Summit Healthcare REIT 10-K 15 Apr 24 2023 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2023	Apr. 08, 2024	Jun. 30, 2023
Document and Entity Information
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	000-52566
Entity Registrant Name	SUMMIT HEALTHCARE REIT, INC.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	73-1721791
Entity Address, Address Line One	23382 Mill Creek Drive, Suite 125
Entity Address, City or Town	Laguna Hills
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92653
City Area Code	800
Local Phone Number	978-8136
Title of 12(g) Security	Common stock, $0.001 par value
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Document Financial Statement Error Correction [Flag]	false
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		23,027,978
Entity Central Index Key	0001310383
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
No Trading Symbol Flag	true
Auditor Name	BDO USA, P.C.
Auditor Firm ID	243
Auditor Location	Costa Mesa, California

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents	$ 10,997,000	$ 11,572,000
Restricted cash	3,186,000	2,591,000
Real estate properties, net (Note 14)	156,966,000	173,127,000
Intangible lease assets, net (Note 14)	11,653,000	13,704,000
Tenant and other receivables, net	2,590,000	5,020,000
Other assets, net	1,552,000	2,107,000
Equity-method investments	2,852,000	5,182,000
Total assets	189,796,000	213,303,000
LIABILITIES AND EQUITY (DEFICIT)
Accounts payable and accrued liabilities	8,079,000	5,585,000
Security deposits	3,705,000	4,651,000
Loans payable, net of debt issuance costs (Note 14)	179,929,000	180,169,000
Total liabilities	191,713,000	190,405,000
Commitments and contingencies (Note 11)
Stockholders' Equity (Deficit)
Preferred stock, $0.001 par value; 10,000,000 shares authorized; no shares issued or outstanding at December 31, 2023 and 2022
Common stock, $0.001 par value; 290,000,000 shares authorized; 23,027,978 shares issued and outstanding at December 31, 2023 and 2022	23,000	23,000
Additional paid-in capital	116,473,000	116,432,000
Accumulated deficit	(118,535,000)	(93,734,000)
Total stockholders' (deficit) equity	(2,039,000)	22,721,000
Noncontrolling interests	122,000	177,000
Total (deficit) equity	(1,917,000)	22,898,000
Total liabilities and equity (deficit)	$ 189,796,000	$ 213,303,000

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
CONSOLIDATED BALANCE SHEETS
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	290,000,000	290,000,000
Common stock, shares issued	23,027,978	23,027,978
Common stock, shares outstanding	23,027,978	23,027,978

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenues:
Total rental revenues	$ 18,072,000	$ 21,957,000
Resident fees and services	6,823,000	3,678,000
Asset management fees	554,000	659,000
Total operating revenue	25,449,000	26,294,000
Expenses:
Property operating costs	3,773,000	3,139,000
Resident costs	5,772,000	3,713,000
General and administrative	5,171,000	4,580,000
Depreciation and amortization	7,318,000	7,311,000
Impairment of real estate properties and intangible assets	11,387,000
Total operating expenses	33,421,000	18,743,000
Operating (loss) income	(7,972,000)	7,551,000
Loss from equity-method investees	(754,000)	(2,898,000)
Other income	399,000	252,000
Interest expense	(17,521,000)	(13,534,000)
Gain on consolidation of interest in unconsolidated equity-method investment	1,066,000
Net loss	(24,782,000)	(8,629,000)
Noncontrolling interests' share in net (income) loss	(19,000)	(64,000)
Net loss applicable to common stockholders	$ (24,801,000)	$ (8,693,000)
Basic and diluted:
Basic, Net loss applicable to common stockholders	$ (1.08)	$ (0.38)
Diluted, Net loss applicable to common stockholders	$ (1.08)	$ (0.38)
Weighted average shares used to calculate earnings per common share:
Basic	23,027,978	23,027,978
Diluted	23,027,978	23,027,978

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY (DEFICIT) - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total Stockholders' Equity	Noncontrolling Interests	Total
Balance at the beginning at Dec. 31, 2021	$ 23,000	$ 116,401,000	$ (85,041,000)	$ 31,383,000	$ 171,000	$ 31,554,000
Balance at the beginning (in shares) at Dec. 31, 2021	23,027,978
Stock-based compensation	$ 0	31,000	0	31,000	0	31,000
Distributions paid to noncontrolling interests	0	0	0	0	(58,000)	(58,000)
Net (loss) income	0	0	(8,693,000)	(8,693,000)	64,000	(8,629,000)
Balance at the ending at Dec. 31, 2022	$ 23,000	116,432,000	(93,734,000)	22,721,000	177,000	22,898,000
Balance at the ending (in shares) at Dec. 31, 2022	23,027,978
Stock-based compensation	$ 0	41,000	0	41,000	0	41,000
Distributions paid to noncontrolling interests	0	0	0	0	(74,000)	(74,000)
Net (loss) income	0	0	(24,801,000)	(24,801,000)	19,000	(24,782,000)
Balance at the ending at Dec. 31, 2023	$ 23,000	$ 116,473,000	$ (118,535,000)	$ (2,039,000)	$ 122,000	$ (1,917,000)
Balance at the ending (in shares) at Dec. 31, 2023	23,027,978

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net loss	$ (24,782,000)	$ (8,629,000)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Amortization of debt issuance costs	914,000	912,000
Depreciation and amortization	7,063,000	7,311,000
Amortization of above-market lease intangible	59,000	64,000
Straight-line rents	(1,282,000)	(1,467,000)
Write off of straight-line rent receivables	3,749,000
Stock-based compensation expense	41,000	31,000
Write-off of leasing commissions	255,000
Write off of deferred financing costs	176,000
Impairment of real estate properties and intangible assets	11,387,000
Gain on consolidation of interest in unconsolidated equity-method investment	(1,066,000)
Loss from equity-method investees	754,000	2,898,000
Change in operating assets and liabilities, net of consolidated interest in unconsolidated equity-method investment:
Tenant and other receivables, net	816,000	(2,000)
Other assets, net	126,000	(143,000)
Accounts payable and accrued liabilities	2,141,000	2,223,000
Security deposits	(946,000)
Net cash (used in) provided by operating activities	(595,000)	3,198,000
Cash flows from investing activities:
Proceeds from sale of real estate properties assigned	3,839,000
Cash assumed in consolidation of interest in unconsolidated equity-method investment	770,000
Additions to real estate and other assets	(318,000)	(506,000)
Investments in equity-method investees	(370,000)	(1,111,000)
Distributions received from equity-method investees	1,093,000	769,000
Net cash provided by (used in) investing activities	5,014,000	(848,000)
Cash flows from financing activities:
Payments of loans payable	(1,154,000)	(1,113,000)
Repayment of loan payable assigned	(3,171,000)
Distributions paid to noncontrolling interests	(74,000)	(58,000)
Deferred financing costs		(177,000)
Net cash used in financing activities	(4,399,000)	(1,348,000)
Net increase in cash, cash equivalents and restricted cash	20,000	1,002,000
Cash, cash equivalents and restricted cash - beginning of year	14,163,000	13,161,000
Cash, cash equivalents and restricted cash - end of year	14,183,000	14,163,000
Supplemental disclosure of cash flow information:
Cash paid for interest:	15,753,000	$ 11,318,000
Supplemental disclosure of non-cash financing and investing activities:
Consolidation of assets, net, in connection with our acquisition of partner's interest in unconsolidated equity-method investment	$ 313,000

