Summit Healthcare REIT 10-Q12 Aug 212021 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2021	Aug. 06, 2021
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	000-52566
Entity Registrant Name	Summit Healthcare REIT, Inc
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	73-1721791
Entity Address, Address Line One	2 SOUTH POINTE DRIVE, SUITE 100,
Entity Address, City or Town	LAKE FOREST
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92630
City Area Code	800
Local Phone Number	978-8136
Title of 12(b) Security	N/A
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		23,027,978
Entity Central Index Key	0001310383
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
No Trading Symbol Flag	true

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 21,026,000	$ 14,658,000
Restricted cash	3,002,000	2,933,000
Real estate properties, net	44,166,000	44,921,000
Notes receivable	139,000	262,000
Tenant and other receivables, net	3,351,000	4,677,000
Deferred leasing commissions, net	501,000	536,000
Other assets, net	880,000	1,203,000
Equity-method investments	7,821,000	11,375,000
Total assets	80,886,000	80,565,000
LIABILITIES AND EQUITY
Accounts payable and accrued liabilities	2,566,000	2,530,000
Security deposits	588,000	664,000
Loans payable, net of debt issuance costs	44,790,000	45,274,000
Total liabilities	47,944,000	48,468,000
Commitments and contingencies
Stockholders' Equity
Preferred stock, $0.001 par value; 10,000,000 shares authorized; no shares issued or outstanding at June 30, 2021 and December 31, 2020	0	0
Common stock, $0.001 par value; 290,000,000 shares authorized; 23,027,978 shares issued and outstanding at June 30, 2021 and December 31, 2020	23,000	23,000
Additional paid-in capital	116,382,000	116,335,000
Accumulated deficit	(83,663,000)	(84,456,000)
Total stockholders' equity	32,742,000	31,902,000
Noncontrolling interests	200,000	195,000
Total equity	32,942,000	32,097,000
Total liabilities and equity	$ 80,886,000	$ 80,565,000

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
CONDENSED CONSOLIDATED BALANCE SHEETS
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	290,000,000	290,000,000
Common stock, shares issued	23,027,978	23,027,978
Common stock, shares outstanding	23,027,978	23,027,978

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues:
Total rental revenues	$ 1,284,000	$ 1,604,000	$ 2,208,000	$ 3,204,000
Acquisition and asset management fees	295,000	292,000	624,000	618,000
Interest income from notes receivable	4,000	7,000	13,000	14,000
Total operating revenue	1,583,000	1,903,000	2,845,000	3,836,000
Expenses:
Property operating costs	210,000	213,000	430,000	470,000
General and administrative	862,000	848,000	2,493,000	1,787,000
Depreciation and amortization	393,000	418,000	792,000	835,000
Total operating expenses	1,465,000	1,479,000	3,715,000	3,092,000
Operating income (loss)	118,000	424,000	(870,000)	744,000
(Loss) income from equity-method investees	(550,000)	137,000	(785,000)	167,000
Gain on sale of equity-method investment	3,515,000	0	3,515,000	0
Other income	6,000	6,000	11,000	48,000
Interest expense	(516,000)	(630,000)	(1,038,000)	(1,223,000)
Net income (loss)	2,573,000	(63,000)	833,000	(264,000)
Noncontrolling interests' share in net (income) loss	(22,000)	(11,000)	(40,000)	(23,000)
Net income (loss) applicable to common stockholders	$ 2,551,000	$ (74,000)	$ 793,000	$ (287,000)
Basic:
Income (loss)	$ 0.11	$ 0	$ 0.03	$ (0.01)
Net income (loss) applicable to common stockholders	0.11	0	0.03	(0.01)
Diluted:
Income (loss)	0.11	0	0.03	(0.01)
Net income ( loss) applicable to common stockholders	$ 0.11	$ 0	$ 0.03	$ (0.01)
Weighted average shares used to calculate earnings per common share
Basic	23,027,978	23,027,978	23,027,978	23,027,978
Diluted	23,553,606	23,027,978	23,553,606	23,027,978

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total Stockholders' Equity [Member]	Noncontrolling Interests [Member]	Total
Balance at Dec. 31, 2019	$ 23,000	$ 116,184,000	$ (83,843,000)	$ 32,364,000	$ 200,000	$ 32,564,000
Balance (in shares) at Dec. 31, 2019	23,027,978
Stock-based compensation	$ 0	42,000	0	42,000	0	42,000
Distributions paid to noncontrolling interests	0	0	0	0	(12,000)	(12,000)
Net income (loss)	0	0	(213,000)	(213,000)	12,000	(201,000)
Balance at Mar. 31, 2020	$ 23,000	116,226,000	(84,056,000)	32,193,000	200,000	32,393,000
Balance (in shares) at Mar. 31, 2020	23,027,978
Balance at Dec. 31, 2019	$ 23,000	116,184,000	(83,843,000)	32,364,000	200,000	32,564,000
Balance (in shares) at Dec. 31, 2019	23,027,978
Net income (loss)						(264,000)
Balance at Jun. 30, 2020	$ 23,000	116,264,000	(84,130,000)	32,157,000	196,000	32,353,000
Balance (in shares) at Jun. 30, 2020	23,027,978
Balance at Mar. 31, 2020	$ 23,000	116,226,000	(84,056,000)	32,193,000	200,000	32,393,000
Balance (in shares) at Mar. 31, 2020	23,027,978
Stock-based compensation	$ 0	38,000	0	38,000	0	38,000
Distributions paid to noncontrolling interests	0	0	0	0	(15,000)	(15,000)
Net income (loss)	0	0	(74,000)	(74,000)	11,000	(63,000)
Balance at Jun. 30, 2020	$ 23,000	116,264,000	(84,130,000)	32,157,000	196,000	32,353,000
Balance (in shares) at Jun. 30, 2020	23,027,978
Balance at Dec. 31, 2020	$ 23,000	116,335,000	(84,456,000)	31,902,000	195,000	32,097,000
Balance (in shares) at Dec. 31, 2020	23,027,978
Stock-based compensation	$ 0	36,000	0	36,000	0	36,000
Distributions paid to noncontrolling interests	0	0	0	0	(16,000)	(16,000)
Net income (loss)	0	0	(1,758,000)	(1,758,000)	18,000	(1,740,000)
Balance at Mar. 31, 2021	$ 23,000	116,371,000	(86,214,000)	30,180,000	197,000	30,377,000
Balance (in shares) at Mar. 31, 2021	23,027,978
Balance at Dec. 31, 2020	$ 23,000	116,335,000	(84,456,000)	31,902,000	195,000	32,097,000
Balance (in shares) at Dec. 31, 2020	23,027,978
Net income (loss)						833,000
Balance at Jun. 30, 2021	$ 23,000	116,382,000	(83,663,000)	32,742,000	200,000	32,942,000
Balance (in shares) at Jun. 30, 2021	23,027,978
Balance at Mar. 31, 2021	$ 23,000	116,371,000	(86,214,000)	30,180,000	197,000	30,377,000
Balance (in shares) at Mar. 31, 2021	23,027,978
Stock-based compensation	$ 0	11,000	0	11,000	0	11,000
Distributions paid to noncontrolling interests	0	0	0	0	(19,000)	(19,000)
Net income (loss)	0	0	2,551,000	2,551,000	22,000	2,573,000
Balance at Jun. 30, 2021	$ 23,000	$ 116,382,000	$ (83,663,000)	$ 32,742,000	$ 200,000	$ 32,942,000
Balance (in shares) at Jun. 30, 2021	23,027,978

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net income (loss)	$ 833,000	$ (264,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization of debt issuance costs	34,000	55,000
Depreciation and amortization	792,000	835,000
Straight-line rents	494,000	(125,000)
Write-off of debt issuance costs	0	77,000
Stock-based compensation expense	47,000	80,000
Gain on sale of equity-method investment	(3,515,000)	0
Loss (income) from equity-method investees	785,000	(167,000)
Change in operating assets and liabilities:
Tenant and other receivables, net	501,000	411,000
Other assets	275,000	93,000
Accounts payable and accrued liabilities	83,000	(85,000)
Net cash provided by operating activities	329,000	910,000
Cash flows from investing activities:
Investment in equity-method investees	(123,000)	0
Proceeds from sale of equity-method investment	5,411,000	0
Distributions received from equity-method investees	1,250,000	640,000
Payments from notes receivable	123,000	185,000
Net cash provided by investing activities	6,661,000	825,000
Cash flows from financing activities:
Proceeds from issuance of loans payable	0	11,863,000
Payments of loans payable	(518,000)	(11,155,000)
Distributions paid to noncontrolling interests	(35,000)	(27,000)
Deferred financing costs	0	(656,000)
Net cash (used in) provided by financing activities	(553,000)	25,000
Net increase in cash, cash equivalents and restricted cash	6,437,000	1,760,000
Cash, cash equivalents and restricted cash - beginning of period	17,591,000	16,077,000
Cash, cash equivalents and restricted cash - end of period	24,028,000	17,837,000
Supplemental disclosure of cash flow information:
Cash paid for interest	$ 816,000	$ 960,000

