Summit Healthcare REIT 10-Q 9 May 18 2018 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 04, 2018
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Entity Registrant Name	Summit Healthcare REIT, Inc
Entity Central Index Key	1,310,383
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		23,027,978

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents	$ 9,806,000	$ 3,851,000
Restricted cash	3,283,000	3,447,000
Real estate properties, net	69,094,000	69,063,000
Notes receivable	941,000	3,854,000
Deferred costs	7,000	9,000
Tenant and other receivables, net	4,053,000	4,106,000
Deferred leasing commissions, net	1,238,000	1,273,000
Other assets, net	246,000	225,000
Equity-method investments	9,091,000	9,241,000
Assets of Friendswood TRS held for sale	0	1,762,000
Total assets	97,759,000	96,831,000
LIABILITIES AND EQUITY
Accounts payable and accrued liabilities	2,325,000	1,902,000
Accrued salaries and benefits	50,000	96,000
Security deposits	1,208,000	1,208,000
Loans payable, net of debt issuance costs	62,648,000	60,831,000
Liabilities of Friendswood TRS held for sale	0	898,000
Total liabilities	66,231,000	64,935,000
Commitments and contingencies
Stockholders’ Equity
Preferred stock, $0.001 par value; 10,000,000 shares authorized; no shares issued or outstanding at March 31, 2018 and December 31, 2017	0	0
Common stock, $0.001 par value; 290,000,000 shares authorized; 23,027,978 shares issued and outstanding at March 31, 2018 and December 31, 2017	23,000	23,000
Additional paid-in capital	117,363,000	117,349,000
Accumulated deficit	(86,328,000)	(86,040,000)
Total stockholders’ equity	31,058,000	31,332,000
Noncontrolling interests	470,000	564,000
Total equity	31,528,000	31,896,000
Total liabilities and equity	$ 97,759,000	$ 96,831,000

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
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
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Rental revenues	$ 2,059,000	$ 1,423,000
Tenant reimbursements	282,000	189,000
Acquisition and asset management fees	187,000	178,000
Interest income from notes receivable	24,000	44,000
Revenues, Total	2,552,000	1,834,000
Expenses:
Property operating costs	353,000	292,000
General and administrative	1,089,000	1,231,000
Depreciation and amortization	795,000	730,000
Costs and Expenses, Total	2,237,000	2,253,000
Operating income (loss)	315,000	(419,000)
Income from equity-method investees	160,000	84,000
Other income	14,000	19,000
Interest expense	(1,069,000)	(689,000)
Gain on note receivable	186,000	0
Loss from continuing operations	(394,000)	(1,005,000)
Discontinued operations:
Gain on disposition of Friendswood TRS	109,000	0
Income from Friendswood TRS	0	505,000
Income from discontinued operations	109,000	505,000
Net loss	(285,000)	(500,000)
Noncontrolling interests' share in net income	(3,000)	(12,000)
Net loss applicable to common stockholders	$ (288,000)	$ (512,000)
Basic and diluted loss per common share:
Continuing operations	$ (0.02)	$ (0.04)
Discontinued operations	0	0.02
Net loss applicable to common stockholders	$ (0.02)	$ (0.02)
Weighted average shares used to calculate basic and diluted net loss per common share	23,027,978	23,027,978

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENT OF EQUITY - 3 months ended Mar. 31, 2018 - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total Stockholders' Equity [Member]	Noncontrolling Interests [Member]
Balance at Dec. 31, 2017	$ 31,896,000	$ 23,000	$ 117,349,000	$ (86,040,000)	$ 31,332,000	$ 564,000
Balance (in shares) at Dec. 31, 2017		23,027,978
Stock-based compensation	14,000	$ 0	14,000	0	14,000	0
Distributions paid to noncontrolling interests	(97,000)	0	0	0	0	(97,000)
Net (loss) income	(285,000)	0	0	(288,000)	(288,000)	3,000
Balance at Mar. 31, 2018	$ 31,528,000	$ 23,000	$ 117,363,000	$ (86,328,000)	$ 31,058,000	$ 470,000
Balance (in shares) at Mar. 31, 2018		23,027,978

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net loss	$ (285,000)	$ (500,000)
Adjustments to reconcile net loss to net cash provided by operating activities:
Amortization of debt issuance costs	71,000	34,000
Depreciation and amortization	795,000	743,000
Straight-line rents	(165,000)	(106,000)
Bad debt expense	0	46,000
Write-off of debt issuance costs	79,000	0
Stock-based compensation expense	14,000	31,000
Gain on disposition of Friendswood TRS	(109,000)	0
Gain on note receivable	(186,000)	0
Income from equity-method investees	(160,000)	(84,000)
Change in operating assets and liabilities:
Tenant and other receivables, net	364,000	154,000
Other assets	(21,000)	133,000
Accounts payable and accrued liabilities	422,000	(267,000)
Accrued salaries and benefits	(46,000)	(90,000)
Net cash provided by operating activities	773,000	94,000
Cash flows from investing activities:
Deferred costs and deposits	0	(3,000)
Real estate acquisition	(715,000)	0
Real estate additions	(74,000)	(5,000)
Investment in equity-method investees	(63,000)	(1,725,000)
Distributions received from equity-method investees	228,000	167,000
Payments from notes receivable	4,072,000	8,000
Net cash provided by (used in) investing activities	3,448,000	(1,558,000)
Cash flows from financing activities:
Proceeds from issuance notes payable	9,017,000	0
Payments of loans payable	(7,105,000)	(243,000)
Distributions paid to noncontrolling interests	(97,000)	(14,000)
Deferred financing costs	(245,000)	0
Net cash provided by (used in) financing activities	1,570,000	(257,000)
Net increase (decrease) in cash, cash equivalents and restricted cash	5,791,000	(1,721,000)
Cash, cash equivalents and restricted cash - beginning of period	7,298,000	14,563,000
Cash, cash equivalents and restricted cash - end of period (including cash of Friendswood TRS)	13,089,000	12,842,000
Cash of Friendswood TRS held for sale - end of period (see Note 12)	0	(279,000)
Cash, cash equivalents and restricted cash - end of period	13,089,000	12,563,000
Supplemental disclosure of cash flow information:
Cash paid for interest	$ 840,000	$ 587,000

Organization

Organization	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Organization Summit Healthcare REIT, Inc. (“Summit”) is a real estate investment trust that owns 100 95.3 95 10 20 10 10 We conduct substantially all of our operations through Summit Healthcare Operating Partnership, L.P. (the “Operating Partnership”), which is a Delaware limited partnership. We own a 99.88 0.12 Cornerstone Healthcare Partners LLC – Consolidated Joint Venture We own 95 5 As of March 31, 2018, we own a 95.3 4.7 95 5 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 in our condensed consolidated financial statements. As of March 31, 2018 and December 31, 2017, we have a 10 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 in our condensed consolidated financial statements. As of March 31, 2018 and December 31, 2017, we have a 20 In April 2018, we made an additional capital contribution of $ 1.25 35 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 in our condensed consolidated financial statements. As of March 31, 2018 and December 31, 2017, we have a 20 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 in the Company’s condensed consolidated financial statements. As of March 31, 2018 and December 31, 2017, we have a 10 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 will be accounted for under the equity-method in the Company’s condensed consolidated financial statements. As of March 31, 2018 and December 31, 2017, we have a 10 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 (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. Friendswood TRS Friendswood TRS (“Friendswood TRS”) was our wholly-owned TRS, and is the licensed operator and tenant of Friendship Haven Healthcare and Rehabilitation Center (“Friendship Haven”). Effective as of January 1, 2018, we assigned our interests in Friendswood TRS to HMG Park Manor of Friendswood, LLC (“HMG”), the current management company of Friendship Haven. See Note 12 for further information regarding the transaction and the classification of assets, liabilities and operations for Friendswood TRS as of December 31, 2017 and for the three months ended March 31, 2017.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	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 our Annual Report on Form 10-K for the year ended December 31, 2017 filed with the Securities and Exchange Commission (“SEC”) on March 16, 2018. 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, 2017 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, 2017 consolidated financial statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations contained in our Annual Report on Form 10-K for the year ended December 31, 2017 filed with the SEC on March 16, 2018 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, 2017 have been omitted in this report. The accompanying condensed consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, the Operating Partnership (of which the Company owns 99.88 95 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 months ended March 31, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018. Recently Adopted Accounting Pronouncements On January 1, 2018, the Company adopted the Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. The Company’s statements of cash flows for the three months ended March 31, 2017 has been retroactively restated for the effect of adopting this ASU, adding approximately $ 3.8 4.0 48,000 233,000 March 31, December 31, Cash and cash equivalents $ 9,806,000 $ 3,851,000 Restricted cash 3,283,000 3,447,000 Total cash, cash equivalents, and restricted cash shown on the condensed consolidated statements of cash flows $ 13,089,000 $ 7,298,000 On January 1, 2018, the Company adopted Revenue from Contracts with Customers (Topic 606) Acquisition fees arise from contractual agreements with our joint venture partners and are earned and paid at the time we close an acquisition, therefore, satisfying our performance obligations at that time. We earn our asset management fees based on a percentage of the purchase price or equity raised. As the manager, our duty is to manage the day-to-day operations of the special-purpose entities which own the properties. Asset management fees are recognized as a single performance obligation (managing the properties) comprised of a series of distinct services (handling issues with our tenants, etc.). We believe that the overall service of asset management is substantially the same each day and has the same pattern of performance over the term of the agreement. As a result, each day of service represents a performance obligation satisfied at that point in time. These fees are recognized at the end of each period for services performed during that period, billed monthly and paid quarterly. Revenue recognition for acquisition and asset management fees did not change under the new standard. The Company elected the modified retrospective transition method, however, no adjustments were required. In February 2016, the FASB issued ASU No. 2016-02, Leases Certain amounts related to the assets, liabilities and operations of Friendswood TRS have been reclassified in the Company’s condensed consolidated balance sheets and condensed consolidated statements of operations for prior year due to the classification of Friendswood TRS as held for sale (see Note 12). These reclassifications had no effect on total assets or liabilities or cash flows from operating activities. The reclassifications as of and for the three months ended March 31, 2017 increased our loss from continuing operations by $ 505,000 (500,000) (512,000) See above under Recently Adopted Accounting Pronouncements for reclassifications due to the adoption of ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash.

