Sentio Healthcare Properties 10-K 17 Mar 17 2016 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Mar. 17, 2017	Jun. 30, 2016
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Entity Registrant Name	Sentio Healthcare Properties Inc
Entity Central Index Key	1,378,774
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		11,538,992

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)		Dec. 31, 2016	Dec. 31, 2015
ASSETS
Cash and cash equivalents		$ 34,921,000	$ 22,801,000
Investments in real estate:
Land		48,146,000	47,196,000
Buildings and improvements, net		395,500,000	397,234,000
Furniture, fixtures and vehicles, net		12,592,000	12,660,000
Construction in progress		13,933,000	5,168,000
Intangible lease assets, net		4,833,000	6,731,000
Total investment in real estate		475,004,000	468,989,000
Real estate note receivable		34,181,000	15,427,000
Investment in unconsolidated entities		493,000	880,000
Tenant and other receivables, net		5,949,000	5,751,000
Deferred costs and other assets		9,973,000	8,636,000
Restricted cash		7,777,000	6,748,000
Goodwill		5,965,000	5,965,000
Total assets		574,263,000	535,197,000
Liabilities:
Notes payable, net	[1]	366,097,000	335,288,000
Accounts payable and accrued liabilities		15,783,000	22,575,000
Prepaid rent and security deposits		5,204,000	5,368,000
Distributions payable		1,449,000	1,450,000
Total liabilities		388,533,000	364,681,000
Equity:
Preferred Stock Series C, $0.01 par value; 1,000 shares authorized; 1,000 and 1,000 shares issued and outstanding at December 31, 2016 and December 31, 2015, respectively.		0	0
Common stock, $0.01 par value; 580,000,000 shares authorized; 11,531,615 and 11,502,617 shares issued and outstanding at December 31, 2016 and December 31, 2015, respectively		115,000	115,000
Additional paid-in capital		55,979,000	61,385,000
Accumulated deficit		(25,782,000)	(27,612,000)
Total stockholders' equity		30,312,000	33,888,000
Noncontrolling interests:
Series B convertible preferred OP units		151,080,000	132,164,000
Other noncontrolling interest		4,338,000	4,464,000
Total equity		185,730,000	170,516,000
Total liabilities and equity		$ 574,263,000	$ 535,197,000
[1]	As of December 31, 2016 and 2015, all notes payable are secured by the underlying real estate.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2016	Dec. 31, 2015
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	580,000,000	580,000,000
Common stock, shares issued	11,531,615	11,502,617
Common stock, shares outstanding	11,531,615	11,502,617
Preferred Stock, Par value	$ 0.01
Preferred stock, shares authorized	20,000,000
Series C Preferred Stock [Member]
Preferred Stock, Par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	1,000	1,000
Preferred Stock, Shares Issued	1,000	1,000
Preferred Stock, Shares Outstanding	1,000	1,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015		Dec. 31, 2014
Revenues:
Rental revenues	$ 91,339,000	$ 80,094,000		$ 49,922,000
Resident fees and services	32,971,000	31,416,000		28,845,000
Tenant reimbursements and other income	5,726,000	3,785,000		2,798,000
Total revenues	130,036,000	115,295,000		81,565,000
Expenses:
Property operating and maintenance	83,001,000	74,301,000		50,841,000
General and administrative	2,081,000	2,430,000		1,710,000
Asset management fees	3,200,000	5,346,000		4,135,000
Real estate acquisition costs	0	1,466,000		2,724,000
Depreciation and amortization	16,509,000	19,803,000		11,793,000
Total expenses	104,791,000	103,346,000		71,203,000
Income from operations	25,245,000	11,949,000		10,362,000
Other (income) expense:
Interest expense, net	15,905,000	13,777,000		9,912,000
Change in fair value of contingent consideration	(3,138,000)	689,000		0
Equity in loss from unconsolidated entities	163,000	362,000	[1],[2]	352,000	[1],[2]
Loss on debt extinguishment	378,000	0		0
Net income (loss) before income taxes	11,937,000	(2,879,000)		98,000
Income tax benefit	(1,585,000)	(3,128,000)		(389,000)
Net income	13,522,000	249,000		487,000
Preferred return to series B preferred OP units	10,972,000	8,827,000		2,567,000
Net income attributable to other noncontrolling interests	720,000	320,000		586,000
Net income (loss) attributable to common stockholders	$ 1,830,000	$ (8,898,000)		$ (2,666,000)
Basic and diluted weighted average number of common shares	11,515,378	11,485,967		12,242,324
Basic and diluted net income (loss) per common share attributable to common stockholders	$ 0.16	$ (0.77)		$ (0.22)
[1]	As of December 31, 2014, the Company’s initial investment of $3.5 million in The Parkway was accounted for as an equity method investment. As of June 30, 2015, the Company began consolidating The Parkway and as a result, it is no longer accounted for under the equity method of accounting. See Note 4.
[2]	On January 28, 2014, through a wholly-owned subsidiary, we acquired a 25% interest in a joint venture entity that has developed Buffalo Crossings, a 108-unit, assisted living community and began operations in May 2015. Buffalo Crossings was accounted for under the entity method of accounting beginning with the first quarter of 2014.

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($)	Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total Stockholders' Equity	Noncontrolling Interest
BALANCE at Dec. 31, 2013	$ 86,245,000	$ 0	$ 126,000	$ 83,346,000	$ (16,048,000)	$ 67,424,000	$ 18,821,000
BALANCE (in shares) at Dec. 31, 2013		1,000	12,608,534
Issuance of Common Stock	308,000	$ 0	$ 0	308,000	0	308,000	0
Issuance of Common Stock (in shares)		0	27,407
Issuance of Series B Preferred OP Units, net	75,015,000	$ 0	$ 0	0	0	0	75,015,000
Redeemed Shares	$ (10,599,000)	$ 0	$ (11,000)	(10,588,000)	0	(10,599,000)	0
Redeemed Shares (in shares)	(49,962)	0	(1,163,176)
Offering Costs	$ (289,000)	$ 0	$ 0	(289,000)	0	(289,000)	0
Noncontrolling Interest Contribution	293,000	0	0	0	0	0	293,000
Distributions	(8,755,000)	0	0	(5,985,000)	0	(5,985,000)	(2,770,000)
Net income	487,000	0	0	0	(2,666,000)	(2,666,000)	3,153,000
BALANCE at Dec. 31, 2014	142,705,000	$ 0	$ 115,000	66,792,000	(18,714,000)	48,193,000	94,512,000
BALANCE (in shares) at Dec. 31, 2014		1,000	11,472,765
Issuance of Common Stock	347,000	$ 0	$ 0	347,000	0	347,000	0
Issuance of Common Stock (in shares)		0	29,852
Issuance of Series B Preferred OP Units, net	$ 42,050,000	$ 0	$ 0	0	0	0	42,050,000
Redeemed Shares (in shares)	0
Offering Costs	$ (9,000)	0	0	(9,000)	0	(9,000)	0
Noncontrolling Interest Contribution	1,498,000	0	0	0	0	0	1,498,000
Distributions	(16,324,000)	0	0	(5,745,000)	0	(5,745,000)	(10,579,000)
Net income	249,000	0	0	0	(8,898,000)	(8,898,000)	9,147,000
BALANCE at Dec. 31, 2015	170,516,000	$ 0	$ 115,000	61,385,000	(27,612,000)	33,888,000	136,628,000
BALANCE (in shares) at Dec. 31, 2015		1,000	11,502,617
Issuance of Common Stock	354,000	$ 0	$ 0	354,000	0	354,000	0
Issuance of Common Stock (in shares)		0	28,998
Issuance of Series B Preferred OP Units, net	$ 18,914,000	$ 0	$ 0	0	0	0	18,914,000
Redeemed Shares (in shares)	0
Distributions	$ (17,576,000)	0	0	(5,760,000)	0	(5,760,000)	(11,816,000)
Net income	13,522,000	0	0	0	1,830,000	1,830,000	11,692,000
BALANCE at Dec. 31, 2016	$ 185,730,000	$ 0	$ 115,000	$ 55,979,000	$ (25,782,000)	$ 30,312,000	$ 155,418,000
BALANCE (in shares) at Dec. 31, 2016		1,000	11,531,615

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net income	$ 13,522,000	$ 249,000	$ 487,000
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of deferred financing costs	960,000	905,000	589,000
Depreciation and amortization	16,509,000	19,803,000	11,793,000
Straight-line rent and above/below market lease amortization	(139,000)	(829,000)	(686,000)
Change in fair value of contingent consideration	(3,138,000)	689,000	0
Amortization of loan discount/premium	(58,000)	(60,000)	(63,000)
Equity in loss from unconsolidated entities	387,000	362,000	352,000
Loss on debt extinguishment	378,000	0	0
Bad debt expense	162,000	263,000	276,000
Deferred tax benefit	(1,642,000)	(3,260,000)	(869,000)
Changes in operating assets and liabilities:
Tenant and other receivables	(156,000)	(1,044,000)	(125,000)
Deferred costs and other assets	(779,000)	702,000	(186,000)
Restricted cash	(970,000)	(372,000)	(65,000)
Prepaid rent and tenant security deposits	(164,000)	1,464,000	887,000
Accounts payable and accrued liabilities	(37,000)	(222,000)	807,000
Net cash provided by operating activities	24,835,000	18,650,000	13,197,000
Cash flows from investing activities:
Real estate acquisitions	(10,605,000)	(69,311,000)	(135,018,000)
Additions to real estate	(2,631,000)	(3,099,000)	(1,501,000)
Construction in progress	(8,765,000)	(11,734,000)	0
Real estate note receivable	(18,754,000)	(15,427,000)	0
Purchase of an interest in an unconsolidated entity	0	0	(4,837,000)
Restricted cash	241,000	(454,000)	(501,000)
Distributions from unconsolidated entities	0	209,000	636,000
Acquisition deposits	0	(1,084,000)	(490,000)
Net cash used in investing activities	(40,514,000)	(100,900,000)	(141,711,000)
Cash flows from financing activities:
Proceeds from issuance of series B preferred OP units, net	18,914,000	42,174,000	75,145,000
Redeemed shares	0	0	(10,599,000)
Proceeds from notes payable	144,262,000	47,012,000	104,095,000
Repayment of notes payable	(112,868,000)	(3,138,000)	(15,515,000)
Payment of contingent consideration	(3,421,000)	0	0
Deferred financing costs	(1,865,000)	(552,000)	(1,961,000)
Distributions paid to series B preferred OP units and other noncontrolling interests	(11,816,000)	(10,579,000)	(2,770,000)
Distributions paid to stockholders	(5,407,000)	(5,394,000)	(5,820,000)
Restricted cash	0	(27,000)	0
Offering costs	0	(9,000)	(289,000)
Net cash provided by financing activities	27,799,000	69,487,000	142,286,000
Net increase (decrease) in cash and cash equivalents	12,120,000	(12,763,000)	13,772,000
Cash and cash equivalents - beginning of year	22,801,000	35,564,000	21,792,000
Cash and cash equivalents - end of year	34,921,000	22,801,000	35,564,000
Supplemental disclosure of cash flow information:
Cash paid for interest	14,750,000	12,701,000	9,215,000
Cash paid for income taxes	167,000	154,000	451,000
Supplemental disclosure of non-cash financing and investing activities:
Distributions declared not paid	1,449,000	1,362,000	1,354,000
Distributions reinvested	88,000	4,000	31,000
Note payable assumed in connection with real estate acquisitions	0	18,350,000	6,594,000
Equity contribution by noncontrolling interest	0	1,498,000	293,000
Consolidation of a previously held investment in an unconsolidated entity	0	3,676,000	0
Accrued preferred stock offering costs	0	124,000	130,000
Accrued deferred acquisition costs	0	0	302,000
Accrued additions to real estate	$ 102,000	$ 1,002,000	$ 43,000

Organization

Organization	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation Of Financial Statements [Abstract]
Organization	1. Organization Sentio Healthcare Properties, Inc., a Maryland corporation, was formed on October 16, 2006 under the Maryland General Corporation Law for the purpose of engaging in the business of investing in and owning commercial real estate. As used in this report, the “Company”, “we”, “us” and “our” refer to Sentio Healthcare Properties, Inc. and its consolidated subsidiaries, except where context otherwise requires. Effective January 1, 2012, subject to certain restrictions and limitations, our business is managed by Sentio Investments, LLC, a Florida limited liability company that was formed on December 20, 2011 Sentio Healthcare Properties OP, LP, a Delaware limited partnership (the “Operating Partnership”), was formed on October 17, 2006 100 57.9

Equity Issuances

Equity Issuances	12 Months Ended
	Dec. 31, 2016
Equity Issuances [Abstract]
Equity Issuances	2. Equity Issuances Our charter authorizes the issuance of up to 580,000,000 0.01 20,000,000 0.01 From June 2008 until May 2011, we conducted public offerings of our shares of common stock. Our initial public offering terminated on February 3, 2011, immediately prior to commencement of our follow-on public offering on February 4, 2011. As of the termination of the offerings in 2011, we had sold a total of 13.3 132.3 On February 10, 2013, we entered into a series of agreements, which have been amended at various times after February 10, 2013, with Sentinel RE Investment Holdings LP (the “Investor”), an affiliate of Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, “KKR”) for the purpose of obtaining equity funding to finance investment opportunities (such investment and the related agreements, are referred to herein collectively as the “KKR Equity Commitment”). Pursuant to the KKR Equity Commitment, the Company authorized and issued 1,000 0.01 100,000 158.6 On June 19, 2013, we filed a registration statement on Form S-3 to register up to $ 99,000,000 10.02 , 11.63 12.45 642,075 6.3

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Summary Of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	3. Summary of Significant Accounting Policies The summary of significant accounting policies presented below is designed to assist in understanding our consolidated financial statements. These accounting policies 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. 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. Restricted cash represents cash held in interest bearing accounts and amounts related to impound reserve accounts for property taxes and insurance as required under the terms of mortgage loan agreements. Based on the intended use of the restricted cash, we have classified changes in restricted cash within the statements of cash flows as operating, investing or financing activities. The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. In accordance with the guidance for the consolidation of variable interest entities (“VIEs”), we analyze our variable interests, including investments in partnerships and joint ventures, to determine if the entity in which we have a variable interest is a variable interest entity. Our analysis includes both quantitative and qualitative reviews, based on our review of the design of the entity, its organizational structure including decision-making ability, risk and reward sharing experience and financial condition of other partner(s), voting rights, involvement in day-to-day capital and operating decisions and financial agreements. We also use quantitative and qualitative analyses to determine if we must consolidate a variable interest entity as the primary beneficiary. We record real estate notes receivable at the unpaid principal balance, net of any deferred origination fees, and valuation allowances. We amortize net deferred origination fees, which are comprised of loan fees collected from the borrower over the contractual life of the loan on a straight-line basis which approximates the effective interest method and immediately recognize in income any unamortized balances if the loan is repaid before its contractual maturity. We regularly evaluate the collectability of real estate notes receivable based on factors such as the financial strength of the borrower and any guarantor, the payment history of the borrower and current economic conditions. If our evaluation of these factors indicates it is probable that we will be unable to collect all amounts due under the terms of the applicable loan agreement, we would a reserve against the portion of the receivable that we estimate may not be collected. We account for our investments in unconsolidated joint ventures under the equity method of accounting. We exercise significant influence, but do not control these entities or direct the activities that most significantly impact the venture’s performance. Investments in unconsolidated entities are recorded initially at cost and subsequently adjusted for cash contributions and distributions. We recognize our allocable share of the equity in earnings of our unconsolidated entities based on the respective venture’s structure and preferences. The Company records construction in progress at cost, including acquisition fees and closing costs incurred. The cost of the construction in progress includes direct and indirect costs of development, including interest and miscellaneous costs incurred during the development period until the project is substantially complete and available for occupancy. Interest and loan costs attributable to funds used to finance construction in progress are capitalized as additional costs of development. We allocate the purchase price of our properties in accordance with ASC 805-10, “Business Combinations.” 15 39 In-place lease values are calculated based on management’s evaluation of the specific characteristics of each tenant’s lease and our overall relationship with the respective tenant. Acquired above and below market leases are valued based on the present value of the difference between prevailing market rates and the in-place rates over the remaining lease term. The value of acquired above and below market leases is amortized over the remaining non-cancelable terms of the respective leases as an adjustment to rental revenue on our consolidated statements of operations. We amortize the value of in-place leases and above and below market leases over the initial term of the respective leases. Should a tenant terminate its lease, the unamortized portion of the tenant improvements, intangible lease assets or liabilities and the in-place lease value will be immediately charged to expense. The value of the tenant improvements is amortized over an estimated useful life of three to five years. Contingent considerations include earnout liabilities and are valued based on the timing of each respective property achieving a specified net operating income threshold. The fair value of the contingent consideration is calculated based on the present value of the earnout payment at the point in time the specified net operating income threshold is met using a market derived discount rate. Goodwill represents the excess of acquisition cost over the fair value of identifiable net assets of the business acquired. Investments in real estate are recorded at cost less accumulated depreciation. Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets. The value of the building and improvements are depreciated over an estimated useful life of five to thirty nine years. The value of furniture, fixtures and vehicles are depreciated over an estimated useful life of three to five years. Intangible lease assets are amortized over an estimated useful life of three to five years. Expenditures for ordinary maintenance and repairs are expensed to operations as incurred. Renovations and improvements, which improve and/or extend the useful life of the asset, are capitalized and depreciated over their estimated useful life. Real Estate Assets We assess whether there has been impairment in the value of our investments in real estate whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Our portfolio is evaluated for impairment on a property-by-property basis. Indicators of potential impairment include the following: · Change in strategy resulting in a decreased holding period; · Decreased occupancy levels; · Deterioration of the rental market as evidenced by rent decreases over numerous quarters; · Properties adjacent to or located in the same submarket as those with recent impairment issues; and/or · Tenant financial problems. During 2016, 2015 and 2014, we did not record any impairment charges related to our investments in real estate. The assessment as to whether our investments in real estate are impaired is highly subjective. The calculations, which are primarily based on discounted cash flow analyses, involve management’s best estimate of the holding period, market comparables, future occupancy levels, rental rates, capitalization rates, lease-up periods and capital requirements for each property. A change in any one or more of these factors could materially impact whether a property is impaired as of any given valuation date. Goodwill We review goodwill for impairment annually and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. The guidance on goodwill impairment requires us to annually test goodwill for impairment under a two-step impairment test or under a qualitative assessment which became optional in 2011. In Step 1 of the two-step test, we compare the fair value of each reporting unit to its carrying value. We determine the fair value of our reporting unit based on the income approach. Under the income approach, we calculate the fair value of a reporting unit based on the present value of estimated future cash flows. If the fair value of the reporting unit exceeds the carrying value of the net assets assigned to that unit, goodwill is not impaired. If the carrying value of the net assets assigned to the reporting unit exceeds the fair value of the reporting unit, then the second step of the impairment test is performed in order to determine the implied fair value of the reporting unit’s goodwill. If the carrying value of a reporting unit’s goodwill exceeds its implied fair value, then the Company records an impairment loss equal to the difference. For the years ended December 31, 2016, 2015 and 2014, the Company performed Step 1 in its evaluation of goodwill. The Company did not record any impairment charges related to our goodwill. For federal income tax purposes, we have elected to be taxed as a real estate investment trust (“REIT”) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”), beginning with our taxable year ended December 31, 2008, which imposes limitations related to operating assisted-living properties. Each taxable REIT subsidiary (“TRS”) is a tax paying component for purposes of classifying deferred tax assets and liabilities. We record net deferred tax assets to the extent we believe these assets will more likely than not be realized. In making such determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent financial operations. In the event we were to determine that we would not be able to realize our deferred income tax assets in the future in excess of their net recorded amount, we would make an adjustment to the valuation allowance which would reduce the provision for income taxes. In accordance with the requirements of ASC 740-10, “ Income Taxes,” 100 Tenant and other receivables are comprised of rental and reimbursement billings due from tenants. Tenant receivables are recorded at the original amount earned, less an allowance for any doubtful accounts. Management assesses the realizability of tenant receivables on an ongoing tenant by tenant basis and provides for allowances as such balances, or portions thereof, become uncollectible. For the years ended December 31, 2016 and 2015 provisions for bad debts amounted to approximately $ 162,000 263,000 Costs incurred in connection with debt financing are recorded as deferred financing costs, which are presented in the balance sheet as a direct deduction from the carrying amount of the notes payable, consistent with debt discounts. Deferred financing costs are amortized on a straight-line basis which approximates the effective interest rate method over the contractual terms of the respective financings. Revenue is recognized when four basic criteria are met: persuasive evidence of an arrangement, the rendering of service, fixed and determinable income and reasonably assured collectability. Leases with fixed annual rental escalators are generally recognized on a straight-line basis over the initial lease period, subject to a collectability assessment. Rental income related to leases with contingent rental escalators is generally recorded based on the contractual cash rental payments due for the period. Because our leases may provide for free rent, lease incentives, or other rental increases at specified intervals, we straight-line the recognition of revenue, which results in the recording of a receivable for rent not yet due under the lease terms. Our revenues are comprised largely of rental income and other income collected from tenants. Noncontrolling interests include the portion of consolidated entities that are not owned by the Company, and the KKR net investment of $ 158.6 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. FASB ASC 825-10, “Financial Instruments,” 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 establishes a fair value hierarchy to categorize the inputs used in valuation techniques to measure fair value. Inputs are either observable or unobservable in the marketplace. Observable inputs are based on market data from independent sources and unobservable inputs reflect the reporting entity’s assumptions about market participant assumptions used to value an asset or liability. Financial assets and liabilities recorded at fair value on the consolidated balance sheets 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. Our balance sheets include the following financial instruments: cash and cash equivalents, tenant and other receivables, net, deferred costs and other assets, restricted cash, notes payable, net, accounts payable and accrued liabilities, prepaid rent and security deposits and distributions payable. With the exception of notes payable and our contingent consideration discussed in Note 12, we consider the carrying values of our financial instruments to approximate fair value because they generally expose the Company to limited credit risk and because of the short period of time between origination of the financial assets and liabilities and their expected settlement. We generally determine or calculate the fair value of financial instruments using 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. The preparation of our consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of the assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the reporting period. Actual results could materially differ from those estimates. Reclassifications have been made to the prior year’s consolidated financial statements to conform to current year’s presentation. The Company had previously recorded income tax benefit as a component of general and administrative expenses. As of December 31, 2016, income tax benefit has been reclassified and is separately presented in the consolidated statement of operations. The presentation of prior-period information has been retrospectively adjusted and the reclassification has no impact on net income. On January 1, 2016 we adopted Accounting Standards Update (“ASU”) 2015-03, “Simplifying the Presentation of Debt Issuance Costs,” which requires that debt issuance costs related to the Company’s recognized notes payable be presented in the balance sheet as a direct deduction from the carrying amount of the notes payable, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected. The guidance requires retrospective adoption for all prior periods presented. As of December 31, 2016 and December 31, 2015, $ 3.9 3.4 Adopted accounting standard In February 2015, the Financial Accounting Standards Board (“FASB”) issued ASU 2015-02, “Amendments to the Consolidation Analysis,” which requires amendments to both the variable interest entity and voting models. The amendments (i) modify the identification of variable interests (fees paid to a decision maker or service provider), the VIE characteristics for a limited partnership or similar entity and primary beneficiary determination under the VIE model, and (ii) eliminate the presumption within the current voting model that a general partner controls a limited partnership or similar entity. The Company concluded that the Operating Partnership now meets the criteria as a VIE under ASU 2015-02 and the ASU was adopted as of January 1, 2016. The Company's significant asset is its investment in the Operating Partnership, as described in Note 1, and consequently, substantially all of the Company's assets and liabilities represent those assets and liabilities of the Operating Partnership. Accordingly, there is no change in the presentation of the consolidated financial statements of the Company upon adoption of ASU 2015-02. Pending accounting standards In January 2017, the FASB issued ASU 2017-04, “Intangibles – Goodwill and Other: Simplifying the Test for Goodwill Impairment”, which removes Step 2 from the goodwill impairment test. The amendments are effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019 on a prospective basis. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is evaluating the impact the adoption of ASU 2017-04 will have on its consolidated financial statements and related disclosures. In January 2017, the FASB issued ASU 2017-01, “Business Combinations (Topic 805): Clarifying the Definition of a Business”. The guidance is intended to assist entities with evaluating whether a set of transferred assets and activities is a business. Under the new guidance, an entity first determines whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets. If this threshold is met, the set is not a business. If the threshold is not met, the entity then evaluates whether the set meets the requirement that a business include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create outputs. The new standard is effective for the Company on January 1, 2018, however, early adoption is permitted. The Company is evaluating the effect that ASU 2017-01 will have on its consolidated financial statements and related disclosures. In November 2016, the FASB issued ASU 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash”, which enhances the presentation requirements of restricted cash. The standard aims to unify presentation and minimize the diversity in practice. These presentation changes include increased disclosures surrounding the restrictions on cash and the inclusion of the restricted cash balance in the reconciliation completed at the end of the statement of cash flows. The new standard is effective for the Company on January 1, 2018, however, early adoption is permitted. The Company does not expect ASU 2016-18 to have a significant impact on its consolidated financial statements and related disclosures. In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230)”, which indicated that there is diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. This ASU is effective for annual reporting periods beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. Adoption of this ASU will not have a significant impact on our statement of cash flows. In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)", which amends various aspects of existing guidance for leases and requires additional disclosures about leasing arrangements. It will require companies to recognize lease assets and lease liabilities by lessees for those leases classified as operating leases under previous GAAP. This ASU retains a distinction between finance leases and operating leases. The classification criteria for distinguishing between finance leases and operating leases are substantially similar to the classification criteria for distinguishing between capital leases and operating leases in the previous leases guidance. The new guidance will be effective for the Company beginning on January 1, 2019 and earlier adoption is permitted. The Company is evaluating the impact of the adoption of the new guidance on its financial statements. In 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”. The standard is a comprehensive new revenue recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. The ASU will replace most existing revenue recognition guidance in GAAP when it becomes effective, although it will not affect the accounting for rental related revenues. The new standard is effective for the Company on January 1, 2018, pursuant to ASU 2015-09 which deferred the adoption date by one year. Early adoption is permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company has begun its process of assessing the impact of the guidance. To date the Company’s assessment efforts include the identification of various revenue streams within the scope of the guidance and the evaluation of certain lease contracts with tenants. Although the Company is still evaluating the revenue streams and the timing of recognition under the new model, a significant change to our current revenue recognition policies is not expected as a substantial portion of our revenue consists of rental income from leasing arrangements, which is excluded from ASU 2014-09. The Company has not yet selected a transition method.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Acquisitions	4. Acquisitions 2016 Acquisitions Spring Village at Essex On November 18, 2016, through a wholly owned subsidiary, we acquired real estate property (“Spring Village at Essex”) from an unaffiliated third party, for a total cost of approximately $ 11.3 0.2 50 Spring Village at Essex Land $ 950,000 Buildings and improvements 9,651,000 Furniture, fixtures and vehicles 699,000 Real estate acquisition $ 11,300,000 2015 Acquisitions Sumter Grand On February 6, 2015, through a wholly owned subsidiary, we acquired real estate property (“Sumter Grand”) from an unaffiliated third party, for an initial purchase price of $ 31.5 8.5 40.0 150 Gables of Kentridge On April 1, 2015, through wholly owned subsidiaries, we acquired real estate property (“Gables of Kentridge”) from two third parties who are not affiliated with us or our Advisor, for a purchase price of $ 15.4 91 9.1 9.0 Armbrook Village On April 6, 2015, through wholly owned subsidiaries, we acquired a 95 30.0 3.6 33.6 46 51 21 Parkway In October 2014, we invested approximately $ 3.5 65 142 1.5 32.5 22.4 3.5 1.2 20.3 0.6 Accel at Golden In April 2015, the Company closed on a commitment to fund the development of a 120 bed, 112,500 18.5 16.0 2.1 13.9 Armbrook Gables of Sumter Village Kentridge Grand Land $ 957,000 $ 640,000 $ - Buildings and improvements 29,689,000 12,939,000 37,295,000 Furniture, fixtures and vehicles 1,401,000 870,000 1,580,000 Intangible assets 1,098,000 921,000 - Intangible liability (1) - - (516,000) Contingent liability (2) (3,145,000) - (6,859,000) Real estate acquisition $ 30,000,000 $ 15,370,000 $ 31,500,000 Acquisition expenses $ 488,000 $ 267,000 $ 430,000 (1) This balance represents the Company’s fair value estimate of the above market ground lease associated with the land in the Sumter Grand acquisition and is recorded in accounts payable and accrued liabilities. (2) This balance represents the Company’s fair value estimate of contingent consideration due to the sellers of Armbrook Village and Sumter Grand based on achieving a specified net operating income threshold. The contingent consideration is recorded in accounts payable and accrued liabilities. The contingent consideration related to the Sumter Grand acquisition will expire in August 2018 if the net operating threshold is not achieved. The Company recorded a change in fair value of contingent consideration of $ (3.4) 3.7 0.2 1.7 Year ended Year ended December 31, 2015 December 31, 2014 Revenues $ 117,809,000 $ 90,421,000 Net loss $ (6,865,000) $ (4,248,000) Basic and diluted net loss per common share attributable to common stockholders $ (0.60) $ (0.35) The Company recorded revenues of $ 3.7 1.5 The Company recorded revenues of $ 3.3 1.0 The Company recorded revenues of $ 4.1 1.3

