Sabra Health Care REIT (SBRA) 10-Q 30 Oct 19 2019 Q3 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	9 Months Ended
	Sep. 30, 2019	Oct. 24, 2019
Cover page.
Document Type	10-Q
Document Fiscal Period Focus	Q3
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Amendment Flag	false
Document Fiscal Year Focus	2019
Current Fiscal Year End Date	--12-31
Entity File Number	001-34950
Entity Registrant Name	SABRA HEALTH CARE REIT, INC.
Entity Central Index Key	0001492298
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	27-2560479
Entity Address, Address Line One	18500 Von Karman Avenue, Suite 550
Entity Address, City or Town	Irvine
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92612
City Area Code	888
Local Phone Number	393-8248
Title of 12(b) Security	Common stock, $.01 par value
Trading Symbol	SBRA
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		193,696,901

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Assets
Real estate investments, net of accumulated depreciation of $502,777 and $402,338 as of September 30, 2019 and December 31, 2018, respectively	$ 5,344,997	$ 5,853,545
Loans receivable and other investments, net	108,242	113,722
Investment in unconsolidated joint venture	324,324	340,120
Cash and cash equivalents	29,431	50,230
Restricted cash	10,231	9,428
Lease intangible assets, net	104,977	131,097
Accounts receivable, prepaid expenses and other assets, net	145,801	167,161
Total assets	6,068,003	6,665,303
Liabilities
Secured debt, net	113,644	115,679
Revolving credit facility	200,000	624,000
Term loans, net	1,182,983	1,184,930
Senior unsecured notes, net	1,106,484	1,307,394
Accounts payable and accrued liabilities	109,401	94,827
Lease intangible liabilities, net	73,074	83,726
Total liabilities	2,785,586	3,410,556
Commitments and contingencies (Note 13)
Equity
Common stock, $.01 par value; 250,000,000 shares authorized, 193,696,901 and 178,306,528 shares issued and outstanding as of September 30, 2019 and December 31, 2018, respectively	1,937	1,783
Additional paid-in capital	3,823,584	3,507,925
Cumulative distributions in excess of net income	(523,709)	(271,595)
Accumulated other comprehensive (loss) income	(19,395)	12,301
Total Sabra Health Care REIT, Inc. stockholders’ equity	3,282,417	3,250,414
Noncontrolling interests	0	4,333
Total equity	3,282,417	3,254,747
Total liabilities and equity	$ 6,068,003	$ 6,665,303

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Assets
Accumulated depreciation	$ 502,777	$ 402,338
Common stock
Par value (in dollars per share)	$ 0.01	$ 0.01
Shares authorized (in shares)	250,000,000	250,000,000
Shares issued (in shares)	193,696,901	178,306,528
Shares outstanding (in shares)	193,696,901	178,306,528

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues:
Rental and related revenues	$ 110,104	$ 130,467	$ 339,291	$ 418,951
Interest and other income	3,325	3,932	77,145	12,823
Resident fees and services	36,405	17,403	89,537	52,426
Total revenues	149,834	151,802	505,973	484,200
Expenses:
Depreciation and amortization	43,092	48,468	137,517	143,301
Interest	29,255	37,305	99,181	109,880
General and administrative	8,709	8,173	24,952	25,753
Provision for doubtful accounts, straight-line rental income and loan losses	57	8,910	1,457	9,449
Impairment of real estate	13,966	0	119,102	1,413
Total expenses	124,669	115,467	459,607	326,830
Other income (expense):
Loss on extinguishment of debt	(644)	0	(10,763)	0
Other income	215	1,336	385	4,156
Net (loss) gain on sales of real estate	(19)	14	1,216	142,445
Total other income (expense)	(448)	1,350	(9,162)	146,601
Income before loss from unconsolidated joint venture and income tax expense	24,717	37,685	37,204	303,971
Loss from unconsolidated joint venture	(605)	(1,725)	(5,635)	(3,626)
Income tax expense	(826)	(732)	(2,292)	(1,847)
Net income	23,286	35,228	29,277	298,498
Net income attributable to noncontrolling interests	(4)	(10)	(22)	(22)
Net income attributable to Sabra Health Care REIT, Inc.	23,282	35,218	29,255	298,476
Preferred stock dividends	0	0	0	(9,768)
Net income attributable to common stockholders	$ 23,282	$ 35,218	$ 29,255	$ 288,708
Net income attributable to common stockholders, per:
Basic common share (in dollars per share)	$ 0.12	$ 0.20	$ 0.16	$ 1.62
Diluted common share (in dollars per share)	$ 0.12	$ 0.20	$ 0.16	$ 1.62
Weighted-average number of common shares outstanding, basic (in shares)	190,650,400	178,317,769	183,578,254	178,309,127
Weighted-average number of common shares outstanding, diluted (in shares)	191,952,389	178,941,213	184,698,411	178,729,853
Triple-Net Portfolio
Expenses:
Operating expenses	$ 5,611	$ 0	$ 17,140	$ 0
Senior Housing - Managed
Expenses:
Operating expenses	$ 23,979	$ 12,611	$ 60,258	$ 37,034

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 23,286	$ 35,228	$ 29,277	$ 298,498
Unrealized gain (loss), net of tax:
Foreign currency translation gain (loss)	917	(65)	924	(178)
Unrealized (loss) gain on cash flow hedges	(9,376)	2,010	(32,620)	15,246
Total other comprehensive (loss) income	(8,459)	1,945	(31,696)	15,068
Comprehensive income	14,827	37,173	(2,419)	313,566
Comprehensive income attributable to noncontrolling interests	(4)	(10)	(22)	(22)
Comprehensive income attributable to Sabra Health Care REIT, Inc.	$ 14,823	$ 37,163	$ (2,441)	$ 313,544

CONDENSED CONSOLIDATED STATEM_3

CONDENSED 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 Income (Loss)	Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2017			5,750,000	178,255,843
Beginning balance at Dec. 31, 2017	$ 3,437,249	$ 3,432,807	$ 58	$ 1,783	$ 3,636,913	$ (217,236)	$ 11,289	$ 4,442
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	298,498	298,476				298,476		22
Other comprehensive income (loss)	14,273	14,273					14,273
Distributions to noncontrolling interests	(107)							(107)
Amortization of stock-based compensation	7,357	7,357			7,357
Preferred stock redemption (in shares)			(5,750,000)
Preferred stock redemption	(143,750)		$ (58)		(138,191)	(5,501)
Common stock issuance, net (in shares)				29,132
Common stock issuance, net	(202)	(202)			(202)
Preferred dividends	(4,267)	(4,267)				(4,267)
Common dividends	(241,793)	(241,793)				(241,793)
Ending balance (in shares) at Sep. 30, 2018			0	178,284,975
Ending balance at Sep. 30, 2018	3,367,258	3,362,901	$ 0	$ 1,783	3,505,877	(171,116)	26,357	4,357
Beginning balance (in shares) at Jun. 30, 2018			0	178,283,590
Beginning balance at Jun. 30, 2018	3,407,925	3,403,543	$ 0	$ 1,783	3,502,954	(125,606)	24,412	4,382
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	35,228	35,218				35,218		10
Other comprehensive income (loss)	1,945	1,945					1,945
Distributions to noncontrolling interests	(35)							(35)
Amortization of stock-based compensation	2,923	2,923			2,923
Common stock issuance, net (in shares)				1,385
Common dividends	(80,728)	(80,728)				(80,728)
Ending balance (in shares) at Sep. 30, 2018			0	178,284,975
Ending balance at Sep. 30, 2018	3,367,258	3,362,901	$ 0	$ 1,783	3,505,877	(171,116)	26,357	4,357
Beginning balance (in shares) at Dec. 31, 2018			0	178,306,528
Beginning balance at Dec. 31, 2018	3,254,747	3,250,414	$ 0	$ 1,783	3,507,925	(271,595)	12,301	4,333
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	29,277	29,255				29,255		22
Other comprehensive income (loss)	(31,696)	(31,696)					(31,696)
Buyout of noncontrolling interests	(200)	4,039			4,039			(4,239)
Distributions to noncontrolling interests	(116)							(116)
Amortization of stock-based compensation	10,474	10,474			10,474
Common stock issuance, net (in shares)				15,390,373
Common stock issuance, net	301,300	301,300		$ 154	301,146
Common dividends	(248,867)	(248,867)				(248,867)
Ending balance (in shares) at Sep. 30, 2019			0	193,696,901
Ending balance at Sep. 30, 2019	3,282,417	3,282,417	$ 0	$ 1,937	3,823,584	(523,709)	(19,395)	0
Beginning balance (in shares) at Jun. 30, 2019			0	189,515,024
Beginning balance at Jun. 30, 2019	3,260,376	3,256,098	$ 0	$ 1,895	3,725,971	(460,832)	(10,936)	4,278
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	23,286	23,282				23,282		4
Other comprehensive income (loss)	(8,459)	(8,459)					(8,459)
Buyout of noncontrolling interests	(200)	4,039			4,039			(4,239)
Distributions to noncontrolling interests	(43)							(43)
Amortization of stock-based compensation	3,930	3,930			3,930
Common stock issuance, net (in shares)				4,181,877
Common stock issuance, net	89,686	89,686		$ 42	89,644
Common dividends	(86,159)	(86,159)				(86,159)
Ending balance (in shares) at Sep. 30, 2019			0	193,696,901
Ending balance at Sep. 30, 2019	$ 3,282,417	$ 3,282,417	$ 0	$ 1,937	$ 3,823,584	$ (523,709)	$ (19,395)	$ 0

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	Aug. 07, 2019	May 08, 2019	Feb. 05, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Stockholders' Equity [Abstract]
Common dividends (in dollars per share)	$ 0.45	$ 0.45	$ 0.45	$ 0.45	$ 0.45	$ 1.35	$ 1.35

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities:
Net income	$ 29,277	$ 298,498
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	137,517	143,301
Amortization of above and below market lease intangibles, net	1,102	4,193
Non-cash interest income adjustments	(1,680)	(1,722)
Non-cash interest expense	7,846	7,548
Stock-based compensation expense	8,829	6,275
Non-cash lease termination income	(9,725)	0
Loss on extinguishment of debt	10,763	0
Straight-line rental income adjustments	(14,067)	(34,404)
Provision for doubtful accounts, straight-line rental income and loan losses	1,457	9,449
Net gain on sales of real estate	(1,216)	(142,445)
Impairment of real estate	119,102	1,413
Loss from unconsolidated joint venture	5,635	3,626
Distributions of earnings from unconsolidated joint venture	10,162	6,494
Changes in operating assets and liabilities:
Accounts receivable, prepaid expenses and other assets, net	(7,252)	(4,031)
Accounts payable and accrued liabilities	(20,769)	(15,171)
Net cash provided by operating activities	276,981	283,024
Cash flows from investing activities:
Acquisition of real estate	(14,977)	(239,001)
Origination and fundings of loans receivable	(9,441)	(41,448)
Origination and fundings of preferred equity investments	0	(5,285)
Additions to real estate	(15,985)	(21,695)
Repayments of loans receivable	13,761	48,282
Repayments of preferred equity investments	3,672	6,491
Investment in unconsolidated joint venture	0	(354,461)
Net proceeds from the sales of real estate	321,715	290,864
Buyout of noncontrolling interests	(200)	0
Net cash provided by (used in) investing activities	298,545	(316,253)
Cash flows from financing activities:
Net repayments of revolving credit facility	(424,000)	(22,000)
Proceeds from issuance of senior unsecured notes	297,039	0
Principal payments on senior unsecured notes	(500,000)	0
Principal payments on secured debt	(2,566)	(3,202)
Payments of deferred financing costs	(14,001)	(12)
Payments related to extinguishment of debt	(6,897)	0
Distributions to noncontrolling interests	(116)	(107)
Preferred stock redemption	0	(143,750)
Issuance of common stock, net	302,030	(499)
Dividends paid on common and preferred stock	(247,222)	(244,978)
Net cash used in financing activities	(595,733)	(414,548)
Net decrease in cash, cash equivalents and restricted cash	(20,207)	(447,777)
Effect of foreign currency translation on cash, cash equivalents and restricted cash	211	(156)
Cash, cash equivalents and restricted cash, beginning of period	59,658	587,449
Cash, cash equivalents and restricted cash, end of period	39,662	139,516
Supplemental disclosure of cash flow information:
Interest paid	$ 100,230	$ 111,519

BUSINESS

BUSINESS	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS	BUSINESS Overview Sabra Health Care REIT, Inc. (“Sabra” or the “Company”) was incorporated on May 10, 2010 as a wholly owned subsidiary of Sun Healthcare Group, Inc. (“Sun”) and commenced operations on November 15, 2010 following Sabra’s separation from Sun. Sabra elected to be treated as a real estate investment trust (“REIT”) with the filing of its United States (“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 U.S. 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 a wholly owned subsidiary of Sabra is currently the only limited partner, 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; preferred equity investments; and an investment in an unconsolidated joint venture. On August 17, 2017, pursuant to an Agreement and Plan of Merger (the “Merger Agreement”) entered into by 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, 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.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Basis of Presentation The accompanying condensed consolidated financial statements include the accounts of Sabra and its wholly owned subsidiaries as of September 30, 2019 and December 31, 2018 and for the three and nine month periods ended September 30, 2019 and 2018 . All significant intercompany transactions and balances have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC, including the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the unaudited condensed consolidated financial statements do not include all of the information and footnotes required by GAAP for financial statements. In the opinion of management, the financial statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair statement of the results for such periods. Operating results for the three and nine months ended September 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019 . For further information, refer to the Company’s consolidated financial statements and notes thereto for the year ended December 31, 2018 included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 filed with the SEC. GAAP requires the Company to identify entities for which control is achieved through voting rights or other means and to determine which business enterprise is the primary beneficiary of variable interest entities (“VIEs”). A VIE is broadly defined as an entity with one or more of the following characteristics: (a) the total equity investment at risk is insufficient to finance the entity’s activities without additional subordinated financial support; (b) as a group, the holders of the equity investment at risk lack (i) the ability to make decisions about the entity’s activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; or (c) the equity investors have voting rights that are not proportional to their economic interests, and substantially all of the entity’s activities either involve, or are conducted on behalf of, an investor that has disproportionately few voting rights. If the Company were determined to be the primary beneficiary of the VIE, the Company would consolidate investments in the VIE. The Company may change its original assessment of a VIE due to events such as modifications of contractual arrangements that affect the characteristics or adequacy of the entity’s equity investments at risk and the disposal of all or a portion of an interest held by the primary beneficiary. The Company identifies the primary beneficiary of a VIE as the enterprise that has both: (i) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance; and (ii) the obligation to absorb losses or the right to receive benefits of the VIE that could be significant to the entity. The Company performs this analysis on an ongoing basis. As of September 30, 2019 , the Company determined that it was no t the primarily beneficiary of any VIEs. 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 whether the loan investment should be accounted for as a loan or as a real estate joint venture. If an investment has the characteristics of a real estate joint venture, including if the Company participates in the majority of the borrower’s expected residual profit, the Company would account for the investment as an investment in a real estate joint venture and not as a loan investment. Expected residual profit is defined as the amount of profit, whether called interest or another name, such as an equity kicker, above a reasonable amount of interest and fees expected to be earned by a lender. At September 30, 2019 , none of the Company’s investments in loans were 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 September 30, 2019 , 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 condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. Reclassifications Certain amounts in the Company’s condensed consolidated statements of income for prior periods have been reclassified to conform to the current period presentation. These reclassifications have not changed the results of operations or stockholders’ equity of prior periods. Investment in Unconsolidated Joint Venture The Company reports investments in unconsolidated entities over whose operating and financial policies it has the ability to exercise significant influence under the equity method of accounting. Under this method of accounting, the Company’s share of the investee’s earnings or losses is included in the Company’s condensed consolidated statements of income. The initial carrying value of the investment is based on the amount paid to purchase the joint venture interest. Differences between the Company’s cost basis and the basis reflected at the joint venture level are generally amortized over the lives of the related assets and liabilities, and such amortization is included in the Company’s share of earnings of the joint venture. The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its equity method investments may not be recoverable or realized. When indicators of potential impairment are identified, the Company evaluates its equity method investments for impairment based on a comparison of the fair value of the investment to its carrying value. The fair value is estimated based on discounted cash flows that include all estimated cash inflows and outflows over a specified holding period and any estimated debt premiums or discounts. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of its equity method investment, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of its equity method investment. On January 2, 2018, the Company completed its transaction with affiliates of Enlivant and TPG Real Estate, the real estate platform of TPG, and contributed $352.7 million , before closing costs, to acquire a 49% equity interest in an entity that owned 172 senior housing communities managed by Enlivant (the “Enlivant Joint Venture”). At closing, the Enlivant Joint Venture had outstanding indebtedness of $791.3 million and net working capital of $22.9 million . The joint venture agreement includes an option for the Company to acquire the remainder of the outstanding equity interests in the Enlivant Joint Venture by January 2, 2021 and grants the Company the right of first offer if the Company’s partner in the Enlivant Joint Venture desires to transfer its equity interest (which it may do commencing on January 2, 2020). Sabra also has the right to designate three directors on the seven member board of directors of the Enlivant Joint Venture and has other customary minority rights. During the nine months ended September 30, 2019 , the Enlivant Joint Venture sold two senior housing communities for gross proceeds of $6.3 million , and the Company recorded an aggregate net loss on sale of real estate related to unconsolidated joint venture of $1.7 million . As of September 30, 2019 , the book value of the Company’s investment in the Enlivant Joint Venture was $324.3 million . Net Investment in Direct Financing Lease As of September 30, 2019 , the Company had a $23.8 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. The net investment in direct financing lease is recorded in accounts receivable, prepaid expenses and other assets, net on the accompanying condensed consolidated balance sheets and represents the total undiscounted rental payments of $4.4 million , plus the estimated unguaranteed residual value of $24.7 million , less the unearned lease income of $5.3 million as of September 30, 2019 . Unearned lease income represents the excess of the minimum lease payments and residual value 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 $0.7 million and $2.0 million for the three and nine months ended September 30, 2019 , respectively, and $0.6 million and $1.9 million for the three and nine months ended September 30, 2018 , respectively, and is reflected in interest and other income on the accompanying condensed consolidated statements of income. Future minimum lease payments contractually due under the direct financing lease at September 30, 2019 were as follows: $0.6 million for the remainder of 2019; $2.3 million for 2020; and $2.1 million for 2021. Recently Issued Accounting Standards Update Adopted In February 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-02, Leases, as amended by subsequent ASUs (“Topic 842”). Topic 842 supersedes guidance related to accounting for leases and provides for the recognition of lease assets and lease liabilities by lessees for those leases previously classified as operating leases under GAAP. The objective of Topic 842 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. Topic 842 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. Topic 842 is effective for fiscal years and interim periods within those years beginning after December 15, 2018, with early adoption permitted. The Company elected to adopt Topic 842 on January 1, 2019 using the modified retrospective transition method, which permits application of the new standard on the adoption date as opposed to the earliest comparative period presented in the financial statements. In addition, the Company elected to use the available practical expedient package, and therefore did not reassess classification of its existing leases. Additionally, the Company has elected a practical expedient not to separate lease and nonlease components (such as services rendered), which can only be applied to leasing arrangements for which (i) the timing and pattern of transfer are the same for the lease and nonlease components and (ii) the lease component, if accounted for separately, would be classified as an operating lease. Under this practical expedient, contracts that are predominantly lease-based would be accounted for under Topic 842, and contracts that are predominantly service-based would be accounted for under Topic 606, Revenue from Contracts with Customers. As a result of electing this practical expedient, the Company, beginning January 1, 2019, recognizes revenue from its leased skilled nursing/transitional care facilities, senior housing communities, and specialty hospitals and other facilities under Topic 842 and recognizes revenue from its Senior Housing - Managed communities under the Revenue ASUs (codified under Topic 606). Upon adoption of Topic 842, the Company recognized its operating leases for which it is the lessee, mainly its corporate office lease and ground leases, on its consolidated balance sheets, as a lease liability of $10.0 million , included in accounts payable and accrued liabilities on the condensed consolidated balance sheets, and a corresponding right-of-use asset, included in accounts receivable, prepaid expenses and other assets, net on the condensed consolidated balance sheets. As of September 30, 2019 , the balances of the lease liability and the corresponding right-of-use asset were $9.8 million and $9.4 million , respectively. The Company assesses the collectability of rental revenues on a lease-by-lease basis. Prior to the adoption of Topic 842, the Company recorded rental revenue and receivables to the extent those amounts were expected to be collected, irrespective of the Company’s determination of the collectability of substantially all rents over the life of a lease. Upon adoption of Topic 842, if at any time the Company cannot determine that it is probable that substantially all rents over the life of a lease are collectible, rental revenue will be recognized only to the extent of payments received and all receivables associated with the lease will be written off irrespective of amounts expected to be collectible. Upon adoption of Topic 842 and as of the adoption date, the Company recorded a $32.5 million reduction in equity and accounts receivable due to the cumulative effect of this change. This reduction consisted of $17.5 million of straight-line rental income receivables and $15.0 million of cash rent receivables, although management believes the $15.0 million of cash rent receivables are collectible. Any recoveries of these amounts will be recorded in future periods upon receipt of payment. Under Topic 842, future write-offs of receivables and any recoveries of previously written-off receivables will be recorded as adjustments to rental revenue. Furthermore, Topic 842 requires lessors to exclude from variable payments lessor costs paid by lessees directly to third parties. In contrast, lessor costs that are paid by the lessor and reimbursed by the lessee are included in the measurement of variable lease revenue and the associated expense. As a result, the Company recognized $4.0 million and $13.0 million of variable lease revenue and the associated expense during the three and nine months ended September 30, 2019 , respectively. Issued but Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 requires that a financial asset (or a group of financial assets) measured at amortized cost basis be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. The amendments in ASU 2016-13 are an improvement because they eliminate the probable initial recognition threshold under 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. In November 2018, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments—Credit Losses (“ASU 2018-19”), which amends ASU 2016-13 to clarify that receivables arising from operating leases are not within the scope of Subtopic 326-20, and instead, impairment of such receivables should be accounted for in accordance with Topic 842, Leases. ASU 2016-13 and ASU 2018-19 are 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 these updates 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 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). ASU 2018-13 updates the fair value measurement disclosure requirements by (i) eliminating certain requirements, including disclosure of the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, the policy for timing of transfers between levels and the valuation processes for Level 3 fair value measurements, (ii) modifying certain requirements, including clarifying that the measurement uncertainty disclosure is to communicate information about the uncertainty in measurement as of the reporting date and (iii) adding certain requirements, including disclosure of the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. ASU 2018-13 is effective for fiscal years and interim periods within those years beginning after December 15, 2019, with early adoption permitted for any eliminated or modified disclosures. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements when adopted.

RECENT REAL ESTATE ACQUISITIONS

RECENT REAL ESTATE ACQUISITIONS	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
RECENT REAL ESTATE ACQUISITIONS	RECENT REAL ESTATE ACQUISITIONS During the nine months ended September 30, 2019 , the Company acquired two specialty hospitals/other facilities. During the nine months ended September 30, 2018 , the Company acquired 11 Senior Housing - Managed communities, seven senior housing communities and two skilled nursing/transitional care facilities. The consideration was allocated as follows (in thousands): Nine Months Ended September 30, 2019 2018 Land $ 2,040 $ 28,089 Building and improvements 12,652 208,678 Tenant origination and absorption costs intangible assets 234 1,669 Tenant relationship intangible assets 51 565 Total consideration $ 14,977 $ 239,001 The tenant origination and absorption costs intangible assets and tenant relationship intangible assets had weighted-average amortization periods as of the respective dates of acquisition of 15 years and 25 years , respectively, for acquisitions completed during the nine months ended September 30, 2019 , and 13 years and 22 years , respectively, for the acquisitions completed during the nine months ended September 30, 2018 . For each of the three and nine months ended September 30, 2019 , the Company recognized $0.2 million of total revenues and $0.2 million of net income attributable to common stockholders from the facilities acquired during the nine months ended September 30, 2019 . For the three and nine months ended September 30, 2018 , the Company recognized $11.2 million and $31.5 million of total revenues, respectively, and $3.2 million and $9.3 million of net income attributable to common stockholders, respectively, from the facilities acquired during the nine months ended September 30, 2018 .

