CNL Healthcare Properties (CHTH) 10-K 10 Mar 23 2022 FY Annual report Financial data

Cover

Cover - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2022	Mar. 08, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
DocumentAnnualReport	true
Document Period End Date	Dec. 31, 2022
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Amendment Flag	false
No Trading Symbol Flag	true
Document Transition Report	false
Entity File Number	000-54685
Entity Registrant Name	CNL Healthcare Properties, Inc.
Entity Central Index Key	0001496454
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	27-2876363
Entity Address, Postal Zip Code	32801
Entity Address, City or Town	Orlando
Entity Address, State or Province	FL
Entity Address, Address Line Two	CNL Center at City Commons
Entity Address, Address Line Two	450 South Orange Avenue
City Area Code	407
Local Phone Number	650-1000
Title of 12(g) Security	Common Stock, $0.01 par value per share
EntityWellKnownSeasonedIssuer	No
EntityVoluntaryFilers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 1.3
Entity Common Stock, Shares Outstanding		173,960,540
Documents Incorporated by Reference	None
Current Fiscal Year End Date	--12-31

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Audit Information [Abstract]
Auditor Firm ID	238
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Tampa, Florida

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
ASSETS
Real estate investment properties, net (including VIEs $30,906 and $42,612, respectively)	$ 1,313,438	$ 1,338,856
Assets held for sale	0	8,373
Cash (including VIEs $646 and $1,597, respectively)	69,504	53,161
Restricted cash (including VIEs $9 and $59, respectively)	4,070	4,520
Other assets (including VIEs $554 and $544, respectively)	36,868	18,700
Deferred rent, lease incentives and intangibles, net	13,423	12,970
Total assets	1,437,303	1,436,580
Liabilities:
Mortgages and other notes payable, net (including VIEs $21,142 and $28,855, respectively)	61,773	89,400
Credit facilities	546,100	499,728
Accounts payable and accrued liabilities (including VIEs $533 and $1,489, respectively)	30,270	29,170
Other liabilities (including VIEs $91 and $299, respectively)	7,469	6,115
Due to related parties	1,397	1,406
Total liabilities	647,009	625,819
Commitments and contingencies (Note 10)
Stockholders' equity:
Preferred stock, $0.01 par value per share, 200,000 shares authorized; none issued or outstanding	0	0
Excess shares, $0.01 par value per share, 300,000 shares authorized; none issued or outstanding	0	0
Common stock, $0.01 par value per share, 1,120,000 shares authorized, 186,626 shares issued and 173,960 shares outstanding	1,740	1,740
Capital in excess of par value	1,516,926	1,516,926
Accumulated income	100,408	101,861
Accumulated distributions	(829,307)	(811,493)
Accumulated other comprehensive income	(16)	10
Total stockholders' equity	789,751	809,044
Noncontrolling interest	543	1,717
Total equity	790,294	810,761
Total liabilities and equity	$ 1,437,303	$ 1,436,580

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Real estate investment properties, net	$ 1,313,438	$ 1,338,856
Cash	69,504	53,161
Restricted cash	4,070	4,520
Other assets	36,868	18,700
Mortgages and other notes payable, net	61,773	89,400
Accounts payable and accrued liabilities	30,270	29,170
Other liabilities	$ 7,469	$ 6,115
Preferred stock, par value ( in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	200,000,000	200,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Excess shares, par value ( in dollars per share)	$ 0.01	$ 0.01
Excess shares, shares authorized( in shares)	300,000,000	300,000,000
Excess shares, shares issued (in shares)	0	0
Excess shares, shares outstanding (in shares)	0	0
Common stock, par value ( in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,120,000,000	1,120,000,000
Common stock, shares issued (in shares)	186,626,000	186,626,000
Common stock, shares outstanding (in shares)	173,960,000	173,960,000
Variable Interest Entity, Primary Beneficiary
Real estate investment properties, net	$ 30,906	$ 42,612
Cash	646	1,597
Restricted cash	9	59
Other assets	554	544
Mortgages and other notes payable, net	21,142	28,855
Accounts payable and accrued liabilities	533	1,489
Other liabilities	$ 91	$ 299

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues:
Rental income and related revenues	$ 26,862,000	$ 30,101,000	$ 26,287,000
Resident fees and services	295,799,000	265,321,000	280,854,000
Total revenues	322,661,000	295,422,000	307,141,000
Operating expenses:
Property operating expenses	226,845,000	197,562,000	193,427,000
General and administrative expenses	10,209,000	9,116,000	9,413,000
Impairment provision	0	9,790,000	0
Depreciation and amortization	54,242,000	50,417,000	51,817,000
Total operating expenses	320,073,000	295,599,000	286,480,000
Gain on sale of real estate	6,282,000	0	1,074,000
Operating (loss) income	8,870,000	(177,000)	21,735,000
Other income (expense):
Interest and other income	4,663,000	720,000	5,655,000
Interest expense and loan cost amortization	(21,781,000)	(19,696,000)	(24,285,000)
Gain on change of control of a joint venture	8,376,000	0	0
Equity in earnings of unconsolidated entity	0	471,000	1,050,000
Total other expense	(8,742,000)	(18,505,000)	(17,580,000)
(Loss) income before income taxes	128,000	(18,682,000)	4,155,000
Income tax expense	(540,000)	(4,174,000)	(1,098,000)
(Loss) income from continuing operations	(412,000)	(22,856,000)	3,057,000
Net (loss) income from discontinued operations	0	(10,000)	954,000
Net (loss) income	(412,000)	(22,866,000)	4,011,000
Less: Amounts attributable to noncontrolling interests
Net income from continuing operations	1,041,000	16,000	99,000
Net (loss) income attributable to common stockholders	$ (1,453,000)	$ (22,882,000)	$ 3,912,000
Net (loss) income per share of common stock (basic and diluted)
Continuing operations, basic ( in dollars per share)	$ (0.01)	$ (0.13)	$ 0.01
Continuing operations, diluted ( in dollars per share)	(0.01)	(0.13)	0.01
Discontinued operations, basic ( in dollars per share)	0	0	0.01
Discontinued operations, diluted ( in dollars per share)	$ 0	$ 0	$ 0.01
Weighted average number of shares outstanding, basic ( in dollars per share)	173,960	173,960	173,960
Weighted average number of shares outstanding, diluted ( in dollars per share)	173,960	173,960	173,960
Asset Management Fees
Operating expenses:
Cost of goods and services sold	$ 14,074,000	$ 15,733,000	$ 18,051,000
Property Management Fees
Operating expenses:
Cost of goods and services sold	$ 14,703,000	$ 12,981,000	$ 13,772,000

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (412)	$ (22,866)	$ 4,011
Other comprehensive (loss) income:
Unrealized (loss) gain on derivative financial instruments, net	(26)	40	11
Reclassification of interest rate caps upon derecognition	0	0	2
Unrealized gain (loss) on derivative financial instruments of equity method investments	0	5	(12)
Total other comprehensive (loss) income	(26)	45	1
Comprehensive (loss) income	(438)	(22,821)	4,012
Less: Comprehensive income attributable to noncontrolling interest	1,041	16	99
Comprehensive (loss) income attributable to common stockholders	$ (1,479)	$ (22,837)	$ 3,913

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND REDEEMABLE NONCONTROLLING INTEREST - USD ($) $ in Thousands	Total	Redeemable Noncontrolling Interest	Common Stock	Capital in Excess of Par Value	Accumulated Income (Loss)	Accumulated Distributions	Accumulated Other Comprehensive (Loss) Income	Total Stockholders' Equity	Non- controlling Interest
Beginning balance at Dec. 31, 2019	$ 901,031		$ 1,740	$ 1,516,926	$ 120,831	$ (740,239)	$ (36)	$ 899,222	$ 1,251
Beginning balance (in shares) at Dec. 31, 2019			173,960,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	4,011				3,912			3,912	55
Other comprehensive income (loss)	1						1	1
Distributions to noncontrolling interests	(122)	$ (30)							(92)
Cash distributions declared	(35,627)					(35,627)		(35,627)
Contributions from noncontrolling interests	75								75
Ending balance at Dec. 31, 2020	869,369		$ 1,740	1,516,926	124,743	(775,866)	(35)	867,508	1,289
Ending balance (in shares) at Dec. 31, 2020			173,960,000
Redeemable noncontrolling interest, beginning balance at Dec. 31, 2019		558
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income		44
Distributions to noncontrolling interest	(122)	(30)							(92)
Redeemable noncontrolling interest, ending balance at Dec. 31, 2020		572
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(22,866)				(22,882)			(22,882)	(6)
Other comprehensive income (loss)	45						45	45
Distributions to noncontrolling interests	(160)	(89)							(71)
Cash distributions declared	(35,627)					(35,627)		(35,627)
Reclassification of redeemable noncontrolling interest	0	(505)							505
Ending balance at Dec. 31, 2021	$ 810,761		$ 1,740	1,516,926	101,861	(811,493)	10	809,044	1,717
Ending balance (in shares) at Dec. 31, 2021	173,960,000		173,960,000
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income		22
Distributions to noncontrolling interest	$ (160)	(89)							(71)
Reclassification of redeemable noncontrolling interest	0	(505)							505
Redeemable noncontrolling interest, ending balance at Dec. 31, 2021		0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(412)				(1,453)			(1,453)	1,041
Other comprehensive income (loss)	(26)						(26)	(26)
Distributions to noncontrolling interests	(2,215)	0							(2,215)
Cash distributions declared	(17,814)					(17,814)		(17,814)
Ending balance at Dec. 31, 2022	$ 790,294		$ 1,740	$ 1,516,926	$ 100,408	$ (829,307)	$ (16)	$ 789,751	543
Ending balance (in shares) at Dec. 31, 2022	173,960,000		173,960,000
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income		0
Distributions to noncontrolling interest	$ (2,215)	0							$ (2,215)
Redeemable noncontrolling interest, ending balance at Dec. 31, 2022		$ 0

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND REDEEMABLE NONCONTROLLING INTEREST(Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Stockholders' Equity [Abstract]
Cash distributions, declared per share	$ 0.10240	$ 0.20480	$ 0.20480

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating activities:
Net (loss) income	$ (412,000)	$ (22,866,000)	$ 4,011,000
Net (loss) income from discontinued operations	0	(10,000)	954,000
Net (loss) income from continuing operations	(412,000)	(22,856,000)	3,057,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	54,242,000	50,417,000	51,817,000
Amortization of loan costs	2,769,000	2,193,000	2,041,000
Amortization of premium for debt investments	(42,000)	(42,000)	(42,000)
Amortization of discounts	(151,000)	0	0
Straight-line rent adjustments	1,209,000	1,231,000	1,697,000
Deferred income tax expense	0	3,632,000	553,000
Loss on extinguishment of debt	28,000	43,000	35,000
Impairment provision	0	9,790,000	0
Write-off of deferred rent and lease related costs	0	0	2,468,000
Gain on sale of real estate	(6,282,000)	0	(1,074,000)
Gain on change of control of a joint venture	(8,376,000)	0	0
Other non-cash operating activities	984,000	1,304,000	1,212,000
Changes in operating assets and liabilities:
Other assets	(640,000)	(1,326,000)	1,299,000
Deferred rent and lease incentives	0	(250,000)	0
Accounts payable and accrued liabilities	76,000	4,718,000	505,000
Other liabilities	450,000	(2,108,000)	(1,003,000)
Due to related parties	(9,000)	(374,000)	(495,000)
Net cash flows provided by operating activities – continuing operations	43,846,000	46,372,000	62,070,000
Net cash flows (used in) provided by operating activities – discontinued operations	0	(10,000)	1,049,000
Net cash flows provided by operating activities	43,846,000	46,362,000	63,119,000
Investing activities:
Acquisition of joint venture interest, net of cash acquired	(1,134,000)	0	0
Net proceeds from sale of real estate	36,655,000	0	53,712,000
Capital expenditures	(17,789,000)	(14,186,000)	(12,231,000)
Purchase of held-to-maturity securities	(24,209,000)	0	0
Other investing activities	291,000	35,000	41,000
Net cash (used in) provided by investing activities – continuing operations	(6,186,000)	(14,151,000)	41,522,000
Net proceeds from sale of real estate	0	7,402,000	28,398,000
Net cash provided by investing activities – discontinued operations	0	7,402,000	28,398,000
Net cash (used in) provided by investing activities	(6,186,000)	(6,749,000)	69,920,000
Financing activities:
Distributions to stockholders	(17,814,000)	(35,627,000)	(35,627,000)
Draws under credit facilities	45,000,000	238,000,000	40,000,000
Payment of loan costs	(328,000)	(2,404,000)	(122,000)
Principal payments on mortgages and other notes payable	(46,294,000)	(247,753,000)	(39,737,000)
Repayments on credit facilities	0	0	(80,000,000)
Distributions to noncontrolling interests	(2,215,000)	(160,000)	(122,000)
Other financing activities	(116,000)	1,000	43,000
Net cash flows used in financing activities	(21,767,000)	(47,943,000)	(115,565,000)
Net increase (decrease) in cash and restricted cash	15,893,000	(8,330,000)	17,474,000
Cash and restricted cash at beginning of period, including assets held for sale	57,681,000	66,011,000	48,537,000
Cash and restricted cash at end of period, including assets held for sale	73,574,000	57,681,000	66,011,000
Supplemental disclosure of cash flow information (continuing operations):
Cash paid for interest, net	17,020,000	17,615,000	23,181,000
Cash paid for taxes, net	$ 801,000	$ 690,000	$ 737,000

