CNL Healthcare Properties (CHTH) 10-K 16 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2015	Mar. 03, 2016	Jun. 30, 2015
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Entity Registrant Name	CNL Healthcare Properties, Inc.
Entity Central Index Key	1,496,454
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		174,430,100
Entity Public Float			$ 1.6

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Real estate assets:
Real estate investment properties, net (including VIEs $219,971 and $174,449, respectively)	$ 2,470,176	$ 1,657,500
Real estate under development, including land (including VIEs $58,994 and $47,153 respectively)	62,521	47,153
Total real estate assets, net	2,532,697	1,704,653
Intangibles, net (including VIEs $23,540 and $25,519 respectively)	172,452	140,264
Cash (including VIEs $4,427 and $6,280 respectively)	68,922	91,355
Deferred rent and lease incentives (including VIEs $6,942 and $2,978 respectively)	23,477	8,240
Other assets (including VIEs $1,506 and $511 respectively)	21,302	19,738
Loan costs, net (including VIEs $2,625 and $2,300 respectively)	14,358	14,012
Restricted cash (including VIEs $1,461 and $5,304 respectively)	10,287	10,753
Total assets	2,843,495	1,989,015
Liabilities:
Mortgages and other notes payable, net (including VIEs $153,735 and $137,754 respectively)	840,435	853,561
Credit facilities	660,000	206,403
Other liabilities (including VIEs $3,644 and $4,949 respectively)	41,938	27,448
Accounts payable and accrued liabilities (including VIEs $11,650 and $10,268 respectively)	40,217	26,444
Due to related parties (including VIEs $136 and $219 respectively)	1,803	2,999
Total liabilities	$ 1,584,393	$ 1,116,855
Commitments and contingencies (Note 15)
Redeemable noncontrolling interest	$ 551	$ 568
Stockholders' equity:
Preferred stock, $0.01 par value per share, 200,000 shares authorized; none issued or outstanding
Excess shares, $0.01 par value per share, 300,000 shares authorized; none issued or outstanding
Common stock, $0.01 par value per share, 1,120,000 shares authorized, 175,824 and 116,672 shares issued, and 174,430 and 116,256 shares outstanding, respectively	$ 1,744	$ 1,163
Capital in excess of par value	1,528,781	1,007,326
Accumulated loss	(151,146)	(83,091)
Accumulated distributions	(112,543)	(49,342)
Accumulated other comprehensive loss	(9,747)	(4,864)
Total stockholders' equity	1,257,089	871,192
Noncontrolling interest	1,462	400
Total equity	1,259,102	872,160
Total liabilities and equity	$ 2,843,495	$ 1,989,015

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Real estate investment properties, net	$ 2,470,176	$ 1,657,500
Real estate under development, including land	62,521	47,153
Intangibles, net	172,452	140,264
Cash	68,922	91,355
Deferred rent and lease incentives	23,477	8,240
Other assets	21,302	19,738
Loan costs, net	14,358	14,012
Restricted cash	10,287	10,753
Mortgages and other notes payable, net (including VIEs $153,735 and $137,754 respectively)	840,435	853,561
Other liabilities	41,938	27,448
Accounts payable and accrued liabilities	40,217	26,444
Due to related parties	$ 1,803	$ 2,999
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	200,000,000	200,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Excess shares, par value	$ 0.01	$ 0.01
Excess shares, shares authorized	300,000,000	300,000,000
Excess shares, shares issued	0	0
Excess shares, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,120,000,000	1,120,000,000
Common stock, shares issued	175,824,000	116,672,000
Common stock, shares outstanding	174,430,000	116,256,000
VIEs
Real estate investment properties, net	$ 219,971	$ 174,449
Real estate under development, including land	58,994	47,153
Intangibles, net	23,540	25,519
Cash	4,427	6,280
Deferred rent and lease incentives	6,942	2,978
Other assets	1,506	511
Loan costs, net	2,625	2,300
Restricted cash	1,461	5,304
Mortgages and other notes payable, net (including VIEs $153,735 and $137,754 respectively)	153,735	137,754
Other liabilities	3,644	4,949
Accounts payable and accrued liabilities	11,650	10,268
Due to related parties	$ 136	$ 219

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015		Dec. 31, 2014		Dec. 31, 2013
Revenues:
Rental income from operating leases	$ 101,125		$ 49,305		$ 23,297
Resident fees and services	183,407		123,777		27,550
Tenant reimbursement income	15,993		7,504		1,640
Interest income on note receivable from related party			498		118
Total revenues	300,525		181,084		52,605
Operating expenses:
Property operating expenses	149,688		93,549		20,940
General and administrative	10,088		6,877		5,618
Acquisition fees and expenses	21,526		23,931		18,840
Asset management fees	17,892		8,481		3,614
Property management fees	14,759		8,942		2,642
Contingent purchase price consideration adjustment	(589)		(630)		(1,824)
Impairment provision	4,661
Loss on lease terminations	863
Depreciation and amortization	105,945		63,112		16,765
Total operating expenses	324,833		204,262		66,595
Operating loss	(24,308)		(23,178)		(13,990)
Other income (expense):
Interest and other income	158		104		74
Interest expense and loan cost amortization	(42,969)		(30,487)		(10,799)
Equity in earnings (loss) of unconsolidated entities	(596)		(1,387)		2,147
Gain on sale of investment in unconsolidated entity					4,486
Gain on purchase of controlling interest of investment in unconsolidated entity			2,798
Total other expense	(43,407)		(28,972)		(4,092)
Loss before income taxes	(67,715)		(52,150)		(18,082)
Income tax expense	(378)		(361)		(18)
Net loss	(68,093)		(52,511)		(18,100)
Less: Net loss attributable to noncontrolling interest	(38)
Net loss attributable to common stockholders	$ (68,055)		$ (52,511)		$ (18,100)
Net loss per share of common stock (basic and diluted)	$ (0.44)		$ (0.61)		$ (0.42)
Weighted average number of shares of common stock outstanding (basic and diluted)	153,804	[1]	85,710	[1]	43,450
[1]	For the purposes of determining the weighted average number of shares of common stock outstanding, stock distributions issued are treated as if they were outstanding for all periods presented.

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement Of Income And Comprehensive Income [Abstract]
Net loss attributable to common stockholders	$ (68,055)	$ (52,511)	$ (18,100)
Other comprehensive income (loss):
Unrealized loss on derivative financial instruments, net	(5,143)	(3,915)	(1,042)
Reclassification of cash flow hedges upon derecognition	236
Reclassification of cash flow hedges due to ineffectiveness	33
Unrealized income (loss) on derivative financial instruments of equity method investments	(9)	10	83
Total other comprehensive loss	(4,883)	(3,905)	(959)
Comprehensive loss	(72,938)	(56,416)	(19,059)
Comprehensive loss attributable to common stockholders	$ (72,938)	$ (56,416)	$ (19,059)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND REDEEMABLE NONCONTROLLING INTEREST - USD ($) shares in Thousands, $ in Thousands	Total	Redeemable Noncontrolling Interests	Common Stock	Capital in Excess of Par Value	Accumulated Loss	Accumulated Distributions	Accumulated Other Comprehensive Loss	Total Stockholders' Equity	Non- controlling Interest
Beginning Balance at Dec. 31, 2012	$ 140,651		$ 184	$ 156,200	$ (12,480)	$ (3,253)		$ 140,651
Beginning Balance (in shares) at Dec. 31, 2012			18,446
Subscriptions received for common stock through public offering and reinvestment plan (in shares)			38,798
Subscriptions received for common stock through public offering and reinvestment plan			$ 388	386,975				387,363
Stock distributions			$ 11	(11)
Stock distributions, shares	1,100		1,063
Redemptions of common stock	$ (827)		$ (1)	(826)				(827)
Redemption of common stock, shares			(89)
Stock issuance and offering costs	(41,977)			(41,977)				(41,977)
Net loss	(18,100)				(18,100)			(18,100)
Other comprehensive loss	(959)						$ (959)	(959)
Cash distributions declared and paid or reinvested ($0.39996 per share in 2013, $0.4071 per share in 2014 and $0.4236 per share in 2015)	(14,170)					(14,170)		(14,170)
Ending Balance at Dec. 31, 2013	451,981		$ 582	500,361	(30,580)	(17,423)	(959)	451,981
Ending Balance (in shares) at Dec. 31, 2013			58,218
Subscriptions received for common stock through public offering and reinvestment plan (in shares)			56,006
Subscriptions received for common stock through public offering and reinvestment plan	$ 572,324		$ 560	571,764				572,324
Stock distributions			$ 24	(24)
Stock distributions, shares	2,400		2,356
Redemptions of common stock	$ (2,996)		$ (3)	(2,993)				(2,996)
Redemption of common stock, shares			(324)
Stock issuance and offering costs	(59,782)			(59,782)				(59,782)
Net loss	(52,511)				(52,511)			(52,511)
Other comprehensive loss	(3,905)						(3,905)	(3,905)
Distribution to holder of promoted interest	(2,000)			(2,000)				(2,000)
Cash distributions declared and paid or reinvested ($0.39996 per share in 2013, $0.4071 per share in 2014 and $0.4236 per share in 2015)	(31,919)					(31,919)		(31,919)
Ending Balance at Dec. 31, 2014	$ 872,160	$ 568	$ 1,163	1,007,326	(83,091)	(49,342)	(4,864)	871,192	$ 400
Ending Balance (in shares) at Dec. 31, 2014	116,256		116,256
Contribution from noncontrolling interests	$ 968	568							400
Subscriptions received for common stock through public offering and reinvestment plan (in shares)			55,956
Subscriptions received for common stock through public offering and reinvestment plan	$ 588,704		$ 561	588,143				588,704
Stock distributions			$ 32	(32)
Stock distributions, shares	3,200		3,196
Redemptions of common stock	$ (9,309)		$ (12)	(9,297)				(9,309)
Redemption of common stock, shares			(978)
Stock issuance and offering costs	(57,359)			(57,359)				(57,359)
Net loss	(68,093)	(17)			(68,055)			(68,055)	(21)
Other comprehensive loss	(4,883)						(4,883)	(4,883)
Distribution to holder of noncontrolling interest	(23)								(23)
Cash distributions declared and paid or reinvested ($0.39996 per share in 2013, $0.4071 per share in 2014 and $0.4236 per share in 2015)	(63,201)					(63,201)		(63,201)
Ending Balance at Dec. 31, 2015	$ 1,259,102	$ 551	$ 1,744	$ 1,528,781	$ (151,146)	$ (112,543)	$ (9,747)	$ 1,257,089	1,462
Ending Balance (in shares) at Dec. 31, 2015	174,430		174,430
Contribution from noncontrolling interests	$ 1,106								$ 1,106

CONSOLIDATED STATEMENTS OF STO7

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND REDEEMABLE NONCONTROLLING INTEREST (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement Of Stockholders Equity [Abstract]
Cash distributions, declared and paid per share	$ 0.4236	$ 0.4071	$ 0.39996

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating Activities:
Net loss	$ (68,093)	$ (52,511)	$ (18,100)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities
Depreciation and amortization	105,945	63,112	16,765
Amortization of loan costs	3,762	2,921	1,433
Accretion of note origination costs		60	80
Amortization of above and below market intangibles	915	345	68
Straight-line rent adjustments	(4,309)	(2,472)	(2,023)
Unrealized loss from mark-to-market adjustments on swaps	33
Deferred tax assets, net			31
Loss on extinguishment of debt	986		244
Contingent purchase price consideration adjustment	(589)	(630)	(1,824)
Equity in earnings of unconsolidated entities, net of distributions	1,486	2,931	1,620
Impairment provision	4,661
Loss on lease terminations	863
Bad debt expense	1,170
Gain on sale of unconsolidated entity			(4,486)
Gain on purchase of controlling interest in unconsolidated entity		(2,798)
Changes in operating assets and liabilities:
Other assets	1,406	(1,791)	(740)
Deferred rent and lease incentives	(13,156)	(1,016)
Due from related parties		(155)	(25)
Accounts payable and accrued liabilities	6,423	7,235	5,450
Other liabilities	1,586	5,038	2,907
Due to related parties	428	(997)	1,646
Net cash flows provided by operating activities	43,517	19,272	3,046
Investing activities:
Acquisition of properties	(866,340)	(869,458)	(655,924)
Development of properties	(73,552)	(47,150)	(23,246)
Issuance of note receivable to related party		(2,065)	(3,686)
Collection of note receivable from related party		5,591
Distribution from unconsolidated entities		2,206	222
Purchase of controlling interest in unconsolidated entity		(1,584)
Investment in unconsolidated entities		(220)	(12,912)
Proceeds from sale of unconsolidated entity			61,761
Changes in restricted cash	466	(7,914)	(2,229)
Capital expenditures	(8,029)	(4,021)	(347)
Payment of leasing costs	(2,806)	(543)	(12)
Deposits on real estate	(500)	(500)	(7,419)
Net cash used in investing activities	(950,761)	(925,658)	(643,792)
Net cash used in investing activities	(950,761)	(925,658)	(643,792)
Financing activities:
Subscriptions received for common stock through public offering	551,876	554,608	379,772
Payment of stock issuance and offering costs	(58,983)	(58,880)	(41,821)
Distributions to stockholders, net of distribution reinvestments	(26,373)	(14,203)	(6,579)
Redemptions of common stock	(7,441)	(2,246)	(706)
Contribution from redeemable noncontrolling interest		568
Contribution from noncontrolling interest	71	400
Distributions to holder of noncontrolling interest	(23)
Distribution to holder of promoted interest		(2,000)
Draws under revolving credit facilities	775,000	367,223	98,500
Repayments on revolving credit facilities	(321,403)	(259,320)
Proceeds from mortgage and other notes payable	95,570	402,438	362,392
Principal payments on mortgage and other notes payable	(115,818)	(27,012)	(117,436)
Lender deposits		(150)	(1,110)
Purchase of interest rate cap	(2,251)
Payment of loan costs	(5,414)	(7,894)	(6,319)
Net cash flows provided by financing activities	884,811	953,532	666,693
Net increase (decrease) in cash	(22,433)	47,146	25,947
Cash at beginning of period	91,355	44,209	18,262
Cash at end of period	68,922	91,355	44,209
Supplemental disclosure of cash flow information:
Cash paid during the period for interest, net of capitalized interest of approximately $2.0 million, $0.9 million and $0.5 million, respectively	37,621	26,724	8,720
Cash paid for income taxes	702	545	569
Amounts incurred but not paid (including amounts due to related parties):
Stock issuance and offering costs	32	1,656	752
Loan costs	136	310	241
Accrued development costs	11,251	7,951	7,047
Redemptions payable	2,739	872	121
Noncontrolling interests non-cash contributions	1,035
Contingent purchase price consideration	7,500	268	507
Loan cost amortization capitalized on development properties	382	73	$ 97
Assumption of liabilities on acquired property	6,905	1,000
Assumption of mortgage note payable on acquired property	$ 7,128	$ 27,657

Organization

Organization	12 Months Ended
	Dec. 31, 2015
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization	1. Organization CNL Healthcare Properties, Inc. (“Company”) is a Maryland corporation incorporated on June 8, 2010 that elected to be taxed as a REIT for U.S. federal income tax purposes beginning with the year ended December 31, 2012. The Company is externally advised by CNL Healthcare Corp. and its property manager is CNL Healthcare Manager Corp., each of which is a Florida corporation and a wholly owned subsidiary of CNL Financial Group, LLC, the Company’s sponsor. The Sponsor is an affiliate of CNL Financial Group, Inc. and CNL Securities Corp., the managing dealer of the Offerings and a wholly owned subsidiary of CNL. The Advisor is responsible for managing the Company’s affairs on a day-to-day basis and for identifying and making acquisitions and investments on behalf of the Company pursuant to an advisory agreement among the Company, the Operating Partnership and the Advisor. Substantially all of the Company’s acquisition, operating, administrative and certain property management services have been and continue to be provided by affiliates of the Advisor and the Property Manager. In addition, third-party sub-property managers have been engaged to provide certain property management services. The Company had no operations prior to the commencement of its Initial Offering on June 27, 2011. The net proceeds from the Company’s Offerings were contributed to the Operating Partnership in exchange for partnership interests. Substantially all of the Company’s assets are held by, and all operations are conducted, either directly or indirectly, through: (1) an operating partnership, CHP Partners, LP, 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 TRS, CHP TRS Holding, Inc.; (3) property owner subsidiaries and lender subsidiaries, which are single purpose entities; and (4) investments in joint ventures. The Company closed its Follow-On Offering on September 30, 2015 and discontinued its stock distributions concurrently. With the completion of the Offerings, the Company’s focus is on actively managing a diversified portfolio of healthcare real estate or real estate-related assets within the seniors housing, medical office, post-acute care and acute care asset classes. The types of seniors housing that the Company has acquired include independent and assisted living facilities, continuing care retirement communities, and Alzheimer’s / memory care facilities. The types of medical offices that the Company has acquired include MOBs, specialty medical and diagnostic service facilities, surgery centers, outpatient rehabilitation facilities, and other facilities designed for clinical services. The types of post-acute care facilities that the Company has acquired include skilled nursing facilities and inpatient rehabilitative hospitals. The types of acute care facilities that the Company has acquired include general acute care hospitals and specialty surgical hospitals. The Company views, manages and evaluates its portfolio homogeneously as one collection of healthcare assets with a common goal of maximizing revenues and property income regardless of the asset class or asset type. The Company has primarily leased its seniors housing properties to wholly owned TRS entities and engaged independent third-party managers under management agreements to operate the properties under RIDEA structures; however, the Company has also leased its properties to third-party tenants under triple-net or similar lease structures, where the tenant bears all or substantially all of the costs (including cost increases, for real estate taxes, utilities, insurance and ordinary repairs). Medical office, post-acute care and acute care properties have been leased on a triple-net, net or modified gross basis to third-party tenants. In addition, most of the Company’s investments have been wholly owned, although, it has invested through partnerships with other entities where it is believed to be appropriate and beneficial. The Company has and continues to invest in new property developments or properties that have not reached full stabilization.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. 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 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. 2. Summary of Significant Accounting Policies (continued) In accordance with the guidance for the consolidation of VIEs, the Company analyzes its variable interests, including loans, leases, guarantees, and equity investments, to determine if the entity in which it has a variable interest is a variable interest entity (“VIE”). The Company’s analysis includes both quantitative and qualitative reviews. The Company bases its quantitative analysis on the forecasted cash flows of the entity, and its qualitative analysis on its review of the design of the entity, its organizational structure including decision-making ability and financial agreements. The Company also uses its quantitative and qualitative analyses to determine if it is the primary beneficiary of the VIE, and if such determination is made, it includes the accounts of the VIE in its consolidated financial statements. 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 allocation of purchase price, the analysis of real estate impairments, the valuation of contingent assets and liabilities, and the valuation of restricted stock shares issued to the Advisor or Property Manager. Accordingly, actual results could differ from those estimates. Allocation of Purchase Price for Real Estate Acquisitions Upon acquisition of properties, the Company estimates the fair value of acquired tangible assets (consisting of land, building and improvements, tenant improvements and equipment), intangible assets (consisting of in-place leases and above- or below-market leases), liabilities assumed and any contingent assets or liabilities in order to allocate the purchase price. In estimating the fair value of the assets acquired and liabilities assumed, the Company considers information obtained about each property as a result of its due diligence and utilizes various valuation methods, such as estimated cash flow projections using appropriate discount and capitalization rates, estimates of replacement costs net of depreciation and available market information. The fair value of the tangible assets of an acquired leased property is determined by valuing the property as if it were vacant, and the “as-if-vacant” value is then allocated to land and building based on the relative fair values of these assets. The purchase price is allocated to in-place lease intangibles based on management’s evaluation of the specific characteristics of the acquired lease(s). Factors considered include estimates of carrying costs during hypothetical expected lease-up periods, including estimates of lost rental income during the expected lease-up periods, and costs to execute similar leases such as leasing commissions, legal and other related expenses. Above- and below-market lease intangibles are recorded based on the present value of the difference between the contractual rents to be paid pursuant to the lease and management’s estimate of the fair market lease rates for each in-place lease and may include assumptions for lease renewals of below-market leases. The Company also enters into contingent purchase price consideration arrangements in connection with acquisitions, which result in either an asset or liability being recognized as part of the purchase price allocation. In calculating the estimated fair value of contingent purchase price consideration arrangements, the Company considers information obtained during the due diligence and budget process as well as discount rates to determine the fair value. The Company evaluates the fair value of the arrangements at each reporting period and records any adjustments to the fair value as a component of operating income (expense) in the consolidated statement of operations. Refer to Note 9. “Contingent Purchase Price Consideration” for additional information on fair value measurements of contingent purchase price consideration arrangements. 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, or the remaining life of the ground lease. 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. 2. Summary of Significant Accounting Policies (continued) Impairment of Real Estate Assets — Real estate assets are reviewed on an ongoing basis to determine whether there are any indicators, including property operating performance and general market conditions, that the value of the real estate properties (including any related amortizable intangible assets or liabilities) may be impaired. 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 of the asset group. 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 fair value of the investment is less than the carrying amount and the decline in value is determined to be other than a temporary decline. Real Estate Under Development — The Company records real estate under development at cost, including acquisition fees and closing costs incurred. The cost of the real estate under development includes direct and indirect costs of development, including interest and miscellaneous costs incurred during the development period until the project is substantially complete and available for occupancy. In addition, during active development, all operating expenses related to the project, including property expenses such as real estate taxes and insurance, are capitalized rather than expensed and incidental revenue is recorded as a reduction of capitalized development costs. Preleasing costs are expensed as incurred. Capitalized Interest — Interest and loan cost amortization attributable to funds used to finance real estate under development is capitalized as additional costs of development. The Company capitalizes interest at the weighted average interest rate of the Company’s outstanding indebtedness and based on its weighted average expenditures for the period. Capitalization of interest on a specific project ceases when the project is substantially complete and ready for occupancy. During the years ended December 31, 2015, 2014 and 2013, the Company incurred interest expense and loan cost amortization of approximately $45.3 million, $31.5 million and $11.5 million, respectively, of which approximately $2.3 million, $1.0 million and $0.7 million, respectively, was capitalized according to this policy. 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 during the year. As of December 31, 2015, 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 restricted to fund capital expenditures for the Company’s real estate investment properties or represent certain tenant security deposits. 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, 2015 and 2014, the accumulated amortization of loan costs was approximately $7.8 million and $4.3 million, respectively. Leasing Costs — The Company defers costs that it incurs to obtain new tenant leases or extend existing tenant leases and classifies these costs as other assets, net of accumulated amortization. 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 the unamortized deferred lease costs not deemed to be recoverable. 2. Summary of Significant Accounting Policies (continued) Investments in Unconsolidated Entities — The Company accounts for its investments in unconsolidated joint ventures under the equity method of accounting as the Company exercises significant influence, but does not maintain a controlling financial interest over these entities. These investments are recorded initially at cost and subsequently adjusted for cash contributions, distributions and equity in earnings (loss) of the unconsolidated entities. Based on the respective venture structures and preferences the Company receives on distributions and liquidation, the Company records its equity in earnings of the unconsolidated entities under the HLBV method of accounting. Under this method, the Company recognizes income or loss in each period as if the net book value of the assets in the ventures were hypothetically liquidated at the end of each reporting period pursuant to the provisions of the joint venture agreements. In any given period, the Company could be recording more or less income than actual cash distributions received and more or less than what the Company may receive in the event of an actual liquidation. The Company’s investment in unconsolidated entities is accounted for as an asset acquisition in which acquisition fees and expenses are capitalized as part of the basis in the investment in unconsolidated entities. The acquisition fees and expenses create an outside basis difference that are allocated to the assets of the investee and, if assigned to depreciable or amortizable assets, the basis differences are then amortized as a component of equity in earnings (loss) of unconsolidated entities. Revenue Recognition — Rental income from operating leases is recorded on the straight-line basis over the terms of the leases. 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 that they are earned and are included in rental income from operating leases in the accompanying consolidated statement 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 consist of monthly services, which include rent, assistance and other related services. Agreements with residents are generally for an initial term of three months and are cancelable by the residents with 30-days notice. Tenant reimbursement income represents amounts tenants are required to reimburse the Company for expenses incurred on behalf of the tenants, in accordance with the terms of the leases and are recognized in the period in which the related reimbursable expenses are incurred. Interest income is recognized on an accrual basis when earned. Any deferred portion of contractual interest is recognized on a straight-line basis over the term of the corresponding note receivable. Loan origination fees incurred are recognized as a reduction to interest income over the term of the note receivable. Reclassifications — Certain amounts in the prior year’s consolidated balance sheet have been reclassified to conform to the current year’s presentation with no effect on the other previously reported consolidated financial statements. Derivative Financial Instruments — The Company and certain unconsolidated equity method investments held by the Company use 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 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. Any ineffective portions of cash flow hedges are reported in the accompanying consolidated statements of operations as derivative gain (loss). 2. Summary of Significant Accounting Policies (continued) Realized and unrealized gain (loss) on derivative financial instruments designated as cash flow hedges that are entered into by the Company’s equity method investments 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 and ineffective portions being included in equity in earnings (loss) of unconsolidated entities 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. 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. Redemptions — Under the Company’s stock redemption plan, a stockholder’s shares are deemed to have been redeemed as of the date that the Company accepts the stockholder’s request for redemption. From and after such date, the stockholder by virtue of such redemption is no longer entitled to any rights as a stockholder in the Company. Shares redeemed are retired and not available for reissue. Net Loss per Share — Net 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. For the purposes of determining the weighted average number of shares of common stock outstanding, stock distributions are treated as if they were issued and outstanding for the full periods presented. Therefore, the weighted average number of shares outstanding for the years ended December 31, 2015, 2014 and 2013 have been revised to include stock distributions declared and issued as if they were outstanding as of the beginning of each period presented. Shares Based Payments to Non-Employees — In connection with the Expense Support Agreements described in Note 11. “Related Party Arrangements,” the Company may issue Restricted Stock to the Advisor or the Property Manager on a quarterly basis in exchange for providing expense support in the event that cash distributions declared exceed modified funds from operations as defined by the Expense Support Agreements. Refer to Note 18. “Subsequent Events” for additional information. 2. Summary of Significant Accounting Policies (continued) The Restricted Stock is forfeited if shareholders 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 or the Property Manager 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 or the Property Manager 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 Agreements, the Advisor or the Property Manager 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 Articles) and receive all dividends and other distributions paid with respect to such shares. All dividends or other distributions actually paid to the Advisor or the Property Manager in connection with the Restricted Stock shall vest immediately and will not be subject to forfeiture. The Company recognizes expense related to the dividends 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 and by tenant or 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 classifies redeemable equity securities in accordance with Accounting Standard Update (“ASU”) No. 2009-04, “Liabilities (Topic 480): Accounting for Redeemable Equity Instruments,” which requires that equity securities redeemable at the option of the holder be classified outside of permanent stockholders’ equity. The Company classifies redeemable equity securities as redeemable noncontrolling interest within the accompanying consolidated balance sheets and consolidated statements of stockholders’ equity and redeemable noncontrolling interest. The Company evaluates the probability that these equity securities will become redeemable at each reporting period and, if determined probable, the Company measures the redemption value and records an adjustment to the carrying value of the equity securities as a component of redeemable noncontrolling interest. As of December 31, 2015, the amount payable, if any, relating to these equity securities is not probable and is dependent on the future results of operations from real estate currently under development. 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. As of December 31, 2015, the amounts payable, if any, relating to these promoted interests is not probable and is dependent on the future results of operations from either completed developments stabilizing or current real estate under development. 2. Summary of Significant Accounting Policies (continued) Acquisition Fees and Expenses — Acquisition fees, including investment services fees and expenses associated with transactions deemed to be business combinations (including investment transactions that are no longer under consideration), are expensed as incurred. Acquisition fees and expenses associated with making loans and with transactions deemed to be an asset purchase are capitalized. The following table summarizes the Company’s acquisition fees and expenses for the years ended December 31, 2015, 2014 and 2013 (in millions): December 31, Distribution Type 2015 2014 2013 Capitalized as real estate under development $ 4.2 $ 3.4 $ 0.1 Capitalized as investment in unconsolidated entities ― ― 0.5 Capitalized as origination costs to the note receivable ― ― 0.1 Acquisition costs expensed 21.5 23.9 18.8 Total acquisition costs incurred $ 25.7 $ 27.3 $ 19.5 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 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 quality 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 Internal Revenue Service 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 may also be subject to foreign taxes on investments outside of the U.S. based on the jurisdictions in which the Company conducts business. The Company has and will continue to form subsidiaries which may elect 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. Prior to the Company’s REIT election, it was subject to corporate federal and state income taxes. Prior to and including the year ended December 31, 2011, the Company did not have earnings. The tax years from 2011 to 2015 remain subject to examination by taxing authorities throughout the U.S. The Company analyzed its material tax positions and determined that it has not taken any uncertain tax positions. 2. Summary of Significant Accounting Policies (continued) Adopted Accounting Pronouncements — In April 2014, the FASB issued ASU No. 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” The ASU changes the criteria for reporting discontinued operations where only disposals representing a strategic shift that has (or will have) a major effect on an entity’s operations and financial results, such as a major line of business or geographical area, should be presented as a discontinued operation. The ASU is effective prospectively for all disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014 with early adoption permitted. Effective January 1, 2015, the Company adopted this ASU and determined that the amendments will impact the Company’s determinations of which future property disposals qualify as discontinued operations and will require additional disclosure about discontinued operations for future property disposals. Recent Accounting Pronouncements — In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers,” as a new ASC topic (Topic 606). The core principle of this ASU is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU further provides guidance for any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets, unless those contracts are within the scope of other standards (for example, lease contracts). The FASB subsequently issued ASU 2015-14 to defer the effective date of ASU 2014-09 until annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, with earlier adoption permitted. ASU 2014-09 can be adopted using one of two retrospective transition methods: 1) retrospectively to each prior reporting period presented or 2) as a cumulative-effect adjustment as of the date of adoption. The Company has not yet selected a transition method and is currently evaluating the impact of ASU 2014-09; however, its adoption could potentially have a significant effect on the Company’s consolidated financial position, results of operations or cash flows. In February 2015, the FASB issued ASU 2015-02, “Amendments to the Consolidation Analysis,” which requires amendments to both the variable interest entity and voting models. The amendments (i) modify the identification of variable interests (fees paid to a decision maker or service provider), the VIE characteristics for a limited partnership or similar entity and primary beneficiary determination under the VIE model, and (ii) eliminate the presumption within the current voting model that a general partner controls a limited partnership or similar entity. The new guidance is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2015 with early adoption permitted. The amendments may be applied using either a modified retrospective or full retrospective approach. The Company adopted ASU 2015-02 on January 1, 2016; the adoption of which did not have a material impact to its consolidated financial position, results of operations or cash flows. In April 2015, the FASB issued ASU 2015-03, “Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs,” which requires that loan costs related to a recognized debt liability

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Acquisitions	3. Acquisitions Real Estate Investment Properties — During the year ended December 31, 2015, the Company acquired the following 39 properties, which were comprised of 15 seniors housing communities, 22 MOBs, one post-acute care hospital, and one acute care hospital as follows: Name and Location Structure Date Acquired Purchase Price (in thousands) Acute care Triangle Orthopaedic North Carolina Specialty Hospital Modified Lease 6/29/2015 $ 31,830 Durham, NC Medical Office Novi Orthopaedic Center Modified Lease 2/13/2015 30,500 (1) Novi, MI Southeast Medical Office Properties UT Cancer Institute Building Modified Lease 2/20/2015 33,660 Knoxville, TN Bend Memorial Clinic MOB Modified Lease 5/11/2015 36,000 (1) Bend, OR Stoneterra Medical Plaza Modified Lease 5/29/2015 15,050 (1) San Antonio, TX Triangle Orthopaedic Triangle Orthopaedic Durham Modified Lease 6/29/2015 21,275 Durham, NC Triangle Orthopaedic Oxford Modified Lease 6/29/2015 4,728 Oxford, NC Triangle Orthopaedic Chapel Hill Modified Lease 6/29/2015 3,258 Chapel Hill, NC Triangle Orthopaedic Roxboro Modified Lease 6/29/2015 2,067 Roxboro, NC Doctor's Park Doctor's Park Building B Modified Lease 6/30/2015 5,000 (1) Chula Vista, CA ("San Diego") Doctor's Park Building C Modified Lease 6/30/2015 10,000 (1) Chula Vista, CA ("San Diego") 540 New Waverly Place Modified Lease 7/20/2015 15,000 (1) Cary, NC ("Raleigh") MedHelp Modified Lease 7/31/2015 15,000 (1) Birmingham, AL Maryland MOBs Patriot Professional Center Modified Lease 7/31/2015 16,950 (1) Frederick, MD ("Baltimore") Liberty Professional Center Modified Lease 7/31/2015 7,300 (1) Frederick, MD ("Baltimore") Columbia MOBs Broadway Medical Plaza 1 Modified Lease 8/21/2015 10,700 (1) Columbia, MO Broadway Medical Plaza 2 Modified Lease 8/21/2015 13,100 (1) Columbia, MO Broadway Medical Plaza 4 Modified Lease 8/21/2015 14,200 (1) Columbia, MO Center One Modified Lease 11/30/2015 34,362 (1) Jacksonville, FL Red Bank MOB Modified Lease 12/14/2015 10,610 (1) Cincinnati, OH 3. Acquisitions (continued) Name and Location Structure Date Acquired Purchase Price (in thousands) Henderson NV MOBs Siena Pavilion IV Modified Lease 12/18/2015 6,990 Henderson, NV ("Las Vegas") Siena Pavilion V Modified Lease 12/18/2015 27,859 Henderson, NV ("Las Vegas") Siena Pavilion VI Modified Lease 12/18/2015 19,474 Henderson, NV ("Las Vegas") Post-Acute Care Cobalt Rehabilitation Hospital Surprise Triple-net Lease 12/30/2015 23,660 (1) Surprise, AZ ("Phoenix") Seniors Housing Fieldstone Memory Care Managed 3/31/2015 12,400 (1) Yakima, WA Primrose III Communities Primrose Retirement Community of Anderson Triple-net Lease 5/29/2015 21,086 Anderson, IN ("Muncie") Primrose Retirement Community of Lancaster Triple-net Lease 5/29/2015 25,657 Lancaster, OH ("Columbus") Primrose Retirement Community of Wausau Triple-net Lease 5/29/2015 20,307 Wausau, WI ("Green Bay") Superior Residences of Panama City Managed 7/15/2015 20,000 (1) Panama City Beach, FL Southeast Seniors Housing Communities Parc at Duluth Triple-net Lease 7/31/2015 52,800 Duluth, GA ("Atlanta") Parc at Piedmont Triple-net Lease 7/31/2015 50,800 Marietta, GA ("Atlanta") The Pavilion at Great Hills Managed 7/31/2015 35,000 Austin, TX The Hampton at Meadows Place Managed 7/31/2015 28,400 Meadows Place, TX ("Houston") The Beacon at Gulf Breeze Managed 7/31/2015 28,000 Gulf Breeze, FL ("Pensacola") Palmilla Senior Living Managed 9/30/2015 47,600 Albuquerque, NM Cedar Lake Assisted Living and Memory Care Managed 9/30/2015 30,000 Lake Zurich, IL ("Chicago") The Shores of Lake Phalen Managed 11/10/2015 29,250 (1) Maplewood, MN ("St. Paul") Park Place Senior Living at WingHaven Managed 12/17/2015 54,000 O'Fallon, MO ("St. Louis") Hearthside Senior Living of Collierville Managed 12/29/2015 17,000 (1) Collierville, TN ("Memphis") $ 880,873 FOOTNOTE: (1) This represents a single property or portfolio acquisition that is not considered material to the Company and as such no pro forma financial information has been included related to this property. 3. Acquisitions (continued) During the year ended December 31, 2014, the Company acquired the following 35 properties, which were comprised of 15 MOBs, 14 seniors housing communities, three post-acute care facilities, and three acute care hospital as follows: Name and Location Structure Date Acquired Purchase Price (in thousands) Acute Care Memorial Hermann Orthopedic & Spine Hospital ("MHOSH") Triple-net Lease 6/2/2014 $ 49,000 Bellaire, TX ("Houston") Medical Portfolio II Properties Hurst Specialty Hospital Modified Lease 8/15/2014 29,465 Hurst, TX ("Dallas/Fort Worth") Beaumont Specialty Hospital Modified Lease 8/15/2014 33,600 Beaumont, TX ("Houston") Medical Office Chula Vista Medical Arts Center - Plaza I Modified Lease 1/21/2014 17,863 (1) Chula Vista, CA ("San Diego") MHOSH MOB Modified Lease 6/2/2014 27,000 Bellaire, TX ("Houston") Lee Hughes MOB Modified Lease 9/29/2014 29,870 (1) Glendale, CA ("Los Angeles") Northwest Medical Park Building Modified Lease 10/31/2014 10,804 (1) Margate, FL ("Fort Lauderdale") Newburyport Medical Center Modified Lease 10/31/2014 18,000 (1) Newburyport, MA ("Boston") ProMed Building I Modified Lease 12/19/2014 11,000 (1) Yuma, AZ Southeast Medical Office Properties Midtown Medical Plaza Modified Lease 12/22/2014 54,695 Charlotte, NC Presbyterian Medical Tower Modified Lease 12/22/2014 36,333 Charlotte, NC Metroview Professional Building Modified Lease 12/22/2014 17,262 Charlotte, NC Physicians Plaza Huntersville Modified Lease 12/22/2014 29,964 Huntersville, NC ("Charlotte") Matthews Medical Office Building Modified Lease 12/22/2014 21,227 Matthews, NC ("Charlotte") Outpatient Care Center Modified Lease 12/22/2014 15,450 Clyde, NC ("Asheville") 330 Physicians Center Modified Lease 12/22/2014 30,099 Rome, GA Spivey Station Physicians Center Modified Lease 12/22/2014 14,379 Atlanta, GA Spivey Station ASC Building Modified Lease 12/22/2014 18,591 Atlanta, GA 3. Acquisitions (continued) Name and Location Structure Date Acquired Purchase Price (in thousands) Post-Acute Care Medical Portfolio II Properties Oklahoma City Inpatient Rehabilitation Hospital Modified Lease 7/15/2014 $ 25,504 Oklahoma City, OK Las Vegas Inpatient Rehabilitation Hospital Modified Lease 7/15/2014 22,292 Las Vegas, NV South Bend Inpatient Rehabilitation Hospital Modified Lease 7/15/2014 20,240 Mishawaka, IN ("South Bend") Seniors Housing Pacific Northwest II Communities Prestige Senior Living Auburn Meadows Managed 2/3/2014 21,930 Auburn, WA ("Seattle") Prestige Senior Living Bridgewood Managed 2/3/2014 22,096 Vancouver, WA ("Portland") Prestige Senior Living Monticello Park Managed 2/3/2014 27,360 Longview, WA Prestige Senior Living Rosemont Managed 2/3/2014 16,877 Yelm, WA Prestige Senior Living West Hills Managed 3/3/2014 14,986 Corvallis, OR South Bay II Communities Isle at Cedar Ridge Managed 2/28/2014 21,630 Cedar Park, TX ("Austin") HarborChase of Plainfield Managed 3/28/2014 26,500 Plainfield, IL Legacy Ranch Alzheimer’s Special Care Center Managed 3/28/2014 11,960 Midland, TX The Springs Alzheimer’s Special Care Center Managed 3/28/2014 10,920 San Angelo, TX Isle at Watercrest – Bryan Managed 4/21/2014 22,050 Bryan, TX Watercrest at Bryan Managed 4/21/2014 28,035 Bryan, TX Isle at Watercrest – Mansfield Managed 5/5/2014 31,300 Mansfield, TX ("Dallas/Fort Worth") Watercrest at Mansfield Managed 6/30/2014 49,000 Mansfield, TX ("Dallas/Fort Worth") Fairfield Village of Layton Managed 11/20/2014 68,000 Layton, UT ("Salt Lake City") $ 905,282 FOOTNOTE: (1) This represents a single property or portfolio acquisition that is not considered material to the Company and as such no pro forma financial information has been included related to this property. 3. Acquisitions (continued) The following summarizes the purchase price allocation for the above properties, and the estimated fair values of the assets acquired and liabilities assumed (in thousands): December 31, 2015 2014 Land and land improvements $ 91,419 $ 60,565 Buildings and building improvements 702,611 732,740 Furniture, fixtures and equipment 11,746 12,260 Intangibles (1) 86,601 110,325 Other liabilities (5,175 ) (12,037 ) Liabilities assumed (6,905 ) (1,000 ) Assumed mortgage note payable (2) (6,976 ) (27,657 ) Net assets acquired 873,321 875,196 Contingent purchase price consideration (6,481 ) (12,395 ) Total purchase price consideration $ 866,840 $ 862,801 FOOTNOTES: (1) At the acquisition date, the weighted-average amortization period on the acquired lease intangibles for the years ended December 31, 2015 and 2014 were approximately 7.7 years for both periods, respectively. The acquired lease intangibles during the year ended December 31, 2015 were comprised of approximately $81.8 million and $4.8 million of in-place lease intangibles and other lease intangibles, respectively, and the acquired lease intangibles during the year ended December 31, 2014 were comprised of approximately $97.3 million and $13.0 million of in-place lease intangibles and other lease intangibles, respectively. (2) During the year ended December 31, 2015, the Company assumed a discount on a below-market mortgage note payable assumed of approximately $0.2 million at the acquisition date. During the year ended December 31, 2014, the Company assumed a premium on an above-market mortgage note payable of approximately $0.4 million at the acquisition date. The revenues and net loss (including deductions for acquisition fees and expenses and depreciation and amortization expense) attributable to the Company’s material acquisitions were approximately $18.0 million and $8.8 million, respectively, for the year ended December 31, 2015; and approximately $55.0 million and $24.3 million, respectively, for the year ended December 31, 2014. 3. Acquisitions (continued) The following table presents the unaudited pro forma results of operations for the Company as if each of the 2015 material acquisitions noted above were acquired as of January 1, 2014 and the unaudited pro forma results of operations for the Company as if each of the 2014 material acquisitions noted above were acquired as of January 1, 2013 (in thousands except per share data): Years ended December 31, 2015 (Unaudited) 2014 (Unaudited) 2013 (Unaudited) Revenues $ 346,071 $ 307,552 $ 242,415 Net loss (1) $ (66,613 ) $ (62,071 ) $ (59,527 ) Loss per share of common stock (basic and diluted) $ (0.39 ) $ (0.42 ) $ (0.57 ) Weighted average number of shares of common stock outstanding (basic and diluted) (2) 170,735 148,443 104,079 FOOTNOTES: (1) The unaudited pro forma results for the years ended December 31, 2015 and 2014 were adjusted to exclude approximately $11.3 million and $20.5 million, respectively, of acquisition related expenses directly attributable to the properties acquired during the years ended December 31, 2015 and 2014. The unaudited pro forma results for the years ended December 31, 2014 and 2013 were adjusted to include these charges as if the properties were acquired on January 1, 2014 and 2013, respectively. (2) As a result of the acquired properties being treated as operational since January 1, 2014 and 2013, the Company assumed approximately 31.6 million and 40.8 million additional shares were issued as of January 1, 2014 and 2013, respectively. Consequently, the weighted average number of shares outstanding was adjusted to reflect this amount of shares being issued as of January 1, 2014 and 2013, instead of actual dates on which the shares were issued, and such shares were treated as outstanding as of the beginning of the period presented. Real Estate Under Development — In August 2015, the Company acquired a tract of land in Greenville, South Carolina for $2.3 million (“Waterstone”). In connection with the acquisition, the Company entered into a development agreement with a third-party developer for the construction and development of an assisted living and memory care community with a maximum development budget of approximately $27.0 million, including the allocated purchase price of the land. The Company determined that Waterstone is a VIE because it believes there is insufficient equity at risk due to the development nature of the property. The Company is the primary beneficiary while the developer or its affiliates manage the development, construction and certain day-to-day operations of the property subject to the Company’s oversight. Under a promoted interest agreement with the developer, certain net operating income targets have been established which, upon meeting such targets, result in the developer being 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. In September 2015, the Company acquired a tract of land in Grand Junction, Colorado for $1.1 million (“Welbrook Senior Living Grand Junction”). In connection with the acquisition, the Company entered into a development agreement with a third-party developer for the construction and development of a transitional rehabilitation facility with a maximum development budget of approximately $13.1 million, including the allocated purchase price of the land. The Company determined that Welbrook Senior Living Grand Junction is not a VIE because the Company’s equity investment is sufficient to finance the activities of the entity without a construction loan and the Company will receive substantially all expected residual returns. In September 2015, the Company acquired a tract of land in Lexington, South Carolina for $2.3 million (“Wellmore of Lexington”), which is a suburb of Columbia, South Carolina. In connection with the acquisition, the Company entered into a development agreement with a third-party developer for the construction and development of a continuing care retirement facility with a maximum development budget of approximately $53.9 million, including the allocated purchase price of the land. The Company determined that Wellmore of Lexington is a VIE because it believes there is insufficient equity at risk due to the development nature of the property. The Company is the primary beneficiary while the developer or its affiliates manage the development, construction and certain day-to-day operations of the property subject to the Company’s oversight. Under a promoted interest agreement with the developer, certain net operating income targets have been established which, upon meeting such targets, result in the developer being 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. 3. Acquisitions (continued) In October 2015, the Company entered into a joint venture agreement with a third-party and acquired a 75% membership interest a tract of land in Yakima, Washington for $1.0 million (“Fieldstone at Pear Orchard”). The joint venture plans to construct and develop an independent and assisted living facility with a maximum development budget of approximately $15.3 million, including the allocated purchase price of the land. The Company determined that Fieldstone at Pear Orchard is a VIE because it believes there is insufficient equity at risk due to the development nature of the joint venture. The Company is the primary beneficiary and managing member while the joint venture partner or its affiliates manage the development, construction and certain day-to-day operations of the property subject to the Company’s oversight. The Company’s joint venture partner acquired a 25% noncontrolling interest. Pursuant to the joint venture agreement, distributions of operating cash flow will be distributed pro rata based on each member’s ownership interest. In November 2015, the Company acquired a tract of land in Grayson, Georgia for $1.8 million (“Dogwood Forest of Grayson”), which is approximately 35 miles from downtown Atlanta, Georgia. In connection with the acquisition, the Company entered into a development agreement with a third-party developer for the construction and development of an assisted living and memory care facility with a maximum development budget of approximately $26.0 million, including the allocated purchase price of the land. The Company determined that Dogwood Forest of Grayson is a VIE because it believes there is insufficient equity at risk due to the development nature of the property. The Company is the primary beneficiary while the developer or its affiliates manage the development, construction and certain day-to-day operations of the property subject to the Company’s oversight. Under a promoted interest agreement with the developer, certain net operating income targets have been established which, upon meeting such targets, result in the developer being 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. In February 2014, the Company acquired a tract of land in Tega Cay, South Carolina for $2.8 million (“Wellmore of Tega Cay”), which is a suburb of Charlotte, North Carolina. In connection with the acquisition, the Company entered into a development agreement with a third-party developer for the construction and development of a continuing care retirement community with a maximum development budget of approximately $35.6 million, including the allocated purchase price of the land. The Company determined that Wellmore of Tega Cay is a VIE because it believes there is insufficient equity at risk due to the development nature of the property. The Company is the primary beneficiary while the developer or its affiliates manage the development, construction and certain day-to-day operations of the property subject to the Company’s oversight. Under a promoted interest agreement with the developer, certain net operating income targets have been established which, upon meeting such targets, result in the developer being 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. In June 2014, the Company entered into a joint venture agreement with a third-party and acquired a 95% membership interest in a tract of land in Katy, Texas for $4.0 million (“Watercrest at Katy”), which is a suburb of Houston, Texas. The joint venture plans to construct and develop an independent living community with a maximum development budget of approximately $38.2 million, including the allocated purchase price of the land. The Company determined that Watercrest at Katy is a VIE because it believes there is insufficient equity at risk due to the development nature of the joint venture. The Company is the primary beneficiary and managing member while the joint venture partner or its affiliates manage the development, construction and certain day-to-day operations of the property subject to the Company’s oversight. The Company’s joint venture partner acquired a 5% noncontrolling interest that includes a put option of its membership to the Company upon the occurrence of certain events that are not solely within the control of the Company and at a price that is determinable upon exercising the option; refer to Note 13. “Equity – Redeemable Noncontrolling Interest” for additional information. Pursuant to the joint venture agreement, distributions of operating cash flow will be distributed pro rata based on each member’s ownership interest until the members of the joint venture receive a specified minimum return on their invested capital, and thereafter, the joint venture partner will receive a disproportionately higher share of any remaining proceeds at varying levels based on the Company having received certain minimum threshold returns. 3. Acquisitions (continued) In July 2014, the Company acquired a tract of land in Shorewood, Wisconsin for $2.2 million (“HarborChase of Shorewood”), which is a suburb of Milwaukee, Wisconsin. In connection with the acquisition, the Company entered into a development agreement with a third-party developer for the construction and development of an assisted living and memory care community with a maximum development budget of approximately $25.6 million, including the allocated purchase price of the land. The Company determined that HarborChase of Shorewood is a VIE because it believes there is insufficient equity at risk due to the development nature of the property. The Company is the primary beneficiary while the developer or its affiliates manage the development, construction and certain day-to-day operations of the property subject to the Company’s oversight. Under a promoted interest agreement with the developer, certain net operating income targets have been established which, upon meeting such targets, result in the developer being 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. Purchase of Controlling Interest in Montecito Joint Venture — In January 2013, the Company acquired a 90% membership interest in a two-story MOB in Claremont, California for approximately $7.0 million in equity through a joint venture (“Montecito Joint Venture”) formed by the Company and its co-venture partner, an unrelated party, that initially held the remaining 10% interest. The Montecito Joint Venture was previously recorded under the equity method of accounting because the decisions that significantly impacted the entity were shared between the Company and its co-venture partner, but it was not determined to be a VIE. In August 2014, the Company acquired its co-venture partner’s 10% interest in the Montecito Joint Venture for approximately $1.6 million. As a result of this transaction, the Company owns 100% of the Montecito Joint Venture, and began consolidating all of the assets, liabilities and results of operations in the Company’s consolidated financial statements upon acquisition. Accordingly, the Company recorded a step up from its carrying value of the investment in the Montecito Joint Venture to the estimated fair value of the net assets acquired and liabilities assumed. The following summarizes the allocation of the purchase price, and the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date (in thousands): Land and land improvements $ 6,324 Buildings and building improvements 13,533 Intangibles (1) 2,691 Working capital, net 87 Other liabilities (175 ) Mortgage note payable assumed (2) (12,331 ) Net assets acquired $ 10,129 FOOTNOTES: (1) At the acquisition date, the weighted-average amortization period on the acquired lease intangibles was approximately 5.1 years and was comprised of approximately $1.9 million and $0.8 million of in-place lease intangibles and other lease intangibles, respectively. (2) At the acquisition date, the fair value of the mortgage note payable assumed reflects an approximate $0.6 million discount on the below-market mortgage note payable assumed. The fair value of the Company’s equity interest in the Montecito Joint Venture immediately before the acquisition date was approximately $5.7 million. The Company recorded a gain of approximately $2.8 million based on the acquisition date fair value of its equity interest in the Montecito Joint Venture. The following summarizes the gain that resulted from the change of control in the equity method investment for the year ended December 31, 2015 (in thousands): Fair value of net assets acquired $ 10,129 Less: Previous investment in Montecito Joint Venture (5,747 ) Less: Cash paid to acquire co-venture partner's interest (1,584 ) Gain on purchase of controlling interest of investment in unconsolidated entity $ 2,798