REAL ESTATE PROPERTIES HELD FOR

REAL ESTATE PROPERTIES HELD FOR INVESTMENT	9 Months Ended
	Sep. 30, 2019
Real Estate Investments, Net [Abstract]
REAL ESTATE PROPERTIES HELD FOR INVESTMENT	REAL ESTATE PROPERTIES HELD FOR INVESTMENT The Company’s real estate properties held for investment consisted of the following (dollars in thousands): As of September 30, 2019 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 304 33,879 $ 3,711,702 $ (285,138 ) $ 3,426,564 Senior Housing - Leased (1) 62 4,011 636,273 (72,716 ) 563,557 Senior Housing - Managed (1) 44 4,470 863,130 (101,426 ) 761,704 Specialty Hospitals and Other 24 1,193 635,928 (43,146 ) 592,782 434 43,553 5,847,033 (502,426 ) 5,344,607 Corporate Level 741 (351 ) 390 $ 5,847,774 $ (502,777 ) $ 5,344,997 As of December 31, 2018 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 335 37,628 $ 4,094,484 $ (224,942 ) $ 3,869,542 Senior Housing - Leased (1) 90 7,332 1,237,790 (125,902 ) 1,111,888 Senior Housing - Managed (1) 23 1,603 301,739 (19,537 ) 282,202 Specialty Hospitals and Other 22 1,085 621,236 (31,640 ) 589,596 470 47,648 6,255,249 (402,021 ) 5,853,228 Corporate Level 634 (317 ) 317 $ 6,255,883 $ (402,338 ) $ 5,853,545 (1) During the nine months ended September 30, 2019 , the Company transitioned 21 senior housing communities to its Senior Housing - Managed portfolio. September 30, 2019 December 31, 2018 Building and improvements $ 5,018,346 $ 5,388,102 Furniture and equipment 235,762 237,145 Land improvements 1,415 1,254 Land 592,251 629,382 5,847,774 6,255,883 Accumulated depreciation (502,777 ) (402,338 ) $ 5,344,997 $ 5,853,545 Operating Leases As of September 30, 2019 , the substantial majority of the Company’s real estate properties (excluding 44 Senior Housing - Managed communities) were leased under triple-net operating leases with expirations ranging from less than one year to 15 years . As of September 30, 2019 , the leases had a weighted-average remaining term of eight years . The leases generally 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 condensed consolidated balance sheets and totaled $7.9 million and $12.4 million as of September 30, 2019 and December 31, 2018 , respectively, and letters of credit deposited with the Company totaled approximately $83 million and $98 million as of September 30, 2019 and December 31, 2018 , respectively. In addition, the Company’s tenants have deposited with the Company $14.1 million and $17.5 million as of September 30, 2019 and December 31, 2018 , respectively, for future real estate taxes, insurance expenditures and tenant improvements related to the Company’s properties and their operations. On February 15, 2019, the Company entered into a settlement agreement with Senior Care Centers in connection with the notices of default and lease termination issued by the Company to Senior Care Centers during the third quarter of 2018. In accordance with the order entered by the bankruptcy court in March 2019, the settlement agreement provided for the discharge by the Company of its claims against Senior Care Centers in exchange for $9.5 million of settlement payments, a portion of which was applied to pay post-petition rent. The Company recorded $6.2 million of such post-petition rent during the nine months ended September 30, 2019 . On April 1, 2019, the Company completed the sale of 28 facilities ( 26 skilled nursing/transitional care facilities and two senior housing communities) previously operated by Senior Care Centers and received gross sales proceeds of $282.5 million . In connection with the sale, the Company entered into an agreement to indemnify the buyer from certain costs, expenses and liabilities related to the historical operations of the facilities by Senior Care Centers. In May 2019, the Company transitioned eight facilities previously operated by Senior Care Centers to a current operator in the Sabra portfolio, and the Company expects to sell the remaining two facilities previously operated by Senior Care Centers. During the nine months ended September 30, 2019 , the Company recorded an impairment charge of $95.2 million related to the Senior Care Centers facilities, which includes $10.2 million related to the Company’s estimated contractual indemnification obligations. On December 19, 2018, the Company entered into a letter of intent to terminate its triple-net master lease with Holiday Retirement (“Holiday”) with respect to all 21 senior housing communities subject to the master lease (the “Holiday Communities”) and concurrently enter into management agreements pursuant to which Holiday would manage the Holiday Communities. On April 1, 2019, the Company completed the conversion of the Holiday Communities to its Senior Housing - Managed portfolio and recognized lease termination income of $66.9 million , which includes a $57.2 million lease termination payment received in exchange for terminating the Holiday master lease and a $9.7 million gain related to the assumption of fixed assets net of liabilities. 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. As 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. For the three and nine months ended September 30, 2019 , no tenant relationship represented 10% or more of the Company’s total revenues. The future minimum rental payments from the Company’s properties held for investment under non-cancelable operating leases were as follows and may materially differ from actual future rental payments received (in thousands): As of September 30, 2019 October 1 through December 31, 2019 $ 109,663 2020 425,610 2021 422,465 2022 398,608 2023 381,472 Thereafter 2,023,764 $ 3,761,582 As of December 31, 2018 2019 $ 465,766 2020 456,207 2021 452,346 2022 454,216 2023 437,277 Thereafter 2,407,064 $ 4,672,876 Senior Housing - Managed Communities The Company’s Senior Housing - Managed communities offer residents certain ancillary services that are not contemplated in the lease with each resident (i.e., housekeeping, laundry, guest meals, etc.). These services are provided and paid for in addition to the standard services included in each resident lease (i.e., room and board, standard meals, etc.). The Company bills residents for ancillary services one month in arrears and recognizes revenue as the services are provided, as the Company has no continuing performance obligation related to those services. Resident fees and services includes ancillary service revenue of $0.2 million and $0.5 million for the three and nine months ended September 30, 2019 , respectively, and $0.1 million and $0.4 million for the three and nine months ended September 30, 2018 , respectively.

IMPAIRMENT OF REAL ESTATE AND D

IMPAIRMENT OF REAL ESTATE AND DISPOSITIONS	9 Months Ended
	Sep. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
IMPAIRMENT OF REAL ESTATE AND DISPOSITIONS	IMPAIRMENT OF REAL ESTATE AND DISPOSITIONS 2019 Impairment of Real Estate During the nine months ended September 30, 2019 , the Company recognized a $119.1 million real estate impairment, of which amount $95.2 million related to the 28 Senior Care Centers facilities sold on April 1, 2019 and three additional Senior Care Centers facilities, and the remaining $23.9 million related to five vacant skilled nursing/transitional care facilities and four senior housing communities. Dispositions During the nine months ended September 30, 2019 , the Company completed the sale of 31 skilled nursing/transitional care facilities and seven senior housing communities for aggregate consideration, net of closing costs, of $315.0 million . The net carrying value of the assets and liabilities of these facilities was $313.8 million , which resulted in an aggregate $1.2 million net gain on sale. Excluding the net gain on sale and real estate impairment, the Company recognized $2.8 million and $22.3 million of net income during the nine months ended September 30, 2019 and 2018 , 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. 2018 Impairment of Real Estate During the nine months ended September 30, 2018 , the Company recognized a $1.4 million real estate impairment, of which $0.5 million related to one senior housing community sold during the period. Dispositions During the nine months ended September 30, 2018 , the Company completed the sale of 36 skilled nursing/transitional care facilities and four senior housing communities for aggregate consideration, net of closing costs, of $290.9 million . The net carrying value of the assets and liabilities of these facilities was $148.5 million , which resulted in an aggregate $142.4 million net gain on sale. Excluding the net gain on sale and real estate impairment, the Company recognized $12.5 million and $24.9 million of net income during the nine months ended September 30, 2018 and 2017 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.

LOANS RECEIVABLE AND OTHER INVE

LOANS RECEIVABLE AND OTHER INVESTMENTS	9 Months Ended
	Sep. 30, 2019
Receivables [Abstract]
LOANS RECEIVABLE AND OTHER INVESTMENTS	LOANS RECEIVABLE AND OTHER INVESTMENTS As of September 30, 2019 and December 31, 2018 , the Company’s loans receivable and other investments consisted of the following (dollars in thousands): September 30, 2019 Investment Quantity as of September 30, 2019 Property Type Principal Balance as of September 30, 2019 (1) Book Value as of September 30, 2019 Book Value as of Weighted Average Contractual Interest Rate / Rate of Return Weighted Average Annualized Effective Interest Rate / Rate of Return Maturity Date as of September 30, 2019 Loans Receivable: Mortgage 1 Specialty Hospital $ 19,000 $ 19,000 $ 18,577 10.0 % 10.0 % 01/31/27 Construction 2 Senior Housing 5,884 5,935 4,629 8.0 % 7.7 % 10/14/19- 09/30/22 Mezzanine — Skilled Nursing — — 2,188 N/A N/A N/A Other 17 Multiple 43,602 39,673 45,324 6.7 % 7.1 % 09/23/19- 08/31/28 20 68,486 64,608 70,718 7.7 % 8.0 % Loan loss reserve — (783 ) (1,258 ) $ 68,486 $ 63,825 $ 69,460 Other Investments: Preferred Equity 9 Skilled Nursing / Senior Housing 44,005 44,417 44,262 12.0 % 12.0 % N/A Total 29 $ 112,491 $ 108,242 $ 113,722 9.4 % 9.6 % (1) Principal balance includes amounts funded and accrued but unpaid interest / preferred return and excludes capitalizable fees. As of September 30, 2019 and December 31, 2018 , the Company had six and seven loans receivable investments, respectively, with an aggregate principal balance of $2.8 million and $27.7 million , respectively, that were considered to have deteriorated credit quality. As of September 30, 2019 and December 31, 2018 , the book value of the outstanding loans with deteriorated credit quality was $1.2 million and $4.2 million , respectively. During the nine months ended September 30, 2019 , one loan with deteriorated credit quality was repaid. The following table presents changes in the accretable yield for the three and nine months ended September 30, 2019 and 2018 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Accretable yield, beginning of period $ 112 $ 1,081 $ 449 $ 2,483 Accretion recognized in earnings (53 ) (348 ) (357 ) (2,477 ) Reduction due to payoff — — (33 ) — Net reclassification from nonaccretable difference — — — 727 Accretable yield, end of period $ 59 $ 733 $ 59 $ 733 During the three months ended September 30, 2019 , the Company recorded no provision for specific loan losses, and during the nine months ended September 30, 2019 , the Company recorded a $1.2 million provision for specific loan losses. During the three and nine months ended September 30, 2019 , the Company increased its portfolio-based loan loss reserve by $0.1 million and $0.2 million , respectively. As of September 30, 2019 , the Company had no specific loan loss reserve and a $0.8 million portfolio-based loan loss reserve. As of September 30, 2019 , the Company did not consider any loans receivable investments to be impaired. As of September 30, 2019 , two loans receivable investments with no book value were on nonaccrual status. As of September 30, 2019 , the Company did not consider any preferred equity investments to be impaired, and no preferred equity investments were on nonaccrual status. As of December 31, 2018 , the Company had a $0.7 million specific loan loss reserve and a $0.6 million portfolio-based loan loss reserve. As of December 31, 2018 , the Company considered one loan receivable investment with a principal balance of $1.3 million to be impaired, and two loans receivable investments with an aggregate book value of $1.3 million were on nonaccrual status. Additionally, as of December 31, 2018 , the Company recognized interest income related to one loan receivable investment, with a book value of $4.3 million , that was more than 90 days past due. As of December 31, 2018 , the Company did not consider any preferred equity investments to be impaired, and no preferred equity investments were on nonaccrual status. During each of the three and nine months ended September 30, 2018 , the Company recorded a $0.6 million provision for specific loan losses, and during the three and nine months ended September 30, 2018 , the Company increased its portfolio-based loan loss reserve by $0.3 million and $0.6 million , respectively.

DEBT

DEBT	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
DEBT	DEBT Secured Indebtedness The Company’s secured debt consists of the following (dollars in thousands): Interest Rate Type Principal Balance as of (1) Principal Balance as of (1) Weighted Average (2) Maturity Date Fixed Rate $ 115,370 $ 117,464 3.67 % December 2021 - (1) Principal balance does not include deferred financing costs, net of $ 1.7 million and $1.8 million as of September 30, 2019 and December 31, 2018 , respectively. (2) Weighted average interest rate includes private mortgage insurance. Senior Unsecured Notes The Company’s senior unsecured notes consist of the following (dollars in thousands): Principal Balance as of Title Maturity Date September 30, 2019 (1) December 31, 2018 (1) 5.5% senior unsecured notes due 2021 (“2021 Notes”) February 1, 2021 $ — $ 500,000 5.375% senior unsecured notes due 2023 (“2023 Notes”) June 1, 2023 200,000 200,000 4.80% senior unsecured notes due 2024 (“2024 Notes”) June 1, 2024 300,000 — 5.125% senior unsecured notes due 2026 (“2026 Notes”) August 15, 2026 500,000 500,000 5.38% senior unsecured notes due 2027 (“2027 Notes”) May 17, 2027 100,000 100,000 $ 1,100,000 $ 1,300,000 (1) Principal balance does not include premium, net of $13.2 million and deferred financing costs, net of $6.7 million as of September 30, 2019 and does not include premium, net of $14.5 million and deferred financing costs, net of $7.1 million as of December 31, 2018 . The 2023 Notes were issued by the Operating Partnership and Sabra Capital Corporation, wholly owned subsidiaries of the Company (the “Issuers”). The 2023 Notes accrue interest at a rate of 5.375% per annum payable semiannually on June 1 and December 1 of each year. As discussed below, the 2023 Notes were redeemed in full on October 27, 2019 . On May 29, 2019 , the Issuers completed an underwritten public offering of $300.0 million aggregate principal amount of 2024 Notes. The net proceeds were $295.3 million after deducting underwriting discounts and other offering expenses. The net proceeds, together with borrowings under the Revolving Credit Facility (as defined below), were used to redeem the 2021 Notes as discussed below. The 2024 Notes accrue interest at a rate of 4.80% per annum payable semiannually on June 1 and December 1 of each year. The 2024 Notes are redeemable at the option of the Issuers, in whole or in part at any time and from time to time, prior to May 1, 2024, at a price equal to 100% of the principal amount, together with any accrued and unpaid interest to, but not including, the redemption date, plus a “make-whole” premium. The Issuers may also redeem the 2024 Notes on or after May 1, 2024, at a price equal to 100% of the principal amount, together with any accrued and unpaid interest to, but not including, the redemption date. Assuming the 2024 Notes are not redeemed, the 2024 Notes mature on June 1, 2024. Additionally, on May 29, 2019, the Issuers issued a notice of redemption for all $500.0 million aggregate principal amount outstanding of the 2021 Notes. On June 29, 2019 , the Issuers redeemed the 2021 Notes at a cash redemption price of 101.375% of the principal amount being redeemed, plus accrued and unpaid interest. The redemption resulted in $10.1 million of redemption related costs and write-offs for the nine months ended September 30, 2019 , including $6.9 million in payments made to noteholders and legal fees for early redemption and $3.2 million of write-offs associated with unamortized deferred financing and premium costs. These amounts are included in loss on extinguishment of debt on the accompanying condensed consolidated statements of income. On October 7, 2019 , the Issuers completed an underwritten public offering of $350.0 million aggregate principal amount of 3.90% senior unsecured notes due 2029 (the “2029 Notes”). The net proceeds were $340.5 million after deducting underwriting discounts and other offering expenses. A portion of the net proceeds was used to redeem all of the 2023 Notes as discussed below, and the remaining net proceeds were used to repay borrowings outstanding on the Revolving Credit Facility. The 2029 Notes accrue interest at a rate of 3.90% per annum payable semiannually on April 15 and October 15 of each year. The 2029 Notes are redeemable at the option of the Issuers, in whole or in part at any time and from time to time, prior to July 15, 2029, at a price equal to 100% of the principal amount, together with any accrued and unpaid interest to, but not including, the redemption date, plus a “make-whole” premium. The Issuers may also redeem the 2029 Notes on or after July 15, 2029, at a price equal to 100% of the principal amount, together with any accrued and unpaid interest to, but not including, the redemption date. Assuming the 2029 Notes are not redeemed, the 2029 Notes mature on October 15, 2029. On September 27, 2019, the Issuers issued a notice of redemption for all $200.0 million aggregate principal amount outstanding of the 2023 Notes. On October 27, 2019 , the Issuers redeemed the 2023 Notes at a cash redemption price of 101.792% of the principal amount being redeemed, plus accrued and unpaid interest. As a result of the redemption, the Company recognized $5.6 million of redemption related costs and write-offs, consisting of $3.6 million in payments made to noteholders and legal fees for early redemption and $2.0 million of write-offs associated with unamortized deferred financing costs, subsequent to September 30, 2019 . The 2026 Notes and the 2027 Notes were assumed as a result of the CCP Merger and accrue interest at a rate of 5.125% and 5.38% , respectively, per annum. Interest is payable semiannually on February 15 and August 15 of each year for the 2026 Notes and on May 17 and November 17 of each year for the 2027 Notes. As of September 30, 2019, the obligations under the 2023 Notes, 2024 Notes and 2027 Notes were fully and unconditionally guaranteed, jointly and severally, on an unsecured basis, by Sabra and certain subsidiaries of Sabra, and as of the issuance of the 2029 Notes on October 7, 2019 , the 2029 Notes were fully and unconditionally guaranteed on an unsecured basis by Sabra; provided, however, that such guarantees were subject to release under certain customary circumstances. Upon redemption of the 2023 Notes on October 27, 2019 , Sabra Capital Corporation’s obligations as a co-issuer under the 2024 Notes and the 2029 Notes were automatically released and discharged. In addition, following the redemption of the 2023 Notes, substantially all of the subsidiary guarantors under the 2024 Notes and the 2027 Notes were released; the 2024 Notes and 2027 Notes remain fully and unconditionally guaranteed, jointly and severally, on an unsecured basis, by Sabra and one of its non-operating subsidiaries, subject to release under certain customary circumstances. The obligations under the 2026 Notes and 2029 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 12, “Summarized Condensed Consolidating Information” for additional information concerning the circumstances pursuant to which the guarantors will be automatically and unconditionally released from their obligations under the guarantees. The indentures and agreements (the “Senior Notes Indentures”) governing the 2023 Notes, 2024 Notes, 2026 Notes and 2027 Notes (collectively, the “Senior Notes”) include customary events of default and require the Company to comply with specified restrictive covenants. As of September 30, 2019 , the Company was in compliance with all applicable financial covenants under the Senior Notes Indentures. Credit Agreement On August 17, 2017, the Operating Partnership and Sabra Canadian Holdings, LLC (together, the “Borrowers”), Sabra and the other parties thereto entered into a fourth amended and restated unsecured credit agreement (the “Prior Credit Agreement”). The Prior Credit Agreement included a $1.0 billion revolving credit facility (the “Prior Revolving Credit Facility”), $1.1 billion in U.S. dollar term loans and a CAD $125.0 million Canadian dollar term loan (collectively, the “Prior Term Loans”). Further, up to $175.0 million of the Prior Revolving Credit Facility could be used for borrowings in certain foreign currencies. The Prior Credit Agreement also contained an accordion feature that allowed for an increase in the total available borrowings to $2.5 billion , subject to terms and conditions. The Prior Revolving Credit Facility had a maturity date of August 17, 2021, and included two six -month extension options. $200.0 million of the U.S. dollar Prior Term Loans had a maturity date of August 17, 2020, and the other Prior Term Loans had a maturity date of August 17, 2022. Borrowings under the Prior Revolving Credit Facility bore 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) 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”). On August 17, 2017, Sabra’s ratings met the Investment Grade Ratings Criteria (as defined in the Prior Credit Agreement), and Sabra elected to use the ratings-based applicable interest margin for borrowings which varied based on the Debt Ratings, as defined in the Prior Credit Agreement, and ranged 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. In addition, the Operating Partnership paid a facility fee ranging between 0.125% and 0.300% per annum based on the aggregate amount of commitments under the Prior Revolving Credit Facility regardless of amounts outstanding thereunder. The U.S. dollar Prior Term Loans bore 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 varied based on the Debt Ratings, as defined in the Prior Credit Agreement, and ranged 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 Prior Term Loan bore interest on the outstanding principal amount at a rate equal to the Canadian Dollar Offered Rate (“CDOR”) plus an interest margin that ranged from 0.90% to 1.90% depending on the Debt Ratings. On September 9, 2019, the Borrowers, Sabra and the other parties thereto entered into a fifth amended and restated unsecured credit agreement (the “Credit Agreement”). The Credit Agreement amends and restates the Prior Credit Agreement. The Company recognized a $0.6 million loss on extinguishment of debt related to write-offs of unamortized deferred financing costs in connection with amending and restating the Prior Credit Agreement during the three and nine months ended September 30, 2019 . The Credit Agreement 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 Agreement also contains an accordion feature that can increase the total available borrowings to $2.75 billion , subject to terms and conditions. The Revolving Credit Facility has a maturity date of September 9, 2023, and includes two six -month extension options. $250.0 million of the U.S. dollar Term Loans has a maturity date of September 9, 2022, $350.0 million of the U.S. dollar Term Loans has a maturity date of September 9, 2023, and the other Term Loans have a maturity date of September 9, 2024. As of September 30, 2019 , there was $200.0 million outstanding under the Revolving Credit Facility and $800.0 million available for borrowing. Borrowings under the Revolving Credit Facility bear interest on the outstanding principal amount at a rate equal to a ratings-based 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 0.775% to 1.45% per annum for LIBOR based borrowings and 0.00% to 0.45% per annum for borrowings at the Base Rate. As of September 30, 2019 , the interest rate on the Revolving Credit Facility was 3.17% . 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 a ratings-based 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 and will range from 0.85% to 1.65% per annum for LIBOR based borrowings and 0.00% to 0.65% 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 ranges from 0.85% to 1.65% 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% . See Note 8, “Derivative and Hedging Instruments” for further information. As a result of the CCP Merger, 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 8, “Derivative and Hedging Instruments” for further information. As of September 30, 2019, the obligations of the Borrowers under the Credit Agreement were guaranteed by Sabra and certain subsidiaries of Sabra. Following the redemption of the 2023 Notes on October 27, 2019 , substantially all of the subsidiary guarantors under the Credit Agreement were released; the Credit Agreement remains fully and unconditionally guaranteed, jointly and severally, on an unsecured basis, by Sabra and one of its non-operating subsidiaries, subject to release under certain customary circumstances. The Credit Agreement contains customary covenants that include restrictions or limitations on the ability to 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 Agreement also requires Sabra, through the Operating Partnership, to comply with specified financial covenants, which include a maximum total leverage ratio, a minimum secured debt leverage ratio, a minimum fixed charge coverage ratio, a maximum unsecured leverage ratio, a minimum tangible net worth requirement and a minimum unsecured interest coverage ratio. As of September 30, 2019 , the Company was in compliance with all applicable financial covenants under the Credit Agreement. Interest Expense The Company incurred interest expense of $29.3 million and $99.2 million during the three and nine months ended September 30, 2019 , respectively, and $37.3 million and $109.9 million during the three and nine months ended September 30, 2018 , respectively. Interest expense includes non-cash interest expense of $2.5 million and $7.8 million for the three and nine months ended September 30, 2019 , respectively, and $2.6 million and $7.5 million for the three and nine months ended September 30, 2018 , respectively. As of September 30, 2019 and December 31, 2018 , the Company had $15.1 million and $24.0 million , respectively, of accrued interest included in accounts payable and accrued liabilities on the accompanying condensed consolidated balance sheets. Maturities The following is a schedule of maturities for the Company’s outstanding debt as of September 30, 2019 (in thousands): Secured Indebtedness Revolving Credit Facility (1) Term Loans Senior Notes Total October 1 through December 31, 2019 $ 869 $ — $ — $ — $ 869 2020 3,545 — — — 3,545 2021 18,573 — — — 18,573 2022 3,185 — 250,000 — 253,185 2023 3,282 200,000 350,000 200,000 753,282 Thereafter 85,916 — 594,400 900,000 1,580,316 Total Debt 115,370 200,000 1,194,400 1,100,000 2,609,770 Premium, net — — — 13,188 13,188 Deferred financing costs, net (1,726 ) — (11,417 ) (6,704 ) (19,847 ) Total Debt, Net $ 113,644 $ 200,000 $ 1,182,983 $ 1,106,484 $ 2,603,111 (1) Revolving Credit Facility is subject to two six -month extension options.

DERIVATIVE AND HEDGING INSTRUME

DERIVATIVE AND HEDGING INSTRUMENTS	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE AND HEDGING INSTRUMENTS	DERIVATIVE AND HEDGING INSTRUMENTS The Company is exposed to various market risks, including the potential loss arising from adverse changes in interest rates and foreign exchange rates. The Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates and foreign exchange rates. The Company’s derivative financial instruments are used to manage differences in the amount of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s investments and borrowings. Certain of the Company’s foreign operations expose the Company to fluctuations of foreign interest rates and exchange rates. These fluctuations may impact the value in the Company’s functional currency, the U.S. dollar, of the Company’s investment in foreign operations, the cash receipts and payments related to these foreign operations and payments of interest and principal under Canadian dollar denominated debt. The Company enters into derivative financial instruments to protect the value of its foreign investments and fix a portion of the interest payments for certain debt obligations. The Company does not enter into derivatives for speculative purposes. Cash Flow Hedges The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish these objectives, the Company primarily uses interest rate swaps and collars as part of its interest rate risk management strategy. In May 2019, the Company terminated three forward starting interest rate swaps, resulting in a payment to counterparties totaling $12.6 million . The balance of the loss in other comprehensive income will be reclassified to earnings through 2029. As of September 30, 2019 , approximately $1.4 million of gains, which are included in accumulated other comprehensive income, are expected to be reclassified into earnings in the next 12 months. Net Investment Hedges The Company is exposed to fluctuations in foreign exchange rates on investments it holds in 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 derivative instruments as of the dates indicated (in thousands): September 30, 2019 December 31, 2018 Derivatives designated as cash flow hedges: Denominated in U.S. Dollars (1) $ 1,490,000 $ 1,045,000 Denominated in Canadian Dollars $ 125,000 $ 125,000 Derivatives designated as net investment hedges: Denominated in Canadian Dollars $ 54,676 $ 55,401 Financial instrument designated as net investment hedge: Denominated in Canadian Dollars $ 125,000 $ 125,000 Derivatives not designated as net investment hedges: Denominated in Canadian Dollars $ 1,624 $ 899 (1) Balance includes four forward starting interest rate swaps and one forward starting interest rate collar with an effective date of August 2020 and two forward starting interest rate swaps and one forward starting interest rate collar with an effective date of January 2021 that were entered into as of September 30, 2019 . The forward starting interest rate swaps and forward starting interest rate collars have an aggregate initial notional amount of $645.0 million accreting to $845.0 million in January 2023. Derivative and Financial Instruments Designated as Hedging Instruments The following is a summary of the derivative and financial instruments designated as hedging instruments held by the Company at September 30, 2019 and December 31, 2018 (dollars in thousands): Count as of September 30, 2019 Fair Value Maturity Dates Type Designation September 30, 2019 December 31, 2018 Balance Sheet Location Assets: Interest rate swaps Cash flow 7 $ 4,617 $ 25,184 2020 - 2023 Accounts receivable, prepaid expenses and other assets, net Cross currency interest rate swaps Net investment 2 4,068 4,160 2025 Accounts receivable, prepaid expenses and other assets, net $ 8,685 $ 29,344 Liabilities: Interest rate swaps Cash flow 3 $ 367 $ — 2023 Accounts payable and accrued liabilities Forward starting interest rate swaps Cash flow 6 6,267 4,529 2024 Accounts payable and accrued liabilities Forward starting interest rate collars Cash flow 2 844 — 2024 Accounts payable and accrued liabilities CAD term loan Net investment 1 94,400 91,700 2024 Term loans, net $ 101,878 $ 96,229 The following presents the effect of the Company’s derivative and financial instruments designated as hedging instruments on the condensed consolidated statements of income and the condensed consolidated statements of equity for the three and nine months ended September 30, 2019 and 2018 (in thousands): (Loss) Gain Recognized in Other Comprehensive (Loss) Income Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Income Statement Location Cash Flow Hedges: Interest rate products $ (8,196 ) $ 2,954 $ (27,933 ) $ 16,091 Interest expense Net Investment Hedges: Foreign currency products 1,273 (688 ) (3 ) 817 N/A CAD term loan 1,088 (1,725 ) (2,700 ) 2,700 N/A $ (5,835 ) $ 541 $ (30,636 ) $ 19,608 Gain Reclassified from Accumulated Other Comprehensive Income into Income Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Income Statement Location Cash Flow Hedges: Interest rate products $ 1,173 $ 1,001 $ 4,781 $ 1,584 Interest expense The gain in the table above related to interest rate products was reclassified from accumulated other comprehensive income into interest expense. Interest expense totaled $29.3 million and $99.2 million for the three and nine months ended September 30, 2019 , respectively, and $37.3 million and $109.9 million for the three and nine months ended September 30, 2018 , respectively. During the three and nine months ended September 30, 2019 and 2018 , no cash flow hedges were determined to be ineffective. Derivatives Not Designated as Hedging Instruments As of September 30, 2019 , the Company had one outstanding cross currency interest rate swap, of which a portion was not designated as a hedging instrument, in an asset position with a fair value of $118,000 and included this amount in accounts receivable, prepaid expenses and other assets, net on the condensed consolidated balance sheets. During the three and nine months ended September 30, 2019 , the Company recorded $38,000 and $31,000 , respectively, of other income related to this portion of the derivative not designated as a hedging instrument. During each of the three and nine months ended September 30, 2018 , the Company recorded $11,000 of other expense related to a portion of a cross currency interest rate swap not designated as a hedging instrument. Offsetting Derivatives The Company enters into master netting arrangements, which reduce credit risk by permitting net settlement of transactions with the same counterparty. The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of September 30, 2019 and December 31, 2018 (in thousands): As of September 30, 2019 Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 8,684 $ — $ 8,684 $ (4,106 ) $ — $ 4,578 Offsetting Liabilities: Derivatives $ 7,478 $ — $ 7,478 $ (4,106 ) $ — $ 3,372 As of December 31, 2018 Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 29,344 $ — $ 29,344 $ (2,069 ) $ — $ 27,275 Offsetting Liabilities: Derivatives $ 4,529 $ — $ 4,529 $ (2,069 ) $ — $ 2,460 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 September 30, 2019 , the fair value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $3.6 million . As of September 30, 2019 , the Company has not posted any collateral related to these agreements. If the Company had breached any of these provisions at September 30, 2019 , it could have been required to settle its obligations under the agreements at their termination value of $3.4 million .

