Subsequent Events

6 Months Ended

Jun. 30, 2020

Subsequent Events

Subsequent Events

12. Subsequent Events

Subsequent to June 30, 2020 the following events occurred:

Real Estate: We consolidated our four leases with Brookdale into one master lease and extended the term by one year to December 31, 2021. The master lease provides three renewal options consisting of a four-year renewal option, a five-year renewal option and a 10-year renewal option. The notice period for the first renewal option is January 1, 2021 to April 30, 2021. The economic terms of rent remain the same as the consolidated rent terms under the previous four separate lease agreements.

Notes Receivable: We received $2,569,000 related to the partial paydown of a mezzanine loan.

Equity: We declared a monthly cash dividend of $0.19 per share on our common stock for the months of July, August and September 2020, payable on July 31, August 31, and September 30, 2020, respectively to stockholders of record on July 23, August 21, and September 22, 2020, respectively.