015
USD ($)
Sep. 30, 2016
USD ($)
Master_Leases
properties
Sep. 30, 2015
USD ($)
Sep. 30, 2016
properties
Sep. 30, 2016
Sep. 30, 2016
shares
Sep. 30, 2016
beds_or_units
Sep. 30, 2016
USD ($)
Sep. 30, 2016
renewalOptions
Dec. 31, 2015
USD ($)
Equity Method Investments                 $ 0   $ 7,657,000
Number of Real Estate Properties | properties         196            
Change in accounts payable related to acquisition of non-controlling interest     $ 10,546,000 $ 0              
Nonportfolio Assets, Original Cost                 1,152,000    
Real Estate Investment Property, Portfolio Assets                 2,392,524,000    
Number of Lessees           27          
Payments to Acquire Real Estate     288,965,000 104,066,000              
Non-cash write-off of straight-line rent receivable     15,856,000 0              
Settlement Of Mortgage Note By Real Estate Acquisition     9,753,000 255,000              
Real Estate Investments Completed During The Period     321,163,000                
Operating Leases, Income Statement, Lease Revenue $ 59,272,000 $ 54,459,000 171,374,000 159,624,000              
Straight Line Rent     16,583,000 18,492,000              
Gain on sale of real estate 0 1,126,000 4,582,000 1,126,000              
Payments for Capital Improvements     913,000 2,757,000              
Real Estate Held-for-sale                 0   $ 1,346,000
Watermark Retirement Communities [Member]                      
Payments to Acquire Real Estate     56,300,000                
Payments To Acquire Real Estate, Lease Deposit     $ 4,500,000                
Number of Units in Real Estate Property | beds_or_units               460      
Lessor Leasing Arrangements, Operating Leases, Term of Contract     15 years                
Development in Process                 747,000    
Purchase Option, Open Period, Begin, Lease or Note Year     6 years                
Initial lease rate           7.00%          
Real Estate Investments Completed During The Period     $ 66,300,000                
Lease Escalator Rate Lease Year 2 to Lease Year 4           3.50%          
Lease Escalator Rate after Lease Year 4           3.00%          
Number Of Real Estate Properties Acquired | properties     2                
Capital Improvements Commitment                 10,000,000    
Capital Improvement Commitment, Period, Years     2 years                
The Ensign Group [Member]                      
Number of Real Estate Properties | properties         15            
Payments to Acquire Real Estate     $ 118,500,000                
Number of Units in Real Estate Property         245     931      
Lessor Leasing Arrangements, Operating Leases, Term of Contract     15 years                
Initial Lease Amount                 17,750,000    
Property Group, Original Investment, Net     $ 211,000,000                
Non-cash write-off of straight-line rent receivable     8,326,000                
Real Estate Acquisition, Value Allocated, Land     6,252,000                
Real Estate Acquisition, Value Allocated, Depreciable Assets     105,848,000                
Real Estate Investments Completed During The Period     $ 118,500,000                
Number Of Real Estate Properties Acquired | properties     8                
Number Of Additional Lease Renewal Options           2          
Lease Renewal Period In Years     5 years                
Indefinite-Lived Intangible Assets (Excluding Goodwill)                 6,400,000    
Asset Held For Sale, Agreed Selling Price                 24,600,000    
Number of Real Estate Properties, Held for Sale | properties         2            
Legend Senior Living [Member]                      
Number of Real Estate Properties | properties         9            
Real Estate Properties, Commitment To Purchase | properties         4            
Real Estate Properties, Commitment To Purchase, Amount                 56,000,000    
Legend Senior Living [Member] | Asset under Construction [Member]                      
Real Estate Properties, Commitment To Purchase | properties         3            
Village Concepts [Member]                      
Payments to Acquire Real Estate     $ 9,463,000                
Number of Units in Real Estate Property | beds_or_units               98      
Lessor Leasing Arrangements, Operating Leases, Term of Contract     15 years                
Asset Purchase Transaction Costs     $ 213,000                
Initial lease rate           7.25%          
Capital Improvements Commitment                 350,000    
Payments for Capital Improvements     158,000                
Chancellor Healthcare [Member]                      
Development in Process                 52,000    
Real Estate Investments Completed During The Period     36,650,000                
Real Estate Transaction, Acquisition, Transaction Costs     $ 150,000                
Number Of Real Estate Properties Acquired | properties     2                
Capital Improvements Commitment                 650,000    
Chancellor Healthcare [Member] | August 2016 Acquisition [Member]                      
Lessor Leasing Arrangements, Operating Leases, Term of Contract     15 years                
Initial lease rate           7.50%          
Bickford Senior Living [Member]                      
Proceeds from Divestiture of Businesses and Interests in Affiliates     $ 8,100,000                
Equity Method Investments                 6,443,000    
Number of Real Estate Properties | properties         32            
Noncontrolling Interest in Operating Partnerships                 0.85    
Change in accounts payable related to acquisition of non-controlling interest     10,546,000                
Equity Method Investment, Realized Gain (Loss) on Disposal     1,657,000                
Payments to Acquire Additional Interest in Subsidiaries     25,100,000                
Payments to Acquire Real Estate     $ 77,747,000                
Number of Units in Real Estate Property | beds_or_units               277      
Lessor Leasing Arrangements, Operating Leases, Term of Contract     15 years                
Settlement Of Mortgage Note By Real Estate Acquisition     $ 9,753,000                
Initial lease rate           7.25%          
Note Receivable Interest Rate           9.00%          
Real Estate Investments Completed During The Period     89,900,000                
Operating Leases, Income Statement, Lease Revenue $ 8,528,000 $ 6,150,000 $ 21,999,000 $ 17,844,000              
Percentage of Continuing Revenue 13.00% 11.00% 12.00% 10.00%              