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	9 Months Ended
	Sep. 30, 2019
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 Agreement 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 condensed 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 condensed 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 investments, the underlying collateral value and other credit enhancements. As such, the Company classifies these instruments as Level 3. Derivative instruments : The Company’s derivative instruments are presented at fair value on the accompanying condensed consolidated balance sheets. The Company estimates the fair value of derivative instruments, including its interest rate 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 condensed consolidated balance sheets at their outstanding principal balance, net of unamortized deferred financing costs and premiums/discounts and not at fair value. The fair values of the Senior Notes were determined using third-party market quotes derived from orderly trades. As such, the Company classifies these instruments as Level 2. Secured indebtedness : These instruments are presented on the accompanying condensed consolidated balance sheets at their outstanding principal balance, net of unamortized deferred financing costs and premiums/discounts and not at fair value. The fair values of the Company’s 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 September 30, 2019 and December 31, 2018 whose carrying amounts do not approximate their fair value (in thousands): September 30, 2019 December 31, 2018 Face (1) Carrying Amount (2) Fair Value Face (1) Carrying (2) Fair Value Financial assets: Loans receivable $ 68,486 $ 63,825 $ 61,008 $ 96,492 $ 69,460 $ 65,797 Preferred equity investments 44,005 44,417 44,753 43,851 44,262 43,825 Financial liabilities: Senior Notes 1,100,000 1,106,484 1,166,203 1,300,000 1,307,394 1,270,877 Secured indebtedness 115,370 113,644 110,579 117,464 115,679 101,820 (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 September 30, 2019 whose carrying amounts do not approximate their fair value with valuation methods utilizing the following types of inputs (in thousands): Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Financial assets: Loans receivable $ 61,008 $ — $ — $ 61,008 Preferred equity investments 44,753 — — 44,753 Financial liabilities: Senior Notes 1,166,203 — 1,166,203 — Secured indebtedness 110,579 — — 110,579 Disclosure of the fair value of financial instruments is based on pertinent information available to the Company at the applicable dates and requires a significant amount of judgment. Despite increased capital market and credit market activity, transaction volume for certain financial instruments remains relatively low. This has made the estimation of fair values difficult and, therefore, both the actual results and the Company’s estimate of fair value at a future date could be materially different. Items Measured at Fair Value on a Recurring Basis During the nine months ended September 30, 2019 , the Company recorded the following amounts measured at fair value (in thousands): Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Recurring Basis: Financial assets: Interest rate swaps $ 4,617 $ — $ 4,617 $ — Cross currency interest rate swaps 4,068 — 4,068 — Financial liabilities: Interest rate swaps 367 — 367 — Forward starting interest rate swaps 6,267 — 6,267 — Forward starting interest rate collars 844 — 844 —

EQUITY

EQUITY	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
EQUITY	EQUITY Preferred Stock On March 21, 2013, the Company completed an underwritten public offering of 5,750,000 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 redeemed all 5,750,000 shares of its Series A Preferred Stock on June 1, 2018 (the “Redemption Date”) for $25.00 per share, plus accrued and unpaid dividends to, but not including, the Redemption Date, without interest, in the amount of $0.4453125 per share of Series A Preferred Stock, for a total redemption price per share of Series A Preferred Stock equal to $25.4453125 . As a result of the redemption, the Company incurred a charge of $5.5 million related to the original issuance costs of the Series A Preferred Stock during the three months ended June 30, 2018. Common Stock On February 25, 2019, the Company entered into an equity distribution agreement (the “Distribution Agreement”) with a consortium of banks acting as sales agents (the “Sales Agents”) to sell shares of its common stock having aggregate gross proceeds of up to $500.0 million from time to time through the Sales Agents (the “ATM Program”). Pursuant to the terms of the Distribution Agreement, the shares may be sold by any method permitted by law deemed to be an “at-the-market” offering, including, without limitation, sales made directly on the Nasdaq Global Select Market, on any other existing trading market for the Company’s common stock or to or through a market maker (which may include block transactions). In addition, with the Company’s prior consent, the Sales Agents may also sell the shares in privately negotiated transactions. The Company will pay each Sales Agent a commission of up to 1.5% of the gross proceeds from the sales of shares sold pursuant to the Distribution Agreement. The offering of shares pursuant to the Distribution Agreement will terminate upon the earlier of (i) the sale of the maximum aggregate amount of the shares subject to the Distribution Agreement, or (ii) the termination of the Distribution Agreement as permitted therein. The offering of shares pursuant to the Distribution Agreement may also be suspended as permitted therein. During the three months ended September 30, 2019 , the Company sold 4.2 million shares under the ATM Program at an average price of $21.82 per share, generating gross proceeds of $91.2 million , before $1.3 million of commissions. During the nine months ended September 30, 2019 , the Company sold 15.3 million shares under the ATM Program at an average price of $20.20 per share, generating gross proceeds of $308.5 million , before $4.6 million of commissions. As of September 30, 2019 , the Company had $191.5 million available under the ATM Program. The following table lists the cash dividends on common stock declared and paid by the Company during the nine months ended September 30, 2019 : Declaration Date Record Date Amount Per Share Dividend Payable Date February 5, 2019 February 15, 2019 $ 0.45 February 28, 2019 May 8, 2019 May 20, 2019 $ 0.45 May 31, 2019 August 7, 2019 August 20, 2019 $ 0.45 August 30, 2019 During the nine months ended September 30, 2019 , the Company issued 115,572 shares of common stock as a result of restricted stock unit vestings. Upon any payment of shares to employees as a result of restricted stock unit vestings, the employees’ 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 nine months ended September 30, 2019 and 2018 , the Company incurred $1.3 million and $0.2 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 (Loss) Income The following is a summary of the Company’s accumulated other comprehensive (loss) income (in thousands): September 30, 2019 December 31, 2018 Foreign currency translation loss $ (1,269 ) $ (2,193 ) Unrealized (loss) gain on cash flow hedges (18,126 ) 14,494 Total accumulated other comprehensive (loss) income $ (19,395 ) $ 12,301

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	EARNINGS PER COMMON SHARE The following table illustrates the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2019 and 2018 (in thousands, except share and per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Numerator Net income attributable to common stockholders $ 23,282 $ 35,218 $ 29,255 $ 288,708 Denominator Basic weighted average common shares and common equivalents 190,650,400 178,317,769 183,578,254 178,309,127 Dilutive restricted stock units 1,301,989 623,444 1,120,157 420,726 Diluted weighted average common shares 191,952,389 178,941,213 184,698,411 178,729,853 Net income attributable to common stockholders, per: Basic common share $ 0.12 $ 0.20 $ 0.16 $ 1.62 Diluted common share $ 0.12 $ 0.20 $ 0.16 $ 1.62 During the three months ended September 30, 2019 , no restricted stock units were considered anti-dilutive, and during the nine months ended September 30, 2019 , approximately 430 restricted stock units were not included in computing diluted earnings per share because they were considered anti-dilutive. During the three months ended September 30, 2018 , no restricted stock units were considered anti-dilutive, and during the nine months ended September 30, 2018 , approximately 20,500 restricted stock units were not included in computing diluted earnings per share because they were considered anti-dilutive. No stock options were outstanding as of September 30, 2019 , and no stock options were considered anti-dilutive during the three and nine months ended September 30, 2018 .

SUMMARIZED CONDENSED CONSOLIDAT

SUMMARIZED CONDENSED CONSOLIDATING INFORMATION	9 Months Ended
	Sep. 30, 2019
Summarized Condensed Consolidating Information [Abstract]
SUMMARIZED CONDENSED CONSOLIDATING INFORMATION	SUMMARIZED CONDENSED CONSOLIDATING INFORMATION In connection with the offerings of the 2023 Notes and the 2024 Notes by the Issuers, the Company and certain 100% owned subsidiaries of the Company (the “Guarantors”), jointly and severally, fully and unconditionally guaranteed the 2023 Notes and the 2024 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, 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 2023 Notes and the 2024 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 2023 Notes or the 2024 Notes or another Guarantor, provided that the surviving entity remains a Guarantor; • With respect to the 2023 Notes, a subsidiary Guarantor is declared “unrestricted” for covenant purposes under the indenture governing the 2023 Notes; • The requirements for legal defeasance or covenant defeasance or to discharge the indentures governing the 2023 Notes or the 2024 Notes have been satisfied; • A liquidation or dissolution, to the extent permitted under the indentures governing the 2023 Notes or the 2024 Notes, of a subsidiary Guarantor; • 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; or • With respect to the 2024 Notes, if the subsidiary Guarantor is not a guarantor or is not otherwise liable in respect of any obligations under any credit facility (as defined in the indenture governing the 2024 Notes) of the Company or any of its subsidiaries. On October 7, 2019 , the Issuers completed the offering of the 2029 Notes. Upon redemption of the 2023 Notes on October 27, 2019 , Sabra Capital Corporation’s obligations as a co-issuer under the 2024 Notes and the 2029 Notes were automatically released and discharged. In addition, following the redemption of the 2023 Notes, substantially all of the subsidiary guarantors under the 2024 Notes were released; the 2024 Notes remain fully and unconditionally guaranteed, jointly and severally, on an unsecured basis, by the Company and one of its non-operating subsidiaries, subject to release under certain customary circumstances. The 2029 Notes are fully and unconditionally guaranteed, on an unsecured basis, by the Company, subject to release under certain customary circumstances. 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 condensed 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 2023 Notes and the 2024 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 condensed consolidating statement of cash flows. Condensed 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: CONDENSED CONSOLIDATING BALANCE SHEET September 30, 2019 (in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Assets Real estate investments, net of accumulated depreciation $ 390 $ — $ — $ 1,417,907 $ 3,926,700 $ — $ 5,344,997 Loans receivable and other investments, net (783 ) — — 55,935 53,090 — 108,242 Investment in unconsolidated joint venture — — — — 324,324 — 324,324 Cash and cash equivalents 21,369 — — 2,607 5,455 — 29,431 Restricted cash — — — 1,860 8,371 — 10,231 Lease intangible assets, net — — — 9,029 95,948 — 104,977 Accounts receivable, prepaid expenses and other assets, net 3,693 21,559 — 27,396 100,698 (7,545 ) 145,801 Intercompany 1,992,202 1,946,790 — — — (3,938,992 ) — Investment in subsidiaries 1,298,119 1,748,807 — 33,358 — (3,080,284 ) — Total assets $ 3,314,990 $ 3,717,156 $ — $ 1,548,092 $ 4,514,586 $ (7,026,821 ) $ 6,068,003 Liabilities Secured debt, net $ — $ — $ — $ — $ 113,644 $ — $ 113,644 Revolving credit facility — 200,000 — — — — 200,000 Term loans, net — 1,089,805 — 93,178 — — 1,182,983 Senior unsecured notes, net — 1,106,484 — — — — 1,106,484 Accounts payable and accrued liabilities 32,573 22,748 — 2,182 59,443 (7,545 ) 109,401 Lease intangible liabilities, net — — — — 73,074 — 73,074 Intercompany — — — 659,890 3,279,102 (3,938,992 ) — Total liabilities 32,573 2,419,037 — 755,250 3,525,263 (3,946,537 ) 2,785,586 Total equity 3,282,417 1,298,119 — 792,842 989,323 (3,080,284 ) 3,282,417 Total liabilities and equity $ 3,314,990 $ 3,717,156 $ — $ 1,548,092 $ 4,514,586 $ (7,026,821 ) $ 6,068,003 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2018 (in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Assets Real estate investments, net of accumulated depreciation $ 317 $ — $ — $ 1,453,451 $ 4,399,777 $ — $ 5,853,545 Loans receivable and other investments, net (560 ) — — 50,534 63,748 — 113,722 Investment in unconsolidated joint venture — — — — 340,120 — 340,120 Cash and cash equivalents 40,835 — — 3,508 5,887 — 50,230 Restricted cash — — — 1,820 7,608 — 9,428 Lease intangible assets, net — — — 13,947 117,150 — 131,097 Accounts receivable, prepaid expenses and other assets, net 798 37,075 — 58,704 81,603 (11,019 ) 167,161 Intercompany 1,972,059 2,646,669 — — — (4,618,728 ) — Investment in subsidiaries 1,258,715 1,629,795 — 33,083 — (2,921,593 ) — Total assets $ 3,272,164 $ 4,313,539 $ — $ 1,615,047 $ 5,015,893 $ (7,551,340 ) $ 6,665,303 Liabilities Secured debt, net $ — $ — $ — $ — $ 115,679 $ — $ 115,679 Revolving credit facility — 624,000 — — — — 624,000 Term loans, net — 1,094,177 — 90,753 — — 1,184,930 Senior unsecured notes, net — 1,307,394 — — — — 1,307,394 Accounts payable and accrued liabilities 21,750 29,253 — 2,570 52,273 (11,019 ) 94,827 Lease intangible liabilities, net — — — — 83,726 — 83,726 Intercompany — — — 810,394 3,808,334 (4,618,728 ) — Total liabilities 21,750 3,054,824 — 903,717 4,060,012 (4,629,747 ) 3,410,556 Total Sabra Health Care REIT, Inc. stockholders’ equity 3,250,414 1,258,715 — 711,330 951,548 (2,921,593 ) 3,250,414 Noncontrolling interests — — — — 4,333 — 4,333 Total equity 3,250,414 1,258,715 — 711,330 955,881 (2,921,593 ) 3,254,747 Total liabilities and equity $ 3,272,164 $ 4,313,539 $ — $ 1,615,047 $ 5,015,893 $ (7,551,340 ) $ 6,665,303 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Three Months Ended September 30, 2019 (dollars in thousands, except per share amounts) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Revenues: Rental and related revenues $ — $ — $ — $ 24,947 $ 94,602 $ (9,445 ) $ 110,104 Interest and other income 47 1,863 — 1,355 1,924 (1,864 ) 3,325 Resident fees and services — — — — 36,405 — 36,405 Total revenues 47 1,863 — 26,302 132,931 (11,309 ) 149,834 Expenses: Depreciation and amortization 11 — — 11,692 31,389 — 43,092 Interest — 27,275 — 2,665 1,179 (1,864 ) 29,255 Triple-net portfolio operating expenses — — — 657 4,954 — 5,611 Senior housing - managed portfolio operating expenses — — — — 33,424 (9,445 ) 23,979 General and administrative 8,010 91 — 274 334 — 8,709 Provision for doubtful accounts, straight-line rental income and loan losses 57 — — — — — 57 Impairment of real estate — — — 10,835 3,131 — 13,966 Total expenses 8,078 27,366 — 26,123 74,411 (11,309 ) 124,669 Other (expense) income: Loss on extinguishment of debt (598 ) (2 ) — (44 ) — — (644 ) Other income (expense) — 205 — (167 ) 177 — 215 Net loss on sales of real estate — — — — (19 ) — (19 ) Total other (expense) income (598 ) 203 — (211 ) 158 — (448 ) Income in subsidiary 32,182 57,482 — 1,696 — (91,360 ) — Income before loss from unconsolidated joint venture and income tax expense 23,553 32,182 — 1,664 58,678 (91,360 ) 24,717 Loss from unconsolidated joint venture — — — — (605 ) — (605 ) Income tax expense (271 ) — — (133 ) (422 ) — (826 ) Net income 23,282 32,182 — 1,531 57,651 (91,360 ) 23,286 Net income attributable to noncontrolling interests — — — — (4 ) — (4 ) Net income attributable to common stockholders $ 23,282 $ 32,182 $ — $ 1,531 $ 57,647 $ (91,360 ) $ 23,282 Net income attributable to common stockholders, per: Basic common share $ 0.12 Diluted common share $ 0.12 Weighted-average number of common shares outstanding, basic 190,650,400 Weighted-average number of common shares outstanding, diluted 191,952,389 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Three Months Ended September 30, 2018 (dollars in thousands, except per share amounts) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Revenues: Rental and related revenues $ — $ — $ — $ 35,204 $ 99,566 $ (4,303 ) $ 130,467 Interest and other income 33 95 — 1,434 2,465 (95 ) 3,932 Resident fees and services — — — — 17,403 — 17,403 Total revenues 33 95 — 36,638 119,434 (4,398 ) 151,802 Expenses: Depreciation and amortization 221 — — 12,634 35,613 — 48,468 Interest — 33,892 — 846 2,662 (95 ) 37,305 Senior housing - managed portfolio operating expenses — — — — 16,914 (4,303 ) 12,611 General and administrative 7,084 24 — 636 429 — 8,173 (Recovery of) provision for doubtful accounts, straight-line rental income and loan losses (1,699 ) — — 4,315 6,294 — 8,910 Total expenses 5,606 33,916 — 18,431 61,912 (4,398 ) 115,467 Other (expense) income: Other (expense) income — (11 ) — (70 ) 1,417 — 1,336 Net (loss) gain on sales of real estate — — — (1,136 ) 1,150 — 14 Total other (expense) income — (11 ) — (1,206 ) 2,567 — 1,350 Income in subsidiary 41,283 75,115 — 1,924 — (118,322 ) — Income before loss from unconsolidated joint venture and income tax expense 35,710 41,283 — 18,925 60,089 (118,322 ) 37,685 Loss from unconsolidated joint venture — — — — (1,725 ) — (1,725 ) Income tax expense (492 ) — — (200 ) (40 ) — (732 ) Net income 35,218 41,283 — 18,725 58,324 (118,322 ) 35,228 Net income attributable to noncontrolling interests — — — — (10 ) — (10 ) Net income attributable to common stockholders $ 35,218 $ 41,283 $ — $ 18,725 $ 58,314 $ (118,322 ) $ 35,218 Net income attributable to common stockholders, per: Basic common share $ 0.20 Diluted common share $ 0.20 Weighted-average number of common shares outstanding, basic 178,317,769 Weighted-average number of common shares outstanding, diluted 178,941,213 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Nine Months Ended September 30, 2019 (dollars in thousands, except per share amounts) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Revenues: Rental and related revenues $ — $ — $ — $ 84,344 $ 278,138 $ (23,191 ) $ 339,291 Interest and other income 167 3,855 — 70,784 6,194 (3,855 ) 77,145 Resident fees and services — — — — 89,537 — 89,537 Total revenues 167 3,855 — 155,128 373,869 (27,046 ) 505,973 Expenses: Depreciation and amortization 35 — — 38,934 98,548 — 137,517 Interest — 93,165 — 6,234 3,637 (3,855 ) 99,181 Triple-net portfolio operating expenses — — — 1,827 15,313 — 17,140 Senior housing - managed portfolio operating expenses — — — — 83,449 (23,191 ) 60,258 General and administrative 23,247 153 — 550 1,002 — 24,952 Provision for doubtful accounts, straight-line rental income and loan losses 223 — — — 1,234 — 1,457 Impairment of real estate — — — 10,835 108,267 — 119,102 Total expenses 23,505 93,318 — 58,380 311,450 (27,046 ) 459,607 Other (expense) income: Loss on extinguishment of debt (598 ) (10,121 ) — (44 ) — — (10,763 ) Other (expense) income — (403 ) — 434 354 — 385 Net (loss) gain on sales of real estate — — — (179 ) 1,395 — 1,216 Total other (expense) income (598 ) (10,524 ) — 211 1,749 — (9,162 ) Income in subsidiary 53,810 153,798 — 5,056 — (212,664 ) — Income before loss from unconsolidated joint venture and income tax expense 29,874 53,811 — 102,015 64,168 (212,664 ) 37,204 Loss from unconsolidated joint venture — — — — (5,635 ) — (5,635 ) Income tax expense (619 ) (1 ) — (780 ) (892 ) — (2,292 ) Net income 29,255 53,810 — 101,235 57,641 (212,664 ) 29,277 Net income attributable to noncontrolling interests — — — — (22 ) — (22 ) Net income attributable to common stockholders $ 29,255 $ 53,810 $ — $ 101,235 $ 57,619 $ (212,664 ) $ 29,255 Net income attributable to common stockholders, per: Basic common share $ 0.16 Diluted common share $ 0.16 Weighted-average number of common shares outstanding, basic 183,578,254 Weighted-average number of common shares outstanding, diluted 184,698,411 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Nine Months Ended September 30, 2018 (dollars in thousands, except per share amounts) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Revenues: Rental and related revenues $ — $ — $ — $ 106,773 $ 325,034 $ (12,856 ) $ 418,951 Interest and other income 83 303 — 3,847 8,893 (303 ) 12,823 Resident fees and services — — — — 52,426 — 52,426 Total revenues 83 303 — 110,620 386,353 (13,159 ) 484,200 Expenses: Depreciation and amortization 665 — — 36,765 105,871 — 143,301 Interest — 99,873 — 2,446 7,864 (303 ) 109,880 Senior housing - managed portfolio operating expenses — — — — 49,890 (12,856 ) 37,034 General and administrative 21,363 52 — 1,419 2,919 — 25,753 Provision for doubtful accounts, straight-line rental income and loan losses 793 — — 2,359 6,297 — 9,449 Impairment of real estate — — — 1,413 — — 1,413 Total expenses 22,821 99,925 — 44,402 172,841 (13,159 ) 326,830 Other income: Other income 1,977 222 — 308 1,649 — 4,156 Net gain on sales of real estate — — — 40,384 102,061 — 142,445 Total other income 1,977 222 — 40,692 103,710 — 146,601 Income in subsidiary 320,082 419,483 — 5,649 — (745,214 ) — Income before loss from unconsolidated joint venture and income tax expense 299,321 320,083 — 112,559 317,222 (745,214 ) 303,971 Loss from unconsolidated joint venture — — — — (3,626 ) — (3,626 ) Income tax expense (845 ) (1 ) — (742 ) (259 ) — (1,847 ) Net income 298,476 320,082 — 111,817 313,337 (745,214 ) 298,498 Net income attributable to noncontrolling interests — — — — (22 ) — (22 ) Net income attributable to Sabra Health Care REIT, Inc. 298,476 320,082 — 111,817 313,315 (745,214 ) 298,476 Preferred stock dividends (9,768 ) — — — — — (9,768 ) Net income attributable to common stockholders $ 288,708 $ 320,082 $ — $ 111,817 $ 313,315 $ (745,214 ) $ 288,708 Net income attributable to common stockholders, per: Basic common share $ 1.62 Diluted common share $ 1.62 Weighted-average number of common shares outstanding, basic 178,309,127 Weighted-average number of common shares outstanding, diluted 178,729,853 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME For the Three Months Ended September 30, 2019 (dollars in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Net income $ 23,282 $ 32,182 $ — $ 1,531 $ 57,651 $ (91,360 ) $ 23,286 Other comprehensive loss: Unrealized gain (loss), net of tax: Foreign currency translation gain (loss) — 1,403 — (206 ) (280 ) — 917 Unrealized loss on cash flow hedges — (9,375 ) — (1 ) — — (9,376 ) Total other comprehensive loss — (7,972 ) — (207 ) (280 ) — (8,459 ) Comprehensive income 23,282 24,210 — 1,324 57,371 (91,360 ) 14,827 Comprehensive income attributable to noncontrolling interest — — — — (4 ) — (4 ) Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 23,282 $ 24,210 $ — $ 1,324 $ 57,367 $ (91,360 ) $ 14,823 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Three Months Ended September 30, 2018 (dollars in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Net income $ 35,218 $ 41,283 $ — $ 18,725 $ 58,324 $ (118,322 ) $ 35,228 Other comprehensive income: Unrealized gain (loss), net of tax: Foreign currency translation (loss) gain — (857 ) — 610 182 — (65 ) Unrealized gain on cash flow hedges — 2,000 — 10 — — 2,010 Total other comprehensive income — 1,143 — 620 182 — 1,945 Comprehensive income 35,218 42,426 — 19,345 58,506 (118,322 ) 37,173 Comprehensive income attributable to noncontrolling interest — — — — (10 ) — (10 ) Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 35,218 $ 42,426 $ — $ 19,345 $ 58,496 $ (118,322 ) $ 37,163 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME For the Nine Months Ended September 30, 2019 (dollars in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Net income $ 29,255 $ 53,810 $ — $ 101,235 $ 57,641 $ (212,664 ) $ 29,277 Other comprehensive (loss) income: Unrealized gain (loss), net of tax: Foreign currency translation (loss) gain — (298 ) — 1,101 121 — 924 Unrealized (loss) gain on cash flow hedges — (32,669 ) — 49 — — (32,620 ) Total other comprehensive (loss) income — (32,967 ) — 1,150 121 — (31,696 ) Comprehensive income 29,255 20,843 — 102,385 57,762 (212,664 ) (2,419 ) Comprehensive income attributable to noncontrolling interest — — — — (22 ) — (22 ) Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 29,255 $ 20,843 $ — $ 102,385 $ 57,740 $ (212,664 ) $ (2,441 ) (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Nine Months Ended September 30, 2018 (dollars in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Net income $ 298,476 $ 320,082 $ — $ 111,817 $ 313,337 $ (745,214 ) $ 298,498 Other comprehensive income (loss): Unrealized gain (loss), net of tax: Foreign currency translation gain (loss) — 1,048 — (926 ) (300 ) — (178 ) Unrealized gain on cash flow hedges — 15,238 — 8 — — 15,246 Total other comprehensive income (loss) — 16,286 — (918 ) (300 ) — 15,068 Comprehensive income 298,476 336,368 — 110,899 313,037 (745,214 ) 313,566 Comprehensive income attributable to noncontrolling interest — — — — (22 ) — (22 ) Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 298,476 $ 336,368 $ — $ 110,899 $ 313,015 $ (745,214 ) $ 313,544 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Nine Months Ended September 30, 2019 (in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Net cash provided by operating activities $ 267,509 $ — $ — $ 487 $ 8,985 $ — $ 276,981 Cash flows from investing activities: Acquisition of real estate — — — (14,977 ) — — (14,977 ) Origination and fundings of loans receivable — — — (6,018 ) (3,423 ) — (9,441 ) Additions to real estate (107 ) — — (8,314 ) (7,564 ) — (15,985 ) Repayments of loans receivable — — — 124 13,637 — 13,761 Repayments of preferred equity investments — — — 3,672 — — 3,672 Net proceeds from the sales of real estate — — — 21,586 300,129 — 321,715 Buyout of noncontrolling interests — — — (200 ) — — (200 ) Distribution from subsidiaries 5,139 5,139 — — — (10,278 ) — Intercompany financing (346,815 ) 301,044 — — — 45,771 — Net cash (used in) provided by investing activities (341,783 ) 306,183 — (4,127 ) 302,779 35,493 298,545 Cash flows from financing activities: Net repayments of revolving credit facility — (424,000 ) — — — — (424,000 ) Proceeds from issuance of senior unsecured notes — 297,039 — — — — 297,039 Principal payments on senior unsecured notes — (500,000 ) — — — (500,000 ) Principal payments on secured debt — — — — (2,566 ) — (2,566 ) Payments of deferred financing costs — (14,001 ) — — — — (14,001 ) Payments related to extinguishment of debt — (6,897 ) — — — — (6,897 ) Distributions to noncontrolling interest — — — — (116 ) — (116 ) Issuance of common stock, net 302,030 — — — — — 302,030 Dividends paid on common stock (247,222 ) — — — — — (247,222 ) Distribution to parent — (5,139 ) — — (5,139 ) 10,278 — Intercompany financing — 346,815 — 2,637 (303,681 ) (45,771 ) — Net cash provided by (used in) financing activities 54,808 (306,183 ) — 2,637 (311,502 ) (35,493 ) (595,733 ) Net (decrease) increase in cash, cash equivalents and restricted cash (19,466 ) — — (1,003 ) 262 — (20,207 ) Effect of foreign currency translation on cash, cash equivalents and restricted cash — — — 142 69 — 211 Cash, cash equivalents and restricted cash, beginning of period 40,835 — — 5,328 13,495 — 59,658 Cash, cash equivalents and restricted cash, end of period $ 21,369 $ — $ — $ 4,467 $ 13,826 $ — $ 39,662 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Nine Months Ended September 30, 2018 (in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Net cash provided b