Organization

Organization	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization CNL Healthcare Properties, Inc. (the “Company”) is a Maryland corporation that elected to be taxed as a real estate investment trust (“REIT”) for United States (“U.S.”) federal income tax purposes. The Company has been and intends to continue to be organized and operate in a manner that allows it to remain qualified as a REIT for U.S. federal income tax purposes. The Company conducts substantially all of its operations either directly or indirectly through: (1) an operating partnership, CHP Partners, LP (“Operating Partnership”), in which the Company is the sole limited partner and its wholly-owned subsidiary, CHP GP, LLC, is the sole general partner; (2) a wholly-owned taxable REIT subsidiary (“TRS”), CHP TRS Holding, Inc.; (3) property owner and lender subsidiaries, which are single purpose entities; and (4) investments in joint ventures. The Company is externally managed and advised by CNL Healthcare Corp. (“Advisor”), which is an affiliate of CNL Financial Group, LLC (“Sponsor”). The Sponsor is an affiliate of CNL Financial Group, Inc. (“CNL”). The Advisor is responsible for managing the Company’s day-to-day operations, serving as a consultant in connection with policy decisions to be made by the board of directors, and for identifying, recommending and executing on possible strategic alternatives and dispositions on the Company’s behalf pursuant to an advisory agreement among the Company, the Operating Partnership and the Advisor. Substantially all of the Company’s operating, administrative and certain property management services are provided by affiliates of the Advisor. In addition, certain property management services are provided by third-party property managers. In 2017, the Company began evaluating possible strategic alternatives to provide liquidity to the Company’s stockholders. As part of executing under possible strategic alternatives, the Company’s board of directors committed to a plan to sell 70 properties, including properties comprising its MOB/Healthcare portfolio. As of December 31, 2022, the Company had successfully completed the sale of the 70 properties.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation and Consolidation — The accompanying consolidated financial statements include the Company’s accounts, the accounts of wholly owned subsidiaries or subsidiaries for which the Company has a controlling interest, the accounts of two variable interest entities (“VIEs”) in which the Company is the primary beneficiary, and the accounts of other subsidiaries over which the Company has a controlling financial interest. All material intercompany accounts and transactions have been eliminated in consolidation. In accordance with the guidance for the consolidation of a VIE, the Company is required to identify entities for which control is achieved through means other than voting rights and to determine the primary beneficiary of its VIEs. The Company qualitatively assesses whether it is the primary beneficiary of a VIE and considers various factors including, but not limited to, the design of the entity, its organizational structure including decision-making ability and financial agreements, its ability and the rights of others to participate in policy making decisions, as well as its ability to replace the VIE manager and/or liquidate the entity. 2. Summary of Significant Accounting Policies (Continued) Government Grant Income — On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was signed into law which provided, among other things, for the establishment of a Provider Relief Fund under the direction of the Department of Health and Human Services (“HHS”). Provider relief funds received under the CARES Act are deemed governmental grants provided that the recipient attests to and complies with certain terms and conditions. Grant income is recognized upon receipt of provider relief funds and when all the conditions of the grant have been met. During the years ended December 31, 2022, 2021 and 2020, the Company recorded approximately $4.3 million, $0.5 million and $5.3 million respectively, as other income in the accompanying consolidated statements of operations as all conditions of the grant had been met. Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated financial statements, the reported amounts of revenues and expenses during the reporting periods and the disclosure of contingent liabilities. For example, significant assumptions are made in the analysis of real estate impairments, the valuation of contingent assets and liabilities, and the valuation of restricted common stock (“Restricted Stock”) shares issued to the Advisor. Accordingly, actual results could differ from those estimates. Depreciation and Amortization — Real estate costs related to the acquisition and improvement of properties are capitalized. Repair and maintenance costs are charged to expense as incurred and significant replacements and improvements are capitalized. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset. The Company considers the period of future benefit of an asset to determine its appropriate useful life. Real estate assets are stated at cost less accumulated depreciation, which is computed using the straight-line method of accounting over the estimated useful lives of the related assets. Buildings and improvements are depreciated on the straight-line method over their estimated useful lives, which generally are the lesser of 39 and 15 years, respectively. Amortization of intangible assets is computed using the straight-line method of accounting over the shorter of the respective lease term or estimated useful life. If a lease is terminated or modified prior to its scheduled expiration, the Company recognizes a loss on lease termination related to the unamortized lease-related costs not deemed to be recoverable. Impairment of Real Estate Assets — Real estate assets are reviewed on an ongoing basis to determine whether there are any impairment indicators. Management considers potential impairment indicators to primarily include (i) changes in a real estate asset’s operating performance, such as a current period net operating loss combined with a history of net operating losses, or a projection or forecast that demonstrates continuing losses associated with the use of a real estate asset or (ii) a current expectation that, more likely than not, a real estate asset will be sold or otherwise disposed of significantly before the end of its previously estimated holding period. To assess if an asset group is potentially impaired, management compares the estimated current and projected undiscounted cash flows, including estimated net sales proceeds, of the asset group over its remaining useful life to the net carrying value of the asset group. Such cash flow projections consider factors such as expected future operating income, trends and prospects, as well as the effects of demand, competition and other factors. In the event that the carrying value exceeds the undiscounted operating cash flows, the Company would recognize an impairment provision to adjust the carrying value of the asset group to the estimated fair value. When impairment indicators are present for real estate indirectly owned, through an investment in a joint venture or other similar investment structure accounted for under the equity method, the Company compares the estimated fair value of its investment to the carrying value. An impairment charge will be recorded to the extent the fair value of the investment is less than the carrying value and the decline in value is determined to be other than a temporary decline. 2. Summary of Significant Accounting Policies (Continued) Assets Held For Sale, net and Discontinued Operations — The Company determines to classify a property as held for sale once management has the authority to approve and commits to a plan to sell the property, the property is available for immediate sale, there is an active program to locate a buyer, the sale of the property is probable and the transfer of the property is expected to occur within one year. Upon the determination to classify a property as held for sale, the Company ceases recording further depreciation and amortization relating to the associated assets and those assets are measured at the lower of its carrying amount or fair value less disposition costs and are presented separately in the consolidated balance sheets for all periods presented. In addition, the Company classifies assets held for sale as discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on the Company’s operations and financial results. For any disposal(s) qualifying as discontinued operations, the Company allocates interest expense and loan cost amortization that directly relates to either: (1) expense on mortgages and other notes payable collateralized by properties classified as discontinued operations; or (2) expense on the Company’s credit facilities, which is allocated based on the value of the properties that are classified as discontinued operations if these properties are included in the credit facilities’ unencumbered pool of assets and the related indebtedness is required to be repaid upon sale of the properties. Assets Reclassified from Held for Sale to Held and Used — Upon management’s determination to discontinue marketing properties for sale, the properties will no longer meet the held for sale criteria and are required to be reclassified as held and used at the lower of adjusted carrying value (carrying value of the properties prior to being classified as held for sale adjusted for any depreciation and/or amortization expense that would have been recognized had the properties been continuously classified as held and used) or its fair value at the date of the subsequent decision not to sell. If adjusted carrying value is determined to be lower, a catch-up depreciation and/or amortization adjustment will be recorded. The depreciation and/or amortization expenses that would have been recognized had the properties been continuously classified as held and used will be included as a component of depreciation and amortization expense in the accompanying consolidated statements of operations. If fair value is determined to be lower, the Company will record a loss on reclassification which will be included in income or loss from continuing operations in the accompanying consolidated statements of operations. Cash — Cash consists of demand deposits at commercial banks. The Company also invests in cash equivalents consisting of highly liquid investments in money market funds with original maturities of three months or less. As of December 31, 2022, certain of the Company’s cash deposits exceeded federally insured amounts. However, the Company continues to monitor the third-party depository institutions that hold the Company’s cash, primarily with the goal of safeguarding principal. The Company attempts to limit cash investments to financial institutions with high credit standing; therefore, the Company believes it is not exposed to any significant credit risk on cash. Restricted Cash — Certain amounts of cash are escrowed to fund capital expenditures, property taxes and/or insurance as required by loan or lease terms, and certain security deposits represent restricted use funds. Held-to-Maturity Securities — From time to time, the Company may invest in U.S. Treasuries, which it has designated as held-to-maturity (“HTM”) securities, because the Company has both the ability and the intent to hold them until maturity. All assets classified as HTM are included within other assets in the consolidated balance sheets and reported at stated cost plus any premiums or discounts. Premiums or discounts are amortized or accreted as interest and other income in the consolidated statement of operations. The Company evaluates its HTM securities on a quarterly basis to assess whether a decline in the fair value of an HTM security below the Company’s amortized cost basis is an other-than-temporary impairment (“OTTI”). The presence of OTTI is based upon a fair value decline below a security’s amortized cost basis and a corresponding adverse change in expected cash flows due to credit related factors. Impairment is considered other-than-temporary if the Company does not expect to recover the security’s amortized cost basis. Loan Costs — Financing costs paid in connection with obtaining debt are deferred and amortized over the estimated life of the debt using the effective interest method. As of December 31, 2022 and 2021, the accumulated amortization of loan costs was approximately $8.9 million and $9.5 million, respectively. 2. Summary of Significant Accounting Policies (Continued) Deferred Lease-Related Costs — The Company deferred lease-related costs that it incurred to obtain new or extend existing leases. The Company amortizes these costs using the straight-line method of accounting over the shorter of the respective lease term or estimated useful life. If a lease is terminated or modified prior to its scheduled expiration, the Company recognizes a loss on lease termination related to any unamortized deferred lease-related costs not deemed to be recoverable. Revenue Recognition — Rental income and related revenues for operating leases are recognized based on the assessment of collectability of lease payments. When collectability is probable at commencement of the lease, lease income is recognized on an accrual basis and includes rental income that is recorded on the straight-line basis over the term of the lease. Collectability is reassessed during the lease term. When collectability of lease payments is no longer probable, lease income is recorded on a cash basis and limited to the amount of lease payments collected. In addition, lease related costs (the deferred rent from prior GAAP straight-line adjustments, unamortized lease costs and other lease related intangibles) are written-off when the Company determines that these assets are no longer realizable. Rental income and related revenues recorded on an accrual basis include rental income that is recorded on the straight-line basis over the terms of the leases. The straight-line method records the periodic average amount of base rent earned over the term of a lease, taking into account contractual rent increases over the lease term. The Company records the difference between base rent revenues earned and amounts due per the respective lease agreements, as applicable, as an increase or decrease to deferred rent and lease incentives in the accompanying consolidated balance sheets. Rental income and related revenues also include amounts for which tenants are required to reimburse the Company related to expenses incurred on behalf of the tenants, in accordance with the terms of the leases. Tenant reimbursements are recognized in the period in which the related reimbursable expenses are incurred, such as real estate taxes, common area maintenance, and similar items. Some of the Company’s leases require the tenants to pay certain additional contractual amounts that are set aside by the Company for replacements of fixed assets and other improvements to the properties. These amounts are and will remain the property of the Company during and after the term of the lease. The amounts are recorded as capital improvement reserve income at the time such amounts are earned and are included in rental income and related revenues in the accompanying consolidated statements of operations. Additional percentage rent that is due contingent upon tenant performance thresholds, such as gross revenues, is deferred until the underlying performance thresholds have been achieved. Resident fees and services are operating revenues relating to the Company’s managed seniors housing properties, which are operated under RIDEA structures. Resident fees and services directly relate to the provision of monthly goods and services that are generally bundled together under a single resident agreement. The Company accounts for its resident agreements as a single performance obligation given the Company’s overall promise to provide a series of stand-ready goods and services to its residents each month. Resident fees and services are recorded in the period in which the goods are provided and the services are performed and generally consist of (1) monthly rent, which covers occupancy of the residents’ unit as well as basic services, such as utilities, meals and certain housekeeping services, and (2) service level charges, such as assisted living care, memory care and ancillary services. Resident agreements are generally short-term in nature, billed monthly in advance and cancellable by the residents with a 30-day notice. Resident agreements may require the payment of upfront fees prior to moving into the community with any non-refundable portion of such fees being recorded as deferred revenue and amortized over the estimated resident stay. 2. Summary of Significant Accounting Policies (Continued) Derivative Financial Instruments — The Company and an unconsolidated equity method investment held by the Company use or have used derivative financial instruments to partially offset the effect of fluctuating interest rates on the cash flows associated with its variable-rate debt. Upon entry into a derivative, the Company or its unconsolidated equity method investment formally designates and documents the financial instrument as a hedge of a specific underlying exposure, as well as the risk management objectives and strategies for undertaking the hedge transaction. The Company or its unconsolidated equity method investment accounts for derivatives through the use of a fair value concept whereby the derivative positions are stated at fair value in other assets in the accompanying consolidated balance sheets. The fair value of derivatives used to hedge or modify risk fluctuates over time. As such, the fair value amounts should not be viewed in isolation, but rather in relation to the cash flows or fair value of the underlying hedged transaction and to the overall reduction in the exposure relating to adverse fluctuations in interest rates on the Company’s or its unconsolidated equity method investment’s variable-rate debt. Realized and unrealized gain (loss) on derivative financial instruments designated by either the Company or its unconsolidated equity method investment as cash flow hedges are reported as a component of other comprehensive income (loss), a component of stockholders’ equity, in the accompanying consolidated statements of comprehensive income (loss) to the extent they are effective; reclassified into earnings on the same line item associated with the hedged transaction and in the same period the hedged transaction affects earnings. Realized and unrealized gain (loss) on derivative financial instruments designated as cash flow hedges that are entered into by the Company’s equity method investment are reported as a component of the Company’s other comprehensive income (loss) in proportion to the Company’s ownership percentage in the investment, with reclassifications being included in equity in earnings (loss) of unconsolidated entity in the accompanying consolidated statements of operations. Fair Value Measurements — Fair value assumptions are based on the framework established in the fair value accounting guidance under GAAP. The framework specifies a hierarchy of valuation inputs which was established to increase consistency, clarity and comparability in fair value measurements and related disclosures. The guidance describes the following fair value hierarchy based upon three levels of inputs that may be used to measure fair value, two of which are considered observable and one that is considered unobservable: • Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. • Level 2 — Inputs, other than quoted prices included in Level 1, that are observable for the asset or liability either directly or indirectly; such as, quoted prices for similar assets or liabilities or other inputs that can be corroborated by observable market data. • Level 3 — Unobservable inputs for the asset or liability, which are typically based on the Company’s own assumptions, as there is little, if any, related market activity. When market data inputs are unobservable, the Company utilizes inputs that it believes reflects the Company’s best estimate of the assumptions market participants would use in pricing the asset or liability. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement. The estimated fair value of accounts payable and accrued liabilities approximates the carrying value as of December 31, 2022 and 2021 because of the relatively short maturities of the obligations. Mortgages and Other Notes Payable — Mortgages and other notes payable are recorded at the stated principal amount and are generally collateralized by the Company’s properties. Mortgages and other notes payable assumed in connection with an acquisition are recorded at fair market value as of the date of the acquisition. Net Income (Loss) per Share — Net income (loss) per share is calculated based upon the weighted average number of shares of common stock outstanding during the period in which the Company was operational. 2. Summary of Significant Accounting Policies (Continued) Share-Based Payments to Non-Employees — In connection with the expense support agreement described in Note 12. “Related Party Arrangements,” the Company may issue Restricted Stock to the Advisor on an annual basis in exchange for providing expense support in the event that cash distributions declared exceed MFFO as defined by the expense support agreement. The Restricted Stock is forfeited if stockholders do not ultimately receive their original invested capital back with at least a 6% annualized return of investment upon a future liquidity or disposition event of the Company. Upon issuance of Restricted Stock, the Company measures the fair value at its then-current lowest aggregate fair value pursuant to ASC 505-50. On the date in which the Advisor satisfies the vesting criteria, the Company remeasures the fair value of the Restricted Stock pursuant to ASC 505-50 and records expense equal to the difference between the original fair value and that of the remeasurement date. In addition, given that performance is outside the control of the Advisor and involves both market conditions and counterparty performance conditions, the shares are treated as unissued for accounting purposes and the Company only includes the Restricted Stock in the calculation of diluted earnings per share to the extent their effect is dilutive and the vesting conditions have been satisfied as of the reporting date. Pursuant to the expense support agreement, the Advisor shall be the record owner of the Restricted Stock until the shares of common stock are sold or otherwise disposed of, and shall be entitled to all of the rights of a stockholder of the Company including, without limitation, the right to vote such shares (to the extent permitted by the Company’s articles of incorporation) and receive all distributions paid with respect to such shares. All distributions actually paid to the Advisor in connection with the Restricted Stock shall vest immediately and will not be subject to forfeiture. The Company recognizes expense related to the distributions on the Restricted Stock shares as declared. Segment Information — Operating segments are components of an enterprise for which separate financial information is available and is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and assess performance. The Company has determined that it operates in one operating segment, real estate ownership. The Company’s chief operating decision maker evaluates the Company’s operations from a number of different operational perspectives including, but not limited to, a property-by-property basis, by tenant or by operator. The Company derives all significant revenues from a single reportable operating segment of business, healthcare real estate, regardless of the type (seniors housing, medical office, etc.) or ownership structure (leased or managed). Accordingly, the Company does not report segment information; nevertheless, management periodically evaluates whether the Company continues to have one single reportable segment of business. Redeemable Noncontrolling Interest — The Company classified redeemable equity securities in accordance with Accounting Standard Update (“ASU”) No. 2009-04, “Liabilities (Topic 480): Accounting for Redeemable Equity Instruments,” which required that equity securities redeemable at the option of the holder be classified outside of permanent stockholders’ equity. The Company classified redeemable equity securities as redeemable noncontrolling interest within the accompanying consolidated balance sheets and consolidated statements of stockholders’ equity and redeemable noncontrolling interest during the year ended December 31, 2020. The Company evaluated the probability that the equity securities would become redeemable at each reporting period and, if determined probable, the Company measured the redemption value and recorded an adjustment to the carrying value of the equity securities as a component of redeemable noncontrolling interest. During the year ended December 31, 2021, the Company’s redeemable equity securities were reclassified to noncontrolling interests due to the expiration of the redemption option. The Company did not have redeemable equity securities during the year ended December 31, 2022. Promoted Interest — The Company accounts for promoted interests with third-party developers in a manner similar to redeemable noncontrolling interests discussed above. The Company records the initial carrying value of the promoted interest at its issuance date fair value. Subsequently, as the completed developments stabilize and it becomes probable that the promoted interest thresholds will be met, the Company records a liability equal to the estimated redemption value at the end of each reporting period based on the conditions that exist as of the balance sheet date. In connection with the measurement of this liability, the Company records, as a reduction to capital in excess of par value, an amount equal to the difference between the promoted interests’ carrying value and the consideration paid or payable. 2. Summary of Significant Accounting Policies (Continued) Income Taxes — The Company has elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended and related regulations beginning with the year ended December 31, 2012. In order to be taxed as a REIT, the Company is subject to certain organizational and operational requirements, including the requirement to make distributions to its stockholders each year of at least 90% of its annual REIT taxable income (which is computed without regard to the dividends-paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). If the Company qualifies for taxation as a REIT, the Company generally will not be subject to U.S. federal income tax on income that the Company distributes as dividends. If the Company fails to qualify as a REIT in any taxable year, the Company will be subject to U.S. federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost, unless the IRS grants the Company relief under certain statutory provisions. Even if the Company qualifies for taxation as a REIT, it may be subject to certain state and local taxes on its income and property, and U.S. federal income and excise taxes on its undistributed income. The Company has formed subsidiaries which elected to be taxed as a TRS for U.S. federal income tax purposes. Under the provisions of the Internal Revenue Code and applicable state laws, a TRS will be subject to tax on its taxable income from its operations. The Company will account for federal and state income taxes with respect to a TRS using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities, the respective tax bases, operating losses and/or tax-credit carryforwards. A valuation allowance is provided if the Company believes it is more likely than not that all or some portion of the deferred tax asset will not be realized. Any increase or decrease in the valuation allowance that results from a change in circumstances, and that causes the Company to change our judgment about the realizability of the related deferred tax asset, is included in the tax provision when such changes occur. Investment in Unconsolidated Entity — The Company accounted for its investment in an unconsolidated joint venture under the equity method of accounting as the Company exercised significant influence, but did not maintain a controlling financial interest over these entities. The investment was recorded initially at cost and subsequently adjusted for cash contributions, distributions and equity in earnings (loss) of the unconsolidated entity. Based on the joint venture’s structure and any preference the Company received on distributions and liquidation, the Company recorded its equity in earnings (loss) of the unconsolidated entity under the hypothetical liquidation at book value (“HLBV”) method of accounting. Under this method, the Company recognized income or loss in each period as if the net book value of the assets in the venture were hypothetically liquidated at the end of each reporting period pursuant to the provisions of the joint venture agreement. In any given period, the Company could have recorded more or less equity in earnings (loss) than actual cash distributions received or an investment balance that was more or less than what the Company may have received in the event of an actual liquidation. The Company determined whether distributions were classified as returns on investment or returns of investment based on the nature of the distribution. As described in Note 4. “Acquisition,” effective January 1, 2022, the Company acquired the remaining ownership interest in the Windsor Manor Joint Venture and consolidated the Windsor Manor Joint Venture. As of December 31, 2022, the Company did not have an investment in an unconsolidated entity. Reclassifications — Certain amounts in the prior years’ consolidated balance sheet and statements of cash flows have been reclassified to conform to the current year’s presentation. Recently Adopted Accounting Pronouncements —

Revenue

Revenue	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The following table presents disaggregated revenue related to the Company’s resident fees and services during the years ended December 31, 2022, 2021 and 2020: Years Ended December 31, Number of Units (Unaudited) Revenues (in millions) Percentage of Revenues 2022 2021 2020 2022 2021 2020 2022 2021 2020 Resident fees and services: Independent living 2,223 2,243 2,256 $ 74.1 $ 69.6 $ 72.6 25.0 % 26.2 % 25.9 % Assisted living 3,041 2,960 2,947 146.9 128.9 138.1 49.7 48.6 49.2 Memory care 932 904 904 60.6 53.2 57.7 20.5 20.1 20.5 Other revenues — — — 14.2 13.6 12.5 4.8 5.1 4.4 6,196 6,107 6,107 $ 295.8 $ 265.3 $ 280.9 100.0 % 100.0 % 100.0 %

Acquisition

Acquisition	12 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisition	Acquisition As of December 31, 2021, the Company held an interest in five properties through a 75% interest in an unconsolidated joint venture (the “Windsor Manor Joint Venture”), which was accounted for as an equity method investment. Effective January 1, 2022, the Company acquired the remaining 25% interest in the Windsor Manor Joint Venture from its joint venture partner for approximately $3.3 million. As a result, the Company obtained a 100% controlling interest in the Windsor Manor Joint Venture and consolidated the Windsor Manor Joint Venture. The acquisition was accounted for as an asset acquisition. As such, no goodwill was recognized in the acquisition. As the Company previously held an equity method investment in the Windsor Manor Joint Venture, the acquisition resulted in a gain on change of control of a joint venture of approximately $8.4 million, representing the difference between the fair market value and the carrying value of the equity method investment on the acquisition date. The following table summarizes the fair market value of the assets and liabilities recorded as part of the acquisition, adjusted on a relative fair value basis for the difference between the consideration transferred and the fair market value of the net assets acquired, of the Windsor Manor Joint Venture as of the acquisition date (in thousands): Equity method investment in unconsolidated joint venture $ 4,737 Consideration paid for additional 25% interest in joint venture 3,310 Total equity method investment and consideration paid $ 8,047 Cash $ 2,097 Restricted cash 79 Prepaid and other assets 64 Real estate assets 29,384 Intangibles 4,281 Total assets acquired 35,905 Accounts payable and accrued expenses (953) Other liabilities (61) Mortgages and notes payable (18,468) Total liabilities assumed (19,482) Net assets acquired $ 16,423

Real Estate Assets, net

Real Estate Assets, net	12 Months Ended
	Dec. 31, 2022
Real Estate [Abstract]
Real Estate Assets, net	. Real Estate Assets, net The gross carrying amount and accumulated depreciation of the Company’s real estate assets as of December 31, 2022 and 2021 are as follows, excluding one asset held for sale (in thousands): December 31, 2022 2021 Land and land improvements $ 136,416 $ 131,312 Building and building improvements 1,495,552 1,486,630 Furniture, fixtures and equipment 105,784 101,063 Less: accumulated depreciation (424,314) (380,149) Real estate investment properties, net $ 1,313,438 $ 1,338,856 In July 2022, the Company entered into a purchase and sale agreement (the “Fieldstone Sale Agreement”) for the sale of its Fieldstone Memory Care and Fieldstone at Pear Orchard properties (the “Fieldstone Properties”) with an unrelated third party buyer. The Fieldstone at Pear Orchard property was indirectly owned through a consolidated joint venture. The Company completed the sale of the Fieldstone Properties in August 2022 and recorded a gain of approximately $6.3 million, of which approximately $5.4 million was attributable to common stockholders. Additionally, the Company paid a disposition fee of approximately $0.1 million to the Advisor for the sale of these properties. The sale of the Fieldstone Properties did not cause a strategic shift in the Company’s operations, and was not considered significant; therefore, these properties did not qualify as discontinued operations.

Intangibles, net

Intangibles, net	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangibles, net	. Intangibles, net Effective January 1, 2022, as described in Note 4. “Acquisition,” the Company acquired the remaining 25% interest in the Windsor Manor Joint Venture from its joint venture partner. In-place lease intangibles of approximately $4.3 million were included in the net assets acquired. The weighted-average amortization period on the in-place lease intangibles was approximately 1.3 years. The gross carrying amount and accumulated amortization of the Company’s intangible assets as of December 31, 2022 and 2021 are as follows (in thousands): As of December 31, 2022 (1) 2021 In-place lease intangibles $ 5,017 $ 3,944 Less: accumulated amortization (3,769) (3,512) Intangible assets, net $ 1,248 $ 432 _______________ FOOTNOTE: (1) Excludes approximately $3.2 million of gross in-place lease intangibles and accumulated amortization related to fully amortized intangibles as of December 31, 2022. For the years ended December 31, 2022, 2021 and 2020, amortization on the Company’s intangible assets was approximately $3.5 million, $0.4 million and $0.4 million, respectively, all of which was included in depreciation and amortization in the Company's consolidated statements of operations. 6. Intangibles, net (Continued) The estimated future amortization on the Company’s intangibles for each of the next five years and thereafter, in the aggregate, as of December 31, 2022 is as follows (in thousands): 2023 $ 1,144 2024 73 2025 31 2026 — 2027 — Thereafter — $ 1,248

Assets Held For Sale and Discon

Assets Held For Sale and Discontinued Operations	12 Months Ended
	Dec. 31, 2022
Real Estate Liabilities Associated with Assets Held for Development and Sale [Abstract]
Assets Held For Sale and Discontinued Operations	. Assets Held For Sale and Discontinued Operations Assets Held for Sale The Company received an unsolicited offer and entered into a purchase and sale agreement for the Hurst Specialty Hospital with an unrelated third party in March 2022 and classified this property as held for sale as of December 31, 2021 in the accompanying consolidated balance sheet. In conjunction therewith, the Company determined that the carrying value of this property was not recoverable and during the year ended December 31, 2021, recorded an impairment provision of approximately $9.8 million to write-down the carrying value of its Hurst Specialty Hospital to its estimated sales proceeds expected from the sale of the Hurst Specialty Hospital. As a result, the Hurst Specialty Hospital was carried at fair value as of December 31, 2021. The Level 3 unobservable inputs used in determining the fair value were based on estimated sales proceeds. The Company sold the Hurst Specialty Hospital in April 2022, received net sales proceeds of $8.3 million and did not record a gain or loss on sale for financial reporting purposes. The sale of the Hurst Specialty Hospital did not cause a strategic shift in the Company's operations, and was not considered significant; therefore, this property did not qualify as discontinued operations and the Company recorded all operating results from the Hurst Specialty Hospital as income or loss from continuing operations for all periods presented. Assets held for sale consisted of real estate held for sale, net as of December 31, 2021. The Company did not have any properties classified as held for sale as of December 31, 2022. Discontinued Operations During the years ended December 31, 2021 and 2020, the Company recorded (loss) income from discontinued operations of approximately $(0.01) million and $1.0 million, respectively, because it classified the revenues and expenses related to two properties as discontinued operations in the accompanying consolidated statements of operations. One of these properties was sold in January 2021 and the other was sold in February 2020. These two properties were identified for sale as part of the plan to sell the MOB/Healthcare portfolio described in Note 1. “Organization,” and the Company determined that the sale of these properties represented a strategic shift in the Company’s operations. The Company did not have any properties for which it had classified the revenues and expenses as discontinued operations during the year ended December 31, 2022.

Held-to-Maturity Securities

Held-to-Maturity Securities	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Held-to-Maturity Securities	Held-to-Maturity Securities The following presents the face value and carrying value of investments in short term securities by collateral type as of December 31, 2022 (in thousands): U.S. Treasuries Amortized cost basis $ 24,360 Gross unrealized losses (27) Fair value $ 24,333 In determining the fair value of the Company’s investments in short term securities, management judgment may be used to arrive at fair value that considers prices obtained from third-party pricing providers or broker quotes received using the bid price, which are both deemed indicative of market activity, and other applicable market data. The third-party pricing providers and brokers use pricing models that generally incorporate such factors as coupons, rate reset period, issuer, prepayment speeds, credit enhancements and expected life of the security. The Company categorizes the fair value measurement of these assets as Level 2. As of December 31, 2022, the Company’s investments in short term securities had an estimated weighted average life remaining of approximately eight months. In evaluating investments in short term securities for other-than-temporary impairment, the Company determines whether there has been a significant adverse quarterly change in the cash flow expectations for a security. The Company compares the amortized cost of each security against the present value of expected future cash flows of the security. The Company also considers whether there has been a significant adverse change in the regulatory and/or economic environment as part of this analysis. If the amortized cost of the security is greater than the present value of expected future cash flows using the original yield as the discount rate, an other-than-temporary credit impairment has occurred and the credit loss is recognized in earnings. The Company did not record any other-than-temporary credit impairments during the year ended December 31, 2022, as expected cash flows were greater than amortized cost for all short term securities held. The Company did not have HTM securities during the year ended or as of December 31, 2021.

Operating Leases

Operating Leases	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Operating Leases	Operating Leases As of December 31, 2022, the Company owned 15 seniors housing properties that have been leased to two tenants under triple-net operating leases. Under the terms of the Company’s triple-net lease agreements, each tenant is responsible for the payment of property taxes, general liability insurance, utilities, repairs and maintenance, including structural and roof maintenance expenses. Each tenant is expected to pay real estate taxes directly to the taxing authorities and, therefore, such amounts are not included in the Company’s consolidated financial statements. However, if the tenant does not pay the real estate taxes, the Company will be liable for such amounts. As of December 31, 2022, the total annualized property tax assessed on these properties was approximately $3.2 million. As of December 31, 2022, the Company’s triple-net operating leases had a weighted average remaining lease term of 4.7 years based on annualized base rents expiring between 2025 and 2032. Our tenants hold options to extend the lease terms at certain properties for five-year periods, which are generally subject to similar terms and conditions provided under the initial lease term, including rent increases. The Company’s lease term is determined based on the non-cancellable lease term unless economic incentives make it reasonably certain that an extension option will be exercised, in which case the Company includes the extended lease term. 9. Operating Leases (Continued) The following are future minimum lease payments for the Company’s 15 senior housing properties to be received under non-cancellable operating leases for the next five years and thereafter, in the aggregate, as of December 31, 2022 (in thousands): 2023 $ 26,888 2024 27,337 2025 20,708 2026 9,287 2027 9,556 Thereafter 43,259 $ 137,035 The above future minimum lease payments to be received exclude straight-line rent adjustments and base rent attributable to any renewal options exercised by the tenants in the future. Several of our operating leases include options to extend the lease term. For purposes of determining the lease term, we exclude these extension periods unless it is reasonably certain at lease commencement that the extension options will be exercised.

