Sabra Health Care REIT (SBRA) 10-Q 2 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 28, 2016
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	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		65,259,836

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Assets
Real estate investments, net of accumulated depreciation of $272,953 and $237,841 as of September 30, 2016 and December 31, 2015, respectively	$ 1,999,778	$ 2,039,616
Loans receivable and other investments, net	94,466	300,177
Cash and cash equivalents	19,674	7,434
Restricted cash	9,150	9,813
Prepaid expenses, deferred financing costs and other assets, net	116,353	111,797
Total assets	2,239,421	2,468,837
Liabilities
Mortgage notes, net	162,130	174,846
Revolving credit facility	0	255,000
Term loans, net	337,641	264,229
Senior unsecured notes, net	687,607	685,704
Accounts payable and accrued liabilities	38,156	35,182
Total liabilities	1,225,534	1,414,961
Commitments and contingencies
Equity
Preferred stock, $.01 par value; 10,000,000 shares authorized, 5,750,000 shares issued and outstanding as of September 30, 2016 and December 31, 2015	58	58
Common stock, $.01 par value; 125,000,000 shares authorized, 65,259,836 and 65,182,335 shares issued and outstanding as of September 30, 2016 and December 31, 2015, respectively	653	652
Additional paid-in capital	1,207,487	1,202,541
Cumulative distributions in excess of net income	(184,969)	(142,148)
Accumulated other comprehensive loss	(9,382)	(7,333)
Total Sabra Health Care REIT, Inc. stockholders’ equity	1,013,847	1,053,770
Noncontrolling interests	40	106
Total equity	1,013,887	1,053,876
Total liabilities and equity	$ 2,239,421	$ 2,468,837

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Assets
Accumulated depreciation	$ 272,953	$ 237,841
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)	65,259,836	65,182,335
Common stock, shares outstanding (in shares)	65,259,836	65,182,335

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues:
Rental income	$ 56,833	$ 53,173	$ 167,442	$ 152,574
Interest and other income	3,157	6,211	25,482	17,594
Resident fees and services	1,937	550	5,811	1,924
Total revenues	61,927	59,934	198,735	172,092
Expenses:
Depreciation and amortization	17,102	16,306	51,273	44,953
Interest	15,794	15,176	49,139	43,108
Operating expenses	1,404	444	4,256	1,442
General and administrative	6,171	3,547	15,521	19,270
Provision for doubtful accounts and loan losses	540	2,489	3,286	6,605
Impairment of real estate	0	0	29,811	0
Total expenses	41,011	37,962	153,286	115,378
Other income (expense):
Loss on extinguishment of debt	0	0	(556)	0
Other income (expense)	2,945	(100)	5,345	(300)
Net gain (loss) on sale of real estate	1,451	(3,838)	(3,203)	(2,115)
Total other income (expense)	4,396	(3,938)	1,586	(2,415)
Net income	25,312	18,034	47,035	54,299
Net loss attributable to noncontrolling interests	25	27	66	47
Net income attributable to Sabra Health Care REIT, Inc.	25,337	18,061	47,101	54,346
Preferred stock dividends	(2,561)	(2,561)	(7,682)	(7,682)
Net income attributable to common stockholders	$ 22,776	$ 15,500	$ 39,419	$ 46,664
Net income attributable to common stockholders, per:
Basic common share (in dollars per share)	$ 0.35	$ 0.24	$ 0.60	$ 0.76
Diluted common share (in dollars per share)	$ 0.35	$ 0.24	$ 0.60	$ 0.76
Weighted-average number of common shares outstanding, basic (in shares)	65,312,288	65,160,290	65,285,591	61,244,991
Weighted-average number of common shares outstanding, diluted (in shares)	65,591,428	65,398,175	65,470,589	61,468,603

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 25,312	$ 18,034	$ 47,035	$ 54,299
Other comprehensive (loss) income:
Foreign currency translation (loss) income	(500)	970	(749)	375
Unrealized gain (loss) on cash flow hedges	398	(1,781)	(1,300)	(4,470)
Total other comprehensive loss	(102)	(811)	(2,049)	(4,095)
Comprehensive income	25,210	17,223	44,986	50,204
Comprehensive loss attributable to noncontrolling interest	25	27	66	47
Comprehensive income attributable to Sabra Health Care REIT, Inc.	$ 25,235	$ 17,250	$ 45,052	$ 50,251

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, 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)	54,299				54,346		54,346	(47)
Other comprehensive loss	(4,095)					(4,095)	(4,095)
Amortization of stock-based compensation	5,872			5,872			5,872
Common stock issuance, net (in shares)										6,087,055
Common stock issuance, net									$ 142,447	$ 61	$ 142,386	$ 142,447
Preferred dividends	(7,682)				(7,682)		(7,682)
Common dividends	(73,420)				(73,420)		(73,420)
Ending balance (in shares) at Sep. 30, 2015		5,750,000	65,134,056
Ending balance at Sep. 30, 2015	1,059,244	$ 58	$ 651	1,201,859	(137,597)	(5,637)	1,059,334	(90)
Beginning balance (in shares) at Dec. 31, 2015		5,750,000	65,182,335
Beginning balance at Dec. 31, 2015	1,053,876	$ 58	$ 652	1,202,541	(142,148)	(7,333)	1,053,770	106
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	47,035				47,101		47,101	(66)
Other comprehensive loss	(2,049)					(2,049)	(2,049)
Amortization of stock-based compensation	6,775			6,775			6,775
Common stock issuance, net (in shares)										108,731
Common stock issuance, net									$ (1,103)	$ 1	$ (1,104)	$ (1,103)
Repurchase of common stock (in shares)			(31,230)
Repurchase of common stock	(725)			(725)			(725)
Preferred dividends	(7,682)				(7,682)		(7,682)
Common dividends	(82,240)				(82,240)		(82,240)
Ending balance (in shares) at Sep. 30, 2016		5,750,000	65,259,836
Ending balance at Sep. 30, 2016	$ 1,013,887	$ 58	$ 653	$ 1,207,487	$ (184,969)	$ (9,382)	$ 1,013,847	$ 40

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Equity (unaudited) (Parenthetical) - $ / shares	Aug. 01, 2016	May 02, 2016	Feb. 03, 2016	Sep. 30, 2016	Sep. 30, 2015
Statement of Stockholders' Equity [Abstract]
Common dividends (in dollars per share)	$ 0.42	$ 0.42	$ 0.41	$ 1.25	$ 1.19

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net income	$ 47,035	$ 54,299
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	51,273	44,953
Non-cash interest income adjustments	549	343
Amortization of deferred financing costs	3,767	3,829
Stock-based compensation expense	6,137	5,389
Amortization of debt discount	81	77
Loss on extinguishment of debt	556	0
Straight-line rental income adjustments	(16,710)	(18,272)
Provision for doubtful accounts and loan losses	3,286	6,605
Change in fair value of contingent consideration	50	300
Net loss on sales of real estate	3,203	2,115
Impairment of real estate	29,811	0
Changes in operating assets and liabilities:
Prepaid expenses and other assets	1,381	(15,035)
Accounts payable and accrued liabilities	6,217	(2,410)
Restricted cash	(2,820)	(3,078)
Net cash provided by operating activities	133,816	79,115
Cash flows from investing activities:
Acquisitions of real estate	(109,619)	(386,572)
Origination and fundings of loans receivable	(9,478)	(26,207)
Origination and fundings of preferred equity investments	(6,845)	(9,281)
Additions to real estate	(901)	(1,596)
DIP loan fundings	0	(3,302)
Repayment of loans receivable	214,947	3,285
Release of contingent consideration held in escrow	0	5,240
Net proceeds from the sale of real estate	85,449	15,752
Net cash provided by (used in) investing activities	173,553	(402,681)
Cash flows from financing activities:
Net (repayments of) proceeds from revolving credit facility	(255,000)	136,000
Proceeds from term loans	69,360	73,242
Proceeds from mortgage notes	0	28,735
Principal payments on mortgage notes	(13,756)	(2,184)
Payments of deferred financing costs	(5,933)	(1,314)
Issuance of common stock, net	(1,289)	139,617
Dividends paid on common and preferred stock	(89,283)	(80,619)
Net cash (used in) provided by financing activities	(295,901)	293,477
Net increase (decrease) in cash and cash equivalents	11,468	(30,089)
Effect of foreign currency translation on cash and cash equivalents	772	(231)
Cash and cash equivalents, beginning of period	7,434	61,793
Cash and cash equivalents, end of period	19,674	31,473
Supplemental disclosure of cash flow information:
Interest paid	49,009	43,405
Supplemental disclosure of non-cash investing and financing activities:
Assumption of mortgage indebtedness	0	19,677
Real estate acquired through loan receivable foreclosure	$ 10,100	$ 0

BUSINESS

BUSINESS	9 Months Ended
	Sep. 30, 2016
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 (the "Separation Date"). 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 assets and properties 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, an acute care hospital, investments in loans receivable and preferred equity investments.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2016
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 September 30, 2016 and December 31, 2015 and for the periods ended September 30, 2016 and 2015. 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 nine months ended September 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 . For further information, refer to the Company’s consolidated financial statements and notes thereto for the year ended December 31, 2015 included in the Company’s 2015 Annual Report on Form 10-K filed with the SEC. GAAP requires the Company to identify entities for which control is achieved through voting rights or other means 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 September 30, 2016 , the Company determined it was the primary beneficiary of two senior housing facilities and has consolidated the operations of these facilities in the accompanying condensed consolidated financial statements. As of September 30, 2016 , the Company determined that operations of these facilities 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 September 30, 2016 , none of the Company's investments in loans are accounted for as real estate joint ventures. As it relates to investments in joint ventures, the Company assesses any limited partners' rights and their impact on the presumption of control of the limited partnership by any single partner. The Company reassesses its determination of which entity controls the joint venture if: there is a change to the terms or in the exercisability of the rights of any 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 balance sheets and condensed consolidated statements of income. As of December 31, 2015, there was $17.3 million of deferred financing costs related to the Company's mortgage notes, term loans and senior unsecured notes that were previously reported within “prepaid expenses, deferred financing costs and other assets, net” that were reclassified in accordance with ASU 2015-03 to their respective debt liability financial statement line items on the Company’s condensed consolidated balance sheet. Recently Issued Accounting Standards Update In January 2016, the FASB issued ASU 2016-01, Financial Instruments–Overall (Subtopic 825-10) (“ASU 2016-01”). ASU 2016-01 updates guidance related to recognition and measurement of financial assets and financial liabilities. ASU 2016-01 requires all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under the equity method of accounting or those that result in consolidation of the investee). The amendments in ASU 2016-01 also require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition, the amendments in ASU 2016-01 eliminate the requirement to disclose the methods and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet for public business entities. ASU 2016-01 is effective for fiscal years and interim periods within those years beginning after December 15, 2017, with early adoption permitted. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements when adopted. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”). ASU 2016-02 supersedes guidance related to accounting for leases. ASU 2016-02 updates guidance around the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous GAAP. The objective of ASU 2016-02 is to establish the principles that lessees and lessors shall apply to report useful information to users of financial statements about the amount, timing, and uncertainty of cash flows arising from a lease. ASU 2016-02 does not fundamentally change lessor accounting, however, some changes have been made to lessor accounting to conform and align that guidance with the lessee guidance and other areas within GAAP. ASU 2016-02 is effective for fiscal years and interim periods within those years beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements when adopted. In March 2016, the FASB issued ASU 2016-07, Equity Method and Joint Ventures (Topic 323) (“ASU 2016-07”). ASU 2016-07 simplifies the accounting for equity method investments. ASU 2016-07 eliminates the requirement in Topic 323 that an entity retroactively adopt the equity method of accounting if an investment qualifies for use of the equity method as a result of an increase in the level of ownership or degree of influence. The amendments require that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor’s previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method accounting. ASU 2016-07 is effective for fiscal years and interim periods within those years beginning after December 15, 2016, with early adoption permitted. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements when adopted. In March 2016, the FASB issued ASU 2016-09, Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”). ASU 2016-09 simplifies several aspects of the accounting for employee share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. In addition, the amendments in ASU 2016-09 eliminate the guidance in Topic 718 that was indefinitely deferred shortly after the issuance of FASB Statement No. 123 (revised 2004), Share-Based Payment. ASU 2016-09 is effective for fiscal years and interim periods within those years beginning after December 15, 2016, with early adoption permitted. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements when adopted. In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 requires that a financial asset (or a group of financial assets) measured at amortized cost basis be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. The amendments in ASU 2016-13 are an improvement because they eliminate the probable initial recognition threshold in current GAAP and, instead, reflect an entity’s current estimate of all expected credit losses. Previously, when credit losses were measured under GAAP, an entity generally only considered past events and current conditions in measuring the incurred loss. ASU 2016-13 is effective for fiscal years and interim periods within those years beginning after December 15, 2019, with early adoption permitted as of the fiscal years beginning after December 15, 2018. An entity will apply the amendments in this update through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (that is, a modified-retrospective approach). The Company is currently evaluating the impact this guidance will have on its consolidated financial statements when adopted. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”). ASU 2016-15 provides specific guidance on the following eight specific cash flow classification issues: debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies (including bank-owned life insurance policies); distributions received from equity method investees; beneficial interests in securitization transactions; and separately identifiable cash flows and application of the predominance principle. ASU 2016-15 will reduce the current and potential future diversity in practice of cash flow classifications. ASU 2016-15 is effective for fiscal years and interim periods within those years beginning after December 15, 2017, with early adoption permitted. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements when adopted.

RECENT REAL ESTATE ACQUISITIONS

RECENT REAL ESTATE ACQUISITIONS	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
RECENT REAL ESTATE ACQUISITIONS	RECENT REAL ESTATE ACQUISITIONS During the nine months ended September 30, 2016 , the Company acquired one skilled nursing/transitional care facility and three senior housing facilities. During the nine months ended September 30, 2015 , the Company acquired three skilled nursing/transitional care facilities and 19 senior housing facilities. The consideration was allocated as follows (in thousands): Nine Months Ended September 30, 2016 2015 Land $ 5,521 $ 26,855 Building and Improvements 102,094 372,031 Tenant Origination and Absorption Costs 1,565 5,481 Tenant Relationship 439 1,881 Total Consideration $ 109,619 $ 406,248 As of September 30, 2016 , the purchase price allocation for one senior housing facility acquired during the nine months ended September 30, 2016 is preliminary pending the receipt of information necessary to complete the valuation of certain tangible and intangible assets and liabilities and therefore is 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 15 years and 25 years, respectively. For the three and nine months ended September 30, 2016 , the Company recognized $1.7 million of total revenues and $0.1 million of net income attributable to common stockholders from properties acquired during the nine months ended September 30, 2016 . These amounts include acquisition pursuit costs of $1.1 million .

REAL ESTATE PROPERTIES HELD FOR

REAL ESTATE PROPERTIES HELD FOR INVESTMENT	9 Months Ended
	Sep. 30, 2016
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 September 30, 2016 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 102 11,503 $ 1,083,054 $ (194,853 ) $ 888,201 Senior Housing 79 7,059 1,127,631 (67,924 ) 1,059,707 Acute Care Hospital 1 70 61,640 (9,926 ) 51,714 182 18,632 2,272,325 (272,703 ) 1,999,622 Corporate Level 406 (250 ) 156 $ 2,272,731 $ (272,953 ) $ 1,999,778 As of December 31, 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 103 11,515 $ 1,051,189 $ (174,662 ) $ 876,527 Senior Housing 75 6,710 1,050,162 (45,800 ) 1,004,362 Acute Care Hospitals 2 124 175,807 (17,127 ) 158,680 180 18,349 2,277,158 (237,589 ) 2,039,569 Corporate Level 299 (252 ) 47 $ 2,277,457 $ (237,841 ) $ 2,039,616 September 30, 2016 December 31, 2015 Building and improvements $ 1,962,520 $ 1,954,129 Furniture and equipment 85,423 97,840 Land improvements 3,888 3,594 Land 220,900 221,894 2,272,731 2,277,457 Accumulated depreciation (272,953 ) (237,841 ) $ 1,999,778 $ 2,039,616 Contingent Consideration Arrangements In connection with four of its real estate acquisitions, the Company entered into contingent consideration arrangements. Under the contingent consideration arrangements, the Company may pay out additional amounts based on incremental value created through the improvement of operations of the acquired facility (a contingent consideration liability) or may be entitled to receive a portion of the original purchase price of the acquired facility if the facility does not meet certain performance hurdles (a contingent consideration asset). The estimated value of the contingent consideration liabilities at the time of purchase was $3.2 million . The estimated value of the contingent consideration asset at the time of purchase was $0 . The contingent consideration amounts would be determined based on portfolio performance and the tenant achieving certain performance hurdles during 2016 through 2018. To determine the value of the contingent consideration, the Company used significant inputs not observable in the market to estimate the contingent consideration, made assumptions regarding the probability of the portfolio achieving the incremental value and then applied an appropriate discount rate. As of September 30, 2016 , based on the potential future performance of these facilities, the contingent consideration liabilities had an estimated value of $2.4 million , which amount is included in accounts payable in the accompanying condensed consolidated balance sheet, and the contingent consideration asset had an estimated value of $0 . During the three and nine months ended September 30, 2016 , the Company recorded an adjustment to increase the contingent consideration arrangements by $0.1 million and included this amount in other income (expense) on the accompanying condensed consolidated statements of income. Operating Leases As of September 30, 2016 , all of the Company’s real estate properties were leased under triple-net operating leases with expirations ranging from one to 16 years. As of September 30, 2016 , the leases had a weighted-average remaining term of 9 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 $2.1 million as of September 30, 2016 and $1.3 million as of December 31, 2015 . As of September 30, 2016 , the Company had a $3.2 million reserve for unpaid cash rents and a $1.4 million reserve associated with accumulated straight-line rental income. As of December 31, 2015 , the Company had a $3.5 million reserve for unpaid cash rents and a $5.3 million reserve associated with accumulated straight-line rental income. As of September 30, 2016 , the Company's three largest tenants, Genesis, Holiday and NMS Healthcare, represented 32.6% , 16.3% and 12.4% , respectively, of the Company's annualized revenues. Other than these three tenants, none of the Company’s tenants individually represented 10% or more of the Company’s annualized revenues as of September 30, 2016 . The Company has entered into memoranda of understanding with Genesis to jointly market for sale 35 skilled nursing facilities and make certain other lease and corporate guarantee amendments for the remaining 43 facilities leased to Genesis. Marketing of these 35 facilities is ongoing and is expected to be completed over the next several quarters. 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 and earnings before interest, taxes, depreciation, amortization, rent and management fees (“EBITDARM”) to rent at the lease level and consolidated EBITDAR to total fixed charges 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 identify financial and operational trends, evaluate the impact of the industry's operational and financial environment (including the impact of government reimbursement), and evaluate 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 September 30, 2016 , the future minimum rental payments from the Company’s properties held for investment under non-cancelable operating leases was as follows (in thousands): October 1, 2016 through December 31, 2016 $ 52,272 2017 212,373 2018 217,914 2019 224,207 2020 230,351 Thereafter 1,306,497 $ 2,243,614

DISPOSITIONS

DISPOSITIONS	9 Months Ended
	Sep. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
DISPOSITIONS	DISPOSITIONS 2016 Dispositions During the nine months ended September 30, 2016 , the Company completed the sale of two skilled nursing/transitional care facilities and one acute care hospital for aggregate consideration of $85.4 million after selling expenses of $2.3 million . The net carrying value of the assets and liabilities of these facilities, after the impairment loss of $29.8 million recognized in relation to the acute care hospital, was $88.6 million , resulting in an aggregate $3.2 million loss on sale. Excluding the net loss on sale and real estate impairment, the Company recognized $0.8 million and $3.1 million of net loss from these facilities during the nine months ended September 30, 2016 and 2015, respectively. The sale of these facilities does not represent a strategic shift that has and is not expected to have a major effect on the Company's operations and financial results and therefore the results of operations attributable to these facilities have remained in continuing operations. 2015 Dispositions During the nine months ended September 30, 2015 , the Company completed the sale of three skilled nursing/transitional care facilities and one senior housing facility for aggregate consideration of $16.3 million . The carrying value of the assets and liabilities of these facilities was $18.4 million , which resulted in an aggregate $2.1 million loss on sale.