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Environmental As an owner of real estate, the Company is subject to various environmental laws of federal, state and local governments. The Company is not aware of any environmental liability that could have a material adverse effect on its financial condition or results of operations. However, changes in applicable environmental laws and regulations, the uses and conditions of properties in the vicinity of the Company’s properties, the activities of its tenants and other environmental conditions of which the Company is unaware with respect to the properties could result in future environmental liabilities. As of September 30, 2019 , 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. Legal Matters From time to time, the Company is party to legal proceedings that arise in the ordinary course of its business. Management is not aware of any legal proceedings where the likelihood of a loss contingency is reasonably possible and the amount or range of reasonably possible losses is material to the Company’s results of operations, financial condition or cash flows.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The Company evaluates subsequent events up until the date the condensed consolidated financial statements are issued. Dividend Declaration On October 30, 2019 , 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 November 29, 2019 to common stockholders of record as of the close of business on November 15, 2019 .

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Accounting	The accompanying condensed consolidated financial statements include the accounts of Sabra and its wholly owned subsidiaries as of September 30, 2019 and December 31, 2018 and for the three and nine month periods ended September 30, 2019 and 2018 . All significant intercompany transactions and balances have been eliminated in consolidation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC, including the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the unaudited condensed consolidated financial statements do not include all of the information and footnotes required by GAAP for financial statements. In the opinion of management, the financial statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair statement of the results for such periods. Operating results for the three and nine months ended September 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019 . For further information, refer to the Company’s consolidated financial statements and notes thereto for the year ended December 31, 2018 included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 filed with the SEC.
Variable Interest Entities	GAAP requires the Company to identify entities for which control is achieved through voting rights or other means and to determine which business enterprise is the primary beneficiary of variable interest entities (“VIEs”). A VIE is broadly defined as an entity with one or more of the following characteristics: (a) the total equity investment at risk is insufficient to finance the entity’s activities without additional subordinated financial support; (b) as a group, the holders of the equity investment at risk lack (i) the ability to make decisions about the entity’s activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; or (c) the equity investors have voting rights that are not proportional to their economic interests, and substantially all of the entity’s activities either involve, or are conducted on behalf of, an investor that has disproportionately few voting rights. If the Company were determined to be the primary beneficiary of the VIE, the Company would consolidate investments in the VIE. The Company may change its original assessment of a VIE due to events such as modifications of contractual arrangements that affect the characteristics or adequacy of the entity’s equity investments at risk and the disposal of all or a portion of an interest held by the primary beneficiary. The Company identifies the primary beneficiary of a VIE as the enterprise that has both: (i) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance; and (ii) the obligation to absorb losses or the right to receive benefits of the VIE that could be significant to the entity. The Company performs this analysis on an ongoing basis. As of September 30, 2019 , the Company determined that it was no t the primarily beneficiary of any VIEs. 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 whether the loan investment should be accounted for as a loan or as a real estate joint venture. If an investment has the characteristics of a real estate joint venture, including if the Company participates in the majority of the borrower’s expected residual profit, the Company would account for the investment as an investment in a real estate joint venture and not as a loan investment. Expected residual profit is defined as the amount of profit, whether called interest or another name, such as an equity kicker, above a reasonable amount of interest and fees expected to be earned by a lender. At September 30, 2019 , none of the Company’s investments in loans were accounted for as real estate joint ventures.
Use of Estimates	The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates.
Reclassifications	Certain amounts in the Company’s condensed consolidated statements of income for prior periods have been reclassified to conform to the current period presentation. These reclassifications have not changed the results of operations or stockholders’ equity of prior periods.
Investment in Unconsolidated Joint Venture	The Company reports investments in unconsolidated entities over whose operating and financial policies it has the ability to exercise significant influence under the equity method of accounting. Under this method of accounting, the Company’s share of the investee’s earnings or losses is included in the Company’s condensed consolidated statements of income. The initial carrying value of the investment is based on the amount paid to purchase the joint venture interest. Differences between the Company’s cost basis and the basis reflected at the joint venture level are generally amortized over the lives of the related assets and liabilities, and such amortization is included in the Company’s share of earnings of the joint venture. The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its equity method investments may not be recoverable or realized. When indicators of potential impairment are identified, the Company evaluates its equity method investments for impairment based on a comparison of the fair value of the investment to its carrying value. The fair value is estimated based on discounted cash flows that include all estimated cash inflows and outflows over a specified holding period and any estimated debt premiums or discounts. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of its equity method investment, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of its equity method investment.
Net Investment in Direct Financing Lease	The net investment in direct financing lease is recorded in accounts receivable, prepaid expenses and other assets, net on the accompanying condensed consolidated balance sheets and represents the total undiscounted rental payments of $4.4 million , plus the estimated unguaranteed residual value of $24.7 million , less the unearned lease income of $5.3 million as of September 30, 2019
Recently Issued Accounting Standards Update	Adopted In February 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-02, Leases, as amended by subsequent ASUs (“Topic 842”). Topic 842 supersedes guidance related to accounting for leases and provides for the recognition of lease assets and lease liabilities by lessees for those leases previously classified as operating leases under GAAP. The objective of Topic 842 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. Topic 842 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. Topic 842 is effective for fiscal years and interim periods within those years beginning after December 15, 2018, with early adoption permitted. The Company elected to adopt Topic 842 on January 1, 2019 using the modified retrospective transition method, which permits application of the new standard on the adoption date as opposed to the earliest comparative period presented in the financial statements. In addition, the Company elected to use the available practical expedient package, and therefore did not reassess classification of its existing leases. Additionally, the Company has elected a practical expedient not to separate lease and nonlease components (such as services rendered), which can only be applied to leasing arrangements for which (i) the timing and pattern of transfer are the same for the lease and nonlease components and (ii) the lease component, if accounted for separately, would be classified as an operating lease. Under this practical expedient, contracts that are predominantly lease-based would be accounted for under Topic 842, and contracts that are predominantly service-based would be accounted for under Topic 606, Revenue from Contracts with Customers. As a result of electing this practical expedient, the Company, beginning January 1, 2019, recognizes revenue from its leased skilled nursing/transitional care facilities, senior housing communities, and specialty hospitals and other facilities under Topic 842 and recognizes revenue from its Senior Housing - Managed communities under the Revenue ASUs (codified under Topic 606). Upon adoption of Topic 842, the Company recognized its operating leases for which it is the lessee, mainly its corporate office lease and ground leases, on its consolidated balance sheets, as a lease liability of $10.0 million , included in accounts payable and accrued liabilities on the condensed consolidated balance sheets, and a corresponding right-of-use asset, included in accounts receivable, prepaid expenses and other assets, net on the condensed consolidated balance sheets. As of September 30, 2019 , the balances of the lease liability and the corresponding right-of-use asset were $9.8 million and $9.4 million , respectively. The Company assesses the collectability of rental revenues on a lease-by-lease basis. Prior to the adoption of Topic 842, the Company recorded rental revenue and receivables to the extent those amounts were expected to be collected, irrespective of the Company’s determination of the collectability of substantially all rents over the life of a lease. Upon adoption of Topic 842, if at any time the Company cannot determine that it is probable that substantially all rents over the life of a lease are collectible, rental revenue will be recognized only to the extent of payments received and all receivables associated with the lease will be written off irrespective of amounts expected to be collectible. Upon adoption of Topic 842 and as of the adoption date, the Company recorded a $32.5 million reduction in equity and accounts receivable due to the cumulative effect of this change. This reduction consisted of $17.5 million of straight-line rental income receivables and $15.0 million of cash rent receivables, although management believes the $15.0 million of cash rent receivables are collectible. Any recoveries of these amounts will be recorded in future periods upon receipt of payment. Under Topic 842, future write-offs of receivables and any recoveries of previously written-off receivables will be recorded as adjustments to rental revenue. Furthermore, Topic 842 requires lessors to exclude from variable payments lessor costs paid by lessees directly to third parties. In contrast, lessor costs that are paid by the lessor and reimbursed by the lessee are included in the measurement of variable lease revenue and the associated expense. As a result, the Company recognized $4.0 million and $13.0 million of variable lease revenue and the associated expense during the three and nine months ended September 30, 2019 , respectively. Issued but Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 requires that a financial asset (or a group of financial assets) measured at amortized cost basis be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. The amendments in ASU 2016-13 are an improvement because they eliminate the probable initial recognition threshold under 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. In November 2018, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments—Credit Losses (“ASU 2018-19”), which amends ASU 2016-13 to clarify that receivables arising from operating leases are not within the scope of Subtopic 326-20, and instead, impairment of such receivables should be accounted for in accordance with Topic 842, Leases. ASU 2016-13 and ASU 2018-19 are 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 these updates 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 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). ASU 2018-13 updates the fair value measurement disclosure requirements by (i) eliminating certain requirements, including disclosure of the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, the policy for timing of transfers between levels and the valuation processes for Level 3 fair value measurements, (ii) modifying certain requirements, including clarifying that the measurement uncertainty disclosure is to communicate information about the uncertainty in measurement as of the reporting date and (iii) adding certain requirements, including disclosure of the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. ASU 2018-13 is effective for fiscal years and interim periods within those years beginning after December 15, 2019, with early adoption permitted for any eliminated or modified disclosures. The Company is currently evaluating the impact this guidance will have on its consolidated financial statements when adopted.
Fair Value of 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 Agreement 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 condensed 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 condensed 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 investments, the underlying collateral value and other credit enhancements. As such, the Company classifies these instruments as Level 3. Derivative instruments : The Company’s derivative instruments are presented at fair value on the accompanying condensed consolidated balance sheets. The Company estimates the fair value of derivative instruments, including its interest rate 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 condensed consolidated balance sheets at their outstanding principal balance, net of unamortized deferred financing costs and premiums/discounts and not at fair value. The fair values of the Senior Notes were determined using third-party market quotes derived from orderly trades. As such, the Company classifies these instruments as Level 2. Secured indebtedness : These instruments are presented on the accompanying condensed consolidated balance sheets at their outstanding principal balance, net of unamortized deferred financing costs and premiums/discounts and not at fair value. The fair values of the Company’s 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.

RECENT REAL ESTATE ACQUISITIO_2

RECENT REAL ESTATE ACQUISITIONS (Tables)	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Purchase Price Allocation	The consideration was allocated as follows (in thousands): Nine Months Ended September 30, 2019 2018 Land $ 2,040 $ 28,089 Building and improvements 12,652 208,678 Tenant origination and absorption costs intangible assets 234 1,669 Tenant relationship intangible assets 51 565 Total consideration $ 14,977 $ 239,001

REAL ESTATE PROPERTIES HELD F_2

REAL ESTATE PROPERTIES HELD FOR INVESTMENT (Tables)	9 Months Ended
	Sep. 30, 2019
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 September 30, 2019 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 304 33,879 $ 3,711,702 $ (285,138 ) $ 3,426,564 Senior Housing - Leased (1) 62 4,011 636,273 (72,716 ) 563,557 Senior Housing - Managed (1) 44 4,470 863,130 (101,426 ) 761,704 Specialty Hospitals and Other 24 1,193 635,928 (43,146 ) 592,782 434 43,553 5,847,033 (502,426 ) 5,344,607 Corporate Level 741 (351 ) 390 $ 5,847,774 $ (502,777 ) $ 5,344,997 As of December 31, 2018 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 335 37,628 $ 4,094,484 $ (224,942 ) $ 3,869,542 Senior Housing - Leased (1) 90 7,332 1,237,790 (125,902 ) 1,111,888 Senior Housing - Managed (1) 23 1,603 301,739 (19,537 ) 282,202 Specialty Hospitals and Other 22 1,085 621,236 (31,640 ) 589,596 470 47,648 6,255,249 (402,021 ) 5,853,228 Corporate Level 634 (317 ) 317 $ 6,255,883 $ (402,338 ) $ 5,853,545 (1) During the nine months ended September 30, 2019 , the Company transitioned 21 senior housing communities to its Senior Housing - Managed portfolio. September 30, 2019 December 31, 2018 Building and improvements $ 5,018,346 $ 5,388,102 Furniture and equipment 235,762 237,145 Land improvements 1,415 1,254 Land 592,251 629,382 5,847,774 6,255,883 Accumulated depreciation (502,777 ) (402,338 ) $ 5,344,997 $ 5,853,545
Future Minimum Rental Payments Receivable for Properties Held for Investment Under Non-Cancelable Operating Leases	The future minimum rental payments from the Company’s properties held for investment under non-cancelable operating leases were as follows and may materially differ from actual future rental payments received (in thousands): As of September 30, 2019 October 1 through December 31, 2019 $ 109,663 2020 425,610 2021 422,465 2022 398,608 2023 381,472 Thereafter 2,023,764 $ 3,761,582
Future Minimum Rental Payments Receivable for Properties Held for Investment Under Non-Cancelable Operating Leases	As of December 31, 2018 2019 $ 465,766 2020 456,207 2021 452,346 2022 454,216 2023 437,277 Thereafter 2,407,064 $ 4,672,876

LOANS RECEIVABLE AND OTHER IN_2

LOANS RECEIVABLE AND OTHER INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2019
Receivables [Abstract]
Loans Receivable and Other Investments	As of September 30, 2019 and December 31, 2018 , the Company’s loans receivable and other investments consisted of the following (dollars in thousands): September 30, 2019 Investment Quantity as of September 30, 2019 Property Type Principal Balance as of September 30, 2019 (1) Book Value as of September 30, 2019 Book Value as of Weighted Average Contractual Interest Rate / Rate of Return Weighted Average Annualized Effective Interest Rate / Rate of Return Maturity Date as of September 30, 2019 Loans Receivable: Mortgage 1 Specialty Hospital $ 19,000 $ 19,000 $ 18,577 10.0 % 10.0 % 01/31/27 Construction 2 Senior Housing 5,884 5,935 4,629 8.0 % 7.7 % 10/14/19- 09/30/22 Mezzanine — Skilled Nursing — — 2,188 N/A N/A N/A Other 17 Multiple 43,602 39,673 45,324 6.7 % 7.1 % 09/23/19- 08/31/28 20 68,486 64,608 70,718 7.7 % 8.0 % Loan loss reserve — (783 ) (1,258 ) $ 68,486 $ 63,825 $ 69,460 Other Investments: Preferred Equity 9 Skilled Nursing / Senior Housing 44,005 44,417 44,262 12.0 % 12.0 % N/A Total 29 $ 112,491 $ 108,242 $ 113,722 9.4 % 9.6 % (1) Principal balance includes amounts funded and accrued but unpaid interest / preferred return and excludes capitalizable fees.
Changes in Accretable Yield of Loans with Deteriorated Credit Quality	The following table presents changes in the accretable yield for the three and nine months ended September 30, 2019 and 2018 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Accretable yield, beginning of period $ 112 $ 1,081 $ 449 $ 2,483 Accretion recognized in earnings (53 ) (348 ) (357 ) (2,477 ) Reduction due to payoff — — (33 ) — Net reclassification from nonaccretable difference — — — 727 Accretable yield, end of period $ 59 $ 733 $ 59 $ 733

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt	The Company’s secured debt consists of the following (dollars in thousands): Interest Rate Type Principal Balance as of (1) Principal Balance as of (1) Weighted Average (2) Maturity Date Fixed Rate $ 115,370 $ 117,464 3.67 % December 2021 - (1) Principal balance does not include deferred financing costs, net of $ 1.7 million and $1.8 million as of September 30, 2019 and December 31, 2018 , respectively. (2) Weighted average interest rate includes private mortgage insurance. The Company’s senior unsecured notes consist of the following (dollars in thousands): Principal Balance as of Title Maturity Date September 30, 2019 (1) December 31, 2018 (1) 5.5% senior unsecured notes due 2021 (“2021 Notes”) February 1, 2021 $ — $ 500,000 5.375% senior unsecured notes due 2023 (“2023 Notes”) June 1, 2023 200,000 200,000 4.80% senior unsecured notes due 2024 (“2024 Notes”) June 1, 2024 300,000 — 5.125% senior unsecured notes due 2026 (“2026 Notes”) August 15, 2026 500,000 500,000 5.38% senior unsecured notes due 2027 (“2027 Notes”) May 17, 2027 100,000 100,000 $ 1,100,000 $ 1,300,000 (1) Principal balance does not include premium, net of $13.2 million and deferred financing costs, net of $6.7 million as of September 30, 2019 and does not include premium, net of $14.5 million and deferred financing costs, net of $7.1 million as of December 31, 2018 .
Schedule of Maturities for Outstanding Debt	The following is a schedule of maturities for the Company’s outstanding debt as of September 30, 2019 (in thousands): Secured Indebtedness Revolving Credit Facility (1) Term Loans Senior Notes Total October 1 through December 31, 2019 $ 869 $ — $ — $ — $ 869 2020 3,545 — — — 3,545 2021 18,573 — — — 18,573 2022 3,185 — 250,000 — 253,185 2023 3,282 200,000 350,000 200,000 753,282 Thereafter 85,916 — 594,400 900,000 1,580,316 Total Debt 115,370 200,000 1,194,400 1,100,000 2,609,770 Premium, net — — — 13,188 13,188 Deferred financing costs, net (1,726 ) — (11,417 ) (6,704 ) (19,847 ) Total Debt, Net $ 113,644 $ 200,000 $ 1,182,983 $ 1,106,484 $ 2,603,111 (1) Revolving Credit Facility is subject to two six -month extension options.