Investments in Real Estate Prop

Investments in Real Estate Properties	3 Months Ended
	Mar. 31, 2018
Real Estate [Abstract]
Real Estate Disclosure [Text Block]	3. Investments in Real Estate Properties March 31, 2018 December 31, Land $ 8,003,000 $ 7,318,000 Buildings and improvements 69,284,000 69,254,000 Less: accumulated depreciation (9,556,000) (9,012,000) Buildings and improvements, net 59,728,000 60,242,000 Furniture and fixtures 6,829,000 6,755,000 Less: accumulated depreciation (5,466,000) (5,252,000) Furniture and fixtures, net 1,363,000 1,503,000 Real estate properties, net $ 69,094,000 $ 69,063,000 For the three months ended March 31, 2018 and 2017, depreciation expense (excluding leasing commission amortization) was approximately $ 0.8 0.7 As of March 31, 2018, our portfolio consisted of 11 100 Property Location Date Purchased Type (1) Purchase Loans Number Sheridan Care Center Sheridan, OR August 3, 2012 SNF $ 4,100,000 $ 4,742,000 51 Fernhill Care Center Portland, OR August 3, 2012 SNF 4,500,000 4,160,000 63 Friendship Haven Healthcare and Rehabilitation Center Galveston County, TX September 14, 2012 SNF 15,000,000 9,017,000 150 Pacific Health and Rehabilitation Center Tigard, OR December 24, 2012 SNF 8,140,000 6,935,000 73 Danby House Winston-Salem, NC January 31, 2013 AL/MC 9,700,000 7,612,000 100 Brookstone of Aledo Aledo, IL July 2, 2013 AL 8,625,000 7,188,000 66 The Shelby House Shelby, NC October 4, 2013 AL 4,500,000 4,703,000 72 The Hamlet House Hamlet, NC October 4, 2013 AL 6,500,000 3,973,000 60 The Carteret House Newport, NC October 4, 2013 AL 4,300,000 3,352,000 64 Sundial Assisted Living Redding, CA December 18, 2013 AL 3,500,000 2,800,000 65 Pennington Gardens Chandler, AZ July 17, 2017 AL/MC 13,400,000 10,050,000 90 Total: $ 82,265,000 $ 64,532,000 854 (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 Years ending April 1, 2018 to December 31, 2018 $ 5,713,000 2019 7,740,000 2020 7,902,000 2021 8,068,000 2022 8,237,000 Thereafter 60,988,000 $ 98,648,000 2018 Acquisitions Land Purchase – Redding, CA On March 30, 2018, we purchased the land under the HP Redding facility, Sundial Assisted Living, for $ 685,000 30,000 36,000 2017 Acquisition - Chandler, AZ On July 17, 2017, we acquired a 100 13.4 52,000 1.8 10.9 750,000 15 Leasing Commissions As a self-managed REIT, we no longer pay leasing commissions. Leasing commissions are capitalized at cost and amortized on a straight-line basis over the related lease term. As of March 31, 2018 and December 31, 2017, total costs incurred were $ 1.9 1.2 1.3 35,000

Loans Payable

Loans Payable	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	4. Loans Payable March 31, 2018 December 31, 2017 Loan payable to CIBC Bank USA in monthly installments of approximately $60,000, including cash collateral and interest at LIBOR plus 3.75% (5.63% at March 31, 2018), due in March 2021, and collateralized by Friendship Haven. $ 9,017,000 $ - Loan payable to Capital One, National Association in monthly installments of approximately $36,000, including interest at LIBOR plus 2.95% (4.6% at March 31, 2018 and 4.3% at December 31, 2017), due in July 2018, and collateralized by Pennington Gardens. $ 10,050,000 $ 10,050,000 Loan payable to Healthcare Financial Solutions, LLC in monthly installments of approximately $18,000, including interest at LIBOR (floor of 0.50%) plus 4.0% (5.7% at March 31, 2018 and 5.3% at December 31, 2017, respectively), due in October 2018, and collateralized by Sundial Assisted Living. $ 2,800,000 $ 2,800,000 Loan payable to Oxford Finance, LLC in monthly installments of approximately $53,000, including interest at LIBOR (floor of 0.75%) plus 6.50% (8.1% as of December 31, 2017), was terminated in March 2018 and was collateralized by Friendship Haven as of December 31, 2017. - 6,880,000 Loans payable to Lancaster Pollard (insured by HUD) in monthly installments of approximately $209,000, including interest, ranging from a fixed rate of 3.70% to 3.78%, due in September 2039 through January 2051, and collateralized by Sheridan, Fernhill, Pacific Health, Shelby, Hamlet, Carteret, Aledo and Danby. 42,665,000 42,889,000 64,532,000 62,619,000 Less debt issuance costs (1,884,000) (1,788,000) Total loans payable $ 62,648,000 $ 60,831,000 As of March 31, 2018, we have total debt obligations of approximately $ 64.5 In connection with our loans payable, we incurred debt issuance costs. As of March 31, 2018 and December 31, 2017, the unamortized balance of the debt issuance costs was approximately $ 1.9 150,000 34,000 During the three months ended March 31, 2018 and 2017, we incurred approximately $ 0.9 0.7 Years Ending Principal April 1, 2018 to December 31, 2018 $ 13,705,000 2019 1,178,000 2020 1,224,000 2021 9,411,000 2022 1,063,000 Thereafter 37,951,000 $ 64,532,000 The following information describes our loan activity: CIBC Bank USA On March 30, 2018, CHP Friendswood SNF, LLC entered into $ 10,725,000 9.0 1.7 3.75 March 30, 2021 19,000 20,000 we will be required to pay a prepayment premium of 2% of the loan balance prior to the first anniversary and 1% thereafter through maturity 0.2 Capital One, National Association In July 2017, in conjunction with the acquisition of Pennington Gardens (see Note 3), we entered into a first priority $ 10.1 2.95 July 17, 2018 2 0.2 Healthcare Financial Solutions, LLC (a.k.a. Capital One) We have an amended loan agreement for the Sundial Assisted Living property located in Redding, California, with Healthcare Financial Solutions, LLC (“HFS”). See table above listing loans payable for further information. The loan was interest-only through January 2017 and commencing in February 2017, payments of approximately $ 5,000 18,000 Oxford Finance, LLC We had a secured term loan agreement with Oxford Finance, LLC collateralized by the Friendship Haven facility that was terminated on March 30, 2018. See table above listing loans payable for further information. As we prepaid the loan prior to the maturity date of October 2019, we paid an exit fee of $ 87,500 69,000 10,000 79,000 Lancaster Pollard Mortgage Company, LLC We have several properties with HUD-insured loans from the Lancaster Pollard Mortgage Company, LLC (“Lancaster Pollard”). See table above listing loans payable for further information. All of the 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, with respect to the facilities all as described in the HUD agreements. These reserves are included in restricted cash in our condensed consolidated balance sheets.

