Sabra Health Care REIT (SBRA) 10-K 21 Feb 18 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2017	Feb. 13, 2018	Jun. 30, 2017
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-K
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		178,255,843
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 1.5

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Assets
Real estate investments, net of accumulated depreciation of $340,423 and $282,812 as of December 31, 2017 and 2016, respectively	$ 5,994,432	$ 2,009,939
Loans receivable and other investments, net	114,390	96,036
Cash and cash equivalents	518,632	25,663
Restricted cash	68,817	9,002
Lease intangible assets, net	167,119	26,250
Accounts receivable, prepaid expenses and other assets, net	168,887	99,029
Total assets	7,032,277	2,265,919
Liabilities
Secured debt, net	256,430	160,752
Revolving credit facility	641,000	26,000
Term loans, net	1,190,774	335,673
Senior unsecured notes, net	1,306,286	688,246
Accounts payable and accrued liabilities	102,523	39,639
Lease intangible liabilities, net	98,015	0
Total liabilities	3,595,028	1,250,310
Commitments and contingencies
Equity
Preferred stock, $.01 par value; 10,000,000 shares authorized, 5,750,000 shares issued and outstanding as of December 31, 2017 and 2016	58	58
Common stock, $.01 par value; 250,000,000 shares authorized, 178,255,843 and 65,285,614 shares issued and outstanding as of December 31, 2017 and 2016, respectively	1,783	653
Additional paid-in capital	3,636,913	1,208,862
Cumulative distributions in excess of net income	(217,236)	(192,201)
Accumulated other comprehensive income (loss)	11,289	(1,798)
Total Sabra Health Care REIT, Inc. stockholders’ equity	3,432,807	1,015,574
Noncontrolling interests	4,442	35
Total equity	3,437,249	1,015,609
Total liabilities and equity	$ 7,032,277	$ 2,265,919

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Assets
Accumulated depreciation	$ 340,423	$ 282,812
Equity
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	5,750,000	5,750,000
Preferred stock, shares outstanding	5,750,000	5,750,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	178,255,843	65,285,614
Common stock, shares outstanding	178,255,843	65,285,614

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenues:
Rental income	$ 364,191,000	$ 225,275,000	$ 209,851,000
Interest and other income	15,026,000	27,463,000	25,505,000
Resident fees and services	26,430,000	7,788,000	3,508,000
Total revenues	405,647,000	260,526,000	238,864,000
Expenses:
Depreciation and amortization	113,882,000	68,472,000	63,079,000
Interest	88,440,000	64,873,000	59,218,000
Operating expenses	17,860,000	5,703,000	2,576,000
General and administrative	32,401,000	17,672,000	16,093,000
Merger and acquisition costs	30,255,000	1,197,000	7,023,000
Provision for doubtful accounts and loan losses	17,113,000	5,543,000	12,842,000
Impairment of real estate	1,326,000	29,811,000	0
Total expenses	301,277,000	193,271,000	160,831,000
Other income (expense):
Loss on extinguishment of debt	(553,000)	(556,000)	0
Other income	3,170,000	10,677,000	2,260,000
Net gain (loss) on sales of real estate	52,029,000	(6,122,000)	(161,000)
Total other income (expense)	54,646,000	3,999,000	2,099,000
Income before income tax expense	159,016,000	71,254,000	80,132,000
Income tax expense	(651,000)	(1,049,000)	(749,000)
Net income	158,365,000	70,205,000	79,383,000
Net loss attributable to noncontrolling interests	18,000	71,000	30,000
Net income attributable to Sabra Health Care REIT, Inc.	158,383,000	70,276,000	79,413,000
Preferred stock dividends	(10,242,000)	(10,242,000)	(10,242,000)
Net income attributable to common stockholders	$ 148,141,000	$ 60,034,000	$ 69,171,000
Net income attributable to common stockholders, per:
Basic common share (in dollars per share)	$ 1.40	$ 0.92	$ 1.11
Diluted common share (in dollars per share)	$ 1.40	$ 0.92	$ 1.11
Weighted-average number of common shares outstanding, basic (in shares)	105,621,242	65,284,251	62,235,014
Weighted-average number of common shares outstanding, diluted (in shares)	105,842,434	65,520,672	62,460,239

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income		$ 158,365	$ 70,205	$ 79,383
Unrealized gain (loss), net of tax:
Foreign currency translation gain (loss)		154	(1,634)	(1,433)
Unrealized gain (loss) on cash flow hedge	[1]	12,933	7,169	(4,358)
Total other comprehensive income (loss)		13,087	5,535	(5,791)
Comprehensive income		171,452	75,740	73,592
Comprehensive loss attributable to noncontrolling interest		18	71	30
Comprehensive income attributable to Sabra Health Care REIT, Inc.		$ 171,470	$ 75,811	$ 73,622
[1]	Amounts are net of provision for income taxes of $0.1 million for the year ended December 31, 2017 and none for the years ended December 31, 2016 and 2015.

CONSOLIDATED STATEMENTS OF COM6

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Provision for income taxes	$ 100,000	$ 0	$ 0

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Total Stockholders’ Equity	Preferred Stock	Common Stock	Additional Paid-in Capital	Cumulative Distributions in Excess of Net Income	Accumulated Other Comprehensive Loss	Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2014			5,750,000	59,047,001
Beginning balance at Dec. 31, 2014	$ 941,823	$ 941,866	$ 58	$ 590	$ 1,053,601	$ (110,841)	$ (1,542)	$ (43)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	79,383	79,413				79,413		(30)
Other comprehensive income	(5,791)	(5,791)					(5,791)
Amortization of stock-based compensation	6,946	6,946			6,946
Common stock issuance, net (in shares)				6,135,334
Common stock issuance, net	142,056	142,056		$ 62	141,994
Preferred dividends	(10,242)	(10,242)				(10,242)
Common dividends	(100,478)	(100,478)				(100,478)
Contribution from noncontrolling interest	179							179
Ending balance (in shares) at Dec. 31, 2015			5,750,000	65,182,335
Ending balance at Dec. 31, 2015	1,053,876	1,053,770	$ 58	$ 652	1,202,541	(142,148)	(7,333)	106
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	70,205	70,276				70,276		(71)
Other comprehensive income	5,535	5,535					5,535
Amortization of stock-based compensation	8,559	8,559			8,559
Common stock issuance, net (in shares)				134,509
Common stock issuance, net	(1,512)	(1,512)		$ 1	(1,513)
Repurchase of common stock (in shares)				(31,230)
Repurchase of common stock	(725)	(725)			(725)
Preferred dividends	(10,242)	(10,242)				(10,242)
Common dividends	(110,087)	(110,087)				(110,087)
Ending balance (in shares) at Dec. 31, 2016			5,750,000	65,285,614
Ending balance at Dec. 31, 2016	1,015,609	1,015,574	$ 58	$ 653	1,208,862	(192,201)	(1,798)	35
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	158,365	158,383				158,383		(18)
Other comprehensive income	13,087	13,087					13,087
Change in noncontrolling interests	4,455							4,455
Distributions to noncontrolling interests	(30)							(30)
Amortization of stock-based compensation	9,244	9,244			9,244
Common stock issuance, net (in shares)				112,970,229
Common stock issuance, net	2,419,937	2,419,937		$ 1,130	2,418,807
Preferred dividends	(10,242)	(10,242)				(10,242)
Common dividends	(173,176)	(173,176)				(173,176)
Ending balance (in shares) at Dec. 31, 2017			5,750,000	178,255,843
Ending balance at Dec. 31, 2017	$ 3,437,249	$ 3,432,807	$ 58	$ 1,783	$ 3,636,913	$ (217,236)	$ 11,289	$ 4,442

CONSOLIDATED STATEMENTS OF EQU8

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Stockholders' Equity [Abstract]
Common dividends (in dollars per share)	$ 1.73	$ 1.67	$ 1.60

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net income	$ 158,365,000	$ 70,205,000	$ 79,383,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	113,882,000	68,472,000	63,079,000
Amortization of above and below market lease intangibles, net	(912,000)	0	0
Non-cash interest income adjustments	(769,000)	582,000	626,000
Non-cash interest expense	7,776,000	5,678,000	5,279,000
Stock-based compensation expense	8,359,000	7,496,000	6,123,000
Loss on extinguishment of debt	553,000	556,000	0
Straight-line rental income adjustments	(29,440,000)	(21,984,000)	(24,320,000)
Provision for doubtful accounts and loan losses	17,113,000	5,543,000	12,842,000
Change in fair value of contingent consideration	(426,000)	(1,526,000)	(1,550,000)
Gain on consolidation	0	0	(710,000)
Net (gain) loss on sales of real estate	(52,029,000)	6,122,000	161,000
Impairment of real estate	1,326,000	29,811,000	0
Changes in operating assets and liabilities:
Accounts receivable, prepaid expenses and other assets	(16,734,000)	(1,981,000)	(22,827,000)
Accounts payable and accrued liabilities	(67,257,000)	11,462,000	6,977,000
Restricted cash	(6,321,000)	(3,697,000)	(3,962,000)
Net cash provided by operating activities	133,486,000	176,739,000	121,101,000
Cash flows from investing activities:
Acquisition of real estate	(419,905,000)	(153,579,000)	(461,330,000)
Cash received in CCP Merger	77,859,000	0	0
Origination and fundings of loans receivable	(17,239,000)	(9,675,000)	(49,687,000)
Origination and fundings of preferred equity investments	(2,749,000)	(7,348,000)	(12,804,000)
Additions to real estate	(6,954,000)	(1,003,000)	(3,689,000)
Repayment of loans receivable	32,430,000	215,962,000	5,803,000
Repayment of preferred equity investments	3,755,000	0	0
Release of contingent consideration held in escrow	0	0	5,240,000
Net proceeds from sale of real estate	92,731,000	98,006,000	27,241,000
Net cash (used in) provided by investing activities	(240,072,000)	142,363,000	(489,226,000)
Cash flows from financing activities:
Net proceeds from (repayments of) revolving credit facility	253,000,000	(229,000,000)	187,000,000
Proceeds from term loans	181,000,000	69,360,000	73,242,000
Proceeds from secured debt	0	0	28,735,000
Principal payments on secured debt	(4,145,000)	(14,768,000)	(3,132,000)
Payments of deferred financing costs	(15,337,000)	(5,937,000)	(1,452,000)
Payment of contingent consideration	(382,000)	0	0
Distributions to noncontrolling interests	(30,000)	0	0
Contributions by noncontrolling interests	0	0	179,000
Issuance of common stock, net	366,800,000	(1,289,000)	139,403,000
Dividends paid on common and preferred stock	(182,089,000)	(119,264,000)	(109,897,000)
Net cash provided by (used in) financing activities	598,817,000	(300,898,000)	314,078,000
Net increase (decrease) in cash and cash equivalents	492,231,000	18,204,000	(54,047,000)
Effect of foreign currency translation on cash and cash equivalents	738,000	25,000	(312,000)
Cash and cash equivalents, beginning of period	25,663,000	7,434,000	61,793,000
Cash and cash equivalents, end of period	518,632,000	25,663,000	7,434,000
Supplemental disclosure of cash flow information:
Interest paid	69,686,000	59,234,000	53,875,000
Income taxes paid	714,000	854,000	657,000
Supplemental disclosure of non-cash investing and financing activities:
Acquisition of business in CCP Merger (see Note 3)	3,726,092,000	0	0
Assumption of indebtedness in CCP Merger	(1,751,373,000)	0	0
Stock exchanged in CCP Merger	(2,052,578,000)	0	0
Real estate acquired through loan receivable foreclosure	19,096,000	10,100,000	0
Proceeds from sale of real estate held by exchange accommodation titleholder variable interest entities	57,512,000	0	0
Decrease in loans receivable and other investments due to acquisition of real estate	(6,913,000)	0	0
Assumption of secured indebtedness	0	0	30,456,000
Increase in real estate investments due to variable interest consolidation	0	0	10,700,000
Decrease in loans receivable and preferred equity due to variable interest consolidation	$ 0	$ 0	$ (8,615,000)

BUSINESS

BUSINESS	12 Months Ended
	Dec. 31, 2017
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 communities and specialty hospitals and other facilities, in each case leased to third-party operators; senior housing communities operated by third-party property managers pursuant to property management agreements (“Senior Housing - Managed”); investments in loans receivable; and preferred equity investments. On May 7, 2017, the Company, the Operating Partnership, PR Sub, LLC, a Delaware limited liability company and wholly owned subsidiary of the Company (“Merger Sub”), Care Capital Properties, Inc., a Delaware corporation (“CCP”), and Care Capital Properties, L.P. (“CCPLP”), a Delaware limited partnership and wholly owned subsidiary of CCP, entered into an Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which, on August 17, 2017, CCP merged with and into Merger Sub, with Merger Sub continuing as the surviving corporation (the “CCP Merger”), following which Merger Sub merged with and into the Company, with the Company continuing as the surviving entity (the “Subsequent Merger”), and, simultaneous with the Subsequent Merger, CCPLP merged with and into the Operating Partnership, with the Operating Partnership continuing as the surviving entity. Pursuant to the Merger Agreement, as of the effective time of the CCP Merger, each share of CCP common stock, par value $0.01 per share, issued and outstanding immediately prior to the effective time of the CCP Merger (other than shares of CCP common stock owned directly by CCP, the Company or their respective subsidiaries, in each case not held on behalf of third parties) was converted into the right to receive 1.123 newly issued shares of Company common stock, par value $0.01 per share, plus cash in lieu of any fractional shares. See Note 3, “CCP Merger and Recent Real Estate Acquisitions,” for additional information regarding the CCP Merger. The acquisition of CCP has been reflected in the Company’s consolidated financial statements since the effective date of the CCP Merger.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements include the accounts of Sabra and its wholly owned subsidiaries as of December 31, 2017 and 2016 and for the years ended December 31, 2017 , 2016 and 2015 . All significant intercompany transactions and balances have been eliminated in consolidation. The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). 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 December 31, 2017 , the Company determined it was the primary beneficiary of 19 VIEs— 18 exchange accommodation titleholder variable interest entities and a joint venture variable interest entity owning one skilled nursing/transitional care facility—and has consolidated the operations of these entities in the accompanying consolidated financial statements. As of December 31, 2017 , the Company determined that operations of these entities 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 December 31, 2017 and 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 also applies this guidance to managing member interests in limited liability companies. 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 or members, the sole general partner or managing member increases or decreases its ownership interests, or there is an increase or decrease in the number of outstanding ownership interests. As of December 31, 2017 , the Company’s determination of which entity controls its investments in joint ventures has not changed as a result of any reassessment. Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. Reclassifications Certain amounts in the Company’s 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 consolidated balance sheets and consolidated statements of income. Real Estate Investments and Rental Revenue Recognition Real Estate Acquisition Valuation All assets acquired and liabilities assumed in an acquisition of real estate accounted for as a business combination are measured at their acquisition date fair values. For acquisitions of real estate accounted for as an asset acquisition, the fair value of consideration transferred by the Company (including transaction costs) is allocated to all assets acquired and liabilities assumed on a relative fair value basis. The acquisition value of land, building and improvements are included in real estate investments on the accompanying consolidated balance sheets. The acquisition value of above market lease, tenant origination and absorption costs and tenant relationship intangible assets is included in lease intangible assets, net on the accompanying consolidated balance sheets. The acquisition value of below market lease intangible liabilities is included in lease intangible liabilities, net on the accompanying consolidated balance sheets. Acquisition costs associated with real estate acquisitions deemed asset acquisitions are capitalized, and costs associated with real estate acquisitions deemed business combinations are expensed as incurred. The Company capitalized $1.0 million and $0.3 million of acquisition costs during the years ended December 31, 2017 and 2016 , respectively. Restructuring costs that do not meet the definition of a liability at the acquisition date are expensed in periods subsequent to the acquisition date. During the years ended December 31, 2017 , 2016 and 2015 , the Company expensed $30.3 million , $1.2 million and $7.0 million , respectively, of merger and acquisition costs. Estimates of the fair values of the tangible assets, identifiable intangibles and assumed liabilities require the Company to make significant assumptions to estimate market lease rates, property operating expenses, carrying costs during lease-up periods, discount rates, market absorption periods, and the number of years the property will be held for investment. The Company makes its best estimate based on the Company’s evaluation of the specific characteristics of each tenant’s lease. The use of inappropriate assumptions would result in an incorrect valuation of the Company’s acquired tangible assets, identifiable intangibles and assumed liabilities, which would impact the amount of the Company’s net income. Depreciation and Amortization Real estate costs related to the acquisition and improvement of properties are capitalized and amortized on a straight-line basis over the lesser of the expected useful life of the asset and the remaining lease term of any property subject to a ground lease. Tenant improvements are capitalized and amortized on a straight-line basis over the lesser of the expected useful life of the asset and the remaining lease term. Depreciation is discontinued when a property is identified as held for sale. Repair and maintenance costs are charged to expense as incurred and significant replacements and betterments are capitalized. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset. The Company considers the period of future benefit of an asset to determine its appropriate useful life. Depreciation of real estate assets and amortization of tenant origination and absorption costs and tenant relationship lease intangibles are included in depreciation and amortization on the accompanying consolidated statements of income. Amortization of above and below market lease intangibles is included in rental income on the accompanying consolidated statements of income. The Company anticipates the estimated useful lives of its assets by class to be generally as follows: land improvements, 3 to 40 years; buildings and building improvements, 3 to 40 years; and furniture and equipment, 1 to 20 years. Intangibles are generally amortized over the remaining noncancellable lease terms, with tenant relationship intangible amortization periods including extension periods of up to 10 years . Impairment of Real Estate Investments The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate investments may not be recoverable or realized. When indicators of potential impairment suggest that the carrying value of real estate investments may not be recoverable, the Company assesses the recoverability by estimating whether the Company will recover the carrying value of its real estate investments through the undiscounted future cash flows and the eventual disposition of the investment. In some instances, there may be various potential outcomes for an investment and its potential future cash flows. In these instances, the undiscounted future cash flows used to assess recoverability are probability-weighted based on the Company’s best estimates as of the date of evaluation. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of its real estate investments, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of its real estate investments. During the year ended December 31, 2017, the Company recorded an impairment loss of $1.3 million related to one skilled nursing/transitional care facility. During the year ended December 31, 2016, the Company recorded an impairment loss of $29.8 million related to the Company’s Forest Park - Frisco real estate investment. This facility was subsequently disposed of during the year ended December 31, 2016. The Company did no t record any impairment losses on its real estate investments during the year ended December 31, 2015. Revenue Recognition The Company recognizes rental revenue from tenants, including rental abatements, lease incentives and contractual fixed increases attributable to operating leases, on a straight-line basis over the term of the related leases when collectability is reasonably assured. Certain of the Company’s leases provide for contingent rents equal to a percentage of the facility’s revenue in excess of specified base amounts or other thresholds. Such revenue is recognized when actual results reported by the tenant, or estimates of tenant results, exceed the applicable base amount or other threshold. The Company makes estimates of the collectability of its tenant receivables related to base rents, straight-line rent and other revenues. When the Company analyzes accounts receivable and evaluates the adequacy of the allowance for doubtful accounts, it considers such things as historical bad debts, tenant creditworthiness, current economic trends, facility operating performance, lease structure, credit enhancements (including guarantees), current developments relevant to a tenant’s business specifically and to its business category generally, and changes in tenants’ payment patterns. Specifically for straight-line rent receivables, the Company’s assessment includes an estimation of a tenant’s ability to fulfill its rental obligations over the remaining lease term. In addition, with respect to tenants in bankruptcy, management makes estimates of the expected recovery of pre-petition and post-petition claims in assessing the estimated collectability of the related receivable. When a tenant is in bankruptcy, the Company records a provision for doubtful accounts for management’s estimate of the tenant’s receivable balance that is uncollectible and generally will not recognize subsequent rental revenue until cash is received or until the tenant is no longer in bankruptcy and has the ability to make rental payments. The Company’s collectability estimates for straight-line rent receivables include an assessment at the individual or master lease level as well as at an overall portfolio level. Revenue from resident fees and services is recorded monthly as services are provided and includes resident room and care charges and other resident charges. Assets Held for Sale, Dispositions and Discontinued Operations The Company generally considers real estate to be “held for sale” when the following criteria are met: (i) management commits to a plan to sell the property, (ii) the property is available for sale immediately, (iii) the property is actively being marketed for sale at a price that is reasonable in relation to its current fair value, (iv) the sale of the property within one year is considered probable and (v) significant changes to the plan to sell are not expected. Real estate that is held for sale and its related assets are classified as assets held for sale for all periods presented in the accompanying consolidated financial statements. Secured indebtedness and other liabilities related to real estate held for sale are classified as liabilities related to assets held for sale for all periods presented in the accompanying consolidated financial statements. Real estate classified as held for sale is no longer depreciated and is reported at the lower of its carrying value or its estimated fair value less estimated costs to sell. As of December 31, 2017 and 2016 , the Company did no t have any assets held for sale. The Company recognizes gain on sales of real estate upon closing of the transaction with the purchaser. The Company uses the full accrual method upon closing if collectability of the sales price is reasonably assured, the Company is not obligated to perform any significant activities after the sale, the Company has received adequate initial investment from the purchaser and other profit recognition criteria have been satisfied. Gain on sales of real estate may be deferred in whole or in part until all requirements for recognition have been met. Additionally, the Company records the operating results related to real estate that has been disposed of or classified as held for sale as discontinued operations for all periods presented if it represents a strategic shift that has or will have a major effect on the Company’s operations and financial results. Net Investment in Direct Financing Lease As of December 31, 2017 , the Company had a $23.0 million net investment in one skilled nursing/transitional care facility leased to an operator under a direct financing lease, as the tenant is obligated to purchase the property at the end of the lease term in 2021. The net investment in direct financing lease is recorded in accounts receivable, prepaid expenses and other assets, net on the accompanying consolidated balance sheets and represents the total undiscounted rental payments of $7.1 million , plus the estimated unguaranteed residual value of $24.7 million , less the unearned lease income of $8.8 million as of December 31, 2017 . Unearned lease income represents the excess of the minimum lease payments and residual values over the cost of the investment. Unearned lease income is deferred and amortized to income over the lease term to provide a constant yield when collectability of the lease payments is reasonably assured. Income from the Company’s net investment in direct financing lease was $1.0 million for the year ended December 31, 2017 and is reflected in interest and other income on the accompanying consolidated statements of income. Future minimum lease payments contractually due under the direct financing lease at December 31, 2017 , were as follows: $2.2 million for 2018; $2.2 million for 2019; $2.3 million for 2020; and $2.1 million for 2021. Loans Receivable and Interest Income Loans Receivable The Company’s loans receivable are reflected at amortized cost on the accompanying consolidated balance sheets. The amortized cost of a loan receivable is the outstanding unpaid principal balance, net of unamortized discounts, costs and fees directly associated with the origination of the loan. Loans acquired in connection with a business combination are recorded at their acquisition date fair value. The Company determines the fair value of loans receivable based on estimates of expected discounted cash flows, collateral, credit risk and other factors. The Company does not establish a valuation allowance at the acquisition date, as the amount of estimated future cash flows reflects its judgment regarding their uncertainty. The Company recognizes the difference between the acquisition date fair value and the total expected cash flows as interest income using the effective interest method over the life of the applicable loan. The Company immediately recognizes in income any unamortized balances if the loan is repaid before its contractual maturity. On a quarterly basis, the Company evaluates the collectability of its loan portfolio, including related interest income receivable, and establishes a reserve for loan losses. The Company’s evaluation includes reviewing credit quality indicators such as payment status, changes affecting the underlying real estate collateral (for collateral dependent loans), changes affecting the operations of the facilities securing the loans, and national and regional economic factors. The reserve for loan losses is a valuation allowance that reflects management’s estimate of loan losses inherent in the loan portfolio as of the balance sheet date. The reserve is adjusted through provision for doubtful accounts and loan losses on the Company’s consolidated statements of income and is decreased by charge-offs to specific loans when losses are confirmed. The reserve for loan losses includes an asset-specific component and a portfolio-based component. An asset-specific reserve relates to reserves for losses on loans considered impaired and interest income receivable that is deemed uncollectible. The Company considers a loan to be impaired when, based upon current information and events, management believes that it is probable that the Company will be unable to collect all amounts due under the contractual terms of the loan agreement resulting from the borrower’s failure to repay contractual amounts due, the granting of a concession by the Company or the expectation that the Company will receive assets with fair values less than the carrying value of the loan in satisfaction of the loan. If a loan is considered to be impaired, a reserve is established when the carrying value of that loan is greater than the present value of payments expected to be received, the observable market prices for similar instruments, the estimated fair value of the collateral (for loans that are dependent on the collateral for repayment) or other amounts expected to be received in satisfaction of the loan. A portfolio-based reserve covers the pool of loans that do not have asset-specific reserves. A provision for loan losses is recorded when available information as of each balance sheet date indicates that it is probable that a loss occurred in the pool of loans and the amount of the loss can be reasonably estimated, but the Company does not know which specific loans within the pool will ultimately result in losses. The required reserve balances for this pool of loans is derived based on estimated probabilities of default and estimated loss severities assuming a default occurs. Interest Income Interest income on the Company’s loans receivable is recognized on an accrual basis over the life of the investment using the interest method. Direct loan origination costs are amortized over the term of the loan as an adjustment to interest income. When concerns exist as to the ultimate collection of principal or interest due under a loan, the loan is placed on nonaccrual status, and the Company will not recognize interest income until the cash is received, or the loan returns to accrual status. If the Company determines that the collection of interest according to the contractual terms of the loan or through the receipts of assets in satisfaction of contractual amounts due is probable, the Company will resume the accrual of interest. In instances where borrowers are in default under the terms of their loans, the Company may continue recognizing interest income provided that all amounts owed under the contractual terms of the loan, including accrued and unpaid interest, do not exceed the estimated fair value of the collateral, less costs to sell. Preferred Equity Investments and Preferred Return Preferred equity investments are accounted for at unreturned capital contributions, plus accrued and unpaid preferred returns. The Company recognizes preferred return income on a monthly basis based on the outstanding investment including any previously accrued and unpaid return. As a preferred member of the preferred equity joint ventures in which the Company participates, the Company is not entitled to share in the joint venture’s earnings or losses. Rather, the Company is entitled to receive a preferred return, which is deferred if the cash flow of the joint venture is insufficient to currently pay the accrued preferred return. Cash and Cash Equivalents The Company considers all short-term (with an original maturity of three months or less), highly-liquid investments utilized as part of the Company’s cash-management activities to be cash equivalents. Cash equivalents may include cash and short-term investments. Short-term investments are stated at cost, which approximates fair value. The Company’s cash and cash equivalents balance exceeded federally insurable limits as of December 31, 2017 . To date, the Company has experienced no loss or lack of access to cash in its operating accounts. The Company has a corporate banking relationship with Bank of America, N.A. in which it deposits the majority of all funds. Restricted Cash Restricted cash primarily consists of amounts held by an exchange accommodation titleholder or by secured debt lenders to provide for future real estate tax expenditures, tenant improvements and capital expenditures. Pursuant to the terms of the Company’s leases with certain tenants, the Company has assigned its interests in certain of these restricted cash accounts with secured debt lenders to the tenants, and this amount is included in accounts payable and accrued liabilities on the Company’s consolidated balance sheets. As of December 31, 2017 and 2016 , restricted cash totaled $68.8 million and $9.0 million , respectively, and restricted cash obligations totaled $6.5 million and $6.8 million , respectively. Restricted cash as of December 31, 2017 includes $57.5 million held by exchange accommodation titleholders. Stock-Based Compensation Stock-based compensation expense for stock-based awards granted to Sabra’s employees and its non-employee directors is recognized in the statements of income based on the estimated grant date fair value, as adjusted. Compensation expense for awards with graded vesting schedules is generally recognized ratably over the period from the grant date to the date when the award is no longer contingent on the employee providing additional services. Compensation expense for awards with performance-based vesting conditions is recognized based on the Company’s estimate of the ultimate value of such award after considering the Company’s expectations of future performance. Forfeitures of stock-based awards are recognized as they occur. Deferred Financing Costs Deferred financing costs representing fees paid to third parties are amortized over the terms of the respective financing agreements using the interest method. Deferred financing costs related to secured debt, term loans and senior unsecured notes are recorded as a reduction of the related debt liability, and deferred financing costs related to the revolving credit facility are recorded in accounts receivable, prepaid expenses and other assets, net. Unamortized deferred financing costs are generally expensed when the associated debt is refinanced or repaid before maturity. Costs incurred in seeking financings that do not close are expensed in the period in which it is determined that the financing will not close. Income Taxes The Company elected to be treated as a REIT with the filing of its U.S. federal income tax return for the taxable year beginning January 1, 2011. The Company believes that it has been organized and operated, and it intends to continue to operate, in a manner to qualify as a REIT. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of the Company’s annual REIT taxable income to stockholders (which is computed without regard to the dividends-paid deduction or net capital gains and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax on income that it distributes as dividends to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to U.S. federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost, unless the Internal Revenue Service grants the Company relief under certain statutory provisions. Such an event could materially and adversely affect the Company’s net income and net cash available for distribution to stockholders. However, the Company believes that it is organized and operates in such a manner as to qualify for treatment as a REIT. As a result of certain investments, the Company now records income tax expense or benefit with respect to certain of its entities that are taxed as taxable REIT subsidiaries under provisions similar to those applicable to regular corporations and not under the REIT provisions. The Company accounts for deferred income taxes using the asset and liability method and recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the Company’s financial statements or tax returns. Under this method, the Company determines deferred tax assets and liabilities based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Any increase or decrease in the deferred tax liability that results from a change in circumstances, and that causes a change in the Company’s judgment about expected future tax consequences of events, is included in the tax provision when such changes occur. Deferred income taxes also reflect the impact of operating loss and tax credit carryforwards. A valuation allowance is provided if the Company believes it is more likely than not that all or some portion of the deferred tax asset will not be realized. Any increase or decrease in the valuation allowance that results from a change in circumstances, and that causes a change in the Company’s judgment about the realizability of the related deferred tax asset, is included in the tax provision when such changes occur. The Company evaluates its tax positions using a two step approach: step one (recognition) occurs when the Company concludes that a tax position, based solely on its technical merits, is more likely than not to be sustained upon examination and step two (measurement) is only addressed if step one has been satisfied (i.e., the position is more likely than not to be sustained). Under step two, the tax benefit is measured as the largest amount of benefit (determined on a cumulative probability basis) that is more likely than not to be realized upon ultimate settlement. The Company will recognize tax penalties relating to unrecognized tax benefits as additional tax expense. Foreign Currency Certain of the Company's subsidiaries’ functional currencies are the local currencies of their respective foreign jurisdictions. The Company translates the results of operations of its foreign subsidiaries into U.S. dollars using average rates of exchange in effect during the period presented, and it translates balance sheet accounts using exchange rates in effect at the end of the period presented. The Company records resulting currency translation adjustments in accumulated other comprehensive income (loss), a component of stockholders’ equity, on its consolidated balance sheets, and it records foreign currency transaction gains and losses as a component of interest and other income on its consolidated statements of income. Derivative Instruments The Company uses certain types of derivative instruments for the purpose of managing interest rate and currency risk. To qualify for hedge accounting, derivative instruments used for risk management purposes must effectively reduce the risk exposure that they are designed to hedge. In addition, at inception, the Company must make an assessment that the transaction that the Company intends to hedge is probable of occurring, and this assessment must be updated each reporting period. The Company recognizes all derivative instruments as assets or liabilities on the consolidated balance sheets at their fair value. For derivatives designated and qualified as a hedge, the change in fair value of the effective portion of the derivatives is recognized in accumulated other comprehensive income (loss), whereas the change in fair value of the ineffective portion is recognized in earnings. Changes in the fair value of derivative instruments that are not designated in hedging relationships or that do not meet the criteria for hedge accounting would be recognized in earnings. As of December 31, 2017 , all of the Company’s derivative instruments met the criteria for hedge accounting. The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objectives and strategy for undertaking various hedge transactions. This process includes designating all derivatives that are part of a hedging relationship to specific transactions as well as recognizing obligations or assets on the consolidated balance sheets. The Company also assesses and documents, both at inception of the hedging relationship and on a quarterly basis thereafter, whether the derivatives are highly effective in offsetting the designated risks associated with the respective hedged items. If it is determined that a derivative ceases to be highly effective as a hedge, or that it is probable the underlying transaction will not occur, the Company would discontinue hedge accounting prospectively and record the appropriate adjustment to earnings based on the then-current fair value of the derivative. Fair Value Measurements Under GAAP, the Company is required to measure certain financial instruments at fair value on a recurring basis. In addition, the Company is required to measure other financial instruments and balances at fair value on a non-recurring basis (e.g., carrying value of impaired loans receivable and long-lived assets). Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The GAAP fair value framework uses a three-tiered approach. Fair value measurements are classified and disclosed in one of th

CCP MERGER AND RECENT REAL ESTA

CCP MERGER AND RECENT REAL ESTATE ACQUISITIONS	12 Months Ended
	Dec. 31, 2017
Business Combinations [Abstract]
CCP MERGER AND RECENT REAL ESTATE ACQUISITIONS	CCP MERGER AND RECENT REAL ESTATE ACQUISITIONS CCP Merger On August 17, 2017, the Company completed the CCP Merger. Under the terms of the Merger Agreement, each share of CCP common stock issued and outstanding immediately prior to the effective time of the CCP Merger (other than any shares owned directly by CCP, the Company or their respective subsidiaries, in each case not held on behalf of third parties) was converted into the right to receive 1.123 newly issued shares of Company common stock, resulting in the issuance of approximately 94.0 million shares of Company common stock at the effective time of the CCP Merger. As a result of the CCP Merger, the Company acquired 330 properties (consisting of 296 skilled nursing/transitional care facilities, 13 senior housing communities and 21 specialty hospitals and other facilities), one skilled nursing/transitional care facility leased to an operator under a direct financing lease (see Note 2, “Summary of Significant Accounting Policies—Net Investment in Direct Financing Lease”), 18 investments in loans receivable (see Note 7, “Loans Receivable and Other Investments”) and one specialty valuation firm. Sabra also assumed certain outstanding equity awards and other debt and liabilities of CCP (see Note 8, “Debt”). Based on the closing price of Sabra’s common stock on August 16, 2017, the Company estimates the fair value of the consideration exchanged or assumed to be approximately $2.1 billion . As of December 31, 2017, the Company updated the purchase price allocation for the CCP Merger from the provisional amounts reported as of September 30, 2017. The adjustments made during the three months ended December 31, 2017 to the fair value of acquired assets and liabilities assumed did not have a significant impact on the Company’s consolidated statements of income for the three months ended December 31, 2017. The following table summarizes the purchase price allocation for the CCP Merger based on the Company's initial valuation, including estimates and assumptions of the acquisition date fair value of the tangible and intangible assets acquired and liabilities assumed on August 17, 2017 (in thousands): Real estate investments $ 3,727,310 Loans receivable and other investments 58,244 Cash and cash equivalents 77,859 Restricted cash 779 Lease intangible assets, net 145,786 Accounts receivable, prepaid expenses and other assets, net 35,873 Secured debt, net (98,500 ) Revolving credit facility (362,000 ) Unsecured term loans (674,000 ) Senior unsecured notes, net (616,873 ) Accounts payable and accrued liabilities (134,802 ) Lease intangible liabilities, net (102,643 ) Noncontrolling interests (4,455 ) Total consideration $ 2,052,578 The lease intangible assets and lease intangible liabilities acquired in connection with the CCP Merger have weighted-average amortization periods as of the closing date of the CCP Merger of 10 years . For the year ended December 31, 2017 , the Company recognized $135.4 million of total revenues and $87.0 million of net income attributable to common stockholders, excluding merger and acquisition costs, from the CCP Merger investments. Merger and acquisition costs associated with the CCP Merger were $30.2 million during the year ended December 31, 2017 . Recent Real Estate Acquisitions During the year ended December 31, 2017 , in addition to the properties acquired as a result of the CCP Merger, the Company acquired 22 skilled nursing/transitional care facilities and two senior housing communities. During the year ended December 31, 2016 , the Company acquired one skilled nursing/transitional care facility and six senior housing communities. The consideration was allocated as follows (in thousands): Year Ended December 31, 2017 2016 Land $ 58,771 $ 7,755 Building and improvements 359,310 143,027 Tenant origination and absorption costs intangible assets 6,684 2,202 Tenant relationship intangible assets 2,053 642 Total consideration $ 426,818 $ 153,626 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 dates of acquisition of 13 years and 23 years, respectively, for acquisitions completed during the year ended December 31, 2017 , and 15 years and 25 years, respectively, for acquisitions completed during the year ended December 31, 2016 . For the year ended December 31, 2017 , the Company recognized $10.6 million and $7.7 million of total revenues and net income attributable to common stockholders, respectively, from the properties acquired during the year ended December 31, 2017 . For the year ended December 31, 2016 , the Company recognized $4.6 million and $2.2 million of total revenues and net income attributable to common stockholders, respectively, from the properties acquired during the year ended December 31, 2016 . Net income attributable to common stockholders for the year ended December 31, 2016 includes expensed merger and acquisition costs of $1.1 million related to acquisitions accounted for as business combinations.

REAL ESTATE PROPERTIES HELD FOR

REAL ESTATE PROPERTIES HELD FOR INVESTMENT	12 Months Ended
	Dec. 31, 2017
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 December 31, 2017 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 384 43,223 $ 4,364,387 $ (209,039 ) $ 4,155,348 Senior Housing - Leased (1) 88 8,137 1,166,687 (102,370 ) 1,064,317 Senior Housing - Managed (1) 13 1,113 189,120 (12,125 ) 176,995 Specialty Hospitals and Other 22 1,085 614,068 (16,620 ) 597,448 507 53,558 6,334,262 (340,154 ) 5,994,108 Corporate Level 593 (269 ) 324 $ 6,334,855 $ (340,423 ) $ 5,994,432 As of December 31, 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 97 10,819 $ 1,042,754 $ (190,038 ) $ 852,716 Senior Housing - Leased (1) 83 7,855 1,153,739 (80,449 ) 1,073,290 Senior Housing - Managed (1) 2 134 34,212 (1,682 ) 32,530 Specialty Hospitals and Other 1 70 61,640 (10,387 ) 51,253 183 18,878 2,292,345 (282,556 ) 2,009,789 Corporate Level 406 (256 ) 150 $ 2,292,751 $ (282,812 ) $ 2,009,939 (1) During the year ended December 31, 2017, the Company transitioned nine senior housing communities into a managed property structure whereby the Company owns the operations of the communities and the communities are operated by a third-party property manager. December 31, 2017 December 31, 2016 Building and improvements $ 5,449,415 $ 1,983,769 Furniture and equipment 232,889 85,196 Land improvements 3,456 3,744 Land 649,095 220,042 6,334,855 2,292,751 Accumulated depreciation (340,423 ) (282,812 ) $ 5,994,432 $ 2,009,939 Contingent Consideration Arrangements In connection with three of its prior real estate acquisitions, the Company entered into contingent consideration arrangements pursuant to which it could be required to pay out additional amounts based on incremental value created through the improvement of operations of the applicable acquired facility (a contingent consideration liability). The estimated value of the contingent consideration liabilities at the time of purchase was $3.2 million . The contingent consideration amounts would be determined based on portfolio performance and the facility achieving certain performance hurdles during 2017. During the year ended December 31, 2017 , one earn-out arrangement expired and resulted in a $0 payout, and a second earn-out arrangement was terminated in connection with the transition of the eight senior housing communities to Senior Housing - Managed communities. To determine the value of the remaining contingent consideration arrangement, the Company used significant inputs not observable in the market. Based on the performance of this facility, the contingent consideration liability had a value of $0.4 million and was paid in November 2017. During the years ended December 31, 2017 and 2016 , the Company recorded decreases of $0.4 million and $1.5 million , respectively, to the contingent consideration arrangements. These amounts are included in other income on the accompanying consolidated statements of income. Operating Leases As of December 31, 2017 , the substantial majority of the Company’s real estate properties (excluding 13 Senior Housing - Managed communities) were leased under triple-net operating leases with expirations ranging from less than one year to 15 years. As of December 31, 2017 , 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. 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 on the accompanying consolidated balance sheets and totaled $20.3 million and $2.7 million as of December 31, 2017 and 2016 , respectively, and letters of credit deposited with the Company totaled $81.1 million and $21.3 million as of December 31, 2017 and 2016, respectively. In addition, our tenants have deposited with the Company $28.3 million for future real estate taxes, insurance expenditures and tenant improvements related to our properties and their operations. As of December 31, 2017 , the Company had a $3.2 million reserve for unpaid cash rents and a $12.4 million reserve associated with accumulated straight-line rental income. As of December 31, 2016 , the Company had a $3.2 million reserve for unpaid cash rents and a $3.7 million reserve associated with accumulated straight-line rental income. The following table provides information regarding significant tenant relationships representing 10% or more of the Company’s total revenues for the year ended December 31, 2017 (dollars in thousands): As of December 31, 2017 For the year ended December 31, 2017 Number of Investments % of Total Assets % of Total Investments (1) % of Total Revenues Genesis Healthcare, Inc. 54 3.5 % 5.9 % 19.8 % The Company has entered into memoranda of understanding with Genesis to market for sale up to all of its remaining Genesis facilities and to restructure its lease agreements with Genesis to increase the marketability of these facilities to potential buyers. The Company expects to complete the sale of 46 of its remaining 54 Genesis facilities in 2018 and retain eight facilities, although it cannot provide assurance that the sales will be completed in that timeframe, if at all. In addition, effective January 1, 2018, the annual base rent payable under the Genesis leases was reduced by $19.0 million pursuant to a lease restructuring agreement. 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 tenant’s ability to pay their rent obligations to the Company) is the tenant’s lease coverage ratio or the parent’s fixed charge coverage ratio for those entities with a parent guarantee. 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 tenant’s ability to generate sufficient liquidity to meet its obligations, including its obligation to continue to pay the rent due to the Company. As of December 31, 2017 , the future minimum rental payments from the Company’s properties held for investment under non-cancelable operating leases was as follows (in thousands): 2018 $ 559,864 2019 569,288 2020 560,252 2021 558,362 2022 552,610 Thereafter 2,928,902 $ 5,729,278

DISPOSITIONS

DISPOSITIONS	12 Months Ended
	Dec. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]
DISPOSITIONS	DISPOSITIONS 2017 Dispositions During the year ended December 31, 2017 , the Company completed the sale of 31 skilled nursing/transitional care facilities and one senior housing community for aggregate consideration, net of closing costs, of $150.2 million . The net carrying value of the assets and liabilities of these facilities was $98.2 million , which resulted in an aggregate $52.0 million net gain on sale. Excluding the net gain on sale, the Company recognized $12.6 million , $15.2 million and $15.6 million of net income during the years ended December 31, 2017 , 2016 and 2015 , respectively, from these facilities. The sale of these facilities does not represent a strategic shift that has or will 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. 2016 Dispositions During the year ended December 31, 2016 , the Company completed the sale of four skilled nursing/transitional care facilities, one acute care hospital, and one parcel of land for aggregate consideration, net of closing costs, of $98.0 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 $104.1 million , resulting in an aggregate $6.1 million loss on sale. Excluding the net loss on sale and real estate impairment, the Company recognized $0.7 million of net income and $2.3 million of net loss during the years ended December 31, 2016 and 2015 , respectively, from these facilities. The sale of these facilities does not represent a strategic shift that has or will 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.

INTANGIBLE ASSETS AND LIABILITI

INTANGIBLE ASSETS AND LIABILITIES	12 Months Ended
	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND LIABILITIES	INTANGIBLE ASSETS AND LIABILITIES The following table summarizes the Company’s intangible assets and liabilities as of December 31, 2017 and 2016 (in thousands): December 31, 2017 2016 Lease Intangible Assets: Above market leases $ 76,443 $ — Tenant origination and absorption costs 76,336 23,987 Tenant relationship 27,436 7,430 Gross lease intangible assets 180,215 31,417 Accumulated amortization (13,096 ) (5,167 ) Lease intangible assets, net $ 167,119 $ 26,250 Lease Intangible Liabilities: Below market leases $ 102,643 $ — Accumulated amortization (4,628 ) — Lease intangible liabilities, net $ 98,015 $ — The following is a summary of real estate intangible amortization income (expense) for the years ended December 31, 2017 , 2016 and 2015 (in thousands): Year Ended December 31, 2017 2016 2015 Increase to rental income related to above/below market leases, net $ 912 $ — $ — Depreciation and amortization related to tenant origination and absorption costs and tenant relationship (11,822 ) (3,182 ) (3,195 ) The remaining unamortized balance for these outstanding intangible assets and liabilities as of December 31, 2017 will be amortized for the years ending December 31 as follows (dollars in thousands): Lease Intangible Lease Intangible 2018 $ 21,814 $ 13,588 2019 21,612 13,588 2020 18,482 12,328 2021 16,619 8,119 2022 15,193 7,227 Thereafter 73,399 43,165 $ 167,119 $ 98,015 Weighted-average remaining amortization period 10.5 years 9.8 years

LOANS RECEIVABLE AND OTHER INVE

LOANS RECEIVABLE AND OTHER INVESTMENTS	12 Months Ended
	Dec. 31, 2017
REAL ESTATE LOANS RECEIVABLE [Abstract]
LOANS RECEIVABLE AND OTHER INVESTMENTS	LOANS RECEIVABLE AND OTHER INVESTMENTS As of December 31, 2017 and 2016 , the Company’s loans receivable and other investments consisted of the following (dollars in thousands): December 31, 2017 Investment Quantity Property Type Principal Balance as of December 31, 2017 (1) Book Value Book Value Weighted Average Contractual Interest Rate / Rate of Return Weighted Average Annualized Effective Interest Rate / Rate of Return Maturity Date Loans Receivable: Mortgage 2 Skilled Nursing / Senior Housing $ 13,366 $ 12,351 $ 38,262 9.9 % 11.3 % 12/31/18- 01/31/27 Construction 2 Senior Housing 2,667 2,733 842 8.0 % 7.7 % 03/31/21- 05/31/22 Mezzanine 2 Senior Housing 32,468 10,239 9,656 10.2 % 19.2 % 02/28/18- 05/25/20 Pre-development 1 Senior Housing 2,357 2,357 4,023 9.0 % 8.4 % 04/01/20 Other 15 Multiple 40,422 38,324 — 8.8 % 10.1 % 2/28/18- 04/30/27 Debtor-in-possession — Acute Care Hospital — — 813 N/A N/A N/A 22 91,280 66,004 53,596 9.4 % 11.6 % Loan loss reserve — (97 ) (2,750 ) $ 91,280 $ 65,907 $ 50,846 Other Investments: Preferred Equity 12 Skilled Nursing / Senior Housing 48,035 48,483 45,190 12.6 % 12.6 % N/A Total 34 $ 139,315 $ 114,390 $ 96,036 10.5 % 12.0 % (1) Principal balance includes amounts funded and accrued but unpaid interest/preferred return and excludes capitalizable fees. In connection with the CCP Merger, the Company acquired 18 loans receivable investments with a principal balance of $83.3 million and fair value of $58.2 million as of August 17, 2017. Of these loans, eight loans receivable investments with a principal balance of $36.3 million were considered to have deteriorated credit quality, and based on the collateral or expected cash flows, the fair value was determined to be $11.3 million as of August 17, 2017. The accretable yield was $2.9 million and $2.7 million as of August 17, 2017 and December 31, 2017, respectively. The decrease was due to $0.2 million of accretion recorded in interest and other income during the year ended December 31, 2017. As of December 31, 2017, the book value of these loans was $10.0 million . During the year ended December 31, 2017 , the Company recorded a provision for loan losses of $4.8 million related to two loans receivable investments, both of which were repaid as of December 31, 2017, and reduced its portfolio-based loan loss reserve by $0.3 million . As of December 31, 2017 , the Company had no specific loan loss reserve and had a $0.1 million portfolio-based loan loss reserve. As of December 31, 2017 , the Company did not consider any loans receivable investments to be impaired, and one loan receivable with a book value of $0 was on nonaccrual status. During the year ended December 31, 2016 , the Company recorded a provision for loan losses of $3.1 million related to four loans receivable investments during the year ended December 31, 2016 , one of which was partially repaid prior to December 31, 2016 through the foreclosure of the real estate asset, and reduced its portfolio-based loan loss reserve by $1.3 million during the year ended December 31, 2016 . The Company’s specific loan loss reserve was $2.3 million and the portfolio-based loan loss reserve was $0.4 million as of December 31, 2016 . As of December 31, 2016 , the Company considered three loans receivable investments with an aggregate principal balance of $17.4 million to be impaired.

DEBT

DEBT	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
DEBT	DEBT Secured Indebtedness The Company’s secured debt consists of the following (dollars in thousands): Interest Rate Type Principal as of (1) Principal as of (1) Weighted Average Effective Interest Rate at (2) Maturity Date Fixed Rate $ 160,702 $ 163,638 3.87 % December 2021 - Variable Rate 98,500 — 3.36 % July 2019 $ 259,202 $ 163,638 3.68 % (1) Principal balance does not include deferred financing costs, net of $2.8 million and $2.9 million as of December 31, 2017 and 2016 , respectively. (2) Weighted average effective interest rate includes private mortgage insurance. On August 17, 2017, in connection with the CCP Merger (see Note 3, “CCP Merger and Recent Real Estate Acquisitions”), the Company assumed a $98.5 million variable rate secured term loan that bears interest at LIBOR plus 1.80% and matures in July 2019 . Senior Unsecured Notes The Company’s senior unsecured notes consist of the following (dollars in thousands): Principal Balance as of December 31, Title Maturity Date 2017 (1) 2016 (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 5.125% senior unsecured notes due 2026 (“2026 Notes”) August 15, 2026 500,000 — 5.38% senior unsecured notes due 2027 (“2027 Notes”) May 17, 2027 100,000 — $ 1,300,000 $ 700,000 (1) Principal balance does not include premium, net of $15.9 million and deferred financing costs, net of $9.6 million as of December 31, 2017 and does not include discount, net of $0.5 million and deferred financing costs, net of $11.2 million as of December 31, 2016 . 5.5% Notes Due 2021 . On January 23, 2014, the Operating Partnership and Sabra Capital Corporation, wholly owned subsidiaries of the Company (the “Issuers”), issued $350.0 million aggregate principal amount of 5.5% senior unsecured notes due 2021 (the “Original 2021 Notes”), and on October 10, 2014, they issued $150.0 million aggregate principal amount of 5.5% senior unsecured notes due 2021, which are treated as a single class with, and have the same terms as, the Original 2021 Notes (the additional notes and the Original 2021 Notes, together, the “2021 Notes”). The 2021 Notes accrue interest at a rate of 5.5% per annum payable semiannually on February 1 and August 1 of each year. The 2021 Notes are redeemable at the option of the Issuers, in whole or in part, at any time, and from time to time, on or after February 1, 2017, at the redemption prices set forth in the indenture governing the 2021 Notes, plus accrued and unpaid interest to the applicable redemption date. Assuming the 2021 Notes are not redeemed, the 2021 Notes mature on February 1, 2021. 5.375% Notes Due 2023. On May 23, 2013, the Issuers issued $200.0 million aggregate principal amount of 5.375% senior unsecured notes due 2023 (the “2023 Notes”). 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 2023 Notes are redeemable at the option of the Issuers, in whole or in part, at any time, and from time to time, on or after June 1, 2018, at the redemption prices set forth in the indenture governing the 2023 Notes, plus accrued and unpaid interest to the applicable redemption date. In addition, prior to June 1, 2018, the Issuers may redeem all or a portion of the 2023 Notes at a redemption price equal to 100% of the principal amount of the 2023 Notes redeemed, plus a “make-whole” premium, plus accrued and unpaid interest to the applicable redemption date. Assuming the 2023 Notes are not redeemed, the 2023 Notes mature on June 1, 2023. 5.125% Notes Due 2026 . In connection with the CCP Merger, on August 17, 2017, the Operating Partnership assumed $500.0 million aggregate principal amount of 5.125% senior unsecured notes due 2026 (the “2026 Notes”) issued by Care Capital Properties, LP in July 2016 (see Note 3, “CCP Merger and Recent Real Estate Acquisitions”). The 2026 Notes accrue interest at a rate of 5.125% per annum payable semiannually on February 15 and August 15 of each year. The Operating Partnership may, at its option, redeem the 2026 Notes at any time in whole or from time to time in part prior to their stated maturity. The redemption price for 2026 Notes that are redeemed will be equal to (i) 100% of their principal amount, together with accrued and unpaid interest thereon, if any, to (but excluding) the date of redemption, plus, (ii) if redeemed prior to May 15, 2026, a make-whole premium. Assuming the 2026 Notes are not redeemed, the 2026 Notes mature on August 15, 2026. 5.38% Notes Due 2027 . In connection with the CCP Merger, on August 17, 2017, the Operating Partnership assumed $100.0 million aggregate principal amount of unregistered 5.38% senior unsecured notes due 2027 (the “2027 Notes”) issued by Care Capital Properties, LP in May 2016 (see Note 3, “CCP Merger and Recent Real Estate Acquisitions”). The 2027 Notes accrue interest at a rate of 5.38% per annum payable semiannually on May 17 and November 17 of each year. The Operating Partnership may prepay the 2027 Notes, in whole at any time or in part from time to time, at 100% of the principal amount to be prepaid plus a make-whole premium. Assuming the 2027 Notes are not redeemed, the 2027 Notes mature on May 17, 2027. The obligations under the 2021 Notes, 2023 Notes and 2027 Notes are fully and unconditionally guaranteed, jointly and severally, on an unsecured basis, by Sabra and certain subsidiaries of Sabra; provided, however, that such guarantees are subject to release under certain customary circumstances. The obligations under the 2026 Notes are fully and unconditionally guaranteed, on an unsecured basis, by Sabra; provided, however, that such guarantee is subject to release under certain customary circumstances. See Note 15, “Summarized 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 indenture governing the 2021 Notes and 2023 Notes contains restrictive covenants that, among other things, restrict the ability of Sabra, the Issuers and their restricted subsidiaries to: (i) incur or guarantee additional indebtedness; (ii) incur or guarantee secured indebtedness; (iii) pay dividends or distributions on, or redeem or repurchase, their capital stock; (iv) make certain investments or other restricted payments; (v) sell assets; (vi) create liens on their assets; (vii) enter into transactions with affiliates; (viii) merge or consolidate or sell all or substantially all of their assets; and (ix) create restrictions on the ability of Sabra’s restricted subsidiaries to pay dividends or other amounts to Sabra. Such limitations on distributions also include a limitation on the extent of allowable cumulative distributions made, which shall not exceed the greater of (a) the sum of (x) 95% of cumulative Adjusted Funds from Operations and (y) the net proceeds from the issuance of common and preferred equity and (b) the minimum amount of distributions required for the Company to maintain its REIT status. The indenture governing the 2021 Notes and 2023 Notes also provides for customary events of default, including, but not limited to, the failure to make payments of interest or premium, if any, on, or principal of, the 2021 Notes and 2023 Notes, the failure to comply with certain covenants and agreements specified in the indenture for a period of time after notice has been provided, the acceleration of other indebtedness resulting from the failure to pay principal on such other indebtedness prior to its maturity, and certain events of insolvency. If any event of default occurs, the principal of, premium, if any, and accrued interest on all the then-outstanding 2021 Notes and 2023 Notes may become due and payable immediately. The indenture governing the 2021 Notes and 2023 Notes requires us to maintain Total Unencumbered Assets (as defined in the indenture) of at least 150% of our unsecured indebtedness. The indenture governing the 2026 Notes contains certain covenants that, among other things, limits the ability of Sabra, the Issuer and our subsidiaries to: (i) consummate a merger, consolidate or sell all or substantially all of our consolidated assets and (ii) incur secured or unsecured indebtedness. In addition, we are required to maintain at all times consolidated unencumbered total asset value in an amount not less than 150% of the aggregate outstanding principal amount of our consolidated unsecured debt. The agreement governing the 2027 Notes provides for customary events of default, including, but not limited to, the failure to make payments of interest or premium, if any, on, or principal of, the 2027 Notes, the failure to comply with certain covenants and agreements specified in the agreement governing the 2027 Notes for a period of time after notice has been provided, the acceleration of other indebtedness resulting from the failure to pay principal on such other indebtedness prior to its maturity, and certain events of insolvency. In addition, certain change of control events constitute an event of default under the agreement governing the 2027 Notes. If any event of default occurs, the principal of, premium, if any, and accrued interest on all the then-outstanding 2027 Notes may become due and payable immediately. The Company was in compliance with all applicable financial covenants under the indentures and agreements (the “Senior Notes Indentures”) governing the 2021 Notes, 2023 Notes, 2026 Notes and 2027 Notes (collectively, the “Senior Notes”) outstanding as of December 31, 2017 . Credit Facility 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 “Prior Credit Facility”). The Prior Credit Facility included a revolving credit facility (the “Prior Revolving Credit Facility”) and U.S. dollar and Canadian dollar term loans (collectively, the “Prior Term Loans”). The Prior Revolving Credit Facility provided for a borrowing capacity of $500.0 million and, in addition, provided for U.S. dollar and Canadian dollar term loans of $245.0 million and CAD $125.0 million , respectively. Further, up to $125.0 million of the Prior Revolving Credit Facility could be used for borrowings in certain foreign currencies. The Prior Credit Facility also contained an accordion feature that allowed for an increase in 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 9, “Derivative and Hedging Instruments,” for further information). The Prior Revolving Credit Facility had a maturity date of January 14, 2020, and included two six -month extension options. The Prior Term Loans had a maturity date of January 14, 2021. 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% (the “Base Rate”). The applicable percentage for borrowings varied based on the Consolidated Leverage Ratio, as defined in the credit agreement for the Prior Credit Facility, and ranged 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. In addition, the Operating Partnership paid an unused facility fee to the lenders equal to 0.25% or 0.30% per annum, which was determined by usage under the Prior Revolving Credit Facility. The Prior Term Loans bore interest as follows: the U.S. dollar term loan 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) the Base Rate (the applicable percentage varied based on the Consolidated Leverage Ratio, as defined in the credit agreement for the Prior Credit Facility, and ranged 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); and the Canadian dollar term loan bore interest on the outstanding principal amount at a rate equal to the Canadian Dollar Offered Rate (“CDOR”) plus 1.75% to 2.35% depending on the Consolidated Leverage Ratio. Effective on August 17, 2017, the Borrowers, Sabra and the other parties thereto entered into a fourth amended and restated unsecured credit facility (the “Credit Facility”). The Credit Facility amends and restates the Prior Credit Facility. The Company recognized a $0.6 million loss on extinguishment of debt related to write-offs of deferred financing costs in connection with amending and restating the Prior Credit Facility during the year ended December 31, 2017 . The Credit Facility includes a $1.0 billion revolving credit facility (the “Revolving Credit Facility”), $1.1 billion in U.S. dollar term loans and a CAD $125.0 million Canadian dollar term loan (collectively, the “Term Loans”). Further, up to $175.0 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 $2.5 billion , subject to terms and conditions. The Revolving Credit Facility has a maturity date of August 17, 2021, and includes two six -month extension options. $200 million of the U.S. dollar Term Loans has a maturity date of August 17, 2020, and the other Term Loans have a maturity date of August 17, 2022. As of December 31, 2017 , there was $641.0 million outstanding under the Revolving Credit Facility and $359.0 million available for borrowing. Borrowings under the Revolving Credit Facility bear interest on the outstanding principal amount at a rate equal to an applicable interest margin plus, at the Operating Partnership’s option, either (a) LIBOR or (b) the Base Rate. On August 17, 2017, Sabra’s ratings met the Investment Grade Ratings Criteria (as defined in the credit agreement), and Sabra elected to use the ratings-based applicable interest margin for borrowings which will vary based on the Debt Ratings, as defined in the credit agreement, and will range from 0.875% to 1.65% per annum for LIBOR based borrowings and 0.00% to 0.65% per annum for borrowings at the Base Rate. As of December 31, 2017 , the interest rate on the Revolving Credit Facility was 2.81% . In addition, the Operating Partnership pays a facility fee ranging between 0.125% and 0.300% per annum based on the aggregate amount of commitments under the Revolving Credit Facility regardless of amounts outstanding thereunder. The U.S. dollar Term Loans bear interest on the outstanding principal amount at a rate equal to an applicable interest margin plus, at the Operating Partnership’s option, either (a) LIBOR or (b) the Base Rate. The ratings-based applicable interest margin for borrowings will vary based on the Debt Ratings, as defined in the credit agreement, and will range from 0.90% to 1.90% per annum for LIBOR based borrowings and 0.00% to 0.90% 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 CDOR plus an interest margin that will range from 0.90% to 1.90% depending on the Debt Ratings. On June 10, 2015, the Company entered into an interest rate swap agreement to fix the CDOR portion of the interest rate for CAD $90.0 million of its Canadian dollar Term Loan at 1.59% . In addition, CAD $90.0 million of the Canadian dollar Term Loan was designated as a net investment hedge. On August 10, 2016, the Company entered into two interest rate swap agreements to fix the LIBOR portion of the interest rate for $245.0 million of its U.S. dollar Term Loans 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% . See Note 9, “Derivative and Hedging Instruments,” for further information. As a result of the CCP Merger (see Note 3, “CCP Merger and Recent Real Estate Acquisitions”), the Company assumed eight interest rate swap agreements that fix the LIBOR portion of the interest rate for $600 million of the Company’s U.S. dollar Term Loans at a weighted average rate of 1.31% . See Note 9, “Derivative and Hedging Instruments,” for further information. 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 December 31, 2017 , the Company was in compliance with all applicable financial covenants under the Credit Facility. Interest Expense During the years ended December 31, 2017 , 2016 and 2015 , the Company incurred interest expense of $88.4 million , $ 64.9 million and $59.2 million , respectively. Interest expense includes non-cash interest expense of $7.8 million , $5.7 million and $5.3 million for the years ended December 31, 2017 , 2016 and 2015 , respectively. As of December 31, 2017 and 2016 , the Company had $ 24.7 million and $ 13.8 million , respectively, of accrued interest included in accounts payable and accrued liabilities on the accompanying consolidated balance sheets. Maturities The following is a schedule of maturities for the Company’s outstanding debt as of December 31, 2017 (in thousands): Secured Indebtedness Revolving Credit Facility (1) Term Loans Senior Notes Total 2018 $ 4,301 $ — $ — $ — $ 4,301 2019 102,945 — — — 102,945 2020 4,594 — 200,000 — 204,594 2021 20,482 641,000 — 500,000 1,161,482 2022 4,285 — 999,587 — 1,003,872 Thereafter 122,595 — — 800,000 922,595 Total Debt 259,202 641,000 1,199,587 1,300,000 3,399,789 Premium, net — — — 15,915 15,915 Deferred financing costs, net (2,772 ) — (8,813 ) (9,629 ) (21,214 ) Total Debt, Net $ 256,430 $ 641,000 $ 1,190,774 $ 1,306,286 $ 3,394,490 (1) Revolving Credit Facility is subject to two six -month extension options.

