CNL Healthcare Properties (CHTH) 10-Q13 May 192019 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2019	May 09, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Entity Registrant Name	CNL Healthcare Properties, Inc.
Entity Trading Symbol	CHP
Entity Central Index Key	0001496454
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		173,963,445

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands		Mar. 31, 2019	Dec. 31, 2018
ASSETS
Real estate investment properties, net (including VIEs $144,946 and $146,341, respectively)		$ 1,443,181	$ 1,455,149
Assets held for sale, net (including VIEs $40,124 and $39,601, respectively)		1,151,223	1,147,645
Restricted cash (including VIEs $489 and $208, respectively)		82,540	6,119
Cash (including VIEs $947 and $342, respectively)		64,085	57,109
Deferred rent and lease incentives (including VIEs $7,639 and $7,160, respectively)		15,171	14,763
Other assets (including VIEs $530 and $678, respectively)		17,684	23,488
Intangibles, net		1,516	1,614
Total assets		2,775,400	2,705,887
Liabilities:
Mortgages and other notes payable, net (including VIEs $102,526 and $102,578, respectively)		528,007	530,644
Credit facilities		412,486	425,613
Liabilities associated with assets held for sale (including VIEs $30,764 and $30,695, respectively)		790,913	774,019
Other liabilities (including VIEs $948 and $1,321, respectively)		86,339	8,548
Accounts payable and accrued liabilities (including VIEs $841 and $784, respectively)		19,785	21,882
Due to related parties	[1]	3,526	3,255
Total liabilities		1,841,056	1,763,961
Commitments and contingencies (Note 13)
Redeemable noncontrolling interest		574	579
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, 186,626 and 186,626 shares issued, and 173,963 and 173,963 shares outstanding, respectively		1,740	1,740
Capital in excess of par value		1,516,949	1,516,543
Accumulated loss		(220,765)	(233,847)
Accumulated distributions		(365,593)	(345,347)
Accumulated other comprehensive income		285	1,177
Total stockholders' equity		932,616	940,266
Noncontrolling interest		1,154	1,081
Total equity		934,344	941,926
Total liabilities and equity		$ 2,775,400	$ 2,705,887

[1]	Amounts are recorded as due to related parties in the accompanying condensed consolidated balance sheets.

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands		Mar. 31, 2019	Dec. 31, 2018
Real estate investment properties, net		$ 1,443,181	$ 1,455,149
Assets held for sale, net		1,151,223	1,147,645
Restricted cash		82,540	6,119
Cash		64,085	57,109
Deferred rent and lease incentives		15,171	14,763
Other assets		17,684	23,488
Mortgages and other notes payable, net		528,007	530,644
Liabilities associated with assets held for sale		790,913	774,019
Other liabilities		86,339	8,548
Accounts payable and accrued liabilities		$ 19,785	$ 21,882
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		186,626,000	186,626,000
Common stock, shares outstanding		173,963,000	173,963,000
VIEs
Real estate investment properties, net		$ 144,946	$ 146,341
Assets held for sale, net	[1]	40,124	39,601
Restricted cash		489	208
Cash		947	342
Deferred rent and lease incentives		7,639	7,160
Other assets		530	678
Mortgages and other notes payable, net		102,526	102,578
Liabilities associated with assets held for sale	[1]	30,764	30,695
Other liabilities		948	1,321
Accounts payable and accrued liabilities		$ 841	$ 784

[1]	Refer to Note 5. “Assets and Associated Liabilities Held For Sale and Discontinued Operations” for additional information.

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues:
Rental income and related revenues	$ 8,923	$ 8,800
Resident fees and services	$ 71,275	$ 67,519
Type of revenue [extensible list]	us-gaap:HealthCareResidentServiceMember	us-gaap:HealthCareResidentServiceMember
Total revenues	$ 80,198	$ 76,319
Operating expenses:
Property operating expenses	46,015	44,268
General and administrative expenses	2,959	3,166
Depreciation and amortization	12,334	14,895
Total operating expenses	69,369	71,143
Operating income	10,829	5,176
Other income (expense):
Interest and other income	453	44
Interest expense and loan cost amortization	(11,289)	(10,410)
Equity in earnings of unconsolidated entity	96	87
Total other expense	(10,740)	(10,279)
Income (loss) before income taxes	89	(5,103)
Income tax expense	(655)	(617)
Loss from continuing operations	(566)	(5,720)
Income (loss) from discontinued operations	10,474	(2,178)
Net income (loss)	9,908	(7,898)
Less: Amounts attributable to noncontrolling interests
Net loss from continuing operations		(22)
Net income (loss) from discontinued operations	8	(2)
Net income (loss) attributable to common stockholders	$ 9,900	$ (7,874)
Net income (loss) per share of common stock (basic and diluted)
Continuing operations	$ 0	$ (0.03)
Discontinued operations	$ 0.06	$ (0.01)
Weighted average number of shares of common stock outstanding (basic and diluted)	173,963	174,854
Asset Management Fees
Operating expenses:
Asset / Property management fees	$ 4,593	$ 4,566
Property Management Fees
Operating expenses:
Asset / Property management fees	$ 3,468	$ 4,248