DERIVATIVE AND HEDGING INSTRU_2

DERIVATIVE AND HEDGING INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Notional Amount of Derivatives Instruments	The following presents the notional amount of derivative instruments as of the dates indicated (in thousands): September 30, 2019 December 31, 2018 Derivatives designated as cash flow hedges: Denominated in U.S. Dollars (1) $ 1,490,000 $ 1,045,000 Denominated in Canadian Dollars $ 125,000 $ 125,000 Derivatives designated as net investment hedges: Denominated in Canadian Dollars $ 54,676 $ 55,401 Financial instrument designated as net investment hedge: Denominated in Canadian Dollars $ 125,000 $ 125,000 Derivatives not designated as net investment hedges: Denominated in Canadian Dollars $ 1,624 $ 899 (1) Balance includes four forward starting interest rate swaps and one forward starting interest rate collar with an effective date of August 2020 and two forward starting interest rate swaps and one forward starting interest rate collar with an effective date of January 2021 that were entered into as of September 30, 2019 . The forward starting interest rate swaps and forward starting interest rate collars have an aggregate initial notional amount of $645.0 million accreting to $845.0 million in January 2023.
Derivative and Financial Instruments Designated as Hedging Instruments	The following is a summary of the derivative and financial instruments designated as hedging instruments held by the Company at September 30, 2019 and December 31, 2018 (dollars in thousands): Count as of September 30, 2019 Fair Value Maturity Dates Type Designation September 30, 2019 December 31, 2018 Balance Sheet Location Assets: Interest rate swaps Cash flow 7 $ 4,617 $ 25,184 2020 - 2023 Accounts receivable, prepaid expenses and other assets, net Cross currency interest rate swaps Net investment 2 4,068 4,160 2025 Accounts receivable, prepaid expenses and other assets, net $ 8,685 $ 29,344 Liabilities: Interest rate swaps Cash flow 3 $ 367 $ — 2023 Accounts payable and accrued liabilities Forward starting interest rate swaps Cash flow 6 6,267 4,529 2024 Accounts payable and accrued liabilities Forward starting interest rate collars Cash flow 2 844 — 2024 Accounts payable and accrued liabilities CAD term loan Net investment 1 94,400 91,700 2024 Term loans, net $ 101,878 $ 96,229
Effect of Derivative Financial Instruments on the Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Equity	The following presents the effect of the Company’s derivative and financial instruments designated as hedging instruments on the condensed consolidated statements of income and the condensed consolidated statements of equity for the three and nine months ended September 30, 2019 and 2018 (in thousands): (Loss) Gain Recognized in Other Comprehensive (Loss) Income Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Income Statement Location Cash Flow Hedges: Interest rate products $ (8,196 ) $ 2,954 $ (27,933 ) $ 16,091 Interest expense Net Investment Hedges: Foreign currency products 1,273 (688 ) (3 ) 817 N/A CAD term loan 1,088 (1,725 ) (2,700 ) 2,700 N/A $ (5,835 ) $ 541 $ (30,636 ) $ 19,608 Gain Reclassified from Accumulated Other Comprehensive Income into Income Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Income Statement Location Cash Flow Hedges: Interest rate products $ 1,173 $ 1,001 $ 4,781 $ 1,584 Interest expense
Gross Presentation, Effects of Offsetting, and Net Presentation of Derivatives - Assets	The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of September 30, 2019 and December 31, 2018 (in thousands): As of September 30, 2019 Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 8,684 $ — $ 8,684 $ (4,106 ) $ — $ 4,578 Offsetting Liabilities: Derivatives $ 7,478 $ — $ 7,478 $ (4,106 ) $ — $ 3,372 As of December 31, 2018 Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 29,344 $ — $ 29,344 $ (2,069 ) $ — $ 27,275 Offsetting Liabilities: Derivatives $ 4,529 $ — $ 4,529 $ (2,069 ) $ — $ 2,460
Gross Presentation, Effects of Offsetting, and Net Presentation of Derivatives - Liabilities	The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of September 30, 2019 and December 31, 2018 (in thousands): As of September 30, 2019 Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 8,684 $ — $ 8,684 $ (4,106 ) $ — $ 4,578 Offsetting Liabilities: Derivatives $ 7,478 $ — $ 7,478 $ (4,106 ) $ — $ 3,372 As of December 31, 2018 Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 29,344 $ — $ 29,344 $ (2,069 ) $ — $ 27,275 Offsetting Liabilities: Derivatives $ 4,529 $ — $ 4,529 $ (2,069 ) $ — $ 2,460

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	9 Months Ended
	Sep. 30, 2019
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 September 30, 2019 and December 31, 2018 whose carrying amounts do not approximate their fair value (in thousands): September 30, 2019 December 31, 2018 Face (1) Carrying Amount (2) Fair Value Face (1) Carrying (2) Fair Value Financial assets: Loans receivable $ 68,486 $ 63,825 $ 61,008 $ 96,492 $ 69,460 $ 65,797 Preferred equity investments 44,005 44,417 44,753 43,851 44,262 43,825 Financial liabilities: Senior Notes 1,100,000 1,106,484 1,166,203 1,300,000 1,307,394 1,270,877 Secured indebtedness 115,370 113,644 110,579 117,464 115,679 101,820 (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.
Fair Value of Financial Instruments	The Company determined the fair value of financial instruments as of September 30, 2019 whose carrying amounts do not approximate their fair value with valuation methods utilizing the following types of inputs (in thousands): Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Financial assets: Loans receivable $ 61,008 $ — $ — $ 61,008 Preferred equity investments 44,753 — — 44,753 Financial liabilities: Senior Notes 1,166,203 — 1,166,203 — Secured indebtedness 110,579 — — 110,579
Items Measured at Fair Value on a Recurring Basis	During the nine months ended September 30, 2019 , the Company recorded the following amounts measured at fair value (in thousands): Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Recurring Basis: Financial assets: Interest rate swaps $ 4,617 $ — $ 4,617 $ — Cross currency interest rate swaps 4,068 — 4,068 — Financial liabilities: Interest rate swaps 367 — 367 — Forward starting interest rate swaps 6,267 — 6,267 — Forward starting interest rate collars 844 — 844 —

EQUITY (Tables)

EQUITY (Tables)	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Cash Dividends on Common Stock Declared and Paid	The following table lists the cash dividends on common stock declared and paid by the Company during the nine months ended September 30, 2019 : Declaration Date Record Date Amount Per Share Dividend Payable Date February 5, 2019 February 15, 2019 $ 0.45 February 28, 2019 May 8, 2019 May 20, 2019 $ 0.45 May 31, 2019 August 7, 2019 August 20, 2019 $ 0.45 August 30, 2019
Accumulated Other Comprehensive (Loss) Income	The following is a summary of the Company’s accumulated other comprehensive (loss) income (in thousands): September 30, 2019 December 31, 2018 Foreign currency translation loss $ (1,269 ) $ (2,193 ) Unrealized (loss) gain on cash flow hedges (18,126 ) 14,494 Total accumulated other comprehensive (loss) income $ (19,395 ) $ 12,301

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	9 Months Ended
	Sep. 30, 2019
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 for the three and nine months ended September 30, 2019 and 2018 (in thousands, except share and per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Numerator Net income attributable to common stockholders $ 23,282 $ 35,218 $ 29,255 $ 288,708 Denominator Basic weighted average common shares and common equivalents 190,650,400 178,317,769 183,578,254 178,309,127 Dilutive restricted stock units 1,301,989 623,444 1,120,157 420,726 Diluted weighted average common shares 191,952,389 178,941,213 184,698,411 178,729,853 Net income attributable to common stockholders, per: Basic common share $ 0.12 $ 0.20 $ 0.16 $ 1.62 Diluted common share $ 0.12 $ 0.20 $ 0.16 $ 1.62

SUMMARIZED CONDENSED CONSOLID_2

SUMMARIZED CONDENSED CONSOLIDATING INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2019
Summarized Condensed Consolidating Information [Abstract]
Condensed Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET September 30, 2019 (in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Assets Real estate investments, net of accumulated depreciation $ 390 $ — $ — $ 1,417,907 $ 3,926,700 $ — $ 5,344,997 Loans receivable and other investments, net (783 ) — — 55,935 53,090 — 108,242 Investment in unconsolidated joint venture — — — — 324,324 — 324,324 Cash and cash equivalents 21,369 — — 2,607 5,455 — 29,431 Restricted cash — — — 1,860 8,371 — 10,231 Lease intangible assets, net — — — 9,029 95,948 — 104,977 Accounts receivable, prepaid expenses and other assets, net 3,693 21,559 — 27,396 100,698 (7,545 ) 145,801 Intercompany 1,992,202 1,946,790 — — — (3,938,992 ) — Investment in subsidiaries 1,298,119 1,748,807 — 33,358 — (3,080,284 ) — Total assets $ 3,314,990 $ 3,717,156 $ — $ 1,548,092 $ 4,514,586 $ (7,026,821 ) $ 6,068,003 Liabilities Secured debt, net $ — $ — $ — $ — $ 113,644 $ — $ 113,644 Revolving credit facility — 200,000 — — — — 200,000 Term loans, net — 1,089,805 — 93,178 — — 1,182,983 Senior unsecured notes, net — 1,106,484 — — — — 1,106,484 Accounts payable and accrued liabilities 32,573 22,748 — 2,182 59,443 (7,545 ) 109,401 Lease intangible liabilities, net — — — — 73,074 — 73,074 Intercompany — — — 659,890 3,279,102 (3,938,992 ) — Total liabilities 32,573 2,419,037 — 755,250 3,525,263 (3,946,537 ) 2,785,586 Total equity 3,282,417 1,298,119 — 792,842 989,323 (3,080,284 ) 3,282,417 Total liabilities and equity $ 3,314,990 $ 3,717,156 $ — $ 1,548,092 $ 4,514,586 $ (7,026,821 ) $ 6,068,003 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2018 (in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Assets Real estate investments, net of accumulated depreciation $ 317 $ — $ — $ 1,453,451 $ 4,399,777 $ — $ 5,853,545 Loans receivable and other investments, net (560 ) — — 50,534 63,748 — 113,722 Investment in unconsolidated joint venture — — — — 340,120 — 340,120 Cash and cash equivalents 40,835 — — 3,508 5,887 — 50,230 Restricted cash — — — 1,820 7,608 — 9,428 Lease intangible assets, net — — — 13,947 117,150 — 131,097 Accounts receivable, prepaid expenses and other assets, net 798 37,075 — 58,704 81,603 (11,019 ) 167,161 Intercompany 1,972,059 2,646,669 — — — (4,618,728 ) — Investment in subsidiaries 1,258,715 1,629,795 — 33,083 — (2,921,593 ) — Total assets $ 3,272,164 $ 4,313,539 $ — $ 1,615,047 $ 5,015,893 $ (7,551,340 ) $ 6,665,303 Liabilities Secured debt, net $ — $ — $ — $ — $ 115,679 $ — $ 115,679 Revolving credit facility — 624,000 — — — — 624,000 Term loans, net — 1,094,177 — 90,753 — — 1,184,930 Senior unsecured notes, net — 1,307,394 — — — — 1,307,394 Accounts payable and accrued liabilities 21,750 29,253 — 2,570 52,273 (11,019 ) 94,827 Lease intangible liabilities, net — — — — 83,726 — 83,726 Intercompany — — — 810,394 3,808,334 (4,618,728 ) — Total liabilities 21,750 3,054,824 — 903,717 4,060,012 (4,629,747 ) 3,410,556 Total Sabra Health Care REIT, Inc. stockholders’ equity 3,250,414 1,258,715 — 711,330 951,548 (2,921,593 ) 3,250,414 Noncontrolling interests — — — — 4,333 — 4,333 Total equity 3,250,414 1,258,715 — 711,330 955,881 (2,921,593 ) 3,254,747 Total liabilities and equity $ 3,272,164 $ 4,313,539 $ — $ 1,615,047 $ 5,015,893 $ (7,551,340 ) $ 6,665,303 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes.
Condensed Consolidating Statement of Income	CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Three Months Ended September 30, 2019 (dollars in thousands, except per share amounts) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Revenues: Rental and related revenues $ — $ — $ — $ 24,947 $ 94,602 $ (9,445 ) $ 110,104 Interest and other income 47 1,863 — 1,355 1,924 (1,864 ) 3,325 Resident fees and services — — — — 36,405 — 36,405 Total revenues 47 1,863 — 26,302 132,931 (11,309 ) 149,834 Expenses: Depreciation and amortization 11 — — 11,692 31,389 — 43,092 Interest — 27,275 — 2,665 1,179 (1,864 ) 29,255 Triple-net portfolio operating expenses — — — 657 4,954 — 5,611 Senior housing - managed portfolio operating expenses — — — — 33,424 (9,445 ) 23,979 General and administrative 8,010 91 — 274 334 — 8,709 Provision for doubtful accounts, straight-line rental income and loan losses 57 — — — — — 57 Impairment of real estate — — — 10,835 3,131 — 13,966 Total expenses 8,078 27,366 — 26,123 74,411 (11,309 ) 124,669 Other (expense) income: Loss on extinguishment of debt (598 ) (2 ) — (44 ) — — (644 ) Other income (expense) — 205 — (167 ) 177 — 215 Net loss on sales of real estate — — — — (19 ) — (19 ) Total other (expense) income (598 ) 203 — (211 ) 158 — (448 ) Income in subsidiary 32,182 57,482 — 1,696 — (91,360 ) — Income before loss from unconsolidated joint venture and income tax expense 23,553 32,182 — 1,664 58,678 (91,360 ) 24,717 Loss from unconsolidated joint venture — — — — (605 ) — (605 ) Income tax expense (271 ) — — (133 ) (422 ) — (826 ) Net income 23,282 32,182 — 1,531 57,651 (91,360 ) 23,286 Net income attributable to noncontrolling interests — — — — (4 ) — (4 ) Net income attributable to common stockholders $ 23,282 $ 32,182 $ — $ 1,531 $ 57,647 $ (91,360 ) $ 23,282 Net income attributable to common stockholders, per: Basic common share $ 0.12 Diluted common share $ 0.12 Weighted-average number of common shares outstanding, basic 190,650,400 Weighted-average number of common shares outstanding, diluted 191,952,389 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Three Months Ended September 30, 2018 (dollars in thousands, except per share amounts) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Revenues: Rental and related revenues $ — $ — $ — $ 35,204 $ 99,566 $ (4,303 ) $ 130,467 Interest and other income 33 95 — 1,434 2,465 (95 ) 3,932 Resident fees and services — — — — 17,403 — 17,403 Total revenues 33 95 — 36,638 119,434 (4,398 ) 151,802 Expenses: Depreciation and amortization 221 — — 12,634 35,613 — 48,468 Interest — 33,892 — 846 2,662 (95 ) 37,305 Senior housing - managed portfolio operating expenses — — — — 16,914 (4,303 ) 12,611 General and administrative 7,084 24 — 636 429 — 8,173 (Recovery of) provision for doubtful accounts, straight-line rental income and loan losses (1,699 ) — — 4,315 6,294 — 8,910 Total expenses 5,606 33,916 — 18,431 61,912 (4,398 ) 115,467 Other (expense) income: Other (expense) income — (11 ) — (70 ) 1,417 — 1,336 Net (loss) gain on sales of real estate — — — (1,136 ) 1,150 — 14 Total other (expense) income — (11 ) — (1,206 ) 2,567 — 1,350 Income in subsidiary 41,283 75,115 — 1,924 — (118,322 ) — Income before loss from unconsolidated joint venture and income tax expense 35,710 41,283 — 18,925 60,089 (118,322 ) 37,685 Loss from unconsolidated joint venture — — — — (1,725 ) — (1,725 ) Income tax expense (492 ) — — (200 ) (40 ) — (732 ) Net income 35,218 41,283 — 18,725 58,324 (118,322 ) 35,228 Net income attributable to noncontrolling interests — — — — (10 ) — (10 ) Net income attributable to common stockholders $ 35,218 $ 41,283 $ — $ 18,725 $ 58,314 $ (118,322 ) $ 35,218 Net income attributable to common stockholders, per: Basic common share $ 0.20 Diluted common share $ 0.20 Weighted-average number of common shares outstanding, basic 178,317,769 Weighted-average number of common shares outstanding, diluted 178,941,213 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Nine Months Ended September 30, 2019 (dollars in thousands, except per share amounts) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Revenues: Rental and related revenues $ — $ — $ — $ 84,344 $ 278,138 $ (23,191 ) $ 339,291 Interest and other income 167 3,855 — 70,784 6,194 (3,855 ) 77,145 Resident fees and services — — — — 89,537 — 89,537 Total revenues 167 3,855 — 155,128 373,869 (27,046 ) 505,973 Expenses: Depreciation and amortization 35 — — 38,934 98,548 — 137,517 Interest — 93,165 — 6,234 3,637 (3,855 ) 99,181 Triple-net portfolio operating expenses — — — 1,827 15,313 — 17,140 Senior housing - managed portfolio operating expenses — — — — 83,449 (23,191 ) 60,258 General and administrative 23,247 153 — 550 1,002 — 24,952 Provision for doubtful accounts, straight-line rental income and loan losses 223 — — — 1,234 — 1,457 Impairment of real estate — — — 10,835 108,267 — 119,102 Total expenses 23,505 93,318 — 58,380 311,450 (27,046 ) 459,607 Other (expense) income: Loss on extinguishment of debt (598 ) (10,121 ) — (44 ) — — (10,763 ) Other (expense) income — (403 ) — 434 354 — 385 Net (loss) gain on sales of real estate — — — (179 ) 1,395 — 1,216 Total other (expense) income (598 ) (10,524 ) — 211 1,749 — (9,162 ) Income in subsidiary 53,810 153,798 — 5,056 — (212,664 ) — Income before loss from unconsolidated joint venture and income tax expense 29,874 53,811 — 102,015 64,168 (212,664 ) 37,204 Loss from unconsolidated joint venture — — — — (5,635 ) — (5,635 ) Income tax expense (619 ) (1 ) — (780 ) (892 ) — (2,292 ) Net income 29,255 53,810 — 101,235 57,641 (212,664 ) 29,277 Net income attributable to noncontrolling interests — — — — (22 ) — (22 ) Net income attributable to common stockholders $ 29,255 $ 53,810 $ — $ 101,235 $ 57,619 $ (212,664 ) $ 29,255 Net income attributable to common stockholders, per: Basic common share $ 0.16 Diluted common share $ 0.16 Weighted-average number of common shares outstanding, basic 183,578,254 Weighted-average number of common shares outstanding, diluted 184,698,411 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF INCOME For the Nine Months Ended September 30, 2018 (dollars in thousands, except per share amounts) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Revenues: Rental and related revenues $ — $ — $ — $ 106,773 $ 325,034 $ (12,856 ) $ 418,951 Interest and other income 83 303 — 3,847 8,893 (303 ) 12,823 Resident fees and services — — — — 52,426 — 52,426 Total revenues 83 303 — 110,620 386,353 (13,159 ) 484,200 Expenses: Depreciation and amortization 665 — — 36,765 105,871 — 143,301 Interest — 99,873 — 2,446 7,864 (303 ) 109,880 Senior housing - managed portfolio operating expenses — — — — 49,890 (12,856 ) 37,034 General and administrative 21,363 52 — 1,419 2,919 — 25,753 Provision for doubtful accounts, straight-line rental income and loan losses 793 — — 2,359 6,297 — 9,449 Impairment of real estate — — — 1,413 — — 1,413 Total expenses 22,821 99,925 — 44,402 172,841 (13,159 ) 326,830 Other income: Other income 1,977 222 — 308 1,649 — 4,156 Net gain on sales of real estate — — — 40,384 102,061 — 142,445 Total other income 1,977 222 — 40,692 103,710 — 146,601 Income in subsidiary 320,082 419,483 — 5,649 — (745,214 ) — Income before loss from unconsolidated joint venture and income tax expense 299,321 320,083 — 112,559 317,222 (745,214 ) 303,971 Loss from unconsolidated joint venture — — — — (3,626 ) — (3,626 ) Income tax expense (845 ) (1 ) — (742 ) (259 ) — (1,847 ) Net income 298,476 320,082 — 111,817 313,337 (745,214 ) 298,498 Net income attributable to noncontrolling interests — — — — (22 ) — (22 ) Net income attributable to Sabra Health Care REIT, Inc. 298,476 320,082 — 111,817 313,315 (745,214 ) 298,476 Preferred stock dividends (9,768 ) — — — — — (9,768 ) Net income attributable to common stockholders $ 288,708 $ 320,082 $ — $ 111,817 $ 313,315 $ (745,214 ) $ 288,708 Net income attributable to common stockholders, per: Basic common share $ 1.62 Diluted common share $ 1.62 Weighted-average number of common shares outstanding, basic 178,309,127 Weighted-average number of common shares outstanding, diluted 178,729,853 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes.
Condensed Consolidating Statement of Comprehensive (Loss) Income	CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME For the Three Months Ended September 30, 2019 (dollars in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Net income $ 23,282 $ 32,182 $ — $ 1,531 $ 57,651 $ (91,360 ) $ 23,286 Other comprehensive loss: Unrealized gain (loss), net of tax: Foreign currency translation gain (loss) — 1,403 — (206 ) (280 ) — 917 Unrealized loss on cash flow hedges — (9,375 ) — (1 ) — — (9,376 ) Total other comprehensive loss — (7,972 ) — (207 ) (280 ) — (8,459 ) Comprehensive income 23,282 24,210 — 1,324 57,371 (91,360 ) 14,827 Comprehensive income attributable to noncontrolling interest — — — — (4 ) — (4 ) Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 23,282 $ 24,210 $ — $ 1,324 $ 57,367 $ (91,360 ) $ 14,823 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Three Months Ended September 30, 2018 (dollars in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Net income $ 35,218 $ 41,283 $ — $ 18,725 $ 58,324 $ (118,322 ) $ 35,228 Other comprehensive income: Unrealized gain (loss), net of tax: Foreign currency translation (loss) gain — (857 ) — 610 182 — (65 ) Unrealized gain on cash flow hedges — 2,000 — 10 — — 2,010 Total other comprehensive income — 1,143 — 620 182 — 1,945 Comprehensive income 35,218 42,426 — 19,345 58,506 (118,322 ) 37,173 Comprehensive income attributable to noncontrolling interest — — — — (10 ) — (10 ) Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 35,218 $ 42,426 $ — $ 19,345 $ 58,496 $ (118,322 ) $ 37,163 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME For the Nine Months Ended September 30, 2019 (dollars in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Net income $ 29,255 $ 53,810 $ — $ 101,235 $ 57,641 $ (212,664 ) $ 29,277 Other comprehensive (loss) income: Unrealized gain (loss), net of tax: Foreign currency translation (loss) gain — (298 ) — 1,101 121 — 924 Unrealized (loss) gain on cash flow hedges — (32,669 ) — 49 — — (32,620 ) Total other comprehensive (loss) income — (32,967 ) — 1,150 121 — (31,696 ) Comprehensive income 29,255 20,843 — 102,385 57,762 (212,664 ) (2,419 ) Comprehensive income attributable to noncontrolling interest — — — — (22 ) — (22 ) Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 29,255 $ 20,843 $ — $ 102,385 $ 57,740 $ (212,664 ) $ (2,441 ) (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Nine Months Ended September 30, 2018 (dollars in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Net income $ 298,476 $ 320,082 $ — $ 111,817 $ 313,337 $ (745,214 ) $ 298,498 Other comprehensive income (loss): Unrealized gain (loss), net of tax: Foreign currency translation gain (loss) — 1,048 — (926 ) (300 ) — (178 ) Unrealized gain on cash flow hedges — 15,238 — 8 — — 15,246 Total other comprehensive income (loss) — 16,286 — (918 ) (300 ) — 15,068 Comprehensive income 298,476 336,368 — 110,899 313,037 (745,214 ) 313,566 Comprehensive income attributable to noncontrolling interest — — — — (22 ) — (22 ) Comprehensive income attributable to Sabra Health Care REIT, Inc. $ 298,476 $ 336,368 $ — $ 110,899 $ 313,015 $ (745,214 ) $ 313,544 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes.
Condensed Consolidating Statement of Cash Flows	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Nine Months Ended September 30, 2019 (in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Net cash provided by operating activities $ 267,509 $ — $ — $ 487 $ 8,985 $ — $ 276,981 Cash flows from investing activities: Acquisition of real estate — — — (14,977 ) — — (14,977 ) Origination and fundings of loans receivable — — — (6,018 ) (3,423 ) — (9,441 ) Additions to real estate (107 ) — — (8,314 ) (7,564 ) — (15,985 ) Repayments of loans receivable — — — 124 13,637 — 13,761 Repayments of preferred equity investments — — — 3,672 — — 3,672 Net proceeds from the sales of real estate — — — 21,586 300,129 — 321,715 Buyout of noncontrolling interests — — — (200 ) — — (200 ) Distribution from subsidiaries 5,139 5,139 — — — (10,278 ) — Intercompany financing (346,815 ) 301,044 — — — 45,771 — Net cash (used in) provided by investing activities (341,783 ) 306,183 — (4,127 ) 302,779 35,493 298,545 Cash flows from financing activities: Net repayments of revolving credit facility — (424,000 ) — — — — (424,000 ) Proceeds from issuance of senior unsecured notes — 297,039 — — — — 297,039 Principal payments on senior unsecured notes — (500,000 ) — — — (500,000 ) Principal payments on secured debt — — — — (2,566 ) — (2,566 ) Payments of deferred financing costs — (14,001 ) — — — — (14,001 ) Payments related to extinguishment of debt — (6,897 ) — — — — (6,897 ) Distributions to noncontrolling interest — — — — (116 ) — (116 ) Issuance of common stock, net 302,030 — — — — — 302,030 Dividends paid on common stock (247,222 ) — — — — — (247,222 ) Distribution to parent — (5,139 ) — — (5,139 ) 10,278 — Intercompany financing — 346,815 — 2,637 (303,681 ) (45,771 ) — Net cash provided by (used in) financing activities 54,808 (306,183 ) — 2,637 (311,502 ) (35,493 ) (595,733 ) Net (decrease) increase in cash, cash equivalents and restricted cash (19,466 ) — — (1,003 ) 262 — (20,207 ) Effect of foreign currency translation on cash, cash equivalents and restricted cash — — — 142 69 — 211 Cash, cash equivalents and restricted cash, beginning of period 40,835 — — 5,328 13,495 — 59,658 Cash, cash equivalents and restricted cash, end of period $ 21,369 $ — $ — $ 4,467 $ 13,826 $ — $ 39,662 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Nine Months Ended September 30, 2018 (in thousands) (unaudited) Combined Non-Guarantor Subsidiaries of 2026 Notes (6) Parent (1) Operating Partnership (2) Sabra Capital Corporation (3) Combined (4) Combined Non- (5) Elimination Consolidated Net cash provided by operating activities $ 271,511 $ — $ — $ 1,038 $ 10,475 $ — $ 283,024 Cash flows from investing activities: Acquisition of real estate — — — (54,715 ) (184,286 ) — (239,001 ) Origination and fundings of loans receivable — — — (2,650 ) (38,798 ) — (41,448 ) Origination and fundings of preferred equity investments — — — (5,285 ) — — (5,285 ) Additions to real estate (40 ) — — (5,763 ) (15,892 ) — (21,695 ) Repayments of loans receivable — — — 6,534 41,748 — 48,282 Repayments of preferred equity investments — — — 6,491 — — 6,491 Investment in unconsolidated JV — — — — (354,461 ) — (354,461 ) Net proceeds from the sales of real estate — — — 79,738 211,126 — 290,864 Distribution from subsidiaries 5,421 5,421 — — — (10,842 ) — Intercompany financing (369,732 ) (347,720 ) — — — 717,452 — Net cash (used in) provided by investing activities (364,351 ) (342,299 ) — 24,350 (340,563 ) 706,610 (316,253 ) Cash flows from financing activities: Net repayments of revolving credit facility — (22,000 ) — — — — (22,000 ) Principal payments on secured debt — — — — (3,202 ) — (3,202 ) Payments of deferred financing costs — (12 ) — — — — (12 ) Distributions to noncontrolling interest — — — — (107 ) — (107 ) Preferred stock redemption (143,750 ) — — — — — (143,750 ) Issuance of common stock, net (499 ) — — — — — (499 ) Dividends paid on common and preferred stock (244,978 ) — — — — — (244,978 ) Distribution to parent — (5,421 ) — — (5,421 ) 10,842 — Intercompany financing — 369,732 — (28,697 ) 376,417 (717,452 ) — Net cash (used in) provided by financing activities (389,227 ) 342,299 — (28,697 ) 367,687 (706,610 ) (414,548 ) Net (decrease) increase in cash, cash equivalents and restricted cash (482,067 ) — — (3,309 ) 37,599 — (447,777 ) Effect of foreign currency translation on cash, cash equivalents and restricted cash — — — (82 ) (74 ) — (156 ) Cash, cash equivalents and restricted cash, beginning of period 511,670 — — 6,761 69,018 — 587,449 Cash, cash equivalents and restricted cash, end of period $ 29,603 $ — $ — $ 3,370 $ 106,543 $ — $ 139,516 (1) The Parent Company guarantees the 2023 Notes, the 2024 Notes and the 2026 Notes. (2) The Operating Partnership is the co-issuer of the 2023 Notes and the 2024 Notes and the issuer of the 2026 Notes. (3) Sabra Capital Corporation is the co-issuer of the 2023 Notes and the 2024 Notes. (4) The Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2023 Notes and the 2024 Notes. (5) The Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes consist of the subsidiaries that do not guarantee the 2023 Notes and the 2024 Notes. (6) None of Sabra Capital Corporation, the Combined Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes, nor the Combined Non-Guarantor Subsidiaries of the 2023 Notes and the 2024 Notes guarantee the 2026 Notes.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Principles of Consolidation and Basis of Presentation (Details)	Sep. 30, 2019Investment
Accounting Policies [Abstract]
Number of investments in loans accounted for as real estate joint ventures	0