Organization

Organization	12 Months Ended
	Dec. 31, 2023
Organization
Organization	1. Organization Summit Healthcare REIT, Inc. (“Summit”) is a real estate investment trust that owns 100% of 14 properties, 95.3% of four properties, a 10% equity interest in an unconsolidated equity-method investment that holds 15 properties, a 20% equity interest in an unconsolidated equity-method investment that holds two properties, a 10% equity interest in an unconsolidated equity-method investment that holds eight properties, and a 10% equity interest in an unconsolidated equity-method investment that holds six properties. Summit is a Maryland corporation, formed in 2004 under the General Corporation Law of Maryland for the purpose of investing in and owning real estate. As used in these notes, the “Company”, “we”, “us” and “our” refer to Summit and its consolidated subsidiaries, including Summit Healthcare Operating Partnership, L.P. (the “Operating Partnership”), except where the context otherwise requires. We conduct substantially all of our operations through the Operating Partnership, which is a Delaware limited partnership. We own a 99.88% general partner interest in the Operating Partnership, and Cornerstone Realty Advisors, LLC (“CRA”), a former affiliate, owns a 0.12% limited partnership interest. Summit and the Operating Partnership are managed and operated as one entity, and Summit has no significant assets other than its investment in the Operating Partnership. Summit, as the general partner of the Operating Partnership, controls the Operating Partnership and consolidates the assets, liabilities, and results of operations of the Operating Partnership. Cornerstone Healthcare Partners LLC – Consolidated Joint Venture We own 95 % of Cornerstone Healthcare Partners LLC (“CHP LLC”), which was formed in 2012, and the remaining 5% noncontrolling interest is owned by Cornerstone Healthcare Real Estate Fund, Inc. (“CHREF”), an affiliate of CRA. CHP LLC is consolidated within our financial statements and owns four properties (the “JV Properties”) with another partially owned subsidiary. As of December 31, 2023 and 2022, we own a 95.3% interest in the four JV Properties, and CHREF owns a 4.7% interest. Summit Union Life Holdings, LLC – Equity-Method Investment In April, 2015, through our Operating Partnership, we entered into a limited liability company agreement with Best Years, LLC (“Best Years”), an unrelated entity and a U.S.-based affiliate of Union Life Insurance Co, Ltd. (a Chinese corporation), and formed Summit Union Life Holdings, LLC (the “SUL JV”). The SUL JV is not consolidated in our consolidated financial statements and is accounted for under the equity-method in our consolidated financial statements (see Note 5). As of December 31, 2023 and 2022, we have a 10% interest in the SUL JV which owns 15 properties as of December 31, 2023 and owned 17 properties as of December 31, 2022. 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 I, LLC (the “Fantasia I JV”). On July 3, 2023, the majority member in the Fantasia I JV assigned its 65% interest, for no consideration, to Summit. As such, as of July 2023, Summit owned 100% of Fantasia I JV and it became a wholly-owned subsidiary of Summit. The Fantasia I JV consisted of the real estate of Summit Citrus Heights, LLC (“Summit Citrus Heights”), and the operating assets and liabilities of its associated senior housing facility, Sun Oak Assisted Living (“Sun Oak” ) and was included in our consolidated financial statements from July 2023 through September 2023, when the property was sold. On September 29, 2023, we sold the real estate of Summit Citrus Heights, including the Sun Oak facility. As of December 31, 2023, our investment is no longer considered an equity-method interest in the Fantasia I JV. As of December 31, 2022, we had a 35% interest in the Fantasia I JV which owned one property. See Note 3 for further information. Summit Fantasia Holdings II, LLC – Equity-Method Investment In December 2016, through our Operating Partnership, we entered into a limited liability company agreement (the “Fantasia II LLC Agreement”) with Fantasia, and formed Summit Fantasia Holdings II, LLC (the “Fantasia II JV”). The Fantasia II JV is not consolidated in our consolidated financial statements and is accounted for under the equity-method in our consolidated financial statements. As of December 31, 2023 and 2022, we have a 20% interest in the Fantasia II JV which owns two properties. Summit Fantasia Holdings III, LLC - Equity-Method Investment In July 2017, through our Operating Partnership, we entered into a limited liability company agreement with Fantasia and formed Summit Fantasia Holdings III, LLC (the “Fantasia III JV”). The Fantasia III JV is not consolidated in our consolidated financial statements and is accounted for under the equity-method in our consolidated financial statements. As of December 31, 2023 and 2022, we have a 10% interest in the Fantasia III JV which owns eight and owned nine properties, respectively. 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 consolidated financial statements and is accounted for under the equity-method in our consolidated financial statements. As of December 31, 2023 and 2022, we have a 10% interest in the FPH JV which owns six properties. Taxable REIT Subsidiaries Summit Healthcare Asset Management, LLC 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 I JV (through July 2023), 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 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. ​ SHOP TRS LLC SHOP TRS LLC (“SHOP TRS”) is our wholly-owned taxable REIT subsidiary that is the sole member for two of our real estate properties that no longer have a lease with an unrelated tenant. Each of these properties are leased to an affiliated subsidiary (see Note 3 under Pennington Gardens Operations LLC (“Pennington Gardens”) and Sundial Operations LLC (“Sundial”), collectively, the “Operated Properties”) which are operated directly and earn resident fees and service revenue and the operations are consolidated in our financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies The summary of significant accounting policies presented below conform to accounting principles generally accepted in the United States of America, or GAAP, in all material respects, and have been consistently applied in preparing the accompanying consolidated financial statements. Principles of Consolidation and Basis of Presentation The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, the Operating Partnership, and its consolidated companies and are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). All intercompany accounts and transactions have been eliminated in consolidation. Accounting Standard Codification (“ASC”) 810, Consolidation Variable Interest Entities We analyze our contractual and/or other interests to determine whether such interests constitute an interest in a variable interest entity (VIE) in accordance with ASC 810, Consolidation Use of Estimates The preparation of our consolidated financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses. We base these estimates on various assumptions that we believe to be reasonable under the circumstances, and these estimates form the basis for our judgments concerning the carrying values of assets and liabilities that are not readily apparent from other sources. We periodically evaluate these estimates and judgments based on available information and experience. Actual results could differ from our estimates under different assumptions and conditions. If actual results significantly differ from our estimates, our financial condition and results of operations could be materially impacted. The most significant estimates made include that of real estate acquisition valuation and the allocation of property purchase price to tangible and intangible assets acquired and liabilities assumed at relative fair value, the evaluation of potential impairment of long-lived assets and equity method investments, and the estimated useful lives of real estate assets and intangibles. Cash and Cash Equivalents We consider all short-term, highly liquid investments that are readily convertible to cash with a maturity of three months or less at the time of purchase to be cash equivalents. As of December 31, 2023, we had cash accounts in excess of FDIC-insured limits. To date, the Company has not experienced losses or lack of access to cash in its cash and cash equivalent accounts. Restricted Cash Restricted cash represent restricted cash held by our lenders in interest bearing accounts related to impound reserve accounts for property taxes, insurance and capital funds as required under the terms of the loan agreements. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown on the consolidated statements of cash flows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2023 2022 Cash and cash equivalents ​ $ 10,997,000 ​ $ 11,572,000 Restricted cash ​ 3,186,000 ​ 2,591,000 Total cash, cash equivalents, and restricted cash shown on the consolidated statements of cash flows ​ $ 14,183,000 ​ $ 14,163,000 ​ Investments in Real Estate and Depreciation We allocate the purchase price of our properties in accordance with ASC 805 – Business Combinations. If the acquisition does not meet the definition of a business, we record the acquisition as an asset acquisition. For transactions that are business combinations, acquisition costs are expensed as incurred. For transactions that are an asset acquisition, acquisition costs are capitalized as incurred. Upon an asset acquisition of a property, we allocate the purchase price of the property based upon the relative fair value of the tangible and intangible assets acquired and liabilities assumed, which generally consists of land, buildings, site improvements, furniture and fixtures and intangible assets. The determination of fair value involves the use of significant judgment and estimation. We value land based on various inputs, which may include internal analysis of recently acquired properties, existing comparable properties within our portfolio, or third party appraisals or valuations based on comparable sales. We allocate the purchase price to tangible assets of an acquired property by valuing the property as if it were vacant. We are required to make subjective assessments as to the estimated useful lives of our depreciable assets. We consider the period of future benefit of the assets to determine the appropriate estimated useful lives. Depreciation of our assets is being charged to expense on a straight-line basis over the estimated useful lives. We depreciate the fair value allocated to building and improvements over estimated useful lives ranging from 15 to 39 years. We estimate the value of furniture and fixtures based on the assets’ depreciated replacement cost. We depreciate the fair value allocated to furniture and fixtures over estimated useful lives ranging from three In allocating the purchase price to identified intangible assets and liabilities of an acquired property, the value of above/below-market leases and in-place leases are estimated as follows: The value of above/below market leases is based on the differences between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) estimated fair market lease rates from the perspective of a market participant for the corresponding in-place leases, measured, for above-market leases, over a period equal to the remaining non-cancelable term of the lease and, for below-market leases, over a period equal to the initial term plus any below market fixed rate renewal periods. The above/below market leases are amortized as an adjustment to rental revenue over the remaining term of the respective leases. The value of in-place leases consisting of tenant origination and absorption costs and leasing commissions avoided is based on the Company’s evaluation of the specific characteristics of each tenant’s lease. Factors considered include estimates of carrying costs during expected lease-up periods, current market conditions, discount rates, and costs to execute similar leases. The value of in-place leases are amortized over the remaining term of the respective leases and included in depreciation and amortization in the consolidated statements of operations. If a tenant vacates its space prior to its contractual expiration date, any unamortized balance of the related intangible asset is recorded in the consolidated statements of operations. Held for Sale We consider properties to be assets held for sale when (1) management commits to a plan to sell the property, (2) it is unlikely that the disposal plan will be significantly modified or discontinued; (3) the property is available for immediate sale in its present condition; (4) actions required to complete the sale of the property have been initiated; (5) sale of the property is probable and we anticipate the completed sale will occur within one year; and (6) the property is actively being marketed for sale at a price that is reasonable given our estimate of current market value. Upon designation of a property as an asset held for sale, we record the property’s value at the lower of its carrying value or its estimated fair value, less estimated transaction costs. Depreciation and amortization of the property are discontinued. If a property subsequently no longer meets the criteria to be classified as held for sale, it is reclassified as held and used and measured at the lower of i) its original carrying amount before the asset was classified as held for sale, adjusted for any depreciation expense not recognized while it was classified as held for sale, and ii) its fair value. Impairment of Real Estate Properties and Related Intangible Lease Assets We evaluate the recoverability of the carrying value of our real estate properties and related intangible lease assets on a property-by-property basis. We review our real estate properties and related intangible lease assets for recoverability when events or circumstances, including changes in the Company’s use of property or the strategy for its overall business, plans to sell a property before its depreciable life has ended, occupancy changes, significant near-term lease expirations, significant deteriorations of the underlying cash flows of the property, and other market factors indicate that the carrying amount of the property may not be recoverable. Impairment is measured as the amount by which the carrying amount of the real estate properties and related intangible lease assets exceeds the fair value of the property. During 2023, we recorded an impairment of $11.4 million ($10.3 million for real estate properties and $1.1 million for intangible Fair Value Measurements Fair value represents the estimate of the proceeds to be received, or paid in the case of a liability, in a current transaction between willing parties. ASC 820, Fair Value Measurement, Financial assets and liabilities are categorized based on the inputs to the valuation techniques as follows: Level 1. Level 2. Level 3. Assets and liabilities measured at fair value are classified according to the lowest level input that is significant to their valuation. A financial instrument that has a significant unobservable input along with significant observable inputs may still be classified as a Level 3 instrument. We generally determine or calculate the fair value of financial instruments using quoted market prices in active markets when such information is available or use appropriate present value or other valuation techniques, such as discounted cash flow analyses, incorporating available market discount rate information for similar types of instruments and our estimates for non-performance and liquidity risk. These techniques are significantly affected by the assumptions used, including the discount rate, credit spreads, and estimates of future cash flow. As of and for the year ended December 31, 2023, our equity method investment in the Fantasia II JV was measured at fair value, on a nonrecurring basis using unobservable (level 3) inputs. We estimated the fair value of our equity-method investments based on discounted future cash flows. As a result, we recognized an impairment loss of $0.5 million (see Note 5). As of and for the year ended December 31, 2022, our equity method investment in the Fantasia I JV and FPH JV was measured at fair value, on a nonrecurring basis using unobservable (level 3) inputs. We estimated the fair value of our equity-method investments based on discounted future cash flows. As a result, we recognized an impairment loss of $0.4 million (see Note 5). See above under Impairment of Real Estate Properties for further information. Fair Value Measurement of Financial Instruments Our consolidated balance sheets include the following financial instruments: cash and cash equivalents, restricted cash, tenant and other receivables, certain other assets, accounts payable and accrued liabilities, security deposits and loans payable. With the exception of the loans payable discussed below, we consider the carrying values to approximate fair value for such financial instruments because of the short period of time between origination of the instruments and their expected payment. These are considered a Level I inputs. As of December 31, 2023 and 2022, the fair value of our fixed rate U.S. Department of Housing and Urban Development (“HUD”)-insured loans payable was $36.4 million and $38.9 million, compared to the principal balance (excluding debt issuance costs) of $43.9 million and $45.0 million, respectively. The fair value of loans payable was estimated using lending rates available to us for financial instruments with similar terms and maturities. The fair value of our fixed and variable rate loans payable was estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. As the inputs to our valuation estimate are neither observable in nor supported by market activity, our loans payable are classified as Level 3 liability within the fair value hierarchy. As of December 31, 2023 and 2022, we believe the carrying amounts of our variable rate loans payable are reasonably estimated at their carrying amounts as there have been minimal changes to the fixed spread portion of interest rates for similar loans observed in the market, and as the variable portion of our interest rates fluctuate with the associated market indices. We believe the fair value of our variable rate mezzanine loan payable which is currently in default approximates the carrying amount based on the contractual rights of the mezzanine loan payable holders. See Note 14 for additional discussion. At December 31, 2023 and 2022, we do not have any significant financial assets or financial liabilities that are measured at fair value on a recurring basis in our consolidated financial statements. Tenant and Other Receivables Tenant and other receivables are comprised mainly of the cumulative amount of future adjustments necessary to present tenant rental income on a straight-line basis, accounts receivable due from residents for our Operated Properties, asset management fees and distributions receivable. Allowance for Credit Losses The allowance for credit losses is maintained on all receivables except for lease receivables and is maintained at a level believed adequate to absorb potential losses in our receivables. The determination of the credit allowance is based on a quarterly evaluation of each of these receivables, including general economic conditions and estimated collectability. We evaluate the collectability of our receivables based on a combination of credit quality indicators, including, but not limited to, payment status, historical charge-offs, and financial strength of the equity method investment. A receivable is considered to have deteriorated in credit quality when, based on current information and events, it is probable that we will be unable to collect all amounts due. As of December 31, 2023 and 2022, the allowance for credit losses is immaterial. Deferred Financing Costs Costs incurred with potential financing arrangements are recorded as deferred financing costs. Costs incurred in connection with completed debt financing are recorded as debt issuance costs. Debt issuance costs are amortized using the straight-line basis which approximates the effective interest rate method, over the contractual terms of the respective financings, and are presented net of loans payable in loans payable, net of debt issuance costs, in the consolidated balance sheets. Costs incurred in connection with an unexercised debt financing are recorded as expense when financing is no longer deemed probable. For the year ended December 31, 2023, we recorded approximately $0.7 million in property operating costs expense in the consolidated statements of operations for deferred financing costs associated with a terminated refinancing related to the CA3 Properties. Other Assets Other assets consist primarily of deferred financing costs, deposits, prepaid insurance, property taxes and other and corporate assets. Additionally, other assets will be amortized to expense over their future service periods. Balances without future economic benefit are expensed as they are identified. Equity-Method Investments We report our investments in unconsolidated entities, over whose operating and financial policies we have the ability to exercise significant influence but not control, under the equity method of accounting. Under this method of accounting, our pro rata share of the applicable entity’s earnings or losses is included in our consolidated statements of operations. We initially record our investments based on either the carrying value for properties contributed or the cash invested. We evaluate our Equity-Method Investments for impairment whenever events or changes in circumstances indicate that the carrying value of our investments may exceed the fair value. If it is determined that a decline in the fair value of our investments is not temporary, and if such reduced fair value is below its carrying value, an impairment is recorded. Determining fair value involves significant judgment. Our estimates consider available evidence including the present value of the expected future cash flows discounted at market rates, general economic conditions and other relevant factors. For the year ended December 31, 2023, we recorded impairment of approximately $0.5 million related to our equity-method investments. For the year ended December 31, 2022, we recorded impairment of approximately $0.4 million related to our equity-method investments. See Note 5 for further information. Rental Revenue We recognize rental revenue based on ASC 842, Leases Additionally, where real estate taxes and insurance expenses were paid directly by our tenants to taxing authorities or insurance companies, respectively, we do not record any revenue or expense. For our triple-net leasing arrangements in which the tenant remits payment for certain costs to us and we pay the vendor, we have reported the gross amounts in total rental revenues and property operating costs on the consolidated statements of operations. Additionally, under Topic 842, we must assess if substantially all payments due under the lease are likely to be collected. If tenant lease payments are not likely to be collected, then the revenues will be recognized on a cash basis (or if the answer changes at a later date, the revenues are adjusted to reflect what it would have been on a cash basis) and the adjustments will be recorded through rental revenues, rather than bad debt expense. During 2022, we determined that two of our leases were uncollectible and therefore, we recorded rental revenue received from those tenants on the cash basis. Resident Fees and Services Revenue We recognize resident fees and services revenue at the amount that we expect to be entitled to in exchange for providing resident care and services. Resident fees are recognized and billed monthly based on the contracted rate in the resident lease agreements and the reimbursements from Medicaid are based on contracted reimbursement rates. These amounts are paid directly from the residents and/or third-party payors (currently only Medicaid). Revenue is recognized as performance obligations are satisfied. Performance obligations are determined based on the nature of the services provided by us. The majority of resident fees and services is attributable to the portion of the base monthly lease fee in the resident lease agreement. The Company recognizes the resident fee revenue based upon the predominant component, either the lease or non-lease component, of the contracts. The Company has determined that the lease component is the predominant component and the services included under the resident agreements have the same timing and pattern of transfer and are performance obligations that are satisfied over time. Resident services consist of care level services and certain other ancillary services (i.e., housekeeping, laundry, etc.). These services are provided and paid for in addition to the standard fees included in each resident lease (i.e., room and board, standard meals, etc.). Asset Management Fees We record asset management fee revenue based on ASC 606, Revenue from Contracts with Customers (Topic 606) Stock-Based Compensation We record stock-based compensation expense for share-based payments to employees and directors, including grants of stock options based on the estimated fair value of the options on the date of grant using the Black-Scholes option-pricing model. Compensation expense is recognized ratably over the vesting term and is included in general and administrative expense in our consolidated statements of operations. Forfeitures are recognized as they occur. See Note 12 for further information. Noncontrolling Interest in Consolidated Subsidiary Noncontrolling interest relates to the interest in the consolidated entities that are not wholly-owned by us. As of December 31, 2023 and 2022, the noncontrolling interest mainly relates to CHP, LLC. ASC 810-10-65, Consolidation We periodically evaluate individual noncontrolling interests for the ability to continue to recognize the noncontrolling interest as permanent equity in the consolidated balance sheets. Any noncontrolling interest that fails to qualify as permanent equity will be reclassified as temporary equity and adjusted to the greater of (a) the carrying amount, or (b) its redemption value as of the end of the period in which the determination is made. Income Taxes We have elected to be taxed as a REIT, under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”) beginning with our taxable year ending December 31, 2006. To qualify as a REIT, we must meet certain organizational and operational requirements, including a requirement to currently distribute at least 90% of the REIT's ordinary taxable income to stockholders. As a REIT, we generally will not be subject to federal income tax on taxable income that we distribute to our stockholders. If we fail to qualify as a REIT in any taxable year, we will then be subject to federal income taxes on our taxable income at regular corporate rates and will not be permitted to qualify for treatment as a REIT for federal income tax purposes for four years following the year during which qualification is lost unless the Internal Revenue Service were to grant us relief under certain statutory provisions. Such an event could materially and adversely affect our net loss and net cash available for distribution to stockholders. However, we believe that we will be organized and operate in such a manner as to qualify for treatment as a REIT and intend to operate for the foreseeable future in such a manner so that we will remain qualified as a REIT for federal income tax purposes. Given the applicable statute of limitations, we generally are subject to audit by the Internal Revenue Service ("IRS") for the year ended December 31, 2020 and subsequent years, and state income tax returns are subject to audit for the year ended December 31, 2019 and subsequent years. We have elected to treat SAM TRS and SHOP TRS as taxable REIT subsidiaries (collectively, the “TRS Subsidiaries”), which generally may engage in any business, including the provision of customary or non-customary services for our tenants. The TRS Subsidiaries are treated as a regular corporation and are subject to federal income tax and applicable state income and franchise taxes at regular corporate rates. As of December 31, 2023 and 2022, respectively, the TRS Subsidiaries have net deferred tax assets, related primarily to their net operating losses (collectively “NOL”), of $1,142,000 and $683,000, for which there is a full valuation allowance recorded. The Company regularly assesses the ability to realize deferred tax assets recorded based upon the weight of available evidence, including such factors as recent earnings history and expected future taxable income on a jurisdiction-by-jurisdiction basis. If the Company changes its determination as to the amount of realizable deferred tax assets, the Company will adjust its valuation allowance with a corresponding impact to the provision for income taxes in the period in which such determination is made. The Company’s management believes that, based on a number of factors, it is more likely than not, that all or some portion of the deferred tax assets will not be realized; and accordingly, for the year ended December 31, 2023, the Company continues to provide a full valuation allowance against the TRS Subsidiaries net deferred tax assets. The net change in the valuation allowance for the year ended December 31, 2023 was an increase of $457,000. As of December 31, 2023, the TRS Subsidiaries have NOL carryforwards for federal income tax purposes of approximately $4.2 million that will begin to expire in 2035 with approximately $2.4 million of the federal net operating loss carryforward lasting indefinitely. As of December 31, 2023, the TRS Subsidiaries had net operating loss carryforwards for state income tax purposes of approximately $4.4 million that will begin to expire at various dates beginning in 2035. Uncertain Tax Positions In accordance with the requirements of ASC 740, Income Taxes, Basic and Diluted Net Income (Loss) and Distributions per Common Share Basic earnings per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income (loss) by the weighted-average number of common shares and dilutive potential common shares outstanding during the period. Dilutive potential common shares are calculated in accordance with the treasury stock method. For the years ended December 31, 2023 and 2022, all stock options outstanding were considered to be anti-dilutive.