Number Of Real Estate Properties Acquired | properties     5                
Real Estate Purchase Price     $ 87,500,000                
Joint Venture Contributed Properties Ownership Interest Retained           85.00%          
Joint Venture Contributed Properties Ownership Interest Surrendered           15.00%          
Number Of Additional Lease Renewal Options | renewalOptions                   2  
Lease Renewal Period In Years     5 years                
Minimum Annual Lease Income     $ 26,260,000                
Lease Escalator, Percent           3.00%          
Number Of Development Projects Active | properties         5            
Capital Improvements Commitment                 2,400,000    
Bickford Senior Living [Member] | Future Development [Member]                      
Initial lease rate           9.00%          
Note Receivable Interest Rate           9.00%          
Real Estate Development Agreement, Minimum Yield     9.55%                
Bickford Senior Living [Member] | Asset under Construction [Member]                      
Number of Real Estate Properties | properties         4            
Bickford Senior Living [Member] | Opened July 2016 [Member]                      
Number Of Development Projects Active | properties         1            
Bickford Senior Living [Member] | Opened October 2016 [Member]                      
Number Of Development Projects Active | properties         2            
Bickford Senior Living [Member] | Expected To Open Early 2017 [Member]                      
Number Of Development Projects Active | properties         2            
Holiday Acquisition Holdings [Member]                      
Number of Real Estate Properties | properties         25            
Lessor Leasing Arrangements, Operating Leases, Term of Contract     17 years                
Lease Escalator Rate, From Lease Year 1 to Lease Year 3           4.50%          
Lease Escalator Rate, After Lease Year 3           3.50%          
Operating Leases, Income Statement, Lease Revenue $ 10,954,000 $ 10,954,000 $ 32,863,000 $ 32,863,000              
Percentage of Continuing Revenue 17.00% 19.00% 18.00% 19.00%              
Straight Line Rent $ 2,241,000 $ 2,616,000 $ 6,724,000 $ 7,849,000              
National Healthcare Corporation [Member]                      
Number of Real Estate Properties | properties         42            
Number of Master Leases | Master_Leases 2   2                
Operating Leases, Income Statement, Lease Revenue $ 9,270,000 $ 9,133,000 $ 28,357,000 $ 27,492,000              
Percentage of Continuing Revenue 15.00% 16.00% 15.00% 16.00%              
Lessor Equity Shares Owned, Significant Lessee | shares             1,630,462        
Percentage rent $ 733,000 $ 596,000 $ 2,746,000 $ 1,882,000              
National Healthcare Corporation [Member] | NHC - 1991 Lease [Member]                      
Number of Real Estate Properties | properties         35            
Number Of Additional Lease Renewal Options | renewalOptions                   2  
Lease Renewal Period In Years     5 years                
Percentage Rent Rate     0.04                
Minimum Annual Lease Income     $ 30,750,000                
National Healthcare Corporation [Member] | NHC - 2013 Lease [Member]                      
Number Of Real Estate Properties Acquired | properties     7                
Percentage Rent Rate     0.04                
Minimum Annual Lease Income     $ 3,450,000                
Purchase Option Amount                 $ 49,000,000    
Senior Living Communities [Member]                      
Number of Units in Real Estate Property               1,671 186    
Lessor Leasing Arrangements, Operating Leases, Term of Contract     15 years                
Lease Escalator Rate Lease Year 2 to Lease Year 4           4.00%          
Lease Escalator Rate after Lease Year 4           3.00%          
Operating Leases, Income Statement, Lease Revenue $ 9,855,000 $ 9,855,000 $ 29,566,000 $ 29,566,000              
Percentage of Continuing Revenue 16.00% 17.00% 16.00% 17.00%              
Number Of Real Estate Properties Acquired | properties     8                
Straight Line Rent $ 1,795,000 $ 2,105,000 $ 5,386,000 $ 6,316,000              
Number Of Additional Lease Renewal Options           2          
Lease Renewal Period In Years     5 years                
White Pine [Member]                      
Number of Units in Real Estate Property | beds_or_units               126      
Non-cash write-off of straight-line rent receivable     $ 1,131,000                
Proceeds from Rents Received     1,491,000                
Senior Housing Community [Member]                      
Number of Real Estate Properties | properties         124            
Skilled Nursing Facility [Member]                      
Number of Real Estate Properties | properties         67            
Gain on sale of real estate     $ 2,805,000                
Number Of Real Estate Properties Sold | properties     2                
Proceeds from Sale of Real Estate     $ 24,600,000                
Skilled Nursing Facility [Member] | National Healthcare Corporation [Member]                      
Number of Real Estate Properties | properties         39            
Skilled Nursing Facility [Member] | National Healthcare Corporation [Member] | Subleased Facilities [Member]                      
Number of Real Estate Properties | properties         4            
Hospital [Member]                      
Number of Real Estate Properties | properties         3            
Medical Office Building [Member]                      
Number of Real Estate Properties | properties         2            
Independent Living Facility [Member] | National Healthcare Corporation [Member]                      
Number of Real Estate Properties | properties         3            
Senior Living Campus [Member] | Watermark Retirement Communities [Member]                      
Number of Real Estate Properties | properties         2            
Assisted Living Facility [Member] | Watermark Retirement Communities [Member]                      
Number of Real Estate Properties | properties         1            
Vacant Land [Member]                      
Gain on sale of real estate     123,000                
Grangeville, ID [Member]                      
Gain on sale of real estate     $ 1,654,000                
Real Estate Held-for-sale                 $ 1,346,000    
Asset Held For Sale, Agreed Selling Price                 $ 3,000,000    
Iowa [Member] | Bickford Senior Living [Member]                      
Number of Real Estate Properties | properties         2