Equity-Method Investments

Equity-Method Investments	3 Months Ended
	Mar. 31, 2018
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments and Joint Ventures Disclosure [Text Block]	5. Equity-Method Investments As of March 31, 2018 and December 31, 2017, the balances of our Equity-Method Investments were approximately $ 9.1 9.2 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 will be distributed monthly, first to the Operating Partnership and Best Years pari passu 9 10 pari passu In April 2015, the Operating Partnership recorded a receivable for approximately $ 362,000 122,000 56,000 March 31, 2018 184,000 In April 2017, one of the JV 2 properties that owed Summit approximately $ 110,000 5,000 105,000 As of March 31, 2018 and December 31, 2017, the balance of our equity-method investment related to the SUL JV was approximately $ 3.6 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 will be distributed quarterly, first to the Operating Partnership and Fantasia pari passu pari passu As of March 31, 2018 and December 31, 2017, the balance of our equity-method investment related to the Fantasia JV was approximately $ 1.1 In April 2018, we made an additional capital contribution of $ 1.25 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 will be distributed quarterly, first to the Operating Partnership and Fantasia pari passu pari passu As of March 31, 2018 and December 31, 2017, the balance of our equity-method investment related to the Fantasia II JV was approximately $ 1.7 1.8 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 will be distributed quarterly, first to the Operating Partnership and Fantasia pari passu pari passu As of March 31, 2018 and December 31, 2017, the balance of our equity-method investment related to the Fantasia III JV was approximately $ 1.8 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 will be distributed quarterly, first to the members pari passu pari passu As of March 31, 2018 and December 31, 2017, the balance of our equity-method investment related to the FPH JV was approximately $ 0.9 Distributions from Equity-Method Investments March 31, December 31, SUL JV $ 168,000 $ 169,000 Fantasia JV 27,000 30,000 Fantasia II JV 38,000 58,000 Fantasia III JV 109,000 97,000 FPH JV 15,000 17,000 Total $ 357,000 $ 371,000 Three Months Ended March 31, 2018 Three Months Ended March 31, 2017 Total Cash Cash Flow Cash Flow Total Cash Cash Flow Cash Flow SUL JV $ 140,000 $ 72,000 $ 68,000 $ 206,000 $ 63,000 $ 143,000 Fantasia JV 45,000 2,000 43,000 31,000 7,000 24,000 Fantasia II JV 86,000 38,000 48,000 - - - Fantasia III JV 93,000 39,000 54,000 - - - FPH JV 24,000 9,000 15,000 - - - Total $ 388,000 $ 160,000 $ 228,000 $ 237,000 $ 70,000 $ 167,000 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 agreements. Additionally, we are paid an annual asset management fee for managing the properties held by our Equity-Method Investments, as defined in the agreements. For the three months ended March 31, 2018 and 2017, we recorded approximately $ 0.2

Receivables

Receivables	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	6. Receivables Notes Receivable Friendswood TRS Note The Operating Partnership entered into an amended and restated promissory note dated January 1, 2018 1.1 22,000 95,000 4.25 67,000 0.9 Fernhill Note In September 2014, we loaned approximately $ 140,000 6 30,000 38,000 Nantucket Note In 2015, through our Operating Partnership, we sold Sherburne Commons to The Residences at Sherburne Commons, Inc. (“Sherburne Buyer”), an unaffiliated Massachusetts non-profit corporation, in exchange for $ 5.0 In December 2017, we collected approximately $ 0.9 4.0 0.2 For the three months ended March 31, 2018 and 2017, we received interest payments from the note of approximately $ 18,000 44,000 Tenant and Other Receivables, Net March 31, December 31, Straight-line rent receivables $ 3,211,000 $ 3,046,000 Distribution receivables from Equity-Method Investments 357,000 371,000 Receivable from JV 2 properties 184,000 184,000 Asset management fees 177,000 170,000 Other receivables 124,000 335,000 Total $ 4,053,000 $ 4,106,000

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	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 March 31, 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 March 31, 2018 and December 31, 2017, 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). 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 Note 5 for further discussion of distributions and acquisition and asset management fees related to our Equity-Method Investments.

Concentration of Risk

Concentration of Risk	3 Months Ended
	Mar. 31, 2018
Risks and Uncertainties [Abstract]
Concentration Risk Disclosure [Text Block]	8. Concentration of Risk Our cash is generally invested in short-term money market instruments. As of March 31, 2018, 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 March 31, 2018, we owned one property in California, three properties in Oregon, four properties in North Carolina, 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 March 31, 2018, we leased our 11 real estate properties to four different tenants under long-term triple net leases, three of which comprise 42 24 17 As of March 31, 2018 and December 31, 2017, we have one tenant that constitutes a significant asset concentration, as the net assets of the tenant are approximately 33% of our total assets.

Fair Value Measurements of Fina

Fair Value Measurements of Financial Instruments	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	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, deposits, tenant and other receivables, certain other assets, accounts payable and accrued liabilities, accrued salaries and benefits, security deposits and loans payable. With the exception of the Nantucket note receivable (see Note 6) and 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 March 31, 2018 and December 31, 2017, the fair value of our loans payable was approximately $ 65.1 63.3 64.5 62.6 4.4 5.6 4.7 As of March 31, 2018, the fair value of the Friendswood TRS note receivable (see Note 6) was $ 0.9 0.9 4.7 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 months ended March 31, 2018 and 2017. At March 31, 2018 and December 31, 2017, 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	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	10. Commitments and Contingencies We conduct a Phase I assessment for each of our properties at acquisition to evaluate whether hazardous or toxic substances are present on the properties. 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. 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 directors and two of its 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 and trial has been scheduled to commence on August 20, 2018. We continue to believe that all of plaintiffs’ claims are without merit and will continue to vigorously defend ourselves. An involuntary 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”), and at that time, Summit held an interest in the same properties in which the Funds had an interest. 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 Summit became the manager of the Funds and purchased the investors’ interests in the Funds. 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 Summit 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. The appeal was fully briefed by the parties and is under submission for ruling by the District Court. The Bankruptcy Court has stayed all litigation on HCRE’s motion for damages pending resolution of the appeal on the complaint for violation of the automatic stay by the District Court. We believe that all of HCRE’s remaining alleged claims are without merit and will vigorously defend ourselves. Delbert Freeman and his company, Freescan Ventures, Inc. (collectively, “Freeman”), filed an action against us and Mr. Eikanas on December 21, 2017 for breach of contract arising out of the sale of the Athens project in Georgia. We originally guaranteed a lease for the development of the Athens project, which was ultimately sold to a third party in June of 2016, thereby releasing us from our obligation. Freeman sued for breach of contract based on an allegation that he was not paid profits he was promised from the proceeds of the project. Freeman is also alleging that he was promised consulting fees of $ 270,000 10,000 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, in September 2015, we entered into three-year employment agreements, as amended, with our officers which 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 managing the day-to-day operations and are, thus, subject to contingencies that may arise in the normal course of their operations. Additionally, we could be subject to a capital call from our Equity-Method Investments.

Equity

Equity	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	11. Equity 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 estimated fair value of our liabilities, which approximate book value, utilizing a discount for the fact that the shares are not currently traded on a national securities exchange and 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 evaluations of expected future exercise behavior. 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. On January 1, 2018, the Compensation Committee of the Board of Directors approved the issuance of 41,500 10 years 0.40 2018 Stock options granted 41,500 Expected Volatility 22.23 % Expected lives 3.0 years Risk-free interest rate 2.01 % Dividends 0 % Fair value per share $0.40 Options Weighted Weighted Aggregate Options outstanding at January 1, 2018 895,408 $ 1.90 Granted 41,500 2.24 Exercised — Cancelled/forfeited — Options outstanding at March 31, 2018 936,908 $ 1.92 8.43 $ 828,000 Options exercisable at March 31, 2018 705,896 $ 1.86 8.22 $ 663,000 0.33 Years Ending December 31, April 1, 2018 to December 31, 2018 $ 42,000 2019 27,000 2020 6,000 2021 1,000 $ 76,000 The stock-based compensation expense reported for the three months ended March 31, 2018 and 2017 was approximately $ 14,000 31,000

