Sabra Health Care REIT (SBRA) 10-Q 4 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 01, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Sabra Health Care REIT, Inc.
Entity Central Index Key	1,492,298
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		65,134,056

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets
Real estate investments, net of accumulated depreciation of $213,735 and $185,994 as of June 30, 2015 and December 31, 2014, respectively	$ 1,933,831	$ 1,645,805
Loans receivable and other investments, net	278,507	251,583
Cash and cash equivalents	6,042	61,793
Restricted cash	7,093	7,024
Prepaid expenses, deferred financing costs and other assets, net	112,329	98,687
Total assets	2,337,802	2,064,892
Liabilities
Mortgage notes	142,252	124,022
Revolving credit facility	122,000	68,000
Term loans	272,846	200,000
Senior unsecured notes	699,323	699,272
Accounts payable and accrued liabilities	30,573	31,775
Total liabilities	$ 1,266,994	$ 1,123,069
Commitments and contingencies
Equity
Preferred stock, $.01 par value; 10,000,000 shares authorized, 5,750,000 shares issued and outstanding as of June 30, 2015 and December 31, 2014	$ 58	$ 58
Common stock, $.01 par value; 125,000,000 shares authorized, 65,134,056 and 59,047,001 shares issued and outstanding as of June 30, 2015 and December 31, 2014, respectively	651	590
Additional paid-in capital	1,201,155	1,053,601
Cumulative distributions in excess of net income	(126,167)	(110,841)
Accumulated other comprehensive loss	(4,826)	(1,542)
Total Sabra Health Care REIT, Inc. stockholders’ equity	1,070,871	941,866
Noncontrolling interests	(63)	(43)
Total equity	1,070,808	941,823
Total liabilities and equity	$ 2,337,802	$ 2,064,892

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets
Accumulated depreciation	$ 213,735	$ 185,994
Equity
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	5,750,000	5,750,000
Preferred stock, shares outstanding (in shares)	5,750,000	5,750,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	125,000,000	125,000,000
Common stock, shares issued (in shares)	65,134,056	59,047,001
Common stock, shares outstanding (in shares)	65,134,056	59,047,001

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues:
Rental income	$ 49,896	$ 37,485	$ 99,401	$ 73,578
Interest and other income	6,690	5,488	12,757	10,245
Total revenues	56,586	42,973	112,158	83,823
Expenses:
Depreciation and amortization	14,497	9,755	28,647	19,105
Interest	14,052	10,994	27,932	22,128
General and administrative	9,862	5,031	16,721	10,785
Provision for doubtful accounts and write-offs	2,972	2,895	4,116	2,994
Total expenses	41,383	28,675	77,416	55,012
Other income (expense):
Loss on extinguishment of debt	0	(162)	0	(22,296)
Other (expense) income	(100)	660	(200)	960
Gain on sale of real estate	1,723	0	1,723	0
Total other income (expense)	1,623	498	1,523	(21,336)
Net income	16,826	14,796	36,265	7,475
Net loss attributable to noncontrolling interests	9	5	20	23
Net income attributable to Sabra Health Care REIT, Inc.	16,835	14,801	36,285	7,498
Preferred stock dividends	(2,560)	(2,560)	(5,121)	(5,121)
Net income attributable to common stockholders	$ 14,275	$ 12,241	$ 31,164	$ 2,377
Net income attributable to common stockholders, per:
Basic common share (in dollars per share)	$ 0.24	$ 0.28	$ 0.53	$ 0.06
Diluted common share (in dollars per share)	$ 0.24	$ 0.28	$ 0.52	$ 0.06
Weighted-average number of common shares outstanding, basic (in shares)	59,323,799	43,655,292	59,254,895	41,324,795
Weighted-average number of common shares outstanding, diluted (in shares)	59,543,781	44,096,297	59,510,164	41,791,470

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 16,826	$ 14,796	$ 36,265	$ 7,475
Other comprehensive loss:
Foreign currency translation	(595)	0	(595)	0
Unrealized loss on cash flow hedges	(1,144)	0	(2,689)	0
Comprehensive income	15,087	14,796	32,981	7,475
Comprehensive loss attributable to noncontrolling interest	9	5	20	23
Comprehensive income attributable to Sabra Health Care REIT, Inc.	$ 15,096	$ 14,801	$ 33,001	$ 7,498

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Equity (unaudited) - USD ($) $ in Thousands	Total	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Cumulative Distributions in Excess of Net Income [Member]	Accumulated Other Comprehensive Loss [Member]	Total Stockholders' Equity [Member]	Noncontrolling Interest [Member]	Common Stock [Member]	Common Stock [Member]Common Stock [Member]	Common Stock [Member]Additional Paid-in Capital [Member]	Common Stock [Member]Total Stockholders' Equity [Member]
Beginning balance (in shares) at Dec. 31, 2013		5,750,000	38,788,745
Beginning balance at Dec. 31, 2013	$ 460,164	$ 58	$ 388	$ 534,639	$ (74,921)	$ 0	$ 460,164	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	7,475				7,498		7,498	(23)
Amortization of stock-based compensation	5,195			5,195			5,195
Common stock issuance, net (in shares)										8,474,406
Common stock issuance, net									$ 220,509	$ 85	$ 220,424	$ 220,509
Preferred dividends	(5,121)				(5,121)		(5,121)
Common dividends	(32,407)				(32,407)		(32,407)
Ending balance (in shares) at Jun. 30, 2014		5,750,000	47,263,151
Ending balance at Jun. 30, 2014	655,815	$ 58	$ 473	760,258	(104,951)	0	655,838	(23)
Beginning balance (in shares) at Dec. 31, 2014		5,750,000	59,047,001
Beginning balance at Dec. 31, 2014	941,823	$ 58	$ 590	1,053,601	(110,841)	(1,542)	941,866	(43)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	36,265				36,285		36,285	(20)
Other comprehensive loss	(3,284)					(3,284)	(3,284)
Amortization of stock-based compensation	4,940			4,940			4,940
Common stock issuance, net (in shares)										6,087,055
Common stock issuance, net									$ 142,675	$ 61	$ 142,614	$ 142,675
Preferred dividends	(5,121)				(5,121)		(5,121)
Common dividends	(46,490)				(46,490)		(46,490)
Ending balance (in shares) at Jun. 30, 2015		5,750,000	65,134,056
Ending balance at Jun. 30, 2015	$ 1,070,808	$ 58	$ 651	$ 1,201,155	$ (126,167)	$ (4,826)	$ 1,070,871	$ (63)

Condensed Consolidated Stateme7

Condensed Consolidated Statement of Equity (unaudited) (Parenthetical) - $ / shares	May. 05, 2015	Jan. 12, 2015	Jun. 30, 2015	Jun. 30, 2014
Statement of Stockholders' Equity [Abstract]
Common dividends (in dollars per share)	$ 0.39	$ 0.39	$ 0.78	$ 0.74

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income	$ 36,265	$ 7,475
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	28,647	19,105
Non-cash interest income adjustments	212	140
Amortization of deferred financing costs	2,529	1,872
Stock-based compensation expense	4,672	4,792
Amortization of debt discount (premium)	51	(33)
Loss on extinguishment of debt	0	1,418
Straight-line rental income adjustments	(11,834)	(8,433)
Provision for doubtful accounts and write-offs	4,116	2,994
Change in fair value of contingent consideration	200	(960)
Gain on sale of real estate	(1,723)	0
Changes in operating assets and liabilities:
Prepaid expenses and other assets	(11,292)	(1,171)
Accounts payable and accrued liabilities	1,014	3,312
Restricted cash	(1,550)	(1,590)
Net cash (used in) provided by operating activities	51,307	28,921
Cash flows from investing activities:
Acquisitions of real estate	(301,851)	(118,389)
Origination and fundings of loans receivable	(21,737)	(38,373)
Preferred equity investments	(5,131)	(6,458)
Additions to real estate	(1,033)	(783)
Repayment of loans receivable	2,052	0
Release of contingent consideration held in escrow	5,240	0
Net proceeds from the sale of real estate	1,800	0
Net cash used in investing activities	(320,660)	(164,003)
Cash flows from financing activities:
Proceeds from issuance of senior unsecured notes	0	350,000
Principal payments on senior unsecured notes	0	(211,250)
Net proceeds (repayments) from revolving credit facility	54,000	(135,500)
Proceeds from term loan	73,242	0
Proceeds from mortgage notes	0	57,703
Principal payments on mortgage notes	(1,340)	(87,733)
Payments of deferred financing costs	(834)	(10,135)
Issuance of common stock	140,062	219,899
Dividends paid on common and preferred stock	(51,343)	(37,125)
Net cash provided by (used in) financing activities	213,787	145,859
Net (decrease) increase in cash and cash equivalents	(55,566)	10,777
Effect of foreign currency translation on cash and cash equivalents	(185)	0
Cash and cash equivalents, beginning of period	61,793	4,308
Cash and cash equivalents, end of period	6,042	15,085
Supplemental disclosure of cash flow information:
Interest paid	25,441	15,298
Supplemental disclosure of non-cash investing and financing activities:
Assumption of mortgage indebtedness	$ 19,677	$ 14,102

BUSINESS

BUSINESS	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS	BUSINESS Overview Sabra Health Care REIT, Inc. (“Sabra” or the “Company”) was incorporated on May 10, 2010 as a wholly owned subsidiary of Sun Healthcare Group, Inc. (“Sun”) and commenced operations on November 15, 2010 following Sabra's separation from Sun. Sabra elected to be treated as a real estate investment trust (“REIT”) with the filing of its U.S. federal income tax return for the taxable year beginning January 1, 2011. Sabra believes that it has been organized and operated, and it intends to continue to operate, in a manner to qualify as a REIT. Sabra’s primary business consists of acquiring, financing and owning real estate property to be leased to third party tenants in the healthcare sector. Sabra primarily generates revenues by leasing properties to tenants and operators throughout the United States and Canada. Sabra owns substantially all of its properties and assets and conducts its operations through Sabra Health Care Limited Partnership, a Delaware limited partnership (the “Operating Partnership”), of which Sabra is the sole general partner and Sabra’s wholly owned subsidiaries are currently the only limited partners, or by subsidiaries of the Operating Partnership. The Company’s investment portfolio is primarily comprised of skilled nursing/transitional care facilities, senior housing facilities, acute care hospitals, investments in loans receivable and preferred equity investments.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Basis of Presentation The accompanying condensed consolidated financial statements include the accounts of Sabra and its wholly owned subsidiaries as of June 30, 2015 and December 31, 2014 and for the periods ended June 30, 2015 and 2014. All significant intercompany transactions and balances have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the Securities and Exchange Commission (the “SEC”), including the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the unaudited condensed consolidated financial statements do not include all of the information and footnotes required by GAAP for financial statements. In the opinion of management, the financial statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair statement of the results for such periods. Operating results for the three and six months ended June 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 . For further information, refer to the Company’s consolidated financial statements and notes thereto for the year ended December 31, 2014 included in the Company’s 2014 Annual Report on Form 10-K filed with the SEC. GAAP requires the Company to identify entities for which control is achieved through means other than voting rights and to determine which business enterprise is the primary beneficiary of variable interest entities (“VIEs”). A VIE is broadly defined as an entity with one or more of the following characteristics: (a) the total equity investment at risk is insufficient to finance the entity's activities without additional subordinated financial support; (b) as a group, the holders of the equity investment at risk lack (i) the ability to make decisions about the entity's activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; or (c) the equity investors have voting rights that are not proportional to their economic interests, and substantially all of the entity's activities either involve, or are conducted on behalf of, an investor that has disproportionately few voting rights. If the Company were determined to be the primary beneficiary of the VIE, the Company would consolidate investments in the VIE. The Company may change its original assessment of a VIE due to events such as modifications of contractual arrangements that affect the characteristics or adequacy of the entity's equity investments at risk and the disposal of all or a portion of an interest held by the primary beneficiary. The Company identifies the primary beneficiary of a VIE as the enterprise that has both: (i) the power to direct the activities of the VIE that most significantly impact the entity's economic performance; and (ii) the obligation to absorb losses or the right to receive benefits of the VIE that could be significant to the entity. The Company performs this analysis on an ongoing basis. As of June 30, 2015 , the Company identified one VIE, a senior housing facility leased to a 50%/50% RIDEA-compliant joint venture tenant, where it determined it was the primary beneficiary and has consolidated the operations of the facility in the accompanying condensed consolidated financial statements. As of June 30, 2015 , the Company determined that operations of the facility were not material to the Company’s results of operations, financial condition or cash flows. As it relates to investments in loans, in addition to the Company's assessment of VIEs and whether the Company is the primary beneficiary of those VIEs, the Company evaluates the loan terms and other pertinent facts to determine if the loan investment should be accounted for as a loan or as a real estate joint venture. If an investment has the characteristics of a real estate joint venture, including if the Company participates in the majority of the borrower's expected residual profit, the Company would account for the investment as an investment in a real estate joint venture and not as a loan investment. Expected residual profit is defined as the amount of profit, whether called interest or another name, such as an equity kicker, above a reasonable amount of interest and fees expected to be earned by a lender. At June 30, 2015 , none of the Company's investments in loans are accounted for as real estate joint ventures. As it relates to investments in joint ventures, based on the type of rights held by the limited partner(s), GAAP may preclude consolidation by the sole general partner in certain circumstances in which the general partner would otherwise consolidate the joint venture. The Company assesses limited partners' rights and their impact on the presumption of control of the limited partnership by the sole general partner when an investor becomes the sole general partner, and the Company reassesses if: there is a change to the terms or in the exercisability of the rights of the limited partners; the sole general partner increases or decreases its ownership of limited partnership interests; or there is an increase or decrease in the number of outstanding limited partnership interests. The Company also applies this guidance to managing member interests in limited liability companies. Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. Reclassifications Certain amounts in the Company’s condensed consolidated financial statements for prior periods have been reclassified to conform to the current period presentation. These reclassifications have not changed the results of operations of prior periods. As a result, certain reclassifications were made to the condensed consolidated statements of income and the condensed consolidated statements of cash flows for all periods presented. Foreign Currency Certain of the Company's subsidiaries’ functional currencies are the local currencies of their respective foreign jurisdictions. The Company translates the results of operations of its foreign subsidiaries into U.S. dollars using average rates of exchange in effect during the period presented, and it translates balance sheet accounts using exchange rates in effect at the end of the period presented. The Company records resulting currency translation adjustments in accumulated other comprehensive income, a component of stockholders’ equity, on its condensed consolidated balance sheets, and it records foreign currency transaction gains and losses as a component of interest and other income on its condensed consolidated statements of income. Derivative Instruments The Company uses certain types of derivative instruments for the purpose of managing interest rate and currency risk. To qualify for hedge accounting, derivative instruments used for risk management purposes must effectively reduce the risk exposure that they are designed to hedge. In addition, at inception the Company must make an assessment that the transaction that the Company intends to hedge is probable of occurring and this assessment must be updated each reporting period. The Company recognizes all derivative instruments as assets or liabilities in the condensed consolidated balance sheets at their fair value. For derivatives designated and qualified as a hedge, the change in fair value of the effective portion of the derivatives is recognized in accumulated other comprehensive income (loss), whereas the change in fair value of the ineffective portion is recognized in earnings. Changes in the fair value of derivative instruments that are not designated in hedging relationships or that do not meet the criteria for hedge accounting would be recognized in earnings. As of June 30, 2015, all of the Company's derivative instruments meet the criteria for hedge accounting. The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objectives and strategy for undertaking various hedge transactions. This process includes designating all derivatives that are part of a hedging relationship to specific transactions as well as recognizing obligations or assets in the condensed consolidated balance sheets. The Company also assesses and documents, both at inception of the hedging relationship and on a quarterly basis thereafter, whether the derivatives are highly effective in offsetting the designated risks associated with the respective hedged items. If it is determined that a derivative ceases to be highly effective as a hedge, or that it is probable the underlying transaction will not occur, the Company would discontinue hedge accounting prospectively and record the appropriate adjustment to earnings based on the then-current fair value of the derivative. Recently Issued Accounting Standards Update In January 2015, the FASB issued Accounting Standards Update (“ASU”) 2015-01, Income Statement–Extraordinary and Unusual (“ASU 2015-01”). ASU 2015-01 simplifies income statement presentation by eliminating the concept of extraordinary items. An entity will no longer be allowed to separately disclose extraordinary items, net of tax, in the income statement after income from continuing operations if an event or transaction is unusual in nature and occurs infrequently. ASU 2015-01 is effective for fiscal years and interim periods within those years beginning after December 15, 2015, with early adoption permitted, and may be applied either prospectively or retrospectively. The adoption of this guidance is not expected to have a material impact on the Company's consolidated financial statements. In February 2015, the FASB issued ASU 2015-02, Consolidation–Amendments to the Consolidation Analysis (Topic 810) (“ASU 2015-02”). ASU 2015-02 updates guidance related to accounting for consolidation of certain limited partnerships. ASU 2015-02 does not add or remove any of the five characteristics that determine if an entity is a VIE; however, it changes the manner in which a reporting entity assesses its ability to make decisions about the entity's activities. Additionally, ASU 2015-02 removes three of the six criteria that must be met for a fee arrangement to not be a VIE and modifies how an entity assesses interests held through related parties. ASU 2015-02 is effective for fiscal years and interim periods within those years beginning after December 15, 2015, with early adoption permitted. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements when adopted. In April 2015, the FASB issued ASU 2015-03, Interest–Imputation of Interest-Simplifying the Presentation of Debt Issuance Costs (Subtopic 835-30) (“ASU 2015-03”). ASU 2015-03 requires debt issuance costs related to a recognized debt liability paid to a third party other than the lender to be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption of this guidance is permitted for financial statements that have not been previously issued, and an entity should apply the new guidance on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. The adoption of this guidance is not expected to have a material impact on the Company's consolidated financial statements.

RECENT REAL ESTATE ACQUISITIONS

RECENT REAL ESTATE ACQUISITIONS	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
RECENT REAL ESTATE ACQUISITIONS	RECENT REAL ESTATE ACQUISITIONS During the six months ended June 30, 2015 , the Company acquired three skilled nursing/transitional care facilities and 10 senior housing facilities. During the six months ended June 30, 2014 , the Company acquired six skilled nursing/transitional care facilities and three senior housing facilities. The consideration was allocated as follows (in thousands): Six Months Ended June 30, 2015 2014 Land $ 20,767 $ 11,939 Building and Improvements 294,911 126,855 Tenant Origination and Absorption Costs 4,421 2,075 Tenant Relationship 1,428 677 Total Consideration $ 321,527 $ 141,546 As of June 30, 2015 , the purchase price allocations for the acquisitions completed during the three months ended June 30, 2015 are preliminary pending the receipt of information necessary to complete the valuation of certain tangible and intangible assets and liabilities and therefore are subject to change. The tenant origination and absorption costs intangible assets and tenant relationship intangible assets acquired in connection with these acquisitions have weighted-average amortization periods as of the respective date of acquisition of 13 years and 22 years, respectively. For the three and six months ended June 30, 2015 , the Company recognized $0.7 million of total revenues and net income attributable to common stockholders, excluding acquisition pursuit costs of $0.4 million , from the properties acquired during the six months ended June 30, 2015 . On June 11, 2015, the Company acquired nine senior housing facilities with a total of 865 units located in British Columbia and Ontario, Canada (the “Canadian Portfolio”) for a purchase price of CAD $170.5 million (U.S. $138.8 million ). Concurrently with the acquisition, the Company entered into a triple-net master lease agreement with an affiliate of Senior Lifestyle Corporation. The master lease has an initial term of 10 years with two five -year renewal options with annual rent increases of 4.0% in years two and three and the greater of 3.0% or the Canadian Consumer Price Index ("CPI") during the remainder of the lease term. The master lease is expected to generate annual lease revenues determined in accordance with GAAP of CAD $11.9 million . In connection with the acquisition of the Canadian Portfolio, the Company assumed three existing mortgage loans with outstanding principal amounts totaling CAD $24.2 million . On June 30, 2015, the Company acquired three skilled nursing facilities that specialize in transitional care and medically complex post-surgical, ventilator and dialysis patients with a total of 472 licensed beds located in Maryland (collectively, the "NMS Portfolio") for a purchase price of $175.2 million . Concurrently with the acquisition, the Company entered into a triple-net master lease agreement with the current operator (“NMS Operator”). The master lease has an initial term of 15 years with two 10 -year renewal options and annual rent escalators equal to the greater of 2.50% or CPI, but not to exceed 2.75% . The lease is expected to generate annual lease revenues determined in accordance with GAAP of $18.3 million . Also on June 30, 2015, the Company entered into a purchase and sale agreement with the seller of the NMS Portfolio to acquire a fourth skilled nursing facility that also specializes in transitional care and medically complex post-surgical, ventilator and dialysis patients with a total of 206 licensed beds located in Maryland for $58.8 million . The transaction is expected to close during the fourth quarter of 2015 and the facility will be operated by the NMS Operator under a separate lease agreement with similar terms.