Real Estate Note Receivable

Real Estate Note Receivable	12 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
Real Estate Notes Receivable	5. Real Estate Note Receivable On January 16, 2015, the Company, through an indirect wholly owned subsidiary, originated a development loan in the amount of $ 41.9 on January 15, 2020 with one 12-month option to extend at the Company’s option 7.9 1 Interest revenue on the loan receivable is recognized as earned based upon the principal amount outstanding subject to an evaluation of collectability risks. For the years ended December 31, 2016 and 2015, interest revenue from the real estate note receivable was $ 2.1 0.4 34.2 7.7

Investments in Real Estate

Investments in Real Estate	12 Months Ended
	Dec. 31, 2016
Investments In Real Estate [Abstract]
Investments in Real Estate	6. Investments in Real Estate Buildings Furniture, and Fixtures Construction Intangible Land Improvements and Vehicles in Progress Lease Assets Cost $ 48,146,000 $ 440,985,000 $ 20,579,000 $ 13,933,000 $ 28,739,000 Accumulated depreciation and amortization - (45,485,000) (7,987,000) - (23,906,000) Net $ 48,146,000 $ 395,500,000 $ 12,592,000 $ 13,933,000 $ 4,833,000 As of December 31, 2015, accumulated depreciation and amortization related to investments in real estate and related lease intangibles were as follows: Buildings Furniture, and Fixtures Construction Intangible Land Improvements and Vehicles in Progress Lease Assets Cost $ 47,196,000 $ 429,945,000 $ 18,746,000 $ 5,168,000 $ 28,737,000 Accumulated depreciation and amortization - (32,711,000) (6,086,000) - (22,006,000) Net $ 47,196,000 $ 397,234,000 $ 12,660,000 $ 5,168,000 $ 6,731,000 Depreciation expense associated with buildings and improvements and furniture, fixtures and vehicles for the years ended December 31, 2016, 2015, and 2014 was approximately $14.7 million, $13.6 million, and $8.2 million, respectively. Amortization associated with the intangible assets for the years ended December 31, 2016, 2015 and 2014 was $1.8 million, $6.2 million, and $3.6 million, respectively. Intangible Assets 2017 $ 389,000 2018 388,000 2019 295,000 2020 295,000 2021 290,000 2022 and thereafter 3,176,000 $ 4,833,000 The estimated useful lives for intangible assets range from two to twenty 17

Investments in Unconsolidated E

Investments in Unconsolidated Entities	12 Months Ended
	Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Investments In Unconsolidated Entities	7. Investments in Unconsolidated Entities Entity (1) Property Type Acquired Investment (2) Ownership% Physicians Center MOB Medical Office Building April 2012 $ - 71.9 % Buffalo Crossings Assisted-Living Facility January 2014 493,000 25.0 % $ 493,000 As of December 31, 2015, the Company owns an interest in the following entities that are accounted for under the equity method of accounting: Entity (1) Property Type Acquired Investment (2) Ownership% Physicians Center MOB Medical Office Building April 2012 $ - 71.9 % Buffalo Crossings Assisted-Living Facility January 2014 880,000 25.0 % $ 880,000 (1) These entities are not consolidated because the Company exercises significant influence, but does not control or direct the activities that most significantly impact each entity’s performance. (2) Represents the carrying value of the Company’s investment in each unconsolidated entity. As of December 31, 2016, the Company maintains a 71.9 December 31, December 31, 2016 2015 Cash and cash equivalents $ 688,000 $ 279,000 Investments in real estate, net 22,747,000 24,712,000 Other assets 721,000 713,000 Total assets $ 24,156,000 $ 25,704,000 Notes payable, net $ 23,193,000 $ 22,679,000 Accounts payable and accrued liabilities 289,000 285,000 Other liabilities 454,000 49,000 Total stockholders’ equity 220,000 2,691,000 Total liabilities and equity $ 24,156,000 $ 25,704,000 For the year ended December 31, 2016 2015 (1)(2) 2014 (1)(2) Total revenues $ 5,435,000 $ 2,757,000 $ 1,631,000 Net loss (420,000) (1,252,000) (497,000) Company’s equity in loss from unconsolidated entities 163,000 362,000 352,000 (1) On January 28, 2014, through a wholly-owned subsidiary, we acquired a 25 108 (2) As of December 31, 2014, the Company’s initial investment of $ 3.5

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2016
Notes Payable [Abstract]
Notes Payable	8. Notes Payable Notes payable were $ 370.1 366.1 338.7 335.3 2.80 6.43 4.22 219.6 59 4.78 150.5 41 3.41 2.45 6.43 4.02 On November 18, 2016, in connection with the acquisition of Spring Village at Essex, we entered into a loan agreement with M&T Bank, an unaffiliated lender, in an aggregate amount of $ 8.7 28 4.5 On August 19, 2016, we entered into three Multifamily Loan and Security Agreements (the “Loans”) with KeyBank National Association (“KeyBank”), an unaffiliated lender, originated under Fannie Mae’s Delegated Underwriting and Servicing Product Line for aggregate borrowings of approximately $ 54.6 10 1 1.8 On August 19, 2016, we entered into a Secured Loan Agreement with KeyBank, with an aggregate loan amount of approximately $ 62.1 57.0 1.1 698,000 30 30 In connection with the closing of the loans described above, the Company recognized a loss on debt extinguishment in the amount of $ 0.4 On August 31, 2016, we entered into a Participation Agreement (the “Participation Agreement”) among Red Capital Partners, LLC (“Red Capital”), an unaffiliated lender, and Sentio Georgetown, LLC and Sentio Georgetown TRS, LLC, which are wholly owned subsidiaries of the Company. Pursuant to the Participation Agreement, Red Capital entered into a $ 20.0 200,000 5.25 12.3 On June 30, 2015, the Company consolidated a 65 17.3 3.90 20 17.1 On May 15, 2015, the Company entered into a secured loan agreement with Synovus Bank, an unaffiliated lender, in the aggregate amount of up to $ 11.3 3.25 25 9.3 On April 6, 2015, in connection with the acquisition of Armbrook Village in Westfield, Massachusetts, we entered into a loan agreement with M&T Bank, an unaffiliated lender, with an outstanding principal balance of approximately $ 21.0 May 1, 2020 28 6.00 On April 1, 2015, in connection with the acquisition of the Gables of Kentridge in Kent, Ohio, the Company assumed a note payable in the amount of approximately $ 9.1 9.0 4.41 35 On December 31, 2014, the Company entered into a secured loan agreement with KeyBank, in the aggregate amount of up to $ 53.2 28.9 19.2 We are required by the terms of the applicable loan documents to meet certain financial covenants, such as debt service coverage ratios, rent coverage ratios and reporting requirements. Any violation of financial covenants under the loans would constitute an event of default. If we were not able to secure a waiver of such covenant violations, the lender could, in its discretion, declare the loan to be immediately due and payable, take possession of the properties securing the loan, enforce the Company’s loan guarantees of the loan balance, or exercise other remedies available to it under law. If the lender were to declare the loan to be immediately due and payable, we expect to refinance the loan in satisfaction of the debt. Any such refinancing may be on terms and conditions less favorable than the terms currently available under the loan. As of December 31, 2016, we were in compliance with all such covenants and requirements. Outstanding Outstanding Principal Principal Balance as of Balance as of Property Name Payment Type Interest Rate December 31, 2016 (1) December 31, 2015 (1) Maturity Date Accel at Golden Months 1-36 interest only. Month 37 to maturity principal and interest at a 25-year amortization rate One month LIBOR + 3.00% $ 9,342,000 $ 53,000 15-May-20 Amber Glen Principal and interest at a 30-year amortization rate 6.40% - fixed 8,102,000 8,243,000 1-Jun-19 Armbrook Village Months 1-24 interest only. Month 25 to maturity principal and interest at a 28-year amortization schedule at per annum interest rate of 6.00% One month LIBOR + 2.20% 21,000,000 21,000,000 1-May-20 Carriage Court of Hilliard Principal and interest at a 35-year amortization rate 2.80% - fixed 12,767,000 13,024,000 1-Nov-47 Caruth Haven Court Principal and interest at a 30-year amortization rate 6.43% - fixed 9,122,000 9,273,000 1-Jan-20 Compass on the Bay Principal and interest at a 35-year amortization rate 3.32% - fixed 3,671,000 3,748,000 1-Mar-45 Compass on the Bay 2nd Principal and interest at a 35-year amortization rate 5.65% - fixed 2,629,000 2,666,000 1-Mar-45 Cornerstone Dallas Rehab Principal and interest at a 30-year amortization rate 4.75% - fixed 6,895,000 7,018,000 22-Oct-18 Forestview Manor Principal and interest at a 30-year amortization rate 4.45% - fixed 8,121,000 8,280,000 1-Jul-19 Gables of Hudson (2) Months 1-60 interest only. Month 61 to maturity principal and interest at a 30-year amortization rate One month LIBOR + 2.66% 15,982,000 11,375,000 1-Sep-26 Gables of Kentridge Principal and interest at a 35-year amortization rate 4.41% - fixed 8,871,000 8,992,000 1-May-49 Greentree at Westwood Principal and interest at a 30-year amortization rate 4.45% - fixed 3,577,000 3,647,000 1-Jul-19 Hedgcoxe Health Plaza Principal and interest at a 30-year amortization rate 4.90% - fixed 5,223,000 5,316,000 14-Aug-22 Hudson Creek Principal and interest at a 30-year amortization rate 6.11% - fixed 7,506,000 7,633,000 1-Jun-19 Live Oaks Village of Hammond (3) Months 1-23 interest only. Month 24 to maturity principal and interest at a 30-year amortization rate One month LIBOR + 3.00% 3,727,000 4,550,000 19-Aug-19 Live Oaks Village of Slidell (3) Months 1-23 interest only. Month 24 to maturity principal and interest at a 30-year amortization rate One month LIBOR + 3.00% 2,077,000 3,700,000 19-Aug-19 Mesa Vista Inn Health Center (3) Months 1-23 interest only. Month 24 to maturity principal and interest at a 30-year amortization rate One month LIBOR + 3.00% 8,248,000 10,000,000 19-Aug-19 Mill Creek Principal and interest at a 30-year amortization rate 6.40% - fixed 7,820,000 7,957,000 1-Jun-19 Oakleaf Village Portfolio Principal and interest at a 25-year amortization rate 4.00% - fixed 18,471,000 18,988,000 26-Nov-18 Rome LTACH (4) Principal and interest at a 25-year amortization rate 4.50% - fixed 12,055,000 12,408,000 31-Mar-17 Spring Village at Essex Months 1-24 interest only. Month 25 to maturity principal and interest at a 28-year amortization rate One month LIBOR + 2.95% 8,673,000 - 18-Nov-21 Spring Village at Floral Vale Principal and interest at a 30-year amortization rate 4.45% - fixed 6,016,000 6,133,000 1-Jul-19 Spring Village at Wildewood (2) Months 1-60 interest only. Month 61 to maturity principal and interest at a 30-year amortization rate One month LIBOR + 2.66% 11,272,000 6,410,000 1-Sep-26 Standish Village Months 1-48 interest only. Month 49 to maturity principal and interest at a 30-year amortization rate 5.76% - fixed rate 10,885,000 10,885,000 1-Jan-24 St. Andrews Village Months 1-48 interest only. Month 49 to maturity principal and interest at a 30-year amortization rate Months 1-24 floating rate of one month LIBOR + 3.07%; 4.64% fixed rate for the remaining term 30,205,000 30,205,000 1-Sep-23 Sugar Creek Principal and interest at a 30-year amortization rate 6.20% - fixed 7,341,000 7,468,000 1-Jun-19 Sumter Grand (3) Months 1-23 interest only. Month 24 to maturity principal and interest at a 30-year amortization rate One month LIBOR + 3.00% 19,195,000 19,195,000 19-Aug-19 Sumter Place (2) Months 1-60 interest only. Month 61 to maturity principal and interest at a 30-year amortization rate One month LIBOR + 2.66% 27,325,000 28,860,000 1-Sep-26 Terrace at Mountain Creek Principal and interest at a 30-year amortization rate 4.45% - fixed 8,121,000 8,280,000 1-Jul-19 The Delaney at Georgetown Village Interest only 5.25% - fixed 12,268,000 - 15-Jan-20 The Oaks Bradenton Principal and interest at a 30-year amortization rate 4.45% - fixed 3,790,000 3,864,000 1-Jul-19 The Parkway Months 1-36 interest only. Month 37 to maturity principal and interest at a 20-year amortization rate 3.90% - fixed 17,117,000 16,115,000 5-Jul-19 Woodbury Mews Portfolio (3) Months 1-23 interest only. Month 24 to maturity principal and interest at a 30-year amortization rate One month LIBOR + 3.00% 23,704,000 24,437,000 19-Aug-19 Woodland Terrace at the Oaks Months 1-36 interest only. Month 37 to maturity principal and interest at a 25-year amortization rate 4.87% - fixed 8,995,000 8,995,000 1-Oct-24 $ 370,113,000 $ 338,718,000 Less: Deferred financing costs 3,879,000 3,352,000 Less: Discount 137,000 78,000 Notes payable, net $ 366,097,000 $ 335,288,000 (1) As of December 31, 2016 and 2015, all notes payable are secured by the underlying real estate. (2) On August 19, 2016, this loan was refinanced with KeyBank under Fannie Mae’s Delegated Underwriting and Servicing Product Line discussed above. (3) On August 19, 2016 we entered into a Secured Loan Agreement with KeyBank as a part of a refinancing discussed above. (4) The Company is in the process of refinancing the Rome LTACH debt which matures on March 31, 2017. If we are unable to execute a refinance of the Rome LTACH debt prior to the maturity date, we would pay off the debt with cash on hand as of December 31, 2016 Year Principal Amount 2017 $ 15,261,000 2018 28,712,000 2019 133,045,000 2020 59,847,000 2021 10,190,000 2022 and thereafter 123,058,000 $ 370,113,000 Less: Deferred financing costs 3,879,000 Less: Discount 137,000 $ 366,097,000

Operating Leases

Operating Leases	12 Months Ended
	Dec. 31, 2016
Leases, Operating [Abstract]
Operating Leases of Lessor Disclosure	9. Operating Leases All resident leases in our senior operations living segment are on a month-to-month basis and are excluded from the following schedule. Years ending December 31, Receipt Amount 2017 $ 9,589,000 2018 9,785,000 2019 9,889,000 2020 9,698,000 2021 9,755,000 2022 and thereafter 41,848,000 Under the terms of its ground lease agreements, the Company is responsible for the monthly rental payment. These amounts are recorded as property, operating and maintenance expenses in the accompanying consolidated statements of operations. The Company incurred approximately $ 0.5 0.3 0.0 Years ending December 31, Payment Amount 2017 $ 491,000 2018 500,000 2019 510,000 2020 521,000 2021 531,000 2022 and thereafter 13,353,000

Concentration of Risks

Concentration of Risks	12 Months Ended
	Dec. 31, 2016
Risks and Uncertainties [Abstract]
Concentration of Credit Risks	10. Concentration of Risks Financial instruments that potentially subject the Company to a concentration of credit risk are primarily cash investments; cash is generally invested in investment-grade short-term instruments. As of December 31, 2016, we had cash accounts in excess of Federal Deposit Insurance Corporation insured limits. Concentrations of credit risks arise when a number of operators, tenants or obligors related to our investments are engaged in similar business activities, located in the same geographic region, or have similar economic features that would cause their ability to meet contractual obligations, including those to the Company, to be similarly affected by changes in economic conditions. We regularly monitor various segments of our portfolio to assess potential concentration of risks. Management believes the current portfolio is reasonably diversified across healthcare-related real estate and does not contain any other significant concentration of credit risks, except as presented below. For the year ended December 31, 2016, the senior living segment generated 91 Percentage of Total Revenues State December 31, December 31, December 31, Ohio 12% 12% 7% Florida 11% 11% 2% Massachusetts 12% 11% 9% Texas 10% 9% 12% The Company utilizes third-party operators to provide property management and accounting services for our senior living operations, for which we pay annual management fees. As operators, the Company is not directly exposed to their credit risk. However, we rely on our operators to operate our senior housing operations in compliance with the terms of our management agreements and all applicable laws and regulations. The operators’ inability to satisfy their obligations under the management agreements could have a material adverse effect on us. Percentage of Total Revenues Operators December 31, December 31, December 31, JEA Senior Living 11% 12% 17% Woodbine Senior Living 13% 10% 11% Senior Living Residences 12% 11% 9% 12 Oaks Senior Living 13% 6% 8% Arrow Senior Living 13% 8% 0% KR Management 10% 9% 0%

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Segment Reporting	11. Segment Reporting As of December 31, 2016, we operated in three reportable business segments for management and internal financial reporting purposes: senior living operations, triple-net leased properties, and medical office building (“MOB”) properties. These operating segments are the segments of the Company for which separate financial information is available and for which segment results are evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. Our senior living operations segment primarily consists of investments in senior housing communities located in the United States for which we engage independent third-party managers. Our triple-net leased properties segment consists of investments in senior living, skilled nursing and hospital facilities in the United States. These facilities are leased to healthcare operating companies under long-term “triple-net” or “absolute-net” leases, which require the tenants to pay all property-related expenses. Our MOB properties segment primarily consists of investing in medical office buildings and leasing those properties to healthcare providers under long-term leases, which may require tenants to pay property-related expenses. We evaluate performance of the combined properties in each segment based on net operating income. Net operating income is defined as total revenue less property operating and maintenance expenses. There are no intersegment sales or transfers. We use net operating income to evaluate the operating performance of our real estate investments and to make decisions concerning the operation of the property. We believe that net operating income is useful to investors in understanding the value of income-producing real estate. Net income is the GAAP measure that is most directly comparable to net operating income; however, net operating income should not be considered as an alternative to net income as the primary indicator of operating performance as it excludes certain items such as depreciation and amortization, asset management fees, real estate acquisition costs, interest expense and corporate general and administrative expenses. Additionally, net operating income as we define it may not be comparable to net operating income as defined by other REITs or companies. For the Year Ended December 31, 2016 Triple-net Senior living leased MOB operations properties properties Consolidated Rental revenue $ 81,893,000 $ 8,600,000 $ 846,000 $ 91,339,000 Resident services and fee income 32,971,000 - - 32,971,000 Tenant reimbursements and other income 3,131,000 2,287,000 308,000 5,726,000 117,995,000 10,887,000 1,154,000 130,036,000 Property operating and maintenance expenses 81,518,000 1,155,000 328,000 83,001,000 Net operating income $ 36,477,000 $ 9,732,000 $ 826,000 $ 47,035,000 General and administrative 2,081,000 Asset management fees 3,200,000 Real estate acquisition costs - Depreciation and amortization 16,509,000 Interest expense, net 15,905,000 Change in fair value of contingent consideration (3,138,000) Equity in loss from unconsolidated entities 163,000 Loss on debt extinguishment 378,000 Income tax benefit (1,585,000) Net income 13,522,000 Preferred return to series B preferred OP units and other noncontrolling interests 11,692,000 Net income attributable to common stockholders $ 1,830,000 For the Year Ended December 31, 2015 Triple-net Senior living leased MOB operations properties properties Consolidated Rental revenue $ 69,927,000 $ 9,314,000 $ 853,000 $ 80,094,000 Resident services and fee income 31,415,000 - 1,000 31,416,000 Tenant reimbursements and other income 2,361,000 1,113,000 311,000 3,785,000 103,703,000 10,427,000 1,165,000 115,295,000 Property operating and maintenance expenses 72,851,000 1,127,000 323,000 74,301,000 Net operating income $ 30,852,000 $ 9,300,000 $ 842,000 $ 40,994,000 General and administrative 2,430,000 Asset management fees 5,346,000 Real estate acquisition costs 1,466,000 Depreciation and amortization 19,803,000 Interest expense, net 13,777,000 Change in fair value of contingent consideration 689,000 Equity in loss from unconsolidated entities 362,000 Income tax benefit (3,128,000) Net income 249,000 Preferred return to series B preferred OP units and other noncontrolling interests 9,147,000 Net loss attributable to common stockholders $ (8,898,000) Triple-net Senior living leased MOB operations properties properties Consolidated Rental revenue $ 42,338,000 $ 6,727,000 $ 857,000 $ 49,922,000 Resident services and fee income 28,845,000 - - 28,845,000 Tenant reimbursements and other income 1,606,000 882,000 310,000 2,798,000 72,789,000 7,609,000 1,167,000 81,565,000 Property operating and maintenance expenses 49,592,000 939,000 310,000 50,841,000 Net operating income $ 23,197,000 $ 6,670,000 $ 857,000 $ 30,724,000 General and administrative 1,710,000 Asset management fees 4,135,000 Real estate acquisition costs 2,724,000 Depreciation and amortization 11,793,000 Interest expense, net 9,912,000 Equity in loss from unconsolidated entities 352,000 Income tax benefit (389,000) Net income 487,000 Preferred return to series B preferred OP units and other noncontrolling interests 3,153,000 Net loss attributable to common stockholders $ (2,666,000) December 31, 2016 December 31, 2015 Assets Investment in real estate: Senior living operations $ 410,007,000 $ 389,733,000 Triple-net leased properties 92,112,000 87,432,000 Medical office building properties 7,066,000 7,251,000 Total reportable segments $ 509,185,000 $ 484,416,000 Reconciliation to consolidated assets: Cash and cash equivalents 34,921,000 22,801,000 Investment in unconsolidated entities 493,000 880,000 Tenant and other receivables, net 5,949,000 5,751,000 Deferred costs and other assets 9,973,000 8,636,000 Restricted cash 7,777,000 6,748,000 Goodwill 5,965,000 5,965,000 Total assets $ 574,263,000 $ 535,197,000 Capital expenditures in the senior living operations segment were $ 12.8 109.5 94.8 8.7 5.4 37.1 0.2 0.0 0.0 As of December 31, 2016 and 2015, goodwill had a balance of approximately $ 6.0