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities As of December 31, 2022 and 2021, the Company had two subsidiaries classified as VIEs. These subsidiaries are joint ventures in which the equity interest consists of non-substantive protective voting rights. The Company determined it is the primary beneficiary and holds a controlling financial interest in each of these subsidiaries due to its power to direct the activities that most significantly impact the economic performance of the entities, as well as its obligation to absorb the losses and its right to receive benefits from these entities that could potentially be significant to these entities. As such, the transactions and accounts of these VIEs are included in the accompanying consolidated financial statements. As described above in Note 5. “Real Estate Assets, net,” in August 2022, the Company sold the property owned by one of these subsidiaries, received net sales proceeds of $16.0 million and distributed approximately $2.0 million to the noncontrolling interest owner representing their pro rata share of the net sales proceeds in accordance with the terms of the joint venture agreement. The aggregate carrying amount and major classifications of the consolidated assets that can be used to settle obligations of the VIEs and liabilities of the consolidated VIEs that are non-recourse to the Company as of December 31, 2022 and 2021 are as follows (in thousands): As of December 31, 2022 2021 Assets: Real estate investment properties, net $ 30,906 $ 42,612 Cash $ 646 $ 1,597 Restricted cash $ 9 $ 59 Other assets $ 554 $ 544 Liabilities: Mortgages and other notes payable, net $ 21,142 $ 28,855 Accounts payable and accrued liabilities $ 533 $ 1,489 Other liabilities $ 91 $ 299

Indebtedness

Indebtedness	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Indebtedness	Indebtedness The following table provides details of the Company’s indebtedness as of December 31, 2022 and 2021 (in thousands): As of December 31, 2022 2021 Mortgages payable and other notes payable: Fixed rate debt (1) $ 44,082 $ 89,766 Variable rate debt (1)(2)(3) 17,859 — Premium (4) 17 59 Loan costs, net (185) (425) Total mortgages and other notes payable, net 61,773 89,400 Credit facilities: Revolving Credit Facility (6)(7) 133,000 88,000 Term Loan Facility (5)(6)(7) 265,000 265,000 2021 Term Loan Facility (5)(6)(7) 150,000 150,000 Loan costs, net related to Term Loan Facilities (1,900) (3,272) Total credit facilities, net 546,100 499,728 Total indebtedness, net $ 607,873 $ 589,128 _______________ FOOTNOTES: (1) As of December 31, 2022 and 2021, the Company’s mortgages and other notes payable are collateralized by seven properties with total carrying value of approximately $92.7 million and $135.4 million, respectively. (2) In connection with the acquisition of the 25% interest in the Windsor Manor Joint Venture, the Company consolidated the net assets of the joint venture effective January 1, 2022, including the debt associated with the properties, at fair value. The debt collateralized by the five Windsor Manor properties pay interest at a rate of 2.50% plus 30-day LIBOR and matures in February 2024. The 30-day LIBOR was approximately 4.39% as of December 31, 2022. (3) As of December 31, 2022, the Company had interest rate protection through an interest rate cap with a notional amount of $15.0 million. Refer to Note 13. “Derivative Financial Instruments” for additional information. (4) Premium is reflective of the Company recording mortgage note payables assumed at fair value on the respective acquisition dates. (5) As of December 31, 2021 and during the year ended December 31, 2022, the Company had interest rate protection through interest rate caps with notional amounts of $355.0 million. The interest rate caps expired on December 31, 2022. Refer to Note 13. “Derivative Financial Instruments” for additional information. (6) As of December 31, 2022 and 2021, the Company had undrawn availability under the applicable revolving credit facility of approximately $117.0 million and $14.1 million, respectively, based on the value of the properties in the unencumbered pool of assets supporting the loan. (7) Term SOFR (as defined by the agreements governing the Credit Facilities) was approximately 4.46% as of December 31, 2022. The 30-day LIBOR was approximately 0.10% as of December 31, 2021. 11. Indebtedness (Continued) In September 2021, the Company entered into a new term loan agreement (the “Term Loan Agreement”), which provided for an additional $150 million senior unsecured term loan facility (the “2021 Term Loan Facility”) to complement and become part of the Company's existing credit facilities (collectively with the Revolving Credit Facility, the “Credit Facilities”). The 2021 Term Loan Facility has an initial term that is co-terminus with the Credit Facilities, maturing May 15, 2024, subject to one 12-month extension, and through September 2022, bore interest based on 30-day LIBOR plus a spread that varies with the Company's leverage ratio. The 2021 Term Loan Facility is pre-payable at any time in whole or part without fees or penalties, has a borrowing availability calculation that is subject to a similar borrowing base calculation as the Credit Facilities and contains similar affirmative, negative and financial covenants as the covenants in the Credit Facilities. Upon the execution of the Term Loan Agreement, the Company paid fees totaling approximately $0.9 million to unrelated third parties and a refinancing coordination fee to the Advisor of approximately $1.5 million. See Note 12. “Related Party Arrangements” for additional information regarding the financing coordination fee. In October 2021, the Company refinanced secured indebtedness of approximately $238.0 million, consisting of debt collateralized by 22 properties, in advance of its scheduled maturity of January 2022 using proceeds from the unsecured 2021 Term Loan Facility and available borrowings under its Revolving Credit Facility. In June 2022, the Company refinanced secured indebtedness of approximately $44.5 million, consisting of debt collateralized by five properties, in advance of its scheduled maturity of September 2022 using available borrowings under its Revolving Credit Facility. In September 2022, the Company amended the agreements under its Credit Facilities to transition its benchmark rate from LIBOR to SOFR effective September 2022. The following is a schedule of future principal payments for the Company’s total indebtedness for the next five years and thereafter, in the aggregate, as of December 31, 2022 (in thousands): 2023 (1) $ 157,054 2024 452,887 2025 — 2026 — 2027 — Thereafter — $ 609,941 _______________ FOOTNOTE: (1) Amounts include $133 million outstanding under the Company’s Revolving Credit Facility and a mortgage loan maturing in June 2023 of approximately $23 million. Refer to Note 18. “Subsequent Events” for information on the extension of the maturity date of the Revolving Credit Facility and the repayment of the $23 million mortgage loan in advance of its scheduled maturity. 11. Indebtedness (Continued) The following table details the Company’s mortgages and other notes payable as of December 31, 2022 and 2021 (in thousands): Property and Loan Interest Rate at December 31, 2022 Payment Terms Maturity Date (1) December 31, 2022 2021 Primrose I Communities; Mortgage Loan 4.11% per annum Monthly principal and interest payments based on a 30-year amortization schedule 9/1/2022 $ — $ 45,019 Watercrest at Mansfield; Mortgage Loan (2) 4.68% per annum Monthly principal and interest payments based on a total payment of $143,330 6/1/2023 22,854 23,473 Watercrest at Katy; 3.25% per annum Monthly principal and interest payments based on a 25-year amortization schedule 11/15/2024 21,228 21,274 Total fixed rate debt 44,082 89,766 Windsor Manor Communities; Mortgage Loan (3) 30-Day LIBOR plus 2.50% per annum Monthly principal and interest payments based on a 25-year amortization schedule 2/28/2024 17,859 — Total variable rate debt 17,859 — Total mortgages and other notes payable $ 61,941 $ 89,766 _______________ FOOTNOTES: (1) Represents the initial maturity date (or, as applicable, the maturity date as extended). (2) The balance for this loan excludes a remaining premium of $0.02 million related to the mortgage note payable assumed being recorded at fair value on the acquisition date. The Company repaid this loan on March 1, 2023. Refer to Note 18. “Subsequent Events” for additional information. (3) In connection with the acquisition of the 25% interest in the Windsor Manor Joint Venture, the Company consolidated the net assets of the joint venture effective January 1, 2022, including the debt associated with the properties, at fair value. The following table provides the details of the fair market value and carrying value of the Company’s indebtedness as of December 31, 2022 and 2021 (in millions): December 31, 2022 December 31, 2021 Fair Carrying Fair Carrying Mortgages and other notes payable, net $ 60.8 $ 61.8 $ 90.4 $ 89.4 Credit facilities, net $ 548.0 $ 546.1 $ 503.0 $ 499.7 11. Indebtedness (Continued) These fair market values are based on current rates and spreads the Company would expect to obtain for similar borrowings. Since this methodology includes inputs that are less observable by the public and are not necessarily reflected in active markets, the measurement of the estimated fair values related to the Company’s mortgage notes payable is categorized as Level 3 on the three-level valuation hierarchy. Generally, the loan agreements for the Company’s mortgage loans contain customary financial covenants and ratios; including (but not limited to) the following: debt service coverage ratio, minimum occupancy levels, limitations on incurrence of additional indebtedness, etc. The loan agreements also contain customary events of default and remedies for the lenders. As of December 31, 2022, the Company was in compliance with all financial covenants related to its mortgage loans. The Credit Facilities contain affirmative, negative, and financial covenants which are customary for loans of this type, including (but not limited to): (i) maximum leverage, (ii) minimum fixed charge coverage ratio, (iii) minimum consolidated net worth, (iv) restrictions on payments of cash distributions except if required by REIT requirements, (v) maximum secured indebtedness, (vi) maximum secured recourse debt, (vii) minimum unsecured interest coverage, (viii) maximum unsecured indebtedness ratio, and (ix) limitations on certain types of investments and with respect to the pool of properties supporting borrowings under the Credit Facilities, minimum weighted average occupancy, and remaining lease terms, as well as property type, MSA, operator, and asset value concentration limits. The limitations on distributions generally include a limitation on the extent of allowable distributions, which are not to exceed the greater of 95% of adjusted FFO (as defined per the Credit Facilities) and the minimum amount of distributions required to maintain the Company’s REIT status. As of December 31, 2022, the Company was in compliance with all financial covenants related to its Credit Facilities.

Related Party Arrangements

Related Party Arrangements	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Related Party Arrangements	Related Party Arrangements The Company is externally advised and has no direct employees. Certain of the Company’s executive officers are executive officers of or are on the board of managers of the Advisor. In connection with services provided to the Company, affiliates are entitled to the following fees: Advisor — The Advisor and certain affiliates are entitled to receive fees and compensation in connection with the acquisition, management and sale of the Company’s assets, as well as the refinancing of debt obligations of the Company or its subsidiaries. In addition, the Advisor and its affiliates are entitled to reimbursement of actual costs incurred on behalf of the Company in connection with the Company’s organizational, offering, acquisition and operating activities. Pursuant to the advisory agreement, as amended, the Advisor receives investment services fees equal to 1.85% of the purchase price of properties (including its proportionate share of properties acquired through joint ventures) for services rendered in connection with the selection, evaluation, structure and purchase of assets. In addition, the Advisor is entitled to receive a monthly asset management fee based on the average real estate asset value (as defined in the advisory agreement) of the Company’s properties, including its proportionate share of properties owned through joint ventures. In May 2022, the Company extended its advisory agreement with the Advisor through June 2023. The Advisor earns an asset management fee equal to 0.8% per annum of average invested assets, which was reduced in May 2021 from 1.0% per annum. The Advisor will also receive a financing coordination fee for services rendered with respect to refinancing of any debt obligations of the Company or its subsidiaries equal to 1.0% of the gross amount of the refinancing. 12. Related Party Arrangements (Continued) The Company will pay the Advisor, if a substantial amount of services are provided as determined by the Company’s independent directors, a disposition fee in an amount equal to 0.8% of (a) the gross market capitalization of the Company upon the occurrence of a listing on a national securities exchange, (b) the gross consideration paid to the Company or its stockholders upon the occurrence of any other liquidity event of the Company (including the sale of the Company or a portion thereof), or (c) the gross sales price upon the sale or transfer of one or more of its properties. The disposition fee was decreased from 1.0% to 0.8% effective May 2021. The Company will not pay its Advisor a disposition fee in connection with the sale of investments that are securities. A disposition fee in the form of a usual and customary brokerage fee may be paid to an affiliate or related party of the Advisor, provided that when added to the sum of all brokerage and real estate fees and commissions paid to unaffiliated parties, the disposition fee to the Advisor may not exceed the lesser of (i) a competitive real estate or brokerage commission or (ii) an amount equal to 6% of the gross sales price. Under the advisory agreement and the Company’s articles of incorporation, the Advisor will be entitled to receive certain subordinated incentive fees upon (a) sales of assets and/or (b) a listing (which would also include the receipt by the Company’s stockholders of securities that are approved for trading on a national securities exchange in exchange for shares of the Company’s common stock as a result of a merger, share acquisition or similar transaction). However, once a listing occurs, the Advisor will not be entitled to receive an incentive fee on subsequent sales of assets. The incentive fees are calculated pursuant to formulas set forth in the expense support agreement, the advisory agreement and the Company’s articles of incorporation. All incentive fees payable to the Advisor are subordinated to the return to investors of their invested capital plus a 6% cumulative, non-compounded annual return on their invested capital. Upon termination or non-renewal of the advisory agreement by the Advisor for good reason (as defined in the advisory agreement) or by the Company other than for cause (as defined in the advisory agreement), a listing or sale of assets after such termination or non-renewal will entitle the Advisor to receive a pro-rated portion of the applicable subordinated incentive fee. In addition, the Advisor or its affiliates may be entitled to receive fees that are usual and customary for comparable services in connection with the financing, development, construction or renovation of a property, subject to approval of the Company’s board of directors, including a majority of its independent directors. Pursuant to the advisory agreement, the Advisor shall reimburse the Company the amount by which the total operating expenses paid or incurred by the Company exceed, in any four consecutive fiscal quarters commencing with the Expense Year ending June 30, 2013, the greater of 2% of average invested assets or 25% of net income (as defined in the advisory agreement) (“Limitation”), unless a majority of the Company’s independent directors determines that such excess expenses are justified based on unusual and non-recurring factors (“Expense Cap Test”). In performing the Expense Cap Test, the Company uses operating expenses on a GAAP basis after making adjustments for the benefit of expense support under the Expense Support Agreement. The Company did not incur operating expenses in excess of the Limitation during the Expense Years ended December 31, 2022, 2021 and 2020. Amended and Restated Expense Support Agreement — Pursuant to the Amended and Restated Expense Support Agreement, the Company’s Advisor agreed to forgo the payment of fees in cash and accept Restricted Stock for services in an amount equal to the positive excess, if any, of (a) Aggregate Stockholder Cash Distributions declared for the applicable year, over (b) aggregate MFFO, each as defined in the Amended and Restated Expense Support Agreement. The Restricted Stock is subordinated and forfeited to the extent that stockholders do not receive their invested capital plus a 6% cumulative non-compounded annual return upon ultimate liquidity of the Company. Any amounts settled, and for which restricted stock shares were issued pursuant to the Amended and Restated Expense Support Agreement, have been permanently settled and the Company has no further obligation to pay such amounts. 12. Related Party Arrangements (Continued) Under the terms of the Amended and Restated Expense Support Agreement, for each quarter within a calendar expense support year, the Company will record a proportional estimate of the cumulative year-to-date period based on an estimate of expense support amounts for the calendar expense support year. Moreover, in exchange for services rendered and in consideration of the expense support provided under the expense support agreement, the Company will issue, within 90 days following the determination date, a number of shares of Restricted Stock equal to the quotient of the expense support amounts provided by the Advisor for the preceding calendar year divided by the Company’s then-current estimated NAV per share of common stock. The terms of the Amended and Restated Expense Support Agreement automatically renew for consecutive one-year periods, subject to the right of the Advisor to terminate their respective agreements upon 30 days’ written notice to the Company. No expense support was received for the years ended December 31, 2022, 2021 and 2020. CNL Capital Markets LLC — CNL Capital Markets LLC, an affiliate of CNL, receives a sliding flat annual rate (payable monthly) based on the average number of investor accounts that will be open over the term of the agreement. For each of the years ended December 31, 2022, 2021 and 2020, the Company incurred approximately $0.9 million in such fees. These amounts are included in general and administrative expenses in the accompanying consolidated statements of operations. Co-Venture Partners —The Company incurs operating expenses which, in general, relate to administration of the Company and its subsidiaries on an ongoing basis. The expenses and fees incurred by and reimbursable to the Company’s related parties, including amounts included in income from discontinued operations, for the years ended December 31, 2022, 2021 and 2020, and related amounts unpaid as of December 31, 2022 and 2021 are as follows (in thousands): Years Ended December 31, Unpaid amounts as of (1) 2022 2021 2020 December 31, December 31, Reimbursable expenses: Operating expenses (2) $ 3,056 $ 2,972 $ 3,517 $ 238 $ 214 3,056 2,972 3,517 238 214 Investment services fee (3) 60 — — — — Disposition fee (4) 195 — 143 — — Financing coordination fees (5) — 1,500 61 — — Asset management fees 14,074 15,740 18,190 1,159 1,192 $ 17,385 $ 20,212 $ 21,911 $ 1,397 $ 1,406 _______________ FOOTNOTES: (1) Amounts are recorded as due to related parties in the accompanying consolidated balance sheets. (2) Amounts are recorded as general and administrative expenses in the accompanying consolidated statements of operations unless such amounts represent prepaid expenses, which are capitalized in the accompanying consolidated balance sheets. (3) For the year ended December 31, 2022, the Company incurred approximately $0.1 million in investment services fees, all of which was capitalized and included in real estate assets, net in the accompanying consolidated balance sheets. For the years ended December 31, 2021 and 2020, the Company did not incur any investment services fees. (4) Amounts are recorded as a reduction to gain on sale of real estate in the accompanying consolidated statements of operations. (5) For the years ended December 31, 2021 and 2020, the Company incurred financing coordination fees of approximately $1.5 million and $0.1 million, respectively, all of which were capitalized as loan costs and reflected in mortgages and other notes payable, net in the accompanying consolidated balance sheets. The Company did not incur any financing coordination fees for the year ended December 31, 2022. 12. Related Party Arrangements (Continued) No amounts were settled or paid in the form of Restricted Stock in accordance with the expense support agreements for the years ended December 31, 2022, 2021 and 2020. As of December 31, 2022, approximately $13.6 million of asset management fees had been settled in exchange for approximately 1.3 million shares of Restricted Stock. The number of Restricted Stock shares granted to the Advisor in lieu of payment in cash was determined by dividing the expense support amount for the respective determination date by the then-current NAV per share. At grant date, no fair value was assigned to the Restricted Stock shares as the shares were valued at zero, which represented the lowest possible value estimated at vesting. In addition, the Restricted Stock shares were treated as unissued for financial reporting purposes because the vesting criteria had not been met as of December 31, 2022. Cash distributions paid on Restricted Stock shares for the years ended December 31, 2022, 2021 and 2020 were $0.136 million, $0.273 million and $0.273 million, respectively. The cash distributions on Restricted Stock shares were recognized as compensation expense as declared and included in general and administrative expense in the accompanying consolidated statements of operations.

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments The following summarizes the terms of the Company's, or its equity method investment's, interest rate caps and the corresponding asset as of December 31, 2022 and 2021 (in thousands): Notional Amount (1) Strike Trade Forward Maturity Fair Value Asset as of December 31, 2022 2021 $ 130,000 1.0 % 10/7/2021 10/7/2021 12/31/2022 $ — $ 63 $ 225,000 2.0 % 12/22/2021 12/31/2021 12/31/2022 $ — $ 28 $ 15,000 3.5 % 12/28/2022 12/28/2022 7/1/2023 $ 99 $ — _______________ FOOTNOTE: (1) Amounts related to the interest rate caps held by the Company are recorded at fair value and included in other assets in the accompanying consolidated balance sheets. Although the Company has determined that the majority of the inputs used to value its interest rate caps fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its interest rate caps utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by the Company and its counterparties. The Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its interest rate cap positions and has determined that the credit valuation adjustments on the overall valuation adjustments are not significant to the overall valuation of its interest rate caps. As a result, the Company determined that its interest rate cap valuation in its entirety is classified in Level 2 of the fair value hierarchy. Determining fair value requires management to make certain estimates and judgments. Changes in assumptions could have a positive or negative impact on the estimated fair values of such instruments which could, in turn, impact the Company’s results of operations. See Note 18. “Subsequent Events” for information regarding interest rate caps purchased after December 31, 2022.

Equity

Equity	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Equity	Equity Stockholders’ Equity: Distributions — In March 2022, the Board approved a reduction in the quarterly distribution rate from $0.0512 per share to $0.0256 per share starting with the first quarter 2022 distribution. For the years ended December 31, 2022, 2021 and 2020, the Company declared cash distributions of $17.8 million, $35.6 million and $35.6 million, respectively, and all of which were paid in cash to stockholders. The tax composition of the Company’s distributions declared for the years ended December 31, 2022, 2021 and 2020 were as follows: Years Ended December 31, 2022 2021 2020 Ordinary income — % 43.82 % 21.88 % Capital gain — % — % 0.62 % Unrecaptured Sec. 1250 gain — % — % 11.15 % Return of capital 100.00 % 56.18 % 66.35 % Other comprehensive income (loss) — The following table reflects the effect of derivative financial instruments held by the Company, or its equity method investment, and included in the consolidated statements of comprehensive income (loss) for the years ended December 31, 2022, 2021 and 2020 (in thousands): Derivative financial instruments Gain (loss) recognized in other comprehensive loss on derivative financial instruments Location of gain (loss) reclassified into earnings Gain (loss) reclassified from accumulated other comprehensive income (loss) into earnings Years Ended December 31, Years Ended December 31, 2022 2021 2020 2022 2021 2020 Interest rate caps $ (26) $ 40 $ 11 Interest expense and loan cost amortization $ (82) $ (32) $ (44) Reclassification of interest rate caps upon derecognition — — 2 Interest expense and loan cost amortization — — (2) Interest rate cap held by unconsolidated joint venture — 5 (12) Equity in earnings of unconsolidated entity — (5) (3) Total $ (26) $ 45 $ 1 $ (82) $ (37) $ (49)

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the years ended December 31, 2022, 2021 and 2020, the Company recorded net current tax expense and deferred tax assets related to deferred income at its TRS entities. The components of the income tax expense for the years ended December 31, 2022, 2021 and 2020, excluding amounts related to discontinued operations, were as follows (in thousands): Years Ended December 31, 2022 2021 2020 Current: Federal $ (10) $ (10) $ 51 State (530) (532) (596) Total current expense (540) (542) (545) Deferred: Federal — (3,379) (552) State — (253) (1) Total deferred expense — (3,632) (553) Income tax expense $ (540) $ (4,174) $ (1,098) Deferred income taxes reflect the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets as of December 31, 2022 and 2021 are as follows: 2022 2021 Carryforwards of net operating loss $ 18,647 $ 10,847 Prepaid rent 1,044 985 Valuation allowance (19,691) (11,832) Deferred tax assets, net $ — $ — A reconciliation of the income tax expense computed at the statutory U.S. federal tax rate on income before income taxes is as follows (in thousands): Years Ended December 31, 2022 2021 2020 Tax (expense) benefit computed at federal statutory rate $ (27) (21.00) % $ 3,923 21.00 % $ (873) (21.00) % Impact of REIT election 5,714 4,465.61 1,575 8.43 303 7.28 State income tax expense net of federal benefit 630 492.27 706 3.78 (160) (3.84) Effect of change in valuation allowance (6,857) (5,358.79) (10,378) (55.55) (368) (8.86) Income tax expense $ (540) (421.91) % $ (4,174) (22.34) % $ (1,098) (26.42) %

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies From time to time, the Company may be a party to legal proceedings in the ordinary course of, or incidental to the normal course of, its business, including proceedings to enforce its contractual or statutory rights. While the Company cannot predict the outcome of these legal proceedings with certainty, based upon currently available information, the Company does not believe the final outcome of any pending or threatened legal proceeding will have a material adverse effect on its results of operations or financial condition. As a result of the Company’s completed seniors housing developments continuing to move towards or achieving stabilization, the Company monitors the lease-up of these properties to determine whether the established performance metrics have been met as of each reporting period. As of December 31, 2022, the Company had one remaining promoted interest agreement with third-party developers pursuant to which certain operating targets have been established that, upon meeting such targets, the developer will be entitled to additional payments based on enumerated percentages of the assumed net proceeds of a deemed sale, subject to achievement of an established internal rate of return on the Company’s investment in the development. The established performance metrics were not met or probable of being met as of December 31, 2022. The Company’s Advisor has approximately 1.3 million contingently issuable Restricted Stock shares for financial reporting purposes that were issued pursuant to the Advisor expense support agreement. Refer to Note 12. “Related Party Arrangements” for information on distributions declared related to these Restricted Stock shares.