DERIVATIVE AND HEDGING INSTRUME

DERIVATIVE AND HEDGING INSTRUMENTS	12 Months Ended
	Dec. 31, 2017
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 as part of its interest rate risk management strategy. Approximately $1.1 million of losses, which are included in accumulated other comprehensive loss, as of December 31, 2017 , are expected to be reclassified into earnings in the next 12 months. During the year ended December 31, 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): December 31, 2017 December 31, 2016 Derivatives designated as cash flow hedges: Denominated in U.S. Dollars $ 845,000 $ 245,000 Denominated in Canadian Dollars $ 125,000 $ 125,000 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 $ 125,000 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 December 31, 2017 and 2016 (dollars in thousands): Count as of December 31, 2017 Fair Value Maturity Dates December 31, Type Designation 2017 2016 Balance Sheet Location Assets: Interest rate swap Cash Flow 12 $ 25,221 $ 8,083 2020 - 2023 Accounts receivable, prepaid expenses and other assets, net Cross currency interest rate swaps Net Investment 2 674 3,157 2025 Accounts receivable, prepaid expenses and other assets, net $ 25,895 $ 11,240 Liabilities: Interest rate swap Cash Flow — $ — $ 716 2020 Accounts payable and accrued liabilities CAD term loan Net Investment 1 99,588 93,000 2022 Term loans, net $ 99,588 $ 93,716 The following presents the effect of the Company’s derivative and financial instruments designated as hedging instruments on the consolidated statements of income and the consolidated statements of equity for years ended December 31, 2017 , 2016 and 2015 : Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion) Gain (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income (Effective Portion) Income Statement Location For the year ended December 31, 2017 2016 2015 2017 2016 2015 Cash Flow Hedges: Interest rate products $ 10,807 $ 5,879 $ (4,764 ) $ (2,174 ) $ (1,360 ) $ (319 ) Interest expense Net Investment Hedges: Foreign currency products (2,378 ) (2,085 ) 5,476 — — — N/A CAD term loan (6,588 ) (3,750 ) (8,352 ) — — — N/A $ 1,841 $ 44 $ (7,640 ) $ (2,174 ) $ (1,360 ) $ (319 ) During the year ended December 31, 2017 , the Company determined that a portion of a cash flow hedge was ineffective and recognized $22,000 of unrealized gains related to its interest rate swaps to other income on the consolidated statements of income. During the year ended December 31, 2016 , the Company determined that a portion of a cash flow hedge was ineffective and recognized $0.8 million of unrealized gains related to its interest rate swaps to other income on the consolidated statements of income. During the year ended December 31, 2015 , the Company recorded no hedge ineffectiveness in earnings. Derivatives Not Designated as Hedging Instruments During the year ended December 31, 2017 , the Company recorded $8,000 of other expense related to a cross currency interest rate swap not designated as a hedging instrument. As of December 31, 2017 and 2016 , the Company’s derivatives were all designated as hedging instruments. 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 December 31, 2017 and 2016 (in thousands): As of December 31, 2017 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 $ 25,895 $ — $ 25,895 $ — $ — $ 25,895 Offsetting Liabilities: Derivatives $ — $ — $ — $ — $ — $ — As of December 31, 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 $ 11,240 $ — $ 11,240 $ (716 ) $ — $ 10,524 Offsetting Liabilities: Derivatives $ 716 $ — $ 716 $ (716 ) $ — $ — Credit-risk-related Contingent Features The Company has agreements with each of its derivative counterparties that contain a provision pursuant to which the Company could be declared in default on the derivative obligation if the Company defaults on any of its indebtedness, including a default where repayment of the indebtedness has not been accelerated by the lender. As of December 31, 2017 , the Company had no derivatives with a fair value in a net liability position.

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	12 Months Ended
	Dec. 31, 2017
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 on the accompanying consolidated balance sheets at their amortized cost and not at fair value. The fair values of the loans receivable were estimated using an internal valuation model that considered the expected cash flows for the loans receivable, as well as the underlying collateral value and other credit enhancements as applicable. As such, the Company classifies these instruments as Level 3. Preferred equity investments : These instruments are presented on the accompanying consolidated balance sheets at their cost and not at fair value. The fair values 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 consolidated balance sheets. The Company estimates the fair value of derivative instruments, including its interest rate swaps and cross currency swaps, using the assistance of a third party using inputs that are observable in the market, which include 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 on the accompanying 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. Secured indebtedness : These instruments are presented on the accompanying 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 secured debt 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 December 31, 2017 and 2016 whose carrying amounts do not approximate their fair value (in thousands): December 31, 2017 December 31, 2016 Face (1) Carrying (2) Fair Face (1) Carrying (2) Fair Financial assets: Loans receivable $ 91,280 $ 65,907 $ 65,892 $ 53,484 $ 50,846 $ 51,914 Preferred equity investments 48,035 48,483 47,064 44,882 45,190 48,332 Financial liabilities: Senior Notes 1,300,000 1,306,286 1,329,191 700,000 688,246 709,500 Secured indebtedness 259,202 256,430 246,461 163,638 160,752 150,091 (1) Face value represents amounts contractually due under the terms of the respective agreements. (2) Carrying amount represents the book value of financial instruments, including unamortized premiums/discounts and deferred financing costs. The Company determined the fair value of financial instruments as of December 31, 2017 whose carrying amounts do not approximate their fair value with valuation methods utilizing the following types of inputs (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Financial assets: Loans receivable $ 65,892 $ — $ — $ 65,892 Preferred equity investments 47,064 — — 47,064 Financial liabilities: Senior Notes 1,329,191 — 1,329,191 — Secured indebtedness 246,461 — — 246,461 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 year ended December 31, 2017 , the Company recorded the following amounts measured at fair value (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Recurring Basis: Financial assets: Interest rate swap $ 25,221 $ — $ 25,221 $ — Cross currency swap 674 — 674 — The Company entered into contingent consideration arrangements that were outstanding during the year ended December 31, 2017 in connection with three acquisitions of real estate (see Note 4, “Real Estate Properties Held for Investment”). During the year ended December 31, 2017 , one earn-out arrangement expired and resulted in a $0 payout, and a second earn-out arrangement was terminated in connection with the transition of the eight senior housing communities to Senior Housing - Managed communities. In order to determine the fair value of the Company’s remaining contingent consideration arrangement, the Company used significant inputs not observable in the market to calculate the contingent consideration. The Company used financial information provided by the facility to calculate the contingent consideration liability of $0.4 million , which was paid in November 2017. The following reconciliation provides the details of activity for the 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 (1,876 ) Foreign currency translation (6 ) Balance as of December 31, 2016 $ 818 Decrease in contingent consideration liability (426 ) Payment of contingent consideration liability (382 ) Foreign currency translation (10 ) Balance as of December 31, 2017 $ — The following reconciliation provides the details of activity for the 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 December 31, 2016 $ — Corresponding amounts equal to the decreases in the contingent consideration liability and contingent consideration asset are included in other income on the accompanying consolidated statements of income for the years ended December 31, 2017 and 2016 as applicable.

EQUITY

EQUITY	12 Months Ended
	Dec. 31, 2017
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 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 December 31, 2017 , 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 (which did not include the CCP Merger), 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 As a result of the CCP Merger completed on August 17, 2017, the Company issued approximately 94.0 million shares of its common stock in exchange for shares of CCP common stock and shares underlying share-based awards assumed by the Company outstanding as of the effective time of the CCP Merger. On September 28, 2017, the Company completed an underwritten public offering of 16.0 million newly issued shares of its common stock pursuant to an effective registration statement. The underwriters exercised their option to purchase additional shares, and on October 2, 2017, the Company issued an additional 2.4 million newly issued shares of its common stock pursuant to an effective registration statement. The Company received net proceeds, before expenses, of $370.9 million from the offering, after giving effect to the issuance and sale of all 18.4 million shares of common stock, at a price of $21.00 per share. These proceeds were used to repay borrowings outstanding under the Revolving Credit Facility. Other Common Stock Issuances During the years ended December 31, 2017 and 2016 , the Company issued 0.3 million and 0.1 million of common stock units related to the vesting of employees’ restricted stock units. Upon any payment of shares as a result of restricted stock unit vestings, the related tax withholding obligation will generally be satisfied by the Company, reducing the number of shares to be delivered by a number of shares necessary to satisfy the related applicable tax withholding obligation. During the years ended December 31, 2017 , 2016 and 2015 , the Company incurred $3.1 million, $1.5 million and $5.0 million , respectively, 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 Income (Loss) The following is a summary of the Company’s accumulated other comprehensive income (loss) (in thousands): Year Ended December 31, 2017 2016 Foreign currency translation $ (2,913 ) $ (3,067 ) Unrealized gains on cash flow hedges 14,202 1,269 Total accumulated other comprehensive income (loss) $ 11,289 $ (1,798 )

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION All stock-based awards are subject to the terms of the 2009 Performance Incentive Plan, which was assumed by the Company effective as of November 15, 2010 in connection with the Company’s separation from Sun and was most recently amended and restated in April 2017. The 2009 Performance Incentive Plan provides for the granting of stock-based compensation, including stock options, time-based stock units, funds from operations-based stock units (“FFO Units”), relative total stockholder return-based stock units (“TSR Units”) and performance-based restricted stock units to officers, employees and directors in connection with their employment with or services provided to the Company. Stock Options In connection with the CCP Merger, the Company assumed stock options outstanding as of the effective time of the CCP Merger. As of December 31, 2017 , these stock options, totaling 1.7 million shares underlying the stock options with exercise prices ranging from $19.24 to $34.09 per share, remained outstanding, with 0.5 million exercisable through February 13, 2018 and 1.2 million exercisable through February 13, 2019. As of December 31, 2017 , the weighted average exercise price per share was $27.92 and the stock options had no intrinsic value. The Company had no stock options outstanding during the years ended December 31, 2016 and 2015 . Restricted Stock Units and Performance-Based Restricted Stock Units Under the 2009 Performance Incentive Plan, restricted stock units and performance-based restricted stock units generally have a contractual life or vest over a three - to five -year period. The vesting of certain restricted stock units may accelerate, as defined in the grant, upon retirement, a change in control and other events. When vested (and subject to any applicable deferral or holdback period), each performance-based restricted stock unit is convertible into one share of common stock, subject to any deferrals in issuance pursuant to the grant. The restricted stock units are valued on the grant date based on the market price of the Company’s common stock on that date. Generally, the Company recognizes the fair value of the awards over the applicable vesting period as compensation expense. In addition, since the shares to be issued may vary based on the performance of the Company, the Company must make assumptions regarding the projected performance criteria and the shares that will ultimately be issued. The amount of FFO Units that will ultimately vest is dependent on the amount by which the Company’s funds from operation (“FFO”) differs from a target FFO amount for a period specified in each grant and will range from 0% to 250% of the FFO Units initially granted. Similarly, the amount of TSR Units that will ultimately vest is dependent on the amount by which the total shareholder return (“TSR”) of the Company’s common stock differs from a predefined peer group for a period specified in each grant and will range from 0% to 200% of the TSR Units initially granted. Upon any payment of shares as a result of restricted stock unit vestings, the related tax withholding obligation will generally be satisfied by the Company, reducing the number of shares to be delivered by a number of shares necessary to satisfy the related applicable tax withholding obligation. The value of the shares withheld is dependent on the closing price of the Company’s common stock on the date the relevant transaction occurs. The following table summarizes additional information concerning restricted stock units at December 31, 2017 : Restricted Stock Units Weighted Average Grant Date Fair Value Per Unit Unvested as of December 31, 2016 903,967 $ 21.58 Granted 576,357 19.38 Vested (333,338 ) 25.30 Dividends reinvested 64,873 21.17 Cancelled/forfeited (86,372 ) 20.61 Unvested as of December 31, 2017 1,125,487 $ 19.71 As of December 31, 2017 , the weighted average remaining vesting period of restricted stock units was 2.7 years. The weighted average fair value per share at the date of grant for restricted stock units for the years ended December 31, 2017 , 2016 and 2015 was $19.38 , $22.05 and $21.11 , respectively. The total fair value of units vested during the years ended December 31, 2017 , 2016 and 2015 was $8.4 million , $4.7 million and $8.5 million , respectively. The fair value of the TSR Units is estimated on the date of grant using a Monte Carlo valuation model that uses the assumptions noted in the table below. The risk-free rate is based on the U.S. Treasury yield curve in effect at the grant date for the expected performance period. Expected volatility is based on historical volatility for the most recent 3 -year period ending on the grant date for the Company and the selected peer companies, and is calculated on a daily basis. The following are the key assumptions used in this valuation: 2017 2016 2015 Risk free interest rate 1.42% - 1.99% 0.78% - 1.60% 0.87% - 1.31% Expected stock price volatility 28.86% - 30.97% 27.40% - 28.42% 23.55% - 27.02% Expected service period 2.2 - 3.0 years 2.3 - 3.0 years 2.5 - 3.0 years Expected dividend yield (assuming full reinvestment) — % — % — % During the years ended December 31, 2017 , 2016 and 2015 , the Company recognized $7.0 million , $7.5 million and $6.1 million , respectively, of stock-based compensation expense included in general and administrative expense in the consolidated statements of income. During the year ended December 31, 2017 , the Company recognized $1.4 million of stock-based compensation expense related to former CCP employees included in merger and acquisition costs in the consolidated statements of income. As of December 31, 2017 , there was $15.2 million of total unrecognized stock-based compensation expense related to unvested awards, which is expected to be recognized over a weighted average period of 2.7 years. Employee Benefit Plan The Company maintains a 401(k) plan that allows for eligible participants to defer compensation, subject to certain limitations imposed by the Internal Revenue Code of 1986, as amended (the “Code”). The Company provides a discretionary matching contribution of up to 3% of each participant's eligible compensation. During the years ended December 31, 2017 , 2016 and 2015 , the Company’s matching contributions were approximately $143,000 , $73,000 and $35,000 , respectively.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company elected to be treated as a REIT with the filing of its U.S. federal income tax return for the taxable year beginning January 1, 2011. To qualify as a REIT, the Company must meet a number of organizational and operational requirements, including a requirement to distribute at least 90% of its taxable ordinary income. In addition, the Company is required to meet certain asset and income tests. As a REIT, the Company generally will not be subject to corporate level federal income tax on taxable income that it distributes to its stockholders. The Company also elected to treat certain of its consolidated subsidiaries as taxable REIT subsidiaries, which are subject to federal, state and foreign income taxes. The Company is subject to corporate income tax on built-in gains (the excess of fair market value over tax basis on properties held by Sabra as of the date Sabra elected to be taxed as a REIT, or January 1, 2011) on taxable dispositions of properties acquired in the Company’s separation from Sun occurring within a specified period (generally five years) following the election to be taxed as a REIT. This built-in gains tax is generally not payable on dispositions of property to the extent the proceeds from such dispositions are reinvested in qualifying like-kind replacement property as defined under various provisions of the Code. The Company does not expect to dispose of any properties held by Sabra at the Separation Date if such a disposition would result in the imposition of a material tax liability. Gains from asset dispositions occurring more than five years after the acquisition will not be subject to this corporate-level tax. As a result, the Company has not recorded a deferred tax liability associated with this corporate-level tax. As a result of acquisitions in Canada during 2015, the Company is subject to income taxes under the laws of Canada. The Company recorded a $1.3 million , $0.7 million and $0.7 million income tax benefit during the years ended December 31, 2017 , 2016 and 2015 , respectively, with respect to its Canadian operations. Due to uncertainty over the Company’s ability to utilize this income tax benefit in future periods, the Company recorded a valuation allowance of $1.2 million , $0.7 million and $0.7 million against the deferred tax benefit during the years ended December 31, 2017 , 2016 and 2015 , respectively. The following is a reconciliation of the Company’s beginning and ending unrecognized tax benefits (in thousands): Balance at December 31, 2015 $ 24,212 Additions (reductions) based on prior years’ tax positions (24,212 ) Additions (reductions) based on 2016 tax positions — Balance at December 31, 2016 $ — Additions (reductions) based on prior years’ tax positions — Additions (reductions) based on 2017 tax positions — Balance at December 31, 2017 $ — During the 2016 fiscal year, the full amount of unrecognized tax benefits was released due to the lapse of applicable statute of limitations. The balance of unrecognized tax benefits did not change in fiscal year 2017, and the Company does not anticipate that the balance of unrecognized tax benefits will change materially in fiscal year 2018. The Company classifies interest and penalties from significant uncertain tax positions as interest expense and operating expenses, respectively, in its consolidated financial statements. During the years ended December 31, 2017 , 2016 and 2015 , the Company did not incur any such interest or penalties. With certain exceptions, the tax year 2014 and thereafter remain open to examination by the major taxing jurisdictions with which the Company files tax returns.

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	12 Months Ended
	Dec. 31, 2017
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 (in thousands, except share and per share amounts): Year Ended December 31, 2017 2016 2015 Numerator Net income attributable to common stockholders $ 148,141 $ 60,034 $ 69,171 Denominator Basic weighted average common shares and common equivalents 105,621,242 65,284,251 62,235,014 Dilutive stock options and restricted stock units 221,192 236,421 225,225 Diluted weighted average common shares 105,842,434 65,520,672 62,460,239 Net income attributable to common stockholders, per: Basic common share $ 1.40 $ 0.92 $ 1.11 Diluted common share $ 1.40 $ 0.92 $ 1.11 During the years ended December 31, 2017 , 2016 and 2015 , approximately 132,000 , 128,000 and 76,000 restricted stock units, respectively, were not included in computing diluted earnings per share because they were considered anti-dilutive. No stock options were considered anti-dilutive during the year ended December 31, 2017 , and no stock options were outstanding during the years ended December 31, 2016 and 2015 .

SUMMARIZED CONSOLIDATING INFORM

SUMMARIZED CONSOLIDATING INFORMATION	12 Months Ended
	Dec. 31, 2017
Summarized Condensed Consolidating Information [Abstract]
SUMMARIZED CONSOLIDATING INFORMATION	SUMMARIZED CONSOLIDATING INFORMATION In connection with the offerings of the 2021 Notes and the 2023 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 2021 Notes and the 2023 Notes, subject to release under certain customary circumstances as described below. In connection with the assumption of the 2026 Notes as a result of the CCP Merger (see Note 3, “CCP Merger and Recent Real Estate Acquisitions”), the Company has fully and unconditionally guaranteed the 2026 Notes, subject to release under certain 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 2021 Notes and the 2023 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 2021 Notes or the 2023 Notes or another Guarantor, provided that the surviving entity remains a Guarantor; • A subsidiary Guarantor is declared “unrestricted” for covenant purposes under the indentures governing the 2021 Notes or the 2023 Notes; • The requirements for legal defeasance or covenant defeasance or to discharge the indentures governing the 2021 Notes or the 2023 Notes have been satisfied; • A liquidation or dissolution, to the extent permitted under the indentures governing the 2021 Notes or the 2023 Notes, of a subsidiary Guarantor; or • The release or discharge of the guaranty that resulted in the creation of the subsidiary guaranty, except a discharge or release by or as a result of payment under such guaranty. The Company will be automatically and unconditionally released from its obligations under the guarantees with respect to the 2026 Notes in the event of: • A liquidation or dissolution, to the extent permitted under the indenture governing the 2026 Notes; • A merger or consolidation, provided that the surviving entity remains a Guarantor; or • The requirements for legal defeasance or covenant defeasance or to discharge the indenture governing the 2026 Notes have been satisfied. Pursuant to Rule 3-10 of Regulation S-X, the following summarized consolidating information is provided for the Company (the “Parent Company”), the Operating Partnership, Sabra Capital Corporation, the Guarantors, and the Company’s non-Guarantor subsidiaries with respect to the 2021 Notes and the 2023 Notes. This summarized financial information has been prepared from the books and records maintained by the Company, the Operating Partnership, Sabra Capital Corporation, 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 Operating Partnership, Sabra Capital Corporation, 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 consolidating statement of cash flows. Consolidating financial statements for the Company and its subsidiaries, including the Parent Company only, the Operating Partnership only, Sabra Capital Corporation only, the combined Guarantor subsidiaries and the combined non-Guarantor subsidiaries, are as follows: CONSOLIDATING BALANCE SHEET December 31, 2017 (in thousands, except share and per share amounts) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating (2) Sabra Capital (3) Combined (4) Combined Non- (5) Elimination Consolidated Assets Real estate investments, net of accumulated depreciation $ 324 $ — $ — $ 1,756,933 $ 4,237,175 $ — $ 5,994,432 Loans receivable and other investments, net (97 ) — — 55,297 59,190 — 114,390 Cash and cash equivalents 511,670 — — 449 6,513 — 518,632 Restricted cash — — — 36,910 31,907 — 68,817 Lease intangible assets, net — — — 17,577 149,542 — 167,119 Accounts receivable, prepaid expenses and other assets, net 3,499 36,073 — 80,739 53,765 (5,189 ) 168,887 Intercompany 2,043,402 2,721,979 — — — (4,765,381 ) — Investment in subsidiaries 890,462 1,198,305 — 14,661 — (2,103,428 ) — Total assets $ 3,449,260 $ 3,956,357 $ — $ 1,962,566 $ 4,538,092 $ (6,873,998 ) $ 7,032,277 Liabilities Secured debt, net $ — $ — $ — $ — $ 256,430 $ — $ 256,430 Revolving credit facility — 641,000 — — — — 641,000 Term loans, net — 1,092,397 — 98,377 — — 1,190,774 Senior unsecured notes, net — 1,306,286 — — — — 1,306,286 Accounts payable and accrued liabilities 16,453 26,212 — 3,560 61,487 (5,189 ) 102,523 Lease intangible liabilities, net — — — — 98,015 — 98,015 Intercompany — — — 785,120 3,980,261 (4,765,381 ) — Total liabilities 16,453 3,065,895 — 887,057 4,396,193 (4,770,570 ) 3,595,028 Total Sabra Health Care REIT, Inc. stockholders’ equity 3,432,807 890,462 — 1,075,509 137,457 (2,103,428 ) 3,432,807 Noncontrolling interests — — — — 4,442 — 4,442 Total equity 3,432,807 890,462 — 1,075,509 141,899 (2,103,428 ) 3,437,249 Total liabilities and equity $ 3,449,260 $ 3,956,357 $ — $ 1,962,566 $ 4,538,092 $ (6,873,998 ) $ 7,032,277 (1) The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes. (4) The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes. CONSOLIDATING BALANCE SHEET December 31, 2016 (in thousands, except share and per share amounts) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating (2) Sabra Capital (3) Combined (4) Combined Non- (5) Elimination Consolidated Assets Real estate investments, net of accumulated depreciation $ 150 $ — $ — $ 1,860,850 $ 148,939 $ — $ 2,009,939 Loans receivable and other investments, net (410 ) — — 96,446 — — 96,036 Cash and cash equivalents 18,168 — — 2,675 4,820 — 25,663 Restricted cash — — — 57 8,945 — 9,002 Lease intangible assets, net — — — 25,489 761 — 26,250 Accounts receivable, prepaid expenses and other assets, net 2,859 18,023 — 70,812 9,244 (1,909 ) 99,029 Intercompany 368,281 687,493 — — 25,125 (1,080,899 ) — Investment in subsidiaries 640,238 907,136 — 12,364 — (1,559,738 ) — Total assets $ 1,029,286 $ 1,612,652 $ — $ 2,068,693 $ 197,834 $ (2,642,546 ) $ 2,265,919 Liabilities Secured debt, net $ — $ — $ — $ — $ 160,752 $ — $ 160,752 Revolving credit facility — 26,000 — — — — 26,000 Term loans, net — 243,626 — 92,047 — — 335,673 Senior unsecured notes, net — 688,246 — — — — 688,246 Accounts payable and accrued liabilities 13,712 14,542 — 11,606 1,688 (1,909 ) 39,639 Intercompany — — — 1,080,899 — (1,080,899 ) — Total liabilities 13,712 972,414 — 1,184,552 162,440 (1,082,808 ) 1,250,310 Total Sabra Health Care REIT, Inc. stockholders’ equity 1,015,574 640,238 — 884,141 35,359 (1,559,738 ) 1,015,574 Noncontrolling interests — — — — 35 — 35 Total equity 1,015,574 640,238 — 884,141 35,394 (1,559,738 ) 1,015,609 Total liabilities and equity $ 1,029,286 $ 1,612,652 $ — $ 2,068,693 $ 197,834 $ (2,642,546 ) $ 2,265,919 (1) The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes. (4) The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes. CONSOLIDATING STATEMENT OF INCOME For the Year Ended December 31, 2017 (in thousands, except share and per share amounts) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating (2) Sabra Capital (3) Combined (4) Combined Non- (5) Elimination Consolidated Revenues: Rental income $ — $ — $ — $ 213,162 $ 158,542 $ (7,513 ) $ 364,191 Interest and other income 39 143 — 9,098 5,907 (161 ) 15,026 Resident fees and services — — — — 26,430 — 26,430 Total revenues 39 143 — 222,260 190,879 (7,674 ) 405,647 Expenses: Depreciation and amortization 867 — — 67,723 45,292 — 113,882 Interest — 77,767 — 2,989 7,827 (143 ) 88,440 Operating expenses — — — — 25,391 (7,531 ) 17,860 General and administrative 24,810 65 — 3,854 3,672 — 32,401 Merger and acquisition costs 30,208 — — 47 — — 30,255 Provision for doubtful accounts and loan losses 227 — — 16,886 — — 17,113 Impairment of real estate — — — 1,326 — — 1,326 Total expenses 56,112 77,832 — 92,825 82,182 (7,674 ) 301,277 Other income (expense): Loss on extinguishment of debt — (422 ) — (131 ) — — (553 ) Other income (expense) 2,634 1,130 — (617 ) 23 — 3,170 Net (loss) gain on sales of real estate — — — 54,627 (2,598 ) — 52,029 Total other income (expense) 2,634 708 — 53,879 (2,575 ) — 54,646 Income in subsidiary 212,432 289,414 — 7,199 — (509,045 ) — Income before income tax expense 158,993 212,433 — 190,513 106,122 (509,045 ) 159,016 Income tax (expense) recovery (610 ) (1 ) — (139 ) 99 — (651 ) Net income 158,383 212,432 — 190,374 106,221 (509,045 ) 158,365 Net loss attributable to noncontrolling interests — — — — 18 — 18 Net income attributable to Sabra Health Care REIT, Inc. 158,383 212,432 — 190,374 106,239 (509,045 ) 158,383 Preferred stock dividends (10,242 ) — — — — — (10,242 ) Net income attributable to common stockholders $ 148,141 $ 212,432 $ — $ 190,374 $ 106,239 $ (509,045 ) $ 148,141 Net income attributable to common stockholders, per: Basic common share $ 1.40 Diluted common share $ 1.40 Weighted-average number of common shares outstanding, basic 105,621,242 Weighted-average number of common shares outstanding, diluted 105,842,434 (1) The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes. (4) The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes. CONSOLIDATING STATEMENT OF INCOME For the Year Ended December 31, 2016 (in thousands, except share and per share amounts) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating (2) Sabra Capital (3) Combined (4) Combined Non- (5) Elimination Consolidated Revenues: Rental income $ — $ — $ — $ 206,897 $ 20,706 $ (2,328 ) $ 225,275 Interest and other income 3 — — 27,712 1 (253 ) 27,463 Resident fees and services — — — — 7,788 — 7,788 Total revenues 3 — — 234,609 28,495 (2,581 ) 260,526 Expenses: Depreciation and amortization 816 — — 61,371 6,285 — 68,472 Interest — 54,589 — 3,497 6,787 — 64,873 Operating expenses — — — — 8,066 (2,363 ) 5,703 General and administrative 15,798 56 — 1,652 166 — 17,672 Merger and acquisition costs (7 ) — — 1,204 — — 1,197 Provision for doubtful accounts and loan losses (1,376 ) — — 6,498 421 — 5,543 Impairment of real estate — — — 29,811 — — 29,811 Total expenses 15,231 54,645 — 104,033 21,725 (2,363 ) 193,271 Other income (expense): Loss on extinguishment of debt — (468 ) — (88 ) — — (556 ) Other income (expense) 7,366 (196 ) — 3,507 — — 10,677 Net loss on sales of real estate — — — (6,143 ) 21 — (6,122 ) Total other income (expense) 7,366 (664 ) — (2,724 ) 21 — 3,999 Income in subsidiary 78,783 134,093 — 6,840 — (219,716 ) — Income before income tax expense 70,921 78,784 — 134,692 6,791 (219,934 ) 71,254 Income tax expense (427 ) (1 ) — (538 ) (83 ) — (1,049 ) Net income 70,494 78,783 — 134,154 6,708 (219,934 ) 70,205 Net loss attributable to noncontrolling interests — — — — 71 — 71 Net income attributable to Sabra Health Care REIT, Inc. 70,494 78,783 — 134,154 6,779 (219,934 ) 70,276 Preferred stock dividends (10,242 ) — — — — — (10,242 ) Net income attributable to common stockholders $ 60,252 $ 78,783 $ — $ 134,154 $ 6,779 $ (219,934 ) $ 60,034 Net income attributable to common stockholders, per: Basic common share $ 0.92 Diluted common share $ 0.92 Weighted-average number of common shares outstanding, basic 65,284,251 Weighted-average number of common shares outstanding, diluted 65,520,672 (1) The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes. (4) The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes. CONSOLIDATING STATEMENT OF INCOME For the Year Ended December 31, 2015 (in thousands, except share and per share amounts) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating (2) Sabra Capital (3) Combined (4) Combined Non- (5) Elimination Consolidated Revenues: Rental income $ — $ — $ — $ 190,582 $ 20,470 $ (1,201 ) $ 209,851 Interest and other income 2 334 — 25,472 1 (304 ) 25,505 Resident fee and services — — — — 3,508 — 3,508 Total revenues 2 334 — 216,054 23,979 (1,505 ) 238,864 Expenses: Depreciation and amortization 47 — — 57,141 5,891 — 63,079 Interest — 52,208 — 1,553 5,718 (261 ) 59,218 Operating expenses — — — — 3,789 (1,213 ) 2,576 General and administrative 14,485 29 — 1,411 168 — 16,093 Merger and acquisition costs (14 ) — — 6,868 169 — 7,023 Provision for doubtful accounts and write-offs 1,291 — — 11,551 — — 12,842 Total expenses 15,809 52,237 — 78,524 15,735 (1,474 ) 160,831 Other income (expense): Other income — 1,651 — 609 — — 2,260 Gain on sale of real estate — — — (161 ) — — (161 ) Total other income (expense) — 1,651 — 448 — — 2,099 Income in subsidiary 95,690 145,943 — 8,368 — (250,001 ) — Income before income tax expense 79,883 95,691 — 146,346 8,244 (250,032 ) 80,132 Income tax expense (439 ) (1 ) — (284 ) (25 ) — (749 ) Net income 79,444 95,690 — 146,062 8,219 (250,032 ) 79,383 Net loss attributable to noncontrolling interests — — — — 30 — 30 Net income attributable to Sabra Health Care REIT, Inc. 79,444 95,690 — 146,062 8,249 (250,032 ) 79,413 Preferred stock dividends (10,242 ) — — — — — (10,242 ) Net income attributable to common stockholders $ 69,202 $ 95,690 $ — $ 146,062 $ 8,249 $ (250,032 ) $ 69,171 Net income attributable to common stockholders, per: Basic common share $ 1.11 Diluted common share $ 1.11 Weighted-average number of common shares outstanding, basic 62,235,014 Weighted-average number of common shares outstanding, diluted 62,460,239 (1) The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes. (4) The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes. CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Year Ended December 31, 2017 (in thousands) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating (2) Sabra Capital (3) Combined (4) Combined Non- (5) Elimination Consolidated Net income $ 158,383 $ 212,432 $ — $ 190,374 $ 106,221 $ (509,045 ) $ 158,365 Other comprehensive income (loss): Unrealized gain (loss), net of tax: Foreign currency translation (loss) gain — (2,821 ) — 2,233 742 — 154 Unrealized gain (loss) on cash flow hedge — 13,078 — (145 ) — — 12,933 Total other comprehensive income — 10,257 — 2,088 742 — 13,087 Comprehensive income 158,383 222,689 — 192,462 106,963 (509,045 ) 171,452 Comprehensive loss attributable to noncontrolling interests — — — — 18 — 18 Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 158,383 $ 222,689 $ — $ 192,462 $ 106,981 $ (509,045 ) $ 171,470 (1) The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes. (4) The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes. CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Year Ended December 31, 2016 (in thousands) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating (2) Sabra Capital (3) Combined (4) Combined Non- (5) Elimination Consolidated Net income $ 70,494 $ 78,783 $ — $ 134,154 $ 6,708 $ (219,934 ) $ 70,205 Other comprehensive income (loss): Unrealized gain (loss), net of tax: Foreign currency translation gain (loss) — (2,080 ) — 364 82 — (1,634 ) Unrealized gain (loss) on cash flow hedge — 7,169 — — — — 7,169 Total other comprehensive income (loss) — 5,089 — 364 82 — 5,535 Comprehensive income 70,494 83,872 — 134,518 6,790 (219,934 ) 75,740 Comprehensive loss attributable to noncontrolling interests — — — — 71 — 71 Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 70,494 $ 83,872 $ — $ 134,518 $ 6,861 $ (219,934 ) $ 75,811 (1) The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes. (4) The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes. CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Year Ended December 31, 2015 (in thousands) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating (2) Sabra Capital (3) Combined (4) Combined Non- (5) Elimination Consolidated Net income $ 79,444 $ 95,690 $ — $ 146,062 $ 8,219 $ (250,032 ) $ 79,383 Other comprehensive income (loss): Unrealized gain (loss), net of tax: Foreign currency translation gain (loss) — 5,542 — (5,507 ) (1,468 ) — (1,433 ) Unrealized gain (loss) on cash flow hedges — (4,358 ) — — — — (4,358 ) Total other comprehensive income (loss) — 1,184 — (5,507 ) (1,468 ) — (5,791 ) Comprehensive income 79,444 96,874 — 140,555 6,751 (250,032 ) 73,592 Comprehensive loss attributable to noncontrolling interests — — — — 30 — 30 Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 79,444 $ 96,874 $ — $ 140,555 $ 6,781 $ (250,032 ) $ 73,622 (1) The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes. (4) The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes. CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2017 (in thousands) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating (2) Sabra Capital (3) Combined (4) Combined Non- (5) Elimination Consolidated Net cash provided by operating activities $ 59,640 $ — $ — $ 61,744 $ 12,102 $ — $ 133,486 Cash flows from investing activities: Acquisition of real estate — — — (419,905 ) — — (419,905 ) Cash received in CCP Merger 77,859 — — — — — 77,859 Origination and fundings of loans receivable — — — (1,799 ) (15,440 ) — (17,239 ) Origination and fundings of preferred equity investments — — — (2,749 ) — — (2,749 ) Additions to real estate (181 ) — — (2,339 ) (4,434 ) — (6,954 ) Repayment of loans receivable — — — 12,441 19,989 — 32,430 Repayment of preferred equity investments — — — 3,755 — — 3,755 Net proceeds from sale of real estate — — — 92,337 394 — 92,731 Distribution from subsidiaries 2,474 2,474 — — — (4,948 ) — Intercompany financing 168,999 (249,664 ) — — — 80,665 — Net cash provided by (used in) investing activities 249,151 (247,190 ) — (318,259 ) 509 75,717 (240,072 ) Cash flows from financing activities: Net repayments of revolving credit facility — 253,000 — — — — 253,000 Proceeds from term loans — 181,000 — — — — 181,000 Principal payments on secured debt — — — — (4,145 ) — (4,145 ) Payments of deferred financing costs — (15,337 ) — — — — (15,337 ) Payment of contingent consideration — — — (382 ) — — (382 ) Distribution to noncontrolling interest — — — — (30 ) — (30 ) Issuance of preferred stock — — — — — — — Issuance of common stock, net 366,800 — — — — — 366,800 Dividends paid on common and preferred stock (182,089 ) — — — — — (182,089 ) Distribution to parent — (2,474 ) — — (2,474 ) 4,948 — Intercompany financing — (168,999 ) — 254,608 (4,944 ) (80,665 ) — Net cash provided by (used in) financing activities 184,711 247,190 — 254,226 (11,593 ) (75,717 ) 598,817 Net increase (decrease) in cash and cash equivalents 493,502 — — (2,289 ) 1,018 — 492,231 Effect of foreign currency translation on cash and cash equivalents — — — 63 675 — 738 Cash and cash equivalents, beginning of period 18,168 — — 2,675 4,820 — 25,663 Cash and cash equivalents, end of period $ 511,670 $ — $ — $ 449 $ 6,513 $ — $ 518,632 (1) The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes. (4) The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes. CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2016 (in thousands) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating (2) Sabra Capital (3) Combined (4) Combined Non- (5) Elimination Consolidated Net cash provided by operating activities $ 153,577 $ — $ — $ 12,074 $ 11,088 $ — $ 176,739 Cash flows from investing activities: Acquisition of real estate — — — (153,579 ) — — (153,579 ) Origination and fundings of loans receivable — — — (9,675 ) — — (9,675 ) Origination and fundings of preferred equity investments — — — (7,348 ) — — (7,348 ) Additions to real estate (124 ) — — (502 ) (377 ) — (1,003 ) Repayment of loans receivable — — — 215,962 — — 215,962 Net proceeds from sale of real estate — — — 97,407 599 — 98,006 Investment in subsidiaries (200 ) (200 ) — — — 400 — Distribution from subsidiaries 6,404 6,404 — — — (12,808 ) — Intercompany financing (23,484 ) 165,842 — — — (142,358 ) — Net cash (used in) provided by investing activities (17,404 ) 172,046 — 142,265 222 (154,766 ) 142,363 Cash flows from financing activities: Net repayments of revolving credit facility — (229,000 ) — — — — (229,000 ) Proceeds from term loans — 45,000 — 24,360 — — 69,360 Principal payments on secured debt — — — (10,766 ) (4,002 ) — (14,768 ) Payments of deferred financing costs — (5,326 ) — (611 ) — — (5,937 ) Issuance of common stock, net (1,289 ) — — — — — (1,289 ) Dividends paid on common and preferred stock (119,264 ) — — — — — (119,264 ) Contribution from parent — 200 — — 200 (400 ) — Distribution to parent — (6,404 ) — — (6,404 ) 12,808 — Intercompany financing — 23,484 — (165,175 ) (667 ) 142,358 — Net cash (used in) provided by financing activities (120,553 ) (172,046 ) — (152,192 ) (10,873 ) 154,766 (300,898 ) Net increase in cash and cash equivalents 15,620 — — 2,147 437 — 18,204 Effect of foreign currency translation on cash and cash equivalents — — — 72 (47 ) — 25 Cash and cash equivalents, beginning of period 2,548 — — 456 4,430 — 7,434 Cash and cash equivalents, end of period $ 18,168 $ — $ — $ 2,675 $ 4,820 $ — $ 25,663 (1) The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes. (4) The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes. CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2015 (in thousands) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating (2) Sabra Capital (3) Combined (4) Combined Non- (5) Elimination Consolidated Net cash provided by operating activities $ 112,291 $ — $ — $ 820 $ 7,990 $ — $ 121,101 Cash flows from investing activities: Acquisition of real estate — — — (450,082 ) (11,248 ) — (461,330 ) Origination and fundings of loans receivable — — — (49,687 ) — — (49,687 ) Origination and fundings of preferred equity investments — — — (12,804 ) — — (12,804 ) Additions to real estate (34 ) — — (1,286 ) (2,369 ) — (3,689 ) Repayment of loans receivable — — — 5,803 — — 5,803 Release of contingent consideration held in escrow — — — 5,240 — — 5,240 Net proceeds from the sale of real estate — — — 27,241 — — 27,241 Investment in subsidiaries (414 ) (414 ) — — — 828 — Distribution from subsidiaries 3,515 3,515 — — — (7,030 ) — Intercompany financing (200,884 ) (387,652 ) — — — 588,536 — Net cash (used in) provided by investing activities (197,817 ) (384,551 ) — (475,575 ) (13,617 ) 582,334 (489,226 ) Cash flows from financing activities: Net proceeds from revolving credit facility — 187,000 — — — — 187,000 Proceeds from term loans — — — 73,242 — — 73,242 Proceeds from secured debt — — — — 28,735 — 28,735 Principal payments on secured debt — — — — (3,132 ) — (3,132 ) Payments of deferred financing costs — (232 ) — (740 ) (480 ) — (1,452 ) Contributions by noncontrolling interests — — — — 179 — 179 Issuance of common stock, net 139,403 — — — — — 139,403 Dividends paid on common and preferred stock (109,897 ) — — — — — (109,897 ) Contribution from parent — 414 — — 414 (828 ) — Distribution to parent — (3,515 ) — — (3,515 ) 7,030 — Intercompany financing — 200,884 — 402,745 (15,093 ) (588,536 ) — Net cash provided by (used in) financing activities 29,506 384,551 — 475,247 7,108 (582,334 ) 314,078 Net (decrease) increase in cash and cash equivalents (56,020 ) — — 492 1,481 — (54,047 ) Effect of foreign currency translation on cash and cash equivalents (231 ) — — (36 ) (45 ) — (312 ) Cash and cash equivalents, beginning of period 58,799 — — — 2,994 — 61,793 Cash and cash equivalents, end of period $ 2,548 $ — $ — $ 456 $ 4,430 $ — $ 7,434 (1) The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes. (4) The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes.

PRO FORMA FINANCIAL INFORMATION

PRO FORMA FINANCIAL INFORMATION (UNAUDITED)	12 Months Ended
	Dec. 31, 2017
Pro Forma Financial Information [Abstract]
PRO FORMA FINANCIAL INFORMATION (UNAUDITED)	PRO FORMA FINANCIAL INFORMATION (UNAUDITED) The following table summarizes, on an unaudited pro forma basis, the consolidated results of operations of the Company for the years ended December 31, 2017 and 2016 to give effect to the CCP Merger completed during the year ended December 31, 2017 and the acquisition of one skilled nursing/transitional care facility and three senior housing communities during the year ended December 31, 2016 . The following unaudited pro forma information has been prepared to give effect to the acquisitions completed during the years ended December 31, 2017 and 2016 as if these acquisitions occurred on January 1, 2016 and 2015 , respectively. 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, 2016 and 2015 , nor does it purport to predict the results of operations for future periods. Year Ended December 31, 2017 2016 (in thousands, except share and per share amounts) Revenues $ 631,041 $ 627,475 Net income attributable to common stockholders $ 292,551 $ 225,331 Net income attributable to common stockholders, per: Basic common share $ 1.78 $ 1.41 Diluted common share $ 1.78 $ 1.41 Weighted-average number of common shares outstanding, basic 164,361,139 159,319,612 Weighted-average number of common shares outstanding, diluted 164,582,331 159,556,033 Merger and acquisition costs of $30.2 million related to the CCP Merger completed during year the ended December 31, 2017 are reflected above as if they were incurred on January 1, 2016.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2017
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 December 31, 2017 , 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 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 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	12 Months Ended
	Dec. 31, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The Company evaluates subsequent events up until the date the consolidated financial statements are issued. Enlivant Joint Venture On January 2, 2018 , the Company completed its transaction with affiliates of Enlivant and TPG Real Estate, the real estate platform of TPG, to acquire a 49% equity interest in an entity that collectively owns 172 senior housing communities managed by Enlivant (the “Enlivant Joint Venture”). The Company contributed $352.7 million for the 49% noncontrolling interest, which implies an aggregate portfolio value for the Enlivant Joint Venture of $1.49 billion . The Enlivant Joint Venture has outstanding indebtedness of $791.3 million for the portfolio and net working capital of $22.9 million . The joint venture agreement includes an option for the Company to acquire the remaining majority interest in the Enlivant Joint Venture which terminates on January 2, 2021. Sabra's partner in the Enlivant Joint Venture has the option to transfer its interest commencing on January 2, 2020 subject to the Company's right of first offer. In addition, Sabra has the right to designate three directors on the seven member boards of directors of the Enlivant Joint Venture and has other customary minority rights. Additionally on January 2, 2018 , the Company acquired 11 senior housing communities that are operated by Enlivant pursuant to property management agreements for $138.3 million , which includes net working capital of $14.1 million . Dividend Declaration On February 5, 2018 , the Company announced that its board of directors declared a quarterly cash dividend of $0.45 per share of common stock. The dividend will be paid on February 28, 2018 to stockholders of record as of the close of business on February 15, 2018 . Also on February 5, 2018 , the Company 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 February 28, 2018 to stockholders of record as of the close of business on February 15, 2018 .