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	12. Fair Value Measurements Our balance sheets include the following financial instruments: cash and cash equivalents, tenant and other receivables, net, deferred costs and other assets, restricted cash, notes payable, net, accounts payable and accrued liabilities, prepaid rent and security deposits and distributions payable. With the exception of notes payable and our contingent consideration discussed below, we consider the carrying values of our financial instruments to approximate fair value because they generally expose the Company to limited credit risk and because of the short period of time between origination of the financial assets and liabilities and their expected settlement. We generally determine or calculate the fair value of financial instruments using 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 December 31, 2016, the estimated fair value of the contingent consideration related to the Sumter Grand, and Armbrook Village acquisitions is $ 5.4 (3.1) 3.1 2.2 1.8 The fair value of the contingent consideration is based on significant inputs which are not observable to the market and as a result are classified in Level 3 of the fair value hierarchy. The fair value is derived by making assumptions on the timing of the lease up process based on actual performance as compared to internal underwriting models and applying a discount rate in the range of 9.0 12.0 The fair value of the Company’s notes payable is estimated by discounting future cash flows of each instrument at rates that reflect the current market rates available to the Company for debt of the same terms and maturities. The fair value of the notes payable was determined using Level 2 inputs of the fair value hierarchy. Based on the estimates used by the Company, the fair value of notes payable was $ 369.2 337.9 370.1 366.1 338.7 335.3 There were no transfers between Level 1 or 2 during the year ended December 31, 2016.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Taxes [Abstract]
Income Taxes	13. Income Taxes For federal income tax purposes, we have elected to be taxed as a REIT, under Sections 856 through 860 of the Code beginning with our taxable year ended December 31, 2008. REIT status imposes limitations related to operating assisted-living properties. Generally, to qualify as a REIT, we cannot directly operate assisted-living facilities. However, such facilities may generally be operated by a TRS pursuant to a lease with the Company. Therefore, we have formed Master HC TRS, LLC (“Master TRS”), a wholly owned subsidiary of HC Operating Partnership, LP, to lease any assisted-living properties we acquire and to operate the assisted-living properties pursuant to contracts with unaffiliated management companies. The Company made the applicable election for Master TRS to qualify as a TRS. Under the management contracts, the management companies direct control of the daily operations of these assisted-living properties. As of December 31, 2016, we had acquired twenty-seven wholly-owned assisted-living facilities and formed twenty-nine wholly-owned TRSs, which includes a Master TRS that consolidates our wholly-owned TRSs. Each TRS is a tax paying component for purposes of classifying deferred tax assets and liabilities. We record net deferred tax assets to the extent we believe these assets will more likely than not be realized. In making such determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent financial operations. In the event we were to determine that we would not be able to realize our deferred income tax assets in the future in excess of their net recorded amount, we would establish a valuation allowance which would reduce the provision for income taxes. Years Ended December 31, 2016 2015 2014 Current: Federal $ - $ - $ 256,000 State 57,000 132,000 224,000 Total current provision 57,000 132,000 480,000 Deferred: Federal (1,494,000) (2,990,000) (775,000) State (148,000) (270,000) (94,000) Total deferred benefit (1,642,000) (3,260,000) (869,000) Income tax benefit $ (1,585,000) $ (3,128,000) $ (389,000) The reconciliation between the benefit for income taxes and the amount computed by applying the federal statutory income tax rate to the income (loss) for operations at the Master TRS is isolated to the federal benefit received as a result of state income taxes. Therefore, the Company’s effective income tax rate approximates the statutory rates. 2016 2015 Deferred tax assets: Straight-line rent $ 4,791,000 $ 3,335,000 Accrued vacation 189,000 192,000 Tenant receivable reserve 48,000 103,000 Net operating loss 2,352,000 1,846,000 Deferred income 749,000 843,000 Total deferred tax assets 8,129,000 6,319,000 Deferred tax liabilities: Depreciation (474,000) (305,000) Total deferred tax liabilities (474,000) (305,000) Net deferred tax assets: $ 7,655,000 $ 6,014,000 At December 31, 2016, the Master TRS had net operating loss carryforwards for federal income tax purposes of approximately $ 2.4

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2016
Stockholders' Equity Note [Abstract]
Stockholders' Equity	14 Stockholders’ Equity Common Stock Our charter authorizes the issuance of 580,000,000 0.01 20,000,000 0.01 1,000 13.4 13.3 133.5 132.3 Preferred Stock and OP Units As of December 31, 2016 and December 31, 2015 we had issued 1,000 1,586,000 158.7 156.9 1.7 18.9 15,830,938 The Series C Preferred Stock ranks senior to the Company’s common stock with respect to dividend rights and rights on liquidation. The holders of the Series C Preferred Stock are entitled to receive dividends, as and if authorized by our board of directors out of funds legally available for that purpose, at an annual rate equal to 3 The Series B Preferred Units rank senior to the Operating Partnership’s common units with respect to distribution rights and rights on liquidation. With the exception of certain Series B Preferred Units issued in connection with the put exercise related to the Georgetown Loan (the “Georgetown Put”), the Series B Preferred Units are entitled to receive cash distributions at an annual rate equal to 7.5 6.0 6.0 219,120 7.5 200,000 10.0 After payment of the preferred distributions, additional distributions will be paid first to the common units until they have received an aggregate blended return equal to a weighted average interest rate determined taking into account the Series B Preferred Units receiving a 6.0% return and the Series B Preferred Units receiving a 7.5% return per unit in annual distributions commencing from February 10, 2013, and thereafter to the common units and Series B Preferred Units pro rata. For the years ended December 31, 2016 and 2015, the Operating Partnership paid distributions on the Series B Preferred Units in the amount of $ 11.0 9.8 At December 31, 2016, no securities remain issuable under the KKR Equity Commitment. Distributions Available to Common Stockholders Distributions Declared (1)(2) Distributions Cash Flows from Period Cash Reinvested (3) Total Paid Operations First quarter 2015 $ 1,330,000 $ 85,000 $ 1,415,000 $ 1,354,000 $ 3,348,000 Second quarter 2015 1,347,000 85,000 1,432,000 1,330,000 4,369,000 Third quarter 2015 1,363,000 86,000 1,449,000 1,347,000 5,515,000 Fourth quarter 2015 1,362,000 87,000 1,449,000 1,363,000 5,418,000 $ 5,402,000 $ 343,000 $ 5,745,000 $ 5,394,000 $ 18,650,000 First quarter 2016 $ 1,342,000 $ 89,000 $ 1,431,000 $ 1,362,000 $ 6,871,000 Second quarter 2016 1,343,000 88,000 1,431,000 1,342,000 4,607,000 Third quarter 2016 1,358,000 91,000 1,449,000 1,345,000 7,072,000 Fourth quarter 2016 1,358,000 91,000 1,449,000 1,358,000 6,285,000 $ 5,401,000 $ 359,000 $ 5,760,000 $ 5,407,000 $ 24,835,000 (1) In order to meet the requirements for being treated as a REIT under the Internal Revenue Code, we must pay distributions to our stockholders each taxable year equal to at least 90 (2) This table represents distributions declared and paid to common stockholders for each respective period. These amounts do not include distribution payments to the Series B Preferred Unit holders for the years ended December 31, 2016 and 2015. (3) On June 19, 2013, we filed a registration statement on Form S-3 to register up to $ 99,000,000 10.02 , 11.63 12.45 613,463 Commencing with the declaration of distributions for daily record dates occurring in the second quarter of 2013 and thereafter, our board of directors has declared distributions on our common stock in amounts per share that, if declared and paid each day for a 365-day period, would equate to an annualized rate of $ 0.50 5.00 10.00 In connection with the Participation Agreement (as described in Note 8), the Board of Directors adopted a Regular Quarterly Dividend Policy (the “Dividend Policy”), which documents the circumstances under which the Board of Directors may increase the regular quarterly dividend that may be paid to holders of the common stock of the Company (the “Regular Quarterly Dividend Rate”) from its current level of $ 0.125 Stock Repurchase Program In 2007, we adopted a stock repurchase program that permitted our stockholders to sell their shares of common stock to us in limited circumstances subject to the terms and conditions of the program. Our board of directors could amend, suspend or terminate the program at any time with 30 Since May 29, 2011 our stock repurchase program has been suspended for all repurchases except repurchases due to death of a stockholder. On March 31, 2014, we informed stockholders of the complete suspension of the share repurchase program following the March 2014 redemption date. The Company redeemed all stock repurchase requests due to death received prior to March 31, 2014. No shares have been repurchased pursuant to the program following the 2014 suspension. Any repurchase requests submitted while the program is suspended will be returned to investors and must be resubmitted upon resumption of the stock repurchase program. If the stock repurchase program is resumed, we will give all stockholders notice that we are resuming redemptions, so that all stockholders will have an equal opportunity to submit shares for repurchase. Period Total Number of Shares Redeemed Average Price 2014 49,962 $ 11.63 2015 - $ - 2016 - $ - Employee and Director Incentive Stock Plan We have adopted an Employee and Director Incentive Stock Plan (the “Plan”) which provides for the grant of awards to our directors and full-time employees, as well as other eligible participants that provide services to us. We have no employees, and we currently do not have plans to grant awards under the Plan to persons who are not directors. Awards granted under the Plan may consist of nonqualified stock options, incentive stock options, restricted stock, share appreciation rights, and dividend equivalent rights. The term of the Plan is 10 10 Tax Treatment of Distributions For tax purposes, our distributions are comprised of taxable ordinary dividend and return of capital. Per Common Shares 2016 2015 2014 Taxable ordinary dividend $ - 0.00 % $ - 0.00 % $ 0.14 27.12 % Return of capital $ 0.50 100.00 % $ 0.50 100.00 % $ 0.36 72.88 % Capital gain $ - 0.00 % $ - 0.00 % $ - 0.00 %

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	15. Earnings Per Share We report earnings (loss) per share pursuant to ASC Topic 260, “ Earnings per Share 1,586,260 1,586,000 946,560

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	16. Related Party Transactions Advisory Relationship with the Advisor Throughout 2013, 2014, 2015 and 2016 we were party to an Advisory Agreement with the Advisor, which became effective on January 1, 2012 for a one-year term ending December 31, 2012. The Advisory Agreement was renewed for additional one-year terms commencing on January 1, 2014, January 1, 2015, January 1, 2016, and January 1, 2017, however, as discussed below under the heading “ Transition to Internal Management Agreement Pursuant to the provisions of the Advisory Agreement, the Advisor is responsible for managing, operating, directing and supervising the operation of our company and its assets. Generally, the Advisor is responsible for providing us with (i) property acquisition, disposition and financing services, (ii) asset management and operational services, including real estate services and financial and administrative services, (iii) stockholder services, and (iv) in the event we conduct a public offering of our securities, offering-related services. The fees and expense reimbursements payable or paid to the Advisor under the Advisory Agreement, and subject to the terms of the Transition Agreement, as discussed below under the heading “ Transition to Internal Management Agreement Offering Stage Fees and Expenses: ⋅ If our board of directors determines that it is advisable and in our best interests to conduct an offering of our securities, the Advisor will be entitled to be reimbursed for organizational and offering costs paid by the Advisor on our behalf. Organizational and offering costs consist of all expenses (other than sales commissions and the dealer manager fees) to be paid by us in connection with our offerings, including our legal, accounting, printing, mailing and filing fees, charges of our escrow holder and other accountable offering expenses. However, the Advisor would be required to reimburse us to the extent that our organization and offering expenses are in excess of 15 Acquisition and Operating Stage Fees and Expenses: ⋅ Subject to the limitation on fees agreed to in the Transition Agreement, we are obligated to pay the Advisor acquisition fees in an amount equal to 1.0 1.0 0.0 1.4 1.6 ⋅ We are not required to reimburse the Advisor or its affiliates for any of their costs or expenses that are not directly attributable to our business, including without limitation (i) any personnel costs incurred by the Advisor to its employees, and (ii) any costs related to the Advisor’ rent, utilities and general overhead. We are responsible for paying directly or reimbursing the Advisor for costs that are directly attributable to our business. ⋅ The Advisor must restrict total operating expenses for the preceding four consecutive fiscal quarters, as determined at the end of each fiscal quarter, to the greater of 2 25 5.3 7.8 5.8 2 25 ⋅ Subject to compliance with the 2%/25% Guidelines and the limitation on fees agreed to in the Transition Agreement, we are obligated to pay the Advisor a financing coordination fee for services rendered by the Advisor in connection with the refinancing of any of our debt obligations in an amount equal to 0.5% of the gross amount of any such refinancing, provided however, that the Advisor will not be entitled to a financing coordination fee in connection with the refinancing of debt obligations secured by any particular asset that was subject to a refinancing in connection with which the Advisor received a financing coordination fee within the immediately preceding three year period. Any such financing coordination fee is payable to the Advisor upon the closing of the related refinancing. During the years ended December 31, 2016, 2015 and 2014, the Advisor earned approximately $ 0.0 0.0 0.1 ⋅ Subject to compliance with the 2%/25% Guidelines and the limitation on fees agreed to in the Transition Agreement, we are obligated to pay the Advisor a monthly asset management fee in an amount equal to one-twelfth of 1.0 0.125 (i) one-fourth of 0.15% of our assets under management, calculated on a quarterly basis as of the last day of the quarter, or (ii) $150,000. 3.2 5.3 4.1 ⋅ Subject to the limitation on fees agreed to in the Transition Agreement, if we retain the Advisor or one of its affiliates to manage or lease any of our properties, we will pay the Advisor or such affiliate a market-based fee in accordance with a separately negotiated property management, leasing and development agreement to be approved by the independent directors committee, which agreement may provide for fees similar to what other management or leasing companies generally charge for the management or leasing of similar properties, and which may include reimbursement for the costs and expenses the Advisor or its affiliates incurs in managing or leasing our properties. During the years ended December 31, 2016, 2015 and 2014, we did not pay any property management, leasing or development fees to the Advisor. Listing/ Liquidation Stage Fees and Expenses: ⋅ Subject to the limitation on fees agreed to in the Transition Agreement, if the Advisor or one of its affiliates provides a substantial amount of the services (as determined by a majority of our directors, including a majority of our independent directors committee) in connection with the sale of one or more of our properties, other than a sale in connection with a transaction in which we sell, grant, convey or relinquish our ownership of all or substantially all of our assets, we would be required to pay the Advisor or such affiliate at closing a disposition fee equal to the lesser of (i) 1.0% of the sales price of such property or properties, or (ii) one-half of the competitive real estate commission in light of the size, type and location of the property. (i) 6.0% of the aggregate contract sales price of each property or (ii) the competitive real estate commission for each property. 0.0 0.0 0.0 ⋅ As described in further detail below under “ Transition to Internal Management Agreement Transition to Internal Management Agreement In connection with entering into the KKR Equity Commitment, we entered into the Transition Agreement with the Advisor and the Investor. The Transition Agreement sets forth the terms for our transition from our current externally-advised structure to an internal management structure. The Transition Agreement provides that the existing external advisory structure will remain in place upon substantially the same terms, unless the parties agree otherwise, as currently in effect until February 10, 2019, subject to annual renewals of the Advisory Agreement in accordance with the requirements of the Company’s governing documents, at the end of which time the advisory function will be internalized in accordance with the Transition Agreement. The Transition Agreement limits the amount of the fees payable under the Advisory Agreement. Specifically, notwithstanding the provisions of the Advisory Agreement, acquisition fees, financing coordination fees, asset management fees, property management and leasing fees, and disposition fees payable under the Advisory Agreement (collectively, the “Advisory Agreement Fees”) are limited to (1) $3.2 million plus an excess amount (the “Excess Amount”) of $3.6 million 10.0 During the period from February 10, 2013 through February 10, 2015, and February 11, 2015 through February 10, 2017, the Advisory Agreement Fees were similarly capped, except that the Excess Amount was $3.2 million and as a result the Maximum Fee Amount was $9.6 million. In addition, solely with respect to any fees earned by the Advisor during the period from February 11, 2014 to February 10, 2015 in excess of the Maximum Fee Amount, such fees were included in fees payable during the one-year period from February 11, 2015 to February 10, 2016, subject to a maximum amount of $1.0 million. As of November 2015, the Advisor earned the Maximum Fee Amount of $9.6 million for the period from February 10, 2013 through February 10, 2016. As of December 31, 2016, the Advisor earned the maximum fee amount for February 11, 2016 through February 10, 2017 of $3.2 million. The Transition Agreement also amends the Advisory Agreement to modify the terms of the subordinated incentive fees to which the Advisor may be entitled under certain circumstances. Specifically, the Transition Agreement provides for the following possible incentive amounts to be payable to the Advisor: · Subordinated Sales and Financings Promote o 10% of the amount, if any, by which (A) the sum of (i) the number of Legacy Common Shares times the per share cash distributions to the holders of the Legacy Common Shares in respect of cash from sales and financings, plus (ii) the total amount of all previous dividends or distributions paid on the Legacy Common Shares since the date of the inception of the Company’s initial public offering; exceeds (B) the sum of (x) the total invested capital for the Legacy Common Shares and (y) the amount required to pay stockholders a 7% cumulative, non-compounded return from inception of the Company’s initial public offering through the date of the closing of the applicable sale or financing on the Legacy Common Shares; over: o the net asset value per share of common stock as of the closing of the applicable sale or financing (as defined in the Transition Agreement). However, if the subordinated sales and financings promote is payable as the result of a sale of all or substantially all of the assets of the Company, then the promote will be paid in cash rather than shares of common stock. · Subordinated Internalization Promote o a cash payment equal to 40% of: · 10% of the amount, if any, by which (A) the sum of (i) the number of Legacy Common Shares times the per share net asset value on the determination date, plus (ii) the total amount of dividends or distributions paid on the Legacy Common Shares from date from inception of the Company’s initial public offering through the determination date; exceeds (B) the sum of (x) the total invested capital for the Legacy Common Shares and (y) the amount required to pay stockholders a 7% cumulative, non-compounded return from inception of the Company’s initial public offering through the determination date on the Legacy Common Shares (such amount, the “Subordinated Internalization Cash Amount”); and an amount of shares of common stock equal to the ratio of: · 60 over: · the net asset value per share of common stock as of the determination date (as defined in the Transition Agreement). However, in the event the common stock is listed on a national stock exchange as of the determination date, the amount of the subordinated internalization promote will be determined by reference to the market value of a share of common stock (as defined in the Transition Agreement), rather than the net asset value. Furthermore, the amount of the subordinated internalization promote will be reduced by the amount of any subordinated sales and financings promote previously earned by our Advisor. · Subordinated Performance Fee Due Upon Termination 5 o 10% of the amount, if any, by which (A) the sum of (i) the product of the Legacy Common Shares times the per share net asset value at the termination date and (ii) total distributions (excluding any stock dividends and distributions paid on shares of common stock redeemed by the Company) paid on the Legacy Common Shares through the termination date, exceeds (B) the sum of (i) the total invested capital for the Legacy Common Shares and (ii) the total distributions required to be made to the Legacy Common Shares in order to pay stockholders a 7% cumulative, non-compounded return from inception of the Company’s initial public offering through the termination date; o less any prior payment to our Advisor of a subordinated sales and financings promote. Upon the internalization date established pursuant to the Transition Agreement, we will acquire all of the Advisor’s assets that are reasonably necessary for the management and operation of our business (we refer to such a transaction as an internalization). On or prior to the internalization date, our Advisor will facilitate our efforts to hire the employees of the Advisor. With respect to certain key persons, we will be required to enter into employment agreements based upon market terms established in consultation with an independent compensation consultant. The Investor will have the right to consent to our hiring of all key personnel. Upon an internalization or a Liquidation Event (as defined in the investor rights agreement entered into in connection with the KKR Equity Commitment), then our Advisor will receive a fee in an amount that is the lesser of (i) $3.0 million, and (ii) the remaining portion of the $10.0 million Maximum Fee Amount, if any, not previously paid to our Advisor. In connection with entering into the Transition Agreement, we and the Advisor have generally agreed not to terminate the Advisory Agreement without the prior consent of the Investor. KKR Equity Commitment Pursuant to the KKR Equity Commitment, we could issue and sell to the Investor and its affiliates on a private placement basis from time to time over a period of three years, up to $ 158.7 15,830,938 57.9 As of December 31, 2016, pursuant to the terms of the KKR Equity Commitment, the Investor had purchased 1,000 1,586,000 158.7 Securities Purchase Agreement On February 10, 2013, the Company, and the Operating Partnership (as used herein, the Company and the Operating Partnership are referred to as the “Sentio Parties”) and the Investor entered into a Securities Purchase Agreement which was subsequently amended in April 2014 and December 2014 (as amended, the “Purchase Agreement”). Under the Purchase Agreement, the Sentio Parties could issue and sell to the Investor on a private placement basis from time to time over a period of up to three years, newly issued Series C Preferred Stock and newly issued Series B Preferred Units in an amount up to $158.7 million. In conjunction with the execution of the Purchase Agreement, the Sentio Parties paid to Investor a transaction fee of $ 2.0 1.0 To the extent the minimum purchase obligation was not exercised during the term of the commitment, the Sentio Parties were required to pay a premium to the Investor calculated and payable annually as a percentage of the unexercised amount under the commitment. For the years ended December 31, 2016, 2015 and 2014, we paid the Investor an unused fee of $ 0.0 0.1 0.0 Pursuant to the Purchase Agreement, our board of directors increased the size of the board by two members and filled the vacancies created thereby with two directors selected by the Investor. We will also, at the Investor’s sole election, add one additional director, which director will also be selected by the Investor. Series C Preferred Stock The Series C Preferred Stock issued to the Investor pursuant to the Purchase Agreement ranks senior to the Company’s common stock with respect to dividend rights and rights on liquidation. The holders of the Series C Preferred Shares will be entitled to receive dividends, as and if authorized by the board out of funds legally available for that purpose, at an annual rate equal to 3%. The holder of each share of Series C Preferred Stock has the right to one vote for each share of As-Converted Common Stock (defined below) held by such holder and its affiliates and with respect to such vote, such holder will have full voting rights and powers equal to the voting rights and powers of the holders of the Company’s common stock, and will be entitled to notice of any shareholders’ meeting in accordance with the bylaws of the Company, and shall be entitled to vote, together with holders of common stock as a single class, with respect to any question upon which holders of common stock have the right to vote, with certain limited exceptions. “As-Converted Common Stock” means, as of any determination date and with respect to any holder, the number of shares of Common Stock then held by such holder and its affiliates after giving effect to the conversion or exchange, in accordance with their terms, of any and all securities then convertible or exchangeable, directly or indirectly, into common stock. Amended Partnership Agreement On April 5, 2013, the Company, HPC LP TRS, LLC and the Investor entered a Second Amended and Restated Limited Partnership Agreement of the Operating Partnership which was subsequently amended on December 22, 2014 and August 31, 2016 (as amended, the “Amended Partnership Agreement”). The Amended Partnership Agreement authorizes the issuance of the Series B Preferred Units to the Investor. The Series B Preferred Units rank senior to the Partnership’s common units with respect to distribution rights and rights on liquidation. The Series B Preferred Units related to the acquisition of an Approved Acquisition (as defined in the Purchase Agreement) will receive cash distributions at an annual rate equal to 7.5 6.0 200,000 7.5 10 Each Series B Preferred Unit has an initial issuance value of $ 100.00 10.02 The Amended Partnership Agreement permits the Operating Partnership to engage in a sale of the assets or equity of the Operating Partnership without the consent of the Investor, which would otherwise be required under the Second Amended and Restated Limited Partnership Agreement, provided the following conditions are met: (i) the sale is cash only, and (ii) the Company or the Operating Partnership, as applicable, has issued to the Investor $100,000 in aggregate liquidation preference amount of Series C Preferred Stock and $149,900,000 in aggregate liquidation preference amount of Series B Preferred Units. Investor Rights Agreement On February 10, 2013, the Company, the Operating Partnership, and the Investor entered into an Investor Rights Agreement, which was subsequently amended in December 2014 (as amended, the “Investor Rights Agreement”) that provides the Investor, its affiliates and their respective permitted transferees with certain rights as a holder of Series C Preferred Stock and Series B Preferred Units. More specifically, the Investor Rights Agreement provides such holders with preemptive rights to participate in future equity issuances by the Company, subject to customary exceptions. Additionally, the Investor Rights Agreement contains certain significant minority protections that require the Investor’s consent before taking certain actions. Under the Investor Rights Agreement, the Sentio Parties are also prohibited from incurring indebtedness other than property-level mortgage refinancing, subject to certain limitations. The Investor Rights Agreement includes standstill provisions prohibiting the Investor from acquiring additional securities of the Company or the Partnership other than in accordance with the Purchase Agreement (subject to the pre-emptive rights described above) until February 10, 2016. The Investor Rights Agreement contains customary registration rights requiring the Company to register the shares of Series C Preferred Stock and common stock held by the Investor as a result of exchange of its Series B Preferred Units for resale to the public from time to time, in defined circumstances and within defined deadlines as set forth in the Investor Rights Agreement. The Company is also required, upon demand by the Investor in accordance with the Investor Rights Agreement, to register one or more primary offerings of newly issued common stock and to use the proceeds from such offerings to redeem partnership units held by the Investor. Beginning on July 1, 2017, the Investor, at its sole option, will have the ability to cause the Company to initiate a listing of the Company’s common stock, a sale of the Company, or a process to sell all or substantially all of our assets subject to specific terms and conditions. The Investor Rights Agreement permits the Company to engage in a sale of the assets or equity of the Operating Partnership and the Company without the consent of the Investor, which would otherwise be required under the Investor Rights Agreement, provided the following conditions are met: (i) the sale is cash only, and (ii) the Company or the operating partnership, as applicable, has issued to the Investor $100,000 in aggregate liquidation preference amount of Series C Preferred Stock and $149,900,000 in aggregate liquidation preference amount of Series B Preferred Units.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies [Abstract]
Commitments and Contingencies	17. Commitments and Contingencies We monitor our properties 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 we believe would have a material effect on our 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 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 position, cash flows and results of operations. We are not presently subject to any material litigation nor, to our knowledge, is any material litigation threatened against the Company which if determined unfavorably to us would have a material adverse effect on our cash flows, financial condition or results of operations. Refer to Note 4 “Acquisitions” and Note 5 “Real Estate Note Receivable” for additional information on the remaining commitment to fund development projects, contingent considerations and our real estate note receivable.