Organization

Organization	6 Months Ended
Organization	Jun. 30, 2021
Organization
Organization	1. Organization Summit Healthcare REIT, Inc. (“Summit”) is a real estate investment trust that owns 100% of three properties, 95.3% of four properties, a 10% equity interest in an unconsolidated equity-method investment that holds 17 properties, a 35% equity interest in an unconsolidated equity-method investment that holds two properties, a 20% equity interest in an unconsolidated equity-method investment that holds two properties, a 10% equity interest in an unconsolidated equity-method investment that holds nine properties, and a 10% equity interest in an unconsolidated equity-method investment that holds six properties. In June 2021, we sold our 15% equity interest in an unconsolidated equity-method investment that held 14 properties. Summit is a Maryland corporation, formed in 2004 under the General Corporation Law of Maryland for the purpose of investing in and owning real estate. As used in these notes, the “Company”, “we”, “us” and “our” refer to Summit and its consolidated subsidiaries, including but not limited to Summit Healthcare Operating Partnership, L.P. (the “Operating Partnership”), except where the context otherwise requires. We conduct substantially all of our operations through the Operating Partnership, which is a Delaware limited partnership. We own a 99.88% general partner interest in the Operating Partnership, and Cornerstone Realty Advisors, LLC (“CRA”), a former affiliate, owns a 0.12% limited partnership interest. Summit and the Operating Partnership are managed and operated as one entity, and Summit has no significant assets other than its investment in the Operating Partnership. Summit, as the general partner of the Operating Partnership, controls the Operating Partnership and consolidates the assets, liabilities, and results of operations of the Operating Partnership. Therefore, the assets and liabilities of Summit and the Operating Partnership are the same. Cornerstone Healthcare Partners LLC – Consolidated Joint Venture We own 95% of Cornerstone Healthcare Partners LLC (“CHP LLC”), which was formed in 2012, and the remaining 5% noncontrolling interest is owned by Cornerstone Healthcare Real Estate Fund, Inc. (“CHREF”), an affiliate of CRA. CHP LLC is consolidated within our condensed consolidated financial statements and owns four properties (the “JV Properties”) with another partially owned subsidiary. As of June 30, 2021 and December 31, 2020, we own a 95.3%interest in the four JV Properties, and CHREF owns a 4.7% interest. Summit Union Life Holdings, LLC – Equity-Method Investment In April 2015, through our Operating Partnership, we entered into a limited liability company agreement with Best Years, LLC (“Best Years”), an unrelated entity and a U.S.-based affiliate of Union Life Insurance Co, Ltd. (a Chinese corporation), and formed Summit Union Life Holdings, LLC (the “SUL JV”). The SUL JV is not consolidated in our condensed consolidated financial statements and is accounted for under the equity-method. As of June 30, 2021 and December 31, 2020, we have a 10%interest in the SUL JV which owns 17 properties. Summit Fantasia Holdings, LLC – Equity-Method Investment In September 2016, through our Operating Partnership, we entered into a limited liability company agreement with Fantasia Investment III LLC (“Fantasia”), an unrelated entity and a U.S.-based affiliate of Fantasia Holdings Group Co., Limited (a Chinese corporation listed on the Stock Exchange of Hong Kong (HKEX)), and formed Summit Fantasia Holdings, LLC (the “Fantasia JV”). The Fantasia JV is not consolidated in our condensed consolidated financial statements and is accounted for under the equity-method. As of June 30, 2021 and December 31, 2020, we have a 35%interest in the Fantasia JV which owns two properties. Summit Fantasia Holdings II, LLC – Equity-Method Investment In December 2016, through our Operating Partnership, we entered into a limited liability company agreement with Fantasia, and formed Summit Fantasia Holdings II, LLC (the “Fantasia II JV”). The Fantasia II JV is not consolidated in our condensed consolidated financial statements and is accounted for under the equity-method. As of June 30, 2021 and December 31, 2020, we have a 20%interest in the Fantasia II JV which owns two properties. Summit Fantasia Holdings III, LLC– Equity-Method Investment In July 2017, through our Operating Partnership, we entered into a limited liability company agreement with Fantasia and formed Summit Fantasia Holdings III, LLC (the “Fantasia III JV”). The Fantasia III JV is not consolidated in our condensed consolidated financial statements and is accounted for under the equity-method. As of June 30, 2021 and December 31, 2020, we have a 10%interest in the Fantasia III JV which owns nine properties. Summit Fantasy Pearl Holdings, LLC– Equity-Method Investment In October 2017, through our Operating Partnership, we entered into a limited liability company agreement with Fantasia, Atlantis Senior Living 9, LLC, a Delaware limited liability company (“Atlantis”), and Fantasy Pearl LLC, a Delaware limited liability company (“Fantasy”), and formed Summit Fantasy Pearl Holdings, LLC (the “FPH JV”). The FPH JV is not consolidated in our condensed consolidated financial statements and is accounted for under the equity-method. As of June 30, 2021 and December 31, 2020, we have a 10%interest in the FPH JV which owns six properties. Indiana JV– Equity-Method Investment In June 2021, we sold our 15% interest in the Indiana JV for approximately $5.4 million. See Note 5 for further information. The Indiana JV was not consolidated in our condensed consolidated financial statements and was accounted for under the equity-method. As of June 30, 2021 and December 31, 2020, we have a 0% and 15% interest in the Indiana JV, respectively, which owned 14 properties. Summit Healthcare Asset Management, LLC (TRS) Summit Healthcare Asset Management, LLC (“SAM TRS”) is our wholly-owned taxable REIT subsidiary (“TRS”). We serve as the manager of the SUL JV, Fantasia JV, Fantasia II JV, Fantasia III JV, and FPH JV, and as the former operating member of the Indiana JV through June 11, 2021 (collectively, our “Equity-Method Investments”), and provide management services in exchange for fees and reimbursements. All acquisition fees and asset management fees earned by us are paid to SAM TRS and expenses incurred by us, as the manager, are reimbursed from SAM TRS. See Notes 5 and 7 for further information.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2021
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies For more information regarding our significant accounting policies and estimates, please refer to “Summary of Significant Accounting Policies” contained in the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2020 filed with the Securities and Exchange Commission (“SEC”) on March 29, 2021. There have been no material changes to our policies since that filing except as noted under Recently Adopted Accounting Pronouncements. The accompanying condensed consolidated balance sheet at December 31, 2020 has been derived from the audited consolidated financial statements at that date. We assume that users of these condensed consolidated financial statements have read or have access to the audited December 31, 2020 consolidated financial statements and contained in our Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC on March 29, 2021 and that the adequacy of additional disclosure needed for a fair presentation, except in regard to material contingencies, may be determined in that context. Accordingly, footnotes and other disclosures which would substantially duplicate those contained in our most recent Annual Report on Form 10-K for the year ended December 31, 2020 have been omitted in this report. Principles of Consolidation and Basis of Presentation The accompanying condensed consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, the Operating Partnership and its consolidated companies and are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). All intercompany accounts and transactions have been eliminated in consolidation. The accompanying financial information reflects all adjustments, which are, in the opinion of management, of a normal recurring nature and necessary for a fair presentation of our financial position, results of operations and cash flows for the interim periods. Interim results of operations are not necessarily indicative of the results to be expected for the full year. Operating results for the three and six months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. Restricted Cash The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown on the condensed consolidated statements of cash flows. June 30, December 31, 2021 2020 Cash and cash equivalents $ 21,026,000 $ 14,658,000 Restricted cash 3,002,000 2,933,000 Total cash, cash equivalents, and restricted cash shown on the condensed consolidated statements of cash flows $ 24,028,000 $ 17,591,000 Recently Adopted Accounting Pronouncements In January 2020, the Financial Accounting Standards Board issued Accounting Standard Update (“ASU”) 2020-01 to clarify the interaction among the accounting standards for equity securities, equity method investments and certain derivatives. The new ASU clarifies that a company should consider observable transactions that require a company to either apply or discontinue the equity method of accounting under Topic 323, Investments—Equity Method and Joint Ventures, for the purposes of applying the measurement alternative in accordance with Topic 321 immediately before applying or upon discontinuing the equity method. For public business entities, the amendments in this ASU are effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The adoption of the new standard on January 1, 2021 did not have a material effect on the Company’s financial position, results of operations, or cash flows. Coronavirus (COVID-19) Since it was first reported in December 2019, COVID-19 has spread globally. The outbreak has led governments and other authorities around the world, including federal, state and local authorities in the United States, to impose measures intended to control its spread, including restrictions on freedom of movement and business operations such as travel bans, border closings, business closures, quarantines and shelter-in-place orders. The COVID-19 pandemic and measures to prevent its spread negatively impacted senior housing and skilled nursing facilities in a number of ways, including but not limited to: ● Decreased occupancy and increased operating costs for the Company’s tenants and borrowers, which may adversely impact their ability to make full and timely rental and debt payments to the Company. The Company may have to restructure tenants’ long-term rent obligations in the future and may not be able to do so on terms that are as favorable to the Company as those currently in place. Reduced or modified rental and debt amounts could result in the determination that the full amounts of the Company’s real estate properties and notes receivable are not recoverable, which could result in an impairment charge. ● Decreased occupancy and increased operating costs for the Company’s Equity-Method Investments that own senior housing and skilled nursing facilities, which may negatively impact the operating results of these investments. The Equity-Method Investments may have to restructure tenants’ long-term rent obligations and may not be able to do so on terms that are as favorable to the Equity-Method Investments as those currently in place. Prolonged deterioration in the operating results for these investments could result in the determination that the full amounts of the Company’s investments are not recoverable, which could result in an impairment charge . For the period ended June 30, 2021, two of our tenants experienced a material adverse effect on their operations related to COVID-19, and that has affected their ability to make their rent payments in 2021. For one of the tenants, in October 2020, under a court order, a receiver assumed the responsibilities of operating and managing the Pennington Gardens facility in Chandler, Arizona. We are currently working with this tenant on a revised rent schedule for 2021, and during the six month period ended June 30, 2021, recorded rent payments on a cash basis and wrote off the remaining straight-line rent receivable of $0.4 million. For the other tenant that is managing the Sundial Assisted Living facility and experiencing operational issues, as of June 2021, we recorded rent payments on a cash basis and wrote off the remaining straight-line rent receivable of $0.1 million. Additionally, some of our Equity-Method Investment tenants have experienced decreased occupancy and increased operating costs related to COVID-19, however; there have been no rent concessions for such tenants during 2021. It is impossible to predict the continuing effect and ultimate impact of the COVID-19 pandemic on our operations and results as the situation is continuing to evolve. Many of our consolidated and Equity Method Investments facilities have administered the vaccine to residents and employees. It is too early to assess the total effect of the vaccinations on the industry, but it is believed they will help save the lives of those who are most at risk, as well as lessen the operational and financial burden on our facilities and their employees. The rapid development and fluidity of this situation precludes any prediction as to the ultimate material adverse impact on the demand for senior housing and skilled nursing and presents material uncertainty and risk with respect to our business, operations, financial condition and liquidity, including recording impairments, lease modifications and credit losses associated with notes receivable in future periods. CARES Act During 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted to provide economic stimulus and assistance to business owners to help maintain on-going operations in the form of grants, forgivable loans and other relief. We did not obtain a paycheck protection program loan. We have evaluated the CARES Act and determined that there was no impact on the Company for the six-month period ended June 30, 2021 or the year ended December 31, 2020. We will continue to evaluate and monitor the CARES Act, and any new COVID-19-related legislation to determine the ultimate impact and benefits, if any, to the Company.

Investments in Real Estate Prop

Investments in Real Estate Properties	6 Months Ended
Investments in Real Estate Properties	Jun. 30, 2021
Investments in Real Estate Properties
Investments in Real Estate Properties	3. Investments in Real Estate Properties As of June 30, 2021 and December 31, 2020, our investments in real estate properties including those held by our consolidated subsidiaries (excluding the 36 and 50 properties owned by our unconsolidated Equity-Method Investments, respectively) are set forth below: June 30, December 31, 2021 2020 Land $ 6,237,000 $ 6,237,000 Buildings and improvements 48,295,000 48,295,000 Less: accumulated depreciation (10,523,000) (9,853,000) Buildings and improvements, net 37,772,000 38,442,000 Furniture and fixtures 4,230,000 4,230,000 Less: accumulated depreciation (4,073,000) (3,988,000) Furniture and fixtures, net 157,000 242,000 Real estate properties, net $ 44,166,000 $ 44,921,000 For each of the three months ended June 30, 2021 and 2020, depreciation expense (excluding leasing commission amortization) was approximately $0.4 million. For each of the six months ended June 30, 2021 and 2020, depreciation expense (excluding leasing commission amortization) was approximately $0.8 million. As of June 30, 2021, our portfolio consisted of seven real estate properties which were 100% leased to the tenants of the related facilities. The following table provides summary information regarding our portfolio (excluding the 36 properties owned by our unconsolidated Equity-Method Investments) as of June 30, 2021: Loans Payable, Excluding Debt Purchase Issuance Property Location Date Purchased Type (1) Price Costs Sheridan Care Center Sheridan, OR August 3, 2012 SNF $ 4,100,000 $ 4,250,000 Fernhill Care Center Portland, OR August 3, 2012 SNF 4,500,000 3,729,000 Friendship Haven Healthcare and Rehabilitation Center Galveston County, TX September 14, 2012 SNF 15,000,000 11,643,000 Pacific Health and Rehabilitation Center Tigard, OR December 24, 2012 SNF 8,140,000 6,216,000 Brookstone of Aledo Aledo, IL July 2, 2013 AL 8,625,000 6,796,000 Sundial Assisted Living Redding, CA December 18, 2013 AL 3,500,000 3,766,000 Pennington Gardens Chandler, AZ July 17, 2017 AL/MC 13,400,000 10,269,000 Total: $ 57,265,000 $ 46,669,000 (1) SNF is an abbreviation for skilled nursing facility. AL is an abbreviation for assisted living facility. MC is an abbreviation for memory care facility. Future Minimum Lease Payments The future minimum lease payments to be received under our existing tenant operating leases (excluding the 36 properties owned by our unconsolidated Equity-Method Investments) as of June 30, 2021, for the period from July 1, 2021 to December 31, 2021 and for each of the four following years and thereafter ending December 31 are as follows: Years ending July 1, 2021 to December 31, 2021 $ 2,057,000 2022 4,181,000 2023 4,264,000 2024 4,350,000 2025 4,437,000 Thereafter 15,441,000 $ 34,730,000 2021 Acquisitions On July 2, 2021, we acquired three properties in California for approximately $20 million. See Note 13 for further information. Leasing Commissions As a self-managed REIT, we no longer pay leasing commissions. Leasing commissions which were capitalized prior to April 2014 at cost and are amortized on a straight-line basis over the related lease term. As of June 30, 2021 and December 31, 2020, total costs incurred were $1.1 million, and the unamortized balance of capitalized leasing commissions was approximately $0.5 million. Amortization expense for each of the three months ended June 30, 2021 and 2020 was approximately $18,000. Amortization expense for each of the six months ended June 30, 2021 and 2020 was approximately $35,000.