SCHEDULE II - VALUATION AND QUA

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2017
Valuation and Qualifying Accounts [Abstract]
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS For the Years Ended December 31, 2017, 2016 and 2015 (dollars in thousands) Balance at Beginning of Year Charged to Earnings Recoveries Uncollectible Accounts Written-off Foreign Currency Translation due to Charges Balance at End of Year Year ended December 31, 2017 Allowance for doubtful accounts $ 3,693 $ 2,100 $ — $ (273 ) $ — $ 5,520 Straight-line rent receivable allowance 3,668 10,487 — (1,800 ) — 12,355 Loan loss reserves 2,750 4,526 — (7,178 ) — 98 $ 10,111 $ 17,113 $ — $ (9,251 ) $ — $ 17,973 Year ended December 31, 2016 Allowance for doubtful accounts $ 3,811 $ 235 $ — $ (353 ) $ — $ 3,693 Straight-line rent receivable allowance 5,331 3,540 — (5,191 ) (12 ) 3,668 Loan loss reserves 4,300 1,768 — (3,318 ) — 2,750 $ 13,442 $ 5,543 $ — $ (8,862 ) $ (12 ) $ 10,111 Year ended December 31, 2015 Allowance for doubtful accounts $ — $ 3,811 — $ — $ — $ 3,811 Straight-line rent receivable allowance 600 4,731 — — — 5,331 Loan loss reserves — 4,300 — — — 4,300 $ 600 $ 12,842 $ — $ — $ — $ 13,442

SCHEDULE III - REAL ESTATE ASSE

SCHEDULE III - REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION	12 Months Ended
	Dec. 31, 2017
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
SCHEDULE III - REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION	SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION As of December 31, 2017 (dollars in thousands) Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Location Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Skilled Nursing/Transitional Care Facilities New Martinsville New Martinsville, WV 100% — 475 10,543 11,018 — 475 10,331 10,806 (4,317 ) 1982 11/15/10 39 Glenville Glenville, WV 100% — 484 2,839 3,323 — 484 2,719 3,203 (830 ) 1982/2006/2015 11/15/10 40 Greenwood Warwick, RI 100% — 2,066 10,178 12,244 — 2,066 9,771 11,837 (4,589 ) 1964/2009 11/15/10 24 Forest Hills (SNF) Broken Arrow, OK 100% (4) 1,653 11,259 12,912 — 1,653 10,888 12,541 (4,339 ) 1994/2008, 2009/2010, 2015 11/15/10 40 Seminole Estates Seminole, OK 100% — 655 3,527 4,182 — 655 3,231 3,886 (972 ) 1987 11/15/10 32 Forest View Dayton, OH 100% — 819 4,214 5,033 — 819 3,926 4,745 (1,837 ) 1968 11/15/10 24 San Juan Farmington, NM 100% 9,504 799 4,163 4,962 3 799 3,791 4,590 (1,612 ) 1963/1993 11/15/10 24 McKinley Care Gallup, NM 100% 5,448 409 1,865 2,274 4 409 1,753 2,162 (753 ) 1968 11/15/10 24 Bedford Hills Bedford, NH 100% 6,142 1,911 12,245 14,156 — 1,911 11,308 13,219 (3,956 ) 1992/2010 11/15/10 36 Exeter on Hampton Exeter, NH 100% — 2,365 2,350 4,715 — 2,365 659 3,024 (389 ) 1976/2011 11/15/10 40 Pheasant Wood Petersborough, NH 100% — 625 3,986 4,611 — 625 3,396 4,021 (1,509 ) 1975/2016 11/15/10 28 Westwood Keene, NH 100% — 699 3,823 4,522 — 699 3,320 4,019 (1,781 ) 1965/2010 11/15/10 24 Colonial Hill Rochester, NH 100% — 412 3,960 4,372 — 412 3,331 3,743 (1,340 ) 1986/2010 11/15/10 44 Crestwood Care Milford, NH 100% — 557 3,441 3,998 — 557 2,941 3,498 (1,364 ) 1972 11/15/10 28 Applewood Winchester, NH 100% — 348 3,075 3,423 — 348 2,654 3,002 (1,047 ) 1987 11/15/10 32 The Elms Care Milford, NH 100% — 312 1,679 1,991 — 312 1,464 1,776 (869 ) 1890/2005 11/15/10 20 Woodland Hill Asheboro, NC 100% — 1,706 8,053 9,759 — 1,706 7,569 9,275 (2,618 ) 1987/2009 11/15/10 32 Missouri River Great Falls, MT 100% 10,841 2,023 16,967 18,990 — 2,023 15,916 17,939 (6,814 ) 1960/1990, 2010 11/15/10 30 Butte Care Butte, MT 100% — 1,092 12,654 13,746 — 1,092 12,449 13,541 (4,706 ) 1974/2012 11/15/10 35 Whitefish Care Whitefish, MT 100% — 651 6,339 6,990 — 651 6,186 6,837 (2,421 ) 1973/2012 11/15/10 35 Deer Lodge Deer Lodge, MT 100% 4,129 190 3,032 3,222 2 190 2,637 2,827 (1,071 ) 1973 11/15/10 30 Twin Oaks Danvers, MA 100% — 885 5,100 5,985 — 885 4,366 5,251 (1,973 ) 1969 11/15/10 24 Maplewood Amesbury, MA 100% — 771 4,550 5,321 — 771 3,695 4,466 (1,666 ) 1968/2010 11/15/10 24 Saugus Saugus, MA 100% — 285 1,643 1,928 — 285 1,006 1,291 (516 ) 1967 11/15/10 24 Countryside Care Bardwell, KY 100% — 239 4,790 5,029 — 239 4,409 4,648 (1,437 ) 1993/2010 11/15/10 35 Barkley Center Paducah, KY 100% — 325 4,019 4,344 — 325 3,395 3,720 (1,098 ) 1999/2014 11/15/10 35 Gooding/Bennett Hills Gooding, ID 100% — — 1,731 1,731 — — 1,719 1,719 (992 ) 1968/2009 11/15/10 40 Oakhurst Ocala, FL 100% — 1,474 8,212 9,686 — 1,474 7,489 8,963 (2,810 ) 1984/2010 11/15/10 32 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Location Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Orchard Ridge New Port Richey, FL 100% — 536 5,685 6,221 — 536 5,220 5,756 (1,944 ) 1983/1995, 2012 11/15/10 32 Bay Tree Palm Harbor, FL 100% — 786 4,870 5,656 — 786 4,309 5,095 (1,820 ) 1981 11/15/10 32 West Bay Oldsmar, FL 100% — 775 4,660 5,435 — 775 4,103 4,878 (1,629 ) 1982/2010 11/15/10 32 Sunset Point Clearwater, FL 100% — 706 4,370 5,076 — 706 3,880 4,586 (1,624 ) 1983 11/15/10 32 Arden House Hamden, CT 100% 18,772 2,250 23,816 26,066 — 2,250 22,785 25,035 (8,877 ) 1973/2008, 2010 11/15/10 28 Pope John Paul Danbury, CT 100% — — 13,702 13,702 — — 12,642 12,642 (4,450 ) 1983/2009 11/15/10 32 St. Camillus Stamford, CT 100% — — 12,528 12,528 — — 11,261 11,261 (3,982 ) 1987/2008 11/15/10 32 Madison House Madison, CT 100% — 4,337 8,164 12,501 — 4,337 7,673 12,010 (2,541 ) 1994/2009, 2010 11/15/10 36 Willows (CT) Woodbridge, CT 100% — 1,838 9,961 11,799 — 1,838 9,100 10,938 (3,375 ) 1989/2011 11/15/10 32 The Reservoir West Hartford, CT 100% — 1,204 9,457 10,661 — 1,204 9,090 10,294 (3,082 ) 1995/2009, 2011 11/15/10 36 Glen Hill Danbury, CT 100% — 918 7,017 7,935 — 918 6,412 7,330 (3,206 ) 1963/2009 11/15/10 24 Governor's House Simsbury, CT 100% — — 5,750 5,750 — — 5,154 5,154 (2,810 ) 1895/2008, 2010 11/15/10 20 Elms Haven Thornton, CO 100% 14,432 3,717 18,473 22,190 7 3,716 17,726 21,442 (6,280 ) 1987/1989, 1997, 2007, 2008/2016, 2017 11/15/10 40 Carmichael Carmichael, CA 100% — — 1,741 1,741 — — 1,083 1,083 (722 ) 1960/1976, 2010 11/15/10 40 Willows (CA) Willows, CA 100% — 137 1,426 1,563 — 137 1,076 1,213 (672 ) 1969/2010, 2015 11/15/10 40 Washington Care San Leandro, CA 100% 9,111 — 1,331 1,331 8 — 1,116 1,116 (634 ) 1969/2010 11/15/10 40 Lake Drive Henryetta, OK 100% — 160 549 709 — 160 75 235 (56 ) 1968 11/15/10 10 Mineral Springs North Conway, NH 100% 12,114 417 5,352 5,769 — 417 4,746 5,163 (1,682 ) 1988/2009 11/15/10 43 Wolfeboro Wolfeboro, NH 100% 10,205 454 4,531 4,985 — 454 4,124 4,578 (1,443 ) 1984/1986, 1987, 2009 11/15/10 41 Meridian Care Meridian, ID 100% — 840 8,342 9,182 — 840 7,854 8,694 (3,425 ) 1997/2009 11/15/10 39 St. Joseph's Trumbull, CT 100% — — 21,878 21,878 — — 20,773 20,773 (9,456 ) 1959 11/15/10 24 Broadmeadow Healthcare Middletown, DE 100% — 1,650 21,730 23,380 — 1,650 21,730 23,380 (4,015 ) 2005 08/01/11 40 Capitol Healthcare Dover, DE 100% — 4,940 15,500 20,440 — 4,940 15,500 20,440 (2,995 ) 1996/2016 08/01/11 40 Pike Creek Healthcare Wilmington, DE 100% — 2,460 25,240 27,700 — 2,460 25,240 27,700 (4,715 ) 2009 08/01/11 40 Renaissance Healthcare Millsboro, DE 100% — 1,640 22,620 24,260 — 1,640 22,620 24,260 (4,308 ) 2008 08/01/11 40 Clara Burke Plymouth Meeting, PA 100% — 2,527 12,453 14,980 179 2,527 12,631 15,158 (2,256 ) 1927/1990, 2007/2016 03/30/12 40 Warrington Warrington, PA 100% — 2,617 11,662 14,279 106 2,617 11,768 14,385 (1,924 ) 1958/2009/2016 03/30/12 40 Ridgecrest Duffield, VA 100% — 509 5,018 5,527 861 509 5,879 6,388 (1,123 ) 1981/2013 05/10/12 40 Camden Care Center Minneapolis, MN 100% — 1,235 5,777 7,012 50 970 3,880 4,850 — 1990 11/30/12 40 Arbrook Plaza Arlington, TX 100% — 3,783 14,219 18,002 — 3,783 14,219 18,002 (2,077 ) 2002/2012 11/30/12 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Location Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Northgate Plaza Irving, TX 100% — 4,901 10,299 15,200 — 4,901 10,299 15,200 (1,550 ) 2003/2012, 2015 11/30/12 40 Gulf Pointe Plaza Rockport, TX 100% — 1,005 6,628 7,633 — 1,005 6,628 7,633 (1,048 ) 2002/2012 11/30/12 40 Gateway Senior Living Lincoln, NE 100% — 6,368 29,919 36,287 — 6,368 29,919 36,287 (3,298 ) 1962/1996/2013 02/14/14 40 Legacy Fremont, NE 100% — 615 16,176 16,791 — 615 16,176 16,791 (1,956 ) 2008 02/14/14 40 Pointe Fremont, NE 100% — 615 2,943 3,558 — 615 2,943 3,558 (422 ) 1970/1979/1983/1994 02/14/14 40 Regency South Sioux City, NE 100% — 246 6,206 6,452 — 246 6,206 6,452 (914 ) 1962/1968/1975/2000/2004 02/14/14 40 Parkmoor Village Colorado Springs, CO 100% — 430 13,703 14,133 — 430 13,703 14,133 (1,733 ) 1985/2017 03/05/14 40 Onion Creek Austin, TX 100% — 871 12,843 13,714 — 871 12,843 13,714 (1,345 ) 2011 10/21/14 40 Adams PARC Barlesville, OK 100% — 1,332 6,904 8,236 — 1,332 6,904 8,236 (687 ) 1989 10/29/14 40 PARCway Oklahoma City, OK 100% — 2,189 23,567 25,756 460 2,189 24,028 26,217 (2,087 ) 1963/1984 10/29/14 40 Brookhaven Extensive Care Norman, OK 100% — 869 5,236 6,105 — 869 5,237 6,106 (582 ) 2001/2013 10/29/14 40 St. Thomas More Medical Complex Hyattsville, MD 100% — 6,343 65,573 71,916 — 6,343 65,573 71,916 (4,937 ) 1950/1976, 2008 06/30/15 40 Bay Ridge Healthcare Center Annapolis, MD 100% — 1,548 40,773 42,321 — 1,548 40,773 42,321 (2,846 ) 1964/1993, 2012 06/30/15 40 NMS Healthcare of Silver Spring Wheaton, MD 100% — 676 56,897 57,573 — 676 56,897 57,573 (3,915 ) 1966/1991, 2012 06/30/15 40 NMS Healthcare of Hagerstown Hagerstown, MD 100% — 1,475 56,237 57,712 — 1,475 56,237 57,712 (3,271 ) 1953/1975, 2014 11/25/15 40 NMS Healthcare of Springbrook Silver Spring, MD 100% — 963 48,085 49,048 — 963 48,084 49,047 (1,907 ) 1965/2015 07/26/16 40 Andrew Residence Minneapolis, MN 100% — 2,931 6,943 9,874 90 2,931 7,033 9,964 (78 ) 1941/2014 08/17/17 40 Atrium Post Acute Care of Chilton Chilton, WI 100% — 230 3,645 3,875 — 230 3,645 3,875 (34 ) 1963/2010 08/17/17 40 Fox River Nursing and Rehab Center Appleton, WI 100% — 1,220 2,351 3,571 — 1,220 2,351 3,571 (22 ) 1968/1992 08/17/17 40 Bridgewood Nursing and Rehab Center Neenah, WI 100% — 890 2,985 3,875 — 890 2,985 3,875 (30 ) 1965 08/17/17 40 Kennedy Park Nursing and Rehab Center Schofield, WI 100% — 1,000 2,875 3,875 — 1,000 2,875 3,875 (28 ) 1966/1997 08/17/17 40 Avamere Riverpark of Eugene Eugene, OR 100% — 2,205 28,700 30,905 2,252 2,205 30,952 33,157 (310 ) 1988/2016 08/17/17 40 Avamere Rehab of Lebanon Lebanon, OR 100% — 958 14,176 15,134 — 958 14,176 15,134 (128 ) 1974 08/17/17 40 Avamere Crestview of Portland Portland, OR 100% — 1,791 12,833 14,624 2,761 1,791 15,594 17,385 (182 ) 1964/2016 08/17/17 40 Avamere Rehabilitation of King City Tigard, OR 100% — 2,011 11,667 13,678 — 2,011 11,667 13,678 (109 ) 1975 08/17/17 40 Avamere Rehabilitation of Hillsboro Hillsboro, OR 100% — 1,387 14,028 15,415 — 1,387 14,028 15,415 (126 ) 1973 08/17/17 40 Avamere Rehab of Junction City Junction City, OR 100% — 584 7,901 8,485 — 584 7,901 8,485 (74 ) 1966/2015 08/17/17 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Location Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Avamere Rehab of Eugene Eugene, OR 100% — 1,380 14,921 16,301 1,791 1,380 16,712 18,092 (180 ) 1966/2016 08/17/17 40 Avamere Rehab of Coos Bay Coos Bay, OR 100% — 829 8,518 9,347 — 829 8,518 9,347 (83 ) 1968 08/17/17 40 Avamere Twin Oaks of Sweet Home Sweet Home, OR 100% — 238 3,338 3,576 — 238 3,338 3,576 (32 ) 1972 08/17/17 40 Avamere Rehab of Clackamas Gladstone, OR 100% — 792 5,000 5,792 — 792 5,000 5,792 (48 ) 1961 08/17/17 40 Avamere Rehab of Newport Newport, OR 100% — 406 5,001 5,407 — 406 5,001 5,407 (46 ) 1973/2014 08/17/17 40 Avamere Rehab of Oregon City Oregon City, OR 100% — 1,496 12,142 13,638 — 1,496 12,142 13,638 (109 ) 1974 08/17/17 40 Avamere Transitional Care of Puget Sound Tacoma, WA 100% — 1,771 11,595 13,366 — 1,771 11,595 13,366 (121 ) 2017 08/17/17 40 Richmond Beach Rehab Shoreline, WA 100% — 4,703 14,444 19,147 — 4,703 14,444 19,147 (135 ) 1993/2014 08/17/17 40 St. Francis of Bellingham Bellingham, WA 100% — — 15,330 15,330 — — 15,330 15,330 (144 ) 1984/2015 08/17/17 40 Avamere Olympic Rehabilitation of Sequim Sequim, WA 100% — 427 4,450 4,877 — 427 4,450 4,877 (50 ) 1974 08/17/17 40 Avamere Heritage Rehabilitation of Tacoma Tacoma, WA 100% — 1,705 4,952 6,657 — 1,705 4,952 6,657 (49 ) 1968 08/17/17 40 Avamere at Pacific Ridge Tacoma, WA 100% — 2,195 1,956 4,151 — 2,195 1,956 4,151 (25 ) 1972/2014 08/17/17 40 Avamere Rehabilitation of Cascade Park Vancouver, WA 100% — 1,782 15,116 16,898 — 1,782 15,116 16,898 (147 ) 1991 08/17/17 40 The Pearl at Kruse Way Lake Oswego, OR 100% — 5,947 13,401 19,348 — 5,947 13,401 19,348 (126 ) 2005/2016 08/17/17 40 Avamere at Medford Medford, OR 100% — 2,043 38,485 40,528 2,960 2,043 41,445 43,488 (409 ) 1974/2016 08/17/17 40 Avamere Bellingham Healthcare and Rehab Services Bellingham, WA 100% — 2,908 2,058 4,966 — 2,908 2,058 4,966 (26 ) 1972/2015 08/17/17 40 Queen Anne Healthcare Seattle, WA 100% — 2,508 6,401 8,909 — 2,508 6,401 8,909 (61 ) 1970 08/17/17 40 Avamere Transitional Care and Rehab - Boise Boise, ID 100% — 681 9,348 10,029 — 681 9,348 10,029 (89 ) 1979 08/17/17 40 Avamere Transitional Care at Sunnyside Salem, OR 100% — 2,114 15,651 17,765 — 2,114 15,651 17,765 (145 ) 1981 08/17/17 40 Avamere Health Services of Rogue Valley Medford, OR 100% — 1,375 23,808 25,183 — 1,375 23,808 25,183 (223 ) 1961/2016 08/17/17 40 Avamere Transitional Care and Rehab - Malley Northglenn, CO 100% — 1,662 26,014 27,676 3,258 1,662 29,273 30,935 (311 ) 1972/2016 08/17/17 40 Avamere Transitional Care and Rehab - Brighton Brighton, CO 100% — 1,933 11,624 13,557 — 1,933 11,624 13,557 (111 ) 1971 08/17/17 40 Phoenix Rehabilitation Services Phoenix, AZ 100% — 1,270 11,502 12,772 — 1,270 11,502 12,772 (104 ) 2008 08/17/17 40 Tustin Subacute Care Facility Santa Ana, CA 100% — 1,889 11,682 13,571 — 1,889 11,682 13,571 (102 ) 2008 08/17/17 40 La Mesa Inpatient Rehabilitation Facility La Mesa, CA 100% — 1,276 8,177 9,453 — 1,276 8,177 9,453 (75 ) 2012 08/17/17 40 Golden Living Center - Westminster Westminster, MD 100% — 2,128 6,614 8,742 161 2,128 6,775 8,903 (79 ) 1973/2010 08/17/17 40 Maple Wood Care Center Kansas City, MO 100% — 1,142 3,226 4,368 170 1,142 3,396 4,538 (57 ) 1983 08/17/17 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Location Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Garden Valley Nursing & Rehab Kansas City, MO 100% — 1,985 2,714 4,699 112 1,985 2,826 4,811 (56 ) 1983 08/17/17 40 Worthington Nursing & Rehab Parkersburg, WV 100% — 697 10,688 11,385 — 697 10,688 11,385 (122 ) 1974/1999 08/17/17 40 Burlington House Rehabilitative and Alzheimers Care Center Cincinnati, OH 100% — 2,686 10,062 12,748 — 2,686 10,062 12,748 (108 ) 1989/2015 08/17/17 40 Golden Living Center - Charlottesville Charlottesville, VA 100% — 2,840 8,450 11,290 140 2,840 8,590 11,430 (91 ) 1964/2009 08/17/17 40 Golden Living Center - Sleepy Hollow Annandale, VA 100% — 7,241 17,727 24,968 318 7,241 18,045 25,286 (179 ) 1963/2013 08/17/17 40 Golden Living Center - Petersburg Petersburg, VA 100% — 988 8,416 9,404 1 988 8,417 9,405 (87 ) 1970/2009 08/17/17 40 Golden Living Center - Battlefield Park Petersburg, VA 100% — 1,174 8,858 10,032 1 1,174 8,859 10,033 (89 ) 1976/2010 08/17/17 40 Golden Living Center - Hagerstown Hagerstown, MD 100% — 1,393 13,438 14,831 39 1,393 13,476 14,869 (131 ) 1971/2010 08/17/17 40 Golden Living Center - Cumberland Cumberland, MD 100% — 800 16,973 17,773 9 800 16,983 17,783 (162 ) 1968 08/17/17 40 Gilroy Healthcare and Rehabilitiation Center Gilroy, CA 100% — 662 23,775 24,437 — 662 23,775 24,437 (212 ) 1968 08/17/17 40 North Cascades Health and Rehabilitation Center Bellingham, WA 100% — 1,437 14,196 15,633 — 1,437 14,196 15,633 (132 ) 1999 08/17/17 40 Granite Rehabilitation & Wellness Cheyenne, WY 100% — 387 13,613 14,000 1,045 387 14,659 15,046 (122 ) 1967/2017 08/17/17 40 Rawlins Rehabilitation & Wellness Rawlins, WY 100% — 281 6,007 6,288 — 281 6,007 6,288 (56 ) 1967 08/17/17 40 Wind River Rehabilitation & Wellness Riverton, WY 100% — 199 11,398 11,597 — 199 11,398 11,597 (103 ) 1967 08/17/17 40 Sage View Care Center Rock Springs, WY 100% — 420 8,665 9,085 — 420 8,665 9,085 (82 ) 1964 08/17/17 40 Shelton Health and Rehabilitation Center Shelton, WA 50% — 415 8,965 9,380 — 415 8,965 9,380 (90 ) 1998 08/17/17 40 Dundee Nursing Home Bennettsville, SC 100% — 1,437 4,631 6,068 — 1,437 4,631 6,068 (48 ) 1958 08/17/17 40 Mt. Pleasant Nursing Center Mount Pleasant, SC 100% — 2,689 3,942 6,631 — 2,689 3,942 6,631 (43 ) 1977/2015 08/17/17 40 Tri-State Comp Care Center Harrogate, TN 100% — 1,811 4,963 6,774 — 1,811 4,963 6,774 (55 ) 1990/2005 08/17/17 40 Emporia Manor Emporia, VA 100% — 1,656 478 2,134 — 1,656 478 2,134 (7 ) 1971 08/17/17 40 Epic-Conway Conway, SC 100% — 1,408 10,784 12,192 — 1,408 10,784 12,192 (108 ) 1975 08/17/17 40 Epic- Bayview Beaufort, SC 100% — 1,842 11,389 13,231 — 1,842 11,389 13,231 (111 ) 1970 08/17/17 40 Green Acres of Baytown Baytown, TX 100% — 479 6,351 6,830 85 479 6,436 6,915 (61 ) 1970 08/17/17 40 Allenbrook Healthcare Center Baytown, TX 100% — 426 3,236 3,662 79 426 3,316 3,742 (36 ) 1975 08/17/17 40 Green Acres of Huntsville Huntsville, TX 100% — 302 3,153 3,455 54 302 3,207 3,509 (34 ) 1968 08/17/17 40 Green Acres of Center Center, TX 100% — 231 1,335 1,566 187 231 1,522 1,753 (18 ) 1972 08/17/17 40 Humble Healthcare Center Humble, TX 100% — 2,114 1,643 3,757 380 2,114 2,023 4,137 (23 ) 1972 08/17/17 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Location Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Beechnut Manor Houston, TX 100% — 1,019 5,734 6,753 128 1,019 5,862 6,881 (58 ) 1982 08/17/17 40 Linden Healthcare Center Linden, TX 100% — 112 256 368 109 112 365 477 (5 ) 1968 08/17/17 40 Sherman Healthcare Center Sherman, TX 100% — 469 6,310 6,779 124 469 6,434 6,903 (62 ) 1971 08/17/17 40 Mount Pleasant Healthcare Center Mount Pleasant, TX 100% — 250 6,913 7,163 90 250 7,003 7,253 (67 ) 1970 08/17/17 40 Renfro Healthcare Center Waxahachie, TX 100% — 416 7,259 7,675 75 416 7,335 7,751 (71 ) 1976 08/17/17 40 Upshur Manor Nursing Home Gilmer, TX 100% — 707 4,552 5,259 49 707 4,602 5,309 (48 ) 1990 08/17/17 40 Hearthstone of Northern Nevada Sparks, NV 100% — 1,986 9,004 10,990 — 1,986 9,004 10,990 (90 ) 1988 08/17/17 40 Sunset Hills Healthcare and Rehabilitation Center St. Louis, MO 100% — 1,595 5,822 7,417 — 1,595 5,822 7,417 (87 ) 1954/2016 08/17/17 40 Mountainview Specialty Care Center Greensburg, PA 100% — 549 9,926 10,475 — 549 9,926 10,475 (118 ) 1971/2016 08/17/17 40 Golden Living Center - Richmond Richmond, IN 100% — 259 9,819 10,078 — 259 9,819 10,078 (94 ) 1975 08/17/17 40 Golden Living Center - Petersburg Petersburg, IN 100% — 581 5,367 5,948 — 581 5,367 5,948 (55 ) 1970/2009 08/17/17 40 Beverly Health - Ft. Pierce Fort Pierce, FL 100% — 787 16,648 17,435 — 787 16,648 17,435 (152 ) 1960/2011 08/17/17 40 Maryville Maryville, MO 100% — 114 5,955 6,069 — 114 5,955 6,069 (62 ) 1972 08/17/17 40 Ashland Healthcare Ashland, MO 100% — 765 2,669 3,434 — 765 2,669 3,434 (30 ) 1993 08/17/17 40 Bellefontaine Gardens St. Louis, MO 100% — 2,071 5,739 7,810 — 2,071 5,739 7,810 (64 ) 1988/1991 08/17/17 40 Current River Nursing Center Doniphan, MO 100% — 657 8,251 8,908 — 657 8,251 8,908 (82 ) 1991 08/17/17 40 Dixon Nursing & Rehab Dixon, MO 100% — 521 3,358 3,879 — 521 3,358 3,879 (36 ) 1989/2011 08/17/17 40 Forsyth Nursing & Rehab Forsyth, MO 100% — 594 8,549 9,143 — 594 8,549 9,143 (86 ) 1993/2007 08/17/17 40 Glenwood Healthcare Seymour, MO 100% — 658 901 1,559 — 658 901 1,559 (13 ) 1990 08/17/17 40 Silex Community Care Silex, MO 100% — 807 4,990 5,797 — 807 4,990 5,797 (51 ) 1991 08/17/17 40 South Hampton Place Columbia, MO 100% — 2,322 6,547 8,869 — 2,322 6,547 8,869 (68 ) 1994 08/17/17 40 Strafford Care Center Strafford, MO 100% — 1,634 6,518 8,152 — 1,634 6,518 8,152 (66 ) 1995 08/17/17 40 Windsor Healthcare & Rehab Windsor, MO 100% — 471 6,819 7,290 — 471 6,819 7,290 (63 ) 1996 08/17/17 40 Park Manor of Conroe Conroe, TX 100% — 1,222 19,099 20,321 — 1,222 19,099 20,321 (171 ) 2001 08/17/17 40 Park Manor of Cypress Station Houston, TX 100% — 1,334 11,615 12,949 — 1,334 11,615 12,949 (108 ) 2003/2013 08/17/17 40 Park Manor of Humble Humble, TX 100% — 1,541 12,332 13,873 — 1,541 12,332 13,873 (115 ) 2003 08/17/17 40 Park Manor of Quail Valley Missouri City, TX 100% — 1,825 9,681 11,506 — 1,825 9,681 11,506 (94 ) 2005 08/17/17 40 Park Manor of Westchase Houston, TX 100% — 2,676 7,396 10,072 — 2,676 7,396 10,072 (73 ) 2005 08/17/17 40 Park Manor of CyFair Houston, TX 100% — 1,732 12,921 14,653 — 1,732 12,921 14,653 (120 ) 1999 08/17/17 40 Park Manor of McKinney McKinney, TX 100% — 1,441 9,017 10,458 — 1,441 9,017 10,458 (91 ) 1993/2012 08/17/17 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Location Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Tanglewood Health and Rehabilitation Topeka, KS 100% — 176 2,340 2,516 — 176 2,340 2,516 (25 ) 1973/2013 08/17/17 40 Smoky Hill Health and Rehbilitation Salina, KS 100% — 301 4,201 4,502 — 301 4,201 4,502 (43 ) 1981 08/17/17 40 Belleville Health Center Belleville, KS 100% — 600 1,664 2,264 — 600 1,664 2,264 (21 ) 1977 08/17/17 40 Lakeview Manor Indianapolis, IN 100% — 2,743 6,015 8,758 — 2,743 6,015 8,758 (66 ) 1968 08/17/17 40 Westridge Healthcare Center Terre Haute, IN 100% — 1,067 7,061 8,128 — 1,067 7,061 8,128 (68 ) 1965/1984 08/17/17 40 Chalet Village Berne, IN 100% — 498 2,421 2,919 — 498 2,421 2,919 (27 ) 1986 08/17/17 40 Willow Bend Living Center Muncie, IN 100% — 1,168 9,562 10,730 — 1,168 9,562 10,730 (87 ) 1976/1986 08/17/17 40 Twin City Healthcare Gas City, IN 100% — 345 8,852 9,197 — 345 8,852 9,197 (81 ) 1974 08/17/17 40 Liberty Village Muncie, IN 100% — 1,483 4,888 6,371 — 1,483 4,888 6,371 (55 ) 1998 08/17/17 40 Pine Knoll Rehabilitation Center Winchester, IN 100% — 711 5,554 6,265 — 711 5,554 6,265 (53 ) 1986/1998 08/17/17 40 Willow Crossing Health & Rehab Center Columbus, IN 100% — 1,290 10,714 12,004 — 1,290 10,714 12,004 (98 ) 1988/2004 08/17/17 40 Bridgewater Center for Health & Rehab Hartford City, IN 100% — 396 3,439 3,835 — 396 3,439 3,835 (35 ) 1988/2012 08/17/17 40 Oakbrook Village Huntington, IN 100% — 589 3,387 3,976 — 589 3,387 3,976 (35 ) 1987 08/17/17 40 Persimmon Ridge Center Portland, IN 100% — 315 9,848 10,163 — 315 9,848 10,163 (92 ) 1964 08/17/17 40 Vermillion Convalescent Center Clinton, IN 100% — 884 9,839 10,723 — 884 9,839 10,723 (96 ) 1971 08/17/17 40 Meadowbrooke Rehab Centre & Suites Anderson, IN 100% — 1,565 5,126 6,691 — 1,565 5,126 6,691 (52 ) 1967 08/17/17 40 Whispering Pines Monticello, IN 100% — 376 2,898 3,274 — 376 2,898 3,274 (32 ) 1988 08/17/17 40 Woodland Hills Care Center Lawrenceburg, IN 100% — 559 2,629 3,188 — 559 2,629 3,188 (31 ) 1966/2007 08/17/17 40 Las Vegas Post Acute & Rehabilitation Las Vegas, NV 100% — 509 18,216 18,725 — 509 18,216 18,725 (160 ) 1964 08/17/17 40 Torey Pines Rehabilitation Hospital Las Vegas, NV 100% — 3,169 7,863 11,032 — 3,169 7,863 11,032 (78 ) 1972/1997 08/17/17 40 Villa Campana Rehabiitation Hospital Tucson, AZ 100% — 1,800 4,387 6,187 — 1,800 4,387 6,187 (50 ) 1983/2011 08/17/17 40 Kachina Point Rehabilitation Hospital Sedona, AZ 100% — 2,035 10,981 13,016 — 2,035 10,981 13,016 (110 ) 1984/2011 08/17/17 40 Bay View Rehabilitation Hospital Alameda, CA 100% — 3,078 22,328 25,406 — 3,078 22,328 25,406 (200 ) 1967 08/17/17 40 Dover Center for Health & Rehabilitation Dover, NH 100% — 522 5,839 6,361 — 522 5,839 6,361 (73 ) 1969/1992, 2017 08/17/17 40 Augusta Center for Health & Rehabilitation Augusta, ME 100% — 135 6,470 6,605 — 135 6,470 6,605 (63 ) 1967 08/17/17 40 Eastside Center for Health & Rehabilitation Bangor, ME 100% — 302 1,811 2,113 — 302 1,811 2,113 (21 ) 1967/1993 08/17/17 40 Winship Green Center for Health & Rehabilitation Bath, ME 100% — 250 1,934 2,184 — 250 1,934 2,184 (21 ) 1974 08/17/17 40 Brewer Center for Health & Rehabilitation Brewer, ME 100% — 177 14,497 14,674 — 177 14,497 14,674 (138 ) 1974/1990 08/17/17 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Location Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Kennebunk Center for Health & Rehabilitation Kennebunk, ME 100% — 198 6,822 7,020 — 198 6,822 7,020 (66 ) 1977 08/17/17 40 Norway Center for Health & Rehabilitation Norway, ME 100% — 791 3,680 4,471 — 791 3,680 4,471 (38 ) 1976 08/17/17 40 Brentwood Center for Health & Rehabilitation Yarmouth, ME 100% — 134 2,072 2,206 — 134 2,072 2,206 (23 ) 1952 08/17/17 40 Country Center for Health & Rehabilitation Newburyport, MA 100% — 269 4,436 4,705 — 269 4,436 4,705 (58 ) 1968/2009 08/17/17 40 Sachem Center for Health & Rehabilitation E. Bridgewater, MA 100% — 447 1,357 1,804 — 447 1,357 1,804 (22 ) 1968 08/17/17 40 Eliot Center for Health & Rehabilitation Natick, MA 100% — 475 1,491 1,966 — 475 1,491 1,966 (20 ) 1964 08/17/17 40 The Reservoir Center for Health & Rehabilitation Marlborough, MA 100% — 942 1,541 2,483 1,152 942 2,693 3,635 (23 ) 1973 08/17/17 40 Newton Wellesley Center for Alzheimer's Care Wellesley, MA 100% — 1,186 13,917 15,103 — 1,186 13,917 15,103 (128 ) 1971 08/17/17 40 Colony Center for Health & Rehabilitation Abington, MA 100% — 1,727 2,103 3,830 — 1,727 2,103 3,830 (27 ) 1965 08/17/17 40 Westgate Center for Rehab & Alzheimer's Care Bangor, ME 100% — 229 7,171 7,400 — 229 7,171 7,400 (72 ) 1969/1993 08/17/17 40 New Orange Hills Orange, CA 100% — 4,163 14,755 18,918 — 4,163 14,755 18,918 (139 ) 1987 08/17/17 40 Millbrook Healthcare & Rehabilitation Center Lancaster, TX 100% — 548 5,794 6,342 — 548 5,794 6,342 (60 ) 2008 08/17/17 40 Pleasant Valley Health & Rehab Garland, TX 100% — 1,118 7,490 8,608 — 1,118 7,490 8,608 (74 ) 2008 08/17/17 40 Regency Healthcare & Rehab Center at Red River Clarksville, TX 100% — 279 4,269 4,548 — 279 4,269 4,548 (47 ) 1989 08/17/17 40 McKinney Healthcare & Rehab McKinney, TX 100% — 1,272 6,047 7,319 — 1,272 6,047 7,319 (64 ) 2006 08/17/17 40 Nicholas County Nursing and Rehabilitation Richwood, WV 100% — 10 — 10 — 10 — 10 — 1980 08/17/17 40 Golden Living Center - Hopkins Hopkins, MN 100% — 807 4,668 5,475 — 807 4,668 5,475 (56 ) 1961/2008 08/17/17 40 Golden Living Center - Village Gardens Green Bay, WI 100% — 1,299 1,247 2,546 — 1,299 1,247 2,546 (20 ) 1965/2012 08/17/17 40 Golden Living Center - Florence Florence, WI 100% — 291 3,778 4,069 — 291 3,778 4,069 (42 ) 1970 08/17/17 40 Golden Living Center - South Shore St. Francis, WI 100% — 166 1,887 2,053 — 166 1,887 2,053 (22 ) 1960/1997 08/17/17 40 Golden Living Center - Rochester East Rochester, MN 100% — 645 7,067 7,712 — 645 7,067 7,712 (68 ) 1967/2011 08/17/17 40 Golden Living Center - Wisconsin Dells Wisconsin Dells, WI 100% — 1,640 1,599 3,239 — 1,640 1,599 3,239 (24 ) 1972/2006 08/17/17 40 Golden Living Center - Sheboygan Sheboygan, WI 100% — 1,038 2,839 3,877 — 1,038 2,839 3,877 (36 ) 1967/2012 08/17/17 40 Azalea Gardens of Mobile Mobile, AL 100% — — 2,540 2,540 — — 2,540 2,540 (31 ) 1967 08/17/17 40 Golden Living Center - Hendersonville Hendersonville, NC 100% — 1,611 3,503 5,114 — 1,611 3,503 5,114 (41 ) 1979 08/17/17 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Location Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Trisun Care Center Coastal Palms Portland, TX 100% — 610 11,296 11,906 — 610 11,296 11,906 (104 ) 1998 08/17/17 40 Trisun Care Center Westwood Corpus Christi, TX 100% — 366 6,961 7,327 — 366 6,961 7,327 (66 ) 1973/2010 08/17/17 40 Trisun Care Center River Ridge Corpus Christi, TX 100% — 792 7,450 8,242 — 792 7,450 8,242 (73 ) 1994/2012 08/17/17 40 Trisun Care Center - Northeast El Paso El Paso, TX 100% — 1,331 10,117 11,448 — 1,331 10,117 11,448 (110 ) 2011 08/17/17 40 Lakeside Care Center San Antonio, TX 100% — 1,280 11,705 12,985 — 1,280 11,705 12,985 (122 ) 2012 08/17/17 40 Riverside Nursing & Rehab Center Austin, TX 100% (5) 1,626 4,659 6,285 — 1,626 4,659 6,285 (48 ) 2010 08/17/17 40 Senior Care of West Oaks Austin, TX 100% (5) 2,743 11,189 13,932 — 2,743 11,189 13,932 (108 ) 2006 08/17/17 40 Baytown Nursing & Rehab Center Baytown, TX 100% (5) 579 22,317 22,896 — 579 22,317 22,896 (201 ) 2000/2013 08/17/17 40 Cedar Bayou Nursing & Rehab Center Baytown, TX 100% (5) 589 20,475 21,064 — 589 20,475 21,064 (191 ) 2008 08/17/17 40 Mystic Park Nursing & Rehab Center San Antonio, TX 100% (5) 721 7,979 8,700 — 721 7,979 8,700 (79 ) 2004 08/17/17 40 Paramount Senior Care Centers at San Antonio San Antonio, TX 100% (5) 914 12,823 13,737 — 914 12,823 13,737 (123 ) 2000 08/17/17 40 Senior Care of Westwood Houston, TX 100% (5) 1,300 13,353 14,653 — 1,300 13,353 14,653 (129 ) 2006 08/17/17 40 Paramounty Senior Care Centers at Pasadena Pasadena, TX 100% (5) 1,148 23,579 24,727 — 1,148 23,579 24,727 (216 ) 2004 08/17/17 40 The Pointe Nursing & Rehab Center Webster, TX 100% (5) 904 10,315 11,219 — 904 10,315 11,219 (102 ) 2000/2009 08/17/17 40 Brodie Ranch Nursing & Rehab Center Austin, TX 100% (5) 610 8,549 9,159 — 610 8,549 9,159 (81 ) 2010 08/17/17 40 Bandera Nursing & Rehab Center Bandera, TX 100% — 691 4,987 5,678 — 691 4,987 5,678 (53 ) 2009 08/17/17 40 West Oaks Nursing & Rehab Center Houston, TX 100% — 1,168 11,195 12,363 — 1,168 11,195 12,363 (110 ) 1994 08/17/17 40 Pilgrim Manor Bossier City, LA 100% — 772 23,497 24,269 — 772 23,497 24,269 (230 ) 1973/2000 08/17/17 40 Spring Lake Campus Shreveport, LA 100% — 975 30,437 31,412 — 975 30,437 31,412 (297 ) 1984/1998 08/17/17 40 The Bradford Shreveport, LA 100% — 1,402 21,494 22,896 — 1,402 21,494 22,896 (216 ) 1980/2008 08/17/17 40 The Guest House Shreveport, LA 100% — 1,067 21,983 23,050 — 1,067 21,983 23,050 (224 ) 1964/2006 08/17/17 40 Alpine Ruston, LA 100% — 691 22,205 22,896 — 691 22,205 22,896 (220 ) 2014 08/17/17 40 Colonial Oaks Bossier City, LA 100% — 498 13,240 13,738 — 498 13,240 13,738 (135 ) 2001 08/17/17 40 Shreveport Manor Shreveport, LA 100% — 457 14,125 14,582 — 457 14,125 14,582 (141 ) 1969/2008 08/17/17 40 Booker T. Washington Shreveport, LA 100% — 864 9,286 10,150 — 864 9,286 10,150 (95 ) 2001/2012 08/17/17 40 Hill Country Care Dripping Springs, TX 100% — 1,107 5,402 6,509 — 1,107 5,402 6,509 (53 ) 1986 08/17/17 40 Pecan Tree Rehab & Healthcare Gainesville, TX 100% — 315 9,759 10,074 — 315 9,759 10,074 (91 ) 1990 08/17/17 40 Senior Care of Jacksonville Jacksonville, TX 100% — 569 6,300 6,869 — 569 6,300 6,869 (63 ) 2006 08/17/17 40 Senior Care of San Angelo San Angelo, TX 100% — 1,565 12,936 14,501 — 1,565 12,936 14,501 (120 ) 2006 08/17/17 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Location Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Senior Care of Midland Midland, TX 100% — 528 2,311 2,839 — 528 2,311 2,839 (26 ) 2008 08/17/17 40 Summer Place Nursing and Rehab Beaumont, TX 100% — 945 20,424 21,369 — 945 20,424 21,369 (185 ) 2009 08/17/17 40 The Meadows Nursing and Rehab Orange, TX 100% — 711 10,737 11,448 — 711 10,737 11,448 (102

SCHEDULE IV - MORTGAGE LOANS ON

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE	12 Months Ended
	Dec. 31, 2017
Mortgage Loans on Real Estate [Abstract]
SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE	SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE As of December 31, 2017 (dollars in thousands) Description Contractual Interest Rate Maturity Date Periodic Payment Terms Prior Liens Principal Balance Book Value (1) Principal Amount of Loans Subject to Delinquent Principal or Interest Mortgages: South Tampa 9.8 % 2018 (2) $ — $ 5,358 $ 4,342 N/A River Vista 10.0 2027 (3) — 8,008 8,008 N/A Construction Mortgages: McKinney 8.0 2021 (4) — 2,453 2,499 N/A Arlington 8.0 2022 (4) — 214 234 N/A $ — $ 16,033 $ 15,083 (1) The aggregate cost for federal income tax purposes was $16.2 million as of December 31, 2017. (2) Interest and principal is due monthly with a balloon payment at the maturity date. (3) Interest is due monthly, and principal is due at the maturity date. (4) Interest and principal for the first 36 months is deferred and due at the maturity date. Interest after the first 36 months is due monthly. Changes in mortgage loans are summarized as follows: Year Ended December 31, 2017 2016 2015 Balance at the beginning of the year $ 39,026 $ 241,038 $ 209,275 Additions during period: Draws 1,738 — 8,713 New mortgage loans 12,987 3,767 20,411 Interest income added to principal 539 690 2,639 Deductions during period: Paydowns/repayments (14,570 ) (193,075 ) — Conversion to real property (19,085 ) (10,100 ) — Write-offs (1) (4,602 ) (3,294 ) — Balance at the end of the year $ 16,033 $ 39,026 $ 241,038 (1) During the year ended December 31, 2017, the Company wrote off uncollectible amounts related to one mortgage loan that was repaid. During the year ended December 31, 2016, the Company wrote off amounts in excess of the fair value upon conversion of one mortgage loan to real property.