Dispositions

Dispositions	3 Months Ended
	Mar. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	12. Dispositions In accordance with ASC 360, Property, Plant &; Equipment Friendswood TRS Effective January 1, 2018, we assigned our interests in Friendswood TRS, the licensed operator and tenant of Friendship Haven, to HMG, the management company of Friendship Haven. Therefore, as of January 1, 2018, Friendswood TRS is no longer consolidated in our consolidated financial statements. The consolidated statement of operations for the three months ended March 31, 2017 has been restated to present the operations of Friendswood TRS as a discontinued operation. We made the decision to dispose of Friendswood TRS primarily because we are not in the business of operating facilities; we are in the business of acquiring senior housing facilities and leasing them to independent third party operators under triple-net leases. Friendswood TRS recorded the operations of Friendship Haven as resident services and fee income and resident services costs in their financial statements, which were then consolidated in our consolidated balance sheets and consolidated statements of operations and cash flows. The disposition represented a strategic shift to divest ourselves of being a tenant and licensed operator of our facilities, and had a material effect on the Company’s operations and financial results as we will no longer record resident services and fee income and resident services costs. Prior to January 1, 2018, HMG provided management services to Friendship Haven pursuant to a management agreement with Friendswood TRS. We do not have any continuing obligations under the management agreement as of January 1, 2018. Effective January 1, 2018, the new owners of Friendswood TRS entered into an Amended and Restated 10-year triple-net lease with two five-year renewal options, with CHP Friendswood SNF, LLC, our majority-owned consolidated subsidiary. Additionally, the Operating Partnership entered into an amended and restated promissory note with Friendswood TRS for approximately $ 1.1 22,000 95,000 4.25 March 31, Revenues: Resident services and fee income $ 2,304,000 Other revenues 1,000 2,305,000 Expenses: Property operating costs 139,000 Resident services costs 1,630,000 General and administrative 18,000 Depreciation and amortization 13,000 1,800,000 Income from discontinued operations $ 505,000 The assets and liabilities of the discontinued operations are presented separately under the captions “Assets of Friendswood TRS held for sale” and “Liabilities of Friendswood TRS held for sale,” respectively, in the accompanying condensed consolidated balance sheets at December 31, 2017 and consist of the following: December 31, ASSETS: Cash and cash equivalents $ 459,000 Real estate properties, net 320,000 Tenant and other receivables, net 947,000 Other assets 36,000 Total assets $ 1,762,000 LIABILITIES: Accounts payable and accrued liabilities 821,000 Accrued salaries and benefits 77,000 Total liabilities of property held for sale $ 898,000 For the three months ended March 31, 2017, total cash flows of the discontinued operations provided by operating activities was $ 299,000 20,000

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events [Text Block]	13. Subsequent Events Stock Option Grants On April 1, 2018, the Compensation Committee of the Board of Directors approved the issuance of 200,000 33 67 10 years On April 1, 2018, the Compensation Committee of the Board of Directors approved the issuance of 100,000 10 years Summit Fantasia Holdings, LLC In April 2018, we made an additional capital contribution of $ 1.25 As a result of this capital contribution, as of April 27, 2018, the Operating Partnership will have a 35% equity investment and each member will each receive a distribution of net operating cash flow and capital proceeds after the pari passu of 50% instead of 70% for Fantasia and 30% for the Operating Partnership.

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	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 (of which the Company owns 99.88 95 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 months ended March 31, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Restricted Cash On January 1, 2018, the Company adopted the Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. The Company’s statements of cash flows for the three months ended March 31, 2017 has been retroactively restated for the effect of adopting this ASU, adding approximately $ 3.8 4.0 48,000 233,000 March 31, December 31, Cash and cash equivalents $ 9,806,000 $ 3,851,000 Restricted cash 3,283,000 3,447,000 Total cash, cash equivalents, and restricted cash shown on the condensed consolidated statements of cash flows $ 13,089,000 $ 7,298,000
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition On January 1, 2018, the Company adopted Revenue from Contracts with Customers (Topic 606) Acquisition fees arise from contractual agreements with our joint venture partners and are earned and paid at the time we close an acquisition, therefore, satisfying our performance obligations at that time. We earn our asset management fees based on a percentage of the purchase price or equity raised. As the manager, our duty is to manage the day-to-day operations of the special-purpose entities which own the properties. Asset management fees are recognized as a single performance obligation (managing the properties) comprised of a series of distinct services (handling issues with our tenants, etc.). We believe that the overall service of asset management is substantially the same each day and has the same pattern of performance over the term of the agreement. As a result, each day of service represents a performance obligation satisfied at that point in time. These fees are recognized at the end of each period for services performed during that period, billed monthly and paid quarterly. Revenue recognition for acquisition and asset management fees did not change under the new standard. The Company elected the modified retrospective transition method, however, no adjustments were required.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases
Reclassification, Policy [Policy Text Block]	Reclassifications Certain amounts related to the assets, liabilities and operations of Friendswood TRS have been reclassified in the Company’s condensed consolidated balance sheets and condensed consolidated statements of operations for prior year due to the classification of Friendswood TRS as held for sale (see Note 12). These reclassifications had no effect on total assets or liabilities or cash flows from operating activities. The reclassifications as of and for the three months ended March 31, 2017 increased our loss from continuing operations by $ 505,000 (500,000) (512,000) See above under Recently Adopted Accounting Pronouncements for reclassifications due to the adoption of ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash.

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Restrictions on Cash and Cash Equivalents [Table Text Block]	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. March 31, December 31, Cash and cash equivalents $ 9,806,000 $ 3,851,000 Restricted cash 3,283,000 3,447,000 Total cash, cash equivalents, and restricted cash shown on the condensed consolidated statements of cash flows $ 13,089,000 $ 7,298,000

Investments in Real Estate Pr22

Investments in Real Estate Properties (Tables)	3 Months Ended
	Mar. 31, 2018
Real Estate [Abstract]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	As of March 31, 2018 and December 31, 2017, our investments in real estate properties including those held by our consolidated subsidiaries are set forth below: March 31, 2018 December 31, Land $ 8,003,000 $ 7,318,000 Buildings and improvements 69,284,000 69,254,000 Less: accumulated depreciation (9,556,000) (9,012,000) Buildings and improvements, net 59,728,000 60,242,000 Furniture and fixtures 6,829,000 6,755,000 Less: accumulated depreciation (5,466,000) (5,252,000) Furniture and fixtures, net 1,363,000 1,503,000 Real estate properties, net $ 69,094,000 $ 69,063,000
Schedule of Real Estate Properties [Table Text Block]	The following table provides summary information regarding our portfolio (excluding the 36 properties owned by our unconsolidated Equity-Method Investments) as of March 31, 2018: Property Location Date Purchased Type (1) Purchase Loans Number Sheridan Care Center Sheridan, OR August 3, 2012 SNF $ 4,100,000 $ 4,742,000 51 Fernhill Care Center Portland, OR August 3, 2012 SNF 4,500,000 4,160,000 63 Friendship Haven Healthcare and Rehabilitation Center Galveston County, TX September 14, 2012 SNF 15,000,000 9,017,000 150 Pacific Health and Rehabilitation Center Tigard, OR December 24, 2012 SNF 8,140,000 6,935,000 73 Danby House Winston-Salem, NC January 31, 2013 AL/MC 9,700,000 7,612,000 100 Brookstone of Aledo Aledo, IL July 2, 2013 AL 8,625,000 7,188,000 66 The Shelby House Shelby, NC October 4, 2013 AL 4,500,000 4,703,000 72 The Hamlet House Hamlet, NC October 4, 2013 AL 6,500,000 3,973,000 60 The Carteret House Newport, NC October 4, 2013 AL 4,300,000 3,352,000 64 Sundial Assisted Living Redding, CA December 18, 2013 AL 3,500,000 2,800,000 65 Pennington Gardens Chandler, AZ July 17, 2017 AL/MC 13,400,000 10,050,000 90 Total: $ 82,265,000 $ 64,532,000 854 (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 for Operating Leases [Table Text Block]	The future minimum lease payments to be received under existing operating leases owned as of March 31, 2018, for the period from April 1, 2018 to December 31, 2018 and for each of the four following years and thereafter ending December 31 are as follows: Years ending April 1, 2018 to December 31, 2018 $ 5,713,000 2019 7,740,000 2020 7,902,000 2021 8,068,000 2022 8,237,000 Thereafter 60,988,000 $ 98,648,000

Loans Payable (Tables)

Loans Payable (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	As of March 31, 2018 and December 31, 2017, our loans payable consisted of the following: March 31, 2018 December 31, 2017 Loan payable to CIBC Bank USA in monthly installments of approximately $60,000, including cash collateral and interest at LIBOR plus 3.75% (5.63% at March 31, 2018), due in March 2021, and collateralized by Friendship Haven. $ 9,017,000 $ - Loan payable to Capital One, National Association in monthly installments of approximately $36,000, including interest at LIBOR plus 2.95% (4.6% at March 31, 2018 and 4.3% at December 31, 2017), due in July 2018, and collateralized by Pennington Gardens. $ 10,050,000 $ 10,050,000 Loan payable to Healthcare Financial Solutions, LLC in monthly installments of approximately $18,000, including interest at LIBOR (floor of 0.50%) plus 4.0% (5.7% at March 31, 2018 and 5.3% at December 31, 2017, respectively), due in October 2018, and collateralized by Sundial Assisted Living. $ 2,800,000 $ 2,800,000 Loan payable to Oxford Finance, LLC in monthly installments of approximately $53,000, including interest at LIBOR (floor of 0.75%) plus 6.50% (8.1% as of December 31, 2017), was terminated in March 2018 and was collateralized by Friendship Haven as of December 31, 2017. - 6,880,000 Loans payable to Lancaster Pollard (insured by HUD) in monthly installments of approximately $209,000, including interest, ranging from a fixed rate of 3.70% to 3.78%, due in September 2039 through January 2051, and collateralized by Sheridan, Fernhill, Pacific Health, Shelby, Hamlet, Carteret, Aledo and Danby. 42,665,000 42,889,000 64,532,000 62,619,000 Less debt issuance costs (1,884,000) (1,788,000) Total loans payable $ 62,648,000 $ 60,831,000
Schedule of Maturities of Long-term Debt [Table Text Block]	The principal payments due on the loans payable (excluding debt issuance costs) for the period from April 1, 2018 to December 31, 2018 and for each of the four following years and thereafter ending December 31 are as follows: Years Ending Principal April 1, 2018 to December 31, 2018 $ 13,705,000 2019 1,178,000 2020 1,224,000 2021 9,411,000 2022 1,063,000 Thereafter 37,951,000 $ 64,532,000