LOANS RECEIVABLE AND OTHER INVE

LOANS RECEIVABLE AND OTHER INVESTMENTS	9 Months Ended
	Sep. 30, 2016
Loans Receivable and Other Investments [Abstract]
LOANS RECEIVABLE AND OTHER INVESTMENTS	LOANS RECEIVABLE AND OTHER INVESTMENTS As of September 30, 2016 and December 31, 2015 , the Company’s loans receivable and other investments consisted of the following (dollars in thousands): September 30, 2016 Investment Quantity Facility Type Principal Balance as of September 30, 2016 (1) Book Value as of September 30, 2016 Book Value as of Weighted Average Contractual Interest Rate / Rate of Return Weighted Average Annualized Effective Interest Rate / Rate of Return Maturity Dates Loans Receivable: Mortgage 5 Skilled Nursing / Senior Housing $ 38,492 $ 38,534 $ 166,277 9.1 % 8.9 % 11/07/16- 3/31/21 Construction 1 Senior Housing 590 637 75,201 8.0 % 7.7 % 3/31/21 Mezzanine 1 Senior Housing 9,640 9,660 15,613 11.0 % 10.8 % 08/31/17 Pre-development 3 Senior Housing 3,926 3,959 3,768 9.0 % 7.6 % 1/28/17 - 9/09/17 Debtor-in-possession 1 Acute Care Hospital 1,823 1,823 13,625 5.0 % 5.0 % NA 11 54,471 54,613 274,484 9.3 % 9.1 % Loan loss reserve — (3,120 ) (4,300 ) $ 54,471 $ 51,493 $ 270,184 Other Investments: Preferred Equity 11 Skilled Nursing / Senior Housing 42,594 42,973 29,993 12.9 % 12.9 % N/A Total 22 $ 97,065 $ 94,466 $ 300,177 10.9 % 10.8 % (1) Principal balance includes amounts funded and accrued but unpaid interest / preferred return and excludes capitalizable fees. During the nine months ended September 30, 2016 , the Company received aggregate proceeds of $196.1 million , consisting of outstanding principal balance of $170.8 million and $25.3 million of accrued and unpaid interest and fees, in final repayments of the Forest Park - Fort Worth construction loan and the Forest Park - Dallas mortgage loan. As of September 30, 2016 , the Company considered three loan receivable investments to be impaired. The principal balances of the impaired loans were $18.4 million and $30.0 million as of September 30, 2016 and December 31, 2015, respectively. The Company recorded a provision for loan losses related to these loans of $0.2 million and $3.5 million during the three and nine months ended September 30, 2016 , respectively. As of September 30, 2016 , these three loan receivable investments were on nonaccrual status. During the three and nine months ended September 30, 2016 , the Company increased its provision for portfolio-based loan losses by $50,000 and decreased it by $1.4 million , respectively. The Company's specific loan loss reserve and portfolio-based loan loss reserve were $2.7 million and $0.4 million , respectively, as of September 30, 2016 . The Company did not record any specific loan loss reserve or portfolio-based loan loss reserve during the three and nine months ended September 30, 2015 .

DEBT

DEBT	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
DEBT	DEBT Mortgage Indebtedness The Company’s mortgage notes payable consist of the following (dollars in thousands): Interest Rate Type Principal Balance as of (1) Principal Balance as of (1) Weighted Average (2) Maturity Date Fixed Rate $ 165,045 $ 177,850 3.86 % December 2021 - (1) Principal balance does not include deferred financing costs of $ 2.9 million and $3.0 million as of September 30, 2016 and December 31, 2015, respectively. (2) Weighted average effective interest rate includes private mortgage insurance. Mortgage Debt Repayment . In August 2016, the Company repaid a $10.7 million fixed rate mortgage note having an interest rate of 5.60% . Senior Unsecured Notes The Company’s senior unsecured notes consist of the following (dollars in thousands): Principal Balance as of Title Maturity Date September 30, 2016 (1) December 31, 2015 (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) Principal balance does not include discount of $ 0.5 million and $0.6 million as of September 30, 2016 and December 31, 2015, respectively, and also excludes deferred financing costs of $11.9 million and $13.7 million as of September 30, 2016 and December 31, 2015, respectively. 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 12, “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 September 30, 2016 , the Company was in compliance with all applicable financial covenants under the Senior Notes Indentures. Revolving Credit Facility and Term Loans On September 10, 2014, the Operating Partnership entered into an unsecured revolving credit facility (the “Prior Revolving Credit Facility”) that provided for a borrowing capacity of $650.0 million and provided 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 Prior 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% . Borrowings under the Prior Revolving Credit Facility bore 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) a base rate determined as the greater of (i) the federal funds rate plus 0.5% , (ii) the prime rate, and (iii) one-month LIBOR plus 1.0% (referred to as the “Base Rate”). The applicable percentage for borrowings varied based on the Consolidated Leverage Ratio, as defined in the credit agreement for the Prior Revolving Credit Facility, and ranged from 2.00% to 2.60% per annum for LIBOR based borrowings and 1.00% to 1.60% per annum for borrowings at the Base Rate. In addition, the Operating Partnership was required to pay an unused fee to the lenders equal to 0.25% or 0.35% per annum based on the amount of unused borrowings under the Prior Revolving Credit Facility. 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 "Prior Canadian Term Loan") that bore a variable interest rate of the Canadian Dollar Offer Rate (“CDOR”) plus 2.00% - 2.60% depending on the Company's consolidated leverage ratio. On January 14, 2016, the Operating Partnership and Sabra Canadian Holdings, LLC (together, the “Borrowers”), entered into a third amended and restated unsecured credit facility (the “Credit Facility”). The Credit Facility amends and restates the Prior Revolving Credit Facility and replaces the Prior Canadian Term Loan. The Credit Facility includes a revolving credit facility (the “Revolving Credit Facility”) and U.S. dollar and Canadian dollar term loans (collectively, the “Term Loans”). The Revolving Credit Facility provides for a borrowing capacity of $500.0 million and, in addition, increases the Company's U.S. dollar and Canadian dollar term loans to $245.0 million and CAD $125.0 million , respectively. Further, up to $125.0 million of the Revolving Credit Facility may be used for borrowings in certain foreign currencies. The Credit Facility also contains an accordion feature that can increase the total available borrowings to $1.25 billion , subject to terms and conditions. In addition, the Canadian dollar term loan was re-designated as a net investment hedge (see Note 8, “Derivative and Hedging Instruments” for further information). The Revolving Credit Facility has a maturity date of January 14, 2020, and includes two six -month extension options. The Term Loans have a maturity date of January 14, 2021. As of September 30, 2016 , there were no amounts outstanding under the Revolving Credit Facility and $500.0 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) a base rate determined as the greater of (i) the federal funds rate plus 0.5% , (ii) the prime rate, and (iii) one-month LIBOR plus 1.0% (the "Base Rate"). The applicable percentage for borrowings will vary based on the Consolidated Leverage Ratio, as defined in the credit agreement, and will range from 1.80% to 2.40% per annum for LIBOR based borrowings and 0.80% to 1.40% per annum for borrowings at the Base Rate. As of September 30, 2016 , the interest rate on the Revolving Credit Facility was 2.53% . In addition, the Operating Partnership pays an unused facility fee to the lenders equal to 0.25% or 0.30% per annum, which is determined by usage under the Revolving Credit Facility. During the three and nine months ended September 30, 2016 , the Company incurred $23,000 and $2.3 million , respectively, in interest expense on amounts outstanding under the Revolving Credit Facility. During the three and nine months ended September 30, 2016 , the Company incurred $0.4 million and $0.9 million , respectively, of unused facility fees. The U.S. dollar term loan bears 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. The applicable percentage for borrowings will vary based on the Consolidated Leverage Ratio, as defined in the credit agreement, and will range from 1.75% to 2.35% per annum for LIBOR based borrowings and 0.75% to 1.35% per annum for borrowings at the Base Rate. The Canadian dollar term loan bears interest on the outstanding principal amount at a rate equal to the Canadian Dollar Offer Rate (“CDOR”) plus 1.75% to 2.35% depending on the Consolidated Leverage Ratio. On June 10, 2015, concurrently with entering into the Prior Canadian Term Loan, the Company entered into an interest rate swap agreement to fix the CDOR portion of the interest rate for this CAD $90.0 million term loan at 1.59% . In addition, the Prior Canadian Term Loan was designated as a net investment hedge (see Note 8, “Derivative and Hedging Instruments” for further information). On August 10, 2016, the Company entered into two interest rate swap agreements to fix the LIBOR portion of the interest rate for its $245.0 million U.S. dollar term loan at 0.90% and one interest rate swap agreement to fix the CDOR portion on CAD $35.0 million of its Canadian dollar term loan at 0.93% . In addition, the Company terminated the five -year interest rate cap contract that capped LIBOR at 2.0% . In the event that Sabra achieves investment grade ratings from at least two of S&P, Moody’s and/or Fitch, the Operating Partnership can elect to reduce the applicable percentage for LIBOR or Base Rate borrowings. If the Operating Partnership makes this election, the applicable percentage for borrowings will vary based on the Debt Ratings at each Pricing Level, as defined in the credit agreement, and will range from 0.90% to 1.70% per annum for LIBOR based borrowings under the Revolving Credit Facility, 1.00% to 1.95% per annum for LIBOR or CDOR based borrowings under the Term Loans, 0.00% to 0.70% per annum for borrowings at the Base Rate under the Revolving Credit Facility, and 0.00% to 0.95% per annum for borrowings at the Base Rate under the U.S. dollar term loan. In addition, should the Operating Partnership elect this option, the unused fee will no longer apply and a facility fee ranging between 0.125% and 0.300% per annum will take effect based on the borrowing capacity regardless of amounts outstanding under the Revolving Credit Facility. The obligations of the Borrowers under the Credit Facility are guaranteed by Sabra and certain subsidiaries of Sabra. The Credit Facility contains customary covenants that include restrictions or limitations on the ability to make acquisitions and other investments, pay dividends, incur additional indebtedness, engage in non-healthcare related business activities, enter into transactions with affiliates and sell or otherwise transfer certain assets as well as customary events of default. The 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 September 30, 2016 , the Company was in compliance with all applicable financial covenants under the Credit Facility. Interest Expense During the three and nine months ended September 30, 2016 , the Company incurred interest expense of $15.8 million and $49.1 million , respectively, and $15.2 million and $43.1 million during the three and nine months ended September 30, 2015 , respectively. Interest expense includes financing costs amortization of $1.3 million and $3.8 million for the three and nine months ended September 30, 2016 , respectively, and $1.3 million and $3.8 million for the three and nine months ended September 30, 2015 , respectively. As of September 30, 2016 and December 31, 2015 , the Company had $9.6 million and $ 13.3 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 September 30, 2016 (in thousands): Mortgage Indebtedness Term Loans Senior Notes Total October 1, 2016 through December 31, 2016 $ 1,013 $ — $ — $ 1,013 2017 4,139 — — 4,139 2018 4,277 — — 4,277 2019 4,420 — — 4,420 2020 4,568 — — 4,568 Thereafter 146,628 340,112 700,000 1,186,740 Total Principal Balance 165,045 340,112 700,000 1,205,157 Discount — — (543 ) (543 ) Deferred financing costs (2,915 ) (2,471 ) (11,850 ) (17,236 ) Total Debt, net $ 162,130 $ 337,641 $ 687,607 $ 1,187,378

DERIVATIVE AND HEDGING INSTRUME

DERIVATIVE AND HEDGING INSTRUMENTS	9 Months Ended
	Sep. 30, 2016
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 in the Company’s functional currency, the U.S. dollar, of the Company’s investment in foreign operations, the cash receipts and payments related to these foreign operations and payments of interest and principal under Canadian dollar denominated debt. The Company enters into derivative financial instruments to protect the value of its foreign investments and fix a portion of the interest payments for certain debt obligations. 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. Approximately $3.6 million of losses, which are included in accumulated other comprehensive loss, as of September 30, 2016 , are expected to be reclassified into earnings in the next 12 months. During the nine months ended September 30, 2016, the Company terminated its interest rate cap, generating cash proceeds of $0.3 million . The balance of the loss in other comprehensive income will be reclassified to earnings through 2019. Net Investment Hedges The Company is exposed to fluctuations in foreign exchange rates on investments it holds in Canada. The Company uses cross currency interest rate swaps to hedge its exposure to changes in foreign exchange rates on these foreign investments. The following presents the notional amount of derivatives instruments as of the dates indicated (in thousands): September 30, 2016 December 31, 2015 Derivatives designated as cash flow hedges: Denominated in U.S. Dollars $ 245,000 $ 200,000 Denominated in Canadian Dollars $ 125,000 $ 90,000 Derivatives designated as net investment hedges: Denominated in Canadian Dollars $ 56,300 $ 56,300 Financial instrument designated as net investment hedge: Denominated in Canadian Dollars $ 125,000 $ 90,000 The following is a summary of the derivative and financial instruments designated as hedging instruments held by the Company at September 30, 2016 and December 31, 2015 (in thousands): September 30, 2016 December 31, 2015 Maturity Dates Type Designation Count Fair Value Balance Sheet Location Assets: Interest rate cap Cash Flow — $ — $ 1,695 2019 Prepaid expenses, deferred financing costs and other assets, net Interest rate swap Cash Flow 2 452 — 2021 Prepaid expenses, deferred financing costs and other assets, net Cross currency interest rate swaps Net Investment 2 3,173 5,392 2025 Prepaid expenses, deferred financing costs and other assets, net $ 3,625 $ 7,087 Liabilities: Interest rate swap Cash Flow 2 $ 1,724 $ 1,468 2020 - 2021 Accounts payable and accrued liabilities CAD Term Loan Net Investment 1 95,112 64,890 2020 Term loans, net $ 96,836 $ 66,358 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 nine months ended September 30, 2016 : Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion) Income Statement Location Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Cash Flow Hedges: Interest Rate Products $ (40 ) $ (1,991 ) $ (2,019 ) $ (4,626 ) Interest Expense Net Investment Hedges: Foreign Currency Products 102 4,600 (2,118 ) 4,436 N/A CAD Term Loan 1,363 (5,733 ) (5,863 ) (6,129 ) N/A $ 1,425 $ (3,124 ) $ (10,000 ) $ (6,319 ) Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion) Income Statement Location Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Cash Flow Hedges: Interest Rate Products $ (413 ) $ (136 ) $ (802 ) $ (161 ) Interest Expense Net Investment Hedges: Foreign Currency Products — — — — N/A CAD Term Loan — — — — N/A $ (413 ) $ (136 ) $ (802 ) $ (161 ) During the three and nine months ended September 30, 2016 , the Company determined that a portion of a cash flow hedge was ineffective and recognized $0.4 million of unrealized gains related to its interest rate swaps to other income (expense) in the condensed consolidated statements of income. Offsetting Derivatives The Company enters 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 September 30, 2016 and December 31, 2015: As of September 30, 2016 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 $ 3,625 $ — $ 3,625 $ (1,607 ) $ — $ 2,018 Offsetting Liabilities: Derivatives $ 1,724 $ — $ 1,724 $ (1,607 ) $ — $ 117 As of December 31, 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 $ 7,087 $ — $ 7,087 $ (1,468 ) $ — $ 5,619 Offsetting Liabilities: Derivatives $ 1,468 $ — $ 1,468 $ (1,468 ) $ — $ — 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 a 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 September 30, 2016 , 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 $0.4 million . As of September 30, 2016 , the Company has not posted any collateral related to these agreements. If the Company had breached any of these provisions at September 30, 2016 , it could have been required to settle its obligations under the agreements at their termination value of $0.4 million .

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	FAIR VALUE DISCLOSURES Financial Instruments 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 and the Credit Facility 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. As such, the Company classifies these instruments as Level 3. 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. As such, the Company classifies these instruments as Level 3. 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. Although the Company has determined that the majority of the inputs used to value its derivative financial instruments fall within level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivative financial instruments utilize level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. The Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its derivative financial instruments. As a result, the Company has determined that its derivative financial instruments valuations in their entirety are classified in level 2 of the fair value hierarchy. Senior Notes : These instruments are presented in the accompanying condensed consolidated balance sheets at their outstanding principal balance, net of unamortized deferred financing costs and premiums (discounts) and not at fair value. The fair values of the Senior Notes were determined using third-party market quotes derived from orderly trades. As such, the Company classifies these instruments as Level 2. Mortgage indebtedness : These instruments are presented in the accompanying condensed consolidated balance sheets at their outstanding principal balance, net of unamortized deferred financing costs and premiums (discounts) 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. As such, the Company classifies these instruments as Level 3. The following are the face values, carrying amounts and fair values of the Company’s financial instruments as of September 30, 2016 and December 31, 2015 whose carrying amounts do not approximate their fair value (in thousands): September 30, 2016 December 31, 2015 Carrying Amount (1) Face (2) Fair Value Carrying (1) Face (2) Fair Value Financial assets: Loans receivable $ 54,613 $ 54,471 $ 55,485 $ 270,184 $ 273,811 $ 274,628 Preferred equity investments 42,973 42,594 45,538 29,993 29,643 30,838 Financial liabilities: Senior Notes 687,607 700,000 726,000 685,704 700,000 718,500 Mortgage indebtedness 162,130 165,045 161,922 174,846 177,850 165,296 (1) Carrying amounts represent the book value of financial instruments and are net of unamortized premiums (discounts) and deferred financing costs. (2) Face value represents amounts contractually due under the terms of the respective agreements. The Company determined the fair value of financial instruments as of September 30, 2016 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 $ 55,485 $ — $ — $ 55,485 Preferred equity investments 45,538 — — 45,538 Financial liabilities: Senior Notes 726,000 — 726,000 — Mortgage indebtedness 161,922 — — 161,922 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. Items Measured at Fair Value on a Recurring Basis During the nine months ended September 30, 2016 , 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 swap $ 452 $ — $ 452 $ — Cross currency swap 3,173 — 3,173 — Financial liabilities: Contingent consideration liability 2,400 — — 2,400 Interest rate swap 1,724 — 1,724 — The Company entered into contingent consideration arrangements as a result of four acquisitions 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 arrangements, the Company used significant inputs not observable in the market to estimate the contingent consideration. 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 September 30, 2016 , the total contingent consideration liability was valued at $2.4 million and the contingent consideration asset was valued at $0 . The following reconciliation provides the details of activity for contingent consideration liability recorded at fair value using Level 3 inputs (in thousands): Balance as of December 31, 2015 $ 2,700 Decrease in contingent consideration liability (300 ) Balance as of September 30, 2016 $ 2,400 The following reconciliation provides the details of activity for contingent consideration asset recorded at fair value using Level 3 inputs (in thousands): Balance as of December 31, 2015 $ 350 Decrease in contingent consideration asset (350 ) Balance as of September 30, 2016 $ — A corresponding amount equal to the decrease in contingent consideration liability and asset were included as other income on the accompanying condensed consolidated statements of income for the nine months ended September 30, 2016 .