REAL ESTATE PROPERTIES HELD FOR

REAL ESTATE PROPERTIES HELD FOR INVESTMENT	6 Months Ended
	Jun. 30, 2015
Real Estate Investments, Net [Abstract]
REAL ESTATE PROPERTIES HELD FOR INVESTMENT	REAL ESTATE PROPERTIES HELD FOR INVESTMENT The Company’s real estate properties held for investment consisted of the following (dollars in thousands): As of June 30, 2015 Property Type Number of Properties Number of Beds/Units Total Real Estate at Cost Accumulated Depreciation Total Real Estate Investments, Net Skilled Nursing/Transitional Care 106 11,813 $ 1,026,652 $ (166,313 ) $ 860,339 Senior Housing 64 6,112 944,831 (32,965 ) 911,866 Acute Care Hospitals 2 124 175,807 (14,225 ) 161,582 172 18,049 2,147,290 (213,503 ) 1,933,787 Corporate Level 276 (232 ) 44 $ 2,147,566 $ (213,735 ) $ 1,933,831 As of December 31, 2014 Property Type Number of Properties Number of Beds/Units Total Real Estate at Cost Accumulated Depreciation Total Real Estate Investments, Net Skilled Nursing/Transitional Care 103 11,336 $ 851,252 $ (151,978 ) $ 699,274 Senior Housing 55 5,258 804,475 (22,487 ) 781,988 Acute Care Hospitals 2 124 175,807 (11,324 ) 164,483 160 16,718 1,831,534 (185,789 ) 1,645,745 Corporate Level 265 (205 ) 60 $ 1,831,799 $ (185,994 ) $ 1,645,805 June 30, 2015 December 31, 2014 Building and improvements $ 1,833,604 $ 1,551,548 Furniture and equipment 95,818 82,812 Land improvements 3,646 3,646 Land 214,498 193,793 2,147,566 1,831,799 Accumulated depreciation (213,735 ) (185,994 ) $ 1,933,831 $ 1,645,805 Contingent Consideration Liability On February 14, 2014, the Company acquired four skilled nursing facilities and two senior housing facilities for $90.0 million . The Company may pay an earn-out based on incremental portfolio value created through the improvement of current operations as well as through expansion and conversion projects associated with these facilities. The earn-out amount will be determined based on portfolio performance following the third anniversary of the Company's entry into the master lease. To determine the value of the contingent consideration, the Company used significant inputs not observable in the market to estimate the earn-out, made assumptions regarding the probability of the portfolio achieving the incremental value and then applied an appropriate discount rate. The Company estimated a contingent consideration liability of $3.2 million at the time of purchase. As of June 30, 2015 , based on the potential future performance of the facilities, the contingent consideration liability is estimated at $4.1 million and is included in accounts payable and accrued liabilities in the accompanying condensed consolidated balance sheet. During the three and six months ended June 30, 2015 , the Company recorded an adjustment to increase the contingent consideration liability by $0.1 million and $0.2 million , respectively, and included this amount in other income (expense) on the accompanying condensed consolidated statements of income. On October 22, 2013, the Company purchased one acute care hospital for $119.8 million , of which approximately $10.5 million was to be held in escrow for up to 20 months. The amount ultimately released from escrow was contingent on the tenant achieving certain performance hurdles. The seller was paid a fee of $0.5 million per annum during the escrow period through November 2014 . As of October 22, 2013, the amount the Company expected to release from escrow was valued at $7.3 million and was treated as contingent consideration. During the second quarter of 2014, $5.3 million was released from escrow to the seller as a result of the facility achieving certain of its performance hurdles. The facility did not meet the required performance hurdles for the remaining $5.2 million held in escrow and during the second quarter of 2015, the remaining $5.2 million was released to the Company. During the six months ended June 30, 2015 , no adjustment was made to the contingent consideration liability. Operating Leases As of June 30, 2015 , all of the Company’s real estate properties were leased under triple-net operating leases with expirations ranging from two to 17 years. As of June 30, 2015 , the leases had a weighted-average remaining term of 10 years. The leases include provisions to extend the lease terms and other negotiated terms and conditions. The Company, through its subsidiaries, retains substantially all of the risks and benefits of ownership of the real estate assets leased to the tenants. In addition, the Company may receive additional security under these operating leases in the form of letters of credit and security deposits from the lessee or guarantees from the parent of the lessee. Security deposits received in cash related to tenant leases are included in accounts payable and accrued liabilities in the accompanying condensed consolidated balance sheets and totaled $0.4 million as of June 30, 2015 and December 31, 2014 . As of June 30, 2015 , 80 of the Company's 172 real estate properties held for investment were leased to subsidiaries of Genesis. The Company monitors the creditworthiness of its tenants by reviewing credit ratings (if available) and evaluating the ability of the tenants to meet their lease obligations to the Company based on the tenants’ financial performance, including the evaluation of any parent guarantees (or the guarantees of other related parties) of tenant lease obligations. Because formal credit ratings may not be available for most of the Company’s tenants, the primary basis for the Company’s evaluation of the credit quality of its tenants (and more specifically the tenants’ ability to pay their rent obligations to the Company) is the tenants’ lease coverage ratios. These coverage ratios include earnings before interest, taxes, depreciation, amortization and rent (“EBITDAR”) to rent coverage and earnings before interest, taxes, depreciation, amortization, rent and management fees (“EBITDARM”) to rent coverage at the facility level and consolidated EBITDAR to total fixed charge coverage at the parent guarantor level when such a guarantee exists. The Company obtains various financial and operational information from its tenants each month and reviews this information in conjunction with the above-described coverage metrics to determine trends and the operational and financial impact of the environment in the industry (including the impact of government reimbursement) and the management of the tenant’s operations. These metrics help the Company identify potential areas of concern relative to its tenants’ credit quality and ultimately the tenants’ ability to generate sufficient liquidity to meet its obligations, including its obligation to continue to pay the rent due to the Company. As of June 30, 2015 , the future minimum rental payments from the Company’s properties under non-cancelable operating leases was as follows (in thousands): July 1, 2015 through December 31, 2015 $ 98,019 2016 201,174 2017 207,060 2018 212,935 2019 219,469 Thereafter 1,457,487 $ 2,396,144 Forest Park - Frisco Update In January 2015, the tenant of the Forest Park-Frisco hospital ("Frisco") became unable to pay its rent obligations and as of June 30, 2015 owed the Company rent of $4.5 million . In addition, the Company had $4.7 million of accumulated straight-line rental income receivable. In the second quarter of 2015, the Frisco tenant approached Sabra to discuss modifications to the hospital lease to provide additional operating flexibility. On May 29, 2015, the Company entered into a Memorandum of Understanding ("MOU") with the Frisco tenant to restructure the terms of the lease effective June 2015, subject to the tenant and the management company for Forest Park obtaining additional financing for Frisco. As of July 21, 2015, such financing had not yet been secured and Sabra amended the MOU (“Amended MOU”) to, among other things, revise the payment to be made towards outstanding rents from the proceeds of the new financing to $250,000 with the remaining outstanding rents due as of May 31, 2015 being paid over time beginning in 2016. As of August 4, 2015, the additional financing has not closed and there continues to be uncertainty around the timing of financing and the adequacy of such financing to provide the Frisco tenant with the necessary liquidity to operate under the modified lease terms. Due to this uncertainty, the Company has increased its reserve associated with rents due and the accumulated straight-line rental income receivable balance to $4.6 million as of June 30, 2015. This reserve resulted in a $3.0 million provision for doubtful accounts during the three months ended June 30, 2015 included in the accompanying condensed consolidated statements of income. As more clarity is obtained around the financing and its adequacy, the Company will continue to monitor and update the reserve requirements and will continue to evaluate alternative solutions, which may include selling the Frisco hospital investment, which could result in additional reserves in the future.

LOANS RECEIVABLE AND OTHER INVE

LOANS RECEIVABLE AND OTHER INVESTMENTS	6 Months Ended
	Jun. 30, 2015
Loans Receivable and Other Investments [Abstract]
LOANS RECEIVABLE AND OTHER INVESTMENTS	LOANS RECEIVABLE AND OTHER INVESTMENTS As of June 30, 2015 and December 31, 2014 , the Company’s loans receivable and other investments consisted of the following (dollars in thousands): Investment Quantity Facility Type Principal Balance as of June 30, 2015 Book Value as of June 30, 2015 Book Value as of Weighted Average Contractual Interest Rate / Rate of Return Weighted Average Annualized Effective Interest Rate / Rate of Return Maturity Date Loans Receivable: Mortgage 6 Skilled Nursing / Senior Housing / Acute Care Hospital $ 161,934 $ 162,258 $ 144,383 8.4 % 8.2 % 10/13/15 - 4/30/18 Construction 3 Acute Care Hospital / Senior Housing 70,910 71,170 65,525 7.7 % 7.6 % 9/30/16 - 10/31/18 Mezzanine 2 Skilled Nursing / Senior Housing 19,819 19,867 21,491 11.3 % 11.1 % 9/30/15 - 8/31/17 Pre-development 3 Senior Housing 2,454 2,541 3,777 9.0 % 7.5 % 1/28/17 - 9/09/17 14 255,117 255,836 235,176 8.4 % 8.3 % Other Investments: Preferred Equity 8 Skilled Nursing / Senior Housing 22,332 22,671 16,407 13.0 % 13.0 % N/A Total 22 $ 277,449 $ 278,507 $ 251,583 8.8 % 8.7 % On a quarterly basis, the Company reviews credit quality indicators of its loans receivable and other investments such as payment status, changes affecting the underlying real estate collateral (for collateral dependent loans), changes affecting the operations of the facilities securing the loans, and national and regional economic factors. The Company considers a loan to be impaired when, based upon current information and events, it believes that it is probable that the Company will be unable to collect all amounts due under the contractual terms of the loan agreement resulting from the borrower’s failure to repay contractual amounts due, the granting of a concession by the Company or the Company’s expectation that it will receive assets with fair values less than the carrying value of the loan in satisfaction of the loan. As of June 30, 2015, the deferred interest under the Forest Park - Dallas (“Dallas”) mortgage loan totaled $1.9 million . Under the terms of the amended loan agreement entered into in February 2015, the borrower under the Dallas mortgage loan (“Dallas Borrower”) is required to pay all rents received from the Dallas hospital tenant toward its interest obligations to the Company. Contractual rents due under the lease agreement are sufficient to fully repay the remaining deferred amounts by mid-2016 and future contractual rent payments due under the lease agreement are adequate to allow the Dallas Borrower to timely service its debt obligations to the Company in the future. In addition, the Company's $110.0 million investment in the Dallas mortgage loan is less than the estimated fair value of the real estate collateral, based on a third party appraisal of the real estate. As of June 30, 2015, based on the Company's assessment, the Company’s loan investments were performing under the terms of the respective agreements and none were considered to be impaired.

DEBT

DEBT	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
DEBT	DEBT Mortgage Indebtedness The Company’s mortgage notes payable consist of the following (dollars in thousands): Interest Rate Type Book Value as of June 30, 2015 Book Value as of December 31, 2014 Weighted Average Effective Interest Rate at June 30, 2015 (1) Maturity Date Fixed Rate $ 142,252 $ 124,022 3.77 % December 2021 - (1) Weighted average effective rate includes private mortgage insurance. Mortgage Debt Assumption. In June 2015, in connection with the acquisition of the Canadian Portfolio, the Company assumed three existing mortgage loans with outstanding principal amounts totaling CAD $24.2 million (U.S. $19.7 million ) with annual interest rates of 3.74% . The assumed mortgage loans mature in December 2021. Mortgage Debt Modification. In March 2015, the Company modified six existing mortgage notes insured by the United States Department of Housing and Urban Development (“HUD”) totaling $59.2 million . The Company maintained the original maturity dates and reduced the weighted average interest rate from 4.39% to 3.98% per annum. Senior Unsecured Notes 2021 Notes and 2023 Notes The Company’s senior unsecured notes consist of the following (dollars in thousands): Principal Balance as of Title Maturity Date June 30, 2015 (1) December 31, 2014 (1) 5.5% senior unsecured notes due 2021 (“2021 Notes”) February 1, 2021 $ 500,000 $ 500,000 5.375% senior unsecured notes due 2023 (“2023 Notes”) June 1, 2023 200,000 200,000 $ 700,000 $ 700,000 (1) Outstanding principal balance for Senior Notes does not include discount of $0.7 million as of June 30, 2015 and December 31, 2014. The 2021 Notes and the 2023 Notes (collectively, the “Senior Notes”) were issued by the Operating Partnership and Sabra Capital Corporation, wholly owned subsidiaries of the Company (the “Issuers”). The 2021 Notes accrue interest at a rate of 5.5% per annum payable semiannually on February 1 and August 1 of each year and the 2023 Notes accrue interest at a rate of 5.375% per annum payable semiannually on June 1 and December 1 of each year. The obligations under the Senior Notes are fully and unconditionally guaranteed, jointly and severally, on an unsecured basis, by Sabra and certain of Sabra’s other existing and, subject to certain exceptions, future material subsidiaries; provided, however, that such guarantees are subject to release under certain customary circumstances. See Note 11, “Summarized Condensed Consolidating Information” for additional information concerning the circumstances pursuant to which the guarantors will be automatically and unconditionally released from their obligations under the guarantees. The indentures governing the Senior Notes (the “Senior Notes Indentures”) include customary events of default and require us to comply with specified restrictive covenants. As of June 30, 2015 , the Company was in compliance with all applicable financial covenants under the Senior Notes Indentures. 2018 Notes On January 8, 2014, the Company commenced a cash tender offer with respect to the remaining $211.3 million aggregate principal amount of 8.125% senior unsecured notes due 2018 (the “2018 Notes”) then outstanding that were originally issued by the Issuers in October 2010 and July 2012. Pursuant to the tender offer, the Company retired $210.9 million of the 2018 Notes at a premium of 109.837% , plus accrued and unpaid interest, on January 23, 2014. Pursuant to the terms of the indenture governing the 2018 Notes, the remaining $0.4 million of the 2018 Notes were called and were retired on February 11, 2014 at a redemption price of 109.485% plus accrued and unpaid interest. The tender offer and redemption resulted in $21.6 million of tender offer and redemption related costs and write-offs for the six months ended June 30, 2014, including $20.8 million in payments made to noteholders for early redemption and $0.8 million of write-offs associated with unamortized deferred financing and premium costs. These amounts are included in loss on extinguishment of debt on the accompanying condensed consolidated statements of income for the six months ended June 30, 2014. Revolving Credit Facility The Operating Partnership has entered into an unsecured revolving credit facility (the “Revolving Credit Facility”) that provides for a borrowing capacity of $650.0 million and an accordion feature allowing for an additional $100.0 million of capacity, subject to terms and conditions. On October 10, 2014, the Operating Partnership converted $200.0 million of the outstanding borrowings under the Revolving Credit Facility to a term loan. Concurrent with the term loan conversion, the Company entered into a five -year interest rate cap contract that caps LIBOR at 2.0% . The Revolving Credit Facility, including amounts that are converted into a term loan, has a maturity date of September 10, 2018, and includes a one year extension option. In addition to the $200.0 million term loan, as of June 30, 2015 , there was $122.0 million outstanding under the Revolving Credit Facility and $328.0 million available for borrowing. Borrowings under the Revolving Credit Facility bear interest on the outstanding principal amount at a rate equal to an applicable percentage plus, at the Operating Partnership's option, either (a) LIBOR or (b) the Base Rate, with such percentage varying based on the Consolidated Leverage Ratio, each term as defined in the credit agreement for the Revolving Credit Facility. As of June 30, 2015 , the interest rate on the Revolving Credit Facility was 2.29% . In addition, the Operating Partnership pays a fee to the lenders equal to 0.25% or 0.35% per annum based on the amount of unused borrowings under the Revolving Credit Facility. During the three and six months ended June 30, 2015 , the Company incurred $0.3 million and $0.5 million , respectively, in interest expense on amounts outstanding under the Revolving Credit Facility. During the three and six months ended June 30, 2015, the Company incurred $0.4 million and $0.7 million , respectively, of unused facility fees. The obligations of the Operating Partnership under the Revolving Credit Facility are guaranteed by Sabra and certain subsidiaries of Sabra. The Revolving Credit Facility contains customary restrictive covenants as well as customary events of default. The Revolving Credit Facility also requires Sabra, through the Operating Partnership, to comply with specified financial covenants, which include a maximum leverage ratio, a minimum fixed charge coverage ratio and a minimum tangible net worth requirement. As of June 30, 2015 , the Company was in compliance with all applicable financial covenants under the Revolving Credit Facility. Canadian Term Loan On June 10, 2015, Sabra Canadian Holdings, LLC, a wholly-owned subsidiary of the Company, entered into a new Canadian dollar denominated term loan of CAD $90.0 million (U.S. $73.2 million ) (the "Canadian Term Loan") with a variable interest rate of the Canadian Dollar Offer Rate (“CDOR”) plus 2.00% - 2.60% depending on the Company's consolidated leverage ratio. The Canadian Term Loan matures on June 10, 2020. Concurrently with entering into the Canadian Term Loan, the Company entered into an interest rate swap agreement to fix the CDOR portion of the interest rate for this term loan at 1.59% . The obligations under the Canadian Term Loan are guaranteed by Sabra and certain subsidiaries of Sabra. The Canadian Term Loan contains customary restrictive covenants as well as customary events of default. The Canadian Term Loan also requires Sabra, through the Operating Partnership, to comply with specified financial covenants, which include a maximum leverage ratio, a minimum fixed charge coverage ratio and a minimum tangible net worth requirement. As of June 30, 2015 , the Company was in compliance with all applicable financial covenants under the Canadian Term Loan. Interest Expense During the three and six months ended June 30, 2015 , the Company incurred interest expense of $14.1 million and $27.9 million , respectively, and $11.0 million and $22.1 million during the three and six months ended June 30, 2014, respectively. Interest expense includes deferred financing costs amortization of $1.3 million and $2.5 million for the three and six months ended June 30, 2015, respectively, and $0.9 million and $1.9 million for the three and six months ended June 30, 2014, respectively. As of June 30, 2015 and December 31, 2014 , the Company had $13.1 million and $ 13.2 million , respectively, of accrued interest included in accounts payable and accrued liabilities on the accompanying condensed consolidated balance sheets. Maturities The following is a schedule of maturities for the Company’s outstanding debt as of June 30, 2015 (in thousands): Mortgage Indebtedness Senior Notes (1) Revolving Credit Facility (2) Term Loans (2) Total July 1, 2015 through December 31, 2015 $ 1,705 $ — $ — $ — $ 1,705 2016 3,494 — — — 3,494 2017 3,608 — — — 3,608 2018 3,727 — 122,000 200,000 325,727 2019 3,849 — — — 3,849 Thereafter 125,869 700,000 — 72,846 898,715 $ 142,252 $ 700,000 $ 122,000 $ 272,846 $ 1,237,098 (1) Outstanding principal balance for Senior Notes does not include discount of $0.7 million as of June 30, 2015 . (2) Revolving Credit Facility and U.S. term loan are subject to a one -year extension option.

DERIVATIVE AND HEDGING INSTRUME

DERIVATIVE AND HEDGING INSTRUMENTS	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE AND HEDGING INSTRUMENTS	DERIVATIVE AND HEDGING INSTRUMENTS The Company is exposed to various market risks, including the potential loss arising from adverse changes in interest rates and foreign exchange rates. The Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates and foreign exchange rates. The Company’s derivative financial instruments are used to manage differences in the amount of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s investments and borrowings. Certain of the Company’s foreign operations expose the Company to fluctuations of foreign interest rates and exchange rates. These fluctuations may impact the value of the Company’s cash receipts and payments in terms of the Company’s functional currency. The Company enters into derivative financial instruments to protect the value or fix the amount of certain obligations in terms of its functional currency, the U.S. dollar. The Company does not enter into derivatives for speculative purposes. Cash Flow Hedges The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish these objectives, the Company primarily uses interest rate swaps and caps as part of its interest rate risk management strategy. The notional value of the Company's interest rate cap was $200.0 million as of each of June 30, 2015 and December 31, 2014 , respectively. The notional value of the Company's interest rate swap was CAD $90.0 million as of June 30, 2015 . Approximately $0.9 million of losses, which are included in accumulated other comprehensive loss, are expected to be reclassified into earnings in the next 12 months. Net Investment Hedges The Company is exposed to fluctuations in foreign exchange rates on investments it holds in Canadian entities. The Company uses cross currency interest rate swaps to hedge its exposure to changes in foreign exchange rates on these foreign investments. The notional value of these contracts was CAD $56.3 million as of June 30, 2015 . The Company also holds a CAD $90.0 million term loan which was designated as a net investment hedge. The Company did no t hold any net investment hedges as of December 31, 2014 . The following is a summary of the derivative and financial instruments designated as hedging instruments held by the Company at June 30, 2015 and December 31, 2014 (in thousands): June 30, 2015 December 31, 2014 Maturity Dates Type Designation Count Fair Value Balance Sheet Location Assets: Interest rate cap Cash Flow 1 $ 3,066 $ 4,618 2019 Prepaid expenses, deferred financing costs and other assets, net Liabilities: Interest rate swap Cash Flow 1 $ 1,137 $ — 2020 Accounts payable and accrued liabilities Cross currency interest rate swaps Net Investment 2 164 — 2025 Accounts payable and accrued liabilities CAD Term Loan Net Investment 1 72,846 — 2020 Term loans $ 74,147 $ — The following presents the effect of the Company’s derivative financial instruments on the condensed consolidated statements of income and the condensed consolidated statements of equity for the three and six months ended June 30, 2015 : Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion) Gain (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income (Effective Portion) Income Statement Location Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Cash Flow Hedges: Interest Rate Products $ (1,169 ) $ (2,714 ) $ (25 ) $ (25 ) Interest Expense Net Investment Hedges: Foreign Currency Products (164 ) (164 ) — — N/A CAD Term Loan (396 ) (396 ) — — N/A $ (1,729 ) $ (3,274 ) $ (25 ) $ (25 ) During the three and six months ended June 30, 2015, the Company recorded no hedge ineffectiveness in earnings. Offsetting Derivatives We enter into master netting arrangements, which reduce credit risk by permitting net settlement of transactions with the same counterparty. The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of June 30, 2015: Gross Amounts Not Offset in the Balance Sheet Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 3,066 $ — $ 3,066 $ (32 ) $ — $ 3,034 Offsetting Liabilities: Derivatives $ 1,301 $ — $ 1,301 $ (32 ) $ — $ 1,269 Credit-risk-related Contingent Features The Company has agreements with each of its derivative counterparties that contain a provision where if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations. As of June 30, 2015, the fair value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $1.6 million . As of June 30, 2015, the Company has not posted any collateral related to these agreements. If the Company had breached any of these provisions at June 30, 2015, it could have been required to settle its obligations under the agreements at their termination value of $1.6 million .