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ 9,908	$ (7,898)
Other comprehensive (loss) income:
Unrealized (loss) gain on derivative financial instruments, net	(892)	3,027
Reclassification of cash flow hedges upon derecognition		126
Total other comprehensive (loss) income	(892)	3,153
Comprehensive income (loss)	9,016	(4,745)
Less: Comprehensive income (loss) attributable to noncontrolling interest	8	(24)
Comprehensive income (loss) attributable to common stockholders	$ 9,008	$ (4,721)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND REDEEMABLE NONCONTROLLING INTEREST (UNAUDITED) - USD ($)	Total	Redeemable Noncontrolling Interest	Common Stock	Capital in Excess of Par Value	Accumulated Loss	Accumulated Distributions	Accumulated Other Comprehensive Income (Loss)	Total Stockholders' Equity	Non- controlling Interest
Balance at Dec. 31, 2017	$ 1,052,660,000	$ 425,000	$ 1,747,000	$ 1,523,372,000	$ (208,775,000)	$ (264,283,000)	$ (985,000)	$ 1,051,076,000	$ 1,159,000
Beginning Balance (in shares) at Dec. 31, 2017			174,634,000
Subscriptions received for common stock through reinvestment plan	$ 11,078,000		$ 11,000		11,067,000			11,078,000
Subscriptions received for common stock through public offering and reinvestment plan (in shares)	1,100,000		1,073,000
Redemptions of common stock	$ (17,385,000)		$ (17,000)	(17,368,000)				(17,385,000)
Redemption of common stock, shares			(1,716,000)
Net income (loss)	(7,898,000)	(2,000)			(7,874,000)			(7,874,000)	(22,000)
Other comprehensive income	3,153,000						3,153,000	3,153,000
Cash distributions declared	(20,324,000)					(20,324,000)		(20,324,000)
Contribution from noncontrolling interests	4,000	4,000
Balance at Mar. 31, 2018	1,021,288,000	427,000	$ 1,741,000	1,517,071,000	(216,649,000)	(284,607,000)	2,168,000	1,019,724,000	1,137,000
Ending Balance (in shares) at Mar. 31, 2018			173,991,000
Balance at Dec. 31, 2018	$ 941,926,000	579,000	$ 1,740,000	1,516,543,000	(233,847,000)	(345,347,000)	1,177,000	940,266,000	1,081,000
Beginning Balance (in shares) at Dec. 31, 2018	173,963,000		173,963,000
Adoption of new lease standard (refer to Note 2) \| Adoption of ASC 842	$ 3,182,000				3,182,000			3,182,000
Subscriptions received for common stock through reinvestment plan	0
Net income (loss)	9,908,000	(5,000)			9,900,000			9,900,000	13,000
Other comprehensive income	(892,000)						(892,000)	(892,000)
Distributions to holders of promoted interest	406,000			406,000				406,000
Cash distributions declared	(20,246,000)					(20,246,000)		(20,246,000)
Contribution from noncontrolling interests	60,000								60,000
Balance at Mar. 31, 2019	$ 934,344,000	$ 574,000	$ 1,740,000	$ 1,516,949,000	$ (220,765,000)	$ (365,593,000)	$ 285,000	$ 932,616,000	$ 1,154,000
Ending Balance (in shares) at Mar. 31, 2019	173,963,000		173,963,000

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND REDEEMABLE NONCONTROLLING INTEREST (UNAUDITED) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement Of Stockholders Equity [Abstract]
Cash distributions, declared per share	$ 0.11639	$ 0.11639

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operating activities:
Net cash flows provided by operating activities – continuing operations	$ 17,822	$ 9,735
Net cash flows provided by operating activities – discontinued operations	8,333	8,052
Net cash flows provided by operating activities	26,155	17,787
Investing activities:
Development of properties		(819)
Deposits on sale of real estate	77,500
Capital expenditures	(586)	(1,956)
Other investing activities	1,696	(450)
Net cash provided by (used in) investing activities – continuing operations	78,610	(3,225)
Net cash used in investing activities – discontinued operations	(1,196)	(518)
Net cash provided by (used in) investing activities	77,414	(3,743)
Financing activities:
Distributions to stockholders, net of distribution reinvestments	(20,246)	(9,246)
Redemptions of common stock		(11,711)
Draws under credit facilities	5,000	15,000
Proceeds from mortgages and other notes payable	178	1,500
Principal payments on mortgages and other notes payable	(4,788)	(5,662)
Other financing activities	(278)	(1,561)
Net cash flows used in by financing activities	(20,134)	(11,680)
Net increase in cash and restricted cash	83,435	2,364
Cash and restricted cash at beginning of period, including assets held for sale	65,501	74,691
Cash and restricted cash at end of period, including assets held for sale	$ 148,936	77,055
Amounts incurred but not paid (including amounts due to related parties):
Redemptions payable		$ 17,385