Selected Quarterly Data (unaudi

Selected Quarterly Data (unaudited)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Data (unaudited)	18. Selected Quarterly Data (unaudited) Quarters Ended, June 30, March 31, December 31, 2016 September 30, 2016 2016 2016 Revenues $ 32,875,000 $ 32,569,000 $ 32,778,000 $ 31,814,000 Expenses 25,472,000 25,542,000 27,824,000 25,953,000 Income from operations 7,403,000 7,027,000 4,954,000 5,861,000 Net income 6,922,000 2,958,000 1,264,000 2,378,000 Preferred return to series B preferred OP units and other noncontrolling interests 3,066,000 3,010,000 2,904,000 2,712,000 Net income (loss) attributable to common stockholders $ 3,856,000 $ (52,000) $ (1,640,000) $ (334,000) Net income (loss) per common share attributable to common stockholders- basic and diluted $ 0.33 $ 0.00 $ (0.14) $ (0.03) Weighted average common shares - basic and diluted 11,529,872 11,522,649 11,515,846 11,508,316 Quarters Ended, June 30, March 31, December 31, 2015 September 30, 2015 2015 2015 Revenues $ 31,238,000 $ 29,775,000 $ 28,658,000 $ 25,624,000 Expenses 25,438,000 27,129,000 27,185,000 23,594,000 Income from operations 5,800,000 2,646,000 1,473,000 2,030,000 Net income (loss) 2,991,000 (509,000) (1,498,000) (735,000) Preferred return to series B preferred OP units and other noncontrolling interests 2,518,000 2,447,000 2,243,000 1,939,000 Net income (loss) attributable to common stockholders $ 473,000 $ (2,956,000) $ (3,741,000) $ (2,674,000) Net income (loss) per common share attributable to common stockholders- basic and diluted $ 0.04 $ (0.26) $ (0.33) $ (0.23) Weighted average common shares - basic and diluted 11,500,818 11,493,442 11,486,143 11,478,707

Schedule III - REAL ESTATE AND

Schedule III - REAL ESTATE AND ACCUMULATED DEPRECIATION	12 Months Ended
	Dec. 31, 2016
Real Estate and Accumulated Depreciation Disclosure [Abstract]
REAL ESTATE AND ACCUMULATED DEPRECIATION	SENTIO HEALTHCARE PROPERTIES, INC. AND SUBSIDIARIES REAL ESTATE AND ACCUMULATED DEPRECIATION December 31, 2016 Initial Cost Gross Amount Invested (1) Costs Building & Capitalized Subsequent Building & Accumulated Description Encumbrances Land Improvements to Acquisition Land Improvements Total Depreciation (2) Year Built Date Acquired Caruth Haven Court $ 9,122,000 $ 4,256,000 $ 13,986,000 $ 616,000 $ 4,256,000 $ 14,602,000 $ 18,858,000 $ 3,216,000 1999 1/22/2009 The Oaks Bradenton 3,790,000 390,000 2,818,000 185,000 390,000 3,003,000 3,393,000 659,000 1996 5/1/2009 GreenTree at Westwood 3,577,000 714,000 3,717,000 132,000 714,000 3,849,000 4,563,000 755,000 1998 12/30/2009 Mesa Vista Inn Health Center 8,248,000 2,010,000 10,430,000 1,000 2,010,000 10,431,000 12,441,000 1,920,000 2008 12/31/2009 Rome LTACH 12,055,000 - 18,202,000 - - 18,202,000 18,202,000 3,622,000 2011 1/12/2010 Oakleaf Village at Lexington 11,636,000 1,767,000 10,768,000 200,000 1,767,000 10,968,000 12,735,000 2,021,000 1999 4/30/2010 Oakleaf Village at Greenville 6,835,000 1,351,000 9,770,000 239,000 1,351,000 10,009,000 11,360,000 1,839,000 2001 4/30/2010 Cornerstone Dallas Rehab 6,895,000 2,004,000 10,368,000 64,000 2,004,000 10,432,000 12,436,000 1,771,000 2008 8/19/2010 Terrace at Mountain Creek 8,121,000 1,880,000 6,070,000 560,000 1,880,000 6,630,000 8,510,000 1,307,000 1995 9/3/2010 Hedgcoxe Health Plaza 5,222,000 1,580,000 6,388,000 222,000 1,580,000 6,610,000 8,190,000 1,333,000 2008 12/22/2010 Carriage Court of Hilliard 12,767,000 1,580,000 12,180,000 621,000 1,580,000 12,801,000 14,381,000 2,138,000 1998 12/22/2010 Spring Village at Floral Vale 6,016,000 860,000 3,010,000 635,000 860,000 3,645,000 4,505,000 737,000 1996 12/22/2010 Forestview Manor 8,121,000 1,320,000 8,035,000 265,000 1,320,000 8,300,000 9,620,000 1,678,000 2002 1/14/2011 Woodland Terrace at the Oaks 8,995,000 1,000,000 7,148,000 556,000 1,000,000 7,704,000 8,704,000 1,352,000 1996 4/14/2011 Amber Glen 8,102,000 546,000 11,874,000 118,000 546,000 11,992,000 12,538,000 1,379,000 2006 8/31/2012 Mill Creek 7,820,000 825,000 10,503,000 13,000 825,000 10,516,000 11,341,000 1,189,000 2006 8/31/2012 Hudson Creek 7,506,000 543,000 10,053,000 29,000 543,000 10,082,000 10,625,000 1,179,000 2006 8/31/2012 Sugar Creek 7,341,000 567,000 10,473,000 113,000 567,000 10,586,000 11,153,000 1,246,000 2007 8/31/2012 Woodbury Mews Portfolio 23,704,000 2,267,000 28,754,000 299,000 2,267,000 29,053,000 31,320,000 3,251,000 2003 10/21/2013 Standish Village 10,885,000 3,100,000 10,639,000 556,000 3,100,000 11,195,000 14,295,000 1,267,000 1994 12/6/2013 Compass on the Bay 6,300,000 5,551,000 4,825,000 32,000 5,551,000 4,857,000 10,408,000 354,000 1960 4/4/2014 St. Andrews Village 30,205,000 5,351,000 35,445,000 30,000 5,351,000 35,475,000 40,826,000 2,334,000 2006 8/20/2014 The Parkway 17,117,000 1,200,000 20,326,000 (105,000) 1,200,000 20,221,000 21,421,000 653,000 2015 10/2/2014 Live Oaks Village of Hammond 3,727,000 694,000 5,620,000 117,000 694,000 5,737,000 6,431,000 347,000 1999 11/14/2014 Live Oaks Village of Slidell 2,077,000 476,000 4,547,000 81,000 476,000 4,628,000 5,104,000 297,000 2000 11/14/2014 Spring Village at Wildewood 11,272,000 683,000 8,451,000 19,000 683,000 8,470,000 9,153,000 349,000 2014 11/21/2014 Gables of Hudson 15,982,000 974,000 15,364,000 - 974,000 15,364,000 16,338,000 878,000 2013 12/18/2014 Sumter Place 27,325,000 - 46,014,000 - - 46,014,000 46,014,000 2,435,000 2012 12/31/2014 Sumter Grand 19,195,000 - 37,295,000 - - 37,295,000 37,295,000 1,953,000 2014 2/6/2015 Gables of Kentridge 8,871,000 640,000 12,939,000 23,000 640,000 12,962,000 13,602,000 657,000 2005 4/1/2015 Accel at Golden (3) 9,342,000 2,110,000 - - 2,110,000 - 2,110,000 - 2016 4/3/2015 Armbrook Village 21,000,000 957,000 29,688,000 14,000 957,000 29,702,000 30,659,000 1,361,000 2013 4/6/2015 Spring Village at Essex 8,673,000 950,000 9,650,000 - 950,000 9,650,000 10,600,000 8,000 2016 11/18/2016 Totals $ 357,844,000 $ 48,146,000 $ 435,350,000 $ 5,635,000 $ 48,146,000 $ 440,985,000 $ 489,131,000 $ 45,485,000 (1) The aggregate cost of real estate for federal income tax purposes was $ 503.0 (2) See Note 3 to our consolidated financial statements for information regarding useful lives used for depreciation and amortization. (3) See Note 4 to our consolidated financial statements for information regarding the construction in progress at Accel at Golden. The changes in total real estate for the three years ended December 31, 2016 are as follows. Cost Accumulated Depreciation Balance at December 31, 2014 $ 370,124,000 $ 21,070,000 2015 Acquisitions 107,017,000 11,641,000 Balance at December 31, 2015 $ 477,141,000 $ 32,711,000 2016 Acquisitions 11,990,000 12,774,000 Balance at December 31, 2016 $ 489,131,000 $ 45,485,000

Summary of Significant Accoun26

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Summary Of Significant Accounting Policies [Abstract]
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.
Restricted Cash	Restricted Cash Restricted cash represents cash held in interest bearing accounts and amounts related to impound reserve accounts for property taxes and insurance as required under the terms of mortgage loan agreements. Based on the intended use of the restricted cash, we have classified changes in restricted cash within the statements of cash flows as operating, investing or financing activities.
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. In accordance with the guidance for the consolidation of variable interest entities (“VIEs”), we analyze our variable interests, including investments in partnerships and joint ventures, to determine if the entity in which we have a variable interest is a variable interest entity. Our analysis includes both quantitative and qualitative reviews, based on our review of the design of the entity, its organizational structure including decision-making ability, risk and reward sharing experience and financial condition of other partner(s), voting rights, involvement in day-to-day capital and operating decisions and financial agreements. We also use quantitative and qualitative analyses to determine if we must consolidate a variable interest entity as the primary beneficiary.
Real Estate Note Receivable	Real Estate Note Receivable We record real estate notes receivable at the unpaid principal balance, net of any deferred origination fees, and valuation allowances. We amortize net deferred origination fees, which are comprised of loan fees collected from the borrower over the contractual life of the loan on a straight-line basis which approximates the effective interest method and immediately recognize in income any unamortized balances if the loan is repaid before its contractual maturity. We regularly evaluate the collectability of real estate notes receivable based on factors such as the financial strength of the borrower and any guarantor, the payment history of the borrower and current economic conditions. If our evaluation of these factors indicates it is probable that we will be unable to collect all amounts due under the terms of the applicable loan agreement, we would a reserve against the portion of the receivable that we estimate may not be collected.
Investments In Unconsolidated Entities	Investments in Unconsolidated Entities We account for our investments in unconsolidated joint ventures under the equity method of accounting. We exercise significant influence, but do not control these entities or direct the activities that most significantly impact the venture’s performance. Investments in unconsolidated entities are recorded initially at cost and subsequently adjusted for cash contributions and distributions. We recognize our allocable share of the equity in earnings of our unconsolidated entities based on the respective venture’s structure and preferences.
Construction in Progress	Construction in Progress The Company records construction in progress at cost, including acquisition fees and closing costs incurred. The cost of the construction in progress includes direct and indirect costs of development, including interest and miscellaneous costs incurred during the development period until the project is substantially complete and available for occupancy. Interest and loan costs attributable to funds used to finance construction in progress are capitalized as additional costs of development.
Real Estate Purchase Price Allocation	Real Estate Purchase Price Allocation We allocate the purchase price of our properties in accordance with ASC 805-10, “Business Combinations.” 15 39 In-place lease values are calculated based on management’s evaluation of the specific characteristics of each tenant’s lease and our overall relationship with the respective tenant. Acquired above and below market leases are valued based on the present value of the difference between prevailing market rates and the in-place rates over the remaining lease term. The value of acquired above and below market leases is amortized over the remaining non-cancelable terms of the respective leases as an adjustment to rental revenue on our consolidated statements of operations. We amortize the value of in-place leases and above and below market leases over the initial term of the respective leases. Should a tenant terminate its lease, the unamortized portion of the tenant improvements, intangible lease assets or liabilities and the in-place lease value will be immediately charged to expense. The value of the tenant improvements is amortized over an estimated useful life of three to five years. Contingent considerations include earnout liabilities and are valued based on the timing of each respective property achieving a specified net operating income threshold. The fair value of the contingent consideration is calculated based on the present value of the earnout payment at the point in time the specified net operating income threshold is met using a market derived discount rate. Goodwill represents the excess of acquisition cost over the fair value of identifiable net assets of the business acquired.
Investments in Real Estate	Investments in Real Estate Investments in real estate are recorded at cost less accumulated depreciation. Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets. The value of the building and improvements are depreciated over an estimated useful life of five to thirty nine years. The value of furniture, fixtures and vehicles are depreciated over an estimated useful life of three to five years. Intangible lease assets are amortized over an estimated useful life of three to five years. Expenditures for ordinary maintenance and repairs are expensed to operations as incurred. Renovations and improvements, which improve and/or extend the useful life of the asset, are capitalized and depreciated over their estimated useful life.
Impairment Of Real Estate Assets And Good will	Impairment of Real Estate Assets and Goodwill Real Estate Assets We assess whether there has been impairment in the value of our investments in real estate whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Our portfolio is evaluated for impairment on a property-by-property basis. Indicators of potential impairment include the following: · Change in strategy resulting in a decreased holding period; · Decreased occupancy levels; · Deterioration of the rental market as evidenced by rent decreases over numerous quarters; · Properties adjacent to or located in the same submarket as those with recent impairment issues; and/or · Tenant financial problems. During 2016, 2015 and 2014, we did not record any impairment charges related to our investments in real estate. The assessment as to whether our investments in real estate are impaired is highly subjective. The calculations, which are primarily based on discounted cash flow analyses, involve management’s best estimate of the holding period, market comparables, future occupancy levels, rental rates, capitalization rates, lease-up periods and capital requirements for each property. A change in any one or more of these factors could materially impact whether a property is impaired as of any given valuation date. Goodwill We review goodwill for impairment annually and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. The guidance on goodwill impairment requires us to annually test goodwill for impairment under a two-step impairment test or under a qualitative assessment which became optional in 2011. In Step 1 of the two-step test, we compare the fair value of each reporting unit to its carrying value. We determine the fair value of our reporting unit based on the income approach. Under the income approach, we calculate the fair value of a reporting unit based on the present value of estimated future cash flows. If the fair value of the reporting unit exceeds the carrying value of the net assets assigned to that unit, goodwill is not impaired. If the carrying value of the net assets assigned to the reporting unit exceeds the fair value of the reporting unit, then the second step of the impairment test is performed in order to determine the implied fair value of the reporting unit’s goodwill. If the carrying value of a reporting unit’s goodwill exceeds its implied fair value, then the Company records an impairment loss equal to the difference. For the years ended December 31, 2016, 2015 and 2014, the Company performed Step 1 in its evaluation of goodwill. The Company did not record any impairment charges related to our goodwill.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Adopted accounting standard In February 2015, the Financial Accounting Standards Board (“FASB”) issued ASU 2015-02, “Amendments to the Consolidation Analysis,” which requires amendments to both the variable interest entity and voting models. The amendments (i) modify the identification of variable interests (fees paid to a decision maker or service provider), the VIE characteristics for a limited partnership or similar entity and primary beneficiary determination under the VIE model, and (ii) eliminate the presumption within the current voting model that a general partner controls a limited partnership or similar entity. The Company concluded that the Operating Partnership now meets the criteria as a VIE under ASU 2015-02 and the ASU was adopted as of January 1, 2016. The Company's significant asset is its investment in the Operating Partnership, as described in Note 1, and consequently, substantially all of the Company's assets and liabilities represent those assets and liabilities of the Operating Partnership. Accordingly, there is no change in the presentation of the consolidated financial statements of the Company upon adoption of ASU 2015-02. Pending accounting standards In January 2017, the FASB issued ASU 2017-04, “Intangibles – Goodwill and Other: Simplifying the Test for Goodwill Impairment”, which removes Step 2 from the goodwill impairment test. The amendments are effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019 on a prospective basis. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is evaluating the impact the adoption of ASU 2017-04 will have on its consolidated financial statements and related disclosures. In January 2017, the FASB issued ASU 2017-01, “Business Combinations (Topic 805): Clarifying the Definition of a Business”. The guidance is intended to assist entities with evaluating whether a set of transferred assets and activities is a business. Under the new guidance, an entity first determines whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets. If this threshold is met, the set is not a business. If the threshold is not met, the entity then evaluates whether the set meets the requirement that a business include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create outputs. The new standard is effective for the Company on January 1, 2018, however, early adoption is permitted. The Company is evaluating the effect that ASU 2017-01 will have on its consolidated financial statements and related disclosures. In November 2016, the FASB issued ASU 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash”, which enhances the presentation requirements of restricted cash. The standard aims to unify presentation and minimize the diversity in practice. These presentation changes include increased disclosures surrounding the restrictions on cash and the inclusion of the restricted cash balance in the reconciliation completed at the end of the statement of cash flows. The new standard is effective for the Company on January 1, 2018, however, early adoption is permitted. The Company does not expect ASU 2016-18 to have a significant impact on its consolidated financial statements and related disclosures. In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230)”, which indicated that there is diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. This ASU is effective for annual reporting periods beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. Adoption of this ASU will not have a significant impact on our statement of cash flows. In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)", which amends various aspects of existing guidance for leases and requires additional disclosures about leasing arrangements. It will require companies to recognize lease assets and lease liabilities by lessees for those leases classified as operating leases under previous GAAP. This ASU retains a distinction between finance leases and operating leases. The classification criteria for distinguishing between finance leases and operating leases are substantially similar to the classification criteria for distinguishing between capital leases and operating leases in the previous leases guidance. The new guidance will be effective for the Company beginning on January 1, 2019 and earlier adoption is permitted. The Company is evaluating the impact of the adoption of the new guidance on its financial statements. In 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”. The standard is a comprehensive new revenue recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. The ASU will replace most existing revenue recognition guidance in GAAP when it becomes effective, although it will not affect the accounting for rental related revenues. The new standard is effective for the Company on January 1, 2018, pursuant to ASU 2015-09 which deferred the adoption date by one year. Early adoption is permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company has begun its process of assessing the impact of the guidance. To date the Company’s assessment efforts include the identification of various revenue streams within the scope of the guidance and the evaluation of certain lease contracts with tenants. Although the Company is still evaluating the revenue streams and the timing of recognition under the new model, a significant change to our current revenue recognition policies is not expected as a substantial portion of our revenue consists of rental income from leasing arrangements, which is excluded from ASU 2014-09. The Company has not yet selected a transition method.
Income Tax	Income Taxes For federal income tax purposes, we have elected to be taxed as a real estate investment trust (“REIT”) under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the “Code”), beginning with our taxable year ended December 31, 2008, which imposes limitations related to operating assisted-living properties. Each taxable REIT subsidiary (“TRS”) is a tax paying component for purposes of classifying deferred tax assets and liabilities. We record net deferred tax assets to the extent we believe these assets will more likely than not be realized. In making such determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent financial operations. In the event we were to determine that we would not be able to realize our deferred income tax assets in the future in excess of their net recorded amount, we would make an adjustment to the valuation allowance which would reduce the provision for income taxes.
Uncertain Tax Positions	Uncertain Tax Positions In accordance with the requirements of ASC 740-10, “ Income Taxes,” 100
Tenant And Other Receivables	Tenant and Other Receivables Tenant and other receivables are comprised of rental and reimbursement billings due from tenants. Tenant receivables are recorded at the original amount earned, less an allowance for any doubtful accounts. Management assesses the realizability of tenant receivables on an ongoing tenant by tenant basis and provides for allowances as such balances, or portions thereof, become uncollectible. For the years ended December 31, 2016 and 2015 provisions for bad debts amounted to approximately $ 162,000 263,000
Deferred Financing Costs	Deferred Financing Costs Costs incurred in connection with debt financing are recorded as deferred financing costs, which are presented in the balance sheet as a direct deduction from the carrying amount of the notes payable, consistent with debt discounts. Deferred financing costs are amortized on a straight-line basis which approximates the effective interest rate method over the contractual terms of the respective financings.
Revenue Recognition	Revenue Recognition Revenue is recognized when four basic criteria are met: persuasive evidence of an arrangement, the rendering of service, fixed and determinable income and reasonably assured collectability. Leases with fixed annual rental escalators are generally recognized on a straight-line basis over the initial lease period, subject to a collectability assessment. Rental income related to leases with contingent rental escalators is generally recorded based on the contractual cash rental payments due for the period. Because our leases may provide for free rent, lease incentives, or other rental increases at specified intervals, we straight-line the recognition of revenue, which results in the recording of a receivable for rent not yet due under the lease terms. Our revenues are comprised largely of rental income and other income collected from tenants.
Noncontrolling Interest in Consolidated Subsidiaries	Noncontrolling Interest in Consolidated Subsidiaries Noncontrolling interests include the portion of consolidated entities that are not owned by the Company, and the KKR net investment of $ 158.6 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.
Fair Value of Financial Instruments	Fair Value of Financial Instruments FASB ASC 825-10, “Financial Instruments,” 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 establishes a fair value hierarchy to categorize the inputs used in valuation techniques to measure fair value. Inputs are either observable or unobservable in the marketplace. Observable inputs are based on market data from independent sources and unobservable inputs reflect the reporting entity’s assumptions about market participant assumptions used to value an asset or liability. Financial assets and liabilities recorded at fair value on the consolidated balance sheets 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. Our balance sheets include the following financial instruments: cash and cash equivalents, tenant and other receivables, net, deferred costs and other assets, restricted cash, notes payable, net, accounts payable and accrued liabilities, prepaid rent and security deposits and distributions payable. With the exception of notes payable and our contingent consideration discussed in Note 12, we consider the carrying values of our financial instruments to approximate fair value because they generally expose the Company to limited credit risk and because of the short period of time between origination of the financial assets and liabilities and their expected settlement. We generally determine or calculate the fair value of financial instruments using 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.
Use of Estimates	Use of Estimates The preparation of our consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of the assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the reporting period. Actual results could materially differ from those estimates.
Reclassifications	Reclassifications Reclassifications have been made to the prior year’s consolidated financial statements to conform to current year’s presentation. The Company had previously recorded income tax benefit as a component of general and administrative expenses. As of December 31, 2016, income tax benefit has been reclassified and is separately presented in the consolidated statement of operations. The presentation of prior-period information has been retrospectively adjusted and the reclassification has no impact on net income. On January 1, 2016 we adopted Accounting Standards Update (“ASU”) 2015-03, “Simplifying the Presentation of Debt Issuance Costs,” which requires that debt issuance costs related to the Company’s recognized notes payable be presented in the balance sheet as a direct deduction from the carrying amount of the notes payable, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected. The guidance requires retrospective adoption for all prior periods presented. As of December 31, 2016 and December 31, 2015, $ 3.9 3.4