SUMMARY OF SIGNIFICANT ACCOUN31

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Basis of Presentation	The accompanying consolidated financial statements include the accounts of Sabra and its wholly owned subsidiaries as of December 31, 2017 and 2016 and for the years ended December 31, 2017 , 2016 and 2015 . All significant intercompany transactions and balances have been eliminated in consolidation. The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”).
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 December 31, 2017 , the Company determined it was the primary beneficiary of 19 VIEs— 18 exchange accommodation titleholder variable interest entities and a joint venture variable interest entity owning one skilled nursing/transitional care facility—and has consolidated the operations of these entities in the accompanying consolidated financial statements. As of December 31, 2017 , the Company determined that operations of these entities 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 December 31, 2017 and 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 also applies this guidance to managing member interests in limited liability companies. 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 or members, the sole general partner or managing member increases or decreases its ownership interests, or there is an increase or decrease in the number of outstanding ownership interests. As of December 31, 2017 , the Company’s determination of which entity controls its investments in joint ventures has not changed as a result of any reassessment.
Use of Estimates	The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates.
Reclassifications	Certain amounts in the Company’s 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 consolidated balance sheets and consolidated statements of income.
Real Estate Investments	Real Estate Acquisition Valuation All assets acquired and liabilities assumed in an acquisition of real estate accounted for as a business combination are measured at their acquisition date fair values. For acquisitions of real estate accounted for as an asset acquisition, the fair value of consideration transferred by the Company (including transaction costs) is allocated to all assets acquired and liabilities assumed on a relative fair value basis. The acquisition value of land, building and improvements are included in real estate investments on the accompanying consolidated balance sheets. The acquisition value of above market lease, tenant origination and absorption costs and tenant relationship intangible assets is included in lease intangible assets, net on the accompanying consolidated balance sheets. The acquisition value of below market lease intangible liabilities is included in lease intangible liabilities, net on the accompanying consolidated balance sheets. Acquisition costs associated with real estate acquisitions deemed asset acquisitions are capitalized, and costs associated with real estate acquisitions deemed business combinations are expensed as incurred. The Company capitalized $1.0 million and $0.3 million of acquisition costs during the years ended December 31, 2017 and 2016 , respectively. Restructuring costs that do not meet the definition of a liability at the acquisition date are expensed in periods subsequent to the acquisition date. During the years ended December 31, 2017 , 2016 and 2015 , the Company expensed $30.3 million , $1.2 million and $7.0 million , respectively, of merger and acquisition costs. Estimates of the fair values of the tangible assets, identifiable intangibles and assumed liabilities require the Company to make significant assumptions to estimate market lease rates, property operating expenses, carrying costs during lease-up periods, discount rates, market absorption periods, and the number of years the property will be held for investment. The Company makes its best estimate based on the Company’s evaluation of the specific characteristics of each tenant’s lease. The use of inappropriate assumptions would result in an incorrect valuation of the Company’s acquired tangible assets, identifiable intangibles and assumed liabilities, which would impact the amount of the Company’s net income. Depreciation and Amortization Real estate costs related to the acquisition and improvement of properties are capitalized and amortized on a straight-line basis over the lesser of the expected useful life of the asset and the remaining lease term of any property subject to a ground lease. Tenant improvements are capitalized and amortized on a straight-line basis over the lesser of the expected useful life of the asset and the remaining lease term. Depreciation is discontinued when a property is identified as held for sale. Repair and maintenance costs are charged to expense as incurred and significant replacements and betterments are capitalized. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset. The Company considers the period of future benefit of an asset to determine its appropriate useful life. Depreciation of real estate assets and amortization of tenant origination and absorption costs and tenant relationship lease intangibles are included in depreciation and amortization on the accompanying consolidated statements of income. Amortization of above and below market lease intangibles is included in rental income on the accompanying consolidated statements of income. The Company anticipates the estimated useful lives of its assets by class to be generally as follows: land improvements, 3 to 40 years; buildings and building improvements, 3 to 40 years; and furniture and equipment, 1 to 20 years. Intangibles are generally amortized over the remaining noncancellable lease terms, with tenant relationship intangible amortization periods including extension periods of up to 10 years . Impairment of Real Estate Investments The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate investments may not be recoverable or realized. When indicators of potential impairment suggest that the carrying value of real estate investments may not be recoverable, the Company assesses the recoverability by estimating whether the Company will recover the carrying value of its real estate investments through the undiscounted future cash flows and the eventual disposition of the investment. In some instances, there may be various potential outcomes for an investment and its potential future cash flows. In these instances, the undiscounted future cash flows used to assess recoverability are probability-weighted based on the Company’s best estimates as of the date of evaluation. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of its real estate investments, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of its real estate investments.
Real Estate Investments, Inventory	Real Estate Acquisition Valuation All assets acquired and liabilities assumed in an acquisition of real estate accounted for as a business combination are measured at their acquisition date fair values. For acquisitions of real estate accounted for as an asset acquisition, the fair value of consideration transferred by the Company (including transaction costs) is allocated to all assets acquired and liabilities assumed on a relative fair value basis. The acquisition value of land, building and improvements are included in real estate investments on the accompanying consolidated balance sheets. The acquisition value of above market lease, tenant origination and absorption costs and tenant relationship intangible assets is included in lease intangible assets, net on the accompanying consolidated balance sheets. The acquisition value of below market lease intangible liabilities is included in lease intangible liabilities, net on the accompanying consolidated balance sheets. Acquisition costs associated with real estate acquisitions deemed asset acquisitions are capitalized, and costs associated with real estate acquisitions deemed business combinations are expensed as incurred. The Company capitalized $1.0 million and $0.3 million of acquisition costs during the years ended December 31, 2017 and 2016 , respectively. Restructuring costs that do not meet the definition of a liability at the acquisition date are expensed in periods subsequent to the acquisition date. During the years ended December 31, 2017 , 2016 and 2015 , the Company expensed $30.3 million , $1.2 million and $7.0 million , respectively, of merger and acquisition costs. Estimates of the fair values of the tangible assets, identifiable intangibles and assumed liabilities require the Company to make significant assumptions to estimate market lease rates, property operating expenses, carrying costs during lease-up periods, discount rates, market absorption periods, and the number of years the property will be held for investment. The Company makes its best estimate based on the Company’s evaluation of the specific characteristics of each tenant’s lease. The use of inappropriate assumptions would result in an incorrect valuation of the Company’s acquired tangible assets, identifiable intangibles and assumed liabilities, which would impact the amount of the Company’s net income. Depreciation and Amortization Real estate costs related to the acquisition and improvement of properties are capitalized and amortized on a straight-line basis over the lesser of the expected useful life of the asset and the remaining lease term of any property subject to a ground lease. Tenant improvements are capitalized and amortized on a straight-line basis over the lesser of the expected useful life of the asset and the remaining lease term. Depreciation is discontinued when a property is identified as held for sale. Repair and maintenance costs are charged to expense as incurred and significant replacements and betterments are capitalized. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset. The Company considers the period of future benefit of an asset to determine its appropriate useful life. Depreciation of real estate assets and amortization of tenant origination and absorption costs and tenant relationship lease intangibles are included in depreciation and amortization on the accompanying consolidated statements of income. Amortization of above and below market lease intangibles is included in rental income on the accompanying consolidated statements of income. The Company anticipates the estimated useful lives of its assets by class to be generally as follows: land improvements, 3 to 40 years; buildings and building improvements, 3 to 40 years; and furniture and equipment, 1 to 20 years. Intangibles are generally amortized over the remaining noncancellable lease terms, with tenant relationship intangible amortization periods including extension periods of up to 10 years . Impairment of Real Estate Investments The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate investments may not be recoverable or realized. When indicators of potential impairment suggest that the carrying value of real estate investments may not be recoverable, the Company assesses the recoverability by estimating whether the Company will recover the carrying value of its real estate investments through the undiscounted future cash flows and the eventual disposition of the investment. In some instances, there may be various potential outcomes for an investment and its potential future cash flows. In these instances, the undiscounted future cash flows used to assess recoverability are probability-weighted based on the Company’s best estimates as of the date of evaluation. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of its real estate investments, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of its real estate investments.
Revenue Recognition	Revenue Recognition The Company recognizes rental revenue from tenants, including rental abatements, lease incentives and contractual fixed increases attributable to operating leases, on a straight-line basis over the term of the related leases when collectability is reasonably assured. Certain of the Company’s leases provide for contingent rents equal to a percentage of the facility’s revenue in excess of specified base amounts or other thresholds. Such revenue is recognized when actual results reported by the tenant, or estimates of tenant results, exceed the applicable base amount or other threshold. The Company makes estimates of the collectability of its tenant receivables related to base rents, straight-line rent and other revenues. When the Company analyzes accounts receivable and evaluates the adequacy of the allowance for doubtful accounts, it considers such things as historical bad debts, tenant creditworthiness, current economic trends, facility operating performance, lease structure, credit enhancements (including guarantees), current developments relevant to a tenant’s business specifically and to its business category generally, and changes in tenants’ payment patterns. Specifically for straight-line rent receivables, the Company’s assessment includes an estimation of a tenant’s ability to fulfill its rental obligations over the remaining lease term. In addition, with respect to tenants in bankruptcy, management makes estimates of the expected recovery of pre-petition and post-petition claims in assessing the estimated collectability of the related receivable. When a tenant is in bankruptcy, the Company records a provision for doubtful accounts for management’s estimate of the tenant’s receivable balance that is uncollectible and generally will not recognize subsequent rental revenue until cash is received or until the tenant is no longer in bankruptcy and has the ability to make rental payments. The Company’s collectability estimates for straight-line rent receivables include an assessment at the individual or master lease level as well as at an overall portfolio level. Revenue from resident fees and services is recorded monthly as services are provided and includes resident room and care charges and other resident charges.
Assets Held for Sale, DIspositions and Discontinued Operations	The Company generally considers real estate to be “held for sale” when the following criteria are met: (i) management commits to a plan to sell the property, (ii) the property is available for sale immediately, (iii) the property is actively being marketed for sale at a price that is reasonable in relation to its current fair value, (iv) the sale of the property within one year is considered probable and (v) significant changes to the plan to sell are not expected. Real estate that is held for sale and its related assets are classified as assets held for sale for all periods presented in the accompanying consolidated financial statements. Secured indebtedness and other liabilities related to real estate held for sale are classified as liabilities related to assets held for sale for all periods presented in the accompanying consolidated financial statements. Real estate classified as held for sale is no longer depreciated and is reported at the lower of its carrying value or its estimated fair value less estimated costs to sell. As of December 31, 2017 and 2016 , the Company did no t have any assets held for sale. The Company recognizes gain on sales of real estate upon closing of the transaction with the purchaser. The Company uses the full accrual method upon closing if collectability of the sales price is reasonably assured, the Company is not obligated to perform any significant activities after the sale, the Company has received adequate initial investment from the purchaser and other profit recognition criteria have been satisfied. Gain on sales of real estate may be deferred in whole or in part until all requirements for recognition have been met. Additionally, the Company records the operating results related to real estate that has been disposed of or classified as held for sale as discontinued operations for all periods presented if it represents a strategic shift that has or will have a major effect on the Company’s operations and financial results.
Net Investment in Direct Financing Lease	As of December 31, 2017 , the Company had a $23.0 million net investment in one skilled nursing/transitional care facility leased to an operator under a direct financing lease, as the tenant is obligated to purchase the property at the end of the lease term in 2021. The net investment in direct financing lease is recorded in accounts receivable, prepaid expenses and other assets, net on the accompanying consolidated balance sheets and represents the total undiscounted rental payments of $7.1 million , plus the estimated unguaranteed residual value of $24.7 million , less the unearned lease income of $8.8 million as of December 31, 2017 . Unearned lease income represents the excess of the minimum lease payments and residual values over the cost of the investment. Unearned lease income is deferred and amortized to income over the lease term to provide a constant yield when collectability of the lease payments is reasonably assured. Income from the Company’s net investment in direct financing lease was $1.0 million for the year ended December 31, 2017 and is reflected in interest and other income on the accompanying consolidated statements of income. Future minimum lease payments contractually due under the direct financing lease at December 31, 2017 , were as follows: $2.2 million for 2018; $2.2 million for 2019; $2.3 million for 2020; and $2.1 million for 2021.
Loans Receivable and Interest Income	Loans Receivable The Company’s loans receivable are reflected at amortized cost on the accompanying consolidated balance sheets. The amortized cost of a loan receivable is the outstanding unpaid principal balance, net of unamortized discounts, costs and fees directly associated with the origination of the loan. Loans acquired in connection with a business combination are recorded at their acquisition date fair value. The Company determines the fair value of loans receivable based on estimates of expected discounted cash flows, collateral, credit risk and other factors. The Company does not establish a valuation allowance at the acquisition date, as the amount of estimated future cash flows reflects its judgment regarding their uncertainty. The Company recognizes the difference between the acquisition date fair value and the total expected cash flows as interest income using the effective interest method over the life of the applicable loan. The Company immediately recognizes in income any unamortized balances if the loan is repaid before its contractual maturity. On a quarterly basis, the Company evaluates the collectability of its loan portfolio, including related interest income receivable, and establishes a reserve for loan losses. The Company’s evaluation includes reviewing credit quality indicators such as payment status, changes affecting the underlying real estate collateral (for collateral dependent loans), changes affecting the operations of the facilities securing the loans, and national and regional economic factors. The reserve for loan losses is a valuation allowance that reflects management’s estimate of loan losses inherent in the loan portfolio as of the balance sheet date. The reserve is adjusted through provision for doubtful accounts and loan losses on the Company’s consolidated statements of income and is decreased by charge-offs to specific loans when losses are confirmed. The reserve for loan losses includes an asset-specific component and a portfolio-based component. An asset-specific reserve relates to reserves for losses on loans considered impaired and interest income receivable that is deemed uncollectible. The Company considers a loan to be impaired when, based upon current information and events, management believes that it is probable that the Company will be unable to collect all amounts due under the contractual terms of the loan agreement resulting from the borrower’s failure to repay contractual amounts due, the granting of a concession by the Company or the expectation that the Company will receive assets with fair values less than the carrying value of the loan in satisfaction of the loan. If a loan is considered to be impaired, a reserve is established when the carrying value of that loan is greater than the present value of payments expected to be received, the observable market prices for similar instruments, the estimated fair value of the collateral (for loans that are dependent on the collateral for repayment) or other amounts expected to be received in satisfaction of the loan. A portfolio-based reserve covers the pool of loans that do not have asset-specific reserves. A provision for loan losses is recorded when available information as of each balance sheet date indicates that it is probable that a loss occurred in the pool of loans and the amount of the loss can be reasonably estimated, but the Company does not know which specific loans within the pool will ultimately result in losses. The required reserve balances for this pool of loans is derived based on estimated probabilities of default and estimated loss severities assuming a default occurs. Interest Income Interest income on the Company’s loans receivable is recognized on an accrual basis over the life of the investment using the interest method. Direct loan origination costs are amortized over the term of the loan as an adjustment to interest income. When concerns exist as to the ultimate collection of principal or interest due under a loan, the loan is placed on nonaccrual status, and the Company will not recognize interest income until the cash is received, or the loan returns to accrual status. If the Company determines that the collection of interest according to the contractual terms of the loan or through the receipts of assets in satisfaction of contractual amounts due is probable, the Company will resume the accrual of interest. In instances where borrowers are in default under the terms of their loans, the Company may continue recognizing interest income provided that all amounts owed under the contractual terms of the loan, including accrued and unpaid interest, do not exceed the estimated fair value of the collateral, less costs to sell.
Preferred Equity Investments and Preferred Return	Preferred equity investments are accounted for at unreturned capital contributions, plus accrued and unpaid preferred returns. The Company recognizes preferred return income on a monthly basis based on the outstanding investment including any previously accrued and unpaid return. As a preferred member of the preferred equity joint ventures in which the Company participates, the Company is not entitled to share in the joint venture’s earnings or losses. Rather, the Company is entitled to receive a preferred return, which is deferred if the cash flow of the joint venture is insufficient to currently pay the accrued preferred return.
Cash and Cash Equivalents	The Company considers all short-term (with an original maturity of three months or less), highly-liquid investments utilized as part of the Company’s cash-management activities to be cash equivalents. Cash equivalents may include cash and short-term investments. Short-term investments are stated at cost, which approximates fair value. The Company’s cash and cash equivalents balance exceeded federally insurable limits as of December 31, 2017 . To date, the Company has experienced no loss or lack of access to cash in its operating accounts. The Company has a corporate banking relationship with Bank of America, N.A. in which it deposits the majority of all funds.
Restricted Cash	Restricted cash primarily consists of amounts held by an exchange accommodation titleholder or by secured debt lenders to provide for future real estate tax expenditures, tenant improvements and capital expenditures. Pursuant to the terms of the Company’s leases with certain tenants, the Company has assigned its interests in certain of these restricted cash accounts with secured debt lenders to the tenants, and this amount is included in accounts payable and accrued liabilities on the Company’s consolidated balance sheets.
Stock-Based Compensation	Stock-based compensation expense for stock-based awards granted to Sabra’s employees and its non-employee directors is recognized in the statements of income based on the estimated grant date fair value, as adjusted. Compensation expense for awards with graded vesting schedules is generally recognized ratably over the period from the grant date to the date when the award is no longer contingent on the employee providing additional services. Compensation expense for awards with performance-based vesting conditions is recognized based on the Company’s estimate of the ultimate value of such award after considering the Company’s expectations of future performance. Forfeitures of stock-based awards are recognized as they occur.
Deferred Financing Costs	Deferred financing costs representing fees paid to third parties are amortized over the terms of the respective financing agreements using the interest method. Deferred financing costs related to secured debt, term loans and senior unsecured notes are recorded as a reduction of the related debt liability, and deferred financing costs related to the revolving credit facility are recorded in accounts receivable, prepaid expenses and other assets, net. Unamortized deferred financing costs are generally expensed when the associated debt is refinanced or repaid before maturity. Costs incurred in seeking financings that do not close are expensed in the period in which it is determined that the financing will not close.
Income Taxes	The Company elected to be treated as a REIT with the filing of its U.S. federal income tax return for the taxable year beginning January 1, 2011. The Company believes that it has been organized and operated, and it intends to continue to operate, in a manner to qualify as a REIT. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of the Company’s annual REIT taxable income to stockholders (which is computed without regard to the dividends-paid deduction or net capital gains and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax on income that it distributes as dividends to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to U.S. federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost, unless the Internal Revenue Service grants the Company relief under certain statutory provisions. Such an event could materially and adversely affect the Company’s net income and net cash available for distribution to stockholders. However, the Company believes that it is organized and operates in such a manner as to qualify for treatment as a REIT. As a result of certain investments, the Company now records income tax expense or benefit with respect to certain of its entities that are taxed as taxable REIT subsidiaries under provisions similar to those applicable to regular corporations and not under the REIT provisions. The Company accounts for deferred income taxes using the asset and liability method and recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the Company’s financial statements or tax returns. Under this method, the Company determines deferred tax assets and liabilities based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Any increase or decrease in the deferred tax liability that results from a change in circumstances, and that causes a change in the Company’s judgment about expected future tax consequences of events, is included in the tax provision when such changes occur. Deferred income taxes also reflect the impact of operating loss and tax credit carryforwards. A valuation allowance is provided if the Company believes it is more likely than not that all or some portion of the deferred tax asset will not be realized. Any increase or decrease in the valuation allowance that results from a change in circumstances, and that causes a change in the Company’s judgment about the realizability of the related deferred tax asset, is included in the tax provision when such changes occur. The Company evaluates its tax positions using a two step approach: step one (recognition) occurs when the Company concludes that a tax position, based solely on its technical merits, is more likely than not to be sustained upon examination and step two (measurement) is only addressed if step one has been satisfied (i.e., the position is more likely than not to be sustained). Under step two, the tax benefit is measured as the largest amount of benefit (determined on a cumulative probability basis) that is more likely than not to be realized upon ultimate settlement. The Company will recognize tax penalties relating to unrecognized tax benefits as additional tax expense.
Foreign Currency	Certain of the Company's subsidiaries’ functional currencies are the local currencies of their respective foreign jurisdictions. The Company translates the results of operations of its foreign subsidiaries into U.S. dollars using average rates of exchange in effect during the period presented, and it translates balance sheet accounts using exchange rates in effect at the end of the period presented. The Company records resulting currency translation adjustments in accumulated other comprehensive income (loss), a component of stockholders’ equity, on its consolidated balance sheets, and it records foreign currency transaction gains and losses as a component of interest and other income on its consolidated statements of income.
Derivative Instruments	The Company uses certain types of derivative instruments for the purpose of managing interest rate and currency risk. To qualify for hedge accounting, derivative instruments used for risk management purposes must effectively reduce the risk exposure that they are designed to hedge. In addition, at inception, the Company must make an assessment that the transaction that the Company intends to hedge is probable of occurring, and this assessment must be updated each reporting period. The Company recognizes all derivative instruments as assets or liabilities on the consolidated balance sheets at their fair value. For derivatives designated and qualified as a hedge, the change in fair value of the effective portion of the derivatives is recognized in accumulated other comprehensive income (loss), whereas the change in fair value of the ineffective portion is recognized in earnings. Changes in the fair value of derivative instruments that are not designated in hedging relationships or that do not meet the criteria for hedge accounting would be recognized in earnings. As of December 31, 2017 , all of the Company’s derivative instruments met the criteria for hedge accounting. The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objectives and strategy for undertaking various hedge transactions. This process includes designating all derivatives that are part of a hedging relationship to specific transactions as well as recognizing obligations or assets on the consolidated balance sheets. The Company also assesses and documents, both at inception of the hedging relationship and on a quarterly basis thereafter, whether the derivatives are highly effective in offsetting the designated risks associated with the respective hedged items. If it is determined that a derivative ceases to be highly effective as a hedge, or that it is probable the underlying transaction will not occur, the Company would discontinue hedge accounting prospectively and record the appropriate adjustment to earnings based on the then-current fair value of the derivative.
Fair Value Measurements	Under GAAP, the Company is required to measure certain financial instruments at fair value on a recurring basis. In addition, the Company is required to measure other financial instruments and balances at fair value on a non-recurring basis (e.g., carrying value of impaired loans receivable and long-lived assets). Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The GAAP fair value framework uses a three-tiered approach. Fair value measurements are classified and disclosed in one of the following three categories: • Level 1: unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities; • Level 2: quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and • Level 3: prices or valuation techniques where little or no market data is available that requires inputs that are both significant to the fair value measurement and unobservable. When available, the Company utilizes quoted market prices from an independent third-party source to determine fair value and classifies such items in Level 1 or Level 2. In instances where the market for a financial instrument is not active, regardless of the availability of a nonbinding quoted market price, observable inputs might not be relevant and could require the Company to make a significant adjustment to derive a fair value measurement. Additionally, in an inactive market, a market price quoted from an independent third party may rely more on models with inputs based on information available only to that independent third party. When the Company determines the market for a financial instrument owned by the Company to be illiquid or when market transactions for similar instruments do not appear orderly, the Company may use several valuation sources (including internal valuations, discounted cash flow analysis and quoted market prices) to establish a fair value. If more than one valuation source is used, the Company will assign weights to the various valuation sources. Additionally, when determining the fair value of liabilities in circumstances in which a quoted price in an active market for an identical liability is not available, the Company measures fair value using (i) a valuation technique that uses the quoted price of the identical liability when traded as an asset or quoted prices for similar liabilities or similar liabilities when traded as assets or (ii) another valuation technique that is consistent with the principles of fair value measurement, such as the income approach or the market approach. Changes in assumptions or estimation methodologies can have a material effect on these estimated fair values. In this regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, may not be realized in an immediate settlement of the instrument. The Company considers the following factors to be indicators of an inactive market: (i) there are few recent transactions, (ii) price quotations are not based on current information, (iii) price quotations vary substantially either over time or among market makers (for example, some brokered markets), (iv) indexes that previously were highly correlated with the fair values of the asset or liability are demonstrably uncorrelated with recent indications of fair value for that asset or liability, (v) there is a significant increase in implied liquidity risk premiums, yields, or performance indicators (such as delinquency rates or loss severities) for observed transactions or quoted prices when compared with the Company’s estimate of expected cash flows, considering all available market data about credit and other nonperformance risk for the asset or liability, (vi) there is a wide bid-ask spread or significant increase in the bid-ask spread, (vii) there is a significant decline or absence of a market for new issuances (that is, a primary market) for the asset or liability or similar assets or liabilities, and (viii) little information is released publicly (for example, a principal-to-principal market). The Company considers the following factors to be indicators of non-orderly transactions: (i) there was not adequate exposure to the market for a period before the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets or liabilities under current market conditions, (ii) there was a usual and customary marketing period, but the seller marketed the asset or liability to a single market participant, (iii) the seller is in or near bankruptcy or receivership (that is, distressed), or the seller was required to sell to meet regulatory or legal requirements (that is, forced), and (iv) the transaction price is an outlier when compared with other recent transactions for the same or similar assets or liabilities. 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 on the accompanying consolidated balance sheets at their amortized cost and not at fair value. The fair values of the loans receivable were estimated using an internal valuation model that considered the expected cash flows for the loans receivable, as well as the underlying collateral value and other credit enhancements as applicable. As such, the Company classifies these instruments as Level 3. Preferred equity investments : These instruments are presented on the accompanying consolidated balance sheets at their cost and not at fair value. The fair values 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 consolidated balance sheets. The Company estimates the fair value of derivative instruments, including its interest rate swaps and cross currency swaps, using the assistance of a third party using inputs that are observable in the market, which include 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 on the accompanying 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. Secured indebtedness : These instruments are presented on the accompanying 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 secured debt 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.
Per Share Data	Basic earnings per common share is computed by dividing net income applicable to common stockholders by the weighted average number of shares of common stock and common equivalents outstanding during the period. Diluted earnings per common share is calculated by including the effect of dilutive securities.
Industry Segments	The Company has one reportable segment consisting of investments in healthcare-related real estate properties.
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 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. The Company adopted ASU 2016-01 on January 1, 2018. The adoption of ASU 2016-01 did not have a material impact on the Company's consolidated financial statements. Between May 2014 and May 2016, the FASB issued three ASUs changing the requirements for recognizing and reporting revenue (together, herein referred to as the “Revenue ASUs”): (i) ASU No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), (ii) ASU No. 2016-08, Principal versus Agent Considerations (Reporting Revenue Gross versus Net) (“ASU 2016-08”) and (iii) ASU No. 2016-12, Narrow-Scope Improvements and Practical Expedients (“ASU 2016-12”). ASU 2014-09 provides guidance for revenue recognition to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2016-08 is intended to improve the operability and understandability of the implementation guidance on principal versus agent considerations. ASU 2016-12 provides practical expedients and improvements on the previously narrow scope of ASU 2014-09. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date (“ASU 2015-14”). ASU 2015-14 defers the effective date of ASU 2014-09 by one year to fiscal years, and interim periods within, beginning after December 15, 2017. All subsequent ASUs related to ASU 2014-09, including ASU 2016-08 and ASU 2016-12, assumed the deferred effective date enforced by ASU 2015-14. Early adoption of the Revenue ASUs is permitted for annual periods, and interim periods within, beginning after December 15, 2016. A reporting entity may apply the amendments in the Revenue ASUs using either a modified retrospective approach, by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption or full retrospective approach. The Revenue ASUs became effective for the Company on January 1, 2018 with the Company electing to use the modified retrospective approach for its adoption. As the primary source of revenue for the Company is generated through leasing and financing arrangements, which are excluded from the Revenue ASUs, the Company expects that the impact of the Revenue ASUs to its consolidated financial statements will be limited to the following: • A requirement to disclose ancillary resident service revenue that is not included in the monthly base fees charged under resident agreements through its Senior Housing - Managed communities structures. The Company will separately disclose the amount, nature and timing of these ancillary resident service revenues in its future quarterly and annual reports. • Under ASU 2017-05, Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20), revenue recognition for real estate sales is primarily based on the transfer of control versus continuing involvement under current guidance. Accordingly, the Company anticipates that the new guidance will result in more transactions qualifying as sales of real estate and gains on sale being recognized at an earlier date than under current accounting guidance. The adoptions of these ASUs had no material impact to beginning retained earnings as of January 1, 2018. 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. Entities currently are required to adopt the new lease requirements using a modified retrospective transition method whereby an entity initially applies the new lease requirements (subject to specific transition requirements and optional practical expedients) at the beginning of the earliest period presented in the financial statements. Upon adoption of ASU 2016-02, the Company will recognize its operating leases for which it is the lessee, mainly corporate office leases and ground leases, on its consolidated balance sheets. Further, as a result of adoption, the Company may be required to increase its revenue and expense for the amount of real estate taxes and insurance paid by its tenants under certain leasing arrangements with no net impact to net income. In January 2018, the FASB issued a proposed amendment to ASU 2016-02 that would allow lessors to elect, as a practical expedient, not to separate lease and nonlease components (such as services rendered) in a contract for the purpose of revenue recognition and disclosure. The practical expedient as proposed can only be applied to leasing arrangements for which (i) the timing and pattern of revenue recognition are the same for the lease and nonlease components and (ii) the combined single lease component results in classification as an operating lease. The proposed amendment also would provide for an additional (and optional) transition method to adopt the new lease requirements by allowing entities to initially apply the requirements by recognizing a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. If finalized by the FASB, the Company plans to elect this practical expedient and apply the transition method for its operating leases for which the Company is the lessee. The Company is still evaluating the full impact of the adoption of ASU 2016-02 on January 1, 2019 to its consolidated financial statements. 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. The Company adopted ASU 2016-15 on January 1, 2018. The adoption of this ASU did not have a material impact on the Company's consolidated financial statements. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (“ASU 2016-18”). ASU 2016-18 requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The amendments in ASU 2016-18 apply to all entities that have restricted cash or restricted cash equivalents and are required to present a statement of cash flows under Topic 230. The Company adopted ASU 2016-18 on January 1, 2018. The Company does not expect the adoption of ASU 2016-18 to have a material impact to its consolidated statements of cash flows as the Company does not expect to have material restricted cash activity in future periods. In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the definition of a business (“ASU 2017-01”). ASU 2017-01 clarifies the definition of a business with the objective of providing guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of businesses. When substantially all of the fair value of gross assets acquired is concentrated in a single asset (or a group of similar assets), the assets acquired would not represent a business. To be considered a business, an acquisition would have to include an input and a substantive process that together significantly contribute to the ability to create outputs. To be a business without outputs, there will now need to be an organized workforce. ASU 2017-01 is effective for fiscal years and interim periods within those years beginning after December 15, 2017, with early adoption permitted. The Company adopted ASU 2017-01 on October 1, 2016 on a prospective basis. The Company expects that the majority of its future acquisitions of real estate will be accounted for as asset acquisitions under the new guidance. This adoption will impact how the Company accounts for merger and acquisition costs and contingent consideration which may result in lower expensed merger and acquisition costs and eliminate fair value adjustments related to future contingent consideration arrangements. In May 2017, the FASB issued ASU 2017-09, Compensation—Stock compensation (Topic 718): Scope of modification accounting (“ASU 2017-09”). ASU 2017-09 clarifies and reduces both (1) diversity in practice and (2) cost and complexity when applying the guidance in Topic 718, Compensation—Stock Compensation, to a change to the terms or conditions of a share-based payment award. The amendments in ASU 2017-09 provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. The Company adopted ASU 2017-09 on January 1, 2018. The Company does not expect the adoption of ASU 2017-09 to have a material impact on its consolidated financial statements. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities (“ASU 2017-12”). ASU 2017-12 is intended to improve the financial reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its financial statements and to simplify the application of the hedge accounting guidance in current GAAP. ASU 2017-12 is effective for fiscal years and interim periods within those years beginning after December 15, 2018, with early adoption permitted. The Company plans to adopt ASU 2017-12 effective beginning January 1, 2018. ASU 2017-12 requires a modified retrospective transition method in which the Company will recognize the cumulative effect of the change on the opening balance of each affected component of equity in the consolidated balance sheet as of the date of adoption. While the Company continues to assess all potential impacts of the standard, the Company currently expects the adoption to have an immaterial impact on its consolidated financial statements.

CCP MERGER AND RECENT REAL ES32

CCP MERGER AND RECENT REAL ESTATE ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2017
Business Combinations [Abstract]
Purchase Price Allocation	The following table summarizes the purchase price allocation for the CCP Merger based on the Company's initial valuation, including estimates and assumptions of the acquisition date fair value of the tangible and intangible assets acquired and liabilities assumed on August 17, 2017 (in thousands): Real estate investments $ 3,727,310 Loans receivable and other investments 58,244 Cash and cash equivalents 77,859 Restricted cash 779 Lease intangible assets, net 145,786 Accounts receivable, prepaid expenses and other assets, net 35,873 Secured debt, net (98,500 ) Revolving credit facility (362,000 ) Unsecured term loans (674,000 ) Senior unsecured notes, net (616,873 ) Accounts payable and accrued liabilities (134,802 ) Lease intangible liabilities, net (102,643 ) Noncontrolling interests (4,455 ) Total consideration $ 2,052,578 During the year ended December 31, 2017 , in addition to the properties acquired as a result of the CCP Merger, the Company acquired 22 skilled nursing/transitional care facilities and two senior housing communities. During the year ended December 31, 2016 , the Company acquired one skilled nursing/transitional care facility and six senior housing communities. The consideration was allocated as follows (in thousands): Year Ended December 31, 2017 2016 Land $ 58,771 $ 7,755 Building and improvements 359,310 143,027 Tenant origination and absorption costs intangible assets 6,684 2,202 Tenant relationship intangible assets 2,053 642 Total consideration $ 426,818 $ 153,626

REAL ESTATE PROPERTIES HELD F33

REAL ESTATE PROPERTIES HELD FOR INVESTMENT (Tables)	12 Months Ended
	Dec. 31, 2017
Real Estate Investments, Net [Abstract]
Real Estate Properties Held for Investment	The Company’s real estate properties held for investment consisted of the following (dollars in thousands): As of December 31, 2017 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 384 43,223 $ 4,364,387 $ (209,039 ) $ 4,155,348 Senior Housing - Leased (1) 88 8,137 1,166,687 (102,370 ) 1,064,317 Senior Housing - Managed (1) 13 1,113 189,120 (12,125 ) 176,995 Specialty Hospitals and Other 22 1,085 614,068 (16,620 ) 597,448 507 53,558 6,334,262 (340,154 ) 5,994,108 Corporate Level 593 (269 ) 324 $ 6,334,855 $ (340,423 ) $ 5,994,432 As of December 31, 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 97 10,819 $ 1,042,754 $ (190,038 ) $ 852,716 Senior Housing - Leased (1) 83 7,855 1,153,739 (80,449 ) 1,073,290 Senior Housing - Managed (1) 2 134 34,212 (1,682 ) 32,530 Specialty Hospitals and Other 1 70 61,640 (10,387 ) 51,253 183 18,878 2,292,345 (282,556 ) 2,009,789 Corporate Level 406 (256 ) 150 $ 2,292,751 $ (282,812 ) $ 2,009,939 (1) During the year ended December 31, 2017, the Company transitioned nine senior housing communities into a managed property structure whereby the Company owns the operations of the communities and the communities are operated by a third-party property manager. December 31, 2017 December 31, 2016 Building and improvements $ 5,449,415 $ 1,983,769 Furniture and equipment 232,889 85,196 Land improvements 3,456 3,744 Land 649,095 220,042 6,334,855 2,292,751 Accumulated depreciation (340,423 ) (282,812 ) $ 5,994,432 $ 2,009,939
Summary of Revenue by External Customers	The following table provides information regarding significant tenant relationships representing 10% or more of the Company’s total revenues for the year ended December 31, 2017 (dollars in thousands): As of December 31, 2017 For the year ended December 31, 2017 Number of Investments % of Total Assets % of Total Investments (1) % of Total Revenues Genesis Healthcare, Inc. 54 3.5 % 5.9 % 19.8 %
Future Minimum Rental Payments from Non-Cancelable Operating Leases	As of December 31, 2017 , the future minimum rental payments from the Company’s properties held for investment under non-cancelable operating leases was as follows (in thousands): 2018 $ 559,864 2019 569,288 2020 560,252 2021 558,362 2022 552,610 Thereafter 2,928,902 $ 5,729,278

INTANGIBLE ASSETS AND LIABILI34

INTANGIBLE ASSETS AND LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets and Liabilities	The following table summarizes the Company’s intangible assets and liabilities as of December 31, 2017 and 2016 (in thousands): December 31, 2017 2016 Lease Intangible Assets: Above market leases $ 76,443 $ — Tenant origination and absorption costs 76,336 23,987 Tenant relationship 27,436 7,430 Gross lease intangible assets 180,215 31,417 Accumulated amortization (13,096 ) (5,167 ) Lease intangible assets, net $ 167,119 $ 26,250 Lease Intangible Liabilities: Below market leases $ 102,643 $ — Accumulated amortization (4,628 ) — Lease intangible liabilities, net $ 98,015 $ —
Summary of Real Estate Intangible Amortization	The following is a summary of real estate intangible amortization income (expense) for the years ended December 31, 2017 , 2016 and 2015 (in thousands): Year Ended December 31, 2017 2016 2015 Increase to rental income related to above/below market leases, net $ 912 $ — $ — Depreciation and amortization related to tenant origination and absorption costs and tenant relationship (11,822 ) (3,182 ) (3,195 )
Remaining Unamortized Balance for Outstanding Intangible Assets and Liabilities	The remaining unamortized balance for these outstanding intangible assets and liabilities as of December 31, 2017 will be amortized for the years ending December 31 as follows (dollars in thousands): Lease Intangible Lease Intangible 2018 $ 21,814 $ 13,588 2019 21,612 13,588 2020 18,482 12,328 2021 16,619 8,119 2022 15,193 7,227 Thereafter 73,399 43,165 $ 167,119 $ 98,015 Weighted-average remaining amortization period 10.5 years 9.8 years

LOANS RECEIVABLE AND OTHER IN35

LOANS RECEIVABLE AND OTHER INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2017
REAL ESTATE LOANS RECEIVABLE [Abstract]
Loans Receivable and Other Investments	As of December 31, 2017 and 2016 , the Company’s loans receivable and other investments consisted of the following (dollars in thousands): December 31, 2017 Investment Quantity Property Type Principal Balance as of December 31, 2017 (1) Book Value Book Value Weighted Average Contractual Interest Rate / Rate of Return Weighted Average Annualized Effective Interest Rate / Rate of Return Maturity Date Loans Receivable: Mortgage 2 Skilled Nursing / Senior Housing $ 13,366 $ 12,351 $ 38,262 9.9 % 11.3 % 12/31/18- 01/31/27 Construction 2 Senior Housing 2,667 2,733 842 8.0 % 7.7 % 03/31/21- 05/31/22 Mezzanine 2 Senior Housing 32,468 10,239 9,656 10.2 % 19.2 % 02/28/18- 05/25/20 Pre-development 1 Senior Housing 2,357 2,357 4,023 9.0 % 8.4 % 04/01/20 Other 15 Multiple 40,422 38,324 — 8.8 % 10.1 % 2/28/18- 04/30/27 Debtor-in-possession — Acute Care Hospital — — 813 N/A N/A N/A 22 91,280 66,004 53,596 9.4 % 11.6 % Loan loss reserve — (97 ) (2,750 ) $ 91,280 $ 65,907 $ 50,846 Other Investments: Preferred Equity 12 Skilled Nursing / Senior Housing 48,035 48,483 45,190 12.6 % 12.6 % N/A Total 34 $ 139,315 $ 114,390 $ 96,036 10.5 % 12.0 % (1) Principal balance includes amounts funded and accrued but unpaid interest/preferred return and excludes capitalizable fees.

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Dec. 31, 2017
Debt Instrument [Line Items]
Schedule of Maturities for Outstanding Debt	The following is a schedule of maturities for the Company’s outstanding debt as of December 31, 2017 (in thousands): Secured Indebtedness Revolving Credit Facility (1) Term Loans Senior Notes Total 2018 $ 4,301 $ — $ — $ — $ 4,301 2019 102,945 — — — 102,945 2020 4,594 — 200,000 — 204,594 2021 20,482 641,000 — 500,000 1,161,482 2022 4,285 — 999,587 — 1,003,872 Thereafter 122,595 — — 800,000 922,595 Total Debt 259,202 641,000 1,199,587 1,300,000 3,399,789 Premium, net — — — 15,915 15,915 Deferred financing costs, net (2,772 ) — (8,813 ) (9,629 ) (21,214 ) Total Debt, Net $ 256,430 $ 641,000 $ 1,190,774 $ 1,306,286 $ 3,394,490 (1) Revolving Credit Facility is subject to two six -month extension options
Secured Indebtedness
Debt Instrument [Line Items]
Debt	The Company’s secured debt consists of the following (dollars in thousands): Interest Rate Type Principal as of (1) Principal as of (1) Weighted Average Effective Interest Rate at (2) Maturity Date Fixed Rate $ 160,702 $ 163,638 3.87 % December 2021 - Variable Rate 98,500 — 3.36 % July 2019 $ 259,202 $ 163,638 3.68 % (1) Principal balance does not include deferred financing costs, net of $2.8 million and $2.9 million as of December 31, 2017 and 2016 , respectively. (2) Weighted average effective interest rate includes private mortgage insurance.
Senior Unsecured Notes
Debt Instrument [Line Items]
Debt	The Company’s senior unsecured notes consist of the following (dollars in thousands): Principal Balance as of December 31, Title Maturity Date 2017 (1) 2016 (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 5.125% senior unsecured notes due 2026 (“2026 Notes”) August 15, 2026 500,000 — 5.38% senior unsecured notes due 2027 (“2027 Notes”) May 17, 2027 100,000 — $ 1,300,000 $ 700,000 (1) Principal balance does not include premium, net of $15.9 million and deferred financing costs, net of $9.6 million as of December 31, 2017 and does not include discount, net of $0.5 million and deferred financing costs, net of $11.2 million as of December 31, 2016 .

DERIVATIVE AND HEDGING INSTRU37

DERIVATIVE AND HEDGING INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Notional Amounts of Derivative Instruments	The following presents the notional amount of derivatives instruments as of the dates indicated (in thousands): December 31, 2017 December 31, 2016 Derivatives designated as cash flow hedges: Denominated in U.S. Dollars $ 845,000 $ 245,000 Denominated in Canadian Dollars $ 125,000 $ 125,000 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 $ 125,000
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 December 31, 2017 and 2016 (dollars in thousands): Count as of December 31, 2017 Fair Value Maturity Dates December 31, Type Designation 2017 2016 Balance Sheet Location Assets: Interest rate swap Cash Flow 12 $ 25,221 $ 8,083 2020 - 2023 Accounts receivable, prepaid expenses and other assets, net Cross currency interest rate swaps Net Investment 2 674 3,157 2025 Accounts receivable, prepaid expenses and other assets, net $ 25,895 $ 11,240 Liabilities: Interest rate swap Cash Flow — $ — $ 716 2020 Accounts payable and accrued liabilities CAD term loan Net Investment 1 99,588 93,000 2022 Term loans, net $ 99,588 $ 93,716
Effect of Derivatives and Financial Instruments Designated as Hedging Instruments on Income and Equity	The following presents the effect of the Company’s derivative and financial instruments designated as hedging instruments on the consolidated statements of income and the consolidated statements of equity for years ended December 31, 2017 , 2016 and 2015 : Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion) Gain (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income (Effective Portion) Income Statement Location For the year ended December 31, 2017 2016 2015 2017 2016 2015 Cash Flow Hedges: Interest rate products $ 10,807 $ 5,879 $ (4,764 ) $ (2,174 ) $ (1,360 ) $ (319 ) Interest expense Net Investment Hedges: Foreign currency products (2,378 ) (2,085 ) 5,476 — — — N/A CAD term loan (6,588 ) (3,750 ) (8,352 ) — — — N/A $ 1,841 $ 44 $ (7,640 ) $ (2,174 ) $ (1,360 ) $ (319 )
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 December 31, 2017 and 2016 (in thousands): As of December 31, 2017 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 $ 25,895 $ — $ 25,895 $ — $ — $ 25,895 Offsetting Liabilities: Derivatives $ — $ — $ — $ — $ — $ — As of December 31, 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 $ 11,240 $ — $ 11,240 $ (716 ) $ — $ 10,524 Offsetting Liabilities: Derivatives $ 716 $ — $ 716 $ (716 ) $ — $ —
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 December 31, 2017 and 2016 (in thousands): As of December 31, 2017 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 $ 25,895 $ — $ 25,895 $ — $ — $ 25,895 Offsetting Liabilities: Derivatives $ — $ — $ — $ — $ — $ — As of December 31, 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 $ 11,240 $ — $ 11,240 $ (716 ) $ — $ 10,524 Offsetting Liabilities: Derivatives $ 716 $ — $ 716 $ (716 ) $ — $ —

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	12 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
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 December 31, 2017 and 2016 whose carrying amounts do not approximate their fair value (in thousands): December 31, 2017 December 31, 2016 Face (1) Carrying (2) Fair Face (1) Carrying (2) Fair Financial assets: Loans receivable $ 91,280 $ 65,907 $ 65,892 $ 53,484 $ 50,846 $ 51,914 Preferred equity investments 48,035 48,483 47,064 44,882 45,190 48,332 Financial liabilities: Senior Notes 1,300,000 1,306,286 1,329,191 700,000 688,246 709,500 Secured indebtedness 259,202 256,430 246,461 163,638 160,752 150,091 (1) Face value represents amounts contractually due under the terms of the respective agreements. (2) Carrying amount represents the book value of financial instruments, including unamortized premiums/discounts and deferred financing costs.
Inputs Used for Valuation of Financial Instruments	The Company determined the fair value of financial instruments as of December 31, 2017 whose carrying amounts do not approximate their fair value with valuation methods utilizing the following types of inputs (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Financial assets: Loans receivable $ 65,892 $ — $ — $ 65,892 Preferred equity investments 47,064 — — 47,064 Financial liabilities: Senior Notes 1,329,191 — 1,329,191 — Secured indebtedness 246,461 — — 246,461
Amounts Measured at Fair Value	During the year ended December 31, 2017 , the Company recorded the following amounts measured at fair value (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Recurring Basis: Financial assets: Interest rate swap $ 25,221 $ — $ 25,221 $ — Cross currency swap 674 — 674 —
Reconciliation of Contingent Consideration Liability	The following reconciliation provides the details of activity for the 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 (1,876 ) Foreign currency translation (6 ) Balance as of December 31, 2016 $ 818 Decrease in contingent consideration liability (426 ) Payment of contingent consideration liability (382 ) Foreign currency translation (10 ) Balance as of December 31, 2017 $ —
Reconciliation of Contingent Consideration Asset	The following reconciliation provides the details of activity for the 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 December 31, 2016 $ —

EQUITY (Tables)

EQUITY (Tables)	12 Months Ended
	Dec. 31, 2017
Equity [Abstract]
Summary of Accumulated Other Comprehensive Loss	The following is a summary of the Company’s accumulated other comprehensive income (loss) (in thousands): Year Ended December 31, 2017 2016 Foreign currency translation $ (2,913 ) $ (3,067 ) Unrealized gains on cash flow hedges 14,202 1,269 Total accumulated other comprehensive income (loss) $ 11,289 $ (1,798 )

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Additional Information Concerning Restricted Stock Units	The following table summarizes additional information concerning restricted stock units at December 31, 2017 : Restricted Stock Units Weighted Average Grant Date Fair Value Per Unit Unvested as of December 31, 2016 903,967 $ 21.58 Granted 576,357 19.38 Vested (333,338 ) 25.30 Dividends reinvested 64,873 21.17 Cancelled/forfeited (86,372 ) 20.61 Unvested as of December 31, 2017 1,125,487 $ 19.71
Summary of Assumptions Used in Total Stockholder Return-Based Stock Units Valuation	The following are the key assumptions used in this valuation: 2017 2016 2015 Risk free interest rate 1.42% - 1.99% 0.78% - 1.60% 0.87% - 1.31% Expected stock price volatility 28.86% - 30.97% 27.40% - 28.42% 23.55% - 27.02% Expected service period 2.2 - 3.0 years 2.3 - 3.0 years 2.5 - 3.0 years Expected dividend yield (assuming full reinvestment) — % — % — %

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Reconciliation of Unrecognized Tax Benefits	The following is a reconciliation of the Company’s beginning and ending unrecognized tax benefits (in thousands): Balance at December 31, 2015 $ 24,212 Additions (reductions) based on prior years’ tax positions (24,212 ) Additions (reductions) based on 2016 tax positions — Balance at December 31, 2016 $ — Additions (reductions) based on prior years’ tax positions — Additions (reductions) based on 2017 tax positions — Balance at December 31, 2017 $ —

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	12 Months Ended
	Dec. 31, 2017
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table illustrates the computation of basic and diluted earnings per share (in thousands, except share and per share amounts): Year Ended December 31, 2017 2016 2015 Numerator Net income attributable to common stockholders $ 148,141 $ 60,034 $ 69,171 Denominator Basic weighted average common shares and common equivalents 105,621,242 65,284,251 62,235,014 Dilutive stock options and restricted stock units 221,192 236,421 225,225 Diluted weighted average common shares 105,842,434 65,520,672 62,460,239 Net income attributable to common stockholders, per: Basic common share $ 1.40 $ 0.92 $ 1.11 Diluted common share $ 1.40 $ 0.92 $ 1.11

SUMMARIZED CONSOLIDATING INFO43

SUMMARIZED CONSOLIDATING INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2017
Summarized Condensed Consolidating Information [Abstract]
Consolidating Balance Sheet	CONSOLIDATING BALANCE SHEET December 31, 2017 (in thousands, except share and per share amounts) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating (2) Sabra Capital (3) Combined (4) Combined Non- (5) Elimination Consolidated Assets Real estate investments, net of accumulated depreciation $ 324 $ — $ — $ 1,756,933 $ 4,237,175 $ — $ 5,994,432 Loans receivable and other investments, net (97 ) — — 55,297 59,190 — 114,390 Cash and cash equivalents 511,670 — — 449 6,513 — 518,632 Restricted cash — — — 36,910 31,907 — 68,817 Lease intangible assets, net — — — 17,577 149,542 — 167,119 Accounts receivable, prepaid expenses and other assets, net 3,499 36,073 — 80,739 53,765 (5,189 ) 168,887 Intercompany 2,043,402 2,721,979 — — — (4,765,381 ) — Investment in subsidiaries 890,462 1,198,305 — 14,661 — (2,103,428 ) — Total assets $ 3,449,260 $ 3,956,357 $ — $ 1,962,566 $ 4,538,092 $ (6,873,998 ) $ 7,032,277 Liabilities Secured debt, net $ — $ — $ — $ — $ 256,430 $ — $ 256,430 Revolving credit facility — 641,000 — — — — 641,000 Term loans, net — 1,092,397 — 98,377 — — 1,190,774 Senior unsecured notes, net — 1,306,286 — — — — 1,306,286 Accounts payable and accrued liabilities 16,453 26,212 — 3,560 61,487 (5,189 ) 102,523 Lease intangible liabilities, net — — — — 98,015 — 98,015 Intercompany — — — 785,120 3,980,261 (4,765,381 ) — Total liabilities 16,453 3,065,895 — 887,057 4,396,193 (4,770,570 ) 3,595,028 Total Sabra Health Care REIT, Inc. stockholders’ equity 3,432,807 890,462 — 1,075,509 137,457 (2,103,428 ) 3,432,807 Noncontrolling interests — — — — 4,442 — 4,442 Total equity 3,432,807 890,462 — 1,075,509 141,899 (2,103,428 ) 3,437,249 Total liabilities and equity $ 3,449,260 $ 3,956,357 $ — $ 1,962,566 $ 4,538,092 $ (6,873,998 ) $ 7,032,277 (1) The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes. (4) The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes. CONSOLIDATING BALANCE SHEET December 31, 2016 (in thousands, except share and per share amounts) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating (2) Sabra Capital (3) Combined (4) Combined Non- (5) Elimination Consolidated Assets Real estate investments, net of accumulated depreciation $ 150 $ — $ — $ 1,860,850 $ 148,939 $ — $ 2,009,939 Loans receivable and other investments, net (410 ) — — 96,446 — — 96,036 Cash and cash equivalents 18,168 — — 2,675 4,820 — 25,663 Restricted cash — — — 57 8,945 — 9,002 Lease intangible assets, net — — — 25,489 761 — 26,250 Accounts receivable, prepaid expenses and other assets, net 2,859 18,023 — 70,812 9,244 (1,909 ) 99,029 Intercompany 368,281 687,493 — — 25,125 (1,080,899 ) — Investment in subsidiaries 640,238 907,136 — 12,364 — (1,559,738 ) — Total assets $ 1,029,286 $ 1,612,652 $ — $ 2,068,693 $ 197,834 $ (2,642,546 ) $ 2,265,919 Liabilities Secured debt, net $ — $ — $ — $ — $ 160,752 $ — $ 160,752 Revolving credit facility — 26,000 — — — — 26,000 Term loans, net — 243,626 — 92,047 — — 335,673 Senior unsecured notes, net — 688,246 — — — — 688,246 Accounts payable and accrued liabilities 13,712 14,542 — 11,606 1,688 (1,909 ) 39,639 Intercompany — — — 1,080,899 — (1,080,899 ) — Total liabilities 13,712 972,414 — 1,184,552 162,440 (1,082,808 ) 1,250,310 Total Sabra Health Care REIT, Inc. stockholders’ equity 1,015,574 640,238 — 884,141 35,359 (1,559,738 ) 1,015,574 Noncontrolling interests — — — — 35 — 35 Total equity 1,015,574 640,238 — 884,141 35,394 (1,559,738 ) 1,015,609 Total liabilities and equity $ 1,029,286 $ 1,612,652 $ — $ 2,068,693 $ 197,834 $ (2,642,546 ) $ 2,265,919 (1) The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes. (4) The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes.
Consolidating Statement of Income	CONSOLIDATING STATEMENT OF INCOME For the Year Ended December 31, 2017 (in thousands, except share and per share amounts) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating (2) Sabra Capital (3) Combined (4) Combined Non- (5) Elimination Consolidated Revenues: Rental income $ — $ — $ — $ 213,162 $ 158,542 $ (7,513 ) $ 364,191 Interest and other income 39 143 — 9,098 5,907 (161 ) 15,026 Resident fees and services — — — — 26,430 — 26,430 Total revenues 39 143 — 222,260 190,879 (7,674 ) 405,647 Expenses: Depreciation and amortization 867 — — 67,723 45,292 — 113,882 Interest — 77,767 — 2,989 7,827 (143 ) 88,440 Operating expenses — — — — 25,391 (7,531 ) 17,860 General and administrative 24,810 65 — 3,854 3,672 — 32,401 Merger and acquisition costs 30,208 — — 47 — — 30,255 Provision for doubtful accounts and loan losses 227 — — 16,886 — — 17,113 Impairment of real estate — — — 1,326 — — 1,326 Total expenses 56,112 77,832 — 92,825 82,182 (7,674 ) 301,277 Other income (expense): Loss on extinguishment of debt — (422 ) — (131 ) — — (553 ) Other income (expense) 2,634 1,130 — (617 ) 23 — 3,170 Net (loss) gain on sales of real estate — — — 54,627 (2,598 ) — 52,029 Total other income (expense) 2,634 708 — 53,879 (2,575 ) — 54,646 Income in subsidiary 212,432 289,414 — 7,199 — (509,045 ) — Income before income tax expense 158,993 212,433 — 190,513 106,122 (509,045 ) 159,016 Income tax (expense) recovery (610 ) (1 ) — (139 ) 99 — (651 ) Net income 158,383 212,432 — 190,374 106,221 (509,045 ) 158,365 Net loss attributable to noncontrolling interests — — — — 18 — 18 Net income attributable to Sabra Health Care REIT, Inc. 158,383 212,432 — 190,374 106,239 (509,045 ) 158,383 Preferred stock dividends (10,242 ) — — — — — (10,242 ) Net income attributable to common stockholders $ 148,141 $ 212,432 $ — $ 190,374 $ 106,239 $ (509,045 ) $ 148,141 Net income attributable to common stockholders, per: Basic common share $ 1.40 Diluted common share $ 1.40 Weighted-average number of common shares outstanding, basic 105,621,242 Weighted-average number of common shares outstanding, diluted 105,842,434 (1) The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes. (4) The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes. CONSOLIDATING STATEMENT OF INCOME For the Year Ended December 31, 2016 (in thousands, except share and per share amounts) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating (2) Sabra Capital (3) Combined (4) Combined Non- (5) Elimination Consolidated Revenues: Rental income $ — $ — $ — $ 206,897 $ 20,706 $ (2,328 ) $ 225,275 Interest and other income 3 — — 27,712 1 (253 ) 27,463 Resident fees and services — — — — 7,788 — 7,788 Total revenues 3 — — 234,609 28,495 (2,581 ) 260,526 Expenses: Depreciation and amortization 816 — — 61,371 6,285 — 68,472 Interest — 54,589 — 3,497 6,787 — 64,873 Operating expenses — — — — 8,066 (2,363 ) 5,703 General and administrative 15,798 56 — 1,652 166 — 17,672 Merger and acquisition costs (7 ) — — 1,204 — — 1,197 Provision for doubtful accounts and loan losses (1,376 ) — — 6,498 421 — 5,543 Impairment of real estate — — — 29,811 — — 29,811 Total expenses 15,231 54,645 — 104,033 21,725 (2,363 ) 193,271 Other income (expense): Loss on extinguishment of debt — (468 ) — (88 ) — — (556 ) Other income (expense) 7,366 (196 ) — 3,507 — — 10,677 Net loss on sales of real estate — — — (6,143 ) 21 — (6,122 ) Total other income (expense) 7,366 (664 ) — (2,724 ) 21 — 3,999 Income in subsidiary 78,783 134,093 — 6,840 — (219,716 ) — Income before income tax expense 70,921 78,784 — 134,692 6,791 (219,934 ) 71,254 Income tax expense (427 ) (1 ) — (538 ) (83 ) — (1,049 ) Net income 70,494 78,783 — 134,154 6,708 (219,934 ) 70,205 Net loss attributable to noncontrolling interests — — — — 71 — 71 Net income attributable to Sabra Health Care REIT, Inc. 70,494 78,783 — 134,154 6,779 (219,934 ) 70,276 Preferred stock dividends (10,242 ) — — — — — (10,242 ) Net income attributable to common stockholders $ 60,252 $ 78,783 $ — $ 134,154 $ 6,779 $ (219,934 ) $ 60,034 Net income attributable to common stockholders, per: Basic common share $ 0.92 Diluted common share $ 0.92 Weighted-average number of common shares outstanding, basic 65,284,251 Weighted-average number of common shares outstanding, diluted 65,520,672 (1) The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes. (4) The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes. CONSOLIDATING STATEMENT OF INCOME For the Year Ended December 31, 2015 (in thousands, except share and per share amounts) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating (2) Sabra Capital (3) Combined (4) Combined Non- (5) Elimination Consolidated Revenues: Rental income $ — $ — $ — $ 190,582 $ 20,470 $ (1,201 ) $ 209,851 Interest and other income 2 334 — 25,472 1 (304 ) 25,505 Resident fee and services — — — — 3,508 — 3,508 Total revenues 2 334 — 216,054 23,979 (1,505 ) 238,864 Expenses: Depreciation and amortization 47 — — 57,141 5,891 — 63,079 Interest — 52,208 — 1,553 5,718 (261 ) 59,218 Operating expenses — — — — 3,789 (1,213 ) 2,576 General and administrative 14,485 29 — 1,411 168 — 16,093 Merger and acquisition costs (14 ) — — 6,868 169 — 7,023 Provision for doubtful accounts and write-offs 1,291 — — 11,551 — — 12,842 Total expenses 15,809 52,237 — 78,524 15,735 (1,474 ) 160,831 Other income (expense): Other income — 1,651 — 609 — — 2,260 Gain on sale of real estate — — — (161 ) — — (161 ) Total other income (expense) — 1,651 — 448 — — 2,099 Income in subsidiary 95,690 145,943 — 8,368 — (250,001 ) — Income before income tax expense 79,883 95,691 — 146,346 8,244 (250,032 ) 80,132 Income tax expense (439 ) (1 ) — (284 ) (25 ) — (749 ) Net income 79,444 95,690 — 146,062 8,219 (250,032 ) 79,383 Net loss attributable to noncontrolling interests — — — — 30 — 30 Net income attributable to Sabra Health Care REIT, Inc. 79,444 95,690 — 146,062 8,249 (250,032 ) 79,413 Preferred stock dividends (10,242 ) — — — — — (10,242 ) Net income attributable to common stockholders $ 69,202 $ 95,690 $ — $ 146,062 $ 8,249 $ (250,032 ) $ 69,171 Net income attributable to common stockholders, per: Basic common share $ 1.11 Diluted common share $ 1.11 Weighted-average number of common shares outstanding, basic 62,235,014 Weighted-average number of common shares outstanding, diluted 62,460,239 (1) The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes. (4) The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes.
Consolidating Statement of Comprehensive Income	CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Year Ended December 31, 2017 (in thousands) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating (2) Sabra Capital (3) Combined (4) Combined Non- (5) Elimination Consolidated Net income $ 158,383 $ 212,432 $ — $ 190,374 $ 106,221 $ (509,045 ) $ 158,365 Other comprehensive income (loss): Unrealized gain (loss), net of tax: Foreign currency translation (loss) gain — (2,821 ) — 2,233 742 — 154 Unrealized gain (loss) on cash flow hedge — 13,078 — (145 ) — — 12,933 Total other comprehensive income — 10,257 — 2,088 742 — 13,087 Comprehensive income 158,383 222,689 — 192,462 106,963 (509,045 ) 171,452 Comprehensive loss attributable to noncontrolling interests — — — — 18 — 18 Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 158,383 $ 222,689 $ — $ 192,462 $ 106,981 $ (509,045 ) $ 171,470 (1) The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes. (4) The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes. CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Year Ended December 31, 2016 (in thousands) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating (2) Sabra Capital (3) Combined (4) Combined Non- (5) Elimination Consolidated Net income $ 70,494 $ 78,783 $ — $ 134,154 $ 6,708 $ (219,934 ) $ 70,205 Other comprehensive income (loss): Unrealized gain (loss), net of tax: Foreign currency translation gain (loss) — (2,080 ) — 364 82 — (1,634 ) Unrealized gain (loss) on cash flow hedge — 7,169 — — — — 7,169 Total other comprehensive income (loss) — 5,089 — 364 82 — 5,535 Comprehensive income 70,494 83,872 — 134,518 6,790 (219,934 ) 75,740 Comprehensive loss attributable to noncontrolling interests — — — — 71 — 71 Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 70,494 $ 83,872 $ — $ 134,518 $ 6,861 $ (219,934 ) $ 75,811 (1) The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes. (4) The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes. CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Year Ended December 31, 2015 (in thousands) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating (2) Sabra Capital (3) Combined (4) Combined Non- (5) Elimination Consolidated Net income $ 79,444 $ 95,690 $ — $ 146,062 $ 8,219 $ (250,032 ) $ 79,383 Other comprehensive income (loss): Unrealized gain (loss), net of tax: Foreign currency translation gain (loss) — 5,542 — (5,507 ) (1,468 ) — (1,433 ) Unrealized gain (loss) on cash flow hedges — (4,358 ) — — — — (4,358 ) Total other comprehensive income (loss) — 1,184 — (5,507 ) (1,468 ) — (5,791 ) Comprehensive income 79,444 96,874 — 140,555 6,751 (250,032 ) 73,592 Comprehensive loss attributable to noncontrolling interests — — — — 30 — 30 Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 79,444 $ 96,874 $ — $ 140,555 $ 6,781 $ (250,032 ) $ 73,622 (1) The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes. (4) The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes.
Consolidating Statement of Cash Flows	CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2017 (in thousands) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating (2) Sabra Capital (3) Combined (4) Combined Non- (5) Elimination Consolidated Net cash provided by operating activities $ 59,640 $ — $ — $ 61,744 $ 12,102 $ — $ 133,486 Cash flows from investing activities: Acquisition of real estate — — — (419,905 ) — — (419,905 ) Cash received in CCP Merger 77,859 — — — — — 77,859 Origination and fundings of loans receivable — — — (1,799 ) (15,440 ) — (17,239 ) Origination and fundings of preferred equity investments — — — (2,749 ) — — (2,749 ) Additions to real estate (181 ) — — (2,339 ) (4,434 ) — (6,954 ) Repayment of loans receivable — — — 12,441 19,989 — 32,430 Repayment of preferred equity investments — — — 3,755 — — 3,755 Net proceeds from sale of real estate — — — 92,337 394 — 92,731 Distribution from subsidiaries 2,474 2,474 — — — (4,948 ) — Intercompany financing 168,999 (249,664 ) — — — 80,665 — Net cash provided by (used in) investing activities 249,151 (247,190 ) — (318,259 ) 509 75,717 (240,072 ) Cash flows from financing activities: Net repayments of revolving credit facility — 253,000 — — — — 253,000 Proceeds from term loans — 181,000 — — — — 181,000 Principal payments on secured debt — — — — (4,145 ) — (4,145 ) Payments of deferred financing costs — (15,337 ) — — — — (15,337 ) Payment of contingent consideration — — — (382 ) — — (382 ) Distribution to noncontrolling interest — — — — (30 ) — (30 ) Issuance of preferred stock — — — — — — — Issuance of common stock, net 366,800 — — — — — 366,800 Dividends paid on common and preferred stock (182,089 ) — — — — — (182,089 ) Distribution to parent — (2,474 ) — — (2,474 ) 4,948 — Intercompany financing — (168,999 ) — 254,608 (4,944 ) (80,665 ) — Net cash provided by (used in) financing activities 184,711 247,190 — 254,226 (11,593 ) (75,717 ) 598,817 Net increase (decrease) in cash and cash equivalents 493,502 — — (2,289 ) 1,018 — 492,231 Effect of foreign currency translation on cash and cash equivalents — — — 63 675 — 738 Cash and cash equivalents, beginning of period 18,168 — — 2,675 4,820 — 25,663 Cash and cash equivalents, end of period $ 511,670 $ — $ — $ 449 $ 6,513 $ — $ 518,632 (1) The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes. (4) The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes. CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2016 (in thousands) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating (2) Sabra Capital (3) Combined (4) Combined Non- (5) Elimination Consolidated Net cash provided by operating activities $ 153,577 $ — $ — $ 12,074 $ 11,088 $ — $ 176,739 Cash flows from investing activities: Acquisition of real estate — — — (153,579 ) — — (153,579 ) Origination and fundings of loans receivable — — — (9,675 ) — — (9,675 ) Origination and fundings of preferred equity investments — — — (7,348 ) — — (7,348 ) Additions to real estate (124 ) — — (502 ) (377 ) — (1,003 ) Repayment of loans receivable — — — 215,962 — — 215,962 Net proceeds from sale of real estate — — — 97,407 599 — 98,006 Investment in subsidiaries (200 ) (200 ) — — — 400 — Distribution from subsidiaries 6,404 6,404 — — — (12,808 ) — Intercompany financing (23,484 ) 165,842 — — — (142,358 ) — Net cash (used in) provided by investing activities (17,404 ) 172,046 — 142,265 222 (154,766 ) 142,363 Cash flows from financing activities: Net repayments of revolving credit facility — (229,000 ) — — — — (229,000 ) Proceeds from term loans — 45,000 — 24,360 — — 69,360 Principal payments on secured debt — — — (10,766 ) (4,002 ) — (14,768 ) Payments of deferred financing costs — (5,326 ) — (611 ) — — (5,937 ) Issuance of common stock, net (1,289 ) — — — — — (1,289 ) Dividends paid on common and preferred stock (119,264 ) — — — — — (119,264 ) Contribution from parent — 200 — — 200 (400 ) — Distribution to parent — (6,404 ) — — (6,404 ) 12,808 — Intercompany financing — 23,484 — (165,175 ) (667 ) 142,358 — Net cash (used in) provided by financing activities (120,553 ) (172,046 ) — (152,192 ) (10,873 ) 154,766 (300,898 ) Net increase in cash and cash equivalents 15,620 — — 2,147 437 — 18,204 Effect of foreign currency translation on cash and cash equivalents — — — 72 (47 ) — 25 Cash and cash equivalents, beginning of period 2,548 — — 456 4,430 — 7,434 Cash and cash equivalents, end of period $ 18,168 $ — $ — $ 2,675 $ 4,820 $ — $ 25,663 (1) The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes. (4) The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes. CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2015 (in thousands) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating (2) Sabra Capital (3) Combined (4) Combined Non- (5) Elimination Consolidated Net cash provided by operating activities $ 112,291 $ — $ — $ 820 $ 7,990 $ — $ 121,101 Cash flows from investing activities: Acquisition of real estate — — — (450,082 ) (11,248 ) — (461,330 ) Origination and fundings of loans receivable — — — (49,687 ) — — (49,687 ) Origination and fundings of preferred equity investments — — — (12,804 ) — — (12,804 ) Additions to real estate (34 ) — — (1,286 ) (2,369 ) — (3,689 ) Repayment of loans receivable — — — 5,803 — — 5,803 Release of contingent consideration held in escrow — — — 5,240 — — 5,240 Net proceeds from the sale of real estate — — — 27,241 — — 27,241 Investment in subsidiaries (414 ) (414 ) — — — 828 — Distribution from subsidiaries 3,515 3,515 — — — (7,030 ) — Intercompany financing (200,884 ) (387,652 ) — — — 588,536 — Net cash (used in) provided by investing activities (197,817 ) (384,551 ) — (475,575 ) (13,617 ) 582,334 (489,226 ) Cash flows from financing activities: Net proceeds from revolving credit facility — 187,000 — — — — 187,000 Proceeds from term loans — — — 73,242 — — 73,242 Proceeds from secured debt — — — — 28,735 — 28,735 Principal payments on secured debt — — — — (3,132 ) — (3,132 ) Payments of deferred financing costs — (232 ) — (740 ) (480 ) — (1,452 ) Contributions by noncontrolling interests — — — — 179 — 179 Issuance of common stock, net 139,403 — — — — — 139,403 Dividends paid on common and preferred stock (109,897 ) — — — — — (109,897 ) Contribution from parent — 414 — — 414 (828 ) — Distribution to parent — (3,515 ) — — (3,515 ) 7,030 — Intercompany financing — 200,884 — 402,745 (15,093 ) (588,536 ) — Net cash provided by (used in) financing activities 29,506 384,551 — 475,247 7,108 (582,334 ) 314,078 Net (decrease) increase in cash and cash equivalents (56,020 ) — — 492 1,481 — (54,047 ) Effect of foreign currency translation on cash and cash equivalents (231 ) — — (36 ) (45 ) — (312 ) Cash and cash equivalents, beginning of period 58,799 — — — 2,994 — 61,793 Cash and cash equivalents, end of period $ 2,548 $ — $ — $ 456 $ 4,430 $ — $ 7,434 (1) The Parent Company guarantees the 2021 Notes, the 2023 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2021 Notes and the 2023 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2021 Notes and the 2023 Notes. (4) The Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2021 Notes and the 2023 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes consist of the subsidiaries that do not guarantee the 2021 Notes and the 2023 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2021 Notes and the 2023 Notes guarantee the 2026 Notes.