Concentration of Credit Risk

Concentration of Credit Risk	12 Months Ended
	Dec. 31, 2022
Risks and Uncertainties [Abstract]
Concentration of Credit Risk	Concentration of Credit Risk For the years ended December 31, 2022, 2021 and 2020, the Company had a geographical concentration accounting for 10% or more of its total revenues, excluding the properties classified as discontinued operations, as follows: Type of Years Ended December 31, 2022 2021 2020 State of Texas (1) Geographical 20.6 % 21.3 % 21.0 % _______________ FOOTNOTE: (1) Includes rental income and related revenues and resident fees and services. Adverse economic developments in this geographical area could significantly impact the Company’s results of operations and cash flows from operations, which in turn would impact its ability to pay debt service and make distributions to stockholders.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsIn January 2023, the Company exercised its one-year extension option for the $133.0 million outstanding under its Revolving Credit Facility, which extended the maturity date to May 2024. In February 2023, the Company purchased a short-term interest rate cap with a notional value of $420.0 million and a strike of 3.5%, to hedge the majority of its Credit Facilities. The interest rate cap matures in August 2023. In March 2023, the Company repaid a mortgage loan of approximately $23 million, which was collateralized by the Watercrest at Mansfield property and scheduled to mature in June 2023.

SCHEDULE II - Valuation and Qua

SCHEDULE II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2022
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
SCEDULE II-Valuation and Qualifying Accounts	CNL HEALTHCARE PROPERTIES, INC. AND SUBSIDIARIES SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS YEARS ENDED DECEMBER 31, 2022, 2021 AND 2020 (in thousands) Year Description Balance at Charged to Charged to Balance at 2020 Deferred tax asset valuation allowance $ (1,108) $ — $ (356) $ (1,464) Allowance for doubtful accounts (1,927) (2,252) 1,156 (3,023) $ (3,035) $ (2,252) $ 800 $ (4,487) 2021 Deferred tax asset valuation allowance $ (1,464) $ (3,632) $ (6,736) $ (11,832) Allowance for doubtful accounts (3,023) (1,278) 1,161 (3,140) $ (4,487) $ (4,910) $ (5,575) $ (14,972) 2022 Deferred tax asset valuation allowance $ (11,832) $ — $ (7,859) $ (19,691) Allowance for doubtful account (3,140) (902) 2,439 (1,603) $ (14,972) $ (902) $ (5,420) $ (21,294)

SCHEDULE III - Real Estate and

SCHEDULE III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2022
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
SCHEDULE III-Real Estate and Accumulated Depreciation	Initial Costs Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at Close of Period (2) Life on which depreciation in latest income statement is computed Property/Location Encum- Land & Land Improvements Building and Building Improvements Land & Land Improvements Building and Building Improvements Construction in Process Land & Land Improvements Building and Building Improvements Construction in Process Total Accumulated Depreciation Date of Construction Date Acquired Primrose Retirement Community of Casper Casper, Wyoming $ — $ 1,910 $ 16,310 $ 61 $ 337 $ — $ 1,971 $ 16,647 $ — $ 18,618 $ (4,818) 2004 2/16/2012 (1) Primrose Retirement Community of Grand Island Grand Island, Nebraska — 719 12,140 83 1 — 802 12,141 — 12,943 (3,653) 2005 2/16/2012 (1) Primrose Retirement Community of Mansfield Mansfield, Ohio — 650 16,720 229 79 — 879 16,799 — 17,678 (5,084) 2007 2/16/2012 (1) Primrose Retirement Community of Marion Marion, Ohio — 889 16,305 110 7 — 999 16,312 — 17,311 (4,826) 2006 2/16/2012 (1) Sweetwater Retirement Community Billings, Montana — 1,578 14,205 19 30 — 1,597 14,235 — 15,832 (4,099) 2006 2/16/2012 (1) HarborChase of Villages Crossing Lady Lake, Florida ("The Villages") — 2,165 — 1,024 15,544 — 3,189 15,544 — 18,733 (3,814) 2013 8/29/2012 (1) Primrose Retirement Community Cottages Aberdeen, South Dakota — 311 3,794 — — — 311 3,794 — 4,105 (1,052) 2005 12/19/2012 (1) Primrose Retirement Community of Council Bluffs Council Bluffs, Iowa (“Omaha”) — 1,144 11,117 46 16 — 1,190 11,133 — 12,323 (3,174) 2008 12/19/2012 (1) Primrose Retirement Community of Decatur Decatur, Illinois — 513 16,706 105 184 — 618 16,890 — 17,508 (4,607) 2009 12/19/2012 (1) Primrose Retirement Community of Lima Lima, Ohio — 944 17,115 8 15 — 952 17,130 — 18,082 (4,662) 2006 12/19/2012 (1) Primrose Retirement Community of Zanesville Zanesville, Ohio — 1,184 17,292 — 74 — 1,184 17,366 — 18,550 (4,737) 2008 12/19/2012 (1) Capital Health of Symphony Manor Baltimore, Maryland — 2,319 19,444 7 305 — 2,326 19,749 — 22,075 (5,281) 2011 12/21/2012 (1) Curry House Assisted Living & Memory Care Cadillac, Michigan — 995 11,072 15 457 — 1,010 11,529 — 12,539 (3,005) 1966 12/21/2012 (1) Tranquillity at Fredericktowne Frederick, Maryland — 808 14,291 41 6,529 — 849 20,820 — 21,669 (5,889) 2000 12/21/2012 (1) Brookridge Heights Assisted Living & Memory Care Marquette, Michigan — 595 11,339 119 5,086 — 714 16,425 — 17,139 (4,801) 1998 12/21/2012 (1) Initial Costs Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at Close of Period (2) Life on which depreciation in latest income statement is computed Property/Location Encum- Land & Land Improvements Building and Building Improvements Land & Land Improvements Building and Building Improvements Construction in Process Land & Land Improvements Building and Building Improvements Construction in Process Total Accumulated Depreciation Date of Construction Date Acquired Woodholme Gardens Assisted Living & Memory Care Pikesville, Maryland (“Baltimore”) $ — $ 1,603 $ 13,472 $ 54 $ 111 $ — $ 1,657 $ 13,583 $ — $ 15,240 $ (3,676) 2010 12/21/2012 (1) HarborChase of Jasper Jasper, Alabama — 355 6,358 23 68 — 378 6,426 — 6,804 (1,611) 1998 7/31/2013 (1) Raider Ranch Lubbock, Texas — 4,992 48,818 658 13,297 — 5,650 62,115 — 67,765 (14,625) 2009 8/29/2013 (1) Town Village Oklahoma City, Oklahoma — 1,020 19,847 103 1,665 — 1,123 21,512 — 22,635 (5,465) 2004 8/29/2013 (1) Prestige Senior Living Beaverton Hills Beaverton, Oregon — 1,387 10,324 13 85 — 1,400 10,409 — 11,809 (2,534) 2000 12/2/2013 (1) Prestige Senior Living High Desert Bend, Oregon — 835 11,252 17 430 — 852 11,682 — 12,534 (2,906) 2003 12/2/2013 (1) MorningStar of Billings Billings, Montana — 4,067 41,373 54 589 — 4,121 41,962 — 46,083 (10,778) 2009 12/2/2013 (1) MorningStar of Boise Boise, Idaho — 1,663 35,752 292 355 — 1,955 36,107 — 38,062 (8,792) 2007 12/2/2013 (1) Prestige Senior Living Huntington Terrace Gresham, Oregon (“Portland”) — 1,236 12,083 2 127 — 1,238 12,210 — 13,448 (3,028) 2000 12/2/2013 (1) MorningStar of Idaho Falls Idaho Falls, Idaho — 2,006 40,397 64 420 — 2,070 40,817 — 42,887 (10,124) 2009 12/2/2013 (1) Prestige Senior Living Arbor Place Medford, Oregon — 355 14,083 11 934 — 366 15,017 — 15,383 (3,492) 2003 12/2/2013 (1) Prestige Senior Living Orchard Hills Salem, Oregon — 545 15,544 134 228 — 679 15,772 — 16,451 (3,795) 2002 12/2/2013 (1) Prestige Senior Living Southern Hills Salem, Oregon — 653 10,753 55 170 — 708 10,923 — 11,631 (2,652) 2001 12/2/2013 (1) MorningStar of Sparks Sparks, Nevada — 3,986 47,968 16 566 — 4,002 48,534 — 52,536 (12,048) 2009 12/2/2013 (1) Prestige Senior Living Five Rivers Tillamook, Oregon — 1,298 14,064 18 571 — 1,316 14,635 — 15,951 (3,685) 2002 12/2/2013 (1) Prestige Senior Living Riverwood Tualatin, Oregon (“Portland”) — 1,028 7,429 12 224 — 1,040 7,653 — 8,693 (1,920) 1999 12/2/2013 (1) Prestige Senior Living Auburn Meadows Auburn, Washington ("Seattle") — 2,537 17,261 — 1,555 — 2,537 18,816 — 21,353 (4,387) 2003/2010 2/3/2014 (1) Initial Costs Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at Close of Period (2) Life on which depreciation in latest income statement is computed Property/Location Encum- Land & Land Improvements Building and Building Improvements Land & Land Improvements Building and Building Improvements Construction in Process Land & Land Improvements Building and Building Improvements Construction in Process Total Accumulated Depreciation Date of Construction Date Acquired Prestige Senior Living Bridgewood Vancouver, Washington ("Portland") $ — $ 1,603 $ 18,172 $ 10 $ 474 $ — $ 1,613 $ 18,646 $ — $ 20,259 $ (4,344) 2001 2/3/2014 (1) Prestige Senior Living Monticello Park Longview, Washington — 1,981 23,056 1 73 — 1,982 23,129 — 25,111 (5,516) 2001/2010 2/3/2014 (1) Prestige Senior Living Rosemont Yelm, Washington — 668 14,564 14 165 — 682 14,729 — 15,411 (3,461) 2004 2/3/2014 (1) Wellmore of Tega Cay Tega Cay, South Carolina ("Charlotte") — 2,445 — 2,755 23,457 — 5,200 23,457 — 28,657 (5,883) 2015 2/7/2014 (1) Isle at Cedar Ridge Cedar Park, Texas ("Austin") — 1,525 16,277 — 670 — 1,525 16,947 — 18,472 (4,157) 2011 2/28/2014 (1) Prestige Senior Living West Hills Corvallis, Oregon — 842 12,603 11 419 — 853 13,022 — 13,875 (3,142) 2002 3/3/2014 (1) HarborChase of Plainfield Plainfield, Illinois — 1,596 21,832 123 351 — 1,719 22,183 — 23,902 (5,219) 2010 3/28/2014 (1) Legacy Ranch Alzheimer's Special Care Center Midland, Texas — 917 9,982 34 212 — 951 10,194 — 11,145 (2,427) 2012 3/28/2014 (1) The Springs Alzheimer's Special Care Center San Angelo, Texas — 595 9,658 9 206 — 604 9,864 — 10,468 (2,369) 2012 3/28/2014 (1) Isle at Watercrest - Bryan Bryan, Texas — 3,223 40,581 45 2,575 — 3,268 43,156 — 46,424 (10,379) 2011 4/21/2014 (1) Isle at Watercrest - Mansfield Mansfield, Texas ("Dallas/Fort Worth") — 997 24,635 — 363 — 997 24,998 — 25,995 (5,715) 2011 5/5/2014 (1) Watercrest at Katy Katy, Texas ("Houston") 21,228 4,000 — 127 33,996 — 4,127 33,996 — 38,123 (5,559) 2016 6/27/2014 (1) Watercrest at Mansfield Mansfield, Texas ("Dallas/Fort Worth") 22,854 2,191 42,740 24 990 — 2,215 43,730 — 45,945 (10,001) 2010 6/30/2014 (1) HarborChase of Shorewood Shorewood, Wisconsin ("Milwaukee") — 2,200 — 304 19,868 — 2,504 19,868 — 22,372 (3,748) 2015 7/8/2014 (1) Fairfield Village of Layton Layton, Utah ("Salt Lake City") — 5,217 54,167 344 648 — 5,561 54,815 — 60,376 (12,535) 2010 11/20/2014 (1) Primrose Retirement Center of Anderson Anderson, Indiana ("Muncie") — 1,342 19,083 — 33 — 1,342 19,116 — 20,458 (4,094) 2008 5/29/2015 (1) Initial Costs Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at Close of Period (2) Life on which depreciation in latest income statement is computed Property/Location Encum- Land & Land Improvements Building and Building Improvements Land & Land Improvements Building and Building Improvements Construction in Process Land & Land Improvements Building and Building Improvements Construction in Process Total Accumulated Depreciation Date of Construction Date Acquired Primrose Retirement Center of Lancaster Lancaster, Ohio ("Columbus") $ — $ 2,840 $ 21,884 $ 51 $ 345 $ — $ 2,891 $ 22,229 $ — $ 25,120 $ (5,179) 2007 5/29/2015 (1) Primrose Retirement Center of Wausau Wausau, Wisconsin ("Green Bay") — 1,089 18,653 3 15 — 1,092 18,668 — 19,760 (3,837) 2008 5/29/2015 (1) Superior Residences of Panama City Panama City Beach, Florida — 2,099 19,367 14 116 — 2,113 19,483 — 21,596 (4,107) 2015 7/15/2015 (1) The Hampton at Meadows Place Fort Bend, Texas ("Houston") — 715 24,281 11 383 — 726 24,664 — 25,390 (4,790) 2007/2013/ 2014 7/31/2015 (1) The Pavilion at Great Hills Austin, Texas — 1,783 29,318 53 284 — 1,836 29,602 — 31,438 (5,809) 2010 7/31/2015 (1) The Beacon at Gulf Breeze Gulf Breeze, Florida ("Pensacola") — 824 24,106 89 381 — 913 24,487 — 25,400 (4,943) 2008 7/31/2015 (1) Parc at Piedmont Marietta, Georgia ("Atlanta") — 3,529 43,080 36 1,582 — 3,565 44,662 — 48,227 (8,866) 2001/2011 7/31/2015 (1) Parc at Duluth Duluth, Georgia ("Atlanta") — 5,951 42,458 70 2,726 — 6,021 45,184 — 51,205 (8,755) 2003/2012 7/31/2015 (1) Waterstone on Augusta Greenville, South Carolina — 2,253 — 2,116 20,882 — 4,369 20,882 — 25,251 (3,876) 2017 8/31/2015 (1) Wellmore of Lexington Lexington, South Carolina ("Columbia") — 2,300 — 3,204 43,101 — 5,504 43,101 — 48,605 (7,239) 2017 9/14/2015 (1) Palmilla Senior Living Albuquerque, New Mexico — 4,701 38,321 33 225 — 4,734 38,546 — 43,280 (7,650) 2013 9/30/2015 (1) Cedar Lake Assisted Living and Memory Care Lake Zurich, Illinois ("Chicago") — 2,412 25,126 38 105 — 2,450 25,231 — 27,681 (5,001) 2014 9/30/2015 (1) The Shores of Lake Phalen Maplewood, Minnesota ("St. Paul") — 2,724 25,093 10 108 — 2,734 25,201 — 27,935 (4,907) 2012 11/10/2015 (1) Dogwood Forest of Grayson Grayson, Georgia — 1,788 — 112 22,084 — 1,900 22,084 — 23,984 (3,182) 2017 11/24/2015 (1) Park Place Senior Living at WingHaven O'Fallon, Missouri ("St. Louis") — 1,283 48,221 151 1,093 — 1,434 49,314 — 50,748 (9,248) 2006/2014 12/17/2015 (1) Hearthside Senior Living of Collierville Collierville, Tennessee ("Memphis") — 1,756 13,379 57 39 — 1,813 13,418 — 15,231 (2,631) 2014 12/29/2015 (1) Initial Costs Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at Close of Period (2) Life on which depreciation in latest income statement is computed Property/Location Encum- Land & Land Improvements Building and Building Improvements Land & Land Improvements Building and Building Improvements Construction in Process Land & Land Improvements Building and Building Improvements Construction in Process Total Accumulated Depreciation Date of Construction Date Acquired Albuquerque, New Mexico – Vacant Land Albuquerque, New Mexico $ — $ 1,056 $ — $ — $ — $ — $ 1,056 $ — $ — $ 1,056 $ — — 9/7/2017 (1) Finton Assisted Living Vinton, Iowa 2,679 1,083 3,439 — — — 1,083 3,439 — 4,522 (117) 2007 8/31/2012 (1) Webster City Assisted Living Webster City, Iowa 2,435 912 3,794 — 1 — 912 3,795 — 4,707 (123) 2007 8/31/2012 (1) Nevada Assisted Living Nevada, Iowa 5,439 1,749 7,196 — — — 1,749 7,196 — 8,945 (240) 2011 8/31/2012 (1) Grinnell Assisted Living Grinnell, Iowa 5,196 1,690 4,454 13 5 — 1,703 4,459 — 6,162 (167) 2005 4/2/2013 (1) Indianola Assisted Living Indianola, Iowa 2,110 986 3,369 6 1 — 992 3,370 — 4,362 (114) 2004 4/2/2013 (1) $ 61,941 $ 123,155 $ 1,267,517 $ 13,261 $ 228,035 $ — $ 136,416 $ 1,495,552 $ — $ 1,631,968 $ (338,350) Transactions in real estate and accumulated depreciation as of December 31, 2022 are as follows: Balance December 31, 2019 $ 1,712,827 Balance December 31, 2019 $ (226,529) 2020 Improvements 3,020 2020 Depreciation (42,430) 2020 Dispositions (75,313) 2020 Accumulated depreciation on dispositions 6,565 Balance December 31, 2020 1,640,534 Balance December 31, 2020 (262,394) 2021 Improvements 6,385 2021 Depreciation (42,215) 2021 Dispositions (6,764) 2021 Accumulated depreciation on dispositions 842 2021 Impairments (9,673) Balance December 31, 2021 (303,767) Balance December 31, 2021 1,630,482 2022 Depreciation (43,781) 2022 Acquisitions (3) 28,672 2022 Accumulated depreciation on dispositions 9,198 2022 Improvements 11,339 Balance December 31, 2022 $ (338,350) 2022 Dispositions (38,525) Balance December 31, 2022 $ 1,631,968 _______________ FOOTNOTES: (1) Buildings and building improvements are depreciated over 39 and 15 years, respectively. Tenant improvements are depreciated over the terms of their respective leases. (2) The aggregate cost for federal income tax purposes is approximately $1.8 billion. (3) Represents the consolidation of the five properties held by the Windsor Manor Joint Venture, effective January 1, 2022, as described in Note 4. “Acquisition.”