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2016
2016 Acquisitions [Member]
Business Acquisition [Line Items]
Schedule of Business Acquisitions, by Acquisition	We have accounted for the acquisition as an asset acquisition under GAAP. The following summary provides the cost of the acquired assets for Spring Village at Essex. The closing costs are included in the total basis. Spring Village at Essex Land $ 950,000 Buildings and improvements 9,651,000 Furniture, fixtures and vehicles 699,000 Real estate acquisition $ 11,300,000
2015 Acquisitions [Member]
Business Acquisition [Line Items]
Schedule of Business Acquisitions, by Acquisition	The following summary provides the allocation of the acquired assets and liabilities as of the acquisition dates. We have accounted for the acquisitions of Sumter Grand, the Gables of Kentridge and Armbrook Village as business combinations under GAAP. Under GAAP business combination accounting, the assets and liabilities of the acquired properties were recorded at their respective fair values as of the acquisition date and in our consolidated financial statements. The details of the purchase price of the acquired properties are set forth below: Armbrook Gables of Sumter Village Kentridge Grand Land $ 957,000 $ 640,000 $ - Buildings and improvements 29,689,000 12,939,000 37,295,000 Furniture, fixtures and vehicles 1,401,000 870,000 1,580,000 Intangible assets 1,098,000 921,000 - Intangible liability (1) - - (516,000) Contingent liability (2) (3,145,000) - (6,859,000) Real estate acquisition $ 30,000,000 $ 15,370,000 $ 31,500,000 Acquisition expenses $ 488,000 $ 267,000 $ 430,000 (1) This balance represents the Company’s fair value estimate of the above market ground lease associated with the land in the Sumter Grand acquisition and is recorded in accounts payable and accrued liabilities. (2) This balance represents the Company’s fair value estimate of contingent consideration due to the sellers of Armbrook Village and Sumter Grand based on achieving a specified net operating income threshold. The contingent consideration is recorded in accounts payable and accrued liabilities. The contingent consideration related to the Sumter Grand acquisition will expire in August 2018 if the net operating threshold is not achieved. The Company recorded a change in fair value of contingent consideration of $ (3.4) 3.7 0.2 1.7
Business Acquisition, Pro Forma Information	The following unaudited pro forma information for the years ended December 31, 2015 and 2014 have been prepared to reflect the incremental effect of the Gables of Kentridge and Armbrook Village acquisitions as if such acquisitions had occurred on January 1, 2014. Sumter Grand opened in December 2014, therefore the Company has excluded this acquisition from the pro forma financial statements. We have not adjusted the pro forma information for any items that may be directly attributable to the business combination or are non-recurring in nature. Year ended Year ended December 31, 2015 December 31, 2014 Revenues $ 117,809,000 $ 90,421,000 Net loss $ (6,865,000) $ (4,248,000) Basic and diluted net loss per common share attributable to common stockholders $ (0.60) $ (0.35)

Investments in Real Estate (Tab

Investments in Real Estate (Tables)	12 Months Ended
	Dec. 31, 2016
Investments In Real Estate [Abstract]
Schedule Of Cost and Accumulated Depreciation and Amortization Related To Real Estate Assets and Related Lease Intangibles	As of December 31, 2016, cost and accumulated depreciation and amortization related to real estate assets and related lease intangibles were as follows: Buildings Furniture, and Fixtures Construction Intangible Land Improvements and Vehicles in Progress Lease Assets Cost $ 48,146,000 $ 440,985,000 $ 20,579,000 $ 13,933,000 $ 28,739,000 Accumulated depreciation and amortization - (45,485,000) (7,987,000) - (23,906,000) Net $ 48,146,000 $ 395,500,000 $ 12,592,000 $ 13,933,000 $ 4,833,000 As of December 31, 2015, accumulated depreciation and amortization related to investments in real estate and related lease intangibles were as follows: Buildings Furniture, and Fixtures Construction Intangible Land Improvements and Vehicles in Progress Lease Assets Cost $ 47,196,000 $ 429,945,000 $ 18,746,000 $ 5,168,000 $ 28,737,000 Accumulated depreciation and amortization - (32,711,000) (6,086,000) - (22,006,000) Net $ 47,196,000 $ 397,234,000 $ 12,660,000 $ 5,168,000 $ 6,731,000
Estimated Amortization	Estimated amortization of the intangible lease assets for each of the five following years ended December 31 is as follows: Intangible Assets 2017 $ 389,000 2018 388,000 2019 295,000 2020 295,000 2021 290,000 2022 and thereafter 3,176,000 $ 4,833,000

Investments in Unconsolidated29

Investments in Unconsolidated Entities (Tables)	12 Months Ended
	Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Equity Method Accounting	As of December 31, 2016, the Company owns an interest in the following entities that are accounted for under the equity method of accounting: Entity (1) Property Type Acquired Investment (2) Ownership% Physicians Center MOB Medical Office Building April 2012 $ - 71.9 % Buffalo Crossings Assisted-Living Facility January 2014 493,000 25.0 % $ 493,000 As of December 31, 2015, the Company owns an interest in the following entities that are accounted for under the equity method of accounting: Entity (1) Property Type Acquired Investment (2) Ownership% Physicians Center MOB Medical Office Building April 2012 $ - 71.9 % Buffalo Crossings Assisted-Living Facility January 2014 880,000 25.0 % $ 880,000 (1) These entities are not consolidated because the Company exercises significant influence, but does not control or direct the activities that most significantly impact each entity’s performance. (2) Represents the carrying value of the Company’s investment in each unconsolidated entity. As of December 31, 2016, the Company maintains a 71.9
Schedule of Combined Financial Information For Unconsolidated Entities	Summarized combined financial information for the Company’s unconsolidated entities is as follows: December 31, December 31, 2016 2015 Cash and cash equivalents $ 688,000 $ 279,000 Investments in real estate, net 22,747,000 24,712,000 Other assets 721,000 713,000 Total assets $ 24,156,000 $ 25,704,000 Notes payable, net $ 23,193,000 $ 22,679,000 Accounts payable and accrued liabilities 289,000 285,000 Other liabilities 454,000 49,000 Total stockholders’ equity 220,000 2,691,000 Total liabilities and equity $ 24,156,000 $ 25,704,000 For the year ended December 31, 2016 2015 (1)(2) 2014 (1)(2) Total revenues $ 5,435,000 $ 2,757,000 $ 1,631,000 Net loss (420,000) (1,252,000) (497,000) Company’s equity in loss from unconsolidated entities 163,000 362,000 352,000 (1) On January 28, 2014, through a wholly-owned subsidiary, we acquired a 25 108 (2) As of December 31, 2014, the Company’s initial investment of $ 3.5

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2016
Notes Payable [Abstract]
Summary Of Covenants And Requirements	The following table summarizes the debt terms and our outstanding principal loan balances as of December 31, 2016 and December 31, 2015: Outstanding Outstanding Principal Principal Balance as of Balance as of Property Name Payment Type Interest Rate December 31, 2016 (1) December 31, 2015 (1) Maturity Date Accel at Golden Months 1-36 interest only. Month 37 to maturity principal and interest at a 25-year amortization rate One month LIBOR + 3.00% $ 9,342,000 $ 53,000 15-May-20 Amber Glen Principal and interest at a 30-year amortization rate 6.40% - fixed 8,102,000 8,243,000 1-Jun-19 Armbrook Village Months 1-24 interest only. Month 25 to maturity principal and interest at a 28-year amortization schedule at per annum interest rate of 6.00% One month LIBOR + 2.20% 21,000,000 21,000,000 1-May-20 Carriage Court of Hilliard Principal and interest at a 35-year amortization rate 2.80% - fixed 12,767,000 13,024,000 1-Nov-47 Caruth Haven Court Principal and interest at a 30-year amortization rate 6.43% - fixed 9,122,000 9,273,000 1-Jan-20 Compass on the Bay Principal and interest at a 35-year amortization rate 3.32% - fixed 3,671,000 3,748,000 1-Mar-45 Compass on the Bay 2nd Principal and interest at a 35-year amortization rate 5.65% - fixed 2,629,000 2,666,000 1-Mar-45 Cornerstone Dallas Rehab Principal and interest at a 30-year amortization rate 4.75% - fixed 6,895,000 7,018,000 22-Oct-18 Forestview Manor Principal and interest at a 30-year amortization rate 4.45% - fixed 8,121,000 8,280,000 1-Jul-19 Gables of Hudson (2) Months 1-60 interest only. Month 61 to maturity principal and interest at a 30-year amortization rate One month LIBOR + 2.66% 15,982,000 11,375,000 1-Sep-26 Gables of Kentridge Principal and interest at a 35-year amortization rate 4.41% - fixed 8,871,000 8,992,000 1-May-49 Greentree at Westwood Principal and interest at a 30-year amortization rate 4.45% - fixed 3,577,000 3,647,000 1-Jul-19 Hedgcoxe Health Plaza Principal and interest at a 30-year amortization rate 4.90% - fixed 5,223,000 5,316,000 14-Aug-22 Hudson Creek Principal and interest at a 30-year amortization rate 6.11% - fixed 7,506,000 7,633,000 1-Jun-19 Live Oaks Village of Hammond (3) Months 1-23 interest only. Month 24 to maturity principal and interest at a 30-year amortization rate One month LIBOR + 3.00% 3,727,000 4,550,000 19-Aug-19 Live Oaks Village of Slidell (3) Months 1-23 interest only. Month 24 to maturity principal and interest at a 30-year amortization rate One month LIBOR + 3.00% 2,077,000 3,700,000 19-Aug-19 Mesa Vista Inn Health Center (3) Months 1-23 interest only. Month 24 to maturity principal and interest at a 30-year amortization rate One month LIBOR + 3.00% 8,248,000 10,000,000 19-Aug-19 Mill Creek Principal and interest at a 30-year amortization rate 6.40% - fixed 7,820,000 7,957,000 1-Jun-19 Oakleaf Village Portfolio Principal and interest at a 25-year amortization rate 4.00% - fixed 18,471,000 18,988,000 26-Nov-18 Rome LTACH (4) Principal and interest at a 25-year amortization rate 4.50% - fixed 12,055,000 12,408,000 31-Mar-17 Spring Village at Essex Months 1-24 interest only. Month 25 to maturity principal and interest at a 28-year amortization rate One month LIBOR + 2.95% 8,673,000 - 18-Nov-21 Spring Village at Floral Vale Principal and interest at a 30-year amortization rate 4.45% - fixed 6,016,000 6,133,000 1-Jul-19 Spring Village at Wildewood (2) Months 1-60 interest only. Month 61 to maturity principal and interest at a 30-year amortization rate One month LIBOR + 2.66% 11,272,000 6,410,000 1-Sep-26 Standish Village Months 1-48 interest only. Month 49 to maturity principal and interest at a 30-year amortization rate 5.76% - fixed rate 10,885,000 10,885,000 1-Jan-24 St. Andrews Village Months 1-48 interest only. Month 49 to maturity principal and interest at a 30-year amortization rate Months 1-24 floating rate of one month LIBOR + 3.07%; 4.64% fixed rate for the remaining term 30,205,000 30,205,000 1-Sep-23 Sugar Creek Principal and interest at a 30-year amortization rate 6.20% - fixed 7,341,000 7,468,000 1-Jun-19 Sumter Grand (3) Months 1-23 interest only. Month 24 to maturity principal and interest at a 30-year amortization rate One month LIBOR + 3.00% 19,195,000 19,195,000 19-Aug-19 Sumter Place (2) Months 1-60 interest only. Month 61 to maturity principal and interest at a 30-year amortization rate One month LIBOR + 2.66% 27,325,000 28,860,000 1-Sep-26 Terrace at Mountain Creek Principal and interest at a 30-year amortization rate 4.45% - fixed 8,121,000 8,280,000 1-Jul-19 The Delaney at Georgetown Village Interest only 5.25% - fixed 12,268,000 - 15-Jan-20 The Oaks Bradenton Principal and interest at a 30-year amortization rate 4.45% - fixed 3,790,000 3,864,000 1-Jul-19 The Parkway Months 1-36 interest only. Month 37 to maturity principal and interest at a 20-year amortization rate 3.90% - fixed 17,117,000 16,115,000 5-Jul-19 Woodbury Mews Portfolio (3) Months 1-23 interest only. Month 24 to maturity principal and interest at a 30-year amortization rate One month LIBOR + 3.00% 23,704,000 24,437,000 19-Aug-19 Woodland Terrace at the Oaks Months 1-36 interest only. Month 37 to maturity principal and interest at a 25-year amortization rate 4.87% - fixed 8,995,000 8,995,000 1-Oct-24 $ 370,113,000 $ 338,718,000 Less: Deferred financing costs 3,879,000 3,352,000 Less: Discount 137,000 78,000 Notes payable, net $ 366,097,000 $ 335,288,000 (1) As of December 31, 2016 and 2015, all notes payable are secured by the underlying real estate. (2) On August 19, 2016, this loan was refinanced with KeyBank under Fannie Mae’s Delegated Underwriting and Servicing Product Line discussed above. (3) On August 19, 2016 we entered into a Secured Loan Agreement with KeyBank as a part of a refinancing discussed above. (4) The Company is in the process of refinancing the Rome LTACH debt which matures on March 31, 2017. If we are unable to execute a refinance of the Rome LTACH debt prior to the maturity date, we would pay off the debt with cash on hand as of December 31, 2016
Principal payments due on notes payable	Principal payments due on our notes payable as of December 31, 2016 and each of the five subsequent years are as follows: Year Principal Amount 2017 $ 15,261,000 2018 28,712,000 2019 133,045,000 2020 59,847,000 2021 10,190,000 2022 and thereafter 123,058,000 $ 370,113,000 Less: Deferred financing costs 3,879,000 Less: Discount 137,000 $ 366,097,000

Operating Leases (Tables)

Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2016
Leases, Operating [Abstract]
Schedule of Financing Receivables, Minimum Payments	Future minimum lease payments to be received under non-cancellable operating leases for the triple-net leased properties and medical office building properties for each of the next five years and thereafter, as of December 31, 2016 are as follows: Years ending December 31, Receipt Amount 2017 $ 9,589,000 2018 9,785,000 2019 9,889,000 2020 9,698,000 2021 9,755,000 2022 and thereafter 41,848,000
Schedule of Future Minimum Rental Payments for Operating Leases	The following is a schedule of future minimum lease payments to be paid under the ground leases for each of the next five years and thereafter, as of December 31, 2016: Years ending December 31, Payment Amount 2017 $ 491,000 2018 500,000 2019 510,000 2020 521,000 2021 531,000 2022 and thereafter 13,353,000

Concentration of Risks (Tables)

Concentration of Risks (Tables)	12 Months Ended
	Dec. 31, 2016
Risks and Uncertainties [Abstract]
Geographic risks by operating segment	The following table provides information about our geographic risk related to each of the four states and their economies for the three years ended December 31, 2016: Percentage of Total Revenues State December 31, December 31, December 31, Ohio 12% 12% 7% Florida 11% 11% 2% Massachusetts 12% 11% 9% Texas 10% 9% 12%
Summary of senior living operators	The following table provides information about our senior living operators which accounted for 10% or more of our total revenue for the three years ended December 31, 2016: Percentage of Total Revenues Operators December 31, December 31, December 31, JEA Senior Living 11% 12% 17% Woodbine Senior Living 13% 10% 11% Senior Living Residences 12% 11% 9% 12 Oaks Senior Living 13% 6% 8% Arrow Senior Living 13% 8% 0% KR Management 10% 9% 0%

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Reconciliation of segment activity to consolidated net income (loss)	The following tables reconcile the segment activity to consolidated net income for the years ended December 31, 2016, 2015 and 2014: For the Year Ended December 31, 2016 Triple-net Senior living leased MOB operations properties properties Consolidated Rental revenue $ 81,893,000 $ 8,600,000 $ 846,000 $ 91,339,000 Resident services and fee income 32,971,000 - - 32,971,000 Tenant reimbursements and other income 3,131,000 2,287,000 308,000 5,726,000 117,995,000 10,887,000 1,154,000 130,036,000 Property operating and maintenance expenses 81,518,000 1,155,000 328,000 83,001,000 Net operating income $ 36,477,000 $ 9,732,000 $ 826,000 $ 47,035,000 General and administrative 2,081,000 Asset management fees 3,200,000 Real estate acquisition costs - Depreciation and amortization 16,509,000 Interest expense, net 15,905,000 Change in fair value of contingent consideration (3,138,000) Equity in loss from unconsolidated entities 163,000 Loss on debt extinguishment 378,000 Income tax benefit (1,585,000) Net income 13,522,000 Preferred return to series B preferred OP units and other noncontrolling interests 11,692,000 Net income attributable to common stockholders $ 1,830,000 For the Year Ended December 31, 2015 Triple-net Senior living leased MOB operations properties properties Consolidated Rental revenue $ 69,927,000 $ 9,314,000 $ 853,000 $ 80,094,000 Resident services and fee income 31,415,000 - 1,000 31,416,000 Tenant reimbursements and other income 2,361,000 1,113,000 311,000 3,785,000 103,703,000 10,427,000 1,165,000 115,295,000 Property operating and maintenance expenses 72,851,000 1,127,000 323,000 74,301,000 Net operating income $ 30,852,000 $ 9,300,000 $ 842,000 $ 40,994,000 General and administrative 2,430,000 Asset management fees 5,346,000 Real estate acquisition costs 1,466,000 Depreciation and amortization 19,803,000 Interest expense, net 13,777,000 Change in fair value of contingent consideration 689,000 Equity in loss from unconsolidated entities 362,000 Income tax benefit (3,128,000) Net income 249,000 Preferred return to series B preferred OP units and other noncontrolling interests 9,147,000 Net loss attributable to common stockholders $ (8,898,000) Triple-net Senior living leased MOB operations properties properties Consolidated Rental revenue $ 42,338,000 $ 6,727,000 $ 857,000 $ 49,922,000 Resident services and fee income 28,845,000 - - 28,845,000 Tenant reimbursements and other income 1,606,000 882,000 310,000 2,798,000 72,789,000 7,609,000 1,167,000 81,565,000 Property operating and maintenance expenses 49,592,000 939,000 310,000 50,841,000 Net operating income $ 23,197,000 $ 6,670,000 $ 857,000 $ 30,724,000 General and administrative 1,710,000 Asset management fees 4,135,000 Real estate acquisition costs 2,724,000 Depreciation and amortization 11,793,000 Interest expense, net 9,912,000 Equity in loss from unconsolidated entities 352,000 Income tax benefit (389,000) Net income 487,000 Preferred return to series B preferred OP units and other noncontrolling interests 3,153,000 Net loss attributable to common stockholders $ (2,666,000)
Reconciliation of segment activity to consolidated financial position	The following table reconciles the segment activity to Consolidated Total Assets as of December 31, 2016 and December 31, 2015: December 31, 2016 December 31, 2015 Assets Investment in real estate: Senior living operations $ 410,007,000 $ 389,733,000 Triple-net leased properties 92,112,000 87,432,000 Medical office building properties 7,066,000 7,251,000 Total reportable segments $ 509,185,000 $ 484,416,000 Reconciliation to consolidated assets: Cash and cash equivalents 34,921,000 22,801,000 Investment in unconsolidated entities 493,000 880,000 Tenant and other receivables, net 5,949,000 5,751,000 Deferred costs and other assets 9,973,000 8,636,000 Restricted cash 7,777,000 6,748,000 Goodwill 5,965,000 5,965,000 Total assets $ 574,263,000 $ 535,197,000 Capital expenditures in the senior living operations segment were $ 12.8 109.5 94.8 8.7 5.4 37.1 0.2 0.0 0.0 As of December 31, 2016 and 2015, goodwill had a balance of approximately $ 6.0

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Taxes [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The provision for income taxes related to the operations of the Master TRS for the years ended December 31, 2016, 2015 and 2014 consists of the following: Years Ended December 31, 2016 2015 2014 Current: Federal $ - $ - $ 256,000 State 57,000 132,000 224,000 Total current provision 57,000 132,000 480,000 Deferred: Federal (1,494,000) (2,990,000) (775,000) State (148,000) (270,000) (94,000) Total deferred benefit (1,642,000) (3,260,000) (869,000) Income tax benefit $ (1,585,000) $ (3,128,000) $ (389,000)
Schedule of Deferred Tax Assets and Liabilities	Deferred tax assets and liabilities are included within deferred costs and other assets in the consolidated balance sheet, and are attributed to the activity of the Company’s Master TRS and subsidiaries. The components of the deferred tax assets and liabilities at December 31, 2016 and 2015 were as follows: 2016 2015 Deferred tax assets: Straight-line rent $ 4,791,000 $ 3,335,000 Accrued vacation 189,000 192,000 Tenant receivable reserve 48,000 103,000 Net operating loss 2,352,000 1,846,000 Deferred income 749,000 843,000 Total deferred tax assets 8,129,000 6,319,000 Deferred tax liabilities: Depreciation (474,000) (305,000) Total deferred tax liabilities (474,000) (305,000) Net deferred tax assets: $ 7,655,000 $ 6,014,000

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2016
Stockholders' Equity [Abstract]
Summary of distributions declared	Distributions Declared (1)(2) Distributions Cash Flows from Period Cash Reinvested (3) Total Paid Operations First quarter 2015 $ 1,330,000 $ 85,000 $ 1,415,000 $ 1,354,000 $ 3,348,000 Second quarter 2015 1,347,000 85,000 1,432,000 1,330,000 4,369,000 Third quarter 2015 1,363,000 86,000 1,449,000 1,347,000 5,515,000 Fourth quarter 2015 1,362,000 87,000 1,449,000 1,363,000 5,418,000 $ 5,402,000 $ 343,000 $ 5,745,000 $ 5,394,000 $ 18,650,000 First quarter 2016 $ 1,342,000 $ 89,000 $ 1,431,000 $ 1,362,000 $ 6,871,000 Second quarter 2016 1,343,000 88,000 1,431,000 1,342,000 4,607,000 Third quarter 2016 1,358,000 91,000 1,449,000 1,345,000 7,072,000 Fourth quarter 2016 1,358,000 91,000 1,449,000 1,358,000 6,285,000 $ 5,401,000 $ 359,000 $ 5,760,000 $ 5,407,000 $ 24,835,000 (1) In order to meet the requirements for being treated as a REIT under the Internal Revenue Code, we must pay distributions to our stockholders each taxable year equal to at least 90 (2) This table represents distributions declared and paid to common stockholders for each respective period. These amounts do not include distribution payments to the Series B Preferred Unit holders for the years ended December 31, 2016 and 2015. (3) On June 19, 2013, we filed a registration statement on Form S-3 to register up to $ 99,000,000 10.02 , 11.63 12.45 613,463
Summary of repurchased shares	During the years ended December 31, 2016, 2015 and 2014, we redeemed shares pursuant to our stock repurchase program as follows: Period Total Number of Shares Redeemed Average Price 2014 49,962 $ 11.63 2015 - $ - 2016 - $ -
Tax Treatment Of Distributions	The return of capital for the distributions per share to common stockholders reportable for the years ended December 31, 2016, 2015 and 2014 were as follows: Per Common Shares 2016 2015 2014 Taxable ordinary dividend $ - 0.00 % $ - 0.00 % $ 0.14 27.12 % Return of capital $ 0.50 100.00 % $ 0.50 100.00 % $ 0.36 72.88 % Capital gain $ - 0.00 % $ - 0.00 % $ - 0.00 %