Investments in Real Estate Prop

Investments in Real Estate Properties	12 Months Ended
	Dec. 31, 2023
Investments in Real Estate Properties
Investments in Real Estate Properties	3. Investments in Real Estate Properties As of December 31, 2023 and 2022, consolidated investments in real estate properties(excluding the 31 properties owned by our unconsolidated Equity-Method Investments) are set forth below: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2023 ​ 2022 Land ​ $ 14,905,000 ​ $ 15,565,000 Buildings and improvements ​ 157,875,000 ​ 166,989,000 Less: accumulated depreciation ​ (20,439,000) ​ (15,985,000) Buildings and improvements, net ​ 137,436,000 ​ 151,004,000 Furniture and fixtures ​ 12,106,000 ​ 12,440,000 Less: accumulated depreciation ​ (7,481,000) ​ (5,882,000) Furniture and fixtures, net ​ 4,625,000 ​ 6,558,000 Real estate properties, net ​ $ 156,966,000 ​ $ 173,127,000 ​ Depreciation and amortization expense (excluding intangible lease amortization and leasing commission amortization) for the years ended December 31, 2023 and 2022 was approximately $6.1 million and $6.3 million, respectively. As of December 31, 2023, our portfolio consisted of 18 real estate properties, 16 of which were 100% leased to the tenants of the related facilities. The other two properties are each 100% leased to an affiliated subsidiary (see below under Pennington Gardens Operations LLC and Sundial Operations LLC). Fantasia I JV Transfer of Interest and Sale On July 3, 2023, the majority member in the Fantasia I JV assigned its 65% interest, for no consideration, to Summit. As such, as of July 2023, Summit owned 100% of Fantasia I JV. The Fantasia I JV consisted of the real estate of Summit Citrus Heights, LLC, our wholly-owned subsidiary and the operating assets and liabilities of its associated senior housing facility, Sun Oak. As such, the operations of Sun Oak are consolidated in our financial statements beginning July 3, 2023, through September 29, 2023 (date of the sale), and all intercompany transactions have been eliminated. For the period from July 3, 2023 through September 29, 2023, revenues from Sun Oak are recorded under resident fees and services and costs are recorded under resident costs in the consolidated statements of operations. The following summarizes the fair value of the assets and liabilities consolidated in our condensed consolidated financial statements beginning in July 2023: cash of $0.8 million, real estate of $3.8 million, other assets of $0.1 million, loan payable of $3.2 million and other liabilities of $0.4 million. Prior to the assignment, the Fantasia I JV was considered an equity method investment and the consolidation of the entity resulted in a gain of approximately $1.1 million, which is recorded in gain on consolidation of interest in unconsolidated equity-method investment in the consolidated statements of operations. Additionally, on September 29, 2023, we sold the real estate of Summit Citrus Heights, including the Sun Oak facility for net cash of approximately $0.6 million (which consists of the $3.8 million sale price and the payoff of the loan payable of approximately $3.2 million) and recorded a loss of approximately $0.01 million, which is recorded in gain on consolidation of interest in unconsolidated equity-method investment in the consolidated statements of operations. Pennington Gardens Operations LLC In February 2022, our former tenant’s lease was terminated and we received approximately $0.2 million under a settlement agreement which is recorded in total rental revenues in the consolidated statements of operations. Concurrently, we entered into a management agreement with a new operator that began operating the facility, Pennington Gardens, and we entered into a new lease agreement with Pennington Gardens Operations LLC, the newly formed operating company for Pennington Gardens, which is a wholly owned subsidiary of SHOP TRS. As such, the operations of Pennington Gardens are consolidated in our financial statements beginning February 11, 2022, and all intercompany transactions have been eliminated. For the year ended December 31, 2023 and for the period from February 11, 2022 through December 31, 2022, revenues from Pennington Gardens Operations are recorded under resident fees and services and costs are recorded under resident costs in the consolidated statements of operations. Sundial Operations LLC In June 2022, our former tenant’s lease was terminated and we entered into a management agreement with a new operator that began operating the facility, Sundial Assisted Living. Concurrently, we entered into a new lease agreement with Sundial Operations LLC, the newly formed operating company for Sundial Assisted Living, which is a wholly owned subsidiary of SHOP TRS. As such, for the year ended December 31, 2023 and for the period from June 7, 2022 through December 31, 2022, the operations of Sundial Assisted Living are consolidated in our financial statements and revenues from Sundial Assisted Living are recorded under resident fees and services and costs are recorded under resident costs in the consolidated statements of operations. The following table provides summary information regarding our portfolio (excluding the 31 properties owned by our unconsolidated Equity-Method Investments and the $12.75 million mezzanine loan from Oxford (see Note 4) with Summit Georgia Holdings LLC (“Summit Georgia”), our wholly-owned subsidiary) as of December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Payable, ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Excluding ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Debt ​ ​ ​ ​ ​ ​ ​ ​ ​ Purchase ​ Issuance Property Location Date Purchased Type (1) Price Costs Sheridan Care Center ​ ​ Sheridan, OR ​ August 3, 2012 ​ SNF ​ $ 4,100,000 ​ $ 3,829,000 Fernhill Care Center ​ ​ Portland, OR ​ August 3, 2012 ​ SNF ​ ​ 4,500,000 ​ 3,359,000 Friendship Haven Healthcare and Rehabilitation Center ​ ​ Galveston County, TX ​ September 14, 2012 ​ SNF ​ ​ 15,000,000 ​ 11,109,000 Pacific Health and Rehabilitation Center ​ ​ Tigard, OR ​ December 24, 2012 ​ SNF ​ ​ 8,140,000 ​ 5,600,000 Brookstone of Aledo ​ ​ Aledo, IL ​ July 2, 2013 ​ AL ​ ​ 8,625,000 ​ ​ 6,461,000 Sundial Assisted Living ​ ​ Redding, CA ​ December 18, 2013 ​ AL ​ ​ 3,500,000 ​ ​ 3,626,000 Pennington Gardens ​ ​ Chandler, AZ ​ July 17, 2017 ​ AL/MC ​ ​ 13,400,000 ​ ​ 9,877,000 Yucaipa Hill Post Acute ​ ​ Yucaipa, CA ​ July 2, 2021 ​ SNF ​ ​ 10,715,000 ​ ​ 8,014,000 Creekside Post Acute ​ ​ Yucaipa, CA ​ July 2, 2021 ​ SNF ​ ​ 4,780,000 ​ ​ 3,575,000 University Post Acute ​ ​ Mentone, CA ​ July 2, 2021 ​ SNF ​ ​ 4,560,000 ​ 3,411,000 Calhoun Health Center ​ ​ Calhoun, GA ​ December 30, 2021 ​ SNF ​ ​ 7,670,000 ​ ​ 6,549,000 Maple Ridge Health Care Center ​ ​ Cartersville, GA ​ December 30, 2021 ​ SNF ​ ​ 13,548,000 ​ ​ 11,568,000 Chatsworth Health Care Center ​ ​ Chatsworth, GA ​ December 30, 2021 ​ SNF ​ ​ 29,785,000 ​ 25,432,000 East Lake Arbor ​ ​ Decatur, GA ​ December 30, 2021 ​ SNF ​ ​ 15,640,000 ​ 13,354,000 Fairburn Health Care Center ​ ​ Fairburn, GA ​ December 30, 2021 ​ SNF ​ ​ 14,644,000 ​ 12,503,000 Grandview Health Care Center ​ ​ Jasper, GA ​ December 30, 2021 ​ SNF ​ ​ 10,061,000 ​ 8,591,000 Rosemont at Stone Mountain ​ ​ Stone Mountain, GA ​ December 30, 2021 ​ SNF ​ ​ 23,908,000 ​ 20,414,000 Willowwood Nursing Center & Rehab ​ ​ Flowery Branch, GA ​ December 30, 2021 ​ SNF ​ ​ 14,744,000 ​ 12,589,000 Total: ​ ​ ​ ​ ​ ​ ​ $ 207,320,000 ​ $ 169,861,000 (1) SNF is an abbreviation for skilled nursing facility. AL is an abbreviation for assisted living facility. MC is an abbreviation for memory care facility. Tenant/Operator Changes In September 2023, three of our wholly-owned properties and their related facilities, Rivers Edge Rehabilitation and Care (f.k.a. Sheridan Care Center), Fernhill Care Center, and Pacific Health and Rehabilitation Center, replaced the tenant/operator. The previous tenant requested the lease be terminated and on September 1, 2023, HUD approved the change. As a result of the lease termination, we wrote off the straight-line rent receivable of approximately $1.3 million, which is included in rental revenues in our consolidated statements of operations, wrote off leasing commissions of approximately $0.3 million, which is included in depreciation and amortization in our consolidated statements of operations, and recognized income from retained security deposits of approximately $0.4 million, which is included in total rental revenue in our consolidated statements of operations. The new tenant leases are structured under a master lease at the same lease rates for a 10-year term through August 2033, with two five-year renewal options. Other Tenant Issues During the fourth quarter of 2023, we wrote off the straight-line rent receivable of approximately $2.4 million related to eight real estate properties, which is included in rental revenues in our consolidated statements of operations for the year ended December 31, 2023. The write off was recorded due to the tenants experiencing issues affecting their ability to continue to pay their full lease obligations. Future Minimum Lease Payments The future minimum lease payments to be received under existing tenant operating leases (excluding the 31 properties owned by our unconsolidated Equity-Method Investments and the intercompany leases for Pennington Gardens and Sundial Assisted Living as well as the related resident fees and services) for our consolidated properties as of December 31, 2023 are as follows: ​ ​ ​ ​ ​ Years ending December 31, ​ ​ 2024 ​ 18,272,000 2025 ​ 18,566,000 2026 ​ 18,865,000 2027 ​ 19,168,000 2028 ​ ​ 17,909,000 Thereafter ​ 137,999,000 ​ ​ $ 230,779,000 ​ There were no acquisitions in the years ended December 31, 2023 and 2022.

Loans Payable

Loans Payable	12 Months Ended
	Dec. 31, 2023
Loans Payable
Loans Payable	4. Loans Payable As of December 31, 2023 and 2022, loans payable consisted of the following ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 December 31, 2022 Loans payable to Lument (insured by HUD) in monthly installments of approximately $183,000, including interest, ranging from a fixed rate of 2.79% to 4.2%, due in September 2039 through April 2055, and as of December 31, 2023 and 2022, collateralized by Sheridan, Fernhill, Pacific Health, Aledo, Sundial and Friendship Haven. ​ $ 33,984,000 ​ $ 34,976,000 ​ ​ ​ ​ ​ ​ ​ Loan payable to Capital One Multifamily Finance, LLC (insured by HUD) in monthly installments of approximately $49,000, including interest at a fixed rate of 4.23%, due in September 2053, and collateralized by Pennington Gardens. ​ ​ 9,877,000 ​ ​ 10,039,000 ​ ​ ​ ​ ​ ​ ​ Loan payable to CIBC Bank, USA in monthly installments of approximately $106,000 including cash collateral fund payments, variable interest rate as noted below (9.45% and 8.17% at December 31, 2023 and 2022, respectively), due in July 2024 and collateralized by Yucaipa Hills Post Acute, Creekside Post Acute and University Post Acute. ​ ​ 15,000,000 ​ ​ 15,000,000 ​ ​ ​ ​ ​ ​ ​ Loan payable to CIBC Bank, USA in monthly installments of approximately $680,000 (interest only through December 2023) variable interest rate as noted below (8.85% and 7.68% at December 31, 2023 and 2022, respectively), due in December 2024, and collateralized by Calhoun Health Center, Maple Ridge Health Care Center, Chatsworth Health Care Center, East Lake Arbor, Fairburn Health Care Center, Grandview Health Care Center, Rosemont at Stone Mountain, and Willowwood Nursing Center & Rehab. ​ ​ 91,000,000 ​ ​ 91,000,000 ​ ​ ​ ​ ​ ​ ​ Loan payable to Oxford Finance, LLC in monthly installments of approximately $280,000 (interest only through maturity), variable interest rate as noted below (16.4% and 15.1% at December 31, 2023 and 2022, respectively) due in March 2025, collateralized in second position by Calhoun Health Center, Maple Ridge Health Care Center, Chatsworth Health Care Center, East Lake Arbor, Fairburn Health Care Center, Grandview Health Care Center, Rosemont at Stone Mountain, and Willowwood Nursing Center & Rehab. ​ ​ 20,000,000 ​ ​ 20,000,000 ​ ​ ​ ​ ​ ​ ​ Mezzanine Loan payable to Oxford Finance, LLC in monthly installments of approximately $168,000 (interest only through maturity), variable interest rate as noted below (16.4% and 15.1% at December 31, 2023 and 2022, respectively) due in December 2026, secured by the equity interests of Summit Georgia, the parent holding company for the GA8 Properties. ​ ​ 12,750,000 ​ ​ 12,750,000 ​ ​ 182,611,000 ​ 183,765,000 Less debt issuance costs ​ (2,682,000) ​ (3,596,000) Total loans payable ​ $ 179,929,000 ​ $ 180,169,000 ​ As of December 31, 2023, we have total debt obligations of approximately $182.6 million that will mature between 2024 and 2055. See Note 3 for loans payable balance for each property. All of the loans payable have certain financial and non-financial covenants, including ratios and financial statement considerations. As of December 31, 2023, we were in compliance with all of our debt covenants except for the GA8 Properties. See below under GA8 Properties for further information. During the years ended December 31, 2023 and 2022, we incurred approximately $16.6 million and $12.0 million of interest expense, respectively (excluding debt issuance costs amortization and interest expense related to the Oxford mezzanine loan as noted below (“Oxford Monthly Fee”)), related to our loans payable. During the years ended December 31, 2023 and 2022, we incurred approximately $0 million and $0.6 million of interest expense, respectively, related to the Oxford Monthly Fee, which is included in interest expense in our consolidated statements of operations. As of December 31, 2023 and 2022, the unamortized balance of the debt issuance costs was approximately $2.7 million and $3.6 million, respectively. These debt issuance costs are being amortized over the life of their respective financing agreements using the straight-line basis which approximates the effective interest rate method. For the years ended December 31, 2023 and 2022, approximately $0.9 million, of debt issuance costs were amortized and included in interest expense in our consolidated statements of operations. The principal payments due on the loans payable (excluding debt issuance costs and cash collateral funds) for each of the five following years and thereafter ending December 31 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ Principal Year Amount 2024 ​ 139,951,000 (1) 2025 ​ 1,246,000 ​ 2026 ​ 1,292,000 ​ 2027 ​ 1,341,000 ​ 2028 ​ ​ 1,391,000 ​ Thereafter ​ 37,390,000 ​ ​ ​ $ 182,611,000 ​ (1) The following information notes our loan activity: GA8 Properties In 2021, we acquired our interest in the GA8 Properties subject to a $91.0 million first priority mortgage loan with CIBC collateralized by those properties, a $20.0 million subordinated term loan with Oxford Financing LLC (“Oxford”) collateralized by those properties and a $12.75 million mezzanine loan with Oxford secured by the equity interests of the wholly-owned subsidiary, Summit Georgia, the parent holding company for the GA8 Properties. As of December 31, 2023, we were out of compliance with our debt covenants due to the tenants being out of compliance with their consolidated minimum EBITDAR covenant for each quarter in 2023. Additionally, in October, November and December 2023, Oxford agreed to defer a portion of our interest payments on the mezzanine loan payable totaling approximately $0.6 million, which is included in accrued liabilities on the consolidated balance sheet until we can confirm a plan of action. In March 2024, we received a notice of default from Oxford for the mezzanine loan (see Note 14 for further information). The Oxford notice of default also constitutes an event of default under the GA8 Properties subordinated term loan with Oxford and the mortgage loan with CIBC. Additionally, we are including the subordinated loan and the mezzanine loan principal payments in the 2024 period in the table above due to the noncompliance with the loan covenant. HUD-insured loans 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 consolidated balance sheets. Master Letter of Credit Agreement In June 2023, we entered into a $1.0 million Master Letter of Credit Agreement with CIBC. As of December 31, 2023, there were two letters of credit totaling approximately $0.2 million under this agreement.

Equity-Method Investments

Equity-Method Investments	12 Months Ended
	Dec. 31, 2023
Equity-Method Investments
Equity-Method Investments	5. Equity-Method Investments As of December 31, 2023 and 2022, the aggregate balances of our Equity-Method Investments were approximately $2.9 million and $5.2 million, respectively, and are as follows: Summit Union Life Holdings, LLC The SUL JV will exist until an event of dissolution occurs, as defined in the limited liability company agreement of the SUL JV (the “SUL LLC Agreement”). Under the SUL LLC Agreement, net operating cash flow of the SUL JV will be distributed monthly, first to the Operating Partnership and Best Years pari passu pari passu For the years ended December 31, 2023 and 2022, we invested approximately $370,000 and $821,000 related to capital calls for the SUL JV. In December 2023, the SUL JV sold two properties for a gain of approximately $7.0 million. Our 10% share of the gain of approximately $0.7 million is included in loss from equity-method investees in the consolidated statements of operations. Additionally, we received approximately $1.1 million in cash from the sale. In 2023, the SUL JV recorded an aggregate impairment charge of approximately $1.1 million on one of the properties in the SUL JV and our 10% share of the impairment of approximately $0.1 million is included in loss from equity-method investees in the consolidated statements of operations for the year ended December 31, 2023. In 2022, the SUL JV recorded an aggregate impairment charge of approximately $6.8 million on several of the properties in the SUL JV and our 10% share of the impairment of approximately $0.7 million is included in loss from equity-method investees in the consolidated statements of operations for the year ended December 31, 2022. As of December 31, 2023 and 2022, the balance of our equity-method investment related to the SUL JV was approximately $1.8 million and $2.4 million, respectively. Summit Fantasia Holdings, LLC For the year ended December 31, 2022, we invested approximately $290,000 related to capital calls for the Fantasia JV. In 2022, the Fantasia JV recorded an impairment charge of approximately $6.4 million on one of the properties in the Fantasia JV and our 35% share of the impairment of approximately $2.2 million is included in loss from equity-method investees in the consolidated statements of operations. Additionally, we determined our investment in the Fantasia JV to be impaired and recorded an aggregate impairment of $0.2 million and wrote off distributions receivable of approximately $0.2 million in 2022, which is recorded in the loss from equity-method investees in the consolidated statements of operations for the year ended December 31, 2022, and consequently, reduced our equity-method investment balance to $0. On July 3, 2023, the majority member in the Fantasia I JV assigned its 65% interest, for no consideration, to Summit. As such, as of July 2023, we no longer have any equity-method interest in the Fantasia I JV. See Note 3 under Fantasia I JV Transfer of Interest and Sale for further information. 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 In June 2023, the tenant for the two properties in the Fantasia II JV filed for receivership. The two properties are currently being operated by the receivership estate in conjunction with a third-party manager under a one-year management agreement. As of December 31, 2023, there has been no termination of the tenant leases and the Fantasia II JV is currently communicating with the receiver regarding ongoing lease terms and payments. The Fantasia II JV has not received any rent payments since May 2023. In September 2023, the Fantasia II JV recorded an impairment of approximately $1.6 million on the two properties and our 20% share of the impairment of approximately $0.3 million is included in loss from equity-method investees in the consolidated statements of operations. Additionally, in September 2023, due to the ongoing issues with the receivership, we determined our investment in the Fantasia II JV to be impaired and recorded a $0.5 million impairment charge which is recorded in the loss from equity-method investees in the consolidated statements of operations for the year ended December 31, 2023. Due to our intention to fund a capital call, if needed, we recorded additional losses of $0.1 million. As of December 31, 2023 and 2022, the balance of our equity-method investment related to the Fantasia II JV was approximately ($0.1) million and $1.2 million, respectively. Summit Fantasia Holdings III, LLC The Fantasia III JV will continue until an event of dissolution occurs, as defined in the limited liability company agreement of the Fantasia III JV (the “Fantasia III LLC Agreement”). Under the Fantasia III LLC Agreement, net operating cash flow of the Fantasia III JV will be distributed quarterly, first to the Operating Partnership and Fantasia pari passu pari passu In September 2023, the Fantasia III JV deeded the ownership in a transfer of one of the properties in the Fantasia III JV to the tenant for no contractual consideration, however as part of the transfer agreement, the Fantasia III JV will receive a monthly payment of the base rent of the transferred property that was in place at the time of the transfer, through the end of the lease term, August 2032, from one of the other tenants in the Fantasia III JV. The Fantasia III JV recorded a loss of approximately $3.9 million on the transaction and our 10% share of the loss of approximately $0.4 million is included in loss from equity-method investees in the consolidated statements of operations for the year ended December 31, 2023. As of December 31, 2023 and 2022, the balance of our equity-method investment related to the Fantasia III JV was approximately $1.2 million and $1.6 million, respectively. Summit Fantasy Pearl Holdings, LLC The FPH JV will continue until an event of dissolution occurs, as defined in the limited liability company agreement of the FPH JV (the “FPH LLC Agreement”). Under the FPH LLC Agreement, net operating cash flow of the FPH JV will be distributed quarterly, first to the members pari passu refinancing or another capital event, will be paid to the members pari passu In December 2022, we recorded an impairment of approximately $0.2 million of our equity method investment in the FPH JV due to issues related to tenant operations which continued through June 2023, and is recorded in the loss from equity-method investees in the consolidated statements of operations for the year ended December 31, 2022, and consequently, reduced our equity-method investment balance to $0. As of December 31, 2023 and 2022, the balance of our equity-method investment related to the FPH JV was approximately $0. None of our Equity-Method Investments are significant equity-method investments. Distributions from Equity-Method Investments As of December 31, 2023 and 2022, we have distributions receivable, which is included in tenant and other receivables in our consolidated balance sheets, as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2023 2022 SULH JV ​ $ 311,000 ​ $ 259,000 Fantasia II JV ​ 30,000 ​ 55,000 Fantasia III JV ​ 87,000 ​ 22,000 FPH JV ​ 64,000 ​ 64,000 Total ​ $ 492,000 ​ $ 400,000 ​ For the years ended December 31, 2023 and 2022, we received cash distributions, which are included in our cash flows from operating activities in the change in tenant and other receivables, and cash flows from investing activities, using the cumulative earnings approach, as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2023 ​ Year Ended December 31, 2022 ​ ​ Total Cash ​ Cash Flow ​ Cash Flow ​ Total Cash ​ Cash Flow ​ Cash Flow ​ ​ Distributions ​ from ​ from ​ Distributions ​ from ​ from ​ Received Operating Investing Received Operating Investing SUL JV ​ $ 1,706,000 ​ $ 760,000 ​ $ 946,000 ​ $ 615,000 ​ $ — ​ $ 615,000 Fantasia JV ​ — ​ — ​ — ​ — ​ — ​ — Fantasia II JV ​ 135,000 ​ — ​ 135,000 ​ 311,000 ​ 213,000 ​ 98,000 Fantasia III JV ​ 12,000 ​ — ​ 12,000 ​ 134,000 ​ 134,000 ​ — FPH JV ​ — ​ — ​ — ​ 56,000 ​ — ​ 56,000 Total ​ $ 1,853,000 ​ $ 760,000 ​ $ 1,093,000 ​ $ 1,116,000 ​ $ 347,000 ​ $ 769,000 ​