Loans Payable

Loans Payable	6 Months Ended
Loans Payable	Jun. 30, 2021
Loans Payable
Loans Payable	4. Loans Payable As of June 30, 2021 and December 31, 2020, our loans payable consisted of the following: June 30, 2021 December 31, 2020 Loan payable to Capital One Multifamily Finance, LLC (insured by HUD) in monthly installments of approximately $49,000, including interest at a fixed rate of 4.23%, due in September 2053, and collateralized by Pennington Gardens. $ 10,269,000 $ 10,330,000 Loans payable to Lument Capital (formerly ORIX Real Estate Capital, LLC) (insured by HUD) in monthly installments of approximately $183,000, including interest, ranging from a fixed rate of 2.79% to 4.2%, due in September 2039 through April 2055, and as of June 30, 2021 and December 31, 2020, collateralized by Sheridan, Fernhill, Pacific Health, Friendship Haven, Aledo and Sundial Assisted Living. $ 36,400,000 $ 36,857,000 46,669,000 47,187,000 Less debt issuance costs (1,879,000) (1,913,000) Total loans payable $ 44,790,000 $ 45,274,000 As of June 30, 2021, we have total debt obligations of approximately $46.7 million that will mature between 2039 and 2055. All of our properties are financed with U.S. Department of Housing and Urban Development (“HUD”) insured loans by various lenders. See table above listing loans payable for further information. See Note 3 for loans payable balance for each property. All of our HUD-insured loans are subject to customary representations, warranties and ongoing covenants and agreements with respect to the operation of the facilities, including the provision for certain maintenance and other reserve accounts for property tax, insurance, and capital expenditures, as described in the HUD agreements. These reserves are included in restricted cash in our condensed consolidated balance sheets. Additionally, all of our HUD-insured loans have certain financial and non-financial covenants, including ratios and financial statement considerations. As of June 30, 2021, we were in compliance with all of our debt covenants. In connection with our loans payable, we incurred debt issuance costs. As of June 30, 2021 and December 31, 2020, the unamortized balance of the debt issuance costs was approximately $1.9 million. These debt issuance costs are being amortized over the life of their respective financing agreements using the straight-line basis which approximates the effective interest rate method. For the three months ended June 30, 2021 and 2020, $16,000 and $98,000, respectively, of debt issuance costs were amortized and included in interest expense in our condensed consolidated statements of operations. For the six months ended June 30, 2021 and 2020, $34,000 and $132,000, respectively, of debt issuance costs were amortized and included in interest expense in our condensed consolidated statements of operations. Included in the amortization of debt issuance costs for the three and six months ended June 30, 2020 is $77,000 related to the write off of debt issuance costs for CHP Friendswood SNF, LLC’s prior loan. During the three months ended June 30, 2021 and 2020, we incurred approximately $0.5 million and $0.5 million of interest expense (excluding debt issuance costs amortization), respectively, related to our loans payable. During the six months ended June 30, 2021 and 2020, we incurred approximately $1.0 million and $1.1 million, respectively, of interest expense (excluding debt issuance costs amortization) related to our loans payable. The principal payments due on the loans payable (excluding debt issuance costs) for the period from July 1, 2021 to December 31, 2021 and for each of the four following years and thereafter ending December 31 are as follows: Principal Years Ending Amount July 1, 2021 to December 31, 2021 $ 543,000 2022 1,116,000 2023 1,158,000 2024 1,201,000 2025 1,246,000 Thereafter 41,405,000 $ 46,669,000

Equity-Method Investments

Equity-Method Investments	6 Months Ended
Equity-Method Investments	Jun. 30, 2021
Equity-Method Investments
Equity-Method Investments	5. Equity-Method Investments As of June 30, 2021 and December 31, 2020, the aggregate balances of our Equity-Method Investments were approximately $7.8 million and $11.4 million, respectively, and are as follows: Summit Union Life Holdings, LLC The SUL JV will exist until an event of dissolution occurs, as defined in the limited liability company agreement of the SUL JV (the “SUL LLC Agreement”). Under the SUL LLC Agreement, net operating cash flow of the SUL JV is distributed monthly, first to the Operating Partnership and Best Years pari passu pari passu As of June 30, 2021 and December 31, 2020, the balance of our equity-method investment related to the SUL JV was approximately $2.5 million and $2.7 million, respectively. Summit Fantasia Holdings, LLC The Fantasia JV will exist until an event of dissolution occurs, as defined in the limited liability company agreement of the Fantasia JV (the “Fantasia LLC Agreement”). Under the Fantasia LLC Agreement, net operating cash flow of the Fantasia JV is distributed quarterly, first to the Operating Partnership and Fantasia pari passu pari passu As of June 30, 2021 and December 31, 2020, the balance of our equity-method investment related to the Fantasia JV was approximately $2.1 million and $2.0 million, respectively. Summit Fantasia Holdings II, LLC The Fantasia II JV will exist until an event of dissolution occurs, as defined in the limited liability company agreement of the Fantasia II JV (the “Fantasia II LLC Agreement”). Under the Fantasia II LLC Agreement, net operating cash flow of the Fantasia JV is distributed quarterly, first to the Operating Partnership and Fantasia pari passu pari passu As of June 30, 2021 and December 31, 2020, the balance of our equity-method investment related to the Fantasia II JV was approximately $1.4 million and $1.4 million, respectively. Summit Fantasia Holdings III, LLC The Fantasia III JV will continue until an event of dissolution occurs, as defined in the limited liability company agreement of the Fantasia III JV (the “Fantasia III LLC Agreement”). Under the Fantasia III LLC Agreement, net operating cash flow of the Fantasia III JV is distributed quarterly, first to the Operating Partnership and Fantasia pari passu pari passu As of June 30, 2021 and December 31, 2020, the balance of our equity-method investment related to the Fantasia III JV was approximately $1.5 million and $1.6 million, respectively. Summit Fantasy Pearl Holdings, LLC The FPH JV will continue until an event of dissolution occurs, as defined in the limited liability company agreement of the FPH JV (the “FPH LLC Agreement”). Under the FPH LLC Agreement, net operating cash flow of the FPH JV is distributed quarterly, first to the members pari passu pari passu As of June 30, 2021 and December 31, 2020, the balance of our equity-method investment related to the FPH JV was approximately $0.3 million and $0.2 million, respectively. Indiana JV In June 2021, we sold our 15% interest in the Indiana JV for approximately $5.4 million in cash. For the three and six months ended June 30, 2021, we recorded approximately $3.5 million in gain on the sale from this equity-method investment which is included in our condensed consolidated statements of operations under Gain from sale of equity-method investment. As of June 30, 2021 and December 31, 2020, the balance of our equity-method investment related to the Indiana JV was approximately $0 and $3.5 million, respectively. Summarized Financial Data for Equity-Method Investments Our Equity-Method Investments are significant equity-method investments in the aggregate. The information for the Indiana JV is through the date of the sale of our interest, June 11, 2021. The results of operations of our Equity-Method Investments for the three months ended June 30, 2021 are summarized below: Fantasia Fantasia Fantasia FPH Indiana Combined SUL JV JV II JV III JV JV JV Total Revenue $ 5,091,000 $ 951,000 $ 921,000 $ 2,057,000 $ 893,000 $ (1,945,000) $ 7,968,000 Income from operations $ 1,810,000 $ 72,000 $ 479,000 $ 1,020,000 $ 412,000 $ (3,447,000) $ 346,000 Net income (loss) $ 609,000 $ 82,000 $ 243,000 $ 492,000 $ 81,000 $ (4,969,000) $ (3,462,000) Summit interest in Equity-Method Investments net income (loss) $ 61,000 $ 29,000 $ 49,000 $ 49,000 $ 8,000 $ (746,000) $ (550,000) The results of operations of our Equity-Method Investments for the three months ended June 30, 2020 are summarized below: Fantasia Fantasia Fantasia FPH Indiana Combined SUL JV JV II JV III JV JV JV Total Revenue $ 4,600,000 $ 1,022,000 $ 890,000 $ 2,000,000 $ 886,000 $ 2,946,000 $ 12,344,000 Income from operations $ 1,978,000 $ 116,000 $ 484,000 $ 1,104,000 $ 418,000 $ 1,854,000 $ 5,954,000 Net income (loss) $ 741,000 $ (57,000) $ 242,000 $ 566,000 $ (51,000) $ (117,000) $ 1,324,000 Summit interest in Equity-Method Investments net income (loss) $ 74,000 $ (20,000) $ 48,000 $ 57,000 $ (5,000) $ (17,000) $ 137,000 The results of operations of our Equity-Method Investments for the six months ended June 30, 2021 are summarized below: Fantasia Fantasia Fantasia FPH Combined SUL JV JV II JV III JV JV Indiana JV Total Revenue $ 10,267,000 $ 1,881,000 $ 1,841,000 $ 4,113,000 $ 1,783,000 $ (1,695,000) $ 18,190,000 Income (loss) from operations $ 3,357,000 $ 143,000 $ 964,000 $ 2,057,000 $ 833,000 $ (5,093,000) $ 2,261,000 Net income (loss) $ 787,000 $ 369,000 $ 492,000 $ 1,007,000 $ 928,000 $ (8,567,000) $ (4,984,000) Summit interest in Equity-Method Investments net income (loss) $ 79,000 $ 129,000 $ 98,000 $ 102,000 $ 93,000 $ (1,286,000) $ (785,000) The results of operations of our Equity-Method Investments for the six months ended June 30, 2020 are summarized below: Fantasia Fantasia Fantasia FPH Combined SUL JV JV II JV III JV JV Indiana JV Total Revenue $ 9,150,000 $ 2,074,000 $ 1,782,000 $ 4,000,000 $ 1,771,000 $ 5,893,000 $ 24,670,000 Income from operations $ 3,856,000 $ 304,000 $ 991,000 $ 2,141,000 $ 839,000 $ 3,722,000 $ 11,853,000 Net income (loss) $ 1,696,000 $ (78,000) $ 508,000 $ 966,000 $ (1,405,000) $ (221,000) $ 1,466,000 Summit interest in Equity-Method Investments net income (loss) $ 169,000 $ (28,000) $ 102,000 $ 97,000 $ (140,000) $ (33,000) $ 167,000 Distributions from Equity-Method Investments As of June 30, 2021 and December 31, 2020, we have distributions receivable, which are included in tenant and other receivables in our condensed consolidated balance sheets, as follows: June 30, December 31, 2021 2020 SUL JV $ 268,000 $ 466,000 Fantasia JV 115,000 36,000 Fantasia II JV 53,000 51,000 Fantasia III JV 264,000 257,000 FPH JV 25,000 26,000 Indiana JV — 498,000 Total $ 725,000 $ 1,334,000 For the six months ended June 30, 2021 and 2020, we have received cash distributions, which are included in our cash flows from operating activities in tenant and other receivables, and cash flows from investing activities, as follows: Six Months Ended June 30, 2021 Six Months Ended June 30, 2020 Cash Flow Cash Flow Cash Flow Cash Flow Total Cash from from Total Cash from from Distributions Operating Investing Distributions Operating Investing Received Activities Activities Received Activities Activities SUL JV $ 484,000 $ 79,000 $ 405,000 $ 235,000 $ 169,000 $ 66,000 Fantasia JV — — — 144,000 — 144,000 Fantasia II JV 148,000 98,000 50,000 147,000 101,000 46,000 Fantasia III JV 123,000 101,000 22,000 69,000 69,000 — FPH JV 77,000 77,000 — 84,000 — 84,000 Indiana JV 773,000 — 773,000 300,000 — 300,000 Total $ 1,605,000 $ 355,000 $ 1,250,000 $ 979,000 $ 339,000 $ 640,000 Acquisition and Asset Management Fees We serve as the manager of our Equity-Method Investments and provide management services in exchange for fees and reimbursements. As the manager, we are paid an acquisition fee, as defined in the applicable joint venture agreements. Additionally, we are paid an annual asset management fee for managing the properties held by our Equity-Method Investments, as defined in those agreements. For each of the three months ended June 30, 2021 and 2020, we recorded approximately $0.3 million in acquisition and asset management fees from our Equity-Method Investments. For each of the six months ended June 30, 2021 and 2020, we recorded $0.6 million in acquisition and asset management fees from our Equity-Method Investments (see Note 7).