Selected Quarterly Data (unau36

Selected Quarterly Data (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Quarters Ended, June 30, March 31, December 31, 2016 September 30, 2016 2016 2016 Revenues $ 32,875,000 $ 32,569,000 $ 32,778,000 $ 31,814,000 Expenses 25,472,000 25,542,000 27,824,000 25,953,000 Income from operations 7,403,000 7,027,000 4,954,000 5,861,000 Net income 6,922,000 2,958,000 1,264,000 2,378,000 Preferred return to series B preferred OP units and other noncontrolling interests 3,066,000 3,010,000 2,904,000 2,712,000 Net income (loss) attributable to common stockholders $ 3,856,000 $ (52,000) $ (1,640,000) $ (334,000) Net income (loss) per common share attributable to common stockholders- basic and diluted $ 0.33 $ 0.00 $ (0.14) $ (0.03) Weighted average common shares - basic and diluted 11,529,872 11,522,649 11,515,846 11,508,316 Quarters Ended, June 30, March 31, December 31, 2015 September 30, 2015 2015 2015 Revenues $ 31,238,000 $ 29,775,000 $ 28,658,000 $ 25,624,000 Expenses 25,438,000 27,129,000 27,185,000 23,594,000 Income from operations 5,800,000 2,646,000 1,473,000 2,030,000 Net income (loss) 2,991,000 (509,000) (1,498,000) (735,000) Preferred return to series B preferred OP units and other noncontrolling interests 2,518,000 2,447,000 2,243,000 1,939,000 Net income (loss) attributable to common stockholders $ 473,000 $ (2,956,000) $ (3,741,000) $ (2,674,000) Net income (loss) per common share attributable to common stockholders- basic and diluted $ 0.04 $ (0.26) $ (0.33) $ (0.23) Weighted average common shares - basic and diluted 11,500,818 11,493,442 11,486,143 11,478,707

Organization (Details Textual)

Organization (Details Textual)	12 Months Ended
	Dec. 31, 2016
Organization [Line Items]
Percentage of interest owned	57.90%
Sentio Investments, LLC [Member]
Organization [Line Items]
Formation date	December20, 2011
Sentio Healthcare Properties OP, LP [Member]
Organization [Line Items]
Formation date	October 17, 2006
Operating Partnership and the HC Operating Partnership, LP [Member]
Organization [Line Items]
Percentage of interest owned	100.00%

Equity Issuances (Details Textu

Equity Issuances (Details Textual) - USD ($)	Feb. 10, 2013	Dec. 31, 2016	Dec. 31, 2015	Mar. 23, 2016	Feb. 28, 2014	Jun. 30, 2013	Jun. 19, 2013
Common Stock, Shares Authorized		580,000,000	580,000,000
Common Stock, Par Or Stated Value Per Share		$ 0.01	$ 0.01
Preferred Stock, Shares Authorized		20,000,000
Preferred Stock, Par Or Stated Value Per Share		$ 0.01
Sale of Stock, Price Per Share						$ 10	$ 10.02
Stock Issued During Period, Shares, Dividend Reinvestment Plan		642,075	613,463
Common Stock [Member]
Stock Issued During Period, Shares, Dividend Reinvestment Plan		642,075
Proceeds from Issuance of Common Stock, Dividend Reinvestment Plan		$ 6,300,000
IPO [Member]
Sale Of Common Stock		13,300,000
Proceeds from Issuance of Common Stock		$ 132,300,000
Distribution Reinvestment Plan [Member]
Sale of Stock, Price Per Share				$ 12.45	$ 11.63
Dividend Reinvestment Plan [Member]
Stock Value Registered Under Dividend Reinvestment Plan							$ 99,000,000
Series B Preferred Stock [Member]
Proceeds from Issuance of Private Placement	$ 158,600,000
Series C Preferred Stock [Member]
Preferred Stock, Shares Authorized	1,000	1,000	1,000
Preferred Stock, Par Or Stated Value Per Share	$ 0.01	$ 0.01	$ 0.01
Proceeds from Issuance of Private Placement	$ 100,000

Summary of Significant Accoun39

Summary of Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Provision For Doubtful Accounts	$ 162,000	$ 263,000	$ 276,000
Percentage Of Taxable Income From Prohibited Transaction	100.00%
Accounting Standards Update 2015-03 [Member] | Reclassification From Deferred Financing Costs to Related Party Notes Payable [Member]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	$ 3,900,000	$ 3,400,000
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life	5 years
Maximum [Member] | Building Improvements [Member]
Property, Plant and Equipment, Useful Life	39 years
Property, Plant and Equipment, Estimated Useful Lives	39 Years
Maximum [Member] | Furniture, Fixtures And Vehicles [Member]
Property, Plant and Equipment, Estimated Useful Lives	5 years
Maximum [Member] | Tenant Improvements [Member]
Finite-Lived Intangible Asset, Useful Life	5 years
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life	3 years
Minimum [Member] | Building Improvements [Member]
Property, Plant and Equipment, Useful Life	15 years
Property, Plant and Equipment, Estimated Useful Lives	5 Years
Minimum [Member] | Furniture, Fixtures And Vehicles [Member]
Property, Plant and Equipment, Estimated Useful Lives	3 years
Minimum [Member] | Tenant Improvements [Member]
Finite-Lived Intangible Asset, Useful Life	3 years
Series B Preferred Stock [Member]
Investments	$ 158,600,000

Acquisitions (Details)

Acquisitions (Details) - USD ($)		Dec. 31, 2016	Nov. 18, 2016	Dec. 31, 2015
Armbrook Village [Member]
Business Acquisition [Line Items]
Land				$ 957,000
Buildings and improvements				29,689,000
Furniture, fixtures and vehicles				1,401,000
Intangible assets				1,098,000
Intangible liability	[1]			0
Contingent liability	[2]			(3,145,000)
Real estate acquisition				30,000,000
Acquisition expenses				488,000
Gables of Kentridge [Member]
Business Acquisition [Line Items]
Land				640,000
Buildings and improvements				12,939,000
Furniture, fixtures and vehicles				870,000
Intangible assets				921,000
Intangible liability	[1]			0
Contingent liability	[2]			0
Real estate acquisition				15,370,000
Acquisition expenses				267,000
Sumter Grand [Member]
Business Acquisition [Line Items]
Land				0
Buildings and improvements				37,295,000
Furniture, fixtures and vehicles				1,580,000
Intangible assets				0
Intangible liability	[1]			(516,000)
Contingent liability	[2]			(6,859,000)
Real estate acquisition				31,500,000
Acquisition expenses				$ 430,000
Spring Village at Essex [Member]
Business Acquisition [Line Items]
Land		$ 950,000
Buildings and improvements		9,651,000
Furniture, fixtures and vehicles		699,000
Real estate acquisition		$ 11,300,000	$ 11,300,000
[1]	This balance represents the Company’s fair value estimate of the above market ground lease associated with the land in the Sumter Grand acquisition and is recorded in accounts payable and accrued liabilities.
[2]	This balance represents the Company’s fair value estimate of contingent consideration due to the sellers of Armbrook Village and Sumter Grand based on achieving a specified net operating income threshold. The contingent consideration is recorded in accounts payable and accrued liabilities. The contingent consideration related to the Sumter Grand acquisition will expire in August 2018 if the net operating threshold is not achieved. The Company recorded a change in fair value of contingent consideration of $(3.4) million related to the Sumter Grand acquisition and as a result, the estimated fair value of the contingent consideration as of December 31, 2016 is $3.7 million. The contingent consideration related to the Armbrook Village acquisition will expire in April 2018 if the net operating threshold is not achieved. The Company recorded a change in fair value of contingent consideration of $0.2 million related to the Armbrook Village acquisition and as a result, the estimated fair value of the contingent consideration as of December 31, 2016 is $1.7 million.

Acquisitions (Details 1)

Acquisitions (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Revenues	$ 117,809,000	$ 90,421,000
Net loss	$ (6,865,000)	$ (4,248,000)
Basic and diluted net loss per common share attributable to common stockholders	$ (0.60)	$ (0.35)

Acquisitions (Details Textual)

Acquisitions (Details Textual)	Apr. 06, 2015USD ($)	Apr. 02, 2015USD ($)	Feb. 06, 2015USD ($)	Oct. 31, 2014USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Nov. 18, 2016USD ($)	Jul. 31, 2015USD ($)	Jun. 30, 2015	Apr. 30, 2015USD ($)ft²
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross					$ 10,605,000	$ 69,311,000	$ 135,018,000
Revenues						117,809,000	90,421,000
Net loss						(6,865,000)	$ (4,248,000)
Equity Method Investment, Aggregate Cost					493,000	880,000
Land					48,146,000	47,196,000
Sumter Grand [Member]
Business Acquisition [Line Items]
Revenues						3,700,000
Net loss						1,500,000
Contingent Consideration Change In Fair Value Disclosure					(3,400,000)
Contingent Consideration Classified as Equity, Fair Value Disclosure					3,700,000
Gables of Kentridge [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles						15,370,000
Payments to Acquire Businesses, Gross		$ 15,400,000
Revenues						3,300,000
Net loss						1,000,000
Number of units		91
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt		$ 9,100,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt Net of Discount		$ 9,000,000
Armbrook Village [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles						30,000,000
Payments to Acquire Businesses, Gross	$ 30,000,000
Revenues						4,100,000
Net loss						1,300,000
Number of units	46
Additional proceeds payable if certain net operating income thresholds met	$ 3,600,000
Business Acquisition, Percentage of Voting Interests Acquired	95.00%
Contingent Consideration Change In Fair Value Disclosure					200,000
Contingent Consideration Classified as Equity, Fair Value Disclosure					1,700,000
Armbrook Village [Member] | Maximum [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred	$ 33,600,000
Number of units	51
The Parkway [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross				$ 3,500,000
Number of units				142
Business Acquisition, Percentage of Voting Interests Acquired				65.00%						65.00%
Furniture and Fixtures, Gross									$ 600,000
Buildings and Improvements, Gross									20,300,000
Land									$ 1,200,000
O’Reilly Development Company [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross				$ 1,500,000
Business Acquisition, Percentage of Voting Interests Acquired				32.50%
Project Cost				$ 22,400,000
Equity Method Investment, Aggregate Cost				$ 3,500,000
Golden [Member]
Business Acquisition [Line Items]
Equity Method Investment, Aggregate Cost					16,000,000
Construction in Progress, Gross					13,900,000
Area of Land | ft²											112,500
Contractual Obligation, Total											$ 18,500,000
Payments to Acquire Land					2,100,000
Slr Joint Venture [Member]
Business Acquisition [Line Items]
Number of units	21
Sumter Grand [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles						$ 31,500,000
Payments to Acquire Businesses, Gross			$ 31,500,000
Number of units			150					50
Additional proceeds payable if certain net operating income thresholds met			$ 8,500,000
Sumter Grand [Member] | Maximum [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross			$ 40,000,000
Spring Village at Essex [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles					$ 11,300,000			$ 11,300,000
Business Acquisition, Transaction Costs								$ 200,000

Real Estate Note Receivable (De

Real Estate Note Receivable (Details Textual) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Jan. 16, 2015
Interest Income, Other		$ 2.1	$ 0.4
Georgetown Loan [Member]
Debt Instrument, Face Amount				$ 41.9
Debt Instrument, Interest Rate, Stated Percentage		7.90%
Loan Origination Fee Percent		1.00%
Debt Instrument, Maturity Date, Description	on January 15, 2020 with one 12-month option to extend at the Companys option
Secured Debt		$ 7.7
Loans Receivable		$ 34.2

Investments in Real Estate (Det

Investments in Real Estate (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Cost and accumulated depreciation and amortization related to real estate assets and related lease intangibles
Net	$ 475,004,000	$ 468,989,000
Land [Member]
Cost and accumulated depreciation and amortization related to real estate assets and related lease intangibles
Cost	48,146,000	47,196,000
Accumulated depreciation and amortization	0	0
Net	48,146,000	47,196,000
Buildings and Improvements [Member]
Cost and accumulated depreciation and amortization related to real estate assets and related lease intangibles
Cost	440,985,000	429,945,000
Accumulated depreciation and amortization	(45,485,000)	(32,711,000)
Net	395,500,000	397,234,000
Furniture, Fixtures and Vehicles [Member]
Cost and accumulated depreciation and amortization related to real estate assets and related lease intangibles
Cost	20,579,000	18,746,000
Accumulated depreciation and amortization	(7,987,000)	(6,086,000)
Net	12,592,000	12,660,000
Construction in Progress [Member]
Cost and accumulated depreciation and amortization related to real estate assets and related lease intangibles
Cost	13,933,000	5,168,000
Accumulated depreciation and amortization	0	0
Net	13,933,000	5,168,000
Intangible Lease Assets [Member]
Cost and accumulated depreciation and amortization related to real estate assets and related lease intangibles
Cost	28,739,000	28,737,000
Accumulated depreciation and amortization	(23,906,000)	(22,006,000)
Net	$ 4,833,000	$ 6,731,000

Investments in Real Estate (D45

Investments in Real Estate (Details 1)	Dec. 31, 2016USD ($)
Estimated amortization
2,017	$ 389,000
2,018	388,000
2,019	295,000
2,020	295,000
2,021	290,000
2022 and thereafter	3,176,000
Intangible Assets	$ 4,833,000

Investments in Real Estate (D46

Investments in Real Estate (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Real Estate Accumulated Depreciation, Depreciation Expense	$ 14.7	$ 13.6	$ 8.2
Finite-Lived Intangible Assets, Remaining Amortization Period	17 years
Amortization associated with the intangible assets	$ 1.8	$ 6.2	$ 3.6
Minimum [Member]
Property, Plant and Equipment [Line Items]
Finite-Lived Intangible Asset, Useful Life	3 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Finite-Lived Intangible Asset, Useful Life	5 years

Investments in Unconsolidated47

Investments in Unconsolidated Entities (Details) - USD ($)		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015
Investment	[1],[2]	$ 493,000	$ 880,000
Physicians Center MOB [Member]
Ownership		71.90%
Physicians Center MOB [Member] | Medical Office Building [Member]
Acquired	[2]	Apr. 30, 2012	Apr. 30, 2012
Investment	[1],[2]	$ 0	$ 0
Ownership	[2]	71.90%	71.90%
Buffalo Crossing [Member] | Assisted-Living Facility [Member]
Acquired	[2]	Jan. 31, 2014	Jan. 31, 2014
Investment	[1],[2]	$ 493,000	$ 880,000
Ownership	[2]	25.00%	25.00%
[1]	Represents the carrying value of the Company’s investment in each unconsolidated entity. As of December 31, 2016, the Company maintains a 71.9% ownership in Physicians Center MOB. The distributions and allocation of loss since the date of our initial investment has rendered our carrying value to zero.
[2]	These entities are not consolidated because the Company exercises significant influence, but does not control or direct the activities that most significantly impact each entity’s performance.

Investments in Unconsolidated48

Investments in Unconsolidated Entities (Details 1) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Equity Method Investment, Summarized Financial Information, Assets	$ 24,156,000	$ 25,704,000
Equity Method Investment Summarized Financial Information, Equity	220,000	2,691,000
Equity Method Investment, Summarized Financial Information, Liabilities and Equity	24,156,000	25,704,000
Cash and Cash Equivalents [Member]
Equity Method Investment, Summarized Financial Information, Assets	688,000	279,000
Investments In Real Estate Net [Member]
Equity Method Investment, Summarized Financial Information, Assets	22,747,000	24,712,000
Other Assets [Member]
Equity Method Investment, Summarized Financial Information, Assets	721,000	713,000
Notes Payable Net [Member]
Equity Method Investment, Summarized Financial Information, Liabilities	23,193,000	22,679,000
Accounts Payable and Accrued Liabilities [Member]
Equity Method Investment, Summarized Financial Information, Liabilities	289,000	285,000
Other Liabilities [Member]
Equity Method Investment, Summarized Financial Information, Liabilities	$ 454,000	$ 49,000

Investments in Unconsolidated49

Investments in Unconsolidated Entities (Details 2) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	[1],[2]	Dec. 31, 2014	[1],[2]
Total revenues	$ 5,435,000	$ 2,757,000		$ 1,631,000
Net loss	(420,000)	(1,252,000)		(497,000)
Company’s equity in loss from unconsolidated entities	$ 163,000	$ 362,000		$ 352,000
[1]	As of December 31, 2014, the Company’s initial investment of $3.5 million in The Parkway was accounted for as an equity method investment. As of June 30, 2015, the Company began consolidating The Parkway and as a result, it is no longer accounted for under the equity method of accounting. See Note 4.
[2]	On January 28, 2014, through a wholly-owned subsidiary, we acquired a 25% interest in a joint venture entity that has developed Buffalo Crossings, a 108-unit, assisted living community and began operations in May 2015. Buffalo Crossings was accounted for under the entity method of accounting beginning with the first quarter of 2014.

Investments in Unconsolidated50

Investments in Unconsolidated Entities (Details Textual) - USD ($)		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Jan. 28, 2014
Equity Method Investments	[1],[2]	$ 493,000	$ 880,000
Physicians Center MOB [Member]
Equity Method Investment, Ownership Percentage		71.90%
The Parkway [Member]
Equity Method Investments				$ 3,500,000
Buffalo Crossings [Member]
Equity Method Investment, Ownership Percentage					25.00%
Number of units					108
[1]	Represents the carrying value of the Company’s investment in each unconsolidated entity. As of December 31, 2016, the Company maintains a 71.9% ownership in Physicians Center MOB. The distributions and allocation of loss since the date of our initial investment has rendered our carrying value to zero.
[2]	These entities are not consolidated because the Company exercises significant influence, but does not control or direct the activities that most significantly impact each entity’s performance.

Notes Payable (Details)

Notes Payable (Details) - USD ($)		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015
Principal Amount	[1]	$ 370,113,000	$ 338,718,000
Less: Deferred financing costs	[1]	3,879,000	3,352,000
Less: Discount	[1]	137,000	78,000
Notes payable, net	[1]	$ 366,097,000	335,288,000
Accel at Golden [Member]
Payment Type		Months 1-36 interest only. Month 37 to maturity principal and interest at a 25-year amortization rate
Interest-Rate		One month LIBOR + 3.00%
Maturity Date		May 15, 2020
Principal Amount	[1]	$ 9,342,000	53,000
Amber Glen [Member]
Payment Type		Principal and interest at a 30-year amortization rate
Interest-Rate		6.40% - fixed
Maturity Date		Jan. 1, 2019
Principal Amount	[1]	$ 8,102,000	8,243,000
Armbrook Village [Member]
Payment Type		Months 1-24 interest only. Month 25 to maturity principal and interest at a 28-year amortization schedule at per annum interest rate of 6.00%
Interest-Rate		One month LIBOR + 2.20%
Maturity Date		May 1, 2020
Principal Amount	[1]	$ 21,000,000	21,000,000
Carriage Court Of Hilliard [Member]
Payment Type		Principal and interest at a 35-year amortization rate
Interest-Rate		2.80% - fixed
Maturity Date		Nov. 1, 2047
Principal Amount	[1]	$ 12,767,000	13,024,000
Caruth Haven Court [Member]
Payment Type		Principal and interest at a 30-year amortization rate
Interest-Rate		6.43% - fixed
Maturity Date		Jan. 1, 2020
Principal Amount	[1]	$ 9,122,000	9,273,000
Compass on the Bay [Member]
Payment Type		Principal and interest at a 35-year amortization rate
Interest-Rate		3.32% - fixed
Maturity Date		Mar. 1, 2045
Principal Amount	[1]	$ 3,671,000	3,748,000
Compass on the Bay 2nd [Member]
Payment Type		Principal and interest at a 35-year amortization rate
Interest-Rate		5.65% - fixed
Maturity Date		Mar. 1, 2045
Principal Amount	[1]	$ 2,629,000	2,666,000
Cornerstone Dallas Rehab [Member]
Payment Type		Principal and interest at a 30-year amortization rate
Interest-Rate		4.75% - fixed
Maturity Date		Oct. 22, 2018
Principal Amount	[1]	$ 6,895,000	7,018,000
Forestview Manor [Member]
Payment Type		Principal and interest at a 30-year amortization rate
Interest-Rate		4.45% - fixed
Maturity Date		Jul. 1, 2019
Principal Amount	[1]	$ 8,121,000	8,280,000
Gables of Hudson [Member]
Payment Type	[2]	Months 1-60 interest only. Month 61 to maturity principal and interest at a 30-year amortization rate
Interest-Rate	[2]	One month LIBOR + 2.66%
Maturity Date	[2]	Sep. 1, 2026
Principal Amount	[1],[2]	$ 15,982,000	11,375,000
Gables of Kentridge [Member]
Payment Type		Principal and interest at a 35-year amortization rate
Interest-Rate		4.41% - fixed
Maturity Date		May 1, 2049
Principal Amount	[1]	$ 8,871,000	8,992,000
Greentree at Westwood [Member]
Payment Type		Principal and interest at a 30-year amortization rate
Interest-Rate		4.45% - fixed
Maturity Date		Jul. 1, 2019
Principal Amount	[1]	$ 3,577,000	3,647,000
Hedgcoxe Health Plaza [Member]
Payment Type		Principal and interest at a 30-year amortization rate
Interest-Rate		4.90% - fixed
Maturity Date		Aug. 14, 2022
Principal Amount	[1]	$ 5,223,000	5,316,000
Live Oaks Village of Hammond [Member]
Payment Type		Months 1-23 interest only. Month 24 to maturity principal and interest at a 30-year amortization rate
Interest-Rate		One month LIBOR + 3.00%
Maturity Date	[3]	Aug. 19, 2019
Principal Amount	[1]	$ 3,727,000	4,550,000
Hudson Creek [Member]
Payment Type		Principal and interest at a 30-year amortization rate
Interest-Rate		6.11% - fixed
Maturity Date		Jun. 1, 2019
Principal Amount	[1]	$ 7,506,000	7,633,000
Live Oaks Village of Slidell [Member]
Payment Type	[3]	Months 1-23 interest only. Month 24 to maturity principal and interest at a 30-year amortization rate
Interest-Rate	[3]	One month LIBOR + 3.00%
Maturity Date	[3]	Aug. 19, 2019
Principal Amount	[1],[3]	$ 2,077,000	3,700,000
Mesa Vista Inn Health Center [Member]
Payment Type		Months 1-23 interest only. Month 24 to maturity principal and interest at a 30-year amortization rate
Interest-Rate		One month LIBOR + 3.00%
Maturity Date	[3]	Aug. 19, 2019
Principal Amount	[1]	$ 8,248,000	10,000,000
Mill Creek [Member]
Payment Type		Principal and interest at a 30-year amortization rate
Interest-Rate		6.40% - fixed
Maturity Date		Jun. 1, 2019
Principal Amount	[1]	$ 7,820,000	7,957,000
Oakleaf Village Portfolio [Member]
Payment Type		Principal and interest at a 25-year amortization rate
Interest-Rate		4.00% - fixed
Maturity Date		Nov. 26, 2018
Principal Amount	[1]	$ 18,471,000	18,988,000
Rome LTACH [Member]
Payment Type	[4]	Principal and interest at a 25-year amortization rate
Interest-Rate	[4]	4.50% - fixed
Maturity Date	[4]	Mar. 31, 2017
Principal Amount	[1],[4]	$ 12,055,000	12,408,000
Spring Village at Essex [Member]
Payment Type		Months 1-24 interest only. Month 25 to maturity principal and interest at a 28-year amortization rate
Interest-Rate		One month LIBOR + 2.95%
Maturity Date		Nov. 18, 2021
Principal Amount	[1]	$ 8,673,000	0
Spring Village at Floral Vale [Member]
Payment Type		Principal and interest at a 30-year amortization rate
Interest-Rate		4.45% - fixed
Maturity Date		Jul. 1, 2019
Principal Amount	[1]	$ 6,016,000	6,133,000
Spring Village at Wildewood [Member]
Payment Type	[2]	Months 1-60 interest only. Month 61 to maturity principal and interest at a 30-year amortization rate
Interest-Rate	[2]	One month LIBOR + 2.66%
Maturity Date	[2]	Sep. 1, 2026
Principal Amount	[1],[2]	$ 11,272,000	6,410,000
Standish Village [Member]
Payment Type		Months 1-48 interest only. Month 49 to maturity principal and interest at a 30-year amortization rate
Interest-Rate		5.76% - fixed rate
Maturity Date		Jan. 1, 2024
Principal Amount	[1]	$ 10,885,000	10,885,000
St. Andrews Village [Member]
Payment Type		Months 1-48 interest only. Month 49 to maturity principal and interest at a 30-year amortization rate
Interest-Rate		Months 1-24 floating rate of one month LIBOR + 3.07%; 4.64% fixed rate for the remaining term
Maturity Date		Sep. 1, 2023
Principal Amount	[1]	$ 30,205,000	30,205,000
Sugar Creek [Member]
Payment Type		Principal and interest at a 30-year amortization rate
Interest-Rate		6.20% - fixed
Maturity Date		Jun. 1, 2019
Principal Amount	[1]	$ 7,341,000	7,468,000
Sumter Grand [Member]
Payment Type	[3]	Months 1-23 interest only. Month 24 to maturity principal and interest at a 30-year amortization rate
Interest-Rate	[3]	One month LIBOR + 3.00%
Maturity Date	[3]	Aug. 19, 2019
Principal Amount	[1],[3]	$ 19,195,000	19,195,000
Sumter Place [Member]
Payment Type	[2]	Months 1-60 interest only. Month 61 to maturity principal and interest at a 30-year amortization rate
Interest-Rate	[2]	One month LIBOR + 2.66%
Maturity Date	[2]	Sep. 1, 2026
Principal Amount	[1],[2]	$ 27,325,000	28,860,000
Terrace At Mountain Creek [Member]
Payment Type		Principal and interest at a 30-year amortization rate
Interest-Rate		4.45% - fixed
Maturity Date		Jul. 1, 2019
Principal Amount	[1]	$ 8,121,000	8,280,000
The Delaney at Georgetown Village [Member]
Payment Type		Interest only
Interest-Rate		5.25% - fixed
Maturity Date		Jan. 15, 2020
Principal Amount	[1]	$ 12,268,000	0
The Oaks Bradenton [Member]
Payment Type		Principal and interest at a 30-year amortization rate
Interest-Rate		4.45% - fixed
Maturity Date		Jul. 1, 2019
Principal Amount	[1]	$ 3,790,000	3,864,000
The Parkway [Member]
Payment Type		Months 1-36 interest only. Month 37 to maturity principal and interest at a 20-year amortization rate
Interest-Rate		3.90% - fixed
Maturity Date		Jul. 5, 2019
Principal Amount	[1]	$ 17,117,000	16,115,000
Woodbury Mews Portfolio [Member]
Payment Type	[3]	Months 1-23 interest only. Month 24 to maturity principal and interest at a 30-year amortization rate
Interest-Rate	[3]	One month LIBOR + 3.00%
Maturity Date	[3]	Aug. 19, 2019
Principal Amount	[1],[3]	$ 23,704,000	24,437,000
Woodland Terrace at the Oaks [Member]
Payment Type		Months 1-36 interest only. Month 37 to maturity principal and interest at a 25-year amortization rate
Interest-Rate		4.87% - fixed
Maturity Date		Oct. 1, 2024
Principal Amount	[1]	$ 8,995,000	$ 8,995,000
[1]	As of December 31, 2016 and 2015, all notes payable are secured by the underlying real estate.
[2]	On August 19, 2016, this loan was refinanced with KeyBank under Fannie Mae’s Delegated Underwriting and Servicing Product Line discussed above.
[3]	On August 19, 2016 we entered into a Secured Loan Agreement with KeyBank as a part of a refinancing discussed above.
[4]	The Company is in the process of refinancing the Rome LTACH debt which matures on March 31, 2017. If we are unable to execute a refinance of the Rome LTACH debt prior to the maturity date, we would pay off the debt with cash on hand as of December 31, 2016.