Real Estate Assets, net

Real Estate Assets, net	12 Months Ended
	Dec. 31, 2015
Real Estate [Abstract]
Real Estate Assets, net	4. Real Estate Assets, net The gross carrying amount and accumulated depreciation of the Company’s real estate assets as of December 31, 2015 and December 31, 2014 are as follows (in thousands): December 31, 2015 2014 Land and land improvements $ 229,046 $ 128,662 Building and building improvements 2,297,336 1,545,614 Furniture, fixtures and equipment 60,601 36,319 Less: accumulated depreciation (116,807 ) (53,095 ) Real estate investment properties, net 2,470,176 1,657,500 Real estate under development, including land 62,521 47,153 Total real estate assets, net $ 2,532,697 $ 1,704,653 Depreciation expense on the Company’s real estate investment properties, net was approximately $63.6 million, $39.1 million and $12.0 million for the years ended December 31, 2015, 2014 and 2013, respectively. In June 2015, the Company completed the construction and development of a seniors housing community in Tega Cay, South Carolina (“Wellmore of Tega Cay”), which is a suburb of Charlotte, North Carolina. Wellmore of Tega Cay opened to residents beginning in July 2015 and was considered placed into service as of June 30, 2015. In November 2015, the Company completed the construction and development of a seniors housing community in Shorewood, Wisconsin (“Harborchase of Shorewood”), which is north of Milwaukee. Harborchase of Shorewood opened to residents beginning in December 2015 and was considered placed into service as of November 30, 2015. During the quarter ended December 31, 2015, the Company completed the construction of the independent living villas on the Raider Ranch community in Lubbock, Texas. Certain villas opened to residents beginning in September 2015 and each villa was placed into service throughout the quarter upon completion. The Company continues the construction and development of an independent living apartment building at this community. In June 2014, the Company completed the construction and development of a seniors housing community in Acworth, Georgia (“Dogwood Forest of Acworth”). Dogwood Forest of Acworth opened to residents in July 2014 and was considered placed into service as of June 30, 2014. As such, the asset values related to Wellmore of Tega Cay, Harborchase of Shorewood, portions of the Raider Ranch development and Dogwood Forest of Acworth are included in real estate investment properties, net in the accompanying consolidated balance sheet as of December 31, 2015. 4. Real Estate Assets, net (continued) As of December 31, 2015, eight of the Company’s seniors housing communities and one post-acute care facility have real estate under development or expansion projects with third-party developers as follows (in thousands): Property Name (and Location) Developer Real Estate Development Costs Incurred (1) (Unaudited) Remaining Development Budget (2) Development Properties Raider Ranch (Lubbock, TX) South Bay Partners, Ltd $ 9,942 $ 2,274 Watercrest at Katy (Katy, TX) (3) South Bay Partners, Ltd 26,565 16,245 Welbrook Senior Living Grand Junction (Grand Junction, CO) Embree Asset Group, Inc. 3,198 10,636 Waterstone (Greenville, SC) T&D Greenville, LLC 7,185 21,287 Wellmore of Lexington (Lexington, SC) Maxwell Group, Inc. 8,723 46,282 Dogwood Forest of Grayson (Grayson, GA) Solomon Development Services, LLC 3,973 23,024 Fieldstone at Pear Orchard (Yakima, WA) (4) Cascadia Development, LLC 2,606 13,067 Expansion Projects Tranquillity at Fredericktowne (Frederick, MD) Capital Health Partners 235 5,649 Brookridge Heights Assisted Living & Memory Care (Marquette, MI) Capital Health Partners 94 4,725 $ 62,521 $ 143,189 FOOTNOTES: (1) This amount represents land and total capitalized costs for GAAP purposes for the acquisition, development and construction of the seniors housing community or post-acute care facility as of December 31, 2015. Amounts include investment services fees, asset management fees, interest expense and other costs capitalized during the development period. (2) This amount includes preleasing and marketing costs which will be expensed as incurred. (3) This property is owned through a joint venture in which the Company’s initial ownership interest is 95%. (4) This property is owned through a joint venture in which the Company’s initial ownership interest is 75%. The development budgets include the cost of the land, construction costs, development fees, financing costs, start-up costs and initial operating deficits of the respective properties. An affiliate of the developer of the respective community coordinates and supervises the management and administration of the development and construction. Each developer is responsible for any cost overruns beyond the approved development budget for the applicable project pursuant to a cost overrun guarantee. Some of these developments were deemed to be VIEs; refer to Note 7. “Variable Interest Entities” for additional information.

Intangibles, net

Intangibles, net	12 Months Ended
	Dec. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Intangibles, net	5. Intangibles, net The gross carrying amount and accumulated amortization of the Company’s intangible assets and liabilities as of December 31, 2015 and December 31, 2014 are as follows (in thousands): December 31, 2015 2014 In-place lease intangibles $ 220,917 $ 148,880 Above-market lease intangibles 13,960 11,320 Below-market ground lease intangibles 12,470 10,314 Less: accumulated amortization (74,895 ) (30,250 ) Intangible assets, net $ 172,452 $ 140,264 Below-market lease intangibles $ (12,095 ) $ (13,243 ) Above-market ground lease intangibles (3,488 ) (2,273 ) Less: accumulated amortization 2,581 1,014 Intangible liabilities, net (1) $ (13,002 ) $ (14,502 ) FOOTNOTE: (1) Intangible liabilities, net are included in other liabilities in the accompanying consolidated balance sheets. Amortization on the Company’s intangible assets was approximately $44.6 million for the year ended December 31, 2015, of which approximately $2.0 million was treated as a reduction of rental income from operating leases, approximately $0.3 million was treated as an increase of property operating expenses and approximately $42.3 million was included in depreciation and amortization. Amortization on the Company’s intangible assets was approximately $25.1 million for the year ended December 31, 2014, of which approximately $1.0 million was treated as a reduction of rental income from operating leases, approximately $0.1 million was treated as an increase of property operating expenses and $24.0 million was included in depreciation and amortization. Amortization expense on the Company’s intangible assets was approximately $5.0 million for the year ended December 31, 2013, of which approximately $0.2 million was treated as a reduction of rental income from operating leases, approximately $0.1 million was treated as an increase of property operating expenses and approximately $4.7 million was included in depreciation and amortization. Amortization on the Company’s intangible liabilities was approximately $1.6 million for the year ended December 31, 2015, of which approximately $1.5 million was treated as an increase of rental income from operating leases and approximately $0.08 million was treated as a reduction of property operating expenses. For the year ended December 31, 2014, amortization on the Company’s intangible liabilities was approximately $0.8 million, which was treated as an increase of rental income from operating leases and approximately eight thousand dollars was treated as a reduction of property operating expenses. Amortization expense on the Company’s intangible liabilities was approximately $0.2 million for the year ended December 31, 2013, of which approximately $0.2 million was treated as an increase of rental income from operating leases and approximately three thousand dollars was treated as a reduction of property operating expenses. During the year ended December 31, 2015, as a result of tenant default at two of the Company’s specialty hospitals, the Company recorded an impairment provision of approximately $4.7 million related to the lease intangibles as it was determined that the carrying value of these assets would more than likely not be recoverable. 5. 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, 2015 is as follows (in thousands): In-place Lease Intangibles Above- market Leases Below- market Ground Leases Total Assets Below- market Leases Above- market Ground Leases Total Liabilities 2016 $ 42,932 1,899 320 $ 45,151 $ 1,577 89 $ 1,666 2017 29,041 1,703 320 31,064 1,414 89 1,503 2018 17,414 1,517 320 19,251 1,257 89 1,346 2019 12,128 1,215 320 13,663 1,094 89 1,183 2020 10,124 1,005 320 11,449 866 89 955 Thereafter 38,070 3,402 10,402 51,874 3,395 2,954 6,349 $ 149,709 10,741 12,002 $ 172,452 $ 9,603 3,399 $ 13,002 Weighted average remaining useful life as of December 31, 2015 (in years): In-place Lease Intangibles Above-market Leases Below-market Ground Leases Below-market Leases Above-market Ground Leases 4.7 5.9 37.6 5.5 38.1

Operating Leases

Operating Leases	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Operating Leases	6 Operating Leases As of December 31, 2015, the Company owned 84 properties that were leased to tenants on a triple-net, net or modified gross basis, and accounted for as operating leases; of which, 39 are single-tenant properties that are 100% leased under operating leases and the remaining 45 are multi-tenant properties that are leased under operating leases. The Company’s leases had a weighted average remaining lease term of 7.4 years based on annualized base rents expiring between 2016 and 2038, subject to the tenants’ options to extend the lease periods ranging from two to ten years. In addition, certain tenants hold options to extend their leases for multiple periods. 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 taxing authorities. However, if the tenant does not pay, the Company will be liable. The total annualized property tax assessed on these properties is approximately $2.9 million. Under the terms of the multi-tenant lease agreements that have third-party property managers, each tenant is responsible for the payment of their proportionate share of property taxes, general liability insurance, utilities, repairs and common area maintenance. These amounts are billed monthly and recorded as tenant reimbursement income in the accompanying consolidated statements of operations. The following are future minimum lease payments to be received under non-cancellable operating leases for the next five years and thereafter, as of December 31, 2015 (in thousands): 2016 $ 112,660 2017 106,582 2018 99,076 2019 90,885 2020 84,552 Thereafter 437,055 $ 930,810 6 Operating Leases (continued) The above future minimum lease payments to be received excludes tenant reimbursements, straight-line rent adjustments, amortization of above- and below-market lease intangibles and base rent attributable to any renewal options exercised by the tenants in the future. In addition, future minimum lease payments related to one of the two specialty hospitals discussed in Note 5. “Intangibles, net” have been excluded since the tenant had vacated the building as of December 31, 2015. Refer to Note 18. “Subsequent Events” for additional information.

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2015
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Variable Interest Entities	7. Variable Interest Entities Consolidated VIEs — As of December 31, 2015, the Company has 17 wholly-owned subsidiaries, which are VIEs due to the following factors and circumstances: (1) Two of these subsidiaries are single property entities, designed to own and lease their respective properties to single tenants, for which buy-out options are held by the respective tenants that are formula based. (2) Four of these subsidiaries are single property entities, designed to own and lease their respective properties to multiple tenants, which are subject to either a ground lease or an air rights lease that include buy-out and put options held by either the tenant or landlord under the applicable lease. (3) Eight of these subsidiaries are entities with real estate under development or completed developments in which there is either insufficient equity at risk due to the development nature of each entity or the third-party developers have an opportunity to earn promoted interest payments after certain net operating income targets and internal rate of return targets have been met. (4) Two of these subsidiaries are joint ventures with real estate under development in which there is insufficient equity at risk due to the development nature of each joint venture. In addition, one of the third-party developer has an opportunity to earn promoted interest payments after certain net operating income targets and internal rate of return targets have been met. (5) One of these subsidiaries is a joint venture with equity interest that consists of non-substantive voting rights. The Company determined it is the primary beneficiary and holds a controlling financial interest in each of the aforementioned property and development entities 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. 7. Variable Interest Entities (continued) 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, 2015 and December 31, 2014 are as follows (in thousands): December 31, 2015 2014 Assets: Real estate investment properties, net $ 219,971 $ 174,449 Real estate under development, including land $ 58,994 $ 47,153 Intangibles, net $ 23,540 $ 25,519 Cash $ 4,427 $ 6,280 Deferred rent and lease incentives $ 6,942 $ 2,978 Other assets $ 1,506 $ 511 Loan costs, net $ 2,625 $ 2,300 Restricted cash $ 1,461 $ 5,304 Liabilities: Mortgages and other notes payable, net $ 153,735 $ 137,754 Accounts payable and accrued liabilities $ 981 $ 2,317 Accrued development costs $ 10,669 $ 7,951 Other liabilities $ 3,644 $ 4,949 Due to related parties $ 136 $ 219 The Company’s maximum exposure to loss as a result of its involvement with these VIEs is limited to its net investment in these entities which totaled approximately $148.1 million as of December 31, 2015. The Company’s exposure is limited because of the non-recourse nature of the borrowings of the VIEs.

Ground and Air Rights Leases

Ground and Air Rights Leases	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Ground and Air Rights Leases	8. Ground and Air Rights Leases Under the terms of its ground and air rights lease agreements, the Company is responsible for the monthly rental payments. These amounts are billed monthly and recorded as property operating expenses in the accompanying consolidated statements of operations. In some cases, the Company is able to pass this expense through to its tenants as tenant reimbursement income. The Company incurred approximately $1.7 million, $0.5 million and $0.1 million in ground and air rights lease expense for the years ended December 31, 2015, 2014 and 2013, respectively, excluding straight-line rent adjustments and amortization of above- or below-market lease intangibles. The following is a schedule of future minimum lease payments to be paid under the ground and air rights leases for each of the next five years and thereafter, in the aggregate, as of December 31, 2015 (in thousands): 2016 $ 1,957 2017 1,984 2018 2,016 2019 2,039 2020 2,061 Thereafter 113,559 $ 123,616

Contingent Purchase Price Consi

Contingent Purchase Price Consideration	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Contingent Purchase Price Consideration	9. Contingent Purchase Price Consideration Capital Health Communities — In connection with the acquisition of the Capital Health Communities in 2012, the Company required that approximately $7.0 million of the purchase price be placed in an escrow account as the seller guaranteed the Company an annual return of at least $6.9 million, $7.0 million, and $7.1 million of net operating income on the acquired properties during 2013, 2014 and 2015, respectively (“Capital Health Yield Guaranty”). As of December 31, 2015, the Company had received the maximum amount of $7.0 million available under the Capital Health Yield Guaranty. The following table provides a roll-forward of the fair value of the contingent purchase price consideration for the years ended December 31, 2015, 2014 and 2013 (in thousands): Years Ended December 31, 2015 2014 2013 Beginning balance $ 4,078 $ 4,488 $ 2,664 Contingent consideration in connection with acquisition — — — Change in fair value 321 2,191 1,824 Yield Guaranty payment received from seller (4,399 ) (2,601 ) — Ending balance $ — $ 4,078 $ 4,488 Medical Portfolio I — During 2013, in conjunction with the acquisition of Medical Portfolio I, the Company entered into an earn-out agreement with the seller related to Cleveland Clinic, the tenant at Chestnut Commons, whereby the tenant maintains an exercisable right to expand the leased space by an additional 10,000 square feet within 24 months of the property acquisition closing (“Chestnut Commons Earn-Out”). The Chestnut Commons Earn-Out fee was equal to (a) the base rent due for the first full year of the lease applicable to the expansion space divided by 8% minus (b) the costs incurred by the Company in connection with the exercise by Cleveland Clinic of its option for the expansion space, including tenant improvement costs, multiplied by 50%. The Chestnut Commons Earn-Out expired in August 2015. The following table provides a roll-forward of the fair value of the contingent purchase price consideration for the years ended December 31, 2015, 2014 and 2013 (in thousands): Years Ended December 31, 2015 2014 2013 Beginning balance $ (268 ) $ (507 ) $ — Contingent consideration in connection with acquisition — — (507 ) Change in fair value 268 239 — Ending balance $ — $ (268 ) $ (507 ) South Bay II Communities — In conjunction with the acquisition of the South Bay II Communities, the Company entered into an agreement with the sellers whereby the purchase price is adjusted in the event that certain net operating income targets are met. The additional consideration was determined within three months of the acquisition date and is equal to (a) the baseline net operating income divided by the baseline capitalization rates (as defined in the purchase and sale agreement) less (b) the purchase price paid at closing. The following table provides a roll-forward of the fair value of the estimated contingent purchase price consideration for the years ended December 31, 2015, 2014 and 2013 (in thousands): Years Ended December 31, 2015 2014 2013 Beginning balance $ — $ — $ — Contingent consideration in connection with acquisition — (12,395 ) — Change in fair value — (1,800 ) — Contingent consideration payment — 14,195 — Ending balance $ — $ — $ — Superior Residences of Panama City — In connection with the purchase of Superior Residences of Panama City, the Company entered into an earn-out agreement with the seller whereby up to $4 million in additional consideration is owed in the event that certain performance targets are met (“Panama City Earn-Out”) during the immediate 36 months post-closing. At the acquisition date and as of December 31, 2015, the Company determined the fair value of the Panama City Earn-Out to be $3.0 million. 9. Contingent Purchase Price Consideration (Continued) The Shores of Lake Phalen — In connection with the purchase of Shores of Lake Phalen, the Company entered into an earn-out agreement with the seller whereby up to $0.8 million in additional consideration is owed in the event that certain net operating income targets are met (“Shores of Lake Phalen Earn-Out”) during the immediate 12 months post-closing. At the acquisition date and as of December 31, 2015, the Company determined the fair value of the Shores of Lake Phalen Earn-Out to be $0.8 million. Siena Pavilion VI — In conjunction with the acquisition of Siena Pavilion VI, the Company entered into an earn-out agreement with the seller whereby up to $3.3 million in additional consideration and $0.5 million of additional tenant improvements are owed in the event that the seller is able to lease-up additional space at the property during the immediate 6 months post-closing (“Siena Pavilion VI Earn-Out”). At the acquisition date and as of December 31, 2015, the Company determined the fair value of the Siena Pavilion VI Earn-Out to be $3.8 million. Center One — In connection with the purchase of Center One, the Company required that approximately $2.8 million of the purchase price be placed in an escrow account as the seller provided a rent guarantee to the Company in connection with two seller leased spaces at the property for a term equal to the earlier of five years or at such time as a suitable replacement tenant can be found (“Center One Rent Guarantee”). At the acquisition date and as of December 31, 2015, the Company determined the fair value of the Center One Rent Guarantee to be $1.0 million. Fair Value Measurements The fair value of the contingent purchase price consideration was based on a then-current income approach that is primarily determined based on the present value and probability of future cash flows using internal underwriting models. The income approach further includes estimates of risk-adjusted rate of return and capitalization rates for each property. Since this methodology includes inputs that are less observable by the public and are not necessarily reflected in active markets, the measurements of the estimated fair value related to the Company’s contingent purchase price consideration are categorized as Level 3 on the three-level fair value hierarchy.

Indebtedness

Indebtedness	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Indebtedness	10. Indebtedness The following table provides details of the Company’s indebtedness as of December 31, 2015 and December 31, 2014 (in thousands): December 31, 2015 2014 Mortgages payable and other notes payable: Fixed rate debt $ 391,639 $ 370,854 Variable rate debt (1) 449,017 482,922 Mortgages and other notes payable (2) 840,656 853,776 Premium (discount), net (3) (221 ) (215 ) Total mortgages and other notes payable, net 840,435 853,561 Credit facilities: First Term Loan Facility (1) 175,000 175,000 Revolving Credit Facility (4) 225,000 31,403 Second Term Loan Facility (5) 260,000 ― Total borrowings $ 1,500,435 $ 1,059,964 FOOTNOTES: (1) As of December 31, 2015 and December 31, 2014, the Company had entered into interest rate swaps with notional amounts of approximately $480.7 million and $182.1 million, respectively, which were settling on a monthly basis. In addition, as of December 31, 2015 and December 31, 2014, the Company had entered into forward-starting interest rate swaps for total notional amounts of approximately $48.4 million and $269.4 million, respectively, in order to hedge the Company’s exposure to this variable rate debt in future periods. Refer to Note 12. “Derivative Financial Instruments” for additional information. (2) As of December 31, 2015, the Company’s mortgages and other notes payable are collateralized by 65 properties with total carrying value of approximately $1.4 billion. (3) Premium (discount), net is reflective of the Company recording mortgage note payables assumed at fair value on the respective acquisition dates. (4) As of December 31, 2015 and December 31, 2014, availability under the Revolving Credit Facility was approximately $20.0 million and $14.0 million, respectively, based on the value of the properties in the unencumbered pool of assets supporting the loan. (5) As of December 31, 2015, the Company had entered into an interest rate cap with a notional amount of approximately $260 million. Refer to Note 12. “Derivative Financial Instruments” for additional information. The following is a schedule of future principal payments and maturity for the Company’s total borrowings as of December 31, 2015 (in thousands): 2016 $ 36,758 2017 262,276 2018 287,172 2019 491,631 2020 333,318 Thereafter 89,280 $ 1,500,435 As a result of the tenant default discussed in Note 5. “Intangibles, net,” the lender on the mortgage loan secured by the two specialty hospitals elected to accelerate the required debt service payments related to these properties from a 25-year to a 15-year amortization period given that the tenant did not meet the required lease coverage thresholds. In September 2015, the Company signed an amended and restated lease agreement with a new tenant at one of the specialty hospitals and the lender re-adjusted the required debt service payments for the property back to a 25-year amortization period. The above maturities of indebtedness have been updated to reflect the amortization adjustments made by the lender for this property. 10. Indebtedness (continued) The fair market value and carrying value of the mortgage and other notes payable was approximately $844.6 million and $840.4 million, respectively, and both the fair market value and carrying value of the Credit Facilities was $660.0 million as of December 31, 2015. The fair market value and carrying value of the mortgage and other notes payable was approximately $868.5 million and $853.6 million, respectively, and both the fair market value and carrying value of the Revolving Credit Facility was $206.4 million as of December 31, 2014. 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. The estimated fair value of accounts payable and accrued liabilities approximates the carrying value as of December 31, 2015 and December 31, 2014 because of the relatively short maturities of the obligations. In December 2014, the Company amended and restated the terms of the credit agreement with KeyBank, as administrative agent, by entering into a $230 million Revolving Credit Facility and a $175 million Term Loan Facility. Pursuant to the Amended Credit Agreement, the Company has the ability to increase the collective borrowings under the Credit Facilities to $700 million under the accordion features of the Revolving Credit Facility, as additional properties are added to the unencumbered pool of assets. Moreover, the Revolving Credit Facility has an initial term of 36 months plus two 12-month extension options; whereas, the Term Loan Facility has an initial term of 50 months plus one 12-month extension option. The Credit Facilities bear interest based on 30-day LIBOR and a spread that varies with the Company’s leverage ratio. In addition, the Company is required to make interest only payments until the respective maturity dates of the Credit Facilities as well as to pay fees ranging from 0.15% to 0.25% for unused commitments on the Revolving Credit Facility. In May and November 2015, the Company executed amendments to the credit agreement with KeyBank, as administrative agent, related to the Credit Facilities, which adjusts certain criteria and terms for the unencumbered pool of assets supporting the Company’s Revolving Credit Facility. The amendments allowed the Company to include additional properties in the unencumbered pool of assets, which increased the availability under the Revolving Credit Facility. In November 2015, the company entered into a $260 million Second Term Loan Facility. The Second Term Loan Facility has an initial term of 60 months. The Second Term Loan Facility bears interest based on the 30-day LIBOR and a spread that varies with the Company’s leverage ratio. In addition, the Company is required to make interest only payments until the maturity date. All of the Company’s mortgage and construction 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. As of December 31, 2015, the Company was in compliance with all financial covenants and ratios. 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 and (viii) limitations on certain types of investments and with respect to the pool of properties supporting borrowings under the Credit Facilities, minimum debt service coverage ratio, minimum weighted average occupancy, and remaining lease terms, as well as property type, MSA, operator, and asset value concentration limits. The limitations on distributions 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. 10. Indebtedness (continued) The following table provides additional details of the Company’s mortgages and other notes payable as of December 31, 2015 and 2014 (in thousands): Interest Rate at December 31, December 31, Property and Loan Type 2015 (1) Payment Terms Maturity Date (2) 2015 2014 Pacific Northwest Communities; Mortgage Loan 4.30% per annum Monthly principal and interest payments based on a 25-year amortization schedule 12/5/18 $ 210,665 $ 215,904 Capital Health Communities; Mortgage Loan 4.25% per annum Monthly principal and interest payments based on a 25-year amortization schedule 1/5/20 37,889 43,684 Primrose II Communities; Mortgage Loan 3.81% per annum Monthly principal and interest payments based on a 30-year amortization schedule 6/1/20 22,473 22,913 Novi Orthopaedic Center; Mortgage Loan 3.61% per annum Monthly interest only payments through June 2018; principal and interest payments thereafter based on a 25-year amortization schedule 6/15/20 19,825 — ProMed Medical Building I; Mortgage Loan 3.64% per annum (4) Monthly principal and interest payments based upon a 25-year amortization schedule 1/15/22 7,050 — Primrose I Communities; Mortgage Loan (5) 4.11% per annum Monthly principal and interest payments based on a 30-year amortization schedule 9/1/22 52,048 53,060 Watercrest at Mansfield; Mortgage Loan (6) 4.68% per annum Monthly principal and interest payments based on a total payment of $143,330 6/1/23 26,628 27,073 540 New Waverly Place; Mortgage Loan (7) 4.08% per annum Monthly principal and interest payments based upon a 25-year amortization schedule 5/31/28 7,048 — LaPorte Cancer Center; Mortgage Loan 4.25% per annum (through 2020) Monthly principal and interest payments based on a 25-year amortization schedule 6/14/28 8,013 8,220 Total fixed rate debt 391,639 370,854 Perennial Communities; Mortgage Loan (8) (8) (8) — 30,000 Medical Portfolio I Properties; Mortgage Loan (9) (9) (9) — 34,720 Lee Hughes Medical Building; Mortgage Loan 30-day LIBOR plus 1.85% per annum Monthly principal and interest payments based on a 30-year amortization schedule 9/5/16 18,632 19,162 10. Indebtedness (continued) Interest Rate at December 31, December 31, Property and Loan Type 2015 (1) Payment Terms Maturity Date (2) 2015 2014 Harborchase of Villages Crossing; Construction Loan (10) (10) (10) — 16,589 Raider Ranch Development Construction Loan 30-day LIBOR plus 3.50% at 0.5% LIBOR floor Monthly interest only payments through October 2017; principal and interest payments thereafter based on a 25-year amortization schedule 10/27/17 7,528 1 Northwest Medical Park; Mortgage Loan (11) 30-day LIBOR plus 2.30% per annum Monthly principal and interest payments based upon a 30-year amortization schedule 10/31/17 7,008 7,129 Watercrest at Katy Construction Loan 30-day LIBOR plus 2.75% per annum Monthly interest only payments through December 2017; principal payments thereafter based on a 30 amortization schedule 12/27/17 10,632 — Dogwood Forest of Acworth; Construction Loan (12) (12) (12) — 12,038 Claremont Medical Office; Mortgage Loan (13) 30-day LIBOR plus 2.60% per annum Monthly principal and interest payments based on a 30-year amortization schedule 1/15/18 12,683 12,958 Knoxville Medical Office Properties; Mortgage Loan (14) 30-day LIBOR plus 2.50% per annum Monthly interest only payments for the first 18 months; principal and interest payments thereafter based on a 30-year amortization schedule 7/10/18 38,087 38,609 Calvert Medical Office Properties; Mortgage Loan (15) 30-day LIBOR plus 2.50% per annum Monthly interest only payments for the first 18 months; principal and interest payments thereafter based on a 30-year amortization schedule 8/29/18 25,950 26,274 Wellmore of Tega Cay; Construction Loan 30-day LIBOR plus 5.4% at 0.5% LIBOR floor Monthly interest only payments through February 2019; principal and interest payments thereafter based on a 25-year amortization schedule 2/5/19 23,695 8,007 Memorial Hermann Orthopedic & Spine Hospital Medical Office Building; Mortgage Loan (16) 90-day LIBOR plus 2.85% at 0.4% LIBOR floor Monthly principal and interest payments based on a 20-year amortization schedule 6/2/19 48,832 49,624 Medical Portfolio II Properties; Mortgage Loan 90-day LIBOR plus 2.35% at 0.25% LIBOR floor Monthly principal and interest payments based on a 25-year amortization schedule 7/14/19 83,295 85,127 HarborChase of Shorewood; Construction Loan 30-day LIBOR plus 3% at 2% LIBOR floor Monthly interest only payments through June 2017; principal and interest payments thereafter based on a 25-year amortization schedule 7/15/19 12,469 — Wellmore of Lexington; Construction Loan 30-day LIBOR plus 2.5% per annum Monthly interest only payments through September 2019; principal payments thereafter based on a 30-year amortization schedule 9/13/19 — — 10. Indebtedness (continued) Interest Rate at December 31, December 31, Property and Loan Type 2015 (1) Payment Terms Maturity Date (2) 2015 2014 Southeast Medical Office Properties; Mortgage Loan 30-day LIBOR plus 2.0% per annum Monthly principal and interest payments based on a 25-year amortization schedule 12/22/19 160,206 142,684 Waterstone; Construction Loan 30-day LIBOR plus 3.0% per annum Monthly interest only payments through September 2018; principal payments thereafter based on a 30-year amortization schedule 9/1/20 — — Fieldstone at Pear Orchard; Construction Loan 30-day LIBOR plus 2.9% per annum Monthly interest only payments through September 2018; principal payments thereafter based on a 25-year amortization schedule 10/15/20 — — Dogwood Forest of Grayson; Construction Loan 30-day LIBOR plus 3.0% per annum Monthly interest only payments through December 2018; principal payments thereafter based on a 30-year amortization schedule 12/1/20 — — Total variable rate debt 449,017 482,922 Total debt $ 840,656 $ 853,776 FOOTNOTES: (1) The 30-day and 90-day LIBOR was approximately 0.43% and 0.61%, respectively, as of December 31, 2015 and approximately 0.17% and 0.25%, respectively, as of December 31, 2014. (2) Represents the initial maturity date (or, as applicable, the maturity date as extended). The maturity date may be extended beyond the date shown subject to certain lender conditions. (3) The Pacific Northwest Loan may be prepaid, in whole or in part, with a prepayment premium equal to the greater of: (i) one percent (1%) of the principal amount being prepaid, multiplied by the quotient of the number of full months remaining until the maturity date of the loan (calculated as of the prepayment date) divided by the number of full months comprising the term of the loan; or (b) a “make-whole” payment equal to the present value of the loan less the amount of principal and accrued interest being prepaid calculated as of the prepayment date for the period between that date and the maturity date. (4) Beginning January 2020, the interest rate transitions to variable rate based on 30-day LIBOR plus 2.20% per annum. (5) If prepaid prior to March 1, 2022, the Primrose I Communities Mortgage Loan is subject to a prepayment penalty in an amount equal to the greater of (i) 1% of the principal being repaid, or (ii) an amount calculated on the principal being repaid, multiplied by the difference between the Primrose I Communities Mortgage Loan interest rate, and a calculated yield rate tied to the rates on applicable U.S. Treasuries. If prepayment is made between March 1, 2022, and May 31, 2022, the prepayment penalty will be 1% of the outstanding principal balance of the Primrose I Communities Mortgage Loan. No prepayment fee is required if the Primrose I Communities Mortgage Loan is prepaid between June 1, 2022 and maturity. Partial prepayment of a loan is not permitted. The loan is transferable upon sale of the assets subject to lender approval. (6) The balance for this loan excludes a remaining premium of $0.3 million related to the mortgage note payable assumed being recorded at fair value on the acquisition date. (7) The balance for this loan excludes a remaining premium of $0.1 million related to the mortgage note payable assumed being recorded at fair value on the acquisition date. (8) In March 2015, the Company repaid its $30.0 million outstanding mortgage loan on the Perennial Communities prior to its scheduled maturity. In connection therewith, the Company wrote-off approximately $0.2 million in unamortized loan costs as interest expense and loan cost amortization in the accompanying consolidated statements of operations. In addition, the corresponding interest rate swap was terminated and approximately $0.1 million related to the derecognition of the cash flow hedge was reclassified from other comprehensive loss to interest expense and loan cost amortization in the accompanying consolidated financial statements. 10. Indebtedness (continued) (9) In April 2015, the Company repaid its $34.5 million outstanding mortgage loan on the Medical Portfolio I Properties prior to its scheduled maturity. In connection therewith, the Company wrote-off approximately $0.2 million in unamortized loan costs as interest expense and loan cost amortization in the accompanying consolidated statements of operations. In addition, the corresponding interest rate swap was terminated and approximately $0.2 million related to the derecognition of the cash flow hedge was reclassified from other comprehensive loss to interest expense and loan cost amortization in the accompanying consolidated financial statements. (10) In December 2015, the Company repaid its $16.5 million outstanding construction loan on the HarborChase of Villages Crossing property prior to its scheduled maturity. In connection therewith, the Company wrote-off approximately $0.1 million in unamortized loan costs as interest expense and loan cost amortization in the accompanying consolidated statements of operations. (11) The Company entered into an interest rate swap with a remaining notional amount of $7.0 million; see Note 12. “Derivative Financial Instruments” for additional information. (12) In December 2015, the Company repaid its $12.4 million outstanding construction loan on the Dogwood Forest of Acworth property prior to its scheduled maturity. In connection therewith, the Company wrote-off approximately $0.1 million in unamortized loan costs as interest expense and loan cost amortization in the accompanying consolidated statements of operations. (13) The balance for this loan excludes a remaining discount of $0.4 million related to the mortgage note payable assumed being recorded at fair value on the acquisition date. In addition, the Company entered into a three-year forward interest rate swap with a remaining notional amount of $12.2 million; see Note 12. “Derivative Financial Instruments” for additional information (14) The Company entered into an interest rate swap with a remaining notional amount of $38.1 million; see Note 12. “Derivative Financial Instruments” for additional information. (15) The Company entered into an interest rate swap with a remaining notional amount of $25.9 million; see Note 12. “Derivative Financial Instruments” for additional information. (16) The Company entered into a three-year forward interest rate swap with a remaining notional amount of $48.4 million; see Note 12. “Derivative Financial Instruments” for additional information. (17) The Company entered into an interest rate swap with a remaining notional amount of $83.8 million; see Note 12. “Derivative Financial Instruments” for additional information. (18) The Company entered into an interest rate swap with a remaining notional amount of $138.7 million; see Note 12. “Derivative Financial Instruments” for additional information.

Related Party Arrangements

Related Party Arrangements	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Related Party Arrangements	11. 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 addition, certain directors and officers hold similar positions with CNL Securities Corp., the managing dealer of the Offerings and a wholly owned subsidiary of CNL (“Managing Dealer”). In connection with services provided to the Company, affiliates are entitled to the following fees: Managing Dealer — The Managing Dealer received selling commissions and marketing support fees of up to 7% and 3%, respectively, of gross offering proceeds for shares sold, excluding shares sold pursuant to the Company’s Reinvestment Plan, all or a portion of which may be paid to participating broker dealers by the Managing Dealer. 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 in 2013, 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 of 0.08334% of 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. 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. The Company will pay the Advisor a disposition fee in an amount equal to (i) in the case of the sale of real property, the lesser of (A) one-half of a competitive real estate commission, or (B) 1% of the sales price of such property, and (ii) in the case of the sale of any asset other than real property or securities, 1% of the sales price of such asset, if the Advisor, its affiliates or related parties provide a substantial amount of services, as determined by the Company’s independent directors, in connection with the sale of one or more assets (including a sale of all of its assets or the sale of it or a portion thereof). The Company will not pay its Advisor a disposition fee in connection with the sale of investments that are securities; however, 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, if such affiliate is properly licensed. 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 both 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, noncompounded 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. In March 2013, the Company entered into the Advisor Expense Support Agreement pursuant to which the Advisor agreed to accept certain payments in the form of forfeitable restricted common stock of the Company in lieu of cash for asset management fees and specified expenses owed by the Company to the Advisor under the advisory agreement. The term of the Advisor Expense Support Agreement automatically renews for consecutive one year periods, subject to the right of the Advisor to terminate the Advisor Expense Support Agreement upon 30 days’ written notice to the Company. 11. Related Party Arrangements (continued) Commencing on April 1, 2013, the Advisor has provided expense support to the Company through forgoing the payment of fees in cash and acceptance of restricted stock for services rendered and specified expenses incurred in an amount equal to the positive excess, if any, of (a) aggregate stockholder cash distributions declared for the applicable quarter, over (b) the Company’s aggregate modified funds from operations (as defined in the Advisor Expense Support Agreement). The Advisor expense support amount shall be determined for each calendar quarter, on a non-cumulative basis, on each Determination Date. Property Manager — Pursuant to a property management agreement, as amended in 2012, the Property Manager receives property management fees of (a) 2% of annual gross rental revenues from single tenant properties, and (b) 4% of annual gross rental revenues from multi-tenant properties. In the event that the Company contracts directly with a third-party property manager, the Company may pay the Property Manager an oversight fee of up to 1% of annual gross revenues of the property managed; however, in no event will the Company pay both a property management fee and an oversight fee with respect to the same property. The Company will pay to the Property Manager a construction management fee equal to 5% of hard and soft costs associated with the initial construction or renovation of a property, or with the management and oversight of expansion projects and other capital improvements, in those cases in which the value of the construction, renovation, expansion or improvements exceeds (i) 10% of the initial purchase price of the property, and (ii) $1.0 million, which fee will be due and payable upon completion of such projects. In August 2013, the Company entered into the Property Manager Expense Support Agreement pursuant to which the Property Manager has agreed to accept certain payments in the form of forfeitable restricted common stock of the Company in lieu of cash for property management services owed by the Company to the Property Manager under the property management and leasing agreement. Commencing on July 1, 2013, the Property Manager is required to provide expense support to the Company through forgoing the payment of fees in cash and acceptance of restricted stock for services in an amount equal to the positive excess, if any, of (a) aggregate stockholder cash distributions declared for the applicable quarter, over (b) the Company’s aggregate modified funds from operations (as defined in the Property Manager Expense Support Agreement). The Property Manager expense support amount shall be determined, on a non-cumulative basis, after the calculation of the Advisor expense support amount pursuant to the Property Manager Expense Support Agreement on each Determination Date. Expense Support Agreements — In exchange for services rendered and in consideration of the expense support provided, the Company shall issue, within 45 days following each Determination Date, a number of shares of restricted stock equal to the quotient of the expense support amount provided by to the Advisor and Property Manager for the preceding quarter divided by the then-current public offering price per share of common stock, on the terms and conditions and subject to the restrictions set forth in the Expense Support Agreements. Any amounts deferred, and for which restricted stock shares are issued, pursuant to the Expense Support Agreements will be permanently waived and the Company will have no obligation to pay such amounts to the Advisor or the Property Manager. The Restricted Stock is subordinated and forfeited to the extent that shareholders do not receive their original invested capital back with at least a 6% annualized return of investment upon ultimate liquidity of the Company. Refer to Note 2. “Summary of Significant Accounting Policies” for treatment of issued Restricted Stock. The Company amended the Expense Support Agreements in March 2016; refer to Note 18. “Subsequent Events” for additional information. CNL Capital Markets Corp — CNL Capital Markets Corp., 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 the years ended December 31, 2015, 2014 and 2013, the Company incurred approximately $0.6 million, $0.4 million and $0.3 million in such fees, respectively. These amounts are included in general and administrative expenses in the accompanying consolidated statements of operations. Co-venture partners — The Company paid certain amounts on behalf of its co-venture partner, Windsor Manor, of approximately $2,000 and $30,000 during the years ended December 31, 2015 and 2014. The Company has recorded a receivable balance as of December 31, 2015 and 2014, which is included in other assets in the accompanying consolidated balance sheet. 11. Related Party Arrangements (continued) The Company incurs operating expenses which, in general, relate to administration of the Company on an ongoing basis. 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 Agreements. For the Expense Year ended December 31, 2015, the Company did not incur operating expenses in excess of the Limitation. The Company maintains accounts totaling approximately $0.1 million as of December 31, 2015 and 2014, at a bank in which the Company’s chairman served as a director through December 2015. In March 2015, the Company acquired Fieldstone Memory Care, a 40-unit memory care community located in Yakima, Washington for a purchase price of $12.4 million from a related party of the Company’s Sponsor. The board of directors, including all of the independent directors, concluded that substantial justification existed to consummate the Fieldstone Memory Care acquisition. In determining whether to approve the Fieldstone Transaction, the board of directors reviewed and took into account, among other factors it deemed appropriate, the following information, facts and circumstances: an affiliate of CNL is the majority interest holder and managing member of the seller; the purchase price exceeds the seller’s acquisition and development costs; a March 2015 independent appraisal; and a prospective value upon reaching stabilization. In June 2013, the Company originated an ADC Loan in the amount of $6.2 million to C4 Development, LLC (“Crosland Southeast”), a related party by virtue of a family relationship between a principal of the borrower and the Company’s vice chairman who recused himself from review and approval of the investment, for the development of an MOB in Rutland, Virginia that will function as an out-patient emergency and imaging center and was leased to Hospital Corporation of America (“HCA”). As of December 31, 2014, the Company’s ADC Loan had been fully repaid. The Company recorded interest income for the years ended December 31, 2014 and 2013, which is included in interest income on note receivable from related party in the accompanying consolidated statements of operations. The fees incurred by and reimbursable to the Managing Dealer in connection with the Company’s Offerings for the years ended December 31, 2015, 2014 and 2013, and related amounts unpaid as of December 31, 2015 and 2014 are as follows (in thousands): Years Ended December 31, Unpaid amounts (1) as of December 31, 2015 2014 2013 2015 2014 Selling commissions (2) $ 12,507 $ 18,387 $ 10,262 $ — $ 388 Marketing support fees (2) 16,242 16,429 11,310 — 555 $ 28,749 $ 34,816 $ 21,572 $ — $ 943 11. Related Party Arrangements (continued) The expenses and fees incurred by and reimbursable to the Company’s related parties for the years ended December 31, 2015, 2014 and 2013, and related amounts unpaid as of December 31, 2015 and 2014 are as follows (in thousands): Years Ended December 31, Unpaid amounts (1) as of December 31, 2015 2014 2013 2015 2014 Reimbursable expenses: Offering costs (2) $ 3,446 $ 5,151 $ 4,373 $ 32 $ 713 Operating expenses (3) 4,192 3,206 2,576 935 479 Acquisition fees and expenses 613 614 254 12 80 8,251 8,971 7,203 979 1,272 Investment services fees (4) 18,561 18,553 12,892 182 — Disposition fee (5) — — 608 — — Financing coordination fees (6) — 220 — — — Property management fees (7) 3,894 2,982 1,244 418 429 Asset management fees (8) 22,837 13,612 5,089 224 355 $ 53,543 $ 44,338 $ 27,036 $ 1,803 $ 2,056 FOOTNOTES: (1) Amounts are recorded as due to related parties in the accompanying consolidated balance sheets. (2) Amounts are recorded as stock issuance and offering costs in the accompanying consolidated statements of stockholders’ equity and redeemable noncontrolling interest. Amounts include approximately $25,000, $30,000 and $0.1 million of reimbursement payments to the Advisor for services provided to the Company by its executive officers for the years ended December 31, 2015, 2014 and 2013, respectively. The reimbursement payments include components of salaries, benefits and other overhead charges. (3) Amounts are recorded as general and administrative expenses in the accompanying consolidated statements of operations. Amounts include approximately $0.1 million, $0.2 million and $0.2 million of reimbursement payments to the Advisor for services provided to the Company by its executive officers for the years ended December 31, 2015, 2014 and 2013, respectively. The reimbursement payments include components of salaries, benefits and other overhead charges. (4) For the year ended December 31, 2015, the Company incurred approximately $18.6 million in investment services fees of which approximately $2.3 million, was capitalized and included in real estate under development in the accompanying consolidated balance sheets. For the year ended December 31, 2014, the Company incurred approximately $18.6 million in investment service fees of which approximately $1.8 million was capitalized and included in real estate under development. For the year ended December 31, 2013, the Company incurred approximately $12.9 million in investment service fees of which approximately $0.5 million and $0.1 million, respectively, were capitalized and included in investments in unconsolidated entities and real estate under development. Investment service fees, that are not capitalized, are recorded as acquisition fees and expenses in the accompanying consolidated statements of operations. (5) Amounts are recorded as a reduction to gain on sale of investment in unconsolidated entity in the accompanying consolidated statements of operations. (6) For the year ended December 31, 2014, the Company incurred approximately $0.2 million in financing coordination fees, which was capitalized and included in its investment in the Windsor Manor Joint Venture. There were no financing coordination fees for the years ended December 31, 2015 and 2013. (7) For the years ended December 31, 2015, 2014 and 2013, the Company incurred approximately $3.9 million, $2.9 million and $1.2 million, respectively, in property and construction management fees payable to the Property Manager of which approximately $0.7 million, $0.9 million and $0.2 million, respectively, in construction management fees were capitalized and included in real estate under development in the accompanying consolidated balance sheets. (8) For the years ended December 31, 2015, 2014 and 2013, the Company incurred approximately $22.9 million, $13.6 million and $5.1 million, respectively, in asset management fees payable to the Advisor of which approximately $4.4 million, $4.9 million and $1.4 million, respectively, were settled in accordance with the terms of the Advisor Expense Support Agreement and approximately $0.6 million , $0.3 million and $0.1 million, respectively, were capitalized and included in real estate under development in the accompanying consolidated balance sheets. 11. Related Party Arrangements (continued) The following fees were settled in connection with the Expense Support Agreements for the years ended December 31, 2015, 2014 and 2013, and cumulatively as of December 31, 2015 (in thousands, except offering price): Years Ended December 31, As of December 31, 2015 2014 2013 2015 Asset management fees (1) $ 4,379 $ 4,867 $ 1,402 $ 10,648 Then-current offering price or NAV (2) $ 10.19 $ 10.24 $ 10.00 $ 9.75 Restricted stock shares (3) 423 478 140 1,041 Cash distributions on Restricted Stock (4) $ 281 $ 98 $ 5 $ 384 Stock distributions on Restricted Stock (5) 14 7 — (6) 21 FOOTNOTES: (1) No other amounts have been settled in connection with the Expense Support Agreements for the years ended December 31, 2015, 2014 and 2013, and cumulatively as of December 31, 2015. (2) The number of restricted stock shares granted to the Advisor in lieu of payment in cash is determined by dividing the expense support amount for the respective quarter by the then-current public offering price as of the Determination Date or by NAV, once the board of directors has made such determination after the close of the Company’s public offering. (3) Restricted stock shares are comprised of approximately 0.8 million issued to the Advisor and approximately 0.2 million issuable to the Advisor as of December 31, 2015. No fair value was assigned to the restricted stock shares as the shares were valued at zero, which represents 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, 2015. (4) The cash distributions have been recognized as compensation expense as issued and included in general and administrative expense in the accompanying consolidated statements of operations. (5) This represents the number of shares issued to the Advisor as stock distributions on its restricted stock shares. The par value of the stock distributions has been recognized as compensation expense as issued and included in general and administrative expense in the accompanying consolidated statements of operations. (6) During the year ended December 31, 2013, the Advisor received 356 shares in the form of stock distributions under the terms of the Advisor Expense Support Agreement.