Receivables

Receivables	6 Months Ended
Receivables	Jun. 30, 2021
Receivables
Receivables	6. Receivables Tenant and Other Receivables, Net Tenant and other receivables, net consists of: June 30, December 31, 2021 2020 Straight-line rent receivables $ 2,278,000 $ 2,772,000 Distribution receivables from Equity-Method Investments 725,000 1,334,000 Asset management fees 311,000 432,000 Other receivables 37,000 139,000 Total $ 3,351,000 $ 4,677,000

Related Party Transactions

Related Party Transactions	6 Months Ended
Related Party Transactions	Jun. 30, 2021
Related Party Transactions
Related Party Transactions	7. Related Party Transactions CRA Prior to the termination of our advisory agreement on April 1, 2014 with CRA (our former advisor, a related party), we incurred costs related to fees paid and costs reimbursed for services rendered to us by CRA through September 30, 2014. Some of the fees we had paid to CRA were considered to be in excess of allowed amounts and, therefore, CRA was required to reimburse us for the amount of the excess costs we paid to them. As of June 30, 2021 and December 31, 2020, the receivables from CRA are fully reserved due to the uncertainty of collectability and are included in tenant and other receivables in our condensed consolidated balance sheets (see Note 10). As of June 30, 2021 and December 31, 2020, we had the following receivables and reserves related to CRA: Receivables Reserves Balance Organizational and offering costs $ 738,000 $ (738,000) $ — Asset management fees and expenses 32,000 (32,000) — Operating expenses (direct and indirect) 189,000 (189,000) — Operating expenses (2%/25% Test) 1,717,000 (1,717,000) — Total $ 2,676,000 $ (2,676,000) $ — Equity-Method Investments See Notes 5 and 6 for further discussion of distributions and acquisition and asset management fees related to our Equity-Method Investments.

Concentration of Risk

Concentration of Risk	6 Months Ended
Concentration of Risk	Jun. 30, 2021
Concentration of Risk
Concentration of Risk	8. Concentration of Risk Our cash is generally invested in short-term money market instruments. As of June 30, 2021, we had cash and cash equivalent accounts in excess of FDIC-insured limits. However, we do not believe the risk associated with this excess is significant. As of June 30, 2021, we owned one property in California, three properties in Oregon, one property in Texas, one property in Illinois, and one property in Arizona (excluding the 36 properties held by our Equity-Method Investments). Accordingly, there is a geographic concentration of risk subject to economic conditions in certain states. Additionally, for the three months ended June 30, 2021, we leased our seven real estate properties to five different tenants under long-term triple net leases, and three of the five tenants each represented more than 10% of our rental revenue. For the three months ended June 30, 2020, we leased our seven real estate properties to five different tenants under long-term triple net leases, and four of the five tenants each represented rental revenue greater than 10% (35%, 24%, 19% and 15%). For the six months ended June 30, 2021, we leased our seven real estate properties to five different tenants under long-term triple net leases, and three of the five tenants each represented more than 10% of our rental revenue. For the six months ended June 30, 2020, we leased our seven healthcare properties to five different tenants under long-term triple net leases, and four of the five tenants each represented rental revenue greater than 10% (35%, 24%, 20% and 15%). As of June 30, 2021, no tenants constituted a significant asset concentration as the net assets of the tenants were not greater than 20% of our total assets.

Fair Value Measurements of Fina

Fair Value Measurements of Financial Instruments	6 Months Ended
Fair Value Measurements of Financial Instruments	Jun. 30, 2021
Fair Value Measurements of Financial Instruments
Fair Value Measurements of Financial Instruments	9. Fair Value Measurements of Financial Instruments Our condensed consolidated balance sheets include the following financial instruments: cash and cash equivalents, restricted cash, notes receivable, tenant and other receivables, certain other assets, accounts payable and accrued liabilities, security deposits and loans payable. With the exception of the loans payable discussed below, we consider the carrying values to approximate fair value for such financial instruments because of the short period of time between origination of the instruments and their expected payment. As of June 30, 2021 and December 31, 2020, the fair value of loans payable was $52.0 million and $52.6 million, compared to the principal balance (excluding debt discount) of $46.7 million and $47.2 million, respectively. The fair value of loans payable was estimated using lending rates available to us for financial instruments with similar terms and maturities. To estimate fair value as of June 30, 2021, we utilized discount rates ranging from 2.8% to 4.2% and a weighted average discount rate of 2.8%. As the inputs to our valuation estimate are neither observable in nor supported by market activity, our loans payable are classified as Level 3 liability within the fair value hierarchy. As a result of our ongoing analysis for potential impairment of our investments in real estate, we may be required to adjust the carrying value of certain assets to their estimated fair values, or estimated fair value less selling costs, under certain circumstances. No impairments were recorded during the three and six months ended June 30, 2021 and 2020. At June 30, 2021 and December 31, 2020, we do not have any financial assets or financial liabilities that are measured at fair value on a recurring basis in our condensed consolidated financial statements.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2021
Commitments and Contingencies
Commitments and Contingencies	10. Commitments and Contingencies We inspect our properties under a Phase I assessment for the presence of hazardous or toxic substances. While there can be no assurance that a material environmental liability does not exist, we are not currently aware of any environmental liability with respect to the properties that would have a material effect on our consolidated financial condition, results of operations and cash flows. Further, we are not aware of any environmental liability or any unasserted claim or assessment with respect to an environmental liability that we believe would require additional disclosure or the recording of a loss contingency. Our commitments and contingencies include the usual obligations of real estate owners and licensed operators in the normal course of business. In the opinion of management, these matters are not expected to have a material impact on our consolidated financial condition, results of operations and cash flows. We are also subject to contingent losses resulting from litigation against the Company. Legal Proceedings On April 1, 2014, CRA and Cornerstone Ventures, Inc. filed a complaint in the Superior Court of California for the County of Orange-Central Justice Center, Case No. 30-2014-00714004-CU-BT-CJC, naming the Company, its former directors, one of its officers and one of its former officers as defendants, seeking declaratory and injunctive relief and compensatory and punitive damages. On September 17, 2014, we filed a First Amended Cross-Complaint seeking compensatory damages and an accounting pursuant to Sections 10(c)(i) and 17(c)(ii) of the Advisory Agreement and including any monies Plaintiffs and Terry Roussel directly or indirectly received from or paid to the Company. On February 22, 2018, the action was assigned to a different trial judge. On May 29, 2018, the Company filed a motion for terminating and monetary sanctions against CRA, Cornerstone Ventures, Inc. and their counsel, Winget Spadafora & Schwartzberg. On November 30, 2018, the new trial judge vacated the trial date, pending resolution of the Company’s motion for terminating and monetary sanctions against CRA and Cornerstone Ventures, Inc. and denied the Company’s motion for sanctions against Winget Spadafora & Schwartzberg. On February 13, 2019, the trial judge held another hearing on the Company’s motion for terminating and monetary sanctions and indicated that it intended to grant the Company’s motion for terminating sanctions and award the Company monetary sanctions. On March 14, 2019, the Court entered an Order and Judgment granting the Company’s motion for terminating sanctions, awarding the Company monetary sanctions in the amount of $588,672, and dismissing CRA and Cornerstone Ventures Inc.’s Complaint with prejudice. On May 21, 2019, CRA and Cornerstone Ventures, Inc. filed a notice of appeal from the Judgment and, on June 3, 2019, the Company filed a notice of cross-appeal from the Judgment. On July 9, 2019, the California Court of Appeal, Fourth District dismissed CRA and Cornerstone Ventures, Inc.’s appeal with prejudice. The briefing to the Court of Appeal, Fourth District on the Company’s appeals against CRA, Cornerstone Ventures, Inc and Winget Spadafora & Schwartzberg was completed on April 27, 2020. On October 28, 2020, the Court of Appeal issued an opinion affirming in part, and reversing, in part, the trial court’s opinion and remanded the action back to the trial court. On February 11, 2021, the trial court issued an order awarding an additional $189,645 in monetary sanctions for the period prior to July 12, 2016 in favor of the Company and against CRA and CVI. In September 2015, a bankruptcy petition was filed against Healthcare Real Estate Partners, LLC (“HCRE”) by the investors in Healthcare Real Estate Fund, LLC and Healthcare Real Estate Qualified Purchasers Fund, LLC (collectively, the “Funds”). HCRE did not timely respond to the involuntary petition and the Bankruptcy Court entered an Order of Relief making HCRE a debtor in bankruptcy. As a result, HCRE was removed as manager under the Funds’ operating agreement. Thereafter the Company became the manager of the Funds and purchased the investors’ interests in the Funds for approximately $0.9 million. Following the subsequent dismissal of the involuntary bankruptcy petition filed against it, HCRE filed a motion for attorneys’ fees and damages and a separate complaint for violation of the automatic stay against the petitioning creditors and the Company in the United States Bankruptcy Court of the District of Delaware. The Bankruptcy Court granted a motion to dismiss the complaint for violation of the automatic stay filed jointly by the petitioning creditors and us, and dismissed the complaint with prejudice. HCRE appealed the Bankruptcy Court’s decision to the United States District Court for the District of Delaware which affirmed the Bankruptcy Court’s dismissal of the complaint in a decision dated September 9, 2018. On October 11, 2018, HCRE appealed the District Court’s decision affirming the Bankruptcy Court’s dismissal of the complaint to the United States Court of Appeals for the Third Circuit. On October 22, 2019, the Third Circuit granted HCRE’s appeal, reversing the District Court and holding that HCRE could assert the adversary complaint seeking damages for violation of the automatic stay. The Company filed a Petition for Rehearing on November 5, 2019 asserting that HCRE is not entitled to assert a claim for damages for violation of the automatic stay. This Petition was denied and the mandate was issued sending the matter back to the Bankruptcy Court. The Bankruptcy Court held a status conference on February 4, 2021, and subsequently entered scheduling orders to govern discovery and pretrial matters, and discovery is ongoing. Based on the assessment by management of the numerous legal arguments that can be raised on this claim, the Company believes that a loss is currently not probable or estimable under ASC 450, “Contingencies”, and as of June 30, 2021 no accrual has been made with regard to the claim. We believe that all of HCRE’s remaining alleged claims are without merit and will vigorously defend ourselves. Indemnification and Employment Agreements We have entered into indemnification agreements with certain of our executive officers and directors which indemnify them against all judgments, penalties, fines and amounts paid in settlement and all expenses actually and reasonably incurred by him or her in connection with any proceeding. Additionally, effective October 1, 2018, we amended our employment agreements with our executive officers to extend the term of each agreement for an additional three years. These employment agreements include customary terms relating to salary, bonus, position, duties and benefits (including eligibility for equity compensation), as well as a cash payment following a change in control of the Company, as defined in such agreements. Management of our Equity-Method Investments As the manager of our Equity-Method Investments, we are responsible for the day-to-day management. Additionally, we could be subject to a capital call from our Equity-Method Investments.