Organization

Organization	3 Months Ended
Organization	Mar. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization	1. Organization CNL Healthcare Properties, Inc. (“Company”) is a Maryland corporation that incorporated on June 8, 2010 and elected to be taxed as a real estate investment trust (“REIT”) for United States (“U.S.”) federal income tax purposes beginning with the year ended December 31, 2012. The Company’s intention is to be organized and operate in a manner that allows us to remain qualified as a REIT for U.S. federal income tax purposes. The Company conducts substantially all of its operations either directly or indirectly through: (1) an operating partnership, CHP Partners, LP (“Operating Partnership”), in which the Company is the sole limited partner and its wholly-owned subsidiary, CHP GP, LLC, is the sole general partner; (2) a wholly-owned taxable REIT subsidiary (“TRS”), CHP TRS Holding, Inc.; (3) property owner and lender subsidiaries, which are single purpose entities; and (4) investments in joint ventures. The Company is externally managed and advised by CNL Healthcare Corp. (“Advisor”), which is an affiliate of CNL Financial Group, LLC (“Sponsor”). The Advisor is responsible for managing the Company’s day-to-day operations, serving as a consultant in connection with policy decisions to be made by the board of directors, and for identifying, recommending and executing on strategic alternatives and dispositions on the Company’s behalf pursuant to an advisory agreement among the Company, the Operating Partnership and the Advisor. Substantially all of the Company’s acquisition services were, and substantially all of the Company’s operating, administrative and certain property management services are, provided by affiliates of the Advisor. In addition, certain property management services are provided by third-party property managers. On September 30, 2015, the Company completed its public offerings (“Offerings”) and received aggregate subscription proceeds of approximately $1.7 billion. In October 2015, the Company deregistered the unsold shares of its common stock under its previous registration statement on Form S-11, except for 20 million shares that it registered on Form S-3 under the Securities Exchange Act of 1933 with the Securities and Exchange Commission (“SEC”) for the sale of additional shares of common stock through its distribution reinvestment plan (“Reinvestment Plan”). Effective July 11, 2018, the Company suspended both its Reinvestment Plan and its stock redemption plan (“Redemption Plan”). In 2017, the Company began evaluating strategic alternatives to provide liquidity to its stockholders. In April 2018, the Company’s board of directors formed a special committee consisting solely of its independent directors (“Special Committee”) to consider possible strategic alternatives, including, but not limited to (i) the listing of the Company’s or one of its subsidiaries’ common stock on a national securities exchange, (ii) an orderly disposition of the Company’s assets or one or more of the Company’s asset classes and the distribution of the net sale proceeds thereof to the stockholders of the Company, and (iii) a potential business combination or other transaction with a third-party or parties that provides the stockholders of the Company with cash and/or securities of a publicly traded company (collectively, among other options, “Possible Strategic Alternatives”). The Special Committee engaged HFF Securities L.P. and KeyBanc Capital Markets Inc. to act as financial advisors in connection with exploring Possible Strategic Alternatives. As of March 31, 2019, as part of executing on Possible Strategic Alternatives, the Company had committed to a plan to sell a total of 70 properties. In December 2018, the Company entered into an agreement of purchase and sale (“MOB Sale Agreement”) with a subsidiary of Welltower Inc. (NYSE: WELL) for the sale of 55 medical office buildings and related properties (“MOB Sale”) for a gross sales price of $1.25 billion, subject to certain pro-rations and other adjustments as described in the MOB Sale Agreement. As of March 31, 2019, approximately $76 million had been placed by the buyer in escrow, which is non-refundable, except for a seller breach or default under the MOB Sale Agreement, and will be applied to the purchase price at closing. The parties anticipate that the closing of the MOB Sale will occur in the second quarter of 2019, subject to customary closing conditions, governmental and other third-party consents. There can be no assurance that the closing conditions will be satisfied or that the MOB Sale will be consummated. The net sales proceeds are expected to exceed the net carrying value of the 55 properties comprising the MOB Sale. 1. Organization (continued) In March 2019, the Company entered into an agreement of purchase and sale (“IRF Sale Agreement”) for the sale of four post-acute care properties (“IRF Sale”) with subsidiaries of Global Medical REIT Inc. (NYSE: GMRE) for a gross sales price of $94 million, subject to certain pro-rations and other adjustments as described in the IRF Sale Agreement. The Company completed the IRF Sale in April 2019; refer to Note 14. “Subsequent Events” for additional information. As of March 31, 2019, including the 70 properties classified as held for sale, the Company’s healthcare investment portfolio is geographically diversified with properties in 34 states and consisted of interests in 142 properties, including 72 seniors housing properties, 53 medical office buildings (“MOBs”), 12 post-acute care facilities and five acute care hospitals. As noted above, the Company completed the IRF sale in April 2019, which represented four of the aforementioned 70 properties; refer to Note 14. “Subsequent Events” for additional information. 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 the REIT Investment Diversification and Empowerment Act of 2007 (“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). In addition, although most of the Company’s investments have been wholly owned, it has invested through partnerships with other entities where it is believed to be appropriate and beneficial.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation and Consolidation — The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and note disclosures required by generally accepted accounting principles in the U.S. (“GAAP”). The unaudited condensed consolidated financial statements reflect all normal recurring adjustments, which, in the opinion of management, are necessary for the fair statement of the Company’s results for the interim period presented. Operating results for the three months ended March 31, 2019 may not be indicative of the results that may be expected for the year ending December 31, 2019. Amounts as of December 31, 2018 included in the unaudited condensed consolidated financial statements have been derived from audited consolidated financial statements as of that date but do not include all disclosures required by GAAP. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. The accompanying unaudited condensed 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 variable interest entities (“VIEs”) in which the Company is the primary beneficiary, and the accounts of other subsidiaries over which the Company has a controlling financial interest. All material intercompany accounts and transactions have been eliminated in consolidation. In accordance with the guidance for the consolidation of a VIE, the Company is required to identify entities for which control is achieved through means other than voting rights and to determine the primary beneficiary of its VIEs. The Company qualitatively assesses whether it is the primary beneficiary of a VIE and considers various factors including, but not limited to, the design of the entity, its organizational structure including decision-making ability and financial agreements, its ability and the rights of others to participate in policy making decisions, as well as its ability to replace the VIE manager and/or liquidate the entity. Reclassifications – Certain amounts in the prior year’s condensed consolidated statement of operations and statement of cash flows have been reclassified to conform to the current year’s presentation, primarily related to classification of certain properties as discontinued operations, with no effect on the other previously reported consolidated financial statements. 2. Summary of Significant Accounting Policies (continued) Restricted Cash — As of March 31, 2019, approximately $77.5 million had been placed in escrow related to the MOB Sale and IRF Sale; both of which were non-refundable, except for a seller breach or default under the respective sale agreements. As such, the escrow deposits represented restricted use funds pursuant to the terms of the respective sale agreements until such time as the Company consummated either the MOB Sale or the IRF Sale, or the respective buyer terminated the related sale agreement. The Company completed the IRF Sale in April 2019 and applied the related escrow deposit of approximately $1.5 million to the purchase price at closing; refer to Note 14. “Subsequent Events” for additional information. Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated financial statements, the reported amounts of revenues and expenses during the reporting periods and the disclosure of contingent liabilities. For example, significant assumptions are made in the analysis of real estate impairments, the valuation of contingent assets and liabilities, and the valuation of restricted common stock (“Restricted Stock”) shares issued to the Advisor. Accordingly, actual results could differ from those estimates. Adopted Accounting Pronouncements — In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“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 also requires qualitative and quantitative disclosures designed to give financial statement users additional information on the amount, timing, and uncertainty of cash flows arising from leases. In July 2018, the FASB issued ASU 2018-11, “Leases (Topic 842): Targeted Improvements,” which includes a practical expedient for lessors that allows them to elect to not separate lease and non-lease components in a contract for the purpose of revenue recognition and disclosure if certain criteria are met. The Company elected this practical expedient and applied the guidance to all of the leases that qualified under the established criteria. In December 2018, the FASB issued ASU 2018-20, “Leases (Topic 842): Narrow-Scope Improvements for Lessors,” which addressed challenges encountered in determining certain lessor costs paid by the lessee directly to third parties by allowing lessors to exclude these costs from its variable lease payments. This amendment did not have a material impact on the Company’s financial statements and related disclosures as it conformed Accounting Standard Codification (“ASC”) 842 to the Company’s historical accounting under ASC 840. In March 2019, the FASB issued ASU 2019-01, “Leases (Topic 842): Codification Improvements,” which clarified the transition guidance related to interim disclosure requirements for the year of adoption. All of the ASC 842 ASUs are effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2018. The Company adopted these ASU’s on January 1, 2019 using a modified retrospective approach, which impacted the Company’s consolidated financial statements and related financial statement disclosures; specifically, the Company’s consolidated financial position as it relates to the required presentation for arrangements such as ground or other leases in which the Company is the lessee. However, the adoption of these ASUs did not have a material impact on the Company’s consolidated results of operations or cash flows. 2. Summary of Significant Accounting Policies (continued) More specifically, the adoption of ASC 842 resulted in the Company recording operating lease assets and liabilities on January 1, 2019 with the difference between the operating lease assets and liabilities being record as an adjustment to the Company’s beginning accumulated loss balance. The following table provides additional details by financial statement line item of the adjusted presentation in the Company’s consolidated financial position (in thousands): As Filed Effect of As Adjusted December 31, ASC 842 January 1, 2018 Adoption (1) 2019 Assets held for sale, net $ 1,147,645 $ 403 $ 1,148,048 Total assets $ 2,705,887 $ 403 $ 2,706,290 Liabilities associated with assets held for sale $ (774,019 ) $ 2,779 $ (771,240 ) Total liabilities $ (1,763,961 ) $ 2,779 $ (1,761,182 ) Accumulated loss $ (233,847 ) $ 3,182 $ (230,665 ) Total equity $ (941,926 ) $ 3,182 $ (938,744 ) FOOTNOTE: (1) The effect of adopting these ASUs on January 1, 2019 is presented by financial statement line item with certain lease-related components being grouped within a single financial statement line item given the classification of such components as held for sale. More specifically, as further detailed in Note 5. “Assets and Associated Liabilities Held For Sale and Discontinued Operations,” the Company reclassified approximately $11.1 million of below-market ground lease intangibles to operating lease assets as well as approximately $6.1 million of ground lease-related other liabilities to operating lease liabilities as a result of adopting these ASUs on January 1, 2019. In June 2018, the FASB issued ASU 2018-07, “Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting,” which expands the scope to include share-based payment transactions for acquiring goods and services from nonemployees. The amendments specify that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payments. The amendments also clarify that this ASU does not apply to share-based payments used to provide financing to the issuer or awards granted in conjunction with selling of goods or services to customers as a part of a contract accounted for under Revenue from Contracts with Customers (Topic 606). The ASU is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2018. The Company adopted this ASU prospectively on January 1, 2019; the adoption of which did not have a material impact on the Company’s consolidated results of operations or cash flows. Recent Accounting Pronouncements — In June 2016, the FASB issued ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments (Topic 326),” which requires a new forward-looking expected loss model to be used for receivables, held-to-maturity debt, loans and other financial instruments. Previously, when credit losses were measured under current GAAP, an entity generally only considered past events and current conditions in measuring the incurred loss. The amendments eliminate the probable initial threshold for recognition of credit losses in current GAAP and, instead, reflect an entity’s current estimate of all expected credit losses over the life of the financial instrument. The ASU is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2019. The Company has determined it will adopt this ASU on January 1, 2020 and is currently evaluating the impact of adoption on its consolidated financial statements.