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2015
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	12. Derivative Financial Instruments The following summarizes the terms of the Company’s, or its equity method investments’, derivative financial instruments and the corresponding asset (liability) as of December 31, 2015 and 2014 (in thousands): Fair value asset (liability) as of Notional Amount Strike (1) Credit Spread (1) Trade date Forward date Maturity date December 31, 2015 December 31, 2014 $ 12,248 (2 ) 1.3 % 2.6 % 1/17/2013 1/15/2015 1/16/2018 $ (85 ) $ (71 ) $ 38,052 (2 ) 2.7 % 2.5 % 9/6/2013 8/17/2015 7/10/2018 $ (1,472 ) $ (1,228 ) $ 25,929 (2 ) 2.8 % 2.5 % 9/6/2013 8/17/2015 8/29/2018 $ (1,086 ) $ (906 ) $ 30,000 (3 ) 1.1 % 2.7 % 10/22/2013 8/5/2015 (3) $ — $ (82 ) $ 29,952 (3 ) 0.9 % 4.3 % 11/13/2013 5/11/2015 (3) $ — $ (74 ) $ 10,699 (4 ) 3.0 % — % 6/27/2014 6/30/2014 6/30/2017 $ 1 $ 10 $ 48,415 (2 ) 2.4 % 2.9 % 8/15/2014 6/1/2016 6/2/2019 $ (1,066 ) $ (270 ) $ 83,797 (2 ) 2.3 % 2.4 % 9/12/2014 8/1/2015 7/15/2019 $ (2,283 ) $ (1,326 ) $ 6,998 (2 ) 1.2 % 2.3 % 11/12/2014 11/15/2014 10/15/2017 $ (37 ) $ (35 ) $ 175,000 (2 ) 1.6 % 2.0 % 12/23/2014 12/19/2014 2/19/2019 $ (1,694 ) $ (881 ) $ 138,698 (2 ) 1.7 % 2.0 % 1/9/2015 12/10/2015 12/22/2019 $ (1,795 ) $ — $ 260,000 (4 ) 1.5 % — % 11/19/2015 11/19/2015 11/30/2018 $ 1,988 $ — The following summarizes the gross and net presentation of amounts related to the Company’s, or its equity method investments’, derivative financial instruments as of December 31, 2015 (in thousands): Gross and net amounts of asset (liability) as of December 31, 2015 Gross amounts as of December 31, 2015 Notional amount Gross amount Offset amount Net amount Financial Instruments Cash Collateral Net Amount $ 12,248 (2) $ (85 ) $ — $ (85 ) $ (85 ) $ — $ (85 ) $ 38,052 (2) $ (1,472 ) $ — $ (1,472 ) $ (1,472 ) $ — $ (1,472 ) $ 25,929 (2) $ (1,086 ) $ — $ (1,086 ) $ (1,086 ) $ — $ (1,086 ) $ 30,000 (3) $ — $ — $ ― $ ― $ — $ — $ 29,952 (3) $ — $ — $ ― $ ― $ — $ — $ 10,699 (4) $ 1 $ — $ 1 $ 1 $ — $ 1 $ 48,415 (2) $ (1,066 ) $ — $ (1,066 ) $ (1,066 ) $ — $ (1,066 ) $ 83,797 (2) $ (2,283 ) $ — $ (2,283 ) $ (2,283 ) $ — $ (2,283 ) $ 6,998 (2) $ (37 ) $ — $ (37 ) $ (37 ) $ — $ (37 ) $ 175,000 (2) $ (1,694 ) $ — $ (1,694 ) $ (1,694 ) $ — $ (1,694 ) $ 138,698 (2) $ (1,795 ) $ — $ (1,795 ) $ (1,795 ) $ — $ (1,795 ) $ 260,000 (4) $ 1,988 $ — $ 1,988 $ 1,988 $ — $ 1,988 12. Derivative Financial Instruments (continued) The following summarizes the gross and net presentation of amounts related to the Company’s, or its equity method investments’, derivative financial instruments as of December 31, 2014 (in thousands): Gross and net amounts of asset (liability) as of December 31, 2014 Gross amounts as of December 31, 2014 Notional amount Gross amount Offset amount Net amount Financial Instruments Cash Collateral Net Amount $ 12,421 (2) $ (71 ) $ — $ (71 ) $ (71 ) $ — $ (71 ) $ 38,255 (2) $ (1,228 ) $ — $ (1,228 ) $ (1,228 ) $ — $ (1,228 ) $ 26,067 (2) $ (906 ) $ — $ (906 ) $ (906 ) $ — $ (906 ) $ 30,000 (3) $ (82 ) $ — $ (82 ) $ (82 ) $ — $ (82 ) $ 29,952 (3) $ (74 ) $ — $ (74 ) $ (74 ) $ — $ (74 ) $ 10,904 (4) $ 10 $ — $ 10 $ 10 $ — $ 10 $ 48,415 (2) $ (270 ) $ — $ (270 ) $ (270 ) $ — $ (270 ) $ 84,251 (2) $ (1,326 ) $ — $ (1,326 ) $ (1,326 ) $ — $ (1,326 ) $ 7,119 (2) $ (35 ) $ — $ (35 ) $ (35 ) $ — $ (35 ) $ 175,000 (2) $ (881 ) $ — $ (881 ) $ (881 ) $ — $ (881 ) FOOTNOTES: (1) The all-in rates are equal to the sum of the Strike and Credit Spread detailed above. (2) Amounts related to interest rate swaps held by the Company, or its equity method investments, which are recorded at fair value and included in either other assets or other liabilities in the accompanying consolidated balance sheets. (3) The loans associated with these derivatives were repaid during the year ended December 31, 2015. Refer to Note 10. “Indebtedness” for additional information. (4) Amounts related to the interest rate caps held by the Company, or its equity method investments, which are recorded at fair value and included in either other assets or other liabilities in the accompanying consolidated balance sheets. Although the Company has determined that the majority of the inputs used to value its derivative financial instruments fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives 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 derivative financial instruments and has determined that the credit valuation adjustments on the overall valuation adjustments are not significant to the overall valuation of its derivative financial instruments. As a result, the Company determined that its derivative financial instruments 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 or its joint venture’s results of operations.

Equity

Equity	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Equity	13. Equity Redeemable Noncontrolling Interest: In connection with the Watercrest at Katy joint venture described in Note 3. “Acquisitions – Real Estate Under Development,” the Company’s joint venture partner acquired a 5% noncontrolling interest that includes a put option of its membership to the Company at any time commencing on the date on which Watercrest at Katy development opens to residents and concluding on the fifth anniversary thereof, when NOI is: (a) equal to or greater than the NOI threshold established in the joint venture agreement, and (b) has been equal to or greater than the NOI threshold established in the joint venture agreement for the three calendar months immediately preceding the calendar month during which the joint venture partner exercises the put option. The put option is redeemable for cash at a price equal to the appraised market value (less certain transaction-related costs) at the time the put option is exercised (“Put Price”). The Company’s maximum exposure, as a result of these redeemable equity securities, is limited to the Put Price multiplied by the joint venture partner’s 5% membership interest. Stockholders’ Equity: Public Offerings — The following table details the Company’s aggregate proceeds from its Offerings as of December 31, 2015 and December 31, 2014 (in millions): December 31, 2015 December 31, 2014 Subscriptions Reinvestment Plan Subscriptions Reinvestment Plan Proceeds Shares Proceeds Shares Proceeds Shares Proceeds Shares Initial Offering $ 1,271.4 125.1 $ 27.1 2.8 $ 1,114.2 110.2 $ 27.1 2.8 Follow-on Offering 394.6 37.4 36.8 3.7 ― ― ― ― $ 1,666.0 162.5 $ 63.9 6.5 $ 1,114.2 110.2 $ 27.1 2.8 Stock Issuance and Offering Costs – The Company incurred costs in connection with the offering and issuance of shares, including selling commissions, marketing support fees, filing fees, legal, accounting, printing and due diligence expense reimbursements, which are recorded as stock issuance and offering costs and deducted from stockholders’ equity. In accordance with the Company’s articles of incorporation, the total amount of selling commissions, marketing support fees, and other organizational and offering costs to be paid by the Company may not exceed 15% of the aggregate gross offering proceeds. Offering costs are generally funded by the Managing Dealer and subsequently reimbursed by the Company subject to this limitation. For the years ended December 31, 2015, 2014 and 2013, the Company incurred approximately $57.4 million, $59.8 million and $42.0 million, respectively, in stock issuance and other offering costs, as described in the discussion of selling commissions and marketing support fees and offering expenses in Note 11. “Related Party Arrangements.” Distributions — The following table details the Company’s historical share prices in its Offerings from inception through December 31, 2015, including the prices pursuant to the Reinvestment Plan and the Company’s monthly cash and stock distributions per share: Period Price per Share Reinvestment Plan Price per Share Monthly Cash Distributions Monthly Stock Distributions June 27, 2011 through December 10, 2013 $ 10.00 $ 9.50 $ 0.0333 0.0025 December 11, 2013 through November 3, 2014 $ 10.14 $ 9.64 $ 0.0338 0.0025 November 4, 2014 through December 31, 2015 (1) $ 10.58 $ 10.06 $ 0.0353 (2 ) FOOTNOTES: (1) The Company’s board of directors adopted an estimated NAV of $9.75 as of December 31, 2015. (2) The Company closed its Follow-On Offering on September 30, 2015 and discontinued its stock distributions concurrently. The monthly stock distributions were 0.0025 through September 30, 2015. 13. Equity (continued) For the years ended December 31, 2015, 2014 and 2013, the Company declared cash distributions of $63.2 million, $31.9 million and $14.2 million, respectively, of which $26.4 million, $14.2 million and $6.6 million, respectively, were paid in cash to stockholders and $36.8 million, $17.7 million and $7.6 million, respectively, were reinvested pursuant to the Reinvestment Plan. In addition, for the years ended December 31, 2015, 2014 and 2013, the Company declared and made stock distributions of approximately 3.2 million, 2.4 million and 1.1 million shares of common stock, respectively. The tax composition of the Company’s distributions declared for the years ended December 31, 2015, 2014 and 2013 were as follows: December 31, Distribution Type 2015 2014 2013 Taxable as ordinary income 37.8 % 30.8 % 0.0 % Taxable as capital gain 0.0 % 0.0 % 63.8 % Return of capital 62.2 % 69.2 % 36.2 % Redemptions — During the years ended December 31, 2015, 2014 and 2013, the Company received requests for the redemption of common stock of approximately 1.0 million, 0.3 million and 0.08 million shares, respectively, all of which were approved for redemption at an average price of $9.51, $9.24 and $9.25, respectively, and for a total of approximately $9.3 million, $3.0 million and $0.8, respectively. Other comprehensive loss — The following table reflects the effect of derivative financial instruments held by Company, or its equity method investments, and included in the consolidated statements of comprehensive loss for the years ended December 31, 2015 and 2014 (in thousands): Gain (loss) recognized in other comprehensive loss on derivative financial instrument Location of gain (loss) reclassified into earnings Loss reclassified from AOCI into earnings Years Ended December 31, Years Ended December 31, Derivative Financial Instrument 2015 2014 2015 2014 Interest rate swaps $ (4,881 ) $ (3,915 ) Interest expense and loan cost amortization $ (4,110 ) $ (98 ) Interest rate caps (262 ) ― Not applicable ― ― Reclassification of interest rate swaps upon derecognition 236 ― Interest expense and loan cost amortization (236 ) ― Reclassification of interest rate swaps due to ineffectiveness 33 ― Interest expense and loan cost amortization (33 ) ― Interest rate cap held by unconsolidated joint venture (9 ) 10 Not applicable ― ― Total $ (4,883 ) $ (3,905 ) $ (4,379 ) $ (98 )

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	14. Income Taxes For the years ended December 31, 2015, 2014 and 2013, the Company recorded net current tax expense and current deferred tax assets related to deferred income at its TRSs. The components of the income tax benefit (expense) for the years ended December 31, 2015, 2014 and 2013 were as follows (in thousands): Years Ended December 31, 2015 2014 2013 Current: Federal $ — $ — $ 13 State (378 ) (361 ) — Total current benefit (expense) (378 ) (361 ) 13 Deferred: Federal — — (25 ) State — — (6 ) Total deferred expense — — (31 ) Income tax expense $ (378 ) $ (361 ) $ (18 ) 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 years ended December 31, 2015 and 2014 are as follows: 2015 2014 Carryforwards of net operating loss $ 5,220 $ 2,361 Prepaid rent 619 437 Valuation allowance (5,839 ) (2,798 ) Net deferred tax assets $ — $ — A reconciliation of the income tax expense computed at the statutory federal tax rate on income before income taxes is as follows (in thousands): Years Ended December 31, 2015 2014 2013 Tax benefit computed at federal statutory rate $ 23,701 35.00 % $ 18,253 35.00 % $ 6,329 35.00 % Impact of REIT election (23,701 ) (35.00 )% (18,253 ) (35.00 )% (6,344 ) (35.08 )% State income tax expense (378 ) (0.56 )% (361 ) (0.69 )% (3 ) (0.02 )% Income tax expense $ (378 ) (0.56 )% $ (361 ) (0.69 )% $ (18 ) (0.10 )% The Company’s TRS entities had net operating loss carry-forwards for federal and state purposes of approximately $28.1 million as of year ended December 31, 2015 to offset future taxable income with approximately $0.8 million, $11.5 million and $15.7 million of the estimated net operating loss carry-forwards set to expire in 2033, 2034 and 2035, respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	15. 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. Refer to Note 4. “Real Estate Assets, net” for additional information on the remaining development budgets for the Company’s real estate under development. Refer to Note 8. “Ground and Air Rights Leases” for information on commitments under its ground and air rights lease agreements. Refer to Note 9. “Contingent Purchase Price Consideration” for information on potential contingent purchase price considerations related to property acquisitions. Refer to Note 11. “Related Party Arrangements” for information on contingent restricted stock shares due to the Company’s Advisor and Property Manager in connection with the Expense Support Agreements.

Concentration of Credit Risk

Concentration of Credit Risk	12 Months Ended
	Dec. 31, 2015
Risks And Uncertainties [Abstract]
Concentration of Credit Risk	16. Concentration of Credit Risk For the years ended December 31, 2015, 2014 and 2013 the Company had the following tenant and geographical concentrations that individually accounted for 10% or more of total revenues: Type of December 31, Concentration 2015 2014 2013 TSMM Management, LLC (1) Tenant 5.7 % 7.7 % 26.5 % State of Texas (2) Geographical 16.5 % 22.1 % 5.4 % FOOTNOTES: (1) Includes contractual rental income from operating leases, capital reserve income, straight-line rent adjustments, and amortization of lease intangibles. Failure of this tenant to pay contractual lease payments could significantly impact the Company’s results of operations and cash flow from operations, which in turn would impact its ability to pay debt service and make distributions to stockholders. (2) Includes rental income from operating leases, resident fees and services, and tenant reimbursement income. Adverse economic developments in this geographical area could significantly impact the Company’s results of operations and cash flow from operations, which in turn would impact its ability to pay debt service and make distributions to stockholders.

Selected Quarterly Financial Da

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data (Unaudited)	17. Selected Quarterly Financial Data (Unaudited) The following table presents selected unaudited quarterly financial data for the years ended December 31, 2015 and 2014 (in thousands, except per share data): 2015 Quarters First Second Third Fourth Full Year Total revenues $ 65,033 $ 67,476 $ 79,904 $ 88,112 $ 300,525 Operating loss (7,909 ) (3,650 ) (7,925 ) (4,824 ) (24,308 ) Net loss attributable to common stockholders (18,000 ) (13,410 ) (19,225 ) (17,420 ) (68,055 ) Weighted average number of shares outstanding (basic and diluted) (1) 131,880 146,257 162,730 173,766 153,804 Loss per share of common stock (basic and diluted) $ (0.14 ) $ (0.09 ) $ (0.12 ) $ (0.10 ) $ (0.44 ) 2014 Quarters First Second Third Fourth Full Year Total revenues $ 33,275 $ 42,464 $ 49,660 $ 55,685 $ 181,084 Operating loss (7,375 ) (3,381 ) (6,243 ) (6,179 ) (23,178 ) Net loss attributable to common stockholders (12,523 ) (12,303 ) (12,204 ) (15,481 ) (52,511 ) Weighted average number of shares outstanding (basic and diluted) (1) 67,526 77,426 89,597 107,705 85,710 Loss per share of common stock (basic and diluted) $ (0.19 ) $ (0.16 ) $ (0.14 ) $ (0.14 ) $ (0.61 ) FOOTNOTE: (1) For the purposes of determining the weighted average number of shares of common stock outstanding, stock distributions issued are treated as if they were outstanding for all periods presented.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	18. Subsequent Events In March 2016, the Company’s board of directors approved Amended and Restated Expense Support Agreements with the Advisor and Property Manager that are effective January 1, 2016 and change the period for determining and calculating the respective affiliate’s agreement to accept restricted stock in lieu of cash from each calendar quarter, on a non-cumulative basis, to each calendar year. In addition, the Company’s board of directors changed the declaration of cash distributions from monthly to quarterly beginning in the second quarter of 2016.

SCHEDULE II-Valuation and Quali

SCHEDULE II-Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2015
Valuation And Qualifying Accounts [Abstract]
SCHEDULE II-Valuation and Qualifying Accounts	CNL HEALTHCARE PROPERTIES, INC. AND SUBSIDIARIES SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS YEARS ENDED DECEMBER 31, 2015, 2014 AND 2013 (in thousands) Year Description Balance at Beginning of Year Charged to Costs and Expenses Charged to Other Accounts Balance at End of Year 2013 Deferred tax asset valuation allowance $ — $ (597) $ — $ (597) $ — $ (597) $ — $ (597) 2014 Deferred tax asset valuation allowance $ (597) $ (2,201) $ — $ (2,798) $ (597) $ (2,201) $ — $ (2,798) 2015 Deferred tax asset valuation allowance $ (2,798) $ (3,041) $ — $ (5,839) Allowance for doubtful accounts — (1,170) — (1,170) $ (2,798) $ (4,211) $ — $ (7,009)

SCHEDULE III-Real Estate and Ac

SCHEDULE III-Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2015
Real Estate And Accumulated Depreciation Disclosure [Abstract]
SCHEDULE III-Real Estate and Accumulated Depreciation	CNL HEALTHCARE PROPERTIES, INC. AND SUBSIDIARIES SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION AS OF DECEMBER 31, 2015 (in thousands) 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- brances Land & Land Improve- ments Building and Building Improve- ments Land & Land Improve- ments Building and Building Improve- ments Construc- tion in Process Land & Land Improve- ments Building and Building Improve- ments Construc- tion in Process Total Accumu- lated Depreci- ation Date of Construction Date Acquired Primrose Retirement Community of Casper Casper, Wyoming $ 12,031 $ 1,910 $ 16,310 $ — $ 9 $ — $ 1,910 $ 16,319 $ — $ 18,229 $ (1,653 ) 2004 2/16/2012 (1 ) Primrose Retirement Community of Grand Island Grand Island, Nebraska $ 8,487 $ 719 $ 12,140 $ 25 $ — $ — $ 744 $ 12,140 $ — $ 12,884 $ (1,284 ) 2005 2/16/2012 (1 ) Primrose Retirement Community of Mansfield Mansfield, Ohio $ 11,548 $ 650 $ 16,720 $ 228 $ 6 $ — $ 878 $ 16,726 $ — $ 17,604 $ (1,756 ) 2007 2/16/2012 (1 ) Primrose Retirement Community of Marion Marion, Ohio $ 9,579 $ 889 $ 16,305 $ — $ — $ — $ 889 $ 16,305 $ — $ 17,194 $ (1,705 ) 2006 2/16/2012 (1 ) Sweetwater Retirement Community Billings, Montana 10,403 $ 1,578 $ 14,205 $ 20 $ — $ — $ 1,598 $ 14,205 $ — $ 15,803 $ (1,449 ) 2006 2/16/2012 (1 ) HarborChase of Villages Crossing Lady Lake, Florida ("The Villages") $ — $ 2,165 $ — $ 986 $ 15,424 $ — $ 3,151 $ 15,424 $ — $ 18,575 $ (843 ) 2013 8/29/2012 (1 ) Dogwood Forest of Acworth Acworth, Georgia $ — $ 1,750 $ — $ 277 $ 15,994 $ — $ 2,027 $ 15,994 $ — $ 18,021 $ (617 ) (3) 12/18/2012 (1 ) Primrose Retirement Community Cottages Aberdeen, South Dakota $ — $ 311 $ 3,794 $ — $ — $ — $ 311 $ 3,794 $ — $ 4,105 $ (316 ) 2005 12/19/2012 (1 ) Primrose Retirement Community of Council Bluffs Council Bluffs, Iowa ("Omaha") $ — $ 1,144 $ 11,117 $ — $ — $ — $ 1,144 $ 11,117 $ — $ 12,261 $ (951 ) 2008 12/19/2012 (1 ) Primrose Retirement Community of Decatur Decatur, Illinois $ 10,558 $ 513 $ 16,706 $ — $ — $ — $ 513 $ 16,706 $ — $ 17,219 $ (1,358 ) 2009 12/19/2012 (1 ) Primrose Retirement Community of Lima Lima, Ohio $ — $ 944 $ 17,115 $ 8 $ 4 $ — $ 952 $ 17,119 $ — $ 18,071 $ (1,396 ) 2006 12/19/2012 (1 ) Primrose Retirement Community of Zanesville Zanesville, Ohio $ 11,915 $ 1,184 $ 17,292 $ — $ — $ — $ 1,184 $ 17,292 $ — $ 18,476 $ (1,411 ) 2008 12/19/2012 (1 ) Symphony Manor Baltimore, Maryland $ 12,131 $ 2,319 $ 19,444 $ — $ 78 $ — $ 2,319 $ 19,522 $ — $ 21,841 $ (1,564 ) 2011 12/21/2012 (1 ) Curry House Assisted Living & Memory Care Cadillac, Michigan $ 6,253 $ 995 $ 11,072 $ — $ — $ — $ 995 $ 11,072 $ — $ 12,067 $ (901 ) 1966 12/21/2012 (1 ) Tranquillity at Fredericktowne Frederick, Maryland $ 6,032 $ 808 $ 14,291 $ — $ 97 $ 235 $ 808 $ 14,388 $ 235 $ 15,431 $ (1,149 ) 2000 12/21/2012 (1 ) Brookridge Heights Assisted Living & Memory Care Marquette, Michigan $ 6,189 $ 595 $ 11,339 $ — $ 31 $ 94 $ 595 $ 11,370 $ 94 $ 12,059 $ (909 ) 1998 12/21/2012 (1 ) Woodholme Gardens Assisted Living & Memory Care Pikesville, Maryland ("Baltimore") $ 7,285 $ 1,603 $ 13,472 $ — $ — $ — $ 1,603 $ 13,472 $ — $ 15,075 $ (1,092 ) 2010 12/21/2012 (1 ) Batesville Healthcare Center Batesville, Arkansas $ — $ 397 $ 5,382 $ — $ — $ — $ 397 $ 5,382 $ — $ 5,779 $ (362 ) 1975 5/31/2013 (1 ) Broadway Healthcare Center West Memphis, Arkansas $ — $ 438 $ 10,560 $ — $ 77 $ — $ 438 $ 10,637 $ — $ 11,075 $ (721 ) 1994 5/31/2013 (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- brances Land & Land Improve- ments Building and Building Improve- ments Land & Land Improve- ments Building and Building Improve- ments Construc- tion in Process Land & Land Improve- ments Building and Building Improve- ments Construc- tion in Process Total Accumu- lated Depreci- ation Date of Construction Date Acquired Jonesboro Healthcare Center Jonesboro, Arkansas $ — $ 527 $ 13,493 $ — $ 5 $ — $ 527 $ 13,498 $ — $ 14,025 $ (908 ) 2012 5/31/2013 (1 ) Magnolia Healthcare Center Magnolia, Arkansas $ — $ 421 $ 10,454 $ — $ — $ — $ 421 $ 10,454 $ — $ 10,875 $ (716 ) 2009 5/31/2013 (1 ) Mine Creek Healthcare Center Nashville, Arkansas $ — $ 135 $ 2,942 $ 11 $ 10 $ — $ 146 $ 2,952 $ — $ 3,098 $ (209 ) 1978 5/31/2013 (1 ) Searcy Healthcare Center Searcy, Arkansas $ — $ 648 $ 6,017 $ — $ 50 $ — $ 648 $ 6,067 $ — $ 6,715 $ (420 ) 1973 5/31/2013 (1 ) LaPorte Cancer Center Westville, Indiana $ 8,013 $ 433 $ 10,846 $ — $ — $ — $ 433 $ 10,846 $ — $ 11,279 $ (750 ) 2010 6/14/2013 (1 ) Jefferson Medical Commons Jefferson City, Tennessee ("Knoxville") $ 7,719 $ 151 $ 10,236 $ — $ 162 $ — $ 151 $ 10,398 $ — $ 10,549 $ (681 ) 2001 7/10/2013 (1 ) Physicians Plaza A at North Knoxville Medical Center Powell, Tennessee ("Knoxville") $ 12,044 $ 262 $ 16,976 $ — $ — $ — $ 262 $ 16,976 $ — $ 17,238 $ (1,132 ) 2005 7/10/2013 (1 ) Physicians Plaza B at North Knoxville Medical Center Powell, Tennessee ("Knoxville") $ 14,487 $ 303 $ 18,754 $ — $ 318 $ — $ 303 $ 19,072 $ — $ 19,375 $ (1,255 ) 2008 7/10/2013 (1 ) Physicians Regional Medical Center - Central Wing Annex Knoxville, Tennessee $ 3,838 $ 73 $ 5,285 $ — $ — $ — $ 73 $ 5,285 $ — $ 5,358 $ (351 ) 2004 7/10/2013 (1 ) HarborChase of Jasper Jasper, Alabama $ — $ 355 $ 6,358 $ — $ 1 $ — $ 355 $ 6,359 $ — $ 6,714 $ (408 ) 1998 7/31/2013 (1 ) Chestnut Commons MOB Elyria, Ohio ("Cleveland") $ — $ 2,053 $ 15,650 $ — $ — $ — $ 2,053 $ 15,650 $ — $ 17,703 $ (1,077 ) 2008 8/16/2013 (1 ) Doctors Specialty Hospital Leawood, Kansas ("Kansas City") $ — $ 924 $ 5,771 $ 16 $ — $ — $ 940 $ 5,771 $ — $ 6,711 $ (385 ) 2001 8/16/2013 (1 ) Escondido Medical Arts Center Escondido, California ("San Diego") $ — $ 1,863 $ 12,199 $ — $ 23 $ — $ 1,863 $ 12,222 $ — $ 14,085 $ (754 ) 1994 8/16/2013 (1 ) John C. Lincoln Medical Office Plaza I Phoenix, Arizona $ — $ 233 $ 2,779 $ — $ 34 $ — $ 233 $ 2,813 $ — $ 3,046 $ (200 ) 1980 8/16/2013 (1 ) John C. Lincoln Medical Office Plaza II Phoenix, Arizona $ — $ 138 $ 1,908 $ — $ — $ — $ 138 $ 1,908 $ — $ 2,046 $ (138 ) 1984 8/16/2013 (1 ) North Mountain Medical Plaza Phoenix, Arizona $ — $ 297 $ 4,079 $ — $ — $ — $ 297 $ 4,079 $ — $ 4,376 $ (290 ) 1994 8/16/2013 (1 ) Raider Ranch Lubbock, Texas $ — $ 1,992 $ 48,818 $ — $ — $ — $ 1,992 $ 48,818 $ — $ 50,810 $ (2,999 ) 2009 8/29/2013 (1 ) The Club at Raider Ranch Development Lubbock, Texas $ 7,528 $ 3,000 $ — $ 170 $ 4,905 $ 7,824 $ 3,170 $ 4,905 $ 7,824 $ 15,899 $ — (3) 8/29/2013 (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- brances Land & Land Improve- ments Building and Building Improve- ments Land & Land Improve- ments Building and Building Improve- ments Construc- tion in Process Land & Land Improve- ments Building and Building Improve- ments Construc- tion in Process Total Accumu- lated Depreci- ation Date of Construction Date Acquired Town Village Oklahoma City, Oklahoma $ — $ 1,020 $ 19,847 $ — $ 45 $ — $ 1,020 $ 19,892 $ — $ 20,912 $ (1,205 ) 2004 8/29/2013 (1) Calvert Medical Arts Center Prince Frederick, Maryland ("Washington D.C.") $ 12,427 $ 20 $ 17,838 $ 1 $ 72 $ — $ 21 $ 17,910 $ — $ 17,931 $ (1,077 ) 2009 8/30/2013 (1) Calvert MOBs I, II & III Prince Frederick, Maryland ("Washington D.C.") $ 10,554 $ 51 $ 14,334 $ — $ 319 $ — $ 51 $ 14,653 $ — $ 14,704 $ (890 ) 1991/1999/2000 8/30/2013 (1) Dunkirk Medical Center Dunkirk, Maryland ("Washington D.C.") $ 2,970 $ 351 $ 2,991 $ — $ 10 $ — $ 351 $ 3,001 $ — $ 3,352 $ (235 ) 1997 8/30/2013 (1) Prestige Senior Living Beaverton Hills Beaverton, Oregon ("Portland") $ 9,235 $ 1,387 $ 10,324 $ — $ — $ — $ 1,387 $ 10,324 $ — $ 11,711 $ (579 ) 2000 12/2/2013 (1) Prestige Senior Living High Desert Bend, Oregon $ 7,988 $ 835 $ 11,252 $ — $ — $ — $ 835 $ 11,252 $ — $ 12,087 $ (656 ) 2003 12/2/2013 (1) MorningStar of Billings Billings, Montana $ 19,673 $ 4,067 $ 41,373 $ 5 $ 2 $ — $ 4,072 $ 41,375 $ — $ 45,447 $ (2,441 ) 2009 12/2/2013 (1) MorningStar of Boise Boise, Idaho $ 21,000 $ 1,663 $ 35,752 $ 12 $ — $ — $ 1,675 $ 35,752 $ — $ 37,427 $ (1,991 ) 2007 12/2/2013 (1) Prestige Senior Living Huntington Terrace Gresham, Oregon ("Portland") $ 10,229 $ 1,236 $ 12,083 $ — $ 6 $ — $ 1,236 $ 12,089 $ — $ 13,325 $ (688 ) 2000 12/2/2013 (1) MorningStar of Idaho Falls Idaho Falls, Idaho $ 17,966 $ 2,006 $ 40,397 $ 5 $ — $ — $ 2,011 $ 40,397 $ — $ 42,408 $ (2,294 ) 2009 12/2/2013 (1) Prestige Senior Living Arbor Place Medford, Oregon $ 8,224 $ 355 $ 14,083 $ — $ — $ — $ 355 $ 14,083 $ — $ 14,438 $ (782 ) 2003 12/2/2013 (1) Prestige Senior Living Orchard Heights Salem, Oregon $ 12,351 $ 545 $ 15,544 $ — $ 18 $ — $ 545 $ 15,562 $ — $ 16,107 $ (856 ) 2002 12/2/2013 (1) Prestige Senior Living Southern Hills Salem, Oregon $ 7,506 $ 653 $ 10,753 $ — $ — $ — $ 653 $ 10,753 $ — $ 11,406 $ (605 ) 2001 12/2/2013 (1) MorningStar of Sparks Sparks, Nevada ("Reno") $ 23,811 $ 3,986 $ 47,968 $ — $ 3 $ — $ 3,986 $ 47,971 $ — $ 51,957 $ (2,750 ) 2009 12/2/2013 (1) Prestige Senior Living Five Rivers Tillamook, Oregon $ 7,738 $ 1,298 $ 14,064 $ — $ 48 $ — $ 1,298 $ 14,112 $ — $ 15,410 $ (837 ) 2002 12/2/2013 (1) Prestige Senior Living Riverwood Tualatin, Oregon ("Portland") $ 4,489 $ 1,028 $ 7,429 $ — $ 37 $ — $ 1,028 $ 7,466 $ — $ 8,494 $ (434 ) 1999 12/2/2013 (1) Chula Vista Medical Arts Center - Plaza II Chula Vista, California ("San Diego") $ — $ 2,462 $ 7,453 $ — $ 331 $ — $ 2,462 $ 7,784 $ — $ 10,246 $ (418 ) 1985 12/23/2013 (1) Coral Springs MOB I Coral Springs, Florida $ — $ 2,614 $ 11,220 $ — $ — $ — $ 2,614 $ 11,220 $ — $ 13,834 $ (664 ) 2005 12/23/2013 (1) Coral Springs MOB II Coral Springs, Florida $ — $ 2,614 $ 12,130 $ 1 $ — $ — $ 2,615 $ 12,130 $ — $ 14,745 $ (663 ) 2008 12/23/2013 (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- brances Land & Land Improve- ments Building and Building Improve- ments Land & Land Improve- ments Building and Building Improve- ments Construc- tion in Process Land & Land Improve- ments Building and Building Improve- ments Construc- tion in Process Total Accumu- lated Depreci- ation Date of Construction Date Acquired Chula Vista Medical Arts Center - Plaza I Chula Vista, California ("San Diego") $ — $ 6,130 $ 10,293 $ 3 $ 200 $ — $ 6,133 $ 10,493 $ — $ 16,626 $ (543 ) 1975 1/21/2014 (1) Prestige Senior Living Auburn Meadows Auburn, Washington ("Seattle") $ 10,549 $ 2,537 $ 17,261 $ — $ — $ — $ 2,537 $ 17,261 $ — $ 19,798 $ (905 ) 2003/2010 2/3/2014 (1) Prestige Senior Living Bridgewood Vancouver, Washington ("Portland") $ 13,188 $ 1,603 $ 18,172 $ — $ — $ — $ 1,603 $ 18,172 $ — $ 19,775 $ (945 ) 2001 2/3/2014 (1) Prestige Senior Living Monticello Park Longview, Washington $ 18,401 $ 1,981 $ 23,056 $ — $ — $ — $ 1,981 $ 23,056 $ — $ 25,037 $ (1,183 ) 2001/2010 2/3/2014 (1) Prestige Senior Living Rosemont Yelm, Washington $ 9,503 $ 668 $ 14,564 $ — $ — $ — $ 668 $ 14,564 $ — $ 15,232 $ (739 ) 2004 2/3/2014 (1) Wellmore of Tega Cay Tega Cay, South Carolina ("Charlotte") $ 23,695 $ 2,445 $ — $ 2,733 $ 23,380 $ — $ 5,178 $ 23,380 $ — $ 28,558 $ (391 ) (3) 2/7/2014 (1) Isle at Cedar Ridge Cedar Park, Texas ("Austin") $ — $ 1,525 $ 16,277 $ — $ 10 $ — $ 1,525 $ 16,287 $ — $ 17,812 $ (834 ) 2011 2/28/2014 (1) Prestige Senior Living West Hills Corvallis, Oregon $ 8,815 $ 842 $ 12,603 $ — $ — $ — $ 842 $ 12,603 $ — $ 13,445 $ (644 ) 2002 3/3/2014 (1) HarborChase of Plainfield Plainfield, Illinois $ — $ 1,596 $ 21,832 $ — $ — $ — $ 1,596 $ 21,832 $ — $ 23,428 $ (1,036 ) 2010 3/28/2014 (1) Legacy Ranch Alzheimer's Special Care Center Midland, Texas $ — $ 917 $ 9,982 $ — $ — $ — $ 917 $ 9,982 $ — $ 10,899 $ (483 ) 2012 3/28/2014 (1) The Springs Alzheimer's Special Care Center San Angelo, Texas $ — $ 595 $ 9,658 $ — $ — $ — $ 595 $ 9,658 $ — $ 10,253 $ (467 ) 2012 3/28/2014 (1) Isle at Watercrest - Bryan Bryan, Texas $ — $ 714 $ 18,140 $ 4 $ 6 $ — $ 718 $ 18,146 $ — $ 18,864 $ (809 ) 2011 4/21/2014 (1) Watercrest at Bryan Bryan, Texas $ — $ 2,509 $ 22,441 $ 4 $ 14 $ — $ 2,513 $ 22,455 $ — $ 24,968 $ (1,084 ) 2009 4/21/2014 (1) Isle at Watercrest - Mansfield Mansfield, Texas ("Dallas/Fort Worth") $ — $ 997 $ 24,635 $ — $ — $ — $ 997 $ 24,635 $ — $ 25,632 $ (1,090 ) 2011 5/5/2014 (1) Memorial Hermann Orthopedic & Spine Hospital Bellaire, Texas ("Houston") $ 31,480 $ 3,867 $ 32,761 $ — $ — $ — $ 3,867 $ 32,761 $ — $ 36,628 $ (1,353 ) 2007 6/2/2014 (1) MHOSH MOB Bellaire, Texas ("Houston") $ 17,348 $ 3,738 $ 20,525 $ — $ 170 $ — $ 3,738 $ 20,695 $ — $ 24,433 $ (859 ) 2007 6/2/2014 (1) Watercrest at Katy Katy, Texas ("Houston") $ 10,632 $ 4,000 $ — $ — $ — $ 22,565 $ 4,000 $ — $ 22,565 $ 26,565 $ — (3) 6/27/2014 (1) Watercrest at Mansfield Mansfield, Texas ("Dallas/Fort Worth") $ 26,628 $ 2,191 $ 42,740 $ — $ 56 $ — $ 2,191 $ 42,796 $ — $ 44,987 $ (1,718 ) 2010 6/30/2014 (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 Encum- Land & Land Improve- Building and Building Improve- Land & Land Improve- Building and Building Improve- Construc- tion in Land & Land Improve- Building and Building Improve- Construc- tion in Accumu- lated Depreci- Date of Date Property/Location brances ments ments ments ments Process ments ments Process Total ation Construction Acquired is computed HarborChase of Shorewood Shorewood, Wisconsin ("Milwaukee") $ 12,469 $ 2,200 $ — $ 294 $ 19,805 $ — $ 2,494 $ 19,805 $ — $ 22,299 $ (44 ) (3) 7/8/2014 (1) Oklahoma City Inpatient Rehabilitation Hospital Oklahoma City, Oklahoma $ 16,203 $ 3,341 $ 19,249 $ — $ — $ — $ 3,341 $ 19,249 $ — $ 22,590 $ (814 ) 2012 7/15/2014 (1) Las Vegas Inpatient Rehabilitation Hospital Las Vegas, Nevada $ 14,163 $ 2,650 $ 16,979 $ — $ — $ — $ 2,650 $ 16,979 $ — $ 19,629 $ (726 ) 2007 7/15/2014 (1) South Bend Inpatient Rehabilitation Hospital Mishawaka, Indiana ("South Bend") $ 12,860 $ 2,339 $ 16,239 $ — $ — $ — $ 2,339 $ 16,239 $ — $ 18,578 $ (703 ) 2009 7/15/2014 (1) Beaumont Specialty Hospital Beaumont, Texas ("Houston") $ 21,347 $ 2,749 $ 28,863 $ — $ — $ — $ 2,749 $ 28,863 $ — $ 31,612 $ (1,102 ) 2013 8/15/2014 (1) Hurst Specialty Hospital Hurst, Texas ("Dallas/Fort Worth") $ 18,722 $ 2,510 $ 24,091 $ — $ — $ — $ 2,510 $ 24,091 $ — $ 26,601 $ (921 ) 2004/2012 8/15/2014 (1) Claremont Medical Office Claremont, CA ("Los Angeles") $ 12,683 $ 6,324 $ 13,533 $ — $ — $ — $ 6,324 $ 13,533 $ — $ 19,857 $ (532 ) 2008 8/29/2014 (1) Lee Hughes MOB Glendale, California ("Los Angeles") $ 18,632 $ 69 $ 22,967 $ — $ 17 $ — $ 69 $ 22,984 $ — $ 23,053 $ (743 ) 2008 9/29/2014 (1) Newburyport Medical Center Newburyport, Massachusetts ("Boston") $ — $ 2,614 $ 12,135 $ — $ — $ — $ 2,614 $ 12,135 $ — $ 14,749 $ (432 ) 2008 10/31/2014 (1) Northwest Medical Park Building Margate, Florida ("Fort Lauderdale") $ 7,008 $ 610 $ 6,170 $ — $ — $ — $ 610 $ 6,170 $ — $ 6,780 $ (232 ) 2004 10/31/2014 (1) Fairfield Village of Layton Layton, Utah ("Salt Lake City") $ — $ 5,217 $ 54,167 $ — $ 5 $ — $ 5,217 $ 54,172 $ — $ 59,389 $ (1,667 ) 2010 11/20/2014 (1) ProMed Building I Yuma, Arizona $ 7,050 $ 2,486 $ 6,728 $ — $ — $ — $ 2,486 $ 6,728 $ — $ 9,214 $ (201 ) 2006 12/19/2014 (1) Midtown Medical Plaza Charlotte, North Carolina $ 29,378 $ 10 $ 51,237 $ — $ 3 $ — $ 10 $ 51,240 $ — $ 51,250 $ (1,314 ) 1994 12/22/2014 (1) Presbyterian Medical Tower Charlotte, North Carolina $ 19,528 $ 40 $ 32,345 $ — $ — $ — $ 40 $ 32,345 $ — $ 32,385 $ (832 ) 1989 12/22/2014 (1) Metroview Professional Building Charlotte, North Carolina $ 9,276 $ 11 $ 15,910 $ — $ — $ — $ 11 $ 15,910 $ — $ 15,921 $ (409 ) 1971 12/22/2014 (1) Physicians Plaza Huntersville Huntersville, North Carolina ("Charlotte") $ 16,306 $ 520 $ 26,134 $ — $ — $ — $ 520 $ 26,134 $ — $ 26,654 $ (705 ) 2004 12/22/2014 (1) Matthews Medical Office Building Matthews, North Carolina ("Charlotte") $ 11,441 $ 350 $ 19,624 $ — $ — $ — $ 350 $ 19,624 $ — $ 19,974 $ (527 ) 1994 12/22/2014 (1) Outpatient Care Center Clyde, North Carolina ("Asheville") $ 10,690 $ 1,169 $ 12,079 $ — $ — $ — $ 1,169 $ 12,079 $ — $ 13,248 $ (317 ) 2012 12/22/2014 (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 Encum- Land & Land Improve- Building and Building Improve- Land & Land Improve- Building and Building Improve- Construc- tion in Land & Land Improve- Building and Building Improve- Construc- tion in Accumu- lated Depreci- Date of Date Property/Location brances ments ments ments ments Process ments ments Process Total ation Construction Acquired is computed 330 Physicians Center Rome, Georgia $ 19,901 $ 12 $ 26,868 $ — $ — $ — $ 12 $ 26,868 $ — $ 26,880 $ (690 ) 1987/2005 12/22/2014 (1) Spivey Station Physicians Center Atlanta, Georgia $ 9,735 $ 1,026 $ 12,246 $ — $ — $ — $ 1,026 $ 12,246 $ — $ 13,272 $ (345 ) 2007 12/22/2014 (1) Spivey Station ASC Building Atlanta, Georgia $ 12,448 $ 929 $ 13,769 $ — $ — $ — $ 929 $ 13,769 $ — $ 14,698 $ (381 ) 2009 12/22/2014 (1) Novi Orthopaedic Center Novi, Michigan $ 19,825 $ 1,314 $ 26,239 $ — $ — $ — $ 1,314 $ 26,239 $ — $ 27,553 $ (697 ) 2008 2/13/2015 (1) UT Cancer Institute Building Knoxville, Tennessee $ 21,503 $ 421 $ 27,621 $ — $ 3 $ — $ 421 $ 27,624 $ — $ 28,045 $ (614 ) 2012 2/20/2015 (1) Fieldstone Memory Care Yakima, Washington $ — $ 1,297 $ 9,965 $ — $ — $ — $ 1,297 $ 9,965 $ — $ 11,262 $ (212 ) 2014 3/31/2015 (1) Bend Memorial Clinic MOB Bend, Oregon $ — $ 9,069 $ 19,867 $ — $ — $ — $ 9,069 $ 19,867 $ — $ 28,936 $ (410 ) 1976 5/11/2015 (1) Stoneterra Medical Plaza San Antonio, Texas $ — $ 2,864 $ 10,412 $ — $ — $ — $ 2,864 $ 10,412 $ — $ 13,276 $ (175 ) 2006 5/29/2015 (1) Primrose Retirement Center of Anderson Anderson, Indiana ("Muncie") $ — $ 1,342 $ 19,083 $ — $ — $ — $ 1,342 $ 19,083 $ — $ 20,425 $ (314 ) 2008 5/29/2015 (1) Primrose Retirement Center of Lancaster Lancaster, Ohio ("Columbus") $ — $ 2,840 $ 21,884 $ — $ — $ — $ 2,840 $ 21,884 $ — $ 24,724 $ (397 ) 2007 5/29/2015 (1) Primrose Retirement Center of Wausau Wausau, Wisconsin ("Green Bay") $ — $ 1,089 $ 18,653 $ — $ — $ — $ 1,089 $ 18,653 $ — $ 19,742 $ (295 ) 2008 5/29/2015 (1) Triangle Orthopaedic Durham Durham, North Carolina $ — $ 3,191 $ 14,523 $ — $ — $ — $ 3,191 $ 14,523 $ — $ 17,714 $ (210 ) 2000 6/29/2015 (1) Triangle Orthopaedic Roxboro Roxboro, North Carolina $ — $ 287 $ 1,406 $ — $ — $ — $ 287 $ 1,406 $ — $ 1,693 $ (22 ) 2000 6/29/2015 (1) Triangle Orthopaedic Chapel Hill Chapel Hill, North Carolina $ — $ 360 $ 2,306 $ — $ — $ — $ 360 $ 2,306 $ — $ 2,666 $ (33 ) 2011 6/29/2015 (1) Triangle Orthopaedic Oxford Oxford, North Carolina $ — $ 658 $ 3,074 $ — $ — $ — $ 658 $ 3,074 $ — $ 3,732 $ (48 ) 2011 6/29/2015 (1) North Carolina Specialty Hospital Durham, North Carolina $ — $ 3,173 $ 22,762 $ — $ — $ — $ 3,173 $ 22,762 $ — $ 25,935 $ (315 ) 2004 6/29/2015 (1) Doctor's Park Building B Chula Vista, California ("San Diego") $ — $ 1,161 $ 2,919 $ — $ — $ — $ 1,161 $ 2,919 $ — $ 4,080 $ (43 ) 2008 6/30/2015 (1) Doctor's Park Building C Chula Vista, California ("San Diego") $ — $ 2,323 $ 6,351 $ — $ — $ — $ 2,323 $ 6,351 $ — $ 8,674 $ (92 ) 2006 6/30/2015 (1) Superior Residences of Panama City Panama City Beach, Florida $ — $ 2,099 $ 19,367 $ — $ — $ — $ 2,099 $ 19,367 $ — $ 21,466 $ (273 ) 2015 7/15/2015 (1) 540 New Waverly Place Cary, North Carolina ("Raleigh") $ 7,048 $ 2,476 $ 11,009 $ — $ — $ — $ 2,476 $ 11,009 $ — $ 13,485 $ (136 ) 2007 7/20/2015 (1) MedHelp Birmingham, Alabama $ — $ 2,270 $ 10,359 $ — $ — $ — $ 2,270 $ 10,359 $ — $ 12,629 $ (119 ) 2015 7/31/2015 (1) Patriot Professional Center Frederick, Maryland ("Baltimore") $ — $ 3,912 $ 11,781 $ — $ — $ — $ 3,912 $ 11,781 $ — $ 15,693 $ (146 ) 2006/2014 7/31/2015 (1) Liberty Professional Center Frederick, Maryland ("Baltimore") $ — $ 1,977 $ 4,462 $ — $ — $ — $ 1,977 $ 4,462 $ — $ 6,439 $ (54 ) 1979/2013 7/31/2015 (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 Encum- Land & Land Improve- Building and Building Improve- Land & Land Improve- Building and Building Improve- Construc- tion in Land & Land Improve- Building and Building Improve- Construc- tion in Accumu- lated Depreci- Date of Date Property/Location brances ments ments ments ments Process ments ments Process Total ation Construction Acquired is computed The Hampton at Meadows Place Meadows Place, Texas ("Houston") $ — $ 715 $ 24,281 $ — $ — $ — $ 715 $ 24,281 $ — $ 24,996 $ (263 ) 2007/2013/2014 7/31/2015 (1) The Pavilion at Great Hills Austin, Texas $ — $ 1,783 $ 29,318 $ — $ — $ — $ 1,783 $ 29,318 $ — $ 31,101 $ (321 ) 2010 7/31/2015 (1) The Beacon at Gulf Breeze Gulf Breeze, Florida ("Pensacola") $ — $ 824 $ 24,106 $ — $ — $ — $ 824 $ 24,106 $ — $ 24,930 $ (273 ) 2008 7/31/2015 (1) Parc at Piedmont Marietta, Georgia ("Atlanta") $ — $ 3,529 $ 43,080 $ — $ — $ — $ 3,529 $ 43,080 $ — $ 46,609 $ (489 ) 2001/2011 7/31/2015 (1) Parc at Duluth Duluth, Georgia ("Atlanta") $ — $ 5,951 $ 42,458 $ — $ — $ — $ 5,951 $ 42,458 $ — $ 48,409 $ (481 ) 2003/2012 7/31/2015 (1) Broadway Medical Plaza 1 Columbia, Missouri $ — $ 437 $ 9,281 $ — $ — $ — $ 437 $ 9,281 $ — $ 9,718 $ (89 ) 1994 8/21/2015 (1) Broadway Medical Plaza 2 Columbia, Missouri $ — $ 386 $ 12,460 $ — $ — $ — $ 386 $ 12,460 $ — $ 12,846 $ (115 ) 1999 8/21/2015 (1) Broadway Medical Plaza 4 Columbia, Missouri $ — $ 170 $ 12,118 $ — $ — $ — $ 170 $ 12,118 $ — $ 12,288 $ (107 ) 2007 8/21/2015 (1) Waterstone Greenville, South Carolina $ — $ 2,253 $ — $ — $ — $ 4,932 $ 2,253 $ — $ 4,932 $ 7,185 $ — (3) 8/31/2015 (1) Welbrook Senior Living Grand Junction Grand Junction, Colorado $ — $ 1,050 $ — $ — $ — $ 2,148 $ 1,050 $ — $ 2,148 $ 3,198 $ — (3) 9/4/2015 (1) Wellmore of Lexington Lexington, South Carolina ("Columbia") $ — $ 2,300 $ — $ — $ — $ 6,423 $ 2,300 $ — $ 6,423 $ 8,723 $ — (3) 9/14/2015 (1) Palmilla Senior Living Albuquerque, New Mexico $ — $ 4,701 $ 38,321 $ — $ — $ — $ 4,701 $ 38,321 $ — $ 43,022 $ (261 ) 2013 9/30/2015 (1) Cedar Lake Assisted Living and Memory Care Lake Zurich, Illinois ("Chicago") $ — $ 2,412 $ 25,126 $ — $ — $ — $ 2,412 $ 25,126 $ — $ 27,538 $ (171 ) 2014 9/30/2015 (1) Fieldstone at Pear Orchard Yakima Washington $ — $ 1,035 $ — $ — $ — $ 1,571 $ 1,035 $ — $ 1,571 $ 2,606 $ — (3) 10/12/2015 (1) The Shores at Lake Phalen Maplewood, Minnesota ("St. Paul") $ — $ 2,724 $ 25,093 $ — $ — $ — $ 2,724 $ 25,093 $ — $ 27,817 $ (113 ) 2012 11/10/2015 (1) Dogwood Forest of Grayson Grayson, Georgia $ — $ 1,788 $ — $ — $ — $ 2,185 $ 1,788 $ — $ 2,185 $ 3,973 $ — (3) 11/24/2015 (1) Center One Jacksonville, Florida $ — $ 8,294 $ 21,756 $ — $ — $ — $ 8,294 $ 21,756 $ — $ 30,050 $ — 2006 11/30/2015 (1) Red Bank Professional Office Building Cincinnati, Ohio $ — $ 1,721 $ 7,721 $ — $ — $ — $ 1,721 $ 7,721 $ — $ 9,442 $ (18 ) 2001 12/14/2015 (1) Park Place Senior Living at WingHaven O'Fallon, Missouri ("St. Louis") $ — $ 1,283 $ 48,221 $ — $ — $ — $ 1,283 $ 48,221 $ — $ 49,504 $ — 2006/2014 12/17/2015 (1) Siena Pavilion IV Henderson, Nevada ("Las Vegas") $ — $ 1,454 $ 4,786 $ — $ — $ — $ 1,454 $ 4,786 $ — $ 6,240 $ — 2002 12/18/2015 (1) Siena Pavilion V Henderson, Nevada ("Las Vegas") $ — $ 3,944 $ 20,355 $ — $ — $ — $ 3,944 $ 20,355 $ — $ 24,299 $ — 2003 12/18/2015 (1) Siena Pavilion VI Henderson, Nevada ("Las Vegas") $ — $ 2,599 $ 18,725 $ — $ — $ — $ 2,599 $ 18,725 $ — $ 21,324 $ — 2005 12/18/2015 (1) Hearthside Senior Living of Collierville Collierville, Tennessee ("Memphis") $ — $ 1,905 $ 13,379 $ — $ — $ — $ 1,905 $ 13,379 $ — $ 15,284 $ — 2014 12/29/2015 (1) Cobalt Rehabilitation Hospital Surprise Surprise, Arizona ("Phoenix") $ — $ 2,464 $ 17,983 $ — $ — $ — $ 2,464 $ 17,983 $ — $ 20,447 $ — 2015 12/30/2015 (1) $ 840,656 $ 238,787 $ 2,215,548 $ 4,803 $ 81,788 $ 47,977 $ 243,590 $ 2,297,336 $ 47,977 $ 2,588,903 $ (90,201 ) Transactions in real estate and accumulated depreciation as of December 31, 2015 are as follows: Balance December 31, 2011 $ — Balance December 31, 2011 $ — 2012 Acquisitions 231,398 2012 Depreciation (1,702) 2012 Improvements 4,547 Balance December 31, 2012 (1,702) Balance December 31, 2012 235,945 2013 Depreciation (9,309) 2013 Acquisitions 598,176 Balance December 31, 2013 (11,011) 2013 Improvements 25,756 2014 Depreciation (29,456) Balance December 31, 2013 859,877 Balance December 31, 2014 (40,467) 2014 Acquisitions 822,305 2015 Depreciation (49,734) 2014 Improvements 39,247 Balance December 31, 2015 $ (90,201) Balance December 31, 2014 1,721,429 2015 Acquisitions 802,456 2015 Improvements 65,018 Balance December 31, 2015 $ 2,588,903 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 $2.9 billion. (3) Land and land improvements, initial cost, include the purchase price of land under development which is included as a component of construction in process in the consolidated balance sheets. As of December 31, 2015 these properties were under development; therefore, depreciation is not applicable.