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	FAIR VALUE DISCLOSURES The fair value for certain financial instruments is derived using a combination of market quotes, pricing models and other valuation techniques that involve significant management judgment. The price transparency of financial instruments is a key determinant of the degree of judgment involved in determining the fair value of the Company’s financial instruments. Financial instruments for which actively quoted prices or pricing parameters are available and whose markets contain orderly transactions will generally have a higher degree of price transparency than financial instruments whose markets are inactive or consist of non-orderly trades. The Company evaluates several factors when determining if a market is inactive or when market transactions are not orderly. The carrying values of cash and cash equivalents, restricted cash, accounts payable, accrued liabilities, the Revolving Credit Facility and term loans are reasonable estimates of fair value because of the short-term maturities of these instruments. Fair values for other financial instruments are derived as follows: Loans receivable: These instruments are presented in the accompanying condensed consolidated balance sheets at their amortized cost and not at fair value. The fair value of the loans receivable were estimated using an internal valuation model that considered the expected cash flows for the loans receivable, the underlying collateral value and other credit enhancements. Preferred equity investments: These instruments are presented in the accompanying condensed consolidated balance sheets at their cost and not at fair value. The fair value of the preferred equity investments were estimated using an internal valuation model that considered the expected future cash flows for the preferred equity investment, the underlying collateral value and other credit enhancements. Derivative instruments: The Company’s derivative instruments are presented at fair value on the accompanying condensed consolidated balance sheets. The Company estimates the fair value of derivative instruments, including its interest rate cap, interest rate swap and cross currency swaps, using the assistance of a third party using inputs that are observable in the market, which includes forward yield curves and other relevant information. As such, the Company classifies these inputs as Level 2 inputs. Senior Notes: These instruments are presented in the accompanying condensed consolidated balance sheets at their cost and not at fair value. The fair values of the Senior Notes were determined using third-party market quotes derived from orderly trades. Mortgage indebtedness: These instruments are presented in the accompanying condensed consolidated balance sheets at their cost and not at fair value. The fair values of the Company’s mortgage notes payable were estimated using a discounted cash flow analysis based on management’s estimates of current market interest rates for instruments with similar characteristics, including remaining loan term, loan-to-value ratio, type of collateral and other credit enhancements. The following are the face values, carrying amounts and fair values of the Company’s financial instruments as of June 30, 2015 and December 31, 2014 whose carrying amounts do not approximate their fair value (in thousands): June 30, 2015 December 31, 2014 Face Value (1) Carrying Amount (2) Fair Value Face Value (1) Carrying (2) Fair Value Financial assets: Loans receivable $ 255,117 $ 255,836 $ 259,771 $ 234,359 $ 235,176 $ 234,227 Preferred equity investments 22,332 22,671 24,341 16,125 16,407 17,115 Financial liabilities: Senior Notes 700,000 699,323 725,000 700,000 699,272 723,625 Mortgage indebtedness 142,252 142,252 141,962 124,022 124,022 122,131 (1) Face value represents amounts contractually due under the terms of the respective agreements. (2) Carrying amounts represent the book value of financial instruments and include unamortized premiums (discounts). The Company determined the fair value of financial instruments as of June 30, 2015 whose carrying amounts do not approximate their fair value with valuation methods utilizing the following types of inputs (in thousands): Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Total (Level 1) (Level 2) (Level 3) Financial assets: Loans receivable $ 259,771 $ — $ — $ 259,771 Preferred equity investments 24,341 — — 24,341 Financial liabilities: Senior Notes 725,000 — 725,000 — Mortgage indebtedness 141,962 — — 141,962 Disclosure of the fair value of financial instruments is based on pertinent information available to the Company at the applicable dates and requires a significant amount of judgment. Despite increased capital market and credit market activity, transaction volume for certain financial instruments remains relatively low. This has made the estimation of fair values difficult and, therefore, both the actual results and the Company’s estimate of fair value at a future date could be materially different. During the six months ended June 30, 2015 , the Company recorded the following amounts measured at fair value (in thousands): Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Total (Level 1) (Level 2) (Level 3) Recurring Basis: Financial assets: Interest rate cap $ 3,066 $ — $ 3,066 $ — Financial liabilities: Contingent consideration liability 4,100 — — 4,100 Interest rate swap 1,137 — 1,137 — Cross currency swap 164 — 164 — The Company’s contingent consideration liability is the result of one acquisition of real estate (see Note 4, “Real Estate Properties Held for Investment”). In order to determine the fair value of the Company’s contingent consideration liability, the Company used significant inputs not observable in the market to estimate the liability. In addition to using an appropriate discount rate, the Company used projections provided by the facilities to estimate future earnings at the facilities, then developed probability-weighted scenarios of the potential future performance of the tenant and the resulting payout from these scenarios. As of June 30, 2015 , the total contingent consideration liability was valued at $4.1 million . The following reconciliation provides the details of activity during the six months ended June 30, 2015 for contingent consideration liability recorded at fair value using Level 3 inputs: Balance as of December 31, 2014 $ 3,900 Increase in contingent liability 200 Balance as of June 30, 2015 $ 4,100 A corresponding amount equal to the increase in contingent liability was included as other expense on the accompanying condensed consolidated statements of income for the six months ended June 30, 2015 .

EQUITY

EQUITY	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
EQUITY	EQUITY Preferred Stock On March 21, 2013, the Company completed an underwritten public offering of 5.8 million shares of 7.125% Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock") at a price of $25.00 per share, pursuant to an effective registration statement. The Company received net proceeds of $138.3 million from the offering, after deducting underwriting discounts and other offering expenses. The Company classified the par value as preferred equity on its condensed consolidated balance sheets with the balance of the liquidation preference, net of any issuance costs, recorded as an increase in paid-in capital. The holders of the Company’s Series A Preferred Stock rank senior to the Company’s common stock with respect to dividend rights and rights upon the Company’s liquidation, dissolution or winding up of its affairs. At June 30, 2015 , there were no dividends in arrears. The Series A Preferred Stock does not have a stated maturity date, but the Company may redeem the Series A Preferred Stock on or after March 21, 2018, for $25.00 per share, plus any accrued and unpaid dividends. The Company may redeem the Series A Preferred Stock prior to March 21, 2018, in limited circumstances to preserve its status as a REIT or pursuant to a specified change of control. Upon the occurrence of a specified change of control, each holder of Series A Preferred Stock will have the right to convert some or all of the shares of Series A Preferred Stock held by such holder into a number of shares of the Company’s common stock equivalent to $25.00 plus accrued and unpaid dividends, but not to exceed a cap of 1.7864 shares of common stock per share of Series A Preferred Stock (subject to certain adjustments). Common Stock The following table lists the cash dividends on common stock declared and paid by the Company during the six months ended June 30, 2015 : Declaration Date Record Date Amount Per Share Dividend Payable Date January 12, 2015 February 13, 2015 $ 0.39 February 27, 2015 May 5, 2015 May 15, 2015 $ 0.39 May 29, 2015 On June 30, 2015, the Company completed an underwritten public offering of 5.9 million newly issued shares of its common stock pursuant to an effective registration statement. The Company received net proceeds, before expenses, of $147.9 million from the offering, after giving effect to the issuance and sale of all 5.9 million shares of common stock, at a price of $25.06 per share. These proceeds were primarily used to repay borrowings outstanding under the Revolving Credit Facility. On October 3, 2014, the Company completed an underwritten public offering of 6.9 million newly issued shares of its common stock pursuant to an effective registration statement. The Company received net proceeds, before expenses, of $ 160.6 million from the offering, after giving effect to the issuance and sale of all 6.9 million shares of common stock (which included 0.9 million shares sold to the underwriters upon exercise of their option to purchase additional shares), at a price to the public of $24.25 per share. These proceeds were used to repay borrowings outstanding under the Revolving Credit Facility. On May 12, 2014, the Company completed an underwritten public offering of 8.1 million newly issued shares of its common stock pursuant to an effective registration statement. The Company received net proceeds, before expenses, of $219.1 million from the offering, after giving effect to the issuance and sale of all 8.1 million shares of common stock (which included 1.1 million shares sold to the underwriters upon exercise of their option to purchase additional shares), at a price to the public of $28.35 per share. These proceeds were primarily used to repay borrowings outstanding under the Company's prior Revolving Credit Facility. During the six months ended June 30, 2015 , the Company issued 0.2 million shares of common stock as a result of restricted stock unit vestings and in connection with amounts payable under the Company's 2014 Bonus Plan pursuant to an election by certain participants to receive their bonus payment in shares of the Company's common stock. Upon any payment of shares as a result of restricted stock unit vestings, the participant is required to satisfy the related tax withholding obligation. The 2009 Performance Incentive Plan provides that the Company has the right at its option to (a) require the participant to pay such tax withholding or (b) reduce the number of shares to be delivered by a number of shares necessary to satisfy the related minimum applicable statutory tax withholding obligation. During the six months ended June 30, 2015 , pursuant to advance elections made by certain participants, the Company incurred $4.7 million in tax withholding obligations on behalf of its employees that were satisfied through a reduction in the number of shares delivered to those participants. At-The-Market Common Stock Offering Program (“ATM Program”) On December 1, 2014, the Company entered into a sales agreement (the “2014 Sales Agreements”) with each of Barclays Capital Inc., Cantor Fitzgerald & Co., Credit Agricole Securities (USA) Inc., Jefferies LLC, J.P. Morgan Securities LLC, MLV & Co. LLC, Raymond James & Associates, Inc., RBC Capital Markets, LLC, Stifel, Nicolaus & Company, Incorporated, SunTrust Robinson Humphrey, Inc. and Wells Fargo Securities, LLC (individually, a “Sales Agent” and together, the “Sales Agents”) to sell shares of its common stock, $0.01 par value per share, having aggregate gross proceeds of up to $200.0 million from time to time through the Sales Agents (the “2014 ATM Program”). Pursuant to the terms of the 2014 Sales Agreements, the shares may be sold by any method permitted by law deemed to be an “at-the-market” offering, including without limitation sales made directly on the NASDAQ Global Select Market, on any other existing trading market for our common stock or to or through a market maker. In addition, with the Company's prior consent, the Sales Agents may also sell shares in privately negotiated transactions. The Company will pay each Sales Agent a commission equal to 2% of the gross proceeds from the sales of shares sold pursuant to the applicable 2014 Sales Agreement. The offering of shares pursuant to any 2014 Sales Agreement will terminate upon the earlier of (i) the sale of the maximum aggregate amount of shares subject to the 2014 Sales Agreements, or (ii) termination of such 2014 Sales Agreement as permitted therein. The Company is not obligated to sell and the Sales Agents are not obligated to buy or sell any shares under the 2014 Sales Agreements. The Company sold no shares under the 2014 ATM Program during the six months ended June 30, 2015. As of June 30, 2015 , shares of the Company's common stock having an aggregate offering price of $76.5 million were available for sale under the 2014 ATM Program.

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	EARNINGS PER COMMON SHARE The following table illustrates the computation of basic and diluted earnings per share for the three and six months ended June 30, 2015 and 2014 (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Numerator Net income attributable to common stockholders $ 14,275 $ 12,241 $ 31,164 $ 2,377 Denominator Basic weighted average common shares and common equivalents 59,323,799 43,655,292 59,254,895 41,324,795 Dilutive restricted stock units 219,982 441,005 255,269 466,675 Diluted weighted average common shares 59,543,781 44,096,297 59,510,164 41,791,470 Net income attributable to common stockholders, per: Basic common share $ 0.24 $ 0.28 $ 0.53 $ 0.06 Diluted common share $ 0.24 $ 0.28 $ 0.52 $ 0.06 Certain restricted stock units are considered participating securities because dividend payments are not forfeited even if the underlying award does not vest. Accordingly, the Company uses the two-class method when computing basic and diluted earnings per share. During the three and six months ended June 30, 2015 approximately 10,700 and 11,000 restricted stock units, respectively, were not included because they were considered anti-dilutive. During the three and six months ended June 30, 2014, approximately 9,000 and 10,000 restricted stock units, respectively, were not included because they were anti-dilutive. No stock options were considered anti-dilutive during the three and six months ended June 30, 2014. No stock options were outstanding during the six months ended June 30, 2015.