EQUITY

EQUITY	9 Months Ended
	Sep. 30, 2016
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 September 30, 2016 , 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 nine months ended September 30, 2016 : Declaration Date Record Date Amount Per Share Dividend Payable Date February 3, 2016 February 16, 2016 $ 0.41 February 29, 2016 May 2, 2016 May 16, 2016 0.42 May 31, 2016 August 1, 2016 August 15, 2016 0.42 August 31, 2016 During the nine months ended September 30, 2016 , the Company issued 0.1 million shares of common stock as a result of restricted stock unit vestings and in connection with amounts payable under the Company's 2015 Bonus Plan pursuant to an election by certain participants to receive their bonus in the form of an equity award. 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 nine months ended September 30, 2016 , pursuant to advance elections made by certain participants, the Company incurred $1.1 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. Accumulated Other Comprehensive Loss The following is a summary of the Company’s accumulated other comprehensive loss (in thousands): September 30, 2016 December 31, 2015 Foreign currency translation $ (2,183 ) $ (1,433 ) Unrealized losses on cash flow hedges (7,199 ) (5,900 ) Total accumulated other comprehensive loss $ (9,382 ) $ (7,333 )

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	9 Months Ended
	Sep. 30, 2016
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 nine months ended September 30, 2016 and 2015 (in thousands, except share and per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Numerator Net income attributable to common stockholders $ 22,776 $ 15,500 $ 39,419 $ 46,664 Denominator Basic weighted average common shares and common equivalents 65,312,288 65,160,290 65,285,591 61,244,991 Dilutive restricted stock units 279,140 237,885 184,998 223,612 Diluted weighted average common shares 65,591,428 65,398,175 65,470,589 61,468,603 Net income attributable to common stockholders, per: Basic common share $ 0.35 $ 0.24 $ 0.60 $ 0.76 Diluted common share $ 0.35 $ 0.24 $ 0.60 $ 0.76 During the three and nine months ended September 30, 2016 , approximately 1,200 and 15,600 restricted stock units, respectively, were not included in computing diluted earnings per share because they were considered anti-dilutive. During the three and nine months ended September 30, 2015 , approximately 100 and 6,000 restricted stock units, respectively, were not included because they were considered anti-dilutive.

SUMMARIZED CONDENSED CONSOLIDAT

SUMMARIZED CONDENSED CONSOLIDATING INFORMATION	9 Months Ended
	Sep. 30, 2016
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. 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 September 30, 2016 (in thousands) (unaudited) Parent Company Issuers Combined Guarantor Subsidiaries Combined Non- Guarantor Subsidiaries Elimination Consolidated Assets Real estate investments, net of accumulated depreciation $ 156 $ — $ 1,781,095 $ 218,527 $ — $ 1,999,778 Loans receivable and other investments, net (400 ) — 97,167 — (2,301 ) 94,466 Cash and cash equivalents 14,258 — 2,487 2,929 — 19,674 Restricted cash — — 152 8,998 — 9,150 Prepaid expenses, deferred financing costs and other assets, net 403 12,372 95,296 11,399 (3,117 ) 116,353 Intercompany 407,320 669,338 — — (1,076,658 ) — Investment in subsidiaries 607,204 867,360 67,262 — (1,541,826 ) — Total assets $ 1,028,941 $ 1,549,070 $ 2,043,459 $ 241,853 $ (2,623,902 ) $ 2,239,421 Liabilities Mortgage notes, net $ — $ — $ — $ 162,130 $ — $ 162,130 Term loans, net — 243,540 94,101 — — 337,641 Senior unsecured notes, net — 687,607 — — — 687,607 Accounts payable and accrued liabilities 15,094 10,719 12,945 1,515 (2,117 ) 38,156 Intercompany — — 1,032,675 43,983 (1,076,658 ) — Total liabilities 15,094 941,866 1,139,721 207,628 (1,078,775 ) 1,225,534 Total Sabra Health Care REIT, Inc. stockholders' equity 1,013,847 607,204 903,738 34,185 (1,545,127 ) 1,013,847 Noncontrolling interests — — — 40 — 40 Total equity 1,013,847 607,204 903,738 34,225 (1,545,127 ) 1,013,887 Total liabilities and equity $ 1,028,941 $ 1,549,070 $ 2,043,459 $ 241,853 $ (2,623,902 ) $ 2,239,421 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2015 (in thousands) Parent Company Issuers Combined Guarantor Subsidiaries Combined Non- Guarantor Subsidiaries Elimination Consolidated Assets Real estate investments, net of accumulated depreciation $ 48 $ — $ 1,816,813 $ 222,755 $ — $ 2,039,616 Loans receivable and other investments, net — — 302,282 — (2,105 ) 300,177 Cash and cash equivalents 2,548 — 1,008 3,878 — 7,434 Restricted cash — — 1,618 8,195 — 9,813 Prepaid expenses, deferred financing costs and other assets, net 2,047 13,384 89,590 9,522 (2,746 ) 111,797 Intercompany 489,763 918,209 — — (1,407,972 ) — Investment in subsidiaries 568,841 792,065 55,439 — (1,416,345 ) — Total assets $ 1,063,247 $ 1,723,658 $ 2,266,750 $ 244,350 $ (2,829,168 ) $ 2,468,837 Liabilities Mortgage notes, net $ — $ — $ — $ 174,846 $ — $ 174,846 Revolving credit facility — 255,000 — — — 255,000 Term loans, net — 200,000 64,229 — — 264,229 Senior unsecured notes, net — 685,704 — — — 685,704 Accounts payable and accrued liabilities 9,477 14,113 11,254 2,084 (1,746 ) 35,182 Intercompany — — 1,391,115 16,857 (1,407,972 ) — Total liabilities 9,477 1,154,817 1,466,598 193,787 (1,409,718 ) 1,414,961 Total Sabra Health Care REIT, Inc. stockholders' equity 1,053,770 568,841 800,152 50,457 (1,419,450 ) 1,053,770 Noncontrolling interests — — — 106 — 106 Total equity 1,053,770 568,841 800,152 50,563 (1,419,450 ) 1,053,876 Total liabilities and equity $ 1,063,247 $ 1,723,658 $ 2,266,750 $ 244,350 $ (2,829,168 ) $ 2,468,837 CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Three Months Ended September 30, 2016 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Guarantor Subsidiaries Combined Non-Guarantor Elimination Consolidated Revenues: Rental income $ — $ — $ 50,346 $ 6,726 $ (239 ) $ 56,833 Interest and other income 1 — 3,224 — (68 ) 3,157 Resident fees and services — — 1,411 526 — 1,937 Total revenues 1 — 54,981 7,252 (307 ) 61,927 Expenses: Depreciation and amortization 211 — 14,838 2,053 — 17,102 Interest — 13,215 778 1,801 — 15,794 Operating expenses — — 993 650 (239 ) 1,404 General and administrative 4,528 21 1,579 43 — 6,171 Provision for (recovery of) doubtful accounts and loan losses 566 — (26 ) — — 540 Total expenses 5,305 13,236 18,162 4,547 (239 ) 41,011 Other income (expense): Other income (loss) 2,636 400 (91 ) — — 2,945 Net loss on sales of real estate — — 1,451 — — 1,451 Total other income (expense) 2,636 400 1,360 — — 4,396 Income in subsidiary 28,073 40,909 2,742 — (71,724 ) — Net income 25,405 28,073 40,921 2,705 (71,792 ) 25,312 Net loss attributable to noncontrolling interests — — — 25 — 25 Net income attributable to Sabra Health Care REIT, Inc. 25,405 28,073 40,921 2,730 (71,792 ) 25,337 Preferred stock dividends (2,561 ) — — — — (2,561 ) Net income attributable to common stockholders $ 22,844 $ 28,073 $ 40,921 $ 2,730 $ (71,792 ) $ 22,776 Net loss attributable to common stockholders, per: Basic common share $ 0.35 Diluted common share $ 0.35 Weighted-average number of common shares outstanding, basic 65,312,288 Weighted-average number of common shares outstanding, diluted 65,591,428 CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Three Months Ended September 30, 2015 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Combined Non-Guarantor Elimination Consolidated Revenues: Rental income $ — $ — $ 47,760 $ 5,413 $ — $ 53,173 Interest and other income — 129 6,211 — (129 ) 6,211 Resident fees and services — — — 550 — 550 Total revenues — 129 53,971 5,963 (129 ) 59,934 Expenses: Depreciation and amortization 14 — 14,674 1,618 — 16,306 Interest — 13,211 676 1,418 (129 ) 15,176 Operating expenses — — — 444 — 444 General and administrative 2,759 18 731 39 — 3,547 Provision for doubtful accounts 113 — 2,376 — — 2,489 Total expenses 2,886 13,229 18,457 3,519 (129 ) 37,962 Other income (expense): Other income (expense) — 502 (602 ) — — (100 ) Net loss on sales of real estate — — (3,838 ) — — (3,838 ) Total other income (expense) — 502 (4,440 ) — — (3,938 ) Income in subsidiary 20,947 33,545 2,282 — (56,774 ) — Net income 18,061 20,947 33,356 2,444 (56,774 ) 18,034 Net loss attributable to noncontrolling interests — — — 27 — 27 Net income attributable to Sabra Health Care REIT, Inc. 18,061 20,947 33,356 2,471 (56,774 ) 18,061 Preferred stock dividends (2,561 ) — — — — (2,561 ) Net income attributable to common stockholders $ 15,500 $ 20,947 $ 33,356 $ 2,471 $ (56,774 ) $ 15,500 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 65,160,290 Weighted-average number of common shares outstanding, diluted 65,398,175 CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Nine Months Ended September 30, 2016 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Combined Non-Guarantor Elimination Consolidated Revenues: Rental income $ — $ — $ 147,989 $ 20,169 $ (716 ) $ 167,442 Interest and other income 3 — 25,711 (25 ) (207 ) 25,482 Resident fees and services — — 4,169 1,642 — 5,811 Total revenues 3 — 177,869 21,786 (923 ) 198,735 Expenses: Depreciation and amortization 595 — 44,485 6,193 — 51,273 Interest — 41,238 2,372 5,529 — 49,139 Operating expenses — — 2,977 2,006 (727 ) 4,256 General and administrative 12,715 43 2,607 156 — 15,521 (Recovery of) provision for doubtful accounts and loan losses (89 ) — 3,375 — — 3,286 Impairment of real estate — — 29,811 — — 29,811 Total expenses 13,221 41,281 85,627 13,884 (727 ) 153,286 Other income (expense): Loss on extinguishment of debt — (468 ) (88 ) — — (556 ) Other income (expense) 4,732 916 (230 ) (73 ) — 5,345 Net loss on sales of real estate — — (3,203 ) — — (3,203 ) Total other income (expense) 4,732 448 (3,521 ) (73 ) — 1,586 Income in subsidiary 55,783 96,616 8,046 — (160,445 ) — Net income 47,297 55,783 96,767 7,829 (160,641 ) 47,035 Net loss attributable to noncontrolling interests — — — 66 — 66 Net income attributable to Sabra Health Care REIT, Inc. 47,297 55,783 96,767 7,895 (160,641 ) 47,101 Preferred stock dividends (7,682 ) — — — — (7,682 ) Net income attributable to common stockholders $ 39,615 $ 55,783 $ 96,767 $ 7,895 $ (160,641 ) $ 39,419 Net income attributable to common stockholders, per: Basic common share $ 0.60 Diluted common share $ 0.60 Weighted-average number of common shares outstanding, basic 65,285,591 Weighted-average number of common shares outstanding, diluted 65,470,589 CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Nine Months Ended September 30, 2015 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Combined Non-Guarantor Elimination Consolidated Revenues: Rental income $ — $ — $ 137,249 $ 15,325 $ — $ 152,574 Interest and other income 1 226 17,521 — (154 ) 17,594 Resident fees and services — — — 1,924 — 1,924 Total revenues 1 226 154,770 17,249 (154 ) 172,092 Expenses: Depreciation and amortization 41 — 40,357 4,555 — 44,953 Interest — 38,427 836 3,999 (154 ) 43,108 Operating expenses — — — 1,442 — 1,442 General and administrative 12,251 21 6,858 140 — 19,270 Provision for doubtful accounts and write-offs (488 ) — 7,093 — — 6,605 Total expenses 11,804 38,448 55,144 10,136 (154 ) 115,378 Other income (expense): Other income (expense) — 1,671 (1,971 ) — — (300 ) Net loss on sales of real estate — — (2,115 ) — — (2,115 ) Total other income (expense) — 1,671 (4,086 ) — — (2,415 ) Income in subsidiary 66,149 102,700 6,697 — (175,546 ) — Net income 54,346 66,149 102,237 7,113 (175,546 ) 54,299 Net loss attributable to noncontrolling interests — — — 47 — 47 Net income attributable to Sabra Health Care REIT, Inc. 54,346 66,149 102,237 7,160 (175,546 ) 54,346 Preferred stock dividends (7,682 ) — — — — (7,682 ) Net income attributable to common stockholders $ 46,664 $ 66,149 $ 102,237 $ 7,160 $ (175,546 ) $ 46,664 Net income attributable to common stockholders, per: Basic common share $ 0.76 Diluted common share $ 0.76 Weighted-average number of common shares outstanding, basic 61,244,991 Weighted-average number of common shares outstanding, diluted 61,468,603 CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Three Months Ended September 30, 2016 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Combined Non-Guarantor Elimination Consolidated Net income $ 25,405 $ 28,073 $ 40,921 $ 2,705 $ (71,792 ) $ 25,312 Other comprehensive income (loss): Foreign currency translation — 153 (514 ) (139 ) — (500 ) Unrealized loss on cash flow hedge — 398 — — — 398 Total other comprehensive income(loss) — 551 (514 ) (139 ) — (102 ) Comprehensive income 25,405 28,624 40,407 2,566 (71,792 ) 25,210 Comprehensive loss attributable to noncontrolling interest — — — 25 — 25 Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 25,405 $ 28,624 $ 40,407 $ 2,591 $ (71,792 ) $ 25,235 CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Three Months Ended September 30, 2015 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Combined Non-Guarantor Elimination Consolidated Net income $ 18,061 $ 20,947 $ 33,356 $ 2,444 $ (56,774 ) $ 18,034 Other comprehensive income (loss): Foreign currency translation — 4,609 (2,765 ) (874 ) — 970 Unrealized loss on cash flow hedge — (1,781 ) — — — (1,781 ) Total other comprehensive income (loss) — 2,828 (2,765 ) (874 ) — (811 ) Comprehensive income 18,061 23,775 30,591 1,570 (56,774 ) 17,223 Comprehensive loss attributable to noncontrolling interest — — — 27 — 27 Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 18,061 $ 23,775 $ 30,591 $ 1,597 $ (56,774 ) $ 17,250 CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Nine Months Ended September 30, 2016 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Combined Non-Guarantor Elimination Consolidated Net income $ 47,297 $ 55,783 $ 96,767 $ 7,829 $ (160,641 ) $ 47,035 Other comprehensive (loss) income: Foreign currency translation — (2,204 ) 1,148 307 — (749 ) Unrealized loss on cash flow hedge — (1,300 ) — — — (1,300 ) Total other comprehensive (loss) income — (3,504 ) 1,148 307 — (2,049 ) Comprehensive income 47,297 52,279 97,915 8,136 (160,641 ) 44,986 Comprehensive loss attributable to noncontrolling interest — — — 66 — 66 Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 47,297 $ 52,279 $ 97,915 $ 8,202 $ (160,641 ) $ 45,052 CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Nine Months Ended September 30, 2015 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Combined Non-Guarantor Elimination Consolidated Net income $ 54,346 $ 66,149 $ 102,237 $ 7,113 $ (175,546 ) $ 54,299 Other comprehensive (loss) income: Foreign currency translation — 4,445 (3,091 ) (979 ) — 375 Unrealized loss on cash flow hedge — (4,470 ) — — — (4,470 ) Total other comprehensive loss — (25 ) (3,091 ) (979 ) — (4,095 ) Comprehensive income 54,346 66,124 99,146 6,134 (175,546 ) 50,204 Comprehensive loss attributable to noncontrolling interest — — — 47 — 47 Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 54,346 $ 66,124 $ 99,146 $ 6,181 $ (175,546 ) $ 50,251 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Nine Months Ended September 30, 2016 (in thousands) (unaudited) Parent Company Issuers Combined Combined Non-Guarantor Elimination Consolidated Net cash provided by operating activities $ 113,886 $ — $ 555 $ 19,375 $ — $ 133,816 Cash flows from investing activities: Acquisitions of real estate — — (109,619 ) — — (109,619 ) Origination and fundings of loans receivable — — (9,478 ) — — (9,478 ) Origination and fundings of preferred equity investments — — (6,845 ) — — (6,845 ) Additions to real estate (124 ) — (400 ) (377 ) — (901 ) Repayment of loans receivable — — 214,947 — — 214,947 Investment in subsidiary (200 ) (200 ) — — 400 — Net proceeds from the sale of real estate — — 85,449 — — 85,449 Distribution from subsidiary 6,404 6,404 — — (12,808 ) — Intercompany financing (17,684 ) 197,638 — — (179,954 ) — Net cash (used in) provided by investing activities (11,604 ) 203,842 174,054 (377 ) (192,362 ) 173,553 Cash flows from financing activities: Net repayments from revolving credit facility — (255,000 ) — — — (255,000 ) Proceeds from term loan — 45,000 24,360 — — 69,360 Principal payments on mortgage notes — — — (13,756 ) — (13,756 ) Payments of deferred financing costs — (5,322 ) (611 ) — — (5,933 ) Issuance of common stock (1,289 ) — — — — (1,289 ) Dividends paid on common and preferred stock (89,283 ) — — — — (89,283 ) Contribution from parent — 200 — 200 (400 ) — Distribution to parent — (6,404 ) — (6,404 ) 12,808 — Intercompany financing — 17,684 (197,638 ) — 179,954 — Net cash used in financing activities (90,572 ) (203,842 ) (173,889 ) (19,960 ) 192,362 (295,901 ) Net increase (decrease) in cash and cash equivalents 11,710 — 720 (962 ) — 11,468 Effect of foreign currency translation on cash and cash equivalents — — 759 13 — 772 Cash and cash equivalents, beginning of period 2,548 — 1,008 3,878 — 7,434 Cash and cash equivalents, end of period $ 14,258 $ — $ 2,487 $ 2,929 $ — $ 19,674 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Nine Months Ended September 30, 2015 (in thousands) (unaudited) Parent Company Issuers Combined Combined Non-Guarantor Elimination Consolidated Net cash provided by operating activities $ 74,256 $ — $ 22 $ 4,837 $ — $ 79,115 Cash flows from investing activities: Acquisitions of real estate — — (375,324 ) (11,248 ) — (386,572 ) Origination and fundings of loans receivable — — (26,207 ) — — (26,207 ) Preferred equity investments — — (9,281 ) — — (9,281 ) Additions to real estate (11 ) — (1,100 ) (485 ) — (1,596 ) DIP Financing — — (3,302 ) — — (3,302 ) Repayment of loans receivable — — 3,285 — — 3,285 Release of contingent consideration held in escrow — — 5,240 — — 5,240 Investment in subsidiaries (414 ) (414 ) — — 828 — Net proceeds from the sale of real estate — — 15,752 — — 15,752 Distribution from subsidiaries 1,355 1,355 — — (2,710 ) — Intercompany financing (165,871 ) (301,642 ) — — 467,513 — Net cash used in investing activities (164,941 ) (300,701 ) (390,937 ) (11,733 ) 465,631 (402,681 ) Cash flows from financing activities: Net repayments from revolving credit facility — 136,000 — — — 136,000 Proceeds from term loan — — 73,242 — — 73,242 Proceeds from mortgage notes — — — 28,735 — 28,735 Principal payments on mortgage notes — — — (2,184 ) — (2,184 ) Payments of deferred financing costs — (229 ) (714 ) (371 ) — (1,314 ) Issuance of common stock 139,617 — — — — 139,617 Dividends paid on common and preferred stock (80,619 ) — — — — (80,619 ) Contribution from parent — 414 — 414 (828 ) — Distribution to parent — (1,355 ) — (1,355 ) 2,710 — Intercompany financing — 165,871 318,618 (16,976 ) (467,513 ) — Net cash provided by financing activities 58,998 300,701 391,146 8,263 (465,631 ) 293,477 Net (decrease) increase in cash and cash equivalents (31,687 ) — 231 1,367 — (30,089 ) Effect of foreign currency translation on cash and cash equivalents (203 ) — (20 ) (8 ) — (231 ) Cash and cash equivalents, beginning of period 58,799 — — 2,994 — 61,793 Cash and cash equivalents, end of period $ 26,909 $ — $ 211 $ 4,353 $ — $ 31,473

PRO FORMA FINANCIAL INFORMATION

PRO FORMA FINANCIAL INFORMATION	9 Months Ended
	Sep. 30, 2016
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 nine months ended September 30, 2016 and 2015 to give effect to acquisitions completed during the nine months ended September 30, 2016 and 2015. The Company acquired one skilled nursing/transitional care facility and three senior housing facilities during the nine months ended September 30, 2016 . The Company acquired three skilled nursing/transitional care facilities and 19 senior housing facilities during the nine months ended September 30, 2015 . 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 September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands, except share and per share amounts) Revenues $ 62,858 $ 63,890 $ 204,889 $ 198,021 Depreciation and amortization 17,404 17,714 53,111 53,301 Net income attributable to common stockholders 24,512 22,392 44,842 69,930 Net income attributable to common stockholders, per: Basic common share $ 0.38 $ 0.34 $ 0.69 $ 1.14 Diluted common share $ 0.37 $ 0.34 $ 0.68 $ 1.14 Weighted-average number of common shares outstanding, basic 65,312,288 65,160,290 65,285,591 61,244,991 Weighted-average number of common shares outstanding, diluted 65,591,428 65,398,175 65,470,589 61,468,603 Acquisition pursuit costs of $1.1 million related to acquisitions completed during the three and nine months ended September 30, 2016 are not expected to have a continuing impact and, therefore, have been excluded from these pro forma results.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2016
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 September 30, 2016 , 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	9 Months Ended
	Sep. 30, 2016
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 November 2, 2016 , the Company announced that its board of directors declared a quarterly cash dividend of $0.42 per share of common stock. The dividend will be paid on November 30, 2016 to common stockholders of record as of the close of business on November 15, 2016 . On November 2, 2016 , 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 November 30, 2016 to preferred stockholders of record as of the close of business on November 15, 2016 .