SCHEDULE IV-Mortgage Loans on R

SCHEDULE IV-Mortgage Loans on Real Estate	12 Months Ended
	Dec. 31, 2015
Mortgage Loans On Real Estate [Abstract]
SCHEDULE IV-Mortgage Loans on Real Estate	CNL HEALTHCARE PROPERTIES, INC. AND SUBSIDIARIES SCHEDULE IV – MORTGAGE LOANS ON REAL ESTATE YEARS ENDED DECEMBER 31, 2015, 2014 AND 2013 (in thousands) The following is a reconciliation of mortgages and other notes receivable on real estate for the years ended December 31, 2015, 2014 and 2013 (in thousands): 2015 2014 2013 Balance at beginning of year $ — $ 3,949 $ — Additions during period: New mortgage loans and additional advances — 2,065 3,741 Accrued and deferred interest — 288 124 Loan origination costs, net — — 84 Deductions during period: Collection of principal — (6,302) — Balance at end of year $ — $ — $ 3,949

Summary of Significant Accoun30

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
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 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. 2. Summary of Significant Accounting Policies (continued) In accordance with the guidance for the consolidation of VIEs, the Company analyzes its variable interests, including loans, leases, guarantees, and equity investments, to determine if the entity in which it has a variable interest is a variable interest entity (“VIE”). The Company’s analysis includes both quantitative and qualitative reviews. The Company bases its quantitative analysis on the forecasted cash flows of the entity, and its qualitative analysis on its review of the design of the entity, its organizational structure including decision-making ability and financial agreements. The Company also uses its quantitative and qualitative analyses to determine if it is the primary beneficiary of the VIE, and if such determination is made, it includes the accounts of the VIE in its consolidated financial statements.
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 allocation of purchase price, the analysis of real estate impairments, the valuation of contingent assets and liabilities, and the valuation of restricted stock shares issued to the Advisor or Property Manager. Accordingly, actual results could differ from those estimates.
Allocation of Purchase Price for Real Estate Acquisitions	Allocation of Purchase Price for Real Estate Acquisitions Upon acquisition of properties, the Company estimates the fair value of acquired tangible assets (consisting of land, building and improvements, tenant improvements and equipment), intangible assets (consisting of in-place leases and above- or below-market leases), liabilities assumed and any contingent assets or liabilities in order to allocate the purchase price. In estimating the fair value of the assets acquired and liabilities assumed, the Company considers information obtained about each property as a result of its due diligence and utilizes various valuation methods, such as estimated cash flow projections using appropriate discount and capitalization rates, estimates of replacement costs net of depreciation and available market information. The fair value of the tangible assets of an acquired leased property is determined by valuing the property as if it were vacant, and the “as-if-vacant” value is then allocated to land and building based on the relative fair values of these assets. The purchase price is allocated to in-place lease intangibles based on management’s evaluation of the specific characteristics of the acquired lease(s). Factors considered include estimates of carrying costs during hypothetical expected lease-up periods, including estimates of lost rental income during the expected lease-up periods, and costs to execute similar leases such as leasing commissions, legal and other related expenses. Above- and below-market lease intangibles are recorded based on the present value of the difference between the contractual rents to be paid pursuant to the lease and management’s estimate of the fair market lease rates for each in-place lease and may include assumptions for lease renewals of below-market leases. The Company also enters into contingent purchase price consideration arrangements in connection with acquisitions, which result in either an asset or liability being recognized as part of the purchase price allocation. In calculating the estimated fair value of contingent purchase price consideration arrangements, the Company considers information obtained during the due diligence and budget process as well as discount rates to determine the fair value. The Company evaluates the fair value of the arrangements at each reporting period and records any adjustments to the fair value as a component of operating income (expense) in the consolidated statement of operations. Refer to Note 9. “Contingent Purchase Price Consideration” for additional information on fair value measurements of contingent purchase price consideration arrangements.
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, or the remaining life of the ground lease. 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 indicators, including property operating performance and general market conditions, that the value of the real estate properties (including any related amortizable intangible assets or liabilities) may be impaired. 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 of the asset group. 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 fair value of the investment is less than the carrying amount and the decline in value is determined to be other than a temporary decline.
Real Estate Under Development	Real Estate Under Development — The Company records real estate under development at cost, including acquisition fees and closing costs incurred. The cost of the real estate under development includes direct and indirect costs of development, including interest and miscellaneous costs incurred during the development period until the project is substantially complete and available for occupancy. In addition, during active development, all operating expenses related to the project, including property expenses such as real estate taxes and insurance, are capitalized rather than expensed and incidental revenue is recorded as a reduction of capitalized development costs. Preleasing costs are expensed as incurred.
Capitalized Interest	Capitalized Interest — Interest and loan cost amortization attributable to funds used to finance real estate under development is capitalized as additional costs of development. The Company capitalizes interest at the weighted average interest rate of the Company’s outstanding indebtedness and based on its weighted average expenditures for the period. Capitalization of interest on a specific project ceases when the project is substantially complete and ready for occupancy. During the years ended December 31, 2015, 2014 and 2013, the Company incurred interest expense and loan cost amortization of approximately $45.3 million, $31.5 million and $11.5 million, respectively, of which approximately $2.3 million, $1.0 million and $0.7 million, respectively, was capitalized according to this policy.
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 during the year. As of December 31, 2015, 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 — Certain amounts of cash are restricted to fund capital expenditures for the Company’s real estate investment properties or represent certain tenant security deposits.
Loan Costs	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, 2015 and 2014, the accumulated amortization of loan costs was approximately $7.8 million and $4.3 million, respectively.
Leasing Costs	Leasing Costs — The Company defers costs that it incurs to obtain new tenant leases or extend existing tenant leases and classifies these costs as other assets, net of accumulated amortization. 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 the unamortized deferred lease costs not deemed to be recoverable.
Investments in Unconsolidated Entities	Investments in Unconsolidated Entities — The Company accounts for its investments in unconsolidated joint ventures under the equity method of accounting as the Company exercises significant influence, but does not maintain a controlling financial interest over these entities. These investments are recorded initially at cost and subsequently adjusted for cash contributions, distributions and equity in earnings (loss) of the unconsolidated entities. Based on the respective venture structures and preferences the Company receives on distributions and liquidation, the Company records its equity in earnings of the unconsolidated entities under the HLBV method of accounting. Under this method, the Company recognizes income or loss in each period as if the net book value of the assets in the ventures were hypothetically liquidated at the end of each reporting period pursuant to the provisions of the joint venture agreements. In any given period, the Company could be recording more or less income than actual cash distributions received and more or less than what the Company may receive in the event of an actual liquidation. The Company’s investment in unconsolidated entities is accounted for as an asset acquisition in which acquisition fees and expenses are capitalized as part of the basis in the investment in unconsolidated entities. The acquisition fees and expenses create an outside basis difference that are allocated to the assets of the investee and, if assigned to depreciable or amortizable assets, the basis differences are then amortized as a component of equity in earnings (loss) of unconsolidated entities.
Revenue Recognition	Revenue Recognition — Rental income from operating leases is recorded on the straight-line basis over the terms of the leases. 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 that they are earned and are included in rental income from operating leases in the accompanying consolidated statement 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 consist of monthly services, which include rent, assistance and other related services. Agreements with residents are generally for an initial term of three months and are cancelable by the residents with 30-days notice. Tenant reimbursement income represents amounts tenants are required to reimburse the Company for expenses incurred on behalf of the tenants, in accordance with the terms of the leases and are recognized in the period in which the related reimbursable expenses are incurred. Interest income is recognized on an accrual basis when earned. Any deferred portion of contractual interest is recognized on a straight-line basis over the term of the corresponding note receivable. Loan origination fees incurred are recognized as a reduction to interest income over the term of the note receivable.
Reclassifications	Reclassifications — Certain amounts in the prior year’s consolidated balance sheet have been reclassified to conform to the current year’s presentation with no effect on the other previously reported consolidated financial statements.
Derivative Financial Instruments	Derivative Financial Instruments — The Company and certain unconsolidated equity method investments held by the Company use 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 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. Any ineffective portions of cash flow hedges are reported in the accompanying consolidated statements of operations as derivative gain (loss). 2. Summary of Significant Accounting Policies (continued) Realized and unrealized gain (loss) on derivative financial instruments designated as cash flow hedges that are entered into by the Company’s equity method investments 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 and ineffective portions being included in equity in earnings (loss) of unconsolidated entities 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.
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.
Redemptions	Redemptions — Under the Company’s stock redemption plan, a stockholder’s shares are deemed to have been redeemed as of the date that the Company accepts the stockholder’s request for redemption. From and after such date, the stockholder by virtue of such redemption is no longer entitled to any rights as a stockholder in the Company. Shares redeemed are retired and not available for reissue.
Net Loss per Share	Net Loss per Share — Net 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. For the purposes of determining the weighted average number of shares of common stock outstanding, stock distributions are treated as if they were issued and outstanding for the full periods presented. Therefore, the weighted average number of shares outstanding for the years ended December 31, 2015, 2014 and 2013 have been revised to include stock distributions declared and issued as if they were outstanding as of the beginning of each period presented.
Shares Based Payments to Non-Employees	Shares Based Payments to Non-Employees — In connection with the Expense Support Agreements described in Note 11. “Related Party Arrangements,” the Company may issue Restricted Stock to the Advisor or the Property Manager on a quarterly basis in exchange for providing expense support in the event that cash distributions declared exceed modified funds from operations as defined by the Expense Support Agreements. Refer to Note 18. “Subsequent Events” for additional information. 2. Summary of Significant Accounting Policies (continued) The Restricted Stock is forfeited if shareholders 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 or the Property Manager 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 or the Property Manager 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 Agreements, the Advisor or the Property Manager 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 Articles) and receive all dividends and other distributions paid with respect to such shares. All dividends or other distributions actually paid to the Advisor or the Property Manager in connection with the Restricted Stock shall vest immediately and will not be subject to forfeiture. The Company recognizes expense related to the dividends 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 and by tenant or 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 — The Company classifies redeemable equity securities in accordance with Accounting Standard Update (“ASU”) No. 2009-04, “Liabilities (Topic 480): Accounting for Redeemable Equity Instruments,” which requires that equity securities redeemable at the option of the holder be classified outside of permanent stockholders’ equity. The Company classifies redeemable equity securities as redeemable noncontrolling interest within the accompanying consolidated balance sheets and consolidated statements of stockholders’ equity and redeemable noncontrolling interest. The Company evaluates the probability that these equity securities will become redeemable at each reporting period and, if determined probable, the Company measures the redemption value and records an adjustment to the carrying value of the equity securities as a component of redeemable noncontrolling interest. As of December 31, 2015, the amount payable, if any, relating to these equity securities is not probable and is dependent on the future results of operations from real estate currently under development.
Promoted Interest	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. As of December 31, 2015, the amounts payable, if any, relating to these promoted interests is not probable and is dependent on the future results of operations from either completed developments stabilizing or current real estate under development.
Acquisition Fees and Expenses	Acquisition Fees and Expenses — Acquisition fees, including investment services fees and expenses associated with transactions deemed to be business combinations (including investment transactions that are no longer under consideration), are expensed as incurred. Acquisition fees and expenses associated with making loans and with transactions deemed to be an asset purchase are capitalized. The following table summarizes the Company’s acquisition fees and expenses for the years ended December 31, 2015, 2014 and 2013 (in millions): December 31, Distribution Type 2015 2014 2013 Capitalized as real estate under development $ 4.2 $ 3.4 $ 0.1 Capitalized as investment in unconsolidated entities ― ― 0.5 Capitalized as origination costs to the note receivable ― ― 0.1 Acquisition costs expensed 21.5 23.9 18.8 Total acquisition costs incurred $ 25.7 $ 27.3 $ 19.5
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 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 quality 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 Internal Revenue Service 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 may also be subject to foreign taxes on investments outside of the U.S. based on the jurisdictions in which the Company conducts business. The Company has and will continue to form subsidiaries which may elect 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. Prior to the Company’s REIT election, it was subject to corporate federal and state income taxes. Prior to and including the year ended December 31, 2011, the Company did not have earnings. The tax years from 2011 to 2015 remain subject to examination by taxing authorities throughout the U.S. The Company analyzed its material tax positions and determined that it has not taken any uncertain tax positions.
Adopted Accounting Pronouncements	Adopted Accounting Pronouncements — In April 2014, the FASB issued ASU No. 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” The ASU changes the criteria for reporting discontinued operations where only disposals representing a strategic shift that has (or will have) a major effect on an entity’s operations and financial results, such as a major line of business or geographical area, should be presented as a discontinued operation. The ASU is effective prospectively for all disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014 with early adoption permitted. Effective January 1, 2015, the Company adopted this ASU and determined that the amendments will impact the Company’s determinations of which future property disposals qualify as discontinued operations and will require additional disclosure about discontinued operations for future property disposals.
Recent Accounting Pronouncements	Recent Accounting Pronouncements — In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers,” as a new ASC topic (Topic 606). The core principle of this ASU is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU further provides guidance for any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets, unless those contracts are within the scope of other standards (for example, lease contracts). The FASB subsequently issued ASU 2015-14 to defer the effective date of ASU 2014-09 until annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, with earlier adoption permitted. ASU 2014-09 can be adopted using one of two retrospective transition methods: 1) retrospectively to each prior reporting period presented or 2) as a cumulative-effect adjustment as of the date of adoption. The Company has not yet selected a transition method and is currently evaluating the impact of ASU 2014-09; however, its adoption could potentially have a significant effect on the Company’s consolidated financial position, results of operations or cash flows. In February 2015, the FASB issued ASU 2015-02, “Amendments to the Consolidation Analysis,” which requires amendments to both the variable interest entity and voting models. The amendments (i) modify the identification of variable interests (fees paid to a decision maker or service provider), the VIE characteristics for a limited partnership or similar entity and primary beneficiary determination under the VIE model, and (ii) eliminate the presumption within the current voting model that a general partner controls a limited partnership or similar entity. The new guidance is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2015 with early adoption permitted. The amendments may be applied using either a modified retrospective or full retrospective approach. The Company adopted ASU 2015-02 on January 1, 2016; the adoption of which did not have a material impact to its consolidated financial position, results of operations or cash flows. In April 2015, the FASB issued ASU 2015-03, “Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs,” which requires that loan costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts or premiums. The new guidance is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2015 with early adoption permitted. The ASU is to be applied retrospectively for each period presented. Upon adoption, an entity is required to comply with the applicable disclosures for a change in an accounting principle. The FASB subsequently issued ASU 2015-15, “Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements,” which clarifies that, given the absence of authoritative guidance in ASU 2015-03 regarding presentation and subsequent measurement of loan costs related to line-of-credit arrangements, the SEC Staff would not object to an entity deferring and presenting loan costs as an asset and subsequently amortizing the loan costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The Company has determined that it will not early adopt this ASU and that the amendments will materially impact the presentation of the Company’s consolidated financial position but will not have a material impact on the Company’s consolidated results of operations or cash flows. 2. Summary of Significant Accounting Policies (continued) In September 2015, the FASB issued ASU 2015-16, “Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments,” which requires an acquirer to recognize provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. The new guidance is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2015 with early adoption permitted. The Company adopted ASU 2015-16 on January 1, 2016; the adoption of which did not have a material impact to its consolidated financial position, results of operations or cash flows. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842): Accounting for Leases,” which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The ASU requires lessees to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases with terms of more than 12 months. The ASU further modifies lessors’ classification criteria for leases and the accounting for sales-type and direct financing leases. The ASU will also require qualitative and quantitative disclosures designed to give financial statement users additional information on the amount, timing, and uncertainty of cash flows arising from leases. The ASU is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2018 with early adoption permitted. The ASU is to be applied using a modified retrospective approach. The Company is currently evaluating the impact this ASU will have on the Company’s consolidated financial position, results of operations and cash flows.

Summary of Significant Accoun31

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Acquisition Fees and Expenses	The following table summarizes the Company’s acquisition fees and expenses for the years ended December 31, 2015, 2014 and 2013 (in millions): December 31, Distribution Type 2015 2014 2013 Capitalized as real estate under development $ 4.2 $ 3.4 $ 0.1 Capitalized as investment in unconsolidated entities ― ― 0.5 Capitalized as origination costs to the note receivable ― ― 0.1 Acquisition costs expensed 21.5 23.9 18.8 Total acquisition costs incurred $ 25.7 $ 27.3 $ 19.5

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2015
Acquisitions of Properties	Real Estate Investment Properties — During the year ended December 31, 2015, the Company acquired the following 39 properties, which were comprised of 15 seniors housing communities, 22 MOBs, one post-acute care hospital, and one acute care hospital as follows: Name and Location Structure Date Acquired Purchase Price (in thousands) Acute care Triangle Orthopaedic North Carolina Specialty Hospital Modified Lease 6/29/2015 $ 31,830 Durham, NC Medical Office Novi Orthopaedic Center Modified Lease 2/13/2015 30,500 (1) Novi, MI Southeast Medical Office Properties UT Cancer Institute Building Modified Lease 2/20/2015 33,660 Knoxville, TN Bend Memorial Clinic MOB Modified Lease 5/11/2015 36,000 (1) Bend, OR Stoneterra Medical Plaza Modified Lease 5/29/2015 15,050 (1) San Antonio, TX Triangle Orthopaedic Triangle Orthopaedic Durham Modified Lease 6/29/2015 21,275 Durham, NC Triangle Orthopaedic Oxford Modified Lease 6/29/2015 4,728 Oxford, NC Triangle Orthopaedic Chapel Hill Modified Lease 6/29/2015 3,258 Chapel Hill, NC Triangle Orthopaedic Roxboro Modified Lease 6/29/2015 2,067 Roxboro, NC Doctor's Park Doctor's Park Building B Modified Lease 6/30/2015 5,000 (1) Chula Vista, CA ("San Diego") Doctor's Park Building C Modified Lease 6/30/2015 10,000 (1) Chula Vista, CA ("San Diego") 540 New Waverly Place Modified Lease 7/20/2015 15,000 (1) Cary, NC ("Raleigh") MedHelp Modified Lease 7/31/2015 15,000 (1) Birmingham, AL Maryland MOBs Patriot Professional Center Modified Lease 7/31/2015 16,950 (1) Frederick, MD ("Baltimore") Liberty Professional Center Modified Lease 7/31/2015 7,300 (1) Frederick, MD ("Baltimore") Columbia MOBs Broadway Medical Plaza 1 Modified Lease 8/21/2015 10,700 (1) Columbia, MO Broadway Medical Plaza 2 Modified Lease 8/21/2015 13,100 (1) Columbia, MO Broadway Medical Plaza 4 Modified Lease 8/21/2015 14,200 (1) Columbia, MO Center One Modified Lease 11/30/2015 34,362 (1) Jacksonville, FL Red Bank MOB Modified Lease 12/14/2015 10,610 (1) Cincinnati, OH Name and Location Structure Date Acquired Purchase Price (in thousands) Henderson NV MOBs Siena Pavilion IV Modified Lease 12/18/2015 6,990 Henderson, NV ("Las Vegas") Siena Pavilion V Modified Lease 12/18/2015 27,859 Henderson, NV ("Las Vegas") Siena Pavilion VI Modified Lease 12/18/2015 19,474 Henderson, NV ("Las Vegas") Post-Acute Care Cobalt Rehabilitation Hospital Surprise Triple-net Lease 12/30/2015 23,660 (1) Surprise, AZ ("Phoenix") Seniors Housing Fieldstone Memory Care Managed 3/31/2015 12,400 (1) Yakima, WA Primrose III Communities Primrose Retirement Community of Anderson Triple-net Lease 5/29/2015 21,086 Anderson, IN ("Muncie") Primrose Retirement Community of Lancaster Triple-net Lease 5/29/2015 25,657 Lancaster, OH ("Columbus") Primrose Retirement Community of Wausau Triple-net Lease 5/29/2015 20,307 Wausau, WI ("Green Bay") Superior Residences of Panama City Managed 7/15/2015 20,000 (1) Panama City Beach, FL Southeast Seniors Housing Communities Parc at Duluth Triple-net Lease 7/31/2015 52,800 Duluth, GA ("Atlanta") Parc at Piedmont Triple-net Lease 7/31/2015 50,800 Marietta, GA ("Atlanta") The Pavilion at Great Hills Managed 7/31/2015 35,000 Austin, TX The Hampton at Meadows Place Managed 7/31/2015 28,400 Meadows Place, TX ("Houston") The Beacon at Gulf Breeze Managed 7/31/2015 28,000 Gulf Breeze, FL ("Pensacola") Palmilla Senior Living Managed 9/30/2015 47,600 Albuquerque, NM Cedar Lake Assisted Living and Memory Care Managed 9/30/2015 30,000 Lake Zurich, IL ("Chicago") The Shores of Lake Phalen Managed 11/10/2015 29,250 (1) Maplewood, MN ("St. Paul") Park Place Senior Living at WingHaven Managed 12/17/2015 54,000 O'Fallon, MO ("St. Louis") Hearthside Senior Living of Collierville Managed 12/29/2015 17,000 (1) Collierville, TN ("Memphis") $ 880,873 FOOTNOTE: (1) This represents a single property or portfolio acquisition that is not considered material to the Company and as such no pro forma financial information has been included related to this property. During the year ended December 31, 2014, the Company acquired the following 35 properties, which were comprised of 15 MOBs, 14 seniors housing communities, three post-acute care facilities, and three acute care hospital as follows: Name and Location Structure Date Acquired Purchase Price (in thousands) Acute Care Memorial Hermann Orthopedic & Spine Hospital ("MHOSH") Triple-net Lease 6/2/2014 $ 49,000 Bellaire, TX ("Houston") Medical Portfolio II Properties Hurst Specialty Hospital Modified Lease 8/15/2014 29,465 Hurst, TX ("Dallas/Fort Worth") Beaumont Specialty Hospital Modified Lease 8/15/2014 33,600 Beaumont, TX ("Houston") Medical Office Chula Vista Medical Arts Center - Plaza I Modified Lease 1/21/2014 17,863 (1) Chula Vista, CA ("San Diego") MHOSH MOB Modified Lease 6/2/2014 27,000 Bellaire, TX ("Houston") Lee Hughes MOB Modified Lease 9/29/2014 29,870 (1) Glendale, CA ("Los Angeles") Northwest Medical Park Building Modified Lease 10/31/2014 10,804 (1) Margate, FL ("Fort Lauderdale") Newburyport Medical Center Modified Lease 10/31/2014 18,000 (1) Newburyport, MA ("Boston") ProMed Building I Modified Lease 12/19/2014 11,000 (1) Yuma, AZ Southeast Medical Office Properties Midtown Medical Plaza Modified Lease 12/22/2014 54,695 Charlotte, NC Presbyterian Medical Tower Modified Lease 12/22/2014 36,333 Charlotte, NC Metroview Professional Building Modified Lease 12/22/2014 17,262 Charlotte, NC Physicians Plaza Huntersville Modified Lease 12/22/2014 29,964 Huntersville, NC ("Charlotte") Matthews Medical Office Building Modified Lease 12/22/2014 21,227 Matthews, NC ("Charlotte") Outpatient Care Center Modified Lease 12/22/2014 15,450 Clyde, NC ("Asheville") 330 Physicians Center Modified Lease 12/22/2014 30,099 Rome, GA Spivey Station Physicians Center Modified Lease 12/22/2014 14,379 Atlanta, GA Spivey Station ASC Building Modified Lease 12/22/2014 18,591 Atlanta, GA Name and Location Structure Date Acquired Purchase Price (in thousands) Post-Acute Care Medical Portfolio II Properties Oklahoma City Inpatient Rehabilitation Hospital Modified Lease 7/15/2014 $ 25,504 Oklahoma City, OK Las Vegas Inpatient Rehabilitation Hospital Modified Lease 7/15/2014 22,292 Las Vegas, NV South Bend Inpatient Rehabilitation Hospital Modified Lease 7/15/2014 20,240 Mishawaka, IN ("South Bend") Seniors Housing Pacific Northwest II Communities Prestige Senior Living Auburn Meadows Managed 2/3/2014 21,930 Auburn, WA ("Seattle") Prestige Senior Living Bridgewood Managed 2/3/2014 22,096 Vancouver, WA ("Portland") Prestige Senior Living Monticello Park Managed 2/3/2014 27,360 Longview, WA Prestige Senior Living Rosemont Managed 2/3/2014 16,877 Yelm, WA Prestige Senior Living West Hills Managed 3/3/2014 14,986 Corvallis, OR South Bay II Communities Isle at Cedar Ridge Managed 2/28/2014 21,630 Cedar Park, TX ("Austin") HarborChase of Plainfield Managed 3/28/2014 26,500 Plainfield, IL Legacy Ranch Alzheimer’s Special Care Center Managed 3/28/2014 11,960 Midland, TX The Springs Alzheimer’s Special Care Center Managed 3/28/2014 10,920 San Angelo, TX Isle at Watercrest – Bryan Managed 4/21/2014 22,050 Bryan, TX Watercrest at Bryan Managed 4/21/2014 28,035 Bryan, TX Isle at Watercrest – Mansfield Managed 5/5/2014 31,300 Mansfield, TX ("Dallas/Fort Worth") Watercrest at Mansfield Managed 6/30/2014 49,000 Mansfield, TX ("Dallas/Fort Worth") Fairfield Village of Layton Managed 11/20/2014 68,000 Layton, UT ("Salt Lake City") $ 905,282 FOOTNOTE: (1) This represents a single property or portfolio acquisition that is not considered material to the Company and as such no pro forma financial information has been included related to this property.
Schedule of Purchase Price Allocation	The following summarizes the purchase price allocation for the above properties, and the estimated fair values of the assets acquired and liabilities assumed (in thousands): December 31, 2015 2014 Land and land improvements $ 91,419 $ 60,565 Buildings and building improvements 702,611 732,740 Furniture, fixtures and equipment 11,746 12,260 Intangibles (1) 86,601 110,325 Other liabilities (5,175 ) (12,037 ) Liabilities assumed (6,905 ) (1,000 ) Assumed mortgage note payable (2) (6,976 ) (27,657 ) Net assets acquired 873,321 875,196 Contingent purchase price consideration (6,481 ) (12,395 ) Total purchase price consideration $ 866,840 $ 862,801 FOOTNOTES: (1) At the acquisition date, the weighted-average amortization period on the acquired lease intangibles for the years ended December 31, 2015 and 2014 were approximately 7.7 years for both periods, respectively. The acquired lease intangibles during the year ended December 31, 2015 were comprised of approximately $81.8 million and $4.8 million of in-place lease intangibles and other lease intangibles, respectively, and the acquired lease intangibles during the year ended December 31, 2014 were comprised of approximately $97.3 million and $13.0 million of in-place lease intangibles and other lease intangibles, respectively. (2) During the year ended December 31, 2015, the Company assumed a discount on a below-market mortgage note payable assumed of approximately $0.2 million at the acquisition date. During the year ended December 31, 2014, the Company assumed a premium on an above-market mortgage note payable of approximately $0.4 million at the acquisition date.
Schedule of Unaudited Proforma Results of Operations	The following table presents the unaudited pro forma results of operations for the Company as if each of the 2015 material acquisitions noted above were acquired as of January 1, 2014 and the unaudited pro forma results of operations for the Company as if each of the 2014 material acquisitions noted above were acquired as of January 1, 2013 (in thousands except per share data): Years ended December 31, 2015 (Unaudited) 2014 (Unaudited) 2013 (Unaudited) Revenues $ 346,071 $ 307,552 $ 242,415 Net loss (1) $ (66,613 ) $ (62,071 ) $ (59,527 ) Loss per share of common stock (basic and diluted) $ (0.39 ) $ (0.42 ) $ (0.57 ) Weighted average number of shares of common stock outstanding (basic and diluted) (2) 170,735 148,443 104,079 FOOTNOTES: (1) The unaudited pro forma results for the years ended December 31, 2015 and 2014 were adjusted to exclude approximately $11.3 million and $20.5 million, respectively, of acquisition related expenses directly attributable to the properties acquired during the years ended December 31, 2015 and 2014. The unaudited pro forma results for the years ended December 31, 2014 and 2013 were adjusted to include these charges as if the properties were acquired on January 1, 2014 and 2013, respectively. (2) As a result of the acquired properties being treated as operational since January 1, 2014 and 2013, the Company assumed approximately 31.6 million and 40.8 million additional shares were issued as of January 1, 2014 and 2013, respectively. Consequently, the weighted average number of shares outstanding was adjusted to reflect this amount of shares being issued as of January 1, 2014 and 2013, instead of actual dates on which the shares were issued, and such shares were treated as outstanding as of the beginning of the period presented.
Gain That Resulted From Change of Control in Equity Method Investment	The following summarizes the gain that resulted from the change of control in the equity method investment for the year ended December 31, 2015 (in thousands): Fair value of net assets acquired $ 10,129 Less: Previous investment in Montecito Joint Venture (5,747 ) Less: Cash paid to acquire co-venture partner's interest (1,584 ) Gain on purchase of controlling interest of investment in unconsolidated entity $ 2,798
Montecito Joint Venture
Schedule of Purchase Price Allocation	The following summarizes the allocation of the purchase price, and the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date (in thousands): Land and land improvements $ 6,324 Buildings and building improvements 13,533 Intangibles (1) 2,691 Working capital, net 87 Other liabilities (175 ) Mortgage note payable assumed (2) (12,331 ) Net assets acquired $ 10,129 FOOTNOTES: (1) At the acquisition date, the weighted-average amortization period on the acquired lease intangibles was approximately 5.1 years and was comprised of approximately $1.9 million and $0.8 million of in-place lease intangibles and other lease intangibles, respectively. (2) At the acquisition date, the fair value of the mortgage note payable assumed reflects an approximate $0.6 million discount on the below-market mortgage note payable assumed.

Real Estate Assets, net (Tables

Real Estate Assets, net (Tables)	12 Months Ended
	Dec. 31, 2015
Real Estate Properties [Line Items]
Schedule of Real Estate Investment Properties	The gross carrying amount and accumulated depreciation of the Company’s real estate assets as of December 31, 2015 and December 31, 2014 are as follows (in thousands): December 31, 2015 2014 Land and land improvements $ 229,046 $ 128,662 Building and building improvements 2,297,336 1,545,614 Furniture, fixtures and equipment 60,601 36,319 Less: accumulated depreciation (116,807 ) (53,095 ) Real estate investment properties, net 2,470,176 1,657,500 Real estate under development, including land 62,521 47,153 Total real estate assets, net $ 2,532,697 $ 1,704,653
Under Development with Third-Party Developers
Real Estate Properties [Line Items]
Schedule of Real Estate Investment Properties	As of December 31, 2015, eight of the Company’s seniors housing communities and one post-acute care facility have real estate under development or expansion projects with third-party developers as follows (in thousands): Property Name (and Location) Developer Real Estate Development Costs Incurred (1) (Unaudited) Remaining Development Budget (2) Development Properties Raider Ranch (Lubbock, TX) South Bay Partners, Ltd $ 9,942 $ 2,274 Watercrest at Katy (Katy, TX) (3) South Bay Partners, Ltd 26,565 16,245 Welbrook Senior Living Grand Junction (Grand Junction, CO) Embree Asset Group, Inc. 3,198 10,636 Waterstone (Greenville, SC) T&D Greenville, LLC 7,185 21,287 Wellmore of Lexington (Lexington, SC) Maxwell Group, Inc. 8,723 46,282 Dogwood Forest of Grayson (Grayson, GA) Solomon Development Services, LLC 3,973 23,024 Fieldstone at Pear Orchard (Yakima, WA) (4) Cascadia Development, LLC 2,606 13,067 Expansion Projects Tranquillity at Fredericktowne (Frederick, MD) Capital Health Partners 235 5,649 Brookridge Heights Assisted Living & Memory Care (Marquette, MI) Capital Health Partners 94 4,725 $ 62,521 $ 143,189 FOOTNOTES: (1) This amount represents land and total capitalized costs for GAAP purposes for the acquisition, development and construction of the seniors housing community or post-acute care facility as of December 31, 2015. Amounts include investment services fees, asset management fees, interest expense and other costs capitalized during the development period. (2) This amount includes preleasing and marketing costs which will be expensed as incurred. (3) This property is owned through a joint venture in which the Company’s initial ownership interest is 95%. (4) This property is owned through a joint venture in which the Company’s initial ownership interest is 75%. The development budgets include the cost of the land, construction costs, development fees, financing costs, start-up costs and initial operating deficits of the respective properties. An affiliate of the developer of the respective community coordinates and supervises the management and administration of the development and construction. Each developer is responsible for any cost overruns beyond the approved development budget for the applicable project pursuant to a cost overrun guarantee. Some of these developments were deemed to be VIEs; refer to Note 7. “Variable Interest Entities” for additional information.