SUMMARIZED CONDENSED CONSOLIDAT

SUMMARIZED CONDENSED CONSOLIDATING INFORMATION	6 Months Ended
	Jun. 30, 2015
SUMMARIZED CONDENSED CONSOLIDATING INFORMATION [Abstract]
SUMMARIZED CONDENSED CONSOLIDATING INFORMATION	SUMMARIZED CONDENSED CONSOLIDATING INFORMATION In connection with the offerings of the Senior Notes by the Issuers, the Company and certain 100% owned subsidiaries of the Company (the “Guarantors”) have, jointly and severally, fully and unconditionally guaranteed the Senior Notes, subject to release under certain customary circumstances as described below. These guarantees are subordinated to all existing and future senior debt and senior guarantees of the Guarantors and are unsecured. The Company conducts all of its business through and derives virtually all of its income from its subsidiaries. Therefore, the Company’s ability to make required payments with respect to its indebtedness (including the Senior Notes) and other obligations depends on the financial results and condition of its subsidiaries and its ability to receive funds from its subsidiaries. A Guarantor will be automatically and unconditionally released from its obligations under the guarantees with respect to the Senior Notes in the event of: • Any sale of the subsidiary Guarantor or of all or substantially all of its assets; • A merger or consolidation of a subsidiary Guarantor with an issuer of the Senior Notes or another Guarantor, provided that the surviving entity remains a Guarantor; • A subsidiary Guarantor is declared “unrestricted” for covenant purposes under the Senior Notes Indentures; • The requirements for legal defeasance or covenant defeasance or to discharge the Senior Notes Indentures have been satisfied; • A liquidation or dissolution, to the extent permitted under the Senior Notes Indentures, of a subsidiary Guarantor; and • The release or discharge of the guaranty that resulted in the creation of the subsidiary guaranty, except a discharge or release by or as a result of payment under such guaranty. The Guarantors were also subject to the guarantees described above while the 2018 Notes were outstanding, but such guarantees were released following the redemption of all of the remaining 2018 Notes in the six months ended June 30, 2014. As of June 30, 2015, no 2018 Notes were outstanding. Pursuant to Rule 3-10 of Regulation S-X, the following summarized condensed consolidating information is provided for the Company (the “Parent Company”), the Issuers, the Guarantors, and the Company’s non-Guarantor subsidiaries with respect to the Senior Notes. This summarized financial information has been prepared from the books and records maintained by the Company, the Issuers, the Guarantors and the non-Guarantor subsidiaries. The summarized financial information may not necessarily be indicative of the results of operations or financial position had the Issuers, the Guarantors or non-Guarantor subsidiaries operated as independent entities. Sabra’s investments in its consolidated subsidiaries are presented based upon Sabra's proportionate share of each subsidiary's net assets. The Guarantor subsidiaries’ investments in the non-Guarantor subsidiaries and non-Guarantor subsidiaries’ investments in Guarantor subsidiaries are presented under the equity method of accounting. Intercompany activities between subsidiaries and the Parent Company are presented within operating activities on the condensed consolidating statement of cash flows. Condensed consolidating financial statements for the Company and its subsidiaries, including the Parent Company only, the Issuers, the combined Guarantor subsidiaries and the combined non-Guarantor subsidiaries, are as follows: CONDENSED CONSOLIDATING BALANCE SHEET June 30, 2015 (in thousands) (unaudited) Parent Company Issuers Combined Guarantor Subsidiaries Combined Non- Guarantor Subsidiaries Elimination Consolidated Assets Real estate investments, net of accumulated depreciation $ 44 $ — $ 1,766,502 $ 167,285 $ — $ 1,933,831 Loans receivable and other investments, net — — 278,507 — — 278,507 Cash and cash equivalents 2,455 — — 3,587 — 6,042 Restricted cash — — 160 6,933 — 7,093 Prepaid expenses, deferred financing costs and other assets, net 2,269 23,870 76,491 9,699 — 112,329 Intercompany 577,489 795,386 — — (1,372,875 ) — Investment in subsidiaries 495,905 712,059 27,023 — (1,234,987 ) — Total assets $ 1,078,162 $ 1,531,315 $ 2,148,683 $ 187,504 $ (2,607,862 ) $ 2,337,802 Liabilities Mortgage notes $ — $ — $ — $ 142,252 $ — $ 142,252 Revolving credit facility — 122,000 — — — 122,000 Term loans — 200,000 72,846 — — 272,846 Senior unsecured notes — 699,323 — — — 699,323 Accounts payable and accrued liabilities 7,291 14,087 8,406 789 — 30,573 Intercompany — — 1,360,918 11,957 (1,372,875 ) — Total liabilities 7,291 1,035,410 1,442,170 154,998 (1,372,875 ) 1,266,994 Total Sabra Health Care REIT, Inc. stockholders' equity 1,070,871 495,905 706,513 32,569 (1,234,987 ) 1,070,871 Noncontrolling interests — — — (63 ) — (63 ) Total equity 1,070,871 495,905 706,513 32,506 (1,234,987 ) 1,070,808 Total liabilities and equity $ 1,078,162 $ 1,531,315 $ 2,148,683 $ 187,504 $ (2,607,862 ) $ 2,337,802 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2014 (in thousands) Parent Company Issuers Combined Guarantor Subsidiaries Combined Non- Guarantor Subsidiaries Elimination Consolidated Assets Real estate investments, net of accumulated depreciation $ 60 $ — $ 1,505,974 $ 139,771 $ — $ 1,645,805 Loans receivable and other investments, net — — 251,583 — — 251,583 Cash and cash equivalents 58,799 — — 2,994 — 61,793 Restricted cash — — 160 6,864 — 7,024 Prepaid expenses, deferred financing costs and other assets, net 586 27,803 62,325 7,973 — 98,687 Intercompany 444,499 757,676 — — (1,202,175 ) — Investment in subsidiaries 447,916 642,611 25,057 — (1,115,584 ) — Total assets $ 951,860 $ 1,428,090 $ 1,845,099 $ 157,602 $ (2,317,759 ) $ 2,064,892 Liabilities Mortgage notes $ — $ — $ — $ 124,022 $ — $ 124,022 Revolving credit facility — 68,000 — — — 68,000 Term loan — 200,000 — — — 200,000 Senior unsecured notes — 699,272 — — — 699,272 Accounts payable and accrued liabilities 9,994 12,902 7,422 1,457 — 31,775 Intercompany — — 1,198,779 3,396 (1,202,175 ) — Total liabilities 9,994 980,174 1,206,201 128,875 (1,202,175 ) 1,123,069 Total Sabra Health Care REIT, Inc. stockholders' equity 941,866 447,916 638,898 28,770 (1,115,584 ) 941,866 Noncontrolling interests — — — (43 ) — (43 ) Total equity 941,866 447,916 638,898 28,727 (1,115,584 ) 941,823 Total liabilities and equity $ 951,860 $ 1,428,090 $ 1,845,099 $ 157,602 $ (2,317,759 ) $ 2,064,892 CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Three Months Ended June 30, 2015 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Guarantor Subsidiaries Combined Non- Guarantor Subsidiaries Elimination Consolidated Revenues: Rental income $ — $ — $ 44,888 $ 5,008 $ — $ 49,896 Interest and other income — 74 5,925 691 — 6,690 Total revenues — 74 50,813 5,699 — 56,586 Expenses: Depreciation and amortization 14 — 12,981 1,502 — 14,497 Interest — 12,665 136 1,251 — 14,052 General and administrative 3,589 2 5,714 557 — 9,862 Provision for doubtful accounts and write-offs (136 ) — 3,108 — — 2,972 Total expenses 3,467 12,667 21,939 3,310 — 41,383 Other income (expense): Other (expense) income — — (100 ) — — (100 ) Gain on sale of real estate — — 1,723 — — 1,723 Total other income (expense) — — 1,623 — — 1,623 Income in subsidiaries 20,302 32,895 — — (53,197 ) — Net income 16,835 20,302 30,497 2,389 (53,197 ) 16,826 Net loss attributable to noncontrolling interests — — — 9 — 9 Net income attributable to Sabra Health Care REIT, Inc. 16,835 20,302 30,497 2,398 (53,197 ) 16,835 Preferred stock dividends (2,560 ) — — — — (2,560 ) Net income attributable to common stockholders $ 14,275 $ 20,302 $ 30,497 $ 2,398 $ (53,197 ) $ 14,275 Net income attributable to common stockholders, per: Basic common share $ 0.24 Diluted common share $ 0.24 Weighted-average number of common shares outstanding, basic 59,323,799 Weighted-average number of common shares outstanding, diluted 59,543,781 CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Three Months Ended June 30, 2014 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Combined Non- Elimination Consolidated Revenues: Rental income $ — $ — $ 29,795 $ 7,690 $ — $ 37,485 Interest and other income 3 — 4,806 679 — 5,488 Total revenues 3 — 34,601 8,369 — 42,973 Expenses: Depreciation and amortization 13 — 7,725 2,017 — 9,755 Interest — 7,964 1,613 1,417 — 10,994 General and administrative 3,869 1 588 573 — 5,031 Provision for doubtful accounts and write-offs — — 2,895 — — 2,895 Total expenses 3,882 7,965 12,821 4,007 — 28,675 Other (expense) income: Loss on extinguishment of debt — (70 ) — (92 ) — (162 ) Other income (expense) — — 660 — — 660 Total other (expense) income — (70 ) 660 (92 ) — 498 Income in subsidiaries 18,680 26,715 1,078 — (46,473 ) — Net income 14,801 18,680 23,518 4,270 (46,473 ) 14,796 Net loss attributable to noncontrolling interests — — — 5 — 5 Net income attributable to Sabra Health Care REIT, Inc. 14,801 18,680 23,518 4,275 (46,473 ) 14,801 Preferred dividends (2,560 ) — — — — (2,560 ) Net income attributable to common stockholders $ 12,241 $ 18,680 $ 23,518 $ 4,275 $ (46,473 ) $ 12,241 Net loss attributable to common stockholders, per: Basic common share $ 0.28 Diluted common share $ 0.28 Weighted-average number of common shares outstanding, basic 43,655,292 Weighted-average number of common shares outstanding, diluted 44,096,297 CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Six Months Ended June 30, 2015 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Guarantor Subsidiaries Combined Non- Guarantor Subsidiaries Elimination Consolidated Revenues: Rental income $ — $ — $ 89,489 $ 9,912 $ — $ 99,401 Interest and other income 1 72 11,309 1,375 — 12,757 Total revenues 1 72 100,798 11,287 — 112,158 Expenses: Depreciation and amortization 27 — 25,683 2,937 — 28,647 Interest — 25,216 136 2,580 — 27,932 General and administrative 9,491 3 6,128 1,099 — 16,721 Provision for doubtful accounts and write-offs (600 ) — 4,716 — — 4,116 Total expenses 8,918 25,219 36,663 6,616 — 77,416 Other income (expense): Other (expense) income — — (200 ) — — (200 ) Gain on sale of real estate — — 1,723 — — 1,723 Total other income (expense) — — 1,523 — — 1,523 Income in subsidiaries 45,202 70,349 — — (115,551 ) — Net income 36,285 45,202 65,658 4,671 (115,551 ) 36,265 Net loss attributable to noncontrolling interests — — — 20 — 20 Net income attributable to Sabra Health Care REIT, Inc. 36,285 45,202 65,658 4,691 (115,551 ) 36,285 Preferred stock dividends (5,121 ) — — — — (5,121 ) Net income attributable to common stockholders $ 31,164 — $ 45,202 $ 65,658 — $ 4,691 $ (115,551 ) $ 31,164 Net income attributable to common stockholders, per: Basic common share $ 0.53 Diluted common share $ 0.52 Weighted-average number of common shares outstanding, basic 59,254,895 Weighted-average number of common shares outstanding, diluted 59,510,164 CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Six Months Ended June 30, 2014 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Combined Non- Elimination Consolidated Revenues: Rental income — — 58,572 15,006 — 73,578 Interest and other income 7 — 8,898 1,340 — 10,245 Total revenues 7 — 67,470 16,346 — 83,823 Expenses: Depreciation and amortization 25 — 15,146 3,934 — 19,105 Interest — 15,754 3,488 2,886 — 22,128 General and administrative 8,559 2 934 1,290 — 10,785 Provision for doubtful accounts and write-offs — — 2,994 — — 2,994 Total expenses 8,584 15,756 22,562 8,110 — 55,012 Other (expense) income: Loss on extinguishment of debt — (21,689 ) — (607 ) — (22,296 ) Other income (expense) — — 960 — — 960 Total other (expense) income — (21,689 ) 960 (607 ) — (21,336 ) Income in subsidiaries 16,075 53,520 2,419 — (72,014 ) — Net income 7,498 16,075 48,287 7,629 (72,014 ) 7,475 Net loss attributable to noncontrolling interests — — — 23 — 23 Net income attributable to Sabra Health Care REIT, Inc. 7,498 16,075 48,287 7,652 (72,014 ) 7,498 Preferred dividends (5,121 ) — — — — (5,121 ) Net income attributable to common stockholders 2,377 16,075 48,287 7,652 (72,014 ) 2,377 Net income attributable to common stockholders, per: Basic common share 0.06 Diluted common share 0.06 Weighted-average number of common shares outstanding, basic 41,324,795 Weighted-average number of common shares outstanding, diluted 41,791,470 CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Three Months Ended June 30, 2015 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Guarantor Subsidiaries Combined Non- Guarantor Subsidiaries Elimination Consolidated Net income $ 16,835 $ 20,302 $ 30,497 $ 2,389 $ (53,197 ) $ 16,826 Other comprehensive loss: Foreign currency translation — (164 ) (326 ) (105 ) — (595 ) Unrealized loss on cash flow hedge — (1,144 ) — — — (1,144 ) Comprehensive income 16,835 18,994 30,171 2,284 (53,197 ) 15,087 Comprehensive loss attributable to noncontrolling interest — — — 9 — 9 Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 16,835 $ 18,994 $ 30,171 $ 2,293 $ (53,197 ) $ 15,096 CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Six Months Ended June 30, 2015 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Guarantor Subsidiaries Combined Non- Guarantor Subsidiaries Elimination Consolidated Net income $ 36,285 $ 45,202 $ 65,658 $ 4,671 $ (115,551 ) $ 36,265 Other comprehensive loss: Foreign currency translation — (164 ) (326 ) (105 ) — (595 ) Unrealized loss on cash flow hedge — (2,689 ) — — — (2,689 ) Comprehensive income 36,285 42,349 65,332 4,566 (115,551 ) 32,981 Comprehensive loss attributable to noncontrolling interest — — — 20 — 20 Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 36,285 $ 42,349 $ 65,332 $ 4,586 $ (115,551 ) $ 33,001 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Six Months Ended June 30, 2015 (in thousands) (unaudited) Parent Company Issuers Combined Combined Non- Elimination Consolidated Net cash provided by operating activities $ 37,007 $ — $ — $ 14,300 $ — $ 51,307 Cash flows from investing activities: Acquisitions of real estate — — (290,604 ) (11,247 ) — (301,851 ) Origination and fundings of loans receivable — — (21,737 ) — — (21,737 ) Preferred equity investments — — (5,131 ) — — (5,131 ) Additions to real estate (11 ) — (851 ) (171 ) — (1,033 ) Release of contingent consideration held in escrow — — 5,240 — — 5,240 Repayment of loans receivable — — 2,052 — — 2,052 Investment in subsidiaries (414 ) (414 ) — — 828 — Net proceeds from the sale of real estate — — 1,800 — — 1,800 Distribution from subsidiaries 1,355 1,355 — — (2,710 ) — Intercompany financing (182,815 ) (236,689 ) — — 419,504 — Net cash used in investing activities (181,885 ) (235,748 ) (309,231 ) (11,418 ) 417,622 (320,660 ) Cash flows from financing activities: Net repayments from revolving credit facility — 54,000 — — — 54,000 Proceeds from term loan — — 73,242 — — 73,242 Principal payments on mortgage notes — — — (1,340 ) — (1,340 ) Payments of deferred financing costs — (126 ) (700 ) (8 ) — (834 ) Issuance of common stock 140,062 — — — — 140,062 Dividends paid on common and preferred stock (51,343 ) — — — — (51,343 ) Contribution from parent — 414 — 414 (828 ) — Distribution to parent — (1,355 ) — (1,355 ) 2,710 — Intercompany financing — 182,815 236,689 — (419,504 ) — Net cash provided by (used in) financing activities 88,719 235,748 309,231 (2,289 ) (417,622 ) 213,787 Net (decrease) increase in cash and cash equivalents (56,159 ) — — 593 — (55,566 ) Effect of foreign currency translation on cash and cash equivalents (185 ) — — — — (185 ) Cash and cash equivalents, beginning of period 58,799 — — 2,994 — 61,793 Cash and cash equivalents, end of period $ 2,455 $ — $ — $ 3,587 $ — $ 6,042 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Six Months Ended June 30, 2014 (in thousands) (unaudited) Parent Company Issuers Combined Combined Non- Elimination Consolidated Net cash (used in) provided by operating activities $ (1,746 ) $ — $ — $ 30,667 $ — $ 28,921 Cash flows from investing activities: Acquisitions of real estate — — (108,650 ) (9,739 ) — (118,389 ) Origination of note receivable — — (38,373 ) — — (38,373 ) Preferred equity investment — — (6,458 ) — — (6,458 ) Additions to real estate — — (783 ) — — (783 ) Investment in subsidiaries (12,122 ) (12,122 ) — — 24,244 — Intercompany financing (160,248 ) (289,776 ) — — 450,024 — Net cash used in investing activities (172,370 ) (301,898 ) (154,264 ) (9,739 ) 474,268 (164,003 ) Cash flows from financing activities: Proceeds from issuance of senior unsecured notes — 350,000 — — — 350,000 Principal payments on senior unsecured notes — (211,250 ) — — — (211,250 ) Net proceeds from revolving credit facility — — (135,500 ) — — (135,500 ) Proceeds from mortgage notes — — — 57,703 — 57,703 Principal payments on mortgage notes — — — (87,733 ) — (87,733 ) Payments of deferred financing costs — (9,222 ) (12 ) (901 ) — (10,135 ) Issuance of common stock 219,899 — — — — 219,899 Dividends paid (37,125 ) — — — — (37,125 ) Contribution from parent — 12,122 — 12,122 (24,244 ) — Intercompany financing — 160,248 289,776 — (450,024 ) — Net cash provided by (used in) financing activities 182,774 301,898 154,264 (18,809 ) (474,268 ) 145,859 Net increase in cash and cash equivalents 8,658 — — 2,119 — 10,777 Cash and cash equivalents, beginning of period 3,551 — — 757 — 4,308 Cash and cash equivalents, end of period $ 12,209 $ — $ — $ 2,876 $ — $ 15,085

PRO FORMA FINANCIAL INFORMATION

PRO FORMA FINANCIAL INFORMATION	6 Months Ended
	Jun. 30, 2015
PRO FORMA FINANCIAL INFORMATION [Abstract]
PRO FORMA FINANCIAL INFORMATION	PRO FORMA FINANCIAL INFORMATION The following table summarizes, on an unaudited pro forma basis, the consolidated results of operations of the Company for the three and six months ended June 30, 2015 and 2014 . The Company acquired three skilled nursing/transitional care facilities and 10 senior housing facilities during the six months ended June 30, 2015 . The Company acquired six skilled nursing facilities and three senior housing facilities during the six months ended June 30, 2014 . The following unaudited pro forma information has been prepared to give effect to these acquisitions as if these acquisitions occurred on January 1, 2014. This pro forma information does not purport to represent what the actual results of operations of the Company would have been had these acquisitions occurred on January 1, 2014, nor does it purport to predict the results of operations for future periods. Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (in thousands, except share and per share amounts) Revenues $ 63,015 $ 50,307 $ 125,752 $ 100,341 Depreciation and amortization 16,583 12,259 33,191 24,574 Net income attributable to common stockholders 23,889 17,204 45,394 8,655 Net income attributable to common stockholders, per: Basic common share $ 0.40 $ 0.39 $ 0.77 $ 0.21 Diluted common share $ 0.40 $ 0.39 $ 0.76 $ 0.21 Weighted-average number of common shares outstanding, basic 59,323,799 43,655,292 59,254,895 41,324,795 Weighted-average number of common shares outstanding, diluted 59,543,781 44,096,297 59,510,164 41,791,470

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Environmental As an owner of real estate, the Company is subject to various environmental laws of federal, state and local governments. The Company is not aware of any environmental liability that could have a material adverse effect on its financial condition or results of operations. However, changes in applicable environmental laws and regulations, the uses and conditions of properties in the vicinity of the Company’s properties, the activities of its tenants and other environmental conditions of which the Company is unaware with respect to the properties could result in future environmental liabilities. As of June 30, 2015 , the Company does not expect that compliance with existing environmental laws will have a material adverse effect on the Company’s financial condition and results of operations. Income Taxes As a result of the Company’s separation from Sun effective November 15, 2010 (the “Separation Date”), the Company is the surviving taxpayer for income tax purposes. Accordingly, tax positions taken prior to the Separation Date remained the Company’s obligations after the Separation Date. Sun agreed to indemnify the Company against, among other things, federal, state and local taxes (including penalties and interest) related to periods prior to the Separation Date to the extent the deferred tax assets allocated to the Company are not sufficient and/or cannot be utilized to satisfy these taxes. Effective December 1, 2012, Sun was acquired by Genesis HealthCare LLC. As a result of its acquisition of Sun, Genesis HealthCare LLC became successor to the obligations of Sun described above. Effective February 2, 2015, Genesis HealthCare LLC combined with Skilled Healthcare Group, Inc. and now operates under the name Genesis Healthcare, Inc. Legal Matters From time to time, the Company is party to legal proceedings that arise in the ordinary course of its business. Management is not aware of any legal proceedings where the likelihood of a loss contingency is reasonably possible and the amount or range of reasonably possible losses is material to the Company's results of operations, financial condition or cash flows.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The Company evaluates subsequent events up until the date the condensed consolidated financial statements are issued. Dividend Declaration On August 4, 2015 , the Company announced that its board of directors declared a quarterly cash dividend of $0.41 per share of common stock. The dividend will be paid on August 31, 2015 to common stockholders of record as of the close of business on August 14, 2015 . On August 4, 2015 , the Company also announced that its board of directors declared a quarterly cash dividend of $0.4453125 per share of Series A Preferred Stock. The dividend will be paid on August 31, 2015 to preferred stockholders of record as of the close of business on August 14, 2015 .

SUMMARY OF SIGNIFICANT ACCOUN23

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Accounting	The accompanying condensed consolidated financial statements include the accounts of Sabra and its wholly owned subsidiaries as of June 30, 2015 and December 31, 2014 and for the periods ended June 30, 2015 and 2014. All significant intercompany transactions and balances have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the Securities and Exchange Commission (the “SEC”), including the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the unaudited condensed consolidated financial statements do not include all of the information and footnotes required by GAAP for financial statements. In the opinion of management, the financial statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair statement of the results for such periods. Operating results for the three and six months ended June 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 . For further information, refer to the Company’s consolidated financial statements and notes thereto for the year ended December 31, 2014 included in the Company’s 2014 Annual Report on Form 10-K filed with the SEC.
Variable Interest Entities	GAAP requires the Company to identify entities for which control is achieved through means other than voting rights and to determine which business enterprise is the primary beneficiary of variable interest entities (“VIEs”). A VIE is broadly defined as an entity with one or more of the following characteristics: (a) the total equity investment at risk is insufficient to finance the entity's activities without additional subordinated financial support; (b) as a group, the holders of the equity investment at risk lack (i) the ability to make decisions about the entity's activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; or (c) the equity investors have voting rights that are not proportional to their economic interests, and substantially all of the entity's activities either involve, or are conducted on behalf of, an investor that has disproportionately few voting rights. If the Company were determined to be the primary beneficiary of the VIE, the Company would consolidate investments in the VIE. The Company may change its original assessment of a VIE due to events such as modifications of contractual arrangements that affect the characteristics or adequacy of the entity's equity investments at risk and the disposal of all or a portion of an interest held by the primary beneficiary. The Company identifies the primary beneficiary of a VIE as the enterprise that has both: (i) the power to direct the activities of the VIE that most significantly impact the entity's economic performance; and (ii) the obligation to absorb losses or the right to receive benefits of the VIE that could be significant to the entity. The Company performs this analysis on an ongoing basis. As of June 30, 2015 , the Company identified one VIE, a senior housing facility leased to a 50%/50% RIDEA-compliant joint venture tenant, where it determined it was the primary beneficiary and has consolidated the operations of the facility in the accompanying condensed consolidated financial statements. As of June 30, 2015 , the Company determined that operations of the facility were not material to the Company’s results of operations, financial condition or cash flows. As it relates to investments in loans, in addition to the Company's assessment of VIEs and whether the Company is the primary beneficiary of those VIEs, the Company evaluates the loan terms and other pertinent facts to determine if the loan investment should be accounted for as a loan or as a real estate joint venture. If an investment has the characteristics of a real estate joint venture, including if the Company participates in the majority of the borrower's expected residual profit, the Company would account for the investment as an investment in a real estate joint venture and not as a loan investment. Expected residual profit is defined as the amount of profit, whether called interest or another name, such as an equity kicker, above a reasonable amount of interest and fees expected to be earned by a lender. At June 30, 2015 , none of the Company's investments in loans are accounted for as real estate joint ventures. As it relates to investments in joint ventures, based on the type of rights held by the limited partner(s), GAAP may preclude consolidation by the sole general partner in certain circumstances in which the general partner would otherwise consolidate the joint venture. The Company assesses limited partners' rights and their impact on the presumption of control of the limited partnership by the sole general partner when an investor becomes the sole general partner, and the Company reassesses if: there is a change to the terms or in the exercisability of the rights of the limited partners; the sole general partner increases or decreases its ownership of limited partnership interests; or there is an increase or decrease in the number of outstanding limited partnership interests. The Company also applies this guidance to managing member interests in limited liability companies.
Use of Estimates	Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates.
Reclassifications	Reclassifications Certain amounts in the Company’s condensed consolidated financial statements for prior periods have been reclassified to conform to the current period presentation. These reclassifications have not changed the results of operations of prior periods. As a result, certain reclassifications were made to the condensed consolidated statements of income and the condensed consolidated statements of cash flows for all periods presented.
Foreign Currency	Foreign Currency Certain of the Company's subsidiaries’ functional currencies are the local currencies of their respective foreign jurisdictions. The Company translates the results of operations of its foreign subsidiaries into U.S. dollars using average rates of exchange in effect during the period presented, and it translates balance sheet accounts using exchange rates in effect at the end of the period presented. The Company records resulting currency translation adjustments in accumulated other comprehensive income, a component of stockholders’ equity, on its condensed consolidated balance sheets, and it records foreign currency transaction gains and losses as a component of interest and other income on its condensed consolidated statements of income.
Derivative Instruments	Derivative Instruments The Company uses certain types of derivative instruments for the purpose of managing interest rate and currency risk. To qualify for hedge accounting, derivative instruments used for risk management purposes must effectively reduce the risk exposure that they are designed to hedge. In addition, at inception the Company must make an assessment that the transaction that the Company intends to hedge is probable of occurring and this assessment must be updated each reporting period. The Company recognizes all derivative instruments as assets or liabilities in the condensed consolidated balance sheets at their fair value. For derivatives designated and qualified as a hedge, the change in fair value of the effective portion of the derivatives is recognized in accumulated other comprehensive income (loss), whereas the change in fair value of the ineffective portion is recognized in earnings. Changes in the fair value of derivative instruments that are not designated in hedging relationships or that do not meet the criteria for hedge accounting would be recognized in earnings. As of June 30, 2015, all of the Company's derivative instruments meet the criteria for hedge accounting. The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objectives and strategy for undertaking various hedge transactions. This process includes designating all derivatives that are part of a hedging relationship to specific transactions as well as recognizing obligations or assets in the condensed consolidated balance sheets. The Company also assesses and documents, both at inception of the hedging relationship and on a quarterly basis thereafter, whether the derivatives are highly effective in offsetting the designated risks associated with the respective hedged items. If it is determined that a derivative ceases to be highly effective as a hedge, or that it is probable the underlying transaction will not occur, the Company would discontinue hedge accounting prospectively and record the appropriate adjustment to earnings based on the then-current fair value of the derivative.
Recently Issued Accounting Standards Update	Recently Issued Accounting Standards Update In January 2015, the FASB issued Accounting Standards Update (“ASU”) 2015-01, Income Statement–Extraordinary and Unusual (“ASU 2015-01”). ASU 2015-01 simplifies income statement presentation by eliminating the concept of extraordinary items. An entity will no longer be allowed to separately disclose extraordinary items, net of tax, in the income statement after income from continuing operations if an event or transaction is unusual in nature and occurs infrequently. ASU 2015-01 is effective for fiscal years and interim periods within those years beginning after December 15, 2015, with early adoption permitted, and may be applied either prospectively or retrospectively. The adoption of this guidance is not expected to have a material impact on the Company's consolidated financial statements. In February 2015, the FASB issued ASU 2015-02, Consolidation–Amendments to the Consolidation Analysis (Topic 810) (“ASU 2015-02”). ASU 2015-02 updates guidance related to accounting for consolidation of certain limited partnerships. ASU 2015-02 does not add or remove any of the five characteristics that determine if an entity is a VIE; however, it changes the manner in which a reporting entity assesses its ability to make decisions about the entity's activities. Additionally, ASU 2015-02 removes three of the six criteria that must be met for a fee arrangement to not be a VIE and modifies how an entity assesses interests held through related parties. ASU 2015-02 is effective for fiscal years and interim periods within those years beginning after December 15, 2015, with early adoption permitted. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements when adopted. In April 2015, the FASB issued ASU 2015-03, Interest–Imputation of Interest-Simplifying the Presentation of Debt Issuance Costs (Subtopic 835-30) (“ASU 2015-03”). ASU 2015-03 requires debt issuance costs related to a recognized debt liability paid to a third party other than the lender to be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption of this guidance is permitted for financial statements that have not been previously issued, and an entity should apply the new guidance on a retrospective basis, wherein the balance sheet of each individual period presented should be adjusted to reflect the period-specific effects of applying the new guidance. The adoption of this guidance is not expected to have a material impact on the Company's consolidated financial statements.