Receivables

Receivables	12 Months Ended
	Dec. 31, 2023
Receivables
Receivables	6. Receivables Tenant and Other Receivables, net Tenant and other receivables, net consists of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2023 2022 Straight-line rent receivables ​ $ 1,396,000 ​ $ 3,862,000 Distribution receivables from Equity-Method Investments ​ 492,000 ​ 400,000 Asset management fees ​ 327,000 ​ 375,000 Other receivables ​ 375,000 ​ 383,000 Total ​ $ 2,590,000 ​ $ 5,020,000 ​

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Related Party Transactions
Related Party Transactions	7. Related Party Transactions Equity-Method Investments See Notes 5 and 6 for further discussion of distributions and asset management fees related to our Equity-Method Investments.

Intangible Lease Assets

Intangible Lease Assets	12 Months Ended
	Dec. 31, 2023
Intangible Lease Assets
Intangible Lease Assets	8. Intangible Lease Assets Intangible lease assets as of December 31, 2023 and 2022 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2023 ​ 2022 In-place leases ​ $ 12,680,000 ​ $ 13,778,000 Less: accumulated amortization ​ (1,831,000) ​ (937,000) In-place leases, net ​ 10,849,000 ​ 12,841,000 Above-market leases ​ 959,000 ​ 959,000 Less: accumulated amortization ​ (155,000) ​ (96,000) Above-market leases, net ​ 804,000 ​ 863,000 Total intangible lease assets, net ​ $ 11,653,000 ​ $ 13,704,000 ​ For each of the years ended December 31, 2023 and 2022, amortization expense for intangible lease assets was approximately $1.0 million, of which approximately $0.1 million relates to the amortization of above-market leases which is included within rental revenues in the accompanying consolidated statements of operations. Expected future amortization of the intangible lease assets as of December 31, 2023 and for each of the five following years and thereafter ending December 31 are as follows: ​ ​ ​ ​ ​ Years ending December 31, ​ 2024 ​ ​ 900,000 2025 ​ 900,000 2026 ​ 900,000 2027 ​ 900,000 2028 ​ 900,000 Thereafter ​ 7,153,000 ​ ​ $ 11,653,000 ​

Right of Use Asset - Operating

Right of Use Asset - Operating Lease	12 Months Ended
	Dec. 31, 2023
Right of Use Asset - Operating Lease
Right of Use Asset - Operating Lease	9. Right of Use Asset – Operating Lease In November 2022, we entered into an operating lease for office space (“Office Lease”) for a period of sixty-six The Office Lease is classified as an operating lease. A “right to use” or “ROU asset” represents the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. The Office Lease did not provide an explicit rate of interest; therefore we used an estimated incremental borrowing rate of 5% based on a fully collateralized and fully amortizing loan with a maturity date of the same length as the lease that is based on information available at the commencement date in determining the present value of lease payments. At inception, we recorded an ROU asset and lease liability of approximately $0.9 million. As a result, the Company had non-cash liabilities Supplemental balance sheet information related to the Office Lease as of December 31, 2023 is as follows: ​ ​ ​ ​ ​ ​ ​ Component Consolidated Balance Sheet Caption ​ Right of use asset - operating Other assets, net ​ $ 698,000 Lease liability - operating Accounts payable and accrued liabilities ​ $ 877,000 ​ Lease expense is presented as part of continuing operations within general and administrative expenses in the consolidated statements of operations. For the year ended December 31, 2023 and 2022, we recognized approximately $182,000 and $87,000, respectively, in lease expense related to this lease. The lease payments are classified within operating activities in the consolidated statements of cash flows. As of December 31, 2023 and 2022, we paid approximately$103,000 and $26,000, respectively, in lease payments and the weighted average remaining lease term is 4.3 years. Pursuant to ASC 842, lease payments on the Office Lease for each of the five following years ending December 31 are as follows: ​ ​ ​ ​ ​ Year Lease payments 2024 ​ ​ 211,000 2025 ​ 217,000 2026 ​ 224,000 2027 ​ 231,000 2028 ​ 98,000 Total lease payments ​ $ 981,000 Less imputed interest ​ (104,000) Total lease liability ​ $ 877,000 ​

Concentration of Risk

Concentration of Risk	12 Months Ended
	Dec. 31, 2023
Concentration of Risk
Concentration of Risk	10. Concentration of Risk As of December 31, 2023, we owned eight properties in Georgia, four properties in California, three properties in Oregon, one property in Texas, one property in Illinois, and one property in Arizona (excluding the 31 properties held by our Equity-Method Investments). Accordingly, there is a geographic concentration of risk subject to economic conditions in certain states. Additionally, as of December 31, 2023, we leased our 16 real estate properties to 14 different tenants under long-term triple net leases. For the year ended December 31, 2023, three of the 14 tenants each had rental revenue greater than 10% (17%, 14% and 10%). As of December 31, 2022, we leased our 16 real estate properties to 14 different tenants under long-term triple net leases. For the year ended December 31, 2022, three of the 14 tenants each had rental revenue greater than 10% (16%, 14%, and 10%). ​ As of December 31, 2023, our GA8 Properties are considered to be a significant asset concentration as the aggregate net assets of the GA8 Properties were greater than 20% of our total assets due to cross-default provisions in the leases.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies
Commitments and Contingencies	11. Commitments and Contingencies We inspect our properties under a Phase I assessment for the presence of hazardous or toxic substances. While there can be no assurance that a material environmental liability does not exist, we are not currently aware of any environmental liability with respect to the properties that would have a material effect on our consolidated financial condition, results of operations and cash flows. Further, we are not aware of any environmental liability or any unasserted claim or assessment with respect to an environmental liability that we believe would require additional disclosure or the recording of a loss contingency. Our commitments and contingencies include the usual obligations of real estate owners and licensed operators in the normal course of business. In the opinion of management, these matters are not expected to have a material impact on our consolidated financial condition, results of operations and cash flows. We are also subject to contingent losses resulting from litigation against the Company. Legal Proceedings HCRE In September 2015, a bankruptcy petition was filed against Healthcare Real Estate Partners, LLC (“HCRE”) by the investors in Healthcare Real Estate Fund, LLC and Healthcare Real Estate Qualified Purchasers Fund, LLC (collectively, the “Funds”). HCRE did not timely respond to the involuntary petition and the Bankruptcy Court entered an Order of Relief making HCRE a debtor in bankruptcy. As a result, HCRE was removed as manager under the Funds’ operating agreement. Thereafter the Company became the manager of the Funds and purchased the investors’ interests in the Funds for approximately $0.9 million. Following the subsequent dismissal of the involuntary bankruptcy petition filed against it, HCRE filed a motion for attorneys’ fees and damages and a separate complaint for violation of the automatic stay against the petitioning creditors and the Company in the United States Bankruptcy Court of the District of Delaware. The Bankruptcy Court granted a motion to dismiss the complaint for violation of the automatic stay filed jointly by the petitioning creditors and us, and dismissed the complaint with prejudice. HCRE appealed the Bankruptcy Court’s decision to the United States District Court for the District of Delaware which affirmed the Bankruptcy Court’s dismissal of the complaint in a decision dated September 9, 2018. On October 11, 2018, HCRE appealed the District Court’s decision affirming the Bankruptcy Court’s dismissal of the complaint to the United States Court of Appeals for the Third Circuit. On October 22, 2019, the Third Circuit granted HCRE’s appeal, reversing the District Court and holding that HCRE could assert the adversary complaint seeking damages for violation of the automatic stay. The Company filed a Petition for Rehearing on November 5, 2019 asserting that HCRE is not entitled to assert a claim for damages for violation of the automatic stay. This Petition was denied and the mandate was issued sending the matter back to the Bankruptcy Court. The Bankruptcy Court held a status conference on February 4, 2021, and subsequently entered scheduling orders to govern discovery and pretrial matters. The parties filed dispositive motions, including a motion filed by the Company and the petitioning creditors for judgment on the pleadings. On February 4, 2022, the Bankruptcy Court entered an order denying the motion for judgment on the pleadings on the basis that the Bankruptcy Court would consider the points raised therein after trial. The Bankruptcy Court also entered an order denying HCRE’s motion to dismiss certain counterclaims and severing certain other counterclaims asserted by the petitioning creditors and the Company against HCRE on jurisdictional grounds, with the effect that such counterclaims may be pursued in the United States District Court. Trial in the Bankruptcy Court was conducted on January 9 and 10, 2023, with final concluding arguments presented on January 19, 2023. On May 12, 2023, the Court issued an opinion to award the plaintiffs $75,000 for reimbursement of legal fees related to the filing of the involuntary bankruptcy petition plus $517,000 for reimbursement of attorney’s fees related to the stay violation. Several additional motions have been filed and were heard in September 2023. On November 14, 2023, the Bankruptcy Court entered a further Memorandum Opinion, which modified the award for reimbursement of attorneys’ fees for the stay violation from $517,000 to $665,000, though a final judgment has not yet been entered by the Bankruptcy Court. Subject to entry of judgment, the Company has filed an appeal of the fee award related to the stay violation and also asserts that any award should be offset by the Company’s counterclaims that remain pending in the district court. Based on the assessment by management, as of December 31, 2023, the Company has accrued $75,000 for the reimbursement of legal fees related to the involuntary petition filing and $0 for the $665,000 in attorney’s fees related to the stay violation as we believe that a loss is currently not probable under Accounting Standards Codification 450, “Contingencies.” Eikanas Dispute On May 15, 2023, the Board of Directors of the Company sent Kent Eikanas, the then-Chief Executive Officer, written notice of various deficiencies in his performance , thereby initiating the 60-day cure period required by Mr. Eikanas’ Amended and Restated Employment Agreement, dated October 19, 2021. On July 14, 2023 (the “Termination Date”), after the expiration of the 60-day cure period, the Board of Directors (the “Board”) of the Company terminated, for cause, Mr. Eikanas from his position as Chief Executive Officer and Secretary of the Company. Per the terms of his employment agreement, upon Mr. Eikanas’ termination for cause, Mr. Eikanas is also deemed to have resigned, as of the Termination Date, from all positions with the Company and its subsidiaries, the Board and any boards of directors or managers of any of Company’s subsidiaries and affiliates. On June 5, 2023, Mr. Eikanas filed a lawsuit against the Company in the Superior Court of California for, among other things, wrongful termination and breach of contract, and seeking unspecified monetary damages. On April 8, 2024, Mr. Eikanas amended his Complaint to add additional causes of action and three new defendants – Steven Roush, Board Member; Suzanne Koenig, Board Member; and Elizabeth Pagliarini, Chief Executive Officer and Board Member. Based on the assessment by management, the Company believes that a loss is currently not probable or estimable under ASC 450, “Contingencies”, and as of December 31, 2023, no accrual has been made with regard to the claim. 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. Management of our Equity-Method Investments As the manager of our Equity-Method Investments, we are responsible for managing the day-to-day operations. Additionally, we could be subject to a capital call from our Equity-Method Investments.

Equity

Equity	12 Months Ended
	Dec. 31, 2023
Equity
Equity	12. Equity Distributions The Company declared no cash distributions per common share during the years ended December 31, 2023 and 2022. Our distribution reinvestment plan was suspended indefinitely effective December 31, 2010. At this time, we cannot provide any assurance as to if or when we will resume our distribution reinvestment plan. Share-Based Compensation Plans Upon the grant of stock options, we determine the exercise price by using our estimated per-share value, which is calculated by aggregating the estimated fair value of our investments in real estate and the estimated fair value of our other assets, subtracting the book value of our liabilities, utilizing a discount for the fact that the shares are not currently traded on a national securities exchange and a lack of a control premium, and divided the total by the number of our common shares outstanding at the time the options were granted. The fair value of each grant is estimated on the date of grant using the Black-Scholes option-pricing model. Assumptions required by the model include the risk-free interest rate, the expected life of the options, the expected stock price volatility over the expected life of the options, and the expected distribution yield. Compensation expense for employee stock options is recognized ratably over the vesting term. The expected life of the options was based on the simplified method as we do not have sufficient historical exercise data. The risk-free interest rate was based on the U.S. Treasury yield curve at the date of grant using the expected life 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. Summit Healthcare REIT, Inc. 2015 Omnibus Incentive Plan On October 28, 2015, we adopted the Summit Healthcare REIT, Inc. 2015 Omnibus Incentive Plan (“Incentive Plan”). The purpose of the Incentive Plan is to provide a means through which to attract and retain key personnel and to provide a means whereby current or prospective directors, officers, employees, consultants and advisors can acquire and maintain an equity interest in us, or be paid incentive compensation, including incentive compensation measured by reference to the value of our common stock, thereby strengthening their commitment to our welfare and aligning their interests with those of our stockholders. We may grant non-qualified stock options and incentive stock options, stock appreciation rights, restricted stock and restricted stock units, and performance based compensation awards. Stock options granted under the Incentive Plan are required to have a per share exercise price that is not less than 100% of the fair market value of our common stock underlying such stock options on the date an option is granted (other than in the case of options that are substitute awards). All stock options that are intended to qualify as incentive stock options must be granted pursuant to an award agreement expressly stating that the option is intended to qualify as an incentive stock option, and will be subject to the terms and conditions that comply with the rules as may be prescribed by Section 422 of the Code. The maximum term for stock options granted under the Incentive Plan will be ten years from the initial date of grant. The Incentive Plan provides that the total number of shares of common stock that may be issued is 3,000,000, of which 1,851,937 is available for future issuances as of December 31, 2023. On April 1, 2023, we granted 80,000 stock options to our non-executive employees under our Summit Healthcare REIT, Inc. 2015 Omnibus Incentive Plan (“Incentive Plan”). The stock options vest monthly beginning on May 1, 2023 and continuing over a three-year period through April 1, 2025. The options expire 10 years from the grant date. The weighted-average fair value per share of the stock options granted was $0.91. In October 2023, 880,845 vested shares were forfeited due to the termination of an employee. The estimated fair value using the Black-Scholes option-pricing model with the following weighted average assumptions: ​ ​ ​ ​ ​ ​ ​ 2023 Stock options granted ​ 80,000 ​ Expected volatility ​ 37.34 % Expected term ​ 5.75 years Risk-free interest rate ​ 3.65 % Dividend yield ​ 0 % Fair value per stock option ​ $ 0.91 ​ ​ The following table summarizes our stock options as of December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ ​ ​ ​ Average ​ Remaining ​ Aggregate ​ ​ ​ ​ Exercise ​ Contractual ​ Intrinsic ​ Options Price Term Value Options outstanding at January 1, 2022 ​ 1,867,908 ​ $ 2.09 ​ ​ ​ ​ ​ Granted ​ 81,000 ​ ​ 2.35 ​ ​ ​ ​ ​ Exercised ​ — ​ ​ ​ ​ ​ ​ ​ ​ Cancelled/forfeited ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Options outstanding at December 31, 2022 1,948,908 ​ $ 2.10 ​ ​ ​ ​ ​ Granted 80,000 ​ 2.18 ​ ​ ​ ​ ​ Exercised — ​ ​ ​ ​ ​ ​ ​ Cancelled/forfeited 880,845 ​ 2.02 ​ ​ ​ ​ ​ Options outstanding at December 31, 2023 1,148,063 ​ $ 2.16 ​ 4.79 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Options exercisable at December 31, 2023 1,049,840 ​ $ 2.15 ​ 4.41 ​ $ — ​ For our outstanding non-vested options as of December 31, 2023, the weighted average grant date fair value per share was $0.91. As of December 31, 2023, we have unrecognized stock-based compensation expense related to unvested stock options which is expected to be recognized as follows: ​ ​ ​ ​ ​ Years Ending December 31, ​ 2024 ​ ​ 49,000 2025 ​ 32,000 2026 ​ 8,000 ​ ​ $ 89,000 ​ The stock-based compensation expense reported for the years ended December 31, 2023 and 2022 was approximately $41,000 and $31,000, respectively, and is included in general and administrative expense in the consolidated statements of operations.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2023
Segment Reporting
Segment Reporting	13. Segment Reporting ASC 280, Segment Reporting