Intangibles, net (Tables)

Intangibles, net (Tables)	12 Months Ended
	Dec. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Net Book Value of Intangibles	The gross carrying amount and accumulated amortization of the Company’s intangible assets and liabilities as of December 31, 2015 and December 31, 2014 are as follows (in thousands): December 31, 2015 2014 In-place lease intangibles $ 220,917 $ 148,880 Above-market lease intangibles 13,960 11,320 Below-market ground lease intangibles 12,470 10,314 Less: accumulated amortization (74,895 ) (30,250 ) Intangible assets, net $ 172,452 $ 140,264 Below-market lease intangibles $ (12,095 ) $ (13,243 ) Above-market ground lease intangibles (3,488 ) (2,273 ) Less: accumulated amortization 2,581 1,014 Intangible liabilities, net (1) $ (13,002 ) $ (14,502 ) FOOTNOTE: (1) Intangible liabilities, net are included in other liabilities in the accompanying consolidated balance sheets.
Schedule of Estimated Future Amortization and Weighted Average Remaining Useful Life	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, 2015 is as follows (in thousands): In-place Lease Intangibles Above- market Leases Below- market Ground Leases Total Assets Below- market Leases Above- market Ground Leases Total Liabilities 2016 $ 42,932 1,899 320 $ 45,151 $ 1,577 89 $ 1,666 2017 29,041 1,703 320 31,064 1,414 89 1,503 2018 17,414 1,517 320 19,251 1,257 89 1,346 2019 12,128 1,215 320 13,663 1,094 89 1,183 2020 10,124 1,005 320 11,449 866 89 955 Thereafter 38,070 3,402 10,402 51,874 3,395 2,954 6,349 $ 149,709 10,741 12,002 $ 172,452 $ 9,603 3,399 $ 13,002 Weighted average remaining useful life as of December 31, 2015 (in years): In-place Lease Intangibles Above-market Leases Below-market Ground Leases Below-market Leases Above-market Ground Leases 4.7 5.9 37.6 5.5 38.1

Operating Leases (Tables)

Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Schedule of Future Minimum Lease Payments to be Received Under Non-Cancellable Operating Leases	The following are future minimum lease payments to be received under non-cancellable operating leases for the next five years and thereafter, as of December 31, 2015 (in thousands): 2016 $ 112,660 2017 106,582 2018 99,076 2019 90,885 2020 84,552 Thereafter 437,055 $ 930,810

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2015
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Aggregate Carrying Amount and Major Classifications of Consolidated Assets	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, 2015 and December 31, 2014 are as follows (in thousands): December 31, 2015 2014 Assets: Real estate investment properties, net $ 219,971 $ 174,449 Real estate under development, including land $ 58,994 $ 47,153 Intangibles, net $ 23,540 $ 25,519 Cash $ 4,427 $ 6,280 Deferred rent and lease incentives $ 6,942 $ 2,978 Other assets $ 1,506 $ 511 Loan costs, net $ 2,625 $ 2,300 Restricted cash $ 1,461 $ 5,304 Liabilities: Mortgages and other notes payable, net $ 153,735 $ 137,754 Accounts payable and accrued liabilities $ 981 $ 2,317 Accrued development costs $ 10,669 $ 7,951 Other liabilities $ 3,644 $ 4,949 Due to related parties $ 136 $ 219

Ground and Air Rights Leases (T

Ground and Air Rights Leases (Tables)	12 Months Ended
	Dec. 31, 2015
Schedule of Future Minimum Lease Payments to be Received Under Non-Cancellable Operating Leases	The following are future minimum lease payments to be received under non-cancellable operating leases for the next five years and thereafter, as of December 31, 2015 (in thousands): 2016 $ 112,660 2017 106,582 2018 99,076 2019 90,885 2020 84,552 Thereafter 437,055 $ 930,810
Ground and Air Rights Leases
Schedule of Future Minimum Lease Payments to be Received Under Non-Cancellable Operating Leases	The following is a schedule of future minimum lease payments to be paid under the ground and air rights leases for each of the next five years and thereafter, in the aggregate, as of December 31, 2015 (in thousands): 2016 $ 1,957 2017 1,984 2018 2,016 2019 2,039 2020 2,061 Thereafter 113,559 $ 123,616

Contingent Purchase Price Con38

Contingent Purchase Price Consideration (Tables)	12 Months Ended
	Dec. 31, 2015
Capital Health Communities
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value of Contingent Purchase Price Consideration	The following table provides a roll-forward of the fair value of the contingent purchase price consideration for the years ended December 31, 2015, 2014 and 2013 (in thousands): Years Ended December 31, 2015 2014 2013 Beginning balance $ 4,078 $ 4,488 $ 2,664 Contingent consideration in connection with acquisition — — — Change in fair value 321 2,191 1,824 Yield Guaranty payment received from seller (4,399 ) (2,601 ) — Ending balance $ — $ 4,078 $ 4,488
Medical Portfolio I
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value of Contingent Purchase Price Consideration	The following table provides a roll-forward of the fair value of the contingent purchase price consideration for the years ended December 31, 2015, 2014 and 2013 (in thousands): Years Ended December 31, 2015 2014 2013 Beginning balance $ (268 ) $ (507 ) $ — Contingent consideration in connection with acquisition — — (507 ) Change in fair value 268 239 — Ending balance $ — $ (268 ) $ (507 )
South Bay II Communities
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair Value of Contingent Purchase Price Consideration	The following table provides a roll-forward of the fair value of the estimated contingent purchase price consideration for the years ended December 31, 2015, 2014 and 2013 (in thousands): Years Ended December 31, 2015 2014 2013 Beginning balance $ — $ — $ — Contingent consideration in connection with acquisition — (12,395 ) — Change in fair value — (1,800 ) — Contingent consideration payment — 14,195 — Ending balance $ — $ — $ —

Indebtedness (Tables)

Indebtedness (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Details of Indebtedness	The following table provides details of the Company’s indebtedness as of December 31, 2015 and December 31, 2014 (in thousands): December 31, 2015 2014 Mortgages payable and other notes payable: Fixed rate debt $ 391,639 $ 370,854 Variable rate debt (1) 449,017 482,922 Mortgages and other notes payable (2) 840,656 853,776 Premium (discount), net (3) (221 ) (215 ) Total mortgages and other notes payable, net 840,435 853,561 Credit facilities: First Term Loan Facility (1) 175,000 175,000 Revolving Credit Facility (4) 225,000 31,403 Second Term Loan Facility (5) 260,000 ― Total borrowings $ 1,500,435 $ 1,059,964 FOOTNOTES: (1) As of December 31, 2015 and December 31, 2014, the Company had entered into interest rate swaps with notional amounts of approximately $480.7 million and $182.1 million, respectively, which were settling on a monthly basis. In addition, as of December 31, 2015 and December 31, 2014, the Company had entered into forward-starting interest rate swaps for total notional amounts of approximately $48.4 million and $269.4 million, respectively, in order to hedge the Company’s exposure to this variable rate debt in future periods. Refer to Note 12. “Derivative Financial Instruments” for additional information. (2) As of December 31, 2015, the Company’s mortgages and other notes payable are collateralized by 65 properties with total carrying value of approximately $1.4 billion. (3) Premium (discount), net is reflective of the Company recording mortgage note payables assumed at fair value on the respective acquisition dates. (4) As of December 31, 2015 and December 31, 2014, availability under the Revolving Credit Facility was approximately $20.0 million and $14.0 million, respectively, based on the value of the properties in the unencumbered pool of assets supporting the loan. (5) As of December 31, 2015, the Company had entered into an interest rate cap with a notional amount of approximately $260 million. Refer to Note 12. “Derivative Financial Instruments” for additional information.
Schedule of Maturities of Indebtedness	The following is a schedule of future principal payments and maturity for the Company’s total borrowings as of December 31, 2015 (in thousands): 2016 $ 36,758 2017 262,276 2018 287,172 2019 491,631 2020 333,318 Thereafter 89,280 $ 1,500,435
Schedule of Indebtedness	The following table provides additional details of the Company’s mortgages and other notes payable as of December 31, 2015 and 2014 (in thousands): Interest Rate at December 31, December 31, Property and Loan Type 2015 (1) Payment Terms Maturity Date (2) 2015 2014 Pacific Northwest Communities; Mortgage Loan 4.30% per annum Monthly principal and interest payments based on a 25-year amortization schedule 12/5/18 $ 210,665 $ 215,904 Capital Health Communities; Mortgage Loan 4.25% per annum Monthly principal and interest payments based on a 25-year amortization schedule 1/5/20 37,889 43,684 Primrose II Communities; Mortgage Loan 3.81% per annum Monthly principal and interest payments based on a 30-year amortization schedule 6/1/20 22,473 22,913 Novi Orthopaedic Center; Mortgage Loan 3.61% per annum Monthly interest only payments through June 2018; principal and interest payments thereafter based on a 25-year amortization schedule 6/15/20 19,825 — ProMed Medical Building I; Mortgage Loan 3.64% per annum (4) Monthly principal and interest payments based upon a 25-year amortization schedule 1/15/22 7,050 — Primrose I Communities; Mortgage Loan (5) 4.11% per annum Monthly principal and interest payments based on a 30-year amortization schedule 9/1/22 52,048 53,060 Watercrest at Mansfield; Mortgage Loan (6) 4.68% per annum Monthly principal and interest payments based on a total payment of $143,330 6/1/23 26,628 27,073 540 New Waverly Place; Mortgage Loan (7) 4.08% per annum Monthly principal and interest payments based upon a 25-year amortization schedule 5/31/28 7,048 — LaPorte Cancer Center; Mortgage Loan 4.25% per annum (through 2020) Monthly principal and interest payments based on a 25-year amortization schedule 6/14/28 8,013 8,220 Total fixed rate debt 391,639 370,854 Perennial Communities; Mortgage Loan (8) (8) (8) — 30,000 Medical Portfolio I Properties; Mortgage Loan (9) (9) (9) — 34,720 Lee Hughes Medical Building; Mortgage Loan 30-day LIBOR plus 1.85% per annum Monthly principal and interest payments based on a 30-year amortization schedule 9/5/16 18,632 19,162 10. Indebtedness (continued) Interest Rate at December 31, December 31, Property and Loan Type 2015 (1) Payment Terms Maturity Date (2) 2015 2014 Harborchase of Villages Crossing; Construction Loan (10) (10) (10) — 16,589 Raider Ranch Development Construction Loan 30-day LIBOR plus 3.50% at 0.5% LIBOR floor Monthly interest only payments through October 2017; principal and interest payments thereafter based on a 25-year amortization schedule 10/27/17 7,528 1 Northwest Medical Park; Mortgage Loan (11) 30-day LIBOR plus 2.30% per annum Monthly principal and interest payments based upon a 30-year amortization schedule 10/31/17 7,008 7,129 Watercrest at Katy Construction Loan 30-day LIBOR plus 2.75% per annum Monthly interest only payments through December 2017; principal payments thereafter based on a 30 amortization schedule 12/27/17 10,632 — Dogwood Forest of Acworth; Construction Loan (12) (12) (12) — 12,038 Claremont Medical Office; Mortgage Loan (13) 30-day LIBOR plus 2.60% per annum Monthly principal and interest payments based on a 30-year amortization schedule 1/15/18 12,683 12,958 Knoxville Medical Office Properties; Mortgage Loan (14) 30-day LIBOR plus 2.50% per annum Monthly interest only payments for the first 18 months; principal and interest payments thereafter based on a 30-year amortization schedule 7/10/18 38,087 38,609 Calvert Medical Office Properties; Mortgage Loan (15) 30-day LIBOR plus 2.50% per annum Monthly interest only payments for the first 18 months; principal and interest payments thereafter based on a 30-year amortization schedule 8/29/18 25,950 26,274 Wellmore of Tega Cay; Construction Loan 30-day LIBOR plus 5.4% at 0.5% LIBOR floor Monthly interest only payments through February 2019; principal and interest payments thereafter based on a 25-year amortization schedule 2/5/19 23,695 8,007 Memorial Hermann Orthopedic & Spine Hospital Medical Office Building; Mortgage Loan (16) 90-day LIBOR plus 2.85% at 0.4% LIBOR floor Monthly principal and interest payments based on a 20-year amortization schedule 6/2/19 48,832 49,624 Medical Portfolio II Properties; Mortgage Loan 90-day LIBOR plus 2.35% at 0.25% LIBOR floor Monthly principal and interest payments based on a 25-year amortization schedule 7/14/19 83,295 85,127 HarborChase of Shorewood; Construction Loan 30-day LIBOR plus 3% at 2% LIBOR floor Monthly interest only payments through June 2017; principal and interest payments thereafter based on a 25-year amortization schedule 7/15/19 12,469 — Wellmore of Lexington; Construction Loan 30-day LIBOR plus 2.5% per annum Monthly interest only payments through September 2019; principal payments thereafter based on a 30-year amortization schedule 9/13/19 — — 10. Indebtedness (continued) Interest Rate at December 31, December 31, Property and Loan Type 2015 (1) Payment Terms Maturity Date (2) 2015 2014 Southeast Medical Office Properties; Mortgage Loan 30-day LIBOR plus 2.0% per annum Monthly principal and interest payments based on a 25-year amortization schedule 12/22/19 160,206 142,684 Waterstone; Construction Loan 30-day LIBOR plus 3.0% per annum Monthly interest only payments through September 2018; principal payments thereafter based on a 30-year amortization schedule 9/1/20 — — Fieldstone at Pear Orchard; Construction Loan 30-day LIBOR plus 2.9% per annum Monthly interest only payments through September 2018; principal payments thereafter based on a 25-year amortization schedule 10/15/20 — — Dogwood Forest of Grayson; Construction Loan 30-day LIBOR plus 3.0% per annum Monthly interest only payments through December 2018; principal payments thereafter based on a 30-year amortization schedule 12/1/20 — — Total variable rate debt 449,017 482,922 Total debt $ 840,656 $ 853,776 FOOTNOTES: (1) The 30-day and 90-day LIBOR was approximately 0.43% and 0.61%, respectively, as of December 31, 2015 and approximately 0.17% and 0.25%, respectively, as of December 31, 2014. (2) Represents the initial maturity date (or, as applicable, the maturity date as extended). The maturity date may be extended beyond the date shown subject to certain lender conditions. (3) The Pacific Northwest Loan may be prepaid, in whole or in part, with a prepayment premium equal to the greater of: (i) one percent (1%) of the principal amount being prepaid, multiplied by the quotient of the number of full months remaining until the maturity date of the loan (calculated as of the prepayment date) divided by the number of full months comprising the term of the loan; or (b) a “make-whole” payment equal to the present value of the loan less the amount of principal and accrued interest being prepaid calculated as of the prepayment date for the period between that date and the maturity date. (4) Beginning January 2020, the interest rate transitions to variable rate based on 30-day LIBOR plus 2.20% per annum. (5) If prepaid prior to March 1, 2022, the Primrose I Communities Mortgage Loan is subject to a prepayment penalty in an amount equal to the greater of (i) 1% of the principal being repaid, or (ii) an amount calculated on the principal being repaid, multiplied by the difference between the Primrose I Communities Mortgage Loan interest rate, and a calculated yield rate tied to the rates on applicable U.S. Treasuries. If prepayment is made between March 1, 2022, and May 31, 2022, the prepayment penalty will be 1% of the outstanding principal balance of the Primrose I Communities Mortgage Loan. No prepayment fee is required if the Primrose I Communities Mortgage Loan is prepaid between June 1, 2022 and maturity. Partial prepayment of a loan is not permitted. The loan is transferable upon sale of the assets subject to lender approval. (6) The balance for this loan excludes a remaining premium of $0.3 million related to the mortgage note payable assumed being recorded at fair value on the acquisition date. (7) The balance for this loan excludes a remaining premium of $0.1 million related to the mortgage note payable assumed being recorded at fair value on the acquisition date. (8) In March 2015, the Company repaid its $30.0 million outstanding mortgage loan on the Perennial Communities prior to its scheduled maturity. In connection therewith, the Company wrote-off approximately $0.2 million in unamortized loan costs as interest expense and loan cost amortization in the accompanying consolidated statements of operations. In addition, the corresponding interest rate swap was terminated and approximately $0.1 million related to the derecognition of the cash flow hedge was reclassified from other comprehensive loss to interest expense and loan cost amortization in the accompanying consolidated financial statements. 10. Indebtedness (continued) (9) In April 2015, the Company repaid its $34.5 million outstanding mortgage loan on the Medical Portfolio I Properties prior to its scheduled maturity. In connection therewith, the Company wrote-off approximately $0.2 million in unamortized loan costs as interest expense and loan cost amortization in the accompanying consolidated statements of operations. In addition, the corresponding interest rate swap was terminated and approximately $0.2 million related to the derecognition of the cash flow hedge was reclassified from other comprehensive loss to interest expense and loan cost amortization in the accompanying consolidated financial statements. (10) In December 2015, the Company repaid its $16.5 million outstanding construction loan on the HarborChase of Villages Crossing property prior to its scheduled maturity. In connection therewith, the Company wrote-off approximately $0.1 million in unamortized loan costs as interest expense and loan cost amortization in the accompanying consolidated statements of operations. (11) The Company entered into an interest rate swap with a remaining notional amount of $7.0 million; see Note 12. “Derivative Financial Instruments” for additional information. (12) In December 2015, the Company repaid its $12.4 million outstanding construction loan on the Dogwood Forest of Acworth property prior to its scheduled maturity. In connection therewith, the Company wrote-off approximately $0.1 million in unamortized loan costs as interest expense and loan cost amortization in the accompanying consolidated statements of operations. (13) The balance for this loan excludes a remaining discount of $0.4 million related to the mortgage note payable assumed being recorded at fair value on the acquisition date. In addition, the Company entered into a three-year forward interest rate swap with a remaining notional amount of $12.2 million; see Note 12. “Derivative Financial Instruments” for additional information (14) The Company entered into an interest rate swap with a remaining notional amount of $38.1 million; see Note 12. “Derivative Financial Instruments” for additional information. (15) The Company entered into an interest rate swap with a remaining notional amount of $25.9 million; see Note 12. “Derivative Financial Instruments” for additional information. (16) The Company entered into a three-year forward interest rate swap with a remaining notional amount of $48.4 million; see Note 12. “Derivative Financial Instruments” for additional information. (17) The Company entered into an interest rate swap with a remaining notional amount of $83.8 million; see Note 12. “Derivative Financial Instruments” for additional information. (18) The Company entered into an interest rate swap with a remaining notional amount of $138.7 million; see Note 12. “Derivative Financial Instruments” for additional information.

Related Party Arrangements (Tab

Related Party Arrangements (Tables)	12 Months Ended
	Dec. 31, 2015
Related Party Arrangement, Fees and Expenses Incurred By, Reimbursable, Settled and Paid	The expenses and fees incurred by and reimbursable to the Company’s related parties for the years ended December 31, 2015, 2014 and 2013, and related amounts unpaid as of December 31, 2015 and 2014 are as follows (in thousands): Years Ended December 31, Unpaid amounts (1) as of December 31, 2015 2014 2013 2015 2014 Reimbursable expenses: Offering costs (2) $ 3,446 $ 5,151 $ 4,373 $ 32 $ 713 Operating expenses (3) 4,192 3,206 2,576 935 479 Acquisition fees and expenses 613 614 254 12 80 8,251 8,971 7,203 979 1,272 Investment services fees (4) 18,561 18,553 12,892 182 — Disposition fee (5) — — 608 — — Financing coordination fees (6) — 220 — — — Property management fees (7) 3,894 2,982 1,244 418 429 Asset management fees (8) 22,837 13,612 5,089 224 355 $ 53,543 $ 44,338 $ 27,036 $ 1,803 $ 2,056 FOOTNOTES: (1) Amounts are recorded as due to related parties in the accompanying consolidated balance sheets. (2) Amounts are recorded as stock issuance and offering costs in the accompanying consolidated statements of stockholders’ equity and redeemable noncontrolling interest. Amounts include approximately $25,000, $30,000 and $0.1 million of reimbursement payments to the Advisor for services provided to the Company by its executive officers for the years ended December 31, 2015, 2014 and 2013, respectively. The reimbursement payments include components of salaries, benefits and other overhead charges. (3) Amounts are recorded as general and administrative expenses in the accompanying consolidated statements of operations. Amounts include approximately $0.1 million, $0.2 million and $0.2 million of reimbursement payments to the Advisor for services provided to the Company by its executive officers for the years ended December 31, 2015, 2014 and 2013, respectively. The reimbursement payments include components of salaries, benefits and other overhead charges. (4) For the year ended December 31, 2015, the Company incurred approximately $18.6 million in investment services fees of which approximately $2.3 million, was capitalized and included in real estate under development in the accompanying consolidated balance sheets. For the year ended December 31, 2014, the Company incurred approximately $18.6 million in investment service fees of which approximately $1.8 million was capitalized and included in real estate under development. For the year ended December 31, 2013, the Company incurred approximately $12.9 million in investment service fees of which approximately $0.5 million and $0.1 million, respectively, were capitalized and included in investments in unconsolidated entities and real estate under development. Investment service fees, that are not capitalized, are recorded as acquisition fees and expenses in the accompanying consolidated statements of operations. (5) Amounts are recorded as a reduction to gain on sale of investment in unconsolidated entity in the accompanying consolidated statements of operations. (6) For the year ended December 31, 2014, the Company incurred approximately $0.2 million in financing coordination fees, which was capitalized and included in its investment in the Windsor Manor Joint Venture. There were no financing coordination fees for the years ended December 31, 2015 and 2013. (7) For the years ended December 31, 2015, 2014 and 2013, the Company incurred approximately $3.9 million, $2.9 million and $1.2 million, respectively, in property and construction management fees payable to the Property Manager of which approximately $0.7 million, $0.9 million and $0.2 million, respectively, in construction management fees were capitalized and included in real estate under development in the accompanying consolidated balance sheets. (8) For the years ended December 31, 2015, 2014 and 2013, the Company incurred approximately $22.9 million, $13.6 million and $5.1 million, respectively, in asset management fees payable to the Advisor of which approximately $4.4 million, $4.9 million and $1.4 million, respectively, were settled in accordance with the terms of the Advisor Expense Support Agreement and approximately $0.6 million , $0.3 million and $0.1 million, respectively, were capitalized and included in real estate under development in the accompanying consolidated balance sheets.
Public Offering | Managing Dealer
Related Party Arrangement, Fees and Expenses Incurred By, Reimbursable, Settled and Paid	The fees incurred by and reimbursable to the Managing Dealer in connection with the Company’s Offerings for the years ended December 31, 2015, 2014 and 2013, and related amounts unpaid as of December 31, 2015 and 2014 are as follows (in thousands): Years Ended December 31, Unpaid amounts (1) as of December 31, 2015 2014 2013 2015 2014 Selling commissions (2) $ 12,507 $ 18,387 $ 10,262 $ — $ 388 Marketing support fees (2) 16,242 16,429 11,310 — 555 $ 28,749 $ 34,816 $ 21,572 $ — $ 943
Expense Support Agreements
Related Party Arrangement, Fees and Expenses Incurred By, Reimbursable, Settled and Paid	The following fees were settled in connection with the Expense Support Agreements for the years ended December 31, 2015, 2014 and 2013, and cumulatively as of December 31, 2015 (in thousands, except offering price): Years Ended December 31, As of December 31, 2015 2014 2013 2015 Asset management fees (1) $ 4,379 $ 4,867 $ 1,402 $ 10,648 Then-current offering price or NAV (2) $ 10.19 $ 10.24 $ 10.00 $ 9.75 Restricted stock shares (3) 423 478 140 1,041 Cash distributions on Restricted Stock (4) $ 281 $ 98 $ 5 $ 384 Stock distributions on Restricted Stock (5) 14 7 — (6) 21 FOOTNOTES: (1) No other amounts have been settled in connection with the Expense Support Agreements for the years ended December 31, 2015, 2014 and 2013, and cumulatively as of December 31, 2015. (2) The number of restricted stock shares granted to the Advisor in lieu of payment in cash is determined by dividing the expense support amount for the respective quarter by the then-current public offering price as of the Determination Date or by NAV, once the board of directors has made such determination after the close of the Company’s public offering. (3) Restricted stock shares are comprised of approximately 0.8 million issued to the Advisor and approximately 0.2 million issuable to the Advisor as of December 31, 2015. No fair value was assigned to the restricted stock shares as the shares were valued at zero, which represents 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, 2015. (4) The cash distributions have been recognized as compensation expense as issued and included in general and administrative expense in the accompanying consolidated statements of operations. (5) This represents the number of shares issued to the Advisor as stock distributions on its restricted stock shares. The par value of the stock distributions has been recognized as compensation expense as issued and included in general and administrative expense in the accompanying consolidated statements of operations. (6) During the year ended December 31, 2013, the Advisor received 356 shares in the form of stock distributions under the terms of the Advisor Expense Support Agreement.

Derivative Financial Instrume41

Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2015
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Summary of Gross and Net Amounts of Derivative Financial Instruments Presented in Condensed Consolidated Balance Sheet	The following summarizes the terms of the Company’s, or its equity method investments’, derivative financial instruments and the corresponding asset (liability) as of December 31, 2015 and 2014 (in thousands): Fair value asset (liability) as of Notional Amount Strike (1) Credit Spread (1) Trade date Forward date Maturity date December 31, 2015 December 31, 2014 $ 12,248 (2 ) 1.3 % 2.6 % 1/17/2013 1/15/2015 1/16/2018 $ (85 ) $ (71 ) $ 38,052 (2 ) 2.7 % 2.5 % 9/6/2013 8/17/2015 7/10/2018 $ (1,472 ) $ (1,228 ) $ 25,929 (2 ) 2.8 % 2.5 % 9/6/2013 8/17/2015 8/29/2018 $ (1,086 ) $ (906 ) $ 30,000 (3 ) 1.1 % 2.7 % 10/22/2013 8/5/2015 (3) $ — $ (82 ) $ 29,952 (3 ) 0.9 % 4.3 % 11/13/2013 5/11/2015 (3) $ — $ (74 ) $ 10,699 (4 ) 3.0 % — % 6/27/2014 6/30/2014 6/30/2017 $ 1 $ 10 $ 48,415 (2 ) 2.4 % 2.9 % 8/15/2014 6/1/2016 6/2/2019 $ (1,066 ) $ (270 ) $ 83,797 (2 ) 2.3 % 2.4 % 9/12/2014 8/1/2015 7/15/2019 $ (2,283 ) $ (1,326 ) $ 6,998 (2 ) 1.2 % 2.3 % 11/12/2014 11/15/2014 10/15/2017 $ (37 ) $ (35 ) $ 175,000 (2 ) 1.6 % 2.0 % 12/23/2014 12/19/2014 2/19/2019 $ (1,694 ) $ (881 ) $ 138,698 (2 ) 1.7 % 2.0 % 1/9/2015 12/10/2015 12/22/2019 $ (1,795 ) $ — $ 260,000 (4 ) 1.5 % — % 11/19/2015 11/19/2015 11/30/2018 $ 1,988 $ — FOOTNOTES: (1) The all-in rates are equal to the sum of the Strike and Credit Spread detailed above. (2) Amounts related to interest rate swaps held by the Company, or its equity method investments, which are recorded at fair value and included in either other assets or other liabilities in the accompanying consolidated balance sheets. (3) The loans associated with these derivatives were repaid during the year ended December 31, 2015. Refer to Note 10. “Indebtedness” for additional information. (4) Amounts related to the interest rate caps held by the Company, or its equity method investments, which are recorded at fair value and included in either other assets or other liabilities in the accompanying consolidated balance sheets.
Summary of the Gross and Net Presentation of Amounts Related to the Derivative Financial Instruments	The following summarizes the gross and net presentation of amounts related to the Company’s, or its equity method investments’, derivative financial instruments as of December 31, 2015 (in thousands): Gross and net amounts of asset (liability) as of December 31, 2015 Gross amounts as of December 31, 2015 Notional amount Gross amount Offset amount Net amount Financial Instruments Cash Collateral Net Amount $ 12,248 (2) $ (85 ) $ — $ (85 ) $ (85 ) $ — $ (85 ) $ 38,052 (2) $ (1,472 ) $ — $ (1,472 ) $ (1,472 ) $ — $ (1,472 ) $ 25,929 (2) $ (1,086 ) $ — $ (1,086 ) $ (1,086 ) $ — $ (1,086 ) $ 30,000 (3) $ — $ — $ ― $ ― $ — $ — $ 29,952 (3) $ — $ — $ ― $ ― $ — $ — $ 10,699 (4) $ 1 $ — $ 1 $ 1 $ — $ 1 $ 48,415 (2) $ (1,066 ) $ — $ (1,066 ) $ (1,066 ) $ — $ (1,066 ) $ 83,797 (2) $ (2,283 ) $ — $ (2,283 ) $ (2,283 ) $ — $ (2,283 ) $ 6,998 (2) $ (37 ) $ — $ (37 ) $ (37 ) $ — $ (37 ) $ 175,000 (2) $ (1,694 ) $ — $ (1,694 ) $ (1,694 ) $ — $ (1,694 ) $ 138,698 (2) $ (1,795 ) $ — $ (1,795 ) $ (1,795 ) $ — $ (1,795 ) $ 260,000 (4) $ 1,988 $ — $ 1,988 $ 1,988 $ — $ 1,988 The following summarizes the gross and net presentation of amounts related to the Company’s, or its equity method investments’, derivative financial instruments as of December 31, 2014 (in thousands): Gross and net amounts of asset (liability) as of December 31, 2014 Gross amounts as of December 31, 2014 Notional amount Gross amount Offset amount Net amount Financial Instruments Cash Collateral Net Amount $ 12,421 (2) $ (71 ) $ — $ (71 ) $ (71 ) $ — $ (71 ) $ 38,255 (2) $ (1,228 ) $ — $ (1,228 ) $ (1,228 ) $ — $ (1,228 ) $ 26,067 (2) $ (906 ) $ — $ (906 ) $ (906 ) $ — $ (906 ) $ 30,000 (3) $ (82 ) $ — $ (82 ) $ (82 ) $ — $ (82 ) $ 29,952 (3) $ (74 ) $ — $ (74 ) $ (74 ) $ — $ (74 ) $ 10,904 (4) $ 10 $ — $ 10 $ 10 $ — $ 10 $ 48,415 (2) $ (270 ) $ — $ (270 ) $ (270 ) $ — $ (270 ) $ 84,251 (2) $ (1,326 ) $ — $ (1,326 ) $ (1,326 ) $ — $ (1,326 ) $ 7,119 (2) $ (35 ) $ — $ (35 ) $ (35 ) $ — $ (35 ) $ 175,000 (2) $ (881 ) $ — $ (881 ) $ (881 ) $ — $ (881 ) FOOTNOTES: (1) The all-in rates are equal to the sum of the Strike and Credit Spread detailed above. (2) Amounts related to interest rate swaps held by the Company, or its equity method investments, which are recorded at fair value and included in either other assets or other liabilities in the accompanying consolidated balance sheets. (3) The loans associated with these derivatives were repaid during the year ended December 31, 2015. Refer to Note 10. “Indebtedness” for additional information. (4) Amounts related to the interest rate caps held by the Company, or its equity method investments, which are recorded at fair value and included in either other assets or other liabilities in the accompanying consolidated balance sheets.

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Proceeds From Common Stock Offering [Table Text Block]	The following table details the Company’s aggregate proceeds from its Offerings as of December 31, 2015 and December 31, 2014 (in millions): December 31, 2015 December 31, 2014 Subscriptions Reinvestment Plan Subscriptions Reinvestment Plan Proceeds Shares Proceeds Shares Proceeds Shares Proceeds Shares Initial Offering $ 1,271.4 125.1 $ 27.1 2.8 $ 1,114.2 110.2 $ 27.1 2.8 Follow-on Offering 394.6 37.4 36.8 3.7 ― ― ― ― $ 1,666.0 162.5 $ 63.9 6.5 $ 1,114.2 110.2 $ 27.1 2.8
Historical Offering Share Prices, Including the Prices Pursuant To the Reinvestment Plan and the Company's Monthly Distributions per Share	The following table details the Company’s historical share prices in its Offerings from inception through December 31, 2015, including the prices pursuant to the Reinvestment Plan and the Company’s monthly cash and stock distributions per share: Period Price per Share Reinvestment Plan Price per Share Monthly Cash Distributions Monthly Stock Distributions June 27, 2011 through December 10, 2013 $ 10.00 $ 9.50 $ 0.0333 0.0025 December 11, 2013 through November 3, 2014 $ 10.14 $ 9.64 $ 0.0338 0.0025 November 4, 2014 through December 31, 2015 (1) $ 10.58 $ 10.06 $ 0.0353 (2 ) FOOTNOTES: (1) The Company’s board of directors adopted an estimated NAV of $9.75 as of December 31, 2015. (2) The Company closed its Follow-On Offering on September 30, 2015 and discontinued its stock distributions concurrently. The monthly stock distributions were 0.0025 through September 30, 2015. 13. Equity (continued) For the years ended December 31, 2015, 2014 and 2013, the Company declared cash distributions of $63.2 million, $31.9 million and $14.2 million, respectively, of which $26.4 million, $14.2 million and $6.6 million, respectively, were paid in cash to stockholders and $36.8 million, $17.7 million and $7.6 million, respectively, were reinvested pursuant to the Reinvestment Plan. In addition, for the years ended December 31, 2015, 2014 and 2013, the Company declared and made stock distributions of approximately 3.2 million, 2.4 million and 1.1 million shares of common stock, respectively.
Tax Components Of Dividends Declared [Table Text Block]	The tax composition of the Company’s distributions declared for the years ended December 31, 2015, 2014 and 2013 were as follows: December 31, Distribution Type 2015 2014 2013 Taxable as ordinary income 37.8 % 30.8 % 0.0 % Taxable as capital gain 0.0 % 0.0 % 63.8 % Return of capital 62.2 % 69.2 % 36.2 %
Effect of Derivative Financial Instruments	The following table reflects the effect of derivative financial instruments held by Company, or its equity method investments, and included in the consolidated statements of comprehensive loss for the years ended December 31, 2015 and 2014 (in thousands): Gain (loss) recognized in other comprehensive loss on derivative financial instrument Location of gain (loss) reclassified into earnings Loss reclassified from AOCI into earnings Years Ended December 31, Years Ended December 31, Derivative Financial Instrument 2015 2014 2015 2014 Interest rate swaps $ (4,881 ) $ (3,915 ) Interest expense and loan cost amortization $ (4,110 ) $ (98 ) Interest rate caps (262 ) ― Not applicable ― ― Reclassification of interest rate swaps upon derecognition 236 ― Interest expense and loan cost amortization (236 ) ― Reclassification of interest rate swaps due to ineffectiveness 33 ― Interest expense and loan cost amortization (33 ) ― Interest rate cap held by unconsolidated joint venture (9 ) 10 Not applicable ― ― Total $ (4,883 ) $ (3,905 ) $ (4,379 ) $ (98 )

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Components of Income Tax Benefit (Expense)	The components of the income tax benefit (expense) for the years ended December 31, 2015, 2014 and 2013 were as follows (in thousands): Years Ended December 31, 2015 2014 2013 Current: Federal $ — $ — $ 13 State (378 ) (361 ) — Total current benefit (expense) (378 ) (361 ) 13 Deferred: Federal — — (25 ) State — — (6 ) Total deferred expense — — (31 ) Income tax expense $ (378 ) $ (361 ) $ (18 )
Significant Components of Deferred Tax Assets	Significant components of the Company’s deferred tax assets as of years ended December 31, 2015 and 2014 are as follows: 2015 2014 Carryforwards of net operating loss $ 5,220 $ 2,361 Prepaid rent 619 437 Valuation allowance (5,839 ) (2,798 ) Net deferred tax assets $ — $ —
Reconciliation of Income Tax Expense	A reconciliation of the income tax expense computed at the statutory federal tax rate on income before income taxes is as follows (in thousands): Years Ended December 31, 2015 2014 2013 Tax benefit computed at federal statutory rate $ 23,701 35.00 % $ 18,253 35.00 % $ 6,329 35.00 % Impact of REIT election (23,701 ) (35.00 )% (18,253 ) (35.00 )% (6,344 ) (35.08 )% State income tax expense (378 ) (0.56 )% (361 ) (0.69 )% (3 ) (0.02 )% Income tax expense $ (378 ) (0.56 )% $ (361 ) (0.69 )% $ (18 ) (0.10 )%

Concentration of Credit Risk (T

Concentration of Credit Risk (Tables)	12 Months Ended
	Dec. 31, 2015
Risks And Uncertainties [Abstract]
Tenants and Geographical Concentrations that Individually Accounted for 10% or More of Total Revenues	For the years ended December 31, 2015, 2014 and 2013 the Company had the following tenant and geographical concentrations that individually accounted for 10% or more of total revenues: Type of December 31, Concentration 2015 2014 2013 TSMM Management, LLC (1) Tenant 5.7 % 7.7 % 26.5 % State of Texas (2) Geographical 16.5 % 22.1 % 5.4 % FOOTNOTES: (1) Includes contractual rental income from operating leases, capital reserve income, straight-line rent adjustments, and amortization of lease intangibles. Failure of this tenant to pay contractual lease payments could significantly impact the Company’s results of operations and cash flow from operations, which in turn would impact its ability to pay debt service and make distributions to stockholders. (2) Includes rental income from operating leases, resident fees and services, and tenant reimbursement income. Adverse economic developments in this geographical area could significantly impact the Company’s results of operations and cash flow from operations, which in turn would impact its ability to pay debt service and make distributions to stockholders.

Selected Quarterly Financial 45

Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Data	The following table presents selected unaudited quarterly financial data for the years ended December 31, 2015 and 2014 (in thousands, except per share data): 2015 Quarters First Second Third Fourth Full Year Total revenues $ 65,033 $ 67,476 $ 79,904 $ 88,112 $ 300,525 Operating loss (7,909 ) (3,650 ) (7,925 ) (4,824 ) (24,308 ) Net loss attributable to common stockholders (18,000 ) (13,410 ) (19,225 ) (17,420 ) (68,055 ) Weighted average number of shares outstanding (basic and diluted) (1) 131,880 146,257 162,730 173,766 153,804 Loss per share of common stock (basic and diluted) $ (0.14 ) $ (0.09 ) $ (0.12 ) $ (0.10 ) $ (0.44 ) 2014 Quarters First Second Third Fourth Full Year Total revenues $ 33,275 $ 42,464 $ 49,660 $ 55,685 $ 181,084 Operating loss (7,375 ) (3,381 ) (6,243 ) (6,179 ) (23,178 ) Net loss attributable to common stockholders (12,523 ) (12,303 ) (12,204 ) (15,481 ) (52,511 ) Weighted average number of shares outstanding (basic and diluted) (1) 67,526 77,426 89,597 107,705 85,710 Loss per share of common stock (basic and diluted) $ (0.19 ) $ (0.16 ) $ (0.14 ) $ (0.14 ) $ (0.61 ) FOOTNOTE: (1) For the purposes of determining the weighted average number of shares of common stock outstanding, stock distributions issued are treated as if they were outstanding for all periods presented.

Organization - Additional Infor

Organization - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
CNL properties Trust, Inc. organized date	Jun. 8, 2010
Follow-On Offering
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Maximum expected date to sell shares of common stock	Sep. 30, 2015

Summary of Significant Accoun47

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)OperatingSegment	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Summary Of Significant Accounting Policies [Line Items]
Interest expense and loan cost amortization	$ 45.3	$ 31.5	$ 11.5
Capitalized amount of interest	2.3	1	$ 0.7
Accumulated amortization of loan costs	$ 7.8	$ 4.3
Lease, initial term	3 months
Lease termination, notice period	30 days
Annualized return of investment	6.00%
Number of segment | OperatingSegment	1
Building and Building Improvements | Maximum
Summary Of Significant Accounting Policies [Line Items]
Real estate assets, estimated useful life	39 years
Building and Building Improvements | Minimum
Summary Of Significant Accounting Policies [Line Items]
Real estate assets, estimated useful life	15 years

Summary of Significant Accoun48

Summary of Significant Accounting Policies - Acquisition Fees and Expenses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accounting Policies [Abstract]
Capitalized as real estate under development	$ 4,200	$ 3,400	$ 100
Capitalized as investment in unconsolidated entities			500
Capitalized as origination costs to the note receivable			100
Acquisition fees and expenses	21,526	23,931	18,840
Total acquisition costs incurred	$ 25,700	$ 27,300	$ 19,500

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail)	1 Months Ended									12 Months Ended
	Nov. 30, 2015USD ($)	Oct. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Aug. 31, 2015USD ($)	Aug. 31, 2014USD ($)	Jul. 31, 2014USD ($)	Jun. 30, 2014USD ($)	Feb. 28, 2014USD ($)	Jan. 31, 2013USD ($)	Dec. 31, 2015USD ($)Property	Dec. 31, 2014USD ($)Property
Business Acquisition [Line Items]
Number of properties acquired | Property										39	35
Revenues attributable to properties										$ 18,000,000	$ 55,000,000
Net loss attributable to properties										$ 8,800,000	24,300,000
Co-venture partner's interest in the acquired business										5.00%
Payment to acquire interest in joint ventures											1,584,000
Gain from change of control in equity method investment											$ 2,798,000
Senior Housing
Business Acquisition [Line Items]
Number of properties acquired | Property										15	14
Medical Office
Business Acquisition [Line Items]
Number of properties acquired | Property										22	15
Post-acute Care Hospital
Business Acquisition [Line Items]
Number of properties acquired | Property										1	3
Acute Care Hospital
Business Acquisition [Line Items]
Number of properties acquired | Property										1	3
Waterstone at Greenville (Greenville, SC)
Business Acquisition [Line Items]
Purchase price of land				$ 2,300,000
Maximum development budget				$ 27,000,000
Location				Greenville, South Carolina
Date Acquired				Aug. 31, 2015
Welbrook Senior Living Grand Junction (Grand Junction, CO)
Business Acquisition [Line Items]
Purchase price of land			$ 1,100,000
Maximum development budget			$ 13,100,000
Location			Grand Junction, Colorado
Date Acquired			Sep. 30, 2015
Wellmore of Lexington (Lexington, SC)
Business Acquisition [Line Items]
Purchase price of land			$ 2,300,000
Maximum development budget			$ 53,900,000
Location			Lexington, South Carolina
Date Acquired			Sep. 30, 2015
Fieldstone at Pear Orchard (Yakima, Washington)
Business Acquisition [Line Items]
Purchase price of land		$ 1,000,000
Maximum development budget		$ 15,300,000
Location		Yakima, Washington
Date Acquired		Oct. 31, 2015
Percentage of membership interest acquired		75.00%
Co-venture partner's interest in the acquired business		25.00%
The Dogwood Forest of Grayson (Grayson, GA)
Business Acquisition [Line Items]
Purchase price of land	$ 1,800,000
Maximum development budget	$ 26,000,000
Location	Grayson, Georgia
Date Acquired	Nov. 30, 2015
Wellmore of Tega Cay (Tega Cay, South Carolina)
Business Acquisition [Line Items]
Purchase price of land								$ 2,800,000
Maximum development budget								$ 35,600,000
Location								Tega Cay, South Carolina
Date Acquired								Feb. 28, 2014
Watercrest at Katy (Katy, Texas)
Business Acquisition [Line Items]
Purchase price of land							$ 4,000,000
Maximum development budget							$ 38,200,000
Location							Katy, Texas
Date Acquired							Jun. 30, 2014
Percentage of membership interest acquired							95.00%
Co-venture partner's interest in the acquired business							5.00%
HarborChase of Shorewood (Shorewood, Wisconsin)
Business Acquisition [Line Items]
Purchase price of land						$ 2,200,000
Maximum development budget						$ 25,600,000
Location						Shorewood, Wisconsin
Date Acquired						Jul. 31, 2014
Montecito Joint Venture
Business Acquisition [Line Items]
Percentage of membership interest acquired					10.00%				90.00%
Co-venture partner's interest in the acquired business									10.00%
Value of equity issued in acquisition									$ 7,000,000
Percentage of membership interest acquired										100.00%
Payment to acquire interest in joint ventures					$ 1,600,000					$ 1,584,000
Fair value of equity interest in Montecito Joint Venture immediately before the acquisition date					5,700,000
Gain from change of control in equity method investment					$ 2,800,000					$ 2,798,000

Acquisitions of Properties (Det

Acquisitions of Properties (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Purchase Price		$ 880,873	$ 905,282
North Carolina Specialty Hospital
Business Acquisition [Line Items]
Location		Durham, NC
Structure		Modified Lease
Date Acquired		Jun. 29, 2015
Purchase Price		$ 31,830
Novi Orthopaedic Center
Business Acquisition [Line Items]
Location		Novi, MI
Structure		Modified Lease
Date Acquired		Feb. 13, 2015
Purchase Price	[1]	$ 30,500
UT Cancer Institute Building
Business Acquisition [Line Items]
Location		Knoxville, TN
Structure		Modified Lease
Date Acquired		Feb. 20, 2015
Purchase Price		$ 33,660
Bend Memorial Clinic MOB
Business Acquisition [Line Items]
Location		Bend, OR
Structure		Modified Lease
Date Acquired		May 11, 2015
Purchase Price	[1]	$ 36,000
Stoneterra Medical Plaza
Business Acquisition [Line Items]
Location		San Antonio, TX
Structure		Modified Lease
Date Acquired		May 29, 2015
Purchase Price	[1]	$ 15,050
Triangle Orthopaedic Durham
Business Acquisition [Line Items]
Location		Durham, NC
Structure		Modified Lease
Date Acquired		Jun. 29, 2015
Purchase Price		$ 21,275
Triangle Orthopaedic Oxford
Business Acquisition [Line Items]
Location		Oxford, NC
Structure		Modified Lease
Date Acquired		Jun. 29, 2015
Purchase Price		$ 4,728
Triangle Orthopaedic Chapel Hill
Business Acquisition [Line Items]
Location		Chapel Hill, NC
Structure		Modified Lease
Date Acquired		Jun. 29, 2015
Purchase Price		$ 3,258
Triangle Orthopaedic Roxboro
Business Acquisition [Line Items]
Location		Roxboro, NC
Structure		Modified Lease
Date Acquired		Jun. 29, 2015
Purchase Price		$ 2,067
Doctor's Park Building B
Business Acquisition [Line Items]
Location		Chula Vista, CA ("San Diego")
Structure		Modified Lease
Date Acquired		Jun. 30, 2015
Purchase Price	[1]	$ 5,000
Doctor's Park Building C
Business Acquisition [Line Items]
Location		Chula Vista, CA ("San Diego")
Structure		Modified Lease
Date Acquired		Jun. 30, 2015
Purchase Price	[1]	$ 10,000
540 New Waverly Place
Business Acquisition [Line Items]
Location		Cary, NC ("Raleigh")
Structure		Modified Lease
Date Acquired		Jul. 20, 2015
Purchase Price	[1]	$ 15,000
MedHelp
Business Acquisition [Line Items]
Location		Birmingham, AL
Structure		Modified Lease
Date Acquired		Jul. 31, 2015
Purchase Price	[1]	$ 15,000
Patriot Professional Center
Business Acquisition [Line Items]
Location		Frederick, MD ("Baltimore")
Structure		Modified Lease
Date Acquired		Jul. 31, 2015
Purchase Price	[1]	$ 16,950
Liberty Professional Center
Business Acquisition [Line Items]
Location		Frederick, MD ("Baltimore")
Structure		Modified Lease
Date Acquired		Jul. 31, 2015
Purchase Price	[1]	$ 7,300
Broadway Medical Plaza 1
Business Acquisition [Line Items]
Location		Columbia, MO
Structure		Modified Lease
Date Acquired		Aug. 21, 2015
Purchase Price	[1]	$ 10,700
Broadway Medical Plaza 2
Business Acquisition [Line Items]
Location		Columbia, MO
Structure		Modified Lease
Date Acquired		Aug. 21, 2015
Purchase Price	[1]	$ 13,100
Broadway Medical Plaza 4
Business Acquisition [Line Items]
Location		Columbia, MO
Structure		Modified Lease
Date Acquired		Aug. 21, 2015
Purchase Price	[1]	$ 14,200
Center One
Business Acquisition [Line Items]
Location		Jacksonville, FL
Structure		Modified Lease
Date Acquired		Nov. 30, 2015
Purchase Price	[1]	$ 34,362
Red Bank MOB
Business Acquisition [Line Items]
Location		Cincinnati, OH
Structure		Modified Lease
Date Acquired		Dec. 14, 2015
Purchase Price	[1]	$ 10,610
Siena Pavilion IV
Business Acquisition [Line Items]
Location		Henderson, NV ("Las Vegas")
Structure		Modified Lease
Date Acquired		Dec. 18, 2015
Purchase Price		$ 6,990
Siena Pavilion V
Business Acquisition [Line Items]
Location		Henderson, NV ("Las Vegas")
Structure		Modified Lease
Date Acquired		Dec. 18, 2015
Purchase Price		$ 27,859
Siena Pavilion VI
Business Acquisition [Line Items]
Location		Henderson, NV ("Las Vegas")
Structure		Modified Lease
Date Acquired		Dec. 18, 2015
Purchase Price		$ 19,474
Cobalt Rehabilitation Hospital Surprise
Business Acquisition [Line Items]
Location		Surprise, AZ ("Phoenix")
Structure		Triple-net Lease
Date Acquired		Dec. 30, 2015
Purchase Price	[1]	$ 23,660
Fieldstone Memory Care
Business Acquisition [Line Items]
Location		Yakima, WA
Structure		Managed
Date Acquired		Mar. 31, 2015
Purchase Price	[1]	$ 12,400
Primrose Retirement Community of Anderson
Business Acquisition [Line Items]
Location		Anderson, IN ("Muncie")
Structure		Triple-net Lease
Date Acquired		May 29, 2015
Purchase Price		$ 21,086
Primrose Retirement Community of Lancaster
Business Acquisition [Line Items]
Location		Lancaster, OH ("Columbus")
Structure		Triple-net Lease
Date Acquired		May 29, 2015
Purchase Price		$ 25,657
Primrose Retirement Community of Wausau
Business Acquisition [Line Items]
Location		Wausau, WI ("Green Bay")
Structure		Triple-net Lease
Date Acquired		May 29, 2015
Purchase Price		$ 20,307
Superior Residences of Panama City
Business Acquisition [Line Items]
Location		Panama City Beach, FL
Structure		Managed
Date Acquired		Jul. 15, 2015
Purchase Price	[1]	$ 20,000
Parc at Duluth
Business Acquisition [Line Items]
Location		Duluth, GA ("Atlanta")
Structure		Triple-net Lease
Date Acquired		Jul. 31, 2015
Purchase Price		$ 52,800
Parc at Piedmont
Business Acquisition [Line Items]
Location		Marietta, GA ("Atlanta")
Structure		Triple-net Lease
Date Acquired		Jul. 31, 2015
Purchase Price		$ 50,800
The Pavilion at Great Hills
Business Acquisition [Line Items]
Location		Austin, TX
Structure		Managed
Date Acquired		Jul. 31, 2015
Purchase Price		$ 35,000
The Hampton at Meadows Place
Business Acquisition [Line Items]
Location		Meadows Place, TX ("Houston")
Structure		Managed
Date Acquired		Jul. 31, 2015
Purchase Price		$ 28,400
The Beacon at Gulf Breeze
Business Acquisition [Line Items]
Location		Gulf Breeze, FL ("Pensacola")
Structure		Managed
Date Acquired		Jul. 31, 2015
Purchase Price		$ 28,000
Palmilla Senior Living
Business Acquisition [Line Items]
Location		Albuquerque, NM
Structure		Managed
Date Acquired		Sep. 30, 2015
Purchase Price		$ 47,600
Cedar Lake Assisted Living and Memory Care
Business Acquisition [Line Items]
Location		Lake Zurich, IL ("Chicago")
Structure		Managed
Date Acquired		Sep. 30, 2015
Purchase Price		$ 30,000
The Shores of Lake Phalen
Business Acquisition [Line Items]
Location		Maplewood, MN ("St. Paul")
Structure		Managed
Date Acquired		Nov. 10, 2015
Purchase Price	[1]	$ 29,250
Park Place Senior Living at WingHaven
Business Acquisition [Line Items]
Location		O'Fallon, MO ("St. Louis")
Structure		Managed
Date Acquired		Dec. 17, 2015
Purchase Price		$ 54,000
Hearthside Senior Living of Collierville
Business Acquisition [Line Items]
Location		Collierville, TN ("Memphis")
Structure		Managed
Date Acquired		Dec. 29, 2015
Purchase Price	[1]	$ 17,000
Memorial Hermann Orthopedic & Spine Hospital
Business Acquisition [Line Items]
Location		Bellaire, TX ("Houston")
Structure		Triple-net Lease
Date Acquired			Jun. 2, 2014
Purchase Price			$ 49,000
Hurst Specialty Hospital
Business Acquisition [Line Items]
Location		Hurst, TX ("Dallas/Fort Worth")
Structure		Modified Lease
Date Acquired			Aug. 15, 2014
Purchase Price			$ 29,465
Beaumont Specialty Hospital
Business Acquisition [Line Items]
Location		Beaumont, TX ("Houston")
Structure		Modified Lease
Date Acquired			Aug. 15, 2014
Purchase Price			$ 33,600
Chula Vista Medical Arts Center - Plaza I
Business Acquisition [Line Items]
Location		Chula Vista, CA ("San Diego")
Structure		Modified Lease
Date Acquired			Jan. 21, 2014
Purchase Price	[1]		$ 17,863
MHOSH MOB
Business Acquisition [Line Items]
Location		Bellaire, TX ("Houston")
Structure		Modified Lease
Date Acquired			Jun. 2, 2014
Purchase Price			$ 27,000
Lee Hughes MOB
Business Acquisition [Line Items]
Location		Glendale, CA ("Los Angeles")
Structure		Modified Lease
Date Acquired			Sep. 24, 2014
Purchase Price	[1]		$ 29,870
Northwest Medical Park Building
Business Acquisition [Line Items]
Location		Margate, FL ("Fort Lauderdale")
Structure		Modified Lease
Date Acquired			Oct. 31, 2014
Purchase Price	[1]		$ 10,804
Newburyport Medical Center
Business Acquisition [Line Items]
Location		Newburyport, MA ("Boston")
Structure		Modified Lease
Date Acquired			Oct. 31, 2014
Purchase Price	[1]		$ 18,000
ProMed Building I
Business Acquisition [Line Items]
Location		Yuma, AZ
Structure		Modified Lease
Date Acquired			Dec. 19, 2014
Purchase Price	[1]		$ 11,000
Midtown Medical Plaza
Business Acquisition [Line Items]
Location		Charlotte, NC
Structure		Modified Lease
Date Acquired			Dec. 22, 2014
Purchase Price			$ 54,695
Presbyterian Medical Tower
Business Acquisition [Line Items]
Location		Charlotte, NC
Structure		Modified Lease
Date Acquired			Dec. 22, 2014
Purchase Price			$ 36,333
Metroview Professional Building
Business Acquisition [Line Items]
Location		Charlotte, NC
Structure		Modified Lease
Date Acquired			Dec. 22, 2014
Purchase Price			$ 17,262
Physicians Plaza Huntersville
Business Acquisition [Line Items]
Location		Huntersville, NC ("Charlotte")
Structure		Modified Lease
Date Acquired			Dec. 22, 2014
Purchase Price			$ 29,964
Matthews Medical Office Building
Business Acquisition [Line Items]
Location		Matthews, NC ("Charlotte")
Structure		Modified Lease
Date Acquired			Dec. 22, 2014
Purchase Price			$ 21,227
Outpatient Care Center
Business Acquisition [Line Items]
Location		Clyde, NC ("Asheville")
Structure		Modified Lease
Date Acquired			Dec. 22, 2014
Purchase Price			$ 15,450
Clyde, NC ("Asheville") 330 Physicians Center
Business Acquisition [Line Items]
Location		Rome, GA
Structure		Modified Lease
Date Acquired			Dec. 22, 2014
Purchase Price			$ 30,099
Spivey Station Physicians Center
Business Acquisition [Line Items]
Location		Atlanta, GA
Structure		Modified Lease
Date Acquired			Dec. 22, 2014
Purchase Price			$ 14,379
Spivey Station ASC Building
Business Acquisition [Line Items]
Location		Atlanta, GA
Structure		Modified Lease
Date Acquired			Dec. 22, 2014
Purchase Price			$ 18,591
Oklahoma City Inpatient Rehabilitation Hospital
Business Acquisition [Line Items]
Location		Oklahoma City, OK
Structure		Modified Lease
Date Acquired			Jul. 15, 2014
Purchase Price			$ 25,504
Las Vegas Inpatient Rehabilitation Hospital
Business Acquisition [Line Items]
Location		Las Vegas, NV
Structure		Modified Lease
Date Acquired			Jul. 15, 2014
Purchase Price			$ 22,292
South Bend Inpatient Rehabilitation Hospital
Business Acquisition [Line Items]
Location		Mishawaka, IN ("South Bend")
Structure		Modified Lease
Date Acquired			Jul. 15, 2014
Purchase Price			$ 20,240
Prestige Senior Living Auburn Meadows
Business Acquisition [Line Items]
Location		Auburn, WA ("Seattle")
Structure		Managed
Date Acquired			Feb. 3, 2014
Purchase Price			$ 21,930
Prestige Senior Living Bridgewood
Business Acquisition [Line Items]
Location		Vancouver, WA ("Portland")
Structure		Managed
Date Acquired			Feb. 3, 2014
Purchase Price			$ 22,096
Prestige Senior Living Monticello Park
Business Acquisition [Line Items]
Location		Longview, WA
Structure		Managed
Date Acquired			Feb. 3, 2014
Purchase Price			$ 27,360
Prestige Senior Living Rosemont
Business Acquisition [Line Items]
Location		Yelm, WA
Structure		Managed
Date Acquired			Feb. 3, 2014
Purchase Price			$ 16,877
Prestige Senior Living West Hills
Business Acquisition [Line Items]
Location		Corvallis, OR
Structure		Managed
Date Acquired			Mar. 3, 2014
Purchase Price			$ 14,986
Isle at Cedar Ridge
Business Acquisition [Line Items]
Location		Cedar Park, TX ("Austin")
Structure		Managed
Date Acquired			Feb. 28, 2014
Purchase Price			$ 21,630
HarborChase of Plainfield
Business Acquisition [Line Items]
Location		Plainfield, IL
Structure		Managed
Date Acquired			Mar. 28, 2014
Purchase Price			$ 26,500
Legacy Ranch Alzheimer’s Special Care Center
Business Acquisition [Line Items]
Location		Midland, TX
Structure		Managed
Date Acquired			Mar. 28, 2014
Purchase Price			$ 11,960
The Springs Alzheimer’s Special Care Center
Business Acquisition [Line Items]
Location		San Angelo, TX
Structure		Managed
Date Acquired			Mar. 28, 2014
Purchase Price			$ 10,920
Isle at Watercrest – Bryan
Business Acquisition [Line Items]
Location		Bryan, TX
Structure		Managed
Date Acquired			Apr. 21, 2014
Purchase Price			$ 22,050
Watercrest at Bryan
Business Acquisition [Line Items]
Location		Bryan, TX
Structure		Managed
Date Acquired			Apr. 21, 2014
Purchase Price			$ 28,035
Isle at Watercrest – Mansfield
Business Acquisition [Line Items]
Location		Mansfield, TX ("Dallas/Fort Worth")
Structure		Managed
Date Acquired			May 5, 2014
Purchase Price			$ 31,300
Watercrest at Mansfield
Business Acquisition [Line Items]
Location		Mansfield, TX ("Dallas/Fort Worth")
Structure		Managed
Date Acquired			Jun. 30, 2014
Purchase Price			$ 49,000
Fairfield Village of Layton
Business Acquisition [Line Items]
Location		Layton, UT ("Salt Lake City")
Structure		Managed
Date Acquired			Nov. 20, 2014
Purchase Price			$ 68,000
[1]	This represents a single property or portfolio acquisition that is not considered material to the Company and as such no pro forma financial information has been included related to this property.