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation — The accompanying consolidated financial statements include the Company’s accounts, the accounts of wholly owned subsidiaries or subsidiaries for which the Company has a controlling interest, the accounts of two variable interest entities (“VIEs”) in which the Company is the primary beneficiary, and the accounts of other subsidiaries over which the Company has a controlling financial interest. All material intercompany accounts and transactions have been eliminated in consolidation.
Government Grant Income	Government Grant Income — On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was signed into law which provided, among other things, for the establishment of a Provider Relief Fund under the direction of the Department of Health and Human Services (“HHS”). Provider relief funds received under the CARES Act are deemed governmental grants provided that the recipient attests to and complies with certain terms and conditions. Grant income is recognized upon receipt of provider relief funds and when all the conditions of the grant have been met. During the years ended December 31, 2022, 2021 and 2020, the Company recorded approximately $4.3 million, $0.5 million and $5.3 million respectively, as other income in the accompanying consolidated statements of operations as all conditions of the grant had been met.
Use of Estimates	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated financial statements, the reported amounts of revenues and expenses during the reporting periods and the disclosure of contingent liabilities. For example, significant assumptions are made in the analysis of real estate impairments, the valuation of contingent assets and liabilities, and the valuation of restricted common stock (“Restricted Stock”) shares issued to the Advisor. Accordingly, actual results could differ from those estimates.
Depreciation and Amortization	Depreciation and Amortization — Real estate costs related to the acquisition and improvement of properties are capitalized. Repair and maintenance costs are charged to expense as incurred and significant replacements and improvements are capitalized. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset. The Company considers the period of future benefit of an asset to determine its appropriate useful life. Real estate assets are stated at cost less accumulated depreciation, which is computed using the straight-line method of accounting over the estimated useful lives of the related assets. Buildings and improvements are depreciated on the straight-line method over their estimated useful lives, which generally are the lesser of 39 and 15 years, respectively. Amortization of intangible assets is computed using the straight-line method of accounting over the shorter of the respective lease term or estimated useful life. If a lease is terminated or modified prior to its scheduled expiration, the Company recognizes a loss on lease termination related to the unamortized lease-related costs not deemed to be recoverable.
Impairment of Real Estate Assets	Impairment of Real Estate Assets — Real estate assets are reviewed on an ongoing basis to determine whether there are any impairment indicators. Management considers potential impairment indicators to primarily include (i) changes in a real estate asset’s operating performance, such as a current period net operating loss combined with a history of net operating losses, or a projection or forecast that demonstrates continuing losses associated with the use of a real estate asset or (ii) a current expectation that, more likely than not, a real estate asset will be sold or otherwise disposed of significantly before the end of its previously estimated holding period. To assess if an asset group is potentially impaired, management compares the estimated current and projected undiscounted cash flows, including estimated net sales proceeds, of the asset group over its remaining useful life to the net carrying value of the asset group. Such cash flow projections consider factors such as expected future operating income, trends and prospects, as well as the effects of demand, competition and other factors. In the event that the carrying value exceeds the undiscounted operating cash flows, the Company would recognize an impairment provision to adjust the carrying value of the asset group to the estimated fair value. When impairment indicators are present for real estate indirectly owned, through an investment in a joint venture or other similar investment structure accounted for under the equity method, the Company compares the estimated fair value of its investment to the carrying value. An impairment charge will be recorded to the extent the fair value of the investment is less than the carrying value and the decline in value is determined to be other than a temporary decline.
Assets Held For Sale, net and Discontinued Operations	Assets Held For Sale, net and Discontinued Operations — The Company determines to classify a property as held for sale once management has the authority to approve and commits to a plan to sell the property, the property is available for immediate sale, there is an active program to locate a buyer, the sale of the property is probable and the transfer of the property is expected to occur within one year. Upon the determination to classify a property as held for sale, the Company ceases recording further depreciation and amortization relating to the associated assets and those assets are measured at the lower of its carrying amount or fair value less disposition costs and are presented separately in the consolidated balance sheets for all periods presented. In addition, the Company classifies assets held for sale as discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on the Company’s operations and financial results. For any disposal(s) qualifying as discontinued operations, the Company allocates interest expense and loan cost amortization that directly relates to either: (1) expense on mortgages and other notes payable collateralized by properties classified as discontinued operations; or (2) expense on the Company’s credit facilities, which is allocated based on the value of the properties that are classified as discontinued operations if these properties are included in the credit facilities’ unencumbered pool of assets and the related indebtedness is required to be repaid upon sale of the properties.
Assets Reclassified from Held for Sale to Held and Used	Assets Reclassified from Held for Sale to Held and Used —
Cash	Cash — Cash consists of demand deposits at commercial banks. The Company also invests in cash equivalents consisting of highly liquid investments in money market funds with original maturities of three months or less. As of December 31, 2022, certain of the Company’s cash deposits exceeded federally insured amounts. However, the Company continues to monitor the third-party depository institutions that hold the Company’s cash, primarily with the goal of safeguarding principal. The Company attempts to limit cash investments to financial institutions with high credit standing; therefore, the Company believes it is not exposed to any significant credit risk on cash.
Restricted Cash	Restricted Cash —
Held-to-Maturity Securities	Held-to-Maturity Securities — From time to time, the Company may invest in U.S. Treasuries, which it has designated as held-to-maturity (“HTM”) securities, because the Company has both the ability and the intent to hold them until maturity. All assets classified as HTM are included within other assets in the consolidated balance sheets and reported at stated cost plus any premiums or discounts. Premiums or discounts are amortized or accreted as interest and other income in the consolidated statement of operations.
Loan Costs	Loan Costs —
Deferred Lease-Related Costs	Deferred Lease-Related Costs —
Revenue Recognition	Revenue Recognition — Rental income and related revenues for operating leases are recognized based on the assessment of collectability of lease payments. When collectability is probable at commencement of the lease, lease income is recognized on an accrual basis and includes rental income that is recorded on the straight-line basis over the term of the lease. Collectability is reassessed during the lease term. When collectability of lease payments is no longer probable, lease income is recorded on a cash basis and limited to the amount of lease payments collected. In addition, lease related costs (the deferred rent from prior GAAP straight-line adjustments, unamortized lease costs and other lease related intangibles) are written-off when the Company determines that these assets are no longer realizable. Rental income and related revenues recorded on an accrual basis include rental income that is recorded on the straight-line basis over the terms of the leases. The straight-line method records the periodic average amount of base rent earned over the term of a lease, taking into account contractual rent increases over the lease term. The Company records the difference between base rent revenues earned and amounts due per the respective lease agreements, as applicable, as an increase or decrease to deferred rent and lease incentives in the accompanying consolidated balance sheets. Rental income and related revenues also include amounts for which tenants are required to reimburse the Company related to expenses incurred on behalf of the tenants, in accordance with the terms of the leases. Tenant reimbursements are recognized in the period in which the related reimbursable expenses are incurred, such as real estate taxes, common area maintenance, and similar items. Some of the Company’s leases require the tenants to pay certain additional contractual amounts that are set aside by the Company for replacements of fixed assets and other improvements to the properties. These amounts are and will remain the property of the Company during and after the term of the lease. The amounts are recorded as capital improvement reserve income at the time such amounts are earned and are included in rental income and related revenues in the accompanying consolidated statements of operations. Additional percentage rent that is due contingent upon tenant performance thresholds, such as gross revenues, is deferred until the underlying performance thresholds have been achieved. Resident fees and services are operating revenues relating to the Company’s managed seniors housing properties, which are operated under RIDEA structures. Resident fees and services directly relate to the provision of monthly goods and services that are generally bundled together under a single resident agreement. The Company accounts for its resident agreements as a single performance obligation given the Company’s overall promise to provide a series of stand-ready goods and services to its residents each month. Resident fees and services are recorded in the period in which the goods are provided and the services are performed and generally consist of (1) monthly rent, which covers occupancy of the residents’ unit as well as basic services, such as utilities, meals and certain housekeeping services, and (2) service level charges, such as assisted living care, memory care and ancillary services. Resident agreements are generally short-term in nature, billed monthly in advance and cancellable by the residents with a 30-day notice. Resident agreements may require the payment of upfront fees prior to moving into the community with any non-refundable portion of such fees being recorded as deferred revenue and amortized over the estimated resident stay.
Derivative Financial Instruments	Derivative Financial Instruments — The Company and an unconsolidated equity method investment held by the Company use or have used derivative financial instruments to partially offset the effect of fluctuating interest rates on the cash flows associated with its variable-rate debt. Upon entry into a derivative, the Company or its unconsolidated equity method investment formally designates and documents the financial instrument as a hedge of a specific underlying exposure, as well as the risk management objectives and strategies for undertaking the hedge transaction. The Company or its unconsolidated equity method investment accounts for derivatives through the use of a fair value concept whereby the derivative positions are stated at fair value in other assets in the accompanying consolidated balance sheets. The fair value of derivatives used to hedge or modify risk fluctuates over time. As such, the fair value amounts should not be viewed in isolation, but rather in relation to the cash flows or fair value of the underlying hedged transaction and to the overall reduction in the exposure relating to adverse fluctuations in interest rates on the Company’s or its unconsolidated equity method investment’s variable-rate debt. Realized and unrealized gain (loss) on derivative financial instruments designated by either the Company or its unconsolidated equity method investment as cash flow hedges are reported as a component of other comprehensive income (loss), a component of stockholders’ equity, in the accompanying consolidated statements of comprehensive income (loss) to the extent they are effective; reclassified into earnings on the same line item associated with the hedged transaction and in the same period the hedged transaction affects earnings. Realized and unrealized gain (loss) on derivative financial instruments designated as cash flow hedges that are entered into by the Company’s equity method investment are reported as a component of the Company’s other comprehensive income (loss) in proportion to the Company’s ownership percentage in the investment, with reclassifications being included in equity in earnings (loss) of unconsolidated entity in the accompanying consolidated statements of operations.
Fair Value Measurements	Fair Value Measurements — Fair value assumptions are based on the framework established in the fair value accounting guidance under GAAP. The framework specifies a hierarchy of valuation inputs which was established to increase consistency, clarity and comparability in fair value measurements and related disclosures. The guidance describes the following fair value hierarchy based upon three levels of inputs that may be used to measure fair value, two of which are considered observable and one that is considered unobservable: • Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. • Level 2 — Inputs, other than quoted prices included in Level 1, that are observable for the asset or liability either directly or indirectly; such as, quoted prices for similar assets or liabilities or other inputs that can be corroborated by observable market data. • Level 3 — Unobservable inputs for the asset or liability, which are typically based on the Company’s own assumptions, as there is little, if any, related market activity. When market data inputs are unobservable, the Company utilizes inputs that it believes reflects the Company’s best estimate of the assumptions market participants would use in pricing the asset or liability. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement. The estimated fair value of accounts payable and accrued liabilities approximates the carrying value as of December 31, 2022 and 2021 because of the relatively short maturities of the obligations.
Mortgages and Other Notes Payable	Mortgages and Other Notes Payable — Mortgages and other notes payable are recorded at the stated principal amount and are generally collateralized by the Company’s properties. Mortgages and other notes payable assumed in connection with an acquisition are recorded at fair market value as of the date of the acquisition.
Net Income (Loss) per Share	Net Income (Loss) per Share —
Share Based Payments to Non-Employees	Share-Based Payments to Non-Employees — In connection with the expense support agreement described in Note 12. “Related Party Arrangements,” the Company may issue Restricted Stock to the Advisor on an annual basis in exchange for providing expense support in the event that cash distributions declared exceed MFFO as defined by the expense support agreement. The Restricted Stock is forfeited if stockholders do not ultimately receive their original invested capital back with at least a 6% annualized return of investment upon a future liquidity or disposition event of the Company. Upon issuance of Restricted Stock, the Company measures the fair value at its then-current lowest aggregate fair value pursuant to ASC 505-50. On the date in which the Advisor satisfies the vesting criteria, the Company remeasures the fair value of the Restricted Stock pursuant to ASC 505-50 and records expense equal to the difference between the original fair value and that of the remeasurement date. In addition, given that performance is outside the control of the Advisor and involves both market conditions and counterparty performance conditions, the shares are treated as unissued for accounting purposes and the Company only includes the Restricted Stock in the calculation of diluted earnings per share to the extent their effect is dilutive and the vesting conditions have been satisfied as of the reporting date. Pursuant to the expense support agreement, the Advisor shall be the record owner of the Restricted Stock until the shares of common stock are sold or otherwise disposed of, and shall be entitled to all of the rights of a stockholder of the Company including, without limitation, the right to vote such shares (to the extent permitted by the Company’s articles of incorporation) and receive all distributions paid with respect to such shares. All distributions actually paid to the Advisor in connection with the Restricted Stock shall vest immediately and will not be subject to forfeiture. The Company recognizes expense related to the distributions on the Restricted Stock shares as declared.
Segment Information	Segment Information — Operating segments are components of an enterprise for which separate financial information is available and is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and assess performance. The Company has determined that it operates in one operating segment, real estate ownership. The Company’s chief operating decision maker evaluates the Company’s operations from a number of different operational perspectives including, but not limited to, a property-by-property basis, by tenant or by operator. The Company derives all significant revenues from a single reportable operating segment of business, healthcare real estate, regardless of the type (seniors housing, medical office, etc.) or ownership structure (leased or managed). Accordingly, the Company does not report segment information; nevertheless, management periodically evaluates whether the Company continues to have one single reportable segment of business.
Redeemable Noncontrolling Interests	Redeemable Noncontrolling Interest —
Promoted Interest	Promoted Interest —
Income Taxes	Income Taxes — The Company has elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended and related regulations beginning with the year ended December 31, 2012. In order to be taxed as a REIT, the Company is subject to certain organizational and operational requirements, including the requirement to make distributions to its stockholders each year of at least 90% of its annual REIT taxable income (which is computed without regard to the dividends-paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). If the Company qualifies for taxation as a REIT, the Company generally will not be subject to U.S. federal income tax on income that the Company distributes as dividends. If the Company fails to qualify as a REIT in any taxable year, the Company will be subject to U.S. federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost, unless the IRS grants the Company relief under certain statutory provisions. Even if the Company qualifies for taxation as a REIT, it may be subject to certain state and local taxes on its income and property, and U.S. federal income and excise taxes on its undistributed income. The Company has formed subsidiaries which elected to be taxed as a TRS for U.S. federal income tax purposes. Under the provisions of the Internal Revenue Code and applicable state laws, a TRS will be subject to tax on its taxable income from its operations. The Company will account for federal and state income taxes with respect to a TRS using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities, the respective tax bases, operating losses and/or tax-credit carryforwards. A valuation allowance is provided if the Company believes it is more likely than not that all or some portion of the deferred tax asset will not be realized. Any increase or decrease in the valuation allowance that results from a change in circumstances, and that causes the Company to change our judgment about the realizability of the related deferred tax asset, is included in the tax provision when such changes occur.
Investments in Unconsolidated Entities	Investment in Unconsolidated Entity — The Company accounted for its investment in an unconsolidated joint venture under the equity method of accounting as the Company exercised significant influence, but did not maintain a controlling financial interest over these entities. The investment was recorded initially at cost and subsequently adjusted for cash contributions, distributions and equity in earnings (loss) of the unconsolidated entity. Based on the joint venture’s structure and any preference the Company received on distributions and liquidation, the Company recorded its equity in earnings (loss) of the unconsolidated entity under the hypothetical liquidation at book value (“HLBV”) method of accounting. Under this method, the Company recognized income or loss in each period as if the net book value of the assets in the venture were hypothetically liquidated at the end of each reporting period pursuant to the provisions of the joint venture agreement. In any given period, the Company could have recorded more or less equity in earnings (loss) than actual cash distributions received or an investment balance that was more or less than what the Company may have received in the event of an actual liquidation. The Company determined whether distributions were classified as returns on investment or returns of investment based on the nature of the distribution. As described in Note 4. “Acquisition,” effective January 1, 2022, the Company acquired the remaining ownership interest in the Windsor Manor Joint Venture and consolidated the Windsor Manor Joint Venture. As of December 31, 2022, the Company did not have an investment in an unconsolidated entity.
Reclassifications	Reclassifications — Certain amounts in the prior years’ consolidated balance sheet and statements of cash flows have been reclassified to conform to the current year’s presentation.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements —

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Summary of Disaggregation of Revenue	The following table presents disaggregated revenue related to the Company’s resident fees and services during the years ended December 31, 2022, 2021 and 2020: Years Ended December 31, Number of Units (Unaudited) Revenues (in millions) Percentage of Revenues 2022 2021 2020 2022 2021 2020 2022 2021 2020 Resident fees and services: Independent living 2,223 2,243 2,256 $ 74.1 $ 69.6 $ 72.6 25.0 % 26.2 % 25.9 % Assisted living 3,041 2,960 2,947 146.9 128.9 138.1 49.7 48.6 49.2 Memory care 932 904 904 60.6 53.2 57.7 20.5 20.1 20.5 Other revenues — — — 14.2 13.6 12.5 4.8 5.1 4.4 6,196 6,107 6,107 $ 295.8 $ 265.3 $ 280.9 100.0 % 100.0 % 100.0 %

Acquisition (Tables)

Acquisition (Tables)	12 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the fair market value of the assets and liabilities recorded as part of the acquisition, adjusted on a relative fair value basis for the difference between the consideration transferred and the fair market value of the net assets acquired, of the Windsor Manor Joint Venture as of the acquisition date (in thousands): Equity method investment in unconsolidated joint venture $ 4,737 Consideration paid for additional 25% interest in joint venture 3,310 Total equity method investment and consideration paid $ 8,047 Cash $ 2,097 Restricted cash 79 Prepaid and other assets 64 Real estate assets 29,384 Intangibles 4,281 Total assets acquired 35,905 Accounts payable and accrued expenses (953) Other liabilities (61) Mortgages and notes payable (18,468) Total liabilities assumed (19,482) Net assets acquired $ 16,423

Real Estate Assets, net (Tables

Real Estate Assets, net (Tables)	12 Months Ended
	Dec. 31, 2022
Real Estate [Abstract]
Schedule of Real Estate Investment Properties Excluding Assets Held For Sale	The gross carrying amount and accumulated depreciation of the Company’s real estate assets as of December 31, 2022 and 2021 are as follows, excluding one asset held for sale (in thousands): December 31, 2022 2021 Land and land improvements $ 136,416 $ 131,312 Building and building improvements 1,495,552 1,486,630 Furniture, fixtures and equipment 105,784 101,063 Less: accumulated depreciation (424,314) (380,149) Real estate investment properties, net $ 1,313,438 $ 1,338,856

Intangibles, net (Tables)

Intangibles, net (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Net Book Value of Intangibles Excluding Assets Held for Sale	The gross carrying amount and accumulated amortization of the Company’s intangible assets as of December 31, 2022 and 2021 are as follows (in thousands): As of December 31, 2022 (1) 2021 In-place lease intangibles $ 5,017 $ 3,944 Less: accumulated amortization (3,769) (3,512) Intangible assets, net $ 1,248 $ 432 _______________ FOOTNOTE:
Schedule of Estimated Future Amortization	The estimated future amortization on the Company’s intangibles for each of the next five years and thereafter, in the aggregate, as of December 31, 2022 is as follows (in thousands): 2023 $ 1,144 2024 73 2025 31 2026 — 2027 — Thereafter — $ 1,248

Held-to-Maturity Securities (Ta

Held-to-Maturity Securities (Tables)	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of Held-to-Maturity Securities	The following presents the face value and carrying value of investments in short term securities by collateral type as of December 31, 2022 (in thousands): U.S. Treasuries Amortized cost basis $ 24,360 Gross unrealized losses (27) Fair value $ 24,333

Operating Leases (Tables)

Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Lessee, Operating Lease, Liability, Maturity	The following are future minimum lease payments for the Company’s 15 senior housing properties to be received under non-cancellable operating leases for the next five years and thereafter, in the aggregate, as of December 31, 2022 (in thousands): 2023 $ 26,888 2024 27,337 2025 20,708 2026 9,287 2027 9,556 Thereafter 43,259 $ 137,035

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Aggregate Carrying Amount and Major Classifications of Consolidated Assets and Liabilities	The aggregate carrying amount and major classifications of the consolidated assets that can be used to settle obligations of the VIEs and liabilities of the consolidated VIEs that are non-recourse to the Company as of December 31, 2022 and 2021 are as follows (in thousands): As of December 31, 2022 2021 Assets: Real estate investment properties, net $ 30,906 $ 42,612 Cash $ 646 $ 1,597 Restricted cash $ 9 $ 59 Other assets $ 554 $ 544 Liabilities: Mortgages and other notes payable, net $ 21,142 $ 28,855 Accounts payable and accrued liabilities $ 533 $ 1,489 Other liabilities $ 91 $ 299

Indebtedness (Tables)

Indebtedness (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Details of Indebtedness, Excluding Indebtedness Associated with Assets Held for Sale	The following table provides details of the Company’s indebtedness as of December 31, 2022 and 2021 (in thousands): As of December 31, 2022 2021 Mortgages payable and other notes payable: Fixed rate debt (1) $ 44,082 $ 89,766 Variable rate debt (1)(2)(3) 17,859 — Premium (4) 17 59 Loan costs, net (185) (425) Total mortgages and other notes payable, net 61,773 89,400 Credit facilities: Revolving Credit Facility (6)(7) 133,000 88,000 Term Loan Facility (5)(6)(7) 265,000 265,000 2021 Term Loan Facility (5)(6)(7) 150,000 150,000 Loan costs, net related to Term Loan Facilities (1,900) (3,272) Total credit facilities, net 546,100 499,728 Total indebtedness, net $ 607,873 $ 589,128 _______________ FOOTNOTES: (1) As of December 31, 2022 and 2021, the Company’s mortgages and other notes payable are collateralized by seven properties with total carrying value of approximately $92.7 million and $135.4 million, respectively. (2) In connection with the acquisition of the 25% interest in the Windsor Manor Joint Venture, the Company consolidated the net assets of the joint venture effective January 1, 2022, including the debt associated with the properties, at fair value. The debt collateralized by the five Windsor Manor properties pay interest at a rate of 2.50% plus 30-day LIBOR and matures in February 2024. The 30-day LIBOR was approximately 4.39% as of December 31, 2022. (3) As of December 31, 2022, the Company had interest rate protection through an interest rate cap with a notional amount of $15.0 million. Refer to Note 13. “Derivative Financial Instruments” for additional information. (4) Premium is reflective of the Company recording mortgage note payables assumed at fair value on the respective acquisition dates. (5) As of December 31, 2021 and during the year ended December 31, 2022, the Company had interest rate protection through interest rate caps with notional amounts of $355.0 million. The interest rate caps expired on December 31, 2022. Refer to Note 13. “Derivative Financial Instruments” for additional information. (6) As of December 31, 2022 and 2021, the Company had undrawn availability under the applicable revolving credit facility of approximately $117.0 million and $14.1 million, respectively, based on the value of the properties in the unencumbered pool of assets supporting the loan. (7) Term SOFR (as defined by the agreements governing the Credit Facilities) was approximately 4.46% as of December 31, 2022. The 30-day LIBOR was approximately 0.10% as of December 31, 2021.
Schedule of Maturities of Indebtedness	The following is a schedule of future principal payments for the Company’s total indebtedness for the next five years and thereafter, in the aggregate, as of December 31, 2022 (in thousands): 2023 (1) $ 157,054 2024 452,887 2025 — 2026 — 2027 — Thereafter — $ 609,941 _______________ FOOTNOTE:
Schedule of Indebtedness	The following table details the Company’s mortgages and other notes payable as of December 31, 2022 and 2021 (in thousands): Property and Loan Interest Rate at December 31, 2022 Payment Terms Maturity Date (1) December 31, 2022 2021 Primrose I Communities; Mortgage Loan 4.11% per annum Monthly principal and interest payments based on a 30-year amortization schedule 9/1/2022 $ — $ 45,019 Watercrest at Mansfield; Mortgage Loan (2) 4.68% per annum Monthly principal and interest payments based on a total payment of $143,330 6/1/2023 22,854 23,473 Watercrest at Katy; 3.25% per annum Monthly principal and interest payments based on a 25-year amortization schedule 11/15/2024 21,228 21,274 Total fixed rate debt 44,082 89,766 Windsor Manor Communities; Mortgage Loan (3) 30-Day LIBOR plus 2.50% per annum Monthly principal and interest payments based on a 25-year amortization schedule 2/28/2024 17,859 — Total variable rate debt 17,859 — Total mortgages and other notes payable $ 61,941 $ 89,766 _______________ FOOTNOTES: (1) Represents the initial maturity date (or, as applicable, the maturity date as extended). (2) The balance for this loan excludes a remaining premium of $0.02 million related to the mortgage note payable assumed being recorded at fair value on the acquisition date. The Company repaid this loan on March 1, 2023. Refer to Note 18. “Subsequent Events” for additional information. (3) In connection with the acquisition of the 25% interest in the Windsor Manor Joint Venture, the Company consolidated the net assets of the joint venture effective January 1, 2022, including the debt associated with the properties, at fair value.
Schedule of Fair Market Value and Carrying Value of Indebtedness	The following table provides the details of the fair market value and carrying value of the Company’s indebtedness as of December 31, 2022 and 2021 (in millions): December 31, 2022 December 31, 2021 Fair Carrying Fair Carrying Mortgages and other notes payable, net $ 60.8 $ 61.8 $ 90.4 $ 89.4 Credit facilities, net $ 548.0 $ 546.1 $ 503.0 $ 499.7

Related Party Arrangements (Tab

Related Party Arrangements (Tables)	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Schedule of Fees, Reimbursable Expenses and Related Amounts Unpaid to Related Parties	The expenses and fees incurred by and reimbursable to the Company’s related parties, including amounts included in income from discontinued operations, for the years ended December 31, 2022, 2021 and 2020, and related amounts unpaid as of December 31, 2022 and 2021 are as follows (in thousands): Years Ended December 31, Unpaid amounts as of (1) 2022 2021 2020 December 31, December 31, Reimbursable expenses: Operating expenses (2) $ 3,056 $ 2,972 $ 3,517 $ 238 $ 214 3,056 2,972 3,517 238 214 Investment services fee (3) 60 — — — — Disposition fee (4) 195 — 143 — — Financing coordination fees (5) — 1,500 61 — — Asset management fees 14,074 15,740 18,190 1,159 1,192 $ 17,385 $ 20,212 $ 21,911 $ 1,397 $ 1,406 _______________ FOOTNOTES: (1) Amounts are recorded as due to related parties in the accompanying consolidated balance sheets. (2) Amounts are recorded as general and administrative expenses in the accompanying consolidated statements of operations unless such amounts represent prepaid expenses, which are capitalized in the accompanying consolidated balance sheets. (3) For the year ended December 31, 2022, the Company incurred approximately $0.1 million in investment services fees, all of which was capitalized and included in real estate assets, net in the accompanying consolidated balance sheets. For the years ended December 31, 2021 and 2020, the Company did not incur any investment services fees. (4) Amounts are recorded as a reduction to gain on sale of real estate in the accompanying consolidated statements of operations. (5) For the years ended December 31, 2021 and 2020, the Company incurred financing coordination fees of approximately $1.5 million and $0.1 million, respectively, all of which were capitalized as loan costs and reflected in mortgages and other notes payable, net in the accompanying consolidated balance sheets. The Company did not incur any financing coordination fees for the year ended December 31, 2022.