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events
Subsequent Events	14. Subsequent Events CA3 Properties In February 2024, we entered into a Purchase and Sale Agreement (“PSA”) to sell our CA3 Properties. The aggregate purchase price is $30.0 million and the transaction is expected to close in the second quarter of 2024. Either party may terminate the agreement for non-satisfaction or failure of a condition to the obligation of either party to consummate the transaction contemplated by this PSA, unless such matter has been satisfied or waived by the date specified in this PSA or by the closing date. GA8 Properties On March 13, 2024, we received a notice of default, dated March 12, 2024, from Oxford for the mezzanine loan, whereby the mezzanine lender has exercised certain rights, including, their right to act as attorney-in-fact of Summit Georgia Holdings LLC, appointment of an independent manager over the GA8 Properties, thereby removing the Company as the manager and removing the Company’s voting rights and rights to receive any distributions with respect to such properties. The Oxford notice of default also constitutes an event of default under the GA8 Properties subordinated term loan with Oxford and the mortgage loan with CIBC Bank, USA. We are currently analyzing this contractual change and the impact on our continued consolidation of Summit Georgia and the underlying GA8 Properties that included the following in our consolidated balance sheet as of December 31, 2023: $98.4 million in real estate properties, net, $10.4 million in intangible lease assets, net, and $122.8 million of loans payable, net, and the following in our statement of operations for the year ended December 31, 2023: $11.8 million in total rental revenues, $1.3 million in property operating costs, $5.1 million in depreciation and amortization and $13.2 million in interest expense.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Summary of Significant Accounting Policies
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, the Operating Partnership, and its consolidated companies and are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). All intercompany accounts and transactions have been eliminated in consolidation. Accounting Standard Codification (“ASC”) 810, Consolidation
Variable Interest Entities	Variable Interest Entities We analyze our contractual and/or other interests to determine whether such interests constitute an interest in a variable interest entity (VIE) in accordance with ASC 810, Consolidation
Use of Estimates	Use of Estimates The preparation of our consolidated financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses. We base these estimates on various assumptions that we believe to be reasonable under the circumstances, and these estimates form the basis for our judgments concerning the carrying values of assets and liabilities that are not readily apparent from other sources. We periodically evaluate these estimates and judgments based on available information and experience. Actual results could differ from our estimates under different assumptions and conditions. If actual results significantly differ from our estimates, our financial condition and results of operations could be materially impacted. The most significant estimates made include that of real estate acquisition valuation and the allocation of property purchase price to tangible and intangible assets acquired and liabilities assumed at relative fair value, the evaluation of potential impairment of long-lived assets and equity method investments, and the estimated useful lives of real estate assets and intangibles.
Cash and Cash Equivalents	Cash and Cash Equivalents We consider all short-term, highly liquid investments that are readily convertible to cash with a maturity of three months or less at the time of purchase to be cash equivalents. As of December 31, 2023, we had cash accounts in excess of FDIC-insured limits. To date, the Company has not experienced losses or lack of access to cash in its cash and cash equivalent accounts.
Restricted Cash	Restricted Cash Restricted cash represent restricted cash held by our lenders in interest bearing accounts related to impound reserve accounts for property taxes, insurance and capital funds as required under the terms of the loan agreements. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown on the consolidated statements of cash flows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2023 2022 Cash and cash equivalents ​ $ 10,997,000 ​ $ 11,572,000 Restricted cash ​ 3,186,000 ​ 2,591,000 Total cash, cash equivalents, and restricted cash shown on the consolidated statements of cash flows ​ $ 14,183,000 ​ $ 14,163,000
Investments in Real Estate and Depreciation	Investments in Real Estate and Depreciation We allocate the purchase price of our properties in accordance with ASC 805 – Business Combinations. If the acquisition does not meet the definition of a business, we record the acquisition as an asset acquisition. For transactions that are business combinations, acquisition costs are expensed as incurred. For transactions that are an asset acquisition, acquisition costs are capitalized as incurred. Upon an asset acquisition of a property, we allocate the purchase price of the property based upon the relative fair value of the tangible and intangible assets acquired and liabilities assumed, which generally consists of land, buildings, site improvements, furniture and fixtures and intangible assets. The determination of fair value involves the use of significant judgment and estimation. We value land based on various inputs, which may include internal analysis of recently acquired properties, existing comparable properties within our portfolio, or third party appraisals or valuations based on comparable sales. We allocate the purchase price to tangible assets of an acquired property by valuing the property as if it were vacant. We are required to make subjective assessments as to the estimated useful lives of our depreciable assets. We consider the period of future benefit of the assets to determine the appropriate estimated useful lives. Depreciation of our assets is being charged to expense on a straight-line basis over the estimated useful lives. We depreciate the fair value allocated to building and improvements over estimated useful lives ranging from 15 to 39 years. We estimate the value of furniture and fixtures based on the assets’ depreciated replacement cost. We depreciate the fair value allocated to furniture and fixtures over estimated useful lives ranging from three In allocating the purchase price to identified intangible assets and liabilities of an acquired property, the value of above/below-market leases and in-place leases are estimated as follows: The value of above/below market leases is based on the differences between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) estimated fair market lease rates from the perspective of a market participant for the corresponding in-place leases, measured, for above-market leases, over a period equal to the remaining non-cancelable term of the lease and, for below-market leases, over a period equal to the initial term plus any below market fixed rate renewal periods. The above/below market leases are amortized as an adjustment to rental revenue over the remaining term of the respective leases. The value of in-place leases consisting of tenant origination and absorption costs and leasing commissions avoided is based on the Company’s evaluation of the specific characteristics of each tenant’s lease. Factors considered include estimates of carrying costs during expected lease-up periods, current market conditions, discount rates, and costs to execute similar leases. The value of in-place leases are amortized over the remaining term of the respective leases and included in depreciation and amortization in the consolidated statements of operations. If a tenant vacates its space prior to its contractual expiration date, any unamortized balance of the related intangible asset is recorded in the consolidated statements of operations. Held for Sale We consider properties to be assets held for sale when (1) management commits to a plan to sell the property, (2) it is unlikely that the disposal plan will be significantly modified or discontinued; (3) the property is available for immediate sale in its present condition; (4) actions required to complete the sale of the property have been initiated; (5) sale of the property is probable and we anticipate the completed sale will occur within one year; and (6) the property is actively being marketed for sale at a price that is reasonable given our estimate of current market value. Upon designation of a property as an asset held for sale, we record the property’s value at the lower of its carrying value or its estimated fair value, less estimated transaction costs. Depreciation and amortization of the property are discontinued. If a property subsequently no longer meets the criteria to be classified as held for sale, it is reclassified as held and used and measured at the lower of i) its original carrying amount before the asset was classified as held for sale, adjusted for any depreciation expense not recognized while it was classified as held for sale, and ii) its fair value.
Impairment of Real Estate Properties and Related Intangible Lease Assets	Impairment of Real Estate Properties and Related Intangible Lease Assets We evaluate the recoverability of the carrying value of our real estate properties and related intangible lease assets on a property-by-property basis. We review our real estate properties and related intangible lease assets for recoverability when events or circumstances, including changes in the Company’s use of property or the strategy for its overall business, plans to sell a property before its depreciable life has ended, occupancy changes, significant near-term lease expirations, significant deteriorations of the underlying cash flows of the property, and other market factors indicate that the carrying amount of the property may not be recoverable. Impairment is measured as the amount by which the carrying amount of the real estate properties and related intangible lease assets exceeds the fair value of the property. During 2023, we recorded an impairment of $11.4 million ($10.3 million for real estate properties and $1.1 million for intangible
Fair Value Measurements	Fair Value Measurements Fair value represents the estimate of the proceeds to be received, or paid in the case of a liability, in a current transaction between willing parties. ASC 820, Fair Value Measurement, Financial assets and liabilities are categorized based on the inputs to the valuation techniques as follows: Level 1. Level 2. Level 3. Assets and liabilities measured at fair value are classified according to the lowest level input that is significant to their valuation. A financial instrument that has a significant unobservable input along with significant observable inputs may still be classified as a Level 3 instrument. We generally determine or calculate the fair value of financial instruments using quoted market prices in active markets when such information is available or use appropriate present value or other valuation techniques, such as discounted cash flow analyses, incorporating available market discount rate information for similar types of instruments and our estimates for non-performance and liquidity risk. These techniques are significantly affected by the assumptions used, including the discount rate, credit spreads, and estimates of future cash flow. As of and for the year ended December 31, 2023, our equity method investment in the Fantasia II JV was measured at fair value, on a nonrecurring basis using unobservable (level 3) inputs. We estimated the fair value of our equity-method investments based on discounted future cash flows. As a result, we recognized an impairment loss of $0.5 million (see Note 5). As of and for the year ended December 31, 2022, our equity method investment in the Fantasia I JV and FPH JV was measured at fair value, on a nonrecurring basis using unobservable (level 3) inputs. We estimated the fair value of our equity-method investments based on discounted future cash flows. As a result, we recognized an impairment loss of $0.4 million (see Note 5). See above under Impairment of Real Estate Properties for further information.
Fair Value Measurement of Financial Instruments	Fair Value Measurement of Financial Instruments Our consolidated balance sheets include the following financial instruments: cash and cash equivalents, restricted cash, tenant and other receivables, certain other assets, accounts payable and accrued liabilities, security deposits and loans payable. With the exception of the loans payable discussed below, we consider the carrying values to approximate fair value for such financial instruments because of the short period of time between origination of the instruments and their expected payment. These are considered a Level I inputs. As of December 31, 2023 and 2022, the fair value of our fixed rate U.S. Department of Housing and Urban Development (“HUD”)-insured loans payable was $36.4 million and $38.9 million, compared to the principal balance (excluding debt issuance costs) of $43.9 million and $45.0 million, respectively. The fair value of loans payable was estimated using lending rates available to us for financial instruments with similar terms and maturities. The fair value of our fixed and variable rate loans payable was estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. As the inputs to our valuation estimate are neither observable in nor supported by market activity, our loans payable are classified as Level 3 liability within the fair value hierarchy. As of December 31, 2023 and 2022, we believe the carrying amounts of our variable rate loans payable are reasonably estimated at their carrying amounts as there have been minimal changes to the fixed spread portion of interest rates for similar loans observed in the market, and as the variable portion of our interest rates fluctuate with the associated market indices. We believe the fair value of our variable rate mezzanine loan payable which is currently in default approximates the carrying amount based on the contractual rights of the mezzanine loan payable holders. See Note 14 for additional discussion. At December 31, 2023 and 2022, we do not have any significant financial assets or financial liabilities that are measured at fair value on a recurring basis in our consolidated financial statements.
Tenant and Other Receivables	Tenant and Other Receivables Tenant and other receivables are comprised mainly of the cumulative amount of future adjustments necessary to present tenant rental income on a straight-line basis, accounts receivable due from residents for our Operated Properties, asset management fees and distributions receivable.
Allowance for Credit Losses	Allowance for Credit Losses The allowance for credit losses is maintained on all receivables except for lease receivables and is maintained at a level believed adequate to absorb potential losses in our receivables. The determination of the credit allowance is based on a quarterly evaluation of each of these receivables, including general economic conditions and estimated collectability. We evaluate the collectability of our receivables based on a combination of credit quality indicators, including, but not limited to, payment status, historical charge-offs, and financial strength of the equity method investment. A receivable is considered to have deteriorated in credit quality when, based on current information and events, it is probable that we will be unable to collect all amounts due. As of December 31, 2023 and 2022, the allowance for credit losses is immaterial.
Deferred Financing Costs	Deferred Financing Costs Costs incurred with potential financing arrangements are recorded as deferred financing costs. Costs incurred in connection with completed debt financing are recorded as debt issuance costs. Debt issuance costs are amortized using the straight-line basis which approximates the effective interest rate method, over the contractual terms of the respective financings, and are presented net of loans payable in loans payable, net of debt issuance costs, in the consolidated balance sheets. Costs incurred in connection with an unexercised debt financing are recorded as expense when financing is no longer deemed probable. For the year ended December 31, 2023, we recorded approximately $0.7 million in property operating costs expense in the consolidated statements of operations for deferred financing costs associated with a terminated refinancing related to the CA3 Properties.
Other Assets	Other Assets Other assets consist primarily of deferred financing costs, deposits, prepaid insurance, property taxes and other and corporate assets. Additionally, other assets will be amortized to expense over their future service periods. Balances without future economic benefit are expensed as they are identified.
Equity-Method Investments	Equity-Method Investments We report our investments in unconsolidated entities, over whose operating and financial policies we have the ability to exercise significant influence but not control, under the equity method of accounting. Under this method of accounting, our pro rata share of the applicable entity’s earnings or losses is included in our consolidated statements of operations. We initially record our investments based on either the carrying value for properties contributed or the cash invested. We evaluate our Equity-Method Investments for impairment whenever events or changes in circumstances indicate that the carrying value of our investments may exceed the fair value. If it is determined that a decline in the fair value of our investments is not temporary, and if such reduced fair value is below its carrying value, an impairment is recorded. Determining fair value involves significant judgment. Our estimates consider available evidence including the present value of the expected future cash flows discounted at market rates, general economic conditions and other relevant factors. For the year ended December 31, 2023, we recorded impairment of approximately $0.5 million related to our equity-method investments. For the year ended December 31, 2022, we recorded impairment of approximately $0.4 million related to our equity-method investments. See Note 5 for further information.
Rental Revenue	Rental Revenue We recognize rental revenue based on ASC 842, Leases Additionally, where real estate taxes and insurance expenses were paid directly by our tenants to taxing authorities or insurance companies, respectively, we do not record any revenue or expense. For our triple-net leasing arrangements in which the tenant remits payment for certain costs to us and we pay the vendor, we have reported the gross amounts in total rental revenues and property operating costs on the consolidated statements of operations. Additionally, under Topic 842, we must assess if substantially all payments due under the lease are likely to be collected. If tenant lease payments are not likely to be collected, then the revenues will be recognized on a cash basis (or if the answer changes at a later date, the revenues are adjusted to reflect what it would have been on a cash basis) and the adjustments will be recorded through rental revenues, rather than bad debt expense. During 2022, we determined that two of our leases were uncollectible and therefore, we recorded rental revenue received from those tenants on the cash basis.
Resident Fees and Services Revenue	Resident Fees and Services Revenue We recognize resident fees and services revenue at the amount that we expect to be entitled to in exchange for providing resident care and services. Resident fees are recognized and billed monthly based on the contracted rate in the resident lease agreements and the reimbursements from Medicaid are based on contracted reimbursement rates. These amounts are paid directly from the residents and/or third-party payors (currently only Medicaid). Revenue is recognized as performance obligations are satisfied. Performance obligations are determined based on the nature of the services provided by us. The majority of resident fees and services is attributable to the portion of the base monthly lease fee in the resident lease agreement. The Company recognizes the resident fee revenue based upon the predominant component, either the lease or non-lease component, of the contracts. The Company has determined that the lease component is the predominant component and the services included under the resident agreements have the same timing and pattern of transfer and are performance obligations that are satisfied over time. Resident services consist of care level services and certain other ancillary services (i.e., housekeeping, laundry, etc.). These services are provided and paid for in addition to the standard fees included in each resident lease (i.e., room and board, standard meals, etc.).
Asset Management Fees	Asset Management Fees We record asset management fee revenue based on ASC 606, Revenue from Contracts with Customers (Topic 606)
Stock-Based Compensation	Stock-Based Compensation We record stock-based compensation expense for share-based payments to employees and directors, including grants of stock options based on the estimated fair value of the options on the date of grant using the Black-Scholes option-pricing model. Compensation expense is recognized ratably over the vesting term and is included in general and administrative expense in our consolidated statements of operations. Forfeitures are recognized as they occur. See Note 12 for further information.
Noncontrolling Interest in Consolidated Subsidiary	Noncontrolling Interest in Consolidated Subsidiary Noncontrolling interest relates to the interest in the consolidated entities that are not wholly-owned by us. As of December 31, 2023 and 2022, the noncontrolling interest mainly relates to CHP, LLC. ASC 810-10-65, Consolidation We periodically evaluate individual noncontrolling interests for the ability to continue to recognize the noncontrolling interest as permanent equity in the consolidated balance sheets. Any noncontrolling interest that fails to qualify as permanent equity will be reclassified as temporary equity and adjusted to the greater of (a) the carrying amount, or (b) its redemption value as of the end of the period in which the determination is made.
Income Taxes	Income Taxes We have elected to be taxed as a REIT, under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”) beginning with our taxable year ending December 31, 2006. To qualify as a REIT, we must meet certain organizational and operational requirements, including a requirement to currently distribute at least 90% of the REIT's ordinary taxable income to stockholders. As a REIT, we generally will not be subject to federal income tax on taxable income that we distribute to our stockholders. If we fail to qualify as a REIT in any taxable year, we will then be subject to federal income taxes on our taxable income at regular corporate rates and will not be permitted to qualify for treatment as a REIT for federal income tax purposes for four years following the year during which qualification is lost unless the Internal Revenue Service were to grant us relief under certain statutory provisions. Such an event could materially and adversely affect our net loss and net cash available for distribution to stockholders. However, we believe that we will be organized and operate in such a manner as to qualify for treatment as a REIT and intend to operate for the foreseeable future in such a manner so that we will remain qualified as a REIT for federal income tax purposes. Given the applicable statute of limitations, we generally are subject to audit by the Internal Revenue Service ("IRS") for the year ended December 31, 2020 and subsequent years, and state income tax returns are subject to audit for the year ended December 31, 2019 and subsequent years. We have elected to treat SAM TRS and SHOP TRS as taxable REIT subsidiaries (collectively, the “TRS Subsidiaries”), which generally may engage in any business, including the provision of customary or non-customary services for our tenants. The TRS Subsidiaries are treated as a regular corporation and are subject to federal income tax and applicable state income and franchise taxes at regular corporate rates. As of December 31, 2023 and 2022, respectively, the TRS Subsidiaries have net deferred tax assets, related primarily to their net operating losses (collectively “NOL”), of $1,142,000 and $683,000, for which there is a full valuation allowance recorded. The Company regularly assesses the ability to realize deferred tax assets recorded based upon the weight of available evidence, including such factors as recent earnings history and expected future taxable income on a jurisdiction-by-jurisdiction basis. If the Company changes its determination as to the amount of realizable deferred tax assets, the Company will adjust its valuation allowance with a corresponding impact to the provision for income taxes in the period in which such determination is made. The Company’s management believes that, based on a number of factors, it is more likely than not, that all or some portion of the deferred tax assets will not be realized; and accordingly, for the year ended December 31, 2023, the Company continues to provide a full valuation allowance against the TRS Subsidiaries net deferred tax assets. The net change in the valuation allowance for the year ended December 31, 2023 was an increase of $457,000. As of December 31, 2023, the TRS Subsidiaries have NOL carryforwards for federal income tax purposes of approximately $4.2 million that will begin to expire in 2035 with approximately $2.4 million of the federal net operating loss carryforward lasting indefinitely. As of December 31, 2023, the TRS Subsidiaries had net operating loss carryforwards for state income tax purposes of approximately $4.4 million that will begin to expire at various dates beginning in 2035.
Uncertain Tax Positions	Uncertain Tax Positions In accordance with the requirements of ASC 740, Income Taxes,
Basic and Diluted Net Income (Loss) and Distributions per Common Share	Basic and Diluted Net Income (Loss) and Distributions per Common Share Basic earnings per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income (loss) by the weighted-average number of common shares and dilutive potential common shares outstanding during the period. Dilutive potential common shares are calculated in accordance with the treasury stock method. For the years ended December 31, 2023 and 2022, all stock options outstanding were considered to be anti-dilutive.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Summary of Significant Accounting Policies
Schedule of reconciliation of cash, cash equivalents, and restricted cash	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2023 2022 Cash and cash equivalents ​ $ 10,997,000 ​ $ 11,572,000 Restricted cash ​ 3,186,000 ​ 2,591,000 Total cash, cash equivalents, and restricted cash shown on the consolidated statements of cash flows ​ $ 14,183,000 ​ $ 14,163,000