Schedule of Purchase Price Allo

Schedule of Purchase Price Allocation (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Aug. 31, 2014
Business Acquisition [Line Items]
Land and land improvements		$ 91,419	$ 60,565
Buildings and building improvements		702,611	732,740
Furniture, fixtures and equipment		11,746	12,260
Intangibles	[1]	86,601	110,325
Other liabilities		(5,175)	(12,037)
Liabilities assumed		(6,905)	(1,000)
Assumed mortgage note payable	[2]	(6,976)	(27,657)
Net assets acquired		873,321	875,196
Contingent purchase price consideration		(6,481)	(12,395)
Total purchase price consideration		866,840	$ 862,801
Montecito Joint Venture
Business Acquisition [Line Items]
Land and land improvements				$ 6,324
Buildings and building improvements				13,533
Intangibles	[3]			2,691
Other liabilities				(175)
Assumed mortgage note payable	[4]			(12,331)
Net assets acquired		$ 10,129		10,129
Working capital, net				$ 87
[1]	At the acquisition date, the weighted-average amortization period on the acquired lease intangibles for the years ended December 31, 2015 and 2014 were approximately 7.7 years for both periods, respectively. The acquired lease intangibles during the year ended December 31, 2015 were comprised of approximately $81.8 million and $4.8 million of in-place lease intangibles and other lease intangibles, respectively, and the acquired lease intangibles during the year ended December 31, 2014 were comprised of approximately $97.3 million and $13.0 million of in-place lease intangibles and other lease intangibles, respectively.
[2]	During the year ended December 31, 2015, the Company assumed a discount on a below-market mortgage note payable assumed of approximately $0.2 million at the acquisition date. During the year ended December 31, 2014, the Company assumed a premium on an above-market mortgage note payable of approximately $0.4 million at the acquisition date.
[3]	At the acquisition date, the weighted-average amortization period on the acquired lease intangibles was approximately 5.1 years and was comprised of approximately $1.9 million and $0.8 million of in-place lease intangibles and other lease intangibles, respectively.
[4]	At the acquisition date, the fair value of the mortgage note payable assumed reflects an approximate $0.6 million discount on the below-market mortgage note payable assumed.

Schedule of Purchase Price Al52

Schedule of Purchase Price Allocation (Parenthetical) (Detail) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
		Aug. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Weighted-average amortization period on the acquired lease intangibles			7 years 8 months 12 days	7 years 8 months 12 days
Acquired lease intangibles	[1]		$ 86,601	$ 110,325
Mortgage note payable, discount			200	400
Montecito Joint Venture
Business Acquisition [Line Items]
Weighted-average amortization period on the acquired lease intangibles		5 years 1 month 6 days
Acquired lease intangibles	[2]	$ 2,691
Mortgage note payable, discount		600
In-place lease intangibles
Business Acquisition [Line Items]
Acquired lease intangibles			81,800	4,800
In-place lease intangibles | Montecito Joint Venture
Business Acquisition [Line Items]
Acquired lease intangibles		1,900
Other lease intangibles
Business Acquisition [Line Items]
Acquired lease intangibles			$ 97,300	$ 13,000
Other lease intangibles | Montecito Joint Venture
Business Acquisition [Line Items]
Acquired lease intangibles		$ 800
[1]	At the acquisition date, the weighted-average amortization period on the acquired lease intangibles for the years ended December 31, 2015 and 2014 were approximately 7.7 years for both periods, respectively. The acquired lease intangibles during the year ended December 31, 2015 were comprised of approximately $81.8 million and $4.8 million of in-place lease intangibles and other lease intangibles, respectively, and the acquired lease intangibles during the year ended December 31, 2014 were comprised of approximately $97.3 million and $13.0 million of in-place lease intangibles and other lease intangibles, respectively.
[2]	At the acquisition date, the weighted-average amortization period on the acquired lease intangibles was approximately 5.1 years and was comprised of approximately $1.9 million and $0.8 million of in-place lease intangibles and other lease intangibles, respectively.

Schedule of Unaudited Proforma

Schedule of Unaudited Proforma Results of Operations (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Business Combinations [Abstract]
Revenues		$ 346,071	$ 307,552	$ 242,415
Net loss	[1]	$ (66,613)	$ (62,071)	$ (59,527)
Loss per share of common stock (basic and diluted)		$ (0.39)	$ (0.42)	$ (0.57)
Weighted average number of shares of common stock outstanding (basic and diluted)	[2]	170,735	148,443	104,079
[1]	The unaudited pro forma results for the years ended December 31, 2015 and 2014 were adjusted to exclude approximately $11.3 million and $20.5 million, respectively, of acquisition related expenses directly attributable to the properties acquired during the years ended December 31, 2015 and 2014. The unaudited pro forma results for the years ended December 31, 2014 and 2013 were adjusted to include these charges as if the properties were acquired on January 1, 2014 and 2013, respectively.
[2]	As a result of the acquired properties being treated as operational since January 1, 2014 and 2013, the Company assumed approximately 31.6 million and 40.8 million additional shares were issued as of January 1, 2014 and 2013, respectively. Consequently, the weighted average number of shares outstanding was adjusted to reflect this amount of shares being issued as of January 1, 2014 and 2013, instead of actual dates on which the shares were issued, and such shares were treated as outstanding as of the beginning of the period presented.

Schedule of Unaudited Proform54

Schedule of Unaudited Proforma Results of Operations (Parenthetical) (Detail) - USD ($) $ in Thousands, shares in Millions	Jan. 02, 2014	Jan. 02, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Acquisition fees and expenses			$ 21,526	$ 23,931	$ 18,840
Shares issued to fund acquisition	31.6	40.8
Proforma results adjusted to exclude
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Acquisition fees and expenses			$ 11,300	$ 20,500

Gain Resulted From Change of Co

Gain Resulted From Change of Control in Equity Method Investment (Detail) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Aug. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Fair value of net assets acquired		$ 873,321	$ 875,196
Less: Cash paid to acquire co-venture partner's interest			(1,584)
Gain on purchase of controlling interest of investment in unconsolidated entity			$ 2,798
Montecito Joint Venture
Schedule of Equity Method Investments [Line Items]
Fair value of net assets acquired	$ 10,129	10,129
Less: Previous investment in Montecito Joint Venture		(5,747)
Less: Cash paid to acquire co-venture partner's interest	(1,600)	(1,584)
Gain on purchase of controlling interest of investment in unconsolidated entity	$ 2,800	$ 2,798

Schedule of Real Estate Investm

Schedule of Real Estate Investment Properties (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Real Estate [Abstract]
Land and land improvements	$ 229,046	$ 128,662
Building and building improvements	2,297,336	1,545,614
Furniture, fixtures and equipment	60,601	36,319
Less: accumulated depreciation	(116,807)	(53,095)
Real estate investment properties, net	2,470,176	1,657,500
Real estate under development, including land	62,521	47,153
Total real estate assets, net	$ 2,532,697	$ 1,704,653

Real Estate Assets, Net - Addit

Real Estate Assets, Net - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Real Estate Investment Properties
Real Estate Properties [Line Items]
Depreciation expense	$ 63.6	$ 39.1	$ 12

Real Estate under Development w

Real Estate under Development with Third-Party Developers (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Real Estate Properties [Line Items]
Real Estate Development Costs Incurred	$ 62,521	[1]
(Unaudited) Remaining Development Budget	$ 143,189	[2]
Raider Ranch (Lubbock, TX)
Real Estate Properties [Line Items]
Developer	South Bay Partners, Ltd
Real Estate Development Costs Incurred	$ 9,942	[1]
(Unaudited) Remaining Development Budget	$ 2,274	[2]
Watercrest at Katy (Katy, TX)
Real Estate Properties [Line Items]
Developer	South Bay Partners, Ltd	[3]
Real Estate Development Costs Incurred	$ 26,565	[1],[3]
(Unaudited) Remaining Development Budget	$ 16,245	[2],[3]
Welbrook Senior Living Grand Junction (Grand Junction, CO)
Real Estate Properties [Line Items]
Developer	Embree Asset Group, Inc.
Real Estate Development Costs Incurred	$ 3,198	[1]
(Unaudited) Remaining Development Budget	$ 10,636	[2]
Waterstone at Greenville (Greenville, SC)
Real Estate Properties [Line Items]
Developer	T&D Greenville, LLC
Real Estate Development Costs Incurred	$ 7,185	[1]
(Unaudited) Remaining Development Budget	$ 21,287	[2]
Wellmore of Lexington (Lexington, SC)
Real Estate Properties [Line Items]
Developer	Maxwell Group, Inc.
Real Estate Development Costs Incurred	$ 8,723	[1]
(Unaudited) Remaining Development Budget	$ 46,282	[2]
The Dogwood Forest of Grayson (Grayson, GA)
Real Estate Properties [Line Items]
Developer	Solomon Development Services, LLC
Real Estate Development Costs Incurred	$ 3,973	[1]
(Unaudited) Remaining Development Budget	$ 23,024	[2]
Fieldstone at Pear Orchard (Yakima, WA)
Real Estate Properties [Line Items]
Developer	Cascadia Development, LLC	[4]
Real Estate Development Costs Incurred	$ 2,606	[1],[4]
(Unaudited) Remaining Development Budget	$ 13,067	[2],[4]
Tranquillity at Fredericktowne (Frederick, MD)
Real Estate Properties [Line Items]
Developer	Capital Health Partners
Real Estate Development Costs Incurred	$ 235	[1]
(Unaudited) Remaining Development Budget	$ 5,649	[2]
Brookridge Heights Assisted Living & Memory Care (Marquette, MI)
Real Estate Properties [Line Items]
Developer	Capital Health Partners
Real Estate Development Costs Incurred	$ 94	[1]
(Unaudited) Remaining Development Budget	$ 4,725	[2]
[1]	This amount represents land and total capitalized costs for GAAP purposes for the acquisition, development and construction of the seniors housing community or post-acute care facility as of December 31, 2015. Amounts include investment services fees, asset management fees, interest expense and other costs capitalized during the development period.
[2]	This amount includes preleasing and marketing costs which will be expensed as incurred.
[3]	This property is owned through a joint venture in which the Company’s initial ownership interest is 95%.
[4]	This property is owned through a joint venture in which the Company’s initial ownership interest is 75%.

Real Estate under Development59

Real Estate under Development with Third-Party Developers (Parenthetical) (Detail) - Corporate Joint Venture	Dec. 31, 2015
Watercrest at Katy (Katy, TX)
Real Estate Properties [Line Items]
Percentage of ownership interest	95.00%
Fieldstone at Pear Orchard (Yakima, Washington)
Real Estate Properties [Line Items]
Percentage of ownership interest	75.00%

Schedule of Net Book Value of I

Schedule of Net Book Value of Intangibles (Detail) - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets And Liabilities [Line Items]
Less: accumulated amortization, assets		$ (74,895)	$ (30,250)
Intangible assets, net		172,452	140,264
Less: accumulated amortization, liabilities		2,581	1,014
In-place lease intangibles
Finite-Lived Intangible Assets And Liabilities [Line Items]
Gross carrying amount, assets		220,917	148,880
Above-market lease intangibles
Finite-Lived Intangible Assets And Liabilities [Line Items]
Gross carrying amount, assets		13,960	11,320
Gross carrying amount, liabilities		(3,488)	(2,273)
Below-market ground lease intangibles
Finite-Lived Intangible Assets And Liabilities [Line Items]
Gross carrying amount, assets		12,470	10,314
Gross carrying amount, liabilities		(12,095)	(13,243)
Other liabilities
Finite-Lived Intangible Assets And Liabilities [Line Items]
Intangible liabilities, net	[1]	$ (13,002)	$ (14,502)
[1]	Intangible liabilities, net are included in other liabilities in the accompanying consolidated balance sheets.

Intangibles net - Additional In

Intangibles net - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Finite-Lived Intangible Assets And Liabilities [Line Items]
Amortization expense on intangible assets	$ 44,600	$ 25,100	$ 5,000
Amortization expense on intangible liabilities	1,600	800	200
Impairment provision of intangible assets	4,700
Rental Income from Operating Leases
Finite-Lived Intangible Assets And Liabilities [Line Items]
Amortization expense on intangible assets	2,000	1,000	200
Amortization expense on intangible liabilities	1,500	800	200
Property Operating Expenses
Finite-Lived Intangible Assets And Liabilities [Line Items]
Amortization expense on intangible assets	300	100	100
Amortization expense on intangible liabilities	80	8	3
Depreciation And Amortization
Finite-Lived Intangible Assets And Liabilities [Line Items]
Amortization expense on intangible assets	$ 42,300	$ 24,000	$ 4,700

Schedule of Estimated Future Am

Schedule of Estimated Future Amortization and Weighted Average Remaining Useful Life (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets And Liabilities [Line Items]
Intangible assets, net	$ 172,452	$ 140,264
Finite-Lived Intangible Assets
Finite-Lived Intangible Assets And Liabilities [Line Items]
2,016	45,151
2,017	31,064
2,018	19,251
2,019	13,663
2,020	11,449
Thereafter	51,874
Intangible assets, net	172,452
Intangible Liabilities
Finite-Lived Intangible Assets And Liabilities [Line Items]
2,016	1,666
2,017	1,503
2,018	1,346
2,019	1,183
2,020	955
Thereafter	6,349
Intangible liabilities, net	$ 13,002
In-place lease intangibles
Finite-Lived Intangible Assets And Liabilities [Line Items]
Weighted average useful life, assets	4 years 8 months 12 days
In-place lease intangibles | Finite-Lived Intangible Assets
Finite-Lived Intangible Assets And Liabilities [Line Items]
2,016	$ 42,932
2,017	29,041
2,018	17,414
2,019	12,128
2,020	10,124
Thereafter	38,070
Intangible assets, net	$ 149,709
Above-market lease intangibles
Finite-Lived Intangible Assets And Liabilities [Line Items]
Weighted average useful life, assets	5 years 10 months 24 days
Weighted average useful life, liabilities	38 years 1 month 6 days
Above-market lease intangibles | Finite-Lived Intangible Assets
Finite-Lived Intangible Assets And Liabilities [Line Items]
2,016	$ 1,899
2,017	1,703
2,018	1,517
2,019	1,215
2,020	1,005
Thereafter	3,402
Intangible assets, net	10,741
Above-market lease intangibles | Intangible Liabilities
Finite-Lived Intangible Assets And Liabilities [Line Items]
2,016	89
2,017	89
2,018	89
2,019	89
2,020	89
Thereafter	2,954
Intangible liabilities, net	$ 3,399
Below-market ground lease intangibles
Finite-Lived Intangible Assets And Liabilities [Line Items]
Weighted average useful life, assets	37 years 7 months 6 days
Weighted average useful life, liabilities	5 years 6 months
Below-market ground lease intangibles | Finite-Lived Intangible Assets
Finite-Lived Intangible Assets And Liabilities [Line Items]
2,016	$ 320
2,017	320
2,018	320
2,019	320
2,020	320
Thereafter	10,402
Intangible assets, net	12,002
Below-market ground lease intangibles | Intangible Liabilities
Finite-Lived Intangible Assets And Liabilities [Line Items]
2,016	1,577
2,017	1,414
2,018	1,257
2,019	1,094
2,020	866
Thereafter	3,395
Intangible liabilities, net	$ 9,603

Operating Leases - Additional I

Operating Leases - Additional Information (Detail) - Triple Net Lease Agreements $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)Property
Operating Leased Assets [Line Items]
Number of properties owned	84
Weighted average remaining lease term	7 years 4 months 24 days
Total annualized property tax | $	$ 2.9
Minimum
Operating Leased Assets [Line Items]
Lease, expiration year	2,016
Extended lease period	2 years
Maximum
Operating Leased Assets [Line Items]
Lease, expiration year	2,038
Extended lease period	10 years
Single Tenant Properties
Operating Leased Assets [Line Items]
Number of properties owned	39
Real estate investment properties, percentage leased under operating leases	100.00%
Multi Tenant Properties
Operating Leased Assets [Line Items]
Number of properties owned	45

Schedule of Future Minimum Leas

Schedule of Future Minimum Lease Payments to be Received Under Non-Cancellable Operating Leases (Detail) $ in Thousands	Dec. 31, 2015USD ($)
Leases [Abstract]
2,016	$ 112,660
2,017	106,582
2,018	99,076
2,019	90,885
2,020	84,552
Thereafter	437,055
Total	$ 930,810

Variable Interest Entities (VIE

Variable Interest Entities (VIEs) - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Variable interest entity, description	As of December 31, 2015, the Company has 17 wholly-owned subsidiaries, which are VIEs due to the following factors and circumstances: (1) Two of these subsidiaries are single property entities, designed to own and lease their respective properties to single tenants, for which buy-out options are held by the respective tenants that are formula based. (2) Four of these subsidiaries are single property entities, designed to own and lease their respective properties to multiple tenants, which are subject to either a ground lease or an air rights lease that include buy-out and put options held by either the tenant or landlord under the applicable lease. (3) Eight of these subsidiaries are entities with real estate under development or completed developments in which there is either insufficient equity at risk due to the development nature of each entity or the third-party developers have an opportunity to earn promoted interest payments after certain net operating income targets and internal rate of return targets have been met. (4) Two of these subsidiaries are joint ventures with real estate under development in which there is insufficient equity at risk due to the development nature of each joint venture. In addition, one of the third-party developer has an opportunity to earn promoted interest payments after certain net operating income targets and internal rate of return targets have been met. (5) One of these subsidiaries is a joint venture with equity interest that consists of non-substantive voting rights.
Maximum exposure to loss VIEs limits	$ 148.1

Aggregate Carrying Amount and M

Aggregate Carrying Amount and Major Classifications of Consolidated Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Variable Interest Entity [Line Items]
Real estate investment properties, net	$ 2,470,176	$ 1,657,500
Real estate under development, including land	62,521	47,153
Intangibles, net	172,452	140,264
Cash	68,922	91,355	$ 44,209	$ 18,262
Deferred rent and lease incentives	23,477	8,240
Other assets	21,302	19,738
Loan costs, net	14,358	14,012
Restricted cash	10,287	10,753
Mortgages and other notes payable, net	840,435	853,561
Other liabilities	41,938	27,448
Due to related parties	1,803	2,999
VIEs
Variable Interest Entity [Line Items]
Real estate investment properties, net	219,971	174,449
Real estate under development, including land	58,994	47,153
Intangibles, net	23,540	25,519
Cash	4,427	6,280
Deferred rent and lease incentives	6,942	2,978
Other assets	1,506	511
Loan costs, net	2,625	2,300
Restricted cash	1,461	5,304
Mortgages and other notes payable, net	153,735	137,754
Accounts payable and accrued liabilities	981	2,317
Accrued development costs	10,669	7,951
Other liabilities	3,644	4,949
Due to related parties	$ 136	$ 219

Ground and Air Rights Leases -

Ground and Air Rights Leases - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Ground and Air Rights Leases
Operating Leased Assets [Line Items]
Operating lease rental expense	$ 1.7	$ 0.5	$ 0.1

Schedule of Future Minimum Le68

Schedule of Future Minimum Lease Payments Under Ground and Air Rights Leases (Detail) - Ground and Air Rights Leases $ in Thousands	Dec. 31, 2015USD ($)
Operating Leased Assets [Line Items]
2,016	$ 1,957
2,017	1,984
2,018	2,016
2,019	2,039
2,020	2,061
Thereafter	113,559
Total	$ 123,616

Contingent Purchase Price Con69

Contingent Purchase Price Consideration - Additional Information (Detail) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015USD ($)ft²	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2015USD ($)ft²	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2012USD ($)
Business Acquisition, Contingent Consideration [Line Items]
Contingent purchase price consideration									$ 7,500	$ 268	$ 507
Operating income (loss)	$ (4,824)	$ (7,925)	$ (3,650)	$ (7,909)	$ (6,179)	$ (6,243)	$ (3,381)	$ (7,375)	(24,308)	(23,178)	(13,990)
Fair value of contingent consideration	$ 6,481				12,395				6,481	12,395
Capital Health Communities
Business Acquisition, Contingent Consideration [Line Items]
Contingent purchase price consideration												$ 7,000
Capital Health Communities | Yield Guarantee
Business Acquisition, Contingent Consideration [Line Items]
Operating income (loss)									7,100	7,000	6,900
Received purchase consideration									$ 7,000
Medical Portfolio I
Business Acquisition, Contingent Consideration [Line Items]
Contingent purchase price consideration											507
Expandable lease space under earn-out agreement | ft²	10,000								10,000
Contingent consideration arrangements, description									The Chestnut Commons Earn-Out fee was equal to (a) the base rent due for the first full year of the lease applicable to the expansion space divided by 8% minus (b) the costs incurred by the Company in connection with the exercise by Cleveland Clinic of its option for the expansion space, including tenant improvement costs, multiplied by 50%.
Earn out expiration date									2015-08
Fair value of contingent consideration					$ 268					$ 268	$ 507
Superior Residences of Panama City
Business Acquisition, Contingent Consideration [Line Items]
Contingent purchase price consideration									$ 3,000
Additional purchase price consideration									$ 4,000
Additional purchase price consideration period									36 months
The Shores of Lake Phalen
Business Acquisition, Contingent Consideration [Line Items]
Contingent purchase price consideration									$ 800
Additional purchase price consideration									$ 800
Additional purchase price consideration period									12 months
Siena Pavilion VI
Business Acquisition, Contingent Consideration [Line Items]
Contingent purchase price consideration									$ 3,800
Additional purchase price consideration									$ 3,300
Additional purchase price consideration period									6 months
Additional tenant improvements consideration									$ 500
Center One
Business Acquisition, Contingent Consideration [Line Items]
Contingent purchase price consideration									$ 2,800
Contingent consideration arrangements, description									The purchase price be placed in an escrow account as the seller provided a rent guarantee to the Company in connection with two seller leased spaces at the property for a term equal to the earlier of five years or at such time as a suitable replacement tenant can be found (“Center One Rent Guarantee”).
Fair value of contingent consideration	$ 1,000								$ 1,000

Fair Value of Contingent Purcha

Fair Value of Contingent Purchase Price Consideration (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning balance	$ (12,395)
Contingent consideration in connection with acquisition	(7,500)	$ (268)	$ (507)
Ending balance	(6,481)	(12,395)
Capital Health Communities
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning balance	4,078	4,488	2,664
Contingent consideration in connection with acquisition				$ (7,000)
Change in fair value	321	2,191	1,824
Yield Guaranty payment received from seller	(4,399)	(2,601)
Ending balance		4,078	4,488	$ 2,664
Medical Portfolio I
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning balance	(268)	(507)
Contingent consideration in connection with acquisition			(507)
Change in fair value	$ 268	239
Ending balance		(268)	$ (507)
South Bay II Communities
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Contingent consideration in connection with acquisition		(12,395)
Change in fair value		(1,800)
Contingent consideration payment		$ 14,195

Details of Indebtedness (Detail

Details of Indebtedness (Detail) - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Mortgages payable and other notes payable	[1]	$ 840,656	$ 853,776
Premium (discount), net	[2]	(221)	(215)
Total mortgages and other notes payable, net		840,435	853,561
Credit Facility		660,000	206,403
Total borrowings		1,500,435	1,059,964
First Term Loan Facility
Debt Instrument [Line Items]
Credit Facility	[3]	175,000	175,000
Revolving Credit Facility
Debt Instrument [Line Items]
Credit Facility	[4]	225,000	31,403
Second Term Loan Facility
Debt Instrument [Line Items]
Credit Facility	[5]	260,000
Fixed rate debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable		391,639	370,854
Variable Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable	[3]	$ 449,017	$ 482,922
[1]	As of December 31, 2015, the Company’s mortgages and other notes payable are collateralized by 65 properties with total carrying value of approximately $1.4 billion.
[2]	Premium (discount), net is reflective of the Company recording mortgage note payables assumed at fair value on the respective acquisition dates.
[3]	As of December 31, 2015 and December 31, 2014, the Company had entered into interest rate swaps with notional amounts of approximately $480.7 million and $182.1 million, respectively, which were settling on a monthly basis. In addition, as of December 31, 2015 and December 31, 2014, the Company had entered into forward-starting interest rate swaps for total notional amounts of approximately $48.4 million and $269.4 million, respectively, in order to hedge the Company’s exposure to this variable rate debt in future periods. Refer to Note 12. “Derivative Financial Instruments” for additional information.
[4]	As of December 31, 2015 and December 31, 2014, availability under the Revolving Credit Facility was approximately $20.0 million and $14.0 million, respectively, based on the value of the properties in the unencumbered pool of assets supporting the loan.
[5]	As of December 31, 2015, the Company had entered into an interest rate cap with a notional amount of approximately $260 million. Refer to Note 12. “Derivative Financial Instruments” for additional information.

Details of Indebtedness (Parent

Details of Indebtedness (Parenthetical) (Detail) $ in Millions	Dec. 31, 2015USD ($)Property	Dec. 31, 2014USD ($)
Revolving Credit Facility
Debt Instrument [Line Items]
Debt Instrument, Current borrowing capacity	$ 20	$ 14
Secured Mortgages and Other Notes Payable
Debt Instrument [Line Items]
Number of properties owned | Property	65
Mortgages and other notes payable carrying value of collateral	$ 1,400
Interest Rate Swap
Debt Instrument [Line Items]
Notional amount of derivative contract	480.7	182.1
Interest Rate Cap
Debt Instrument [Line Items]
Notional amount of derivative contract	260
Forward Contracts
Debt Instrument [Line Items]
Notional amount of derivative contract	$ 48.4	$ 269.4

Schedule of Maturities of Indeb

Schedule of Maturities of Indebtedness (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Net Balance
2,016	$ 36,758
2,017	262,276
2,018	287,172
2,019	491,631
2,020	333,318
Thereafter	89,280
Total borrowings	$ 1,500,435	$ 1,059,964

Indebtedness - Additional Infor

Indebtedness - Additional Information (Detail)	1 Months Ended	12 Months Ended
	Nov. 30, 2015USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)Extension
Debt Instrument [Line Items]
Mortgage loan amortizable period		30 years
Line of credit facility extension period			12 months
After Modification
Debt Instrument [Line Items]
Aggregate maximum principal amount available for borrowing			$ 700,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Fair value of notes payable		$ 660,000,000	206,400,000
Carrying value of notes payable		$ 660,000,000	206,400,000
Aggregate maximum principal amount available for borrowing			$ 230,000,000
Term of credit facility			36 months
Number of extension options available | Extension			2
Line of credit facility extension period			12 months
Description of covenants		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 and (viii) limitations on certain types of investments and with respect to the pool of properties supporting borrowings under the Credit Facilities, minimum debt service coverage ratio, minimum weighted average occupancy, and remaining lease terms, as well as property type, MSA, operator, and asset value concentration limits. The limitations on distributions 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.
First Term Loan Facility
Debt Instrument [Line Items]
Aggregate maximum principal amount available for borrowing			$ 175,000,000
Term of credit facility			50 months
Number of extension options available | Extension			1
Second Term Loan Facility | 30-day LIBOR
Debt Instrument [Line Items]
Aggregate maximum principal amount available for borrowing	$ 260,000,000
Term of credit facility	60 months
Mortgage Loans
Debt Instrument [Line Items]
Mortgage loan amortizable period		25 years
Fair value of notes payable		$ 844,600,000	$ 868,500,000
Other notes
Debt Instrument [Line Items]
Carrying value of notes payable		$ 840,400,000	$ 853,600,000
Maximum | Revolving Credit Facility | 30-day LIBOR
Debt Instrument [Line Items]
Fees paid range on unused commitments, percentage			0.25%
Maximum | Mortgage Loans | Two Specialty Hospitals
Debt Instrument [Line Items]
Mortgage loan amortizable period		25 years
Minimum | Revolving Credit Facility | 30-day LIBOR
Debt Instrument [Line Items]
Fees paid range on unused commitments, percentage			0.15%
Minimum | Mortgage Loans | Two Specialty Hospitals
Debt Instrument [Line Items]
Mortgage loan amortizable period		15 years

Schedule of Indebtedness (Detai

Schedule of Indebtedness (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Payment Terms		Monthly interest only payments through December 2018; principal payments thereafter based on a 30-year amortization schedule
Principal and interest payments amortizable period		30 years
Interest payments ending date		2018-12
Maturity Date	[1]	Dec. 1, 2020
Mortgages payable and other notes payable	[2]	$ 840,656	$ 853,776
Total borrowings		1,500,435	1,059,964
Fixed rate debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable		391,639	370,854
Variable Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable	[3]	$ 449,017	482,922
Mortgage Loans
Debt Instrument [Line Items]
Principal and interest payments amortizable period		25 years
Mortgage Loans | Fixed rate debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable		$ 391,639	370,854
Mortgage Loans | Pacific Northwest II Communities
Debt Instrument [Line Items]
Interest on Loan accrues - Fixed rate	[4],[5]	4.30%
Payment Terms	[5]	Monthly principal and interest payments based on a 25-year amortization schedule
Principal and interest payments amortizable period	[5]	25 years
Maturity Date	[1],[5]	Dec. 5, 2018
Mortgage Loans | Pacific Northwest II Communities | Fixed rate debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable	[5]	$ 210,665	215,904
Mortgage Loans | Capital Health Communities
Debt Instrument [Line Items]
Interest on Loan accrues - Fixed rate	[4]	4.25%
Payment Terms		Monthly principal and interest payments based on a 25-year amortization schedule
Principal and interest payments amortizable period		25 years
Maturity Date	[1]	Jan. 5, 2020
Mortgage Loans | Capital Health Communities | Fixed rate debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable		$ 37,889	43,684
Mortgage Loans | Primrose II Communities
Debt Instrument [Line Items]
Interest on Loan accrues - Fixed rate	[4]	3.81%
Payment Terms		Monthly principal and interest payments based on a 30-year amortization schedule
Principal and interest payments amortizable period		30 years
Maturity Date	[1]	Jun. 1, 2020
Mortgage Loans | Primrose II Communities | Fixed rate debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable		$ 22,473	22,913
Mortgage Loans | Novi Orthopaedic Center
Debt Instrument [Line Items]
Interest on Loan accrues - Fixed rate	[4]	3.61%
Payment Terms		Monthly interest only payments through June 2018; principal and interest payments thereafter based on a 25-year amortization schedule
Principal and interest payments amortizable period		25 years
Interest payments ending date		2018-06
Maturity Date	[1]	Jun. 15, 2020
Mortgage Loans | Novi Orthopaedic Center | Fixed rate debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable		$ 19,825
Mortgage Loans | ProMed Building I
Debt Instrument [Line Items]
Interest on Loan accrues - Fixed rate	[4],[6]	3.64%
Payment Terms		Monthly principal and interest payments based upon a 25-year amortization schedule
Principal and interest payments amortizable period		25 years
Maturity Date	[1]	Jan. 15, 2022
Mortgage Loans | ProMed Building I | Fixed rate debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable		$ 7,050
Mortgage Loans | Primrose I Communities
Debt Instrument [Line Items]
Interest on Loan accrues - Fixed rate	[4],[7]	4.11%
Payment Terms	[7]	Monthly principal and interest payments based on a 30-year amortization schedule
Principal and interest payments amortizable period	[7]	30 years
Maturity Date	[1],[7]	Sep. 1, 2022
Mortgage Loans | Primrose I Communities | Fixed rate debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable	[7]	$ 52,048	53,060
Mortgage Loans | Watercrest at Mansfield
Debt Instrument [Line Items]
Interest on Loan accrues - Fixed rate	[4],[8]	4.68%
Payment Terms	[8]	Monthly principal and interest payments based on a total payment of $143,330
Maturity Date	[1],[8]	Jun. 1, 2023
Mortgage Loans | Watercrest at Mansfield | Fixed rate debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable	[8]	$ 26,628	27,073
Mortgage Loans | 540 New Waverly Place
Debt Instrument [Line Items]
Interest on Loan accrues - Fixed rate	[4],[9]	4.08%
Payment Terms	[9]	Monthly principal and interest payments based upon a 25-year amortization schedule
Principal and interest payments amortizable period	[9]	25 years
Maturity Date	[1],[9]	May 31, 2028
Mortgage Loans | 540 New Waverly Place | Fixed rate debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable	[9]	$ 7,048
Mortgage Loans | LaPorte Cancer Center Westville, Indiana
Debt Instrument [Line Items]
Interest on Loan accrues - Fixed rate	[4]	4.25%
Payment Terms		Monthly principal and interest payments based on a 25-year amortization schedule
Principal and interest payments amortizable period		25 years
Maturity Date	[1]	Jun. 14, 2028
Mortgage Loans | LaPorte Cancer Center Westville, Indiana | Fixed rate debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable		$ 8,013	8,220
Mortgage Loans | Lee Hughes MOB
Debt Instrument [Line Items]
Payment Terms		Monthly principal and interest payments based on a 30-year amortization schedule
Principal and interest payments amortizable period		30 years
Maturity Date	[1]	Sep. 5, 2016
Mortgage Loans | Lee Hughes MOB | Variable Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable		$ 18,632	19,162
Mortgage Loans | Perennial Communities | Variable Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable			30,000
Mortgage Loans | Medical Portfolio I | Variable Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable			34,720
Mortgage Loans | Northwest Medical Park
Debt Instrument [Line Items]
Payment Terms	[10]	Monthly principal and interest payments based upon a 30-year amortization schedule
Principal and interest payments amortizable period	[10]	30 years
Maturity Date	[1],[10]	Oct. 31, 2017
Mortgage Loans | Northwest Medical Park | Variable Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable	[10]	$ 7,008	7,129
Mortgage Loans | Claremont Medical Office
Debt Instrument [Line Items]
Payment Terms	[11]	Monthly principal and interest payments based on a 30-year amortization schedule
Principal and interest payments amortizable period	[11]	30 years
Maturity Date	[1],[11]	Jan. 15, 2018
Mortgage Loans | Claremont Medical Office | Variable Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable	[11]	$ 12,683	12,958
Mortgage Loans | Knoxville MOBs
Debt Instrument [Line Items]
Payment Terms	[12]	Monthly interest only payments for the first 18 months; principal and interest payments thereafter based on a 30-year amortization schedule
Principal and interest payments amortizable period	[12]	30 years
Maturity Date	[1],[12]	Jul. 10, 2018
Mortgage Loans | Knoxville MOBs | Variable Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable	[12]	$ 38,087	38,609
Mortgage Loans | Calvert MOBs
Debt Instrument [Line Items]
Payment Terms	[13]	Monthly interest only payments for the first 18 months; principal and interest payments thereafter based on a 30-year amortization schedule
Principal and interest payments amortizable period	[13]	30 years
Maturity Date	[1],[13]	Aug. 29, 2018
Mortgage Loans | Calvert MOBs | Variable Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable	[13]	$ 25,950	26,274
Mortgage Loans | MHOSH MOB
Debt Instrument [Line Items]
Payment Terms	[14]	Monthly principal and interest payments based on a 20-year amortization schedule
Principal and interest payments amortizable period	[14]	20 years
Maturity Date	[1],[14]	Jun. 2, 2019
Mortgage Loans | MHOSH MOB | Variable Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable	[14]	$ 48,832	49,624
Mortgage Loans | Medical Portfolio II
Debt Instrument [Line Items]
Payment Terms	[15]	Monthly principal and interest payments based on a 25-year amortization schedule
Principal and interest payments amortizable period	[15]	25 years
Maturity Date	[1],[15]	Jul. 14, 2019
Mortgage Loans | Medical Portfolio II | Variable Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable	[15]	$ 83,295	85,127
Mortgage Loans | Southeast Medical Office Properties
Debt Instrument [Line Items]
Payment Terms	[16]	Monthly principal and interest payments based on a 25-year amortization schedule
Principal and interest payments amortizable period	[16]	25 years
Maturity Date	[1],[16]	Dec. 22, 2019
Mortgage Loans | Southeast Medical Office Properties | Variable Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable	[16]	$ 160,206	142,684
Construction Loan | Raider Ranch Development
Debt Instrument [Line Items]
Payment Terms		Monthly interest only payments through October 2017; principal and interest payments thereafter based on a 25-year amortization schedule
Principal and interest payments amortizable period		25 years
Interest payments ending date		2017-10
Maturity Date	[1]	Oct. 27, 2017
Construction Loan | Raider Ranch Development | Variable Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable		$ 7,528	1
Construction Loan | Watercrest at Katy (Katy, Texas)
Debt Instrument [Line Items]
Payment Terms		Monthly interest only payments through December 2017; principal payments thereafter based on a 30-year amortization schedule
Principal and interest payments amortizable period		30 years
Maturity Date	[1]	Dec. 27, 2017
Construction Loan | Watercrest at Katy (Katy, Texas) | Variable Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable		$ 10,632
Construction Loan | Wellmore of Tega Cay (Tega Cay, SC)
Debt Instrument [Line Items]
Payment Terms		Monthly interest only payments through February 2019; principal and interest payments thereafter based on a 25-year amortization schedule
Principal and interest payments amortizable period		25 years
Interest payments ending date		2019-02
Maturity Date	[1]	Feb. 6, 2019
Construction Loan | Wellmore of Tega Cay (Tega Cay, SC) | Variable Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable		$ 23,695	8,007
Construction Loan | HarborChase of Shorewood (Shorewood, Wisconsin)
Debt Instrument [Line Items]
Payment Terms		Monthly interest only payments through June 2017; principal and interest payments thereafter based on a 25-year amortization schedule
Principal and interest payments amortizable period		25 years
Interest payments ending date		2017-06
Maturity Date	[1]	Jul. 15, 2019
Construction Loan | HarborChase of Shorewood (Shorewood, Wisconsin) | Variable Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable		$ 12,469
Construction Loan | Wellmore of Lexington (Lexington, SC)
Debt Instrument [Line Items]
Payment Terms		Monthly interest only payments through September 2019; principal payments thereafter based on a 30-year amortization schedule
Principal and interest payments amortizable period		30 years
Interest payments ending date		2019-09
Maturity Date	[1]	Sep. 13, 2019
Construction Loan | Harborchase of Villages Crossing | Variable Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable	[17]		16,589
Construction Loan | Dogwood Forest of Acworth | Variable Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable	[18]		12,038
Construction Loan | Waterstone
Debt Instrument [Line Items]
Payment Terms		Monthly interest only payments through September 2018; principal payments thereafter based on a 30-year amortization schedule
Principal and interest payments amortizable period		30 years
Interest payments ending date		2018-09
Maturity Date	[1]	Sep. 1, 2020
Construction Loan | Fieldstone at Pear Orchard (Yakima, Washington)
Debt Instrument [Line Items]
Payment Terms		Monthly interest only payments through September 2018; principal payments thereafter based on a 25-year amortization schedule
Principal and interest payments amortizable period		25 years
Interest payments ending date		2018-09
Maturity Date	[1]	Oct. 15, 2020
Mortgage and Construction Loans
Debt Instrument [Line Items]
Total borrowings		$ 840,656	853,776
Mortgage and Construction Loans | Variable Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable		$ 449,017	$ 482,922
30-day LIBOR | Mortgage Loans | Lee Hughes MOB
Debt Instrument [Line Items]
Interest accrues on loan in addition to LIBOR	[4]	1.85%
30-day LIBOR | Mortgage Loans | Northwest Medical Park
Debt Instrument [Line Items]
Interest accrues on loan in addition to LIBOR	[4],[10]	2.30%
30-day LIBOR | Mortgage Loans | Claremont Medical Office
Debt Instrument [Line Items]
Interest accrues on loan in addition to LIBOR	[4],[11]	2.60%
30-day LIBOR | Mortgage Loans | Knoxville MOBs
Debt Instrument [Line Items]
Interest accrues on loan in addition to LIBOR	[4],[12]	2.50%
30-day LIBOR | Mortgage Loans | Calvert MOBs
Debt Instrument [Line Items]
Interest accrues on loan in addition to LIBOR	[4],[13]	2.50%
30-day LIBOR | Mortgage Loans | MHOSH MOB
Debt Instrument [Line Items]
Interest accrues on loan in addition to LIBOR	[4],[14]	2.85%
Floor rate	[4],[14]	0.40%
30-day LIBOR | Mortgage Loans | Medical Portfolio II
Debt Instrument [Line Items]
Interest accrues on loan in addition to LIBOR	[4],[15]	2.35%
Floor rate	[4],[15]	0.25%
30-day LIBOR | Mortgage Loans | Southeast Medical Office Properties
Debt Instrument [Line Items]
Interest accrues on loan in addition to LIBOR	[4],[16]	2.00%
30-day LIBOR | Construction Loan | Raider Ranch Development
Debt Instrument [Line Items]
Interest accrues on loan in addition to LIBOR	[4]	3.50%
Floor rate	[4]	0.50%
30-day LIBOR | Construction Loan | Watercrest at Katy (Katy, Texas)
Debt Instrument [Line Items]
Interest accrues on loan in addition to LIBOR	[4]	2.75%
30-day LIBOR | Construction Loan | Wellmore of Tega Cay (Tega Cay, SC)
Debt Instrument [Line Items]
Interest accrues on loan in addition to LIBOR	[4]	5.40%
Floor rate	[4]	0.50%
30-day LIBOR | Construction Loan | HarborChase of Shorewood (Shorewood, Wisconsin)
Debt Instrument [Line Items]
Interest accrues on loan in addition to LIBOR	[4]	3.00%
Floor rate	[4]	2.00%
30-day LIBOR | Construction Loan | Wellmore of Lexington (Lexington, SC)
Debt Instrument [Line Items]
Interest accrues on loan in addition to LIBOR	[4]	2.50%
30-day LIBOR | Construction Loan | Waterstone
Debt Instrument [Line Items]
Interest accrues on loan in addition to LIBOR	[4]	3.00%
30-day LIBOR | Construction Loan | Fieldstone at Pear Orchard (Yakima, Washington)
Debt Instrument [Line Items]
Interest accrues on loan in addition to LIBOR	[4]	2.90%
30-day LIBOR | Construction Loan | Dogwood Forest of Grayson
Debt Instrument [Line Items]
Interest accrues on loan in addition to LIBOR	[4]	3.00%
[1]	Represents the initial maturity date (or, as applicable, the maturity date as extended). The maturity date may be extended beyond the date shown subject to certain lender conditions.
[2]	As of December 31, 2015, the Company’s mortgages and other notes payable are collateralized by 65 properties with total carrying value of approximately $1.4 billion.
[3]	As of December 31, 2015 and December 31, 2014, the Company had entered into interest rate swaps with notional amounts of approximately $480.7 million and $182.1 million, respectively, which were settling on a monthly basis. In addition, as of December 31, 2015 and December 31, 2014, the Company had entered into forward-starting interest rate swaps for total notional amounts of approximately $48.4 million and $269.4 million, respectively, in order to hedge the Company’s exposure to this variable rate debt in future periods. Refer to Note 12. “Derivative Financial Instruments” for additional information.
[4]	The 30-day and 90-day LIBOR was approximately 0.43% and 0.61%, respectively, as of December 31, 2015 and approximately 0.17% and 0.25%, respectively, as of December 31, 2014.
[5]	The Pacific Northwest Loan may be prepaid, in whole or in part, with a prepayment premium equal to the greater of: (i) one percent (1%) of the principal amount being prepaid, multiplied by the quotient of the number of full months remaining until the maturity date of the loan (calculated as of the prepayment date) divided by the number of full months comprising the term of the loan; or (b) a “make-whole” payment equal to the present value of the loan less the amount of principal and accrued interest being prepaid calculated as of the prepayment date for the period between that date and the maturity date.
[6]	Beginning January 2020, the interest rate transitions to variable rate based on 30-day LIBOR plus 2.20% per annum.
[7]	If prepaid prior to March 1, 2022, the Primrose I Communities Mortgage Loan is subject to a prepayment penalty in an amount equal to the greater of (i) 1% of the principal being repaid, or (ii) an amount calculated on the principal being repaid, multiplied by the difference between the Primrose I Communities Mortgage Loan interest rate, and a calculated yield rate tied to the rates on applicable U.S. Treasuries. If prepayment is made between March 1, 2022, and May 31, 2022, the prepayment penalty will be 1% of the outstanding principal balance of the Primrose I Communities Mortgage Loan. No prepayment fee is required if the Primrose I Communities Mortgage Loan is prepaid between June 1, 2022 and maturity. Partial prepayment of a loan is not permitted. The loan is transferable upon sale of the assets subject to lender approval.
[8]	The balance for this loan excludes a remaining premium of $0.3 million related to the mortgage note payable assumed being recorded at fair value on the acquisition date.
[9]	The balance for this loan excludes a remaining premium of $0.1 million related to the mortgage note payable assumed being recorded at fair value on the acquisition date.
[10]	The Company entered into an interest rate swap with a remaining notional amount of $7.0 million; see Note 12. “Derivative Financial Instruments” for additional information.
[11]	The balance for this loan excludes a remaining discount of $0.4 million related to the mortgage note payable assumed being recorded at fair value on the acquisition date. In addition, the Company entered into a three-year forward interest rate swap with a remaining notional amount of $12.2 million; see Note 12. “Derivative Financial Instruments” for additional information
[12]	The Company entered into an interest rate swap with a remaining notional amount of $38.1 million; see Note 12. “Derivative Financial Instruments” for additional information.
[13]	The Company entered into an interest rate swap with a remaining notional amount of $25.9 million; see Note 12. “Derivative Financial Instruments” for additional information.
[14]	The Company entered into a three-year forward interest rate swap with a remaining notional amount of $48.4 million; see Note 12. “Derivative Financial Instruments” for additional information.
[15]	The Company entered into an interest rate swap with a remaining notional amount of $83.8 million; see Note 12. “Derivative Financial Instruments” for additional information.
[16]	The Company entered into an interest rate swap with a remaining notional amount of $138.7 million; see Note 12. “Derivative Financial Instruments” for additional information.
[17]	In December 2015, the Company repaid its $16.5 million outstanding construction loan on the HarborChase of Villages Crossing property prior to its scheduled maturity. In connection therewith, the Company wrote-off approximately $0.1 million in unamortized loan costs as interest expense and loan cost amortization in the accompanying consolidated statements of operations.
[18]	In December 2015, the Company repaid its $12.4 million outstanding construction loan on the Dogwood Forest of Acworth property prior to its scheduled maturity. In connection therewith, the Company wrote-off approximately $0.1 million in unamortized loan costs as interest expense and loan cost amortization in the accompanying consolidated statements of operations.