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Derivative Financial Instruments and Corresponding Asset (Liability)	The following summarizes the terms of the Company's, or its equity method investment's, interest rate caps and the corresponding asset as of December 31, 2022 and 2021 (in thousands): Notional Amount (1) Strike Trade Forward Maturity Fair Value Asset as of December 31, 2022 2021 $ 130,000 1.0 % 10/7/2021 10/7/2021 12/31/2022 $ — $ 63 $ 225,000 2.0 % 12/22/2021 12/31/2021 12/31/2022 $ — $ 28 $ 15,000 3.5 % 12/28/2022 12/28/2022 7/1/2023 $ 99 $ — _______________ FOOTNOTE: (1) Amounts related to the interest rate caps held by the Company are recorded at fair value and included in other assets in the accompanying consolidated balance sheets.

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Tax Components Of Dividends Declared	The tax composition of the Company’s distributions declared for the years ended December 31, 2022, 2021 and 2020 were as follows: Years Ended December 31, 2022 2021 2020 Ordinary income — % 43.82 % 21.88 % Capital gain — % — % 0.62 % Unrecaptured Sec. 1250 gain — % — % 11.15 % Return of capital 100.00 % 56.18 % 66.35 %
Derivative Instruments, Gain (Loss)	The following table reflects the effect of derivative financial instruments held by the Company, or its equity method investment, and included in the consolidated statements of comprehensive income (loss) for the years ended December 31, 2022, 2021 and 2020 (in thousands): Derivative financial instruments Gain (loss) recognized in other comprehensive loss on derivative financial instruments Location of gain (loss) reclassified into earnings Gain (loss) reclassified from accumulated other comprehensive income (loss) into earnings Years Ended December 31, Years Ended December 31, 2022 2021 2020 2022 2021 2020 Interest rate caps $ (26) $ 40 $ 11 Interest expense and loan cost amortization $ (82) $ (32) $ (44) Reclassification of interest rate caps upon derecognition — — 2 Interest expense and loan cost amortization — — (2) Interest rate cap held by unconsolidated joint venture — 5 (12) Equity in earnings of unconsolidated entity — (5) (3) Total $ (26) $ 45 $ 1 $ (82) $ (37) $ (49)

Income Taxes (Table)

Income Taxes (Table)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The components of the income tax expense for the years ended December 31, 2022, 2021 and 2020, excluding amounts related to discontinued operations, were as follows (in thousands): Years Ended December 31, 2022 2021 2020 Current: Federal $ (10) $ (10) $ 51 State (530) (532) (596) Total current expense (540) (542) (545) Deferred: Federal — (3,379) (552) State — (253) (1) Total deferred expense — (3,632) (553) Income tax expense $ (540) $ (4,174) $ (1,098)
Schedule of Deferred Tax Assets and Liabilities	Significant components of the Company’s deferred tax assets as of December 31, 2022 and 2021 are as follows: 2022 2021 Carryforwards of net operating loss $ 18,647 $ 10,847 Prepaid rent 1,044 985 Valuation allowance (19,691) (11,832) Deferred tax assets, net $ — $ —
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the income tax expense computed at the statutory U.S. federal tax rate on income before income taxes is as follows (in thousands): Years Ended December 31, 2022 2021 2020 Tax (expense) benefit computed at federal statutory rate $ (27) (21.00) % $ 3,923 21.00 % $ (873) (21.00) % Impact of REIT election 5,714 4,465.61 1,575 8.43 303 7.28 State income tax expense net of federal benefit 630 492.27 706 3.78 (160) (3.84) Effect of change in valuation allowance (6,857) (5,358.79) (10,378) (55.55) (368) (8.86) Income tax expense $ (540) (421.91) % $ (4,174) (22.34) % $ (1,098) (26.42) %

Concentration of Credit Risk (T

Concentration of Credit Risk (Tables)	12 Months Ended
	Dec. 31, 2022
Risks and Uncertainties [Abstract]
Geographical Concentrations that Individually Accounted for 10% or More of Total Revenues Excluding Assets Classified as Held for Sale	For the years ended December 31, 2022, 2021 and 2020, the Company had a geographical concentration accounting for 10% or more of its total revenues, excluding the properties classified as discontinued operations, as follows: Type of Years Ended December 31, 2022 2021 2020 State of Texas (1) Geographical 20.6 % 21.3 % 21.0 % _______________ FOOTNOTE: (1) Includes rental income and related revenues and resident fees and services. Adverse economic developments in this geographical area could significantly impact the Company’s results of operations and cash flows from operations, which in turn would impact its ability to pay debt service and make distributions to stockholders.

Organization - Additional Infor

Organization - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2022 Agreement Property State	Dec. 31, 2017 Property
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Number of properties		70
Investment Portfolio
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Number of properties	70
Number of states | State	26
Number of seniors housing properties	69
Investment Portfolio | Vacant Land Parcel
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Number of properties | Agreement	1

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) OperatingSegments	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Accumulated amortization of loan costs	$ 8.9	$ 9.5
Annualized return of investment	6%
Number of segment | OperatingSegments	1
Building | Maximum
Summary Of Significant Accounting Policies [Line Items]
Real estate assets, estimated useful life	39 years
Improvements [Member] | Minimum
Summary Of Significant Accounting Policies [Line Items]
Real estate assets, estimated useful life	15 years
Provider Relief Fund | COVID Nineteen
Summary Of Significant Accounting Policies [Line Items]
Grant Income Received From P R F H S S	$ 4.3	$ 0.5	$ 5.3

Revenue - Summary of Disaggrega

Revenue - Summary of Disaggregation of Revenue (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) Facility	Dec. 31, 2021 USD ($) Facility	Dec. 31, 2020 USD ($) Facility
Disaggregation Of Revenue [Line Items]
Number of Units | Facility	6,196	6,107	6,107
Resident fees and services | $	$ 295,799	$ 265,321	$ 280,854
Percentage of Revenues	100%	100%	100%
Independent Living
Disaggregation Of Revenue [Line Items]
Number of Units | Facility	2,223	2,243	2,256
Resident fees and services | $	$ 74,100	$ 69,600	$ 72,600
Percentage of Revenues	25%	26.20%	25.90%
Assisted Living
Disaggregation Of Revenue [Line Items]
Number of Units | Facility	3,041	2,960	2,947
Resident fees and services | $	$ 146,900	$ 128,900	$ 138,100
Percentage of Revenues	49.70%	48.60%	49.20%
Memory Care
Disaggregation Of Revenue [Line Items]
Number of Units | Facility	932	904	904
Resident fees and services | $	$ 60,600	$ 53,200	$ 57,700
Percentage of Revenues	20.50%	20.10%	20.50%
Other Revenues
Disaggregation Of Revenue [Line Items]
Number of Units | Facility	0	0	0
Resident fees and services | $	$ 14,200	$ 13,600	$ 12,500
Percentage of Revenues	4.80%	5.10%	4.40%

Acquisition - Additional Inform

Acquisition - Additional Information (Details)		12 Months Ended
	Jan. 01, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) Properties	Dec. 31, 2020 USD ($)	Dec. 31, 2017 Property
Asset Acquisition [Line Items]
Gain on change of control of a joint venture		$ 8,376,000	$ 0	$ 0
Number of properties | Property					70
Windsor Manor Joint Venture
Asset Acquisition [Line Items]
Percentage of ownership acquired	25%		75%
Payments to acquire business	$ 3,300,000
Number of properties | Properties			5
Goodwill			$ 0

Acquisition - Schedule of the F

Acquisition - Schedule of the Fair Value of the Assets Acquired and Liabilities Assumed (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Consideration paid for additional 25% interest in joint venture	$ 1,134,000	$ 0	$ 0
Windsor Manor Joint Venture
Business Acquisition [Line Items]
Equity method investment in unconsolidated joint venture	4,737,000
Consideration paid for additional 25% interest in joint venture	3,310,000
Total equity method investment and consideration paid	8,047,000
Cash	2,097,000
Restricted cash	79,000
Prepaid and other assets	64,000
Real estate assets	29,384,000
Intangibles	4,281,000
Total assets acquired	35,905,000
Accounts payable and accrued expenses	(953,000)
Other liabilities	(61,000)
Mortgages and notes payable	(18,468,000)
Total liabilities assumed	(19,482,000)
Net assets acquired	$ 16,423,000

Acquisition - Schedule of the_2

Acquisition - Schedule of the Fair Value of the Assets Acquired and Liabilities Assumed - Footnotes (Details)	Jan. 01, 2022	Dec. 31, 2021
Windsor Manor Joint Venture
Business Acquisition [Line Items]
Percentage of ownership acquired	25%	75%

Real Estate Assets, Net - Sched

Real Estate Assets, Net - Schedule of Real Estate Investment Properties Excluding Assets Held For Sale (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Real Estate [Abstract]
Land and land improvements	$ 136,416	$ 131,312
Building and building improvements	1,495,552	1,486,630
Furniture, fixtures and equipment	105,784	101,063
Less: accumulated depreciation	(424,314)	(380,149)
Real estate investment properties, net	$ 1,313,438	$ 1,338,856

Real Estate Assets, Net - Addit

Real Estate Assets, Net - Additional Information (Detail) - USD ($) $ in Thousands		12 Months Ended
	Aug. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Real Estate [Line Items]
Gain on sale of property		$ 6,282	$ 0	$ 1,074
Fieldstone Sale
Real Estate [Line Items]
Gain on sale of property	$ 6,300
Gain (loss) on sale of properties, attributable to stakeholders	5,400
Disposition expense	$ 100
Real Estate Investment Properties
Real Estate [Line Items]
Depreciation expense		$ 50,700	$ 50,000	$ 51,400

Intangibles, net - Schedule of

Intangibles, net - Schedule of Net Book Value of Intangibles Excluding Assets Held for Sale (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Less: accumulated amortization	$ (3,769)	$ (3,512)
Intangible assets, net	1,248	432
In-place lease intangibles
Finite-Lived Intangible Assets [Line Items]
In-place lease intangibles	5,017	$ 3,944
Fully amortized intangibles	$ 3,200

Intangibles, net - Additional I

Intangibles, net - Additional Information (Detail) - USD ($) $ in Millions		12 Months Ended
	Jan. 01, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Amortization expense on intangible assets		$ 3.5	$ 0.4	$ 0.4
Windsor Manor Joint Venture
Finite-Lived Intangible Assets [Line Items]
Percentage of ownership acquired	25%		75%
Finite-lived intangible asset, acquired-in-place leases	$ 4.3
Acquired finite-lived intangible assets, weighted average amortization period	1 year 3 months 18 days

Intangibles, net - Schedule o_2

Intangibles, net - Schedule of Estimated Future Amortization (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2023	$ 1,144
2024	73
2025	31
2026	0
2027	0
Thereafter	0
Intangible assets, net	$ 1,248	$ 432

Assets Held For Sale and Disc_2

Assets Held For Sale and Discontinued Operations - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Apr. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Long Lived Assets Held For Sale [Line Items]
Impairments		$ 9,673
Net sale proceeds	$ 8,300
MOB/Healthcare Portfolio
Long Lived Assets Held For Sale [Line Items]
(Loss) income from discontinued operations		(10)	$ 1,000
Hurst Specialty Hospital
Long Lived Assets Held For Sale [Line Items]
Impairments		$ 9,800

Held-to-Maturity Securities (De

Held-to-Maturity Securities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Investments, Debt and Equity Securities [Abstract]
Amortized cost basis	$ 24,360
Gross unrealized losses	(27)
Fair value	$ 24,333
Weighted average life remaining	8 months

Operating Leases - Additional I

Operating Leases - Additional Information (Details) - Triple Net Lease Agreements Member $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) Properties tenant
Operating Leased Assets [Line Items]
Number of seniors housing properties | Properties	15
Number of tenants | tenant	2
Total annualized property tax | $	$ 3.2
Weighted average remaining lease term	4 years 8 months 12 days
Extended lease period	5 years

Operating Leases - Schedule of

Operating Leases - Schedule of Future Minimum Lease Payments to be Received Under Non-Cancellable Operating Leases Excluding Properties Classified as Discontinued Operations (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Leases [Abstract]
2023	$ 26,888
2024	27,337
2025	20,708
2026	9,287
2027	9,556
Thereafter	43,259
Operating leases future minimum payments receivable	$ 137,035

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Detail)	1 Months Ended	12 Months Ended
	Aug. 31, 2022 USD ($)	Dec. 31, 2022 USD ($) Subsidiary	Dec. 31, 2021 USD ($) Subsidiary	Dec. 31, 2020 USD ($)
Variable Interest Entity [Line Items]
Sale proceeds to noncontrolling interests		$ 2,215,000	$ 160,000	$ 122,000
Maximum exposure to loss VIEs limits		$ 9,700,000
Variable Interest Entity, Primary Beneficiary | Joint Ventures Real Estate Under Development Entities
Variable Interest Entity [Line Items]
Number of subsidiaries | Subsidiary		2	2
Net proceeds from sale of property	$ 16,000,000
Sale proceeds to noncontrolling interests	$ 2,000,000

Variable Interest Entities - Ag

Variable Interest Entities - Aggregate Carrying Amount and Major Classifications of Consolidated Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Real estate investment properties, net	$ 1,313,438	$ 1,338,856
Cash	69,504	53,161
Restricted cash	4,070	4,520
Other assets	36,868	18,700
Mortgages and other notes payable, net	61,773	89,400
Accounts payable and accrued liabilities	30,270	29,170
Other liabilities	7,469	6,115
Variable Interest Entity
Variable Interest Entity [Line Items]
Real estate investment properties, net	30,906	42,612
Cash	646	1,597
Restricted cash	9	59
Other assets	554	544
Mortgages and other notes payable, net	21,142	28,855
Accounts payable and accrued liabilities	533	1,489
Other liabilities	$ 91	$ 299

Indebtedness - Details of Indeb

Indebtedness - Details of Indebtedness, Excluding Indebtedness Associated with Assets Held for Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Premium	$ 17	$ 59
Total mortgages and other notes payable, net	61,773	89,400
Credit facilities	546,100	499,728
Total credit facilities, net	546,100	499,728
Total indebtedness, net	607,873	589,128
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facilities	133,000	88,000
Term Loan Facility
Debt Instrument [Line Items]
Loan costs, net	(1,900)	(3,272)
Credit facilities	265,000	265,000
2021 Term Loan Facility
Debt Instrument [Line Items]
Credit facilities	150,000	150,000
Fixed Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable	44,082	89,766
Variable Interest Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable	17,859	0
Mortgages payable and other notes payable
Debt Instrument [Line Items]
Loan costs, net	$ (185)	$ (425)

Indebtedness - Details of Ind_2

Indebtedness - Details of Indebtedness, Excluding Indebtedness Associated with Assets Held for Sale - Footnotes (Detail) $ in Millions	1 Months Ended		12 Months Ended
	Jun. 30, 2022 Properties	Oct. 31, 2021 Properties	Dec. 31, 2022 USD ($) Properties	Dec. 31, 2021 USD ($)	Jan. 01, 2022
Debt Instrument [Line Items]
Number of collateralized properties owned | Properties			7,000
Number of debt collateralized properties | Properties	5	22
Notional amounts of derivative contract			$ 15	$ 355
Windsor Manor Joint Venture
Debt Instrument [Line Items]
Percentage of ownership acquired				75%	25%
Secured Debt
Debt Instrument [Line Items]
Mortgages and other notes payable carrying value of collateral			$ 92.7	$ 135.4
Mortgages | Windsor Manor
Debt Instrument [Line Items]
Maturity date			Feb. 28, 2024
30-day LIBOR
Debt Instrument [Line Items]
Debt instrument interest rate during period			4.39%	0.10%
Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument interest rate during period				4.46%
Revolving Credit Facility
Debt Instrument [Line Items]
Debt Instrument, Current borrowing capacity			$ 117	$ 14.1

Indebtedness - Additional Infor

Indebtedness - Additional Information (Detail) $ in Thousands	1 Months Ended			12 Months Ended
	Jun. 30, 2022 USD ($) Properties	Oct. 31, 2021 USD ($) Properties	Sep. 30, 2021 USD ($) Extension	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Debt Instrument [Line Items]
Loan borrowing				$ 45,000	$ 238,000	$ 40,000
Repayment of loan borrowed				0	0	80,000
Financing fees					1,500	$ 100
Number of debt collateralized properties | Properties	5	22
Refinanced amount	$ 44,500
Mortgage loan maturing in next six months				$ 23,000
Maximum allowable distributions as a percentage of adjusted FFO				95%
Revolving Credit Facility
Debt Instrument [Line Items]
Available				$ 117,000	$ 14,100
2021 Term Loan Facility
Debt Instrument [Line Items]
Aggregate maximum principal amount available for borrowing			$ 150,000
Line of credit facility, initial maturity date			May 15, 2024
Number of extension options available | Extension			1
Line of credit facility extension period			12 months
Credit facility, interest description			bore interest based on 30-day LIBOR plus a spread that varies with the Company's leverage ratio
Financing fees			$ 900
Refinanced secured indebtedness		$ 238,000
Line of credit facility, initial maturity		2022-01
2021 Term Loan Facility | Advisor
Debt Instrument [Line Items]
Financing fees			$ 1,500

Indebtedness - Schedule of Matu

Indebtedness - Schedule of Maturities of Indebtedness (Details) - USD ($)	1 Months Ended
	Jan. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
2023		$ 157,054,000
2024		452,887,000
2025		0
2026		0
2027		0
Thereafter		0
Long-term debt		609,941,000
Credit facilities		546,100,000	$ 499,728,000
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facilities		$ 133,000,000	$ 88,000,000
Subsequent Event | Revolving Credit Facility
Debt Instrument [Line Items]
Extension period on credit facility	1 year

Indebtedness - Schedule of Inde

Indebtedness - Schedule of Indebtedness (Details) - USD ($)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Carrying value		$ 609,941,000
Fixed Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable		44,082,000	$ 89,766,000
Variable Interest Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable		17,859,000	0
Mortgages
Debt Instrument [Line Items]
Carrying value		61,941,000	89,766,000
Mortgages | Fixed Rate Debt
Debt Instrument [Line Items]
Carrying value		44,082,000	89,766,000
Mortgages | Variable Interest Rate Debt
Debt Instrument [Line Items]
Carrying value		$ 17,859,000	0
Mortgages | Primrose I Communities
Debt Instrument [Line Items]
Interest on Loan accrues - fixed rate		4.11%
Principal and interest payments amortizable period		30 years
Maturity date	[1]	Sep. 01, 2022
Mortgages | Primrose I Communities | Fixed Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable		$ 0	45,019,000
Mortgages | Watercrest at Mansfield
Debt Instrument [Line Items]
Interest on Loan accrues - fixed rate		4.68%
Periodic payment		$ 143,330
Maturity date	[1],[2]	Jun. 01, 2023
Mortgages | Watercrest at Mansfield | Fixed Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable		$ 22,854,000	23,473,000
Mortgages | Watercrest At Katy
Debt Instrument [Line Items]
Interest on Loan accrues - fixed rate		3.25%
Principal and interest payments amortizable period		25 years
Maturity date	[1]	Nov. 15, 2024
Mortgages | Watercrest At Katy | Fixed Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable		$ 21,228,000	21,274,000
Mortgages | Windsor Manor
Debt Instrument [Line Items]
Principal and interest payments amortizable period		25 years
Maturity date		Feb. 28, 2024
Mortgages | Windsor Manor | Variable Interest Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable		$ 17,859,000	$ 0
30-day LIBOR | Windsor Manor
Debt Instrument [Line Items]
Interest on Loan accrues - variable rate		2.50%
[1]Represents the initial maturity date (or, as applicable, the maturity date as extended).[2]The balance for this loan excludes a remaining premium of $0.02 million related to the mortgage note payable assumed being recorded at fair value on the acquisition date. The Company repaid this loan on March 1, 2023. Refer to Note 18. “Subsequent Events” for additional information. (3) In connection with the acquisition of the 25% interest in the Windsor Manor Joint Venture, the Company consolidated the net assets of the joint venture effective January 1, 2022, including the debt associated with the properties, at fair value.