RECENT REAL ESTATE ACQUISITIO24

RECENT REAL ESTATE ACQUISITIONS (Tables)	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Schedule of Purchase Price Allocation	The consideration was allocated as follows (in thousands): Six Months Ended June 30, 2015 2014 Land $ 20,767 $ 11,939 Building and Improvements 294,911 126,855 Tenant Origination and Absorption Costs 4,421 2,075 Tenant Relationship 1,428 677 Total Consideration $ 321,527 $ 141,546

REAL ESTATE PROPERTIES HELD F25

REAL ESTATE PROPERTIES HELD FOR INVESTMENT (Tables)	6 Months Ended
	Jun. 30, 2015
Real Estate Investments, Net [Abstract]
Schedule of Real Estate Properties Held for Investment	The Company’s real estate properties held for investment consisted of the following (dollars in thousands): As of June 30, 2015 Property Type Number of Properties Number of Beds/Units Total Real Estate at Cost Accumulated Depreciation Total Real Estate Investments, Net Skilled Nursing/Transitional Care 106 11,813 $ 1,026,652 $ (166,313 ) $ 860,339 Senior Housing 64 6,112 944,831 (32,965 ) 911,866 Acute Care Hospitals 2 124 175,807 (14,225 ) 161,582 172 18,049 2,147,290 (213,503 ) 1,933,787 Corporate Level 276 (232 ) 44 $ 2,147,566 $ (213,735 ) $ 1,933,831 As of December 31, 2014 Property Type Number of Properties Number of Beds/Units Total Real Estate at Cost Accumulated Depreciation Total Real Estate Investments, Net Skilled Nursing/Transitional Care 103 11,336 $ 851,252 $ (151,978 ) $ 699,274 Senior Housing 55 5,258 804,475 (22,487 ) 781,988 Acute Care Hospitals 2 124 175,807 (11,324 ) 164,483 160 16,718 1,831,534 (185,789 ) 1,645,745 Corporate Level 265 (205 ) 60 $ 1,831,799 $ (185,994 ) $ 1,645,805 June 30, 2015 December 31, 2014 Building and improvements $ 1,833,604 $ 1,551,548 Furniture and equipment 95,818 82,812 Land improvements 3,646 3,646 Land 214,498 193,793 2,147,566 1,831,799 Accumulated depreciation (213,735 ) (185,994 ) $ 1,933,831 $ 1,645,805
Schedule of Future Minimum Rental Payments Receivable for Operating Leases	As of June 30, 2015 , the future minimum rental payments from the Company’s properties under non-cancelable operating leases was as follows (in thousands): July 1, 2015 through December 31, 2015 $ 98,019 2016 201,174 2017 207,060 2018 212,935 2019 219,469 Thereafter 1,457,487 $ 2,396,144

LOANS RECEIVABLE AND OTHER IN26

LOANS RECEIVABLE AND OTHER INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2015
Loans Receivable and Other Investments [Abstract]
Schedule of Loans Receivable and Other Investments	As of June 30, 2015 and December 31, 2014 , the Company’s loans receivable and other investments consisted of the following (dollars in thousands): Investment Quantity Facility Type Principal Balance as of June 30, 2015 Book Value as of June 30, 2015 Book Value as of Weighted Average Contractual Interest Rate / Rate of Return Weighted Average Annualized Effective Interest Rate / Rate of Return Maturity Date Loans Receivable: Mortgage 6 Skilled Nursing / Senior Housing / Acute Care Hospital $ 161,934 $ 162,258 $ 144,383 8.4 % 8.2 % 10/13/15 - 4/30/18 Construction 3 Acute Care Hospital / Senior Housing 70,910 71,170 65,525 7.7 % 7.6 % 9/30/16 - 10/31/18 Mezzanine 2 Skilled Nursing / Senior Housing 19,819 19,867 21,491 11.3 % 11.1 % 9/30/15 - 8/31/17 Pre-development 3 Senior Housing 2,454 2,541 3,777 9.0 % 7.5 % 1/28/17 - 9/09/17 14 255,117 255,836 235,176 8.4 % 8.3 % Other Investments: Preferred Equity 8 Skilled Nursing / Senior Housing 22,332 22,671 16,407 13.0 % 13.0 % N/A Total 22 $ 277,449 $ 278,507 $ 251,583 8.8 % 8.7 %

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Instrument [Line Items]
Schedule of Maturities of Debt	The following is a schedule of maturities for the Company’s outstanding debt as of June 30, 2015 (in thousands): Mortgage Indebtedness Senior Notes (1) Revolving Credit Facility (2) Term Loans (2) Total July 1, 2015 through December 31, 2015 $ 1,705 $ — $ — $ — $ 1,705 2016 3,494 — — — 3,494 2017 3,608 — — — 3,608 2018 3,727 — 122,000 200,000 325,727 2019 3,849 — — — 3,849 Thereafter 125,869 700,000 — 72,846 898,715 $ 142,252 $ 700,000 $ 122,000 $ 272,846 $ 1,237,098 (1) Outstanding principal balance for Senior Notes does not include discount of $0.7 million as of June 30, 2015 . (2) Revolving Credit Facility and U.S. term loan are subject to a one -year extension option.
Mortgages [Member]
Debt Instrument [Line Items]
Schedule of Long Term Debt	The Company’s mortgage notes payable consist of the following (dollars in thousands): Interest Rate Type Book Value as of June 30, 2015 Book Value as of December 31, 2014 Weighted Average Effective Interest Rate at June 30, 2015 (1) Maturity Date Fixed Rate $ 142,252 $ 124,022 3.77 % December 2021 - (1) Weighted average effective rate includes private mortgage insurance.
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Schedule of Long Term Debt	The Company’s senior unsecured notes consist of the following (dollars in thousands): Principal Balance as of Title Maturity Date June 30, 2015 (1) December 31, 2014 (1) 5.5% senior unsecured notes due 2021 (“2021 Notes”) February 1, 2021 $ 500,000 $ 500,000 5.375% senior unsecured notes due 2023 (“2023 Notes”) June 1, 2023 200,000 200,000 $ 700,000 $ 700,000 (1) Outstanding principal balance for Senior Notes does not include discount of $0.7 million as of June 30, 2015 and December 31, 2014.

DERIVATIVE AND HEDGING INSTRU28

DERIVATIVE AND HEDGING INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Derivative Instruments Designated as Hedging Instruments	The following is a summary of the derivative and financial instruments designated as hedging instruments held by the Company at June 30, 2015 and December 31, 2014 (in thousands): June 30, 2015 December 31, 2014 Maturity Dates Type Designation Count Fair Value Balance Sheet Location Assets: Interest rate cap Cash Flow 1 $ 3,066 $ 4,618 2019 Prepaid expenses, deferred financing costs and other assets, net Liabilities: Interest rate swap Cash Flow 1 $ 1,137 $ — 2020 Accounts payable and accrued liabilities Cross currency interest rate swaps Net Investment 2 164 — 2025 Accounts payable and accrued liabilities CAD Term Loan Net Investment 1 72,846 — 2020 Term loans $ 74,147 $ —
Schedule of Derivative Financial Instruments on the Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Equity	The following presents the effect of the Company’s derivative financial instruments on the condensed consolidated statements of income and the condensed consolidated statements of equity for the three and six months ended June 30, 2015 : Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion) Gain (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income (Effective Portion) Income Statement Location Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Cash Flow Hedges: Interest Rate Products $ (1,169 ) $ (2,714 ) $ (25 ) $ (25 ) Interest Expense Net Investment Hedges: Foreign Currency Products (164 ) (164 ) — — N/A CAD Term Loan (396 ) (396 ) — — N/A $ (1,729 ) $ (3,274 ) $ (25 ) $ (25 )
Schedule of the Gross Presentation, Effects of Offsetting, and a Net Presentation of Derivatives, Assets	The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of June 30, 2015: Gross Amounts Not Offset in the Balance Sheet Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 3,066 $ — $ 3,066 $ (32 ) $ — $ 3,034 Offsetting Liabilities: Derivatives $ 1,301 $ — $ 1,301 $ (32 ) $ — $ 1,269
Schedule of the Gross Presentation, Effects of Offsetting, and a Net Presentation of Derivatives, Liabilities	The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of June 30, 2015: Gross Amounts Not Offset in the Balance Sheet Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 3,066 $ — $ 3,066 $ (32 ) $ — $ 3,034 Offsetting Liabilities: Derivatives $ 1,301 $ — $ 1,301 $ (32 ) $ — $ 1,269

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Summary of Face Values, Carrying Amounts and Fair Values of Financial Instruments	The following are the face values, carrying amounts and fair values of the Company’s financial instruments as of June 30, 2015 and December 31, 2014 whose carrying amounts do not approximate their fair value (in thousands): June 30, 2015 December 31, 2014 Face Value (1) Carrying Amount (2) Fair Value Face Value (1) Carrying (2) Fair Value Financial assets: Loans receivable $ 255,117 $ 255,836 $ 259,771 $ 234,359 $ 235,176 $ 234,227 Preferred equity investments 22,332 22,671 24,341 16,125 16,407 17,115 Financial liabilities: Senior Notes 700,000 699,323 725,000 700,000 699,272 723,625 Mortgage indebtedness 142,252 142,252 141,962 124,022 124,022 122,131 (1) Face value represents amounts contractually due under the terms of the respective agreements. (2) Carrying amounts represent the book value of financial instruments and include unamortized premiums (discounts).
Schedule of Amounts Measured at Fair Value	During the six months ended June 30, 2015 , the Company recorded the following amounts measured at fair value (in thousands): Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Total (Level 1) (Level 2) (Level 3) Recurring Basis: Financial assets: Interest rate cap $ 3,066 $ — $ 3,066 $ — Financial liabilities: Contingent consideration liability 4,100 — — 4,100 Interest rate swap 1,137 — 1,137 — Cross currency swap 164 — 164 —
Schedule of Reconciliation for Contingent Consideration Liability Recorded at Fair Value using Level 3 Inputs	The following reconciliation provides the details of activity during the six months ended June 30, 2015 for contingent consideration liability recorded at fair value using Level 3 inputs: Balance as of December 31, 2014 $ 3,900 Increase in contingent liability 200 Balance as of June 30, 2015 $ 4,100
Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of Inputs used for Carrying Amounts which do not Approximate Fair Value with Valuation Methods	The Company determined the fair value of financial instruments as of June 30, 2015 whose carrying amounts do not approximate their fair value with valuation methods utilizing the following types of inputs (in thousands): Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Total (Level 1) (Level 2) (Level 3) Financial assets: Loans receivable $ 259,771 $ — $ — $ 259,771 Preferred equity investments 24,341 — — 24,341 Financial liabilities: Senior Notes 725,000 — 725,000 — Mortgage indebtedness 141,962 — — 141,962

EQUITY (Tables)

EQUITY (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Schedule of Cash Dividends on Common Stock Declared and Paid	The following table lists the cash dividends on common stock declared and paid by the Company during the six months ended June 30, 2015 : Declaration Date Record Date Amount Per Share Dividend Payable Date January 12, 2015 February 13, 2015 $ 0.39 February 27, 2015 May 5, 2015 May 15, 2015 $ 0.39 May 29, 2015

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Schedule of the Computation of Basic and Diluted Earnings Per Share	The following table illustrates the computation of basic and diluted earnings per share for the three and six months ended June 30, 2015 and 2014 (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Numerator Net income attributable to common stockholders $ 14,275 $ 12,241 $ 31,164 $ 2,377 Denominator Basic weighted average common shares and common equivalents 59,323,799 43,655,292 59,254,895 41,324,795 Dilutive restricted stock units 219,982 441,005 255,269 466,675 Diluted weighted average common shares 59,543,781 44,096,297 59,510,164 41,791,470 Net income attributable to common stockholders, per: Basic common share $ 0.24 $ 0.28 $ 0.53 $ 0.06 Diluted common share $ 0.24 $ 0.28 $ 0.52 $ 0.06

SUMMARIZED CONDENSED CONSOLID32

SUMMARIZED CONDENSED CONSOLIDATING INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2015
SUMMARIZED CONDENSED CONSOLIDATING INFORMATION [Abstract]
Schedule of Condensed Consolidating Balance Sheet (unaudited)	CONDENSED CONSOLIDATING BALANCE SHEET June 30, 2015 (in thousands) (unaudited) Parent Company Issuers Combined Guarantor Subsidiaries Combined Non- Guarantor Subsidiaries Elimination Consolidated Assets Real estate investments, net of accumulated depreciation $ 44 $ — $ 1,766,502 $ 167,285 $ — $ 1,933,831 Loans receivable and other investments, net — — 278,507 — — 278,507 Cash and cash equivalents 2,455 — — 3,587 — 6,042 Restricted cash — — 160 6,933 — 7,093 Prepaid expenses, deferred financing costs and other assets, net 2,269 23,870 76,491 9,699 — 112,329 Intercompany 577,489 795,386 — — (1,372,875 ) — Investment in subsidiaries 495,905 712,059 27,023 — (1,234,987 ) — Total assets $ 1,078,162 $ 1,531,315 $ 2,148,683 $ 187,504 $ (2,607,862 ) $ 2,337,802 Liabilities Mortgage notes $ — $ — $ — $ 142,252 $ — $ 142,252 Revolving credit facility — 122,000 — — — 122,000 Term loans — 200,000 72,846 — — 272,846 Senior unsecured notes — 699,323 — — — 699,323 Accounts payable and accrued liabilities 7,291 14,087 8,406 789 — 30,573 Intercompany — — 1,360,918 11,957 (1,372,875 ) — Total liabilities 7,291 1,035,410 1,442,170 154,998 (1,372,875 ) 1,266,994 Total Sabra Health Care REIT, Inc. stockholders' equity 1,070,871 495,905 706,513 32,569 (1,234,987 ) 1,070,871 Noncontrolling interests — — — (63 ) — (63 ) Total equity 1,070,871 495,905 706,513 32,506 (1,234,987 ) 1,070,808 Total liabilities and equity $ 1,078,162 $ 1,531,315 $ 2,148,683 $ 187,504 $ (2,607,862 ) $ 2,337,802 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2014 (in thousands) Parent Company Issuers Combined Guarantor Subsidiaries Combined Non- Guarantor Subsidiaries Elimination Consolidated Assets Real estate investments, net of accumulated depreciation $ 60 $ — $ 1,505,974 $ 139,771 $ — $ 1,645,805 Loans receivable and other investments, net — — 251,583 — — 251,583 Cash and cash equivalents 58,799 — — 2,994 — 61,793 Restricted cash — — 160 6,864 — 7,024 Prepaid expenses, deferred financing costs and other assets, net 586 27,803 62,325 7,973 — 98,687 Intercompany 444,499 757,676 — — (1,202,175 ) — Investment in subsidiaries 447,916 642,611 25,057 — (1,115,584 ) — Total assets $ 951,860 $ 1,428,090 $ 1,845,099 $ 157,602 $ (2,317,759 ) $ 2,064,892 Liabilities Mortgage notes $ — $ — $ — $ 124,022 $ — $ 124,022 Revolving credit facility — 68,000 — — — 68,000 Term loan — 200,000 — — — 200,000 Senior unsecured notes — 699,272 — — — 699,272 Accounts payable and accrued liabilities 9,994 12,902 7,422 1,457 — 31,775 Intercompany — — 1,198,779 3,396 (1,202,175 ) — Total liabilities 9,994 980,174 1,206,201 128,875 (1,202,175 ) 1,123,069 Total Sabra Health Care REIT, Inc. stockholders' equity 941,866 447,916 638,898 28,770 (1,115,584 ) 941,866 Noncontrolling interests — — — (43 ) — (43 ) Total equity 941,866 447,916 638,898 28,727 (1,115,584 ) 941,823 Total liabilities and equity $ 951,860 $ 1,428,090 $ 1,845,099 $ 157,602 $ (2,317,759 ) $ 2,064,892
Schedule of Condensed Consolidating Income Statement (unaudited)	CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Three Months Ended June 30, 2015 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Guarantor Subsidiaries Combined Non- Guarantor Subsidiaries Elimination Consolidated Revenues: Rental income $ — $ — $ 44,888 $ 5,008 $ — $ 49,896 Interest and other income — 74 5,925 691 — 6,690 Total revenues — 74 50,813 5,699 — 56,586 Expenses: Depreciation and amortization 14 — 12,981 1,502 — 14,497 Interest — 12,665 136 1,251 — 14,052 General and administrative 3,589 2 5,714 557 — 9,862 Provision for doubtful accounts and write-offs (136 ) — 3,108 — — 2,972 Total expenses 3,467 12,667 21,939 3,310 — 41,383 Other income (expense): Other (expense) income — — (100 ) — — (100 ) Gain on sale of real estate — — 1,723 — — 1,723 Total other income (expense) — — 1,623 — — 1,623 Income in subsidiaries 20,302 32,895 — — (53,197 ) — Net income 16,835 20,302 30,497 2,389 (53,197 ) 16,826 Net loss attributable to noncontrolling interests — — — 9 — 9 Net income attributable to Sabra Health Care REIT, Inc. 16,835 20,302 30,497 2,398 (53,197 ) 16,835 Preferred stock dividends (2,560 ) — — — — (2,560 ) Net income attributable to common stockholders $ 14,275 $ 20,302 $ 30,497 $ 2,398 $ (53,197 ) $ 14,275 Net income attributable to common stockholders, per: Basic common share $ 0.24 Diluted common share $ 0.24 Weighted-average number of common shares outstanding, basic 59,323,799 Weighted-average number of common shares outstanding, diluted 59,543,781 CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Three Months Ended June 30, 2014 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Combined Non- Elimination Consolidated Revenues: Rental income $ — $ — $ 29,795 $ 7,690 $ — $ 37,485 Interest and other income 3 — 4,806 679 — 5,488 Total revenues 3 — 34,601 8,369 — 42,973 Expenses: Depreciation and amortization 13 — 7,725 2,017 — 9,755 Interest — 7,964 1,613 1,417 — 10,994 General and administrative 3,869 1 588 573 — 5,031 Provision for doubtful accounts and write-offs — — 2,895 — — 2,895 Total expenses 3,882 7,965 12,821 4,007 — 28,675 Other (expense) income: Loss on extinguishment of debt — (70 ) — (92 ) — (162 ) Other income (expense) — — 660 — — 660 Total other (expense) income — (70 ) 660 (92 ) — 498 Income in subsidiaries 18,680 26,715 1,078 — (46,473 ) — Net income 14,801 18,680 23,518 4,270 (46,473 ) 14,796 Net loss attributable to noncontrolling interests — — — 5 — 5 Net income attributable to Sabra Health Care REIT, Inc. 14,801 18,680 23,518 4,275 (46,473 ) 14,801 Preferred dividends (2,560 ) — — — — (2,560 ) Net income attributable to common stockholders $ 12,241 $ 18,680 $ 23,518 $ 4,275 $ (46,473 ) $ 12,241 Net loss attributable to common stockholders, per: Basic common share $ 0.28 Diluted common share $ 0.28 Weighted-average number of common shares outstanding, basic 43,655,292 Weighted-average number of common shares outstanding, diluted 44,096,297 CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Six Months Ended June 30, 2015 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Guarantor Subsidiaries Combined Non- Guarantor Subsidiaries Elimination Consolidated Revenues: Rental income $ — $ — $ 89,489 $ 9,912 $ — $ 99,401 Interest and other income 1 72 11,309 1,375 — 12,757 Total revenues 1 72 100,798 11,287 — 112,158 Expenses: Depreciation and amortization 27 — 25,683 2,937 — 28,647 Interest — 25,216 136 2,580 — 27,932 General and administrative 9,491 3 6,128 1,099 — 16,721 Provision for doubtful accounts and write-offs (600 ) — 4,716 — — 4,116 Total expenses 8,918 25,219 36,663 6,616 — 77,416 Other income (expense): Other (expense) income — — (200 ) — — (200 ) Gain on sale of real estate — — 1,723 — — 1,723 Total other income (expense) — — 1,523 — — 1,523 Income in subsidiaries 45,202 70,349 — — (115,551 ) — Net income 36,285 45,202 65,658 4,671 (115,551 ) 36,265 Net loss attributable to noncontrolling interests — — — 20 — 20 Net income attributable to Sabra Health Care REIT, Inc. 36,285 45,202 65,658 4,691 (115,551 ) 36,285 Preferred stock dividends (5,121 ) — — — — (5,121 ) Net income attributable to common stockholders $ 31,164 — $ 45,202 $ 65,658 — $ 4,691 $ (115,551 ) $ 31,164 Net income attributable to common stockholders, per: Basic common share $ 0.53 Diluted common share $ 0.52 Weighted-average number of common shares outstanding, basic 59,254,895 Weighted-average number of common shares outstanding, diluted 59,510,164 CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Six Months Ended June 30, 2014 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Combined Non- Elimination Consolidated Revenues: Rental income — — 58,572 15,006 — 73,578 Interest and other income 7 — 8,898 1,340 — 10,245 Total revenues 7 — 67,470 16,346 — 83,823 Expenses: Depreciation and amortization 25 — 15,146 3,934 — 19,105 Interest — 15,754 3,488 2,886 — 22,128 General and administrative 8,559 2 934 1,290 — 10,785 Provision for doubtful accounts and write-offs — — 2,994 — — 2,994 Total expenses 8,584 15,756 22,562 8,110 — 55,012 Other (expense) income: Loss on extinguishment of debt — (21,689 ) — (607 ) — (22,296 ) Other income (expense) — — 960 — — 960 Total other (expense) income — (21,689 ) 960 (607 ) — (21,336 ) Income in subsidiaries 16,075 53,520 2,419 — (72,014 ) — Net income 7,498 16,075 48,287 7,629 (72,014 ) 7,475 Net loss attributable to noncontrolling interests — — — 23 — 23 Net income attributable to Sabra Health Care REIT, Inc. 7,498 16,075 48,287 7,652 (72,014 ) 7,498 Preferred dividends (5,121 ) — — — — (5,121 ) Net income attributable to common stockholders 2,377 16,075 48,287 7,652 (72,014 ) 2,377 Net income attributable to common stockholders, per: Basic common share 0.06 Diluted common share 0.06 Weighted-average number of common shares outstanding, basic 41,324,795 Weighted-average number of common shares outstanding, diluted 41,791,470
Schedule of Condensed Consolidating Statement of Comprehensive Income	CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Three Months Ended June 30, 2015 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Guarantor Subsidiaries Combined Non- Guarantor Subsidiaries Elimination Consolidated Net income $ 16,835 $ 20,302 $ 30,497 $ 2,389 $ (53,197 ) $ 16,826 Other comprehensive loss: Foreign currency translation — (164 ) (326 ) (105 ) — (595 ) Unrealized loss on cash flow hedge — (1,144 ) — — — (1,144 ) Comprehensive income 16,835 18,994 30,171 2,284 (53,197 ) 15,087 Comprehensive loss attributable to noncontrolling interest — — — 9 — 9 Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 16,835 $ 18,994 $ 30,171 $ 2,293 $ (53,197 ) $ 15,096 CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Six Months Ended June 30, 2015 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Guarantor Subsidiaries Combined Non- Guarantor Subsidiaries Elimination Consolidated Net income $ 36,285 $ 45,202 $ 65,658 $ 4,671 $ (115,551 ) $ 36,265 Other comprehensive loss: Foreign currency translation — (164 ) (326 ) (105 ) — (595 ) Unrealized loss on cash flow hedge — (2,689 ) — — — (2,689 ) Comprehensive income 36,285 42,349 65,332 4,566 (115,551 ) 32,981 Comprehensive loss attributable to noncontrolling interest — — — 20 — 20 Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 36,285 $ 42,349 $ 65,332 $ 4,586 $ (115,551 ) $ 33,001
Schedule of Condensed Consolidating Statement of Cash Flows (unaudited)	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Six Months Ended June 30, 2015 (in thousands) (unaudited) Parent Company Issuers Combined Combined Non- Elimination Consolidated Net cash provided by operating activities $ 37,007 $ — $ — $ 14,300 $ — $ 51,307 Cash flows from investing activities: Acquisitions of real estate — — (290,604 ) (11,247 ) — (301,851 ) Origination and fundings of loans receivable — — (21,737 ) — — (21,737 ) Preferred equity investments — — (5,131 ) — — (5,131 ) Additions to real estate (11 ) — (851 ) (171 ) — (1,033 ) Release of contingent consideration held in escrow — — 5,240 — — 5,240 Repayment of loans receivable — — 2,052 — — 2,052 Investment in subsidiaries (414 ) (414 ) — — 828 — Net proceeds from the sale of real estate — — 1,800 — — 1,800 Distribution from subsidiaries 1,355 1,355 — — (2,710 ) — Intercompany financing (182,815 ) (236,689 ) — — 419,504 — Net cash used in investing activities (181,885 ) (235,748 ) (309,231 ) (11,418 ) 417,622 (320,660 ) Cash flows from financing activities: Net repayments from revolving credit facility — 54,000 — — — 54,000 Proceeds from term loan — — 73,242 — — 73,242 Principal payments on mortgage notes — — — (1,340 ) — (1,340 ) Payments of deferred financing costs — (126 ) (700 ) (8 ) — (834 ) Issuance of common stock 140,062 — — — — 140,062 Dividends paid on common and preferred stock (51,343 ) — — — — (51,343 ) Contribution from parent — 414 — 414 (828 ) — Distribution to parent — (1,355 ) — (1,355 ) 2,710 — Intercompany financing — 182,815 236,689 — (419,504 ) — Net cash provided by (used in) financing activities 88,719 235,748 309,231 (2,289 ) (417,622 ) 213,787 Net (decrease) increase in cash and cash equivalents (56,159 ) — — 593 — (55,566 ) Effect of foreign currency translation on cash and cash equivalents (185 ) — — — — (185 ) Cash and cash equivalents, beginning of period 58,799 — — 2,994 — 61,793 Cash and cash equivalents, end of period $ 2,455 $ — $ — $ 3,587 $ — $ 6,042 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Six Months Ended June 30, 2014 (in thousands) (unaudited) Parent Company Issuers Combined Combined Non- Elimination Consolidated Net cash (used in) provided by operating activities $ (1,746 ) $ — $ — $ 30,667 $ — $ 28,921 Cash flows from investing activities: Acquisitions of real estate — — (108,650 ) (9,739 ) — (118,389 ) Origination of note receivable — — (38,373 ) — — (38,373 ) Preferred equity investment — — (6,458 ) — — (6,458 ) Additions to real estate — — (783 ) — — (783 ) Investment in subsidiaries (12,122 ) (12,122 ) — — 24,244 — Intercompany financing (160,248 ) (289,776 ) — — 450,024 — Net cash used in investing activities (172,370 ) (301,898 ) (154,264 ) (9,739 ) 474,268 (164,003 ) Cash flows from financing activities: Proceeds from issuance of senior unsecured notes — 350,000 — — — 350,000 Principal payments on senior unsecured notes — (211,250 ) — — — (211,250 ) Net proceeds from revolving credit facility — — (135,500 ) — — (135,500 ) Proceeds from mortgage notes — — — 57,703 — 57,703 Principal payments on mortgage notes — — — (87,733 ) — (87,733 ) Payments of deferred financing costs — (9,222 ) (12 ) (901 ) — (10,135 ) Issuance of common stock 219,899 — — — — 219,899 Dividends paid (37,125 ) — — — — (37,125 ) Contribution from parent — 12,122 — 12,122 (24,244 ) — Intercompany financing — 160,248 289,776 — (450,024 ) — Net cash provided by (used in) financing activities 182,774 301,898 154,264 (18,809 ) (474,268 ) 145,859 Net increase in cash and cash equivalents 8,658 — — 2,119 — 10,777 Cash and cash equivalents, beginning of period 3,551 — — 757 — 4,308 Cash and cash equivalents, end of period $ 12,209 $ — $ — $ 2,876 $ — $ 15,085