SUMMARY OF SIGNIFICANT ACCOUN24

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Basis of Accounting	The accompanying condensed consolidated financial statements include the accounts of Sabra and its wholly owned subsidiaries as of September 30, 2016 and December 31, 2015 and for the periods ended September 30, 2016 and 2015. 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 nine months ended September 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 . For further information, refer to the Company’s consolidated financial statements and notes thereto for the year ended December 31, 2015 included in the Company’s 2015 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 voting rights or other means 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 September 30, 2016 , the Company determined it was the primary beneficiary of two senior housing facilities and has consolidated the operations of these facilities in the accompanying condensed consolidated financial statements. As of September 30, 2016 , the Company determined that operations of these facilities 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 September 30, 2016 , none of the Company's investments in loans are accounted for as real estate joint ventures. As it relates to investments in joint ventures, the Company assesses any limited partners' rights and their impact on the presumption of control of the limited partnership by any single partner. The Company reassesses its determination of which entity controls the joint venture if: there is a change to the terms or in the exercisability of the rights of any 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 balance sheets and condensed consolidated statements of income.
Recently Issued Accounting Standards Update	In January 2016, the FASB issued ASU 2016-01, Financial Instruments–Overall (Subtopic 825-10) (“ASU 2016-01”). ASU 2016-01 updates guidance related to recognition and measurement of financial assets and financial liabilities. ASU 2016-01 requires all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under the equity method of accounting or those that result in consolidation of the investee). The amendments in ASU 2016-01 also require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition, the amendments in ASU 2016-01 eliminate the requirement to disclose the methods and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet for public business entities. ASU 2016-01 is effective for fiscal years and interim periods within those years beginning after December 15, 2017, with early adoption permitted. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements when adopted. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”). ASU 2016-02 supersedes guidance related to accounting for leases. ASU 2016-02 updates guidance around the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous GAAP. The objective of ASU 2016-02 is to establish the principles that lessees and lessors shall apply to report useful information to users of financial statements about the amount, timing, and uncertainty of cash flows arising from a lease. ASU 2016-02 does not fundamentally change lessor accounting, however, some changes have been made to lessor accounting to conform and align that guidance with the lessee guidance and other areas within GAAP. ASU 2016-02 is effective for fiscal years and interim periods within those years beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements when adopted. In March 2016, the FASB issued ASU 2016-07, Equity Method and Joint Ventures (Topic 323) (“ASU 2016-07”). ASU 2016-07 simplifies the accounting for equity method investments. ASU 2016-07 eliminates the requirement in Topic 323 that an entity retroactively adopt the equity method of accounting if an investment qualifies for use of the equity method as a result of an increase in the level of ownership or degree of influence. The amendments require that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor’s previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method accounting. ASU 2016-07 is effective for fiscal years and interim periods within those years beginning after December 15, 2016, with early adoption permitted. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements when adopted. In March 2016, the FASB issued ASU 2016-09, Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”). ASU 2016-09 simplifies several aspects of the accounting for employee share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. In addition, the amendments in ASU 2016-09 eliminate the guidance in Topic 718 that was indefinitely deferred shortly after the issuance of FASB Statement No. 123 (revised 2004), Share-Based Payment. ASU 2016-09 is effective for fiscal years and interim periods within those years beginning after December 15, 2016, with early adoption permitted. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements when adopted. In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 requires that a financial asset (or a group of financial assets) measured at amortized cost basis be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. The amendments in ASU 2016-13 are an improvement because they eliminate the probable initial recognition threshold in current GAAP and, instead, reflect an entity’s current estimate of all expected credit losses. Previously, when credit losses were measured under GAAP, an entity generally only considered past events and current conditions in measuring the incurred loss. ASU 2016-13 is effective for fiscal years and interim periods within those years beginning after December 15, 2019, with early adoption permitted as of the fiscal years beginning after December 15, 2018. An entity will apply the amendments in this update through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (that is, a modified-retrospective approach). The Company is currently evaluating the impact this guidance will have on its consolidated financial statements when adopted. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”). ASU 2016-15 provides specific guidance on the following eight specific cash flow classification issues: debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies (including bank-owned life insurance policies); distributions received from equity method investees; beneficial interests in securitization transactions; and separately identifiable cash flows and application of the predominance principle. ASU 2016-15 will reduce the current and potential future diversity in practice of cash flow classifications. ASU 2016-15 is effective for fiscal years and interim periods within those years beginning after December 15, 2017, with early adoption permitted. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements when adopted.
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 and the Credit Facility 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. As such, the Company classifies these instruments as Level 3. 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. As such, the Company classifies these instruments as Level 3. 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. Although the Company has determined that the majority of the inputs used to value its derivative financial instruments fall within level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivative financial instruments utilize level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. The Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its derivative financial instruments. As a result, the Company has determined that its derivative financial instruments valuations in their entirety are classified in level 2 of the fair value hierarchy. Senior Notes : These instruments are presented in the accompanying condensed consolidated balance sheets at their outstanding principal balance, net of unamortized deferred financing costs and premiums (discounts) and not at fair value. The fair values of the Senior Notes were determined using third-party market quotes derived from orderly trades. As such, the Company classifies these instruments as Level 2. Mortgage indebtedness : These instruments are presented in the accompanying condensed consolidated balance sheets at their outstanding principal balance, net of unamortized deferred financing costs and premiums (discounts) 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. As such, the Company classifies these instruments as Level 3.

RECENT REAL ESTATE ACQUISITIO25

RECENT REAL ESTATE ACQUISITIONS (Tables)	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Schedule of Purchase Price Allocation	The consideration was allocated as follows (in thousands): Nine Months Ended September 30, 2016 2015 Land $ 5,521 $ 26,855 Building and Improvements 102,094 372,031 Tenant Origination and Absorption Costs 1,565 5,481 Tenant Relationship 439 1,881 Total Consideration $ 109,619 $ 406,248

REAL ESTATE PROPERTIES HELD F26

REAL ESTATE PROPERTIES HELD FOR INVESTMENT (Tables)	9 Months Ended
	Sep. 30, 2016
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 September 30, 2016 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 102 11,503 $ 1,083,054 $ (194,853 ) $ 888,201 Senior Housing 79 7,059 1,127,631 (67,924 ) 1,059,707 Acute Care Hospital 1 70 61,640 (9,926 ) 51,714 182 18,632 2,272,325 (272,703 ) 1,999,622 Corporate Level 406 (250 ) 156 $ 2,272,731 $ (272,953 ) $ 1,999,778 As of December 31, 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 103 11,515 $ 1,051,189 $ (174,662 ) $ 876,527 Senior Housing 75 6,710 1,050,162 (45,800 ) 1,004,362 Acute Care Hospitals 2 124 175,807 (17,127 ) 158,680 180 18,349 2,277,158 (237,589 ) 2,039,569 Corporate Level 299 (252 ) 47 $ 2,277,457 $ (237,841 ) $ 2,039,616 September 30, 2016 December 31, 2015 Building and improvements $ 1,962,520 $ 1,954,129 Furniture and equipment 85,423 97,840 Land improvements 3,888 3,594 Land 220,900 221,894 2,272,731 2,277,457 Accumulated depreciation (272,953 ) (237,841 ) $ 1,999,778 $ 2,039,616
Schedule of Future Minimum Rental Payments Receivable for Operating Leases	As of September 30, 2016 , the future minimum rental payments from the Company’s properties held for investment under non-cancelable operating leases was as follows (in thousands): October 1, 2016 through December 31, 2016 $ 52,272 2017 212,373 2018 217,914 2019 224,207 2020 230,351 Thereafter 1,306,497 $ 2,243,614

LOANS RECEIVABLE AND OTHER IN27

LOANS RECEIVABLE AND OTHER INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2016
Loans Receivable and Other Investments [Abstract]
Schedule of Loans Receivable and Other Investments	As of September 30, 2016 and December 31, 2015 , the Company’s loans receivable and other investments consisted of the following (dollars in thousands): September 30, 2016 Investment Quantity Facility Type Principal Balance as of September 30, 2016 (1) Book Value as of September 30, 2016 Book Value as of Weighted Average Contractual Interest Rate / Rate of Return Weighted Average Annualized Effective Interest Rate / Rate of Return Maturity Dates Loans Receivable: Mortgage 5 Skilled Nursing / Senior Housing $ 38,492 $ 38,534 $ 166,277 9.1 % 8.9 % 11/07/16- 3/31/21 Construction 1 Senior Housing 590 637 75,201 8.0 % 7.7 % 3/31/21 Mezzanine 1 Senior Housing 9,640 9,660 15,613 11.0 % 10.8 % 08/31/17 Pre-development 3 Senior Housing 3,926 3,959 3,768 9.0 % 7.6 % 1/28/17 - 9/09/17 Debtor-in-possession 1 Acute Care Hospital 1,823 1,823 13,625 5.0 % 5.0 % NA 11 54,471 54,613 274,484 9.3 % 9.1 % Loan loss reserve — (3,120 ) (4,300 ) $ 54,471 $ 51,493 $ 270,184 Other Investments: Preferred Equity 11 Skilled Nursing / Senior Housing 42,594 42,973 29,993 12.9 % 12.9 % N/A Total 22 $ 97,065 $ 94,466 $ 300,177 10.9 % 10.8 % (1) Principal balance includes amounts funded and accrued but unpaid interest / preferred return and excludes capitalizable fees.

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Instrument [Line Items]
Schedule of Maturities of Debt	The following is a schedule of maturities for the Company’s outstanding debt as of September 30, 2016 (in thousands): Mortgage Indebtedness Term Loans Senior Notes Total October 1, 2016 through December 31, 2016 $ 1,013 $ — $ — $ 1,013 2017 4,139 — — 4,139 2018 4,277 — — 4,277 2019 4,420 — — 4,420 2020 4,568 — — 4,568 Thereafter 146,628 340,112 700,000 1,186,740 Total Principal Balance 165,045 340,112 700,000 1,205,157 Discount — — (543 ) (543 ) Deferred financing costs (2,915 ) (2,471 ) (11,850 ) (17,236 ) Total Debt, net $ 162,130 $ 337,641 $ 687,607 $ 1,187,378
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 Principal Balance as of (1) Principal Balance as of (1) Weighted Average (2) Maturity Date Fixed Rate $ 165,045 $ 177,850 3.86 % December 2021 - (1) Principal balance does not include deferred financing costs of $ 2.9 million and $3.0 million as of September 30, 2016 and December 31, 2015, respectively. (2) Weighted average effective interest 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 September 30, 2016 (1) December 31, 2015 (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) Principal balance does not include discount of $ 0.5 million and $0.6 million as of September 30, 2016 and December 31, 2015, respectively, and also excludes deferred financing costs of $11.9 million and $13.7 million as of September 30, 2016 and December 31, 2015, respectively.

DERIVATIVE AND HEDGING INSTRU29

DERIVATIVE AND HEDGING INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following presents the notional amount of derivatives instruments as of the dates indicated (in thousands): September 30, 2016 December 31, 2015 Derivatives designated as cash flow hedges: Denominated in U.S. Dollars $ 245,000 $ 200,000 Denominated in Canadian Dollars $ 125,000 $ 90,000 Derivatives designated as net investment hedges: Denominated in Canadian Dollars $ 56,300 $ 56,300 Financial instrument designated as net investment hedge: Denominated in Canadian Dollars $ 125,000 $ 90,000
Summary of Derivative and Financial 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 September 30, 2016 and December 31, 2015 (in thousands): September 30, 2016 December 31, 2015 Maturity Dates Type Designation Count Fair Value Balance Sheet Location Assets: Interest rate cap Cash Flow — $ — $ 1,695 2019 Prepaid expenses, deferred financing costs and other assets, net Interest rate swap Cash Flow 2 452 — 2021 Prepaid expenses, deferred financing costs and other assets, net Cross currency interest rate swaps Net Investment 2 3,173 5,392 2025 Prepaid expenses, deferred financing costs and other assets, net $ 3,625 $ 7,087 Liabilities: Interest rate swap Cash Flow 2 $ 1,724 $ 1,468 2020 - 2021 Accounts payable and accrued liabilities CAD Term Loan Net Investment 1 95,112 64,890 2020 Term loans, net $ 96,836 $ 66,358
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 nine months ended September 30, 2016 : Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion) Income Statement Location Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Cash Flow Hedges: Interest Rate Products $ (40 ) $ (1,991 ) $ (2,019 ) $ (4,626 ) Interest Expense Net Investment Hedges: Foreign Currency Products 102 4,600 (2,118 ) 4,436 N/A CAD Term Loan 1,363 (5,733 ) (5,863 ) (6,129 ) N/A $ 1,425 $ (3,124 ) $ (10,000 ) $ (6,319 ) Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion) Income Statement Location Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Cash Flow Hedges: Interest Rate Products $ (413 ) $ (136 ) $ (802 ) $ (161 ) Interest Expense Net Investment Hedges: Foreign Currency Products — — — — N/A CAD Term Loan — — — — N/A $ (413 ) $ (136 ) $ (802 ) $ (161 )
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 September 30, 2016 and December 31, 2015: As of September 30, 2016 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 $ 3,625 $ — $ 3,625 $ (1,607 ) $ — $ 2,018 Offsetting Liabilities: Derivatives $ 1,724 $ — $ 1,724 $ (1,607 ) $ — $ 117 As of December 31, 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 $ 7,087 $ — $ 7,087 $ (1,468 ) $ — $ 5,619 Offsetting Liabilities: Derivatives $ 1,468 $ — $ 1,468 $ (1,468 ) $ — $ —
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 September 30, 2016 and December 31, 2015: As of September 30, 2016 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 $ 3,625 $ — $ 3,625 $ (1,607 ) $ — $ 2,018 Offsetting Liabilities: Derivatives $ 1,724 $ — $ 1,724 $ (1,607 ) $ — $ 117 As of December 31, 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 $ 7,087 $ — $ 7,087 $ (1,468 ) $ — $ 5,619 Offsetting Liabilities: Derivatives $ 1,468 $ — $ 1,468 $ (1,468 ) $ — $ —

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	9 Months Ended
	Sep. 30, 2016
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 September 30, 2016 and December 31, 2015 whose carrying amounts do not approximate their fair value (in thousands): September 30, 2016 December 31, 2015 Carrying Amount (1) Face (2) Fair Value Carrying (1) Face (2) Fair Value Financial assets: Loans receivable $ 54,613 $ 54,471 $ 55,485 $ 270,184 $ 273,811 $ 274,628 Preferred equity investments 42,973 42,594 45,538 29,993 29,643 30,838 Financial liabilities: Senior Notes 687,607 700,000 726,000 685,704 700,000 718,500 Mortgage indebtedness 162,130 165,045 161,922 174,846 177,850 165,296 (1) Carrying amounts represent the book value of financial instruments and are net of unamortized premiums (discounts) and deferred financing costs. (2) Face value represents amounts contractually due under the terms of the respective agreements.
Schedule of Amounts Measured at Fair Value	During the nine months ended September 30, 2016 , 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 swap $ 452 $ — $ 452 $ — Cross currency swap 3,173 — 3,173 — Financial liabilities: Contingent consideration liability 2,400 — — 2,400 Interest rate swap 1,724 — 1,724 —
Schedule of Reconciliation for Contingent Consideration Liability/Asset Recorded at Fair Value using Level 3 Inputs	The following reconciliation provides the details of activity for contingent consideration liability recorded at fair value using Level 3 inputs (in thousands): Balance as of December 31, 2015 $ 2,700 Decrease in contingent consideration liability (300 ) Balance as of September 30, 2016 $ 2,400 The following reconciliation provides the details of activity for contingent consideration asset recorded at fair value using Level 3 inputs (in thousands): Balance as of December 31, 2015 $ 350 Decrease in contingent consideration asset (350 ) Balance as of September 30, 2016 $ —
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 September 30, 2016 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 $ 55,485 $ — $ — $ 55,485 Preferred equity investments 45,538 — — 45,538 Financial liabilities: Senior Notes 726,000 — 726,000 — Mortgage indebtedness 161,922 — — 161,922

EQUITY (Tables)

EQUITY (Tables)	9 Months Ended
	Sep. 30, 2016
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 nine months ended September 30, 2016 : Declaration Date Record Date Amount Per Share Dividend Payable Date February 3, 2016 February 16, 2016 $ 0.41 February 29, 2016 May 2, 2016 May 16, 2016 0.42 May 31, 2016 August 1, 2016 August 15, 2016 0.42 August 31, 2016
Summary of Accumulated Other Comprehensive Loss	The following is a summary of the Company’s accumulated other comprehensive loss (in thousands): September 30, 2016 December 31, 2015 Foreign currency translation $ (2,183 ) $ (1,433 ) Unrealized losses on cash flow hedges (7,199 ) (5,900 ) Total accumulated other comprehensive loss $ (9,382 ) $ (7,333 )

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	9 Months Ended
	Sep. 30, 2016
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 nine months ended September 30, 2016 and 2015 (in thousands, except share and per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Numerator Net income attributable to common stockholders $ 22,776 $ 15,500 $ 39,419 $ 46,664 Denominator Basic weighted average common shares and common equivalents 65,312,288 65,160,290 65,285,591 61,244,991 Dilutive restricted stock units 279,140 237,885 184,998 223,612 Diluted weighted average common shares 65,591,428 65,398,175 65,470,589 61,468,603 Net income attributable to common stockholders, per: Basic common share $ 0.35 $ 0.24 $ 0.60 $ 0.76 Diluted common share $ 0.35 $ 0.24 $ 0.60 $ 0.76