Equity

Equity	6 Months Ended
Equity	Jun. 30, 2021
Equity
Equity	11. Equity Share-Based Compensation Plans Upon the grant of stock options, we determine the exercise price by using our estimated per-share value, which is calculated by aggregating the estimated fair value of our investments in real estate and the estimated fair value of our other assets, subtracting the book value of our liabilities, utilizing a discount for the fact that the shares are not currently traded on a national securities exchange and a lack of a control premium, and divided by the total by the number of our common shares outstanding at the time the options were granted. The fair value of each grant is estimated on the date of grant using the Black-Scholes option-pricing model. Assumptions required by the model include the risk-free interest rate, the expected life of the options, the expected stock price volatility over the expected life of the options, and the expected distribution yield. Compensation expense for employee stock options is recognized ratably over the vesting term. The expected life of the options was based on the simplified method as we do not have sufficient historical exercise data. The risk-free interest rate was based on the U.S. Treasury yield curve at the date of grant with maturity dates approximating the expected term of the options at the date of grant. Volatility was based on historical volatility of the stock prices for a sample of publicly traded companies with risk profiles similar to ours. The valuation model applied in this calculation utilizes highly subjective assumptions that could potentially change over time, including the expected stock price volatility and the expected life of an option. The following table summarizes our stock options as of June 30, 2021: Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Options Price Term Value Options outstanding at January 1, 2021 1,871,908 $ 2.09 Granted — Exercised — Cancelled/forfeited — Options outstanding at June 30, 2021 1,871,908 $ 2.09 6.32 $ 1,524,000 Options exercisable at June 30, 2021 1,812,491 $ 2.08 6.26 $ 1,486,000 For our outstanding non-vested options as of June 30, 2021, the weighted average grant date fair value per share was $0.59. As of June 30, 2021, we have unrecognized stock-based compensation expense related to unvested stock options which is expected to be recognized as follows: Years Ending December 31, July 1, 2021 to December 31, 2021 $ 19,000 2022 15,000 2023 1,000 $ 35,000 The stock-based compensation expense reported for the three months ended June 30, 2021 and 2020 was approximately $11,000 and $38,000, respectively, and is included in general and administrative expense in the condensed consolidated statements of operations. The stock-based compensation expense reported for the six months ended June 30, 2021 and 2020 was approximately $47,000 and $80,000, respectively, and is included in general and administrative expense in the condensed consolidated statements of operations.

Earnings Per Share

Earnings Per Share	6 Months Ended
Earnings Per Share	Jun. 30, 2021
Earnings Per Share
Earnings Per Share	12. Earnings Per Share The following table presents the calculation of basic and diluted earnings per share (“EPS”) for the Company’s common stock for the three and six months ended June 30, 2021 and 2020, and reconciles the weighted-average common shares outstanding used in the calculation of basic EPS to the weighted-average common shares outstanding used in the calculation of diluted EPS: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Numerator: Income (loss) $ 2,573,000 $ (63,000) $ 833,000 $ (264,000) (Income) loss attributable to noncontrolling interest (22,000) (11,000) (40,000) (23,000) Net income (loss) applicable to common stockholders $ 2,551,000 $ (74,000) $ 793,000 $ (287,000) Denominator: Basic: Denominator for basic EPS - weighted average shares 23,027,978 23,027,978 23,027,978 23,027,978 Effect of dilutive shares: Stock options 525,628 — 525,628 — Denominator for diluted EPS – adjusted weighted average shares 23,553,606 23,027,978 23,553,606 23,027,978 Basic EPS $ 0.11 $ — $ 0.03 $ (0.01) Diluted EPS $ 0.11 $ — $ 0.03 $ (0.01)

Subsequent Events

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2021
Subsequent Events
Subsequent Events	13. Subsequent Events On July 2, 2021, through our wholly-owned subsidiary, we acquired three skilled nursing facilities, two located in Yucaipa, California and one located in Mentone, California (collectively, the “CA3 Properties”), for the purchase price of $20,055,000, which was funded through cash on hand plus the proceeds from the loan described below. The CA3 Properties are leased to three unrelated parties under three separate 15-year two We acquired our interest in the CA3 Properties subject to a first priority mortgage loan collateralized by the properties. On July 2, 2021, we entered into a loan agreement with CIBC Bank, USA for $15.0 million in principal amount. The loan bears interest at the One Month London Interbank Offer Rate (LIBOR) plus 4.00%, and matures on July 2, 2024. The loan is interest only for the first year and thereafter requires additional monthly installments of principal that are held by the lender in a cash loan guarantee fund until maturity. The loan may be prepaid at any time with no penalty if the CA3 Properties are refinanced through the Department of Housing and Urban Development or if not, we would be required to pay an exit fee, as defined in the loan agreement.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2021
Summary of Significant Accounting Policies
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The accompanying condensed consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, the Operating Partnership and its consolidated companies and are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). All intercompany accounts and transactions have been eliminated in consolidation. The accompanying financial information reflects all adjustments, which are, in the opinion of management, of a normal recurring nature and necessary for a fair presentation of our financial position, results of operations and cash flows for the interim periods. Interim results of operations are not necessarily indicative of the results to be expected for the full year. Operating results for the three and six months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021.
Restricted Cash	Restricted Cash The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown on the condensed consolidated statements of cash flows. June 30, December 31, 2021 2020 Cash and cash equivalents $ 21,026,000 $ 14,658,000 Restricted cash 3,002,000 2,933,000 Total cash, cash equivalents, and restricted cash shown on the condensed consolidated statements of cash flows $ 24,028,000 $ 17,591,000
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In January 2020, the Financial Accounting Standards Board issued Accounting Standard Update (“ASU”) 2020-01 to clarify the interaction among the accounting standards for equity securities, equity method investments and certain derivatives. The new ASU clarifies that a company should consider observable transactions that require a company to either apply or discontinue the equity method of accounting under Topic 323, Investments—Equity Method and Joint Ventures, for the purposes of applying the measurement alternative in accordance with Topic 321 immediately before applying or upon discontinuing the equity method. For public business entities, the amendments in this ASU are effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The adoption of the new standard on January 1, 2021 did not have a material effect on the Company’s financial position, results of operations, or cash flows.
Coronavirus (COVID-19)	Coronavirus (COVID-19) Since it was first reported in December 2019, COVID-19 has spread globally. The outbreak has led governments and other authorities around the world, including federal, state and local authorities in the United States, to impose measures intended to control its spread, including restrictions on freedom of movement and business operations such as travel bans, border closings, business closures, quarantines and shelter-in-place orders. The COVID-19 pandemic and measures to prevent its spread negatively impacted senior housing and skilled nursing facilities in a number of ways, including but not limited to: ● Decreased occupancy and increased operating costs for the Company’s tenants and borrowers, which may adversely impact their ability to make full and timely rental and debt payments to the Company. The Company may have to restructure tenants’ long-term rent obligations in the future and may not be able to do so on terms that are as favorable to the Company as those currently in place. Reduced or modified rental and debt amounts could result in the determination that the full amounts of the Company’s real estate properties and notes receivable are not recoverable, which could result in an impairment charge. ● Decreased occupancy and increased operating costs for the Company’s Equity-Method Investments that own senior housing and skilled nursing facilities, which may negatively impact the operating results of these investments. The Equity-Method Investments may have to restructure tenants’ long-term rent obligations and may not be able to do so on terms that are as favorable to the Equity-Method Investments as those currently in place. Prolonged deterioration in the operating results for these investments could result in the determination that the full amounts of the Company’s investments are not recoverable, which could result in an impairment charge . For the period ended June 30, 2021, two of our tenants experienced a material adverse effect on their operations related to COVID-19, and that has affected their ability to make their rent payments in 2021. For one of the tenants, in October 2020, under a court order, a receiver assumed the responsibilities of operating and managing the Pennington Gardens facility in Chandler, Arizona. We are currently working with this tenant on a revised rent schedule for 2021, and during the six month period ended June 30, 2021, recorded rent payments on a cash basis and wrote off the remaining straight-line rent receivable of $0.4 million. For the other tenant that is managing the Sundial Assisted Living facility and experiencing operational issues, as of June 2021, we recorded rent payments on a cash basis and wrote off the remaining straight-line rent receivable of $0.1 million. Additionally, some of our Equity-Method Investment tenants have experienced decreased occupancy and increased operating costs related to COVID-19, however; there have been no rent concessions for such tenants during 2021. It is impossible to predict the continuing effect and ultimate impact of the COVID-19 pandemic on our operations and results as the situation is continuing to evolve. Many of our consolidated and Equity Method Investments facilities have administered the vaccine to residents and employees. It is too early to assess the total effect of the vaccinations on the industry, but it is believed they will help save the lives of those who are most at risk, as well as lessen the operational and financial burden on our facilities and their employees. The rapid development and fluidity of this situation precludes any prediction as to the ultimate material adverse impact on the demand for senior housing and skilled nursing and presents material uncertainty and risk with respect to our business, operations, financial condition and liquidity, including recording impairments, lease modifications and credit losses associated with notes receivable in future periods.
CARES Act	CARES Act During 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted to provide economic stimulus and assistance to business owners to help maintain on-going operations in the form of grants, forgivable loans and other relief. We did not obtain a paycheck protection program loan. We have evaluated the CARES Act and determined that there was no impact on the Company for the six-month period ended June 30, 2021 or the year ended December 31, 2020. We will continue to evaluate and monitor the CARES Act, and any new COVID-19-related legislation to determine the ultimate impact and benefits, if any, to the Company.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
Summary of Significant Accounting Policies (Tables)	Jun. 30, 2021
Summary of Significant Accounting Policies
Schedule of restrictions on cash and cash equivalents	June 30, December 31, 2021 2020 Cash and cash equivalents $ 21,026,000 $ 14,658,000 Restricted cash 3,002,000 2,933,000 Total cash, cash equivalents, and restricted cash shown on the condensed consolidated statements of cash flows $ 24,028,000 $ 17,591,000

Investments in Real Estate Pr_2

Investments in Real Estate Properties (Tables)	6 Months Ended
Investments in Real Estate Properties (Tables)	Jun. 30, 2021
Investments in Real Estate Properties.
Schedule of business acquisitions, by acquisition	June 30, December 31, 2021 2020 Land $ 6,237,000 $ 6,237,000 Buildings and improvements 48,295,000 48,295,000 Less: accumulated depreciation (10,523,000) (9,853,000) Buildings and improvements, net 37,772,000 38,442,000 Furniture and fixtures 4,230,000 4,230,000 Less: accumulated depreciation (4,073,000) (3,988,000) Furniture and fixtures, net 157,000 242,000 Real estate properties, net $ 44,166,000 $ 44,921,000
Schedule of real estate properties	The following table provides summary information regarding our portfolio (excluding the 36 properties owned by our unconsolidated Equity-Method Investments) as of June 30, 2021: Loans Payable, Excluding Debt Purchase Issuance Property Location Date Purchased Type (1) Price Costs Sheridan Care Center Sheridan, OR August 3, 2012 SNF $ 4,100,000 $ 4,250,000 Fernhill Care Center Portland, OR August 3, 2012 SNF 4,500,000 3,729,000 Friendship Haven Healthcare and Rehabilitation Center Galveston County, TX September 14, 2012 SNF 15,000,000 11,643,000 Pacific Health and Rehabilitation Center Tigard, OR December 24, 2012 SNF 8,140,000 6,216,000 Brookstone of Aledo Aledo, IL July 2, 2013 AL 8,625,000 6,796,000 Sundial Assisted Living Redding, CA December 18, 2013 AL 3,500,000 3,766,000 Pennington Gardens Chandler, AZ July 17, 2017 AL/MC 13,400,000 10,269,000 Total: $ 57,265,000 $ 46,669,000 (1) SNF is an abbreviation for skilled nursing facility. AL is an abbreviation for assisted living facility. MC is an abbreviation for memory care facility.
Schedule of future minimum rental payments to be received	Years ending July 1, 2021 to December 31, 2021 $ 2,057,000 2022 4,181,000 2023 4,264,000 2024 4,350,000 2025 4,437,000 Thereafter 15,441,000 $ 34,730,000