PRO FORMA FINANCIAL INFORMATI33

PRO FORMA FINANCIAL INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2015
PRO FORMA FINANCIAL INFORMATION [Abstract]
Schedule of Pro Forma Information	This pro forma information does not purport to represent what the actual results of operations of the Company would have been had these acquisitions occurred on January 1, 2014, nor does it purport to predict the results of operations for future periods. Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (in thousands, except share and per share amounts) Revenues $ 63,015 $ 50,307 $ 125,752 $ 100,341 Depreciation and amortization 16,583 12,259 33,191 24,574 Net income attributable to common stockholders 23,889 17,204 45,394 8,655 Net income attributable to common stockholders, per: Basic common share $ 0.40 $ 0.39 $ 0.77 $ 0.21 Diluted common share $ 0.40 $ 0.39 $ 0.76 $ 0.21 Weighted-average number of common shares outstanding, basic 59,323,799 43,655,292 59,254,895 41,324,795 Weighted-average number of common shares outstanding, diluted 59,543,781 44,096,297 59,510,164 41,791,470

SUMMARY OF SIGNIFICANT ACCOUN34

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)	6 Months Ended
	Jun. 30, 2015variable_interest_entity
Accounting Policies [Abstract]
Number of VIEs	1

RECENT REAL ESTATE ACQUISITIO35

RECENT REAL ESTATE ACQUISITIONS - Narrative (Details) $ in Thousands, CAD in Millions	Jun. 30, 2015USD ($)skilled_nursing_bedFacilitiyloanRenewal_Option	Jun. 11, 2015USD ($)FacilitiyRenewal_Optionunit	Jun. 11, 2015CADFacilitiyloanRenewal_Optionunit	Feb. 14, 2014unit	Oct. 22, 2013USD ($)	Jun. 30, 2015USD ($)loan	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)Facilitiyloan	Jun. 30, 2014USD ($)Facilitiy	Jun. 30, 2015CADloan	Mar. 31, 2015loan
Business Acquisition [Line Items]
Total revenues						$ 56,586	$ 42,973	$ 112,158	$ 83,823
Net income attributable to common stockholders						14,275	$ 12,241	31,164	$ 2,377
Purchase price					$ 119,800
Mortgages [Member]
Business Acquisition [Line Items]
Number of mortgage loans | loan											6
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Total revenues						700		700
Net income attributable to common stockholders						$ 700		700
Acquisition pursuit costs								$ 400
Canadian Portfolio [Member] | Mortgages [Member]
Business Acquisition [Line Items]
Expected annual lease revenue | CAD			CAD 11.9
Number of mortgage loans | loan	3		3			3		3		3
Outstanding principal amounts	$ 19,700		CAD 24.2			$ 19,700		$ 19,700		CAD 24.2
Canadian Portfolio [Member] | Senior Lifestyle Corporation [Member]
Business Acquisition [Line Items]
Master lease initial term		10 years	10 years
Number of lease renewal options | Renewal_Option		2	2
Lease renewal term		5 years	5 years
Annual rent increase in year two		4.00%	4.00%
Annual rent increase in year three		4.00%	4.00%
Rent increase during remainder of lease term		3.00%	3.00%
NMS Portfolio [Member]
Business Acquisition [Line Items]
Master lease initial term	15 years
Number of lease renewal options | Renewal_Option	2
Lease renewal term	10 years
Annual rent escalator	2.50%
Expected annual lease revenue	$ 18,300
NMS Portfolio [Member] | Maximum [Member]
Business Acquisition [Line Items]
Annual rent escalator	2.75%
Skilled Nursing Transitional Care Facilities [Member]
Business Acquisition [Line Items]
Number of acquired properties | unit				4
Skilled Nursing Transitional Care Facilities [Member] | Maryland [Member]
Business Acquisition [Line Items]
Number of acquired properties | skilled_nursing_bed	206
Purchase price	$ 58,800
Skilled Nursing Transitional Care Facilities [Member] | Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Number of acquired properties | Facilitiy								3	6
Skilled Nursing Transitional Care Facilities [Member] | NMS Portfolio [Member] | Maryland [Member]
Business Acquisition [Line Items]
Number of acquired properties | Facilitiy	3
Purchase price	$ 175,200
Number of acquired beds | skilled_nursing_bed	472
Senior Housing Facilities [Member]
Business Acquisition [Line Items]
Number of acquired properties | unit				2
Senior Housing Facilities [Member] | Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Number of acquired properties | Facilitiy								10	3
Senior Housing Facilities [Member] | Canadian Portfolio [Member] | British Columbia and Ontario, Canada [Member]
Business Acquisition [Line Items]
Number of acquired properties | Facilitiy		9	9
Number of acquired units | unit		865	865
Purchase price		$ 138,800	CAD 170.5
Tenant Origination and Absorption Costs [Member] | Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets, weighted average amortization period as of date of acquisition								13 years
Tenant Relationship [Member] | Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets, weighted average amortization period as of date of acquisition								22 years

RECENT REAL ESTATE ACQUISITIO36

RECENT REAL ESTATE ACQUISITIONS - Schedule of Purchase Price Allocation (Details) - Series of Individually Immaterial Business Acquisitions [Member] - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Business Acquisition [Line Items]
Land	$ 20,767	$ 11,939
Building and Improvements	294,911	126,855
Total Consideration	321,527	141,546
Tenant Origination and Absorption Costs [Member]
Business Acquisition [Line Items]
Tenant Costs	4,421	2,075
Tenant Relationship [Member]
Business Acquisition [Line Items]
Tenant Costs	$ 1,428	$ 677

REAL ESTATE PROPERTIES HELD F37

REAL ESTATE PROPERTIES HELD FOR INVESTMENT - Schedule of Real Estate Properties Held for Investment (Details) $ in Thousands	Jun. 30, 2015USD ($)BedFacilitiy	Dec. 31, 2014USD ($)BedFacilitiy
Real Estate Properties [Line Items]
Building and improvements	$ 1,833,604	$ 1,551,548
Furniture and equipment	95,818	82,812
Land improvements	3,646	3,646
Land	214,498	193,793
Total Real Estate at Cost	2,147,566	1,831,799
Accumulated Depreciation	(213,735)	(185,994)
Total Real Estate Investments, Net	$ 1,933,831	$ 1,645,805
Operating Segments [Member]
Real Estate Properties [Line Items]
Number of Properties | Facilitiy	172	160
Number of Beds/Units | Bed	18,049	16,718
Total Real Estate at Cost	$ 2,147,290	$ 1,831,534
Accumulated Depreciation	(213,503)	(185,789)
Total Real Estate Investments, Net	$ 1,933,787	$ 1,645,745
Skilled Nursing/Transitional Care Facilities [Member]
Real Estate Properties [Line Items]
Number of Properties | Facilitiy	106	103
Number of Beds/Units | Bed	11,813	11,336
Total Real Estate at Cost	$ 1,026,652	$ 851,252
Accumulated Depreciation	(166,313)	(151,978)
Total Real Estate Investments, Net	$ 860,339	$ 699,274
Senior Housing [Member]
Real Estate Properties [Line Items]
Number of Properties | Facilitiy	64	55
Number of Beds/Units | Bed	6,112	5,258
Total Real Estate at Cost	$ 944,831	$ 804,475
Accumulated Depreciation	(32,965)	(22,487)
Total Real Estate Investments, Net	$ 911,866	$ 781,988
Acute Care Hospital [Member]
Real Estate Properties [Line Items]
Number of Properties | Facilitiy	2	2
Number of Beds/Units | Bed	124	124
Total Real Estate at Cost	$ 175,807	$ 175,807
Accumulated Depreciation	(14,225)	(11,324)
Total Real Estate Investments, Net	161,582	164,483
Corporate [Member]
Real Estate Properties [Line Items]
Total Real Estate at Cost	276	265
Accumulated Depreciation	(232)	(205)
Total Real Estate Investments, Net	$ 44	$ 60

REAL ESTATE PROPERTIES HELD F38

REAL ESTATE PROPERTIES HELD FOR INVESTMENT - Narrative (Details)	Feb. 14, 2014USD ($)unit	Oct. 22, 2013USD ($)unit	Jun. 30, 2015USD ($)Facilitiy	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)Facilitiy	Jun. 30, 2014USD ($)	Jul. 21, 2015USD ($)	Jan. 31, 2015USD ($)	Dec. 31, 2014USD ($)Facilitiy
Real Estate Properties [Line Items]
Number of acquired properties, payments	$ 90,000,000
Contingent consideration liability	$ 3,200,000	$ 7,300,000	$ 4,100,000		$ 4,100,000
Change in fair value of contingent consideration			100,000		200,000	$ (960,000)
Purchase price		119,800,000
Purchase price held in escrow		$ 10,500,000
Purchase price held in escrow, period		20 months
Annual fee during escrow period		$ 500,000
Amount released from escrow				$ 5,300,000
Amount remaining in escrow			5,200,000		5,200,000
Adjustment to contingent consideration liability					$ 0
Weighted average lease expiration period					10 years
Security deposit liability			400,000		$ 400,000				$ 400,000
Provision for doubtful accounts			$ 2,972,000	$ 2,895,000	$ 4,116,000	$ 2,994,000
Subsequent Event [Member] | Forest Park Medical Center - Frisco [Member]
Real Estate Properties [Line Items]
Debt amount							$ 250,000
Operating Segments [Member]
Real Estate Properties [Line Items]
Number of Properties | Facilitiy			172		172				160
Genesis Healthcare, Inc [Member] | Operating Segments [Member]
Real Estate Properties [Line Items]
Number of Properties | Facilitiy			80		80
Forest Park Medical Center - Frisco [Member]
Real Estate Properties [Line Items]
Rent receivable								$ 4,500,000
Accumulated straight-line rent								$ 4,700,000
Reserve associated with rents due and accumulated straight-line rent			$ 4,600,000		$ 4,600,000
Provision for doubtful accounts			$ 3,000,000
Minimum [Member]
Real Estate Properties [Line Items]
Lease expiration period					2 years
Maximum [Member]
Real Estate Properties [Line Items]
Lease expiration period					17 years
Skilled Nursing Transitional Care Facilities [Member]
Real Estate Properties [Line Items]
Number of acquired properties | unit	4
Senior Housing Facilities [Member]
Real Estate Properties [Line Items]
Number of acquired properties | unit	2
Acute Care Hospital [Member]
Real Estate Properties [Line Items]
Number of acquired properties | unit		1

REAL ESTATE PROPERTIES HELD F39

REAL ESTATE PROPERTIES HELD FOR INVESTMENT - Schedule of Future Minimum Rental Payments Receivable for Operating Leases (Details) $ in Thousands	Jun. 30, 2015USD ($)
Operating Leases, Future Minimum Payments Receivable [Abstract]
July 1, 2015 through December 31, 2015	$ 98,019
2,016	201,174
2,017	207,060
2,018	212,935
2,019	219,469
Thereafter	1,457,487
Total	$ 2,396,144

LOANS RECEIVABLE AND OTHER IN40

LOANS RECEIVABLE AND OTHER INVESTMENTS - Schedule of Loans Receivable and Other Investments (Details) $ in Thousands	Jun. 30, 2015USD ($)loan	Dec. 31, 2014USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, Quantity | loan	14
Loans Receivable, Principal Balance	$ 255,117
Loans Receivable, Book Value	$ 255,836	$ 235,176
Loans Receivable, Weighted Average Contractual Interest Rate / Rate of Return	8.40%
Loans Receivable, Weighted Average Annualized Effective Interest Rate / Rate of Return	8.30%
Preferred Equity Investment, Quantity | loan	8
Preferred Equity Investment, Principal Balance	$ 22,332	16,125
Preferred Equity Investment, Book Value	$ 22,671	16,407
Preferred Equity Investment, Weighted Average Contractual Interest Rate / Rate of Return	13.00%
Preferred Equity Investment, Weighted Average Annualized Effective Interest Rate / Rate of Return	13.00%
Total Investments, Quantity | loan	22
Total Investments, Principal Balance	$ 277,449
Total Investments, Book Value	$ 278,507	251,583
Total Investments, Weighted Average Contractual Interest Rate / Rate of Return	8.80%
Total Investments, Weighted Average Annualized Effective Interest Rate / Rate of Return	8.70%
Mortgage Loans Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, Quantity | loan	6
Loans Receivable, Principal Balance	$ 161,934
Loans Receivable, Book Value	$ 162,258	144,383
Loans Receivable, Weighted Average Contractual Interest Rate / Rate of Return	8.40%
Loans Receivable, Weighted Average Annualized Effective Interest Rate / Rate of Return	8.20%
Construction Mortgage Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, Quantity | loan	3
Loans Receivable, Principal Balance	$ 70,910
Loans Receivable, Book Value	$ 71,170	65,525
Loans Receivable, Weighted Average Contractual Interest Rate / Rate of Return	7.70%
Loans Receivable, Weighted Average Annualized Effective Interest Rate / Rate of Return	7.60%
Mezzanine Investments [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, Quantity | loan	2
Loans Receivable, Principal Balance	$ 19,819
Loans Receivable, Book Value	$ 19,867	21,491
Loans Receivable, Weighted Average Contractual Interest Rate / Rate of Return	11.30%
Loans Receivable, Weighted Average Annualized Effective Interest Rate / Rate of Return	11.10%
Pre-Development Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, Quantity | loan	3
Loans Receivable, Principal Balance	$ 2,454
Loans Receivable, Book Value	$ 2,541	$ 3,777
Loans Receivable, Weighted Average Contractual Interest Rate / Rate of Return	9.00%
Loans Receivable, Weighted Average Annualized Effective Interest Rate / Rate of Return	7.50%

LOANS RECEIVABLE AND OTHER IN41

LOANS RECEIVABLE AND OTHER INVESTMENTS - Narrative (Details) $ in Millions	Jun. 30, 2015USD ($)
Loans Receivable and Other Investments [Abstract]
Deferred interest	$ 1.9

DEBT - Schedule of Long Term De

DEBT - Schedule of Long Term Debt - Mortgage Notes (Details) - Mortgages [Member] - USD ($) $ in Thousands	Jun. 30, 2015	Mar. 31, 2015	Feb. 28, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Weighted Average Effective Interest Rate		3.98%	4.39%
Fixed Rate Mortgages [Member]
Debt Instrument [Line Items]
Book Value	$ 142,252			$ 124,022
Weighted Average Effective Interest Rate	3.77%

DEBT - Narrative (Details)