Equity-Method Investments (Tabl

Equity-Method Investments (Tables)	3 Months Ended
	Mar. 31, 2018
Schedule Of Distribution From Equity Method Investments [Table Text Block]	As of March 31, 2018 and December 31, 2017, we have distributions receivable, which is included in tenant and other receivables in our condensed consolidated balance sheets, as follows: March 31, December 31, SUL JV $ 168,000 $ 169,000 Fantasia JV 27,000 30,000 Fantasia II JV 38,000 58,000 Fantasia III JV 109,000 97,000 FPH JV 15,000 17,000 Total $ 357,000 $ 371,000
Schedule Of Cash Distributions Included In Cash Flows From Operating And Investing Activities [Table Text Block]	For the three months ended March 31, 2018 and 2017, 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: Three Months Ended March 31, 2018 Three Months Ended March 31, 2017 Total Cash Cash Flow Cash Flow Total Cash Cash Flow Cash Flow SUL JV $ 140,000 $ 72,000 $ 68,000 $ 206,000 $ 63,000 $ 143,000 Fantasia JV 45,000 2,000 43,000 31,000 7,000 24,000 Fantasia II JV 86,000 38,000 48,000 - - - Fantasia III JV 93,000 39,000 54,000 - - - FPH JV 24,000 9,000 15,000 - - - Total $ 388,000 $ 160,000 $ 228,000 $ 237,000 $ 70,000 $ 167,000

Receivables (Tables)

Receivables (Tables)	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	Tenant and other receivables, net consists of: March 31, December 31, Straight-line rent receivables $ 3,211,000 $ 3,046,000 Distribution receivables from Equity-Method Investments 357,000 371,000 Receivable from JV 2 properties 184,000 184,000 Asset management fees 177,000 170,000 Other receivables 124,000 335,000 Total $ 4,053,000 $ 4,106,000

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Schedule of Related Party Transactions [Table Text Block]	As of March 31, 2018 and December 31, 2017, we had the following receivables and reserves: 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)	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	The estimated fair value using the Black-Scholes option-pricing model with the following weighted average assumptions: 2018 Stock options granted 41,500 Expected Volatility 22.23 % Expected lives 3.0 years Risk-free interest rate 2.01 % Dividends 0 % Fair value per share $0.40
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	The following table summarizes our stock options as of March 31, 2018: Options Weighted Weighted Aggregate Options outstanding at January 1, 2018 895,408 $ 1.90 Granted 41,500 2.24 Exercised — Cancelled/forfeited — Options outstanding at March 31, 2018 936,908 $ 1.92 8.43 $ 828,000 Options exercisable at March 31, 2018 705,896 $ 1.86 8.22 $ 663,000
Schedule of Unrecognized Compensation Cost, Nonvested Awards [Table Text Block]	For our outstanding non-vested options as of March 31, 2018, the weighted average grant date fair value per share was $ 0.33 Years Ending December 31, April 1, 2018 to December 31, 2018 $ 42,000 2019 27,000 2020 6,000 2021 1,000 $ 76,000

Dispositions (Tables)

Dispositions (Tables)	3 Months Ended
	Mar. 31, 2018
Disposal Groups, Including Discontinued Operations [Table Text Block]	The income from discontinued operations presented in the consolidated statements of operations related to Friendswood TRS consisted of the following for the three months ended March 31, 2017: March 31, Revenues: Resident services and fee income $ 2,304,000 Other revenues 1,000 2,305,000 Expenses: Property operating costs 139,000 Resident services costs 1,630,000 General and administrative 18,000 Depreciation and amortization 13,000 1,800,000 Income from discontinued operations $ 505,000 The assets and liabilities of the discontinued operations are presented separately under the captions “Assets of Friendswood TRS held for sale” and “Liabilities of Friendswood TRS held for sale,” respectively, in the accompanying condensed consolidated balance sheets at December 31, 2017 and consist of the following: December 31, ASSETS: Cash and cash equivalents $ 459,000 Real estate properties, net 320,000 Tenant and other receivables, net 947,000 Other assets 36,000 Total assets $ 1,762,000 LIABILITIES: Accounts payable and accrued liabilities 821,000 Accrued salaries and benefits 77,000 Total liabilities of property held for sale $ 898,000

Organization (Details Textual)

Organization (Details Textual) - USD ($)	Apr. 01, 2018	Mar. 31, 2018	Mar. 31, 2017	Apr. 30, 2018	Dec. 31, 2017
Organization [Line Items]
Equity Method Investment, Ownership Percentage		10.00%
Payments to Acquire Equity Method Investments		$ 63,000	$ 1,725,000
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%
Summit Union Life Holding [Member]
Organization [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest		10.00%
Summit Healthcare Five Properties One [Member]
Organization [Line Items]
Real Estate Investment Trust Owne Percentage		100.00%
Summit Healthcare Five Properties Two [Member]
Organization [Line Items]
Real Estate Investment Trust Owne Percentage		95.00%
Five Jv Propertie [Member] | Chref One [Member]
Organization [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest		95.00%
Five Jv Propertie [Member] | Chref Two [Member]
Organization [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		5.00%
Four Jv Propertie [Member]
Organization [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest		95.30%
Summit Health Care Two Properties [Member]
Organization [Line Items]
Equity Method Investment, Ownership Percentage		20.00%
Summit Fantasia Holdings Llc [Member]
Organization [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest		20.00%
Fantasia Three Jv [Member]
Organization [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest		10.00%
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest by Affiliates		10.00%
Fantasia Two Jv [Member]
Organization [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest by Affiliates		20.00%
Summit Fantasy Pearl Holdings, LLC [Member]
Organization [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest by Affiliates		10.00%
Fantasia JV [Member]
Organization [Line Items]
Equity Method Investment, Ownership Percentage					10.00%
Fantasia JV [Member] | Subsequent Event [Member]
Organization [Line Items]
Payments to Acquire Equity Method Investments	$ 1,250,000
Fantasia JV [Member] | Subsequent Event [Member] | Operating Partnership [Member]
Organization [Line Items]
Equity Method Investment, Ownership Percentage				35.00%

Summary of Significant Accoun30

Summary of Significant Accounting Policies (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Cash and cash equivalents	$ 9,806,000	$ 3,851,000
Restricted cash	3,283,000	3,447,000
Total cash, cash equivalents, and restricted cash shown on the condensed consolidated statements of cash flows	$ 13,089,000	$ 7,298,000	$ 12,563,000

Summary of Significant Accoun31

Summary of Significant Accounting Policies (Details Textual) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2016
Summary of Significant Accounting Policies [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	95.00%
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent		$ 505,000
Net Income (Loss) Available to Common Stockholders, Basic		(512,000)
Net Income (Loss), Including Portion Attributable To Noncontrolling Interest	$ (285,000)	(500,000)
New Accounting Pronouncement or Change in Accounting Principle Decrease In Cash, Cash Equivalents And Restricted Cash Operating Activity		48,000
New Accounting Pronouncement or Change in Accounting Principle Decrease in Cash, Cash Equivalents and Restricted Cash Investing Activities		233,000
Adjustments for New Accounting Pronouncement [Member]
Summary of Significant Accounting Policies [Line Items]
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect		$ 4,000,000	$ 3,800,000
Operating Partnership [Member]
Summary of Significant Accounting Policies [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	99.88%

Investments in Real Estate Pr32

Investments in Real Estate Properties (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Real Estate Properties [Line Items]
Real estate properties, net	$ 69,094,000	$ 69,063,000
Land [Member]
Real Estate Properties [Line Items]
Real estate properties, net	8,003,000	7,318,000
Buildings and improvements
Real Estate Properties [Line Items]
Investments in real estate	69,284,000	69,254,000
Less: accumulated depreciation	(9,556,000)	(9,012,000)
Real estate properties, net	59,728,000	60,242,000
Furniture and Fixture [Member]
Real Estate Properties [Line Items]
Investments in real estate	6,829,000	6,755,000
Less: accumulated depreciation	(5,466,000)	(5,252,000)
Real estate properties, net	$ 1,363,000	$ 1,503,000