SUMMARIZED CONDENSED CONSOLID33

SUMMARIZED CONDENSED CONSOLIDATING INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2016
SUMMARIZED CONDENSED CONSOLIDATING INFORMATION [Abstract]
Schedule of Condensed Consolidating Balance Sheet (unaudited)	CONDENSED CONSOLIDATING BALANCE SHEET September 30, 2016 (in thousands) (unaudited) Parent Company Issuers Combined Guarantor Subsidiaries Combined Non- Guarantor Subsidiaries Elimination Consolidated Assets Real estate investments, net of accumulated depreciation $ 156 $ — $ 1,781,095 $ 218,527 $ — $ 1,999,778 Loans receivable and other investments, net (400 ) — 97,167 — (2,301 ) 94,466 Cash and cash equivalents 14,258 — 2,487 2,929 — 19,674 Restricted cash — — 152 8,998 — 9,150 Prepaid expenses, deferred financing costs and other assets, net 403 12,372 95,296 11,399 (3,117 ) 116,353 Intercompany 407,320 669,338 — — (1,076,658 ) — Investment in subsidiaries 607,204 867,360 67,262 — (1,541,826 ) — Total assets $ 1,028,941 $ 1,549,070 $ 2,043,459 $ 241,853 $ (2,623,902 ) $ 2,239,421 Liabilities Mortgage notes, net $ — $ — $ — $ 162,130 $ — $ 162,130 Term loans, net — 243,540 94,101 — — 337,641 Senior unsecured notes, net — 687,607 — — — 687,607 Accounts payable and accrued liabilities 15,094 10,719 12,945 1,515 (2,117 ) 38,156 Intercompany — — 1,032,675 43,983 (1,076,658 ) — Total liabilities 15,094 941,866 1,139,721 207,628 (1,078,775 ) 1,225,534 Total Sabra Health Care REIT, Inc. stockholders' equity 1,013,847 607,204 903,738 34,185 (1,545,127 ) 1,013,847 Noncontrolling interests — — — 40 — 40 Total equity 1,013,847 607,204 903,738 34,225 (1,545,127 ) 1,013,887 Total liabilities and equity $ 1,028,941 $ 1,549,070 $ 2,043,459 $ 241,853 $ (2,623,902 ) $ 2,239,421 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2015 (in thousands) Parent Company Issuers Combined Guarantor Subsidiaries Combined Non- Guarantor Subsidiaries Elimination Consolidated Assets Real estate investments, net of accumulated depreciation $ 48 $ — $ 1,816,813 $ 222,755 $ — $ 2,039,616 Loans receivable and other investments, net — — 302,282 — (2,105 ) 300,177 Cash and cash equivalents 2,548 — 1,008 3,878 — 7,434 Restricted cash — — 1,618 8,195 — 9,813 Prepaid expenses, deferred financing costs and other assets, net 2,047 13,384 89,590 9,522 (2,746 ) 111,797 Intercompany 489,763 918,209 — — (1,407,972 ) — Investment in subsidiaries 568,841 792,065 55,439 — (1,416,345 ) — Total assets $ 1,063,247 $ 1,723,658 $ 2,266,750 $ 244,350 $ (2,829,168 ) $ 2,468,837 Liabilities Mortgage notes, net $ — $ — $ — $ 174,846 $ — $ 174,846 Revolving credit facility — 255,000 — — — 255,000 Term loans, net — 200,000 64,229 — — 264,229 Senior unsecured notes, net — 685,704 — — — 685,704 Accounts payable and accrued liabilities 9,477 14,113 11,254 2,084 (1,746 ) 35,182 Intercompany — — 1,391,115 16,857 (1,407,972 ) — Total liabilities 9,477 1,154,817 1,466,598 193,787 (1,409,718 ) 1,414,961 Total Sabra Health Care REIT, Inc. stockholders' equity 1,053,770 568,841 800,152 50,457 (1,419,450 ) 1,053,770 Noncontrolling interests — — — 106 — 106 Total equity 1,053,770 568,841 800,152 50,563 (1,419,450 ) 1,053,876 Total liabilities and equity $ 1,063,247 $ 1,723,658 $ 2,266,750 $ 244,350 $ (2,829,168 ) $ 2,468,837
Schedule of Condensed Consolidating Statement of Income (unaudited)	CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Three Months Ended September 30, 2016 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Guarantor Subsidiaries Combined Non-Guarantor Elimination Consolidated Revenues: Rental income $ — $ — $ 50,346 $ 6,726 $ (239 ) $ 56,833 Interest and other income 1 — 3,224 — (68 ) 3,157 Resident fees and services — — 1,411 526 — 1,937 Total revenues 1 — 54,981 7,252 (307 ) 61,927 Expenses: Depreciation and amortization 211 — 14,838 2,053 — 17,102 Interest — 13,215 778 1,801 — 15,794 Operating expenses — — 993 650 (239 ) 1,404 General and administrative 4,528 21 1,579 43 — 6,171 Provision for (recovery of) doubtful accounts and loan losses 566 — (26 ) — — 540 Total expenses 5,305 13,236 18,162 4,547 (239 ) 41,011 Other income (expense): Other income (loss) 2,636 400 (91 ) — — 2,945 Net loss on sales of real estate — — 1,451 — — 1,451 Total other income (expense) 2,636 400 1,360 — — 4,396 Income in subsidiary 28,073 40,909 2,742 — (71,724 ) — Net income 25,405 28,073 40,921 2,705 (71,792 ) 25,312 Net loss attributable to noncontrolling interests — — — 25 — 25 Net income attributable to Sabra Health Care REIT, Inc. 25,405 28,073 40,921 2,730 (71,792 ) 25,337 Preferred stock dividends (2,561 ) — — — — (2,561 ) Net income attributable to common stockholders $ 22,844 $ 28,073 $ 40,921 $ 2,730 $ (71,792 ) $ 22,776 Net loss attributable to common stockholders, per: Basic common share $ 0.35 Diluted common share $ 0.35 Weighted-average number of common shares outstanding, basic 65,312,288 Weighted-average number of common shares outstanding, diluted 65,591,428 CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Three Months Ended September 30, 2015 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Combined Non-Guarantor Elimination Consolidated Revenues: Rental income $ — $ — $ 47,760 $ 5,413 $ — $ 53,173 Interest and other income — 129 6,211 — (129 ) 6,211 Resident fees and services — — — 550 — 550 Total revenues — 129 53,971 5,963 (129 ) 59,934 Expenses: Depreciation and amortization 14 — 14,674 1,618 — 16,306 Interest — 13,211 676 1,418 (129 ) 15,176 Operating expenses — — — 444 — 444 General and administrative 2,759 18 731 39 — 3,547 Provision for doubtful accounts 113 — 2,376 — — 2,489 Total expenses 2,886 13,229 18,457 3,519 (129 ) 37,962 Other income (expense): Other income (expense) — 502 (602 ) — — (100 ) Net loss on sales of real estate — — (3,838 ) — — (3,838 ) Total other income (expense) — 502 (4,440 ) — — (3,938 ) Income in subsidiary 20,947 33,545 2,282 — (56,774 ) — Net income 18,061 20,947 33,356 2,444 (56,774 ) 18,034 Net loss attributable to noncontrolling interests — — — 27 — 27 Net income attributable to Sabra Health Care REIT, Inc. 18,061 20,947 33,356 2,471 (56,774 ) 18,061 Preferred stock dividends (2,561 ) — — — — (2,561 ) Net income attributable to common stockholders $ 15,500 $ 20,947 $ 33,356 $ 2,471 $ (56,774 ) $ 15,500 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 65,160,290 Weighted-average number of common shares outstanding, diluted 65,398,175 CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Nine Months Ended September 30, 2016 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Combined Non-Guarantor Elimination Consolidated Revenues: Rental income $ — $ — $ 147,989 $ 20,169 $ (716 ) $ 167,442 Interest and other income 3 — 25,711 (25 ) (207 ) 25,482 Resident fees and services — — 4,169 1,642 — 5,811 Total revenues 3 — 177,869 21,786 (923 ) 198,735 Expenses: Depreciation and amortization 595 — 44,485 6,193 — 51,273 Interest — 41,238 2,372 5,529 — 49,139 Operating expenses — — 2,977 2,006 (727 ) 4,256 General and administrative 12,715 43 2,607 156 — 15,521 (Recovery of) provision for doubtful accounts and loan losses (89 ) — 3,375 — — 3,286 Impairment of real estate — — 29,811 — — 29,811 Total expenses 13,221 41,281 85,627 13,884 (727 ) 153,286 Other income (expense): Loss on extinguishment of debt — (468 ) (88 ) — — (556 ) Other income (expense) 4,732 916 (230 ) (73 ) — 5,345 Net loss on sales of real estate — — (3,203 ) — — (3,203 ) Total other income (expense) 4,732 448 (3,521 ) (73 ) — 1,586 Income in subsidiary 55,783 96,616 8,046 — (160,445 ) — Net income 47,297 55,783 96,767 7,829 (160,641 ) 47,035 Net loss attributable to noncontrolling interests — — — 66 — 66 Net income attributable to Sabra Health Care REIT, Inc. 47,297 55,783 96,767 7,895 (160,641 ) 47,101 Preferred stock dividends (7,682 ) — — — — (7,682 ) Net income attributable to common stockholders $ 39,615 $ 55,783 $ 96,767 $ 7,895 $ (160,641 ) $ 39,419 Net income attributable to common stockholders, per: Basic common share $ 0.60 Diluted common share $ 0.60 Weighted-average number of common shares outstanding, basic 65,285,591 Weighted-average number of common shares outstanding, diluted 65,470,589 CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Nine Months Ended September 30, 2015 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Combined Non-Guarantor Elimination Consolidated Revenues: Rental income $ — $ — $ 137,249 $ 15,325 $ — $ 152,574 Interest and other income 1 226 17,521 — (154 ) 17,594 Resident fees and services — — — 1,924 — 1,924 Total revenues 1 226 154,770 17,249 (154 ) 172,092 Expenses: Depreciation and amortization 41 — 40,357 4,555 — 44,953 Interest — 38,427 836 3,999 (154 ) 43,108 Operating expenses — — — 1,442 — 1,442 General and administrative 12,251 21 6,858 140 — 19,270 Provision for doubtful accounts and write-offs (488 ) — 7,093 — — 6,605 Total expenses 11,804 38,448 55,144 10,136 (154 ) 115,378 Other income (expense): Other income (expense) — 1,671 (1,971 ) — — (300 ) Net loss on sales of real estate — — (2,115 ) — — (2,115 ) Total other income (expense) — 1,671 (4,086 ) — — (2,415 ) Income in subsidiary 66,149 102,700 6,697 — (175,546 ) — Net income 54,346 66,149 102,237 7,113 (175,546 ) 54,299 Net loss attributable to noncontrolling interests — — — 47 — 47 Net income attributable to Sabra Health Care REIT, Inc. 54,346 66,149 102,237 7,160 (175,546 ) 54,346 Preferred stock dividends (7,682 ) — — — — (7,682 ) Net income attributable to common stockholders $ 46,664 $ 66,149 $ 102,237 $ 7,160 $ (175,546 ) $ 46,664 Net income attributable to common stockholders, per: Basic common share $ 0.76 Diluted common share $ 0.76 Weighted-average number of common shares outstanding, basic 61,244,991 Weighted-average number of common shares outstanding, diluted 61,468,603
Schedule of Condensed Consolidating Statement of Comprehensive Income	CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Three Months Ended September 30, 2016 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Combined Non-Guarantor Elimination Consolidated Net income $ 25,405 $ 28,073 $ 40,921 $ 2,705 $ (71,792 ) $ 25,312 Other comprehensive income (loss): Foreign currency translation — 153 (514 ) (139 ) — (500 ) Unrealized loss on cash flow hedge — 398 — — — 398 Total other comprehensive income(loss) — 551 (514 ) (139 ) — (102 ) Comprehensive income 25,405 28,624 40,407 2,566 (71,792 ) 25,210 Comprehensive loss attributable to noncontrolling interest — — — 25 — 25 Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 25,405 $ 28,624 $ 40,407 $ 2,591 $ (71,792 ) $ 25,235 CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Three Months Ended September 30, 2015 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Combined Non-Guarantor Elimination Consolidated Net income $ 18,061 $ 20,947 $ 33,356 $ 2,444 $ (56,774 ) $ 18,034 Other comprehensive income (loss): Foreign currency translation — 4,609 (2,765 ) (874 ) — 970 Unrealized loss on cash flow hedge — (1,781 ) — — — (1,781 ) Total other comprehensive income (loss) — 2,828 (2,765 ) (874 ) — (811 ) Comprehensive income 18,061 23,775 30,591 1,570 (56,774 ) 17,223 Comprehensive loss attributable to noncontrolling interest — — — 27 — 27 Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 18,061 $ 23,775 $ 30,591 $ 1,597 $ (56,774 ) $ 17,250 CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Nine Months Ended September 30, 2016 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Combined Non-Guarantor Elimination Consolidated Net income $ 47,297 $ 55,783 $ 96,767 $ 7,829 $ (160,641 ) $ 47,035 Other comprehensive (loss) income: Foreign currency translation — (2,204 ) 1,148 307 — (749 ) Unrealized loss on cash flow hedge — (1,300 ) — — — (1,300 ) Total other comprehensive (loss) income — (3,504 ) 1,148 307 — (2,049 ) Comprehensive income 47,297 52,279 97,915 8,136 (160,641 ) 44,986 Comprehensive loss attributable to noncontrolling interest — — — 66 — 66 Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 47,297 $ 52,279 $ 97,915 $ 8,202 $ (160,641 ) $ 45,052 CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Nine Months Ended September 30, 2015 (dollars in thousands, except per share amounts) (unaudited) Parent Company Issuers Combined Combined Non-Guarantor Elimination Consolidated Net income $ 54,346 $ 66,149 $ 102,237 $ 7,113 $ (175,546 ) $ 54,299 Other comprehensive (loss) income: Foreign currency translation — 4,445 (3,091 ) (979 ) — 375 Unrealized loss on cash flow hedge — (4,470 ) — — — (4,470 ) Total other comprehensive loss — (25 ) (3,091 ) (979 ) — (4,095 ) Comprehensive income 54,346 66,124 99,146 6,134 (175,546 ) 50,204 Comprehensive loss attributable to noncontrolling interest — — — 47 — 47 Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 54,346 $ 66,124 $ 99,146 $ 6,181 $ (175,546 ) $ 50,251
Schedule of Condensed Consolidating Statement of Cash Flows (unaudited)	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Nine Months Ended September 30, 2016 (in thousands) (unaudited) Parent Company Issuers Combined Combined Non-Guarantor Elimination Consolidated Net cash provided by operating activities $ 113,886 $ — $ 555 $ 19,375 $ — $ 133,816 Cash flows from investing activities: Acquisitions of real estate — — (109,619 ) — — (109,619 ) Origination and fundings of loans receivable — — (9,478 ) — — (9,478 ) Origination and fundings of preferred equity investments — — (6,845 ) — — (6,845 ) Additions to real estate (124 ) — (400 ) (377 ) — (901 ) Repayment of loans receivable — — 214,947 — — 214,947 Investment in subsidiary (200 ) (200 ) — — 400 — Net proceeds from the sale of real estate — — 85,449 — — 85,449 Distribution from subsidiary 6,404 6,404 — — (12,808 ) — Intercompany financing (17,684 ) 197,638 — — (179,954 ) — Net cash (used in) provided by investing activities (11,604 ) 203,842 174,054 (377 ) (192,362 ) 173,553 Cash flows from financing activities: Net repayments from revolving credit facility — (255,000 ) — — — (255,000 ) Proceeds from term loan — 45,000 24,360 — — 69,360 Principal payments on mortgage notes — — — (13,756 ) — (13,756 ) Payments of deferred financing costs — (5,322 ) (611 ) — — (5,933 ) Issuance of common stock (1,289 ) — — — — (1,289 ) Dividends paid on common and preferred stock (89,283 ) — — — — (89,283 ) Contribution from parent — 200 — 200 (400 ) — Distribution to parent — (6,404 ) — (6,404 ) 12,808 — Intercompany financing — 17,684 (197,638 ) — 179,954 — Net cash used in financing activities (90,572 ) (203,842 ) (173,889 ) (19,960 ) 192,362 (295,901 ) Net increase (decrease) in cash and cash equivalents 11,710 — 720 (962 ) — 11,468 Effect of foreign currency translation on cash and cash equivalents — — 759 13 — 772 Cash and cash equivalents, beginning of period 2,548 — 1,008 3,878 — 7,434 Cash and cash equivalents, end of period $ 14,258 $ — $ 2,487 $ 2,929 $ — $ 19,674 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Nine Months Ended September 30, 2015 (in thousands) (unaudited) Parent Company Issuers Combined Combined Non-Guarantor Elimination Consolidated Net cash provided by operating activities $ 74,256 $ — $ 22 $ 4,837 $ — $ 79,115 Cash flows from investing activities: Acquisitions of real estate — — (375,324 ) (11,248 ) — (386,572 ) Origination and fundings of loans receivable — — (26,207 ) — — (26,207 ) Preferred equity investments — — (9,281 ) — — (9,281 ) Additions to real estate (11 ) — (1,100 ) (485 ) — (1,596 ) DIP Financing — — (3,302 ) — — (3,302 ) Repayment of loans receivable — — 3,285 — — 3,285 Release of contingent consideration held in escrow — — 5,240 — — 5,240 Investment in subsidiaries (414 ) (414 ) — — 828 — Net proceeds from the sale of real estate — — 15,752 — — 15,752 Distribution from subsidiaries 1,355 1,355 — — (2,710 ) — Intercompany financing (165,871 ) (301,642 ) — — 467,513 — Net cash used in investing activities (164,941 ) (300,701 ) (390,937 ) (11,733 ) 465,631 (402,681 ) Cash flows from financing activities: Net repayments from revolving credit facility — 136,000 — — — 136,000 Proceeds from term loan — — 73,242 — — 73,242 Proceeds from mortgage notes — — — 28,735 — 28,735 Principal payments on mortgage notes — — — (2,184 ) — (2,184 ) Payments of deferred financing costs — (229 ) (714 ) (371 ) — (1,314 ) Issuance of common stock 139,617 — — — — 139,617 Dividends paid on common and preferred stock (80,619 ) — — — — (80,619 ) Contribution from parent — 414 — 414 (828 ) — Distribution to parent — (1,355 ) — (1,355 ) 2,710 — Intercompany financing — 165,871 318,618 (16,976 ) (467,513 ) — Net cash provided by financing activities 58,998 300,701 391,146 8,263 (465,631 ) 293,477 Net (decrease) increase in cash and cash equivalents (31,687 ) — 231 1,367 — (30,089 ) Effect of foreign currency translation on cash and cash equivalents (203 ) — (20 ) (8 ) — (231 ) Cash and cash equivalents, beginning of period 58,799 — — 2,994 — 61,793 Cash and cash equivalents, end of period $ 26,909 $ — $ 211 $ 4,353 $ — $ 31,473

PRO FORMA FINANCIAL INFORMATI34

PRO FORMA FINANCIAL INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2016
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 September 30, Nine Months Ended September 30, 2016 2015 2016 2015 (in thousands, except share and per share amounts) Revenues $ 62,858 $ 63,890 $ 204,889 $ 198,021 Depreciation and amortization 17,404 17,714 53,111 53,301 Net income attributable to common stockholders 24,512 22,392 44,842 69,930 Net income attributable to common stockholders, per: Basic common share $ 0.38 $ 0.34 $ 0.69 $ 1.14 Diluted common share $ 0.37 $ 0.34 $ 0.68 $ 1.14 Weighted-average number of common shares outstanding, basic 65,312,288 65,160,290 65,285,591 61,244,991 Weighted-average number of common shares outstanding, diluted 65,591,428 65,398,175 65,470,589 61,468,603