PRO FORMA FINANCIAL INFORMATI44

PRO FORMA FINANCIAL INFORMATION (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2017
Pro Forma Financial Information [Abstract]
Summary 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, 2016 and 2015 , nor does it purport to predict the results of operations for future periods. Year Ended December 31, 2017 2016 (in thousands, except share and per share amounts) Revenues $ 631,041 $ 627,475 Net income attributable to common stockholders $ 292,551 $ 225,331 Net income attributable to common stockholders, per: Basic common share $ 1.78 $ 1.41 Diluted common share $ 1.78 $ 1.41 Weighted-average number of common shares outstanding, basic 164,361,139 159,319,612 Weighted-average number of common shares outstanding, diluted 164,582,331 159,556,033

BUSINESS (Details)

BUSINESS (Details)	Dec. 31, 2017$ / shares	Aug. 17, 2017$ / shares	Dec. 31, 2016$ / shares
Business [Line Items]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Care Capital Properties
Business [Line Items]
Common stock, par value (in dollars per share)		$ 0.01
Shares of Sabra common stock issued per share of CCP common stock (in shares)		1.123

SUMMARY OF SIGNIFICANT ACCOUN46

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
	Dec. 31, 2017USD ($)Propertyvariable_interest_entitySegmentInvestment	Dec. 31, 2016USD ($)Investment	Dec. 31, 2015USD ($)
Property, Plant and Equipment [Line Items]
Number of investments in loans accounted for as real estate joint ventures | Investment	0	0
Acquisition costs capitalized	$ 1,000,000	$ 300,000
Merger and acquisition costs	$ 30,255,000	1,197,000	$ 7,023,000
Extension period for tenant relationship intangible assets	10 years
Impairment losses on real estate investments	$ 1,326,000	29,811,000	$ 0
Assets held for sale	0	0
Restricted cash	68,817,000	9,002,000
Restricted cash held by exchange accommodation titleholder	$ 57,500,000
Number of reportable segments | Segment	1
Restricted Cash Obligations
Property, Plant and Equipment [Line Items]
Restricted cash	$ 6,500,000	6,800,000
Forest Park - Frisco
Property, Plant and Equipment [Line Items]
Impairment losses on real estate investments		$ 29,800,000
Land Improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives of assets	3 years
Land Improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives of assets	40 years
Buildings and Building Improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives of assets	3 years
Buildings and Building Improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives of assets	40 years
Furniture and Equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives of assets	1 year
Furniture and Equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives of assets	20 years
Skilled Nursing/Transitional Care
Property, Plant and Equipment [Line Items]
Impairment losses on real estate investments	$ 1,300,000
Net investment in direct financing lease	$ 23,000,000
Properties in direct financing lease | Property	1
Undiscounted rental payments	$ 7,100,000
Estimated unguaranteed residual value	24,700,000
Unearned lease income	8,800,000
Income from direct financing lease	1,000,000
Future minimum lease payments due 2018	2,200,000
Future minimum lease payments due 2019	2,200,000
Future minimum lease payments due 2020	2,300,000
Future minimum lease payments due 2021	$ 2,100,000
Primary Beneficiary
Property, Plant and Equipment [Line Items]
Number of variable interest entities | variable_interest_entity	19
Primary Beneficiary | Skilled Nursing/Transitional Care
Property, Plant and Equipment [Line Items]
Number of variable interest entities | variable_interest_entity	1
Primary Beneficiary | Exchange Accommodation Titleholder
Property, Plant and Equipment [Line Items]
Number of variable interest entities | variable_interest_entity	18

CCP MERGER AND RECENT REAL ES47

CCP MERGER AND RECENT REAL ESTATE ACQUISITIONS - Narrative (Details) $ in Thousands, shares in Millions	Aug. 17, 2017USD ($)PropertyfirmInvestmentshares	Dec. 31, 2017USD ($)PropertyFacilitiy	Dec. 31, 2016USD ($)Facilitiy	Dec. 31, 2015USD ($)
Business Acquisition [Line Items]
Total revenues		$ 405,647	$ 260,526	$ 238,864
Net income attributable to common stockholders		148,141	60,034	69,171
Merger and acquisition costs		30,255	1,197	$ 7,023
Care Capital Properties
Business Acquisition [Line Items]
Shares of Sabra common stock issued per share of CCP common stock (in shares)	1.123
Shares of common stock issued in merger (in shares) | shares	94
Number of acquired properties | Property	330
Number of loan receivable investments acquired | Investment	18
Number of specialty valuation firms | firm	1
Purchase price	$ 2,100,000
Total revenues		135,400
Net income attributable to common stockholders		87,000
Merger and acquisition costs		30,200
Care Capital Properties | Lease Intangible Assets
Business Acquisition [Line Items]
Finite-lived intangible assets, weighted average amortization period as of date of acquisition	10 years
Care Capital Properties | Senior Housing Communities
Business Acquisition [Line Items]
Number of acquired properties | Property	13
Care Capital Properties | Specialty Hospitals and Other
Business Acquisition [Line Items]
Number of acquired properties | Property	21
Care Capital Properties | Skilled Nursing/Transitional Care
Business Acquisition [Line Items]
Number of acquired properties | Property	296
Number of acquired properties leased | Property	1
Recent Real Estate Acquisitions
Business Acquisition [Line Items]
Total revenues		10,600	4,600
Net income attributable to common stockholders		$ 7,700	2,200
Merger and acquisition costs			$ 1,100
Recent Real Estate Acquisitions | Tenant origination and absorption costs
Business Acquisition [Line Items]
Finite-lived intangible assets, weighted average amortization period as of date of acquisition		13 years	15 years
Recent Real Estate Acquisitions | Tenant relationship
Business Acquisition [Line Items]
Finite-lived intangible assets, weighted average amortization period as of date of acquisition		23 years	25 years
Recent Real Estate Acquisitions | Senior Housing Communities
Business Acquisition [Line Items]
Number of real estate properties acquired		2	3
Number of real estate properties and businesses acquired | Facilitiy			6
Recent Real Estate Acquisitions | Skilled Nursing/Transitional Care
Business Acquisition [Line Items]
Number of real estate properties acquired | Facilitiy		22	1

CCP MERGER AND RECENT REAL ES48

CCP MERGER AND RECENT REAL ESTATE ACQUISITIONS - CCP Merger Purchase Price Allocation (Details) - Care Capital Properties $ in Thousands	Aug. 17, 2017USD ($)
Business Acquisition [Line Items]
Real estate investments	$ 3,727,310
Loans receivable and other investments	58,244
Cash and cash equivalents	77,859
Restricted cash	779
Lease intangible assets, net	145,786
Accounts receivable, prepaid expenses and other assets, net	35,873
Secured debt, net	(98,500)
Revolving credit facility	(362,000)
Unsecured term loans	(674,000)
Senior unsecured notes, net	(616,873)
Accounts payable and accrued liabilities	(134,802)
Lease intangible liabilities, net	(102,643)
Noncontrolling interests	(4,455)
Total consideration	$ 2,052,578

CCP MERGER AND RECENT REAL ES49

CCP MERGER AND RECENT REAL ESTATE ACQUISITIONS - Recent Real Estate Acquisitions Purchase Price Allocation (Details) - Recent Real Estate Acquisitions - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Land	$ 58,771	$ 7,755
Building and improvements	359,310	143,027
Total consideration	426,818	153,626
Tenant origination and absorption costs intangible assets
Business Acquisition [Line Items]
Lease intangible assets, net	6,684	2,202
Tenant relationship intangible assets
Business Acquisition [Line Items]
Lease intangible assets, net	$ 2,053	$ 642

REAL ESTATE PROPERTIES HELD F50

REAL ESTATE PROPERTIES HELD FOR INVESTMENT - Real Estate Properties Held for Investment (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)BedPropertyFacilitiy	Dec. 31, 2016USD ($)BedFacilitiy
Real Estate Properties [Line Items]
Building and improvements	$ 5,449,415	$ 1,983,769
Furniture and equipment	232,889	85,196
Land improvements	3,456	3,744
Land	649,095	220,042
Total Real Estate at Cost	6,334,855	2,292,751
Accumulated Depreciation	(340,423)	(282,812)
Total Real Estate Investments, Net	$ 5,994,432	$ 2,009,939
Number of units transitioned to managed property structure | Property	9
Operating Segments
Real Estate Properties [Line Items]
Number of Properties | Facilitiy	507	183
Number of Beds/Units | Bed	53,558	18,878
Total Real Estate at Cost	$ 6,334,262	$ 2,292,345
Accumulated Depreciation	(340,154)	(282,556)
Total Real Estate Investments, Net	$ 5,994,108	$ 2,009,789
Operating Segments | Skilled Nursing/Transitional Care
Real Estate Properties [Line Items]
Number of Properties | Facilitiy	384	97
Number of Beds/Units | Bed	43,223	10,819
Total Real Estate at Cost	$ 4,364,387	$ 1,042,754
Accumulated Depreciation	(209,039)	(190,038)
Total Real Estate Investments, Net	$ 4,155,348	$ 852,716
Operating Segments | Senior Housing - Leased
Real Estate Properties [Line Items]
Number of Properties | Facilitiy	88	83
Number of Beds/Units | Bed	8,137	7,855
Total Real Estate at Cost	$ 1,166,687	$ 1,153,739
Accumulated Depreciation	(102,370)	(80,449)
Total Real Estate Investments, Net	$ 1,064,317	$ 1,073,290
Operating Segments | Senior Housing - Managed
Real Estate Properties [Line Items]
Number of Properties | Facilitiy	13	2
Number of Beds/Units | Bed	1,113	134
Total Real Estate at Cost	$ 189,120	$ 34,212
Accumulated Depreciation	(12,125)	(1,682)
Total Real Estate Investments, Net	$ 176,995	$ 32,530
Operating Segments | Specialty Hospitals and Other
Real Estate Properties [Line Items]
Number of Properties | Facilitiy	22	1
Number of Beds/Units | Bed	1,085	70
Total Real Estate at Cost	$ 614,068	$ 61,640
Accumulated Depreciation	(16,620)	(10,387)
Total Real Estate Investments, Net	597,448	51,253
Corporate Level
Real Estate Properties [Line Items]
Total Real Estate at Cost	593	406
Accumulated Depreciation	(269)	(256)
Total Real Estate Investments, Net	$ 324	$ 150

REAL ESTATE PROPERTIES HELD F51

REAL ESTATE PROPERTIES HELD FOR INVESTMENT - Narrative (Details)	1 Months Ended	12 Months Ended
	Nov. 30, 2017USD ($)	Dec. 31, 2017USD ($)PropertyacquisitionFacilitiy	Dec. 31, 2016USD ($)Facilitiy	Jan. 01, 2018USD ($)
Real Estate Properties [Line Items]
Earn-out arrangements expired		1
Payout under earn-out arrangement		$ 0
Number of properties transitioned, earn out terminated | Property		8
Payment of contingent consideration	$ 400,000
Decrease in contingent consideration liability		$ 400,000	$ 1,500,000
Weighted average expiration period		9 years
Security deposit liability		$ 20,300,000	2,700,000
Letters of credit deposited		81,100,000	21,300,000
Deposits held for future real estate taxes, insurance expenditures and tenant improvement		28,300,000
Reserve for unpaid cash rents		3,200,000	3,200,000
Reserve associated with straight-line rental income		$ 12,400,000	$ 3,700,000
Genesis Healthcare, Inc.
Real Estate Properties [Line Items]
Number of properties | Facilitiy		54
Number of properties to be sold | Facilitiy		46
Number of properties to be retained | Facilitiy		8
Genesis Healthcare, Inc. | Subsequent Event
Real Estate Properties [Line Items]
Reduction of annual base rent				$ 19,000,000
Minimum
Real Estate Properties [Line Items]
Operating lease expiration period		1 year
Maximum
Real Estate Properties [Line Items]
Operating lease expiration period		15 years
Weighted Average
Real Estate Properties [Line Items]
Operating lease expiration period		9 years
Operating Segments
Real Estate Properties [Line Items]
Number of properties | Facilitiy		507	183
Operating Segments | Senior Housing - Managed
Real Estate Properties [Line Items]
Number of properties | Facilitiy		13	2
Acquisitions With Contingent Consideration Arrangements
Real Estate Properties [Line Items]
Number of real estate acquisitions | acquisition		3
Estimated earn-out value		$ 3,200,000

REAL ESTATE PROPERTIES HELD F52

REAL ESTATE PROPERTIES HELD FOR INVESTMENT - Summary of Revenue by External Customers (Details) - Genesis Healthcare, Inc.	12 Months Ended
	Dec. 31, 2017Facilitiy
Concentration Risk [Line Items]
Number of Investments	54
% of Total Assets | Customer Concentration Risk
Concentration Risk [Line Items]
Percentage of concentration risk	3.50%
% of Total Investments | Customer Concentration Risk
Concentration Risk [Line Items]
Percentage of concentration risk	5.90%
% of Total Revenues | Customer Concentration Risk
Concentration Risk [Line Items]
Percentage of concentration risk	19.80%

REAL ESTATE PROPERTIES HELD F53

REAL ESTATE PROPERTIES HELD FOR INVESTMENT - Future Minimum Rental Payments from Non-Cancelable Operating Leases (Details) $ in Thousands	Dec. 31, 2017USD ($)
Future Minimum Rental Payments Receivable
2,018	$ 559,864
2,019	569,288
2,020	560,252
2,021	558,362
2,022	552,610
Thereafter	2,928,902
Total	$ 5,729,278

DISPOSITIONS (Details)

DISPOSITIONS (Details)	12 Months Ended
	Dec. 31, 2017USD ($)Facilitiy	Dec. 31, 2016USD ($)Facilitiy	Dec. 31, 2015USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment losses on real estate investments	$ 1,326,000	$ 29,811,000	$ 0
Skilled Nursing/Transitional Care
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment losses on real estate investments	1,300,000
Disposed by Sale | 2017 Dispositions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate consideration received	150,200,000
Carrying value of assets and liabilities received	98,200,000
Gain (loss) on sale	52,000,000
Net income (loss) on discontinued operations	$ 12,600,000	15,200,000	15,600,000
Disposed by Sale | 2017 Dispositions | Skilled Nursing/Transitional Care
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | Facilitiy	31
Disposed by Sale | 2017 Dispositions | Senior Housing Communities
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | Facilitiy	1
Disposed by Sale | 2016 Dispositions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate consideration received		98,000,000
Carrying value of assets and liabilities received		104,100,000
Gain (loss) on sale		(6,100,000)
Net income (loss) on discontinued operations		700,000	$ (2,300,000)
Impairment losses on real estate investments		$ 29,800,000
Disposed by Sale | 2016 Dispositions | Skilled Nursing/Transitional Care
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | Facilitiy		4
Disposed by Sale | 2016 Dispositions | Acute Care Hospitals
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | Facilitiy		1
Disposed by Sale | 2016 Dispositions | Land
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | Facilitiy		1

INTANGIBLE ASSETS AND LIABILI55

INTANGIBLE ASSETS AND LIABILITIES - Summary of Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Lease Intangible Assets:
Gross lease intangible assets	$ 180,215	$ 31,417
Accumulated amortization	(13,096)	(5,167)
Lease intangible assets, net	167,119	26,250
Lease Intangible Liabilities:
Below market leases	102,643	0
Accumulated amortization	(4,628)	0
Lease intangible liabilities, net	98,015	0
Above market leases
Lease Intangible Assets:
Gross lease intangible assets	76,443	0
Tenant origination and absorption costs
Lease Intangible Assets:
Gross lease intangible assets	76,336	23,987
Tenant relationship
Lease Intangible Assets:
Gross lease intangible assets	$ 27,436	$ 7,430

INTANGIBLE ASSETS AND LIABILI56

INTANGIBLE ASSETS AND LIABILITIES - Summary of Real Estate Intangible Amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Increase to rental income related to above/below market leases, net
Finite-Lived Intangible Assets
Amortization of real estate intangibles	$ 912	$ 0	$ 0
Depreciation and amortization related to tenant origination and absorption costs and tenant relationship
Finite-Lived Intangible Assets
Amortization of real estate intangibles	$ (11,822)	$ (3,182)	$ (3,195)

INTANGIBLE ASSETS AND LIABILI57

INTANGIBLE ASSETS AND LIABILITIES - Remaining Unamortized Balance for Outstanding Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets
Lease intangible assets, net	$ 167,119	$ 26,250
Lease Intangible Assets
Finite-Lived Intangible Assets
2,018	21,814
2,019	21,612
2,020	18,482
2,021	16,619
2,022	15,193
Thereafter	73,399
Lease intangible assets, net	$ 167,119
Lease Intangible Assets | Weighted Average
Finite-Lived Intangible Assets
Weighted-average remaining amortization period	10 years 6 months
Lease Intangible Liabilities
Finite-Lived Intangible Assets
2,018	$ 13,588
2,019	13,588
2,020	12,328
2,021	8,119
2,022	7,227
Thereafter	43,165
Lease intangible assets, net	$ 98,015
Lease Intangible Liabilities | Weighted Average
Finite-Lived Intangible Assets
Weighted-average remaining amortization period	9 years 10 months

LOANS RECEIVABLE AND OTHER IN58

LOANS RECEIVABLE AND OTHER INVESTMENTS - Loans Receivable and Other Investments (Details) $ in Thousands	Dec. 31, 2017USD ($)Investment	Dec. 31, 2016USD ($)
Loans Receivable:
Quantity | Investment	22
Principal Balance	$ 91,280
Book Value	$ 66,004	$ 53,596
Weighted Average Contractual Interest Rate / Rate of Return	9.40%
Weighted Average Annualized Effective Interest Rate / Rate of Return	11.60%
Loan loss reserve	$ (97)	(2,750)
Loans Receivable, Net Amount	$ 65,907	50,846
Preferred Equity
Quantity | Investment	12
Principal Balance	$ 48,035	44,882
Book Value	$ 48,483	45,190
Weighted Average Contractual Interest Rate / Rate of Return	12.60%
Weighted Average Annualized Effective Interest Rate / Rate of Return	12.60%
Total Quantity | Investment	34
Total Principal Balance	$ 139,315
Total Book Value	$ 114,390	96,036
Total Weighted Average Contractual Interest Rate / Rate of Return	10.50%
Total Weighted Average Annualized Effective Interest Rate / Rate of Return	12.00%
Mortgage
Loans Receivable:
Quantity | Investment	2
Principal Balance	$ 13,366
Book Value	$ 12,351	38,262
Weighted Average Contractual Interest Rate / Rate of Return	9.90%
Weighted Average Annualized Effective Interest Rate / Rate of Return	11.30%
Construction
Loans Receivable:
Quantity | Investment	2
Principal Balance	$ 2,667
Book Value	$ 2,733	842
Weighted Average Contractual Interest Rate / Rate of Return	8.00%
Weighted Average Annualized Effective Interest Rate / Rate of Return	7.70%
Mezzanine
Loans Receivable:
Quantity | Investment	2
Principal Balance	$ 32,468
Book Value	$ 10,239	9,656
Weighted Average Contractual Interest Rate / Rate of Return	10.20%
Weighted Average Annualized Effective Interest Rate / Rate of Return	19.20%
Pre-development
Loans Receivable:
Quantity | Investment	1
Principal Balance	$ 2,357
Book Value	$ 2,357	4,023
Weighted Average Contractual Interest Rate / Rate of Return	9.00%
Weighted Average Annualized Effective Interest Rate / Rate of Return	8.40%
Other
Loans Receivable:
Quantity | Investment	15
Principal Balance	$ 40,422
Book Value	$ 38,324	0
Weighted Average Contractual Interest Rate / Rate of Return	8.80%
Weighted Average Annualized Effective Interest Rate / Rate of Return	10.10%
Debtor-in-possession
Loans Receivable:
Quantity | Investment	0
Principal Balance	$ 0
Book Value	$ 0	$ 813

LOANS RECEIVABLE AND OTHER IN59

LOANS RECEIVABLE AND OTHER INVESTMENTS - Narrative (Details)	12 Months Ended
	Dec. 31, 2017USD ($)Investmentloan	Dec. 31, 2016USD ($)loan	Aug. 17, 2017USD ($)loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans | Investment	22
Book value of loans	$ 91,280,000
Outstanding principal balance	66,004,000	$ 53,596,000
Loan loss reserve	$ 97,000	$ 2,750,000
Nonperforming Financial Instruments
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans | loan	0	3
Outstanding principal balance		$ 17,400,000
Provision for loan losses	$ 4,800,000	$ 3,100,000
Number of loans on which provision for losses were recorded | loan	2	4
Number of loans on nonaccrual status | loan	1
Value of loans on nonaccrual status	$ 0
Number of loans partially repaid prior to year end with on which provision for losses were recorded | loan		1
Portfolio-Based Loan Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Decrease in provision	300,000	$ 1,300,000
Loan loss reserve	100,000	400,000
Specific Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan loss reserve	0	$ 2,300,000
Care Capital Properties
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans | loan			18
Book value of loans			$ 83,300,000
Fair value of loans receivable			$ 58,200,000
Care Capital Properties | Receivables Acquired with Deteriorated Credit Quality
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans | loan			8
Book value of loans			$ 36,300,000
Fair value of loans receivable			11,300,000
Accretable yield	2,700,000		$ 2,900,000
Accretion recorded in interest and other income	200,000
Outstanding principal balance	$ 10,000,000

DEBT - Secured Debt (Details)

DEBT - Secured Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Deferred financing costs, net of amortization	$ 21,214
Secured Indebtedness
Debt Instrument [Line Items]
Principal, fixed rate	160,702	$ 163,638
Principal, variable rate	98,500	0
Principal	$ 259,202	163,638
Weighted average effective interest rate	3.68%
Deferred financing costs, net of amortization	$ 2,772	$ 2,900
Secured Indebtedness | Fixed Rate
Debt Instrument [Line Items]
Weighted average effective interest rate	3.87%
Secured Indebtedness | Variable Rate
Debt Instrument [Line Items]
Weighted average effective interest rate	3.36%

DEBT - Narrative (Details)

DEBT - Narrative (Details)

Aug. 17, 2017USD ($)extension_option

Aug. 10, 2016USD ($)agreement

Jan. 14, 2016USD ($)

May 23, 2013USD ($)

Dec. 31, 2017USD ($)instrumentextension_option

Dec. 31, 2016USD ($)

Dec. 31, 2015USD ($)

Aug. 17, 2017CADextension_option

Aug. 10, 2016CADagreement

Jan. 14, 2016CAD

Jun. 10, 2015CAD

Oct. 10, 2014USD ($)

Jan. 23, 2014USD ($)

Debt Instrument [Line Items]

Loss on extinguishment of debt

$ 553,000

$ 556,000

$ 0

Long-term debt

3,399,789,000

Interest expense

88,440,000

64,873,000

59,218,000

Non-cash interest expense

7,776,000

5,678,000

$ 5,279,000

Interest payable

$ 24,700,000

13,800,000

5.5% Senior Unsecured Notes due 2021

Debt Instrument [Line Items]

Interest rate

5.50%

5.50%

5.5% Senior Unsecured Notes due 2021, Issued January 2014

Debt Instrument [Line Items]

Debt amount

$ 350,000,000

Interest rate

5.50%

5.5% Senior Unsecured Notes due 2021, Issued October 2014

Debt Instrument [Line Items]

Debt amount

$ 150,000,000

Interest rate

5.50%

5.375% Senior Unsecured Notes Due 2023

Debt Instrument [Line Items]

Debt amount

$ 200,000,000

Interest rate

5.375%

5.375%

5.375% Senior Unsecured Notes Due 2023 | Prior to June 2018

Debt Instrument [Line Items]

Debt, redemption premium

100.00%

Senior Unsecured Notes Due 2026

Debt Instrument [Line Items]

Debt amount

$ 500,000,000

Interest rate

5.125%

5.125%

5.125%

Required ratio of total unencumbered assets to unsecured debt

150.00%

Senior Unsecured Notes Due 2027

Debt Instrument [Line Items]

Debt amount

$ 100,000,000

Interest rate

5.38%

5.38%

5.38%

Senior Unsecured Notes due 2021 and 2023

Debt Instrument [Line Items]

Maximum percentage of cumulative Adjusted Funds from Operations permitted to be distributed

95.00%

Required ratio of total unencumbered assets to unsecured debt

150.00%

Prior Revolving Credit Facility

Debt Instrument [Line Items]

Loss on extinguishment of debt

$ 600,000

Prior Revolving Credit Facility | Revolving Credit Facility

Debt Instrument [Line Items]

Borrowing capacity (up to)

$ 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

Available borrowing capacity

$ 359,000,000

Interest rate cap contract term

5 years

Prior Revolving Credit Facility | Revolving Credit Facility | Minimum

Debt Instrument [Line Items]

Annum percent unused borrowing fee

0.25%

Prior Revolving Credit Facility | Revolving Credit Facility | Maximum

Debt Instrument [Line Items]

Annum percent unused borrowing fee

0.30%

Prior Revolving Credit Facility | Revolving Credit Facility | Federal Funds Rate

Debt Instrument [Line Items]

Basis spread on variable rate

0.50%

Prior Revolving Credit Facility | Revolving Credit Facility | LIBOR

Debt Instrument [Line Items]

Basis spread on variable rate

2.00%

1.00%

Prior Revolving Credit Facility | Revolving Credit Facility | LIBOR | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

1.80%

Prior Revolving Credit Facility | Revolving Credit Facility | LIBOR | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

2.40%

Prior Revolving Credit Facility | Revolving Credit Facility | Base Rate | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

0.80%

Prior Revolving Credit Facility | Revolving Credit Facility | Base Rate | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

1.40%

Prior U.S. Dollar Term Loan

Debt Instrument [Line Items]

Debt amount

$ 245,000,000

Prior U.S. Dollar Term Loan | LIBOR | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

1.75%

Prior U.S. Dollar Term Loan | LIBOR | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

2.35%

Prior U.S. Dollar Term Loan | Base Rate | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

0.75%

Prior U.S. Dollar Term Loan | Base Rate | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

1.35%

Prior U.S. Dollar Term Loan | CDOR | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

1.75%

Prior U.S. Dollar Term Loan | CDOR | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

2.35%

Credit Facility | Line of Credit

Debt Instrument [Line Items]

Borrowing capacity (up to)

$ 1,250,000,000

Fourth Amended and Restated Credit Agreement | Revolving Credit Facility

Debt Instrument [Line Items]

Borrowing capacity (up to)

$ 1,000,000,000

Borrowing capacity in certain foreign currencies (up to)

$ 175,000,000

Number of optional extensions | extension_option

2

Optional extension period

6 months

Interest rate

2.81%

Fourth Amended and Restated Credit Agreement | Revolving Credit Facility | Minimum

Debt Instrument [Line Items]

Annum percent unused borrowing fee

0.125%

Fourth Amended and Restated Credit Agreement | Revolving Credit Facility | Maximum

Debt Instrument [Line Items]

Annum percent unused borrowing fee

0.30%

Fourth Amended and Restated Credit Agreement | Revolving Credit Facility | LIBOR | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

0.875%

Fourth Amended and Restated Credit Agreement | Revolving Credit Facility | LIBOR | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

1.65%

Fourth Amended and Restated Credit Agreement | Revolving Credit Facility | Base Rate | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

0.00%

Fourth Amended and Restated Credit Agreement | Revolving Credit Facility | Base Rate | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

0.65%

Fourth Amended and Restated Credit Agreement | Line of Credit

Debt Instrument [Line Items]

Borrowing capacity (up to)

$ 2,500,000,000

U.S. Dollar Term Loan

Debt Instrument [Line Items]

Debt amount

$ 245,000,000

U.S. Dollar Term Loan | LIBOR | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

0.90%

U.S. Dollar Term Loan | LIBOR | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

1.90%

U.S. Dollar Term Loan | Base Rate | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

0.00%

U.S. Dollar Term Loan | Base Rate | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

0.90%

U.S. Dollar Term Loan | CDOR | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

0.90%

U.S. Dollar Term Loan | CDOR | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

1.90%

U.S. Dollar Term Loan | Interest Rate Swap

Debt Instrument [Line Items]

Interest rate swap, fixed

0.90%

0.90%

Derivative instruments | agreement

2

2

Canadian Term Loan

Debt Instrument [Line Items]

Debt amount | CAD

CAD 125,000,000

CAD 35,000,000

Canadian Term Loan | Interest Rate Swap

Debt Instrument [Line Items]

Interest rate swap, fixed

0.93%

1.31%

0.93%

Derivative instruments | agreement

1

1

Prior Canadian Term Loan

Debt Instrument [Line Items]

Debt amount | CAD

CAD 125,000,000

CAD 90,000,000

Interest rate swap, fixed

1.59%

Redemption Period One | U.S. Dollar Term Loan

Debt Instrument [Line Items]

Debt amount

$ 1,100,000,000

Redemption Period Two | U.S. Dollar Term Loan

Debt Instrument [Line Items]

Debt amount

200,000,000

Care Capital Properties | Interest Rate Swap

Debt Instrument [Line Items]

Derivative instruments | instrument

8

Care Capital Properties | U.S. Dollar Term Loan

Debt Instrument [Line Items]

Debt amount

$ 600,000,000

Secured Indebtedness

Debt Instrument [Line Items]

Debt amount

259,202,000

$ 163,638,000

Long-term debt

259,202,000

Secured Indebtedness | Care Capital Properties | Variable Rate Secured Term Loan

Debt Instrument [Line Items]

Debt amount

$ 98,500,000

Secured Indebtedness | Care Capital Properties | Variable Rate Secured Term Loan | LIBOR

Debt Instrument [Line Items]

Basis spread on variable rate

1.80%

Line of Credit

Debt Instrument [Line Items]

Long-term debt

$ 641,000,000

DEBT - Senior Unsecured Notes (

DEBT - Senior Unsecured Notes (Details) - USD ($)	Dec. 31, 2017	Aug. 17, 2017	Dec. 31, 2016	Jan. 23, 2014	May 23, 2013
Debt Instrument [Line Items]
Principal Balance	$ 1,300,000,000		$ 700,000,000
Deferred financing costs, net	21,214,000
5.5% Senior Unsecured Notes due 2021
Debt Instrument [Line Items]
Principal Balance	$ 500,000,000		500,000,000
Interest rate	5.50%			5.50%
5.375% Senior Unsecured Notes Due 2023
Debt Instrument [Line Items]
Principal Balance	$ 200,000,000		200,000,000
Interest rate	5.375%				5.375%
Senior Unsecured Notes Due 2026
Debt Instrument [Line Items]
Principal Balance	$ 500,000,000		0
Interest rate	5.125%	5.125%
Senior Unsecured Notes Due 2027
Debt Instrument [Line Items]
Principal Balance	$ 100,000,000		0
Interest rate	5.38%	5.38%
Senior Notes
Debt Instrument [Line Items]
Premium, net	$ 15,900,000
Deferred financing costs, net	$ 9,629,000		11,200,000
Discount, net			$ 500,000

DEBT - Schedule of Maturities o

DEBT - Schedule of Maturities of Debt (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)extension_option	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
2,018	$ 4,301
2,019	102,945
2,020	204,594
2,021	1,161,482
2,022	1,003,872
Thereafter	922,595
Total Debt	3,399,789
Premium, net	15,915
Deferred financing costs, net	(21,214)
Total Debt, Net	3,394,490
Secured Indebtedness
Debt Instrument [Line Items]
2,018	4,301
2,019	102,945
2,020	4,594
2,021	20,482
2,022	4,285
Thereafter	122,595
Total Debt	259,202
Premium, net	0
Deferred financing costs, net	(2,772)	$ (2,900)
Total Debt, Net	256,430
Revolving Credit Facility
Debt Instrument [Line Items]
2,018	0
2,019	0
2,020	0
2,021	641,000
2,022	0
Thereafter	0
Total Debt	641,000
Premium, net	0
Deferred financing costs, net	0
Total Debt, Net	641,000
Term Loans
Debt Instrument [Line Items]
2,018	0
2,019	0
2,020	200,000
2,021	0
2,022	999,587
Thereafter	0
Total Debt	1,199,587
Premium, net	0
Deferred financing costs, net	(8,813)
Total Debt, Net	1,190,774
Senior Notes
Debt Instrument [Line Items]
2,018	0
2,019	0
2,020	0
2,021	500,000
2,022	0
Thereafter	800,000
Total Debt	1,300,000
Premium, net	15,915
Deferred financing costs, net	(9,629)	$ (11,200)
Total Debt, Net	$ 1,306,286
Fourth Amended and Restated Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Optional extension period	6 months
Number of optional extensions | extension_option	2

DERIVATIVE AND HEDGING INSTRU64

DERIVATIVE AND HEDGING INSTRUMENTS - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash Flow Hedges | Interest Rate Swap
Derivative [Line Items]
Hedge ineffectiveness recorded in earnings	$ 22,000	$ 800,000	$ 0
Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Losses included in accumulated other comprehensive loss which are expected to be reclassified into earnings in the next 12 months	1,100,000
Designated as Hedging Instrument | Cash Flow Hedges | Interest Rate Cap
Derivative [Line Items]
Proceeds from hedging		$ 300,000
Not Designated as Hedging Instrument | Cross Currency Interest Rate Swaps
Derivative [Line Items]
Other expense	$ 8,000

DERIVATIVE AND HEDGING INSTRU65

DERIVATIVE AND HEDGING INSTRUMENTS - Notional Amounts of Derivative Instruments (Details) - Designated as Hedging Instrument - Cross Currency Interest Rate Swaps	Dec. 31, 2017USD ($)	Dec. 31, 2017CAD	Dec. 31, 2016USD ($)	Dec. 31, 2016CAD
Cash Flow Hedges
Derivative [Line Items]
Notional amount	$ 845,000,000	CAD 125,000,000	$ 245,000,000	CAD 125,000,000
Net Investment Hedges
Derivative [Line Items]
Notional amount		56,300,000		56,300,000
Notional amount		CAD 125,000,000		CAD 125,000,000

DERIVATIVE AND HEDGING INSTRU66

DERIVATIVE AND HEDGING INSTRUMENTS - Summary of Derivative and Financial Instruments Designated as Hedging Instruments (Details) $ in Thousands	Dec. 31, 2017USD ($)instrument	Dec. 31, 2016USD ($)
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	$ 25,895	$ 11,240
Derivative liability, fair value	0	716
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	25,895	11,240
Derivative liability, fair value	$ 99,588	93,716
Designated as Hedging Instrument | Interest rate swap | Cash Flow | Accounts receivable, prepaid expenses and other assets, net
Derivatives, Fair Value [Line Items]
Derivative asset, count | instrument	12
Derivative asset, fair value	$ 25,221	8,083
Designated as Hedging Instrument | Interest rate swap | Cash Flow | Accounts payable and accrued liabilities
Derivatives, Fair Value [Line Items]
Derivative liability, count | instrument	0
Derivative liability, fair value	$ 0	716
Designated as Hedging Instrument | Cross currency interest rate swaps | Net Investment | Accounts receivable, prepaid expenses and other assets, net
Derivatives, Fair Value [Line Items]
Derivative asset, count | instrument	2
Derivative asset, fair value	$ 674	3,157
Designated as Hedging Instrument | CAD term loan | Net Investment | Term loans, net
Derivatives, Fair Value [Line Items]
Derivative liability, count | instrument	1
Derivative liability, fair value	$ 99,588	$ 93,000

DERIVATIVE AND HEDGING INSTRU67

DERIVATIVE AND HEDGING INSTRUMENTS - Effect of Derivatives and Financial Instruments Designated as Hedging Instruments on Income and Equity (Details) - Designated as Hedging Instrument - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion)	$ 1,841	$ 44	$ (7,640)
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income (Effective Portion)	(2,174)	(1,360)	(319)
Interest rate products | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion)	10,807	5,879	(4,764)
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income (Effective Portion)	(2,174)	(1,360)	(319)
Foreign currency products
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion)	(2,378)	(2,085)	5,476
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income (Effective Portion)	0	0	0
CAD term loan
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Other Comprehensive Income (Effective Portion)	(6,588)	(3,750)	(8,352)
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income Into Income (Effective Portion)	$ 0	$ 0	$ 0

DERIVATIVE AND HEDGING INSTRU68

DERIVATIVE AND HEDGING INSTRUMENTS - Gross Presentation, Effects of Offsetting, and a Net Presentation of Derivatives (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Offsetting Assets:
Gross Amounts of Recognized Assets / Liabilities	$ 25,895	$ 11,240
Gross Amounts Offset in the Balance Sheet	0	0
Net Amounts of Assets / Liabilities presented in the Balance Sheet	25,895	11,240
Financial Instruments	0	(716)
Cash Collateral Received	0	0
Net Amount	25,895	10,524
Offsetting Liabilities:
Gross Amounts of Recognized Assets / Liabilities	0	716
Gross Amounts Offset in the Balance Sheet	0	0
Net Amounts of Assets / Liabilities presented in the Balance Sheet	0	716
Financial Instruments	0	(716)
Cash Collateral Received	0	0
Net Amount	$ 0	$ 0

FAIR VALUE DISCLOSURES - Face V

FAIR VALUE DISCLOSURES - Face Values, Carrying Amounts and Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable, face value	$ 91,280	$ 53,484
Preferred equity investments, face value	48,035	44,882
Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities, face value	1,300,000	700,000
Secured Indebtedness
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities, face value	259,202	163,638
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	65,907	50,846
Preferred equity investments	48,483	45,190
Carrying Amount | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	1,306,286	688,246
Carrying Amount | Secured Indebtedness
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	256,430	160,752
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	65,892	51,914
Preferred equity investments	47,064	48,332
Fair Value | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	1,329,191	709,500
Fair Value | Secured Indebtedness
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	$ 246,461	$ 150,091

FAIR VALUE DISCLOSURES - Inputs

FAIR VALUE DISCLOSURES - Inputs Used for Valuation of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Total
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	$ 65,892	$ 51,914
Preferred equity investments	47,064	48,332
Total | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	1,329,191	709,500
Total | Secured Indebtedness
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	246,461	$ 150,091
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	0
Preferred equity investments	0
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Secured Indebtedness
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0
Recurring | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	0
Preferred equity investments	0
Recurring | Significant Other Observable Inputs (Level 2) | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	1,329,191
Recurring | Significant Other Observable Inputs (Level 2) | Secured Indebtedness
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0
Recurring | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	65,892
Preferred equity investments	47,064
Recurring | Significant Unobservable Inputs (Level 3) | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0
Recurring | Significant Unobservable Inputs (Level 3) | Secured Indebtedness
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	246,461
Recurring | Total
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	65,892
Preferred equity investments	47,064
Recurring | Total | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	1,329,191
Recurring | Total | Secured Indebtedness
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	$ 246,461

FAIR VALUE DISCLOSURES - Amount

FAIR VALUE DISCLOSURES - Amounts Measured at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	$ 25,895	$ 11,240
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0
Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Cross Currency Interest Rate Swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0
Recurring | Significant Other Observable Inputs (Level 2) | Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	25,221
Recurring | Significant Other Observable Inputs (Level 2) | Cross Currency Interest Rate Swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	674
Recurring | Significant Unobservable Inputs (Level 3) | Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0
Recurring | Significant Unobservable Inputs (Level 3) | Cross Currency Interest Rate Swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0
Recurring | Total | Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	25,221
Recurring | Total | Cross Currency Interest Rate Swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	$ 674

FAIR VALUE DISCLOSURES - Narrat

FAIR VALUE DISCLOSURES - Narrative (Details)	1 Months Ended	12 Months Ended
	Nov. 30, 2017USD ($)	Dec. 31, 2017USD ($)Propertyacquisition
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Earn-out arrangements expired		1
Payout under earn-out arrangement		$ 0
Contingent consideration liability	$ 400,000
Number of properties transitioned, earn out terminated | Property		8
Acquisitions With Contingent Consideration Arrangements
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of real estate acquisitions | acquisition		3

FAIR VALUE DISCLOSURES - Reconc

FAIR VALUE DISCLOSURES - Reconciliation of Contingent Consideration Liability and Asset (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Nov. 30, 2017	Dec. 31, 2017	Dec. 31, 2016
Business Combination, Contingent Consideration, Liability [Abstract]
Decrease in contingent consideration liability		$ 400	$ 1,500
Payment of contingent consideration	$ (400)
Recurring | Level 3
Business Combination, Contingent Consideration, Liability [Abstract]
Beginning balance		818	2,700
Decrease in contingent consideration liability		(426)	(1,876)
Payment of contingent consideration		(382)
Foreign currency translation		(10)	(6)
Ending balance		0	818
Business Combination, Contingent Consideration, Asset [Abstract]
Beginning balance		$ 0	350
Decrease in contingent consideration asset			(350)
Ending balance			$ 0

EQUITY - Narrative (Details)

EQUITY - Narrative (Details) - USD ($)	Oct. 02, 2017	Sep. 28, 2017	Aug. 17, 2017	Mar. 21, 2013	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Class of Stock [Line Items]
Shares of preferred stock issued (in shares)				5,800,000	5,750,000	5,750,000
Preferred stock dividend rate				7.125%
Redemption price per share (in dollars per share)				$ 25
Net proceeds from issuance of preferred stock				$ 138,300,000	$ 0
Preferred stock dividends in arrears					$ 0
Convertible preferred stock conversion price (in dollars per share)				$ 25
Number of shares issued upon conversion of convertible preferred stock (in shares)				1.7864
Vesting of common stock units (in shares)					300,000	100,000
Tax withholding obligations					$ 3,100,000	$ 1,500,000	$ 5,000,000
Public Stock Offering
Class of Stock [Line Items]
Shares of common stock issued (in shares)	18,400,000	16,000,000
Consideration received	$ 370,900,000
Common stock share price (in dollars per share)	$ 21
Over-Allotment Option
Class of Stock [Line Items]
Shares of common stock issued (in shares)	2,400,000
Care Capital Properties
Class of Stock [Line Items]
Shares of common stock issued in merger (in shares)			94,000,000

EQUITY - Summary of Accumulated

EQUITY - Summary of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total equity	$ 3,437,249	$ 1,015,609	$ 1,053,876	$ 941,823
Total accumulated other comprehensive loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total equity	11,289	(1,798)	$ (7,333)	$ (1,542)
Foreign currency translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total equity	(2,913)	(3,067)
Unrealized gains on cash flow hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total equity	$ 14,202	$ 1,269

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Feb. 13, 2019	Feb. 13, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding (in shares)		0	0
Total fair value of units vested	$ 8,400,000	$ 4,700,000	$ 8,500,000
Stock-based compensation expense	8,359,000	7,496,000	6,123,000
Total unrecognized stock-based compensation expense	$ 15,200,000
Weighted average period to recognized stock-based compensation expense	2 years 8 months
Discretionary matching contribution percent	3.00%
Matching contributions	$ 143,000	73,000	35,000
General and Administrative Expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 7,000,000	$ 7,500,000	$ 6,100,000
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average remaining vesting period	2 years 8 months
Weighted average fair value per share (in dollars per share)	$ 19.38	$ 22.05	$ 21.11
FFO Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	0.00%
FFO Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	250.00%
TSR Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Historical volatility rate period	3 years
TSR Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	0.00%
TSR Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	200.00%
Performance Incentive Plan of 2009 | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock convertible upon each performance-based restricted stock unit vesting (in shares)	1
Performance Incentive Plan of 2009 | Restricted Stock Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Performance Incentive Plan of 2009 | Restricted Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years
Care Capital Properties
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding (in shares)	1,700,000
Exercise price range, minimum (in dollars per share)	$ 19.24
Exercise price range, maximum (in dollars per share)	34.09
Weighted average exercise price (in dollars per share)	$ 27.92
Aggregate intrinsic value	$ 0
Care Capital Properties | General and Administrative Expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1,400,000
Forecast
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options exercisable (in shares)				1,200,000	500,000

STOCK-BASED COMPENSATION - Summ

STOCK-BASED COMPENSATION - Summary of Additional Information Concerning Restricted Stock Units (Details) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Restricted Stock Units Activity
Vested (in shares)	(300,000)	(100,000)
Restricted Stock Units
Restricted Stock Units Activity
Unvested beginning balance (in shares)	903,967
Granted (in shares)	576,357
Vested (in shares)	(333,338)
Dividends reinvested (in shares)	64,873
Cancelled (in shares)	(86,372)
Unvested ending balance (in shares)	1,125,487	903,967
Weighted Average Grant Date Fair Value Per Unit
Unvested beginning balance (in dollars per share)	$ 21.58
Granted (in dollars per share)	19.38	$ 22.05	$ 21.11
Vested (in dollars per share)	25.30
Dividends reinvested (in dollars per share)	21.17
Cancelled (in dollars per share)	20.61
Unvested ending balance (in dollars per share)	$ 19.71	$ 21.58

STOCK-BASED COMPENSATION - Su78

STOCK-BASED COMPENSATION - Summary of Assumptions Used in Total Stockholder Return-Based Stock Units Valuation (Details) - TSR Units	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Assumptions used in fair value valuation
Expected dividend yield (assuming full reinvestment)	0.00%	0.00%	0.00%
Minimum
Assumptions used in fair value valuation
Risk free interest rate	1.42%	0.78%	0.87%
Expected stock price volatility	28.86%	27.40%	23.55%
Expected service period	2 years 2 months 12 days	2 years 3 months 18 days	2 years 6 months
Maximum
Assumptions used in fair value valuation
Risk free interest rate	1.99%	1.60%	1.31%
Expected stock price volatility	30.97%	28.42%	27.02%
Expected service period	3 years	3 years	3 years

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Income tax benefit	$ (651)	$ (1,049)	$ (749)
Acquisitions in Canada | Foreign Tax Authority | Canada Revenue Agency
Business Acquisition [Line Items]
Income tax benefit	1,300	700	700
Valuation allowance	$ 1,200	$ 700	$ 700

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Reconciliation of Unrecognized Tax Benefits
Unrecognized tax benefits, beginning balance	$ 0	$ 24,212
Additions (reductions) based on prior years’ tax positions	0	(24,212)
Additions (reductions) based on current year tax positions	0	0
Unrecognized tax benefits, ending balance	$ 0	$ 0

EARNINGS PER COMMON SHARE - Com

EARNINGS PER COMMON SHARE - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Numerator
Net income attributable to common stockholders	$ 148,141	$ 60,034	$ 69,171
Denominator
Basic weighted average common shares and common equivalents (in shares)	105,621,242	65,284,251	62,235,014
Dilutive stock options and restricted stock units (in shares)	221,192	236,421	225,225
Dilutive weighted average common shares (in shares)	105,842,434	65,520,672	62,460,239
Net income attributable to common stockholders, per:
Basic common share (in dollars per share)	$ 1.40	$ 0.92	$ 1.11
Diluted common share (in dollars per share)	$ 1.40	$ 0.92	$ 1.11

EARNINGS PER COMMON SHARE - Nar

EARNINGS PER COMMON SHARE - Narrative (Details) - shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share
Stock options outstanding (in shares)		0	0
Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share
Anti-dilutive shares excluded from the computation of earnings per share (in shares)	132,000	128,000	76,000
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share
Anti-dilutive shares excluded from the computation of earnings per share (in shares)	0

SUMMARIZED CONSOLIDATING INFO83

SUMMARIZED CONSOLIDATING INFORMATION - Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Assets
Real estate investments, net of accumulated depreciation	$ 5,994,432	$ 2,009,939
Loans receivable and other investments, net	114,390	96,036
Cash and cash equivalents	518,632	25,663	$ 7,434	$ 61,793
Restricted cash	68,817	9,002
Lease intangible assets, net	167,119	26,250
Accounts receivable, prepaid expenses and other assets, net	168,887	99,029
Intercompany	0	0
Investment in subsidiaries	0	0
Total assets	7,032,277	2,265,919
Liabilities
Secured debt, net	256,430	160,752
Revolving credit facility	641,000	26,000
Term loans, net	1,190,774	335,673
Senior unsecured notes, net	1,306,286	688,246
Accounts payable and accrued liabilities	102,523	39,639
Lease intangible liabilities, net	98,015	0
Intercompany	0	0
Total liabilities	3,595,028	1,250,310
Equity
Total Sabra Health Care REIT, Inc. stockholders’ equity	3,432,807	1,015,574
Noncontrolling interests	4,442	35
Total equity	3,437,249	1,015,609	1,053,876	941,823
Total liabilities and equity	7,032,277	2,265,919
Elimination
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
Lease intangible assets, net	0	0
Accounts receivable, prepaid expenses and other assets, net	(5,189)	(1,909)
Intercompany	(4,765,381)	(1,080,899)
Investment in subsidiaries	(2,103,428)	(1,559,738)
Total assets	(6,873,998)	(2,642,546)
Liabilities
Secured debt, net	0	0
Revolving credit facility	0	0
Term loans, net	0	0
Senior unsecured notes, net	0	0
Accounts payable and accrued liabilities	(5,189)	(1,909)
Lease intangible liabilities, net	0
Intercompany	(4,765,381)	(1,080,899)
Total liabilities	(4,770,570)	(1,082,808)
Equity
Total Sabra Health Care REIT, Inc. stockholders’ equity	(2,103,428)	(1,559,738)
Noncontrolling interests	0	0
Total equity	(2,103,428)	(1,559,738)
Total liabilities and equity	(6,873,998)	(2,642,546)
Parent Company | Reportable Legal Entities
Assets
Real estate investments, net of accumulated depreciation	324	150
Loans receivable and other investments, net	(97)	(410)
Cash and cash equivalents	511,670	18,168	2,548	58,799
Restricted cash	0	0
Lease intangible assets, net	0	0
Accounts receivable, prepaid expenses and other assets, net	3,499	2,859
Intercompany	2,043,402	368,281
Investment in subsidiaries	890,462	640,238
Total assets	3,449,260	1,029,286
Liabilities
Secured debt, net	0	0
Revolving credit facility	0	0
Term loans, net	0	0
Senior unsecured notes, net	0	0
Accounts payable and accrued liabilities	16,453	13,712
Lease intangible liabilities, net	0
Intercompany	0	0
Total liabilities	16,453	13,712
Equity
Total Sabra Health Care REIT, Inc. stockholders’ equity	3,432,807	1,015,574
Noncontrolling interests	0	0
Total equity	3,432,807	1,015,574
Total liabilities and equity	3,449,260	1,029,286
Operating Partnership | Reportable Legal Entities
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
Lease intangible assets, net	0	0
Accounts receivable, prepaid expenses and other assets, net	36,073	18,023
Intercompany	2,721,979	687,493
Investment in subsidiaries	1,198,305	907,136
Total assets	3,956,357	1,612,652
Liabilities
Secured debt, net	0	0
Revolving credit facility	641,000	26,000
Term loans, net	1,092,397	243,626
Senior unsecured notes, net	1,306,286	688,246
Accounts payable and accrued liabilities	26,212	14,542
Lease intangible liabilities, net	0
Intercompany	0	0
Total liabilities	3,065,895	972,414
Equity
Total Sabra Health Care REIT, Inc. stockholders’ equity	890,462	640,238
Noncontrolling interests	0	0
Total equity	890,462	640,238
Total liabilities and equity	3,956,357	1,612,652
Sabra Capital Corporation | Reportable Legal Entities
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
Lease intangible assets, net	0	0
Accounts receivable, prepaid expenses and other assets, net	0	0
Intercompany	0	0
Investment in subsidiaries	0	0
Total assets	0	0
Liabilities
Secured debt, net	0	0
Revolving credit facility	0	0
Term loans, net	0	0
Senior unsecured notes, net	0	0
Accounts payable and accrued liabilities	0	0
Lease intangible liabilities, net	0
Intercompany	0	0
Total liabilities	0	0
Equity
Total Sabra Health Care REIT, Inc. stockholders’ equity	0	0
Noncontrolling interests	0	0
Total equity	0	0
Total liabilities and equity	0	0
Combined Guarantor Subsidiaries of 2021 Notes and 2023 Notes | Reportable Legal Entities
Assets
Real estate investments, net of accumulated depreciation	1,756,933	1,860,850
Loans receivable and other investments, net	55,297	96,446
Cash and cash equivalents	449	2,675	456	0
Restricted cash	36,910	57
Lease intangible assets, net	17,577	25,489
Accounts receivable, prepaid expenses and other assets, net	80,739	70,812
Intercompany	0	0
Investment in subsidiaries	14,661	12,364
Total assets	1,962,566	2,068,693
Liabilities
Secured debt, net	0	0
Revolving credit facility	0	0
Term loans, net	98,377	92,047
Senior unsecured notes, net	0	0
Accounts payable and accrued liabilities	3,560	11,606
Lease intangible liabilities, net	0
Intercompany	785,120	1,080,899
Total liabilities	887,057	1,184,552
Equity
Total Sabra Health Care REIT, Inc. stockholders’ equity	1,075,509	884,141
Noncontrolling interests	0	0
Total equity	1,075,509	884,141
Total liabilities and equity	1,962,566	2,068,693
Combined Non-Guarantor Subsidiaries of 2021 Notes and 2023 Notes | Reportable Legal Entities
Assets
Real estate investments, net of accumulated depreciation	4,237,175	148,939
Loans receivable and other investments, net	59,190	0
Cash and cash equivalents	6,513	4,820	$ 4,430	$ 2,994
Restricted cash	31,907	8,945
Lease intangible assets, net	149,542	761
Accounts receivable, prepaid expenses and other assets, net	53,765	9,244
Intercompany	0	25,125
Investment in subsidiaries	0	0
Total assets	4,538,092	197,834
Liabilities
Secured debt, net	256,430	160,752
Revolving credit facility	0	0
Term loans, net	0	0
Senior unsecured notes, net	0	0
Accounts payable and accrued liabilities	61,487	1,688
Lease intangible liabilities, net	98,015
Intercompany	3,980,261	0
Total liabilities	4,396,193	162,440
Equity
Total Sabra Health Care REIT, Inc. stockholders’ equity	137,457	35,359
Noncontrolling interests	4,442	35
Total equity	141,899	35,394
Total liabilities and equity	$ 4,538,092	$ 197,834

