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CONCENTRATION OF RISK
12 Months Ended
Dec. 31, 2021
Concentration of Risk [Abstract]  
CONCENTRATION OF RISK

NOTE 13 - CONCENTRATION OF RISK

As of December 31, 2021, our portfolio of real estate investments (including properties associated with mortgages, direct financing leases, and assets held for sale) consisted of 960 healthcare facilities, located in 42 states and the U.K. and operated by 63 third-party operators. Our investment in these facilities, net of impairments and allowances, totaled approximately $10.1 billion at December 31, 2021, with approximately 98% of our real estate investments related to healthcare facilities.  Our portfolio is made up of (i) 685 SNFs, 133 ALFs, 20 ILFs, 16 specialty facilities, two MOBs, (ii) fixed rate mortgages on 59 SNFs, two ALFs and two specialty facilities, and (iii) 41 facilities that are held for sale. At December 31, 2021, we also held other investments of approximately $469.9 million, consisting primarily of secured loans to third-party operators of our facilities and $194.7 million of investment in six unconsolidated joint ventures.

At December 31, 2021, we had investments with two operators/or managers that approximated or exceeded 10% of our total investments: Maplewood and Consulate. Maplewood generated approximately 7.9%, 5.4% and 4.4% of our total revenues (excluding the impact of write-offs) for the years ended December 31, 2021, 2020 and 2019, respectively. Consulate generated approximately 9.5%, 9.4% and 3.6% of our total revenues (excluding the impact of write-offs) for the years ended December 31, 2021, 2020 and 2019, respectively.

At December 31, 2020, we had investments with one operator/or manager that exceeded 10% of our total investments: Ciena. Ciena generated approximately 9.3%, 9.9% and 10.5% of our total revenues (excluding the impact of write-offs) for the years ended December 31, 2021, 2020 and 2019, respectively.

At December 31, 2021, the three states in which we had our highest concentration of investments were Florida (15%), Texas (10%) and Michigan (6%).