SUMMARY OF SIGNIFICANT ACCOUN35

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)variable_interest_entityInvestment	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Number of VIEs | variable_interest_entity	2
Number of investments in loans accounted for as real estate joint ventures | Investment	0
Deferred financing costs	$ 17,236
Accounting Standards Update 2015-03 [Member] | Prepaid expenses, deferred financing costs and other assets, net [Member]
Debt Instrument [Line Items]
Deferred financing costs		$ (17,300)

RECENT REAL ESTATE ACQUISITIO36

RECENT REAL ESTATE ACQUISITIONS - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)Facilitiy	Sep. 30, 2015USD ($)Facilitiy
Business Acquisition [Line Items]
Total revenues	$ 61,927	$ 59,934	$ 198,735	$ 172,092
Net income attributable to common stockholders	22,776	$ 15,500	39,419	$ 46,664
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Total revenues	1,700		1,700
Net income attributable to common stockholders	100		100
Acquisition pursuit costs	$ 1,100		$ 1,100
Series of Individually Immaterial Business Acquisitions [Member] | Tenant Origination and Absorption Costs [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets, weighted average amortization period as of date of acquisition			15 years
Series of Individually Immaterial Business Acquisitions [Member] | Tenant Relationship [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets, weighted average amortization period as of date of acquisition			25 years
Series of Individually Immaterial Business Acquisitions [Member] | Skilled Nursing Transitional Care Facilities [Member]
Business Acquisition [Line Items]
Number of acquired properties | Facilitiy			1	3
Series of Individually Immaterial Business Acquisitions [Member] | Senior Housing Facilities [Member]
Business Acquisition [Line Items]
Number of acquired properties | Facilitiy			3	19

RECENT REAL ESTATE ACQUISITIO37

RECENT REAL ESTATE ACQUISITIONS - Schedule of Purchase Price Allocation (Details) - Series of Individually Immaterial Business Acquisitions [Member] - USD ($) $ in Thousands	Sep. 30, 2016	Sep. 30, 2015
Business Acquisition [Line Items]
Land	$ 5,521	$ 26,855
Building and Improvements	102,094	372,031
Total Consideration	109,619	406,248
Tenant Origination and Absorption Costs [Member]
Business Acquisition [Line Items]
Tenant Costs	1,565	5,481
Tenant Relationship [Member]
Business Acquisition [Line Items]
Tenant Costs	$ 439	$ 1,881

REAL ESTATE PROPERTIES HELD F38

REAL ESTATE PROPERTIES HELD FOR INVESTMENT - Schedule of Real Estate Properties Held for Investment (Details) $ in Thousands	Sep. 30, 2016USD ($)BedFacilitiy	Dec. 31, 2015USD ($)BedFacilitiy
Real Estate Properties [Line Items]
Building and improvements	$ 1,962,520	$ 1,954,129
Furniture and equipment	85,423	97,840
Land improvements	3,888	3,594
Land	220,900	221,894
Total Real Estate at Cost	2,272,731	2,277,457
Accumulated Depreciation	(272,953)	(237,841)
Total Real Estate Investments, Net	$ 1,999,778	$ 2,039,616
Operating Segments [Member]
Real Estate Properties [Line Items]
Number of Properties | Facilitiy	182	180
Number of Beds/Units | Bed	18,632	18,349
Total Real Estate at Cost	$ 2,272,325	$ 2,277,158
Accumulated Depreciation	(272,703)	(237,589)
Total Real Estate Investments, Net	$ 1,999,622	$ 2,039,569
Operating Segments [Member] | Skilled Nursing/Transitional Care Facilities [Member]
Real Estate Properties [Line Items]
Number of Properties | Facilitiy	102	103
Number of Beds/Units | Bed	11,503	11,515
Total Real Estate at Cost	$ 1,083,054	$ 1,051,189
Accumulated Depreciation	(194,853)	(174,662)
Total Real Estate Investments, Net	$ 888,201	$ 876,527
Operating Segments [Member] | Senior Housing [Member]
Real Estate Properties [Line Items]
Number of Properties | Facilitiy	79	75
Number of Beds/Units | Bed	7,059	6,710
Total Real Estate at Cost	$ 1,127,631	$ 1,050,162
Accumulated Depreciation	(67,924)	(45,800)
Total Real Estate Investments, Net	$ 1,059,707	$ 1,004,362
Operating Segments [Member] | Acute Care Hospital [Member]
Real Estate Properties [Line Items]
Number of Properties | Facilitiy	1	2
Number of Beds/Units | Bed	70	124
Total Real Estate at Cost	$ 61,640	$ 175,807
Accumulated Depreciation	(9,926)	(17,127)
Total Real Estate Investments, Net	51,714	158,680
Corporate, Non-Segment [Member]
Real Estate Properties [Line Items]
Total Real Estate at Cost	406	299
Accumulated Depreciation	(250)	(252)
Total Real Estate Investments, Net	$ 156	$ 47

REAL ESTATE PROPERTIES HELD F39

REAL ESTATE PROPERTIES HELD FOR INVESTMENT - Narrative (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2016USD ($)FacilitiyCustomer	Sep. 30, 2016USD ($)acquisitionFacilitiyCustomer	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Real Estate Properties [Line Items]
Change in fair value of contingent consideration		$ (50)	$ (300)
Weighted average lease expiration period		9 years
Security deposit liability	$ 2,100	$ 2,100		$ 1,300
Reserve for unpaid cash rents	3,200	3,200		3,500
Allowance for straight-line rental income	$ 1,400	$ 1,400		$ 5,300
Genesis [Member]
Real Estate Properties [Line Items]
Memoranda of understanding facilities | Facilitiy		35
Number of leased facilities | Facilitiy	43	43
Sales Revenue, Net [Member] | Customer Concentration Risk [Member]
Real Estate Properties [Line Items]
Number of major customers | Customer	3	3
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Genesis [Member]
Real Estate Properties [Line Items]
Concentration risk percent		32.60%
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Holiday [Member]
Real Estate Properties [Line Items]
Concentration risk percent		16.30%
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | NMS [Member]
Real Estate Properties [Line Items]
Concentration risk percent		12.40%
Minimum [Member]
Real Estate Properties [Line Items]
Lease expiration period		1 year
Maximum [Member]
Real Estate Properties [Line Items]
Lease expiration period		16 years
Other Operating Income (Expense) [Member]
Real Estate Properties [Line Items]
Change in fair value of contingent consideration		$ 100
Acquisitions With Contingent Consideration Arrangements [Member]
Real Estate Properties [Line Items]
Number of acquired properties | acquisition		4
Estimated earn-out value	$ 3,200	$ 3,200
Contingent consideration asset	0	0
Acquisitions With Contingent Consideration Arrangements [Member] | Accounts Payable and Accrued Liabilities [Member]
Real Estate Properties [Line Items]
Contingent consideration liability	2,400	$ 2,400
Acquisitions With Contingent Consideration Arrangements [Member] | Other Operating Income (Expense) [Member]
Real Estate Properties [Line Items]
Change in fair value of contingent consideration	$ 100

REAL ESTATE PROPERTIES HELD F40

REAL ESTATE PROPERTIES HELD FOR INVESTMENT - Schedule of Future Minimum Rental Payments Receivable for Operating Leases (Details) $ in Thousands	Sep. 30, 2016USD ($)
Operating Leases, Future Minimum Payments Receivable [Abstract]
October 1, 2016 through December 31, 2016	$ 52,272
2,017	212,373
2,018	217,914
2,019	224,207
2,020	230,351
Thereafter	1,306,497
Total	$ 2,243,614

DISPOSITIONS - Narrative (Detai

DISPOSITIONS - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)Facilitiy	Sep. 30, 2015USD ($)Facilitiy
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of real estate	$ 0	$ 0	$ 29,811	$ 0
Net (loss) income from facilities			(800)	$ (3,100)
Discontinued Operations, Disposed of by Sale [Member] | Skilled Nursing Facilities and Acute Care Hospitals [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration	85,400		85,400
Selling expenses			2,300
Carrying value of the assets and liabilities	$ 88,600		88,600
Gain (loss) from sale			$ (3,200)
Discontinued Operations, Disposed of by Sale [Member] | Skilled Nursing Facilities [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed of | Facilitiy			2	3
Consideration		16,300		$ 16,300
Carrying value of the assets and liabilities		$ 18,400		18,400
Gain (loss) from sale				$ (2,100)
Discontinued Operations, Disposed of by Sale [Member] | Acute Care Hospital [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed of | Facilitiy			1
Impairment of real estate			$ 29,800
Discontinued Operations, Disposed of by Sale [Member] | Senior Housing Facilities [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties disposed of | Facilitiy				1

LOANS RECEIVABLE AND OTHER IN42

LOANS RECEIVABLE AND OTHER INVESTMENTS - Schedule of Loans Receivable and Other Investments (Details) $ in Thousands	Sep. 30, 2016USD ($)loan	Dec. 31, 2015USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, Quantity | loan	11
Loans Receivable, Principal Balance	$ 54,471
Loans Receivable, Book Value	$ 54,613	$ 274,484
Loans Receivable, Weighted Average Contractual Interest Rate / Rate of Return	9.30%
Loans Receivable, Weighted Average Annualized Effective Interest Rate / Rate of Return	9.10%
Loan loss allowance	$ (3,120)	(4,300)
Loans Receivable, Net Amount	$ 51,493	270,184
Preferred Equity Investment, Quantity | loan	11
Preferred Equity Investment, Principal Balance	$ 42,594	29,643
Preferred Equity Investment, Book Value	$ 42,973	29,993
Preferred Equity Investment, Weighted Average Contractual Interest Rate / Rate of Return	12.90%
Preferred Equity Investment, Weighted Average Annualized Effective Interest Rate / Rate of Return	12.90%
Total Investments, Quantity | loan	22
Total Investments, Principal Balance	$ 97,065
Total Investments, Book Value	$ 94,466	300,177
Total Investments, Weighted Average Contractual Interest Rate / Rate of Return	10.90%
Total Investments, Weighted Average Annualized Effective Interest Rate / Rate of Return	10.80%
Mortgage [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, Quantity | loan	5
Loans Receivable, Principal Balance	$ 38,492
Loans Receivable, Book Value	$ 38,534	166,277
Loans Receivable, Weighted Average Contractual Interest Rate / Rate of Return	9.10%
Loans Receivable, Weighted Average Annualized Effective Interest Rate / Rate of Return	8.90%
Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, Quantity | loan	1
Loans Receivable, Principal Balance	$ 590
Loans Receivable, Book Value	$ 637	75,201
Loans Receivable, Weighted Average Contractual Interest Rate / Rate of Return	8.00%
Loans Receivable, Weighted Average Annualized Effective Interest Rate / Rate of Return	7.70%
Mezzanine [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, Quantity | loan	1
Loans Receivable, Principal Balance	$ 9,640
Loans Receivable, Book Value	$ 9,660	15,613
Loans Receivable, Weighted Average Contractual Interest Rate / Rate of Return	11.00%
Loans Receivable, Weighted Average Annualized Effective Interest Rate / Rate of Return	10.80%
Pre-development [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, Quantity | loan	3
Loans Receivable, Principal Balance	$ 3,926
Loans Receivable, Book Value	$ 3,959	3,768
Loans Receivable, Weighted Average Contractual Interest Rate / Rate of Return	9.00%
Loans Receivable, Weighted Average Annualized Effective Interest Rate / Rate of Return	7.60%
Debtor-in-possession [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Receivable, Quantity | loan	1
Loans Receivable, Principal Balance	$ 1,823
Loans Receivable, Book Value	$ 1,823	$ 13,625
Loans Receivable, Weighted Average Contractual Interest Rate / Rate of Return	5.00%
Loans Receivable, Weighted Average Annualized Effective Interest Rate / Rate of Return	5.00%

LOANS RECEIVABLE AND OTHER IN43

LOANS RECEIVABLE AND OTHER INVESTMENTS - Narrative (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2016USD ($)loan	Sep. 30, 2016USD ($)loan	Dec. 31, 2015USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds from collection of loans receivable and interest received		$ 196,100
Proceeds from collection of loans receivable		170,800
Proceeds from interest received		25,300
Loan loss reserve	$ 3,120	$ 3,120	$ 4,300
Loan Receivable Investment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loan receivable investments, nonaccrual status | loan	3	3
Loans receivable, nonaccrual status	$ 18,400	$ 18,400	$ 30,000
Loan loss reserve in period	200	3,500
Loan loss reserve	2,700	2,700
Portfolio-Based Loan Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan loss reserve in period	50	(1,400)
Loan loss reserve	$ 400	$ 400

DEBT - Schedule of Long Term De

DEBT - Schedule of Long Term Debt - Mortgage Notes (Details) - Mortgages [Member] - Fixed Rate Mortgages [Member] - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Principal Balance	$ 165,045	$ 177,850
Weighted Average Effective Interest Rate	3.86%

DEBT - Schedule of Long Term 45

DEBT - Schedule of Long Term Debt - Mortgage Notes (Footnote) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Deferred financing costs	$ 17,236
Mortgages [Member]
Debt Instrument [Line Items]
Deferred financing costs	2,915
Mortgages [Member] | Fixed Rate Mortgages [Member]
Debt Instrument [Line Items]
Deferred financing costs	$ 2,900	$ 3,000

DEBT - Narrative (Details)

DEBT - Narrative (Details)

Jan. 14, 2016USD ($)extension_optioninvestment_grading_company

Jun. 10, 2015USD ($)

Oct. 10, 2014USD ($)

Sep. 10, 2014USD ($)

Aug. 31, 2016USD ($)

Sep. 30, 2016USD ($)

Sep. 30, 2015USD ($)

Sep. 30, 2016USD ($)

Sep. 30, 2015USD ($)

Dec. 31, 2015USD ($)

Aug. 10, 2016USD ($)agreement

Aug. 10, 2016CADagreement

Jan. 14, 2016CADextension_optioninvestment_grading_company

Jun. 10, 2015CAD

Debt Instrument [Line Items]

Principal payments on mortgage notes

$ 13,756,000

$ 2,184,000

Revolving credit facility

$ 0

0

$ 255,000,000

Interest expense

15,794,000

$ 15,176,000

49,139,000

43,108,000

Number of investment grading companies | investment_grading_company

2

2

Deferred financing costs amortization included in interest expense

1,300,000

$ 1,300,000

3,767,000

$ 3,829,000

Accrued interest

$ 9,600,000

$ 9,600,000

$ 13,300,000

5.5% Senior Unsecured Notes due 2021 [Member]

Debt Instrument [Line Items]

Interest rate

5.50%

5.50%

5.375% Senior Unsecured Notes Due 2023 [Member]

Debt Instrument [Line Items]

Interest rate

5.375%

5.375%

Prior 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

Prior Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Minimum [Member]

Debt Instrument [Line Items]

Annum percent unused borrowing fee

0.25%

Prior Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Maximum [Member]

Debt Instrument [Line Items]

Annum percent unused borrowing fee

0.35%

Prior 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%

1.00%

Prior Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]

Debt Instrument [Line Items]

Basis spread on variable rate

2.00%

Prior Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]

Debt Instrument [Line Items]

Basis spread on variable rate

2.60%

Prior Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Federal Funds Rate [Member]

Debt Instrument [Line Items]

Basis spread on variable rate

0.50%

Prior Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Base Rate [Member] | Minimum [Member]

Debt Instrument [Line Items]

Basis spread on variable rate

1.00%

Prior Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Base Rate [Member] | Maximum [Member]

Debt Instrument [Line Items]

Basis spread on variable rate

1.60%

Prior Canadian Term Loan [Member]

Debt Instrument [Line Items]

Debt amount | CAD

CAD 90,000,000

Interest rate swap, fixed

1.59%

1.59%

Prior Canadian Term Loan [Member] | Sabra Canadian Holdings, LLC [Member]

Debt Instrument [Line Items]

Debt amount

$ 73,200,000

CAD 90,000,000

Prior 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%

Prior 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%

Current Revolving Credit Facility [Member] | Revolving Credit Facility [Member]

Debt Instrument [Line Items]

Borrowing capacity

$ 500,000,000

Borrowing capacity in certain foreign currencies (up to)

$ 125,000,000

Number of optional extensions | extension_option

2

2

Optional extension period

6 months

Current Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Minimum [Member]

Debt Instrument [Line Items]

Annum percent unused borrowing fee

0.25%

Facility fee, contingent event

0.125%

Current Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Maximum [Member]

Debt Instrument [Line Items]

Annum percent unused borrowing fee

0.30%

Facility fee, contingent event

0.30%

Current Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]

Debt Instrument [Line Items]

Basis spread on variable rate

1.00%

Current Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]

Debt Instrument [Line Items]

Basis spread on variable rate

1.80%

Basis spread on variable rate, contingent event

0.90%

Current Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]

Debt Instrument [Line Items]

Basis spread on variable rate

2.40%

Basis spread on variable rate, contingent event

1.70%

Current Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Federal Funds Rate [Member]

Debt Instrument [Line Items]

Basis spread on variable rate

0.50%

Current Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Base Rate [Member] | Minimum [Member]

Debt Instrument [Line Items]

Basis spread on variable rate

0.80%

Basis spread on variable rate, contingent event

0.00%

Current Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Base Rate [Member] | Maximum [Member]

Debt Instrument [Line Items]

Basis spread on variable rate

1.40%

Basis spread on variable rate, contingent event

0.70%

Current Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) Or Canadian Dollar Offer Rate (CDOR) [Member] | Minimum [Member]

Debt Instrument [Line Items]

Basis spread on variable rate, contingent event

1.00%

Current Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) Or Canadian Dollar Offer Rate (CDOR) [Member] | Maximum [Member]

Debt Instrument [Line Items]

Basis spread on variable rate, contingent event

1.95%

U.S. Dollar Term Loan [Member]

Debt Instrument [Line Items]

Debt amount

$ 245,000,000

$ 245,000,000

U.S. Dollar Term Loan [Member] | Interest Rate Swap [Member]

Debt Instrument [Line Items]

Interest rate swap, fixed

0.90%

0.90%

Derivative, Number of Instruments Held | agreement

2

2

U.S. Dollar Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]

Debt Instrument [Line Items]

Basis spread on variable rate

1.75%

U.S. Dollar Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]

Debt Instrument [Line Items]

Basis spread on variable rate

2.35%

U.S. Dollar Term Loan [Member] | Base Rate [Member] | Minimum [Member]

Debt Instrument [Line Items]

Basis spread on variable rate

0.75%

U.S. Dollar Term Loan [Member] | Base Rate [Member] | Maximum [Member]

Debt Instrument [Line Items]

Basis spread on variable rate

1.35%

U.S. Dollar Term Loan [Member] | Canadian Dollar Offer Rate (CDOR) [Member] | Minimum [Member]

Debt Instrument [Line Items]

Basis spread on variable rate

1.75%

U.S. Dollar Term Loan [Member] | Canadian Dollar Offer Rate (CDOR) [Member] | Maximum [Member]

Debt Instrument [Line Items]

Basis spread on variable rate

2.35%

U.S. Dollar Term Loan [Member] | Revolving Credit Facility [Member] | Base Rate [Member] | Minimum [Member]

Debt Instrument [Line Items]

Basis spread on variable rate, contingent event

0.00%

U.S. Dollar Term Loan [Member] | Revolving Credit Facility [Member] | Base Rate [Member] | Maximum [Member]

Debt Instrument [Line Items]

Basis spread on variable rate, contingent event

0.95%

Canadian Term Loan [Member]

Debt Instrument [Line Items]

Debt amount | CAD

CAD 35,000,000

CAD 125,000,000

Canadian Term Loan [Member] | Interest Rate Swap [Member]

Debt Instrument [Line Items]