Investments in Real Estate Pr33

Investments in Real Estate Properties (Details 1)	3 Months Ended
	Mar. 31, 2018USD ($)
Real Estate Properties [Line Items]
Purchase Price	$ 82,265,000
Loans Payable, excluding debt discounts	$ 64,532,000
Number Of Beds	854
Sheridan Care Center [Member]
Real Estate Properties [Line Items]
Location	Sheridan, OR
Date Purchased	Aug. 3, 2012
Type Of property	SNF	[1]
Purchase Price	$ 4,100,000
Loans Payable, excluding debt discounts	$ 4,742,000
Number Of Beds	51
Fern Hill Care Center [Member]
Real Estate Properties [Line Items]
Location	Portland, OR
Date Purchased	Aug. 3, 2012
Type Of property	SNF	[1]
Purchase Price	$ 4,500,000
Loans Payable, excluding debt discounts	$ 4,160,000
Number Of Beds	63
Friendship Haven Healthcare and Rehabilitation Center [Member]
Real Estate Properties [Line Items]
Location	Galveston County, TX
Date Purchased	Sep. 14, 2012
Type Of property	SNF	[1]
Purchase Price	$ 15,000,000
Loans Payable, excluding debt discounts	$ 9,017,000
Number Of Beds	150
Pacific Health and Rehabilitation Center [Member]
Real Estate Properties [Line Items]
Location	Tigard, OR
Date Purchased	Dec. 24, 2012
Type Of property	SNF	[1]
Purchase Price	$ 8,140,000
Loans Payable, excluding debt discounts	$ 6,935,000
Number Of Beds	73
Danby House [Member]
Real Estate Properties [Line Items]
Location	Winston-Salem, NC
Date Purchased	Jan. 31, 2013
Type Of property	AL/MC	[1]
Purchase Price	$ 9,700,000
Loans Payable, excluding debt discounts	$ 7,612,000
Number Of Beds	100
Brookstone of Aledo [Member]
Real Estate Properties [Line Items]
Location	Aledo, IL
Date Purchased	Jul. 2, 2013
Type Of property	AL	[1]
Purchase Price	$ 8,625,000
Loans Payable, excluding debt discounts	$ 7,188,000
Number Of Beds	66
The Shelby House [Member]
Real Estate Properties [Line Items]
Location	Shelby, NC
Date Purchased	Oct. 4, 2013
Type Of property	AL	[1]
Purchase Price	$ 4,500,000
Loans Payable, excluding debt discounts	$ 4,703,000
Number Of Beds	72
The Hamlet House [Member]
Real Estate Properties [Line Items]
Location	Hamlet, NC
Date Purchased	Oct. 4, 2013
Type Of property	AL	[1]
Purchase Price	$ 6,500,000
Loans Payable, excluding debt discounts	$ 3,973,000
Number Of Beds	60
The Carteret House [Member]
Real Estate Properties [Line Items]
Location	Newport, NC
Date Purchased	Oct. 4, 2013
Type Of property	AL	[1]
Purchase Price	$ 4,300,000
Loans Payable, excluding debt discounts	$ 3,352,000
Number Of Beds	64
Sundial Assisted Living [Member]
Real Estate Properties [Line Items]
Location	Redding, CA
Date Purchased	Dec. 18, 2013
Type Of property	AL	[1]
Purchase Price	$ 3,500,000
Loans Payable, excluding debt discounts	$ 2,800,000
Number Of Beds	65
Pennington Gardens [Member]
Real Estate Properties [Line Items]
Location	Chandler, AZ
Date Purchased	Jul. 17, 2017
Type Of property	AL/MC	[1]
Purchase Price	$ 13,400,000
Loans Payable, excluding debt discounts	$ 10,050,000
Number Of Beds	90
[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.

Investments in Real Estate Pr34

Investments in Real Estate Properties (Details 2)	Mar. 31, 2018USD ($)
Real Estate Properties [Line Items]
April 1, 2018 to December 31, 2018	$ 5,713,000
2,019	7,740,000
2,020	7,902,000
2,021	8,068,000
2,022	8,237,000
Thereafter	60,988,000
Operating Leases, Future Minimum Payments Receivable	$ 98,648,000

Investments in Real Estate Pr35

Investments in Real Estate Properties (Details Textual)	1 Months Ended	3 Months Ended
	Jul. 17, 2017USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)
Real Estate Properties [Line Items]
Number of Real Estate Properties		11
Percentage of Real Estate Properties		100.00%
Depreciation		$ 800,000	$ 700,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Land	$ 1,800,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Buildings	$ 10,900,000
Payments to Acquire Land		685,000
Acquisition Costs, Period Cost		30,000
Increase In Annual Rental Payments		36,000
Deferred Costs, Leasing, Net, Total		1,238,000		$ 1,273,000
Amortization of Deferred Leasing Commissions		35,000	$ 35,000
Deferred Costs		$ 1,900,000		$ 1,900,000
Pennington Gardens [Member]
Real Estate Properties [Line Items]
Lessor Leasing Arrangements, Operating Leases, Term of Contract	15 years
Business Acquisition, Percentage of Voting Interests Acquired	100.00%
Business Combination, Consideration Transferred	$ 13,400,000
Business Combination, Acquisition Related Costs	52,000
Furniture and Fixtures [Member] | Pennington Gardens [Member]
Real Estate Properties [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	$ 750,000

Loans Payable (Details)

Loans Payable (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 64,532,000	$ 62,619,000
Less debt issuance costs	(1,884,000)	(1,788,000)
Total loans payable	62,648,000	60,831,000
General Electric Capital Corporation [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	10,050,000	10,050,000
Lancaster Pollard Mortgage Company, LLC [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	42,665,000	42,889,000
Oxford Finance, LLC [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	2,800,000	2,800,000
Housing and Healthcare Finance [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	0	6,880,000
Cibc Bank [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 9,017,000	$ 0

Loans Payable (Details) _Parent

Loans Payable (Details) [Parenthetical] - USD ($)	1 Months Ended	3 Months Ended
	Jul. 31, 2017	Mar. 31, 2018
Capital One National Association Loan [Member]
Debt Instrument, Periodic Payment		$ 36,000
Debt Instrument, Basis Spread on Variable Rate	2.95%
Healthcare Financial Solutions Llc [Member]
Debt Instrument, Periodic Payment		18,000
Oxford Finance, LLC [Member]
Debt Instrument, Periodic Payment		53,000
Lancaster Pollard Mortgage Company, LLC Sheridan Loan [Member]
Debt Instrument, Periodic Payment		209,000
Cibc Bank [Member]
Debt Instrument, Periodic Payment		$ 60,000
Debt Instrument, Description of Variable Rate Basis		LIBOR plus 3.75%
Debt Instrument, Basis Spread on Variable Rate		3.75%
Debt Instrument, Interest Rate, Stated Percentage		5.63%
Debt Instrument, Maturity Date, Description		due in March 2021

Loans Payable (Details 1)

Loans Payable (Details 1)	Mar. 31, 2018USD ($)
Debt Instrument [Line Items]
April 1, 2018 to December 31, 2018	$ 13,705,000
2,019	1,178,000
2,020	1,224,000
2,021	9,411,000
2,022	1,063,000
Thereafter	37,951,000
Total	$ 64,532,000

Loans Payable (Details Textual)

Loans Payable (Details Textual) - USD ($)	1 Months Ended		3 Months Ended
	Apr. 16, 2018	Jul. 31, 2017	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017	Mar. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Amortization Of Financing Costs					$ 71,000	$ 34,000
Interest Expense, Debt					900,000	700,000
Long-term Debt, Gross					64,532,000			$ 62,619,000
Debt Instrument, Unamortized Discount					1,884,000			1,788,000
Amortization of Debt Discount (Premium)					150,000	34,000
Proceeds From Notes Payable					9,017,000	$ 0
Prepaid Penalty					69,000
Prepaid Penalty One					10,000
Hfs Formerly Ge Capital [Member]
Debt Instrument [Line Items]
Debt Instrument, Periodic Payment					5,000
Capital One National Association Loan [Member]
Debt Instrument [Line Items]
Debt Instrument, Periodic Payment					$ 36,000
Debt Instrument, Face Amount		$ 10,100,000
Debt Instrument, Maturity Date		Jul. 17, 2018
Debt Instrument, Basis Spread on Variable Rate		2.95%
Payments of Financing Costs		$ 200,000
Debt Extinguishment Percentage					2.00%
Cibc Bank [Member]
Debt Instrument [Line Items]
Debt Instrument, Periodic Payment					$ 60,000
Debt Instrument, Interest Rate, Stated Percentage					5.63%
Debt Instrument, Maturity Date					Mar. 30, 2021
Long-term Debt, Gross					$ 9,017,000			$ 0
Debt Instrument, Basis Spread on Variable Rate					3.75%
Payments of Financing Costs					$ 200,000
Long-term Debt, Fair Value							$ 10,725,000
Proceeds From Notes Payable					$ 9,000,000
Debt Instrument, Redemption, Description					we will be required to pay a prepayment premium of 2% of the loan balance prior to the first anniversary and 1% thereafter through maturity
Cibc Bank [Member] | Scenario, Forecast [Member]
Debt Instrument [Line Items]
Debt Instrument, Periodic Payment			$ 20,000	$ 19,000
Cibc Bank [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Proceeds From Notes Payable	$ 1,700,000
Cibc Bank [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage							3.75%
Oxford Finance [Member]
Debt Instrument [Line Items]
Amortization Of Financing Costs					$ 79,000
Payment for Debt Extinguishment or Debt Prepayment Cost					$ 87,500