Investments in Real Estate Pr_2

Investments in Real Estate Properties (Tables)	12 Months Ended
	Dec. 31, 2023
Investments in Real Estate Properties
Schedule of investments in real estate properties	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2023 ​ 2022 Land ​ $ 14,905,000 ​ $ 15,565,000 Buildings and improvements ​ 157,875,000 ​ 166,989,000 Less: accumulated depreciation ​ (20,439,000) ​ (15,985,000) Buildings and improvements, net ​ 137,436,000 ​ 151,004,000 Furniture and fixtures ​ 12,106,000 ​ 12,440,000 Less: accumulated depreciation ​ (7,481,000) ​ (5,882,000) Furniture and fixtures, net ​ 4,625,000 ​ 6,558,000 Real estate properties, net ​ $ 156,966,000 ​ $ 173,127,000
Schedule of real estate properties	The following table provides summary information regarding our portfolio (excluding the 31 properties owned by our unconsolidated Equity-Method Investments and the $12.75 million mezzanine loan from Oxford (see Note 4) with Summit Georgia Holdings LLC (“Summit Georgia”), our wholly-owned subsidiary) as of December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Payable, ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Excluding ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Debt ​ ​ ​ ​ ​ ​ ​ ​ ​ Purchase ​ Issuance Property Location Date Purchased Type (1) Price Costs Sheridan Care Center ​ ​ Sheridan, OR ​ August 3, 2012 ​ SNF ​ $ 4,100,000 ​ $ 3,829,000 Fernhill Care Center ​ ​ Portland, OR ​ August 3, 2012 ​ SNF ​ ​ 4,500,000 ​ 3,359,000 Friendship Haven Healthcare and Rehabilitation Center ​ ​ Galveston County, TX ​ September 14, 2012 ​ SNF ​ ​ 15,000,000 ​ 11,109,000 Pacific Health and Rehabilitation Center ​ ​ Tigard, OR ​ December 24, 2012 ​ SNF ​ ​ 8,140,000 ​ 5,600,000 Brookstone of Aledo ​ ​ Aledo, IL ​ July 2, 2013 ​ AL ​ ​ 8,625,000 ​ ​ 6,461,000 Sundial Assisted Living ​ ​ Redding, CA ​ December 18, 2013 ​ AL ​ ​ 3,500,000 ​ ​ 3,626,000 Pennington Gardens ​ ​ Chandler, AZ ​ July 17, 2017 ​ AL/MC ​ ​ 13,400,000 ​ ​ 9,877,000 Yucaipa Hill Post Acute ​ ​ Yucaipa, CA ​ July 2, 2021 ​ SNF ​ ​ 10,715,000 ​ ​ 8,014,000 Creekside Post Acute ​ ​ Yucaipa, CA ​ July 2, 2021 ​ SNF ​ ​ 4,780,000 ​ ​ 3,575,000 University Post Acute ​ ​ Mentone, CA ​ July 2, 2021 ​ SNF ​ ​ 4,560,000 ​ 3,411,000 Calhoun Health Center ​ ​ Calhoun, GA ​ December 30, 2021 ​ SNF ​ ​ 7,670,000 ​ ​ 6,549,000 Maple Ridge Health Care Center ​ ​ Cartersville, GA ​ December 30, 2021 ​ SNF ​ ​ 13,548,000 ​ ​ 11,568,000 Chatsworth Health Care Center ​ ​ Chatsworth, GA ​ December 30, 2021 ​ SNF ​ ​ 29,785,000 ​ 25,432,000 East Lake Arbor ​ ​ Decatur, GA ​ December 30, 2021 ​ SNF ​ ​ 15,640,000 ​ 13,354,000 Fairburn Health Care Center ​ ​ Fairburn, GA ​ December 30, 2021 ​ SNF ​ ​ 14,644,000 ​ 12,503,000 Grandview Health Care Center ​ ​ Jasper, GA ​ December 30, 2021 ​ SNF ​ ​ 10,061,000 ​ 8,591,000 Rosemont at Stone Mountain ​ ​ Stone Mountain, GA ​ December 30, 2021 ​ SNF ​ ​ 23,908,000 ​ 20,414,000 Willowwood Nursing Center & Rehab ​ ​ Flowery Branch, GA ​ December 30, 2021 ​ SNF ​ ​ 14,744,000 ​ 12,589,000 Total: ​ ​ ​ ​ ​ ​ ​ $ 207,320,000 ​ $ 169,861,000 (1) SNF is an abbreviation for skilled nursing facility. AL is an abbreviation for assisted living facility. MC is an abbreviation for memory care facility.
Schedule of future minimum lease payments	​ ​ ​ ​ ​ Years ending December 31, ​ ​ 2024 ​ 18,272,000 2025 ​ 18,566,000 2026 ​ 18,865,000 2027 ​ 19,168,000 2028 ​ ​ 17,909,000 Thereafter ​ 137,999,000 ​ ​ $ 230,779,000

Loans Payable (Tables)

Loans Payable (Tables)	12 Months Ended
	Dec. 31, 2023
Loans Payable
Schedule of loans payable	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2023 December 31, 2022 Loans payable to Lument (insured by HUD) in monthly installments of approximately $183,000, including interest, ranging from a fixed rate of 2.79% to 4.2%, due in September 2039 through April 2055, and as of December 31, 2023 and 2022, collateralized by Sheridan, Fernhill, Pacific Health, Aledo, Sundial and Friendship Haven. ​ $ 33,984,000 ​ $ 34,976,000 ​ ​ ​ ​ ​ ​ ​ Loan payable to Capital One Multifamily Finance, LLC (insured by HUD) in monthly installments of approximately $49,000, including interest at a fixed rate of 4.23%, due in September 2053, and collateralized by Pennington Gardens. ​ ​ 9,877,000 ​ ​ 10,039,000 ​ ​ ​ ​ ​ ​ ​ Loan payable to CIBC Bank, USA in monthly installments of approximately $106,000 including cash collateral fund payments, variable interest rate as noted below (9.45% and 8.17% at December 31, 2023 and 2022, respectively), due in July 2024 and collateralized by Yucaipa Hills Post Acute, Creekside Post Acute and University Post Acute. ​ ​ 15,000,000 ​ ​ 15,000,000 ​ ​ ​ ​ ​ ​ ​ Loan payable to CIBC Bank, USA in monthly installments of approximately $680,000 (interest only through December 2023) variable interest rate as noted below (8.85% and 7.68% at December 31, 2023 and 2022, respectively), due in December 2024, and collateralized by Calhoun Health Center, Maple Ridge Health Care Center, Chatsworth Health Care Center, East Lake Arbor, Fairburn Health Care Center, Grandview Health Care Center, Rosemont at Stone Mountain, and Willowwood Nursing Center & Rehab. ​ ​ 91,000,000 ​ ​ 91,000,000 ​ ​ ​ ​ ​ ​ ​ Loan payable to Oxford Finance, LLC in monthly installments of approximately $280,000 (interest only through maturity), variable interest rate as noted below (16.4% and 15.1% at December 31, 2023 and 2022, respectively) due in March 2025, collateralized in second position by Calhoun Health Center, Maple Ridge Health Care Center, Chatsworth Health Care Center, East Lake Arbor, Fairburn Health Care Center, Grandview Health Care Center, Rosemont at Stone Mountain, and Willowwood Nursing Center & Rehab. ​ ​ 20,000,000 ​ ​ 20,000,000 ​ ​ ​ ​ ​ ​ ​ Mezzanine Loan payable to Oxford Finance, LLC in monthly installments of approximately $168,000 (interest only through maturity), variable interest rate as noted below (16.4% and 15.1% at December 31, 2023 and 2022, respectively) due in December 2026, secured by the equity interests of Summit Georgia, the parent holding company for the GA8 Properties. ​ ​ 12,750,000 ​ ​ 12,750,000 ​ ​ 182,611,000 ​ 183,765,000 Less debt issuance costs ​ (2,682,000) ​ (3,596,000) Total loans payable ​ $ 179,929,000 ​ $ 180,169,000
Schedule of principal payments due on the loans payable (excluding debt issuance costs)	​ ​ ​ ​ ​ ​ ​ ​ Principal Year Amount 2024 ​ 139,951,000 (1) 2025 ​ 1,246,000 ​ 2026 ​ 1,292,000 ​ 2027 ​ 1,341,000 ​ 2028 ​ ​ 1,391,000 ​ Thereafter ​ 37,390,000 ​ ​ ​ $ 182,611,000 ​ (1)

Equity-Method Investments (Tabl

Equity-Method Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Equity-Method Investments
Schedule of distributions receivable	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2023 2022 SULH JV ​ $ 311,000 ​ $ 259,000 Fantasia II JV ​ 30,000 ​ 55,000 Fantasia III JV ​ 87,000 ​ 22,000 FPH JV ​ 64,000 ​ 64,000 Total ​ $ 492,000 ​ $ 400,000
Schedule of cash distributions	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2023 ​ Year Ended December 31, 2022 ​ ​ Total Cash ​ Cash Flow ​ Cash Flow ​ Total Cash ​ Cash Flow ​ Cash Flow ​ ​ Distributions ​ from ​ from ​ Distributions ​ from ​ from ​ Received Operating Investing Received Operating Investing SUL JV ​ $ 1,706,000 ​ $ 760,000 ​ $ 946,000 ​ $ 615,000 ​ $ — ​ $ 615,000 Fantasia JV ​ — ​ — ​ — ​ — ​ — ​ — Fantasia II JV ​ 135,000 ​ — ​ 135,000 ​ 311,000 ​ 213,000 ​ 98,000 Fantasia III JV ​ 12,000 ​ — ​ 12,000 ​ 134,000 ​ 134,000 ​ — FPH JV ​ — ​ — ​ — ​ 56,000 ​ — ​ 56,000 Total ​ $ 1,853,000 ​ $ 760,000 ​ $ 1,093,000 ​ $ 1,116,000 ​ $ 347,000 ​ $ 769,000 ​

Receivables (Tables)

Receivables (Tables)	12 Months Ended
	Dec. 31, 2023
Receivables
Schedule of tenant and other receivables	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2023 2022 Straight-line rent receivables ​ $ 1,396,000 ​ $ 3,862,000 Distribution receivables from Equity-Method Investments ​ 492,000 ​ 400,000 Asset management fees ​ 327,000 ​ 375,000 Other receivables ​ 375,000 ​ 383,000 Total ​ $ 2,590,000 ​ $ 5,020,000 ​

Intangible Lease Assets (Tables

Intangible Lease Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Intangible Lease Assets
Schedule of intangible lease assets	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, December 31, ​ ​ 2023 ​ 2022 In-place leases ​ $ 12,680,000 ​ $ 13,778,000 Less: accumulated amortization ​ (1,831,000) ​ (937,000) In-place leases, net ​ 10,849,000 ​ 12,841,000 Above-market leases ​ 959,000 ​ 959,000 Less: accumulated amortization ​ (155,000) ​ (96,000) Above-market leases, net ​ 804,000 ​ 863,000 Total intangible lease assets, net ​ $ 11,653,000 ​ $ 13,704,000
Schedule of expected future amortization of the intangible lease assets	​ ​ ​ ​ ​ Years ending December 31, ​ 2024 ​ ​ 900,000 2025 ​ 900,000 2026 ​ 900,000 2027 ​ 900,000 2028 ​ 900,000 Thereafter ​ 7,153,000 ​ ​ $ 11,653,000 ​

Right of Use Asset - Operatin_2

Right of Use Asset - Operating Lease (Tables)	12 Months Ended
	Dec. 31, 2023
Right of Use Asset - Operating Lease
Schedule of supplemental balance sheet information related to the office lease	​ ​ ​ ​ ​ ​ ​ Component Consolidated Balance Sheet Caption ​ Right of use asset - operating Other assets, net ​ $ 698,000 Lease liability - operating Accounts payable and accrued liabilities ​ $ 877,000
Schedule of lease payments on the office lease	​ ​ ​ ​ ​ Year Lease payments 2024 ​ ​ 211,000 2025 ​ 217,000 2026 ​ 224,000 2027 ​ 231,000 2028 ​ 98,000 Total lease payments ​ $ 981,000 Less imputed interest ​ (104,000) Total lease liability ​ $ 877,000 ​