Interest rate swap, fixed

0.93%

0.93%

Derivative, Number of Instruments Held | agreement

1

1

Credit Facility [Member] | Revolving Credit Facility [Member]

Debt Instrument [Line Items]

Accordion feature, additional capacity

$ 1,250,000,000

Revolving Credit Facility [Member] | Revolving Credit Facility [Member]

Debt Instrument [Line Items]

Revolving credit facility

$ 0

$ 0

Available borrowing capacity

$ 500,000,000

$ 500,000,000

Interest rate

2.53%

2.53%

Interest expense

$ 23,000

$ 2,300,000

Unused facility fees

$ 400,000

$ 900,000

Mortgages [Member]

Debt Instrument [Line Items]

Principal payments on mortgage notes

$ 10,700,000

Interest rate

5.60%

DEBT - Schedule of Long Term 47

DEBT - Schedule of Long Term Debt - Senior Unsecured Notes (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
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 48

DEBT - Schedule of Long Term Debt - Senior Unsecured Notes (Footnote) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Debt discount not included in outstanding principal balance	$ 543
Deferred financing costs	17,236
Senior Notes [Member]
Debt Instrument [Line Items]
Debt discount not included in outstanding principal balance	543	$ 600
Deferred financing costs	$ 11,850	$ 13,700

DEBT - Schedule of Maturities o

DEBT - Schedule of Maturities of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
October 1, 2016 through December 31, 2016	$ 1,013
2,017	4,139
2,018	4,277
2,019	4,420
2,020	4,568
Thereafter	1,186,740
Total Principal Balance	1,205,157
Discount	(543)
Deferred financing costs	(17,236)
Total Debt, net	1,187,378
Mortgage Indebtedness [Member]
Debt Instrument [Line Items]
October 1, 2016 through December 31, 2016	1,013
2,017	4,139
2,018	4,277
2,019	4,420
2,020	4,568
Thereafter	146,628
Total Principal Balance	165,045
Discount	0
Deferred financing costs	(2,915)
Total Debt, net	162,130
Term Loans [Member]
Debt Instrument [Line Items]
October 1, 2016 through December 31, 2016	0
2,017	0
2,018	0
2,019	0
2,020	0
Thereafter	340,112
Total Principal Balance	340,112
Discount	0
Deferred financing costs	(2,471)
Total Debt, net	337,641
Senior Notes [Member]
Debt Instrument [Line Items]
October 1, 2016 through December 31, 2016	0
2,017	0
2,018	0
2,019	0
2,020	0
Thereafter	700,000
Total Principal Balance	700,000
Discount	(543)	$ (600)
Deferred financing costs	(11,850)	$ (13,700)
Total Debt, net	$ 687,607

DERIVATIVE AND HEDGING INSTRU50

DERIVATIVE AND HEDGING INSTRUMENTS - Narrative (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2016USD ($)
Derivative [Line Items]
Fair value of derivatives in a net liability position	$ 0.4	$ 0.4
Termination value of derivatives in a net liability position	0.4	0.4
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Interest Rate Cap [Member]
Derivative [Line Items]
Losses included in accumulated other comprehensive loss which are expected to be reclassified into earnings in the next 12 months		3.6
Proceeds from termination of derivative		0.3
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Gain (loss) recognized in income from ineffective portion of hedge	$ 0.4	$ 0.4

DERIVATIVE AND HEDGING INSTRU51

DERIVATIVE AND HEDGING INSTRUMENTS - Summary of Derivative Notional Amounts (Details) - Cross Currency Interest Rate Swaps [Member] - Designated as Hedging Instrument [Member] CAD in Thousands, $ in Thousands	Sep. 30, 2016USD ($)	Sep. 30, 2016CAD	Dec. 31, 2015USD ($)	Dec. 31, 2015CAD
Cash Flow Hedging [Member]
Derivative [Line Items]
Notional amount	$ 245,000	CAD 125,000	$ 200,000	CAD 90,000
Net Investment Hedging [Member]
Derivative [Line Items]
Notional amount		56,300		56,300
Derivative liability, notional amount		CAD 125,000		CAD 90,000

DERIVATIVE AND HEDGING INSTRU52

DERIVATIVE AND HEDGING INSTRUMENTS - Summary of Derivative and Financial Instruments Designated as Hedging Instruments (Details) $ in Thousands	Sep. 30, 2016USD ($)instrument	Dec. 31, 2015USD ($)
Derivatives, Fair Value [Line Items]
Derivative Asset	$ 3,625	$ 7,087
Derivative Liability	1,724	1,468
Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset	3,625	7,087
Derivative Liability	$ 96,836	66,358
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	0
Derivative Asset	$ 0	1,695
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member] | Prepaid expenses, deferred financing costs and other assets, net [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Count | instrument	2
Derivative Asset	$ 452	0
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, Count | instrument	2
Derivative Liability	$ 1,724	1,468
Designated as Hedging Instrument [Member] | Cross Currency Interest Rate Swaps [Member] | Net Investment Hedging [Member] | Prepaid expenses, deferred financing costs and other assets, net [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Count | instrument	2
Derivative Asset	$ 3,173	5,392
Designated as Hedging Instrument [Member] | CAD Term Loan [Member] | Net Investment Hedging [Member] | Term loans, net [Member]
Derivatives, Fair Value [Line Items]
Derivative Liability, Count | instrument	1
Derivative Liability	$ 95,112	$ 64,890

DERIVATIVE AND HEDGING INSTRU53

DERIVATIVE AND HEDGING INSTRUMENTS - Schedule of Derivative Financial Instruments on the Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Equity (Details) - Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion)	$ 1,425	$ (3,124)	$ (10,000)	$ (6,319)
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion)	(413)	(136)	(802)	(161)
Interest Rate Products [Member] | Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion)	(40)	(1,991)	(2,019)	(4,626)
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion)	(413)	(136)	(802)	(161)
Foreign Currency Products [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion)	102	4,600	(2,118)	4,436
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion)	0	0	0	0
CAD Term Loan [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion)	1,363	(5,733)	(5,863)	(6,129)
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion)	$ 0	$ 0	$ 0	$ 0

DERIVATIVE AND HEDGING INSTRU54

DERIVATIVE AND HEDGING INSTRUMENTS - Schedule of the Gross Presentation, Effects of Offsetting, and a Net Presentation of Derivatives (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Offsetting Assets, Gross Amounts of Recognized Assets / Liabilities	$ 3,625	$ 7,087
Offsetting Assets, Gross Amounts Offset in the Balance Sheet	0	0
Offsetting Assets, Net Amounts of Assets / Liabilities presented in the Balance Sheet	3,625	7,087
Offsetting Assets, Gross Amounts Not Offset in the Balance Sheet, Financial Instruments	(1,607)	(1,468)
Offsetting Assets, Gross Amounts Not Offset in the Balance Sheet, Cash Collateral Received	0	0
Offsetting Assets, Net Amount	2,018	5,619
Offsetting Liabilities, Gross Amounts of Recognized Assets / Liabilities	1,724	1,468
Offsetting Liabilities, Gross Amounts Offset in the Balance Sheet	0	0
Offsetting Liabilities, Net Amounts of Assets / Liabilities presented in the Balance Sheet	1,724	1,468
Offsetting Liabilities, Gross Amounts Not Offset in the Balance Sheet, Financial Instruments	(1,607)	(1,468)
Offsetting Liabilities, Gross Amounts Not Offset in the Balance Sheet, Cash Collateral Received	0	0
Offsetting Liabilities, Net Amount	$ 117	$ 0

FAIR VALUE DISCLOSURES - Summar

FAIR VALUE DISCLOSURES - Summary of Face Values, Carrying Amounts and Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable, Face Value	$ 54,471	$ 273,811
Preferred equity investment, Face Value	42,594	29,643
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	165,045	177,850
Carrying Amount [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	54,613	270,184
Preferred equity investments	42,973	29,993
Carrying Amount [Member] | Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	687,607	685,704
Carrying Amount [Member] | Mortgage indebtedness [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	162,130	174,846
Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	55,485	274,628
Preferred equity investments	45,538	30,838
Fair Value [Member] | Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	726,000	718,500
Fair Value [Member] | Mortgage indebtedness [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	$ 161,922	$ 165,296

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	Sep. 30, 2016	Dec. 31, 2015
Total [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	$ 55,485	$ 274,628
Preferred equity investments	45,538	30,838
Total [Member] | Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	726,000	718,500
Total [Member] | Mortgage indebtedness [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	161,922	$ 165,296
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	726,000
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	55,485
Preferred equity investments	45,538
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	161,922
Recurring [Member] | Total [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	55,485
Preferred equity investments	45,538
Recurring [Member] | Total [Member] | Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	726,000
Recurring [Member] | Total [Member] | Mortgage indebtedness [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	$ 161,922

FAIR VALUE DISCLOSURES - Sche57

FAIR VALUE DISCLOSURES - Schedule of Amounts Measured at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Asset	$ 3,625	$ 7,087
Financial liability	1,724	$ 1,468
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 1 [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Asset	0
Financial liability	0
Recurring [Member] | Level 1 [Member] | Cross Currency Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Asset	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 2 [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Asset	452
Financial liability	1,724
Recurring [Member] | Level 2 [Member] | Cross Currency Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Asset	3,173
Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability	2,400
Recurring [Member] | Level 3 [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Asset	0
Financial liability	0
Recurring [Member] | Level 3 [Member] | Cross Currency Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Asset	0
Recurring [Member] | Total [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability	2,400
Recurring [Member] | Total [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Asset	452
Financial liability	1,724
Recurring [Member] | Total [Member] | Cross Currency Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Asset	$ 3,173

FAIR VALUE DISCLOSURES - Sche58

FAIR VALUE DISCLOSURES - Schedule of Reconciliation for Contingent Consideration Liability/Asset Recorded at Fair Value using Level 3 Inputs (Details) - Recurring [Member] - Level 3 [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Business Combination, Contingent Consideration, Liability [Abstract]
Beginning Balance	$ 2,700
Decrease in contingent consideration liability	(300)
Ending Balance	2,400
Business Combination, Contingent Consideration, Asset [Abstract]
Beginning Balance	350
Decrease in contingent consideration asset	(350)
Ending Balance	$ 0

FAIR VALUE DISCLOSURES - Narrat

FAIR VALUE DISCLOSURES - Narrative (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)acquisition	Dec. 31, 2015USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of Businesses Acquired | acquisition	4
Recurring [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent consideration liability	$ 2,400	$ 2,700
Contingent consideration asset	$ 0	$ 350

EQUITY - Narrative (Details)

EQUITY - Narrative (Details) - USD ($)	Mar. 21, 2013	Sep. 30, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred stock, shares issued (in shares)	5,800,000	5,750,000	5,750,000
Preferred stock, dividend rate, percentage	7.125%
Price per share (in dollars per share)	$ 25
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
Tax withholding obligations on behalf of employees		1,100,000
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued as a result of restricted stock unit vestings (in shares)		100,000

EQUITY - Schedule of Cash Divid

EQUITY - Schedule of Cash Dividends on Common Stock Declared and Paid (Details) - $ / shares	Aug. 01, 2016	May 02, 2016	Feb. 03, 2016	Sep. 30, 2016	Sep. 30, 2015
Equity [Abstract]
Common dividends (in dollars per share)	$ 0.42	$ 0.42	$ 0.41	$ 1.25	$ 1.19

EQUITY - Summary of Accumulated

EQUITY - Summary of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ (9,382)	$ (7,333)
Foreign currency translation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(2,183)	(1,433)
Unrealized losses on cash flow hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(7,199)	(5,900)
Total accumulated other comprehensive loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ (9,382)	$ (7,333)

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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Numerator
Net income attributable to common stockholders	$ 22,776	$ 15,500	$ 39,419	$ 46,664
Denominator
Basic weighted average common shares and common equivalents (in shares)	65,312,288	65,160,290	65,285,591	61,244,991
Dilutive restricted stock units (in shares)	279,140	237,885	184,998	223,612
Diluted weighted average common shares (in shares)	65,591,428	65,398,175	65,470,589	61,468,603
Net income attributable to common stockholders, per:
Basic common share (in dollars per share)	$ 0.35	$ 0.24	$ 0.60	$ 0.76
Diluted common share (in dollars per share)	$ 0.35	$ 0.24	$ 0.60	$ 0.76

EARNINGS PER COMMON SHARE - Nar

EARNINGS PER COMMON SHARE - Narrative (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive stock	1,200	100	15,600	6,000

SUMMARIZED CONDENSED CONSOLID65

SUMMARIZED CONDENSED CONSOLIDATING INFORMATION - Condensed Consolidating Balance Sheet (unaudited) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Assets
Real estate investments, net of accumulated depreciation	$ 1,999,778	$ 2,039,616
Loans receivable and other investments, net	94,466	300,177
Cash and cash equivalents	19,674	7,434	$ 31,473	$ 61,793
Restricted cash	9,150	9,813
Prepaid expenses, deferred financing costs and other assets, net	116,353	111,797
Intercompany	0	0
Investment in subsidiaries	0	0
Total assets	2,239,421	2,468,837
Liabilities
Mortgage notes, net	162,130	174,846
Revolving credit facility	0	255,000
Term loans, net	337,641	264,229
Senior unsecured notes, net	687,607	685,704
Accounts payable and accrued liabilities	38,156	35,182
Intercompany	0	0
Total liabilities	1,225,534	1,414,961
Total Sabra Health Care REIT, Inc. stockholders' equity	1,013,847	1,053,770
Noncontrolling interests	40	106
Total equity	1,013,887	1,053,876	1,059,244	941,823
Total liabilities and equity	2,239,421	2,468,837
Elimination [Member]
Assets
Real estate investments, net of accumulated depreciation	0	0
Loans receivable and other investments, net	(2,301)	(2,105)
Cash and cash equivalents	0	0	0	0
Restricted cash	0	0
Prepaid expenses, deferred financing costs and other assets, net	(3,117)	(2,746)
Intercompany	(1,076,658)	(1,407,972)
Investment in subsidiaries	(1,541,826)	(1,416,345)
Total assets	(2,623,902)	(2,829,168)
Liabilities
Mortgage notes, net	0	0
Revolving credit facility		0
Term loans, net	0	0
Senior unsecured notes, net	0	0
Accounts payable and accrued liabilities	(2,117)	(1,746)
Intercompany	(1,076,658)	(1,407,972)
Total liabilities	(1,078,775)	(1,409,718)
Total Sabra Health Care REIT, Inc. stockholders' equity	(1,545,127)	(1,419,450)
Noncontrolling interests	0	0
Total equity	(1,545,127)	(1,419,450)
Total liabilities and equity	(2,623,902)	(2,829,168)
Parent Company [Member]
Assets
Real estate investments, net of accumulated depreciation	156	48
Loans receivable and other investments, net	(400)	0
Cash and cash equivalents	14,258	2,548	26,909	58,799
Restricted cash	0	0
Prepaid expenses, deferred financing costs and other assets, net	403	2,047
Intercompany	407,320	489,763
Investment in subsidiaries	607,204	568,841
Total assets	1,028,941	1,063,247
Liabilities
Mortgage notes, net	0	0
Revolving credit facility		0
Term loans, net	0	0
Senior unsecured notes, net	0	0
Accounts payable and accrued liabilities	15,094	9,477
Intercompany	0	0
Total liabilities	15,094	9,477
Total Sabra Health Care REIT, Inc. stockholders' equity	1,013,847	1,053,770
Noncontrolling interests	0	0
Total equity	1,013,847	1,053,770
Total liabilities and equity	1,028,941	1,063,247
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	12,372	13,384
Intercompany	669,338	918,209
Investment in subsidiaries	867,360	792,065
Total assets	1,549,070	1,723,658
Liabilities
Mortgage notes, net	0	0
Revolving credit facility		255,000
Term loans, net	243,540	200,000
Senior unsecured notes, net	687,607	685,704
Accounts payable and accrued liabilities	10,719	14,113
Intercompany	0	0
Total liabilities	941,866	1,154,817
Total Sabra Health Care REIT, Inc. stockholders' equity	607,204	568,841
Noncontrolling interests	0	0
Total equity	607,204	568,841
Total liabilities and equity	1,549,070	1,723,658
Combined Guarantor Subsidiaries [Member]
Assets
Real estate investments, net of accumulated depreciation	1,781,095	1,816,813
Loans receivable and other investments, net	97,167	302,282
Cash and cash equivalents	2,487	1,008	211	0
Restricted cash	152	1,618
Prepaid expenses, deferred financing costs and other assets, net	95,296	89,590
Intercompany	0	0
Investment in subsidiaries	67,262	55,439
Total assets	2,043,459	2,266,750
Liabilities
Mortgage notes, net	0	0
Revolving credit facility		0
Term loans, net	94,101	64,229
Senior unsecured notes, net	0	0
Accounts payable and accrued liabilities	12,945	11,254
Intercompany	1,032,675	1,391,115
Total liabilities	1,139,721	1,466,598
Total Sabra Health Care REIT, Inc. stockholders' equity	903,738	800,152
Noncontrolling interests	0	0
Total equity	903,738	800,152
Total liabilities and equity	2,043,459	2,266,750
Combined Non-Guarantor Subsidiaries [Member]
Assets
Real estate investments, net of accumulated depreciation	218,527	222,755
Loans receivable and other investments, net	0	0
Cash and cash equivalents	2,929	3,878	$ 4,353	$ 2,994
Restricted cash	8,998	8,195
Prepaid expenses, deferred financing costs and other assets, net	11,399	9,522
Intercompany	0	0
Investment in subsidiaries	0	0
Total assets	241,853	244,350
Liabilities
Mortgage notes, net	162,130	174,846
Revolving credit facility		0
Term loans, net	0	0
Senior unsecured notes, net	0	0
Accounts payable and accrued liabilities	1,515	2,084
Intercompany	43,983	16,857
Total liabilities	207,628	193,787
Total Sabra Health Care REIT, Inc. stockholders' equity	34,185	50,457
Noncontrolling interests	40	106
Total equity	34,225	50,563
Total liabilities and equity	$ 241,853	$ 244,350