Loans Payable (Tables)

Loans Payable (Tables)	6 Months Ended
Loans Payable (Tables)	Jun. 30, 2021
Loans Payable
Schedule of debt	June 30, 2021 December 31, 2020 Loan payable to Capital One Multifamily Finance, LLC (insured by HUD) in monthly installments of approximately $49,000, including interest at a fixed rate of 4.23%, due in September 2053, and collateralized by Pennington Gardens. $ 10,269,000 $ 10,330,000 Loans payable to Lument Capital (formerly ORIX Real Estate Capital, LLC) (insured by HUD) in monthly installments of approximately $183,000, including interest, ranging from a fixed rate of 2.79% to 4.2%, due in September 2039 through April 2055, and as of June 30, 2021 and December 31, 2020, collateralized by Sheridan, Fernhill, Pacific Health, Friendship Haven, Aledo and Sundial Assisted Living. $ 36,400,000 $ 36,857,000 46,669,000 47,187,000 Less debt issuance costs (1,879,000) (1,913,000) Total loans payable $ 44,790,000 $ 45,274,000
Schedule of maturities of long-term debt	The principal payments due on the loans payable (excluding debt issuance costs) for the period from July 1, 2021 to December 31, 2021 and for each of the four following years and thereafter ending December 31 are as follows: Principal Years Ending Amount July 1, 2021 to December 31, 2021 $ 543,000 2022 1,116,000 2023 1,158,000 2024 1,201,000 2025 1,246,000 Thereafter 41,405,000 $ 46,669,000

Equity-Method Investments (Tabl

Equity-Method Investments (Tables)	6 Months Ended
Equity-Method Investments (Tables)	Jun. 30, 2021
Equity-Method Investments
Schedule of results of operations	The results of operations of our Equity-Method Investments for the three months ended June 30, 2021 are summarized below: Fantasia Fantasia Fantasia FPH Indiana Combined SUL JV JV II JV III JV JV JV Total Revenue $ 5,091,000 $ 951,000 $ 921,000 $ 2,057,000 $ 893,000 $ (1,945,000) $ 7,968,000 Income from operations $ 1,810,000 $ 72,000 $ 479,000 $ 1,020,000 $ 412,000 $ (3,447,000) $ 346,000 Net income (loss) $ 609,000 $ 82,000 $ 243,000 $ 492,000 $ 81,000 $ (4,969,000) $ (3,462,000) Summit interest in Equity-Method Investments net income (loss) $ 61,000 $ 29,000 $ 49,000 $ 49,000 $ 8,000 $ (746,000) $ (550,000) The results of operations of our Equity-Method Investments for the three months ended June 30, 2020 are summarized below: Fantasia Fantasia Fantasia FPH Indiana Combined SUL JV JV II JV III JV JV JV Total Revenue $ 4,600,000 $ 1,022,000 $ 890,000 $ 2,000,000 $ 886,000 $ 2,946,000 $ 12,344,000 Income from operations $ 1,978,000 $ 116,000 $ 484,000 $ 1,104,000 $ 418,000 $ 1,854,000 $ 5,954,000 Net income (loss) $ 741,000 $ (57,000) $ 242,000 $ 566,000 $ (51,000) $ (117,000) $ 1,324,000 Summit interest in Equity-Method Investments net income (loss) $ 74,000 $ (20,000) $ 48,000 $ 57,000 $ (5,000) $ (17,000) $ 137,000 The results of operations of our Equity-Method Investments for the six months ended June 30, 2021 are summarized below: Fantasia Fantasia Fantasia FPH Combined SUL JV JV II JV III JV JV Indiana JV Total Revenue $ 10,267,000 $ 1,881,000 $ 1,841,000 $ 4,113,000 $ 1,783,000 $ (1,695,000) $ 18,190,000 Income (loss) from operations $ 3,357,000 $ 143,000 $ 964,000 $ 2,057,000 $ 833,000 $ (5,093,000) $ 2,261,000 Net income (loss) $ 787,000 $ 369,000 $ 492,000 $ 1,007,000 $ 928,000 $ (8,567,000) $ (4,984,000) Summit interest in Equity-Method Investments net income (loss) $ 79,000 $ 129,000 $ 98,000 $ 102,000 $ 93,000 $ (1,286,000) $ (785,000) The results of operations of our Equity-Method Investments for the six months ended June 30, 2020 are summarized below: Fantasia Fantasia Fantasia FPH Combined SUL JV JV II JV III JV JV Indiana JV Total Revenue $ 9,150,000 $ 2,074,000 $ 1,782,000 $ 4,000,000 $ 1,771,000 $ 5,893,000 $ 24,670,000 Income from operations $ 3,856,000 $ 304,000 $ 991,000 $ 2,141,000 $ 839,000 $ 3,722,000 $ 11,853,000 Net income (loss) $ 1,696,000 $ (78,000) $ 508,000 $ 966,000 $ (1,405,000) $ (221,000) $ 1,466,000 Summit interest in Equity-Method Investments net income (loss) $ 169,000 $ (28,000) $ 102,000 $ 97,000 $ (140,000) $ (33,000) $ 167,000
Schedule of distributions receivable	June 30, December 31, 2021 2020 SUL JV $ 268,000 $ 466,000 Fantasia JV 115,000 36,000 Fantasia II JV 53,000 51,000 Fantasia III JV 264,000 257,000 FPH JV 25,000 26,000 Indiana JV — 498,000 Total $ 725,000 $ 1,334,000
Schedule of cash distributions	Six Months Ended June 30, 2021 Six Months Ended June 30, 2020 Cash Flow Cash Flow Cash Flow Cash Flow Total Cash from from Total Cash from from Distributions Operating Investing Distributions Operating Investing Received Activities Activities Received Activities Activities SUL JV $ 484,000 $ 79,000 $ 405,000 $ 235,000 $ 169,000 $ 66,000 Fantasia JV — — — 144,000 — 144,000 Fantasia II JV 148,000 98,000 50,000 147,000 101,000 46,000 Fantasia III JV 123,000 101,000 22,000 69,000 69,000 — FPH JV 77,000 77,000 — 84,000 — 84,000 Indiana JV 773,000 — 773,000 300,000 — 300,000 Total $ 1,605,000 $ 355,000 $ 1,250,000 $ 979,000 $ 339,000 $ 640,000

Receivables (Tables)

Receivables (Tables)	6 Months Ended
Receivables (Tables)	Jun. 30, 2021
Receivables
Schedule of tenant and other receivables	June 30, December 31, 2021 2020 Straight-line rent receivables $ 2,278,000 $ 2,772,000 Distribution receivables from Equity-Method Investments 725,000 1,334,000 Asset management fees 311,000 432,000 Other receivables 37,000 139,000 Total $ 3,351,000 $ 4,677,000

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
Related Party Transactions (Tables)	Jun. 30, 2021
Related Party Transactions
Schedule of receivables and reserves related to CRA	As of June 30, 2021 and December 31, 2020, we had the following receivables and reserves related to CRA: Receivables Reserves Balance Organizational and offering costs $ 738,000 $ (738,000) $ — Asset management fees and expenses 32,000 (32,000) — Operating expenses (direct and indirect) 189,000 (189,000) — Operating expenses (2%/25% Test) 1,717,000 (1,717,000) — Total $ 2,676,000 $ (2,676,000) $ —

Equity (Tables)

Equity (Tables)	6 Months Ended
Equity (Tables)	Jun. 30, 2021
Equity
Schedule of stock options	The following table summarizes our stock options as of June 30, 2021: Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Options Price Term Value Options outstanding at January 1, 2021 1,871,908 $ 2.09 Granted — Exercised — Cancelled/forfeited — Options outstanding at June 30, 2021 1,871,908 $ 2.09 6.32 $ 1,524,000 Options exercisable at June 30, 2021 1,812,491 $ 2.08 6.26 $ 1,486,000
Schedule of unrecognized stock-based compensation expense	Years Ending December 31, July 1, 2021 to December 31, 2021 $ 19,000 2022 15,000 2023 1,000 $ 35,000

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
Earnings Per Share (Tables)	Jun. 30, 2021
Earnings Per Share
Schedule of basic and diluted earning per share and reconciliation weighted average common stock outstanding	Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Numerator: Income (loss) $ 2,573,000 $ (63,000) $ 833,000 $ (264,000) (Income) loss attributable to noncontrolling interest (22,000) (11,000) (40,000) (23,000) Net income (loss) applicable to common stockholders $ 2,551,000 $ (74,000) $ 793,000 $ (287,000) Denominator: Basic: Denominator for basic EPS - weighted average shares 23,027,978 23,027,978 23,027,978 23,027,978 Effect of dilutive shares: Stock options 525,628 — 525,628 — Denominator for diluted EPS – adjusted weighted average shares 23,553,606 23,027,978 23,553,606 23,027,978 Basic EPS $ 0.11 $ — $ 0.03 $ (0.01) Diluted EPS $ 0.11 $ — $ 0.03 $ (0.01)

Organization (Details)

Organization (Details)	1 Months Ended	6 Months Ended	12 Months Ended
Organization (Details)	Jun. 30, 2021USD ($)property	Jun. 30, 2021USD ($)property	Dec. 31, 2020USD ($)property
Organization [Line Items]
Equity method investment ownership percentage	10.00%	10.00%
Equity-method investments \| $	$ 7,821,000	$ 7,821,000	$ 11,375,000
Number of owned properties	17	17
Cornerstone Operating Partnership [Member]
Organization [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest		99.88%
Cornerstone Operating Partnership [Member] \| Cornerstone Realty Advisors, LLC [Member]
Organization [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest by Affiliates		0.12%
Cornerstone Healthcare Partners [Member]
Organization [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest		95.00%
Cornerstone Healthcare Real Estate Fund [Member]
Organization [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest by Affiliates		5.00%
JV Properties [Member]
Organization [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	4.70%	4.70%
Summit Union Life Holding [Member]
Organization [Line Items]
Real Estate Investment Trust Own Percentage		10.00%
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest by Affiliates		10.00%	10.00%
Number of owned properties	17	17	17
Four Jv Properties [Member]
Organization [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest		95.30%
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest by Affiliates		95.30%	95.30%
Fantasia III JV
Organization [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest by Affiliates		10.00%	10.00%
Number of owned properties	9	9	9
Summit Fantasy Pearl Holdings, LLC [Member]
Organization [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest		10.00%	10.00%
Number of owned properties	6	6	6
Fantasia II JV
Organization [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest by Affiliates		20.00%
Equity method investment ownership percentage	20.00%	20.00%	20.00%
Number of owned properties	2	2	2
Fantasia JV
Organization [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest		35.00%
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest by Affiliates		35.00%	35.00%
Number of owned properties	2	2	2
Summit Health Care Three Properties [Member]
Organization [Line Items]
Equity method investment ownership percentage	100.00%	100.00%
Indiana JV
Organization [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest	15.00%	15.00%
Equity method investment ownership percentage	0.00%	0.00%	15.00%
Equity-method investments \| $	$ 5,400,000	$ 5,400,000
Number of owned properties	14	14