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Investment in Unconsolidated Joint Venture (Details) $ in Thousands	Jan. 02, 2018USD ($)Propertydirector	Sep. 30, 2019USD ($)Property	Dec. 31, 2018USD ($)
Schedule of Equity Method Investments [Line Items]
Investment in joint venture		$ 324,324	$ 340,120
Enlivant Joint Venture
Schedule of Equity Method Investments [Line Items]
Number of properties | Property	172
Gross proceeds from sale of senior housing communities		$ 6,300
Enlivant Joint Venture | Senior Housing Communities
Schedule of Equity Method Investments [Line Items]
Number of senior housing communites sold | Property		2
Enlivant Joint Venture
Schedule of Equity Method Investments [Line Items]
Cash contributed to acquire equity interests	$ 352,700
Equity interest in joint venture	49.00%
Outstanding indebtedness	$ 791,300
Net working capital	$ 22,900
Number of directors appointed by Sabra | director	3
Number of directors on board | director	7
Aggregate net loss on sale of real estate		$ 1,700
Investment in joint venture		$ 324,300

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Net Investment in Direct Financing Lease (Details) - Skilled Nursing Transitional Care Facilities $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)Property	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)Property	Sep. 30, 2018USD ($)
Lessor, Lease, Description [Line Items]
Net investment in direct financing lease	$ 23.8		$ 23.8
Number of properties in direct financing lease | Property	1		1
Undiscounted rental payments	$ 4.4		$ 4.4
Unguaranteed residual value	24.7		24.7
Unearned lease income	5.3		5.3
Lease income	0.7	$ 0.6	2	$ 1.9
Minimum lease payments contractually due under direct financing leases
Due in the remainder of 2019	0.6		0.6
Due in 2020	2.3		2.3
Due in 2021	$ 2.1		$ 2.1

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Recently Issued Accounting Update (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease liability	$ 9,800	$ 9,800
Operating lease right-of-use asset	9,400	9,400
Variable lease revenue	4,000	13,000
Variable lease expense	$ 4,000	$ 13,000
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease liability			$ 10,000
Operating lease right-of-use asset			10,000
Reduction to equity and accounts receivable, prepaid expenses and other assets, net, as of the date of adoption			32,502
Straight-line rental income receivables			17,500
Cash rent receivable			$ 15,000

RECENT REAL ESTATE ACQUISITIO_3

RECENT REAL ESTATE ACQUISITIONS - Narrative (Details) - Recent Real Estate Acquisitions $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)Property	Sep. 30, 2018USD ($)Property
Business Acquisition [Line Items]
Number of acquired properties			2
Total revenues | $	$ 0.2	$ 11.2	$ 0.2	$ 31.5
Net income attributable to common stockholders | $	$ 0.2	$ 3.2	$ 0.2	$ 9.3
Tenant Origination and Absorption Costs
Business Acquisition [Line Items]
Weighted average amortization period of finite-lived intangible assets			15 years	13 years
Tenant Relationship
Business Acquisition [Line Items]
Weighted average amortization period of finite-lived intangible assets			25 years	22 years
Senior Housing - Managed
Business Acquisition [Line Items]
Number of acquired properties				11
Senior Housing Facilities
Business Acquisition [Line Items]
Number of acquired properties				7
Skilled Nursing/Transitional Care
Business Acquisition [Line Items]
Number of acquired properties				2

RECENT REAL ESTATE ACQUISITIO_4

RECENT REAL ESTATE ACQUISITIONS - Purchase Price Allocation for Recent Real Estate Acquisitions (Details) - Recent Real Estate Acquisitions - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 30, 2018
Business Acquisition [Line Items]
Land	$ 2,040	$ 28,089
Building and improvements	12,652	208,678
Total consideration	14,977	239,001
Tenant origination and absorption costs intangible assets
Business Acquisition [Line Items]
Tenant intangible assets	234	1,669
Tenant relationship intangible assets
Business Acquisition [Line Items]
Tenant intangible assets	$ 51	$ 565

REAL ESTATE PROPERTIES HELD F_3

REAL ESTATE PROPERTIES HELD FOR INVESTMENT - Real Estate Properties Held for Investment (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)Bedfacility	Dec. 31, 2018USD ($)Bedfacility
Real Estate Properties [Line Items]
Building and improvements	$ 5,018,346	$ 5,388,102
Furniture and equipment	235,762	237,145
Land improvements	1,415	1,254
Land	592,251	629,382
Total Real Estate at Cost	5,847,774	6,255,883
Accumulated Depreciation	(502,777)	(402,338)
Total Real Estate Investments, Net	$ 5,344,997	$ 5,853,545
Operating Segments
Real Estate Properties [Line Items]
Number of Properties | facility	434	470
Number of Beds/Units | Bed	43,553	47,648
Total Real Estate at Cost	$ 5,847,033	$ 6,255,249
Accumulated Depreciation	(502,426)	(402,021)
Total Real Estate Investments, Net	5,344,607	5,853,228
Corporate Level
Real Estate Properties [Line Items]
Total Real Estate at Cost	741	634
Accumulated Depreciation	(351)	(317)
Total Real Estate Investments, Net	$ 390	$ 317
Skilled Nursing/Transitional Care | Operating Segments
Real Estate Properties [Line Items]
Number of Properties | facility	304	335
Number of Beds/Units | Bed	33,879	37,628
Total Real Estate at Cost	$ 3,711,702	$ 4,094,484
Accumulated Depreciation	(285,138)	(224,942)
Total Real Estate Investments, Net	$ 3,426,564	$ 3,869,542
Senior Housing - Leased | Operating Segments
Real Estate Properties [Line Items]
Number of Properties | facility	62	90
Number of Beds/Units | Bed	4,011	7,332
Total Real Estate at Cost	$ 636,273	$ 1,237,790
Accumulated Depreciation	(72,716)	(125,902)
Total Real Estate Investments, Net	$ 563,557	$ 1,111,888
Senior Housing - Managed
Real Estate Properties [Line Items]
Number of senior housing communities transferred into portfolio | facility	21
Senior Housing - Managed | Operating Segments
Real Estate Properties [Line Items]
Number of Properties | facility	44	23
Number of Beds/Units | Bed	4,470	1,603
Total Real Estate at Cost	$ 863,130	$ 301,739
Accumulated Depreciation	(101,426)	(19,537)
Total Real Estate Investments, Net	$ 761,704	$ 282,202
Specialty Hospitals and Other | Operating Segments
Real Estate Properties [Line Items]
Number of Properties | facility	24	22
Number of Beds/Units | Bed	1,193	1,085
Total Real Estate at Cost	$ 635,928	$ 621,236
Accumulated Depreciation	(43,146)	(31,640)
Total Real Estate Investments, Net	$ 592,782	$ 589,596

REAL ESTATE PROPERTIES HELD F_4

REAL ESTATE PROPERTIES HELD FOR INVESTMENT - Operating Leases (Details) $ in Thousands	Apr. 01, 2019USD ($)facility	May 31, 2019facility	Mar. 31, 2019USD ($)	Sep. 30, 2019USD ($)facility	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)facility	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)	Dec. 19, 2018facility
Real Estate Properties [Line Items]
Weighted-average remaining term of operating leases				8 years		8 years
Security deposit liability				$ 7,900		$ 7,900		$ 12,400
Letters of credit deposited				83,000		83,000		98,000
Tenant deposits for future real estate taxes, insurance expenditures, and tenant improvements				14,100		14,100		$ 17,500
Portion of settlement applied to post-petition rent						6,200
Impairment of real estate				$ 13,966	$ 0	119,102	$ 1,413
Non-cash lease termination income						$ 9,725	$ 0
Minimum
Real Estate Properties [Line Items]
Operating lease expiration term				1 year		1 year
Maximum
Real Estate Properties [Line Items]
Operating lease expiration term				15 years		15 years
Holiday
Real Estate Properties [Line Items]
Number of properties subject to the master lease | facility									21
Lease termination income	$ 66,900
Cash consideration received	57,200
Non-cash lease termination income	$ 9,700
Senior Care Centers
Real Estate Properties [Line Items]
Settlement amount			$ 9,500
Senior Care Centers Sale Facilities
Real Estate Properties [Line Items]
Impairment of real estate						$ 95,200
Impairment of real estate related to indemnity						$ 10,200
Senior Care Centers Sale Facilities | Senior Care Centers
Real Estate Properties [Line Items]
Number of facilities sold | facility	28
Aggregate sale price of facility	$ 282,500
Senior Housing - Managed Communities | Operating Segments
Real Estate Properties [Line Items]
Number of properties | facility				44		44
Skilled Nursing Transitional Care Facilities | Senior Care Centers Sale Facilities
Real Estate Properties [Line Items]
Number of facilities sold | facility	26
Number of properties transitioned | facility		8
Number of properties expected to be sold | facility		2
Senior Housing Facilities | Senior Care Centers Sale Facilities
Real Estate Properties [Line Items]
Number of facilities sold | facility	2

REAL ESTATE PROPERTIES HELD F_5

REAL ESTATE PROPERTIES HELD FOR INVESTMENT - Future Minimum Rental Payments Receivable for Properties Held for Investment Under Non-Cancelable Operating Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Future minimum rental payments from the Company’s properties held for investment under non-cancelable operating leases:
October 1 through December 31, 2019	$ 109,663
2020	425,610
2021	422,465
2022	398,608
2023	381,472
Thereafter	2,023,764
Total	$ 3,761,582
Future minimum rental payments from the Company’s properties held for investment under non-cancelable operating leases:
2019		$ 465,766
2020		456,207
2021		452,346
2022		454,216
2023		437,277
Thereafter		2,407,064
Total		$ 4,672,876

REAL ESTATE PROPERTIES HELD F_6

REAL ESTATE PROPERTIES HELD FOR INVESTMENT - Senior Housing - Managed Communities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Real Estate [Line Items]
Resident fees and services	$ 36,405	$ 17,403	$ 89,537	$ 52,426
Ancillary Services
Real Estate [Line Items]
Resident fees and services	$ 200	$ 100	$ 500	$ 400

IMPAIRMENT OF REAL ESTATE AND_2

IMPAIRMENT OF REAL ESTATE AND DISPOSITIONS (Details) $ in Thousands	Apr. 01, 2019USD ($)facility	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)facility	Sep. 30, 2018USD ($)facility	Sep. 30, 2017USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate impairment		$ 13,966	$ 0	$ 119,102	$ 1,413
Senior Care Centers Facilities
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties impaired | facility				3
Skilled Nursing Transitional Care Facilities And Senior Housing Facilities [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate impairment				$ 23,900
Skilled Nursing Transitional Care Facilities
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties impaired | facility				5
Senior Housing Facilities
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties impaired | facility				4
Senior Housing Facilities | Dispositions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate impairment					$ 500
Number of facilities sold with related impairment | facility					1
Senior Care Centers Sale Facilities
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate impairment				$ 95,200
Senior Care Centers Sale Facilities | Senior Care Centers
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of facilities sold | facility	28
Aggregate sale price of facility	$ 282,500
2019 Dispositions | Skilled Nursing Transitional Care Facilities And Senior Housing Facilities [Member] | Dispositions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate sale price of facility		315,000		315,000
Carrying value of assets and liabilities of facility		$ 313,800		313,800
Net loss on sale				1,200
Net income from facilities				$ 2,800	$ 22,300
2019 Dispositions | Skilled Nursing Transitional Care Facilities | Dispositions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of facilities sold | facility				31
2019 Dispositions | Senior Housing Facilities | Dispositions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of facilities sold | facility				7
2018 Dispositions | Skilled Nursing Transitional Care Facilities And Senior Housing Facilities [Member] | Dispositions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate sale price of facility			290,900		290,900
Carrying value of assets and liabilities of facility			$ 148,500		148,500
Net loss on sale					142,400
Net income from facilities					$ 12,500	$ 24,900
2018 Dispositions | Skilled Nursing Transitional Care Facilities | Dispositions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of facilities sold | facility					36
2018 Dispositions | Senior Housing Facilities | Dispositions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of facilities sold | facility					4

LOANS RECEIVABLE AND OTHER IN_3

LOANS RECEIVABLE AND OTHER INVESTMENTS - Composition of Loans Receivable and Other Investments (Details) $ in Thousands	Sep. 30, 2019USD ($)preferred_equity_investmentInvestmentloan	Dec. 31, 2018USD ($)
Loans Receivable:
Quantity | loan	20
Principal balance	$ 68,486	$ 96,492
Book Value	$ 64,608	70,718
Weighted Average Contractual Interest Rate / Rate of Return	7.70%
Weighted Average Annualized Effective Interest Rate / Rate of Return	8.00%
Loan loss reserve	$ (783)	(1,258)
Loans receivable, net amount	$ 63,825	69,460
Other Investments:
Quantity | preferred_equity_investment	9
Principal Balance	$ 44,005	43,851
Book Value	$ 44,417	44,262
Weighted Average Contractual Interest Rate / Rate of Return	12.00%
Weighted Average Annualized Effective Interest Rate / Rate of Return	12.00%
Total Quantity | Investment	29
Total Principal Balance	$ 112,491
Total Book Value	$ 108,242	113,722
Total Weighted Average Contractual Interest Rate / Rate of Return	9.40%
Total Weighted Average Annualized Effective Interest Rate / Rate of Return	9.60%
Mortgage
Loans Receivable:
Quantity | loan	1
Principal balance	$ 19,000
Book Value	$ 19,000	18,577
Weighted Average Contractual Interest Rate / Rate of Return	10.00%
Weighted Average Annualized Effective Interest Rate / Rate of Return	10.00%
Construction
Loans Receivable:
Quantity | loan	2
Principal balance	$ 5,884
Book Value	$ 5,935	4,629
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 | loan	0
Principal balance	$ 0
Book Value	$ 0	2,188
Other
Loans Receivable:
Quantity | loan	17
Principal balance	$ 43,602
Book Value	$ 39,673	$ 45,324
Weighted Average Contractual Interest Rate / Rate of Return	6.70%
Weighted Average Annualized Effective Interest Rate / Rate of Return	7.10%

LOANS RECEIVABLE AND OTHER IN_4

LOANS RECEIVABLE AND OTHER INVESTMENTS - Narrative (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)loan	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)loan	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans receivable investments | loan	20		20
Principal balance	$ 68,486,000		$ 68,486,000		$ 96,492,000
Loan loss reserve	$ 783,000		$ 783,000		$ 1,258,000
Number of loans receivable considered to be impaired | loan					1
Principal balance of impaired loan receivable					$ 1,300,000
Number of loans more than 90 days past due still accruing interest | loan					1
Book value of loans more than 90 days past due and still accruing interest					$ 4,300,000
Nonperforming Financial Instruments
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans receivable on nonaccrual status | loan	2		2		2
Book value of loans receivable on nonaccrual status	$ 0		$ 0		$ 1,300,000
Specific Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan loss reserve in period	0	$ 600,000	1,200,000	$ 600,000
Loan loss reserve	0		0		700,000
Portfolio-Based Loans Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Increase (decrease) in portfolio-based loan loss reserve	100,000	$ 300,000	200,000	$ 600,000
Loan loss reserve	$ 800,000		$ 800,000		$ 600,000
Receivables Acquired with Deteriorated Credit Quality
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans receivable investments | loan	6		6		7
Principal balance	$ 2,800,000		$ 2,800,000		$ 27,700,000
Book value of loans receivable	$ 1,200,000		$ 1,200,000		$ 4,200,000
Number of loans repaid | loan			1

LOANS RECEIVABLE AND OTHER IN_5

LOANS RECEIVABLE AND OTHER INVESTMENTS - Changes in the Accretable Yield (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
Accretable yield, beginning of period	$ 112	$ 1,081	$ 449	$ 2,483
Accretion recognized in earnings	(53)	(348)	(357)	(2,477)
Reduction due to payoff	0	0	(33)	0
Net reclassification from nonaccretable difference	0	0	0	727
Accretable yield, end of period	$ 59	$ 733	$ 59	$ 733

DEBT - Secured Debt (Details)

DEBT - Secured Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Deferred financing costs, net	$ 19,847
Secured Debt
Debt Instrument [Line Items]
Deferred financing costs, net	1,726	$ 1,800
Secured Debt | Fixed Rate
Debt Instrument [Line Items]
Principal balance	$ 115,370	$ 117,464
Weighted average interest rate	3.67%

DEBT - Senior Unsecured Notes (

DEBT - Senior Unsecured Notes (Details) - USD ($)	Sep. 30, 2019	May 29, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Premium, net	$ 13,188,000
Deferred financing costs	19,847,000
Senior Notes
Debt Instrument [Line Items]
Principal balance	1,100,000,000		$ 1,300,000,000
Premium, net	13,188,000		14,500,000
Deferred financing costs	6,704,000		7,100,000
Senior Notes | 5.5% Senior Unsecured Notes due 2021
Debt Instrument [Line Items]
Principal balance	$ 0		500,000,000
Interest rate	5.50%
Senior Notes | 5.375% Senior Unsecured Notes due 2023
Debt Instrument [Line Items]
Principal balance	$ 200,000,000		200,000,000
Interest rate	5.375%
Senior Notes | 4.80% Senior Unsecured Notes Due 2024
Debt Instrument [Line Items]
Principal balance	$ 300,000,000		0
Interest rate	4.80%	4.80%
Senior Notes | 5.125% Senior Unsecured Notes due 2026
Debt Instrument [Line Items]
Principal balance	$ 500,000,000		500,000,000
Interest rate	5.125%
Senior Notes | 5.38% Senior Unsecured Notes due 2027
Debt Instrument [Line Items]
Principal balance	$ 100,000,000		$ 100,000,000
Interest rate	5.38%

DEBT - Narrative (Details)

DEBT - Narrative (Details)

Oct. 27, 2019USD ($)

Oct. 07, 2019USD ($)

Sep. 09, 2019USD ($)extension_option

Jun. 29, 2019USD ($)

May 29, 2019USD ($)

Aug. 17, 2017USD ($)

Sep. 30, 2019USD ($)instrument

Sep. 30, 2018USD ($)

Sep. 30, 2019USD ($)instrument

Sep. 30, 2018USD ($)

Sep. 09, 2019CAD ($)extension_option

Dec. 31, 2018USD ($)

Aug. 17, 2017CAD ($)

Aug. 10, 2016USD ($)agreement

Aug. 10, 2016CAD ($)agreement

Jun. 10, 2015CAD ($)

Debt Instrument [Line Items]

Net proceeds from issuance of senior unsecured notes

$ 297,039,000

$ 0

Loss on extinguishment of debt

$ 644,000

$ 0

10,763,000

0

Payments made to noteholders and legal fees for early redemption

6,897,000

0

Amount outstanding under credit facility

200,000,000

200,000,000

$ 624,000,000

Interest expense

29,255,000

37,305,000

99,181,000

109,880,000

Non-cash interest expense

2,500,000

$ 2,600,000

7,800,000

$ 7,500,000

Accrued interest

15,100,000

15,100,000

24,000,000

Prior Credit Agreement

Debt Instrument [Line Items]

Loss on extinguishment of debt

600,000

$ 600,000

Prior Credit Agreement | Revolving Credit Facility

Debt Instrument [Line Items]

Borrowing capacity

$ 1,000,000,000

Borrowing capacity in certain foreign currencies (up to)

$ 175,000,000

Number of extension options | extension_option

2

2

Extension period

6 months

Prior Credit Agreement | Revolving Credit Facility | Minimum

Debt Instrument [Line Items]

Annum percent unused borrowing fee

0.125%

Prior Credit Agreement | Revolving Credit Facility | Maximum

Debt Instrument [Line Items]

Annum percent unused borrowing fee

0.30%

Prior Credit Agreement | Revolving Credit Facility | Prime Rate

Debt Instrument [Line Items]

Basis spread on variable rate

0.50%

Prior Credit Agreement | Revolving Credit Facility | Base Rate

Debt Instrument [Line Items]

Basis spread on variable rate

1.00%

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

Debt Instrument [Line Items]

Basis spread on variable rate

0.00%

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

Debt Instrument [Line Items]

Basis spread on variable rate

0.65%

Prior Credit Agreement | Revolving Credit Facility | LIBOR | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

0.875%

Prior Credit Agreement | Revolving Credit Facility | LIBOR | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

1.65%

Prior Credit Agreement | Line of Credit

Debt Instrument [Line Items]

Borrowing capacity

$ 2,500,000,000

Fifth Amended and Restated Credit Agreement | Revolving Credit Facility

Debt Instrument [Line Items]

Borrowing capacity

$ 1,000,000,000

Borrowing capacity in certain foreign currencies (up to)

$ 175,000,000

Extension period

6 months

Amount outstanding under credit facility

200,000,000

$ 200,000,000

Available borrowing capacity

$ 800,000,000

$ 800,000,000

Interest rate

3.17%

3.17%

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

Debt Instrument [Line Items]

Annum percent unused borrowing fee

0.125%

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

Debt Instrument [Line Items]

Annum percent unused borrowing fee

0.30%

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

Debt Instrument [Line Items]

Basis spread on variable rate

0.00%

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

Debt Instrument [Line Items]

Basis spread on variable rate

0.45%

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

Debt Instrument [Line Items]

Basis spread on variable rate

0.775%

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

Debt Instrument [Line Items]

Basis spread on variable rate

1.45%

Fifth Amended and Restated Credit Agreement | Line of Credit

Debt Instrument [Line Items]

Borrowing capacity

$ 2,750,000,000

Senior Notes

Debt Instrument [Line Items]

Aggregate principal amount

$ 1,100,000,000

$ 1,100,000,000

$ 1,300,000,000

Senior Notes | 5.375% Senior Unsecured Notes due 2023

Debt Instrument [Line Items]

Interest rate

5.375%

5.375%

Senior Notes | 5.375% Senior Unsecured Notes due 2023 | Subsequent Event

Debt Instrument [Line Items]

Aggregate principal amount redeemed

$ 200,000,000

Percentage of principal amount redeemed

101.792%

Loss on extinguishment of debt

$ 5,600,000

Payments made to noteholders and legal fees for early redemption

3,600,000

Write-offs associated with unamortized deferred financing and premium costs

$ 2,000,000

Senior Notes | 4.80% Senior Unsecured Notes Due 2024

Debt Instrument [Line Items]

Aggregate principal amount

$ 300,000,000

Net proceeds from issuance of senior unsecured notes

$ 295,300,000

Interest rate

4.80%

4.80%

4.80%

Senior Notes | 4.80% Senior Unsecured Notes Due 2024 | Redemption Period One

Debt Instrument [Line Items]

Redemption price percentage

100.00%

Senior Notes | 4.80% Senior Unsecured Notes Due 2024 | Redemption Period Two

Debt Instrument [Line Items]

Redemption price percentage

100.00%

Senior Notes | 5.5% Senior Unsecured Notes due 2021

Debt Instrument [Line Items]

Interest rate

5.50%

5.50%

Aggregate principal amount redeemed

$ 500,000,000

Percentage of principal amount redeemed

101.375%

Loss on extinguishment of debt

$ 10,100,000

Payments made to noteholders and legal fees for early redemption

6,900,000

Write-offs associated with unamortized deferred financing and premium costs

$ 3,200,000

Senior Notes | 3.90% Senior Unsecured Notes due 2029 | Subsequent Event

Debt Instrument [Line Items]

Aggregate principal amount

$ 350,000,000

Net proceeds from issuance of senior unsecured notes

$ 340,500,000

Interest rate

3.90%

Senior Notes | 3.90% Senior Unsecured Notes due 2029 | Subsequent Event | Redemption Period One

Debt Instrument [Line Items]

Redemption price percentage

100.00%

Senior Notes | 3.90% Senior Unsecured Notes due 2029 | Subsequent Event | Redemption Period Two

Debt Instrument [Line Items]

Redemption price percentage

100.00%

Senior Notes | 5.125% Senior Unsecured Notes due 2026

Debt Instrument [Line Items]

Interest rate

5.125%

5.125%

Senior Notes | 5.38% Senior Unsecured Notes due 2027

Debt Instrument [Line Items]

Interest rate

5.38%

5.38%

U.S. Dollar Term Loan

Debt Instrument [Line Items]

Aggregate principal amount

$ 245,000,000

U.S. Dollar Term Loan | Interest Rate Swap

Debt Instrument [Line Items]

Fixed interest rate under swap

0.90%

0.90%

Number of derivative agreements | agreement

2

2

U.S. Dollar Term Loan | Care Capital Properties

Debt Instrument [Line Items]

Aggregate principal amount

$ 600,000,000

$ 600,000,000

U.S. Dollar Term Loan | Care Capital Properties | Interest Rate Swap

Debt Instrument [Line Items]

Fixed interest rate under swap

1.31%

1.31%

Number of derivative agreements | instrument

8

8

U.S. Dollar Term Loan | Prior Credit Agreement

Debt Instrument [Line Items]

Aggregate principal amount

$ 1,100,000,000

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

Debt Instrument [Line Items]

Basis spread on variable rate

0.00%

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

Debt Instrument [Line Items]

Basis spread on variable rate

0.90%

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

Debt Instrument [Line Items]

Basis spread on variable rate

0.90%

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

Debt Instrument [Line Items]

Basis spread on variable rate

1.90%

U.S. Dollar Term Loan | Prior Credit Agreement | Redemption Period Two

Debt Instrument [Line Items]

Aggregate principal amount

$ 200,000,000

U.S. Dollar Term Loan | Fifth Amended and Restated Credit Agreement

Debt Instrument [Line Items]

Aggregate principal amount

$ 1,100,000,000

U.S. Dollar Term Loan | Fifth Amended and Restated Credit Agreement | Base Rate | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

0.00%

U.S. Dollar Term Loan | Fifth Amended and Restated Credit Agreement | Base Rate | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