Revenue

Revenue	3 Months Ended
Revenue	Mar. 31, 2019
Revenue From Contract With Customer [Abstract]
Revenue	3. Revenue The following table presents disaggregated revenue related to the Company’s resident fees and services during the three months ended March 31, 2019 and 2018: Number of Units Revenues (in millions) Percentage of Revenues Resident fees and services: 2019 2018 2019 2018 2019 2018 Independent living 2,261 2,261 $ 18.5 $ 17.5 25.9 % 25.9 % Assisted living 2,966 2,966 35.0 33.7 49.1 % 49.9 % Memory care 853 853 14.4 13.0 20.2 % 19.3 % Other revenues ― ― 3.4 3.3 4.8 % 4.9 % 6,080 6,080 $ 71.3 $ 67.5 100.0 % 100.0 %

Real Estate Assets, net

Real Estate Assets, net	3 Months Ended
Real Estate Assets, net	Mar. 31, 2019
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 March 31, 2019 and December 31, 2018 are as follows, excluding assets held for sale (in thousands): March 31, December 31, 2019 2018 Land and land improvements $ 130,198 $ 130,133 Building and building improvements 1,475,904 1,475,789 Furniture, fixtures and equipment 81,754 81,666 Less: accumulated depreciation (244,675 ) (232,439 ) Real estate investment properties, net $ 1,443,181 $ 1,455,149 Depreciation expense on the Company’s real estate investment properties, net was approximately $12.2 million and $13.2 million for the three months ended March 31, 2019 and 2018, respectively.

