ASSETS HELD FOR SALE (Tables)

12 Months Ended

Dec. 31, 2018

The following is a summary of our assets held for sale:


	Properties Held For Sale
	Number of	Net Book Value
	Properties	(in thousands)
December 31, 2016	20	$	52,868
Properties sold/other (1)	(17)		(39,299)
Properties added (2)	19		73,130
December 31, 2017	22		86,699
Properties sold/other (3)	(48)		(171,938)
Properties added (4)	29		86,228
December 31, 2018 (5)	3	$	989

(1)

In 2017, we sold 13 SNFs and three ALFs for approximately $38.8 million in net proceeds recognizing a gain on sale of approximately $4.3 million. One SNF classified as an asset held for sale at December 31, 2016 was no longer considered held for sale during the first quarter of 2017 and was reclassified back to leased properties at approximately $5.1 million which represents the facility’s then carrying value adjusted for depreciation that was not recognized while classified as held for sale.

(2)

In 2017, we reclassified one ALF, one specialty facility and 17 SNFs to assets held for sale. We recorded approximately $10.3 million of impairment charges to reduce one ALF, one specialty facility and three SNFs to their estimated fair value less costs to sell before they were reclassified to assets held for sale.

(3)

In 2018, we sold 48 facilities for approximately $133.6 million in net proceeds recognizing a gain on sale of approximately $11.5 million.

(4)

In 2018, we recorded approximately $13.0 million of impairments to reduce 26 facilities and one ancillary building's book value to their estimated fair values less costs to sell before they were reclassified to assets held for sale.

(5)

We plan to sell the facilities classified as held for sale at December 31, 2018 within the next twelve months.