SUMMARIZED CONSOLIDATING INFO84

SUMMARIZED CONSOLIDATING INFORMATION - Consolidating Statement of Income (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenues:
Rental income	$ 364,191,000	$ 225,275,000	$ 209,851,000
Interest and other income	15,026,000	27,463,000	25,505,000
Resident fees and services	26,430,000	7,788,000	3,508,000
Total revenues	405,647,000	260,526,000	238,864,000
Expenses:
Depreciation and amortization	113,882,000	68,472,000	63,079,000
Interest	88,440,000	64,873,000	59,218,000
Operating expenses	17,860,000	5,703,000	2,576,000
General and administrative	32,401,000	17,672,000	16,093,000
Merger and acquisition costs	30,255,000	1,197,000	7,023,000
Provision for doubtful accounts and loan losses	17,113,000	5,543,000	12,842,000
Impairment of real estate	1,326,000	29,811,000	0
Total expenses	301,277,000	193,271,000	160,831,000
Other income (expense):
Loss on extinguishment of debt	(553,000)	(556,000)	0
Other income (expense)	3,170,000	10,677,000	2,260,000
Net gain (loss) on sales of real estate	52,029,000	(6,122,000)	(161,000)
Total other income (expense)	54,646,000	3,999,000	2,099,000
Income in subsidiary	0	0	0
Income before income tax benefit (expense)	159,016,000	71,254,000	80,132,000
Income tax expense	(651,000)	(1,049,000)	(749,000)
Net income	158,365,000	70,205,000	79,383,000
Net loss attributable to noncontrolling interests	18,000	71,000	30,000
Net income attributable to Sabra Health Care REIT, Inc.	158,383,000	70,276,000	79,413,000
Preferred stock dividends	(10,242,000)	(10,242,000)	(10,242,000)
Net income attributable to common stockholders	$ 148,141,000	$ 60,034,000	$ 69,171,000
Net income attributable to common stockholders, per:
Basic common share (in dollars per share)	$ 1.40	$ 0.92	$ 1.11
Diluted common share (in dollars per share)	$ 1.40	$ 0.92	$ 1.11
Weighted-average number of common shares outstanding, basic (in shares)	105,621,242	65,284,251	62,235,014
Weighted-average number of common shares outstanding, diluted (in shares)	105,842,434	65,520,672	62,460,239
Elimination
Revenues:
Rental income	$ (7,513,000)	$ (2,328,000)	$ (1,201,000)
Interest and other income	(161,000)	(253,000)	(304,000)
Resident fees and services	0	0	0
Total revenues	(7,674,000)	(2,581,000)	(1,505,000)
Expenses:
Depreciation and amortization	0	0	0
Interest	(143,000)	0	(261,000)
Operating expenses	(7,531,000)	(2,363,000)	(1,213,000)
General and administrative	0	0	0
Merger and acquisition costs	0	0	0
Provision for doubtful accounts and loan losses	0	0	0
Impairment of real estate	0	0
Total expenses	(7,674,000)	(2,363,000)	(1,474,000)
Other income (expense):
Loss on extinguishment of debt	0	0
Other income (expense)	0	0	0
Net gain (loss) on sales of real estate	0	0	0
Total other income (expense)	0	0	0
Income in subsidiary	(509,045,000)	(219,716,000)	(250,001,000)
Income before income tax benefit (expense)	(509,045,000)	(219,934,000)	(250,032,000)
Income tax expense	0	0	0
Net income	(509,045,000)	(219,934,000)	(250,032,000)
Net loss attributable to noncontrolling interests	0	0	0
Net income attributable to Sabra Health Care REIT, Inc.	(509,045,000)	(219,934,000)	(250,032,000)
Preferred stock dividends	0	0	0
Net income attributable to common stockholders	(509,045,000)	(219,934,000)	(250,032,000)
Parent Company | Reportable Legal Entities
Revenues:
Rental income	0	0	0
Interest and other income	39,000	3,000	2,000
Resident fees and services	0	0	0
Total revenues	39,000	3,000	2,000
Expenses:
Depreciation and amortization	867,000	816,000	47,000
Interest	0	0	0
Operating expenses	0	0	0
General and administrative	24,810,000	15,798,000	14,485,000
Merger and acquisition costs	30,208,000	(7,000)	(14,000)
Provision for doubtful accounts and loan losses	227,000	(1,376,000)	1,291,000
Impairment of real estate	0	0
Total expenses	56,112,000	15,231,000	15,809,000
Other income (expense):
Loss on extinguishment of debt	0	0
Other income (expense)	2,634,000	7,366,000	0
Net gain (loss) on sales of real estate	0	0	0
Total other income (expense)	2,634,000	7,366,000	0
Income in subsidiary	212,432,000	78,783,000	95,690,000
Income before income tax benefit (expense)	158,993,000	70,921,000	79,883,000
Income tax expense	(610,000)	(427,000)	(439,000)
Net income	158,383,000	70,494,000	79,444,000
Net loss attributable to noncontrolling interests	0	0	0
Net income attributable to Sabra Health Care REIT, Inc.	158,383,000	70,494,000	79,444,000
Preferred stock dividends	(10,242,000)	(10,242,000)	(10,242,000)
Net income attributable to common stockholders	148,141,000	60,252,000	69,202,000
Operating Partnership | Reportable Legal Entities
Revenues:
Rental income	0	0	0
Interest and other income	143,000	0	334,000
Resident fees and services	0	0	0
Total revenues	143,000	0	334,000
Expenses:
Depreciation and amortization	0	0	0
Interest	77,767,000	54,589,000	52,208,000
Operating expenses	0	0	0
General and administrative	65,000	56,000	29,000
Merger and acquisition costs	0	0	0
Provision for doubtful accounts and loan losses	0	0	0
Impairment of real estate	0	0
Total expenses	77,832,000	54,645,000	52,237,000
Other income (expense):
Loss on extinguishment of debt	(422,000)	(468,000)
Other income (expense)	1,130,000	(196,000)	1,651,000
Net gain (loss) on sales of real estate	0	0	0
Total other income (expense)	708,000	(664,000)	1,651,000
Income in subsidiary	289,414,000	134,093,000	145,943,000
Income before income tax benefit (expense)	212,433,000	78,784,000	95,691,000
Income tax expense	(1,000)	(1,000)	(1,000)
Net income	212,432,000	78,783,000	95,690,000
Net loss attributable to noncontrolling interests	0	0	0
Net income attributable to Sabra Health Care REIT, Inc.	212,432,000	78,783,000	95,690,000
Preferred stock dividends	0	0	0
Net income attributable to common stockholders	212,432,000	78,783,000	95,690,000
Sabra Capital Corporation | Reportable Legal Entities
Revenues:
Rental income	0	0	0
Interest and other income	0	0	0
Resident fees and services	0	0	0
Total revenues	0	0	0
Expenses:
Depreciation and amortization	0	0	0
Interest	0	0	0
Operating expenses	0	0	0
General and administrative	0	0	0
Merger and acquisition costs	0	0	0
Provision for doubtful accounts and loan losses	0	0	0
Impairment of real estate	0	0
Total expenses	0	0	0
Other income (expense):
Loss on extinguishment of debt	0	0
Other income (expense)	0	0	0
Net gain (loss) on sales of real estate	0	0	0
Total other income (expense)	0	0	0
Income in subsidiary	0	0	0
Income before income tax benefit (expense)	0	0	0
Income tax expense	0	0	0
Net income	0	0	0
Net loss attributable to noncontrolling interests	0	0	0
Net income attributable to Sabra Health Care REIT, Inc.	0	0	0
Preferred stock dividends	0	0	0
Net income attributable to common stockholders	0	0	0
Combined Guarantor Subsidiaries of 2021 Notes and 2023 Notes | Reportable Legal Entities
Revenues:
Rental income	213,162,000	206,897,000	190,582,000
Interest and other income	9,098,000	27,712,000	25,472,000
Resident fees and services	0	0	0
Total revenues	222,260,000	234,609,000	216,054,000
Expenses:
Depreciation and amortization	67,723,000	61,371,000	57,141,000
Interest	2,989,000	3,497,000	1,553,000
Operating expenses	0	0	0
General and administrative	3,854,000	1,652,000	1,411,000
Merger and acquisition costs	47,000	1,204,000	6,868,000
Provision for doubtful accounts and loan losses	16,886,000	6,498,000	11,551,000
Impairment of real estate	1,326,000	29,811,000
Total expenses	92,825,000	104,033,000	78,524,000
Other income (expense):
Loss on extinguishment of debt	(131,000)	(88,000)
Other income (expense)	(617,000)	3,507,000	609,000
Net gain (loss) on sales of real estate	54,627,000	(6,143,000)	(161,000)
Total other income (expense)	53,879,000	(2,724,000)	448,000
Income in subsidiary	7,199,000	6,840,000	8,368,000
Income before income tax benefit (expense)	190,513,000	134,692,000	146,346,000
Income tax expense	(139,000)	(538,000)	(284,000)
Net income	190,374,000	134,154,000	146,062,000
Net loss attributable to noncontrolling interests	0	0	0
Net income attributable to Sabra Health Care REIT, Inc.	190,374,000	134,154,000	146,062,000
Preferred stock dividends	0	0	0
Net income attributable to common stockholders	190,374,000	134,154,000	146,062,000
Combined Non-Guarantor Subsidiaries of 2021 Notes and 2023 Notes | Reportable Legal Entities
Revenues:
Rental income	158,542,000	20,706,000	20,470,000
Interest and other income	5,907,000	1,000	1,000
Resident fees and services	26,430,000	7,788,000	3,508,000
Total revenues	190,879,000	28,495,000	23,979,000
Expenses:
Depreciation and amortization	45,292,000	6,285,000	5,891,000
Interest	7,827,000	6,787,000	5,718,000
Operating expenses	25,391,000	8,066,000	3,789,000
General and administrative	3,672,000	166,000	168,000
Merger and acquisition costs	0	0	169,000
Provision for doubtful accounts and loan losses	0	421,000	0
Impairment of real estate	0	0
Total expenses	82,182,000	21,725,000	15,735,000
Other income (expense):
Loss on extinguishment of debt	0	0
Other income (expense)	23,000	0	0
Net gain (loss) on sales of real estate	(2,598,000)	21,000	0
Total other income (expense)	(2,575,000)	21,000	0
Income in subsidiary	0	0	0
Income before income tax benefit (expense)	106,122,000	6,791,000	8,244,000
Income tax expense	99,000	(83,000)	(25,000)
Net income	106,221,000	6,708,000	8,219,000
Net loss attributable to noncontrolling interests	18,000	71,000	30,000
Net income attributable to Sabra Health Care REIT, Inc.	106,239,000	6,779,000	8,249,000
Preferred stock dividends	0	0	0
Net income attributable to common stockholders	$ 106,239,000	$ 6,779,000	$ 8,249,000

SUMMARIZED CONSOLIDATING INFO85

SUMMARIZED CONSOLIDATING INFORMATION - Condensed Consolidating Statement of Comprehensive Income (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Condensed Financial Statements, Captions [Line Items]
Net income		$ 158,365	$ 70,205	$ 79,383
Other comprehensive income (loss):
Foreign currency translation gain (loss)		154	(1,634)	(1,433)
Unrealized gain (loss) on cash flow hedge	[1]	12,933	7,169	(4,358)
Total other comprehensive income (loss)		13,087	5,535	(5,791)
Comprehensive income		171,452	75,740	73,592
Comprehensive loss attributable to noncontrolling interest		18	71	30
Comprehensive income attributable to Sabra Health Care REIT, Inc.		171,470	75,811	73,622
Elimination
Condensed Financial Statements, Captions [Line Items]
Net income		(509,045)	(219,934)	(250,032)
Other comprehensive income (loss):
Foreign currency translation gain (loss)		0	0	0
Unrealized gain (loss) on cash flow hedge		0	0	0
Total other comprehensive income (loss)		0	0	0
Comprehensive income		(509,045)	(219,934)	(250,032)
Comprehensive loss attributable to noncontrolling interest		0	0	0
Comprehensive income attributable to Sabra Health Care REIT, Inc.		(509,045)	(219,934)	(250,032)
Parent Company | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net income		158,383	70,494	79,444
Other comprehensive income (loss):
Foreign currency translation gain (loss)		0	0	0
Unrealized gain (loss) on cash flow hedge		0	0	0
Total other comprehensive income (loss)		0	0	0
Comprehensive income		158,383	70,494	79,444
Comprehensive loss attributable to noncontrolling interest		0	0	0
Comprehensive income attributable to Sabra Health Care REIT, Inc.		158,383	70,494	79,444
Operating Partnership | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net income		212,432	78,783	95,690
Other comprehensive income (loss):
Foreign currency translation gain (loss)		(2,821)	(2,080)	5,542
Unrealized gain (loss) on cash flow hedge		13,078	7,169	(4,358)
Total other comprehensive income (loss)		10,257	5,089	1,184
Comprehensive income		222,689	83,872	96,874
Comprehensive loss attributable to noncontrolling interest		0	0	0
Comprehensive income attributable to Sabra Health Care REIT, Inc.		222,689	83,872	96,874
Sabra Capital Corporation | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net income		0	0	0
Other comprehensive income (loss):
Foreign currency translation gain (loss)		0	0	0
Unrealized gain (loss) on cash flow hedge		0	0	0
Total other comprehensive income (loss)		0	0	0
Comprehensive income		0	0	0
Comprehensive loss attributable to noncontrolling interest		0	0	0
Comprehensive income attributable to Sabra Health Care REIT, Inc.		0	0	0
Combined Guarantor Subsidiaries of 2021 Notes and 2023 Notes | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net income		190,374	134,154	146,062
Other comprehensive income (loss):
Foreign currency translation gain (loss)		2,233	364	(5,507)
Unrealized gain (loss) on cash flow hedge		(145)	0	0
Total other comprehensive income (loss)		2,088	364	(5,507)
Comprehensive income		192,462	134,518	140,555
Comprehensive loss attributable to noncontrolling interest		0	0	0
Comprehensive income attributable to Sabra Health Care REIT, Inc.		192,462	134,518	140,555
Combined Non-Guarantor Subsidiaries of 2021 Notes and 2023 Notes | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net income		106,221	6,708	8,219
Other comprehensive income (loss):
Foreign currency translation gain (loss)		742	82	(1,468)
Unrealized gain (loss) on cash flow hedge		0	0	0
Total other comprehensive income (loss)		742	82	(1,468)
Comprehensive income		106,963	6,790	6,751
Comprehensive loss attributable to noncontrolling interest		18	71	30
Comprehensive income attributable to Sabra Health Care REIT, Inc.		$ 106,981	$ 6,861	$ 6,781
[1]	Amounts are net of provision for income taxes of $0.1 million for the year ended December 31, 2017 and none for the years ended December 31, 2016 and 2015.

SUMMARIZED CONSOLIDATING INFO86

SUMMARIZED CONSOLIDATING INFORMATION - Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	Mar. 21, 2013	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities		$ 133,486	$ 176,739	$ 121,101
Cash flows from investing activities:
Acquisition of real estate		(419,905)	(153,579)	(461,330)
Cash received in CCP Merger		77,859	0	0
Origination and fundings of loans receivable		(17,239)	(9,675)	(49,687)
Origination and fundings of preferred equity investments		(2,749)	(7,348)	(12,804)
Additions to real estate		(6,954)	(1,003)	(3,689)
Repayment of loans receivable		32,430	215,962	5,803
Release of contingent consideration held in escrow		0	0	5,240
Repayment of preferred equity investments		3,755	0	0
Net proceeds from sale of real estate		92,731	98,006	27,241
Investment in subsidiary			0	0
Distribution from subsidiaries		0	0	0
Intercompany financing		0	0	0
Net cash (used in) provided by investing activities		(240,072)	142,363	(489,226)
Cash flows from financing activities:
Net proceeds from revolving credit facility		253,000	(229,000)	187,000
Proceeds from term loans		181,000	69,360	73,242
Proceeds from secured debt		0	0	28,735
Principal payments on secured debt		(4,145)	(14,768)	(3,132)
Payments of deferred financing costs		(15,337)	(5,937)	(1,452)
Contributions by noncontrolling interests		0	0	179
Payment of contingent consideration		(382)	0	0
Distributions to noncontrolling interests		(30)	0	0
Issuance of preferred stock	$ 138,300	0
Issuance of common stock, net		366,800	(1,289)	139,403
Dividends paid on common and preferred stock		(182,089)	(119,264)	(109,897)
Contribution from parent			0	0
Distribution to parent		0	0	0
Intercompany financing		0	0	0
Net cash provided by (used in) financing activities		598,817	(300,898)	314,078
Net increase (decrease) in cash and cash equivalents		492,231	18,204	(54,047)
Effect of foreign currency translation on cash and cash equivalents		738	25	(312)
Cash and cash equivalents, beginning of period		25,663	7,434	61,793
Cash and cash equivalents, end of period		518,632	25,663	7,434
Elimination
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities		0	0	0
Cash flows from investing activities:
Acquisition of real estate		0	0	0
Cash received in CCP Merger		0
Origination and fundings of loans receivable		0	0	0
Origination and fundings of preferred equity investments		0	0	0
Additions to real estate		0	0	0
Repayment of loans receivable		0	0	0
Release of contingent consideration held in escrow				0
Repayment of preferred equity investments		0
Net proceeds from sale of real estate		0	0	0
Investment in subsidiary			400	828
Distribution from subsidiaries		(4,948)	(12,808)	(7,030)
Intercompany financing		80,665	(142,358)	588,536
Net cash (used in) provided by investing activities		75,717	(154,766)	582,334
Cash flows from financing activities:
Net proceeds from revolving credit facility		0	0	0
Proceeds from term loans		0	0	0
Proceeds from secured debt				0
Principal payments on secured debt		0	0	0
Payments of deferred financing costs		0	0	0
Contributions by noncontrolling interests				0
Payment of contingent consideration		0
Distributions to noncontrolling interests		0
Issuance of preferred stock		0
Issuance of common stock, net		0	0	0
Dividends paid on common and preferred stock		0	0	0
Contribution from parent			(400)	(828)
Distribution to parent		4,948	12,808	7,030
Intercompany financing		(80,665)	142,358	(588,536)
Net cash provided by (used in) financing activities		(75,717)	154,766	(582,334)
Net increase (decrease) in cash and cash equivalents		0	0	0
Effect of foreign currency translation on cash and cash equivalents		0	0	0
Cash and cash equivalents, beginning of period		0	0	0
Cash and cash equivalents, end of period		0	0	0
Parent Company | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities		59,640	153,577	112,291
Cash flows from investing activities:
Acquisition of real estate		0	0	0
Cash received in CCP Merger		77,859
Origination and fundings of loans receivable		0	0	0
Origination and fundings of preferred equity investments		0	0	0
Additions to real estate		(181)	(124)	(34)
Repayment of loans receivable		0	0	0
Release of contingent consideration held in escrow				0
Repayment of preferred equity investments		0
Net proceeds from sale of real estate		0	0	0
Investment in subsidiary			(200)	(414)
Distribution from subsidiaries		2,474	6,404	3,515
Intercompany financing		168,999	(23,484)	(200,884)
Net cash (used in) provided by investing activities		249,151	(17,404)	(197,817)
Cash flows from financing activities:
Net proceeds from revolving credit facility		0	0	0
Proceeds from term loans		0	0	0
Proceeds from secured debt				0
Principal payments on secured debt		0	0	0
Payments of deferred financing costs		0	0	0
Contributions by noncontrolling interests				0
Payment of contingent consideration		0
Distributions to noncontrolling interests		0
Issuance of preferred stock		0
Issuance of common stock, net		366,800	(1,289)	139,403
Dividends paid on common and preferred stock		(182,089)	(119,264)	(109,897)
Contribution from parent			0	0
Distribution to parent		0	0	0
Intercompany financing		0	0	0
Net cash provided by (used in) financing activities		184,711	(120,553)	29,506
Net increase (decrease) in cash and cash equivalents		493,502	15,620	(56,020)
Effect of foreign currency translation on cash and cash equivalents		0	0	(231)
Cash and cash equivalents, beginning of period		18,168	2,548	58,799
Cash and cash equivalents, end of period		511,670	18,168	2,548
Operating Partnership | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities		0	0	0
Cash flows from investing activities:
Acquisition of real estate		0	0	0
Cash received in CCP Merger		0
Origination and fundings of loans receivable		0	0	0
Origination and fundings of preferred equity investments		0	0	0
Additions to real estate		0	0	0
Repayment of loans receivable		0	0	0
Release of contingent consideration held in escrow				0
Repayment of preferred equity investments		0
Net proceeds from sale of real estate		0	0	0
Investment in subsidiary			(200)	(414)
Distribution from subsidiaries		2,474	6,404	3,515
Intercompany financing		(249,664)	165,842	(387,652)
Net cash (used in) provided by investing activities		(247,190)	172,046	(384,551)
Cash flows from financing activities:
Net proceeds from revolving credit facility		253,000	(229,000)	187,000
Proceeds from term loans		181,000	45,000	0
Proceeds from secured debt				0
Principal payments on secured debt		0	0	0
Payments of deferred financing costs		(15,337)	(5,326)	(232)
Contributions by noncontrolling interests				0
Payment of contingent consideration		0
Distributions to noncontrolling interests		0
Issuance of preferred stock		0
Issuance of common stock, net		0	0	0
Dividends paid on common and preferred stock		0	0	0
Contribution from parent			200	414
Distribution to parent		(2,474)	(6,404)	(3,515)
Intercompany financing		(168,999)	23,484	200,884
Net cash provided by (used in) financing activities		247,190	(172,046)	384,551
Net increase (decrease) in cash and cash equivalents		0	0	0
Effect of foreign currency translation on cash and cash equivalents		0	0	0
Cash and cash equivalents, beginning of period		0	0	0
Cash and cash equivalents, end of period		0	0	0
Sabra Capital Corporation | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities		0	0	0
Cash flows from investing activities:
Acquisition of real estate		0	0	0
Cash received in CCP Merger		0
Origination and fundings of loans receivable		0	0	0
Origination and fundings of preferred equity investments		0	0	0
Additions to real estate		0	0	0
Repayment of loans receivable		0	0	0
Release of contingent consideration held in escrow				0
Repayment of preferred equity investments		0
Net proceeds from sale of real estate		0	0	0
Investment in subsidiary			0	0
Distribution from subsidiaries		0	0	0
Intercompany financing		0	0	0
Net cash (used in) provided by investing activities		0	0	0
Cash flows from financing activities:
Net proceeds from revolving credit facility		0	0	0
Proceeds from term loans		0	0	0
Proceeds from secured debt				0
Principal payments on secured debt		0	0	0
Payments of deferred financing costs		0	0	0
Contributions by noncontrolling interests				0
Payment of contingent consideration		0
Distributions to noncontrolling interests		0
Issuance of preferred stock		0
Issuance of common stock, net		0	0	0
Dividends paid on common and preferred stock		0	0	0
Contribution from parent			0	0
Distribution to parent		0	0	0
Intercompany financing		0	0	0
Net cash provided by (used in) financing activities		0	0	0
Net increase (decrease) in cash and cash equivalents		0	0	0
Effect of foreign currency translation on cash and cash equivalents		0	0	0
Cash and cash equivalents, beginning of period		0	0	0
Cash and cash equivalents, end of period		0	0	0
Combined Guarantor Subsidiaries of 2021 Notes and 2023 Notes | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities		61,744	12,074	820
Cash flows from investing activities:
Acquisition of real estate		(419,905)	(153,579)	(450,082)
Cash received in CCP Merger		0
Origination and fundings of loans receivable		(1,799)	(9,675)	(49,687)
Origination and fundings of preferred equity investments		(2,749)	(7,348)	(12,804)
Additions to real estate		(2,339)	(502)	(1,286)
Repayment of loans receivable		12,441	215,962	5,803
Release of contingent consideration held in escrow				5,240
Repayment of preferred equity investments		3,755
Net proceeds from sale of real estate		92,337	97,407	27,241
Investment in subsidiary			0	0
Distribution from subsidiaries		0	0	0
Intercompany financing		0	0	0
Net cash (used in) provided by investing activities		(318,259)	142,265	(475,575)
Cash flows from financing activities:
Net proceeds from revolving credit facility		0	0	0
Proceeds from term loans		0	24,360	73,242
Proceeds from secured debt				0
Principal payments on secured debt		0	(10,766)	0
Payments of deferred financing costs		0	(611)	(740)
Contributions by noncontrolling interests				0
Payment of contingent consideration		(382)
Distributions to noncontrolling interests		0
Issuance of preferred stock		0
Issuance of common stock, net		0	0	0
Dividends paid on common and preferred stock		0	0	0
Contribution from parent			0	0
Distribution to parent		0	0	0
Intercompany financing		254,608	(165,175)	402,745
Net cash provided by (used in) financing activities		254,226	(152,192)	475,247
Net increase (decrease) in cash and cash equivalents		(2,289)	2,147	492
Effect of foreign currency translation on cash and cash equivalents		63	72	(36)
Cash and cash equivalents, beginning of period		2,675	456	0
Cash and cash equivalents, end of period		449	2,675	456
Combined Non-Guarantor Subsidiaries of 2021 Notes and 2023 Notes | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities		12,102	11,088	7,990
Cash flows from investing activities:
Acquisition of real estate		0	0	(11,248)
Cash received in CCP Merger		0
Origination and fundings of loans receivable		(15,440)	0	0
Origination and fundings of preferred equity investments		0	0	0
Additions to real estate		(4,434)	(377)	(2,369)
Repayment of loans receivable		19,989	0	0
Release of contingent consideration held in escrow				0
Repayment of preferred equity investments		0
Net proceeds from sale of real estate		394	599	0
Investment in subsidiary			0	0
Distribution from subsidiaries		0	0	0
Intercompany financing		0	0	0
Net cash (used in) provided by investing activities		509	222	(13,617)
Cash flows from financing activities:
Net proceeds from revolving credit facility		0	0	0
Proceeds from term loans		0	0	0
Proceeds from secured debt				28,735
Principal payments on secured debt		(4,145)	(4,002)	(3,132)
Payments of deferred financing costs		0	0	(480)
Contributions by noncontrolling interests				179
Payment of contingent consideration		0
Distributions to noncontrolling interests		(30)
Issuance of preferred stock		0
Issuance of common stock, net		0	0	0
Dividends paid on common and preferred stock		0	0	0
Contribution from parent			200	414
Distribution to parent		(2,474)	(6,404)	(3,515)
Intercompany financing		(4,944)	(667)	(15,093)
Net cash provided by (used in) financing activities		(11,593)	(10,873)	7,108
Net increase (decrease) in cash and cash equivalents		1,018	437	1,481
Effect of foreign currency translation on cash and cash equivalents		675	(47)	(45)
Cash and cash equivalents, beginning of period		4,820	4,430	2,994
Cash and cash equivalents, end of period		$ 6,513	$ 4,820	$ 4,430

PRO FORMA FINANCIAL INFORMATI87

PRO FORMA FINANCIAL INFORMATION (UNAUDITED) - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)PropertyFacilitiy	Dec. 31, 2016USD ($)Facilitiy	Dec. 31, 2015USD ($)
Business Acquisition [Line Items]
Merger and acquisition costs	$ 30,255	$ 1,197	$ 7,023
Recent Real Estate Acquisitions
Business Acquisition [Line Items]
Merger and acquisition costs		$ 1,100
Recent Real Estate Acquisitions | Skilled Nursing/Transitional Care
Business Acquisition [Line Items]
Number of real estate properties acquired | Facilitiy	22	1
Recent Real Estate Acquisitions | Senior Housing
Business Acquisition [Line Items]
Number of real estate properties acquired	2	3
Care Capital Properties
Business Acquisition [Line Items]
Merger and acquisition costs	$ 30,200

PRO FORMA FINANCIAL INFORMATI88

PRO FORMA FINANCIAL INFORMATION (UNAUDITED) - Summary of Pro Forma Information (Details) - Recent Real Estate Acquisitions - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition, Pro Forma Information [Abstract]
Revenues	$ 631,041	$ 627,475
Net income attributable to common stockholders	$ 292,551	$ 225,331
Net income attributable to common stockholders, per:
Basic common share (in dollars per share)	$ 1.78	$ 1.41
Diluted common share (in dollars per share)	$ 1.78	$ 1.41
Weighted-average number of common shares outstanding, basic (in shares)	164,361,139	159,319,612
Weighted-average number of common shares outstanding, diluted (in shares)	164,582,331	159,556,033

SUBSEQUENT EVENTS - Enlivant Jo

SUBSEQUENT EVENTS - Enlivant Joint Ventures (Details) - Subsequent Event $ in Millions	Jan. 02, 2018USD ($)Propertydirector
Enlivant Joint Venture
Business Acquisition [Line Items]
Number of properties | Property	172
Enlivant Joint Venture
Business Acquisition [Line Items]
Ownership interest	49.00%
Purchase price of equity method investment	$ 352.7
Aggregate portfolio value	1,490
Portfolio indebtedness	791.3
Net working capital	$ 22.9
Number of directors appointed by minority interest | director	3
Total number of directors | director	7
Enlivant
Business Acquisition [Line Items]
Number of housing communities acquired | Property	11
Purchases of housing communities	$ 138.3
Net working capital	$ 14.1

SUBSEQUENT EVENTS - Dividend De

SUBSEQUENT EVENTS - Dividend Declaration (Details) - $ / shares	Feb. 05, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Subsequent Event
Common stock dividends declared (in dollars per share)		$ 1.73	$ 1.67	$ 1.60
Dividend Declared | Subsequent Event
Subsequent Event
Common stock dividends declared (in dollars per share)	$ 0.45
Dividend Declared | Series A Preferred Stock | Subsequent Event
Subsequent Event
Preferred stock dividends declared (in dollars per share)	$ 0.4453125

SCHEDULE II - VALUATION AND Q91

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 10,111	$ 13,442	$ 600
Charged to Earnings	17,113	5,543	12,842
Recoveries	0	0	0
Uncollectible Accounts Written-off	(9,251)	(8,862)	0
Foreign Currency Translation due to Charges	0	(12)	0
Balance at End of Year	17,973	10,111	13,442
Allowance for doubtful accounts
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	3,693	3,811	0
Charged to Earnings	2,100	235	3,811
Recoveries	0	0	0
Uncollectible Accounts Written-off	(273)	(353)	0
Foreign Currency Translation due to Charges	0	0	0
Balance at End of Year	5,520	3,693	3,811
Straight-line rent receivable allowance
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	3,668	5,331	600
Charged to Earnings	10,487	3,540	4,731
Recoveries	0	0	0
Uncollectible Accounts Written-off	(1,800)	(5,191)	0
Foreign Currency Translation due to Charges	0	(12)	0
Balance at End of Year	12,355	3,668	5,331
Loan loss reserves
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	2,750	4,300	0
Charged to Earnings	4,526	1,768	4,300
Recoveries	0	0	0
Uncollectible Accounts Written-off	(7,178)	(3,318)	0
Foreign Currency Translation due to Charges	0	0	0
Balance at End of Year	$ 98	$ 2,750	$ 4,300