Schedule of Indebtedness (Paren

Schedule of Indebtedness (Parenthetical) (Detail) - USD ($)	1 Months Ended			12 Months Ended
	Dec. 31, 2015	Apr. 30, 2015	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
30-day LIBOR
Debt Instrument [Line Items]
Interest accrues on loan, LIBOR	0.43%			0.43%	0.17%
Ninety Days London Interbank Offered Rate
Debt Instrument [Line Items]
Interest accrues on loan, LIBOR	0.61%			0.61%	0.25%
Mortgage Loans | Medical Portfolio I Properties
Debt Instrument [Line Items]
Extinguishment of outstanding debt		$ 34,500,000
Write off of unamortized loan cost		200,000
Reclassified amount in connection with the derecognition of the cash flow hedge		$ (200,000)
Mortgage Loans | Northwest Medical Park
Debt Instrument [Line Items]
Notional amount of derivative contract	$ 7,000,000			$ 7,000,000
Mortgage Loans | Knoxville MOBs
Debt Instrument [Line Items]
Notional amount of derivative contract	38,100,000			38,100,000
Mortgage Loans | Calvert MOBs
Debt Instrument [Line Items]
Notional amount of derivative contract	25,900,000			25,900,000
Mortgage Loans | Medical Portfolio II
Debt Instrument [Line Items]
Notional amount of derivative contract	83,800,000			83,800,000
Mortgage Loans | Southeast Medical Office Properties
Debt Instrument [Line Items]
Notional amount of derivative contract	138,700,000			138,700,000
Mortgage Loans | Variable Rate Debt | Claremont Medical Office
Debt Instrument [Line Items]
Remaining loan discount	400,000			400,000
Mortgage Loans | 3-year forward interest rate swap | Claremont Medical Office
Debt Instrument [Line Items]
Notional amount of derivative contract	12,200,000			$ 12,200,000
Derivative contract, maturity period				3 years
Mortgage Loans | 3-year forward interest rate swap | Houston Orthopedic And Spine Hospital
Debt Instrument [Line Items]
Notional amount of derivative contract	48,400,000			$ 48,400,000
Derivative contract, maturity period				3 years
Construction Loan | Harborchase of Villages Crossing
Debt Instrument [Line Items]
Write off of unamortized loan cost	100,000
Reclassified amount in connection with the derecognition of the cash flow hedge	16,500,000
Construction Loan | Dogwood Forest of Acworth
Debt Instrument [Line Items]
Write off of unamortized loan cost	100,000
Reclassified amount in connection with the derecognition of the cash flow hedge	12,400,000
Watercrest at Mansfield | Mortgage Loans
Debt Instrument [Line Items]
Monthly principal and interest payment				$ 143,330
Watercrest at Mansfield | Mortgage Loans | Fixed rate debt
Debt Instrument [Line Items]
Remaining loan premium	300,000			$ 300,000
Knoxville MOBs | Mortgage Loans
Debt Instrument [Line Items]
Monthly interest only payments				P18M
Calvert MOBs | Mortgage Loans
Debt Instrument [Line Items]
Monthly interest only payments				P18M
Pacific Northwest II Communities | Mortgage Loans | Minimum
Debt Instrument [Line Items]
Percentage of prepayment penalty on principal repaid				1.00%
ProMed Building I | Mortgage Loans | 30-day LIBOR
Debt Instrument [Line Items]
Interest accrues on loan in addition to LIBOR				2.20%
Primrose I Communities | Mortgage Loans | Minimum | If prepaid prior to March 1, 2022
Debt Instrument [Line Items]
Percentage of prepayment penalty on principal repaid				1.00%
540 New Waverly Place | Mortgage Loans | Fixed rate debt
Debt Instrument [Line Items]
Remaining loan premium	$ 100,000			$ 100,000
Perennial Communities | Mortgage Loans
Debt Instrument [Line Items]
Extinguishment of outstanding debt			$ 30,000,000
Write off of unamortized loan cost			200,000
Reclassified amount in connection with the derecognition of the cash flow hedge			$ 100,000

Related Party Arrangements - Ad

Related Party Arrangements - Additional Information (Detail) - USD ($)		1 Months Ended	12 Months Ended
		Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Jun. 30, 2013
Related Party Transaction [Line Items]
Selling commissions			7.00%
Marketing support fees			3.00%
Investment service fee as percentage of purchase price of properties			1.85%
Monthly asset management fee as Percentage of real estate value			0.08334%
Financing coordination fee as percentage of gross amount of refinancing			1.00%
Advisor disposition fee as percentage of competitive real estate commission			50.00%
Advisor disposition fee as percentage of sales price of property			1.00%
Advisor disposition fee as percentage of sales price of asset			1.00%
Annualized return of investment			6.00%
Oversight fee as percentage of gross revenues from property managed			1.00%
Construction management fee as percentage of hard and soft costs			5.00%
Initial purchase price of property percentage			10.00%
Property management fees	[1],[2]		$ 418,000	$ 429,000
Investment services fees	[3]		$ 18,561,000	18,553,000	$ 12,892,000
Operating expenses reimbursement as percentage average invested assets			2.00%
Operating expenses reimbursement percentage of net income			25.00%
Bank deposits			$ 100,000	100,000
Purchase price			880,873,000	905,282,000
Total construction loan						$ 6,200,000
Fieldstone Memory Care
Related Party Transaction [Line Items]
Purchase price	[4]		$ 12,400,000
Advisor And Property Manager
Related Party Transaction [Line Items]
Annualized return of investment			6.00%
CNL Capital Markets Corp
Related Party Transaction [Line Items]
Investment services fees			$ 600,000	400,000	$ 300,000
Co-venture partners
Related Party Transaction [Line Items]
Payment to co-venture partner			2,000	$ 30,000
Related Party of Company Sponsor | Fieldstone Memory Care
Related Party Transaction [Line Items]
Purchase price		$ 12,400,000
Property Manager
Related Party Transaction [Line Items]
Property management fees			$ 1,000,000
Single Tenant Properties
Related Party Transaction [Line Items]
Property management fees as percentage of annual gross rental revenue			2.00%
Multi Tenant Properties
Related Party Transaction [Line Items]
Property management fees as percentage of annual gross rental revenue			4.00%
[1]	Amounts are recorded as due to related parties in the accompanying consolidated balance sheets.
[2]	For the years ended December 31, 2015, 2014 and 2013, the Company incurred approximately $3.9 million, $2.9 million and $1.2 million, respectively, in property and construction management fees payable to the Property Manager of which approximately $0.7 million, $0.9 million and $0.2 million, respectively, in construction management fees were capitalized and included in real estate under development in the accompanying consolidated balance sheets.
[3]	For the year ended December 31, 2015, the Company incurred approximately $18.6 million in investment services fees of which approximately $2.3 million, was capitalized and included in real estate under development in the accompanying consolidated balance sheets. For the year ended December 31, 2014, the Company incurred approximately $18.6 million in investment service fees of which approximately $1.8 million was capitalized and included in real estate under development. For the year ended December 31, 2013, the Company incurred approximately $12.9 million in investment service fees of which approximately $0.5 million and $0.1 million, respectively, were capitalized and included in investments in unconsolidated entities and real estate under development. Investment service fees, that are not capitalized, are recorded as acquisition fees and expenses in the accompanying consolidated statements of operations.
[4]	This represents a single property or portfolio acquisition that is not considered material to the Company and as such no pro forma financial information has been included related to this property.

Fees in Connection with Offerin

Fees in Connection with Offering (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Related Party Transactions [Abstract]
Selling commissions	$ 12,507	$ 18,387	$ 10,262
Marketing support fees	16,242	16,429	11,310
Total offering expenses	$ 28,749	34,816	$ 21,572
Selling commissions, Unpaid		388
Marketing support fees, Unpaid		555
Total offering expenses unpaid		$ 943

Schedule of Fees, Reimbursable

Schedule of Fees, Reimbursable Expenses and Related Amounts Unpaid to Related Parties (Detail) - USD ($)		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014		Dec. 31, 2013
Related Party Transaction [Line Items]
Offering costs	[1]	$ 3,446,000	$ 5,151,000		$ 4,373,000
Operating expenses	[2]	4,192,000	3,206,000		2,576,000
Acquisition fees and expenses		21,526,000	23,931,000		18,840,000
Total reimbursable expenses		8,251,000	8,971,000		7,203,000
Investment services fees	[3]	18,561,000	18,553,000		12,892,000
Disposition fee	[4]				608,000
Financing coordination fees		0	220,000	[5]	0
Property management fees		14,759,000	8,942,000		2,642,000
Asset management fees		17,892,000	8,481,000		3,614,000
Total reimbursable expenses, net		53,543,000	44,338,000		27,036,000
Offering costs, unpaid	[2],[6]	32,000	713,000
Operating expenses, unpaid	[2],[6]	935,000	479,000
Acquisition fees and expenses, unpaid	[6]	12,000	80,000
Total reimbursable expenses due	[6]	979,000	1,272,000
Investment services fees, unpaid	[3],[6]	182,000
Property management fees, unpaid	[6],[7]	418,000	429,000
Asset management fees, unpaid	[6],[8]	224,000	355,000
Total related amount unpaid		1,803,000	2,999,000
Reimbursable expenses
Related Party Transaction [Line Items]
Property management fees	[7]	3,894,000	2,982,000		1,244,000
Asset management fees	[8]	22,837,000	13,612,000		5,089,000
Total related amount unpaid	[6]	1,803,000	2,056,000
Property Manager
Related Party Transaction [Line Items]
Acquisition fees and expenses		$ 613,000	$ 614,000		$ 254,000
[1]	Amounts are recorded as stock issuance and offering costs in the accompanying consolidated statements of stockholders’ equity and redeemable noncontrolling interest. Amounts include approximately $25,000, $30,000 and $0.1 million of reimbursement payments to the Advisor for services provided to the Company by its executive officers for the years ended December 31, 2015, 2014 and 2013, respectively. The reimbursement payments include components of salaries, benefits and other overhead charges.
[2]	Amounts are recorded as general and administrative expenses in the accompanying consolidated statements of operations. Amounts include approximately $0.1 million, $0.2 million and $0.2 million of reimbursement payments to the Advisor for services provided to the Company by its executive officers for the years ended December 31, 2015, 2014 and 2013, respectively. The reimbursement payments include components of salaries, benefits and other overhead charges.
[3]	For the year ended December 31, 2015, the Company incurred approximately $18.6 million in investment services fees of which approximately $2.3 million, was capitalized and included in real estate under development in the accompanying consolidated balance sheets. For the year ended December 31, 2014, the Company incurred approximately $18.6 million in investment service fees of which approximately $1.8 million was capitalized and included in real estate under development. For the year ended December 31, 2013, the Company incurred approximately $12.9 million in investment service fees of which approximately $0.5 million and $0.1 million, respectively, were capitalized and included in investments in unconsolidated entities and real estate under development. Investment service fees, that are not capitalized, are recorded as acquisition fees and expenses in the accompanying consolidated statements of operations.
[4]	Amounts are recorded as a reduction to gain on sale of investment in unconsolidated entity in the accompanying consolidated statements of operations.
[5]	For the year ended December 31, 2014, the Company incurred approximately $0.2 million in financing coordination fees, which was capitalized and included in its investment in the Windsor Manor Joint Venture. There were no financing coordination fees for the years ended December 31, 2015 and 2013.
[6]	Amounts are recorded as due to related parties in the accompanying consolidated balance sheets.
[7]	For the years ended December 31, 2015, 2014 and 2013, the Company incurred approximately $3.9 million, $2.9 million and $1.2 million, respectively, in property and construction management fees payable to the Property Manager of which approximately $0.7 million, $0.9 million and $0.2 million, respectively, in construction management fees were capitalized and included in real estate under development in the accompanying consolidated balance sheets.
[8]	For the years ended December 31, 2015, 2014 and 2013, the Company incurred approximately $22.9 million, $13.6 million and $5.1 million, respectively, in asset management fees payable to the Advisor of which approximately $4.4 million, $4.9 million and $1.4 million, respectively, were settled in accordance with the terms of the Advisor Expense Support Agreement and approximately $0.6 million , $0.3 million and $0.1 million, respectively, were capitalized and included in real estate under development in the accompanying consolidated balance sheets.

Schedule of Fees, Reimbursabl80

Schedule of Fees, Reimbursable Expenses and Related Amounts Unpaid to Related Parties (Parenthetical) (Detail) - USD ($)		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014		Dec. 31, 2013
Related Party Transaction [Line Items]
Investment services fees	[1]	$ 18,561,000	$ 18,553,000		$ 12,892,000
Investment service fees capitalized		2,300,000	1,800,000		500,000
Financing coordination fees		0	220,000	[2]	0
Construction management fees capitalized		700,000	900,000		200,000
Asset management fees		17,892,000	8,481,000		3,614,000
Expense under Support Agreement		4,400,000	4,900,000		1,400,000
Asset management fees capitalized		600,000	300,000		100,000
Investment Services Fees
Related Party Transaction [Line Items]
Investment services fees		18,600,000	18,600,000		12,900,000
Development
Related Party Transaction [Line Items]
Investment service fees capitalized					100,000
Reimbursable expenses
Related Party Transaction [Line Items]
Advisory fee paid		25,000	30,000		100,000
Property and construction management fees payable		3,900,000	2,900,000		1,200,000
Asset management fees	[3]	22,837,000	13,612,000		5,089,000
Reimbursable expenses | General and Administrative Expense
Related Party Transaction [Line Items]
Advisory fee paid		$ 100,000	$ 200,000		$ 200,000
[1]	For the year ended December 31, 2015, the Company incurred approximately $18.6 million in investment services fees of which approximately $2.3 million, was capitalized and included in real estate under development in the accompanying consolidated balance sheets. For the year ended December 31, 2014, the Company incurred approximately $18.6 million in investment service fees of which approximately $1.8 million was capitalized and included in real estate under development. For the year ended December 31, 2013, the Company incurred approximately $12.9 million in investment service fees of which approximately $0.5 million and $0.1 million, respectively, were capitalized and included in investments in unconsolidated entities and real estate under development. Investment service fees, that are not capitalized, are recorded as acquisition fees and expenses in the accompanying consolidated statements of operations.
[2]	For the year ended December 31, 2014, the Company incurred approximately $0.2 million in financing coordination fees, which was capitalized and included in its investment in the Windsor Manor Joint Venture. There were no financing coordination fees for the years ended December 31, 2015 and 2013.
[3]	For the years ended December 31, 2015, 2014 and 2013, the Company incurred approximately $22.9 million, $13.6 million and $5.1 million, respectively, in asset management fees payable to the Advisor of which approximately $4.4 million, $4.9 million and $1.4 million, respectively, were settled in accordance with the terms of the Advisor Expense Support Agreement and approximately $0.6 million , $0.3 million and $0.1 million, respectively, were capitalized and included in real estate under development in the accompanying consolidated balance sheets.

Related Party Arrangement, Fees

Related Party Arrangement, Fees and Expenses Incurred (Detail) - USD ($) $ / shares in Units, $ in Thousands		10 Months Ended	11 Months Ended	12 Months Ended			14 Months Ended		29 Months Ended
		Nov. 03, 2014	Sep. 30, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015		Dec. 10, 2013
Related Party Transaction [Line Items]
Asset management fees				$ 17,892	$ 8,481	$ 3,614
Cash distributions on Restricted Stock				$ 26,373	$ 14,203	$ 6,579
Stock distributions, shares		0.0025	0.0025	3,200,000	2,400,000	1,100,000		[1],[2]	0.0025
Then-current offering price or NAV				$ 9.75			$ 9.75
Expense Support Agreements
Related Party Transaction [Line Items]
Asset management fees	[3]			$ 4,379	$ 4,867	$ 1,402
Then-current offering price or NAV	[4]			$ 10.19	$ 10.24	$ 10	$ 10.19
Restricted stock shares	[5]			423,000	478,000	140,000
Asset management fees	[3]			$ 10,648			$ 10,648
Then-current offering price or NAV	[4]			$ 9.75			$ 9.75
Expense Support Agreements | Restricted Stock
Related Party Transaction [Line Items]
Cash distributions on Restricted Stock	[6]			$ 281	$ 98	$ 5
Stock distributions, shares	[7]			14,000	7,000
Restricted stock shares	[5]			1,041,000			1,041,000
Cash distributions on Restricted Stock	[6]			$ 384			$ 384
Stock distributions on Restricted Stock	[7]			21,000			21,000
[1]	(2)The Company closed its Follow-On Offering on September 30, 2015 and discontinued its stock distributions concurrently. The monthly stock distributions were 0.0025 through September 30, 2015
[2]	The Company’s board of directors adopted an estimated NAV of $9.75 as of December 31, 2015.
[3]	No other amounts have been settled in connection with the Expense Support Agreements for the years ended December 31, 2015, 2014 and 2013, and cumulatively as of December 31, 2015.
[4]	The number of restricted stock shares granted to the Advisor in lieu of payment in cash is determined by dividing the expense support amount for the respective quarter by the then-current public offering price as of the Determination Date or by NAV, once the board of directors has made such determination after the close of the Company’s public offering.
[5]	Restricted stock shares are comprised of approximately 0.8 million issued to the Advisor and approximately 0.2 million issuable to the Advisor as of December 31, 2015. No fair value was assigned to the restricted stock shares as the shares were valued at zero, which represents 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, 2015.
[6]	The cash distributions have been recognized as compensation expense as issued and included in general and administrative expense in the accompanying consolidated statements of operations.
[7]	This represents the number of shares issued to the Advisor as stock distributions on its restricted stock shares. The par value of the stock distributions has been recognized as compensation expense as issued and included in general and administrative expense in the accompanying consolidated statements of operations.

Related Party Arrangement, Fe82

Related Party Arrangement, Fees and Expenses Incurred (Parenthetical) (Detail) - USD ($)		10 Months Ended	11 Months Ended	12 Months Ended			14 Months Ended		29 Months Ended
		Nov. 03, 2014	Sep. 30, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015		Dec. 10, 2013
Related Party Transaction [Line Items]
Stock distributions, shares		0.0025	0.0025	3,200,000	2,400,000	1,100,000		[1],[2]	0.0025
Advisor | Expense Support Agreements
Related Party Transaction [Line Items]
Stock distributions, shares						356
Restricted Stock | Expense Support Agreements
Related Party Transaction [Line Items]
Stock distributions, shares	[3]			14,000	7,000
CNL Healthcare Corp. | Restricted Stock
Related Party Transaction [Line Items]
Shares issued to Advisor				800,000
Shares issuable to Advisor				200,000			200,000
Restricted stock fair value				$ 0
[1]	(2)The Company closed its Follow-On Offering on September 30, 2015 and discontinued its stock distributions concurrently. The monthly stock distributions were 0.0025 through September 30, 2015
[2]	The Company’s board of directors adopted an estimated NAV of $9.75 as of December 31, 2015.
[3]	This represents the number of shares issued to the Advisor as stock distributions on its restricted stock shares. The par value of the stock distributions has been recognized as compensation expense as issued and included in general and administrative expense in the accompanying consolidated statements of operations.

Amounts Related to Derivative F

Amounts Related to Derivative Financial Instruments Included in Unconsolidated Entities in Condensed Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Derivative Financial Instruments One
Derivative [Line Items]
Initial Notional Amount	[1]	$ 12,248
Strike	[2]	1.30%
Credit Spread	[2]	2.60%
Trade date		Jan. 17, 2013
Forward date		Jan. 15, 2015
Maturity date		Jan. 16, 2018
Fair value asset (liability)		$ (85)	$ (71)
Derivative Financial Instruments Two
Derivative [Line Items]
Initial Notional Amount	[1]	$ 38,052
Strike	[2]	2.70%
Credit Spread	[2]	2.50%
Trade date		Sep. 6, 2013
Forward date		Aug. 17, 2015
Maturity date		Jul. 10, 2018
Fair value asset (liability)		$ (1,472)	(1,228)
Derivative Financial Instruments Three
Derivative [Line Items]
Initial Notional Amount	[1]	$ 25,929
Strike	[2]	2.80%
Credit Spread	[2]	2.50%
Trade date		Sep. 6, 2013
Forward date		Aug. 17, 2015
Maturity date		Aug. 29, 2018
Fair value asset (liability)		$ (1,086)	(906)
Derivative Financial Instruments Four
Derivative [Line Items]
Initial Notional Amount	[3]	$ 30,000
Strike	[2]	1.10%
Credit Spread	[2]	2.70%
Trade date		Oct. 22, 2013
Forward date		Aug. 5, 2015
Fair value asset (liability)			(82)
Derivative Financial Instruments Five
Derivative [Line Items]
Initial Notional Amount	[3]	$ 29,952
Strike	[2]	0.90%
Credit Spread	[2]	4.30%
Trade date		Nov. 13, 2013
Forward date		May 11, 2015
Fair value asset (liability)			(74)
Derivative Financial Instruments Six
Derivative [Line Items]
Initial Notional Amount	[1]	$ 10,699
Strike	[2]	3.00%
Trade date		Jun. 27, 2014
Forward date		Jun. 30, 2014
Maturity date		Jun. 30, 2017
Fair value asset (liability)		$ 1	10
Derivative Financial Instruments Seven
Derivative [Line Items]
Initial Notional Amount	[1]	$ 48,415
Strike	[2]	2.40%
Credit Spread	[2]	2.90%
Trade date		Aug. 15, 2014
Forward date		Jun. 1, 2016
Maturity date		Jun. 2, 2019
Fair value asset (liability)		$ (1,066)	(270)
Derivative Financial Instruments Eight
Derivative [Line Items]
Initial Notional Amount	[1]	$ 83,797
Strike	[2]	2.30%
Credit Spread	[2]	2.40%
Trade date		Sep. 12, 2014
Forward date		Aug. 1, 2015
Maturity date		Jul. 15, 2019
Fair value asset (liability)		$ (2,283)	(1,326)
Derivative Financial Instruments Nine
Derivative [Line Items]
Initial Notional Amount	[1]	$ 6,998
Strike	[2]	1.20%
Credit Spread	[2]	2.30%
Trade date		Nov. 12, 2014
Forward date		Nov. 15, 2014
Maturity date		Oct. 15, 2017
Fair value asset (liability)		$ (37)	(35)
Derivative Financial Instruments Ten
Derivative [Line Items]
Initial Notional Amount	[1]	$ 175,000
Strike	[2]	1.60%
Credit Spread	[2]	2.00%
Trade date		Dec. 23, 2014
Forward date		Dec. 19, 2014
Maturity date		Feb. 19, 2019
Fair value asset (liability)		$ (1,694)	$ (881)
Derivative Financial Instruments Eleven
Derivative [Line Items]
Initial Notional Amount	[1]	$ 138,698
Strike	[2]	1.70%
Credit Spread	[2]	2.00%
Trade date		Jan. 9, 2015
Forward date		Dec. 10, 2015
Maturity date		Dec. 22, 2019
Fair value asset (liability)		$ (1,795)
Derivative Financial Instruments Twelve
Derivative [Line Items]
Initial Notional Amount	[4]	$ 260,000
Strike	[2]	1.50%
Trade date		Nov. 19, 2015
Forward date		Nov. 19, 2015
Maturity date		Nov. 30, 2018
Fair value asset (liability)		$ 1,988
[1]	Amounts related to interest rate swaps held by the Company, or its equity method investments, which are recorded at fair value and included in either other assets or other liabilities in the accompanying consolidated balance sheets.
[2]	The all-in rates are equal to the sum of the Strike and Credit Spread detailed above.
[3]	The loans associated with these derivatives were repaid during the year ended December 31, 2015. Refer to Note 10. “Indebtedness” for additional information.
[4]	Amounts related to the interest rate caps held by the Company, or its equity method investments, which are recorded at fair value and included in either other assets or other liabilities in the accompanying consolidated balance sheets.

Summary of the Gross and Net Pr

Summary of the Gross and Net Presentation of Amounts Related to the Derivative Financial Instruments (Detail) - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014
Interest Rate Swap Agreement One
Derivative [Line Items]
Notional amount of derivative contract	[1]	$ 12,248	$ 12,421
Amounts of asset (liability) presented in the accompanying condensed consolidated balance sheet, Gross amount		(85)	(71)
Fair value asset (liability)		(85)	(71)
Interest Rate Swap Agreement Two
Derivative [Line Items]
Notional amount of derivative contract	[1]	38,052	38,255
Amounts of asset (liability) presented in the accompanying condensed consolidated balance sheet, Gross amount		(1,472)	(1,228)
Fair value asset (liability)		(1,472)	(1,228)
Interest Rate Swap Agreement Three
Derivative [Line Items]
Notional amount of derivative contract	[1]	25,929	26,067
Amounts of asset (liability) presented in the accompanying condensed consolidated balance sheet, Gross amount		(1,086)	(906)
Fair value asset (liability)		(1,086)	(906)
Interest Rate Swap Agreement Four
Derivative [Line Items]
Notional amount of derivative contract	[2]	30,000	30,000
Amounts of asset (liability) presented in the accompanying condensed consolidated balance sheet, Gross amount			(82)
Fair value asset (liability)			(82)
Interest Rate Swap Agreement Five
Derivative [Line Items]
Notional amount of derivative contract	[2]	29,952	29,952
Amounts of asset (liability) presented in the accompanying condensed consolidated balance sheet, Gross amount			(74)
Fair value asset (liability)			(74)
Interest Rate Swap Six Agreement
Derivative [Line Items]
Notional amount of derivative contract	[3]	10,699	10,904
Amounts of asset (liability) presented in the accompanying condensed consolidated balance sheet, Gross amount		1	10
Fair value asset (liability)		1	10
Interest Rate Swap Seven Agreement
Derivative [Line Items]
Notional amount of derivative contract	[1]	48,415	48,415
Amounts of asset (liability) presented in the accompanying condensed consolidated balance sheet, Gross amount		(1,066)	(270)
Fair value asset (liability)		(1,066)	(270)
Interest Rate Swap Eight Agreement
Derivative [Line Items]
Notional amount of derivative contract	[1]	83,797	84,251
Amounts of asset (liability) presented in the accompanying condensed consolidated balance sheet, Gross amount		(2,283)	(1,326)
Fair value asset (liability)		(2,283)	(1,326)
Interest Rate Swap Nine Agreement
Derivative [Line Items]
Notional amount of derivative contract	[1]	6,998	7,119
Amounts of asset (liability) presented in the accompanying condensed consolidated balance sheet, Gross amount		(37)	(35)
Fair value asset (liability)		(37)	(35)
Interest Rate Swap Ten Agreement
Derivative [Line Items]
Notional amount of derivative contract	[1]	175,000	175,000
Amounts of asset (liability) presented in the accompanying condensed consolidated balance sheet, Gross amount		(1,694)	(881)
Fair value asset (liability)		(1,694)	$ (881)
Interest Rate Swap Eleven Agreement
Derivative [Line Items]
Notional amount of derivative contract	[1]	138,698
Amounts of asset (liability) presented in the accompanying condensed consolidated balance sheet, Gross amount		(1,795)
Fair value asset (liability)		(1,795)
Interest Rate Swap Twelve Agreement
Derivative [Line Items]
Notional amount of derivative contract	[3]	260,000
Amounts of asset (liability) presented in the accompanying condensed consolidated balance sheet, Gross amount		1,988
Fair value asset (liability)		$ 1,988
[1]	Amounts related to interest rate swaps held by the Company, or its equity method investments, which are recorded at fair value and included in either other assets or other liabilities in the accompanying consolidated balance sheets.
[2]	The loans associated with these derivatives were repaid during the year ended December 31, 2015. Refer to Note 10. “Indebtedness” for additional information.
[3]	Amounts related to the interest rate caps held by the Company, or its equity method investments, which are recorded at fair value and included in either other assets or other liabilities in the accompanying consolidated balance sheets.

Equity - Additional Information

Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	10 Months Ended	11 Months Ended	12 Months Ended			14 Months Ended		29 Months Ended
	Nov. 03, 2014	Sep. 30, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015		Dec. 10, 2013
Class of Stock [Line Items]
Redeemable noncontrolling interest in joint venture			5.00%			5.00%
Stock issuance and other offering cost			$ 57,400	$ 59,800	$ 42,000
Cash distribution declared			63,201	31,919	14,170
Cash paid to stockholders			$ 26,400	$ 14,200	$ 6,600
Stock distributions on Restricted Stock	0.0025	0.0025	3,200,000	2,400,000	1,100,000		[1],[2]	0.0025
Redemption of common stock, per share			$ 9.51	$ 9.24	$ 9.25	$ 9.51
Redemptions of common stock			$ 9,309	$ 2,996	$ 827
Common Stock
Class of Stock [Line Items]
Stock distributions on Restricted Stock			3,196,000	2,356,000	1,063,000
Redemptions of common stock			$ 12	$ 3	$ 1
Redemption of common stock, shares			978,000	324,000	89,000
Reinvestment Plan
Class of Stock [Line Items]
Cash distribution declared			$ 36,800	$ 17,700	$ 7,600
[1]	(2)The Company closed its Follow-On Offering on September 30, 2015 and discontinued its stock distributions concurrently. The monthly stock distributions were 0.0025 through September 30, 2015
[2]	The Company’s board of directors adopted an estimated NAV of $9.75 as of December 31, 2015.

Aggregate Proceeds from Offerin

Aggregate Proceeds from Offerings (Detail) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Subscription
Class of Stock [Line Items]
Aggregate offering proceeds received from public offering	$ 1,666	$ 1,114.2
Shares issued	162.5	110.2
Subscription | IPO
Class of Stock [Line Items]
Aggregate offering proceeds received from public offering	$ 1,271.4	$ 1,114.2
Shares issued	125.1	110.2
Subscription | Follow-On Offering
Class of Stock [Line Items]
Aggregate offering proceeds received from public offering	$ 394.6
Shares issued	37.4
Reinvestment Plan
Class of Stock [Line Items]
Aggregate offering proceeds received from public offering	$ 63.9	$ 27.1
Shares issued	6.5	2.8
Reinvestment Plan | IPO
Class of Stock [Line Items]
Aggregate offering proceeds received from public offering	$ 27.1	$ 27.1
Shares issued	2.8	2.8
Reinvestment Plan | Follow-On Offering
Class of Stock [Line Items]
Aggregate offering proceeds received from public offering	$ 36.8
Shares issued	3.7

Historical Share Prices in Its

Historical Share Prices in Its Offerings, Including the Prices Pursuant To the Reinvestment Plan and the Company's Monthly Cash and Stock Distributions per Share (Detail) - $ / shares	10 Months Ended	11 Months Ended	12 Months Ended				14 Months Ended		29 Months Ended
	Nov. 03, 2014	Sep. 30, 2015	Dec. 31, 2015		Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015		Dec. 10, 2013
Dividends Payable [Line Items]
Offering Price per Share	$ 10.14		$ 10.58	[1]			$ 10.58	[1]	$ 10
Reinvestment Plan Price per Share			9.75				9.75
Monthly Cash Distribution	$ 0.0338		$ 0.0353	[1]			$ 0.0353	[1]	$ 0.0333
Stock distributions on Restricted Stock	0.0025	0.0025	3,200,000		2,400,000	1,100,000		[1],[2]	0.0025
Reinvestment Plan
Dividends Payable [Line Items]
Reinvestment Plan Price per Share	$ 9.64		$ 10.06	[1]			$ 10.06	[1]	$ 9.50
[1]	The Company’s board of directors adopted an estimated NAV of $9.75 as of December 31, 2015.
[2]	(2)The Company closed its Follow-On Offering on September 30, 2015 and discontinued its stock distributions concurrently. The monthly stock distributions were 0.0025 through September 30, 2015

Historical Share Prices in It88

Historical Share Prices in Its Offerings, Including the Prices Pursuant To the Reinvestment Plan and the Company's Monthly Cash and Stock Distributions per Share (Parenthetical) (Detail) - $ / shares	10 Months Ended	11 Months Ended	12 Months Ended			14 Months Ended		29 Months Ended
	Nov. 03, 2014	Sep. 30, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015		Dec. 10, 2013
Equity [Abstract]
Then-current offering price or NAV			$ 9.75			$ 9.75
Stock distributions, shares	0.0025	0.0025	3,200,000	2,400,000	1,100,000		[1],[2]	0.0025
[1]	(2)The Company closed its Follow-On Offering on September 30, 2015 and discontinued its stock distributions concurrently. The monthly stock distributions were 0.0025 through September 30, 2015
[2]	The Company’s board of directors adopted an estimated NAV of $9.75 as of December 31, 2015.

Tax Composition of Company's Di

Tax Composition of Company's Distributions Declared (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Uncategorized [Abstract]
Taxable as ordinary income	37.80%	30.80%	0.00%
Taxable as capital gain	0.00%	0.00%	63.80%
Return of capital	62.20%	69.20%	36.20%

Effect of Derivative Financial

Effect of Derivative Financial Instruments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments, Gain (loss) recognized in other comprehensive loss	$ (4,883)	$ (3,905)
Interest Expense and Loan Cost Amortization
Derivative Instruments, Gain (Loss) [Line Items]
Loss reclassified from AOCI into earnings	(4,379)	(98)
Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments, Gain (loss) recognized in other comprehensive loss	(4,881)	(3,915)
Interest Rate Swap | Interest Expense and Loan Cost Amortization
Derivative Instruments, Gain (Loss) [Line Items]
Loss reclassified from AOCI into earnings	(4,110)	(98)
Interest Rate Cap
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments, Gain (loss) recognized in other comprehensive loss	(262)
Interest Rate Cap | Unconsolidated Joint Venture
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments, Gain (loss) recognized in other comprehensive loss	(9)	$ 10
Reclassification of Interest Rate Swaps Upon Derecognition
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments, Gain (loss) recognized in other comprehensive loss	236
Reclassification of Interest Rate Swaps Upon Derecognition | Interest Expense and Loan Cost Amortization
Derivative Instruments, Gain (Loss) [Line Items]
Loss reclassified from AOCI into earnings	(236)
Reclassification of Interest Rate Swaps Due to Ineffectiveness
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments, Gain (loss) recognized in other comprehensive loss	33
Reclassification of Interest Rate Swaps Due to Ineffectiveness | Interest Expense and Loan Cost Amortization
Derivative Instruments, Gain (Loss) [Line Items]
Loss reclassified from AOCI into earnings	$ (33)

Components of Income Tax Benefi

Components of Income Tax Benefit (Expense) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current:
Federal			$ 13
State	$ (378)	$ (361)
Total current benefit (expense)	(378)	(361)	13
Deferred:
Federal			(25)
State			(6)
Total deferred expense			(31)
Income tax expense	$ (378)	$ (361)	$ (18)

Significant Components of Defer

Significant Components of Deferred Tax Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Carryforwards of net operating loss	$ 5,220	$ 2,361
Prepaid rent	619	437
Valuation allowance	(5,839)	(2,798)
Net deferred tax assets	$ 0	$ 0

Reconciliation of Income Tax Ex

Reconciliation of Income Tax Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Tax benefit computed at federal statutory rate	$ 23,701	$ 18,253	$ 6,329
Impact of REIT election	(23,701)	(18,253)	(6,344)
State income tax expense	(378)	(361)	(3)
Income tax expense	$ (378)	$ (361)	$ (18)
Tax benefit computed at federal statutory rate	35.00%	35.00%	35.00%
Impact of REIT election	(35.00%)	(35.00%)	(35.08%)
State income tax expense	(0.56%)	(0.69%)	(0.02%)
Income tax expense	(0.56%)	(0.69%)	(0.10%)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)
Income Taxes [Line Items]
Net operating loss carry-forwards for federal and state	$ 28.1
Net operating loss carry-forwards expire in 2033
Income Taxes [Line Items]
Net operating loss carry-forwards for federal and state	$ 0.8
Net Operating loss carry-forwards, expiration year	2,033
Net operating loss carry-forwards expire in 2034
Income Taxes [Line Items]
Net operating loss carry-forwards for federal and state	$ 11.5
Net Operating loss carry-forwards, expiration year	2,034
Net operating loss carry-forwards expire in 2035
Income Taxes [Line Items]
Net operating loss carry-forwards for federal and state	$ 15.7
Net Operating loss carry-forwards, expiration year	2,035

Tenants and Geographical Concen

Tenants and Geographical Concentrations that Individually Accounted for 10% or More of Total Revenues (Detail) - Total Revenue		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Tenant | TSMM Management, LLC
Concentration Risk [Line Items]
Concentration risk, percentage	[1]	5.70%	7.70%	26.50%
Geographical | State of Texas
Concentration Risk [Line Items]
Concentration risk, percentage	[2]	16.50%	22.10%	5.40%
[1]	Includes contractual rental income from operating leases, capital reserve income, straight-line rent adjustments, and amortization of lease intangibles. Failure of this tenant to pay contractual lease payments could significantly impact the Company’s results of operations and cash flow from operations, which in turn would impact its ability to pay debt service and make distributions to stockholders.
[2]	Includes rental income from operating leases, resident fees and services, and tenant reimbursement income. Adverse economic developments in this geographical area could significantly impact the Company’s results of operations and cash flow from operations, which in turn would impact its ability to pay debt service and make distributions to stockholders.

Selected Quarterly Financial 96

Selected Quarterly Financial Data (Unaudited) (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended																12 Months Ended
	Dec. 31, 2015		Sep. 30, 2015		Jun. 30, 2015		Mar. 31, 2015		Dec. 31, 2014		Sep. 30, 2014		Jun. 30, 2014		Mar. 31, 2014		Dec. 31, 2015		Dec. 31, 2014		Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Total revenues	$ 88,112		$ 79,904		$ 67,476		$ 65,033		$ 55,685		$ 49,660		$ 42,464		$ 33,275		$ 300,525		$ 181,084		$ 52,605
Operating loss	(4,824)		(7,925)		(3,650)		(7,909)		(6,179)		(6,243)		(3,381)		(7,375)		(24,308)		(23,178)		(13,990)
Net loss attributable to common stockholders	$ (17,420)		$ (19,225)		$ (13,410)		$ (18,000)		$ (15,481)		$ (12,204)		$ (12,303)		$ (12,523)		$ (68,055)		$ (52,511)		$ (18,100)
Weighted average number of shares outstanding (basic and diluted)	173,766	[1]	162,730	[1]	146,257	[1]	131,880	[1]	107,705	[1]	89,597	[1]	77,426	[1]	67,526	[1]	153,804	[1]	85,710	[1]	43,450
Loss per share of common stock (basic and diluted)	$ (0.10)		$ (0.12)		$ (0.09)		$ (0.14)		$ (0.14)		$ (0.14)		$ (0.16)		$ (0.19)		$ (0.44)		$ (0.61)		$ (0.42)
[1]	For the purposes of determining the weighted average number of shares of common stock outstanding, stock distributions issued are treated as if they were outstanding for all periods presented.