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2023
Equity
Schedule of estimated fair value using assumptions	​ ​ ​ ​ ​ ​ ​ 2023 Stock options granted ​ 80,000 ​ Expected volatility ​ 37.34 % Expected term ​ 5.75 years Risk-free interest rate ​ 3.65 % Dividend yield ​ 0 % Fair value per stock option ​ $ 0.91 ​
Schedule of stock options	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ ​ ​ ​ Average ​ Remaining ​ Aggregate ​ ​ ​ ​ Exercise ​ Contractual ​ Intrinsic ​ Options Price Term Value Options outstanding at January 1, 2022 ​ 1,867,908 ​ $ 2.09 ​ ​ ​ ​ ​ Granted ​ 81,000 ​ ​ 2.35 ​ ​ ​ ​ ​ Exercised ​ — ​ ​ ​ ​ ​ ​ ​ ​ Cancelled/forfeited ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Options outstanding at December 31, 2022 1,948,908 ​ $ 2.10 ​ ​ ​ ​ ​ Granted 80,000 ​ 2.18 ​ ​ ​ ​ ​ Exercised — ​ ​ ​ ​ ​ ​ ​ Cancelled/forfeited 880,845 ​ 2.02 ​ ​ ​ ​ ​ Options outstanding at December 31, 2023 1,148,063 ​ $ 2.16 ​ 4.79 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Options exercisable at December 31, 2023 1,049,840 ​ $ 2.15 ​ 4.41 ​ $ —
Schedule of unrecognized stock-based compensation expense	​ ​ ​ ​ ​ Years Ending December 31, ​ 2024 ​ ​ 49,000 2025 ​ 32,000 2026 ​ 8,000 ​ ​ $ 89,000 ​

Organization (Details)

Organization (Details)		1 Months Ended	12 Months Ended
	Jul. 03, 2023 USD ($)	Jul. 31, 2023	Dec. 31, 2023 property	Dec. 31, 2022 property
Summit Healthcare REIT, Inc
Organization
Percentage of ownership investment			100%
Number of owned properties			14
Summit Healthcare Operating Partnership, L.P
Organization
Limited partnership interest			99.88%
Cornerstone Healthcare Partners LLC
Organization
Limited partnership interest			95%
Cornerstone Healthcare Real Estate Fund
Organization
Noncontrolling interest, ownership percentage by noncontrolling owners			5%
JV Properties
Organization
Number of owned properties			4	4
Limited partnership interest			95.30%	95.30%
Noncontrolling interest, ownership percentage by noncontrolling owners			4.70%	4.70%
Summit Union Life Holdings, LLC
Organization
Number of owned properties			15	17
Limited partnership interest			10%	10%
Fantasia III JV
Organization
Number of owned properties			8	9
Limited partnership interest			10%	10%
Summit Fantasy Pearl Holdings, LLC
Organization
Number of owned properties			6	6
Limited partnership interest			10%	10%
Fantasia II JV
Organization
Number of owned properties			2	2
Limited partnership interest			20%	20%
Fantasia JV
Organization
Number of owned properties				35
Limited partnership interest		100%
Percentage of ownership interest assigned	65%
Consideration for interest assigned | $	$ 0
Fantasia JV | Summit Healthcare REIT, Inc
Organization
Percentage of ownership investment		100%
Cornerstone Realty Advisors, LLC
Organization
Limited partnership interest			0.12%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Restricted Cash (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Summary of Significant Accounting Policies
Cash and cash equivalents	$ 10,997,000	$ 11,572,000
Restricted cash	3,186,000	2,591,000
Total cash, cash equivalents, and restricted cash shown on the consolidated statements of cash flows	$ 14,183,000	$ 14,163,000	$ 13,161,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Additional information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Summary of Significant Accounting Policies
Impairments	$ 11,387,000
Impairment of real estate properties	10,300,000
Intangible lease assets	$ 1,100,000
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration]	Impairments
Impairment loss	$ 500,000	$ 400,000
Fair value of loans payable	36,400,000	38,900,000
Principal balance excluding debt discount	182,611,000	183,765,000
General and administrative expenses	700,000
Impairment loss of related to equity-method investments	500,000	400,000
Deferred tax assets valuation allowance	1,142,000	683,000
Net change in the valuation allowance	457,000
Principal amount of loan	$ 43,900,000	$ 45,000,000
Market approach
Summary of Significant Accounting Policies
Percentage of impairment properties on estimated yield	10.80%
Federal
Summary of Significant Accounting Policies
Carryforwards for income tax	$ 4,200,000
Federal net operating loss carryforward	2,400,000
State
Summary of Significant Accounting Policies
Carryforwards for income tax	$ 4,400,000
Real Estate Investment Trust
Summary of Significant Accounting Policies
Percentage of taxable income	90%
Minimum | Buildings and improvements
Summary of Significant Accounting Policies
Estimated useful life	15 years
Minimum | Furniture and Fixture
Summary of Significant Accounting Policies
Estimated useful life	3 years
Maximum | Buildings and improvements
Summary of Significant Accounting Policies
Estimated useful life	39 years
Maximum | Furniture and Fixture
Summary of Significant Accounting Policies
Estimated useful life	6 years

Investments in Real Estate Pr_3

Investments in Real Estate Properties - Investments in real estate properties (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Investments in Real Estate Properties
Real estate properties, net	$ 156,966,000	$ 173,127,000
Land
Investments in Real Estate Properties
Real estate properties, net	14,905,000	15,565,000
Buildings and improvements
Investments in Real Estate Properties
Real estate properties, gross	157,875,000	166,989,000
Less: accumulated depreciation	(20,439,000)	(15,985,000)
Real estate properties, net	137,436,000	151,004,000
Furniture and fixtures
Investments in Real Estate Properties
Real estate properties, gross	12,106,000	12,440,000
Less: accumulated depreciation	(7,481,000)	(5,882,000)
Real estate properties, net	$ 4,625,000	$ 6,558,000

Investments in Real Estate Pr_4

Investments in Real Estate Properties - Summary information regarding portfolio (Details)	12 Months Ended
	Dec. 31, 2023 USD ($)
Investments in Real Estate Properties
Purchase Price	$ 207,320,000
Loans Payable, Excluding Debt Issuance Costs	$ 169,861,000
Sheridan Care Center
Investments in Real Estate Properties
Location	Sheridan, OR
Date Purchased	Aug. 03, 2012
Type	SNF
Purchase Price	$ 4,100,000
Loans Payable, Excluding Debt Issuance Costs	$ 3,829,000
Fernhill Care Center
Investments in Real Estate Properties
Location	Portland, OR
Date Purchased	Aug. 03, 2012
Type	SNF
Purchase Price	$ 4,500,000
Loans Payable, Excluding Debt Issuance Costs	$ 3,359,000
Friendship Haven Healthcare and Rehabilitation Center
Investments in Real Estate Properties
Location	Galveston County, TX
Date Purchased	Sep. 14, 2012
Type	SNF
Purchase Price	$ 15,000,000
Loans Payable, Excluding Debt Issuance Costs	$ 11,109,000
Pacific Health and Rehabilitation Center
Investments in Real Estate Properties
Location	Tigard, OR
Date Purchased	Dec. 24, 2012
Type	SNF
Purchase Price	$ 8,140,000
Loans Payable, Excluding Debt Issuance Costs	$ 5,600,000
Brookstone of Aledo
Investments in Real Estate Properties
Location	Aledo, IL
Date Purchased	Jul. 02, 2013
Type	AL
Purchase Price	$ 8,625,000
Loans Payable, Excluding Debt Issuance Costs	$ 6,461,000
Sundial Assisted Living
Investments in Real Estate Properties
Location	Redding, CA
Date Purchased	Dec. 18, 2013
Type	AL
Purchase Price	$ 3,500,000
Loans Payable, Excluding Debt Issuance Costs	$ 3,626,000
Pennington Gardens
Investments in Real Estate Properties
Location	Chandler, AZ
Date Purchased	Jul. 17, 2017
Type	AL/MC
Purchase Price	$ 13,400,000
Loans Payable, Excluding Debt Issuance Costs	$ 9,877,000
Yucaipa Hill Post Acute
Investments in Real Estate Properties
Location	Yucaipa, CA
Date Purchased	Jul. 02, 2021
Type	SNF
Purchase Price	$ 10,715,000
Loans Payable, Excluding Debt Issuance Costs	$ 8,014,000
Creekside Post Acute
Investments in Real Estate Properties
Location	Yucaipa, CA
Date Purchased	Jul. 02, 2021
Type	SNF
Purchase Price	$ 4,780,000
Loans Payable, Excluding Debt Issuance Costs	$ 3,575,000
University Post Acute
Investments in Real Estate Properties
Location	Mentone, CA
Date Purchased	Jul. 02, 2021
Type	SNF
Purchase Price	$ 4,560,000
Loans Payable, Excluding Debt Issuance Costs	$ 3,411,000
Calhoun Health Center
Investments in Real Estate Properties
Location	Calhoun, GA
Date Purchased	Dec. 30, 2021
Type	SNF
Purchase Price	$ 7,670,000
Loans Payable, Excluding Debt Issuance Costs	$ 6,549,000
Maple Ridge Health Care Center
Investments in Real Estate Properties
Location	Cartersville, GA
Date Purchased	Dec. 30, 2021
Type	SNF
Purchase Price	$ 13,548,000
Loans Payable, Excluding Debt Issuance Costs	$ 11,568,000
Chatsworth Health Care Center
Investments in Real Estate Properties
Location	Chatsworth, GA
Date Purchased	Dec. 30, 2021
Type	SNF
Purchase Price	$ 29,785,000
Loans Payable, Excluding Debt Issuance Costs	$ 25,432,000
East Lake Arbor
Investments in Real Estate Properties
Location	Decatur, GA
Date Purchased	Dec. 30, 2021
Type	SNF
Purchase Price	$ 15,640,000
Loans Payable, Excluding Debt Issuance Costs	$ 13,354,000
Fairburn Health Care Center
Investments in Real Estate Properties
Location	Fairburn, GA
Date Purchased	Dec. 30, 2021
Type	SNF
Purchase Price	$ 14,644,000
Loans Payable, Excluding Debt Issuance Costs	$ 12,503,000
Grandview Health Care Center
Investments in Real Estate Properties
Location	Jasper, GA
Date Purchased	Dec. 30, 2021
Type	SNF
Purchase Price	$ 10,061,000
Loans Payable, Excluding Debt Issuance Costs	$ 8,591,000
Rosemont at Stone Mountain
Investments in Real Estate Properties
Location	Stone Mountain, GA
Date Purchased	Dec. 30, 2021
Type	SNF
Purchase Price	$ 23,908,000
Loans Payable, Excluding Debt Issuance Costs	$ 20,414,000
Willowwood Nursing Center & Rehab
Investments in Real Estate Properties
Location	Flowery Branch, GA
Date Purchased	Dec. 30, 2021
Type	SNF
Purchase Price	$ 14,744,000
Loans Payable, Excluding Debt Issuance Costs	$ 12,589,000

Investments in Real Estate Pr_5

Investments in Real Estate Properties - Future Minimum Lease Payments (Details)	Dec. 31, 2023 USD ($)
Investments in Real Estate Properties
2024	$ 18,272,000
2025	18,566,000
2026	18,865,000
2027	19,168,000
2028	17,909,000
Thereafter	137,999,000
Future minimum lease payments	$ 230,779,000

Investments in Real Estate Pr_6

Investments in Real Estate Properties - Additional information (Details)			1 Months Ended			3 Months Ended	12 Months Ended
	Sep. 29, 2023 USD ($)	Jul. 03, 2023 USD ($)	Sep. 30, 2023 USD ($) item property	Jul. 31, 2023 USD ($)	Feb. 28, 2022 USD ($)	Dec. 31, 2023 USD ($) property	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($) property
Investments in Real Estate Properties
Number of properties owned by our unconsolidated Equity-Method Investments | property						31	31
Depreciation							$ 6,100,000	$ 6,300,000
Number of real estate properties | property						18	18
Number of real estate properties leased to related facilities | property						16	16	16
Number of real estate properties leased to affiliated subsidiary | property						2	2
Impairment of real estate properties							$ 10,300,000
Percentage of real estate properties							100%
Principal amount of loan						$ 43,900,000	$ 43,900,000	$ 45,000,000
Loans payable						36,400,000	36,400,000	$ 38,900,000
Proceeds from sale of real estate							3,839,000
Number of wholly-owned properties replaced tenant/ operator | property			3
Amount of write off of rent receivable			$ 1,300,000
Amount of write off of leasing commissions			300,000
Write-Off Of rent receivable						$ 2,400,000	255,000
Amount of write off of income from security deposits			$ 400,000
Term of contract (in years)			10 years
Number of renewal options | item			2
Renewal term (in years)			5 years
Impairments							$ 11,387,000
No Of Aquisition							0	0
Summit Healthcare REIT, Inc
Investments in Real Estate Properties
Equity method investment, ownership percentage						100%	100%
Fantasia JV
Investments in Real Estate Properties
Percentage of ownership interest assigned		65%
Consideration for interest assigned		$ 0
Cash				$ 800,000
Real Estate				3,800,000
Other assets				100,000
Loans payable				3,200,000
Other liabilities				400,000
Gain on consolidation				$ 1,100,000
Fantasia JV | Summit Healthcare REIT, Inc
Investments in Real Estate Properties
Equity method investment, ownership percentage				100%
Pennington Gardens facility in Chandler, Arizona
Investments in Real Estate Properties
Lease termination revenues received					$ 200,000
Summit Georgia Holdings LLC
Investments in Real Estate Properties
Number of properties owned by our unconsolidated equity-method investments | property						31	31
Principal amount of loan						$ 12,750,000	$ 12,750,000
Summit Citrus Heights | Fantasia JV
Investments in Real Estate Properties
Proceeds from sale of real estate	$ 600,000
Loans held for sale price	3,800,000
Payoff of the loan payable	3,200,000
Loss on sale of real estate	$ 10,000

Loans Payable - Debt (Details)

Loans Payable - Debt (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Loans Payable
Total debt obligations	$ 182,611,000	$ 183,765,000
Less debt issuance costs	(2,682,000)	(3,596,000)
Total loans payable	179,929,000	180,169,000
Interest Expense, Debt	0	600,000
Loans payable to Lument (formerly ORIX Real Estate Capital, LLC) due in September 2039 through April 2055
Loans Payable
Total debt obligations	33,984,000	34,976,000
Loans payable to Capital One Multifamily Finance, LLC due in September 2053
Loans Payable
Total debt obligations	9,877,000	10,039,000
Loans payable to CIBC Bank, USA due in July 2024
Loans Payable
Total debt obligations	15,000,000	15,000,000
Loans payable to CIBC Bank, USA due in December 2024
Loans Payable
Total debt obligations	91,000,000	91,000,000
Loans payable to Oxford Finance, LLC due in March 2025
Loans Payable
Total debt obligations	20,000,000	20,000,000
Loans payable to Oxford Finance, LLC due in December 2026
Loans Payable
Total debt obligations	$ 12,750,000	$ 12,750,000

Loans Payable - (Parenthetical)

Loans Payable - (Parenthetical) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Loans payable to Lument (formerly ORIX Real Estate Capital, LLC) due in September 2039 through April 2055
Loans Payable
Monthly installments	$ 183,000	$ 183,000
Loans payable to Lument (formerly ORIX Real Estate Capital, LLC) due in September 2039 through April 2055 | Minimum
Loans Payable
Fixed rate of interest (in percent)	2.79%	2.79%
Loans payable to Lument (formerly ORIX Real Estate Capital, LLC) due in September 2039 through April 2055 | Maximum
Loans Payable
Fixed rate of interest (in percent)	4.20%	4.20%
Loans payable to Capital One Multifamily Finance, LLC due in September 2053
Loans Payable
Monthly installments	$ 49,000
Fixed rate of interest (in percent)	4.23%
Loans payable to CIBC Bank, USA due in July 2024
Loans Payable
Monthly installments	$ 106,000
Variable interest rate (in percent)	9.45%	8.17%
Loans payable to CIBC Bank, USA due in December 2024
Loans Payable
Monthly installments	$ 680,000
Variable interest rate (in percent)	8.85%	7.68%
Loans payable to Oxford Finance, LLC due in March 2025
Loans Payable
Monthly installments	$ 280,000
Variable interest rate (in percent)	16.40%	15.10%
Loans payable to Oxford Finance, LLC due in December 2026
Loans Payable
Variable interest rate (in percent)	16.40%	15.10%
Periodic payment	$ 168,000

Loans Payable - Maturities of l

Loans Payable - Maturities of long term debt (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Loans Payable
2024	$ 139,951,000
2025	1,246,000
2026	1,292,000
2027	1,341,000
2028	1,391,000
Thereafter	37,390,000
Total	182,611,000
Total debt obligations	182,611,000	$ 183,765,000
Summit Georgia Holdings LLC | GA8 Properties
Loans Payable
2024	12,750,000
Oxford Finance | Subordinated debt
Loans Payable
2024	$ 20,000,000