SUMMARIZED CONDENSED CONSOLID66

SUMMARIZED CONDENSED CONSOLIDATING INFORMATION - Condensed Consolidating Statement of Income (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues:
Rental income	$ 56,833	$ 53,173	$ 167,442	$ 152,574
Interest and other income	3,157	6,211	25,482	17,594
Resident fees and services	1,937	550	5,811	1,924
Total revenues	61,927	59,934	198,735	172,092
Expenses:
Depreciation and amortization	17,102	16,306	51,273	44,953
Interest	15,794	15,176	49,139	43,108
Operating expenses	1,404	444	4,256	1,442
General and administrative	6,171	3,547	15,521	19,270
(Recovery of) provision for doubtful accounts and loan losses	540	2,489	3,286	6,605
Impairment of real estate	0	0	29,811	0
Total expenses	41,011	37,962	153,286	115,378
Other income (expense):
Loss on extinguishment of debt	0	0	(556)	0
Other income (expense)	2,945	(100)	5,345	(300)
Net loss on sales of real estate	1,451	(3,838)	(3,203)	(2,115)
Total other income (expense)	4,396	(3,938)	1,586	(2,415)
Income in subsidiary	0	0	0	0
Net income	25,312	18,034	47,035	54,299
Net loss attributable to noncontrolling interests	25	27	66	47
Net income attributable to Sabra Health Care REIT, Inc.	25,337	18,061	47,101	54,346
Preferred stock dividends	(2,561)	(2,561)	(7,682)	(7,682)
Net income attributable to common stockholders	$ 22,776	$ 15,500	$ 39,419	$ 46,664
Net income attributable to common stockholders, per:
Basic common share (in dollars per share)	$ 0.35	$ 0.24	$ 0.60	$ 0.76
Diluted common share (in dollars per share)	$ 0.35	$ 0.24	$ 0.60	$ 0.76
Weighted-average number of common shares outstanding, basic (in shares)	65,312,288	65,160,290	65,285,591	61,244,991
Weighted-average number of common shares outstanding, diluted (in shares)	65,591,428	65,398,175	65,470,589	61,468,603
Elimination [Member]
Revenues:
Rental income	$ (239)	$ 0	$ (716)	$ 0
Interest and other income	(68)	(129)	(207)	(154)
Resident fees and services	0	0	0	0
Total revenues	(307)	(129)	(923)	(154)
Expenses:
Depreciation and amortization	0	0	0	0
Interest	0	(129)	0	(154)
Operating expenses	(239)	0	(727)	0
General and administrative	0	0	0	0
(Recovery of) provision for doubtful accounts and loan losses	0	0	0	0
Impairment of real estate			0
Total expenses	(239)	(129)	(727)	(154)
Other income (expense):
Loss on extinguishment of debt			0
Other income (expense)	0	0	0	0
Net loss on sales of real estate	0	0	0	0
Total other income (expense)	0	0	0	0
Income in subsidiary	(71,724)	(56,774)	(160,445)	(175,546)
Net income	(71,792)	(56,774)	(160,641)	(175,546)
Net loss attributable to noncontrolling interests	0	0	0	0
Net income attributable to Sabra Health Care REIT, Inc.	(71,792)	(56,774)	(160,641)	(175,546)
Preferred stock dividends	0	0	0	0
Net income attributable to common stockholders	(71,792)	(56,774)	(160,641)	(175,546)
Parent Company [Member]
Revenues:
Rental income	0	0	0	0
Interest and other income	1	0	3	1
Resident fees and services	0	0	0	0
Total revenues	1	0	3	1
Expenses:
Depreciation and amortization	211	14	595	41
Interest	0	0	0	0
Operating expenses	0	0	0	0
General and administrative	4,528	2,759	12,715	12,251
(Recovery of) provision for doubtful accounts and loan losses	566	113	(89)	(488)
Impairment of real estate			0
Total expenses	5,305	2,886	13,221	11,804
Other income (expense):
Loss on extinguishment of debt			0
Other income (expense)	2,636	0	4,732	0
Net loss on sales of real estate	0	0	0	0
Total other income (expense)	2,636	0	4,732	0
Income in subsidiary	28,073	20,947	55,783	66,149
Net income	25,405	18,061	47,297	54,346
Net loss attributable to noncontrolling interests	0	0	0	0
Net income attributable to Sabra Health Care REIT, Inc.	25,405	18,061	47,297	54,346
Preferred stock dividends	(2,561)	(2,561)	(7,682)	(7,682)
Net income attributable to common stockholders	22,844	15,500	39,615	46,664
Issuers [Member]
Revenues:
Rental income	0	0	0	0
Interest and other income	0	129	0	226
Resident fees and services	0	0	0	0
Total revenues	0	129	0	226
Expenses:
Depreciation and amortization	0	0	0	0
Interest	13,215	13,211	41,238	38,427
Operating expenses	0	0	0	0
General and administrative	21	18	43	21
(Recovery of) provision for doubtful accounts and loan losses	0	0	0	0
Impairment of real estate			0
Total expenses	13,236	13,229	41,281	38,448
Other income (expense):
Loss on extinguishment of debt			(468)
Other income (expense)	400	502	916	1,671
Net loss on sales of real estate	0	0	0	0
Total other income (expense)	400	502	448	1,671
Income in subsidiary	40,909	33,545	96,616	102,700
Net income	28,073	20,947	55,783	66,149
Net loss attributable to noncontrolling interests	0	0	0	0
Net income attributable to Sabra Health Care REIT, Inc.	28,073	20,947	55,783	66,149
Preferred stock dividends	0	0	0	0
Net income attributable to common stockholders	28,073	20,947	55,783	66,149
Combined Guarantor Subsidiaries [Member]
Revenues:
Rental income	50,346	47,760	147,989	137,249
Interest and other income	3,224	6,211	25,711	17,521
Resident fees and services	1,411	0	4,169	0
Total revenues	54,981	53,971	177,869	154,770
Expenses:
Depreciation and amortization	14,838	14,674	44,485	40,357
Interest	778	676	2,372	836
Operating expenses	993	0	2,977	0
General and administrative	1,579	731	2,607	6,858
(Recovery of) provision for doubtful accounts and loan losses	(26)	2,376	3,375	7,093
Impairment of real estate			29,811
Total expenses	18,162	18,457	85,627	55,144
Other income (expense):
Loss on extinguishment of debt			(88)
Other income (expense)	(91)	(602)	(230)	(1,971)
Net loss on sales of real estate	1,451	(3,838)	(3,203)	(2,115)
Total other income (expense)	1,360	(4,440)	(3,521)	(4,086)
Income in subsidiary	2,742	2,282	8,046	6,697
Net income	40,921	33,356	96,767	102,237
Net loss attributable to noncontrolling interests	0	0	0	0
Net income attributable to Sabra Health Care REIT, Inc.	40,921	33,356	96,767	102,237
Preferred stock dividends	0	0	0	0
Net income attributable to common stockholders	40,921	33,356	96,767	102,237
Combined Non-Guarantor Subsidiaries [Member]
Revenues:
Rental income	6,726	5,413	20,169	15,325
Interest and other income	0	0	(25)	0
Resident fees and services	526	550	1,642	1,924
Total revenues	7,252	5,963	21,786	17,249
Expenses:
Depreciation and amortization	2,053	1,618	6,193	4,555
Interest	1,801	1,418	5,529	3,999
Operating expenses	650	444	2,006	1,442
General and administrative	43	39	156	140
(Recovery of) provision for doubtful accounts and loan losses	0	0	0	0
Impairment of real estate			0
Total expenses	4,547	3,519	13,884	10,136
Other income (expense):
Loss on extinguishment of debt			0
Other income (expense)	0	0	(73)	0
Net loss on sales of real estate	0	0	0	0
Total other income (expense)	0	0	(73)	0
Income in subsidiary	0	0	0	0
Net income	2,705	2,444	7,829	7,113
Net loss attributable to noncontrolling interests	25	27	66	47
Net income attributable to Sabra Health Care REIT, Inc.	2,730	2,471	7,895	7,160
Preferred stock dividends	0	0	0	0
Net income attributable to common stockholders	$ 2,730	$ 2,471	$ 7,895	$ 7,160

SUMMARIZED CONDENSED CONSOLID67

SUMMARIZED CONDENSED CONSOLIDATING INFORMATION - Condensed Consolidating Statement of Comprehensive Income (unaudited) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Condensed Financial Statements, Captions [Line Items]
Net income	$ 25,312	$ 18,034	$ 47,035	$ 54,299
Other comprehensive (loss) income:
Foreign currency translation (loss) income	(500)	970	(749)	375
Unrealized gain (loss) on cash flow hedges	398	(1,781)	(1,300)	(4,470)
Total other comprehensive loss	(102)	(811)	(2,049)	(4,095)
Comprehensive income	25,210	17,223	44,986	50,204
Comprehensive loss attributable to noncontrolling interest	25	27	66	47
Comprehensive income attributable to Sabra Health Care REIT, Inc.	25,235	17,250	45,052	50,251
Elimination [Member]
Condensed Financial Statements, Captions [Line Items]
Net income	(71,792)	(56,774)	(160,641)	(175,546)
Other comprehensive (loss) income:
Foreign currency translation (loss) income	0	0	0	0
Unrealized gain (loss) on cash flow hedges	0	0	0	0
Total other comprehensive loss	0	0	0	0
Comprehensive income	(71,792)	(56,774)	(160,641)	(175,546)
Comprehensive loss attributable to noncontrolling interest	0	0	0	0
Comprehensive income attributable to Sabra Health Care REIT, Inc.	(71,792)	(56,774)	(160,641)	(175,546)
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Net income	25,405	18,061	47,297	54,346
Other comprehensive (loss) income:
Foreign currency translation (loss) income	0	0	0	0
Unrealized gain (loss) on cash flow hedges	0	0	0	0
Total other comprehensive loss	0	0	0	0
Comprehensive income	25,405	18,061	47,297	54,346
Comprehensive loss attributable to noncontrolling interest	0	0	0	0
Comprehensive income attributable to Sabra Health Care REIT, Inc.	25,405	18,061	47,297	54,346
Issuers [Member]
Condensed Financial Statements, Captions [Line Items]
Net income	28,073	20,947	55,783	66,149
Other comprehensive (loss) income:
Foreign currency translation (loss) income	153	4,609	(2,204)	4,445
Unrealized gain (loss) on cash flow hedges	398	(1,781)	(1,300)	(4,470)
Total other comprehensive loss	551	2,828	(3,504)	(25)
Comprehensive income	28,624	23,775	52,279	66,124
Comprehensive loss attributable to noncontrolling interest	0	0	0	0
Comprehensive income attributable to Sabra Health Care REIT, Inc.	28,624	23,775	52,279	66,124
Combined Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net income	40,921	33,356	96,767	102,237
Other comprehensive (loss) income:
Foreign currency translation (loss) income	(514)	(2,765)	1,148	(3,091)
Unrealized gain (loss) on cash flow hedges	0	0	0	0
Total other comprehensive loss	(514)	(2,765)	1,148	(3,091)
Comprehensive income	40,407	30,591	97,915	99,146
Comprehensive loss attributable to noncontrolling interest	0	0	0	0
Comprehensive income attributable to Sabra Health Care REIT, Inc.	40,407	30,591	97,915	99,146
Combined Non-Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net income	2,705	2,444	7,829	7,113
Other comprehensive (loss) income:
Foreign currency translation (loss) income	(139)	(874)	307	(979)
Unrealized gain (loss) on cash flow hedges	0	0	0	0
Total other comprehensive loss	(139)	(874)	307	(979)
Comprehensive income	2,566	1,570	8,136	6,134
Comprehensive loss attributable to noncontrolling interest	25	27	66	47
Comprehensive income attributable to Sabra Health Care REIT, Inc.	$ 2,591	$ 1,597	$ 8,202	$ 6,181

SUMMARIZED CONDENSED CONSOLID68

SUMMARIZED CONDENSED CONSOLIDATING INFORMATION - Condensed Consolidating Statement of Cash Flows (unaudited) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	$ 133,816	$ 79,115
Cash flows from investing activities:
Acquisitions of real estate	(109,619)	(386,572)
Origination and fundings of loans receivable	(9,478)	(26,207)
Preferred equity investments	(6,845)	(9,281)
Additions to real estate	(901)	(1,596)
DIP Financing	0	(3,302)
Repayment of loans receivable	214,947	3,285
Release of contingent consideration held in escrow	0	5,240
Investment in subsidiary	0	0
Net proceeds from the sale of real estate	85,449	15,752
Distribution from subsidiary	0	0
Intercompany financing	0	0
Net cash provided by (used in) investing activities	173,553	(402,681)
Cash flows from financing activities:
Net repayments from revolving credit facility	(255,000)	136,000
Proceeds from term loans	69,360	73,242
Proceeds from mortgage notes	0	28,735
Principal payments on mortgage notes	(13,756)	(2,184)
Payments of deferred financing costs	(5,933)	(1,314)
Issuance of common stock	(1,289)	139,617
Dividends paid on common and preferred stock	(89,283)	(80,619)
Contribution from parent	0	0
Distribution to parent	0	0
Intercompany financing	0	0
Net cash (used in) provided by financing activities	(295,901)	293,477
Net increase (decrease) in cash and cash equivalents	11,468	(30,089)
Effect of foreign currency translation on cash and cash equivalents	772	(231)
Cash and cash equivalents, beginning of period	7,434	61,793
Cash and cash equivalents, end of period	19,674	31,473
Elimination [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash 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
DIP Financing		0
Repayment of loans receivable	0	0
Release of contingent consideration held in escrow		0
Investment in subsidiary	400	828
Net proceeds from the sale of real estate	0	0
Distribution from subsidiary	(12,808)	(2,710)
Intercompany financing	(179,954)	467,513
Net cash provided by (used in) investing activities	(192,362)	465,631
Cash flows from financing activities:
Net repayments from revolving credit facility	0	0
Proceeds from term loans	0	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	(400)	(828)
Distribution to parent	12,808	2,710
Intercompany financing	179,954	(467,513)
Net cash (used in) provided by financing activities	192,362	(465,631)
Net increase (decrease) in cash and cash equivalents	0	0
Effect of foreign currency translation on cash and cash equivalents	0	0
Cash and cash equivalents, beginning of period	0	0
Cash and cash equivalents, end of period	0	0
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	113,886	74,256
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	(124)	(11)
DIP Financing		0
Repayment of loans receivable	0	0
Release of contingent consideration held in escrow		0
Investment in subsidiary	(200)	(414)
Net proceeds from the sale of real estate	0	0
Distribution from subsidiary	6,404	1,355
Intercompany financing	(17,684)	(165,871)
Net cash provided by (used in) investing activities	(11,604)	(164,941)
Cash flows from financing activities:
Net repayments from revolving credit facility	0	0
Proceeds from term loans	0	0
Proceeds from mortgage notes		0
Principal payments on mortgage notes	0	0
Payments of deferred financing costs	0	0
Issuance of common stock	(1,289)	139,617
Dividends paid on common and preferred stock	(89,283)	(80,619)
Contribution from parent	0	0
Distribution to parent	0	0
Intercompany financing	0	0
Net cash (used in) provided by financing activities	(90,572)	58,998
Net increase (decrease) in cash and cash equivalents	11,710	(31,687)
Effect of foreign currency translation on cash and cash equivalents	0	(203)
Cash and cash equivalents, beginning of period	2,548	58,799
Cash and cash equivalents, end of period	14,258	26,909
Issuers [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash 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
DIP Financing		0
Repayment of loans receivable	0	0
Release of contingent consideration held in escrow		0
Investment in subsidiary	(200)	(414)
Net proceeds from the sale of real estate	0	0
Distribution from subsidiary	6,404	1,355
Intercompany financing	197,638	(301,642)
Net cash provided by (used in) investing activities	203,842	(300,701)
Cash flows from financing activities:
Net repayments from revolving credit facility	(255,000)	136,000
Proceeds from term loans	45,000	0
Proceeds from mortgage notes		0
Principal payments on mortgage notes	0	0
Payments of deferred financing costs	(5,322)	(229)
Issuance of common stock	0	0
Dividends paid on common and preferred stock	0	0
Contribution from parent	200	414
Distribution to parent	(6,404)	(1,355)
Intercompany financing	17,684	165,871
Net cash (used in) provided by financing activities	(203,842)	300,701
Net increase (decrease) in cash and cash equivalents	0	0
Effect of foreign currency translation on cash and cash equivalents	0	0
Cash and cash equivalents, beginning of period	0	0
Cash and cash equivalents, end of period	0	0
Combined Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	555	22
Cash flows from investing activities:
Acquisitions of real estate	(109,619)	(375,324)
Origination and fundings of loans receivable	(9,478)	(26,207)
Preferred equity investments	(6,845)	(9,281)
Additions to real estate	(400)	(1,100)
DIP Financing		(3,302)
Repayment of loans receivable	214,947	3,285
Release of contingent consideration held in escrow		5,240
Investment in subsidiary	0	0
Net proceeds from the sale of real estate	85,449	15,752
Distribution from subsidiary	0	0
Intercompany financing	0	0
Net cash provided by (used in) investing activities	174,054	(390,937)
Cash flows from financing activities:
Net repayments from revolving credit facility	0	0
Proceeds from term loans	24,360	73,242
Proceeds from mortgage notes		0
Principal payments on mortgage notes	0	0
Payments of deferred financing costs	(611)	(714)
Issuance of common stock	0	0
Dividends paid on common and preferred stock	0	0
Contribution from parent	0	0
Distribution to parent	0	0
Intercompany financing	(197,638)	318,618
Net cash (used in) provided by financing activities	(173,889)	391,146
Net increase (decrease) in cash and cash equivalents	720	231
Effect of foreign currency translation on cash and cash equivalents	759	(20)
Cash and cash equivalents, beginning of period	1,008	0
Cash and cash equivalents, end of period	2,487	211
Combined Non-Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	19,375	4,837
Cash flows from investing activities:
Acquisitions of real estate	0	(11,248)
Origination and fundings of loans receivable	0	0
Preferred equity investments	0	0
Additions to real estate	(377)	(485)
DIP Financing		0
Repayment of loans receivable	0	0
Release of contingent consideration held in escrow		0
Investment in subsidiary	0	0
Net proceeds from the sale of real estate	0	0
Distribution from subsidiary	0	0
Intercompany financing	0	0
Net cash provided by (used in) investing activities	(377)	(11,733)
Cash flows from financing activities:
Net repayments from revolving credit facility	0	0
Proceeds from term loans	0	0
Proceeds from mortgage notes		28,735
Principal payments on mortgage notes	(13,756)	(2,184)
Payments of deferred financing costs	0	(371)
Issuance of common stock	0	0
Dividends paid on common and preferred stock	0	0
Contribution from parent	200	414
Distribution to parent	(6,404)	(1,355)
Intercompany financing	0	(16,976)
Net cash (used in) provided by financing activities	(19,960)	8,263
Net increase (decrease) in cash and cash equivalents	(962)	1,367
Effect of foreign currency translation on cash and cash equivalents	13	(8)
Cash and cash equivalents, beginning of period	3,878	2,994
Cash and cash equivalents, end of period	$ 2,929	$ 4,353

PRO FORMA FINANCIAL INFORMATI69

PRO FORMA FINANCIAL INFORMATION - Narrative (Details) - Series of Individually Immaterial Business Acquisitions [Member] $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2016USD ($)Facilitiy	Sep. 30, 2015Facilitiy
Business Acquisition [Line Items]
Acquisition pursuit costs | $	$ 1.1	$ 1.1
Skilled Nursing Transitional Care Facilities [Member]
Business Acquisition [Line Items]
Number of acquired properties		1	3
Senior Housing Facilities [Member]
Business Acquisition [Line Items]
Number of acquired properties		3	19

PRO FORMA FINANCIAL INFORMATI70

PRO FORMA FINANCIAL INFORMATION - Schedule of Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Net income attributable to common stockholders, per:
Weighted-average number of common shares outstanding, basic (in shares)	65,312,288	65,160,290	65,285,591	61,244,991
Weighted-average number of common shares outstanding, diluted (in shares)	65,591,428	65,398,175	65,470,589	61,468,603
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Revenues	$ 62,858	$ 63,890	$ 204,889	$ 198,021
Depreciation and amortization	17,404	17,714	53,111	53,301
Net income attributable to common stockholders	$ 24,512	$ 22,392	$ 44,842	$ 69,930
Net income attributable to common stockholders, per:
Basic common share (in dollars per share)	$ 0.38	$ 0.34	$ 0.69	$ 1.14
Diluted common share (in dollars per share)	$ 0.37	$ 0.34	$ 0.68	$ 1.14
Weighted-average number of common shares outstanding, basic (in shares)	65,312,288	65,160,290	65,285,591	61,244,991
Weighted-average number of common shares outstanding, diluted (in shares)	65,591,428	65,398,175	65,470,589	61,468,603

SUBSEQUENT EVENTS - Narrative (

SUBSEQUENT EVENTS - Narrative (Details) - $ / shares	Nov. 02, 2016	Aug. 01, 2016	May 02, 2016	Feb. 03, 2016	Sep. 30, 2016	Sep. 30, 2015
Subsequent Event [Line Items]
Common dividends, declared (in dollars per share)		$ 0.42	$ 0.42	$ 0.41	$ 1.25	$ 1.19
Subsequent Event [Member] | Dividend Declared [Member]
Subsequent Event [Line Items]
Common dividends, declared (in dollars per share)	$ 0.42
Preferred stock dividends, declared (in dollars per share)	$ 0.4453125