Assets and Associated Liabiliti

Assets and Associated Liabilities Held For Sale and Discontinued Operations	3 Months Ended
	Mar. 31, 2019
Real Estate Liabilities Associated With Assets Held For Development And Sale [Abstract]
Assets and Associated Liabilities Held For Sale and Discontinued Operations	5. Assets and Associated Liabilities Held For Sale and Discontinued Operations As of March 31, 2019, as part of executing on Possible Strategic Alternatives, the Company had committed to a plan to sell a total of 70 properties, including: (1) six skilled nursing facilities located in Arkansas (“Perennial Communities”); (2) a portfolio of 53 MOBs, five post-acute care facilities and five acute care hospitals located across the U.S. (collectively, the “MOB/Healthcare Portfolio”); and (3) a post-acute care property located in Colorado (“ Welbrook Senior Living Grand Junction”). As such, the Company has classified the 70 properties as held for sale. In December 2018, the Company entered into the MOB Sale Agreement related to the 55 property MOB Sale for a gross price of $1.25 billion, subject to certain pro-rations and other adjustments as described in the MOB Sale Agreement. As of March 31, 2019, approximately $76 million had been placed by the buyer in escrow, which is non-refundable, except for a seller breach or default under the MOB Sale Agreement, and will be applied to the purchase price at closing. The parties anticipate that the closing of the MOB Sale will occur in the second quarter of 2019, subject to customary closing conditions, governmental and other third-party consents. There can be no assurance that the closing conditions will be satisfied or that the MOB Sale will be consummated. The net sales proceeds are expected to exceed the net carrying value of the 55 properties comprising the MOB Sale. In March 2019, the Company entered into the IRF Sale Agreement related to the IRF Sale, consisting of four properties within the MOB/Healthcare Portfolio, for a gross sales price of $94 million, subject to certain pro-rations and other adjustments as described in the IRF Sale Agreement. The Company completed the IRF Sale in April 2019; refer to Note 14. “Subsequent Events” for additional information. As of March 31, 2019, the 70 properties classified as assets held for sale and the liabilities associated with those assets held for sale consisted of the following (in thousands): As of March 31, 2019 MOB/Healthcare Portfolio Other Total Real estate investment properties, net $ 952,987 $ 51,339 $ 1,004,326 Real estate under development 3,539 — 3,539 Intangibles, net 71,295 800 72,095 Deferred rent and lease incentives 38,415 6,568 44,983 Other assets 11,954 490 12,444 Operating lease assets, net 11,525 — 11,525 Restricted cash 2,166 145 2,311 Assets held for sale, net $ 1,091,881 $ 59,342 $ 1,151,223 Mortgages and other notes payable, net $ 491,254 $ 8,117 $ 499,371 Credit facilities 233,002 32,595 265,597 Other liabilities 10,890 634 11,524 Accounts payable and accrued liabilities 11,058 6 11,064 Operating lease liabilities 3,357 — 3,357 Liabilities associated with assets held for sale $ 749,561 $ 41,352 $ 790,913 5. Assets and Associated Liabilities Held For Sale and Discontinued Operations (continued) As of December 31, 2018, the 70 properties classified as assets held for sale and the liabilities associated with those assets held for sale consisted of the following (in thousands): As of December 31, 2018 MOB/Healthcare Portfolio Other Total Real estate held for sale, net $ 952,656 $ 51,339 $ 1,003,995 Real estate under development 3,490 — 3,490 Intangibles, net 82,417 800 83,217 Deferred rent and lease incentives 36,562 6,501 43,063 Other assets 11,425 182 11,607 Restricted cash 2,013 260 2,273 Assets held for sale, net $ 1,088,563 $ 59,082 $ 1,147,645 Mortgages and other notes payable, net $ 492,701 $ 8,097 $ 500,798 Credit facilities 212,731 34,778 247,509 Other liabilities 16,653 634 17,287 Accounts payable and accrued liabilities 8,425 — 8,425 Liabilities associated with assets held for sale $ 730,510 $ 43,509 $ 774,019 The Company classified the revenues and expenses related to the Company’s MOB/Healthcare Portfolio, which consists of 63 properties, as discontinued operations in the accompanying condensed consolidated statements of operations, as it believes the sale of these properties represents a strategic shift in the Company’s operations. The following table is a summary of the Company’s loss from discontinued operations for the three months ended March 31, 2019 and 2018 (in thousands): Three Months Ended March 31, 2019 2018 Revenues: Rental income and related revenues $ 29,596 $ 28,266 Operating expenses: Property operating expenses 6,862 7,611 General and administrative expenses 293 308 Asset management fees 2,996 3,031 Property management fees 758 1,077 Depreciation and amortization — 10,681 Total operating expenses 10,909 22,708 Operating income 18,687 5,558 Other income (expense): Interest and other income 9 104 Interest expense and loan cost amortization (8,202 ) (7,822 ) Total other expense (8,193 ) (7,718 ) Income (loss) before income taxes 10,494 (2,160 ) Income tax expense (20 ) (18 ) Income (loss) from discontinued operations $ 10,474 $ (2,178 )

Operating Leases

Operating Leases	3 Months Ended
Operating Leases	Mar. 31, 2019
Leases [Abstract]
Operating Leases	6. Operating Leases As of March 31, 2019, excluding the 70 properties classified as held for sale, the Company owned 15 seniors housing properties that have been leased to tenants under triple-net operating leases. Under the terms of the Company’s triple-net lease agreements, each tenant is responsible for the payment of property taxes, general liability insurance, utilities, repairs and maintenance, including structural and roof maintenance expenses. Each tenant is expected to pay real estate taxes directly to the taxing authorities and, therefore, such amounts are not included in the Company’s condensed consolidated financial statements. However, if the tenant does not pay the real estate taxes, the Company would be liable for such amounts. As of March 31, 2019, the total annualized property tax assessed on these properties is approximately $3.2 million. As of March 31, 2019, the Company’s triple-net operating leases had a weighted average remaining lease term of 5.7 years based on annualized base rents expiring between 2022 and 2027, subject to the tenants’ options to extend the lease terms by an additional five years. In addition, certain tenants hold options to extend the lease terms for multiple five year periods, which are generally subject to similar terms and conditions provided under the initial lease term, including rent increases. The Company’s lease term is determined based on the non-cancellable lease term unless economic incentives make it reasonably certain that an extension option will be exercised, in which case the Company includes the extended lease term. The following are future minimum lease payments to be received under non-cancellable operating leases for the remainder of 2019, each of the next four years and thereafter, in the aggregate, as of March 31, 2019 (in thousands): 2019 $ 20,159 2020 28,526 2021 29,128 2022 21,541 2023 20,912 Thereafter 50,948 $ 171,214 The above future minimum lease payments to be received excludes straight-line rent adjustments and base rent attributable to any renewal options exercised by the tenants in the future.