Schedule II-Valuation and Qua97

Schedule II-Valuation and Qualifying Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Valuation And Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Year	$ (2,798)	$ (597)
Charged to Costs and Expenses	(4,211)	(2,201)	$ (597)
Charged to Other Accounts	0	0	0
Balance at End of Year	(7,009)	(2,798)	(597)
Valuation Allowance of Deferred Tax Assets
Valuation And Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Year	(2,798)	(597)
Charged to Costs and Expenses	(3,041)	(2,201)	(597)
Charged to Other Accounts	0	0	0
Balance at End of Year	(5,839)	$ (2,798)	$ (597)
Allowance for Doubtful Accounts
Valuation And Qualifying Accounts Disclosure [Line Items]
Charged to Costs and Expenses	(1,170)
Charged to Other Accounts	0
Balance at End of Year	$ (1,170)

Schedule III-Real Estate And 98

Schedule III-Real Estate And Accumulated Depreciation (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances		$ 840,656
Initial Costs, Land & Land Improvements		238,787
Initial Costs, Buildings & Building Improvements		2,215,548
Costs Capitalized Subsequent to Acquisition, Land and Improvements		4,803
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements		81,788
Costs Capitalized Subsequent to Acquisition, Construction in Process		47,977
Gross Amounts at which Carried at Close of period, Land & Land Improvements		243,590
Gross Amounts at which Carried at Close of period, Building & Building Improvements		2,297,336
Gross Amounts at which Carried at Close of period, Construction in Process		47,977
Total		2,588,903	$ 1,721,429	$ 859,877	$ 235,945
Accumulated Depreciation		(90,201)	$ (40,467)	$ (11,011)	$ (1,702)
Primrose Retirement Community Casper, Wyoming
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	12,031
Initial Costs, Land & Land Improvements	[1]	1,910
Initial Costs, Buildings & Building Improvements	[1]	16,310
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	9
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,910
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	16,319
Total	[1]	18,229
Accumulated Depreciation	[1]	$ (1,653)
Date of construction	[1]	2,004
Date Acquired	[1]	Feb. 16, 2012
Primrose Retirement Community Of Grand Island
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 8,487
Initial Costs, Land & Land Improvements	[1]	719
Initial Costs, Buildings & Building Improvements	[1]	12,140
Costs Capitalized Subsequent to Acquisition, Land and Improvements	[1]	25
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	744
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	12,140
Total	[1]	12,884
Accumulated Depreciation	[1]	$ (1,284)
Date of construction	[1]	2,005
Date Acquired	[1]	Feb. 16, 2012
Primrose Retirement Community Mansfield, Ohio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 11,548
Initial Costs, Land & Land Improvements	[1]	650
Initial Costs, Buildings & Building Improvements	[1]	16,720
Costs Capitalized Subsequent to Acquisition, Land and Improvements	[1]	228
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	6
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	878
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	16,726
Total	[1]	17,604
Accumulated Depreciation	[1]	$ (1,756)
Date of construction	[1]	2,007
Date Acquired	[1]	Feb. 16, 2012
Primrose Retirement Community Marion, Ohio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 9,579
Initial Costs, Land & Land Improvements	[1]	889
Initial Costs, Buildings & Building Improvements	[1]	16,305
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	889
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	16,305
Total	[1]	17,194
Accumulated Depreciation	[1]	$ (1,705)
Date of construction	[1]	2,006
Date Acquired	[1]	Feb. 16, 2012
Sweetwater Retirement Community Billings Montana
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 10,403
Initial Costs, Land & Land Improvements	[1]	1,578
Initial Costs, Buildings & Building Improvements	[1]	14,205
Costs Capitalized Subsequent to Acquisition, Land and Improvements	[1]	20
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,598
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	14,205
Total	[1]	15,803
Accumulated Depreciation	[1]	$ (1,449)
Date of construction	[1]	2,006
Date Acquired	[1]	Feb. 16, 2012
HarborChase Community Lady Lake, Florida
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 2,165
Costs Capitalized Subsequent to Acquisition, Land and Improvements	[1]	986
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	15,424
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	3,151
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	15,424
Total	[1]	18,575
Accumulated Depreciation	[1]	$ (843)
Date of construction	[1]	2,013
Date Acquired	[1]	Aug. 29, 2012
Dogwood Forest of Acworth
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1],[2]	$ 1,750
Costs Capitalized Subsequent to Acquisition, Land and Improvements	[1],[2]	277
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1],[2]	15,994
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1],[2]	2,027
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1],[2]	15,994
Total	[1],[2]	18,021
Accumulated Depreciation	[1],[2]	$ (617)
Date Acquired	[1],[2]	Dec. 18, 2012
Primrose Retirement Community Aberdeen, South Dakota
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 311
Initial Costs, Buildings & Building Improvements	[1]	3,794
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	311
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	3,794
Total	[1]	4,105
Accumulated Depreciation	[1]	$ (316)
Date of construction	[1]	2,005
Date Acquired	[1]	Dec. 19, 2012
Primrose Retirement Community Council Bluffs, Iowa
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 1,144
Initial Costs, Buildings & Building Improvements	[1]	11,117
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,144
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	11,117
Total	[1]	12,261
Accumulated Depreciation	[1]	$ (951)
Date of construction	[1]	2,008
Date Acquired	[1]	Dec. 19, 2012
Primrose Retirement Community Decatur, Illinois
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 10,558
Initial Costs, Land & Land Improvements	[1]	513
Initial Costs, Buildings & Building Improvements	[1]	16,706
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	513
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	16,706
Total	[1]	17,219
Accumulated Depreciation	[1]	$ (1,358)
Date of construction	[1]	2,009
Date Acquired	[1]	Dec. 19, 2012
Primrose Retirement Community Lima, Ohio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 944
Initial Costs, Buildings & Building Improvements	[1]	17,115
Costs Capitalized Subsequent to Acquisition, Land and Improvements	[1]	8
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	4
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	952
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	17,119
Total	[1]	18,071
Accumulated Depreciation	[1]	$ (1,396)
Date of construction	[1]	2,006
Date Acquired	[1]	Dec. 19, 2012
Primrose Retirement Community Zanesville, Ohio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 11,915
Initial Costs, Land & Land Improvements	[1]	1,184
Initial Costs, Buildings & Building Improvements	[1]	17,292
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,184
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	17,292
Total	[1]	18,476
Accumulated Depreciation	[1]	$ (1,411)
Date of construction	[1]	2,008
Date Acquired	[1]	Dec. 19, 2012
Capital Health of Symphony Manor Baltimore, Maryland
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 12,131
Initial Costs, Land & Land Improvements	[1]	2,319
Initial Costs, Buildings & Building Improvements	[1]	19,444
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	78
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,319
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	19,522
Total	[1]	21,841
Accumulated Depreciation	[1]	$ (1,564)
Date of construction	[1]	2,011
Date Acquired	[1]	Dec. 21, 2012
Curry House Assisted Living & Memory Care Cadillac, Michigan
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 6,253
Initial Costs, Land & Land Improvements	[1]	995
Initial Costs, Buildings & Building Improvements	[1]	11,072
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	995
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	11,072
Total	[1]	12,067
Accumulated Depreciation	[1]	$ (901)
Date of construction	[1]	1,966
Date Acquired	[1]	Dec. 21, 2012
Tranquillity at Fredericktowne, Maryland
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 6,032
Initial Costs, Land & Land Improvements	[1]	808
Initial Costs, Buildings & Building Improvements	[1]	14,291
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	97
Costs Capitalized Subsequent to Acquisition, Construction in Process	[1]	235
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	808
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	14,388
Gross Amounts at which Carried at Close of period, Construction in Process	[1]	235
Total	[1]	15,431
Accumulated Depreciation	[1]	$ (1,149)
Date of construction	[1]	2,000
Date Acquired	[1]	Dec. 21, 2012
Brookridge Heights Assisted Living and Memory Care Marquette, Michigan
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 6,189
Initial Costs, Land & Land Improvements	[1]	595
Initial Costs, Buildings & Building Improvements	[1]	11,339
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	31
Costs Capitalized Subsequent to Acquisition, Construction in Process	[1]	94
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	595
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	11,370
Gross Amounts at which Carried at Close of period, Construction in Process	[1]	94
Total	[1]	12,059
Accumulated Depreciation	[1]	$ (909)
Date of construction	[1]	1,998
Date Acquired	[1]	Dec. 21, 2012
Woodholme Gardens Assisted Living and Memory Care Pikesville, Maryland
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 7,285
Initial Costs, Land & Land Improvements	[1]	1,603
Initial Costs, Buildings & Building Improvements	[1]	13,472
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,603
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	13,472
Total	[1]	15,075
Accumulated Depreciation	[1]	$ (1,092)
Date of construction	[1]	2,010
Date Acquired	[1]	Dec. 21, 2012
Batesville Healthcare Center Batesville, Arkansas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 397
Initial Costs, Buildings & Building Improvements	[1]	5,382
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	397
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	5,382
Total	[1]	5,779
Accumulated Depreciation	[1]	$ (362)
Date of construction	[1]	1,975
Date Acquired	[1]	May 31, 2013
Broadway Healthcare Center West Memphis, Arkansas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 438
Initial Costs, Buildings & Building Improvements	[1]	10,560
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	77
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	438
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	10,637
Total	[1]	11,075
Accumulated Depreciation	[1]	$ (721)
Date of construction	[1]	1,994
Date Acquired	[1]	May 31, 2013
Jonesboro Healthcare Center Jonesboro, Arkansas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 527
Initial Costs, Buildings & Building Improvements	[1]	13,493
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	5
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	527
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	13,498
Total	[1]	14,025
Accumulated Depreciation	[1]	$ (908)
Date of construction	[1]	2,012
Date Acquired	[1]	May 31, 2013
Magnolia Healthcare Center Magnolia, Arkansas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 421
Initial Costs, Buildings & Building Improvements	[1]	10,454
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	421
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	10,454
Total	[1]	10,875
Accumulated Depreciation	[1]	$ (716)
Date of construction	[1]	2,009
Date Acquired	[1]	May 31, 2013
Mine Creek Healthcare Center Nashville, Arkansas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 135
Initial Costs, Buildings & Building Improvements	[1]	2,942
Costs Capitalized Subsequent to Acquisition, Land and Improvements	[1]	11
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	10
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	146
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	2,952
Total	[1]	3,098
Accumulated Depreciation	[1]	$ (209)
Date of construction	[1]	1,978
Date Acquired	[1]	May 31, 2013
Searcy Healthcare Center Searcy, Arkansas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 648
Initial Costs, Buildings & Building Improvements	[1]	6,017
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	50
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	648
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	6,067
Total	[1]	6,715
Accumulated Depreciation	[1]	$ (420)
Date of construction	[1]	1,973
Date Acquired	[1]	May 31, 2013
LaPorte Cancer Center Westville, Indiana
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 8,013
Initial Costs, Land & Land Improvements	[1]	433
Initial Costs, Buildings & Building Improvements	[1]	10,846
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	433
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	10,846
Total	[1]	11,279
Accumulated Depreciation	[1]	$ (750)
Date of construction	[1]	2,010
Date Acquired	[1]	Jun. 14, 2013
Jefferson Medical Commons Jefferson City, Tennessee
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 7,719
Initial Costs, Land & Land Improvements	[1]	151
Initial Costs, Buildings & Building Improvements	[1]	10,236
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	162
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	151
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	10,398
Total	[1]	10,549
Accumulated Depreciation	[1]	$ (681)
Date of construction	[1]	2,001
Date Acquired	[1]	Jul. 10, 2013
Physicians Plaza A at North Knoxville Medical Center Powell, Tennessee
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 12,044
Initial Costs, Land & Land Improvements	[1]	262
Initial Costs, Buildings & Building Improvements	[1]	16,976
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	262
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	16,976
Total	[1]	17,238
Accumulated Depreciation	[1]	$ (1,132)
Date of construction	[1]	2,005
Date Acquired	[1]	Jul. 10, 2013
Physicians Plaza B at North Knoxville Medical Center Powell, Tennessee
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 14,487
Initial Costs, Land & Land Improvements	[1]	303
Initial Costs, Buildings & Building Improvements	[1]	18,754
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	318
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	303
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	19,072
Total	[1]	19,375
Accumulated Depreciation	[1]	$ (1,255)
Date of construction	[1]	2,008
Date Acquired	[1]	Jul. 10, 2013
Physicians Regional Medical Center - Central Wing Annex Knoxville, Tennessee
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 3,838
Initial Costs, Land & Land Improvements	[1]	73
Initial Costs, Buildings & Building Improvements	[1]	5,285
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	73
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	5,285
Total	[1]	5,358
Accumulated Depreciation	[1]	$ (351)
Date of construction	[1]	2,004
Date Acquired	[1]	Jul. 10, 2013
HarborChase of Jasper Jasper, Alabama
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 355
Initial Costs, Buildings & Building Improvements	[1]	6,358
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	1
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	355
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	6,359
Total	[1]	6,714
Accumulated Depreciation	[1]	$ (408)
Date of construction	[1]	1,998
Date Acquired	[1]	Jul. 31, 2013
Chestnut Commons MOB Elyria, Ohio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 2,053
Initial Costs, Buildings & Building Improvements	[1]	15,650
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,053
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	15,650
Total	[1]	17,703
Accumulated Depreciation	[1]	$ (1,077)
Date of construction	[1]	2,008
Date Acquired	[1]	Aug. 16, 2013
Doctor's Specialty Hospital Leawood, Kansas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 924
Initial Costs, Buildings & Building Improvements	[1]	5,771
Costs Capitalized Subsequent to Acquisition, Land and Improvements	[1]	16
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	940
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	5,771
Total	[1]	6,711
Accumulated Depreciation	[1]	$ (385)
Date of construction	[1]	2,001
Date Acquired	[1]	Aug. 16, 2013
Escondido Medical Arts Center Escondido, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 1,863
Initial Costs, Buildings & Building Improvements	[1]	12,199
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	23
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,863
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	12,222
Total	[1]	14,085
Accumulated Depreciation	[1]	$ (754)
Date of construction	[1]	1,994
Date Acquired	[1]	Aug. 16, 2013
John C. Lincoln Medical Office Plaza I Phoenix, Arizona
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 233
Initial Costs, Buildings & Building Improvements	[1]	2,779
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	34
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	233
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	2,813
Total	[1]	3,046
Accumulated Depreciation	[1]	$ (200)
Date of construction	[1]	1,980
Date Acquired	[1]	Aug. 16, 2013
John C. Lincoln Medical Office Plaza II Phoenix, Arizona
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 138
Initial Costs, Buildings & Building Improvements	[1]	1,908
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	138
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	1,908
Total	[1]	2,046
Accumulated Depreciation	[1]	$ (138)
Date of construction	[1]	1,984
Date Acquired	[1]	Aug. 16, 2013
North Mountain Medical Plaza Phoenix, Arizona
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 297
Initial Costs, Buildings & Building Improvements	[1]	4,079
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	297
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	4,079
Total	[1]	4,376
Accumulated Depreciation	[1]	$ (290)
Date of construction	[1]	1,994
Date Acquired	[1]	Aug. 16, 2013
Raider Ranch Development (Lubbock, TX)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 1,992
Initial Costs, Buildings & Building Improvements	[1]	48,818
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,992
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	48,818
Total	[1]	50,810
Accumulated Depreciation	[1]	$ (2,999)
Date of construction	[1]	2,009
Date Acquired	[1]	Aug. 29, 2013
The Club at Raider Ranch Development Lubbock, Texas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1],[2]	$ 7,528
Initial Costs, Land & Land Improvements	[1],[2]	3,000
Costs Capitalized Subsequent to Acquisition, Land and Improvements	[1],[2]	170
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1],[2]	4,905
Costs Capitalized Subsequent to Acquisition, Construction in Process	[1],[2]	7,824
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1],[2]	3,170
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1],[2]	4,905
Gross Amounts at which Carried at Close of period, Construction in Process	[1],[2]	7,824
Total	[1],[2]	$ 15,899
Date Acquired	[1],[2]	Aug. 29, 2013
Town Village Oklahoma City, Oklahoma
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 1,020
Initial Costs, Buildings & Building Improvements	[1]	19,847
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	45
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,020
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	19,892
Total	[1]	20,912
Accumulated Depreciation	[1]	$ (1,205)
Date of construction	[1]	2,004
Date Acquired	[1]	Aug. 29, 2013
Calvert Medical Arts Center Prince Frederick, Maryland
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 12,427
Initial Costs, Land & Land Improvements	[1]	20
Initial Costs, Buildings & Building Improvements	[1]	17,838
Costs Capitalized Subsequent to Acquisition, Land and Improvements	[1]	1
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	72
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	21
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	17,910
Total	[1]	17,931
Accumulated Depreciation	[1]	$ (1,077)
Date of construction	[1]	2,009
Date Acquired	[1]	Aug. 30, 2013
Calvert MOBs I, II, III Prince Frederick, Maryland
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 10,554
Initial Costs, Land & Land Improvements	[1]	51
Initial Costs, Buildings & Building Improvements	[1]	14,334
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	319
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	51
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	14,653
Total	[1]	14,704
Accumulated Depreciation	[1]	$ (890)
Date Acquired	[1]	Aug. 30, 2013
Calvert Medical Office Building I Prince Frederick, Maryland
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of construction	[1]	1,991
Calvert Medical Office Building II Prince Frederick, Maryland
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of construction	[1]	1,999
Calvert Medical Office Building III Prince Frederick, Maryland
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of construction	[1]	2,000
Dunkirk Medical Center Dunkirk, Maryland
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 2,970
Initial Costs, Land & Land Improvements	[1]	351
Initial Costs, Buildings & Building Improvements	[1]	2,991
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	10
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	351
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	3,001
Total	[1]	3,352
Accumulated Depreciation	[1]	$ (235)
Date of construction	[1]	1,997
Date Acquired	[1]	Aug. 30, 2013
Prestige Senior Living Beaverton Hills
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 9,235
Initial Costs, Land & Land Improvements	[1]	1,387
Initial Costs, Buildings & Building Improvements	[1]	10,324
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,387
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	10,324
Total	[1]	11,711
Accumulated Depreciation	[1]	$ (579)
Date of construction	[1]	2,000
Date Acquired	[1]	Dec. 2, 2013
Prestige Senior Living High Desert
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 7,988
Initial Costs, Land & Land Improvements	[1]	835
Initial Costs, Buildings & Building Improvements	[1]	11,252
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	835
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	11,252
Total	[1]	12,087
Accumulated Depreciation	[1]	$ (656)
Date of construction	[1]	2,003
Date Acquired	[1]	Dec. 2, 2013
MorningStar of Billings
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 19,673
Initial Costs, Land & Land Improvements	[1]	4,067
Initial Costs, Buildings & Building Improvements	[1]	41,373
Costs Capitalized Subsequent to Acquisition, Land and Improvements	[1]	5
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	2
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	4,072
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	41,375
Total	[1]	45,447
Accumulated Depreciation	[1]	$ (2,441)
Date of construction	[1]	2,009
Date Acquired	[1]	Dec. 2, 2013
MorningStar of Boise
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 21,000
Initial Costs, Land & Land Improvements	[1]	1,663
Initial Costs, Buildings & Building Improvements	[1]	35,752
Costs Capitalized Subsequent to Acquisition, Land and Improvements	[1]	12
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,675
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	35,752
Total	[1]	37,427
Accumulated Depreciation	[1]	$ (1,991)
Date of construction	[1]	2,007
Date Acquired	[1]	Dec. 2, 2013
Prestige Senior Living Huntington Terrace
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 10,229
Initial Costs, Land & Land Improvements	[1]	1,236
Initial Costs, Buildings & Building Improvements	[1]	12,083
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	6
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,236
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	12,089
Total	[1]	13,325
Accumulated Depreciation	[1]	$ (688)
Date of construction	[1]	2,000
Date Acquired	[1]	Dec. 2, 2013
MorningStar of Idaho Falls
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 17,966
Initial Costs, Land & Land Improvements	[1]	2,006
Initial Costs, Buildings & Building Improvements	[1]	40,397
Costs Capitalized Subsequent to Acquisition, Land and Improvements	[1]	5
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,011
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	40,397
Total	[1]	42,408
Accumulated Depreciation	[1]	$ (2,294)
Date of construction	[1]	2,009
Date Acquired	[1]	Dec. 2, 2013
Prestige Senior Living Arbor Place
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 8,224
Initial Costs, Land & Land Improvements	[1]	355
Initial Costs, Buildings & Building Improvements	[1]	14,083
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	355
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	14,083
Total	[1]	14,438
Accumulated Depreciation	[1]	$ (782)
Date of construction	[1]	2,003
Date Acquired	[1]	Dec. 2, 2013
Prestige Senior Living Orchard Heights
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 12,351
Initial Costs, Land & Land Improvements	[1]	545
Initial Costs, Buildings & Building Improvements	[1]	15,544
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	18
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	545
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	15,562
Total	[1]	16,107
Accumulated Depreciation	[1]	$ (856)
Date of construction	[1]	2,002
Date Acquired	[1]	Dec. 2, 2013
Prestige Senior Living Southern Hills
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 7,506
Initial Costs, Land & Land Improvements	[1]	653
Initial Costs, Buildings & Building Improvements	[1]	10,753
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	653
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	10,753
Total	[1]	11,406
Accumulated Depreciation	[1]	$ (605)
Date of construction	[1]	2,001
Date Acquired	[1]	Dec. 2, 2013
MorningStar of Sparks
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 23,811
Initial Costs, Land & Land Improvements	[1]	3,986
Initial Costs, Buildings & Building Improvements	[1]	47,968
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	3
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	3,986
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	47,971
Total	[1]	51,957
Accumulated Depreciation	[1]	$ (2,750)
Date of construction	[1]	2,009
Date Acquired	[1]	Dec. 2, 2013
Prestige Senior Living Five Rivers
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 7,738
Initial Costs, Land & Land Improvements	[1]	1,298
Initial Costs, Buildings & Building Improvements	[1]	14,064
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	48
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,298
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	14,112
Total	[1]	15,410
Accumulated Depreciation	[1]	$ (837)
Date of construction	[1]	2,002
Date Acquired	[1]	Dec. 2, 2013
Prestige Senior Living Riverwood
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 4,489
Initial Costs, Land & Land Improvements	[1]	1,028
Initial Costs, Buildings & Building Improvements	[1]	7,429
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	37
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,028
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	7,466
Total	[1]	8,494
Accumulated Depreciation	[1]	$ (434)
Date of construction	[1]	1,999
Date Acquired	[1]	Dec. 2, 2013
Chula Vista Medical Arts Center - Plaza II
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 2,462
Initial Costs, Buildings & Building Improvements	[1]	7,453
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	331
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,462
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	7,784
Total	[1]	10,246
Accumulated Depreciation	[1]	$ (418)
Date of construction	[1]	1,985
Date Acquired	[1]	Dec. 23, 2013
Coral Springs MOB I
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 2,614
Initial Costs, Buildings & Building Improvements	[1]	11,220
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,614
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	11,220
Total	[1]	13,834
Accumulated Depreciation	[1]	$ (664)
Date of construction	[1]	2,005
Date Acquired	[1]	Dec. 23, 2013
Coral Springs MOB II
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 2,614
Initial Costs, Buildings & Building Improvements	[1]	12,130
Costs Capitalized Subsequent to Acquisition, Land and Improvements	[1]	1
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,615
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	12,130
Total	[1]	14,745
Accumulated Depreciation	[1]	$ (663)
Date of construction	[1]	2,008
Date Acquired	[1]	Dec. 23, 2013
Chula Vista Medical Arts Center - Plaza I
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 6,130
Initial Costs, Buildings & Building Improvements	[1]	10,293
Costs Capitalized Subsequent to Acquisition, Land and Improvements	[1]	3
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	200
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	6,133
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	10,493
Total	[1]	16,626
Accumulated Depreciation	[1]	$ (543)
Date of construction	[1]	1,975
Date Acquired	[1]	Jan. 21, 2014
Prestige Senior Living Auburn Meadows
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 10,549
Initial Costs, Land & Land Improvements	[1]	2,537
Initial Costs, Buildings & Building Improvements	[1]	17,261
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,537
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	17,261
Total	[1]	19,798
Accumulated Depreciation	[1]	$ (905)
Date Acquired	[1]	Feb. 3, 2014
Prestige Senior Living Auburn Meadows One
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of construction		2,003
Prestige Senior Living Auburn Meadows Two
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of construction		2,010
Prestige Senior Living Bridgewood
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 13,188
Initial Costs, Land & Land Improvements	[1]	1,603
Initial Costs, Buildings & Building Improvements	[1]	18,172
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,603
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	18,172
Total	[1]	19,775
Accumulated Depreciation	[1]	$ (945)
Date of construction	[1]	2,001
Date Acquired	[1]	Feb. 3, 2014
Prestige Senior Living Monticello Park
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 18,401
Initial Costs, Land & Land Improvements	[1]	1,981
Initial Costs, Buildings & Building Improvements	[1]	23,056
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,981
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	23,056
Total	[1]	25,037
Accumulated Depreciation	[1]	$ (1,183)
Date Acquired	[1]	Feb. 3, 2014
Prestige Senior Living Monticello Park One
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of construction		2,001
Prestige Senior Living Monticello Park Two
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of construction		2,010
Prestige Senior Living Rosemont
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 9,503
Initial Costs, Land & Land Improvements	[1]	668
Initial Costs, Buildings & Building Improvements	[1]	14,564
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	668
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	14,564
Total	[1]	15,232
Accumulated Depreciation	[1]	$ (739)
Date of construction	[1]	2,004
Date Acquired	[1]	Feb. 3, 2014
Wellmore of Tega Cay (Tega Cay, South Carolina)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 23,695
Initial Costs, Land & Land Improvements	[1]	2,445
Costs Capitalized Subsequent to Acquisition, Land and Improvements	[1]	2,733
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	23,380
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	5,178
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	23,380
Total	[1]	28,558
Accumulated Depreciation	[1]	$ (391)
Date Acquired	[1]	Feb. 7, 2014
Isle at Cedar Ridge
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 1,525
Initial Costs, Buildings & Building Improvements	[1]	16,277
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	10
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,525
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	16,287
Total	[1]	17,812
Accumulated Depreciation	[1]	$ (834)
Date of construction	[1]	2,011
Date Acquired	[1]	Feb. 28, 2014
Prestige Senior Living West Hills
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 8,815
Initial Costs, Land & Land Improvements	[1]	842
Initial Costs, Buildings & Building Improvements	[1]	12,603
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	842
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	12,603
Total	[1]	13,445
Accumulated Depreciation	[1]	$ (644)
Date of construction	[1]	2,002
Date Acquired	[1]	Mar. 3, 2014
HarborChase of Plainfield
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 1,596
Initial Costs, Buildings & Building Improvements	[1]	21,832
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,596
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	21,832
Total	[1]	23,428
Accumulated Depreciation	[1]	$ (1,036)
Date of construction	[1]	2,010
Date Acquired	[1]	Mar. 28, 2014
Legacy Ranch Alzheimer's Special Care Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 917
Initial Costs, Buildings & Building Improvements	[1]	9,982
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	917
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	9,982
Total	[1]	10,899
Accumulated Depreciation	[1]	$ (483)
Date of construction	[1]	2,012
Date Acquired	[1]	Mar. 28, 2014
The Springs Alzheimer's Special Care Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 595
Initial Costs, Buildings & Building Improvements	[1]	9,658
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	595
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	9,658
Total	[1]	10,253
Accumulated Depreciation	[1]	$ (467)
Date of construction	[1]	2,012
Date Acquired	[1]	Mar. 28, 2014
Isle at Watercrest - Bryan
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 714
Initial Costs, Buildings & Building Improvements	[1]	18,140
Costs Capitalized Subsequent to Acquisition, Land and Improvements	[1]	4
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	6
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	718
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	18,146
Total	[1]	18,864
Accumulated Depreciation	[1]	$ (809)
Date of construction	[1]	2,011
Date Acquired	[1]	Apr. 21, 2014
Watercrest at Bryan
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 2,509
Initial Costs, Buildings & Building Improvements	[1]	22,441
Costs Capitalized Subsequent to Acquisition, Land and Improvements	[1]	4
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	14
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,513
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	22,455
Total	[1]	24,968
Accumulated Depreciation	[1]	$ (1,084)
Date of construction	[1]	2,009
Date Acquired	[1]	Apr. 21, 2014
Isle at Watercrest - Mansfield
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 997
Initial Costs, Buildings & Building Improvements	[1]	24,635
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	997
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	24,635
Total	[1]	25,632
Accumulated Depreciation	[1]	$ (1,090)
Date of construction	[1]	2,011
Date Acquired	[1]	May 5, 2014
Houston Orthopedic & Spine Hospital
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 31,480
Initial Costs, Land & Land Improvements	[1]	3,867
Initial Costs, Buildings & Building Improvements	[1]	32,761
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	3,867
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	32,761
Total	[1]	36,628
Accumulated Depreciation	[1]	$ (1,353)
Date of construction	[1]	2,007
Date Acquired	[1]	Jun. 2, 2014
Houston Orthopedic & Spine Hospital Medical Office Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 17,348
Initial Costs, Land & Land Improvements	[1]	3,738
Initial Costs, Buildings & Building Improvements	[1]	20,525
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	170
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	3,738
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	20,695
Total	[1]	24,433
Accumulated Depreciation	[1]	$ (859)
Date of construction	[1]	2,007
Date Acquired	[1]	Jun. 2, 2014
Watercrest at Katy (Katy, Texas)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 10,632
Initial Costs, Land & Land Improvements	[1]	4,000
Costs Capitalized Subsequent to Acquisition, Construction in Process	[1]	22,565
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	4,000
Gross Amounts at which Carried at Close of period, Construction in Process	[1]	22,565
Total	[1]	$ 26,565
Date Acquired	[1]	Jun. 27, 2014
Watercrest at Mansfield
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 26,628
Initial Costs, Land & Land Improvements	[1]	2,191
Initial Costs, Buildings & Building Improvements	[1]	42,740
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	56
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,191
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	42,796
Total	[1]	44,987
Accumulated Depreciation	[1]	$ (1,718)
Date of construction	[1]	2,010
Date Acquired	[1]	Jun. 30, 2014
HarborChase Of Shorewood (Shorewood, WI)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 12,469
Initial Costs, Land & Land Improvements	[1]	2,200
Costs Capitalized Subsequent to Acquisition, Land and Improvements	[1]	294
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	19,805
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,494
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	19,805
Total	[1]	22,299
Accumulated Depreciation	[1]	$ (44)
Date Acquired	[1]	Jul. 8, 2014
Oklahoma City Inpatient Rehabilitation Hospital
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 16,203
Initial Costs, Land & Land Improvements	[1]	3,341
Initial Costs, Buildings & Building Improvements	[1]	19,249
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	3,341
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	19,249
Total	[1]	22,590
Accumulated Depreciation	[1]	$ (814)
Date of construction	[1]	2,012
Date Acquired	[1]	Jul. 15, 2014
Las Vegas Inpatient Rehabilitation Hospital
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 14,163
Initial Costs, Land & Land Improvements	[1]	2,650
Initial Costs, Buildings & Building Improvements	[1]	16,979
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,650
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	16,979
Total	[1]	19,629
Accumulated Depreciation	[1]	$ (726)
Date of construction	[1]	2,007
Date Acquired	[1]	Jul. 15, 2014
South Bend Inpatient Rehabilitation Hospital
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 12,860
Initial Costs, Land & Land Improvements	[1]	2,339
Initial Costs, Buildings & Building Improvements	[1]	16,239
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,339
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	16,239
Total	[1]	18,578
Accumulated Depreciation	[1]	$ (703)
Date of construction	[1]	2,009
Date Acquired	[1]	Jul. 15, 2014
Beaumont Specialty Hospital
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 21,347
Initial Costs, Land & Land Improvements	[1]	2,749
Initial Costs, Buildings & Building Improvements	[1]	28,863
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,749
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	28,863
Total	[1]	31,612
Accumulated Depreciation	[1]	$ (1,102)
Date of construction	[1]	2,013
Date Acquired	[1]	Aug. 15, 2014
Hurst Specialty Hospital
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 18,722
Initial Costs, Land & Land Improvements	[1]	2,510
Initial Costs, Buildings & Building Improvements	[1]	24,091
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,510
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	24,091
Total	[1]	26,601
Accumulated Depreciation	[1]	$ (921)
Date Acquired	[1]	Aug. 15, 2014
Hurst Specialty Hospital One
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of construction		2,004
Hurst Specialty Hospital Two
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of construction		2,012
Claremont Medical Office
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 12,683
Initial Costs, Land & Land Improvements	[1]	6,324
Initial Costs, Buildings & Building Improvements	[1]	13,533
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	6,324
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	13,533
Total	[1]	19,857
Accumulated Depreciation	[1]	$ (532)
Date of construction	[1]	2,008
Date Acquired	[1]	Aug. 29, 2014
Lee Hughes Medical Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 18,632
Initial Costs, Land & Land Improvements	[1]	69
Initial Costs, Buildings & Building Improvements	[1]	22,967
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	17
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	69
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	22,984
Total	[1]	23,053
Accumulated Depreciation	[1]	$ (743)
Date of construction	[1]	2,008
Date Acquired	[1]	Sep. 29, 2014
Newburyport Medical Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 2,614
Initial Costs, Buildings & Building Improvements	[1]	12,135
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,614
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	12,135
Total	[1]	14,749
Accumulated Depreciation	[1]	$ (432)
Date of construction	[1]	2,008
Date Acquired	[1]	Oct. 31, 2014
Northwest Medical Park
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 7,008
Initial Costs, Land & Land Improvements	[1]	610
Initial Costs, Buildings & Building Improvements	[1]	6,170
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	610
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	6,170
Total	[1]	6,780
Accumulated Depreciation	[1]	$ (232)
Date of construction	[1]	2,004
Date Acquired	[1]	Oct. 31, 2014
Fairfield Village of Layton
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 5,217
Initial Costs, Buildings & Building Improvements	[1]	54,167
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	5
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	5,217
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	54,172
Total	[1]	59,389
Accumulated Depreciation	[1]	$ (1,667)
Date of construction	[1]	2,010
Date Acquired	[1]	Nov. 20, 2014
ProMed Medical Building I
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 7,050
Initial Costs, Land & Land Improvements	[1]	2,486
Initial Costs, Buildings & Building Improvements	[1]	6,728
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,486
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	6,728
Total	[1]	9,214
Accumulated Depreciation	[1]	$ (201)
Date of construction	[1]	2,006
Date Acquired	[1]	Dec. 19, 2014
Midtown Medical Plaza
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 29,378
Initial Costs, Land & Land Improvements	[1]	10
Initial Costs, Buildings & Building Improvements	[1]	51,237
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	3
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	10
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	51,240
Total	[1]	51,250
Accumulated Depreciation	[1]	$ (1,314)
Date of construction	[1]	1,994
Date Acquired	[1]	Dec. 22, 2014
Presbyterian Medical Tower
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 19,528
Initial Costs, Land & Land Improvements	[1]	40
Initial Costs, Buildings & Building Improvements	[1]	32,345
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	40
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	32,345
Total	[1]	32,385
Accumulated Depreciation	[1]	$ (832)
Date of construction	[1]	1,989
Date Acquired	[1]	Dec. 22, 2014
Metroview Professional Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 9,276
Initial Costs, Land & Land Improvements	[1]	11
Initial Costs, Buildings & Building Improvements	[1]	15,910
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	11
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	15,910
Total	[1]	15,921
Accumulated Depreciation	[1]	$ (409)
Date of construction	[1]	1,971
Date Acquired	[1]	Dec. 22, 2014
Physicians Plaza Huntersville
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 16,306
Initial Costs, Land & Land Improvements	[1]	520
Initial Costs, Buildings & Building Improvements	[1]	26,134
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	520
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	26,134
Total	[1]	26,654
Accumulated Depreciation	[1]	$ (705)
Date of construction	[1]	2,004
Date Acquired	[1]	Dec. 22, 2014
Matthews Medical Office Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 11,441
Initial Costs, Land & Land Improvements	[1]	350
Initial Costs, Buildings & Building Improvements	[1]	19,624
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	350
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	19,624
Total	[1]	19,974
Accumulated Depreciation	[1]	$ (527)
Date of construction	[1]	1,994
Date Acquired	[1]	Dec. 22, 2014
Outpatient Care Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 10,690
Initial Costs, Land & Land Improvements	[1]	1,169
Initial Costs, Buildings & Building Improvements	[1]	12,079
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,169
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	12,079
Total	[1]	13,248
Accumulated Depreciation	[1]	$ (317)
Date of construction	[1]	2,012
Date Acquired	[1]	Dec. 22, 2014
Clyde, NC ("Asheville") 330 Physicians Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 19,901
Initial Costs, Land & Land Improvements	[1]	12
Initial Costs, Buildings & Building Improvements	[1]	26,868
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	12
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	26,868
Total	[1]	26,880
Accumulated Depreciation	[1]	$ (690)
Date Acquired	[1]	Dec. 22, 2014
Clyde, NC ("Asheville") 330 Physicians Center one
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of construction		1,987
Clyde, NC ("Asheville") 330 Physicians Center Two
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of construction		2,005
Spivey Station Physicians Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 9,735
Initial Costs, Land & Land Improvements	[1]	1,026
Initial Costs, Buildings & Building Improvements	[1]	12,246
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,026
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	12,246
Total	[1]	13,272
Accumulated Depreciation	[1]	$ (345)
Date of construction	[1]	2,007
Date Acquired	[1]	Dec. 22, 2014
Spivey Station ASC Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 12,448
Initial Costs, Land & Land Improvements	[1]	929
Initial Costs, Buildings & Building Improvements	[1]	13,769
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	929
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	13,769
Total	[1]	14,698
Accumulated Depreciation	[1]	$ (381)
Date of construction	[1]	2,009
Date Acquired	[1]	Dec. 22, 2014
Novi Orthopaedic Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 19,825
Initial Costs, Land & Land Improvements	[1]	1,314
Initial Costs, Buildings & Building Improvements	[1]	26,239
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,314
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	26,239
Total	[1]	27,553
Accumulated Depreciation	[1]	$ (697)
Date of construction	[1]	2,008
Date Acquired	[1]	Feb. 13, 2015
UT Cancer Institute Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 21,503
Initial Costs, Land & Land Improvements	[1]	421
Initial Costs, Buildings & Building Improvements	[1]	27,621
Costs Capitalized Subsequent to Acquisition, Buildings and Building Improvements	[1]	3
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	421
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	27,624
Total	[1]	28,045
Accumulated Depreciation	[1]	$ (614)
Date of construction	[1]	2,012
Date Acquired	[1]	Feb. 20, 2015
Fieldstone Memory Care
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 1,297
Initial Costs, Buildings & Building Improvements	[1]	9,965
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,297
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	9,965
Total	[1]	11,262
Accumulated Depreciation	[1]	$ (212)
Date of construction	[1]	2,014
Date Acquired	[1]	Feb. 13, 2015
Bend Memorial Clinic MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 9,069
Initial Costs, Buildings & Building Improvements	[1]	19,867
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	9,069
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	19,867
Total	[1]	28,936
Accumulated Depreciation	[1]	$ (410)
Date of construction	[1]	1,976
Date Acquired	[1]	May 11, 2015
Stoneterra Medical Plaza
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 2,864
Initial Costs, Buildings & Building Improvements	[1]	10,412
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,864
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	10,412
Total	[1]	13,276
Accumulated Depreciation	[1]	$ (175)
Date of construction	[1]	2,006
Date Acquired	[1]	May 29, 2015
Primrose Retirement Center of Anderson
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 1,342
Initial Costs, Buildings & Building Improvements	[1]	19,083
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,342
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	19,083
Total	[1]	20,425
Accumulated Depreciation	[1]	$ (314)
Date of construction	[1]	2,008
Date Acquired	[1]	May 29, 2015
Primrose Retirement Center of Lancaster
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 2,840
Initial Costs, Buildings & Building Improvements	[1]	21,884
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,840
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	21,884
Total	[1]	24,724
Accumulated Depreciation	[1]	$ (397)
Date of construction	[1]	2,007
Date Acquired	[1]	May 29, 2015
Primrose Retirement Center of Wausau
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 1,089
Initial Costs, Buildings & Building Improvements	[1]	18,653
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,089
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	18,653
Total	[1]	19,742
Accumulated Depreciation	[1]	$ (295)
Date of construction	[1]	2,008
Date Acquired	[1]	May 29, 2015
Triangle Orthopaedic Durham
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 3,191
Initial Costs, Buildings & Building Improvements	[1]	14,523
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	3,191
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	14,523
Total	[1]	17,714
Accumulated Depreciation	[1]	$ (210)
Date of construction	[1]	2,000
Date Acquired	[1]	Jun. 29, 2015
Triangle Orthopaedic Roxboro
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 287
Initial Costs, Buildings & Building Improvements	[1]	1,406
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	287
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	1,406
Total	[1]	1,693
Accumulated Depreciation	[1]	$ (22)
Date of construction	[1]	2,000
Date Acquired	[1]	Jun. 29, 2015
Triangle Orthopaedic Chapel Hill
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 360
Initial Costs, Buildings & Building Improvements	[1]	2,306
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	360
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	2,306
Total	[1]	2,666
Accumulated Depreciation	[1]	$ (33)
Date of construction	[1]	2,011
Date Acquired	[1]	Jun. 29, 2015
Triangle Orthopaedic Oxford
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 658
Initial Costs, Buildings & Building Improvements	[1]	3,074
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	658
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	3,074
Total	[1]	3,732
Accumulated Depreciation	[1]	$ (48)
Date of construction	[1]	2,011
Date Acquired	[1]	Jun. 29, 2015
North Carolina Specialty Hospital
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 3,173
Initial Costs, Buildings & Building Improvements	[1]	22,762
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	3,173
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	22,762
Total	[1]	25,935
Accumulated Depreciation	[1]	$ (315)
Date of construction	[1]	2,004
Date Acquired	[1]	Jun. 29, 2015
Doctor's Park Building B
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 1,161
Initial Costs, Buildings & Building Improvements	[1]	2,919
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,161
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	2,919
Total	[1]	4,080
Accumulated Depreciation	[1]	$ (43)
Date of construction	[1]	2,008
Date Acquired	[1]	Jun. 30, 2015
Doctor's Park Building C
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 2,323
Initial Costs, Buildings & Building Improvements	[1]	6,351
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,323
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	6,351
Total	[1]	8,674
Accumulated Depreciation	[1]	$ (92)
Date of construction	[1]	2,006
Date Acquired	[1]	Jun. 30, 2015
Superior Residences of Panama City
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 2,099
Initial Costs, Buildings & Building Improvements	[1]	19,367
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,099
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	19,367
Total	[1]	21,466
Accumulated Depreciation	[1]	$ (273)
Date of construction	[1]	2,015
Date Acquired	[1]	Jul. 15, 2015
540 New Waverly Place
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	[1]	$ 7,048
Initial Costs, Land & Land Improvements	[1]	2,476
Initial Costs, Buildings & Building Improvements	[1]	11,009
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,476
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	11,009
Total	[1]	13,485
Accumulated Depreciation	[1]	$ (136)
Date of construction	[1]	2,007
Date Acquired	[1]	Jul. 20, 2015
MedHelp
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 2,270
Initial Costs, Buildings & Building Improvements	[1]	10,359
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,270
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	10,359
Total	[1]	12,629
Accumulated Depreciation	[1]	$ (119)
Date of construction	[1]	2,015
Date Acquired	[1]	Jul. 31, 2015
Patriot Professional Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 3,912
Initial Costs, Buildings & Building Improvements	[1]	11,781
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	3,912
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	11,781
Total	[1]	15,693
Accumulated Depreciation	[1]	$ (146)
Date Acquired	[1]	Jul. 31, 2015
Patriot Professional Center One
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of construction		2,006
Patriot Professional Center Two
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of construction		2,014
Liberty Professional Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 1,977
Initial Costs, Buildings & Building Improvements	[1]	4,462
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,977
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	4,462
Total	[1]	6,439
Accumulated Depreciation	[1]	$ (54)
Date Acquired	[1]	Jul. 31, 2015
Liberty Professional Center One
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of construction		1,979
Liberty Professional Center Two
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of construction		2,013
The Hampton at Meadows Place
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 715
Initial Costs, Buildings & Building Improvements	[1]	24,281
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	715
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	24,281
Total	[1]	24,996
Accumulated Depreciation	[1]	$ (263)
Date Acquired	[1]	Jul. 31, 2015
The Hampton at Meadows Place One
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of construction		2,007
The Hampton at Meadows Place Two
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of construction		2,013
The Hampton at Meadows Place Three
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of construction		2,014
The Pavilion at Great Hills
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 1,783
Initial Costs, Buildings & Building Improvements	[1]	29,318
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,783
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	29,318
Total	[1]	31,101
Accumulated Depreciation	[1]	$ (321)
Date of construction	[1]	2,010
Date Acquired	[1]	Jul. 31, 2015
The Beacon at Gulf Breeze
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 824
Initial Costs, Buildings & Building Improvements	[1]	24,106
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	824
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	24,106
Total	[1]	24,930
Accumulated Depreciation	[1]	$ (273)
Date of construction	[1]	2,008
Date Acquired	[1]	Jul. 31, 2015
Parc at Piedmont
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 3,529
Initial Costs, Buildings & Building Improvements	[1]	43,080
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	3,529
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	43,080
Total	[1]	46,609
Accumulated Depreciation	[1]	$ (489)
Date Acquired	[1]	Jul. 31, 2015
Parc at Piedmont One
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of construction		2,001
Parc at Piedmont Two
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of construction		2,011
Parc at Duluth
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 5,951
Initial Costs, Buildings & Building Improvements	[1]	42,458
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	5,951
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	42,458
Total	[1]	48,409
Accumulated Depreciation	[1]	$ (481)
Date Acquired	[1]	Jul. 31, 2015
Parc at Duluth One
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of construction		2,003
Parc at Duluth Two
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of construction		2,012
Broadway Medical Plaza 1
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 437
Initial Costs, Buildings & Building Improvements	[1]	9,281
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	437
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	9,281
Total	[1]	9,718
Accumulated Depreciation	[1]	$ (89)
Date of construction	[1]	1,994
Date Acquired	[1]	Aug. 21, 2015
Broadway Medical Plaza 2
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 386
Initial Costs, Buildings & Building Improvements	[1]	12,460
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	386
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	12,460
Total	[1]	12,846
Accumulated Depreciation	[1]	$ (115)
Date of construction	[1]	1,999
Date Acquired	[1]	Aug. 21, 2015
Broadway Medical Plaza 4
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 170
Initial Costs, Buildings & Building Improvements	[1]	12,118
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	170
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	12,118
Total	[1]	12,288
Accumulated Depreciation	[1]	$ (107)
Date of construction	[1]	2,007
Date Acquired	[1]	Aug. 21, 2015
Waterstone
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 2,253
Costs Capitalized Subsequent to Acquisition, Construction in Process	[1]	4,932
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,253
Gross Amounts at which Carried at Close of period, Construction in Process	[1]	4,932
Total	[1]	$ 7,185
Date Acquired	[1]	Aug. 31, 2015
Welbrook Senior Living Grand Junction (Grand Junction, CO)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 1,050
Costs Capitalized Subsequent to Acquisition, Construction in Process	[1]	2,148
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,050
Gross Amounts at which Carried at Close of period, Construction in Process	[1]	2,148
Total	[1]	$ 3,198
Date Acquired	[1]	Sep. 4, 2015
Wellmore of Lexington (Lexington, SC)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 2,300
Costs Capitalized Subsequent to Acquisition, Construction in Process	[1]	6,423
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,300
Gross Amounts at which Carried at Close of period, Construction in Process	[1]	6,423
Total	[1]	$ 8,723
Date Acquired	[1]	Sep. 14, 2015
Palmilla Senior Living
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 4,701
Initial Costs, Buildings & Building Improvements	[1]	38,321
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	4,701
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	38,321
Total	[1]	43,022
Accumulated Depreciation	[1]	$ (261)
Date of construction	[1]	2,013
Date Acquired	[1]	Sep. 30, 2015
Cedar Lake Assisted Living and Memory Care
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 2,412
Initial Costs, Buildings & Building Improvements	[1]	25,126
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,412
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	25,126
Total	[1]	27,538
Accumulated Depreciation	[1]	$ (171)
Date of construction	[1]	2,014
Date Acquired	[1]	Sep. 30, 2015
Fieldstone at Pear Orchard (Yakima, Washington)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 1,035
Costs Capitalized Subsequent to Acquisition, Construction in Process	[1]	1,571
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,035
Gross Amounts at which Carried at Close of period, Construction in Process	[1]	1,571
Total	[1]	$ 2,606
Date Acquired	[1]	Oct. 12, 2015
The Shores of Lake Phalen
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 2,724
Initial Costs, Buildings & Building Improvements	[1]	25,093
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,724
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	25,093
Total	[1]	27,817
Accumulated Depreciation	[1]	$ (113)
Date of construction	[1]	2,012
Date Acquired	[1]	Nov. 10, 2015
Dogwood Forest of Grayson
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 1,788
Costs Capitalized Subsequent to Acquisition, Construction in Process	[1]	2,185
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,788
Gross Amounts at which Carried at Close of period, Construction in Process	[1]	2,185
Total	[1]	$ 3,973
Date Acquired	[1]	Nov. 24, 2015
Center One
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 8,294
Initial Costs, Buildings & Building Improvements	[1]	21,756
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	8,294
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	21,756
Total	[1]	$ 30,050
Date of construction	[1]	2,006
Date Acquired	[1]	Nov. 30, 2015
Red Bank Professional Office Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 1,721
Initial Costs, Buildings & Building Improvements	[1]	7,721
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,721
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	7,721
Total	[1]	9,442
Accumulated Depreciation	[1]	$ (18)
Date of construction	[1]	2,001
Date Acquired	[1]	Dec. 14, 2015
Park Place Senior Living at WingHaven
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 1,283
Initial Costs, Buildings & Building Improvements	[1]	48,221
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,283
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	48,221
Total	[1]	$ 49,504
Date Acquired	[1]	Dec. 17, 2015
Park Place Senior Living at WingHaven One
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of construction		2,006
Park Place Senior Living at WingHaven Two
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Date of construction		2,014
Siena Pavilion IV
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 1,454
Initial Costs, Buildings & Building Improvements	[1]	4,786
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,454
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	4,786
Total	[1]	$ 6,240
Date of construction	[1]	2,002
Date Acquired	[1]	Dec. 18, 2015
Siena Pavilion V
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 3,944
Initial Costs, Buildings & Building Improvements	[1]	20,355
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	3,944
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	20,355
Total	[1]	$ 24,299
Date of construction	[1]	2,003
Date Acquired	[1]	Dec. 18, 2015
Siena Pavilion VI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 2,599
Initial Costs, Buildings & Building Improvements	[1]	18,725
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,599
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	18,725
Total	[1]	$ 21,324
Date of construction	[1]	2,005
Date Acquired	[1]	Dec. 18, 2015
Hearthside Senior Living of Collierville
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 1,905
Initial Costs, Buildings & Building Improvements	[1]	13,379
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	1,905
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	13,379
Total	[1]	$ 15,284
Date of construction	[1]	2,014
Date Acquired	[1]	Dec. 29, 2015
Cobalt Rehabilitation Hospital Surprise
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Land & Land Improvements	[1]	$ 2,464
Initial Costs, Buildings & Building Improvements	[1]	17,983
Gross Amounts at which Carried at Close of period, Land & Land Improvements	[1]	2,464
Gross Amounts at which Carried at Close of period, Building & Building Improvements	[1]	17,983
Total	[1]	$ 20,447
Date of construction	[1]	2,015
Date Acquired	[1]	Dec. 30, 2015
[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]	Land and land improvements, initial cost, include the purchase price of land under development which is included as a component of construction in process in the consolidated balance sheets. As of December 31, 2015 these properties were under development; therefore, depreciation is not applicable.

Schedule III-Real Estate And 99

Schedule III-Real Estate And Accumulated Depreciation Transactions in Real Estate and Accumulated Depreciation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Real Estate gross carrying value, Beginning Balance	$ 1,721,429	$ 859,877	$ 235,945
Acquisitions	802,456	822,305	598,176	$ 231,398
Improvements	65,018	39,247	25,756	4,547
Real Estate gross carrying value, Ending Balance	2,588,903	1,721,429	859,877	235,945
Real Estate accumulated depreciation, Beginning Balance	(40,467)	(11,011)	(1,702)
Depreciation	(49,734)	(29,456)	(9,309)	(1,702)
Real Estate accumulated depreciation, Ending Balance	$ (90,201)	$ (40,467)	$ (11,011)	$ (1,702)

Schedule III-Real Estate And100

Schedule III-Real Estate And Accumulated Depreciation (Parenthetical) (Detail) $ in Billions	12 Months Ended
	Dec. 31, 2015USD ($)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Aggregate cost for federal income tax purpose	$ 2.9
Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Buildings and improvements useful life	39 years
Building Improvements
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Buildings and improvements useful life	15 years

Schedule IV-Mortgage Loans O101

Schedule IV-Mortgage Loans On Real Estate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Mortgage Loans On Real Estate [Abstract]
Balance at beginning of year	$ 3,949
New mortgage loans and additional advances	2,065	$ 3,741
Accrued and deferred interest	288	124
Loan origination costs, net		84
Collection of principal	$ (6,302)
Balance at end of year		$ 3,949