Indebtedness - Schedule of In_2

Indebtedness - Schedule of Indebtedness - Footnotes (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Jan. 01, 2022	Dec. 31, 2021
Windsor Manor Joint Venture
Debt Instrument [Line Items]
Percentage of ownership acquired		25%	75%
Primrose I Communities | Mortgages
Debt Instrument [Line Items]
Interest on Loan accrues - fixed rate	4.11%
Watercrest at Mansfield | Mortgages
Debt Instrument [Line Items]
Interest on Loan accrues - fixed rate	4.68%
Watercrest at Mansfield | Mortgages | Fixed Rate Debt
Debt Instrument [Line Items]
Remaining loan premium	$ 20

Indebtedness - Schedule of Fair

Indebtedness - Schedule of Fair Market Value and Carrying Value of Indebtedness (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Carrying value	$ 609,941
Mortgages and other notes payable, net
Debt Instrument [Line Items]
Fair Value	60,800	$ 90,400
Carrying value	61,800	89,400
Credit facilities
Debt Instrument [Line Items]
Fair Value	548,000	503,000
Carrying value	$ 546,100	$ 499,700

Related Party Arrangements - Ad

Related Party Arrangements - Additional Information (Detail) - USD ($) shares in Thousands, $ in Thousands	1 Months Ended		12 Months Ended
	May 31, 2021	Apr. 30, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Annualized return of investment			6%
Investment services fees			$ 0	$ 0	$ 0
Cash paid to stockholders			17,814	35,627	35,627
Restricted Stock
Related Party Transaction [Line Items]
Cash paid to stockholders			$ 136	273	273
Advisor
Related Party Transaction [Line Items]
Investment service fee as percentage of purchase price of properties			1.85%
Percentage of asset management fee	0.80%	1%
Financing coordination fee as percentage of gross amount of refinancing			1%
Property disposition fee payable as percentage equals to gross market capitalization upon listing on national securities exchange	0.80%	1%
Property disposition fee payable as percentage equals to gross sales price			6%
Annualized return of investment			6%
Operating expenses reimbursement percentage of average investment in assets			2%
Operating expenses reimbursement percentage of net income			25%
Annualized return of investment			6%
CNL Capital Markets Corp
Related Party Transaction [Line Items]
Investment services fees			$ 900	$ 900	$ 900
Expense Support Agreements | Restricted Stock
Related Party Transaction [Line Items]
Restricted stock fair value			$ 13,600
Restricted Stock shares			1,300

Related Party Arrangements - Sc

Related Party Arrangements - Schedule of Fees, Reimbursable Expenses and Related Amounts Unpaid to Related Parties (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Line of Credit Facility [Line Items]
Total related amount unpaid		$ 1,397	$ 1,406
Expense Support Agreements
Line of Credit Facility [Line Items]
Operating expenses	[1]	3,056	2,972	$ 3,517
Total reimbursable expenses		3,056	2,972	3,517
Investment services fee		60	0	0
Disposition fee	[2]	195	0	143
Financing coordination fees	[3]	0	1,500	61
Asset management fees		14,074	15,740	18,190
Total reimbursable expenses, net		17,385	20,212	$ 21,911
Operating expenses, unpaid	[1],[4]	238	214
Total reimbursable expenses	[4]	238	214
Investment services fee		0	0
Disposition fees, unpaid	[2],[4]	0	0
Financing coordination fees, unpaid	[3],[4]	0	0
Asset management fees, unpaid	[4]	1,159	1,192
Total related amount unpaid	[4]	$ 1,397	$ 1,406
[1]Amounts are recorded as general and administrative expenses in the accompanying consolidated statements of operations unless such amounts represent prepaid expenses, which are capitalized in the accompanying consolidated balance sheets. (3) For the year ended December 31, 2022, the Company incurred approximately $0.1 million in investment services fees, all of which was capitalized and included in real estate assets, net in the accompanying consolidated balance sheets. For the years ended December 31, 2021 and 2020, the Company did not incur any investment services fees.

Related Party Arrangements - _2

Related Party Arrangements - Schedule of Fees, Reimbursable Expenses and Related Amounts Unpaid to Related Parties - Footnotes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Financing coordination fees		$ 1,500	$ 100
Expense Support Agreements
Related Party Transaction [Line Items]
Investment services fee	$ 60	$ 0	$ 0

Derivative Financial Instrume_3

Derivative Financial Instruments - Summary of Derivative Financial Instruments and Corresponding Asset (Liability) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Notional amounts of derivative contract		$ 15,000	$ 355,000
Derivative Financial Instruments One
Derivative [Line Items]
Notional amounts of derivative contract	[1]	$ 130,000
Strike		1%
Trade date		Oct. 07, 2021
Forward date		Oct. 07, 2021
Maturity date		Dec. 31, 2022
Fair value asset (liability)		$ 0	63
Derivative Financial Instruments Two
Derivative [Line Items]
Notional amounts of derivative contract	[1]	$ 225,000
Strike		2%
Trade date		Dec. 22, 2021
Forward date		Dec. 31, 2021
Maturity date		Dec. 31, 2022
Fair value asset (liability)		$ 0	28
Derivative Financial Instruments Three
Derivative [Line Items]
Notional amounts of derivative contract		$ 15,000
Strike		3.50%
Trade date		Dec. 28, 2022
Forward date		Dec. 28, 2022
Maturity date		Jul. 01, 2023
Fair value asset (liability)		$ 99	$ 0
[1]Amounts related to the interest rate caps held by the Company are recorded at fair value and included in other assets in the accompanying consolidated balance sheets.

Equity - Additional Information

Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		12 Months Ended
	Mar. 31, 2022	Feb. 28, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Distribution rate (in dollars per share)	$ 0.0256	$ 0.0512
Cash distribution declared			$ 17,814	$ 35,627	$ 35,627

Equity - Tax Composition of Com

Equity - Tax Composition of Company's Distributions Declared (Detail)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Uncategorized [Abstract]
Ordinary income	0%	43.82%	21.88%
Capital gain	0%	0%	0.62%
Unrecaptured Sec. 1250 gain	0%	0%	11.15%
Return of capital	100%	56.18%	66.35%

Equity - Effect of Derivative F

Equity - Effect of Derivative Financial Instruments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive loss on derivative financial instruments	$ (26)	$ 45	$ 1
Gain (loss) reclassified from accumulated other comprehensive income (loss) into earnings	(82)	(37)	(49)
Interest Rate Cap
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive loss on derivative financial instruments	(26)	40	11
Gain (loss) reclassified from accumulated other comprehensive income (loss) into earnings	(82)	(32)	(44)
Reclassification of Interest Rate Caps upon Derecognition
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive loss on derivative financial instruments	0	0	2
Gain (loss) reclassified from accumulated other comprehensive income (loss) into earnings	0	0	(2)
Interest Rate Cap Held by Unconsolidated Joint Venture
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive loss on derivative financial instruments	0	5	(12)
Gain (loss) reclassified from accumulated other comprehensive income (loss) into earnings	$ 0	$ (5)	$ (3)

Income Taxes - Components of In

Income Taxes - Components of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current:
Federal	$ (10)	$ (10)	$ 51
State	(530)	(532)	(596)
Total Current Expense	(540)	(542)	(545)
Deferred:
Federal	0	(3,379)	(552)
State	0	(253)	(1)
Total deferred expense	0	(3,632)	(553)
Income tax expense	$ (540)	$ (4,174)	$ (1,098)

Income Taxes - Significant Comp

Income Taxes - Significant Components of Deferred Tax Assets (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Carryforwards of net operating loss	$ 18,647,000	$ 10,847,000
Prepaid rent	1,044,000	985,000
Valuation allowance	(19,691,000)	(11,832,000)
Deferred tax assets, net	$ 0	$ 0

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Income Tax (Expense) Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Tax (expense) benefit computed at federal statutory rate	$ (27)	$ 3,923	$ (873)
Impact of REIT election	5,714	1,575	303
State income tax expense net of federal benefit	630	706	(160)
Effect of change in valuation allowance	(6,857)	(10,378)	(368)
Income tax expense	$ (540)	$ (4,174)	$ (1,098)
Tax (expense) benefit computed at federal statutory rate	(21.00%)	(21.00%)	(21.00%)
Impact of REIT election	4,465.61%	8.43%	7.28%
State income tax expense net of federal benefit	492.27%	3.78%	(3.84%)
Effect of change in valuation allowance	(5358.79%)	(55.55%)	(8.86%)
Income tax expense	(421.91%)	(22.34%)	(26.42%)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Examination [Line Items]
Net operating loss carryforwards for federal and state	$ 70.8	$ 39.5
Operating loss carry forwards indefinite carry forward	$ 56.6
Tax year subject to examination	2019
Domestic Tax Authority
Income Tax Examination [Line Items]
Net Operating loss carryforwards, beginning of expiration year	2032

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) shares in Millions	12 Months Ended
	Dec. 31, 2022 Agreement shares
Commitments And Contingencies [Line Items]
Number of promoted interest agreements | Agreement	1
Advisor Expense Support Agreement | Restricted Stock
Commitments And Contingencies [Line Items]
Contingently issuable restricted stock shares | shares	1.3

Concentration of Credit Risk -

Concentration of Credit Risk - Additional Information (Details)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
State of Texas | Geographical Concentration | Total Revenue
Concentration Risk [Line Items]
Concentration risk percentage	[1]	20.60%	21.30%	21%
[1]Includes rental income and related revenues and resident fees and services. Adverse economic developments in this geographical area could significantly impact the Company’s results of operations and cash flows from operations, which in turn would impact its ability to pay debt service and make distributions to stockholders.

Geographical Concentrations tha

Geographical Concentrations that Individually Accounted for 10% or More of Total Revenues Excluding Assets Classified as Held for Sale (Detail)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Geographical | Total Revenue | State of Texas
Concentration Risk [Line Items]
Concentration risk percentage	[1]	20.60%	21.30%	21%
[1]Includes rental income and related revenues and resident fees and services. Adverse economic developments in this geographical area could significantly impact the Company’s results of operations and cash flows from operations, which in turn would impact its ability to pay debt service and make distributions to stockholders.

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($) $ in Thousands		1 Months Ended
	Mar. 10, 2023	Feb. 28, 2023	Jan. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Subsequent Event [Line Items]
Credit facilities				$ 546,100	$ 499,728
Notional amounts of derivative contract				15,000	355,000
Revolving Credit Facility
Subsequent Event [Line Items]
Credit facilities				$ 133,000	$ 88,000
Subsequent Event | Revolving Credit Facility
Subsequent Event [Line Items]
Extension period on credit facility			1 year
Subsequent Event | Mortgages
Subsequent Event [Line Items]
Repayments of debt	$ 23,000
Subsequent Event | Short term Interest Rate Cap
Subsequent Event [Line Items]
Notional amounts of derivative contract		$ 420,000
Derivative instrument, strike		3.50%

SCHEDULE II - Valuation and Q_2

SCHEDULE II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Year	$ (14,972)	$ (4,487)	$ (3,035)
Charged to Costs and Expenses	(902)	(4,910)	(2,252)
Charged to Other Accounts	(5,420)	(5,575)	800
Balance at End of Year	(21,294)	(14,972)	(4,487)
Valuation Allowance Of Deferred Tax Assets
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Year	(11,832)	(1,464)	(1,108)
Charged to Costs and Expenses	0	(3,632)	0
Charged to Other Accounts	(7,859)	(6,736)	(356)
Balance at End of Year	(19,691)	(11,832)	(1,464)
Allowance For Doubtful Accounts
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Year	(3,140)	(3,023)	(1,927)
Charged to Costs and Expenses	(902)	(1,278)	(2,252)
Charged to Other Accounts	2,439	1,161	1,156
Balance at End of Year	$ (1,603)	$ (3,140)	$ (3,023)