Variable Interest Entities

Variable Interest Entities	3 Months Ended
Variable Interest Entities	Mar. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Variable Interest Entities	7. Variable Interest Entities 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 March 31, 2019 and December 31, 2018 are as follows (in thousands): March 31, 2019 December 31, 2018 Assets: Real estate investment properties, net $ 144,946 $ 146,341 Assets held for sale, net (1) $ 40,124 $ 39,601 Restricted cash $ 489 $ 208 Cash $ 947 $ 342 Deferred rent and lease incentives $ 7,639 $ 7,160 Other assets $ 530 $ 678 Liabilities: Mortgages and other notes payable, net $ 102,526 $ 102,578 Liabilities associated with assets for sale (1) $ 30,764 $ 30,695 Other liabilities $ 948 $ 1,321 Accounts payable and accrued liabilities $ 841 $ 784 FOOTNOTE: (1) Refer to Note 5. “Assets and Associated Liabilities Held For Sale and Discontinued Operations” for additional information. 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 $57.8 million as of March 31, 2019. The Company’s exposure is limited because of the non-recourse nature of the borrowings of the VIEs. As of March 31, 2019 and December 31, 2018, the Company had eight subsidiaries which are classified as VIEs due to the following factors and circumstances: • Two 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 that include buy-out and put options held by either the tenant or landlord under the applicable lease. • Three of these subsidiaries are entities with completed real estate under development in which there is insufficient equity at risk due to the development nature of each entity. • Two of these subsidiaries are joint ventures with completed real estate under development in which there is insufficient equity at risk due to the development nature of each joint venture. • One of these subsidiaries is a joint venture with equity interests that consist of non-substantive protective voting rights, but not any participating or kick-out 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 condensed consolidated financial statements.

Indebtedness

Indebtedness	3 Months Ended
Indebtedness	Mar. 31, 2019
Debt Disclosure [Abstract]
Indebtedness	8. Indebtedness The following table provides details of the Company’s indebtedness as of March 31, 2019 and December 31, 2018 (in thousands): March 31, December 31, 2019 2018 Mortgages payable and other notes payable: Fixed rate debt $ 356,151 $ 358,843 Variable rate debt (1) (2) 173,733 174,046 Mortgages and other notes payable (3) 529,884 532,889 Premium (discount), net (4) 173 184 Loan costs, net (2,050 ) (2,429 ) Total mortgages and other notes payable, net 528,007 530,644 Credit facilities: Revolving Credit Facility (1) (2) (5) — — First Term Loan Facility (1) 138,471 151,616 Second Term Loan Facility (1) (2) 275,000 275,000 Loan costs, net related to Term Loan Facilities (985 ) (1,003 ) Total credit facilities, net 412,486 425,613 Total indebtedness, net $ 940,493 $ 956,257 FOOTNOTES: (1) As of December 31, 2018, the Company had entered into interest rate swaps with notional amounts of approximately $151.6 million, which were settling on a monthly basis. As of March 31, 2019, there were no such interest rate swaps. Refer to Note 10. “Derivative Financial Instruments” for additional information. (2) As of March 31, 2019 and December 31, 2018, the Company had entered into interest rate caps with notional amounts of approximately $479.0 million and $330.0 million, respectively. Refer to Note 10. “Derivative Financial Instruments” for additional information. (3) As of March 31, 2019 and December 31, 2018, the Company’s mortgages and other notes payable are collateralized by 37 and 37 properties, respectively, with total carrying value of approximately $0.8 billion and $0.8 billion, respectively. (4) Premium (discount), net is reflective of the Company recording mortgage note payables assumed at fair value on the respective acquisition dates. (5) As of March 31, 2019 and December 31, 2018, the Company had undrawn availability under the senior unsecured revolving line of credit (“Revolving Credit Facility”) of approximately $20.7 million and $14.7 million, respectively, based on the value of the properties in the unencumbered pool of assets supporting the loan, which includes certain assets held for sale. As of March 31, 2019, including indebtedness related to assets held for sale, the Company has approximately $406.3 million of indebtedness maturing in 2019 as well as approximately $248.4 million of indebtedness maturing through May 2020. The Company completed the IRF Sale in April 2019, which resulted in the pay down of approximately $76.5 million of the aforementioned indebtedness maturing in 2019; refer to Note 14. “Subsequent Events” for additional information. In order to satisfy the remaining $578.2 million of indebtedness and through May 2020, the Company determined it needs to access the debt markets to obtain capital. As such, the Company is actively negotiating with its lenders on a long-term refinancing of the Credit Facilities, which represents approximately $404.1 million of the aforementioned maturing indebtedness. In addition, the Company anticipates that its execution of the Possible Strategic Alternatives, as described in Note 1 “Organization,” including the MOB Sale, will further generate available liquidity. In the event these sources of capital do not provide sufficient liquidity, the Company will need to identify alternative sources of capital. 8. Indebtedness (continued) The following table provides the details of the fair market value and carrying value of the Company’s indebtedness as of March 31, 2019 and December 31, 2018 (in millions): March 31, December 31, 2019 2018 Fair Value Carrying Value Fair Value Carrying Value Mortgages and other notes payable, net $ 528.5 $ 528.0 $ 528.7 $ 530.6 Credit facilities $ 413.5 $ 412.5 $ 426.6 $ 425.6 Indebtedness associated with assets held for sale $ 767.8 $ 765.0 $ 751.8 $ 748.3 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 March 31, 2019 and December 31, 2018 because of the relatively short maturities of the obligations. In February 2019, the Company exercised its final 12-month extension option on the First Term Loan Facility, which represented approximately $175 million of the debt maturing in 2019 and extended the term through February 2020. 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. 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. As of March 31, 2019, the Company was not in compliance with the debt service coverage ratio on its Fieldstone at Pear Orchard loan. However, the Company was able to subsequently cure this covenant through the pay down of approximately $2.1 million of the outstanding debt. As of March 31, 2019, the Company was in compliance with all other financial covenants.