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Restricted Cash (Details) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Cash and cash equivalents	$ 21,026,000		$ 14,658,000
Restricted cash	3,002,000		2,933,000
Total cash, cash equivalents, and restricted cash shown on the consolidated statements of cash flows	24,028,000	$ 17,837,000	$ 17,591,000	$ 16,077,000
Straight-line rents	(494,000)	$ 125,000
Pennington Gardens [Member]
Straight-line rents	400,000
Sundial Assisted Living [Member]
Straight-line rents	$ 100,000

Investments in Real Estate Pr_3

Investments in Real Estate Properties - Investments in real estate properties (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Real Estate Properties [Line Items]
Real estate properties, net	$ 44,166,000	$ 44,921,000
Land
Real Estate Properties [Line Items]
Real estate properties, net	6,237,000	6,237,000
Buildings and improvements
Real Estate Properties [Line Items]
Investments in real estate	48,295,000	48,295,000
Less: accumulated depreciation	(10,523,000)	(9,853,000)
Real estate properties, net	37,772,000	38,442,000
Furniture and fixtures
Real Estate Properties [Line Items]
Investments in real estate	4,230,000	4,230,000
Less: accumulated depreciation	(4,073,000)	(3,988,000)
Real estate properties, net	$ 157,000	$ 242,000

Investments in Real Estate Pr_4

Investments in Real Estate Properties - Summary information regarding portfolio (Details)	Jun. 30, 2021USD ($)
Real Estate Properties [Line Items]
Purchase Price	$ 57,265,000
Loans Payable, Excluding Debt Issuance Costs	46,669,000
Sheridan Care Center [Member]
Real Estate Properties [Line Items]
Purchase Price	4,100,000
Loans Payable, Excluding Debt Issuance Costs	4,250,000
Fernhill Care Center [Member]
Real Estate Properties [Line Items]
Purchase Price	4,500,000
Loans Payable, Excluding Debt Issuance Costs	3,729,000
Friendship Haven Healthcare and Rehabilitation Center [Member]
Real Estate Properties [Line Items]
Purchase Price	15,000,000
Loans Payable, Excluding Debt Issuance Costs	11,643,000
Pacific Health and Rehabilitation Center [Member]
Real Estate Properties [Line Items]
Purchase Price	8,140,000
Loans Payable, Excluding Debt Issuance Costs	6,216,000
Brookstone of Aledo [Member]
Real Estate Properties [Line Items]
Purchase Price	8,625,000
Loans Payable, Excluding Debt Issuance Costs	6,796,000
Sundial Assisted Living [Member]
Real Estate Properties [Line Items]
Purchase Price	3,500,000
Loans Payable, Excluding Debt Issuance Costs	3,766,000
Pennington Gardens [Member]
Real Estate Properties [Line Items]
Purchase Price	13,400,000
Loans Payable, Excluding Debt Issuance Costs	$ 10,269,000

Investments in Real Estate Pr_5

Investments in Real Estate Properties - Future Minimum Lease Payments (Details)	Jun. 30, 2021USD ($)
Investments in Real Estate Properties
July 1, 2021 to December 31, 2021	$ 2,057,000
2022	4,181,000
2023	4,264,000
2024	4,350,000
2025	4,437,000
Thereafter	15,441,000
Operating Leases, Future Minimum Payments Receivable	$ 34,730,000

Investments in Real Estate Pr_6

Investments in Real Estate Properties - Additional information (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Jul. 02, 2021
Real Estate Properties [Line Items]
Depreciation	$ 400,000	$ 400,000	$ 800,000	$ 800,000
Percentage of Real Estate Properties			100.00%
Deferred Costs	1,100,000		$ 1,100,000		$ 1,100,000
Unamortized balance of capitalized leasing commissions			500,000		$ 500,000
Amortization of Deferred Leasing Commissions	$ 18,000	$ 18,000	$ 35,000	$ 35,000
2021 Acquisitions [Member]
Real Estate Properties [Line Items]
Acquired properties amount						$ 20,000,000

Loans Payable - Debt (Details)

Loans Payable - Debt (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 46,669,000	$ 47,187,000
Less debt issuance costs	(1,879,000)	(1,913,000)
Total loans payable	44,790,000	45,274,000
Capital One Multifamily Finance LLC [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	10,269,000	10,330,000
Lument Capital (formerly ORIX Real Estate Capital, LLC) [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 36,400,000	$ 36,857,000

Loans Payable (Details) (Parent

Loans Payable (Details) (Parenthetical)	6 Months Ended
Loans Payable (Details) (Parenthetical)	Jun. 30, 2021USD ($)
Capital One Multifamily Finance LLC [Member]
Debt Instrument, Periodic Payment	$ 49,000
Debt Instrument, Interest Rate, Stated Percentage	4.23%
Lument Capital (formerly ORIX Real Estate Capital, LLC) [Member]
Debt Instrument, Periodic Payment	$ 183,000
Lument Capital (formerly ORIX Real Estate Capital, LLC) [Member] \| Minimum [Member]
Debt Instrument, Interest Rate, Stated Percentage	2.79%
Lument Capital (formerly ORIX Real Estate Capital, LLC) [Member] \| Maximum [Member]
Debt Instrument, Interest Rate, Stated Percentage	4.20%

Loans Payable - Maturities of l

Loans Payable - Maturities of long term debt (Details)	Jun. 30, 2021USD ($)
Loans Payable
July 1, 2021 to December 31, 2021	$ 543,000
2022	1,116,000
2023	1,158,000
2024	1,201,000
2025	1,246,000
Thereafter	41,405,000
Total	$ 46,669,000

Loans Payable - Additional info

Loans Payable - Additional information (Details) - USD ($)	3 Months Ended		6 Months Ended
Loans Payable - Additional information (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 46,669,000		$ 46,669,000		$ 47,187,000
Debt Instrument, Unamortized Discount	1,879,000		1,879,000		1,913,000
Amortization of Debt Discount (Premium)	16,000	$ 98,000	34,000	$ 132,000
Write-off of debt issuance costs		77,000	0	77,000
Interest Expense, Debt	500,000	$ 500,000	1,000,000	$ 1,100,000
Lument Capital (formerly ORIX Real Estate Capital, LLC) [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 36,400,000		$ 36,400,000		$ 36,857,000

Equity-Method Investments - Res

Equity-Method Investments - Results of Operations (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Schedule of Equity Method Investments [Line Items]
Revenue	$ 1,583,000	$ 1,903,000	$ 2,845,000	$ 3,836,000
Income (Loss) from Operations	346,000	5,954,000	2,261,000	11,853,000
Net Income (Loss)	2,551,000	(74,000)	793,000	(287,000)
Summit interest in Equity-Method Investments net income (loss)	(550,000)	137,000	(785,000)	167,000
Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
Schedule of Equity Method Investments [Line Items]
Revenue	7,968,000	12,344,000	18,190,000	24,670,000
Net Income (Loss)	(3,462,000)	1,324,000	(4,984,000)	1,466,000
SUL JV
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Operations	1,810,000	1,978,000	3,357,000	3,856,000
Summit interest in Equity-Method Investments net income (loss)	61,000	74,000	79,000	169,000
SUL JV \| Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
Schedule of Equity Method Investments [Line Items]
Revenue	5,091,000	4,600,000	10,267,000	9,150,000
Net Income (Loss)	609,000	741,000	787,000	1,696,000
Fantasia JV
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Operations	72,000	116,000	143,000	304,000
Summit interest in Equity-Method Investments net income (loss)	29,000	(20,000)	129,000	(28,000)
Fantasia JV \| Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
Schedule of Equity Method Investments [Line Items]
Revenue	951,000	1,022,000	1,881,000	2,074,000
Net Income (Loss)	82,000	(57,000)	369,000	(78,000)
Fantasia II JV
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Operations	479,000	484,000	964,000	991,000
Summit interest in Equity-Method Investments net income (loss)	49,000	48,000	98,000	102,000
Fantasia II JV \| Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
Schedule of Equity Method Investments [Line Items]
Revenue	921,000	890,000	1,841,000	1,782,000
Net Income (Loss)	243,000	242,000	492,000	508,000
Fantasia III JV
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Operations	1,020,000	1,104,000	2,057,000	2,141,000
Summit interest in Equity-Method Investments net income (loss)	49,000	57,000	102,000	97,000
Fantasia III JV \| Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
Schedule of Equity Method Investments [Line Items]
Revenue	2,057,000	2,000,000	4,113,000	4,000,000
Net Income (Loss)	492,000	566,000	1,007,000	966,000
FPH JV
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Operations	412,000	418,000	833,000	839,000
Summit interest in Equity-Method Investments net income (loss)	8,000	(5,000)	93,000	(140,000)
FPH JV \| Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
Schedule of Equity Method Investments [Line Items]
Revenue	893,000	886,000	1,783,000	1,771,000
Net Income (Loss)	81,000	(51,000)	928,000	(1,405,000)
Indiana JV
Schedule of Equity Method Investments [Line Items]
Income (Loss) from Operations	(3,447,000)	1,854,000	(5,093,000)	3,722,000
Summit interest in Equity-Method Investments net income (loss)	(746,000)	(17,000)	(1,286,000)	(33,000)
Indiana JV \| Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
Schedule of Equity Method Investments [Line Items]
Revenue	(1,945,000)	2,946,000	(1,695,000)	5,893,000
Net Income (Loss)	$ (4,969,000)	$ (117,000)	$ (8,567,000)	$ (221,000)

Equity-Method Investments - Dis

Equity-Method Investments - Distributions receivable (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Dividends Receivable	$ 725,000	$ 1,334,000
SUL JV
Dividends Receivable	268,000	466,000
Fantasia JV
Dividends Receivable	115,000	36,000
Fantasia II JV
Dividends Receivable	53,000	51,000
Fantasia III JV
Dividends Receivable	264,000	257,000
FPH JV
Dividends Receivable	$ 25,000	26,000
Indiana JV
Dividends Receivable		$ 498,000

Equity-Method Investments - Cas

Equity-Method Investments - Cash Distributions (Details) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Total Cash Distributions Received	$ 1,605,000	$ 979,000
Cash Flow from Operating Activities	355,000	339,000
Cash Flow from Investing Activities	1,250,000	640,000
SUL JV
Total Cash Distributions Received	484,000	235,000
Cash Flow from Operating Activities	79,000	169,000
Cash Flow from Investing Activities	405,000	66,000
Fantasia JV
Total Cash Distributions Received	0	144,000
Cash Flow from Operating Activities	0	0
Cash Flow from Investing Activities	0	144,000
Fantasia II JV
Total Cash Distributions Received	148,000	147,000
Cash Flow from Operating Activities	98,000	101,000
Cash Flow from Investing Activities	50,000	46,000
Fantasia III JV
Total Cash Distributions Received	123,000	69,000
Cash Flow from Operating Activities	101,000	69,000
Cash Flow from Investing Activities	22,000	0
FPH JV
Total Cash Distributions Received	77,000	84,000
Cash Flow from Operating Activities	77,000	0
Cash Flow from Investing Activities	0	84,000
Indiana JV
Total Cash Distributions Received	773,000	300,000
Cash Flow from Operating Activities	0	0
Cash Flow from Investing Activities	$ 773,000	$ 300,000