0.65%

U.S. Dollar Term Loan | Fifth Amended and Restated Credit Agreement | LIBOR | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

0.85%

U.S. Dollar Term Loan | Fifth Amended and Restated Credit Agreement | LIBOR | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

1.65%

U.S. Dollar Term Loan | Fifth Amended and Restated Credit Agreement | Redemption Period One

Debt Instrument [Line Items]

Aggregate principal amount

$ 250,000,000

U.S. Dollar Term Loan | Fifth Amended and Restated Credit Agreement | Redemption Period Two

Debt Instrument [Line Items]

Aggregate principal amount

$ 350,000,000

Canadian Dollar Term Loan

Debt Instrument [Line Items]

Aggregate principal amount

$ 35,000,000

$ 90,000,000

Fixed interest rate under swap

1.59%

Canadian Dollar Term Loan | Interest Rate Swap

Debt Instrument [Line Items]

Fixed interest rate under swap

0.93%

0.93%

Number of derivative agreements | agreement

1

1

Canadian Dollar Term Loan | Prior Credit Agreement

Debt Instrument [Line Items]

Aggregate principal amount

$ 125,000,000

Canadian Dollar Term Loan | Prior Credit Agreement | CDOR | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

0.90%

Canadian Dollar Term Loan | Prior Credit Agreement | CDOR | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

1.90%

Canadian Dollar Term Loan | Fifth Amended and Restated Credit Agreement

Debt Instrument [Line Items]

Aggregate principal amount

$ 125,000,000

Canadian Dollar Term Loan | Fifth Amended and Restated Credit Agreement | CDOR | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

0.85%

Canadian Dollar Term Loan | Fifth Amended and Restated Credit Agreement | CDOR | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

1.65%

DEBT - Schedule of Maturities f

DEBT - Schedule of Maturities for Outstanding Debt (Details) $ in Thousands	Sep. 09, 2019extension_option	Sep. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
October 1 through December 31, 2019		$ 869
2020		3,545
2021		18,573
2022		253,185
2023		753,282
Thereafter		1,580,316
Total Debt		2,609,770
Premium, net		13,188
Deferred financing costs, net		(19,847)
Total Debt, Net		2,603,111
Prior Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Number of extension options | extension_option	2
Extension period	6 months
Fifth Amended and Restated Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Extension period	6 months
Secured Indebtedness
Debt Instrument [Line Items]
October 1 through December 31, 2019		869
2020		3,545
2021		18,573
2022		3,185
2023		3,282
Thereafter		85,916
Total Debt		115,370
Premium, net		0
Deferred financing costs, net		(1,726)	$ (1,800)
Total Debt, Net		113,644
Revolving Credit Facility
Debt Instrument [Line Items]
October 1 through December 31, 2019		0
2020		0
2021		0
2022		0
2023		200,000
Thereafter		0
Total Debt		200,000
Premium, net		0
Deferred financing costs, net		0
Total Debt, Net		200,000
Term Loans
Debt Instrument [Line Items]
October 1 through December 31, 2019		0
2020		0
2021		0
2022		250,000
2023		350,000
Thereafter		594,400
Total Debt		1,194,400
Premium, net		0
Deferred financing costs, net		(11,417)
Total Debt, Net		1,182,983
Senior Notes
Debt Instrument [Line Items]
October 1 through December 31, 2019		0
2020		0
2021		0
2022		0
2023		200,000
Thereafter		900,000
Total Debt		1,100,000
Premium, net		13,188	14,500
Deferred financing costs, net		(6,704)	$ (7,100)
Total Debt, Net		$ 1,106,484

DERIVATIVE AND HEDGING INSTRU_3

DERIVATIVE AND HEDGING INSTRUMENTS - Narrative (Details)	1 Months Ended	3 Months Ended		9 Months Ended
	May 31, 2019USD ($)derivative	Sep. 30, 2019USD ($)derivative	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)derivative	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Derivative [Line Items]
Interest expense		$ 29,255,000	$ 37,305,000	$ 99,181,000	$ 109,880,000
Fair value of derivatives in a net liability position		7,478,000		7,478,000		$ 4,529,000
Forward Starting Interest Rate Swaps
Derivative [Line Items]
Number of derivative contracts terminated | derivative	3
Payment to counterparties upon termination of derivatives	$ 12,600,000
Credit Risk
Derivative [Line Items]
Fair value of derivatives in a net liability position		3,600,000		3,600,000
Termination value		3,400,000		3,400,000
Cash Flow Hedges | Interest Rate Swap
Derivative [Line Items]
Ineffectiveness on cash flow hedges		0		0
Ineffectiveness on cash flow hedges			0		0
Designated as Hedging Instrument
Derivative [Line Items]
Fair value of derivatives in a net liability position		$ 101,878,000		101,878,000		$ 96,229,000
Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Gains included in accumulated other comprehensive loss which are expected to be reclassified into earnings in the next 12 months				$ 1,400,000
Not Designated as Hedging Instrument | Cross Currency Interest Rate Swaps
Derivative [Line Items]
Number of derivative instruments held | derivative		1		1
Fair value of derivative asset		$ 118,000		$ 118,000
Other income related to derivatives		$ 38,000		$ 31,000
Other expense related to derivatives			$ 11,000		$ 11,000

DERIVATIVE AND HEDGING INSTRU_4

DERIVATIVE AND HEDGING INSTRUMENTS - Notional Amount of Derivatives Instruments (Details) $ in Thousands	Jan. 31, 2023USD ($)	Sep. 30, 2019USD ($)derivative	Sep. 30, 2019CAD ($)derivative	Dec. 31, 2018USD ($)	Dec. 31, 2018CAD ($)
Cross Currency Interest Rate Swaps | Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Notional amount		$ 1,490,000,000	$ 125,000	$ 1,045,000,000	$ 125,000
Cross Currency Interest Rate Swaps | Designated as Hedging Instrument | Net Investment Hedges
Derivative [Line Items]
Notional amount | $			54,676		55,401
Notional amount | $			$ 125,000		125,000
Cross Currency Interest Rate Swaps | Not Designated as Hedging Instrument
Derivative [Line Items]
Number of derivative instruments held | derivative		1	1
Cross Currency Interest Rate Swaps | Not Designated as Hedging Instrument | Net Investment Hedges
Derivative [Line Items]
Notional amount | $			$ 1,624		$ 899
Forward Starting Interest Rate Swaps - Effective August 2020 | Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Number of derivative instruments held | derivative		4	4
Forward Starting Interest Rate Collar - Effective August 2020 | Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Number of derivative instruments held | derivative		1	1
Forward Starting Interest Rate Swaps - Effective January 2021 | Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Number of derivative instruments held | derivative		2	2
Forward Starting Interest Rate Collar - Effective January 2021 | Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Number of derivative instruments held | derivative		1	1
Forward Starting Interest Rate Swaps And Forward Starting Interest Rate Collars [Member] | Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Notional amount | $		$ 645,000,000
Forward Starting Interest Rate Swaps And Forward Starting Interest Rate Collars [Member] | Designated as Hedging Instrument | Cash Flow Hedges | Forecast
Derivative [Line Items]
Notional amount | $	$ 845,000,000

DERIVATIVE AND HEDGING INSTRU_5

DERIVATIVE AND HEDGING INSTRUMENTS - Derivative and Financial Instruments Designated as Hedging Instruments (Details) $ in Thousands	Sep. 30, 2019USD ($)instrument	Dec. 31, 2018USD ($)
Assets:
Fair Value	$ 8,684	$ 29,344
Liabilities:
Fair Value	7,478	4,529
Designated as Hedging Instrument
Assets:
Fair Value	8,685	29,344
Liabilities:
Fair Value	$ 101,878	96,229
Designated as Hedging Instrument | Interest rate swaps | Cash flow | Accounts receivable, prepaid expenses and other assets, net
Assets:
Count | instrument	7
Fair Value	$ 4,617	25,184
Designated as Hedging Instrument | Interest rate swaps | Cash flow | Accounts payable and accrued liabilities
Liabilities:
Count | instrument	3
Fair Value	$ 367	0
Designated as Hedging Instrument | Forward starting interest rate swaps | Cash flow | Accounts payable and accrued liabilities
Liabilities:
Count | instrument	6
Fair Value	$ 6,267	4,529
Designated as Hedging Instrument | Cross currency interest rate swaps | Net investment | Accounts receivable, prepaid expenses and other assets, net
Assets:
Count | instrument	2
Fair Value	$ 4,068	4,160
Designated as Hedging Instrument | Forward starting interest rate collars | Cash flow | Accounts payable and accrued liabilities
Liabilities:
Count | instrument	2
Fair Value	$ 844	0
Designated as Hedging Instrument | CAD term loan | Net investment | Term loans, net
Liabilities:
Count | instrument	1
Fair Value	$ 94,400	$ 91,700

DERIVATIVE AND HEDGING INSTRU_6

DERIVATIVE AND HEDGING INSTRUMENTS - Effect of Derivative Financial Instruments on the Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Equity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) gain in other comprehensive (loss) income, cash flow hedges and net investment hedges	$ (5,835)	$ 541	$ (30,636)	$ 19,608
Interest rate products
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) gain recognized in other comprehensive (loss) income, cash flow hedges	(8,196)	2,954	(27,933)	16,091
Interest rate products | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified from accumulated other comprehensive income into income, cash flow hedges	1,173	1,001	4,781	1,584
Foreign currency products
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) gain recognized in other comprehensive (loss) income, net investment hedges	1,273	(688)	(3)	817
CAD term loan
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) gain recognized in other comprehensive (loss) income, net investment hedges	$ 1,088	$ (1,725)	$ (2,700)	$ 2,700

DERIVATIVE AND HEDGING INSTRU_7

DERIVATIVE AND HEDGING INSTRUMENTS - Gross Presentation, Effects of Offsetting, and Net Presentation of Derivatives (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Offsetting Assets:
Gross amounts of recognized assets	$ 8,684	$ 29,344
Gross amounts offset in the balance sheet, assets	0	0
Net amounts of assets presented in the balance sheet	8,684	29,344
Financial instruments, assets	(4,106)	(2,069)
Cash collateral received, assets	0	0
Net amount, assets	4,578	27,275
Offsetting Liabilities:
Gross amounts of recognized liabilities	7,478	4,529
Gross amounts offset in the balance sheet, liabilities	0	0
Liabilities presented in the balance sheet	7,478	4,529
Financial instruments, liabilities	(4,106)	(2,069)
Cash collateral received, liabilities	0	0
Net amount, liabilities	$ 3,372	$ 2,460

FAIR VALUE DISCLOSURES - Face V

FAIR VALUE DISCLOSURES - Face Values, Carrying Amounts and Fair Values of Financial Instruments (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Financial assets:
Loans receivable	$ 68,486,000	$ 96,492,000
Preferred equity investments	44,005,000	43,851,000
Senior Notes
Financial liabilities:
Financial liabilities	1,100,000,000	1,300,000,000
Secured Indebtedness
Financial liabilities:
Financial liabilities	115,370,000	117,464,000
Carrying Amount
Financial assets:
Loans receivable	63,825,000	69,460,000
Preferred equity investments	44,417,000	44,262,000
Carrying Amount | Senior Notes
Financial liabilities:
Financial liabilities	1,106,484,000	1,307,394,000
Carrying Amount | Secured Indebtedness
Financial liabilities:
Financial liabilities	113,644,000	115,679,000
Fair Value
Financial assets:
Loans receivable	61,008,000	65,797,000
Preferred equity investments	44,753,000	43,825,000
Fair Value | Senior Notes
Financial liabilities:
Financial liabilities	1,166,203,000	1,270,877,000
Fair Value | Secured Indebtedness
Financial liabilities:
Financial liabilities	$ 110,579,000	$ 101,820,000

FAIR VALUE DISCLOSURES - Fair V

FAIR VALUE DISCLOSURES - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Total
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	$ 61,008	$ 65,797
Preferred equity investments	44,753	43,825
Total | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	1,166,203	1,270,877
Total | Secured Indebtedness
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	110,579	$ 101,820
Measured on a Recurring Basis | 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
Measured on a Recurring Basis | 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
Measured on a Recurring Basis | 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
Measured on a Recurring Basis | 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
Measured on a Recurring Basis | Significant Other Observable Inputs (Level 2) | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	1,166,203
Measured on a Recurring Basis | Significant Other Observable Inputs (Level 2) | Secured Indebtedness
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0
Measured on a Recurring Basis | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	61,008
Preferred equity investments	44,753
Measured on a Recurring Basis | Significant Unobservable Inputs (Level 3) | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0
Measured on a Recurring Basis | Significant Unobservable Inputs (Level 3) | Secured Indebtedness
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	110,579
Measured on a Recurring Basis | Total
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	61,008
Preferred equity investments	44,753
Measured on a Recurring Basis | Total | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	1,166,203
Measured on a Recurring Basis | Total | Secured Indebtedness
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	$ 110,579

FAIR VALUE DISCLOSURES - Items

FAIR VALUE DISCLOSURES - Items Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	$ 8,684	$ 29,344
Financial liabilities	7,478	$ 4,529
Measured on a Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0
Financial liabilities	0
Measured on a Recurring Basis | 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
Measured on a Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Forward starting interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0
Measured on a Recurring Basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Forward starting interest rate collars
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0
Measured on a Recurring Basis | Significant Other Observable Inputs (Level 2) | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	4,617
Financial liabilities	367
Measured on a Recurring Basis | 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	4,068
Measured on a Recurring Basis | Significant Other Observable Inputs (Level 2) | Forward starting interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	6,267
Measured on a Recurring Basis | Significant Other Observable Inputs (Level 2) | Forward starting interest rate collars
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	844
Measured on a Recurring Basis | Significant Unobservable Inputs (Level 3) | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0
Financial liabilities	0
Measured on a Recurring Basis | 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
Measured on a Recurring Basis | Significant Unobservable Inputs (Level 3) | Forward starting interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0
Measured on a Recurring Basis | Significant Unobservable Inputs (Level 3) | Forward starting interest rate collars
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0
Measured on a Recurring Basis | Total | Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	4,617
Financial liabilities	367
Measured on a Recurring Basis | Total | Cross currency interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	4,068
Measured on a Recurring Basis | Total | Forward starting interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	6,267
Measured on a Recurring Basis | Total | Forward starting interest rate collars
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	$ 844

EQUITY - Preferred Stock (Detai

EQUITY - Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Millions	Jun. 01, 2018	Mar. 21, 2013	Sep. 30, 2018
Class of Stock [Line Items]
Shares of preferred stock issued (in shares)		5,750,000
Preferred stock dividend rate		7.125%
Price per share of preferred stock (in dollars per share)		$ 25
Redemption price (in dollars per share)	$ 25
Accrued and unpaid dividends (in dollars per share)	0.4453125
Total redemption price (in dollars per share)	$ 25.4453125
Redemption charge related to original issuance costs	$ 5.5
Preferred Stock
Class of Stock [Line Items]
Shares of preferred stock redeemed (in shares)	5,750,000		5,750,000

EQUITY - Common Stock (Details)

EQUITY - Common Stock (Details) - USD ($)	Feb. 25, 2019	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018	Mar. 21, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average price per share (in dollars per share)					$ 25
Tax withholding obligations incurred on behalf of employees			$ 1,300,000	$ 200,000
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued upon vesting (in shares)			115,572
ATM Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate gross proceeds possible from sales of common stock under equity distribution agreement (up to)	$ 500,000,000
Commission rate (up to)	1.50%
Shares sold under the ATM Program (in shares)		4,200,000	15,300,000
Sale of stock, average price per share (in dollars per share)		$ 21.82	$ 20.20
Gross proceeds from issuance of common stock		$ 91,200,000	$ 308,500,000
Payments for stock issuance commissions		1,300,000	4,600,000
Amount available under ATM Program		$ 191,500,000	$ 191,500,000

EQUITY - Cash Dividends on Comm

EQUITY - Cash Dividends on Common Stock Declared and Paid (Details) - $ / shares	Aug. 07, 2019	May 08, 2019	Feb. 05, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Equity [Abstract]
Common dividends (in dollars per share)	$ 0.45	$ 0.45	$ 0.45	$ 0.45	$ 0.45	$ 1.35	$ 1.35

EQUITY - Accumulated Other Comp

EQUITY - Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive (loss) income	$ 3,282,417	$ 3,260,376	$ 3,254,747	$ 3,367,258	$ 3,407,925	$ 3,437,249
Total accumulated other comprehensive (loss) income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive (loss) income	(19,395)	$ (10,936)	12,301	$ 26,357	$ 24,412	$ 11,289
Foreign currency translation loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive (loss) income	(1,269)		(2,193)
Unrealized (loss) gain on cash flow hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive (loss) income	$ (18,126)		$ 14,494

EARNINGS PER COMMON SHARE - Com

EARNINGS PER COMMON SHARE - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Numerator
Net income attributable to common stockholders	$ 23,282	$ 35,218	$ 29,255	$ 288,708
Denominator
Basic weighted average common shares and common equivalents (in shares)	190,650,400	178,317,769	183,578,254	178,309,127
Dilutive restricted stock units (in shares)	1,301,989	623,444	1,120,157	420,726
Diluted weighted average common shares (in shares)	191,952,389	178,941,213	184,698,411	178,729,853
Net income attributable to common stockholders, per:
Basic common share (in dollars per share)	$ 0.12	$ 0.20	$ 0.16	$ 1.62
Diluted common share (in dollars per share)	$ 0.12	$ 0.20	$ 0.16	$ 1.62

EARNINGS PER COMMON SHARE - Nar

EARNINGS PER COMMON SHARE - Narrative (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities not included in computation of diluted earnings per share (in shares)	0	0	430	20,500
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities not included in computation of diluted earnings per share (in shares)		0		0
Stock options outstanding (in shares)	0		0

SUMMARIZED CONDENSED CONSOLID_3

SUMMARIZED CONDENSED CONSOLIDATING INFORMATION - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Assets
Real estate investments, net of accumulated depreciation	$ 5,344,997		$ 5,853,545
Loans receivable and other investments, net	108,242		113,722
Investment in unconsolidated joint venture	324,324		340,120
Cash and cash equivalents	29,431		50,230
Restricted cash	10,231		9,428
Lease intangible assets, net	104,977		131,097
Accounts receivable, prepaid expenses and other assets, net	145,801		167,161
Intercompany	0		0
Investment in subsidiaries	0		0
Total assets	6,068,003		6,665,303
Liabilities
Secured debt, net	113,644		115,679
Revolving credit facility	200,000		624,000
Term loans, net	1,182,983		1,184,930
Senior unsecured notes, net	1,106,484		1,307,394
Accounts payable and accrued liabilities	109,401		94,827
Lease intangible liabilities, net	73,074		83,726
Intercompany	0		0
Total liabilities	2,785,586		3,410,556
Total Sabra Health Care REIT, Inc. stockholders’ equity	3,282,417		3,250,414
Noncontrolling interests	0		4,333
Total equity	3,282,417	$ 3,260,376	3,254,747	$ 3,367,258	$ 3,407,925	$ 3,437,249
Total liabilities and equity	6,068,003		6,665,303
Elimination
Assets
Real estate investments, net of accumulated depreciation	0		0
Loans receivable and other investments, net	0		0
Investment in unconsolidated joint venture	0		0
Cash and cash equivalents	0		0
Restricted cash	0		0
Lease intangible assets, net	0		0
Accounts receivable, prepaid expenses and other assets, net	(7,545)		(11,019)
Intercompany	(3,938,992)		(4,618,728)
Investment in subsidiaries	(3,080,284)		(2,921,593)
Total assets	(7,026,821)		(7,551,340)
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	(7,545)		(11,019)
Lease intangible liabilities, net	0		0
Intercompany	(3,938,992)		(4,618,728)
Total liabilities	(3,946,537)		(4,629,747)
Total Sabra Health Care REIT, Inc. stockholders’ equity			(2,921,593)
Noncontrolling interests			0
Total equity	(3,080,284)		(2,921,593)
Total liabilities and equity	(7,026,821)		(7,551,340)
Parent Company | Reportable Legal Entities
Assets
Real estate investments, net of accumulated depreciation	390		317
Loans receivable and other investments, net	(783)		(560)
Investment in unconsolidated joint venture	0		0
Cash and cash equivalents	21,369		40,835
Restricted cash	0		0
Lease intangible assets, net	0		0
Accounts receivable, prepaid expenses and other assets, net	3,693		798
Intercompany	1,992,202		1,972,059
Investment in subsidiaries	1,298,119		1,258,715
Total assets	3,314,990		3,272,164
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	32,573		21,750
Lease intangible liabilities, net	0		0
Intercompany	0		0
Total liabilities	32,573		21,750
Total Sabra Health Care REIT, Inc. stockholders’ equity			3,250,414
Noncontrolling interests			0
Total equity	3,282,417		3,250,414
Total liabilities and equity	3,314,990		3,272,164
Operating Partnership | Reportable Legal Entities
Assets
Real estate investments, net of accumulated depreciation	0		0
Loans receivable and other investments, net	0		0
Investment in unconsolidated joint venture	0		0
Cash and cash equivalents	0		0
Restricted cash	0		0
Lease intangible assets, net	0		0
Accounts receivable, prepaid expenses and other assets, net	21,559		37,075
Intercompany	1,946,790		2,646,669
Investment in subsidiaries	1,748,807		1,629,795
Total assets	3,717,156		4,313,539
Liabilities
Secured debt, net	0		0
Revolving credit facility	200,000		624,000
Term loans, net	1,089,805		1,094,177
Senior unsecured notes, net	1,106,484		1,307,394
Accounts payable and accrued liabilities	22,748		29,253
Lease intangible liabilities, net	0		0
Intercompany	0		0
Total liabilities	2,419,037		3,054,824
Total Sabra Health Care REIT, Inc. stockholders’ equity			1,258,715
Noncontrolling interests			0
Total equity	1,298,119		1,258,715
Total liabilities and equity	3,717,156		4,313,539
Sabra Capital Corporation | Reportable Legal Entities
Assets
Real estate investments, net of accumulated depreciation	0		0
Loans receivable and other investments, net	0		0
Investment in unconsolidated joint venture	0		0
Cash and cash equivalents	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		0
Intercompany	0		0
Total liabilities	0		0
Total Sabra Health Care REIT, Inc. stockholders’ equity			0
Noncontrolling interests			0
Total equity	0		0
Total liabilities and equity	0		0
Combined Guarantor Subsidiaries | Reportable Legal Entities
Assets
Real estate investments, net of accumulated depreciation	1,417,907		1,453,451
Loans receivable and other investments, net	55,935		50,534
Investment in unconsolidated joint venture	0		0
Cash and cash equivalents	2,607		3,508
Restricted cash	1,860		1,820
Lease intangible assets, net	9,029		13,947
Accounts receivable, prepaid expenses and other assets, net	27,396		58,704
Intercompany	0		0
Investment in subsidiaries	33,358		33,083
Total assets	1,548,092		1,615,047
Liabilities
Secured debt, net	0		0
Revolving credit facility	0		0
Term loans, net	93,178		90,753
Senior unsecured notes, net	0		0
Accounts payable and accrued liabilities	2,182		2,570
Lease intangible liabilities, net	0		0
Intercompany	659,890		810,394
Total liabilities	755,250		903,717
Total Sabra Health Care REIT, Inc. stockholders’ equity			711,330
Noncontrolling interests			0
Total equity	792,842		711,330
Total liabilities and equity	1,548,092		1,615,047
Combined Non-Guarantor Subsidiaries | Reportable Legal Entities
Assets
Real estate investments, net of accumulated depreciation	3,926,700		4,399,777
Loans receivable and other investments, net	53,090		63,748
Investment in unconsolidated joint venture	324,324		340,120
Cash and cash equivalents	5,455		5,887
Restricted cash	8,371		7,608
Lease intangible assets, net	95,948		117,150
Accounts receivable, prepaid expenses and other assets, net	100,698		81,603
Intercompany	0		0
Investment in subsidiaries	0		0
Total assets	4,514,586		5,015,893
Liabilities
Secured debt, net	113,644		115,679
Revolving credit facility	0		0
Term loans, net	0		0
Senior unsecured notes, net	0		0
Accounts payable and accrued liabilities	59,443		52,273
Lease intangible liabilities, net	73,074		83,726
Intercompany	3,279,102		3,808,334
Total liabilities	3,525,263		4,060,012
Total Sabra Health Care REIT, Inc. stockholders’ equity			951,548
Noncontrolling interests			4,333
Total equity	989,323		955,881
Total liabilities and equity	$ 4,514,586		$ 5,015,893