DEBT - Narrative (Details)	Jun. 10, 2015USD ($)	Oct. 10, 2014USD ($)	Feb. 11, 2014USD ($)	Jan. 08, 2014USD ($)	Jun. 30, 2015USD ($)loan	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)loan	Jun. 30, 2014USD ($)	Jun. 30, 2015CADloan	Jun. 11, 2015CADloan	Jun. 10, 2015CAD	Mar. 31, 2015USD ($)loan	Feb. 28, 2015	Dec. 31, 2014USD ($)	Sep. 10, 2014USD ($)
Debt Instrument [Line Items]
Debt, aggregate principal amount					$ 1,237,098,000		$ 1,237,098,000
Payments made to noteholders for early redemption					0	$ 162,000	0	$ 22,296,000
Revolving credit facility					122,000,000		122,000,000							$ 68,000,000
Interest expense					14,052,000	10,994,000	27,932,000	22,128,000
Deferred financing costs amortization included in interest expense					1,268,000	$ 927,000	2,529,000	1,872,000
Accrued interest					13,100,000		$ 13,100,000							$ 13,200,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Optional extension period							1 year
Interest expense					300,000		$ 500,000
Unused facility fees					$ 400,000		$ 700,000
5.5% Senior Unsecured Notes due 2021 [Member]
Debt Instrument [Line Items]
Interest rate					5.50%		5.50%		5.50%
5.375% Senior Unsecured Notes Due 2023 [Member]
Debt Instrument [Line Items]
Interest rate					5.375%		5.375%		5.375%
8.125% Senior Notes due 2018 [Member]
Debt Instrument [Line Items]
Interest rate				8.125%
Debt, aggregate principal amount				$ 211,300,000	$ 0		$ 0
Amount retired			$ 400,000	$ 210,900,000
Redemption premium			109.485%	109.837%
Tender off and redemption related costs and write-offs								21,600,000
Payments made to noteholders for early redemption								20,800,000
Write-offs associated with unamortized deferred financing and premium costs								$ 800,000
Revolving Credit Facility [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Borrowing capacity															$ 650,000,000
Accordion feature, additional capacity															$ 100,000,000
Term loan		$ 200,000,000
Interest rate cap contract term		5 years
Optional extension period		1 year
Revolving credit facility					122,000,000		122,000,000
Available borrowing capacity					$ 328,000,000		$ 328,000,000
Interest rate					2.29%		2.29%		2.29%
Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Annum percent unused borrowing fee							0.25%
Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Annum percent unused borrowing fee							0.35%
Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		2.00%
Canadian Term Loan [Member]
Debt Instrument [Line Items]
Interest rate swap, fixed	1.59%										1.59%
Canadian Term Loan [Member] | Sabra Canadian Holdings, LLC [Member]
Debt Instrument [Line Items]
Debt amount	$ 73,200,000										CAD 90,000,000
Canadian Term Loan [Member] | Canadian Dollar Offer Rate (CDOR) [Member] | Minimum [Member] | Sabra Canadian Holdings, LLC [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
Canadian Term Loan [Member] | Canadian Dollar Offer Rate (CDOR) [Member] | Maximum [Member] | Sabra Canadian Holdings, LLC [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	2.60%
Mortgages [Member]
Debt Instrument [Line Items]
Number of mortgage loans | loan												6
Debt amount												$ 59,200,000
Weighted average interest rate												3.98%	4.39%
Debt, aggregate principal amount					$ 142,252,000		$ 142,252,000
Canadian Portfolio [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Number of mortgage loans | loan					3		3		3	3
Outstanding principal amounts					$ 19,700,000		$ 19,700,000		CAD 24,200,000	CAD 24,200,000
Interest rate					3.74%		3.74%		3.74%

DEBT - Schedule of Long Term 44

DEBT - Schedule of Long Term Debt - Senior Unsecured Notes (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Principal Balance	$ 700,000	$ 700,000
5.5% Senior Unsecured Notes due 2021 [Member]
Debt Instrument [Line Items]
Principal Balance	500,000	500,000
5.375% Senior Unsecured Notes Due 2023 [Member]
Debt Instrument [Line Items]
Principal Balance	$ 200,000	$ 200,000

DEBT - Schedule of Long Term 45

DEBT - Schedule of Long Term Debt - Senior Unsecured Notes (Footnote) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Senior Notes [Member]
Debt Instrument [Line Items]
Debt discount not included in outstanding principal balance	$ 0.7	$ 0.7

DEBT - Schedule of Maturities o

DEBT - Schedule of Maturities of Debt (Details) $ in Thousands	Jun. 30, 2015USD ($)
Debt Instrument [Line Items]
July 1, 2015 through December 31, 2015	$ 1,705
2,016	3,494
2,017	3,608
2,018	325,727
2,019	3,849
Thereafter	898,715
Total	1,237,098
Mortgage Indebtedness [Member]
Debt Instrument [Line Items]
July 1, 2015 through December 31, 2015	1,705
2,016	3,494
2,017	3,608
2,018	3,727
2,019	3,849
Thereafter	125,869
Total	142,252
Senior Notes [Member]
Debt Instrument [Line Items]
July 1, 2015 through December 31, 2015	0
2,016	0
2,017	0
2,018	0
2,019	0
Thereafter	700,000
Total	700,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
July 1, 2015 through December 31, 2015	0
2,016	0
2,017	0
2,018	122,000
2,019	0
Thereafter	0
Total	122,000
Term Loans [Member]
Debt Instrument [Line Items]
July 1, 2015 through December 31, 2015	0
2,016	0
2,017	0
2,018	200,000
2,019	0
Thereafter	72,846
Total	$ 272,846

DEBT - Schedule of Maturities47

DEBT - Schedule of Maturities of Debt (Footnote) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Senior Notes [Member]
Debt Instrument [Line Items]
Debt discount not included in outstanding principal balance	$ 0.7	$ 0.7
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Optional extension period	1 year

DERIVATIVE AND HEDGING INSTRU48

DERIVATIVE AND HEDGING INSTRUMENTS - Narrative (Details)	6 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2015CAD	Dec. 31, 2014USD ($)	Dec. 31, 2014CAD
Derivative [Line Items]
Financial liability	$ 1,301,000
Fair value of derivatives in a net liability position	1,600,000
Termination value	1,600,000
Cash Flow Hedges [Member]
Derivative [Line Items]
Losses included in accumulated other comprehensive loss which are expected to be reclassified into earnings in the next 12 months	900,000
Designated as Hedging Instrument [Member]
Derivative [Line Items]
Financial liability	74,147,000		$ 0
Designated as Hedging Instrument [Member] | Cash Flow Hedges [Member] | Interest Rate Cap [Member]
Derivative [Line Items]
Notional amount	$ 200,000,000		$ 200,000,000
Designated as Hedging Instrument [Member] | Cash Flow Hedges [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Notional amount | CAD		CAD 90,000,000
Designated as Hedging Instrument [Member] | Net Investment Hedges [Member]
Derivative [Line Items]
Financial liability | CAD		90,000,000
Designated as Hedging Instrument [Member] | Net Investment Hedges [Member] | Cross Currency Interest Rate Swaps [Member]
Derivative [Line Items]
Notional amount | CAD		CAD 56,300,000		CAD 0

DERIVATIVE AND HEDGING INSTRU49

DERIVATIVE AND HEDGING INSTRUMENTS - Summary of Derivative Instruments Designated as Hedging Instruments (Details) $ in Thousands, CAD in Millions	Jun. 30, 2015USD ($)instrument	Jun. 30, 2015CADinstrument	Dec. 31, 2014USD ($)
Derivatives, Fair Value [Line Items]
Derivative Asset	$ 3,066
Derivative Liability	1,301
Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability	$ 74,147		$ 0
Designated as Hedging Instrument [Member] | Net Investment Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability | CAD		CAD 90
Designated as Hedging Instrument [Member] | Interest Rate Cap [Member] | Cash Flow Hedging [Member] | Prepaid Expenses, Deferred Financing Costs And Other Assets, Net [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Count | instrument	1	1
Derivative Asset	$ 3,066		4,618
Designated as Hedging Instrument [Member] | Interest Rate Cap [Member] | Cash Flow Hedging [Member] | Accounts Payable and Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Count | instrument	1	1
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member] | Accounts Payable and Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability	$ 1,137		0
Designated as Hedging Instrument [Member] | Cross Currency Interest Rate Swaps [Member] | Net Investment Hedging [Member] | Accounts Payable and Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Count | instrument	2	2
Derivative Liability	$ 164		0
Designated as Hedging Instrument [Member] | CAD Term Loan [Member] | Net Investment Hedging [Member] | Term Loan [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Count | instrument	1	1
Derivative Liability	$ 72,846		$ 0

DERIVATIVE AND HEDGING INSTRU50

DERIVATIVE AND HEDGING INSTRUMENTS - Schedule of Derivative Financial Instruments on the Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Equity (Details) - Jun. 30, 2015 - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	Total	Total
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion)	$ (1,729)	$ (3,274)
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income (Effective Portion)	(25)	(25)
Interest Rate Products [Member] | Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion)	(1,169)	(2,714)
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income (Effective Portion)	(25)	(25)
Foreign Currency Products [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion)	(164)	(164)
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income (Effective Portion)	0	0
CAD Term Loan [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion)	(396)	(396)
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income (Effective Portion)	$ 0	$ 0

DERIVATIVE AND HEDGING INSTRU51

DERIVATIVE AND HEDGING INSTRUMENTS - Schedule of the Gross Presentation, Effects of Offsetting, and a Net Presentation of Derivatives (Details) $ in Thousands	Jun. 30, 2015USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Offsetting Assets, Gross Amounts of Recognized Assets / Liabilities	$ 3,066
Offsetting Assets, Gross Amounts Offset in the Balance Sheet	0
Offsetting Assets, Net Amounts of Assets / Liabilities presented in the Balance Sheet	3,066
Offsetting Assets, Gross Amounts Not Offset in the Balance Sheet, Financial Instruments	(32)
Offsetting Assets, Gross Amounts Not Offset in the Balance Sheet, Cash Collateral Received	0
Offsetting Assets, Net Amount	3,034
Offsetting Liabilities, Gross Amounts of Recognized Assets / Liabilities	1,301
Offsetting Liabilities, Gross Amounts Offset in the Balance Sheet	0
Offsetting Liabilities, Net Amounts of Assets / Liabilities presented in the Balance Sheet	1,301
Offsetting Liabilities, Gross Amounts Not Offset in the Balance Sheet, Financial Instruments	(32)
Offsetting Liabilities, Gross Amounts Not Offset in the Balance Sheet, Cash Collateral Received	0
Offsetting Liabilities, Net Amount	$ 1,269

FAIR VALUE DISCLOSURES - Summar

FAIR VALUE DISCLOSURES - Summary of Face Values, Carrying Amounts and Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable, Face Value	$ 255,117	$ 234,359
Preferred equity investment, Face Value	22,332	16,125
Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities, Face Value	700,000	700,000
Mortgage indebtedness [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities, Face Value	142,252	124,022
Carrying Amount [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	255,836	235,176
Preferred equity investments	22,671	16,407
Carrying Amount [Member] | Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	699,323	699,272
Carrying Amount [Member] | Mortgage indebtedness [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	142,252	124,022
Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	259,771	234,227
Preferred equity investments	24,341	17,115
Fair Value [Member] | Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	725,000	723,625
Fair Value [Member] | Mortgage indebtedness [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	$ 141,962	$ 122,131

FAIR VALUE DISCLOSURES - Schedu

FAIR VALUE DISCLOSURES - Schedule of Inputs used for Carrying Amounts which do not Approximate Fair Value with Valuation Methods (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Total [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	$ 259,771	$ 234,227
Preferred equity investments	24,341	17,115
Total [Member] | Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	725,000	723,625
Total [Member] | Mortgage indebtedness [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	141,962	$ 122,131
Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	0
Preferred equity investments	0
Recurring [Member] | Level 1 [Member] | Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0
Recurring [Member] | Level 1 [Member] | Mortgage indebtedness [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0
Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	0
Preferred equity investments	0
Recurring [Member] | Level 2 [Member] | Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	725,000
Recurring [Member] | Level 2 [Member] | Mortgage indebtedness [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0
Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	259,771
Preferred equity investments	24,341
Recurring [Member] | Level 3 [Member] | Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0
Recurring [Member] | Level 3 [Member] | Mortgage indebtedness [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	141,962
Recurring [Member] | Total [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	259,771
Preferred equity investments	24,341
Recurring [Member] | Total [Member] | Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	725,000
Recurring [Member] | Total [Member] | Mortgage indebtedness [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	$ 141,962

FAIR VALUE DISCLOSURES - Sche54

FAIR VALUE DISCLOSURES - Schedule of Amounts Measured at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Asset	$ 3,066
Contingent consideration liability	4,100
Financial liability	1,301
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability	4,100	$ 3,900
Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability	0
Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability	0
Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability	4,100
Total [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability	4,100
Interest Rate Cap [Member] | Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Asset	0
Interest Rate Cap [Member] | Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Asset	3,066
Interest Rate Cap [Member] | Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Asset	0
Interest Rate Cap [Member] | Total [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Asset	3,066
Interest Rate Swap [Member] | Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liability	0
Interest Rate Swap [Member] | Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liability	1,137
Interest Rate Swap [Member] | Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liability	0
Interest Rate Swap [Member] | Total [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liability	1,137
Cross Currency Swap [Member] | Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liability	0
Cross Currency Swap [Member] | Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liability	164
Cross Currency Swap [Member] | Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liability	0
Cross Currency Swap [Member] | Total [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liability	$ 164

FAIR VALUE DISCLOSURES - Narrat

FAIR VALUE DISCLOSURES - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent consideration liability	$ 4,100
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent consideration liability	$ 4,100	$ 3,900

FAIR VALUE DISCLOSURES - Sche56

FAIR VALUE DISCLOSURES - Schedule of Reconciliation for Contingent Consideration Liability Recorded at Fair Value using Level 3 Inputs (Details)	6 Months Ended
	Jun. 30, 2015USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Increase in contingent liability	$ 0
Balance as of June 30, 2015	4,100,000
Level 3 [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance as of December 31, 2014	3,900,000
Increase in contingent liability	200,000
Balance as of June 30, 2015	$ 4,100,000

EQUITY - Narrative (Details)

EQUITY - Narrative (Details) - USD ($)	Jun. 30, 2015	Dec. 01, 2014	Oct. 03, 2014	May. 12, 2014	Mar. 21, 2013	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Equity [Line Items]
Preferred stock, shares issued (in shares)	5,750,000				5,800,000	5,750,000		5,750,000
Preferred stock, dividend rate, percentage					7.125%
Price per share (in dollars per share)	$ 25.06		$ 24.25	$ 28.35	$ 25	$ 25.06
Preferred stock, net proceeds from offering					$ 138,300,000
Preferred stock, dividends in arrears						$ 0
Redemption share price (in dollars per share)					$ 25
Convertible preferred stock, conversion price (in dollars per share)					$ 25
Convertible preferred stock, shares issued upon conversion (in shares)					1.7864
Common stock issuance (in shares)	5,900,000		6,900,000	8,100,000
Common stock, net proceeds from offering	$ 147,900,000		$ 160,600,000	$ 219,100,000		$ 140,062,000	$ 219,899,000
Number of shares sold to underwriters upon exercise of option to purchase additional shares (in shares)			900,000	1,100,000
Tax withholding obligations on behalf of employees						4,700,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01				$ 0.01		$ 0.01
Sales commissions, percent of gross proceeds		2.00%
2014 ATM Program [Member]
Equity [Line Items]
Common stock issuance (in shares)						0
Aggregate gross proceeds, up to		$ 200,000,000
Shares available for sale, amount						$ 76,500,000
Restricted Stock Units (RSUs) [Member]
Equity [Line Items]
Shares issued as a result of restricted stock unit vestings (in shares)						200,000

EQUITY - Schedule of Cash Divid

EQUITY - Schedule of Cash Dividends on Common Stock Declared and Paid (Details) - $ / shares	May. 05, 2015	Jan. 12, 2015	Jun. 30, 2015	Jun. 30, 2014
Equity [Abstract]
Common dividends (in dollars per share)	$ 0.39	$ 0.39	$ 0.78	$ 0.74

EARNINGS PER COMMON SHARE - Sch

EARNINGS PER COMMON SHARE - Schedule of the Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Numerator
Net income attributable to common stockholders	$ 14,275	$ 12,241	$ 31,164	$ 2,377
Denominator
Basic weighted average common shares (in shares)	59,323,799	43,655,292	59,254,895	41,324,795
Dilutive restricted stock units (in shares)	219,982	441,005	255,269	466,675
Diluted weighted average common shares (in shares)	59,543,781	44,096,297	59,510,164	41,791,470
Net income attributable to common stockholders, per:
Basic common share (in dollars per share)	$ 0.24	$ 0.28	$ 0.53	$ 0.06
Diluted common share (in dollars per share)	$ 0.24	$ 0.28	$ 0.52	$ 0.06

EARNINGS PER COMMON SHARE - Nar

EARNINGS PER COMMON SHARE - Narrative (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options outstanding	0		0
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive stock	10,700	9,000	11,000	10,000
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive stock		0		0

SUMMARIZED CONDENSED CONSOLID61

SUMMARIZED CONDENSED CONSOLIDATING INFORMATION - Narrative (Details) - USD ($)	Jun. 30, 2015	Jan. 08, 2014
Debt Instrument [Line Items]
Notes outstanding	$ 1,237,098,000
2018 Notes [Member]
Debt Instrument [Line Items]
Notes outstanding	$ 0	$ 211,300,000

SUMMARIZED CONDENSED CONSOLID62

SUMMARIZED CONDENSED CONSOLIDATING INFORMATION - Condensed Consolidating Balance Sheet (unaudited) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Assets
Real estate investments, net of accumulated depreciation	$ 1,933,831	$ 1,645,805
Loans receivable and other investments, net	278,507	251,583
Cash and cash equivalents	6,042	61,793	$ 15,085	$ 4,308
Restricted cash	7,093	7,024
Prepaid expenses, deferred financing costs and other assets, net	112,329	98,687
Intercompany	0	0
Investment in subsidiaries	0	0
Total assets	2,337,802	2,064,892
Liabilities
Mortgage notes	142,252	124,022
Revolving credit facility	122,000	68,000
Term loans	272,846	200,000
Senior unsecured notes	699,323	699,272
Accounts payable and accrued liabilities	30,573	31,775
Intercompany	0	0
Total liabilities	1,266,994	1,123,069
Total Sabra Health Care REIT, Inc. stockholders' equity	1,070,871	941,866
Noncontrolling interests	(63)	(43)
Total equity	1,070,808	941,823	655,815	460,164
Total liabilities and equity	2,337,802	2,064,892
Parent Company [Member]
Assets
Real estate investments, net of accumulated depreciation	44	60
Loans receivable and other investments, net	0	0
Cash and cash equivalents	2,455	58,799	12,209	3,551
Restricted cash	0	0
Prepaid expenses, deferred financing costs and other assets, net	2,269	586
Intercompany	577,489	444,499
Investment in subsidiaries	495,905	447,916
Total assets	1,078,162	951,860
Liabilities
Mortgage notes	0	0
Revolving credit facility	0	0
Term loans	0	0
Senior unsecured notes	0	0
Accounts payable and accrued liabilities	7,291	9,994
Intercompany	0	0
Total liabilities	7,291	9,994
Total Sabra Health Care REIT, Inc. stockholders' equity	1,070,871	941,866
Noncontrolling interests	0	0
Total equity	1,070,871	941,866
Total liabilities and equity	1,078,162	951,860
Issuers [Member]
Assets
Real estate investments, net of accumulated depreciation	0	0
Loans receivable and other investments, net	0	0
Cash and cash equivalents	0	0	0	0
Restricted cash	0	0
Prepaid expenses, deferred financing costs and other assets, net	23,870	27,803
Intercompany	795,386	757,676
Investment in subsidiaries	712,059	642,611
Total assets	1,531,315	1,428,090
Liabilities
Mortgage notes	0	0
Revolving credit facility	122,000	68,000
Term loans	200,000	200,000
Senior unsecured notes	699,323	699,272
Accounts payable and accrued liabilities	14,087	12,902
Intercompany	0	0
Total liabilities	1,035,410	980,174
Total Sabra Health Care REIT, Inc. stockholders' equity	495,905	447,916
Noncontrolling interests	0	0
Total equity	495,905	447,916
Total liabilities and equity	1,531,315	1,428,090
Combined Guarantor Subsidiaries [Member]
Assets
Real estate investments, net of accumulated depreciation	1,766,502	1,505,974
Loans receivable and other investments, net	278,507	251,583
Cash and cash equivalents	0	0	0	0
Restricted cash	160	160
Prepaid expenses, deferred financing costs and other assets, net	76,491	62,325
Intercompany	0	0
Investment in subsidiaries	27,023	25,057
Total assets	2,148,683	1,845,099
Liabilities
Mortgage notes	0	0
Revolving credit facility	0	0
Term loans	72,846	0
Senior unsecured notes	0	0
Accounts payable and accrued liabilities	8,406	7,422
Intercompany	1,360,918	1,198,779
Total liabilities	1,442,170	1,206,201
Total Sabra Health Care REIT, Inc. stockholders' equity	706,513	638,898
Noncontrolling interests	0	0
Total equity	706,513	638,898
Total liabilities and equity	2,148,683	1,845,099
Combined Non-Guarantor Subsidiaries [Member]
Assets
Real estate investments, net of accumulated depreciation	167,285	139,771
Loans receivable and other investments, net	0	0
Cash and cash equivalents	3,587	2,994	2,876	757
Restricted cash	6,933	6,864
Prepaid expenses, deferred financing costs and other assets, net	9,699	7,973
Intercompany	0	0
Investment in subsidiaries	0	0
Total assets	187,504	157,602
Liabilities
Mortgage notes	142,252	124,022
Revolving credit facility	0	0
Term loans	0	0
Senior unsecured notes	0	0
Accounts payable and accrued liabilities	789	1,457
Intercompany	11,957	3,396
Total liabilities	154,998	128,875
Total Sabra Health Care REIT, Inc. stockholders' equity	32,569	28,770
Noncontrolling interests	(63)	(43)
Total equity	32,506	28,727
Total liabilities and equity	187,504	157,602
Elimination [Member]
Assets
Real estate investments, net of accumulated depreciation	0	0
Loans receivable and other investments, net	0	0
Cash and cash equivalents	0	0	$ 0	$ 0
Restricted cash	0	0
Prepaid expenses, deferred financing costs and other assets, net	0	0
Intercompany	(1,372,875)	(1,202,175)
Investment in subsidiaries	(1,234,987)	(1,115,584)
Total assets	(2,607,862)	(2,317,759)
Liabilities
Mortgage notes	0	0
Revolving credit facility	0	0
Term loans	0	0
Senior unsecured notes	0	0
Accounts payable and accrued liabilities	0	0
Intercompany	(1,372,875)	(1,202,175)
Total liabilities	(1,372,875)	(1,202,175)
Total Sabra Health Care REIT, Inc. stockholders' equity	(1,234,987)	(1,115,584)
Noncontrolling interests	0	0
Total equity	(1,234,987)	(1,115,584)
Total liabilities and equity	$ (2,607,862)	$ (2,317,759)