SCHEDULE III - Real Estate An_2

SCHEDULE III - Real Estate And Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 61,941
Initial Costs, Land & Land Improvements	123,155
Initial Costs, Building and Building Improvements	1,267,517
Costs Capitalized Subsequent to Acquisition, Land & Improvements	13,261
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	228,035
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	136,416
Gross Amounts at which Carried at Close of period, Building & Building Improvements	1,495,552
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	1,631,968	$ 1,630,482	$ 1,640,534	$ 1,712,827
Real Estate Accumulated Depreciation	(338,350)	$ (303,767)	$ (262,394)	$ (226,529)
Primrose Retirement Community Casper, Wyoming
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Costs, Land & Land Improvements	1,910
Initial Costs, Building and Building Improvements	16,310
Costs Capitalized Subsequent to Acquisition, Land & Improvements	61
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	337
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,971
Gross Amounts at which Carried at Close of period, Building & Building Improvements	16,647
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	18,618
Real Estate Accumulated Depreciation	$ (4,818)
Date of construction	2004
Date Acquired	Feb. 16, 2012
Primrose Retirement Community Of Grand Island
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	719
Initial Costs, Building and Building Improvements	12,140
Costs Capitalized Subsequent to Acquisition, Land & Improvements	83
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	1
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	802
Gross Amounts at which Carried at Close of period, Building & Building Improvements	12,141
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	12,943
Real Estate Accumulated Depreciation	$ (3,653)
Date of construction	2005
Date Acquired	Feb. 16, 2012
Primrose Retirement Community Mansfield, Ohio
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	650
Initial Costs, Building and Building Improvements	16,720
Costs Capitalized Subsequent to Acquisition, Land & Improvements	229
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	79
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	879
Gross Amounts at which Carried at Close of period, Building & Building Improvements	16,799
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	17,678
Real Estate Accumulated Depreciation	$ (5,084)
Date of construction	2007
Date Acquired	Feb. 16, 2012
Primrose Retirement Community Marion, Ohio
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	889
Initial Costs, Building and Building Improvements	16,305
Costs Capitalized Subsequent to Acquisition, Land & Improvements	110
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	7
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	999
Gross Amounts at which Carried at Close of period, Building & Building Improvements	16,312
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	17,311
Real Estate Accumulated Depreciation	$ (4,826)
Date of construction	2006
Date Acquired	Feb. 16, 2012
Sweetwater Retirement Community Billings, Montana
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	1,578
Initial Costs, Building and Building Improvements	14,205
Costs Capitalized Subsequent to Acquisition, Land & Improvements	19
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	30
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,597
Gross Amounts at which Carried at Close of period, Building & Building Improvements	14,235
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	15,832
Real Estate Accumulated Depreciation	$ (4,099)
Date of construction	2006
Date Acquired	Feb. 16, 2012
HarborChase Community Lady Lake, Florida
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	2,165
Initial Costs, Building and Building Improvements	0
Costs Capitalized Subsequent to Acquisition, Land & Improvements	1,024
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	15,544
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	3,189
Gross Amounts at which Carried at Close of period, Building & Building Improvements	15,544
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	18,733
Real Estate Accumulated Depreciation	$ (3,814)
Date of construction	2013
Date Acquired	Aug. 29, 2012
Primrose Retirement Community Aberdeen, South Dakota
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	311
Initial Costs, Building and Building Improvements	3,794
Costs Capitalized Subsequent to Acquisition, Land & Improvements	0
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	0
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	311
Gross Amounts at which Carried at Close of period, Building & Building Improvements	3,794
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	4,105
Real Estate Accumulated Depreciation	$ (1,052)
Date of construction	2005
Date Acquired	Dec. 19, 2012
Primrose Retirement Community Council Bluffs, Iowa
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	1,144
Initial Costs, Building and Building Improvements	11,117
Costs Capitalized Subsequent to Acquisition, Land & Improvements	46
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	16
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,190
Gross Amounts at which Carried at Close of period, Building & Building Improvements	11,133
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	12,323
Real Estate Accumulated Depreciation	$ (3,174)
Date of construction	2008
Date Acquired	Dec. 19, 2012
Primrose Retirement Community Decatur, Illinois
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	513
Initial Costs, Building and Building Improvements	16,706
Costs Capitalized Subsequent to Acquisition, Land & Improvements	105
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	184
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	618
Gross Amounts at which Carried at Close of period, Building & Building Improvements	16,890
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	17,508
Real Estate Accumulated Depreciation	$ (4,607)
Date of construction	2009
Date Acquired	Dec. 19, 2012
Primrose Retirement Community Lima, Ohio
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	944
Initial Costs, Building and Building Improvements	17,115
Costs Capitalized Subsequent to Acquisition, Land & Improvements	8
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	15
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	952
Gross Amounts at which Carried at Close of period, Building & Building Improvements	17,130
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	18,082
Real Estate Accumulated Depreciation	$ (4,662)
Date of construction	2006
Date Acquired	Dec. 19, 2012
Primrose Retirement Community Zanesville, Ohio
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	1,184
Initial Costs, Building and Building Improvements	17,292
Costs Capitalized Subsequent to Acquisition, Land & Improvements	0
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	74
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,184
Gross Amounts at which Carried at Close of period, Building & Building Improvements	17,366
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	18,550
Real Estate Accumulated Depreciation	$ (4,737)
Date of construction	2008
Date Acquired	Dec. 19, 2012
Capital Health of Symphony Manor Baltimore, Maryland
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	2,319
Initial Costs, Building and Building Improvements	19,444
Costs Capitalized Subsequent to Acquisition, Land & Improvements	7
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	305
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	2,326
Gross Amounts at which Carried at Close of period, Building & Building Improvements	19,749
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	22,075
Real Estate Accumulated Depreciation	$ (5,281)
Date of construction	2011
Date Acquired	Dec. 21, 2012
Curry House Assisted Living & Memory Care Cadillac, Michigan
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	995
Initial Costs, Building and Building Improvements	11,072
Costs Capitalized Subsequent to Acquisition, Land & Improvements	15
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	457
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,010
Gross Amounts at which Carried at Close of period, Building & Building Improvements	11,529
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	12,539
Real Estate Accumulated Depreciation	$ (3,005)
Date of construction	1966
Date Acquired	Dec. 21, 2012
Tranquillity at Fredericktowne, Maryland
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	808
Initial Costs, Building and Building Improvements	14,291
Costs Capitalized Subsequent to Acquisition, Land & Improvements	41
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	6,529
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	849
Gross Amounts at which Carried at Close of period, Building & Building Improvements	20,820
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	21,669
Real Estate Accumulated Depreciation	$ (5,889)
Date of construction	2000
Date Acquired	Dec. 21, 2012
Brookridge Heights Assisted Living and Memory Care Marquette, Michigan
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	595
Initial Costs, Building and Building Improvements	11,339
Costs Capitalized Subsequent to Acquisition, Land & Improvements	119
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	5,086
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	714
Gross Amounts at which Carried at Close of period, Building & Building Improvements	16,425
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	17,139
Real Estate Accumulated Depreciation	$ (4,801)
Date of construction	1998
Date Acquired	Dec. 21, 2012
Woodholme Gardens Assisted Living and Memory Care Pikesville, Maryland
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	1,603
Initial Costs, Building and Building Improvements	13,472
Costs Capitalized Subsequent to Acquisition, Land & Improvements	54
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	111
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,657
Gross Amounts at which Carried at Close of period, Building & Building Improvements	13,583
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	15,240
Real Estate Accumulated Depreciation	$ (3,676)
Date of construction	2010
Date Acquired	Dec. 21, 2012
HarborChase of Jasper Jasper, Alabama
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	355
Initial Costs, Building and Building Improvements	6,358
Costs Capitalized Subsequent to Acquisition, Land & Improvements	23
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	68
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	378
Gross Amounts at which Carried at Close of period, Building & Building Improvements	6,426
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	6,804
Real Estate Accumulated Depreciation	$ (1,611)
Date of construction	1998
Date Acquired	Jul. 31, 2013
Raider Ranch Lubbock, Texas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	4,992
Initial Costs, Building and Building Improvements	48,818
Costs Capitalized Subsequent to Acquisition, Land & Improvements	658
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	13,297
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	5,650
Gross Amounts at which Carried at Close of period, Building & Building Improvements	62,115
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	67,765
Real Estate Accumulated Depreciation	$ (14,625)
Date of construction	2009
Date Acquired	Aug. 29, 2013
Town Village Oklahoma City, Oklahoma
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	1,020
Initial Costs, Building and Building Improvements	19,847
Costs Capitalized Subsequent to Acquisition, Land & Improvements	103
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	1,665
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,123
Gross Amounts at which Carried at Close of period, Building & Building Improvements	21,512
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	22,635
Real Estate Accumulated Depreciation	$ (5,465)
Date of construction	2004
Date Acquired	Aug. 29, 2013
Prestige Senior Living Beaverton Hills Beaverton, Oregon
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	1,387
Initial Costs, Building and Building Improvements	10,324
Costs Capitalized Subsequent to Acquisition, Land & Improvements	13
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	85
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,400
Gross Amounts at which Carried at Close of period, Building & Building Improvements	10,409
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	11,809
Real Estate Accumulated Depreciation	$ (2,534)
Date of construction	2000
Date Acquired	Dec. 02, 2013
Prestige Senior Living High Desert Bend, Oregon
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	835
Initial Costs, Building and Building Improvements	11,252
Costs Capitalized Subsequent to Acquisition, Land & Improvements	17
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	430
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	852
Gross Amounts at which Carried at Close of period, Building & Building Improvements	11,682
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	12,534
Real Estate Accumulated Depreciation	$ (2,906)
Date of construction	2003
Date Acquired	Dec. 02, 2013
MorningStar of Billings Billings, Montana
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	4,067
Initial Costs, Building and Building Improvements	41,373
Costs Capitalized Subsequent to Acquisition, Land & Improvements	54
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	589
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	4,121
Gross Amounts at which Carried at Close of period, Building & Building Improvements	41,962
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	46,083
Real Estate Accumulated Depreciation	$ (10,778)
Date of construction	2009
Date Acquired	Dec. 02, 2013
MorningStar of Boise Boise, Idaho
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	1,663
Initial Costs, Building and Building Improvements	35,752
Costs Capitalized Subsequent to Acquisition, Land & Improvements	292
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	355
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,955
Gross Amounts at which Carried at Close of period, Building & Building Improvements	36,107
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	38,062
Real Estate Accumulated Depreciation	$ (8,792)
Date of construction	2007
Date Acquired	Dec. 02, 2013
Prestige Senior Living Huntington Terrace Gresham, Oregon
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	1,236
Initial Costs, Building and Building Improvements	12,083
Costs Capitalized Subsequent to Acquisition, Land & Improvements	2
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	127
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,238
Gross Amounts at which Carried at Close of period, Building & Building Improvements	12,210
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	13,448
Real Estate Accumulated Depreciation	$ (3,028)
Date of construction	2000
Date Acquired	Dec. 02, 2013
MorningStar of Idaho Falls Idaho Falls, Idaho
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	2,006
Initial Costs, Building and Building Improvements	40,397
Costs Capitalized Subsequent to Acquisition, Land & Improvements	64
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	420
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	2,070
Gross Amounts at which Carried at Close of period, Building & Building Improvements	40,817
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	42,887
Real Estate Accumulated Depreciation	$ (10,124)
Date of construction	2009
Date Acquired	Dec. 02, 2013
Prestige Senor Living Arbor Place Medford, Oregon
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	355
Initial Costs, Building and Building Improvements	14,083
Costs Capitalized Subsequent to Acquisition, Land & Improvements	11
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	934
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	366
Gross Amounts at which Carried at Close of period, Building & Building Improvements	15,017
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	15,383
Real Estate Accumulated Depreciation	$ (3,492)
Date of construction	2003
Date Acquired	Dec. 02, 2013
Prestige Senior Living Orchard Hills Salem, Oregon
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	545
Initial Costs, Building and Building Improvements	15,544
Costs Capitalized Subsequent to Acquisition, Land & Improvements	134
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	228
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	679
Gross Amounts at which Carried at Close of period, Building & Building Improvements	15,772
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	16,451
Real Estate Accumulated Depreciation	$ (3,795)
Date of construction	2002
Date Acquired	Dec. 02, 2013
Prestige Senior Living Southern Hills Salem, Oregon
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	653
Initial Costs, Building and Building Improvements	10,753
Costs Capitalized Subsequent to Acquisition, Land & Improvements	55
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	170
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	708
Gross Amounts at which Carried at Close of period, Building & Building Improvements	10,923
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	11,631
Real Estate Accumulated Depreciation	$ (2,652)
Date of construction	2001
Date Acquired	Dec. 02, 2013
MorningStar of Sparks Sparks, Nevada
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	3,986
Initial Costs, Building and Building Improvements	47,968
Costs Capitalized Subsequent to Acquisition, Land & Improvements	16
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	566
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	4,002
Gross Amounts at which Carried at Close of period, Building & Building Improvements	48,534
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	52,536
Real Estate Accumulated Depreciation	$ (12,048)
Date of construction	2009
Date Acquired	Dec. 02, 2013
Prestige Senior Living Five Rivers Tillamook, Oregon
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	1,298
Initial Costs, Building and Building Improvements	14,064
Costs Capitalized Subsequent to Acquisition, Land & Improvements	18
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	571
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,316
Gross Amounts at which Carried at Close of period, Building & Building Improvements	14,635
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	15,951
Real Estate Accumulated Depreciation	$ (3,685)
Date of construction	2002
Date Acquired	Dec. 02, 2013
Prestige Senior Living Riverwood Tualatin, Oregon
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	1,028
Initial Costs, Building and Building Improvements	7,429
Costs Capitalized Subsequent to Acquisition, Land & Improvements	12
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	224
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,040
Gross Amounts at which Carried at Close of period, Building & Building Improvements	7,653
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	8,693
Real Estate Accumulated Depreciation	$ (1,920)
Date of construction	1999
Date Acquired	Dec. 02, 2013
Prestige Senior Living Auburn Meadows Auburn, Washington
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	2,537
Initial Costs, Building and Building Improvements	17,261
Costs Capitalized Subsequent to Acquisition, Land & Improvements	0
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	1,555
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	2,537
Gross Amounts at which Carried at Close of period, Building & Building Improvements	18,816
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	21,353
Real Estate Accumulated Depreciation	$ (4,387)
Date Acquired	Feb. 03, 2014
Prestige Senior Living Auburn Meadows Auburn, Washington | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Date of construction	2003
Prestige Senior Living Auburn Meadows Auburn, Washington | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Date of construction	2010
Prestige Senior Living Bridgewood Vancouver, Washington
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	1,603
Initial Costs, Building and Building Improvements	18,172
Costs Capitalized Subsequent to Acquisition, Land & Improvements	10
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	474
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,613
Gross Amounts at which Carried at Close of period, Building & Building Improvements	18,646
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	20,259
Real Estate Accumulated Depreciation	$ (4,344)
Date of construction	2001
Date Acquired	Feb. 03, 2014
Prestige Senior Living Monticello Park Longview, Washington
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	1,981
Initial Costs, Building and Building Improvements	23,056
Costs Capitalized Subsequent to Acquisition, Land & Improvements	1
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	73
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,982
Gross Amounts at which Carried at Close of period, Building & Building Improvements	23,129
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	25,111
Real Estate Accumulated Depreciation	$ (5,516)
Date Acquired	Feb. 03, 2014
Prestige Senior Living Monticello Park Longview, Washington | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Date of construction	2001
Prestige Senior Living Monticello Park Longview, Washington | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Date of construction	2010
Prestige Senior Living Rosemont Yelm, Washington
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	668
Initial Costs, Building and Building Improvements	14,564
Costs Capitalized Subsequent to Acquisition, Land & Improvements	14
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	165
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	682
Gross Amounts at which Carried at Close of period, Building & Building Improvements	14,729
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	15,411
Real Estate Accumulated Depreciation	$ (3,461)
Date of construction	2004
Date Acquired	Feb. 03, 2014
Wellmore of Tega Cay Tega Cay, South Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	2,445
Initial Costs, Building and Building Improvements	0
Costs Capitalized Subsequent to Acquisition, Land & Improvements	2,755
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	23,457
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	5,200
Gross Amounts at which Carried at Close of period, Building & Building Improvements	23,457
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	28,657
Real Estate Accumulated Depreciation	$ (5,883)
Date of construction	2015
Date Acquired	Feb. 07, 2014
Isle at Cedar Ridge Cedar Park, Texas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	1,525
Initial Costs, Building and Building Improvements	16,277
Costs Capitalized Subsequent to Acquisition, Land & Improvements	0
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	670
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,525
Gross Amounts at which Carried at Close of period, Building & Building Improvements	16,947
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	18,472
Real Estate Accumulated Depreciation	$ (4,157)
Date of construction	2011
Date Acquired	Feb. 28, 2014
Prestige Senior Living West Hills Corvallis, Oregon
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	842
Initial Costs, Building and Building Improvements	12,603
Costs Capitalized Subsequent to Acquisition, Land & Improvements	11
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	419
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	853
Gross Amounts at which Carried at Close of period, Building & Building Improvements	13,022
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	13,875
Real Estate Accumulated Depreciation	$ (3,142)
Date of construction	2002
Date Acquired	Mar. 03, 2014
HarborChase of Plainfield Plainfield, Illinois
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	1,596
Initial Costs, Building and Building Improvements	21,832
Costs Capitalized Subsequent to Acquisition, Land & Improvements	123
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	351
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,719
Gross Amounts at which Carried at Close of period, Building & Building Improvements	22,183
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	23,902
Real Estate Accumulated Depreciation	$ (5,219)
Date of construction	2010
Date Acquired	Mar. 28, 2014
Legacy Ranch Alzheimer's Special Care Center Midland, Texas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	917
Initial Costs, Building and Building Improvements	9,982
Costs Capitalized Subsequent to Acquisition, Land & Improvements	34
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	212
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	951
Gross Amounts at which Carried at Close of period, Building & Building Improvements	10,194
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	11,145
Real Estate Accumulated Depreciation	$ (2,427)
Date of construction	2012
Date Acquired	Mar. 28, 2014
The Springs Alzheimer's Special Care Center San Angelo, Texas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	595
Initial Costs, Building and Building Improvements	9,658
Costs Capitalized Subsequent to Acquisition, Land & Improvements	9
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	206
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	604
Gross Amounts at which Carried at Close of period, Building & Building Improvements	9,864
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	10,468
Real Estate Accumulated Depreciation	$ (2,369)
Date of construction	2012
Date Acquired	Mar. 28, 2014
Isle at Watercrest - Bryan Bryan, Texas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	3,223
Initial Costs, Building and Building Improvements	40,581
Costs Capitalized Subsequent to Acquisition, Land & Improvements	45
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	2,575
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	3,268
Gross Amounts at which Carried at Close of period, Building & Building Improvements	43,156
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	46,424
Real Estate Accumulated Depreciation	$ (10,379)
Date of construction	2011
Date Acquired	Apr. 21, 2014
Isle at Watercrest - Mansfield Mansfield, Texas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	997
Initial Costs, Building and Building Improvements	24,635
Costs Capitalized Subsequent to Acquisition, Land & Improvements	0
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	363
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	997
Gross Amounts at which Carried at Close of period, Building & Building Improvements	24,998
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	25,995
Real Estate Accumulated Depreciation	$ (5,715)
Date of construction	2011
Date Acquired	May 05, 2014
Watercrest at Katy Katy, Texas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 21,228
Initial Costs, Land & Land Improvements	4,000
Initial Costs, Building and Building Improvements	0
Costs Capitalized Subsequent to Acquisition, Land & Improvements	127
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	33,996
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	4,127
Gross Amounts at which Carried at Close of period, Building & Building Improvements	33,996
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	38,123
Real Estate Accumulated Depreciation	$ (5,559)
Date of construction	2016
Date Acquired	Jun. 27, 2014
Watercrest at Mansfield Mansfield, Texas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 22,854
Initial Costs, Land & Land Improvements	2,191
Initial Costs, Building and Building Improvements	42,740
Costs Capitalized Subsequent to Acquisition, Land & Improvements	24
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	990
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	2,215
Gross Amounts at which Carried at Close of period, Building & Building Improvements	43,730
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	45,945
Real Estate Accumulated Depreciation	$ (10,001)
Date of construction	2010
Date Acquired	Jun. 30, 2014
HarborChase of Shorewood Shorewood, Wisconsin
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	2,200
Initial Costs, Building and Building Improvements	0
Costs Capitalized Subsequent to Acquisition, Land & Improvements	304
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	19,868
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	2,504
Gross Amounts at which Carried at Close of period, Building & Building Improvements	19,868
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	22,372
Real Estate Accumulated Depreciation	$ (3,748)
Date of construction	2015
Date Acquired	Jul. 08, 2014
Fairfield Village of Layton Layton, Utah
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	5,217
Initial Costs, Building and Building Improvements	54,167
Costs Capitalized Subsequent to Acquisition, Land & Improvements	344
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	648
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	5,561
Gross Amounts at which Carried at Close of period, Building & Building Improvements	54,815
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	60,376
Real Estate Accumulated Depreciation	$ (12,535)
Date of construction	2010
Date Acquired	Nov. 20, 2014
Primrose Retirement Center of Anderson Anderson, Indiana
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	1,342
Initial Costs, Building and Building Improvements	19,083
Costs Capitalized Subsequent to Acquisition, Land & Improvements	0
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	33
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,342
Gross Amounts at which Carried at Close of period, Building & Building Improvements	19,116
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	20,458
Real Estate Accumulated Depreciation	$ (4,094)
Date of construction	2008
Date Acquired	May 29, 2015
Primrose Retirement Center of Lancaster Lancaster, Ohio
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	2,840
Initial Costs, Building and Building Improvements	21,884
Costs Capitalized Subsequent to Acquisition, Land & Improvements	51
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	345
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	2,891
Gross Amounts at which Carried at Close of period, Building & Building Improvements	22,229
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	25,120
Real Estate Accumulated Depreciation	$ (5,179)
Date of construction	2007
Date Acquired	May 29, 2015
Primrose Retirement Center of Wausau Wausau, Wisconsin
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	1,089
Initial Costs, Building and Building Improvements	18,653
Costs Capitalized Subsequent to Acquisition, Land & Improvements	3
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	15
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,092
Gross Amounts at which Carried at Close of period, Building & Building Improvements	18,668
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	19,760
Real Estate Accumulated Depreciation	$ (3,837)
Date of construction	2008
Date Acquired	May 29, 2015
Superior Residences of Panama City Panama City Beach, Florida
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	2,099
Initial Costs, Building and Building Improvements	19,367
Costs Capitalized Subsequent to Acquisition, Land & Improvements	14
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	116
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	2,113
Gross Amounts at which Carried at Close of period, Building & Building Improvements	19,483
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	21,596
Real Estate Accumulated Depreciation	$ (4,107)
Date of construction	2015
Date Acquired	Jul. 15, 2015
The Hampton at Meadows Place Fort Bend, Texas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	715
Initial Costs, Building and Building Improvements	24,281
Costs Capitalized Subsequent to Acquisition, Land & Improvements	11
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	383
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	726
Gross Amounts at which Carried at Close of period, Building & Building Improvements	24,664
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	25,390
Real Estate Accumulated Depreciation	$ (4,790)
Date of construction	2007
Date Acquired	Jul. 31, 2015
The Hampton at Meadows Place Fort Bend, Texas | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Date of construction	2013
The Hampton at Meadows Place Fort Bend, Texas | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Date of construction	2014
The Pavilion at Great Hills Austin, Texas
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	1,783
Initial Costs, Building and Building Improvements	29,318
Costs Capitalized Subsequent to Acquisition, Land & Improvements	53
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	284
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,836
Gross Amounts at which Carried at Close of period, Building & Building Improvements	29,602
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	31,438
Real Estate Accumulated Depreciation	$ (5,809)
Date of construction	2010
Date Acquired	Jul. 31, 2015
The Beacon at Gulf Breeze Gulf Breeze, Florida
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	824
Initial Costs, Building and Building Improvements	24,106
Costs Capitalized Subsequent to Acquisition, Land & Improvements	89
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	381
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	913
Gross Amounts at which Carried at Close of period, Building & Building Improvements	24,487
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	25,400
Real Estate Accumulated Depreciation	$ (4,943)
Date of construction	2008
Date Acquired	Jul. 31, 2015
Parc at Piedmont Marietta, Georgia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	3,529
Initial Costs, Building and Building Improvements	43,080
Costs Capitalized Subsequent to Acquisition, Land & Improvements	36
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	1,582
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	3,565
Gross Amounts at which Carried at Close of period, Building & Building Improvements	44,662
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	48,227
Real Estate Accumulated Depreciation	$ (8,866)
Date Acquired	Jul. 31, 2015
Parc at Piedmont Marietta, Georgia | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Date of construction	2001
Parc at Piedmont Marietta, Georgia | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Date of construction	2011
Parc at Duluth Duluth, Georgia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	5,951
Initial Costs, Building and Building Improvements	42,458
Costs Capitalized Subsequent to Acquisition, Land & Improvements	70
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	2,726
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	6,021
Gross Amounts at which Carried at Close of period, Building & Building Improvements	45,184
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	51,205
Real Estate Accumulated Depreciation	$ (8,755)
Date Acquired	Jul. 31, 2015
Parc at Duluth Duluth, Georgia | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Date of construction	2003
Parc at Duluth Duluth, Georgia | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Date of construction	2012
Waterstone on Augusta Greenville, South Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	2,253
Initial Costs, Building and Building Improvements	0
Costs Capitalized Subsequent to Acquisition, Land & Improvements	2,116
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	20,882
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	4,369
Gross Amounts at which Carried at Close of period, Building & Building Improvements	20,882
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	25,251
Real Estate Accumulated Depreciation	$ (3,876)
Date of construction	2017
Date Acquired	Aug. 31, 2015
Wellmore of Lexington Lexington, South Carolina
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	2,300
Initial Costs, Building and Building Improvements	0
Costs Capitalized Subsequent to Acquisition, Land & Improvements	3,204
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	43,101
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	5,504
Gross Amounts at which Carried at Close of period, Building & Building Improvements	43,101
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	48,605
Real Estate Accumulated Depreciation	$ (7,239)
Date of construction	2017
Date Acquired	Sep. 14, 2015
Palmilla Senior Living Albuquerque, New Mexico
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	4,701
Initial Costs, Building and Building Improvements	38,321
Costs Capitalized Subsequent to Acquisition, Land & Improvements	33
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	225
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	4,734
Gross Amounts at which Carried at Close of period, Building & Building Improvements	38,546
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	43,280
Real Estate Accumulated Depreciation	$ (7,650)
Date of construction	2013
Date Acquired	Sep. 30, 2015
Cedar Lake Assisted Living and Memory Care Lake Zurich, Illinois
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	2,412
Initial Costs, Building and Building Improvements	25,126
Costs Capitalized Subsequent to Acquisition, Land & Improvements	38
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	105
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	2,450
Gross Amounts at which Carried at Close of period, Building & Building Improvements	25,231
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	27,681
Real Estate Accumulated Depreciation	$ (5,001)
Date of construction	2014
Date Acquired	Sep. 30, 2015
The Shores of Lake Phalen Maplewood, Minnesota
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	2,724
Initial Costs, Building and Building Improvements	25,093
Costs Capitalized Subsequent to Acquisition, Land & Improvements	10
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	108
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	2,734
Gross Amounts at which Carried at Close of period, Building & Building Improvements	25,201
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	27,935
Real Estate Accumulated Depreciation	$ (4,907)
Date of construction	2012
Date Acquired	Nov. 10, 2015
Dogwood Forrest of Grayson Grayson, Georgia
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	1,788
Initial Costs, Building and Building Improvements	0
Costs Capitalized Subsequent to Acquisition, Land & Improvements	112
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	22,084
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,900
Gross Amounts at which Carried at Close of period, Building & Building Improvements	22,084
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	23,984
Real Estate Accumulated Depreciation	$ (3,182)
Date of construction	2017
Date Acquired	Nov. 24, 2015
Park Place Senior Living at WingHaven O'Fallon, Missouri
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	1,283
Initial Costs, Building and Building Improvements	48,221
Costs Capitalized Subsequent to Acquisition, Land & Improvements	151
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	1,093
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,434
Gross Amounts at which Carried at Close of period, Building & Building Improvements	49,314
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	50,748
Real Estate Accumulated Depreciation	$ (9,248)
Date Acquired	Dec. 17, 2015
Park Place Senior Living at WingHaven O'Fallon, Missouri | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Date of construction	2006
Park Place Senior Living at WingHaven O'Fallon, Missouri | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Date of construction	2014
Hearthside Senior Living of Collierville Collierville, Tennessee
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	1,756
Initial Costs, Building and Building Improvements	13,379
Costs Capitalized Subsequent to Acquisition, Land & Improvements	57
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	39
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,813
Gross Amounts at which Carried at Close of period, Building & Building Improvements	13,418
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	15,231
Real Estate Accumulated Depreciation	$ (2,631)
Date of construction	2014
Date Acquired	Dec. 29, 2015
Albuquerque, New Mexico - Unimproved Land Albuquerque, New Mexico
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Costs, Land & Land Improvements	1,056
Initial Costs, Building and Building Improvements	0
Costs Capitalized Subsequent to Acquisition, Land & Improvements	0
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	0
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,056
Gross Amounts at which Carried at Close of period, Building & Building Improvements	0
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	1,056
Real Estate Accumulated Depreciation	$ 0
Date Acquired	Sep. 07, 2017
Finton Assistted Living Vinton, Iowa
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 2,679
Initial Costs, Land & Land Improvements	1,083
Initial Costs, Building and Building Improvements	3,439
Costs Capitalized Subsequent to Acquisition, Land & Improvements	0
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	0
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,083
Gross Amounts at which Carried at Close of period, Building & Building Improvements	3,439
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	4,522
Real Estate Accumulated Depreciation	$ (117)
Date of construction	2007
Date Acquired	Aug. 31, 2012
Webster City Assisted Living Webster City, Iowa
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 2,435
Initial Costs, Land & Land Improvements	912
Initial Costs, Building and Building Improvements	3,794
Costs Capitalized Subsequent to Acquisition, Land & Improvements	0
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	1
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	912
Gross Amounts at which Carried at Close of period, Building & Building Improvements	3,795
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	4,707
Real Estate Accumulated Depreciation	$ (123)
Date of construction	2007
Date Acquired	Aug. 31, 2012
Nevada Assisted Living Nevada, Iowa
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 5,439
Initial Costs, Land & Land Improvements	1,749
Initial Costs, Building and Building Improvements	7,196
Costs Capitalized Subsequent to Acquisition, Land & Improvements	0
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	0
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,749
Gross Amounts at which Carried at Close of period, Building & Building Improvements	7,196
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	8,945
Real Estate Accumulated Depreciation	$ (240)
Date of construction	2011
Date Acquired	Aug. 31, 2012
Grinnell Assisted Living Grinnell, Iowa
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 5,196
Initial Costs, Land & Land Improvements	1,690
Initial Costs, Building and Building Improvements	4,454
Costs Capitalized Subsequent to Acquisition, Land & Improvements	13
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	5
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	1,703
Gross Amounts at which Carried at Close of period, Building & Building Improvements	4,459
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	6,162
Real Estate Accumulated Depreciation	$ (167)
Date of construction	2005
Date Acquired	Apr. 02, 2013
Indianola Assisted Living Indianola, Iowa
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 2,110
Initial Costs, Land & Land Improvements	986
Initial Costs, Building and Building Improvements	3,369
Costs Capitalized Subsequent to Acquisition, Land & Improvements	6
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	1
Costs Capitalized Subsequent to Acquisition, Construction in Process	0
Gross Amounts at which Carried at Close of period, Land & Land Improvements	992
Gross Amounts at which Carried at Close of period, Building & Building Improvements	3,370
Gross Amounts at which Carried at Close of period, Construction in Process	0
Total	4,362
Real Estate Accumulated Depreciation	$ (114)
Date of construction	2004
Date Acquired	Apr. 02, 2013

SCHEDULE III - Real Estate An_3

SCHEDULE III - Real Estate And Accumulated Depreciation Transactions in Real Estate and Accumulated Depreciation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Investment in real estate, beginning balance	$ 1,630,482	$ 1,640,534	$ 1,712,827
Acquisitions	28,672
Improvements	11,339	6,385	3,020
Dispositions	(38,525)	(6,764)	(75,313)
Impairments		(9,673)
Investment in real estate, ending balance	1,631,968	1,630,482	1,640,534
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Accumulated depreciation, beginning balance	(303,767)	(262,394)	(226,529)
Depreciation	(43,781)	(42,215)	(42,430)
Accumulated depreciation on dispositions	9,198	842	6,565
Accumulated Depreciation, ending balance	$ (338,350)	$ (303,767)	$ (262,394)

SCHEDULE III - Real Estate An_4

SCHEDULE III - Real Estate And Accumulated Depreciation - Footnotes (Detail) $ in Billions	12 Months Ended
	Dec. 31, 2022 USD ($)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Aggregate cost for federal income tax purpose	$ 1.8
Building
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Buildings and improvements useful life	39 years
Building Improvements
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Buildings and improvements useful life	15 years