Notes Payable (Details 1)

Notes Payable (Details 1) - USD ($)		Dec. 31, 2016	Dec. 31, 2015
Principal payments due on notes payable
Principal amount	[1]	$ 370,113,000	$ 338,718,000
Less: Deferred financing costs	[1]	3,879,000	3,352,000
Less: Discount	[1]	137,000	78,000
Notes payable	[1]	366,097,000	$ 335,288,000
2017 [Member]
Principal payments due on notes payable
Principal amount		15,261,000
2018 [Member]
Principal payments due on notes payable
Principal amount		28,712,000
2019 [Member]
Principal payments due on notes payable
Principal amount		133,045,000
2020 [Member]
Principal payments due on notes payable
Principal amount		59,847,000
2021 [Member]
Principal payments due on notes payable
Principal amount		10,190,000
2022 and thereafter [Member]
Principal payments due on notes payable
Principal amount		$ 123,058,000
[1]	As of December 31, 2016 and 2015, all notes payable are secured by the underlying real estate.

Notes Payable (Details Textual)

Notes Payable (Details Textual) - USD ($)

May 15, 2015

Apr. 06, 2015

Apr. 02, 2015

Nov. 18, 2016

Aug. 31, 2016

Aug. 19, 2016

Jun. 30, 2015

Feb. 06, 2015

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Oct. 31, 2014

Notes Payable (Additional Textual) [Abstract]

Notes payable

[1]

$ 366,097,000

$ 335,288,000

Fixed rate debt

$ 219,600,000

Fixed rate debt, notes payable

59.00%

Variable rate debt

$ 150,500,000

Variable rate debt, notes payable

41.00%

Fixed and variable rate secured mortgage loans with average effective interest rate

4.22%

4.02%

Fixed rate debt, weighted average interest rate

4.78%

Variable rate debt, weighted average interest rate

3.41%

Notes Payable Carrying Value

[1]

$ 370,113,000

$ 338,718,000

Payments Of Financing Costs

1,865,000

552,000

$ 1,961,000

Loss on Extinguishment of Debt

378,000

$ 0

$ 0

Red Capital Partners, LLC [Member]

Notes Payable (Additional Textual) [Abstract]

Debt Instrument, Interest Rate, Stated Percentage

5.25%

Debt Instrument, Face Amount

$ 20,000,000

Debt Instrument, Maturity Date

Jan. 15, 2020

Debt Instrument, Fee

one-year extension available upon payment of a fee equal to 0.5% of the Red Capital Loan amount

Debt Instrument, Extension Term

1 year

Payments Of Financing Costs

$ 200,000

Proceeds from Issuance of Debt

12,300,000

Gables of Kentridge [Member]

Notes Payable (Additional Textual) [Abstract]

Notes payable

$ 9,000,000

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt

$ 9,100,000

Debt Instrument, Interest Rate, Stated Percentage

4.41%

Debt Instrument, Term

35 years

The Parkway [Member]

Notes Payable (Additional Textual) [Abstract]

Business Acquisition, Percentage of Voting Interests Acquired

65.00%

65.00%

KeyBank National Association, Inc [Member]

Notes Payable (Additional Textual) [Abstract]

Debt Instrument, Term

10 years

Debt Instrument, Interest Rate Terms

bear interest at a variable rate of one-month LIBOR plus 2.66%

Debt Instrument, Face Amount

$ 54,600,000

Percentage Of Prepayment Interest

1.00%

Payments Of Financing Costs

$ 1,800,000

KeyBank [Member]

Notes Payable (Additional Textual) [Abstract]

Debt Instrument, Term

3 years

Debt Instrument, Interest Rate Terms

bears interest at a rate of one-month LIBOR plus 3.0%

one month LIBOR plus 3.15%

Loan Amortization Period

30 years

Debt Instrument, Face Amount

$ 62,100,000

$ 53,200,000

Debt Instrument, Fee

with a one-year extension fee available upon payment of an extension equal to 0.25% of the loan amount.

Notes Payable Carrying Value

$ 57,000,000

$ 28,900,000

Percentage Of Guarantees Of Repayment Of Outstanding Loan Balance

30.00%

Debt Instrument Commitment Fee Amount

$ 698,000

Payments Of Financing Costs

$ 1,100,000

Sumter Grand [Member] | KeyBank secured loan [Member]

Notes Payable (Additional Textual) [Abstract]

Debt Instrument, Interest Rate Terms

one-month LIBOR plus 3.15%

Secured Debt

$ 19,200,000

M&T Bank [Member]

Notes Payable (Additional Textual) [Abstract]

Debt Instrument Interest Rate Fixed Rate

6.00%

4.50%

Debt Instrument, Interest Rate Terms

one month LIBOR plus 2.20%

one month LIBOR plus 2.95%

Loan Amortization Period

28 years

28 years

Debt Instrument, Face Amount

$ 21,000,000

$ 8,700,000

Debt Instrument, Maturity Date

May 1, 2020

Nov. 18, 2021

Springfield First Community Bank [Member] | The Parkway [Member]

Notes Payable (Additional Textual) [Abstract]

Debt Instrument Interest Rate Fixed Rate

3.90%

Secured Debt

17,100,000

Loan Amortization Period

20 years

Debt Instrument, Face Amount

$ 17,300,000

Synovus Bank [Member]

Notes Payable (Additional Textual) [Abstract]

Notes payable

$ 11,300,000

Debt Instrument Interest Rate Fixed Rate

3.25%

Debt Instrument, Interest Rate Terms

one-month LIBOR plus 3.0%

Secured Debt

$ 9,300,000

Loan Amortization Period

25 years

Maximum [Member]

Notes Payable (Additional Textual) [Abstract]

Fixed rate debt, notes payable

6.43%

6.43%

Minimum [Member]

Notes Payable (Additional Textual) [Abstract]

Fixed rate debt, notes payable

2.80%

2.45%

[1]

As of December 31, 2016 and 2015, all notes payable are secured by the underlying real estate.

Operating Leases (Details)

Operating Leases (Details)	Dec. 31, 2016USD ($)
Leases Operating [Line Items]
2,017	$ 9,589,000
2,018	9,785,000
2,019	9,889,000
2,020	9,698,000
2,021	9,755,000
2022 and thereafter	$ 41,848,000

Operating Leases (Details 1)

Operating Leases (Details 1)	Dec. 31, 2016USD ($)
Leases Operating [Line Items]
2,017	$ 491,000
2,018	500,000
2,019	510,000
2,020	521,000
2,021	531,000
2022 and thereafter	$ 13,353,000

Operating Leases (Details Textu

Operating Leases (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Leases Operating [Line Items]
Operating Leases, Rent Expense	$ 0.5	$ 0.3	$ 0

Concentration of Risks (Details

Concentration of Risks (Details) - Sales Revenue, Net [Member]	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Ohio [Member]
Concentration Risk, Percentage	12.00%	12.00%	7.00%
Florida [Member]
Concentration Risk, Percentage	11.00%	11.00%	2.00%
Massachusetts [Member]
Concentration Risk, Percentage	12.00%	11.00%	9.00%
Texas [Member]
Concentration Risk, Percentage	10.00%	9.00%	12.00%

Concentration of Risks (Detai58

Concentration of Risks (Details 1) - Sales Revenue, Net [Member]	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
JEA Senior Living [Member]
Concentration Risk, Percentage	11.00%	12.00%	17.00%
Woodbine Senior Living [Member]
Concentration Risk, Percentage	13.00%	10.00%	11.00%
Senior Living Residences [Member]
Concentration Risk, Percentage	12.00%	11.00%	9.00%
12 Oaks Senior Living [Member]
Concentration Risk, Percentage	13.00%	6.00%	8.00%
Arrow Senior Living [Member]
Concentration Risk, Percentage	13.00%	8.00%	0.00%
KR Management [Member]
Concentration Risk, Percentage	10.00%	9.00%	0.00%

Concentration of Risks (Detai59

Concentration of Risks (Details Textual)	12 Months Ended
	Dec. 31, 2016
Senior Living Segment [Member] | Sales Revenue, Net [Member]
Concentration Of Risks Textual [Abstract]
Concentration Risk, Percentage	91.00%
Medical Office Building [Member]
Concentration Of Risks Textual [Abstract]
Number of Real Estate Properties	15

Segment Reporting (Details)

Segment Reporting (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015		Dec. 31, 2014
Reconciliation of segment activity to consolidated net income
Rental revenue									$ 91,339,000	$ 80,094,000		$ 49,922,000
Resident services and fee income									32,971,000	31,416,000		28,845,000
Tenant reimbursements and other income									5,726,000	3,785,000		2,798,000
Total revenues	$ 32,875,000	$ 32,569,000	$ 32,778,000	$ 31,814,000	$ 31,238,000	$ 29,775,000	$ 28,658,000	$ 25,624,000	130,036,000	115,295,000		81,565,000
Property operating and maintenance expenses									83,001,000	74,301,000		50,841,000
Net operating income									47,035,000	40,994,000		30,724,000
General and administrative									2,081,000	2,430,000		1,710,000
Asset management fees									3,200,000	5,346,000		4,135,000
Real estate acquisition costs									0	1,466,000		2,724,000
Depreciation and amortization									16,509,000	19,803,000		11,793,000
Interest expense, net									15,905,000	13,777,000		9,912,000
Change in fair value of contingent consideration									(3,138,000)	689,000		0
Equity in loss from unconsolidated entities									163,000	362,000	[1],[2]	352,000	[1],[2]
Loss on debt extinguishment									378,000	0		0
Income tax benefit									(1,585,000)	(3,128,000)		(389,000)
Net income (loss)	6,922,000	2,958,000	1,264,000	2,378,000	2,991,000	(509,000)	(1,498,000)	(735,000)	13,522,000	249,000		487,000
Preferred return to series B preferred OP units and other noncontrolling interests									11,692,000	9,147,000		3,153,000
Net loss attributable to common stockholders	$ 3,856,000	$ (52,000)	$ (1,640,000)	$ (334,000)	$ 473,000	$ (2,956,000)	$ (3,741,000)	$ (2,674,000)	1,830,000	(8,898,000)		(2,666,000)
Senior living operations [Member]
Reconciliation of segment activity to consolidated net income
Rental revenue									81,893,000	69,927,000		42,338,000
Resident services and fee income									32,971,000	31,415,000		28,845,000
Tenant reimbursements and other income									3,131,000	2,361,000		1,606,000
Total revenues									117,995,000	103,703,000		72,789,000
Property operating and maintenance expenses									81,518,000	72,851,000		49,592,000
Net operating income									36,477,000	30,852,000		23,197,000
Triple-net leased properties [Member]
Reconciliation of segment activity to consolidated net income
Rental revenue									8,600,000	9,314,000		6,727,000
Resident services and fee income									0	0		0
Tenant reimbursements and other income									2,287,000	1,113,000		882,000
Total revenues									10,887,000	10,427,000		7,609,000
Property operating and maintenance expenses									1,155,000	1,127,000		939,000
Net operating income									9,732,000	9,300,000		6,670,000
MOB [Member]
Reconciliation of segment activity to consolidated net income
Rental revenue									846,000	853,000		857,000
Resident services and fee income									0	1,000		0
Tenant reimbursements and other income									308,000	311,000		310,000
Total revenues									1,154,000	1,165,000		1,167,000
Property operating and maintenance expenses									328,000	323,000		310,000
Net operating income									$ 826,000	$ 842,000		$ 857,000
[1]	As of December 31, 2014, the Company’s initial investment of $3.5 million in The Parkway was accounted for as an equity method investment. As of June 30, 2015, the Company began consolidating The Parkway and as a result, it is no longer accounted for under the equity method of accounting. See Note 4.
[2]	On January 28, 2014, through a wholly-owned subsidiary, we acquired a 25% interest in a joint venture entity that has developed Buffalo Crossings, a 108-unit, assisted living community and began operations in May 2015. Buffalo Crossings was accounted for under the entity method of accounting beginning with the first quarter of 2014.

Segment Reporting (Details 1)

Segment Reporting (Details 1) - USD ($)	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Investment in real estate:
Total reportable segments	$ 509,185,000	$ 484,416,000
Reconciliation to consolidated assets:
Cash and cash equivalents	34,921,000	22,801,000	$ 35,564,000	$ 21,792,000
Investment in unconsolidated entities	493,000	880,000
Tenant and other receivables, net	5,949,000	5,751,000
Deferred costs and other assets	9,973,000	8,636,000
Restricted cash	7,777,000	6,748,000
Goodwill	5,965,000	5,965,000
Total assets	574,263,000	535,197,000
Senior living operations [Member]
Investment in real estate:
Total reportable segments	410,007,000	389,733,000
Reconciliation to consolidated assets:
Goodwill	6,000,000	6,000,000
Triple-net leased properties [Member]
Investment in real estate:
Total reportable segments	92,112,000	87,432,000
MOB [Member]
Investment in real estate:
Total reportable segments	$ 7,066,000	$ 7,251,000

Segment Reporting (Details Text

Segment Reporting (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Goodwill	$ 5,965,000	$ 5,965,000
Senior living operations [Member]
Segment Reporting Information [Line Items]
Goodwill	6,000,000	6,000,000
Payments to Acquire Productive Assets	12,800,000	109,500,000	$ 94,800,000
Triplenet Leased Segment [Member]
Segment Reporting Information [Line Items]
Payments to Acquire Productive Assets	8,700,000	5,400,000	37,100,000
MOB [Member]
Segment Reporting Information [Line Items]
Payments to Acquire Productive Assets	$ 200,000	$ 0	$ 0

Fair Value Measurements (Detail

Fair Value Measurements (Details Textual) - USD ($)		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015
Notes Payable carrying Value	[1]	$ 370,113,000	$ 338,718,000
Notes Payable net of discount and prmium	[1]	366,097,000	335,288,000
Income From Earnout Liability Derecognized		3,100,000
Reserve for Earn-out Receivable [Member]
Business Combination, Consideration Transferred		1,800,000
Sumter Grand [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other		5,400,000
Liabilities, Fair Value Adjustment		$ (3,100,000)
Sumter Grand [Member] | Minimum [Member]
Change In Fair Value of Liabilities Discount Rate Percentage		9.00%
Sumter Grand [Member] | Maximum [Member]
Change In Fair Value of Liabilities Discount Rate Percentage		12.00%
Hudson Earnout [Member]
Business Combination, Consideration Transferred		$ 2,200,000
Fair Value, Inputs, Level 2 [Member]
Notes Payable carrying Value		$ 369,200,000	$ 337,900,000
[1]	As of December 31, 2016 and 2015, all notes payable are secured by the underlying real estate.

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current:
Federal	$ 0	$ 0	$ 256,000
State	57,000	132,000	224,000
Total current provision	57,000	132,000	480,000
Deferred:
Federal	(1,494,000)	(2,990,000)	(775,000)
State	(148,000)	(270,000)	(94,000)
Total deferred benefit	(1,642,000)	(3,260,000)	(869,000)
Income tax benefit	$ (1,585,000)	$ (3,128,000)	$ (389,000)

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets:
Straight-line rent	$ 4,791,000	$ 3,335,000
Accrued vacation	189,000	192,000
Tenant receivable reserve	48,000	103,000
Net operating loss	2,352,000	1,846,000
Deferred income	749,000	843,000
Total deferred tax assets	8,129,000	6,319,000
Deferred tax liabilities:
Depreciation	(474,000)	(305,000)
Total deferred tax liabilities	(474,000)	(305,000)
Net deferred tax assets:	$ 7,655,000	$ 6,014,000

Income Taxes (Details Textual)

Income Taxes (Details Textual) $ in Millions	Dec. 31, 2016USD ($)
Federal Statutory Authority [Member]
Operating Loss Carryforwards	$ 2.4

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)		3 Months Ended								12 Months Ended
		Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Summary of distributions declared
Cash Flow From Operations		$ 6,285,000	$ 7,072,000	$ 4,607,000	$ 6,871,000	$ 5,418,000	$ 5,515,000	$ 4,369,000	$ 3,348,000	$ 24,835,000	$ 18,650,000
Common Stock [Member]
Summary of distributions declared
Distributions Declared, Cash	[1],[2]	1,358,000	1,358,000	1,343,000	1,342,000	1,362,000	1,363,000	1,347,000	1,330,000	5,401,000	5,402,000
Distributions Declared, Reinvested	[1],[2],[3]	91,000	91,000	88,000	89,000	87,000	86,000	85,000	85,000	359,000	343,000
Distributions Declared, Total	[1],[2]	1,449,000	1,449,000	1,431,000	1,431,000	1,449,000	1,449,000	1,432,000	1,415,000	5,760,000	5,745,000
Distributions Paid		$ 1,358,000	$ 1,345,000	$ 1,342,000	$ 1,362,000	$ 1,363,000	$ 1,347,000	$ 1,330,000	$ 1,354,000	$ 5,407,000	$ 5,394,000
[1]	In order to meet the requirements for being treated as a REIT under the Internal Revenue Code, we must pay distributions to our stockholders each taxable year equal to at least 90% of our net ordinary taxable income. Some of our distributions have been paid from sources other than operating cash flow, such as offering proceeds. Until proceeds from equity issuances are fully invested and generating operating cash flow sufficient to fully cover distributions to stockholders, we intend to pay all or a portion of our distributions from the proceeds of equity issuances or from borrowings in anticipation of future cash flow.
[2]	This table represents distributions declared and paid to common stockholders for each respective period. These amounts do not include distribution payments to the Series B Preferred Unit holders for the years ended December 31, 2016 and 2015.
[3]	On June 19, 2013, we filed a registration statement on Form S-3 to register up to $99,000,000 of shares of common stock to be offered to our existing stockholders pursuant to an amended and restated distribution reinvestment plan (the “DRIP offering”) pursuant to which our stockholders can elect to have their cash distributions reinvested in shares of our common stock. The purchase price for shares offered pursuant to the DRIP Offering is equal to the most recently announced estimated per-share value, as of the date the shares are purchased under the distribution reinvestment plan. The DRIP Offering shares were initially offered at a purchase price of $10.02; effective February 28, 2014 , DRIP offering shares were offered at a purchase price of $11.63 per share; and effective March 23, 2016 DRIP offering shares are being offered at $12.45, which is our most recent estimated per-share value. As of December 31, 2016 and 2015, 642,075 and 613,463 shares, respectively, had been issued under the distribution reinvestment plan.