SUMMARIZED CONDENSED CONSOLID63

SUMMARIZED CONDENSED CONSOLIDATING INFORMATION - Condensed Consolidating Statement of Income (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues:
Rental income	$ 49,896	$ 37,485	$ 99,401	$ 73,578
Interest and other income	6,690	5,488	12,757	10,245
Total revenues	56,586	42,973	112,158	83,823
Expenses:
Depreciation and amortization	14,497	9,755	28,647	19,105
Interest	14,052	10,994	27,932	22,128
General and administrative	9,862	5,031	16,721	10,785
Provision for doubtful accounts and write-offs	2,972	2,895	4,116	2,994
Total expenses	41,383	28,675	77,416	55,012
Other income (expense):
Loss on extinguishment of debt	0	(162)	0	(22,296)
Other (expense) income	(100)	660	(200)	960
Gain on sale of real estate	1,723	0	1,723	0
Total other income (expense)	1,623	498	1,523	(21,336)
Income in subsidiaries	0	0	0	0
Net income	16,826	14,796	36,265	7,475
Net loss attributable to noncontrolling interests	9	5	20	23
Net income attributable to Sabra Health Care REIT, Inc.	16,835	14,801	36,285	7,498
Preferred stock dividends	(2,560)	(2,560)	(5,121)	(5,121)
Net income attributable to common stockholders	$ 14,275	$ 12,241	$ 31,164	$ 2,377
Net income attributable to common stockholders, per:
Basic common share (in dollars per share)	$ 0.24	$ 0.28	$ 0.53	$ 0.06
Diluted common share (in dollars per share)	$ 0.24	$ 0.28	$ 0.52	$ 0.06
Weighted-average number of common shares outstanding, basic (in shares)	59,323,799	43,655,292	59,254,895	41,324,795
Weighted-average number of common shares outstanding, diluted (in shares)	59,543,781	44,096,297	59,510,164	41,791,470
Parent Company [Member]
Revenues:
Rental income	$ 0	$ 0	$ 0	$ 0
Interest and other income	0	3	1	7
Total revenues	0	3	1	7
Expenses:
Depreciation and amortization	14	13	27	25
Interest	0	0	0	0
General and administrative	3,589	3,869	9,491	8,559
Provision for doubtful accounts and write-offs	(136)	0	(600)	0
Total expenses	3,467	3,882	8,918	8,584
Other income (expense):
Loss on extinguishment of debt		0		0
Other (expense) income	0	0	0	0
Gain on sale of real estate	0		0
Total other income (expense)	0	0	0	0
Income in subsidiaries	20,302	18,680	45,202	16,075
Net income	16,835	14,801	36,285	7,498
Net loss attributable to noncontrolling interests	0	0	0	0
Net income attributable to Sabra Health Care REIT, Inc.	16,835	14,801	36,285	7,498
Preferred stock dividends	(2,560)	(2,560)	(5,121)	(5,121)
Net income attributable to common stockholders	14,275	12,241	31,164	2,377
Issuers [Member]
Revenues:
Rental income	0	0	0	0
Interest and other income	74	0	72	0
Total revenues	74	0	72	0
Expenses:
Depreciation and amortization	0	0	0	0
Interest	12,665	7,964	25,216	15,754
General and administrative	2	1	3	2
Provision for doubtful accounts and write-offs	0	0	0	0
Total expenses	12,667	7,965	25,219	15,756
Other income (expense):
Loss on extinguishment of debt		(70)		(21,689)
Other (expense) income	0	0	0	0
Gain on sale of real estate	0		0
Total other income (expense)	0	(70)	0	(21,689)
Income in subsidiaries	32,895	26,715	70,349	53,520
Net income	20,302	18,680	45,202	16,075
Net loss attributable to noncontrolling interests	0	0	0	0
Net income attributable to Sabra Health Care REIT, Inc.	20,302	18,680	45,202	16,075
Preferred stock dividends	0	0	0	0
Net income attributable to common stockholders	20,302	18,680	45,202	16,075
Combined Guarantor Subsidiaries [Member]
Revenues:
Rental income	44,888	29,795	89,489	58,572
Interest and other income	5,925	4,806	11,309	8,898
Total revenues	50,813	34,601	100,798	67,470
Expenses:
Depreciation and amortization	12,981	7,725	25,683	15,146
Interest	136	1,613	136	3,488
General and administrative	5,714	588	6,128	934
Provision for doubtful accounts and write-offs	3,108	2,895	4,716	2,994
Total expenses	21,939	12,821	36,663	22,562
Other income (expense):
Loss on extinguishment of debt		0		0
Other (expense) income	(100)	660	(200)	960
Gain on sale of real estate	1,723		1,723
Total other income (expense)	1,623	660	1,523	960
Income in subsidiaries	0	1,078	0	2,419
Net income	30,497	23,518	65,658	48,287
Net loss attributable to noncontrolling interests	0	0	0	0
Net income attributable to Sabra Health Care REIT, Inc.	30,497	23,518	65,658	48,287
Preferred stock dividends	0	0	0	0
Net income attributable to common stockholders	30,497	23,518	65,658	48,287
Combined Non-Guarantor Subsidiaries [Member]
Revenues:
Rental income	5,008	7,690	9,912	15,006
Interest and other income	691	679	1,375	1,340
Total revenues	5,699	8,369	11,287	16,346
Expenses:
Depreciation and amortization	1,502	2,017	2,937	3,934
Interest	1,251	1,417	2,580	2,886
General and administrative	557	573	1,099	1,290
Provision for doubtful accounts and write-offs	0	0	0	0
Total expenses	3,310	4,007	6,616	8,110
Other income (expense):
Loss on extinguishment of debt		(92)		(607)
Other (expense) income	0	0	0	0
Gain on sale of real estate	0		0
Total other income (expense)	0	(92)	0	(607)
Income in subsidiaries	0	0	0	0
Net income	2,389	4,270	4,671	7,629
Net loss attributable to noncontrolling interests	9	5	20	23
Net income attributable to Sabra Health Care REIT, Inc.	2,398	4,275	4,691	7,652
Preferred stock dividends	0	0	0	0
Net income attributable to common stockholders	2,398	4,275	4,691	7,652
Elimination [Member]
Revenues:
Rental income	0	0	0	0
Interest and other income	0	0	0	0
Total revenues	0	0	0	0
Expenses:
Depreciation and amortization	0	0	0	0
Interest	0	0	0	0
General and administrative	0	0	0	0
Provision for doubtful accounts and write-offs	0	0	0	0
Total expenses	0	0	0	0
Other income (expense):
Loss on extinguishment of debt		0		0
Other (expense) income	0	0	0	0
Gain on sale of real estate	0		0
Total other income (expense)	0	0	0	0
Income in subsidiaries	(53,197)	(46,473)	(115,551)	(72,014)
Net income	(53,197)	(46,473)	(115,551)	(72,014)
Net loss attributable to noncontrolling interests	0	0	0	0
Net income attributable to Sabra Health Care REIT, Inc.	(53,197)	(46,473)	(115,551)	(72,014)
Preferred stock dividends	0	0	0	0
Net income attributable to common stockholders	$ (53,197)	$ (46,473)	$ (115,551)	$ (72,014)

SUMMARIZED CONDENSED CONSOLID64

SUMMARIZED CONDENSED CONSOLIDATING INFORMATION - Condensed Consolidating Statement of Comprehensive Income (unaudited) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Condensed Financial Statements, Captions [Line Items]
Net income	$ 16,826	$ 14,796	$ 36,265	$ 7,475
Other comprehensive loss:
Foreign currency translation	(595)	0	(595)	0
Unrealized loss on cash flow hedges	(1,144)	0	(2,689)	0
Comprehensive income	15,087	14,796	32,981	7,475
Comprehensive loss attributable to noncontrolling interest	9	5	20	23
Comprehensive income attributable to Sabra Health Care REIT, Inc.	15,096	14,801	33,001	7,498
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Net income	16,835	14,801	36,285	7,498
Other comprehensive loss:
Foreign currency translation	0		0
Unrealized loss on cash flow hedges	0		0
Comprehensive income	16,835		36,285
Comprehensive loss attributable to noncontrolling interest	0		0
Comprehensive income attributable to Sabra Health Care REIT, Inc.	16,835		36,285
Issuers [Member]
Condensed Financial Statements, Captions [Line Items]
Net income	20,302	18,680	45,202	16,075
Other comprehensive loss:
Foreign currency translation	(164)		(164)
Unrealized loss on cash flow hedges	(1,144)		(2,689)
Comprehensive income	18,994		42,349
Comprehensive loss attributable to noncontrolling interest	0		0
Comprehensive income attributable to Sabra Health Care REIT, Inc.	18,994		42,349
Combined Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net income	30,497	23,518	65,658	48,287
Other comprehensive loss:
Foreign currency translation	(326)		(326)
Unrealized loss on cash flow hedges	0		0
Comprehensive income	30,171		65,332
Comprehensive loss attributable to noncontrolling interest	0		0
Comprehensive income attributable to Sabra Health Care REIT, Inc.	30,171		65,332
Combined Non-Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net income	2,389	4,270	4,671	7,629
Other comprehensive loss:
Foreign currency translation	(105)		(105)
Unrealized loss on cash flow hedges	0		0
Comprehensive income	2,284		4,566
Comprehensive loss attributable to noncontrolling interest	9		20
Comprehensive income attributable to Sabra Health Care REIT, Inc.	2,293		4,586
Elimination [Member]
Condensed Financial Statements, Captions [Line Items]
Net income	(53,197)	$ (46,473)	(115,551)	$ (72,014)
Other comprehensive loss:
Foreign currency translation	0		0
Unrealized loss on cash flow hedges	0		0
Comprehensive income	(53,197)		(115,551)
Comprehensive loss attributable to noncontrolling interest	0		0
Comprehensive income attributable to Sabra Health Care REIT, Inc.	$ (53,197)		$ (115,551)

SUMMARIZED CONDENSED CONSOLID65

SUMMARIZED CONDENSED CONSOLIDATING INFORMATION - Condensed Consolidating Statement of Cash Flows (unaudited) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Oct. 03, 2014	May. 12, 2014	Jun. 30, 2015	Jun. 30, 2014
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities				$ 51,307	$ 28,921
Cash flows from investing activities:
Acquisitions of real estate				(301,851)	(118,389)
Origination and fundings of loans receivable				(21,737)	(38,373)
Preferred equity investments				(5,131)	(6,458)
Additions to real estate				(1,033)	(783)
Release of contingent consideration held in escrow				5,240	0
Repayment of loans receivable				2,052	0
Investment in subsidiaries				0	0
Net proceeds from the sale of real estate				1,800	0
Distribution from subsidiaries				0
Intercompany financing				0	0
Net cash used in investing activities				(320,660)	(164,003)
Cash flows from financing activities:
Proceeds from issuance of senior unsecured notes				0	350,000
Principal payments on senior unsecured notes				0	(211,250)
Net repayments (proceeds) from revolving credit facility				54,000	(135,500)
Proceeds from term loan				73,242	0
Proceeds from mortgage notes				0	57,703
Principal payments on mortgage notes				(1,340)	(87,733)
Payments of deferred financing costs				(834)	(10,135)
Issuance of common stock	$ 147,900	$ 160,600	$ 219,100	140,062	219,899
Dividends paid on common and preferred stock				(51,343)	(37,125)
Contribution from parent				0	0
Distribution to parent				0
Intercompany financing				0	0
Net cash provided by (used in) financing activities				213,787	145,859
Net (decrease) increase in cash and cash equivalents				(55,566)	10,777
Effect of foreign currency translation on cash and cash equivalents				(185)	0
Cash and cash equivalents, beginning of period				61,793	4,308
Cash and cash equivalents, end of period	6,042			6,042	15,085
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities				37,007	(1,746)
Cash flows from investing activities:
Acquisitions of real estate				0	0
Origination and fundings of loans receivable				0	0
Preferred equity investments				0	0
Additions to real estate				(11)	0
Release of contingent consideration held in escrow				0
Repayment of loans receivable				0
Investment in subsidiaries				(414)	(12,122)
Net proceeds from the sale of real estate				0
Distribution from subsidiaries				1,355
Intercompany financing				(182,815)	(160,248)
Net cash used in investing activities				(181,885)	(172,370)
Cash flows from financing activities:
Proceeds from issuance of senior unsecured notes					0
Principal payments on senior unsecured notes					0
Net repayments (proceeds) from revolving credit facility				0	0
Proceeds from term loan				0
Proceeds from mortgage notes					0
Principal payments on mortgage notes				0	0
Payments of deferred financing costs				0	0
Issuance of common stock				140,062	219,899
Dividends paid on common and preferred stock				(51,343)	(37,125)
Contribution from parent				0	0
Distribution to parent				0
Intercompany financing				0	0
Net cash provided by (used in) financing activities				88,719	182,774
Net (decrease) increase in cash and cash equivalents				(56,159)	8,658
Effect of foreign currency translation on cash and cash equivalents				(185)
Cash and cash equivalents, beginning of period				58,799	3,551
Cash and cash equivalents, end of period	2,455			2,455	12,209
Issuers [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities				0	0
Cash flows from investing activities:
Acquisitions of real estate				0	0
Origination and fundings of loans receivable				0	0
Preferred equity investments				0	0
Additions to real estate				0	0
Release of contingent consideration held in escrow				0
Repayment of loans receivable				0
Investment in subsidiaries				(414)	(12,122)
Net proceeds from the sale of real estate				0
Distribution from subsidiaries				1,355
Intercompany financing				(236,689)	(289,776)
Net cash used in investing activities				(235,748)	(301,898)
Cash flows from financing activities:
Proceeds from issuance of senior unsecured notes					350,000
Principal payments on senior unsecured notes					(211,250)
Net repayments (proceeds) from revolving credit facility				54,000	0
Proceeds from term loan				0
Proceeds from mortgage notes					0
Principal payments on mortgage notes				0	0
Payments of deferred financing costs				(126)	(9,222)
Issuance of common stock				0	0
Dividends paid on common and preferred stock				0	0
Contribution from parent				414	12,122
Distribution to parent				(1,355)
Intercompany financing				182,815	160,248
Net cash provided by (used in) financing activities				235,748	301,898
Net (decrease) increase in cash and cash equivalents				0	0
Effect of foreign currency translation on cash and cash equivalents				0
Cash and cash equivalents, beginning of period				0	0
Cash and cash equivalents, end of period	0			0	0
Combined Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities				0	0
Cash flows from investing activities:
Acquisitions of real estate				(290,604)	(108,650)
Origination and fundings of loans receivable				(21,737)	(38,373)
Preferred equity investments				(5,131)	(6,458)
Additions to real estate				(851)	(783)
Release of contingent consideration held in escrow				5,240
Repayment of loans receivable				2,052
Investment in subsidiaries				0	0
Net proceeds from the sale of real estate				1,800
Distribution from subsidiaries				0
Intercompany financing				0	0
Net cash used in investing activities				(309,231)	(154,264)
Cash flows from financing activities:
Proceeds from issuance of senior unsecured notes					0
Principal payments on senior unsecured notes					0
Net repayments (proceeds) from revolving credit facility				0	(135,500)
Proceeds from term loan				73,242
Proceeds from mortgage notes					0
Principal payments on mortgage notes				0	0
Payments of deferred financing costs				(700)	(12)
Issuance of common stock				0	0
Dividends paid on common and preferred stock				0	0
Contribution from parent				0	0
Distribution to parent				0
Intercompany financing				236,689	289,776
Net cash provided by (used in) financing activities				309,231	154,264
Net (decrease) increase in cash and cash equivalents				0	0
Effect of foreign currency translation on cash and cash equivalents				0
Cash and cash equivalents, beginning of period				0	0
Cash and cash equivalents, end of period	0			0	0
Combined Non-Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities				14,300	30,667
Cash flows from investing activities:
Acquisitions of real estate				(11,247)	(9,739)
Origination and fundings of loans receivable				0	0
Preferred equity investments				0	0
Additions to real estate				(171)	0
Release of contingent consideration held in escrow				0
Repayment of loans receivable				0
Investment in subsidiaries				0	0
Net proceeds from the sale of real estate				0
Distribution from subsidiaries				0
Intercompany financing				0	0
Net cash used in investing activities				(11,418)	(9,739)
Cash flows from financing activities:
Proceeds from issuance of senior unsecured notes					0
Principal payments on senior unsecured notes					0
Net repayments (proceeds) from revolving credit facility				0	0
Proceeds from term loan				0
Proceeds from mortgage notes					57,703
Principal payments on mortgage notes				(1,340)	(87,733)
Payments of deferred financing costs				(8)	(901)
Issuance of common stock				0	0
Dividends paid on common and preferred stock				0	0
Contribution from parent				414	12,122
Distribution to parent				(1,355)
Intercompany financing				0	0
Net cash provided by (used in) financing activities				(2,289)	(18,809)
Net (decrease) increase in cash and cash equivalents				593	2,119
Effect of foreign currency translation on cash and cash equivalents				0
Cash and cash equivalents, beginning of period				2,994	757
Cash and cash equivalents, end of period	3,587			3,587	2,876
Elimination [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash (used in) provided by operating activities				0	0
Cash flows from investing activities:
Acquisitions of real estate				0	0
Origination and fundings of loans receivable				0	0
Preferred equity investments				0	0
Additions to real estate				0	0
Release of contingent consideration held in escrow				0
Repayment of loans receivable				0
Investment in subsidiaries				828	24,244
Net proceeds from the sale of real estate				0
Distribution from subsidiaries				(2,710)
Intercompany financing				419,504	450,024
Net cash used in investing activities				417,622	474,268
Cash flows from financing activities:
Proceeds from issuance of senior unsecured notes					0
Principal payments on senior unsecured notes					0
Net repayments (proceeds) from revolving credit facility				0	0
Proceeds from term loan				0
Proceeds from mortgage notes					0
Principal payments on mortgage notes				0	0
Payments of deferred financing costs				0	0
Issuance of common stock				0	0
Dividends paid on common and preferred stock				0	0
Contribution from parent				(828)	(24,244)
Distribution to parent				2,710
Intercompany financing				(419,504)	(450,024)
Net cash provided by (used in) financing activities				(417,622)	(474,268)
Net (decrease) increase in cash and cash equivalents				0	0
Effect of foreign currency translation on cash and cash equivalents				0
Cash and cash equivalents, beginning of period				0	0
Cash and cash equivalents, end of period	$ 0			$ 0	$ 0

PRO FORMA FINANCIAL INFORMATI66

PRO FORMA FINANCIAL INFORMATION - Narrative (Details)	Feb. 14, 2014unit	Jun. 30, 2015Facilitiy	Jun. 30, 2014Facilitiy
Skilled Nursing Transitional Care Facilities [Member]
Business Acquisition [Line Items]
Number of acquired properties	4
Skilled Nursing Transitional Care Facilities [Member] | Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Number of acquired properties | Facilitiy		3	6
Senior Housing Facilities [Member]
Business Acquisition [Line Items]
Number of acquired properties	2
Senior Housing Facilities [Member] | Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Number of acquired properties | Facilitiy		10	3

PRO FORMA FINANCIAL INFORMATI67

PRO FORMA FINANCIAL INFORMATION - Schedule of Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net income attributable to common stockholders, per:
Weighted-average number of common shares outstanding, basic (in shares)	59,323,799	43,655,292	59,254,895	41,324,795
Weighted-average number of common shares outstanding, diluted (in shares)	59,543,781	44,096,297	59,510,164	41,791,470
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Revenues	$ 63,015	$ 50,307	$ 125,752	$ 100,341
Depreciation and amortization	16,583	12,259	33,191	24,574
Net income attributable to common stockholders	$ 23,889	$ 17,204	$ 45,394	$ 8,655
Net income attributable to common stockholders, per:
Basic common share (in dollars per share)	$ 0.40	$ 0.39	$ 0.77	$ 0.21
Diluted common share (in dollars per share)	$ 0.40	$ 0.39	$ 0.76	$ 0.21
Weighted-average number of common shares outstanding, basic (in shares)	59,323,799	43,655,292	59,254,895	41,324,795
Weighted-average number of common shares outstanding, diluted (in shares)	59,543,781	44,096,297	59,510,164	41,791,470

SUBSEQUENT EVENTS - Narrative (

SUBSEQUENT EVENTS - Narrative (Details) - $ / shares	Aug. 04, 2015	May. 05, 2015	Jan. 12, 2015	Jun. 30, 2015	Jun. 30, 2014
Subsequent Event [Line Items]
Common dividends, declared (in dollars per share)		$ 0.39	$ 0.39	$ 0.78	$ 0.74
Subsequent Event [Member] | Dividend Declared [Member]
Subsequent Event [Line Items]
Common dividends, declared (in dollars per share)	$ 0.41
Preferred stock dividends, declared (in dollars per share)	$ 0.4453125