SCHEDULE III - REAL ESTATE AS92

SCHEDULE III - REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION - Summary of Real Estate Properties (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Real Estate and Accumulated Depreciation
Encumbrances	$ 259,202,000
Initial Cost to Company
Land	648,889,000
Buildings and Improvements	5,674,331,000
Total	6,323,220,000
Cost Capitalized Subsequent to Acquisition	35,780,000
Gross Amount at which Carried at Close of Period
Land	649,095,000
Building and Improvements	5,685,760,000
Total	6,334,855,000	$ 2,292,751,000	$ 2,277,457,000	$ 1,831,799,000
Accumulated Depreciation and Amortization	(340,423,000)	$ (282,812,000)	$ (237,841,000)	$ (185,994,000)
Deferred financing costs, net	21,214,000
Aggregate cost of real estate for federal income tax purposes	5,100,000,000
Multi-property Indebtedness
Gross Amount at which Carried at Close of Period
Deferred financing costs, net	2,800,000
Operating Segments
Real Estate and Accumulated Depreciation
Encumbrances	259,202,000
Initial Cost to Company
Land	648,889,000
Buildings and Improvements	5,674,195,000
Total	6,323,084,000
Cost Capitalized Subsequent to Acquisition	35,323,000
Gross Amount at which Carried at Close of Period
Land	649,095,000
Building and Improvements	5,685,167,000
Total	6,334,262,000
Accumulated Depreciation and Amortization	(340,154,000)
Corporate Assets
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	0
Buildings and Improvements	136,000
Total	136,000
Cost Capitalized Subsequent to Acquisition	457,000
Gross Amount at which Carried at Close of Period
Land	0
Building and Improvements	593,000
Total	593,000
Accumulated Depreciation and Amortization	(269,000)
Multi-property Indebtedness
Real Estate and Accumulated Depreciation
Encumbrances	110,130,000
Initial Cost to Company
Land	0
Buildings and Improvements	0
Total	0
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	0
Building and Improvements	0
Total	0
Accumulated Depreciation and Amortization	0
Various Skilled Nursing/Transitional Care and Leased Senior Housing Facilities | Multi-property Indebtedness | Real Estate
Gross Amount at which Carried at Close of Period
Collateral amount	11,600,000
Various Senior Housing Facilities - Leased | Multi-property Indebtedness | Real Estate
Gross Amount at which Carried at Close of Period
Collateral amount	98,500,000
Skilled Nursing/Transitional Care Facilities
Real Estate and Accumulated Depreciation
Encumbrances	100,698,000
Initial Cost to Company
Land	452,641,000
Buildings and Improvements	3,913,052,000
Total	4,365,693,000
Cost Capitalized Subsequent to Acquisition	28,238,000
Gross Amount at which Carried at Close of Period
Land	452,372,000
Building and Improvements	3,912,015,000
Total	4,364,387,000
Accumulated Depreciation and Amortization	(209,039,000)
Skilled Nursing/Transitional Care Facilities | New Martinsville
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	475,000
Buildings and Improvements	10,543,000
Total	11,018,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	475,000
Building and Improvements	10,331,000
Total	10,806,000
Accumulated Depreciation and Amortization	$ (4,317,000)
Life on Which Depreciation in Latest Income Statement is Computed	39 years
Skilled Nursing/Transitional Care Facilities | Glenville
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	484,000
Buildings and Improvements	2,839,000
Total	3,323,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	484,000
Building and Improvements	2,719,000
Total	3,203,000
Accumulated Depreciation and Amortization	$ (830,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Greenwood
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,066,000
Buildings and Improvements	10,178,000
Total	12,244,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,066,000
Building and Improvements	9,771,000
Total	11,837,000
Accumulated Depreciation and Amortization	$ (4,589,000)
Life on Which Depreciation in Latest Income Statement is Computed	24 years
Skilled Nursing/Transitional Care Facilities | Forest Hills (SNF)
Initial Cost to Company
Land	$ 1,653,000
Buildings and Improvements	11,259,000
Total	12,912,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,653,000
Building and Improvements	10,888,000
Total	12,541,000
Accumulated Depreciation and Amortization	$ (4,339,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Seminole Estates
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	655,000
Buildings and Improvements	3,527,000
Total	4,182,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	655,000
Building and Improvements	3,231,000
Total	3,886,000
Accumulated Depreciation and Amortization	$ (972,000)
Life on Which Depreciation in Latest Income Statement is Computed	32 years
Skilled Nursing/Transitional Care Facilities | Forest View
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	819,000
Buildings and Improvements	4,214,000
Total	5,033,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	819,000
Building and Improvements	3,926,000
Total	4,745,000
Accumulated Depreciation and Amortization	$ (1,837,000)
Life on Which Depreciation in Latest Income Statement is Computed	24 years
Skilled Nursing/Transitional Care Facilities | San Juan
Real Estate and Accumulated Depreciation
Encumbrances	$ 9,504,000
Initial Cost to Company
Land	799,000
Buildings and Improvements	4,163,000
Total	4,962,000
Cost Capitalized Subsequent to Acquisition	3,000
Gross Amount at which Carried at Close of Period
Land	799,000
Building and Improvements	3,791,000
Total	4,590,000
Accumulated Depreciation and Amortization	$ (1,612,000)
Life on Which Depreciation in Latest Income Statement is Computed	24 years
Skilled Nursing/Transitional Care Facilities | McKinley Care
Real Estate and Accumulated Depreciation
Encumbrances	$ 5,448,000
Initial Cost to Company
Land	409,000
Buildings and Improvements	1,865,000
Total	2,274,000
Cost Capitalized Subsequent to Acquisition	4,000
Gross Amount at which Carried at Close of Period
Land	409,000
Building and Improvements	1,753,000
Total	2,162,000
Accumulated Depreciation and Amortization	$ (753,000)
Life on Which Depreciation in Latest Income Statement is Computed	24 years
Skilled Nursing/Transitional Care Facilities | Bedford Hills
Real Estate and Accumulated Depreciation
Encumbrances	$ 6,142,000
Initial Cost to Company
Land	1,911,000
Buildings and Improvements	12,245,000
Total	14,156,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,911,000
Building and Improvements	11,308,000
Total	13,219,000
Accumulated Depreciation and Amortization	$ (3,956,000)
Life on Which Depreciation in Latest Income Statement is Computed	36 years
Skilled Nursing/Transitional Care Facilities | Exeter on Hampton
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,365,000
Buildings and Improvements	2,350,000
Total	4,715,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,365,000
Building and Improvements	659,000
Total	3,024,000
Accumulated Depreciation and Amortization	$ (389,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Pheasant Wood
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	625,000
Buildings and Improvements	3,986,000
Total	4,611,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	625,000
Building and Improvements	3,396,000
Total	4,021,000
Accumulated Depreciation and Amortization	$ (1,509,000)
Life on Which Depreciation in Latest Income Statement is Computed	28 years
Skilled Nursing/Transitional Care Facilities | Westwood
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	699,000
Buildings and Improvements	3,823,000
Total	4,522,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	699,000
Building and Improvements	3,320,000
Total	4,019,000
Accumulated Depreciation and Amortization	$ (1,781,000)
Life on Which Depreciation in Latest Income Statement is Computed	24 years
Skilled Nursing/Transitional Care Facilities | Colonial Hill
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	412,000
Buildings and Improvements	3,960,000
Total	4,372,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	412,000
Building and Improvements	3,331,000
Total	3,743,000
Accumulated Depreciation and Amortization	$ (1,340,000)
Life on Which Depreciation in Latest Income Statement is Computed	44 years
Skilled Nursing/Transitional Care Facilities | Crestwood Care
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	557,000
Buildings and Improvements	3,441,000
Total	3,998,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	557,000
Building and Improvements	2,941,000
Total	3,498,000
Accumulated Depreciation and Amortization	$ (1,364,000)
Life on Which Depreciation in Latest Income Statement is Computed	28 years
Skilled Nursing/Transitional Care Facilities | Applewood
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	348,000
Buildings and Improvements	3,075,000
Total	3,423,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	348,000
Building and Improvements	2,654,000
Total	3,002,000
Accumulated Depreciation and Amortization	$ (1,047,000)
Life on Which Depreciation in Latest Income Statement is Computed	32 years
Skilled Nursing/Transitional Care Facilities | The Elms Care
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	312,000
Buildings and Improvements	1,679,000
Total	1,991,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	312,000
Building and Improvements	1,464,000
Total	1,776,000
Accumulated Depreciation and Amortization	$ (869,000)
Life on Which Depreciation in Latest Income Statement is Computed	20 years
Skilled Nursing/Transitional Care Facilities | Woodland Hill
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,706,000
Buildings and Improvements	8,053,000
Total	9,759,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,706,000
Building and Improvements	7,569,000
Total	9,275,000
Accumulated Depreciation and Amortization	$ (2,618,000)
Life on Which Depreciation in Latest Income Statement is Computed	32 years
Skilled Nursing/Transitional Care Facilities | Missouri River
Real Estate and Accumulated Depreciation
Encumbrances	$ 10,841,000
Initial Cost to Company
Land	2,023,000
Buildings and Improvements	16,967,000
Total	18,990,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,023,000
Building and Improvements	15,916,000
Total	17,939,000
Accumulated Depreciation and Amortization	$ (6,814,000)
Life on Which Depreciation in Latest Income Statement is Computed	30 years
Skilled Nursing/Transitional Care Facilities | Butte Care
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,092,000
Buildings and Improvements	12,654,000
Total	13,746,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,092,000
Building and Improvements	12,449,000
Total	13,541,000
Accumulated Depreciation and Amortization	$ (4,706,000)
Life on Which Depreciation in Latest Income Statement is Computed	35 years
Skilled Nursing/Transitional Care Facilities | Whitefish Care
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	651,000
Buildings and Improvements	6,339,000
Total	6,990,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	651,000
Building and Improvements	6,186,000
Total	6,837,000
Accumulated Depreciation and Amortization	$ (2,421,000)
Life on Which Depreciation in Latest Income Statement is Computed	35 years
Skilled Nursing/Transitional Care Facilities | Deer Lodge
Real Estate and Accumulated Depreciation
Encumbrances	$ 4,129,000
Initial Cost to Company
Land	190,000
Buildings and Improvements	3,032,000
Total	3,222,000
Cost Capitalized Subsequent to Acquisition	2,000
Gross Amount at which Carried at Close of Period
Land	190,000
Building and Improvements	2,637,000
Total	2,827,000
Accumulated Depreciation and Amortization	$ (1,071,000)
Life on Which Depreciation in Latest Income Statement is Computed	30 years
Skilled Nursing/Transitional Care Facilities | Twin Oaks
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	885,000
Buildings and Improvements	5,100,000
Total	5,985,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	885,000
Building and Improvements	4,366,000
Total	5,251,000
Accumulated Depreciation and Amortization	$ (1,973,000)
Life on Which Depreciation in Latest Income Statement is Computed	24 years
Skilled Nursing/Transitional Care Facilities | Maplewood
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	771,000
Buildings and Improvements	4,550,000
Total	5,321,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	771,000
Building and Improvements	3,695,000
Total	4,466,000
Accumulated Depreciation and Amortization	$ (1,666,000)
Life on Which Depreciation in Latest Income Statement is Computed	24 years
Skilled Nursing/Transitional Care Facilities | Saugus
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	285,000
Buildings and Improvements	1,643,000
Total	1,928,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	285,000
Building and Improvements	1,006,000
Total	1,291,000
Accumulated Depreciation and Amortization	$ (516,000)
Life on Which Depreciation in Latest Income Statement is Computed	24 years
Skilled Nursing/Transitional Care Facilities | Countryside Care
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	239,000
Buildings and Improvements	4,790,000
Total	5,029,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	239,000
Building and Improvements	4,409,000
Total	4,648,000
Accumulated Depreciation and Amortization	$ (1,437,000)
Life on Which Depreciation in Latest Income Statement is Computed	35 years
Skilled Nursing/Transitional Care Facilities | Barkley Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	325,000
Buildings and Improvements	4,019,000
Total	4,344,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	325,000
Building and Improvements	3,395,000
Total	3,720,000
Accumulated Depreciation and Amortization	$ (1,098,000)
Life on Which Depreciation in Latest Income Statement is Computed	35 years
Skilled Nursing/Transitional Care Facilities | Gooding/Bennett Hills
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	0
Buildings and Improvements	1,731,000
Total	1,731,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	0
Building and Improvements	1,719,000
Total	1,719,000
Accumulated Depreciation and Amortization	$ (992,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Oakhurst
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,474,000
Buildings and Improvements	8,212,000
Total	9,686,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,474,000
Building and Improvements	7,489,000
Total	8,963,000
Accumulated Depreciation and Amortization	$ (2,810,000)
Life on Which Depreciation in Latest Income Statement is Computed	32 years
Skilled Nursing/Transitional Care Facilities | Orchard Ridge
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	536,000
Buildings and Improvements	5,685,000
Total	6,221,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	536,000
Building and Improvements	5,220,000
Total	5,756,000
Accumulated Depreciation and Amortization	$ (1,944,000)
Life on Which Depreciation in Latest Income Statement is Computed	32 years
Skilled Nursing/Transitional Care Facilities | Bay Tree
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	786,000
Buildings and Improvements	4,870,000
Total	5,656,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	786,000
Building and Improvements	4,309,000
Total	5,095,000
Accumulated Depreciation and Amortization	$ (1,820,000)
Life on Which Depreciation in Latest Income Statement is Computed	32 years
Skilled Nursing/Transitional Care Facilities | West Bay
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	775,000
Buildings and Improvements	4,660,000
Total	5,435,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	775,000
Building and Improvements	4,103,000
Total	4,878,000
Accumulated Depreciation and Amortization	$ (1,629,000)
Life on Which Depreciation in Latest Income Statement is Computed	32 years
Skilled Nursing/Transitional Care Facilities | Sunset Point
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	706,000
Buildings and Improvements	4,370,000
Total	5,076,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	706,000
Building and Improvements	3,880,000
Total	4,586,000
Accumulated Depreciation and Amortization	$ (1,624,000)
Life on Which Depreciation in Latest Income Statement is Computed	32 years
Skilled Nursing/Transitional Care Facilities | Arden House
Real Estate and Accumulated Depreciation
Encumbrances	$ 18,772,000
Initial Cost to Company
Land	2,250,000
Buildings and Improvements	23,816,000
Total	26,066,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,250,000
Building and Improvements	22,785,000
Total	25,035,000
Accumulated Depreciation and Amortization	$ (8,877,000)
Life on Which Depreciation in Latest Income Statement is Computed	28 years
Skilled Nursing/Transitional Care Facilities | Pope John Paul
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	0
Buildings and Improvements	13,702,000
Total	13,702,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	0
Building and Improvements	12,642,000
Total	12,642,000
Accumulated Depreciation and Amortization	$ (4,450,000)
Life on Which Depreciation in Latest Income Statement is Computed	32 years
Skilled Nursing/Transitional Care Facilities | St. Camillus
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	0
Buildings and Improvements	12,528,000
Total	12,528,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	0
Building and Improvements	11,261,000
Total	11,261,000
Accumulated Depreciation and Amortization	$ (3,982,000)
Life on Which Depreciation in Latest Income Statement is Computed	32 years
Skilled Nursing/Transitional Care Facilities | Madison House
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	4,337,000
Buildings and Improvements	8,164,000
Total	12,501,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	4,337,000
Building and Improvements	7,673,000
Total	12,010,000
Accumulated Depreciation and Amortization	$ (2,541,000)
Life on Which Depreciation in Latest Income Statement is Computed	36 years
Skilled Nursing/Transitional Care Facilities | Willows (CT)
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,838,000
Buildings and Improvements	9,961,000
Total	11,799,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,838,000
Building and Improvements	9,100,000
Total	10,938,000
Accumulated Depreciation and Amortization	$ (3,375,000)
Life on Which Depreciation in Latest Income Statement is Computed	32 years
Skilled Nursing/Transitional Care Facilities | The Reservoir
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,204,000
Buildings and Improvements	9,457,000
Total	10,661,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,204,000
Building and Improvements	9,090,000
Total	10,294,000
Accumulated Depreciation and Amortization	$ (3,082,000)
Life on Which Depreciation in Latest Income Statement is Computed	36 years
Skilled Nursing/Transitional Care Facilities | Glen Hill
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	918,000
Buildings and Improvements	7,017,000
Total	7,935,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	918,000
Building and Improvements	6,412,000
Total	7,330,000
Accumulated Depreciation and Amortization	$ (3,206,000)
Life on Which Depreciation in Latest Income Statement is Computed	24 years
Skilled Nursing/Transitional Care Facilities | Governor's House
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	0
Buildings and Improvements	5,750,000
Total	5,750,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	0
Building and Improvements	5,154,000
Total	5,154,000
Accumulated Depreciation and Amortization	$ (2,810,000)
Life on Which Depreciation in Latest Income Statement is Computed	20 years
Skilled Nursing/Transitional Care Facilities | Elms Haven
Real Estate and Accumulated Depreciation
Encumbrances	$ 14,432,000
Initial Cost to Company
Land	3,717,000
Buildings and Improvements	18,473,000
Total	22,190,000
Cost Capitalized Subsequent to Acquisition	7,000
Gross Amount at which Carried at Close of Period
Land	3,716,000
Building and Improvements	17,726,000
Total	21,442,000
Accumulated Depreciation and Amortization	$ (6,280,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Carmichael
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	0
Buildings and Improvements	1,741,000
Total	1,741,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	0
Building and Improvements	1,083,000
Total	1,083,000
Accumulated Depreciation and Amortization	$ (722,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Willows (CA)
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	137,000
Buildings and Improvements	1,426,000
Total	1,563,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	137,000
Building and Improvements	1,076,000
Total	1,213,000
Accumulated Depreciation and Amortization	$ (672,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Washington Care
Real Estate and Accumulated Depreciation
Encumbrances	$ 9,111,000
Initial Cost to Company
Land	0
Buildings and Improvements	1,331,000
Total	1,331,000
Cost Capitalized Subsequent to Acquisition	8,000
Gross Amount at which Carried at Close of Period
Land	0
Building and Improvements	1,116,000
Total	1,116,000
Accumulated Depreciation and Amortization	$ (634,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Lake Drive
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	160,000
Buildings and Improvements	549,000
Total	709,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	160,000
Building and Improvements	75,000
Total	235,000
Accumulated Depreciation and Amortization	$ (56,000)
Life on Which Depreciation in Latest Income Statement is Computed	10 years
Skilled Nursing/Transitional Care Facilities | Mineral Springs
Real Estate and Accumulated Depreciation
Encumbrances	$ 12,114,000
Initial Cost to Company
Land	417,000
Buildings and Improvements	5,352,000
Total	5,769,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	417,000
Building and Improvements	4,746,000
Total	5,163,000
Accumulated Depreciation and Amortization	$ (1,682,000)
Life on Which Depreciation in Latest Income Statement is Computed	43 years
Skilled Nursing/Transitional Care Facilities | Wolfeboro
Real Estate and Accumulated Depreciation
Encumbrances	$ 10,205,000
Initial Cost to Company
Land	454,000
Buildings and Improvements	4,531,000
Total	4,985,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	454,000
Building and Improvements	4,124,000
Total	4,578,000
Accumulated Depreciation and Amortization	$ (1,443,000)
Life on Which Depreciation in Latest Income Statement is Computed	41 years
Skilled Nursing/Transitional Care Facilities | Meridian Care
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	840,000
Buildings and Improvements	8,342,000
Total	9,182,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	840,000
Building and Improvements	7,854,000
Total	8,694,000
Accumulated Depreciation and Amortization	$ (3,425,000)
Life on Which Depreciation in Latest Income Statement is Computed	39 years
Skilled Nursing/Transitional Care Facilities | St. Joseph's
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	0
Buildings and Improvements	21,878,000
Total	21,878,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	0
Building and Improvements	20,773,000
Total	20,773,000
Accumulated Depreciation and Amortization	$ (9,456,000)
Life on Which Depreciation in Latest Income Statement is Computed	24 years
Skilled Nursing/Transitional Care Facilities | Broadmeadow Healthcare
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,650,000
Buildings and Improvements	21,730,000
Total	23,380,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,650,000
Building and Improvements	21,730,000
Total	23,380,000
Accumulated Depreciation and Amortization	$ (4,015,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Capitol Healthcare
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	4,940,000
Buildings and Improvements	15,500,000
Total	20,440,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	4,940,000
Building and Improvements	15,500,000
Total	20,440,000
Accumulated Depreciation and Amortization	$ (2,995,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Pike Creek Healthcare
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,460,000
Buildings and Improvements	25,240,000
Total	27,700,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,460,000
Building and Improvements	25,240,000
Total	27,700,000
Accumulated Depreciation and Amortization	$ (4,715,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Renaissance Healthcare
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,640,000
Buildings and Improvements	22,620,000
Total	24,260,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,640,000
Building and Improvements	22,620,000
Total	24,260,000
Accumulated Depreciation and Amortization	$ (4,308,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Clara Burke
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,527,000
Buildings and Improvements	12,453,000
Total	14,980,000
Cost Capitalized Subsequent to Acquisition	179,000
Gross Amount at which Carried at Close of Period
Land	2,527,000
Building and Improvements	12,631,000
Total	15,158,000
Accumulated Depreciation and Amortization	$ (2,256,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Warrington
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,617,000
Buildings and Improvements	11,662,000
Total	14,279,000
Cost Capitalized Subsequent to Acquisition	106,000
Gross Amount at which Carried at Close of Period
Land	2,617,000
Building and Improvements	11,768,000
Total	14,385,000
Accumulated Depreciation and Amortization	$ (1,924,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Ridgecrest
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	509,000
Buildings and Improvements	5,018,000
Total	5,527,000
Cost Capitalized Subsequent to Acquisition	861,000
Gross Amount at which Carried at Close of Period
Land	509,000
Building and Improvements	5,879,000
Total	6,388,000
Accumulated Depreciation and Amortization	$ (1,123,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Camden Care Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,235,000
Buildings and Improvements	5,777,000
Total	7,012,000
Cost Capitalized Subsequent to Acquisition	50,000
Gross Amount at which Carried at Close of Period
Land	970,000
Building and Improvements	3,880,000
Total	4,850,000
Accumulated Depreciation and Amortization	$ 0
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Arbrook Plaza
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,783,000
Buildings and Improvements	14,219,000
Total	18,002,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	3,783,000
Building and Improvements	14,219,000
Total	18,002,000
Accumulated Depreciation and Amortization	$ (2,077,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Northgate Plaza
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	4,901,000
Buildings and Improvements	10,299,000
Total	15,200,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	4,901,000
Building and Improvements	10,299,000
Total	15,200,000
Accumulated Depreciation and Amortization	$ (1,550,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Gulf Pointe Plaza
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,005,000
Buildings and Improvements	6,628,000
Total	7,633,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,005,000
Building and Improvements	6,628,000
Total	7,633,000
Accumulated Depreciation and Amortization	$ (1,048,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Gateway Senior Living
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	6,368,000
Buildings and Improvements	29,919,000
Total	36,287,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	6,368,000
Building and Improvements	29,919,000
Total	36,287,000
Accumulated Depreciation and Amortization	$ (3,298,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Legacy
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	615,000
Buildings and Improvements	16,176,000
Total	16,791,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	615,000
Building and Improvements	16,176,000
Total	16,791,000
Accumulated Depreciation and Amortization	$ (1,956,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Pointe
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	615,000
Buildings and Improvements	2,943,000
Total	3,558,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	615,000
Building and Improvements	2,943,000
Total	3,558,000
Accumulated Depreciation and Amortization	$ (422,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Regency
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	246,000
Buildings and Improvements	6,206,000
Total	6,452,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	246,000
Building and Improvements	6,206,000
Total	6,452,000
Accumulated Depreciation and Amortization	$ (914,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Parkmoor Village
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	430,000
Buildings and Improvements	13,703,000
Total	14,133,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	430,000
Building and Improvements	13,703,000
Total	14,133,000
Accumulated Depreciation and Amortization	$ (1,733,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Onion Creek
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	871,000
Buildings and Improvements	12,843,000
Total	13,714,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	871,000
Building and Improvements	12,843,000
Total	13,714,000
Accumulated Depreciation and Amortization	$ (1,345,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Adams PARC
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,332,000
Buildings and Improvements	6,904,000
Total	8,236,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,332,000
Building and Improvements	6,904,000
Total	8,236,000
Accumulated Depreciation and Amortization	$ (687,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | PARCway
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,189,000
Buildings and Improvements	23,567,000
Total	25,756,000
Cost Capitalized Subsequent to Acquisition	460,000
Gross Amount at which Carried at Close of Period
Land	2,189,000
Building and Improvements	24,028,000
Total	26,217,000
Accumulated Depreciation and Amortization	$ (2,087,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Brookhaven Extensive Care
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	869,000
Buildings and Improvements	5,236,000
Total	6,105,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	869,000
Building and Improvements	5,237,000
Total	6,106,000
Accumulated Depreciation and Amortization	$ (582,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | St. Thomas More Medical Complex
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	6,343,000
Buildings and Improvements	65,573,000
Total	71,916,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	6,343,000
Building and Improvements	65,573,000
Total	71,916,000
Accumulated Depreciation and Amortization	$ (4,937,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Bay Ridge Healthcare Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,548,000
Buildings and Improvements	40,773,000
Total	42,321,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,548,000
Building and Improvements	40,773,000
Total	42,321,000
Accumulated Depreciation and Amortization	$ (2,846,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | NMS Healthcare of Silver Spring
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	676,000
Buildings and Improvements	56,897,000
Total	57,573,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	676,000
Building and Improvements	56,897,000
Total	57,573,000
Accumulated Depreciation and Amortization	$ (3,915,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | NMS Healthcare of Hagerstown
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,475,000
Buildings and Improvements	56,237,000
Total	57,712,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,475,000
Building and Improvements	56,237,000
Total	57,712,000
Accumulated Depreciation and Amortization	$ (3,271,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | NMS Healthcare of Springbrook
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	963,000
Buildings and Improvements	48,085,000
Total	49,048,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	963,000
Building and Improvements	48,084,000
Total	49,047,000
Accumulated Depreciation and Amortization	$ (1,907,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Andrew Residence
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,931,000
Buildings and Improvements	6,943,000
Total	9,874,000
Cost Capitalized Subsequent to Acquisition	90,000
Gross Amount at which Carried at Close of Period
Land	2,931,000
Building and Improvements	7,033,000
Total	9,964,000
Accumulated Depreciation and Amortization	$ (78,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Atrium Post Acute Care of Chilton
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	230,000
Buildings and Improvements	3,645,000
Total	3,875,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	230,000
Building and Improvements	3,645,000
Total	3,875,000
Accumulated Depreciation and Amortization	$ (34,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Fox River Nursing and Rehab Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,220,000
Buildings and Improvements	2,351,000
Total	3,571,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,220,000
Building and Improvements	2,351,000
Total	3,571,000
Accumulated Depreciation and Amortization	$ (22,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Bridgewood Nursing and Rehab Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	890,000
Buildings and Improvements	2,985,000
Total	3,875,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	890,000
Building and Improvements	2,985,000
Total	3,875,000
Accumulated Depreciation and Amortization	$ (30,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Kennedy Park Nursing and Rehab Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,000,000
Buildings and Improvements	2,875,000
Total	3,875,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,000,000
Building and Improvements	2,875,000
Total	3,875,000
Accumulated Depreciation and Amortization	$ (28,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avamere Riverpark of Eugene
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,205,000
Buildings and Improvements	28,700,000
Total	30,905,000
Cost Capitalized Subsequent to Acquisition	2,252,000
Gross Amount at which Carried at Close of Period
Land	2,205,000
Building and Improvements	30,952,000
Total	33,157,000
Accumulated Depreciation and Amortization	$ (310,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avamere Rehab of Lebanon
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	958,000
Buildings and Improvements	14,176,000
Total	15,134,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	958,000
Building and Improvements	14,176,000
Total	15,134,000
Accumulated Depreciation and Amortization	$ (128,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avamere Crestview of Portland
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,791,000
Buildings and Improvements	12,833,000
Total	14,624,000
Cost Capitalized Subsequent to Acquisition	2,761,000
Gross Amount at which Carried at Close of Period
Land	1,791,000
Building and Improvements	15,594,000
Total	17,385,000
Accumulated Depreciation and Amortization	$ (182,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avamere Rehabilitation of King City
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,011,000
Buildings and Improvements	11,667,000
Total	13,678,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,011,000
Building and Improvements	11,667,000
Total	13,678,000
Accumulated Depreciation and Amortization	$ (109,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avamere Rehabilitation of Hillsboro
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,387,000
Buildings and Improvements	14,028,000
Total	15,415,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,387,000
Building and Improvements	14,028,000
Total	15,415,000
Accumulated Depreciation and Amortization	$ (126,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avamere Rehab of Junction City
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	584,000
Buildings and Improvements	7,901,000
Total	8,485,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	584,000
Building and Improvements	7,901,000
Total	8,485,000
Accumulated Depreciation and Amortization	$ (74,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avamere Rehab of Eugene
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,380,000
Buildings and Improvements	14,921,000
Total	16,301,000
Cost Capitalized Subsequent to Acquisition	1,791,000
Gross Amount at which Carried at Close of Period
Land	1,380,000
Building and Improvements	16,712,000
Total	18,092,000
Accumulated Depreciation and Amortization	$ (180,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avamere Rehab of Coos Bay
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	829,000
Buildings and Improvements	8,518,000
Total	9,347,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	829,000
Building and Improvements	8,518,000
Total	9,347,000
Accumulated Depreciation and Amortization	$ (83,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avamere Twin Oaks of Sweet Home
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	238,000
Buildings and Improvements	3,338,000
Total	3,576,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	238,000
Building and Improvements	3,338,000
Total	3,576,000
Accumulated Depreciation and Amortization	$ (32,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avamere Rehab of Clackamas
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	792,000
Buildings and Improvements	5,000,000
Total	5,792,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	792,000
Building and Improvements	5,000,000
Total	5,792,000
Accumulated Depreciation and Amortization	$ (48,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avamere Rehab of Newport
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	406,000
Buildings and Improvements	5,001,000
Total	5,407,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	406,000
Building and Improvements	5,001,000
Total	5,407,000
Accumulated Depreciation and Amortization	$ (46,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avamere Rehab of Oregon City
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,496,000
Buildings and Improvements	12,142,000
Total	13,638,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,496,000
Building and Improvements	12,142,000
Total	13,638,000
Accumulated Depreciation and Amortization	$ (109,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avamere Transitional Care of Puget Sound
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,771,000
Buildings and Improvements	11,595,000
Total	13,366,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,771,000
Building and Improvements	11,595,000
Total	13,366,000
Accumulated Depreciation and Amortization	$ (121,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Richmond Beach Rehab
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	4,703,000
Buildings and Improvements	14,444,000
Total	19,147,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	4,703,000
Building and Improvements	14,444,000
Total	19,147,000
Accumulated Depreciation and Amortization	$ (135,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | St. Francis of Bellingham
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	0
Buildings and Improvements	15,330,000
Total	15,330,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	0
Building and Improvements	15,330,000
Total	15,330,000
Accumulated Depreciation and Amortization	$ (144,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avamere Olympic Rehabilitation of Sequim
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	427,000
Buildings and Improvements	4,450,000
Total	4,877,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	427,000
Building and Improvements	4,450,000
Total	4,877,000
Accumulated Depreciation and Amortization	$ (50,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avamere Heritage Rehabilitation of Tacoma
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,705,000
Buildings and Improvements	4,952,000
Total	6,657,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,705,000
Building and Improvements	4,952,000
Total	6,657,000
Accumulated Depreciation and Amortization	$ (49,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avamere at Pacific Ridge
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,195,000
Buildings and Improvements	1,956,000
Total	4,151,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,195,000
Building and Improvements	1,956,000
Total	4,151,000
Accumulated Depreciation and Amortization	$ (25,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avamere Rehabilitation of Cascade Park
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,782,000
Buildings and Improvements	15,116,000
Total	16,898,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,782,000
Building and Improvements	15,116,000
Total	16,898,000
Accumulated Depreciation and Amortization	$ (147,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | The Pearl at Kruse Way
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	5,947,000
Buildings and Improvements	13,401,000
Total	19,348,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	5,947,000
Building and Improvements	13,401,000
Total	19,348,000
Accumulated Depreciation and Amortization	$ (126,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avamere at Medford
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,043,000
Buildings and Improvements	38,485,000
Total	40,528,000
Cost Capitalized Subsequent to Acquisition	2,960,000
Gross Amount at which Carried at Close of Period
Land	2,043,000
Building and Improvements	41,445,000
Total	43,488,000
Accumulated Depreciation and Amortization	$ (409,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avamere Bellingham Healthcare and Rehab Services
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,908,000
Buildings and Improvements	2,058,000
Total	4,966,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,908,000
Building and Improvements	2,058,000
Total	4,966,000
Accumulated Depreciation and Amortization	$ (26,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Queen Anne Healthcare
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,508,000
Buildings and Improvements	6,401,000
Total	8,909,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,508,000
Building and Improvements	6,401,000
Total	8,909,000
Accumulated Depreciation and Amortization	$ (61,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avamere Transitional Care and Rehab - Boise
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	681,000
Buildings and Improvements	9,348,000
Total	10,029,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	681,000
Building and Improvements	9,348,000
Total	10,029,000
Accumulated Depreciation and Amortization	$ (89,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avamere Transitional Care at Sunnyside
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,114,000
Buildings and Improvements	15,651,000
Total	17,765,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,114,000
Building and Improvements	15,651,000
Total	17,765,000
Accumulated Depreciation and Amortization	$ (145,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avamere Health Services of Rogue Valley
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,375,000
Buildings and Improvements	23,808,000
Total	25,183,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,375,000
Building and Improvements	23,808,000
Total	25,183,000
Accumulated Depreciation and Amortization	$ (223,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avamere Transitional Care and Rehab - Malley
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,662,000
Buildings and Improvements	26,014,000
Total	27,676,000
Cost Capitalized Subsequent to Acquisition	3,258,000
Gross Amount at which Carried at Close of Period
Land	1,662,000
Building and Improvements	29,273,000
Total	30,935,000
Accumulated Depreciation and Amortization	$ (311,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avamere Transitional Care and Rehab - Brighton
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,933,000
Buildings and Improvements	11,624,000
Total	13,557,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,933,000
Building and Improvements	11,624,000
Total	13,557,000
Accumulated Depreciation and Amortization	$ (111,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Phoenix Rehabilitation Services
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,270,000
Buildings and Improvements	11,502,000
Total	12,772,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,270,000
Building and Improvements	11,502,000
Total	12,772,000
Accumulated Depreciation and Amortization	$ (104,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Tustin Subacute Care Facility
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,889,000
Buildings and Improvements	11,682,000
Total	13,571,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,889,000
Building and Improvements	11,682,000
Total	13,571,000
Accumulated Depreciation and Amortization	$ (102,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | La Mesa Inpatient Rehabilitation Facility
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,276,000
Buildings and Improvements	8,177,000
Total	9,453,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,276,000
Building and Improvements	8,177,000
Total	9,453,000
Accumulated Depreciation and Amortization	$ (75,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Westminster
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,128,000
Buildings and Improvements	6,614,000
Total	8,742,000
Cost Capitalized Subsequent to Acquisition	161,000
Gross Amount at which Carried at Close of Period
Land	2,128,000
Building and Improvements	6,775,000
Total	8,903,000
Accumulated Depreciation and Amortization	$ (79,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Maple Wood Care Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,142,000
Buildings and Improvements	3,226,000
Total	4,368,000
Cost Capitalized Subsequent to Acquisition	170,000
Gross Amount at which Carried at Close of Period
Land	1,142,000
Building and Improvements	3,396,000
Total	4,538,000
Accumulated Depreciation and Amortization	$ (57,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Garden Valley Nursing & Rehab
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,985,000
Buildings and Improvements	2,714,000
Total	4,699,000
Cost Capitalized Subsequent to Acquisition	112,000
Gross Amount at which Carried at Close of Period
Land	1,985,000
Building and Improvements	2,826,000
Total	4,811,000
Accumulated Depreciation and Amortization	$ (56,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Worthington Nursing & Rehab
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	697,000
Buildings and Improvements	10,688,000
Total	11,385,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	697,000
Building and Improvements	10,688,000
Total	11,385,000
Accumulated Depreciation and Amortization	$ (122,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Burlington House Rehabilitative and Alzheimers Care Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,686,000
Buildings and Improvements	10,062,000
Total	12,748,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,686,000
Building and Improvements	10,062,000
Total	12,748,000
Accumulated Depreciation and Amortization	$ (108,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Charlottesville
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,840,000
Buildings and Improvements	8,450,000
Total	11,290,000
Cost Capitalized Subsequent to Acquisition	140,000
Gross Amount at which Carried at Close of Period
Land	2,840,000
Building and Improvements	8,590,000
Total	11,430,000
Accumulated Depreciation and Amortization	$ (91,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Sleepy Hollow
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	7,241,000
Buildings and Improvements	17,727,000
Total	24,968,000
Cost Capitalized Subsequent to Acquisition	318,000
Gross Amount at which Carried at Close of Period
Land	7,241,000
Building and Improvements	18,045,000
Total	25,286,000
Accumulated Depreciation and Amortization	$ (179,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Petersburg
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	988,000
Buildings and Improvements	8,416,000
Total	9,404,000
Cost Capitalized Subsequent to Acquisition	1,000
Gross Amount at which Carried at Close of Period
Land	988,000
Building and Improvements	8,417,000
Total	9,405,000
Accumulated Depreciation and Amortization	$ (87,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Battlefield Park
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,174,000
Buildings and Improvements	8,858,000
Total	10,032,000
Cost Capitalized Subsequent to Acquisition	1,000
Gross Amount at which Carried at Close of Period
Land	1,174,000
Building and Improvements	8,859,000
Total	10,033,000
Accumulated Depreciation and Amortization	$ (89,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Hagerstown
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,393,000
Buildings and Improvements	13,438,000
Total	14,831,000
Cost Capitalized Subsequent to Acquisition	39,000
Gross Amount at which Carried at Close of Period
Land	1,393,000
Building and Improvements	13,476,000
Total	14,869,000
Accumulated Depreciation and Amortization	$ (131,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Cumberland
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	800,000
Buildings and Improvements	16,973,000
Total	17,773,000
Cost Capitalized Subsequent to Acquisition	9,000
Gross Amount at which Carried at Close of Period
Land	800,000
Building and Improvements	16,983,000
Total	17,783,000
Accumulated Depreciation and Amortization	$ (162,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Gilroy Healthcare and Rehabilitiation Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	662,000
Buildings and Improvements	23,775,000
Total	24,437,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	662,000
Building and Improvements	23,775,000
Total	24,437,000
Accumulated Depreciation and Amortization	$ (212,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | North Cascades Health and Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,437,000
Buildings and Improvements	14,196,000
Total	15,633,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,437,000
Building and Improvements	14,196,000
Total	15,633,000
Accumulated Depreciation and Amortization	$ (132,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Granite Rehabilitation & Wellness
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	387,000
Buildings and Improvements	13,613,000
Total	14,000,000
Cost Capitalized Subsequent to Acquisition	1,045,000
Gross Amount at which Carried at Close of Period
Land	387,000
Building and Improvements	14,659,000
Total	15,046,000
Accumulated Depreciation and Amortization	$ (122,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Rawlins Rehabilitation & Wellness
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	281,000
Buildings and Improvements	6,007,000
Total	6,288,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	281,000
Building and Improvements	6,007,000
Total	6,288,000
Accumulated Depreciation and Amortization	$ (56,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Wind River Rehabilitation & Wellness
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	199,000
Buildings and Improvements	11,398,000
Total	11,597,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	199,000
Building and Improvements	11,398,000
Total	11,597,000
Accumulated Depreciation and Amortization	$ (103,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Sage View Care Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	420,000
Buildings and Improvements	8,665,000
Total	9,085,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	420,000
Building and Improvements	8,665,000
Total	9,085,000
Accumulated Depreciation and Amortization	$ (82,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Shelton Health and Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	415,000
Buildings and Improvements	8,965,000
Total	9,380,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	415,000
Building and Improvements	8,965,000
Total	9,380,000
Accumulated Depreciation and Amortization	$ (90,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Dundee Nursing Home
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,437,000
Buildings and Improvements	4,631,000
Total	6,068,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,437,000
Building and Improvements	4,631,000
Total	6,068,000
Accumulated Depreciation and Amortization	$ (48,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Mt. Pleasant Nursing Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,689,000
Buildings and Improvements	3,942,000
Total	6,631,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,689,000
Building and Improvements	3,942,000
Total	6,631,000
Accumulated Depreciation and Amortization	$ (43,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Tri-State Comp Care Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,811,000
Buildings and Improvements	4,963,000
Total	6,774,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,811,000
Building and Improvements	4,963,000
Total	6,774,000
Accumulated Depreciation and Amortization	$ (55,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Emporia Manor
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,656,000
Buildings and Improvements	478,000
Total	2,134,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,656,000
Building and Improvements	478,000
Total	2,134,000
Accumulated Depreciation and Amortization	$ (7,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Epic-Conway
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,408,000
Buildings and Improvements	10,784,000
Total	12,192,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,408,000
Building and Improvements	10,784,000
Total	12,192,000
Accumulated Depreciation and Amortization	$ (108,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Epic- Bayview
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,842,000
Buildings and Improvements	11,389,000
Total	13,231,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,842,000
Building and Improvements	11,389,000
Total	13,231,000
Accumulated Depreciation and Amortization	$ (111,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Green Acres of Baytown
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	479,000
Buildings and Improvements	6,351,000
Total	6,830,000
Cost Capitalized Subsequent to Acquisition	85,000
Gross Amount at which Carried at Close of Period
Land	479,000
Building and Improvements	6,436,000
Total	6,915,000
Accumulated Depreciation and Amortization	$ (61,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Allenbrook Healthcare Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	426,000
Buildings and Improvements	3,236,000
Total	3,662,000
Cost Capitalized Subsequent to Acquisition	79,000
Gross Amount at which Carried at Close of Period
Land	426,000
Building and Improvements	3,316,000
Total	3,742,000
Accumulated Depreciation and Amortization	$ (36,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Green Acres of Huntsville
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	302,000
Buildings and Improvements	3,153,000
Total	3,455,000
Cost Capitalized Subsequent to Acquisition	54,000
Gross Amount at which Carried at Close of Period
Land	302,000
Building and Improvements	3,207,000
Total	3,509,000
Accumulated Depreciation and Amortization	$ (34,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Green Acres of Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	231,000
Buildings and Improvements	1,335,000
Total	1,566,000
Cost Capitalized Subsequent to Acquisition	187,000
Gross Amount at which Carried at Close of Period
Land	231,000
Building and Improvements	1,522,000
Total	1,753,000
Accumulated Depreciation and Amortization	$ (18,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Humble Healthcare Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,114,000
Buildings and Improvements	1,643,000
Total	3,757,000
Cost Capitalized Subsequent to Acquisition	380,000
Gross Amount at which Carried at Close of Period
Land	2,114,000
Building and Improvements	2,023,000
Total	4,137,000
Accumulated Depreciation and Amortization	$ (23,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Beechnut Manor
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,019,000
Buildings and Improvements	5,734,000
Total	6,753,000
Cost Capitalized Subsequent to Acquisition	128,000
Gross Amount at which Carried at Close of Period
Land	1,019,000
Building and Improvements	5,862,000
Total	6,881,000
Accumulated Depreciation and Amortization	(58,000)
Skilled Nursing/Transitional Care Facilities | Linden Healthcare Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	112,000
Buildings and Improvements	256,000
Total	368,000
Cost Capitalized Subsequent to Acquisition	109,000
Gross Amount at which Carried at Close of Period
Land	112,000
Building and Improvements	365,000
Total	477,000
Accumulated Depreciation and Amortization	(5,000)
Skilled Nursing/Transitional Care Facilities | Sherman Healthcare Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	469,000
Buildings and Improvements	6,310,000
Total	6,779,000
Cost Capitalized Subsequent to Acquisition	124,000
Gross Amount at which Carried at Close of Period
Land	469,000
Building and Improvements	6,434,000
Total	6,903,000
Accumulated Depreciation and Amortization	(62,000)
Skilled Nursing/Transitional Care Facilities | Mount Pleasant Healthcare Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	250,000
Buildings and Improvements	6,913,000
Total	7,163,000
Cost Capitalized Subsequent to Acquisition	90,000
Gross Amount at which Carried at Close of Period
Land	250,000
Building and Improvements	7,003,000
Total	7,253,000
Accumulated Depreciation and Amortization	(67,000)
Skilled Nursing/Transitional Care Facilities | Renfro Healthcare Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	416,000
Buildings and Improvements	7,259,000
Total	7,675,000
Cost Capitalized Subsequent to Acquisition	75,000
Gross Amount at which Carried at Close of Period
Land	416,000
Building and Improvements	7,335,000
Total	7,751,000
Accumulated Depreciation and Amortization	(71,000)
Skilled Nursing/Transitional Care Facilities | Upshur Manor Nursing Home
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	707,000
Buildings and Improvements	4,552,000
Total	5,259,000
Cost Capitalized Subsequent to Acquisition	49,000
Gross Amount at which Carried at Close of Period
Land	707,000
Building and Improvements	4,602,000
Total	5,309,000
Accumulated Depreciation and Amortization	(48,000)
Skilled Nursing/Transitional Care Facilities | Hearthstone of Northern Nevada
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,986,000
Buildings and Improvements	9,004,000
Total	10,990,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,986,000
Building and Improvements	9,004,000
Total	10,990,000
Accumulated Depreciation and Amortization	(90,000)
Skilled Nursing/Transitional Care Facilities | Sunset Hills Healthcare and Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,595,000
Buildings and Improvements	5,822,000
Total	7,417,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,595,000
Building and Improvements	5,822,000
Total	7,417,000
Accumulated Depreciation and Amortization	(87,000)
Skilled Nursing/Transitional Care Facilities | Mountainview Specialty Care Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	549,000
Buildings and Improvements	9,926,000
Total	10,475,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	549,000
Building and Improvements	9,926,000
Total	10,475,000
Accumulated Depreciation and Amortization	(118,000)
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Richmond
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	259,000
Buildings and Improvements	9,819,000
Total	10,078,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	259,000
Building and Improvements	9,819,000
Total	10,078,000
Accumulated Depreciation and Amortization	(94,000)
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Petersburg
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	581,000
Buildings and Improvements	5,367,000
Total	5,948,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	581,000
Building and Improvements	5,367,000
Total	5,948,000
Accumulated Depreciation and Amortization	(55,000)
Skilled Nursing/Transitional Care Facilities | Beverly Health - Ft. Pierce
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	787,000
Buildings and Improvements	16,648,000
Total	17,435,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	787,000
Building and Improvements	16,648,000
Total	17,435,000
Accumulated Depreciation and Amortization	(152,000)
Skilled Nursing/Transitional Care Facilities | Maryville
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	114,000
Buildings and Improvements	5,955,000
Total	6,069,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	114,000
Building and Improvements	5,955,000
Total	6,069,000
Accumulated Depreciation and Amortization	(62,000)
Skilled Nursing/Transitional Care Facilities | Ashland Healthcare
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	765,000
Buildings and Improvements	2,669,000
Total	3,434,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	765,000
Building and Improvements	2,669,000
Total	3,434,000
Accumulated Depreciation and Amortization	(30,000)
Skilled Nursing/Transitional Care Facilities | Bellefontaine Gardens
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	2,071,000
Buildings and Improvements	5,739,000
Total	7,810,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,071,000
Building and Improvements	5,739,000
Total	7,810,000
Accumulated Depreciation and Amortization	(64,000)
Skilled Nursing/Transitional Care Facilities | Current River Nursing Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	657,000
Buildings and Improvements	8,251,000
Total	8,908,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	657,000
Building and Improvements	8,251,000
Total	8,908,000
Accumulated Depreciation and Amortization	(82,000)
Skilled Nursing/Transitional Care Facilities | Dixon Nursing & Rehab
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	521,000
Buildings and Improvements	3,358,000
Total	3,879,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	521,000
Building and Improvements	3,358,000
Total	3,879,000
Accumulated Depreciation and Amortization	(36,000)
Skilled Nursing/Transitional Care Facilities | Forsyth Nursing & Rehab
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	594,000
Buildings and Improvements	8,549,000
Total	9,143,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	594,000
Building and Improvements	8,549,000
Total	9,143,000
Accumulated Depreciation and Amortization	(86,000)
Skilled Nursing/Transitional Care Facilities | Glenwood Healthcare
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	658,000
Buildings and Improvements	901,000
Total	1,559,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	658,000
Building and Improvements	901,000
Total	1,559,000
Accumulated Depreciation and Amortization	(13,000)
Skilled Nursing/Transitional Care Facilities | Silex Community Care
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	807,000
Buildings and Improvements	4,990,000
Total	5,797,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	807,000
Building and Improvements	4,990,000
Total	5,797,000
Accumulated Depreciation and Amortization	(51,000)
Skilled Nursing/Transitional Care Facilities | South Hampton Place
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	2,322,000
Buildings and Improvements	6,547,000
Total	8,869,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,322,000
Building and Improvements	6,547,000
Total	8,869,000
Accumulated Depreciation and Amortization	(68,000)
Skilled Nursing/Transitional Care Facilities | Strafford Care Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,634,000
Buildings and Improvements	6,518,000
Total	8,152,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,634,000
Building and Improvements	6,518,000
Total	8,152,000
Accumulated Depreciation and Amortization	(66,000)
Skilled Nursing/Transitional Care Facilities | Windsor Healthcare & Rehab
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	471,000
Buildings and Improvements	6,819,000
Total	7,290,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	471,000
Building and Improvements	6,819,000
Total	7,290,000
Accumulated Depreciation and Amortization	(63,000)
Skilled Nursing/Transitional Care Facilities | Park Manor of Conroe
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,222,000
Buildings and Improvements	19,099,000
Total	20,321,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,222,000
Building and Improvements	19,099,000
Total	20,321,000
Accumulated Depreciation and Amortization	(171,000)
Skilled Nursing/Transitional Care Facilities | Park Manor of Cypress Station
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,334,000
Buildings and Improvements	11,615,000
Total	12,949,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,334,000
Building and Improvements	11,615,000
Total	12,949,000
Accumulated Depreciation and Amortization	(108,000)
Skilled Nursing/Transitional Care Facilities | Park Manor of Humble
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,541,000
Buildings and Improvements	12,332,000
Total	13,873,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,541,000
Building and Improvements	12,332,000
Total	13,873,000
Accumulated Depreciation and Amortization	(115,000)
Skilled Nursing/Transitional Care Facilities | Park Manor of Quail Valley
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,825,000
Buildings and Improvements	9,681,000
Total	11,506,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,825,000
Building and Improvements	9,681,000
Total	11,506,000
Accumulated Depreciation and Amortization	(94,000)
Skilled Nursing/Transitional Care Facilities | Park Manor of Westchase
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	2,676,000
Buildings and Improvements	7,396,000
Total	10,072,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,676,000
Building and Improvements	7,396,000
Total	10,072,000
Accumulated Depreciation and Amortization	(73,000)
Skilled Nursing/Transitional Care Facilities | Park Manor of CyFair
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,732,000
Buildings and Improvements	12,921,000
Total	14,653,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,732,000
Building and Improvements	12,921,000
Total	14,653,000
Accumulated Depreciation and Amortization	(120,000)
Skilled Nursing/Transitional Care Facilities | Park Manor of McKinney
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,441,000
Buildings and Improvements	9,017,000
Total	10,458,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,441,000
Building and Improvements	9,017,000
Total	10,458,000
Accumulated Depreciation and Amortization	(91,000)
Skilled Nursing/Transitional Care Facilities | Tanglewood Health and Rehabilitation
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	176,000
Buildings and Improvements	2,340,000
Total	2,516,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	176,000
Building and Improvements	2,340,000
Total	2,516,000
Accumulated Depreciation and Amortization	(25,000)
Skilled Nursing/Transitional Care Facilities | Smoky Hill Health and Rehbilitation
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	301,000
Buildings and Improvements	4,201,000
Total	4,502,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	301,000
Building and Improvements	4,201,000
Total	4,502,000
Accumulated Depreciation and Amortization	(43,000)
Skilled Nursing/Transitional Care Facilities | Belleville Health Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	600,000
Buildings and Improvements	1,664,000
Total	2,264,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	600,000
Building and Improvements	1,664,000
Total	2,264,000
Accumulated Depreciation and Amortization	(21,000)
Skilled Nursing/Transitional Care Facilities | Lakeview Manor
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	2,743,000
Buildings and Improvements	6,015,000
Total	8,758,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,743,000
Building and Improvements	6,015,000
Total	8,758,000
Accumulated Depreciation and Amortization	(66,000)
Skilled Nursing/Transitional Care Facilities | Westridge Healthcare Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,067,000
Buildings and Improvements	7,061,000
Total	8,128,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,067,000
Building and Improvements	7,061,000
Total	8,128,000
Accumulated Depreciation and Amortization	(68,000)
Skilled Nursing/Transitional Care Facilities | Chalet Village
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	498,000
Buildings and Improvements	2,421,000
Total	2,919,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	498,000
Building and Improvements	2,421,000
Total	2,919,000
Accumulated Depreciation and Amortization	(27,000)
Skilled Nursing/Transitional Care Facilities | Willow Bend Living Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,168,000
Buildings and Improvements	9,562,000
Total	10,730,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,168,000
Building and Improvements	9,562,000
Total	10,730,000
Accumulated Depreciation and Amortization	(87,000)
Skilled Nursing/Transitional Care Facilities | Twin City Healthcare
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	345,000
Buildings and Improvements	8,852,000
Total	9,197,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	345,000
Building and Improvements	8,852,000
Total	9,197,000
Accumulated Depreciation and Amortization	(81,000)
Skilled Nursing/Transitional Care Facilities | Liberty Village
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,483,000
Buildings and Improvements	4,888,000
Total	6,371,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,483,000
Building and Improvements	4,888,000
Total	6,371,000
Accumulated Depreciation and Amortization	(55,000)
Skilled Nursing/Transitional Care Facilities | Pine Knoll Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	711,000
Buildings and Improvements	5,554,000
Total	6,265,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	711,000
Building and Improvements	5,554,000
Total	6,265,000
Accumulated Depreciation and Amortization	(53,000)
Skilled Nursing/Transitional Care Facilities | Willow Crossing Health & Rehab Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,290,000
Buildings and Improvements	10,714,000
Total	12,004,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,290,000
Building and Improvements	10,714,000
Total	12,004,000
Accumulated Depreciation and Amortization	(98,000)
Skilled Nursing/Transitional Care Facilities | Bridgewater Center for Health & Rehab
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	396,000
Buildings and Improvements	3,439,000
Total	3,835,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	396,000
Building and Improvements	3,439,000
Total	3,835,000
Accumulated Depreciation and Amortization	(35,000)
Skilled Nursing/Transitional Care Facilities | Oakbrook Village
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	589,000
Buildings and Improvements	3,387,000
Total	3,976,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	589,000
Building and Improvements	3,387,000
Total	3,976,000
Accumulated Depreciation and Amortization	(35,000)
Skilled Nursing/Transitional Care Facilities | Persimmon Ridge Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	315,000
Buildings and Improvements	9,848,000
Total	10,163,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	315,000
Building and Improvements	9,848,000
Total	10,163,000
Accumulated Depreciation and Amortization	(92,000)
Skilled Nursing/Transitional Care Facilities | Vermillion Convalescent Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	884,000
Buildings and Improvements	9,839,000
Total	10,723,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	884,000
Building and Improvements	9,839,000
Total	10,723,000
Accumulated Depreciation and Amortization	(96,000)
Skilled Nursing/Transitional Care Facilities | Meadowbrooke Rehab Centre & Suites
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,565,000
Buildings and Improvements	5,126,000
Total	6,691,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,565,000
Building and Improvements	5,126,000
Total	6,691,000
Accumulated Depreciation and Amortization	(52,000)
Skilled Nursing/Transitional Care Facilities | Whispering Pines
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	376,000
Buildings and Improvements	2,898,000
Total	3,274,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	376,000
Building and Improvements	2,898,000
Total	3,274,000
Accumulated Depreciation and Amortization	(32,000)
Skilled Nursing/Transitional Care Facilities | Woodland Hills Care Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	559,000
Buildings and Improvements	2,629,000
Total	3,188,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	559,000
Building and Improvements	2,629,000
Total	3,188,000
Accumulated Depreciation and Amortization	(31,000)
Skilled Nursing/Transitional Care Facilities | Las Vegas Post Acute & Rehabilitation
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	509,000
Buildings and Improvements	18,216,000
Total	18,725,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	509,000
Building and Improvements	18,216,000
Total	18,725,000
Accumulated Depreciation and Amortization	(160,000)
Skilled Nursing/Transitional Care Facilities | Torey Pines Rehabilitation Hospital
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	3,169,000
Buildings and Improvements	7,863,000
Total	11,032,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	3,169,000
Building and Improvements	7,863,000
Total	11,032,000
Accumulated Depreciation and Amortization	(78,000)
Skilled Nursing/Transitional Care Facilities | Villa Campana Rehabiitation Hospital
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,800,000
Buildings and Improvements	4,387,000
Total	6,187,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,800,000
Building and Improvements	4,387,000
Total	6,187,000
Accumulated Depreciation and Amortization	(50,000)
Skilled Nursing/Transitional Care Facilities | Kachina Point Rehabilitation Hospital
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	2,035,000
Buildings and Improvements	10,981,000
Total	13,016,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,035,000
Building and Improvements	10,981,000
Total	13,016,000
Accumulated Depreciation and Amortization	(110,000)
Skilled Nursing/Transitional Care Facilities | Bay View Rehabilitation Hospital
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	3,078,000
Buildings and Improvements	22,328,000
Total	25,406,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	3,078,000
Building and Improvements	22,328,000
Total	25,406,000
Accumulated Depreciation and Amortization	(200,000)
Skilled Nursing/Transitional Care Facilities | Dover Center for Health & Rehabilitation
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	522,000
Buildings and Improvements	5,839,000
Total	6,361,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	522,000
Building and Improvements	5,839,000
Total	6,361,000
Accumulated Depreciation and Amortization	(73,000)
Skilled Nursing/Transitional Care Facilities | Augusta Center for Health & Rehabilitation
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	135,000
Buildings and Improvements	6,470,000
Total	6,605,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	135,000
Building and Improvements	6,470,000
Total	6,605,000
Accumulated Depreciation and Amortization	(63,000)
Skilled Nursing/Transitional Care Facilities | Eastside Center for Health & Rehabilitation
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	302,000
Buildings and Improvements	1,811,000
Total	2,113,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	302,000
Building and Improvements	1,811,000
Total	2,113,000
Accumulated Depreciation and Amortization	(21,000)
Skilled Nursing/Transitional Care Facilities | Winship Green Center for Health & Rehabilitation
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	250,000
Buildings and Improvements	1,934,000
Total	2,184,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	250,000
Building and Improvements	1,934,000
Total	2,184,000
Accumulated Depreciation and Amortization	(21,000)
Skilled Nursing/Transitional Care Facilities | Brewer Center for Health & Rehabilitation
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	177,000
Buildings and Improvements	14,497,000
Total	14,674,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	177,000
Building and Improvements	14,497,000
Total	14,674,000
Accumulated Depreciation and Amortization	(138,000)
Skilled Nursing/Transitional Care Facilities | Kennebunk Center for Health & Rehabilitation
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	198,000
Buildings and Improvements	6,822,000
Total	7,020,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	198,000
Building and Improvements	6,822,000
Total	7,020,000
Accumulated Depreciation and Amortization	(66,000)
Skilled Nursing/Transitional Care Facilities | Norway Center for Health & Rehabilitation
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	791,000
Buildings and Improvements	3,680,000
Total	4,471,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	791,000
Building and Improvements	3,680,000
Total	4,471,000
Accumulated Depreciation and Amortization	(38,000)
Skilled Nursing/Transitional Care Facilities | Brentwood Center for Health & Rehabilitation
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	134,000
Buildings and Improvements	2,072,000
Total	2,206,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	134,000
Building and Improvements	2,072,000
Total	2,206,000
Accumulated Depreciation and Amortization	(23,000)
Skilled Nursing/Transitional Care Facilities | Country Center for Health & Rehabilitation
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	269,000
Buildings and Improvements	4,436,000
Total	4,705,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	269,000
Building and Improvements	4,436,000
Total	4,705,000
Accumulated Depreciation and Amortization	(58,000)
Skilled Nursing/Transitional Care Facilities | Sachem Center for Health & Rehabilitation
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	447,000
Buildings and Improvements	1,357,000
Total	1,804,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	447,000
Building and Improvements	1,357,000
Total	1,804,000
Accumulated Depreciation and Amortization	(22,000)
Skilled Nursing/Transitional Care Facilities | Eliot Center for Health & Rehabilitation
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	475,000
Buildings and Improvements	1,491,000
Total	1,966,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	475,000
Building and Improvements	1,491,000
Total	1,966,000
Accumulated Depreciation and Amortization	(20,000)
Skilled Nursing/Transitional Care Facilities | The Reservoir Center for Health & Rehabilitation
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	942,000
Buildings and Improvements	1,541,000
Total	2,483,000
Cost Capitalized Subsequent to Acquisition	1,152,000
Gross Amount at which Carried at Close of Period
Land	942,000
Building and Improvements	2,693,000
Total	3,635,000
Accumulated Depreciation and Amortization	(23,000)
Skilled Nursing/Transitional Care Facilities | Newton Wellesley Center for Alzheimer's Care
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,186,000
Buildings and Improvements	13,917,000
Total	15,103,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,186,000
Building and Improvements	13,917,000
Total	15,103,000
Accumulated Depreciation and Amortization	(128,000)
Skilled Nursing/Transitional Care Facilities | Colony Center for Health & Rehabilitation
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,727,000
Buildings and Improvements	2,103,000
Total	3,830,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,727,000
Building and Improvements	2,103,000
Total	3,830,000
Accumulated Depreciation and Amortization	(27,000)
Skilled Nursing/Transitional Care Facilities | Westgate Center for Rehab & Alzheimer's Care
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	229,000
Buildings and Improvements	7,171,000
Total	7,400,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	229,000
Building and Improvements	7,171,000
Total	7,400,000
Accumulated Depreciation and Amortization	(72,000)
Skilled Nursing/Transitional Care Facilities | New Orange Hills
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	4,163,000
Buildings and Improvements	14,755,000
Total	18,918,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	4,163,000
Building and Improvements	14,755,000
Total	18,918,000
Accumulated Depreciation and Amortization	(139,000)
Skilled Nursing/Transitional Care Facilities | Millbrook Healthcare & Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	548,000
Buildings and Improvements	5,794,000
Total	6,342,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	548,000
Building and Improvements	5,794,000
Total	6,342,000
Accumulated Depreciation and Amortization	(60,000)
Skilled Nursing/Transitional Care Facilities | Pleasant Valley Health & Rehab
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,118,000
Buildings and Improvements	7,490,000
Total	8,608,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,118,000
Building and Improvements	7,490,000
Total	8,608,000
Accumulated Depreciation and Amortization	(74,000)
Skilled Nursing/Transitional Care Facilities | Regency Healthcare & Rehab Center at Red River
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	279,000
Buildings and Improvements	4,269,000
Total	4,548,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	279,000
Building and Improvements	4,269,000
Total	4,548,000
Accumulated Depreciation and Amortization	(47,000)
Skilled Nursing/Transitional Care Facilities | McKinney Healthcare & Rehab
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,272,000
Buildings and Improvements	6,047,000
Total	7,319,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,272,000
Building and Improvements	6,047,000
Total	7,319,000
Accumulated Depreciation and Amortization	(64,000)
Skilled Nursing/Transitional Care Facilities | Nicholas County Nursing and Rehabilitation
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	10,000
Buildings and Improvements	0
Total	10,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	10,000
Building and Improvements	0
Total	10,000
Accumulated Depreciation and Amortization	0
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Hopkins
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	807,000
Buildings and Improvements	4,668,000
Total	5,475,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	807,000
Building and Improvements	4,668,000
Total	5,475,000
Accumulated Depreciation and Amortization	(56,000)
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Village Gardens
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,299,000
Buildings and Improvements	1,247,000
Total	2,546,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,299,000
Building and Improvements	1,247,000
Total	2,546,000
Accumulated Depreciation and Amortization	(20,000)
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Florence
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	291,000
Buildings and Improvements	3,778,000
Total	4,069,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	291,000
Building and Improvements	3,778,000
Total	4,069,000
Accumulated Depreciation and Amortization	(42,000)
Skilled Nursing/Transitional Care Facilities | Golden Living Center - South Shore
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	166,000
Buildings and Improvements	1,887,000
Total	2,053,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	166,000
Building and Improvements	1,887,000
Total	2,053,000
Accumulated Depreciation and Amortization	(22,000)
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Rochester East
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	645,000
Buildings and Improvements	7,067,000
Total	7,712,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	645,000
Building and Improvements	7,067,000
Total	7,712,000
Accumulated Depreciation and Amortization	(68,000)
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Wisconsin Dells
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,640,000
Buildings and Improvements	1,599,000
Total	3,239,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,640,000
Building and Improvements	1,599,000
Total	3,239,000
Accumulated Depreciation and Amortization	(24,000)
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Sheboygan
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,038,000
Buildings and Improvements	2,839,000
Total	3,877,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,038,000
Building and Improvements	2,839,000
Total	3,877,000
Accumulated Depreciation and Amortization	(36,000)
Skilled Nursing/Transitional Care Facilities | Azalea Gardens of Mobile
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	0
Buildings and Improvements	2,540,000
Total	2,540,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	0
Building and Improvements	2,540,000
Total	2,540,000
Accumulated Depreciation and Amortization	(31,000)
Skilled Nursing/Transitional Care Facilities | Golden Living Center - Hendersonville
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,611,000
Buildings and Improvements	3,503,000
Total	5,114,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,611,000
Building and Improvements	3,503,000
Total	5,114,000
Accumulated Depreciation and Amortization	(41,000)
Skilled Nursing/Transitional Care Facilities | Trisun Care Center Coastal Palms
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	610,000
Buildings and Improvements	11,296,000
Total	11,906,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	610,000
Building and Improvements	11,296,000
Total	11,906,000
Accumulated Depreciation and Amortization	(104,000)
Skilled Nursing/Transitional Care Facilities | Trisun Care Center Westwood
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	366,000
Buildings and Improvements	6,961,000
Total	7,327,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	366,000
Building and Improvements	6,961,000
Total	7,327,000
Accumulated Depreciation and Amortization	(66,000)
Skilled Nursing/Transitional Care Facilities | Trisun Care Center River Ridge
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	792,000
Buildings and Improvements	7,450,000
Total	8,242,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	792,000
Building and Improvements	7,450,000
Total	8,242,000
Accumulated Depreciation and Amortization	(73,000)
Skilled Nursing/Transitional Care Facilities | Trisun Care Center - Northeast El Paso
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,331,000
Buildings and Improvements	10,117,000
Total	11,448,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,331,000
Building and Improvements	10,117,000
Total	11,448,000
Accumulated Depreciation and Amortization	(110,000)
Skilled Nursing/Transitional Care Facilities | Lakeside Care Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,280,000
Buildings and Improvements	11,705,000
Total	12,985,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,280,000
Building and Improvements	11,705,000
Total	12,985,000
Accumulated Depreciation and Amortization	(122,000)
Skilled Nursing/Transitional Care Facilities | Riverside Nursing & Rehab Center
Initial Cost to Company
Land	1,626,000
Buildings and Improvements	4,659,000
Total	6,285,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,626,000
Building and Improvements	4,659,000
Total	6,285,000
Accumulated Depreciation and Amortization	(48,000)
Skilled Nursing/Transitional Care Facilities | Senior Care of West Oaks
Initial Cost to Company
Land	2,743,000
Buildings and Improvements	11,189,000
Total	13,932,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,743,000
Building and Improvements	11,189,000
Total	13,932,000
Accumulated Depreciation and Amortization	(108,000)
Skilled Nursing/Transitional Care Facilities | Baytown Nursing & Rehab Center
Initial Cost to Company
Land	579,000
Buildings and Improvements	22,317,000
Total	22,896,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	579,000
Building and Improvements	22,317,000
Total	22,896,000
Accumulated Depreciation and Amortization	(201,000)
Skilled Nursing/Transitional Care Facilities | Cedar Bayou Nursing & Rehab Center
Initial Cost to Company
Land	589,000
Buildings and Improvements	20,475,000
Total	21,064,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	589,000
Building and Improvements	20,475,000
Total	21,064,000
Accumulated Depreciation and Amortization	(191,000)
Skilled Nursing/Transitional Care Facilities | Mystic Park Nursing & Rehab Center
Initial Cost to Company
Land	721,000
Buildings and Improvements	7,979,000
Total	8,700,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	721,000
Building and Improvements	7,979,000
Total	8,700,000
Accumulated Depreciation and Amortization	(79,000)
Skilled Nursing/Transitional Care Facilities | Paramount Senior Care Centers at San Antonio
Initial Cost to Company
Land	914,000
Buildings and Improvements	12,823,000
Total	13,737,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	914,000
Building and Improvements	12,823,000
Total	13,737,000
Accumulated Depreciation and Amortization	(123,000)
Skilled Nursing/Transitional Care Facilities | Senior Care of Westwood
Initial Cost to Company
Land	1,300,000
Buildings and Improvements	13,353,000
Total	14,653,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,300,000
Building and Improvements	13,353,000
Total	14,653,000
Accumulated Depreciation and Amortization	(129,000)
Skilled Nursing/Transitional Care Facilities | Paramounty Senior Care Centers at Pasadena
Initial Cost to Company
Land	1,148,000
Buildings and Improvements	23,579,000
Total	24,727,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,148,000
Building and Improvements	23,579,000
Total	24,727,000
Accumulated Depreciation and Amortization	(216,000)
Skilled Nursing/Transitional Care Facilities | The Pointe Nursing & Rehab Center
Initial Cost to Company
Land	904,000
Buildings and Improvements	10,315,000
Total	11,219,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	904,000
Building and Improvements	10,315,000
Total	11,219,000
Accumulated Depreciation and Amortization	(102,000)
Skilled Nursing/Transitional Care Facilities | Brodie Ranch Nursing & Rehab Center
Initial Cost to Company
Land	610,000
Buildings and Improvements	8,549,000
Total	9,159,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	610,000
Building and Improvements	8,549,000
Total	9,159,000
Accumulated Depreciation and Amortization	(81,000)
Skilled Nursing/Transitional Care Facilities | Bandera Nursing & Rehab Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	691,000
Buildings and Improvements	4,987,000
Total	5,678,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	691,000
Building and Improvements	4,987,000
Total	5,678,000
Accumulated Depreciation and Amortization	(53,000)
Skilled Nursing/Transitional Care Facilities | West Oaks Nursing & Rehab Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,168,000
Buildings and Improvements	11,195,000
Total	12,363,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,168,000
Building and Improvements	11,195,000
Total	12,363,000
Accumulated Depreciation and Amortization	(110,000)
Skilled Nursing/Transitional Care Facilities | Pilgrim Manor
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	772,000
Buildings and Improvements	23,497,000
Total	24,269,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	772,000
Building and Improvements	23,497,000
Total	24,269,000
Accumulated Depreciation and Amortization	(230,000)
Skilled Nursing/Transitional Care Facilities | Spring Lake Campus
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	975,000
Buildings and Improvements	30,437,000
Total	31,412,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	975,000
Building and Improvements	30,437,000
Total	31,412,000
Accumulated Depreciation and Amortization	(297,000)
Skilled Nursing/Transitional Care Facilities | The Bradford
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,402,000
Buildings and Improvements	21,494,000
Total	22,896,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,402,000
Building and Improvements	21,494,000
Total	22,896,000
Accumulated Depreciation and Amortization	(216,000)
Skilled Nursing/Transitional Care Facilities | The Guest House
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,067,000
Buildings and Improvements	21,983,000
Total	23,050,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,067,000
Building and Improvements	21,983,000
Total	23,050,000
Accumulated Depreciation and Amortization	(224,000)
Skilled Nursing/Transitional Care Facilities | Alpine
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	691,000
Buildings and Improvements	22,205,000
Total	22,896,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	691,000
Building and Improvements	22,205,000
Total	22,896,000
Accumulated Depreciation and Amortization	(220,000)
Skilled Nursing/Transitional Care Facilities | Colonial Oaks
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	498,000
Buildings and Improvements	13,240,000
Total	13,738,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	498,000
Building and Improvements	13,240,000
Total	13,738,000
Accumulated Depreciation and Amortization	(135,000)
Skilled Nursing/Transitional Care Facilities | Shreveport Manor
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	457,000
Buildings and Improvements	14,125,000
Total	14,582,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	457,000
Building and Improvements	14,125,000
Total	14,582,000
Accumulated Depreciation and Amortization	(141,000)
Skilled Nursing/Transitional Care Facilities | Booker T. Washington
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	864,000
Buildings and Improvements	9,286,000
Total	10,150,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	864,000
Building and Improvements	9,286,000
Total	10,150,000
Accumulated Depreciation and Amortization	(95,000)
Skilled Nursing/Transitional Care Facilities | Hill Country Care
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,107,000
Buildings and Improvements	5,402,000
Total	6,509,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,107,000
Building and Improvements	5,402,000
Total	6,509,000
Accumulated Depreciation and Amortization	(53,000)
Skilled Nursing/Transitional Care Facilities | Pecan Tree Rehab & Healthcare
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	315,000
Buildings and Improvements	9,759,000
Total	10,074,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	315,000
Building and Improvements	9,759,000
Total	10,074,000
Accumulated Depreciation and Amortization	(91,000)
Skilled Nursing/Transitional Care Facilities | Senior Care of Jacksonville
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	569,000
Buildings and Improvements	6,300,000
Total	6,869,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	569,000
Building and Improvements	6,300,000
Total	6,869,000
Accumulated Depreciation and Amortization	(63,000)
Skilled Nursing/Transitional Care Facilities | Senior Care of San Angelo
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,565,000
Buildings and Improvements	12,936,000
Total	14,501,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,565,000
Building and Improvements	12,936,000
Total	14,501,000
Accumulated Depreciation and Amortization	(120,000)
Skilled Nursing/Transitional Care Facilities | Senior Care of Midland
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	528,000
Buildings and Improvements	2,311,000
Total	2,839,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	528,000
Building and Improvements	2,311,000
Total	2,839,000
Accumulated Depreciation and Amortization	(26,000)
Skilled Nursing/Transitional Care Facilities | Summer Place Nursing and Rehab
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	945,000
Buildings and Improvements	20,424,000
Total	21,369,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	945,000
Building and Improvements	20,424,000
Total	21,369,000
Accumulated Depreciation and Amortization	(185,000)
Skilled Nursing/Transitional Care Facilities | The Meadows Nursing and Rehab
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	711,000
Buildings and Improvements	10,737,000
Total	11,448,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	711,000
Building and Improvements	10,737,000
Total	11,448,000
Accumulated Depreciation and Amortization	(102,000)
Skilled Nursing/Transitional Care Facilities | Heritage Oaks West Retirement Village
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	823,000
Buildings and Improvements	4,214,000
Total	5,037,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	823,000
Building and Improvements	4,214,000
Total	5,037,000
Accumulated Depreciation and Amortization	(46,000)
Skilled Nursing/Transitional Care Facilities | Cypress Glen
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,209,000
Buildings and Improvements	13,444,000
Total	14,653,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,209,000
Building and Improvements	13,444,000
Total	14,653,000
Accumulated Depreciation and Amortization	(130,000)
Skilled Nursing/Transitional Care Facilities | Lake Arthur
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	396,000
Buildings and Improvements	7,846,000
Total	8,242,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	396,000
Building and Improvements	7,846,000
Total	8,242,000
Accumulated Depreciation and Amortization	(75,000)
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Whitesburg Gardens
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	634,000
Buildings and Improvements	28,071,000
Total	28,705,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	634,000
Building and Improvements	28,071,000
Total	28,705,000
Accumulated Depreciation and Amortization	(248,000)
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Terre Haute
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	644,000
Buildings and Improvements	37,451,000
Total	38,095,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	644,000
Building and Improvements	37,451,000
Total	38,095,000
Accumulated Depreciation and Amortization	(372,000)
Skilled Nursing/Transitional Care Facilities | Signature Healthcare at Larkin Springs
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	902,000
Buildings and Improvements	3,850,000
Total	4,752,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	902,000
Building and Improvements	3,850,000
Total	4,752,000
Accumulated Depreciation and Amortization	(46,000)
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Savannah
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,235,000
Buildings and Improvements	3,765,000
Total	5,000,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,235,000
Building and Improvements	3,765,000
Total	5,000,000
Accumulated Depreciation and Amortization	(48,000)
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Bluffton
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	254,000
Buildings and Improvements	5,105,000
Total	5,359,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	254,000
Building and Improvements	5,105,000
Total	5,359,000
Accumulated Depreciation and Amortization	(55,000)
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Bowling Green
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	280,000
Buildings and Improvements	13,975,000
Total	14,255,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	280,000
Building and Improvements	13,975,000
Total	14,255,000
Accumulated Depreciation and Amortization	(136,000)
Skilled Nursing/Transitional Care Facilities | Oakview Nursing and Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,176,000
Buildings and Improvements	7,012,000
Total	8,188,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,176,000
Building and Improvements	7,012,000
Total	8,188,000
Accumulated Depreciation and Amortization	(73,000)
Skilled Nursing/Transitional Care Facilities | Fountain Circle Care and Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	554,000
Buildings and Improvements	13,207,000
Total	13,761,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	554,000
Building and Improvements	13,207,000
Total	13,761,000
Accumulated Depreciation and Amortization	(132,000)
Skilled Nursing/Transitional Care Facilities | Riverside Care & Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	613,000
Buildings and Improvements	7,643,000
Total	8,256,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	613,000
Building and Improvements	7,643,000
Total	8,256,000
Accumulated Depreciation and Amortization	(81,000)
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Bremen
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	173,000
Buildings and Improvements	7,393,000
Total	7,566,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	173,000
Building and Improvements	7,393,000
Total	7,566,000
Accumulated Depreciation and Amortization	(72,000)
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Muncie
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	374,000
Buildings and Improvements	27,429,000
Total	27,803,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	374,000
Building and Improvements	27,429,000
Total	27,803,000
Accumulated Depreciation and Amortization	(248,000)
Skilled Nursing/Transitional Care Facilities | Signature Healthcare at Parkwood
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	612,000
Buildings and Improvements	11,755,000
Total	12,367,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	612,000
Building and Improvements	11,755,000
Total	12,367,000
Accumulated Depreciation and Amortization	(112,000)
Skilled Nursing/Transitional Care Facilities | Signature Healthcare at Tower Road
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	364,000
Buildings and Improvements	16,116,000
Total	16,480,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	364,000
Building and Improvements	16,116,000
Total	16,480,000
Accumulated Depreciation and Amortization	(158,000)
Skilled Nursing/Transitional Care Facilities | Danville Centre for Health and Rehabilitation
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	790,000
Buildings and Improvements	9,356,000
Total	10,146,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	790,000
Building and Improvements	9,356,000
Total	10,146,000
Accumulated Depreciation and Amortization	(108,000)
Skilled Nursing/Transitional Care Facilities | Signature Healthcare at Hillcrest
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,048,000
Buildings and Improvements	22,587,000
Total	23,635,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,048,000
Building and Improvements	22,587,000
Total	23,635,000
Accumulated Depreciation and Amortization	(212,000)
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Elizabethtown
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	239,000
Buildings and Improvements	4,853,000
Total	5,092,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	239,000
Building and Improvements	4,853,000
Total	5,092,000
Accumulated Depreciation and Amortization	(51,000)
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Primacy
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,633,000
Buildings and Improvements	9,371,000
Total	11,004,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,633,000
Building and Improvements	9,371,000
Total	11,004,000
Accumulated Depreciation and Amortization	(96,000)
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Harbour Pointe
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	705,000
Buildings and Improvements	16,451,000
Total	17,156,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	705,000
Building and Improvements	16,451,000
Total	17,156,000
Accumulated Depreciation and Amortization	(175,000)
Skilled Nursing/Transitional Care Facilities | Harrodsburg Health & Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,049,000
Buildings and Improvements	9,851,000
Total	10,900,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,049,000
Building and Improvements	9,851,000
Total	10,900,000
Accumulated Depreciation and Amortization	(108,000)
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Putnam County
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	1,034,000
Buildings and Improvements	15,555,000
Total	16,589,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,034,000
Building and Improvements	15,555,000
Total	16,589,000
Accumulated Depreciation and Amortization	(149,000)
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Fayette County
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	405,000
Buildings and Improvements	4,839,000
Total	5,244,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	405,000
Building and Improvements	4,839,000
Total	5,244,000
Accumulated Depreciation and Amortization	$ (55,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Warren
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	955,000
Buildings and Improvements	5,260,000
Total	6,215,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	955,000
Building and Improvements	5,260,000
Total	6,215,000
Accumulated Depreciation and Amortization	$ (70,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Galion
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	836,000
Buildings and Improvements	668,000
Total	1,504,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	836,000
Building and Improvements	668,000
Total	1,504,000
Accumulated Depreciation and Amortization	$ (12,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Roanoke Rapids
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	373,000
Buildings and Improvements	10,308,000
Total	10,681,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	373,000
Building and Improvements	10,308,000
Total	10,681,000
Accumulated Depreciation and Amortization	$ (109,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Kinston
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	954,000
Buildings and Improvements	7,987,000
Total	8,941,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	954,000
Building and Improvements	7,987,000
Total	8,941,000
Accumulated Depreciation and Amortization	$ (95,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Gastonia Care and Rehabilitation
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	173,000
Buildings and Improvements	5,993,000
Total	6,166,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	173,000
Building and Improvements	5,993,000
Total	6,166,000
Accumulated Depreciation and Amortization	$ (70,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Chapel Hill
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	809,000
Buildings and Improvements	2,703,000
Total	3,512,000
Cost Capitalized Subsequent to Acquisition	302,000
Gross Amount at which Carried at Close of Period
Land	809,000
Building and Improvements	3,004,000
Total	3,813,000
Accumulated Depreciation and Amortization	$ (41,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Chillicothe
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	260,000
Buildings and Improvements	8,924,000
Total	9,184,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	260,000
Building and Improvements	8,924,000
Total	9,184,000
Accumulated Depreciation and Amortization	$ (97,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Signature Healthcare of Coshocton
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	374,000
Buildings and Improvements	2,530,000
Total	2,904,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	374,000
Building and Improvements	2,530,000
Total	2,904,000
Accumulated Depreciation and Amortization	$ (37,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Balanced Care Bloomsburg
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,473,000
Buildings and Improvements	5,842,000
Total	7,315,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,473,000
Building and Improvements	5,842,000
Total	7,315,000
Accumulated Depreciation and Amortization	$ (67,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | McCreary Health & Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	208,000
Buildings and Improvements	7,665,000
Total	7,873,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	208,000
Building and Improvements	7,665,000
Total	7,873,000
Accumulated Depreciation and Amortization	$ (76,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Colonial Health & Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	634,000
Buildings and Improvements	4,094,000
Total	4,728,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	634,000
Building and Improvements	4,094,000
Total	4,728,000
Accumulated Depreciation and Amortization	$ (47,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Glasgow Health & Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	83,000
Buildings and Improvements	2,057,000
Total	2,140,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	83,000
Building and Improvements	2,057,000
Total	2,140,000
Accumulated Depreciation and Amortization	$ (29,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Green Valley Health & Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	124,000
Buildings and Improvements	1,693,000
Total	1,817,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	124,000
Building and Improvements	1,693,000
Total	1,817,000
Accumulated Depreciation and Amortization	$ (25,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Hart County Health & Rehabilitation
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	208,000
Buildings and Improvements	7,070,000
Total	7,278,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	208,000
Building and Improvements	7,070,000
Total	7,278,000
Accumulated Depreciation and Amortization	$ (77,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Heritage Hall Health & Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	635,000
Buildings and Improvements	9,861,000
Total	10,496,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	635,000
Building and Improvements	9,861,000
Total	10,496,000
Accumulated Depreciation and Amortization	$ (99,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Jackson Manor
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	479,000
Buildings and Improvements	6,078,000
Total	6,557,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	479,000
Building and Improvements	6,078,000
Total	6,557,000
Accumulated Depreciation and Amortization	$ (60,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Jefferson Manor
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,528,000
Buildings and Improvements	4,653,000
Total	8,181,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	3,528,000
Building and Improvements	4,653,000
Total	8,181,000
Accumulated Depreciation and Amortization	$ (57,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Jefferson Place
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,207,000
Buildings and Improvements	20,733,000
Total	22,940,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,207,000
Building and Improvements	20,733,000
Total	22,940,000
Accumulated Depreciation and Amortization	$ (193,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Monroe Health & Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	333,000
Buildings and Improvements	9,556,000
Total	9,889,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	333,000
Building and Improvements	9,556,000
Total	9,889,000
Accumulated Depreciation and Amortization	$ (95,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | North Hardin Health & Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,815,000
Buildings and Improvements	7,470,000
Total	9,285,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,815,000
Building and Improvements	7,470,000
Total	9,285,000
Accumulated Depreciation and Amortization	$ (94,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Professional Care Health & Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	312,000
Buildings and Improvements	8,189,000
Total	8,501,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	312,000
Building and Improvements	8,189,000
Total	8,501,000
Accumulated Depreciation and Amortization	$ (83,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Rockford Health & Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	427,000
Buildings and Improvements	6,003,000
Total	6,430,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	427,000
Building and Improvements	6,003,000
Total	6,430,000
Accumulated Depreciation and Amortization	$ (65,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Summerfield Health & Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,134,000
Buildings and Improvements	9,166,000
Total	10,300,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,134,000
Building and Improvements	9,166,000
Total	10,300,000
Accumulated Depreciation and Amortization	$ (102,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Tanbark Senior Living
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,558,000
Buildings and Improvements	4,311,000
Total	6,869,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,558,000
Building and Improvements	4,311,000
Total	6,869,000
Accumulated Depreciation and Amortization	$ (52,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Summit Manor Health & Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	114,000
Buildings and Improvements	11,141,000
Total	11,255,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	114,000
Building and Improvements	11,141,000
Total	11,255,000
Accumulated Depreciation and Amortization	$ (108,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Meadowview Health & Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	390,000
Buildings and Improvements	2,410,000
Total	2,800,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	390,000
Building and Improvements	2,410,000
Total	2,800,000
Accumulated Depreciation and Amortization	$ (21,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Belle View Estates Rehabilitation and Care Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	206,000
Buildings and Improvements	3,179,000
Total	3,385,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	206,000
Building and Improvements	3,179,000
Total	3,385,000
Accumulated Depreciation and Amortization	$ (37,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | River Chase Rehabilitation and Care Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	508,000
Buildings and Improvements	0
Total	508,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	508,000
Building and Improvements	0
Total	508,000
Accumulated Depreciation and Amortization	$ 0
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Heartland Rehabilitation and Care Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,336,000
Buildings and Improvements	7,386,000
Total	8,722,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,336,000
Building and Improvements	7,386,000
Total	8,722,000
Accumulated Depreciation and Amortization	$ (79,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | River Ridge Rehabilitation and Care Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	227,000
Buildings and Improvements	4,007,000
Total	4,234,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	227,000
Building and Improvements	4,007,000
Total	4,234,000
Accumulated Depreciation and Amortization	$ (43,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Brookridge Cove Rehabilitation and Care Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	412,000
Buildings and Improvements	2,642,000
Total	3,054,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	412,000
Building and Improvements	2,642,000
Total	3,054,000
Accumulated Depreciation and Amortization	$ (35,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Southern Trace Rehabilitation and Care Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	819,000
Buildings and Improvements	8,938,000
Total	9,757,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	819,000
Building and Improvements	8,938,000
Total	9,757,000
Accumulated Depreciation and Amortization	$ (85,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Lake Village Rehabilitation and Care Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	507,000
Buildings and Improvements	4,838,000
Total	5,345,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	507,000
Building and Improvements	4,838,000
Total	5,345,000
Accumulated Depreciation and Amortization	$ (53,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Savannah Specialty Care Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,194,000
Buildings and Improvements	11,711,000
Total	13,905,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,194,000
Building and Improvements	11,711,000
Total	13,905,000
Accumulated Depreciation and Amortization	$ (109,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Pettigrew Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	470,000
Buildings and Improvements	9,633,000
Total	10,103,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	470,000
Building and Improvements	9,633,000
Total	10,103,000
Accumulated Depreciation and Amortization	$ (89,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Sunnybrook Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,155,000
Buildings and Improvements	11,749,000
Total	12,904,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,155,000
Building and Improvements	11,749,000
Total	12,904,000
Accumulated Depreciation and Amortization	$ (111,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Raleigh Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	926,000
Buildings and Improvements	17,649,000
Total	18,575,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	926,000
Building and Improvements	17,649,000
Total	18,575,000
Accumulated Depreciation and Amortization	$ (164,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Cypress Pointe Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	611,000
Buildings and Improvements	5,051,000
Total	5,662,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	611,000
Building and Improvements	5,051,000
Total	5,662,000
Accumulated Depreciation and Amortization	$ (53,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Silas Creek Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	879,000
Buildings and Improvements	3,283,000
Total	4,162,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	879,000
Building and Improvements	3,283,000
Total	4,162,000
Accumulated Depreciation and Amortization	$ (40,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Lincolnton Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	0
Buildings and Improvements	9,967,000
Total	9,967,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	0
Building and Improvements	9,967,000
Total	9,967,000
Accumulated Depreciation and Amortization	$ (95,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Rehabilitation and Nursing Center of Monroe
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	166,000
Buildings and Improvements	5,906,000
Total	6,072,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	166,000
Building and Improvements	5,906,000
Total	6,072,000
Accumulated Depreciation and Amortization	$ (63,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Guardian Care of Zebulon
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	594,000
Buildings and Improvements	8,559,000
Total	9,153,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	594,000
Building and Improvements	8,559,000
Total	9,153,000
Accumulated Depreciation and Amortization	$ (78,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Guardian Care of Rocky Mount
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	0
Buildings and Improvements	18,314,000
Total	18,314,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	0
Building and Improvements	18,314,000
Total	18,314,000
Accumulated Depreciation and Amortization	$ (164,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | San Pedro Manor
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	671,000
Buildings and Improvements	2,504,000
Total	3,175,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	671,000
Building and Improvements	2,504,000
Total	3,175,000
Accumulated Depreciation and Amortization	$ (30,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Park Manor Health Care & Rehabilitation
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	942,000
Buildings and Improvements	6,033,000
Total	6,975,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	942,000
Building and Improvements	6,033,000
Total	6,975,000
Accumulated Depreciation and Amortization	$ (63,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avalon Place - Trinity
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	363,000
Buildings and Improvements	3,852,000
Total	4,215,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	363,000
Building and Improvements	3,852,000
Total	4,215,000
Accumulated Depreciation and Amortization	$ (43,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avalon Place - Wharton
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	249,000
Buildings and Improvements	3,245,000
Total	3,494,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	249,000
Building and Improvements	3,245,000
Total	3,494,000
Accumulated Depreciation and Amortization	$ (37,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Avalon Place - Kirbyville
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	208,000
Buildings and Improvements	5,809,000
Total	6,017,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	208,000
Building and Improvements	5,809,000
Total	6,017,000
Accumulated Depreciation and Amortization	$ (62,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Heritage House of Marshall
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	732,000
Buildings and Improvements	4,288,000
Total	5,020,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	732,000
Building and Improvements	4,288,000
Total	5,020,000
Accumulated Depreciation and Amortization	$ (47,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Park Place Health Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	310,000
Buildings and Improvements	1,190,000
Total	1,500,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	310,000
Building and Improvements	1,190,000
Total	1,500,000
Accumulated Depreciation and Amortization	$ (14,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Spectrum Healthcare Torrington
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	250,000
Buildings and Improvements	0
Total	250,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	250,000
Building and Improvements	0
Total	250,000
Accumulated Depreciation and Amortization	$ 0
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Autumn Woods Residential Health Care Facility
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,052,000
Buildings and Improvements	25,539,000
Total	27,591,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,052,000
Building and Improvements	25,539,000
Total	27,591,000
Accumulated Depreciation and Amortization	$ (264,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Autumn View Health Care Facility
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,026,000
Buildings and Improvements	54,086,000
Total	55,112,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,026,000
Building and Improvements	54,086,000
Total	55,112,000
Accumulated Depreciation and Amortization	$ (488,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Brookhaven Health Care Facility
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,181,000
Buildings and Improvements	30,373,000
Total	32,554,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,181,000
Building and Improvements	30,373,000
Total	32,554,000
Accumulated Depreciation and Amortization	$ (288,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Harris Hill Nursing Facility
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,122,000
Buildings and Improvements	46,413,000
Total	47,535,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,122,000
Building and Improvements	46,413,000
Total	47,535,000
Accumulated Depreciation and Amortization	$ (411,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Garden Gate Health Care Facility
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,164,000
Buildings and Improvements	29,905,000
Total	31,069,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,164,000
Building and Improvements	29,905,000
Total	31,069,000
Accumulated Depreciation and Amortization	$ (281,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Northgate Health Care Facility
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	830,000
Buildings and Improvements	29,488,000
Total	30,318,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	830,000
Building and Improvements	29,488,000
Total	30,318,000
Accumulated Depreciation and Amortization	$ (277,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Seneca Health Care Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,325,000
Buildings and Improvements	26,839,000
Total	28,164,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,325,000
Building and Improvements	26,839,000
Total	28,164,000
Accumulated Depreciation and Amortization	$ (247,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Blueberry Hill Rehab and Healthcare Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,410,000
Buildings and Improvements	13,588,000
Total	15,998,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,410,000
Building and Improvements	13,588,000
Total	15,998,000
Accumulated Depreciation and Amortization	$ (168,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | River Terrace Rehabilitation and Healthcare Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	343,000
Buildings and Improvements	7,733,000
Total	8,076,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	343,000
Building and Improvements	7,733,000
Total	8,076,000
Accumulated Depreciation and Amortization	$ (74,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | The Crossings West Campus
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	356,000
Buildings and Improvements	152,000
Total	508,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	356,000
Building and Improvements	152,000
Total	508,000
Accumulated Depreciation and Amortization	$ (3,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | The Crossings East Campus
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	505,000
Buildings and Improvements	2,248,000
Total	2,753,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	505,000
Building and Improvements	2,248,000
Total	2,753,000
Accumulated Depreciation and Amortization	$ (37,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Parkway Pavilion Healthcare
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	437,000
Buildings and Improvements	16,461,000
Total	16,898,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	437,000
Building and Improvements	16,461,000
Total	16,898,000
Accumulated Depreciation and Amortization	$ (161,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Quincy Health & Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	894,000
Buildings and Improvements	904,000
Total	1,798,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	894,000
Building and Improvements	904,000
Total	1,798,000
Accumulated Depreciation and Amortization	$ (16,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Den-Mar Health & Rebilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	0
Buildings and Improvements	1,765,000
Total	1,765,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	0
Building and Improvements	1,765,000
Total	1,765,000
Accumulated Depreciation and Amortization	$ (22,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Walden Health & Rehabilitation Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	549,000
Buildings and Improvements	1,737,000
Total	2,286,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	549,000
Building and Improvements	1,737,000
Total	2,286,000
Accumulated Depreciation and Amortization	$ (23,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Firesteel Healthcare Community
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	621,000
Buildings and Improvements	14,059,000
Total	14,680,000
Cost Capitalized Subsequent to Acquisition	8,636,000
Gross Amount at which Carried at Close of Period
Land	621,000
Building and Improvements	22,695,000
Total	23,316,000
Accumulated Depreciation and Amortization	$ (324,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Fountain Springs Healthcare Community
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,134,000
Buildings and Improvements	13,109,000
Total	14,243,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,134,000
Building and Improvements	13,109,000
Total	14,243,000
Accumulated Depreciation and Amortization	$ (122,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Palisade Healthcare Community
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	362,000
Buildings and Improvements	2,548,000
Total	2,910,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	362,000
Building and Improvements	2,548,000
Total	2,910,000
Accumulated Depreciation and Amortization	$ (31,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Shepherd of the Valley Healthcare Community
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	803,000
Buildings and Improvements	19,210,000
Total	20,013,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	803,000
Building and Improvements	19,210,000
Total	20,013,000
Accumulated Depreciation and Amortization	$ (186,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Wheatcrest Hills Healthcare Community
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	679,000
Buildings and Improvements	3,216,000
Total	3,895,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	679,000
Building and Improvements	3,216,000
Total	3,895,000
Accumulated Depreciation and Amortization	$ (37,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Riverview Healthcare Community & Independent Living
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	240,000
Buildings and Improvements	6,327,000
Total	6,567,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	240,000
Building and Improvements	6,327,000
Total	6,567,000
Accumulated Depreciation and Amortization	$ (63,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Prairie View Healthcare Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	383,000
Buildings and Improvements	2,041,000
Total	2,424,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	383,000
Building and Improvements	2,041,000
Total	2,424,000
Accumulated Depreciation and Amortization	$ (24,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Wingate at Dutchess (Fishkill)
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	964,000
Buildings and Improvements	30,107,000
Total	31,071,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	964,000
Building and Improvements	30,107,000
Total	31,071,000
Accumulated Depreciation and Amortization	$ (283,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Wingate at Ulster (Highland)
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	4,371,000
Buildings and Improvements	11,473,000
Total	15,844,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	4,371,000
Building and Improvements	11,473,000
Total	15,844,000
Accumulated Depreciation and Amortization	$ (116,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Wingate at Beacon
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	0
Buildings and Improvements	25,400,000
Total	25,400,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	0
Building and Improvements	25,400,000
Total	25,400,000
Accumulated Depreciation and Amortization	$ (251,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Wingate at Springfield
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	817,000
Buildings and Improvements	11,357,000
Total	12,174,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	817,000
Building and Improvements	11,357,000
Total	12,174,000
Accumulated Depreciation and Amortization	$ (109,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Wingate at Andover
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,123,000
Buildings and Improvements	5,383,000
Total	7,506,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,123,000
Building and Improvements	5,383,000
Total	7,506,000
Accumulated Depreciation and Amortization	$ (59,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Wingate at Reading
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,534,000
Buildings and Improvements	5,221,000
Total	6,755,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,534,000
Building and Improvements	5,221,000
Total	6,755,000
Accumulated Depreciation and Amortization	$ (59,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Wingate at Sudbury
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,017,000
Buildings and Improvements	3,458,000
Total	5,475,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,017,000
Building and Improvements	3,458,000
Total	5,475,000
Accumulated Depreciation and Amortization	$ (45,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Wingate at Belvidere (Lowell)
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,335,000
Buildings and Improvements	9,019,000
Total	10,354,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,335,000
Building and Improvements	9,019,000
Total	10,354,000
Accumulated Depreciation and Amortization	$ (93,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Wingate at Worcester
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	945,000
Buildings and Improvements	8,770,000
Total	9,715,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	945,000
Building and Improvements	8,770,000
Total	9,715,000
Accumulated Depreciation and Amortization	$ (89,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Wingate at West Springfield
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,022,000
Buildings and Improvements	7,345,000
Total	9,367,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,022,000
Building and Improvements	7,345,000
Total	9,367,000
Accumulated Depreciation and Amortization	$ (82,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Wingate at East Longmeadow
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,968,000
Buildings and Improvements	8,957,000
Total	11,925,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,968,000
Building and Improvements	8,957,000
Total	11,925,000
Accumulated Depreciation and Amortization	$ (101,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Broadway by the Sea
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,939,000
Buildings and Improvements	11,782,000
Total	14,721,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,939,000
Building and Improvements	11,782,000
Total	14,721,000
Accumulated Depreciation and Amortization	$ (90,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Coventry Court Health Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,044,000
Buildings and Improvements	14,167,000
Total	16,211,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,044,000
Building and Improvements	14,167,000
Total	16,211,000
Accumulated Depreciation and Amortization	$ (106,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Fairfield Post-Acute Rehab
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	586,000
Buildings and Improvements	23,582,000
Total	24,168,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	586,000
Building and Improvements	23,582,000
Total	24,168,000
Accumulated Depreciation and Amortization	$ (164,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Garden View Post-Acute Rehab
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,270,000
Buildings and Improvements	17,063,000
Total	19,333,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,270,000
Building and Improvements	17,063,000
Total	19,333,000
Accumulated Depreciation and Amortization	$ (125,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Grand Terrace Health Care Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	432,000
Buildings and Improvements	9,382,000
Total	9,814,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	432,000
Building and Improvements	9,382,000
Total	9,814,000
Accumulated Depreciation and Amortization	$ (69,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Pacifica Nursing & Rehab Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,510,000
Buildings and Improvements	27,397,000
Total	28,907,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,510,000
Building and Improvements	27,397,000
Total	28,907,000
Accumulated Depreciation and Amortization	$ (188,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Burien Nursing & Rehab Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	823,000
Buildings and Improvements	17,431,000
Total	18,254,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	823,000
Building and Improvements	17,431,000
Total	18,254,000
Accumulated Depreciation and Amortization	$ (126,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Park West Care Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	4,802,000
Buildings and Improvements	7,927,000
Total	12,729,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	4,802,000
Building and Improvements	7,927,000
Total	12,729,000
Accumulated Depreciation and Amortization	$ (64,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Beachside Nursing Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,312,000
Buildings and Improvements	9,885,000
Total	12,197,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,312,000
Building and Improvements	9,885,000
Total	12,197,000
Accumulated Depreciation and Amortization	$ (73,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Chatsworth Park Health Care
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	7,841,000
Buildings and Improvements	16,916,000
Total	24,757,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	7,841,000
Building and Improvements	16,916,000
Total	24,757,000
Accumulated Depreciation and Amortization	$ (130,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Cottonwood Post-Acute Rehab
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	504,000
Buildings and Improvements	7,369,000
Total	7,873,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	504,000
Building and Improvements	7,369,000
Total	7,873,000
Accumulated Depreciation and Amortization	$ (57,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Danville Post-Acute Rehab
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,491,000
Buildings and Improvements	17,157,000
Total	18,648,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,491,000
Building and Improvements	17,157,000
Total	18,648,000
Accumulated Depreciation and Amortization	$ (123,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Lake Balboa Care Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,456,000
Buildings and Improvements	16,462,000
Total	18,918,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,456,000
Building and Improvements	16,462,000
Total	18,918,000
Accumulated Depreciation and Amortization	$ (114,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Lomita Post-Acute Care Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,743,000
Buildings and Improvements	14,734,000
Total	17,477,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,743,000
Building and Improvements	14,734,000
Total	17,477,000
Accumulated Depreciation and Amortization	$ (111,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | University Post-Acute Rehab
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,846,000
Buildings and Improvements	17,962,000
Total	20,808,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,846,000
Building and Improvements	17,962,000
Total	20,808,000
Accumulated Depreciation and Amortization	$ (127,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Issaquah Nursing & Rehab Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	10,125,000
Buildings and Improvements	7,771,000
Total	17,896,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	10,125,000
Building and Improvements	7,771,000
Total	17,896,000
Accumulated Depreciation and Amortization	$ (66,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Alamitos-Belmont Rehab Hospital
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,157,000
Buildings and Improvements	22,067,000
Total	25,224,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	3,157,000
Building and Improvements	22,067,000
Total	25,224,000
Accumulated Depreciation and Amortization	$ (160,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Edgewater Skilled Nursing Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,857,000
Buildings and Improvements	5,878,000
Total	8,735,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,857,000
Building and Improvements	5,878,000
Total	8,735,000
Accumulated Depreciation and Amortization	$ (46,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Fairmont Rehabilitation Hospital
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	812,000
Buildings and Improvements	21,059,000
Total	21,871,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	812,000
Building and Improvements	21,059,000
Total	21,871,000
Accumulated Depreciation and Amortization	$ (142,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Palm Terrace Care Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,717,000
Buildings and Improvements	13,806,000
Total	15,523,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,717,000
Building and Improvements	13,806,000
Total	15,523,000
Accumulated Depreciation and Amortization	$ (109,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Woodland Nursing & Rehab
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	278,000
Buildings and Improvements	16,729,000
Total	17,007,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	278,000
Building and Improvements	16,729,000
Total	17,007,000
Accumulated Depreciation and Amortization	$ (120,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care Facilities | Park Manor at Bee Cave
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,107,000
Buildings and Improvements	10,413,000
Total	12,520,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,104,000
Building and Improvements	10,424,000
Total	12,528,000
Accumulated Depreciation and Amortization	$ (87,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased
Real Estate and Accumulated Depreciation
Encumbrances	$ 30,369,000
Initial Cost to Company
Land	104,386,000
Buildings and Improvements	1,060,928,000
Total	1,165,314,000
Cost Capitalized Subsequent to Acquisition	5,954,000
Gross Amount at which Carried at Close of Period
Land	104,483,000
Building and Improvements	1,062,204,000
Total	1,166,687,000
Accumulated Depreciation and Amortization	(102,370,000)
Senior Housing - Leased | Monroe House
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	0
Buildings and Improvements	182,000
Total	182,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	0
Building and Improvements	39,000
Total	39,000
Accumulated Depreciation and Amortization	$ (33,000)
Life on Which Depreciation in Latest Income Statement is Computed	15 years
Senior Housing - Leased | Forest Hills (ALF)
Initial Cost to Company
Land	$ 1,803,000
Buildings and Improvements	3,927,000
Total	5,730,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,803,000
Building and Improvements	3,775,000
Total	5,578,000
Accumulated Depreciation and Amortization	$ (1,768,000)
Life on Which Depreciation in Latest Income Statement is Computed	30 years
Senior Housing - Leased | Langdon Place of Exeter
Real Estate and Accumulated Depreciation
Encumbrances	$ 3,166,000
Initial Cost to Company
Land	571,000
Buildings and Improvements	7,183,000
Total	7,754,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	571,000
Building and Improvements	6,323,000
Total	6,894,000
Accumulated Depreciation and Amortization	$ (2,257,000)
Life on Which Depreciation in Latest Income Statement is Computed	43 years
Senior Housing - Leased | Langdon Place of Nashua
Real Estate and Accumulated Depreciation
Encumbrances	$ 5,224,000
Initial Cost to Company
Land	0
Buildings and Improvements	5,654,000
Total	5,654,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	0
Building and Improvements	4,840,000
Total	4,840,000
Accumulated Depreciation and Amortization	$ (1,494,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Langdon Place of Keene
Real Estate and Accumulated Depreciation
Encumbrances	$ 4,538,000
Initial Cost to Company
Land	304,000
Buildings and Improvements	3,992,000
Total	4,296,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	304,000
Building and Improvements	3,561,000
Total	3,865,000
Accumulated Depreciation and Amortization	$ (1,451,000)
Life on Which Depreciation in Latest Income Statement is Computed	46 years
Senior Housing - Leased | Langdon Place of Dover
Real Estate and Accumulated Depreciation
Encumbrances	$ 3,933,000
Initial Cost to Company
Land	801,000
Buildings and Improvements	10,036,000
Total	10,837,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	801,000
Building and Improvements	9,155,000
Total	9,956,000
Accumulated Depreciation and Amortization	$ (3,162,000)
Life on Which Depreciation in Latest Income Statement is Computed	42 years
Senior Housing - Leased | Clipper Harbor
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	846,000
Buildings and Improvements	7,632,000
Total	8,478,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	846,000
Building and Improvements	6,486,000
Total	7,332,000
Accumulated Depreciation and Amortization	$ (2,546,000)
Life on Which Depreciation in Latest Income Statement is Computed	43 years
Senior Housing - Leased | Glen Crest
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,356,000
Buildings and Improvements	6,666,000
Total	8,022,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,356,000
Building and Improvements	6,532,000
Total	7,888,000
Accumulated Depreciation and Amortization	$ (2,373,000)
Life on Which Depreciation in Latest Income Statement is Computed	32 years
Senior Housing - Leased | Village at Northrise
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,432,000
Buildings and Improvements	6,003,000
Total	7,435,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,432,000
Building and Improvements	5,095,000
Total	6,527,000
Accumulated Depreciation and Amortization	$ (2,692,000)
Life on Which Depreciation in Latest Income Statement is Computed	29 years
Senior Housing - Leased | Age-Well Senior Living
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	256,000
Buildings and Improvements	2,262,000
Total	2,518,000
Cost Capitalized Subsequent to Acquisition	1,032,000
Gross Amount at which Carried at Close of Period
Land	256,000
Building and Improvements	3,294,000
Total	3,550,000
Accumulated Depreciation and Amortization	$ (1,167,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | New Dawn Memory Care
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,874,000
Buildings and Improvements	12,829,000
Total	15,703,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,874,000
Building and Improvements	12,829,000
Total	15,703,000
Accumulated Depreciation and Amortization	$ (1,825,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Independence Village at Frankenmuth
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	5,027,000
Buildings and Improvements	20,929,000
Total	25,956,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	5,027,000
Building and Improvements	20,929,000
Total	25,956,000
Accumulated Depreciation and Amortization	$ (3,217,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Gulf Pointe Village
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	789,000
Buildings and Improvements	607,000
Total	1,396,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	789,000
Building and Improvements	607,000
Total	1,396,000
Accumulated Depreciation and Amortization	$ (151,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Aspen Ridge Retirement Village
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,024,000
Buildings and Improvements	5,467,000
Total	7,491,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,024,000
Building and Improvements	5,467,000
Total	7,491,000
Accumulated Depreciation and Amortization	$ (987,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Green Acres of Cadillac
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	217,000
Buildings and Improvements	3,000,000
Total	3,217,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	218,000
Building and Improvements	3,000,000
Total	3,218,000
Accumulated Depreciation and Amortization	$ (458,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Green Acres of Greenville
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	684,000
Buildings and Improvements	5,832,000
Total	6,516,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	684,000
Building and Improvements	5,832,000
Total	6,516,000
Accumulated Depreciation and Amortization	$ (887,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Green Acres of Manistee
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	952,000
Buildings and Improvements	2,578,000
Total	3,530,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	952,000
Building and Improvements	2,578,000
Total	3,530,000
Accumulated Depreciation and Amortization	$ (433,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Green Acres of Mason
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	198,000
Buildings and Improvements	4,131,000
Total	4,329,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	198,000
Building and Improvements	4,131,000
Total	4,329,000
Accumulated Depreciation and Amortization	$ (657,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Nottingham Place
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	744,000
Buildings and Improvements	1,745,000
Total	2,489,000
Cost Capitalized Subsequent to Acquisition	400,000
Gross Amount at which Carried at Close of Period
Land	744,000
Building and Improvements	2,145,000
Total	2,889,000
Accumulated Depreciation and Amortization	$ (324,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Royal View
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	307,000
Buildings and Improvements	2,477,000
Total	2,784,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	307,000
Building and Improvements	2,477,000
Total	2,784,000
Accumulated Depreciation and Amortization	$ (431,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Tawas Village
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	258,000
Buildings and Improvements	3,713,000
Total	3,971,000
Cost Capitalized Subsequent to Acquisition	45,000
Gross Amount at which Carried at Close of Period
Land	258,000
Building and Improvements	3,758,000
Total	4,016,000
Accumulated Depreciation and Amortization	$ (769,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Turning Brook
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	546,000
Buildings and Improvements	13,139,000
Total	13,685,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	546,000
Building and Improvements	13,139,000
Total	13,685,000
Accumulated Depreciation and Amortization	$ (1,796,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Greenfield of Woodstock
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	597,000
Buildings and Improvements	5,465,000
Total	6,062,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	597,000
Building and Improvements	5,465,000
Total	6,062,000
Accumulated Depreciation and Amortization	$ (716,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Nye Square
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	504,000
Buildings and Improvements	17,670,000
Total	18,174,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	504,000
Building and Improvements	17,670,000
Total	18,174,000
Accumulated Depreciation and Amortization	$ (1,983,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | The Meadows
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	217,000
Buildings and Improvements	9,906,000
Total	10,123,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	217,000
Building and Improvements	9,906,000
Total	10,123,000
Accumulated Depreciation and Amortization	$ (1,158,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Park Place
Real Estate and Accumulated Depreciation
Encumbrances	$ 13,508,000
Initial Cost to Company
Land	2,300,000
Buildings and Improvements	21,115,000
Total	23,415,000
Cost Capitalized Subsequent to Acquisition	2,747,000
Gross Amount at which Carried at Close of Period
Land	2,300,000
Building and Improvements	23,861,000
Total	26,161,000
Accumulated Depreciation and Amortization	$ (2,751,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Parkview in Allen
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,190,000
Buildings and Improvements	45,767,000
Total	47,957,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,190,000
Building and Improvements	45,767,000
Total	47,957,000
Accumulated Depreciation and Amortization	$ (4,207,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | The Atrium At Gainesville
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,139,000
Buildings and Improvements	44,789,000
Total	46,928,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,139,000
Building and Improvements	44,789,000
Total	46,928,000
Accumulated Depreciation and Amortization	$ (4,332,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | The Chateau
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,760,000
Buildings and Improvements	44,397,000
Total	47,157,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,760,000
Building and Improvements	44,397,000
Total	47,157,000
Accumulated Depreciation and Amortization	$ (4,135,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Gardens At Wakefield Plantation
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,344,000
Buildings and Improvements	37,506,000
Total	39,850,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,344,000
Building and Improvements	37,506,000
Total	39,850,000
Accumulated Depreciation and Amortization	$ (3,388,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Las Brisas
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	4,992,000
Buildings and Improvements	30,909,000
Total	35,901,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	4,992,000
Building and Improvements	30,909,000
Total	35,901,000
Accumulated Depreciation and Amortization	$ (2,901,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Creekside Terrace
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,995,000
Buildings and Improvements	24,428,000
Total	27,423,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,995,000
Building and Improvements	24,428,000
Total	27,423,000
Accumulated Depreciation and Amortization	$ (2,338,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Colonial Village
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	805,000
Buildings and Improvements	26,498,000
Total	27,303,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	805,000
Building and Improvements	26,498,000
Total	27,303,000
Accumulated Depreciation and Amortization	$ (2,501,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Garden Village
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,325,000
Buildings and Improvements	20,510,000
Total	21,835,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,325,000
Building and Improvements	20,510,000
Total	21,835,000
Accumulated Depreciation and Amortization	$ (2,039,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Desert Rose
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	530,000
Buildings and Improvements	21,775,000
Total	22,305,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	530,000
Building and Improvements	21,775,000
Total	22,305,000
Accumulated Depreciation and Amortization	$ (2,077,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Windland South
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,996,000
Buildings and Improvements	19,368,000
Total	21,364,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,996,000
Building and Improvements	19,368,000
Total	21,364,000
Accumulated Depreciation and Amortization	$ (1,973,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Cedar Woods
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,403,000
Buildings and Improvements	18,821,000
Total	21,224,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,403,000
Building and Improvements	18,821,000
Total	21,224,000
Accumulated Depreciation and Amortization	$ (1,795,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Virginian
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,080,000
Buildings and Improvements	19,545,000
Total	20,625,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,080,000
Building and Improvements	19,545,000
Total	20,625,000
Accumulated Depreciation and Amortization	$ (1,889,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Monarch Estates
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,209,000
Buildings and Improvements	17,326,000
Total	20,535,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	3,209,000
Building and Improvements	17,326,000
Total	20,535,000
Accumulated Depreciation and Amortization	$ (1,720,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Village At The Falls
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,477,000
Buildings and Improvements	18,778,000
Total	20,255,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,477,000
Building and Improvements	18,778,000
Total	20,255,000
Accumulated Depreciation and Amortization	$ (1,861,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Holiday At The Atrium
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	978,000
Buildings and Improvements	18,257,000
Total	19,235,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	978,000
Building and Improvements	18,257,000
Total	19,235,000
Accumulated Depreciation and Amortization	$ (1,764,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Lake Ridge Village
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,152,000
Buildings and Improvements	17,523,000
Total	18,675,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,152,000
Building and Improvements	17,523,000
Total	18,675,000
Accumulated Depreciation and Amortization	$ (1,729,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Heritage Village
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	4,092,000
Buildings and Improvements	13,823,000
Total	17,915,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	4,092,000
Building and Improvements	13,823,000
Total	17,915,000
Accumulated Depreciation and Amortization	$ (1,415,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Madison Meadows
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,567,000
Buildings and Improvements	12,029,000
Total	14,596,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,567,000
Building and Improvements	12,029,000
Total	14,596,000
Accumulated Depreciation and Amortization	$ (1,262,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | South Wind Heights
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,782,000
Buildings and Improvements	11,244,000
Total	13,026,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,782,000
Building and Improvements	11,244,000
Total	13,026,000
Accumulated Depreciation and Amortization	$ (1,162,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Harrison Regent
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	794,000
Buildings and Improvements	10,873,000
Total	11,667,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	794,000
Building and Improvements	10,873,000
Total	11,667,000
Accumulated Depreciation and Amortization	$ (1,081,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Avalon MC - Boat Club
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	359,000
Buildings and Improvements	8,126,000
Total	8,485,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	359,000
Building and Improvements	8,126,000
Total	8,485,000
Accumulated Depreciation and Amortization	$ (758,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Avalon MC - 7200
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	123,000
Buildings and Improvements	4,914,000
Total	5,037,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	123,000
Building and Improvements	4,914,000
Total	5,037,000
Accumulated Depreciation and Amortization	$ (459,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Avalon MC - 7204
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	215,000
Buildings and Improvements	4,821,000
Total	5,036,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	215,000
Building and Improvements	4,822,000
Total	5,037,000
Accumulated Depreciation and Amortization	$ (453,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Avalon MC - 7140
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	143,000
Buildings and Improvements	6,653,000
Total	6,796,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	144,000
Building and Improvements	6,653,000
Total	6,797,000
Accumulated Depreciation and Amortization	$ (607,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Delaney Creek Lodge
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,283,000
Buildings and Improvements	8,424,000
Total	9,707,000
Cost Capitalized Subsequent to Acquisition	35,000
Gross Amount at which Carried at Close of Period
Land	1,284,000
Building and Improvements	8,459,000
Total	9,743,000
Accumulated Depreciation and Amortization	$ (856,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Nature Coast Lodge
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,031,000
Buildings and Improvements	5,577,000
Total	6,608,000
Cost Capitalized Subsequent to Acquisition	46,000
Gross Amount at which Carried at Close of Period
Land	1,031,000
Building and Improvements	5,624,000
Total	6,655,000
Accumulated Depreciation and Amortization	$ (649,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | West Winds
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,688,000
Buildings and Improvements	9,098,000
Total	10,786,000
Cost Capitalized Subsequent to Acquisition	55,000
Gross Amount at which Carried at Close of Period
Land	1,688,000
Building and Improvements	9,155,000
Total	10,843,000
Accumulated Depreciation and Amortization	$ (1,016,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Capital Place
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,477,000
Buildings and Improvements	23,767,000
Total	26,244,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,477,000
Building and Improvements	23,767,000
Total	26,244,000
Accumulated Depreciation and Amortization	$ (2,245,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Tudor Heights
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	561,000
Buildings and Improvements	4,865,000
Total	5,426,000
Cost Capitalized Subsequent to Acquisition	1,139,000
Gross Amount at which Carried at Close of Period
Land	561,000
Building and Improvements	6,006,000
Total	6,567,000
Accumulated Depreciation and Amortization	$ (693,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | New Haven AL
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,174,000
Buildings and Improvements	6,298,000
Total	7,472,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,174,000
Building and Improvements	6,298,000
Total	7,472,000
Accumulated Depreciation and Amortization	$ (535,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Life's Journey of Mattoon
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	812,000
Buildings and Improvements	6,796,000
Total	7,608,000
Cost Capitalized Subsequent to Acquisition	63,000
Gross Amount at which Carried at Close of Period
Land	812,000
Building and Improvements	6,859,000
Total	7,671,000
Accumulated Depreciation and Amortization	$ (529,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Life's Journey of Pana
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	154,000
Buildings and Improvements	2,098,000
Total	2,252,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	154,000
Building and Improvements	2,098,000
Total	2,252,000
Accumulated Depreciation and Amortization	$ (185,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Life's Journey of Taylorville
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	267,000
Buildings and Improvements	5,201,000
Total	5,468,000
Cost Capitalized Subsequent to Acquisition	50,000
Gross Amount at which Carried at Close of Period
Land	267,000
Building and Improvements	5,252,000
Total	5,519,000
Accumulated Depreciation and Amortization	$ (406,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Life's Journey Estates
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	134,000
Buildings and Improvements	659,000
Total	793,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	134,000
Building and Improvements	659,000
Total	793,000
Accumulated Depreciation and Amortization	$ (63,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Life's Journey of Paris
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	132,000
Buildings and Improvements	3,090,000
Total	3,222,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	132,000
Building and Improvements	3,090,000
Total	3,222,000
Accumulated Depreciation and Amortization	$ (217,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Ashley Pointe
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,559,000
Buildings and Improvements	9,059,000
Total	10,618,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,559,000
Building and Improvements	9,059,000
Total	10,618,000
Accumulated Depreciation and Amortization	$ (627,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Farmington Square Eugene
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,428,000
Buildings and Improvements	16,138,000
Total	17,566,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,428,000
Building and Improvements	16,138,000
Total	17,566,000
Accumulated Depreciation and Amortization	$ (989,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Farmington Square Tualatin
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	527,000
Buildings and Improvements	14,659,000
Total	15,186,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	527,000
Building and Improvements	14,659,000
Total	15,186,000
Accumulated Depreciation and Amortization	$ (904,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Farmington Square of Salem
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,074,000
Buildings and Improvements	19,421,000
Total	20,495,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,074,000
Building and Improvements	19,421,000
Total	20,495,000
Accumulated Depreciation and Amortization	$ (1,236,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Colorado Springs
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,210,000
Buildings and Improvements	9,490,000
Total	10,700,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,210,000
Building and Improvements	9,490,000
Total	10,700,000
Accumulated Depreciation and Amortization	$ (599,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Sun City West
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	930,000
Buildings and Improvements	9,170,000
Total	10,100,000
Cost Capitalized Subsequent to Acquisition	245,000
Gross Amount at which Carried at Close of Period
Land	930,000
Building and Improvements	9,415,000
Total	10,345,000
Accumulated Depreciation and Amortization	$ (414,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Poet's Walk at Fredericksburg
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,379,000
Buildings and Improvements	21,209,000
Total	22,588,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,379,000
Building and Improvements	21,209,000
Total	22,588,000
Accumulated Depreciation and Amortization	$ (929,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Poet's Walk at Chandler Oaks
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	679,000
Buildings and Improvements	13,642,000
Total	14,321,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	679,000
Building and Improvements	13,642,000
Total	14,321,000
Accumulated Depreciation and Amortization	$ (580,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | The Montecito Santa Fe
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,536,000
Buildings and Improvements	19,441,000
Total	21,977,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,633,000
Building and Improvements	20,197,000
Total	22,830,000
Accumulated Depreciation and Amortization	$ (740,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | The Golden Crest
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	292,000
Buildings and Improvements	6,889,000
Total	7,181,000
Cost Capitalized Subsequent to Acquisition	97,000
Gross Amount at which Carried at Close of Period
Land	292,000
Building and Improvements	6,996,000
Total	7,288,000
Accumulated Depreciation and Amortization	$ (255,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Poet's Walk at Henderson
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,430,000
Buildings and Improvements	21,850,000
Total	23,280,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,430,000
Building and Improvements	21,862,000
Total	23,292,000
Accumulated Depreciation and Amortization	$ (675,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Kruse Village
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	476,000
Buildings and Improvements	11,912,000
Total	12,388,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	476,000
Building and Improvements	11,922,000
Total	12,398,000
Accumulated Depreciation and Amortization	$ (421,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Poet's Walk of Cedar Parks
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,035,000
Buildings and Improvements	13,127,000
Total	14,162,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,035,000
Building and Improvements	13,127,000
Total	14,162,000
Accumulated Depreciation and Amortization	$ (226,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Avamere Court at Keizer
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,220,000
Buildings and Improvements	31,783,000
Total	33,003,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,220,000
Building and Improvements	31,783,000
Total	33,003,000
Accumulated Depreciation and Amortization	$ (286,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Arbor Court Retirement Community at Alvamar
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	584,000
Buildings and Improvements	4,431,000
Total	5,015,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	584,000
Building and Improvements	4,431,000
Total	5,015,000
Accumulated Depreciation and Amortization	$ (45,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Arbor Court Retirement Community at Salina
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	584,000
Buildings and Improvements	3,020,000
Total	3,604,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	584,000
Building and Improvements	3,020,000
Total	3,604,000
Accumulated Depreciation and Amortization	$ (30,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Arbor Court Retirement Community at Topeka
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	313,000
Buildings and Improvements	5,492,000
Total	5,805,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	313,000
Building and Improvements	5,492,000
Total	5,805,000
Accumulated Depreciation and Amortization	$ (51,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Summit West
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	996,000
Buildings and Improvements	4,401,000
Total	5,397,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	996,000
Building and Improvements	4,401,000
Total	5,397,000
Accumulated Depreciation and Amortization	$ (46,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Crownpointe of Carmel
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,107,000
Buildings and Improvements	1,532,000
Total	2,639,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,107,000
Building and Improvements	1,532,000
Total	2,639,000
Accumulated Depreciation and Amortization	$ (16,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Crown Pointe Senior Living Community
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	396,000
Buildings and Improvements	7,425,000
Total	7,821,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	396,000
Building and Improvements	7,425,000
Total	7,821,000
Accumulated Depreciation and Amortization	$ (67,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Lakeview Commons Assisted Living
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	213,000
Buildings and Improvements	1,282,000
Total	1,495,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	213,000
Building and Improvements	1,282,000
Total	1,495,000
Accumulated Depreciation and Amortization	$ (11,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Azalea Hills
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,256,000
Buildings and Improvements	14,118,000
Total	16,374,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,256,000
Building and Improvements	14,118,000
Total	16,374,000
Accumulated Depreciation and Amortization	$ (128,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Lakeside ALF
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,158,000
Buildings and Improvements	2,536,000
Total	3,694,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,158,000
Building and Improvements	2,536,000
Total	3,694,000
Accumulated Depreciation and Amortization	$ (33,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Heritage Oaks Retirement Village
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,300,000
Buildings and Improvements	14,406,000
Total	15,706,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,300,000
Building and Improvements	14,406,000
Total	15,706,000
Accumulated Depreciation and Amortization	$ (139,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Aspen Grove Assisted Living
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	555,000
Buildings and Improvements	6,487,000
Total	7,042,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	555,000
Building and Improvements	6,487,000
Total	7,042,000
Accumulated Depreciation and Amortization	$ (66,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | Maurice Griffith Manor Living Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	294,000
Buildings and Improvements	72,000
Total	366,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	294,000
Building and Improvements	72,000
Total	366,000
Accumulated Depreciation and Amortization	$ (1,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased | The Peaks at Old Laramie Trail (Lafayette)
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,085,000
Buildings and Improvements	19,243,000
Total	20,328,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,082,000
Building and Improvements	19,240,000
Total	20,322,000
Accumulated Depreciation and Amortization	$ (130,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Managed
Real Estate and Accumulated Depreciation
Encumbrances	$ 18,005,000
Initial Cost to Company
Land	16,243,000
Buildings and Improvements	161,764,000
Total	178,007,000
Cost Capitalized Subsequent to Acquisition	1,131,000
Gross Amount at which Carried at Close of Period
Land	16,622,000
Building and Improvements	172,498,000
Total	189,120,000
Accumulated Depreciation and Amortization	(12,125,000)
Senior Housing - Managed | Stoney River Marshfield
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	574,000
Buildings and Improvements	8,733,000
Total	9,307,000
Cost Capitalized Subsequent to Acquisition	76,000
Gross Amount at which Carried at Close of Period
Land	574,000
Building and Improvements	8,809,000
Total	9,383,000
Accumulated Depreciation and Amortization	$ (1,282,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Managed | Kensington Court
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,360,000
Buildings and Improvements	16,855,000
Total	18,215,000
Cost Capitalized Subsequent to Acquisition	174,000
Gross Amount at which Carried at Close of Period
Land	1,457,000
Building and Improvements	18,223,000
Total	19,680,000
Accumulated Depreciation and Amortization	$ (1,363,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Managed | Masonville Manor
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	960,000
Buildings and Improvements	19,056,000
Total	20,016,000
Cost Capitalized Subsequent to Acquisition	196,000
Gross Amount at which Carried at Close of Period
Land	1,028,000
Building and Improvements	20,601,000
Total	21,629,000
Accumulated Depreciation and Amortization	$ (1,507,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Managed | Okanagan Chateau
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,321,000
Buildings and Improvements	8,308,000
Total	10,629,000
Cost Capitalized Subsequent to Acquisition	167,000
Gross Amount at which Carried at Close of Period
Land	2,485,000
Building and Improvements	9,064,000
Total	11,549,000
Accumulated Depreciation and Amortization	$ (755,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Managed | Court at Laurelwood
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,823,000
Buildings and Improvements	22,135,000
Total	23,958,000
Cost Capitalized Subsequent to Acquisition	86,000
Gross Amount at which Carried at Close of Period
Land	1,952,000
Building and Improvements	23,789,000
Total	25,741,000
Accumulated Depreciation and Amortization	$ (1,736,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Managed | Fairwoods Lodge
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,187,000
Buildings and Improvements	20,346,000
Total	21,533,000
Cost Capitalized Subsequent to Acquisition	109,000
Gross Amount at which Carried at Close of Period
Land	1,271,000
Building and Improvements	21,897,000
Total	23,168,000
Accumulated Depreciation and Amortization	$ (1,602,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Managed | The Shores
Real Estate and Accumulated Depreciation
Encumbrances	$ 5,473,000
Initial Cost to Company
Land	679,000
Buildings and Improvements	8,024,000
Total	8,703,000
Cost Capitalized Subsequent to Acquisition	26,000
Gross Amount at which Carried at Close of Period
Land	727,000
Building and Improvements	8,618,000
Total	9,345,000
Accumulated Depreciation and Amortization	$ (670,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Managed | Orchard Valley
Real Estate and Accumulated Depreciation
Encumbrances	$ 7,286,000
Initial Cost to Company
Land	843,000
Buildings and Improvements	10,724,000
Total	11,567,000
Cost Capitalized Subsequent to Acquisition	18,000
Gross Amount at which Carried at Close of Period
Land	289,000
Building and Improvements	11,502,000
Total	11,791,000
Accumulated Depreciation and Amortization	$ (842,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Managed | Cherry Park
Real Estate and Accumulated Depreciation
Encumbrances	$ 5,246,000
Initial Cost to Company
Land	763,000
Buildings and Improvements	6,771,000
Total	7,534,000
Cost Capitalized Subsequent to Acquisition	32,000
Gross Amount at which Carried at Close of Period
Land	817,000
Building and Improvements	7,283,000
Total	8,100,000
Accumulated Depreciation and Amortization	$ (564,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Managed | Birmingham Lodge
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	143,000
Buildings and Improvements	2,402,000
Total	2,545,000
Cost Capitalized Subsequent to Acquisition	72,000
Gross Amount at which Carried at Close of Period
Land	155,000
Building and Improvements	2,640,000
Total	2,795,000
Accumulated Depreciation and Amortization	$ (292,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Managed | Maison Senior Living
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,908,000
Buildings and Improvements	20,996,000
Total	24,904,000
Cost Capitalized Subsequent to Acquisition	175,000
Gross Amount at which Carried at Close of Period
Land	4,185,000
Building and Improvements	22,659,000
Total	26,844,000
Accumulated Depreciation and Amortization	$ (1,375,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Managed | Ramsey
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,182,000
Buildings and Improvements	13,280,000
Total	14,462,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,182,000
Building and Improvements	13,280,000
Total	14,462,000
Accumulated Depreciation and Amortization	$ (100,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Managed | Marshfield II
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	500,000
Buildings and Improvements	4,134,000
Total	4,634,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	500,000
Building and Improvements	4,133,000
Total	4,633,000
Accumulated Depreciation and Amortization	$ (37,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	75,619,000
Buildings and Improvements	538,451,000
Total	614,070,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	75,618,000
Building and Improvements	538,450,000
Total	614,068,000
Accumulated Depreciation and Amortization	(16,620,000)
Specialty Hospitals and Other | Texas Regional Medical Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	4,020,000
Buildings and Improvements	57,620,000
Total	61,640,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	4,020,000
Building and Improvements	57,620,000
Total	61,640,000
Accumulated Depreciation and Amortization	$ (12,234,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other | Baylor Orthopedic Spine Hospital at Arlington
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	0
Buildings and Improvements	44,217,000
Total	44,217,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	0
Building and Improvements	44,217,000
Total	44,217,000
Accumulated Depreciation and Amortization	$ (379,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other | Touchstone Neurorecovery Center
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,935,000
Buildings and Improvements	25,003,000
Total	27,938,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,935,000
Building and Improvements	25,003,000
Total	27,938,000
Accumulated Depreciation and Amortization	$ (242,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other | HealthBridge Children's Hospital (Houston)
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,001,000
Buildings and Improvements	14,581,000
Total	17,582,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	3,001,000
Building and Improvements	14,581,000
Total	17,582,000
Accumulated Depreciation and Amortization	$ (127,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other | Nexus Speciality Hospital - Woodlands Campus
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,319,000
Buildings and Improvements	15,153,000
Total	16,472,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,319,000
Building and Improvements	15,153,000
Total	16,472,000
Accumulated Depreciation and Amortization	$ (132,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other | HealthBridge Children's Hospital (Orange)
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,060,000
Buildings and Improvements	5,538,000
Total	7,598,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,060,000
Building and Improvements	5,538,000
Total	7,598,000
Accumulated Depreciation and Amortization	$ (50,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other | ResCare Tangram - Texas Hill Country School
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	902,000
Buildings and Improvements	2,384,000
Total	3,286,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	902,000
Building and Improvements	2,384,000
Total	3,286,000
Accumulated Depreciation and Amortization	$ (24,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other | ResCare Tangram - Chaparral
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	901,000
Buildings and Improvements	1,198,000
Total	2,099,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	901,000
Building and Improvements	1,198,000
Total	2,099,000
Accumulated Depreciation and Amortization	$ (15,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other | ResCare Tangram - Sierra Verde & Roca Vista
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	456,000
Buildings and Improvements	2,632,000
Total	3,088,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	456,000
Building and Improvements	2,632,000
Total	3,088,000
Accumulated Depreciation and Amortization	$ (25,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other | ResCare Tangram - 618 W. Hutchinson
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	51,000
Buildings and Improvements	359,000
Total	410,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	51,000
Building and Improvements	359,000
Total	410,000
Accumulated Depreciation and Amortization	$ (4,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other | ResCare Tangram - Ranch
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	539,000
Buildings and Improvements	2,627,000
Total	3,166,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	539,000
Building and Improvements	2,627,000
Total	3,166,000
Accumulated Depreciation and Amortization	$ (32,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other | ResCare Tangram - Mesquite
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	228,000
Buildings and Improvements	3,407,000
Total	3,635,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	228,000
Building and Improvements	3,407,000
Total	3,635,000
Accumulated Depreciation and Amortization	$ (33,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other | ResCare Tangram - Hacienda
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	104,000
Buildings and Improvements	2,788,000
Total	2,892,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	104,000
Building and Improvements	2,788,000
Total	2,892,000
Accumulated Depreciation and Amortization	$ (25,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other | ResCare Tangram - Loma Linda
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	52,000
Buildings and Improvements	805,000
Total	857,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	52,000
Building and Improvements	805,000
Total	857,000
Accumulated Depreciation and Amortization	$ (8,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other | Aurora Chicago Lakeshore Hospital
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	8,574,000
Buildings and Improvements	39,732,000
Total	48,306,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	8,574,000
Building and Improvements	39,732,000
Total	48,306,000
Accumulated Depreciation and Amortization	$ (368,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other | Aurora Arizona West
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,501,000
Buildings and Improvements	67,046,000
Total	68,547,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,501,000
Building and Improvements	67,046,000
Total	68,547,000
Accumulated Depreciation and Amortization	$ (586,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other | Aurora Arizona East
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,137,000
Buildings and Improvements	50,073,000
Total	53,210,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	3,137,000
Building and Improvements	50,073,000
Total	53,210,000
Accumulated Depreciation and Amortization	$ (448,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other | Aurora Charter Oak Hospital
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	23,472,000
Buildings and Improvements	71,542,000
Total	95,014,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	23,472,000
Building and Improvements	71,542,000
Total	95,014,000
Accumulated Depreciation and Amortization	$ (655,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other | Aurora Vista del Mar Hospital
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	8,089,000
Buildings and Improvements	43,645,000
Total	51,734,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	8,089,000
Building and Improvements	43,645,000
Total	51,734,000
Accumulated Depreciation and Amortization	$ (431,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other | Aurora San Diego Hospital
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	8,403,000
Buildings and Improvements	55,015,000
Total	63,418,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	8,403,000
Building and Improvements	55,015,000
Total	63,418,000
Accumulated Depreciation and Amortization	$ (505,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other | Gateway Rehabilitation Hospital at Florence
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,866,000
Buildings and Improvements	26,447,000
Total	30,313,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	3,866,000
Building and Improvements	26,447,000
Total	30,313,000
Accumulated Depreciation and Amortization	$ (231,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other | Highlands Regional Rehabilitation Hospital
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,009,000
Buildings and Improvements	6,639,000
Total	8,648,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,008,000
Building and Improvements	6,638,000
Total	8,646,000
Accumulated Depreciation and Amortization	$ (66,000)
Life on Which Depreciation in Latest Income Statement is Computed	40 years