Stockholders' Equity (Details 1

Stockholders' Equity (Details 1) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Summary of repurchased shares
Total Number of Shares Redeemed	0	0	49,962
Average Price Paid per Share	$ 0	$ 0	$ 11.63

Stockholders' Equity (Details 2

Stockholders' Equity (Details 2) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Taxable ordinary dividend Per Share	$ 0	$ 0	$ 0.14
Taxable ordinary dividend	0.00%	0.00%	27.12%
Return of capital Per Share	$ 0.50	$ 0.50	$ 0.36
Return of capital	100.00%	100.00%	72.88%
Capital gain Per Share	$ 0	$ 0	$ 0
Capital gain	0.00%	0.00%	0.00%

Stockholders' Equity (Details T

Stockholders' Equity (Details Textual) - USD ($)	1 Months Ended		12 Months Ended
	Aug. 31, 2016	Jun. 19, 2013	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Mar. 23, 2016	Feb. 28, 2014	Jun. 30, 2013	Feb. 10, 2013
Stockholders' Equity (Textual) [Abstract]
Common stock, shares authorized			580,000,000	580,000,000
Common stock, par value			$ 0.01	$ 0.01
Preferred stock, shares authorized			20,000,000
Preferred stock, par value			$ 0.01
Percentage of annualized rate								5.00%
Annualized rate per share								$ 0.50
Common Stock Reinvested			13,400,000	13,300,000
Proceeds from Issuance of Preferred Stock and Preference Stock			$ 156,900,000
Gross Proceeds From Common Stock			$ 133,500,000	$ 132,300,000
Common Stock To Be Offered Shares Dividend Reinvestment Plan		$ 99,000,000
Stock Issued During Period, Shares, Dividend Reinvestment Plan			642,075	613,463
Net Ordinary Taxable Income		90.00%
Number Of Days Prior Notice To Stock holders Regarding Changes In Program			30 days
Preferred Stock Liquidation Preference Percentage			10.00%
Stock Issued During Period, Value, New Issues			$ 354,000	$ 347,000	$ 308,000
Sale of Stock, Price Per Share		$ 10.02						$ 10
Stock Plan Term Period			10 years
Dividends Payable, Amount Per Share			$ 0.125
Investments In Joint Venture Equity Commitment Unfunded Amount			$ 1,700,000
Preferred Stock [Member]
Stockholders' Equity (Textual) [Abstract]
Preferred stock, shares authorized			20,000,000
Preferred stock, par value			$ 0.01
Stock Issued During Period, Shares, New Issues			0	0	0
Stock Issued During Period, Value, New Issues			$ 0	$ 0	$ 0
KKR Equity Commitment [Member]
Stockholders' Equity (Textual) [Abstract]
Preferred Stock, Dividend Rate, Percentage			10.00%
Distribution Reinvestment Plan [Member]
Stockholders' Equity (Textual) [Abstract]
Sale of Stock, Price Per Share						$ 12.45	$ 11.63
Series B [Member]
Stockholders' Equity (Textual) [Abstract]
Dividends, Preferred Stock, Cash			$ 11,000,000	$ 9,800,000
Series B [Member] | KKR Equity Commitment [Member]
Stockholders' Equity (Textual) [Abstract]
Proceeds from Issuance of Preferred Stock and Preference Stock			$ 18,900,000
Series B Preferred Stock [Member]
Stockholders' Equity (Textual) [Abstract]
Percentage of annualized rate			7.50%
Preferred Stock Convertible Number Of Equity Instruments			15,830,938	15,830,938
Construction Loan Originations Percentage			6.00%
Preferred Stock Liquidation Preference Percentage			10.00%
Stock Issued During Period, Value, New Issues			$ 158,700,000
Stock Issued During Period, Shares, Conversion of Units			1,586,000
Series B Preferred Stock [Member] | Georgetown Put [Member] | Issue Two [Member]
Stockholders' Equity (Textual) [Abstract]
Preferred Stock, Dividend Rate, Percentage	7.50%
Series B Preferred Stock [Member] | Georgetown Loan [Member] | Issue One [Member]
Stockholders' Equity (Textual) [Abstract]
Stock Issued During Period, Shares, New Issues			219,120
Series B Preferred Stock [Member] | Georgetown Loan [Member] | Issue Two [Member]
Stockholders' Equity (Textual) [Abstract]
Stock Issued During Period, Shares, New Issues	200,000
Preferred Stock, Dividend Rate, Percentage			7.50%
Series B Preferred Stock [Member] | KKR Equity Commitment [Member]
Stockholders' Equity (Textual) [Abstract]
Stock Issued During Period, Shares, New Issues			1,586,000
Series C Preferred Stock [Member]
Stockholders' Equity (Textual) [Abstract]
Preferred stock, shares authorized			1,000	1,000					1,000
Preferred stock, par value			$ 0.01	$ 0.01					$ 0.01
Percentage of annualized rate			3.00%
Stock Issued During Period, Shares, Other			1,000	1,000
Series C Preferred Stock [Member] | KKR Equity Commitment [Member]
Stockholders' Equity (Textual) [Abstract]
Stock Issued During Period, Shares, New Issues			1,000

Earnings Per Share (Details Tex

Earnings Per Share (Details Textual) - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Series B Preferred Stock [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,586,260	1,586,000	946,560

Related Party Transactions (Det

Related Party Transactions (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Aug. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Related Party Transactions (Additional Textual) [Abstract]
Management Fee, Description		our management fees and expenses and operating expenses totaled $5.3 million, $7.8 million and $5.8 million, respectively. These amounts did not exceed the greater of 2% of our average invested assets and 25% of our net income.
Percentage of average invested assets		2.00%
Percentage of net income		25.00%
Acquisition expenses		$ 0	$ 1,466,000	$ 2,724,000
Advisory Agreement Advisor Responsibilities		(i) property acquisition, disposition and financing services, (ii) asset management and operational services, including real estate services and financial and administrative services, (iii) stockholder services, and (iv) in the event we conduct a public offering of our securities, offering-related services.
Dividends Payable, Amount Per Share		$ 0.125
Disposition Fee Description		(i) 1.0% of the sales price of such property or properties, or (ii) one-half of the competitive real estate commission in light of the size, type and location of the property.
Disposition Fee Description Of Addition To Real Estate Commissions		(i) 6.0% of the aggregate contract sales price of each property or (ii) the competitive real estate commission for each property.
Stock Issued During Period, Value, New Issues		$ 354,000	347,000	308,000
Liquidation Event Advisor Fee Description		(i) $3.0 million, and (ii) the remaining portion of the $10.0 million Maximum Fee Amount, if any, not previously paid to our Advisor.
Transition to Internal Management Agreement Description		(i) one-fourth of 0.15% of our assets under management, calculated on a quarterly basis as of the last day of the quarter, or (ii) $150,000.
Advisory Agreement [Member]
Related Party Transactions (Additional Textual) [Abstract]
Percentage of average invested assets		2.00%
Percentage of net income		25.00%
Percentage Of Proceeds From Gross Offering		15.00%
Acquisition expenses		$ 0	1,400,000	1,600,000
Property Management Fee, Percent Fee		1.00%
Financing coordination fees		$ 0	0	100,000
Asset Under Management Percentage		1.00%
Operating Expenses		$ 5,300,000	7,800,000	5,800,000
Dividends Payable, Amount Per Share		$ 0.125
Asset Management Fees		$ 3,200,000	5,300,000	4,100,000
Sales Commissions and Fees		$ 0	0	0
Purchase Agreements [Member] | Advisory Agreement [Member]
Related Party Transactions (Additional Textual) [Abstract]
Property Management Fee, Percent Fee		1.00%
Common Stock [Member]
Related Party Transactions (Additional Textual) [Abstract]
Stock Issued During Period, Value, New Issues		$ 0	$ 0	$ 0
Stock Issued During Period, Shares, New Issues		28,998	29,852	27,407
Series B Preferred Stock [Member]
Related Party Transactions (Additional Textual) [Abstract]
Stock Issued During Period, Value, New Issues		$ 158,700,000
Series B Preferred Stock [Member] | Georgetown Put [Member] | Issue Two [Member]
Related Party Transactions (Additional Textual) [Abstract]
Stock Issued During Period, Shares, New Issues	200,000
Preferred Stock, Dividend Rate, Percentage	7.50%
KKR Equity Commitment [Member]
Related Party Transactions (Additional Textual) [Abstract]
Securities Purchase Agreement Transaction Fee		2,000,000
Securities Purchase Agreement Expenses Incurred		1,000,000
Minimum Purchase Obligation Unused Fee		$ 0	$ 100,000	$ 0
Preferred Stock, Dividend Rate, Percentage		10.00%
Key Provisions of Operating or Partnership Agreement, Description		(i) the sale is cash only, and (ii) the Company or the operating partnership, as applicable, has issued to the Investor $100,000 in aggregate liquidation preference amount of Series C Preferred Stock and $149,900,000 in aggregate liquidation preference amount of Series B Preferred Units.
KKR Equity Commitment [Member] | Put Option [Member]
Related Party Transactions (Additional Textual) [Abstract]
Preferred Stock, Dividend Rate, Percentage		6.00%
KKR Equity Commitment [Member] | Purchase Agreements [Member]
Related Party Transactions (Additional Textual) [Abstract]
Preferred Stock, Dividend Rate, Percentage		7.50%
Key Provisions of Operating or Partnership Agreement, Description		(i) the sale is cash only, and (ii) the Company or the Operating Partnership, as applicable, has issued to the Investor $100,000 in aggregate liquidation preference amount of Series C Preferred Stock and $149,900,000 in aggregate liquidation preference amount of Series B Preferred Units.
KKR Equity Commitment [Member] | Common Stock [Member]
Related Party Transactions (Additional Textual) [Abstract]
Investment Owned, Balance, Shares		15,830,938
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners		57.90%
KKR Equity Commitment [Member] | Series C And Series B Preferred Stock [Member]
Related Party Transactions (Additional Textual) [Abstract]
Stock Issued During Period, Value, New Issues		$ 158,700,000
Equity Interests Issued Or Issuable Amount		$ 158,700,000
Preferred Stock, Dividend Rate, Percentage		5.00%
KKR Equity Commitment [Member] | Series C Preferred Stock [Member]
Related Party Transactions (Additional Textual) [Abstract]
Stock Issued During Period, Shares, New Issues		1,000
KKR Equity Commitment [Member] | Series C Preferred Stock [Member] | Put Option [Member]
Related Party Transactions (Additional Textual) [Abstract]
Preferred Stock, Dividend Rate, Percentage		60.00%
KKR Equity Commitment [Member] | Series B Preferred Stock [Member]
Related Party Transactions (Additional Textual) [Abstract]
Stock Issued During Period, Shares, New Issues		1,586,000
Convertible Preferred Stock Conversion Price		$ 10.02
Shares Issued, Price Per Share		$ 100
Transition to Internal Management Agreement [Member]
Related Party Transactions (Additional Textual) [Abstract]
Subordinated Sales and Financings Promote Description		A subordinated sales and financings promote may be payable to the Advisor upon a distribution to holders of shares of our common stock outstanding as of February 10, 2013 (the “Legacy Common Shares”) resulting from a sale and financing of one or more of our assets, which will be determined and paid as an amount of shares of common stock equal to the ratio of: o 10% of the amount, if any, by which (A) the sum of (i) the number of Legacy Common Shares times the per share cash distributions to the holders of the Legacy Common Shares in respect of cash from sales and financings, plus (ii) the total amount of all previous dividends or distributions paid on the Legacy Common Shares since the date of the inception of the Company’s initial public offering; exceeds (B) the sum of (x) the total invested capital for the Legacy Common Shares and (y) the amount required to pay stockholders a 7% cumulative, non-compounded return from inception of the Company’s initial public offering through the date of the closing of the applicable sale or financing on the Legacy Common Shares; over: o the net asset value per share of common stock as of the closing of the applicable sale or financing (as defined in the Transition Agreement).
Subordinated Internalization Promote Description		In connection with a termination of the Advisory Agreement upon consummation of an internalization, the Advisor may be entitled to a subordinated internalization promote determined and paid on one-year anniversary of the termination of the Advisor Agreement, in an amount consisting of the sum of: o a cash payment equal to 40% of: 10% of the amount, if any, by which (A) the sum of (i) the number of Legacy Common Shares times the per share net asset value on the determination date, plus (ii) the total amount of dividends or distributions paid on the Legacy Common Shares from date from inception of the Company’s initial public offering through the determination date; exceeds (B) the sum of (x) the total invested capital for the Legacy Common Shares and (y) the amount required to pay stockholders a 7% cumulative, non-compounded return from inception of the Company’s initial public offering through the determination date on the Legacy Common Shares (such amount, the “Subordinated Internalization Cash Amount”); and an amount of shares of common stock equal to the ratio of: 60% of the Subordinated Internalization Cash Amount; over: the net asset value per share of common stock as of the determination date (as defined in the Transition Agreement).
Subordinated Performance Fee Due Upon Termination Description		If (1) we terminate the Advisory Agreement prior to an internalization for any reason other than a material breach by the Advisor, (2) the Advisory Agreement is not renewed (other than in connection with an internalization) because we are unwilling to renew the agreement on substantially similar terms, or (3) the Advisor terminates the Advisory Agreement prior to an internalization because of a material breach by us, then, we will pay the Advisor a subordinated performance fee due upon termination, payable in the form of a promissory note bearing simple interest at a rate of 5% per annum, in a principal amount equal to: 10% of the amount, if any, by which (A) the sum of (i) the product of the Legacy Common Shares times the per share net asset value at the termination date and (ii) total distributions (excluding any stock dividends and distributions paid on shares of common stock redeemed by the Company) paid on the Legacy Common Shares through the termination date, exceeds (B) the sum of (i) the total invested capital for the Legacy Common Shares and (ii) the total distributions required to be made to the Legacy Common Shares in order to pay stockholders a 7% cumulative, non-compounded return from inception of the Company’s initial public offering through the termination date; less any prior payment to our Advisor of a subordinated sales and financings promote.
Transition to Internal Management Agreement Description		The Transition Agreement limits the amount of the fees payable under the Advisory Agreement. Specifically, notwithstanding the provisions of the Advisory Agreement, acquisition fees, financing coordination fees, asset management fees, property management and leasing fees, and disposition fees payable under the Advisory Agreement (collectively, the Advisory Agreement Fees) are limited to (1) $3.2 million plus an excess amount (the Excess Amount) of $3.6 million
Transition to Internal Management Agreement [Member] | Purchase Agreements [Member]
Related Party Transactions (Additional Textual) [Abstract]
Investment Advisory, Management and Administrative Fees		$ 10,000,000

Selected Quarterly Data (unau73

Selected Quarterly Data (unaudited) (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Effect of Fourth Quarter Events [Line Items]
Revenues	$ 32,875,000	$ 32,569,000	$ 32,778,000	$ 31,814,000	$ 31,238,000	$ 29,775,000	$ 28,658,000	$ 25,624,000	$ 130,036,000	$ 115,295,000	$ 81,565,000
Expenses	25,472,000	25,542,000	27,824,000	25,953,000	25,438,000	27,129,000	27,185,000	23,594,000	104,791,000	103,346,000	71,203,000
Income from operations	7,403,000	7,027,000	4,954,000	5,861,000	5,800,000	2,646,000	1,473,000	2,030,000	25,245,000	11,949,000	10,362,000
Net income (loss)	6,922,000	2,958,000	1,264,000	2,378,000	2,991,000	(509,000)	(1,498,000)	(735,000)	13,522,000	249,000	487,000
Preferred return to series B preferred OP units and other noncontrolling interests	3,066,000	3,010,000	2,904,000	2,712,000	2,518,000	2,447,000	2,243,000	1,939,000
Net income (loss) attributable to common stockholders	$ 3,856,000	$ (52,000)	$ (1,640,000)	$ (334,000)	$ 473,000	$ (2,956,000)	$ (3,741,000)	$ (2,674,000)	$ 1,830,000	$ (8,898,000)	$ (2,666,000)
Net income (loss) per common share attributable to common stockholders- basic and diluted	$ 0.33	$ 0	$ (0.14)	$ (0.03)	$ 0.04	$ (0.26)	$ (0.33)	$ (0.23)
Weighted average common shares - basic and diluted	11,529,872	11,522,649	11,515,846	11,508,316	11,500,818	11,493,442	11,486,143	11,478,707	11,515,378	11,485,967	12,242,324

Schedule III - REAL ESTATE AN74

Schedule III - REAL ESTATE AND ACCUMULATED DEPRECIATION (Details) - USD ($)		12 Months Ended
		Dec. 31, 2016		Dec. 31, 2015	Dec. 31, 2014
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 357,844,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		48,146,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		435,350,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		5,635,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	48,146,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	440,985,000
SEC Schedule III, Real Estate, Gross		489,131,000	[1]	$ 477,141,000	$ 370,124,000
SEC Schedule III, Real Estate Accumulated Depreciation		45,485,000	[1],[2]	$ 32,711,000	$ 21,070,000
Caruth Haven Court [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		9,122,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		4,256,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		13,986,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		616,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	4,256,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	14,602,000
SEC Schedule III, Real Estate, Gross	[1]	18,858,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 3,216,000
Real Estate And Accumulated Depreciation Year Of Construction		1,999
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Jan. 22, 2009
The Oaks Bradenton [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 3,790,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		390,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		2,818,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		185,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	390,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	3,003,000
SEC Schedule III, Real Estate, Gross	[1]	3,393,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 659,000
Real Estate And Accumulated Depreciation Year Of Construction		1,996
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		May 1, 2009
GreenTree at Westwood [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 3,577,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		714,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		3,717,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		132,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	714,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	3,849,000
SEC Schedule III, Real Estate, Gross	[1]	4,563,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 755,000
Real Estate And Accumulated Depreciation Year Of Construction		1,998
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Dec. 30, 2009
Mesa Vista Inn Health Center [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 8,248,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		2,010,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		10,430,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		1,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	2,010,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	10,431,000
SEC Schedule III, Real Estate, Gross	[1]	12,441,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 1,920,000
Real Estate And Accumulated Depreciation Year Of Construction		2,008
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Dec. 31, 2009
Rome LTACH Project [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 12,055,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		0
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		18,202,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		0
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	0
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	18,202,000
SEC Schedule III, Real Estate, Gross	[1]	18,202,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 3,622,000
Real Estate And Accumulated Depreciation Year Of Construction		2,011
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Jan. 12, 2010
Oakleaf Village at Lexington [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 11,636,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		1,767,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		10,768,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		200,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	1,767,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	10,968,000
SEC Schedule III, Real Estate, Gross	[1]	12,735,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 2,021,000
Real Estate And Accumulated Depreciation Year Of Construction		1,999
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Apr. 30, 2010
Oakleaf Village at Greenville [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 6,835,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		1,351,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		9,770,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		239,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	1,351,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	10,009,000
SEC Schedule III, Real Estate, Gross	[1]	11,360,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 1,839,000
Real Estate And Accumulated Depreciation Year Of Construction		2,001
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Apr. 30, 2010
Cornerstone Dallas Rehab [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 6,895,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		2,004,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		10,368,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		64,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	2,004,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	10,432,000
SEC Schedule III, Real Estate, Gross	[1]	12,436,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 1,771,000
Real Estate And Accumulated Depreciation Year Of Construction		2,008
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Aug. 19, 2010
Terrace At Mountain Creek [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 8,121,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		1,880,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		6,070,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		560,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	1,880,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	6,630,000
SEC Schedule III, Real Estate, Gross	[1]	8,510,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 1,307,000
Real Estate And Accumulated Depreciation Year Of Construction		1,995
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Sep. 3, 2010
Hedgcoxe Health Plaza [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 5,222,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		1,580,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		6,388,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		222,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	1,580,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	6,610,000
SEC Schedule III, Real Estate, Gross	[1]	8,190,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 1,333,000
Real Estate And Accumulated Depreciation Year Of Construction		2,008
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Dec. 22, 2010
Carriage Court Of Hilliard [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 12,767,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		1,580,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		12,180,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		621,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	1,580,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	12,801,000
SEC Schedule III, Real Estate, Gross	[1]	14,381,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 2,138,000
Real Estate And Accumulated Depreciation Year Of Construction		1,998
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Dec. 22, 2010
Spring Village at Floral Vale [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 6,016,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		860,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		3,010,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		635,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	860,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	3,645,000
SEC Schedule III, Real Estate, Gross	[1]	4,505,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 737,000
Real Estate And Accumulated Depreciation Year Of Construction		1,996
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Dec. 22, 2010
Forestview Manor [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 8,121,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		1,320,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		8,035,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		265,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	1,320,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	8,300,000
SEC Schedule III, Real Estate, Gross	[1]	9,620,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 1,678,000
Real Estate And Accumulated Depreciation Year Of Construction		2,002
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Jan. 14, 2011
Woodland Terrace at the Oaks [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 8,995,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		1,000,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		7,148,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		556,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	1,000,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	7,704,000
SEC Schedule III, Real Estate, Gross	[1]	8,704,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 1,352,000
Real Estate And Accumulated Depreciation Year Of Construction		1,996
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Apr. 14, 2011
Amber Glen [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 8,102,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		546,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		11,874,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		118,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	546,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	11,992,000
SEC Schedule III, Real Estate, Gross	[1]	12,538,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 1,379,000
Real Estate And Accumulated Depreciation Year Of Construction		2,006
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Aug. 31, 2012
Mill Creek [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 7,820,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		825,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		10,503,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		13,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	825,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	10,516,000
SEC Schedule III, Real Estate, Gross	[1]	11,341,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 1,189,000
Real Estate And Accumulated Depreciation Year Of Construction		2,006
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Aug. 31, 2012
Hudson Creek [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 7,506,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		543,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		10,053,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		29,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	543,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	10,082,000
SEC Schedule III, Real Estate, Gross	[1]	10,625,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 1,179,000
Real Estate And Accumulated Depreciation Year Of Construction		2,006
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Aug. 31, 2012
Sugar Creek [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 7,341,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		567,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		10,473,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		113,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	567,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	10,586,000
SEC Schedule III, Real Estate, Gross	[1]	11,153,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 1,246,000
Real Estate And Accumulated Depreciation Year Of Construction		2,007
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Aug. 31, 2012
Woodbury Mews Portfolio [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 23,704,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		2,267,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		28,754,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		299,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	2,267,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	29,053,000
SEC Schedule III, Real Estate, Gross	[1]	31,320,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 3,251,000
Real Estate And Accumulated Depreciation Year Of Construction		2,003
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Oct. 21, 2013
Standish Village [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 10,885,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		3,100,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		10,639,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		556,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	3,100,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	11,195,000
SEC Schedule III, Real Estate, Gross	[1]	14,295,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 1,267,000
Real Estate And Accumulated Depreciation Year Of Construction		1,994
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Dec. 6, 2013
Compass on the Bay [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 6,300,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		5,551,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		4,825,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		32,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	5,551,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	4,857,000
SEC Schedule III, Real Estate, Gross	[1]	10,408,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 354,000
Real Estate And Accumulated Depreciation Year Of Construction		1,960
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Apr. 4, 2014
St. Andrews Village [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 30,205,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		5,351,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		35,445,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		30,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	5,351,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	35,475,000
SEC Schedule III, Real Estate, Gross	[1]	40,826,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 2,334,000
Real Estate And Accumulated Depreciation Year Of Construction		2,006
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Aug. 20, 2014
The Parkway [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 17,117,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		1,200,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		20,326,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		(105,000)
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	1,200,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	20,221,000
SEC Schedule III, Real Estate, Gross	[1]	21,421,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 653,000
Real Estate And Accumulated Depreciation Year Of Construction		2,015
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Oct. 2, 2014
Live Oaks Village of Hammond [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 3,727,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		694,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		5,620,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		117,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	694,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	5,737,000
SEC Schedule III, Real Estate, Gross	[1]	6,431,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 347,000
Real Estate And Accumulated Depreciation Year Of Construction		1,999
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Nov. 14, 2014
Live Oaks Village of Slidell [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 2,077,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		476,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		4,547,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		81,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	476,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	4,628,000
SEC Schedule III, Real Estate, Gross	[1]	5,104,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 297,000
Real Estate And Accumulated Depreciation Year Of Construction		2,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Nov. 14, 2014
Spring Village at Wildewood [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 11,272,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		683,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		8,451,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		19,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	683,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	8,470,000
SEC Schedule III, Real Estate, Gross	[1]	9,153,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 349,000
Real Estate And Accumulated Depreciation Year Of Construction		2,014
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Nov. 21, 2014
Gables of Hudson [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 15,982,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		974,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		15,364,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		0
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	974,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	15,364,000
SEC Schedule III, Real Estate, Gross	[1]	16,338,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 878,000
Real Estate And Accumulated Depreciation Year Of Construction		2,013
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Dec. 18, 2014
Sumter Place [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 27,325,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		0
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		46,014,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		0
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	0
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	46,014,000
SEC Schedule III, Real Estate, Gross	[1]	46,014,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 2,435,000
Real Estate And Accumulated Depreciation Year Of Construction		2,012
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Dec. 31, 2014
Sumter Grand [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 19,195,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		0
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		37,295,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		0
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	0
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	37,295,000
SEC Schedule III, Real Estate, Gross	[1]	37,295,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 1,953,000
Real Estate And Accumulated Depreciation Year Of Construction		2,014
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Feb. 6, 2015
Gables of Kentridge [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 8,871,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		640,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		12,939,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		23,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	640,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	12,962,000
SEC Schedule III, Real Estate, Gross	[1]	13,602,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 657,000
Real Estate And Accumulated Depreciation Year Of Construction		2,005
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Apr. 1, 2015
Accel at Golden [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	[3]	$ 9,342,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	[3]	2,110,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	[3]	0
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs	[3]	0
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1],[3]	2,110,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1],[3]	0
SEC Schedule III, Real Estate, Gross	[1],[3]	2,110,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2],[3]	$ 0
Real Estate And Accumulated Depreciation Year Of Construction	[3]	2,016
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired	[3]	Apr. 3, 2015
Armbrook Village [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 21,000,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		957,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		29,688,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		14,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	957,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	29,702,000
SEC Schedule III, Real Estate, Gross	[1]	30,659,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 1,361,000
Real Estate And Accumulated Depreciation Year Of Construction		2,013
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Apr. 6, 2015
Spring Village at Essex [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances		$ 8,673,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land		950,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements		9,650,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Carrying Costs		0
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	[1]	950,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	[1]	9,650,000
SEC Schedule III, Real Estate, Gross	[1]	10,600,000
SEC Schedule III, Real Estate Accumulated Depreciation	[1],[2]	$ 8,000
Real Estate And Accumulated Depreciation Year Of Construction		2,016
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired		Nov. 18, 2016
[1]	The aggregate cost of real estate for federal income tax purposes was $503.0 million.
[2]	See Note 3 to our consolidated financial statements for information regarding useful lives used for depreciation and amortization.
[3]	See Note 4 to our consolidated financial statements for information regarding the construction in progress at Accel at Golden.

Schedule III - REAL ESTATE AN75

Schedule III - REAL ESTATE AND ACCUMULATED DEPRECIATION (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2016		Dec. 31, 2015
Real Estate, Cost Acquisitions	$ 11,990,000		$ 107,017,000
Real Estate, Cost Balance	489,131,000	[1]	477,141,000
Real Estate, Accumulated Depreciation Acquisitions	12,774,000		11,641,000
Real Estate, Accumulated Depreciation Balance	$ 45,485,000	[1],[2]	$ 32,711,000
[1]	The aggregate cost of real estate for federal income tax purposes was $503.0 million.
[2]	See Note 3 to our consolidated financial statements for information regarding useful lives used for depreciation and amortization.

Schedule III - REAL ESTATE AN76

Schedule III - REAL ESTATE AND ACCUMULATED DEPRECIATION (Details Textual) $ in Millions	Dec. 31, 2016USD ($)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate, Federal Income Tax Basis	$ 503	[1]
[1]	The aggregate cost of real estate for federal income tax purposes was $503.0 million.