Loans Payable - Additional info

Loans Payable - Additional information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Nov. 30, 2023	Oct. 31, 2023	Jun. 30, 2023	Dec. 31, 2021
Loans Payable
Total debt obligations	$ 182,611,000	$ 183,765,000
Interest expense (excluding debt issuance costs, amortization and interest expense related to the Oxford mezzanine loan)	16,600,000	12,000,000
Interest Expense, Debt	0	600,000
Unamortized balance of the debt issuance costs	2,682,000	3,596,000
Amortization of debt issuance costs	900,000	900,000
Aggregate amount	43,900,000	45,000,000
Master Letter of Credit Agreement
Loans Payable
Amount outstanding	200,000				$ 1,000,000
GA8 Properties | Summit Georgia Holdings LLC
Loans Payable
Aggregate amount						$ 12,750,000
First priority mortgage loan | GA8 Properties
Loans Payable
Aggregate amount						91,000,000
Second priority mortgage loan | GA8 Properties
Loans Payable
Aggregate amount						$ 20,000,000
Loans payable to Oxford Finance, LLC due in December 2026
Loans Payable
Total debt obligations	12,750,000	$ 12,750,000
Interest Payable, Current	$ 600,000		$ 600,000	$ 600,000

Equity-Method Investments - Sum

Equity-Method Investments - Summarized Financial Data for Equity-Method Investments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Equity-Method Investments
Revenue	$ 25,449,000	$ 26,294,000
Net Income (Loss)	(24,801,000)	(8,693,000)
Straight-line rent receivables	1,396,000	3,862,000
Loss from equity-method investees	(754,000)	(2,898,000)
Equity-method investments	$ 2,852,000	$ 5,182,000

Equity-Method Investments - Dis

Equity-Method Investments - Distributions receivable (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Equity-Method Investments
Distributions receivable	$ 492,000	$ 400,000
Fantasia II JV
Equity-Method Investments
Distributions receivable	30,000	55,000
Fantasia III JV
Equity-Method Investments
Distributions receivable	87,000	22,000
FPH JV
Equity-Method Investments
Distributions receivable	64,000	64,000
SULH JV
Equity-Method Investments
Distributions receivable	$ 311,000	$ 259,000

Equity-Method Investments - Cas

Equity-Method Investments - Cash Distributions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Equity-Method Investments
Total Cash Distributions Received	$ 1,853,000	$ 1,116,000
Cash Flow from Operating Activities	760,000	347,000
Cash Flow from Investing Activities	1,093,000	769,000
SUL JV
Equity-Method Investments
Total Cash Distributions Received	1,706,000	615,000
Cash Flow from Operating Activities	760,000
Cash Flow from Investing Activities	946,000	615,000
Fantasia JV
Equity-Method Investments
Total Cash Distributions Received	0
Cash Flow from Operating Activities	0
Cash Flow from Investing Activities	0
Fantasia II JV
Equity-Method Investments
Total Cash Distributions Received	135,000	311,000
Cash Flow from Operating Activities	0	213,000
Cash Flow from Investing Activities	135,000	98,000
Fantasia III JV
Equity-Method Investments
Total Cash Distributions Received	12,000	134,000
Cash Flow from Operating Activities	0	134,000
Cash Flow from Investing Activities	12,000
FPH JV
Equity-Method Investments
Total Cash Distributions Received	0	56,000
Cash Flow from Operating Activities	0	0
Cash Flow from Investing Activities	$ 0	$ 56,000

Equity-Method Investments - Add

Equity-Method Investments - Additional information (Details)	1 Months Ended			12 Months Ended
	Dec. 31, 2023 USD ($) property	Sep. 30, 2023 USD ($) property	Dec. 31, 2022 USD ($)	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($)	Jul. 03, 2023
Equity-Method Investments
Equity-method investment	$ 2,852,000		$ 5,182,000	$ 2,852,000	$ 5,182,000
Loss from equity-method investees				754,000	2,898,000
Impairment loss of related to equity-method investments				500,000	400,000
Additional losses				$ 100,000
SUL JV
Equity-Method Investments
Gain on sale of properties	$ 7,000,000
SUL JV
Equity-Method Investments
Minimum percentage of interest in annual return				9%
Percentage of interest in annual return				10%
Invested to capital calls				$ 370,000	$ 821,000
SUL JV
Equity-Method Investments
Percentage of ownership investment	10%			10%
Loss from equity-method investees	$ 700,000
Return of capital from the sale				$ 1,100,000
Fantasia JV
Equity-Method Investments
Percentage of ownership investment			35%		35%
Summit Union Life Holdings, LLC
Equity-Method Investments
Percentage of ownership investment	10%		10%	10%	10%
Summit Fantasia Holdings Llc | Summit Healthcare Operating Partnership, L.P
Equity-Method Investments
Percentage of ownership investment						65%
Summit Fantasia Holdings II, LLC
Equity-Method Investments
Percentage of ownership investment		20%
Loss from equity-method investees		$ 300,000
Impairment loss of related to equity-method investments				$ 500,000
Summit Fantasia Holdings III, LLC
Equity-Method Investments
Equity-method investment	$ 1,200,000		$ 1,600,000	$ 1,200,000	$ 1,600,000
Percentage of ownership investment	10%			10%
Loss from equity-method investees				$ 400,000
Summit Fantasia Holdings II, LLC
Equity-Method Investments
Equity-method investment	$ (100,000)		1,200,000	(100,000)	1,200,000
Summit Union Life Holdings, LLC
Equity-Method Investments
Equity-method investment	$ 1,800,000		2,400,000	1,800,000	2,400,000
Impairment charge				$ 1,100,000	6,800,000
Number of properties impaired | property				1
Impairment loss of related to equity-method investments				$ 100,000	700,000
Summit Union Life Holdings, LLC | Minimum
Equity-Method Investments
Percentage of interest in annual return				9%
Summit Union Life Holdings, LLC | Maximum
Equity-Method Investments
Percentage of interest in annual return				10%
Summit Union Life Holdings, LLC | SUL JV
Equity-Method Investments
Number of properties sold | property	2			2
Summit Union Life Holdings, LLC | Best Years Llc
Equity-Method Investments
Percentage of interest in capital proceeds from the sale of properties held				75%
Summit Union Life Holdings, LLC | Operating Partnership
Equity-Method Investments
Percentage of interest				25%
Percentage of interest in capital proceeds from the sale of properties held				25%
Summit Union Life Holdings, LLC | Best Years Llc
Equity-Method Investments
Percentage of interest				75%
Summit Fantasia Holdings Llc
Equity-Method Investments
Impairment charge		$ 1,600,000
Number of properties impaired | property		2
Summit Fantasia Holdings II, LLC
Equity-Method Investments
Percentage of interest in annual return				8%
Summit Fantasia Holdings II, LLC | Operating Partnership
Equity-Method Investments
Percentage of interest				30%
Percentage of interest in capital proceeds from the sale of properties held				30%
Summit Fantasia Holdings II, LLC | Fantasia Investment III LLC
Equity-Method Investments
Percentage of interest				70%
Percentage of interest in capital proceeds from the sale of properties held				70%
Summit Fantasia Holdings III, LLC
Equity-Method Investments
Percentage of interest in annual return				9%
Loss on transaction				$ 3,900,000
Summit Fantasia Holdings III, LLC | Operating Partnership
Equity-Method Investments
Percentage of interest				25%
Percentage of interest in capital proceeds from the sale of properties held				25%
Summit Fantasia Holdings III, LLC | Fantasia Investment III LLC
Equity-Method Investments
Percentage of interest				75%
Percentage of interest in capital proceeds from the sale of properties held				75%
Summit Fantasy Pearl Holdings, LLC
Equity-Method Investments
Equity-method investment	$ 0		0	$ 0	0
Percentage of interest in annual return				9%
Impairment charge			200,000
Summit Fantasy Pearl Holdings, LLC | Operating Partnership
Equity-Method Investments
Percentage of interest				20%
Percentage of interest in capital proceeds from the sale of properties held				20%
Summit Fantasy Pearl Holdings, LLC | Fantasia Investment III LLC
Equity-Method Investments
Percentage of interest				7.25%
Percentage of interest in capital proceeds from the sale of properties held				7.25%
Summit Fantasy Pearl Holdings, LLC | Summit Fantasy Pearl Holdings, LLC- Equity-Method Investment
Equity-Method Investments
Percentage of interest				65.25%
Percentage of interest in capital proceeds from the sale of properties held				65.25%
Summit Fantasy Pearl Holdings, LLC | Atlantis
Equity-Method Investments
Percentage of interest				7.50%
Percentage of interest in capital proceeds from the sale of properties held				7.50%
Fantasia JV
Equity-Method Investments
Equity-method investment	$ 0			$ 0
Invested to capital calls				$ 290,000
Impairment charge					2,200,000
Impairment loss of related to equity-method investments					6,400,000
Fair Value of distributions receivable			$ 200,000		200,000
Aggregate impairment loss fair value on equity method investment					$ 200,000

Receivables (Details)

Receivables (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Receivables
Straight-line rent receivables	$ 1,396,000	$ 3,862,000
Distribution receivables from Equity-Method Investments	492,000	400,000
Asset management fees	327,000	375,000
Other receivables	375,000	383,000
Total	$ 2,590,000	$ 5,020,000

Intangible Lease Assets (Detail

Intangible Lease Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Intangible Lease Assets
Total intangible lease assets, net	$ 11,653,000	$ 13,704,000
Amortization expense for intangible lease assets	1,000,000
Amortization of above market leases		100,000
In-place leases
Intangible Lease Assets
Intangible lease assets, gross	12,680,000	13,778,000
Less: accumulated amortization	(1,831,000)	(937,000)
Total intangible lease assets, net	10,849,000	12,841,000
Above-market leases
Intangible Lease Assets
Intangible lease assets, gross	959,000	959,000
Less: accumulated amortization	(155,000)	(96,000)
Total intangible lease assets, net	$ 804,000	$ 863,000

Intangible Lease Assets - Expec

Intangible Lease Assets - Expected future amortization (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Intangible Lease Assets
2024	$ 900,000
2025	900,000
2026	900,000
2027	900,000
2028	900,000
Thereafter	7,153,000
Total intangible lease assets, net	$ 11,653,000	$ 13,704,000

Right of Use Asset - Operatin_3

Right of Use Asset - Operating Lease (Details)	1 Months Ended
	Nov. 30, 2022 USD ($)
Right of Use (ROU) Asset - Operating
Estimated incremental borrowing rate	5%
Temporary License
Right of Use (ROU) Asset - Operating
Termination term of lease after substantial completion of certain tenant improvements in office space	5 years
Standard Office Lease
Right of Use (ROU) Asset - Operating
Lease term under three separate triple net leases	66 years
Initial annual base rent	$ 204,399
Increase in initial annual base rent (as a percent)	3%

Right of Use Asset - Operatin_4

Right of Use Asset - Operating Lease - Supplemental balance sheet information related to the Office Lease (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Nov. 30, 2022
Right of Use Asset - Operating Lease
Right of use asset - operating	$ 698,000		$ 900,000
Right of use asset - operating, Location	Other Assets		Other Assets
Lease liability - operating	$ 877,000		$ 900,000
Lease liability, location	Accounts Payable and Accrued Liabilities		Accounts Payable and Accrued Liabilities
Operating lease expense	$ 182,000	$ 87,000
Operating lease payments	$ 103,000	$ 26,000
Weighted average remaining lease term	4 years 3 months 18 days

Right of Use Asset - Operatin_5

Right of Use Asset - Operating Lease - Lease payments (Details) - USD ($)	Dec. 31, 2023	Nov. 30, 2022
Maturity of lease payments
2024	$ 211,000
2025	217,000
2026	224,000
2027	231,000
Lessee, Operating Lease, Liability, to be Paid, Year Five	98,000
Total lease payments	981,000
Less imputed interest	(104,000)
Total lease liability	$ 877,000	$ 900,000

Concentration of Risk (Details)

Concentration of Risk (Details)	12 Months Ended
	Dec. 31, 2023 property tenant	Dec. 31, 2022 tenant property
Concentration of Risk
Number of owned properties held by equity method investment	31
Number of real estate properties leased to related facilities	16	16
Number of tenants under long-term triple net leases | tenant	14	14
Number of tenants represents more than 10% of our rental revenue | tenant	3	3
Customer concentration risk | Tenant | Assets, Total
Concentration of Risk
Concentration risk, percentage	20%
Customer concentration risk | Tenant One | Tenant One, Concentration Risk
Concentration of Risk
Concentration risk, percentage	10%	10%
Customer concentration risk | Tenant Two | Tenant Two Concentration Risk
Concentration of Risk
Concentration risk, percentage	17%	16%
Customer concentration risk | Tenant Three | Tenant Three Concentration Risk
Concentration of Risk
Concentration risk, percentage	14%	14%
Customer concentration risk | Tenant Four | Tenant Four Concentration Risk
Concentration of Risk
Concentration risk, percentage	10%	10%
Georgia
Concentration of Risk
Number of owned properties	8
California
Concentration of Risk
Number of owned properties	4
Oregon
Concentration of Risk
Number of owned properties	3
Texas
Concentration of Risk
Number of owned properties	1
Illinois
Concentration of Risk
Number of owned properties	1
Arizona
Concentration of Risk
Number of owned properties	1

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)						12 Months Ended
	Nov. 14, 2023	Nov. 13, 2023	Jul. 14, 2023	May 15, 2023	May 12, 2023	Dec. 31, 2023
Commitments and Contingencies
Purchased the investors' interests						$ 900,000
Accrued contingencies						0
Cure period of Kent Eikanas			60 days	60 days
Legal fees
Commitments and Contingencies
Amount awarded to the plaintiffs					$ 75,000	75,000
Attorney's fees
Commitments and Contingencies
Amount awarded to the plaintiffs	$ 665,000	$ 517,000			$ 517,000	665,000
Accrued contingencies						$ 0

Equity - Black-Scholes option-p

Equity - Black-Scholes option-pricing model (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Equity
Stock options granted	80,000	81,000
Expected volatility	37.34%
Expected term	5 years 9 months
Risk-free interest rate	3.65%
Dividend yield	0%
Fair value per share	$ 0.91

Equity - Stock options (Details

Equity - Stock options (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Equity
Options outstanding, Beginning Balance	1,948,908	1,867,908
Options outstanding, Granted	80,000	81,000
Options outstanding, Exercised	0
Options outstanding, Cancelled/forfeited	880,845
Options outstanding, Ending Balance	1,148,063	1,948,908
Options exercisable, Ending Balance	1,049,840
Weighted Average Exercise Price, Outstanding at Beginning Balance	$ 2.10	$ 2.09
Weighted Average Exercise Price, Granted	2.18	2.35
Weighted Average Exercise Price, Cancelled/forfeited	2.02
Weighted Average Exercise Price, Outstanding at Ending Balance	2.16	$ 2.10
Weighted Average Exercise Price, Exercisable at Ending Balance	$ 2.15
Options outstanding, Weighted Average Remaining Contractual Term	4 years 9 months 14 days
Options exercisable, Weighted Average Remaining Contractual Term	4 years 4 months 28 days

Equity - Unrecognized stock-bas

Equity - Unrecognized stock-based compensation expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Equity
Unrecognized stock-based compensation expense related to unvested stock options, net of forfeitures	$ 89,000
General and administrative expense
Equity
Stock-based compensation expense	41,000	$ 31,000
2024
Equity
Unrecognized stock-based compensation expense related to unvested stock options, net of forfeitures	49,000
2025
Equity
Unrecognized stock-based compensation expense related to unvested stock options, net of forfeitures	32,000
2026
Equity
Unrecognized stock-based compensation expense related to unvested stock options, net of forfeitures	$ 8,000

Equity - Additional Information

Equity - Additional Information (Details) - $ / shares		1 Months Ended	12 Months Ended
	Apr. 01, 2023	Oct. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Equity
Stock options granted			80,000	81,000
Weighted average grant date fair value (per share)			$ 0.91
Distribution Made to Limited Partner, Distributions Declared, Per Unit			$ 0	$ 0
Omnibus Incentive Plan
Equity
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant			3,000,000
Common Stock, Capital Shares Reserved for Future Issuance			1,851,937
Number of shares vested forfeited due to the termination of an employee.		880,845
Omnibus Incentive Plan | Non-executive employee
Equity
Stock options granted	80,000
Vesting period	3 years
Expiration period	10 years

Segment Reporting (Details)

Segment Reporting (Details) - segment	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting
Number of reportable segments	1	1

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)		12 Months Ended
	Mar. 13, 2024	Dec. 31, 2023	Dec. 31, 2022	Feb. 29, 2024
Subsequent Events
Real estate properties, net (Note 14)		$ 156,966,000	$ 173,127,000
Intangible lease assets, net		11,653,000	13,704,000
Loans payable		179,929,000	180,169,000
Total rental revenues		18,072,000	21,957,000
Property operating costs		3,773,000	3,139,000
Depreciation and amortization		7,318,000	7,311,000
Interest expense		$ 17,521,000	$ 13,534,000
Subsequent events | GA8 Properties | Summit Georgia Holdings LLC
Subsequent Events
Real estate properties, net (Note 14)	$ 98,400,000
Intangible lease assets, net	10,400,000
Loans payable	122,800,000
Total rental revenues	11,800,000
Property operating costs	1,300,000
Depreciation and amortization	5,100,000
Interest expense	$ 13,200,000
Subsequent events | CA3 Properties | Discontinued Operations, Held-for-Sale
Subsequent Events
Aggregate purchase price				$ 30,000,000

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (24,801,000)	$ (8,693,000)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false