SCHEDULE III - REAL ESTATE AS93

SCHEDULE III - REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION - Rollforward of Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Real estate:
Balance at the beginning of the year	$ 2,292,751	$ 2,277,457	$ 1,831,799
Acquisitions	4,145,977	150,782	482,125
Real estate acquired through loan receivable foreclosure	19,096	10,100	0
Addition due to consolidation of variable interest entity	0	0	10,700
Improvements	6,954	1,003	3,689
Impairment	(2,211)	(39,058)	0
Sale of real estate	(133,897)	(107,930)	(29,395)
Foreign currency translation	10,556	4,623	(16,944)
Write-off of fully depreciated assets	(4,371)	(4,226)	(4,517)
Balance at the end of the year	6,334,855	2,292,751	2,277,457
Accumulated depreciation:
Balance at the beginning of the year	(282,812)	(237,841)	(185,994)
Depreciation expense	(101,198)	(64,463)	(59,864)
Impairment	885	9,247	0
Sale of real estate	38,914	6,023	3,384
Foreign currency translation	(583)	(4)	116
Write-off of fully depreciated assets	4,371	4,226	4,517
Balance at the end of the year	$ (340,423)	$ (282,812)	$ (237,841)

SCHEDULE IV - MORTGAGE LOANS 94

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Mortgage Loans on Real Estate [Line Items]
Prior Liens	$ 0
Principal Balance	16,033
Book Value	15,083
Aggregate cost for federal income tax purposes	16,200
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance at the beginning of the year	39,026	$ 241,038	$ 209,275
Additions during period:
Draws	1,738	0	8,713
New mortgage loans	12,987	3,767	20,411
Interest income added to principal	539	690	2,639
Deductions during period:
Paydowns/repayments	(14,570)	(193,075)	0
Conversion to real property	(19,085)	(10,100)	0
Write-offs	(4,602)	(3,294)	0
Balance at the end of the year	$ 16,033	$ 39,026	$ 241,038
Mortgages | South Tampa
Mortgage Loans on Real Estate [Line Items]
Contractual Interest Rate	9.80%
Prior Liens	$ 0
Principal Balance	5,358
Book Value	$ 4,342
Mortgages | River Vista
Mortgage Loans on Real Estate [Line Items]
Contractual Interest Rate	10.00%
Prior Liens	$ 0
Principal Balance	8,008
Book Value	$ 8,008
Construction Mortgages | McKinney
Mortgage Loans on Real Estate [Line Items]
Contractual Interest Rate	8.00%
Prior Liens	$ 0
Principal Balance	2,453
Book Value	$ 2,499
Construction Mortgages | Arlington
Mortgage Loans on Real Estate [Line Items]
Contractual Interest Rate	8.00%
Prior Liens	$ 0
Principal Balance	214
Book Value	$ 234