SUMMARIZED CONDENSED CONSOLID_4

SUMMARIZED CONDENSED CONSOLIDATING INFORMATION - Condensed Consolidating Statement of Income (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues:
Rental and related revenues	$ 110,104	$ 130,467	$ 339,291	$ 418,951
Interest and other income	3,325	3,932	77,145	12,823
Resident fees and services	36,405	17,403	89,537	52,426
Total revenues	149,834	151,802	505,973	484,200
Expenses:
Depreciation and amortization	43,092	48,468	137,517	143,301
Interest	29,255	37,305	99,181	109,880
General and administrative	8,709	8,173	24,952	25,753
Provision for doubtful accounts, straight-line rental income and loan losses	57	8,910	1,457	9,449
Impairment of real estate	13,966	0	119,102	1,413
Total expenses	124,669	115,467	459,607	326,830
Other (expense) income:
Loss on extinguishment of debt	(644)	0	(10,763)	0
Other income (expense)	215	1,336	385	4,156
Net (loss) gain on sales of real estate	(19)	14	1,216	142,445
Total other income (expense)	(448)	1,350	(9,162)	146,601
Income in subsidiary	0	0	0	0
Income before loss from unconsolidated joint venture and income tax expense	24,717	37,685	37,204	303,971
Loss from unconsolidated joint venture	(605)	(1,725)	(5,635)	(3,626)
Income tax expense	(826)	(732)	(2,292)	(1,847)
Net income	23,286	35,228	29,277	298,498
Net income attributable to noncontrolling interests	(4)	(10)	(22)	(22)
Net income attributable to Sabra Health Care REIT, Inc.	23,282	35,218	29,255	298,476
Preferred stock dividends	0	0	0	(9,768)
Net income attributable to common stockholders	$ 23,282	$ 35,218	$ 29,255	$ 288,708
Net income attributable to common stockholders, per:
Basic common share (in dollars per share)	$ 0.12	$ 0.20	$ 0.16	$ 1.62
Diluted common share (in dollars per share)	$ 0.12	$ 0.20	$ 0.16	$ 1.62
Weighted-average number of common shares outstanding, basic (in shares)	190,650,400	178,317,769	183,578,254	178,309,127
Weighted-average number of common shares outstanding, diluted (in shares)	191,952,389	178,941,213	184,698,411	178,729,853
Triple-Net Portfolio
Expenses:
Operating expenses	$ 5,611	$ 0	$ 17,140	$ 0
Senior Housing - Managed
Expenses:
Operating expenses	23,979	12,611	60,258	37,034
Elimination
Revenues:
Rental and related revenues	(9,445)	(4,303)	(23,191)	(12,856)
Interest and other income	(1,864)	(95)	(3,855)	(303)
Resident fees and services	0	0	0	0
Total revenues	(11,309)	(4,398)	(27,046)	(13,159)
Expenses:
Depreciation and amortization	0	0	0	0
Interest	(1,864)	(95)	(3,855)	(303)
General and administrative	0	0	0	0
Provision for doubtful accounts, straight-line rental income and loan losses	0	0	0	0
Impairment of real estate	0		0	0
Total expenses	(11,309)	(4,398)	(27,046)	(13,159)
Other (expense) income:
Loss on extinguishment of debt	0		0
Other income (expense)	0	0	0	0
Net (loss) gain on sales of real estate	0	0	0	0
Total other income (expense)	0	0	0	0
Income in subsidiary	(91,360)	(118,322)	(212,664)	(745,214)
Income before loss from unconsolidated joint venture and income tax expense	(91,360)	(118,322)	(212,664)	(745,214)
Loss from unconsolidated joint venture	0	0	0	0
Income tax expense	0	0	0	0
Net income	(91,360)	(118,322)	(212,664)	(745,214)
Net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to Sabra Health Care REIT, Inc.				(745,214)
Preferred stock dividends				0
Net income attributable to common stockholders	(91,360)	(118,322)	(212,664)	(745,214)
Elimination | Triple-Net Portfolio
Expenses:
Operating expenses	0		0
Elimination | Senior Housing - Managed
Expenses:
Operating expenses	(9,445)	(4,303)	(23,191)	(12,856)
Parent Company | Reportable Legal Entities
Revenues:
Rental and related revenues	0	0	0	0
Interest and other income	47	33	167	83
Resident fees and services	0	0	0	0
Total revenues	47	33	167	83
Expenses:
Depreciation and amortization	11	221	35	665
Interest	0	0	0	0
General and administrative	8,010	7,084	23,247	21,363
Provision for doubtful accounts, straight-line rental income and loan losses	57	(1,699)	223	793
Impairment of real estate	0		0	0
Total expenses	8,078	5,606	23,505	22,821
Other (expense) income:
Loss on extinguishment of debt	(598)		(598)
Other income (expense)	0	0	0	1,977
Net (loss) gain on sales of real estate	0	0	0	0
Total other income (expense)	(598)	0	(598)	1,977
Income in subsidiary	32,182	41,283	53,810	320,082
Income before loss from unconsolidated joint venture and income tax expense	23,553	35,710	29,874	299,321
Loss from unconsolidated joint venture	0	0	0	0
Income tax expense	(271)	(492)	(619)	(845)
Net income	23,282	35,218	29,255	298,476
Net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to Sabra Health Care REIT, Inc.				298,476
Preferred stock dividends				(9,768)
Net income attributable to common stockholders	23,282	35,218	29,255	288,708
Parent Company | Reportable Legal Entities | Triple-Net Portfolio
Expenses:
Operating expenses	0		0
Parent Company | Reportable Legal Entities | Senior Housing - Managed
Expenses:
Operating expenses	0	0	0	0
Operating Partnership | Reportable Legal Entities
Revenues:
Rental and related revenues	0	0	0	0
Interest and other income	1,863	95	3,855	303
Resident fees and services	0	0	0	0
Total revenues	1,863	95	3,855	303
Expenses:
Depreciation and amortization	0	0	0	0
Interest	27,275	33,892	93,165	99,873
General and administrative	91	24	153	52
Provision for doubtful accounts, straight-line rental income and loan losses	0	0	0	0
Impairment of real estate	0		0	0
Total expenses	27,366	33,916	93,318	99,925
Other (expense) income:
Loss on extinguishment of debt	(2)		(10,121)
Other income (expense)	205	(11)	(403)	222
Net (loss) gain on sales of real estate	0	0	0	0
Total other income (expense)	203	(11)	(10,524)	222
Income in subsidiary	57,482	75,115	153,798	419,483
Income before loss from unconsolidated joint venture and income tax expense	32,182	41,283	53,811	320,083
Loss from unconsolidated joint venture	0	0	0	0
Income tax expense	0	0	(1)	(1)
Net income	32,182	41,283	53,810	320,082
Net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to Sabra Health Care REIT, Inc.				320,082
Preferred stock dividends				0
Net income attributable to common stockholders	32,182	41,283	53,810	320,082
Operating Partnership | Reportable Legal Entities | Triple-Net Portfolio
Expenses:
Operating expenses	0		0
Operating Partnership | Reportable Legal Entities | Senior Housing - Managed
Expenses:
Operating expenses	0	0	0	0
Sabra Capital Corporation | Reportable Legal Entities
Revenues:
Rental and related revenues	0	0	0	0
Interest and other income	0	0	0	0
Resident fees and services	0	0	0	0
Total revenues	0	0	0	0
Expenses:
Depreciation and amortization	0	0	0	0
Interest	0	0	0	0
General and administrative	0	0	0	0
Provision for doubtful accounts, straight-line rental income and loan losses	0	0	0	0
Impairment of real estate	0		0	0
Total expenses	0	0	0	0
Other (expense) income:
Loss on extinguishment of debt	0		0
Other income (expense)	0	0	0	0
Net (loss) gain on sales of real estate	0	0	0	0
Total other income (expense)	0	0	0	0
Income in subsidiary	0	0	0	0
Income before loss from unconsolidated joint venture and income tax expense	0	0	0	0
Loss from unconsolidated joint venture	0	0	0	0
Income tax expense	0	0	0	0
Net income	0	0	0	0
Net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to Sabra Health Care REIT, Inc.				0
Preferred stock dividends				0
Net income attributable to common stockholders	0	0	0	0
Sabra Capital Corporation | Reportable Legal Entities | Triple-Net Portfolio
Expenses:
Operating expenses	0		0
Sabra Capital Corporation | Reportable Legal Entities | Senior Housing - Managed
Expenses:
Operating expenses	0	0	0	0
Combined Guarantor Subsidiaries | Reportable Legal Entities
Revenues:
Rental and related revenues	24,947	35,204	84,344	106,773
Interest and other income	1,355	1,434	70,784	3,847
Resident fees and services	0	0	0	0
Total revenues	26,302	36,638	155,128	110,620
Expenses:
Depreciation and amortization	11,692	12,634	38,934	36,765
Interest	2,665	846	6,234	2,446
General and administrative	274	636	550	1,419
Provision for doubtful accounts, straight-line rental income and loan losses	0	4,315	0	2,359
Impairment of real estate	10,835		10,835	1,413
Total expenses	26,123	18,431	58,380	44,402
Other (expense) income:
Loss on extinguishment of debt	(44)		(44)
Other income (expense)	(167)	(70)	434	308
Net (loss) gain on sales of real estate	0	(1,136)	(179)	40,384
Total other income (expense)	(211)	(1,206)	211	40,692
Income in subsidiary	1,696	1,924	5,056	5,649
Income before loss from unconsolidated joint venture and income tax expense	1,664	18,925	102,015	112,559
Loss from unconsolidated joint venture	0	0	0	0
Income tax expense	(133)	(200)	(780)	(742)
Net income	1,531	18,725	101,235	111,817
Net income attributable to noncontrolling interests	0	0	0	0
Net income attributable to Sabra Health Care REIT, Inc.				111,817
Preferred stock dividends				0
Net income attributable to common stockholders	1,531	18,725	101,235	111,817
Combined Guarantor Subsidiaries | Reportable Legal Entities | Triple-Net Portfolio
Expenses:
Operating expenses	657		1,827
Combined Guarantor Subsidiaries | Reportable Legal Entities | Senior Housing - Managed
Expenses:
Operating expenses	0	0	0	0
Combined Non-Guarantor Subsidiaries | Reportable Legal Entities
Revenues:
Rental and related revenues	94,602	99,566	278,138	325,034
Interest and other income	1,924	2,465	6,194	8,893
Resident fees and services	36,405	17,403	89,537	52,426
Total revenues	132,931	119,434	373,869	386,353
Expenses:
Depreciation and amortization	31,389	35,613	98,548	105,871
Interest	1,179	2,662	3,637	7,864
General and administrative	334	429	1,002	2,919
Provision for doubtful accounts, straight-line rental income and loan losses	0	6,294	1,234	6,297
Impairment of real estate	3,131		108,267	0
Total expenses	74,411	61,912	311,450	172,841
Other (expense) income:
Loss on extinguishment of debt	0		0
Other income (expense)	177	1,417	354	1,649
Net (loss) gain on sales of real estate	(19)	1,150	1,395	102,061
Total other income (expense)	158	2,567	1,749	103,710
Income in subsidiary	0	0	0	0
Income before loss from unconsolidated joint venture and income tax expense	58,678	60,089	64,168	317,222
Loss from unconsolidated joint venture	(605)	(1,725)	(5,635)	(3,626)
Income tax expense	(422)	(40)	(892)	(259)
Net income	57,651	58,324	57,641	313,337
Net income attributable to noncontrolling interests	(4)	(10)	(22)	(22)
Net income attributable to Sabra Health Care REIT, Inc.				313,315
Preferred stock dividends				0
Net income attributable to common stockholders	57,647	58,314	57,619	313,315
Combined Non-Guarantor Subsidiaries | Reportable Legal Entities | Triple-Net Portfolio
Expenses:
Operating expenses	4,954		15,313
Combined Non-Guarantor Subsidiaries | Reportable Legal Entities | Senior Housing - Managed
Expenses:
Operating expenses	$ 33,424	$ 16,914	$ 83,449	$ 49,890

SUMMARIZED CONDENSED CONSOLID_5

SUMMARIZED CONDENSED CONSOLIDATING INFORMATION - Condensed Consolidating Statement of Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Condensed Financial Statements, Captions [Line Items]
Net income	$ 23,286	$ 35,228	$ 29,277	$ 298,498
Unrealized gain (loss), net of tax:
Foreign currency translation gain (loss)	917	(65)	924	(178)
Unrealized (loss) gain on cash flow hedges	(9,376)	2,010	(32,620)	15,246
Total other comprehensive (loss) income	(8,459)	1,945	(31,696)	15,068
Comprehensive income	14,827	37,173	(2,419)	313,566
Comprehensive income attributable to noncontrolling interest	(4)	(10)	(22)	(22)
Comprehensive income attributable to Sabra Health Care REIT, Inc.	14,823	37,163	(2,441)	313,544
Elimination
Condensed Financial Statements, Captions [Line Items]
Net income	(91,360)	(118,322)	(212,664)	(745,214)
Unrealized gain (loss), net of tax:
Foreign currency translation gain (loss)	0	0	0	0
Unrealized (loss) gain on cash flow hedges	0	0	0	0
Total other comprehensive (loss) income	0	0	0	0
Comprehensive income	(91,360)	(118,322)	(212,664)	(745,214)
Comprehensive income attributable to noncontrolling interest	0	0	0	0
Comprehensive income attributable to Sabra Health Care REIT, Inc.	(91,360)	(118,322)	(212,664)	(745,214)
Parent Company | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net income	23,282	35,218	29,255	298,476
Unrealized gain (loss), net of tax:
Foreign currency translation gain (loss)	0	0	0	0
Unrealized (loss) gain on cash flow hedges	0	0	0	0
Total other comprehensive (loss) income	0	0	0	0
Comprehensive income	23,282	35,218	29,255	298,476
Comprehensive income attributable to noncontrolling interest	0	0	0	0
Comprehensive income attributable to Sabra Health Care REIT, Inc.	23,282	35,218	29,255	298,476
Operating Partnership | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net income	32,182	41,283	53,810	320,082
Unrealized gain (loss), net of tax:
Foreign currency translation gain (loss)	1,403	(857)	(298)	1,048
Unrealized (loss) gain on cash flow hedges	(9,375)	2,000	(32,669)	15,238
Total other comprehensive (loss) income	(7,972)	1,143	(32,967)	16,286
Comprehensive income	24,210	42,426	20,843	336,368
Comprehensive income attributable to noncontrolling interest	0	0	0	0
Comprehensive income attributable to Sabra Health Care REIT, Inc.	24,210	42,426	20,843	336,368
Sabra Capital Corporation | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net income	0	0	0	0
Unrealized gain (loss), net of tax:
Foreign currency translation gain (loss)	0	0	0	0
Unrealized (loss) gain on cash flow hedges	0	0	0	0
Total other comprehensive (loss) income	0	0	0	0
Comprehensive income	0	0	0	0
Comprehensive income attributable to noncontrolling interest	0	0	0	0
Comprehensive income attributable to Sabra Health Care REIT, Inc.	0	0	0	0
Combined Guarantor Subsidiaries | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net income	1,531	18,725	101,235	111,817
Unrealized gain (loss), net of tax:
Foreign currency translation gain (loss)	(206)	610	1,101	(926)
Unrealized (loss) gain on cash flow hedges	(1)	10	49	8
Total other comprehensive (loss) income	(207)	620	1,150	(918)
Comprehensive income	1,324	19,345	102,385	110,899
Comprehensive income attributable to noncontrolling interest	0	0	0	0
Comprehensive income attributable to Sabra Health Care REIT, Inc.	1,324	19,345	102,385	110,899
Combined Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net income	57,651	58,324	57,641	313,337
Unrealized gain (loss), net of tax:
Foreign currency translation gain (loss)	(280)	182	121	(300)
Unrealized (loss) gain on cash flow hedges	0	0	0	0
Total other comprehensive (loss) income	(280)	182	121	(300)
Comprehensive income	57,371	58,506	57,762	313,037
Comprehensive income attributable to noncontrolling interest	(4)	(10)	(22)	(22)
Comprehensive income attributable to Sabra Health Care REIT, Inc.	$ 57,367	$ 58,496	$ 57,740	$ 313,015

SUMMARIZED CONDENSED CONSOLID_6

SUMMARIZED CONDENSED CONSOLIDATING INFORMATION - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	$ 276,981	$ 283,024
Cash flows from investing activities:
Acquisition of real estate	(14,977)	(239,001)
Origination and fundings of loans receivable	(9,441)	(41,448)
Origination and fundings of preferred equity investments	0	(5,285)
Additions to real estate	(15,985)	(21,695)
Repayments of loans receivable	13,761	48,282
Repayments of preferred equity investments	3,672	6,491
Investment in unconsolidated joint venture	0	(354,461)
Net proceeds from the sales of real estate	321,715	290,864
Buyout of noncontrolling interests	(200)	0
Distribution from subsidiaries	0	0
Intercompany financing	0	0
Net cash provided by (used in) investing activities	298,545	(316,253)
Cash flows from financing activities:
Net repayments of revolving credit facility	(424,000)	(22,000)
Proceeds from issuance of senior unsecured notes	297,039	0
Principal payments on senior unsecured notes	(500,000)	0
Principal payments on secured debt	(2,566)	(3,202)
Payments of deferred financing costs	(14,001)	(12)
Payments related to extinguishment of debt	(6,897)	0
Distributions to noncontrolling interests	(116)	(107)
Preferred stock redemption	0	(143,750)
Issuance of common stock, net	302,030	(499)
Dividends paid on common and preferred stock	(247,222)	(244,978)
Distribution to parent	0	0
Intercompany financing	0	0
Net cash used in financing activities	(595,733)	(414,548)
Net decrease in cash, cash equivalents and restricted cash	(20,207)	(447,777)
Effect of foreign currency translation on cash, cash equivalents and restricted cash	211	(156)
Cash, cash equivalents and restricted cash, beginning of period	59,658	587,449
Cash, cash equivalents and restricted cash, end of period	39,662	139,516
Elimination
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	0	0
Cash flows from investing activities:
Acquisition of real estate	0	0
Origination and fundings of loans receivable	0	0
Origination and fundings of preferred equity investments		0
Additions to real estate	0	0
Repayments of loans receivable	0	0
Repayments of preferred equity investments	0	0
Investment in unconsolidated joint venture		0
Net proceeds from the sales of real estate	0	0
Buyout of noncontrolling interests	0
Distribution from subsidiaries	(10,278)	(10,842)
Intercompany financing	45,771	717,452
Net cash provided by (used in) investing activities	35,493	706,610
Cash flows from financing activities:
Net repayments of revolving credit facility	0	0
Proceeds from issuance of senior unsecured notes	0
Principal payments on senior unsecured notes	0
Principal payments on secured debt	0	0
Payments of deferred financing costs	0	0
Payments related to extinguishment of debt	0
Distributions to noncontrolling interests	0	0
Preferred stock redemption		0
Issuance of common stock, net	0	0
Dividends paid on common and preferred stock	0	0
Distribution to parent	10,278	10,842
Intercompany financing	(45,771)	(717,452)
Net cash used in financing activities	(35,493)	(706,610)
Net decrease in cash, cash equivalents and restricted cash	0	0
Effect of foreign currency translation on cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash, beginning of period	0	0
Cash, cash equivalents and restricted cash, end of period	0	0
Parent Company | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	267,509	271,511
Cash flows from investing activities:
Acquisition of real estate	0	0
Origination and fundings of loans receivable	0	0
Origination and fundings of preferred equity investments		0
Additions to real estate	(107)	(40)
Repayments of loans receivable	0	0
Repayments of preferred equity investments	0	0
Investment in unconsolidated joint venture		0
Net proceeds from the sales of real estate	0	0
Buyout of noncontrolling interests	0
Distribution from subsidiaries	5,139	5,421
Intercompany financing	(346,815)	(369,732)
Net cash provided by (used in) investing activities	(341,783)	(364,351)
Cash flows from financing activities:
Net repayments of revolving credit facility	0	0
Proceeds from issuance of senior unsecured notes	0
Principal payments on senior unsecured notes	0
Principal payments on secured debt	0	0
Payments of deferred financing costs	0	0
Payments related to extinguishment of debt	0
Distributions to noncontrolling interests	0	0
Preferred stock redemption		(143,750)
Issuance of common stock, net	302,030	(499)
Dividends paid on common and preferred stock	(247,222)	(244,978)
Distribution to parent	0	0
Intercompany financing	0	0
Net cash used in financing activities	54,808	(389,227)
Net decrease in cash, cash equivalents and restricted cash	(19,466)	(482,067)
Effect of foreign currency translation on cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash, beginning of period	40,835	511,670
Cash, cash equivalents and restricted cash, end of period	21,369	29,603
Operating Partnership | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	0	0
Cash flows from investing activities:
Acquisition of real estate	0	0
Origination and fundings of loans receivable	0	0
Origination and fundings of preferred equity investments		0
Additions to real estate	0	0
Repayments of loans receivable	0	0
Repayments of preferred equity investments	0	0
Investment in unconsolidated joint venture		0
Net proceeds from the sales of real estate	0	0
Buyout of noncontrolling interests	0
Distribution from subsidiaries	5,139	5,421
Intercompany financing	301,044	(347,720)
Net cash provided by (used in) investing activities	306,183	(342,299)
Cash flows from financing activities:
Net repayments of revolving credit facility	(424,000)	(22,000)
Proceeds from issuance of senior unsecured notes	297,039
Principal payments on senior unsecured notes	(500,000)
Principal payments on secured debt	0	0
Payments of deferred financing costs	(14,001)	(12)
Payments related to extinguishment of debt	(6,897)
Distributions to noncontrolling interests	0	0
Preferred stock redemption		0
Issuance of common stock, net	0	0
Dividends paid on common and preferred stock	0	0
Distribution to parent	(5,139)	(5,421)
Intercompany financing	346,815	369,732
Net cash used in financing activities	(306,183)	342,299
Net decrease in cash, cash equivalents and restricted cash	0	0
Effect of foreign currency translation on cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash, beginning of period	0	0
Cash, cash equivalents and restricted cash, end of period	0	0
Sabra Capital Corporation | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	0	0
Cash flows from investing activities:
Acquisition of real estate	0	0
Origination and fundings of loans receivable	0	0
Origination and fundings of preferred equity investments		0
Additions to real estate	0	0
Repayments of loans receivable	0	0
Repayments of preferred equity investments	0	0
Investment in unconsolidated joint venture		0
Net proceeds from the sales of real estate	0	0
Buyout of noncontrolling interests	0
Distribution from subsidiaries	0	0
Intercompany financing	0	0
Net cash provided by (used in) investing activities	0	0
Cash flows from financing activities:
Net repayments of revolving credit facility	0	0
Proceeds from issuance of senior unsecured notes	0
Principal payments on senior unsecured notes
Principal payments on secured debt	0	0
Payments of deferred financing costs	0	0
Payments related to extinguishment of debt	0
Distributions to noncontrolling interests	0	0
Preferred stock redemption		0
Issuance of common stock, net	0	0
Dividends paid on common and preferred stock	0	0
Distribution to parent	0	0
Intercompany financing	0	0
Net cash used in financing activities	0	0
Net decrease in cash, cash equivalents and restricted cash	0	0
Effect of foreign currency translation on cash, cash equivalents and restricted cash	0	0
Cash, cash equivalents and restricted cash, beginning of period	0	0
Cash, cash equivalents and restricted cash, end of period	0	0
Combined Guarantor Subsidiaries | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	487	1,038
Cash flows from investing activities:
Acquisition of real estate	(14,977)	(54,715)
Origination and fundings of loans receivable	(6,018)	(2,650)
Origination and fundings of preferred equity investments		(5,285)
Additions to real estate	(8,314)	(5,763)
Repayments of loans receivable	124	6,534
Repayments of preferred equity investments	3,672	6,491
Investment in unconsolidated joint venture		0
Net proceeds from the sales of real estate	21,586	79,738
Buyout of noncontrolling interests	(200)
Distribution from subsidiaries	0	0
Intercompany financing	0	0
Net cash provided by (used in) investing activities	(4,127)	24,350
Cash flows from financing activities:
Net repayments of revolving credit facility	0	0
Proceeds from issuance of senior unsecured notes	0
Principal payments on senior unsecured notes	0
Principal payments on secured debt	0	0
Payments of deferred financing costs	0	0
Payments related to extinguishment of debt	0
Distributions to noncontrolling interests	0	0
Preferred stock redemption		0
Issuance of common stock, net	0	0
Dividends paid on common and preferred stock	0	0
Distribution to parent	0	0
Intercompany financing	2,637	(28,697)
Net cash used in financing activities	2,637	(28,697)
Net decrease in cash, cash equivalents and restricted cash	(1,003)	(3,309)
Effect of foreign currency translation on cash, cash equivalents and restricted cash	142	(82)
Cash, cash equivalents and restricted cash, beginning of period	5,328	6,761
Cash, cash equivalents and restricted cash, end of period	4,467	3,370
Combined Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net cash provided by operating activities	8,985	10,475
Cash flows from investing activities:
Acquisition of real estate	0	(184,286)
Origination and fundings of loans receivable	(3,423)	(38,798)
Origination and fundings of preferred equity investments		0
Additions to real estate	(7,564)	(15,892)
Repayments of loans receivable	13,637	41,748
Repayments of preferred equity investments	0	0
Investment in unconsolidated joint venture		(354,461)
Net proceeds from the sales of real estate	300,129	211,126
Buyout of noncontrolling interests	0
Distribution from subsidiaries	0	0
Intercompany financing	0	0
Net cash provided by (used in) investing activities	302,779	(340,563)
Cash flows from financing activities:
Net repayments of revolving credit facility	0	0
Proceeds from issuance of senior unsecured notes	0
Principal payments on senior unsecured notes	0
Principal payments on secured debt	(2,566)	(3,202)
Payments of deferred financing costs	0	0
Payments related to extinguishment of debt	0
Distributions to noncontrolling interests	(116)	(107)
Preferred stock redemption		0
Issuance of common stock, net	0	0
Dividends paid on common and preferred stock	0	0
Distribution to parent	(5,139)	(5,421)
Intercompany financing	(303,681)	376,417
Net cash used in financing activities	(311,502)	367,687
Net decrease in cash, cash equivalents and restricted cash	262	37,599
Effect of foreign currency translation on cash, cash equivalents and restricted cash	69	(74)
Cash, cash equivalents and restricted cash, beginning of period	13,495	69,018
Cash, cash equivalents and restricted cash, end of period	$ 13,826	$ 106,543

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - $ / shares	Oct. 30, 2019	Aug. 07, 2019	May 08, 2019	Feb. 05, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Subsequent Event [Line Items]
Quarterly cash dividend declared on common stock (in dollars per share)		$ 0.45	$ 0.45	$ 0.45	$ 0.45	$ 0.45	$ 1.35	$ 1.35
Subsequent Event
Subsequent Event [Line Items]
Quarterly cash dividend declared on common stock (in dollars per share)	$ 0.45

Uncategorized Items - sbra10q20

Label	Element	Value
Accounting Standards Update 2017-12 [Member] | AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 795,000
Accounting Standards Update 2017-12 [Member] | Accumulated Distributions in Excess of Net Income [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(795,000)
Accounting Standards Update 2016-02 [Member] | Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(32,502,000)
Accounting Standards Update 2016-02 [Member] | Accumulated Distributions in Excess of Net Income [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (32,502,000)