Equity-Method Investments (Deta

Equity-Method Investments (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Dividends Receivable	$ 357,000	$ 371,000
SUL JV
Dividends Receivable	168,000	169,000
Fantasia JV
Dividends Receivable	27,000	30,000
Fantasia II JV
Dividends Receivable	38,000	58,000
Fantasia III JV
Dividends Receivable	109,000	97,000
FPH JV
Dividends Receivable	$ 15,000	$ 17,000

Equity-Method Investments (De41

Equity-Method Investments (Details 1) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Total Cash Distributions Received	$ 388,000	$ 237,000
Cash Flow from Operating	160,000	70,000
Cash Flow from Investing	228,000	167,000
SUL JV
Total Cash Distributions Received	140,000	206,000
Cash Flow from Operating	72,000	63,000
Cash Flow from Investing	68,000	143,000
Fantasia JV
Total Cash Distributions Received	45,000	31,000
Cash Flow from Operating	2,000	7,000
Cash Flow from Investing	43,000	24,000
Fantasia II JV
Total Cash Distributions Received	86,000	0
Cash Flow from Operating	38,000	0
Cash Flow from Investing	48,000	0
Fantasia III JV
Total Cash Distributions Received	93,000	0
Cash Flow from Operating	39,000	0
Cash Flow from Investing	54,000	0
FPH JV
Total Cash Distributions Received	24,000	0
Cash Flow from Operating	9,000	0
Cash Flow from Investing	$ 15,000	$ 0

Equity-Method Investments (De42

Equity-Method Investments (Details Textual) - USD ($)	Apr. 01, 2018	Apr. 30, 2017	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Apr. 30, 2018	Apr. 30, 2015
Equity Method Investment, Ownership Percentage			10.00%
Equity Method Investments			$ 9,091,000		$ 9,241,000
Dividends Receivable			357,000		371,000
Proceeds from Dividends Received			$ 160,000	$ 70,000
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net					947,000
Summit Fantasia Holdings III, LLC [Member]
Limited Liability Company or Limited Partnership, Managing Member or General Partner, Compensation			Under the FPH LLC Agreement, net operating cash flow of the FPH JV will be distributed quarterly, first to the members pari passu until each member has received an amount equal to its accrued, but unpaid 9% return, and thereafter 65.25% to Fantasy, 7.5% to Atlantis, 7.25% to Fantasia and 20% to the Operating Partnership. All capital proceeds from the sale of the properties held by the FPH JV, a refinancing or another capital event, will be paid to the members pari passu until each has received an amount equal to its accrued but unpaid 9% return plus its total capital contribution, and thereafter 65.25% to Fantasy, 7.5% to Atlantis, 7.25% to Fantasia, and 20% to the Operating Partnership.
Equity Method Investments			$ 1,800,000		1,800,000
SUL JV acquired [Member]
Limited Liability Company or Limited Partnership, Managing Member or General Partner, Compensation			Under the SUL LLC Agreement, net operating cash flow of the SUL JV will be distributed monthly, first to the Operating Partnership and Best Years pari passu up to a 9% to 10% annual return, as defined, and thereafter to Best Years 75% and the Operating Partnership 25%. All capital proceeds from the sale of the properties held by the SUL JV, a refinancing or another capital event will be paid first to the Operating Partnership and Best Years pari passu until each has received an amount equal to its accrued but unpaid 9% to 10% return plus its total contribution, and thereafter to Best Years 75% and the Operating Partnership 25%.
Proceeds from Dividends Received		$ 122,000
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net			$ 105,000		312,018
Summit Fantasia ll Holdings LLC [Member]
Limited Liability Company or Limited Partnership, Managing Member or General Partner, Compensation			Under the Fantasia II LLC Agreement, net operating cash flow of the Fantasia JV will be distributed quarterly, first to the Operating Partnership and Fantasia pari passu until each member has received an amount equal to its accrued, but unpaid 8% return, and thereafter 70% to Fantasia and 30% to the Operating Partnership. All capital proceeds from the sale of the properties held by the Fantasia II JV, a refinancing or another capital event, will be paid first to the Operating Partnership and Fantasia pari passu until each has received an amount equal to its accrued but unpaid 8% return plus its total capital contribution, and thereafter 70% to Fantasia and 30% to the Operating Partnership.
Asset Management Fees			$ 200,000	$ 200,000
Equity Method Investments			$ 1,700,000		1,800,000
Summit Fantasia Holdings Llc [Member]
Limited Liability Company or Limited Partnership, Managing Member or General Partner, Compensation			Under the Fantasia LLC Agreement, net operating cash flow of the Fantasia JV will be distributed quarterly, first to the Operating Partnership and Fantasia pari passu until each member has received an amount equal to its accrued, but unpaid 8% return, and thereafter 70% to Fantasia and 30% to the Operating Partnership. All capital proceeds from the sale of the properties held by the Fantasia JV, a refinancing or another capital event, will be paid first to the Operating Partnership and Fantasia pari passu until each has received an amount equal to its accrued but unpaid 8% return plus its total capital contribution, and thereafter 70% to Fantasia and 30% to the Operating Partnership.
Equity Method Investments			$ 1,100,000		1,100,000
Summit Fantasia Holdings Llc [Member] | Subsequent Event [Member]
Limited Liability Company or Limited Partnership, Managing Member or General Partner, Compensation	As a result of this capital contribution, as of April 27, 2018, the Operating Partnership will have a 35% equity investment and each member will each receive a distribution of net operating cash flow and capital proceeds after the pari passu of 50% instead of 70% for Fantasia and 30% for the Operating Partnership
Additional Paid in Capital						$ 1,250,000
Summit Fantasy Pearl Holdings, LLC [Member]
Limited Liability Company or Limited Partnership, Managing Member or General Partner, Compensation			Under the FPH LLC Agreement, net operating cash flow of the FPH JV will be distributed quarterly, first to the members pari passu until each member has received an amount equal to its accrued, but unpaid 9% return, and thereafter 65.25% to Fantasy, 7.5% to Atlantis, 7.25% to Fantasia and 20% to the Operating Partnership. All capital proceeds from the sale of the properties held by the FPH JV, a refinancing or another capital event, will be paid to the members pari passu until each has received an amount equal to its accrued but unpaid 9% return plus its total capital contribution, and thereafter 65.25% to Fantasy, 7.5% to Atlantis, 7.25% to Fantasia, and 20% to the Operating Partnership.
Equity Method Investments			$ 900,000		900,000
Summit Union Life Holdings, LLC [Member]
Equity Method Investments			$ 3,600,000		3,600,000
Best Years Llc [Member] | Minimum [Member]
Equity Method Investment, Ownership Percentage			9.00%
Best Years Llc [Member] | Maximum [Member]
Equity Method Investment, Ownership Percentage			10.00%
JV 2 Properties [Member]
Dividends Receivable		$ 110,000	$ 184,000				$ 362,000
Proceeds from Dividends Received					$ 56,000
Adjustment To Additional Paid In Capital Increase From Cash Addition			$ 5,000

Receivables (Details)

Receivables (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Straight-line rent receivables	$ 3,211,000	$ 3,046,000
Distribution receivables from Equity-Method Investments	357,000	371,000
Receivable from JV 2 properties	184,000	184,000
Asset management fees	177,000	170,000
Other receivables	124,000	335,000
Total	$ 4,053,000	$ 4,106,000

Receivables (Details Textual)

Receivables (Details Textual) - USD ($)	1 Months Ended		3 Months Ended
	Jan. 31, 2018	Dec. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2015	Sep. 30, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Income Note Receivable			$ 18,000	$ 44,000
Financing Receivable, Net		$ 3,854,000	$ 941,000
Receivable with Imputed Interest, Effective Yield (Interest Rate)			4.25%
Debt Instrument, Frequency of Periodic Payment			22,000
Receivable with Imputed Interest, Face Amount			$ 1,100,000
Receivable with Imputed Interest, Due Date			Dec. 31, 2022
Proceeds from Sale of Notes Receivable			$ 4,072,000	8,000
Gain (Loss) on Sale of Notes Receivable			186,000	$ 0
Receivable with Imputed Interest, Discount			95,000
Nantucket Note [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds from Sale of Notes Receivable	$ 4,000,000
Gain (Loss) on Sale of Notes Receivable	$ 200,000
Friendswood TRS [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Net			$ 900,000
Receivable with Imputed Interest, Due Date			Jan. 1, 2018
Sherburne Commons, Inc., Money Note [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivable with Imputed Interest, Face Amount					$ 5,000,000
Proceeds from Sale of Notes Receivable		900,000
Operator [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Net		$ 38,000	$ 30,000			$ 140,000
Debt Instrument, Interest Rate, Stated Percentage						6.00%
Notes Receivable [Member] | Friendswood TRS [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Debt Instrument, Periodic Payment, Principal			$ 67,000