Equity-Method Investments - Add

Equity-Method Investments - Additional information (Details) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Equity Method Investments	$ 7,821,000	$ 7,821,000		$ 7,821,000		$ 11,375,000
Revenue from Contract with Customer, Including Assessed Tax		295,000	$ 292,000	624,000	$ 618,000
Summit Fantasia ll Holdings LLC [Member]
Revenue from Contract with Customer, Including Assessed Tax		300,000	$ 300,000	600,000	$ 600,000
Indiana JV
Equity Method Investments	0	0		0		3,500,000
Equity Method Investment, Amount Sold				5,400,000
Gain on Sale of Equity Investments		3,500,000		3,500,000
Indiana JV
Equity Method Investments	$ 5,400,000	5,400,000		$ 5,400,000
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest	15.00%			15.00%
Summit Union Life Holdings, LLC [Member]
Equity Method Investments	$ 2,500,000	2,500,000		$ 2,500,000		2,700,000
Minimum percentage of interest in annual return				9.00%
Percentage of interest in annual return				10.00%
Summit Union Life Holdings, LLC [Member] \| Best Years Llc [Member]
Net Operating Cash Flows, Percentage of Interest				75.00%
Capital Proceeds, Percentage of Interest				75.00%
Summit Union Life Holdings, LLC [Member] \| Operating Partnership [Member]
Net Operating Cash Flows, Percentage of Interest				25.00%
Capital Proceeds, Percentage of Interest				25.00%
Summit Fantasia Holdings Llc [Member]
Equity Method Investments	2,100,000	2,100,000		$ 2,100,000		2,000,000
Percentage of interest in annual return				8.00%
Summit Fantasia Holdings Llc [Member] \| Fantasia Investment III LLC [Member]
Net Operating Cash Flows, Percentage of Interest				50.00%
Capital Proceeds, Percentage of Interest				50.00%
Summit Fantasia Holdings Llc [Member] \| Operating Partnership [Member]
Net Operating Cash Flows, Percentage of Interest				50.00%
Capital Proceeds, Percentage of Interest				50.00%
Summit Fantasia ll Holdings LLC [Member]
Equity Method Investments	1,400,000	1,400,000		$ 1,400,000		1,400,000
Percentage of interest in annual return				8.00%
Summit Fantasia ll Holdings LLC [Member] \| Fantasia Investment III LLC [Member]
Net Operating Cash Flows, Percentage of Interest				70.00%
Capital Proceeds, Percentage of Interest				70.00%
Summit Fantasia ll Holdings LLC [Member] \| Operating Partnership [Member]
Net Operating Cash Flows, Percentage of Interest				30.00%
Capital Proceeds, Percentage of Interest				30.00%
Summit Fantasia Holdings III, LLC [Member]
Equity Method Investments	1,500,000	1,500,000		$ 1,500,000		1,600,000
Percentage of interest in annual return				9.00%
Summit Fantasia Holdings III, LLC [Member] \| Fantasia Investment III LLC [Member]
Net Operating Cash Flows, Percentage of Interest				75.00%
Capital Proceeds, Percentage of Interest				75.00%
Summit Fantasia Holdings III, LLC [Member] \| Operating Partnership [Member]
Net Operating Cash Flows, Percentage of Interest				25.00%
Capital Proceeds, Percentage of Interest				25.00%
Summit Fantasy Pearl Holdings, LLC [Member]
Equity Method Investments	$ 300,000	$ 300,000		$ 300,000		$ 200,000
Percentage of interest in annual return				9.00%
Summit Fantasy Pearl Holdings, LLC [Member] \| Fantasia Investment III LLC [Member]
Net Operating Cash Flows, Percentage of Interest				7.25%
Capital Proceeds, Percentage of Interest				7.25%
Summit Fantasy Pearl Holdings, LLC [Member] \| Summit Fantasy Pearl Holdings, LLC- Equity-Method Investment
Net Operating Cash Flows, Percentage of Interest				65.25%
Capital Proceeds, Percentage of Interest				65.25%
Summit Fantasy Pearl Holdings, LLC [Member] \| Atlantis [Member]
Net Operating Cash Flows, Percentage of Interest				7.50%
Capital Proceeds, Percentage of Interest				7.50%
Summit Fantasy Pearl Holdings, LLC [Member] \| Operating Partnership [Member]
Net Operating Cash Flows, Percentage of Interest				20.00%
Capital Proceeds, Percentage of Interest				20.00%

Receivables (Details)

Receivables (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Receivables
Straight-line rent receivables	$ 2,278,000	$ 2,772,000
Distributions receivable from Equity-Method Investments	725,000	1,334,000
Asset management fees	311,000	432,000
Other receivables	37,000	139,000
Total	$ 3,351,000	$ 4,677,000

Related Party Transactions (Det

Related Party Transactions (Details) - Cornerstone Realty Advisors, LLC [Member]	Jun. 30, 2021USD ($)
Receivables	$ 2,676,000
Reserves	(2,676,000)
Balance	0
Organizational and offering costs [Member]
Receivables	738,000
Reserves	(738,000)
Balance	0
Asset management fees and expenses [Member]
Receivables	32,000
Reserves	(32,000)
Balance	0
Operating expenses (direct and indirect) [Member]
Receivables	189,000
Reserves	(189,000)
Balance	0
Operating expenses (2%/25% Test) [Member]
Receivables	1,717,000
Reserves	(1,717,000)
Balance	$ 0

Concentration of Risk (Details)

Concentration of Risk (Details)	3 Months Ended		6 Months Ended
Concentration of Risk (Details)	Jun. 30, 2021propertytenant	Jun. 30, 2020propertytenant	Jun. 30, 2021tenantproperty	Jun. 30, 2020propertytenant
Concentration Risk [Line Items]
Number of owned properties	17		17
Number of owned properties helf by Equity Method Investment	36		36
Number of leased real estate properties	7	7	7	7
Number of tenants under long-term triple net leases \| tenant	5	5	5
Number of tenants represents more than 10% of our rental revenue \| tenant	3	4	3
Healthcare
Concentration Risk [Line Items]
Number of leased real estate properties		7		7
Number of tenants under long-term triple net leases \| tenant				5
Number of tenants represents more than 10% of our rental revenue \| tenant				4
Customer Concentration Risk [Member] \| Tenant [Member] \| Assets, Total [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage			20.00%
Customer Concentration Risk [Member] \| Tenant One [Member] \| Tenant One, Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage		10.00%		10.00%
Customer Concentration Risk [Member] \| Tenant Two [Member] \| Tenant Two, Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage		35.00%		35.00%
Customer Concentration Risk [Member] \| Tenant Three [Member] \| Tenant Three, Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage		24.00%		24.00%
Customer Concentration Risk [Member] \| Tenant Four [Member] \| Tenant Four Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage		19.00%		20.00%
Customer Concentration Risk [Member] \| Tenant Five [Member] \| Tenant Five Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage		15.00%		15.00%
California
Concentration Risk [Line Items]
Number of owned properties	1		1
Oregon
Concentration Risk [Line Items]
Number of owned properties	3		3
Texas
Concentration Risk [Line Items]
Number of owned properties	1		1
Illinois
Concentration Risk [Line Items]
Number of owned properties	1		1
Arizona
Concentration Risk [Line Items]
Number of owned properties	1		1

Fair Value Measurements of Fi_2

Fair Value Measurements of Financial Instruments (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of loans payable			$ 52,000,000	$ 52,600,000
Long-term Debt, Gross			$ 46,669,000	$ 47,187,000
Asset impairment charges	$ 0	$ 0
Minimum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair values utilized discount rates			2.80%
Maximum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair values utilized discount rates			4.20%
Weighted Average [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair values utilized discount rates			2.80%

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	Feb. 11, 2021	Mar. 14, 2019	Jun. 30, 2021
Commitments and Contingencies
Amount of monetary sanctions		$ 588,672
Purchased the investors' interests			$ 900,000
Amount of additional monetary sanction	$ 189,645

Equity - Stock options (Details

Equity - Stock options (Details)	6 Months Ended
Equity - Stock options (Details)	Jun. 30, 2021USD ($)$ / sharesshares
Equity
Options outstanding, Beginning Balance	1,871,908
Exercised	0
Options outstanding, Ending Balance	1,871,908
Options exercisable, Ending Balance	1,812,491
Weighted Average Exercise Price, Outstanding at Beginning Balance \| $ / shares	$ 2.09
Weighted Average Exercise Price, Outstanding at Ending Balance \| $ / shares	2.09
Weighted Average Exercise Price, Exercisable at Ending Balance \| $ / shares	$ 2.08
Options outstanding, Weighted Average Remaining Contractual Term	6 years 3 months 25 days
Options exercisable, Weighted Average Remaining Contractual Term	6 years 3 months 3 days
Options outstanding, Aggregate Intrinsic Value \| $	$ 1,524,000
Options exercisable, Aggregate Intrinsic Value \| $	$ 1,486,000

Equity - Unrecognized stock-bas

Equity - Unrecognized stock-based compensation expense (Details)	Jun. 30, 2021USD ($)
Schedule of Equity Method Investments [Line Items]
Unrecognized stock-based compensation expense related to unvested stock options, net of forfeitures	$ 35,000
July 1, 2021 to December 31, 2021
Schedule of Equity Method Investments [Line Items]
Unrecognized stock-based compensation expense related to unvested stock options, net of forfeitures	19,000
2022
Schedule of Equity Method Investments [Line Items]
Unrecognized stock-based compensation expense related to unvested stock options, net of forfeitures	15,000
2023
Schedule of Equity Method Investments [Line Items]
Unrecognized stock-based compensation expense related to unvested stock options, net of forfeitures	$ 1,000

Equity - Additional information

Equity - Additional information (Details) - USD ($)	3 Months Ended		6 Months Ended
Equity - Additional information (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Schedule of Equity [Line Items]
Weighted average grant date fair value (per share)	$ 0.59		$ 0.59
General and Administrative Expense [Member]
Schedule of Equity [Line Items]
Stock-based compensation expense	$ 11,000	$ 38,000	$ 47,000	$ 80,000

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($)	3 Months Ended		6 Months Ended
Earnings Per Share (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Numerator:
Income (loss)	$ 2,573,000	$ (63,000)	$ 833,000	$ (264,000)
(Income) loss attributable to noncontrolling interest	(22,000)	(11,000)	(40,000)	(23,000)
Net income (loss) applicable to common stockholders	$ 2,551,000	$ (74,000)	$ 793,000	$ (287,000)
Basic:
Denominator for basic EPS - weighted average shares	23,027,978	23,027,978	23,027,978	23,027,978
Effect of dilutive shares:
Stock options	525,628		525,628
Denominator for diluted EPS - adjusted weighted average shares	23,553,606	23,027,978	23,553,606	23,027,978
Basic EPS	$ 0.11		$ 0.03	$ (0.01)
Diluted EPS	$ 0.11	$ 0	$ 0.03	$ (0.01)

Subsequent Event (Details)

Subsequent Event (Details) - CA3 Properties - Subsequent Event [Member]	Jul. 02, 2021USD ($)facilityitem
Subsequent Event [Line Items]
Number of skilled nursing facilities acquired	3
Number of unrelated parties leased under acquisition \| item	3
Purchase price amount \| $	$ 20,055,000
Lease term under three separate triple net leases	15 years
1st Renewal Options
Subsequent Event [Line Items]
Lease renewal options	2 years
2nd Renewal Options
Subsequent Event [Line Items]
Lease renewal options	5 years
CIBC Bank
Subsequent Event [Line Items]
Principal amount of loan \| $	$ 15,000,000
Interest on loan with LIBOR	4.00%
Yucaipa, California
Subsequent Event [Line Items]
Number of skilled nursing facilities acquired	2
Mentone, California
Subsequent Event [Line Items]
Number of skilled nursing facilities acquired	1