Related Party Transactions (Det

Related Party Transactions (Details) - Cornerstone Realty Advisors, LLC [Member]	Mar. 31, 2018USD ($)
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

Related Party Transactions (D46

Related Party Transactions (Details Textual)	3 Months Ended
	Mar. 31, 2018
Minimum [Member]
Related Party Transaction [Line Items]
Percentage Of Restricted Operating Expenses	2.00%
Maximum [Member]
Related Party Transaction [Line Items]
Percentage Of Restricted Operating Expenses	25.00%

Concentration of Risk (Details

Concentration of Risk (Details Textual)	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Tenant One, Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	42.00%	58.00%
Tenant Two, Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	24.00%	34.00%
Tenant Three, Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	17.00%
Assets, Total [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	33.00%		33.00%

Fair Value Measurements of Fi48

Fair Value Measurements of Financial Instruments (Details Textual) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans Payable, Fair Value Disclosure	$ 65,100,000	$ 63,300,000
Long-term Debt, Gross	64,532,000	$ 62,619,000
Friendswood TRS [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans Payable, Fair Value Disclosure	900,000
Long-term Debt, Gross	$ 900,000
Fair Value, Inputs Discount Rate, Loans payable	4.70%
Minimum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value, Inputs Discount Rate, Loans payable	4.40%
Maximum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value, Inputs Discount Rate, Loans payable	5.60%
Weighted Average [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value, Inputs Discount Rate, Loans payable	4.70%

Commitments and Contingencies (

Commitments and Contingencies (Details Textual)	Dec. 21, 2017USD ($)
consulting fees	$ 270,000
Alleged agreement [Member]
consulting fees	$ 10,000

Equity (Details)

Equity (Details)	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted | shares	41,500
Expected Volatility	22.23%
Expected lives	3 years
Risk-free interest rate	2.01%
Dividends	0.00%
Fair value per share | $ / shares	$ 0.40

Equity (Details 1)

Equity (Details 1)	3 Months Ended
	Mar. 31, 2018USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding, Beginning Balance	895,408
Options, Granted	41,500
Options, Exercised	0
Options, Cancelled/forfeited	0
Options outstanding, Ending Balance	936,908
Options exercisable, Ending Balance	705,896
Weighted Average Exercise Price, Outstanding at Beginning Balance | $ / shares	$ 1.9
Weighted Average Exercise Price, Granted | $ / shares	2.24
Weighted Average Exercise Price, Outstanding at Ending Balance | $ / shares	1.92
Weighted Average Exercise Price, Exercisable at Ending Balance | $ / shares	$ 1.86
Options outstanding, Weighted Average Remaining Contractual Term	8 years 5 months 5 days
Options exercisable, Weighted Average Remaining Contractual Term	8 years 2 months 19 days
Options outstanding, Aggregate Intrinsic Value | $	$ 828,000
Options exercisable, Aggregate Intrinsic Value | $	$ 663,000

Equity (Details 2)

Equity (Details 2)	Mar. 31, 2018USD ($)
Schedule of Equity Method Investments [Line Items]
Unrecognized stock-based compensation expense related to unvested stock options, net of forfeitures	$ 76,000
April 1, 2018 to December 31, 2018 [Member]
Schedule of Equity Method Investments [Line Items]
Unrecognized stock-based compensation expense related to unvested stock options, net of forfeitures	42,000
2019 [Member]
Schedule of Equity Method Investments [Line Items]
Unrecognized stock-based compensation expense related to unvested stock options, net of forfeitures	27,000
2020 [Member]
Schedule of Equity Method Investments [Line Items]
Unrecognized stock-based compensation expense related to unvested stock options, net of forfeitures	6,000
2021 [Member]
Schedule of Equity Method Investments [Line Items]
Unrecognized stock-based compensation expense related to unvested stock options, net of forfeitures	$ 1,000

Equity (Details Textual)

Equity (Details Textual) - USD ($)	Jan. 02, 2018	Mar. 31, 2018	Mar. 31, 2017
Schedule of Equity [Line Items]
Options, Granted		41,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value		$ 0.40
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term		8 years 5 months 5 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Exercise Price		$ 0.33
General and Administrative Expense [Member]
Schedule of Equity [Line Items]
Allocated Share-based Compensation Expense		$ 14,000	$ 31,000
Omnibus Incentive Plan [Member]
Schedule of Equity [Line Items]
Options, Granted	41,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 0.40
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	10 years

Dispositions (Details)

Dispositions (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Resident services and fee income		$ 2,304,000
Other revenues		1,000
Disposal Group, Including Discontinued Operation, Revenue		2,305,000
Expenses:
Property operating costs		139,000
Resident services costs		1,630,000
General and administrative		18,000
Depreciation and amortization		13,000
Disposal Group, Including Discontinued Operation, Total Expenses		1,800,000
Income from discontinued operations	$ 109,000	$ 505,000

Dispositions (Details 1)

Dispositions (Details 1) - USD ($)	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
ASSETS:
Cash and cash equivalents	$ 0	$ 459,000	$ 279,000
Real estate properties, net		320,000
Tenant and other receivables, net		947,000
Other assets		36,000
Total assets	0	1,762,000
LIABILITIES:
Accounts payable and accrued liabilities		821,000
Accrued salaries and benefits		77,000
Total liabilities of property held for sale	$ 0	$ 898,000

Dispositions (Details Textual)

Dispositions (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Receivable with Imputed Interest, Face Amount	$ 1,100,000
Receivable with Imputed Interest, Due Date	Dec. 31, 2022
Receivable with Imputed Interest, Periodic payment	$ 22,000
Receivable with Imputed Interest, Effective Yield (Interest Rate)	4.25%
Cash Provided by (Used in) Operating Activities, Discontinued Operations		$ 299,000
Cash Provided by (Used in) Investing Activities, Discontinued Operations		$ 20,000

Subsequent Events (Details Text

Subsequent Events (Details Textual) - USD ($) $ in Thousands	Apr. 01, 2018	Jan. 02, 2018	May 31, 2018	Mar. 31, 2018	Apr. 30, 2018
Subsequent Event [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross				41,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term				8 years 5 months 5 days
Omnibus Incentive Plan [Member]
Subsequent Event [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		41,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term		10 years
Summit Fantasia Holdings Llc [Member]
Subsequent Event [Line Items]
Limited Liability Company or Limited Partnership, Managing Member or General Partner, Compensation				Under the Fantasia LLC Agreement, net operating cash flow of the Fantasia JV will be distributed quarterly, first to the Operating Partnership and Fantasia pari passu until each member has received an amount equal to its accrued, but unpaid 8% return, and thereafter 70% to Fantasia and 30% to the Operating Partnership. All capital proceeds from the sale of the properties held by the Fantasia JV, a refinancing or another capital event, will be paid first to the Operating Partnership and Fantasia pari passu until each has received an amount equal to its accrued but unpaid 8% return plus its total capital contribution, and thereafter 70% to Fantasia and 30% to the Operating Partnership.
Subsequent Event [Member] | Omnibus Incentive Plan [Member]
Subsequent Event [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	200,000
Subsequent Event [Member] | Director Incentive Stock Plan [Member]
Subsequent Event [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	10 years
Subsequent Event [Member] | Executive Management [Member] | Omnibus Incentive Plan [Member]
Subsequent Event [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	33.00%
Subsequent Event [Member] | Executive Management [Member] | Omnibus Incentive Plan [Member] | Vest in Equal Monthly Installment [Member]
Subsequent Event [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			67.00%
Subsequent Event [Member] | Incentive Plan [Member]
Subsequent Event [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Subsequent Event [Member] | Incentive Plan [Member] | Employee [Member]
Subsequent Event [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	100,000
Subsequent Event [Member] | Summit Fantasia Holdings Llc [Member]
Subsequent Event [Line Items]
Limited Liability Company or Limited Partnership, Managing Member or General Partner, Compensation	As a result of this capital contribution, as of April 27, 2018, the Operating Partnership will have a 35% equity investment and each member will each receive a distribution of net operating cash flow and capital proceeds after the pari passu of 50% instead of 70% for Fantasia and 30% for the Operating Partnership
Additional Paid in Capital					$ 1,250