Related Party Arrangements

Related Party Arrangements	3 Months Ended
Related Party Arrangements	Mar. 31, 2019
Related Party Transactions [Abstract]
Related Party Arrangements	9. Related Party Arrangements In April 2018, the Company and CNL Healthcare Manager Corp. (“Property Manager”) agreed not to renew the property management agreement beyond its expiration date in June 2018. In addition, in May 2019, the Company extended its advisory agreement with the Advisor through June 2020; refer to Note 14. “Subsequent Events” for additional information. During the three months ended March 31, 2019 and 2018, the Company paid approximately $0.2 million and $0.2 million, respectively, of cash distributions on restricted stock issued pursuant to the Advisor expense support agreement. These amounts have been recognized as compensation expense and included in general and administrative expenses in the accompanying condensed consolidated statements of operations. The expenses and fees incurred by and reimbursable to the Company’s related parties, including amounts included in income (loss) from discontinued operations, for the three months ended March 31, 2019 and 2018, and related amounts unpaid as of March 31, 2019 and December 31, 2018 are as follows (in thousands): Three Months Ended Unpaid amounts as of (1) March 31, March 31, December 31, 2019 2018 2019 2018 Reimbursable expenses: Operating expenses (2) $ 1,268 $ 1,624 $ 995 $ 722 1,268 1,624 995 722 Financing coordination fees (3) 201 ― ― ― Property management fees (4) ― 1,168 ― ― Asset management fees (5) 7,597 7,597 2,531 2,533 $ 9,066 $ 10,389 $ 3,526 $ 3,255 FOOTNOTES: (1) Amounts are recorded as due to related parties in the accompanying condensed consolidated balance sheets. (2) Amounts are recorded as general and administrative expenses in the accompanying condensed consolidated statements of operations unless such amounts represent prepaid expenses, which are capitalized in the accompanying condensed consolidated balance sheets. (3) For the three months ended March 31, 2019, 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 three months ended March 31, 2018. (4) No property management fees were payable to the Property Manager for the three months ended March 31, 2019 as the property management agreement was not renewed beyond its expiration date in June 2018. (5) No expense support was estimated or received for the three months ended March 31, 2019 and 2018.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
Derivative Financial Instruments	Mar. 31, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	10. Derivative Financial Instruments The following summarizes the terms of the Company’s, or its equity method investment’s, derivative financial instruments and the corresponding asset (liability) as of March 31, 2019 and December 31, 2018, including properties classified as held for sale (in thousands): Fair value as of Notional Amount Strike (1) Credit Spread (1) Trade date Forward date Maturity date March 31, 2019 December 31, 2018 $ 78,773 (2) 2.3 % 2.4 % 9/12/2014 8/1/2015 7/15/2019 $ 71 $ 168 $ — (2)(3) 1.6 % 2.0 % 12/23/2014 12/19/2014 2/19/2019 $ — $ 220 $ 123,913 (2) 1.7 % 2.0 % 1/9/2015 12/10/2015 12/22/2019 $ 621 $ 966 $ 117,000 (4) 2.3 % — % 8/29/2017 8/29/2017 9/1/2019 $ 116 $ 247 $ 410,000 (4) 3.0 % — % 3/28/2018 11/30/2018 12/19/2019 $ 2 $ 44 $ 51,575 (4) 3.0 % — % 3/28/2018 7/10/2018 12/19/2019 $ 1 $ 6 $ 175,000 (3)(4) 3.0 % — % 3/28/2018 2/19/2019 12/19/2019 $ — $ 19 $ 57,630 (4) 3.0 % — % 5/4/2018 5/4/2018 12/19/2019 $ — $ 6 $ 10,500 (4) 3.3 % — % 2/28/2019 3/1/2019 9/1/2021 $ 3 $ — (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 which are recorded at fair value and included in either other assets or other liabilities in the accompanying condensed consolidated balance sheets. (3) The swap related to the First Term Loan matured on February 19, 2019 and was replaced with a cap that was effective on February 19, 2019 and matures December 19, 2019. (4) Amounts related to the interest rate caps held by the Company, or its equity method investment, which are recorded at fair value and included in other assets in the accompanying condensed 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	3 Months Ended
Equity	Mar. 31, 2019
Equity [Abstract]
Equity	11. Equity Stockholders’ Equity: Distribution Reinvestment Plan — In July 2018, in light of the Company’s decision to proceed with the exploration of Possible Strategic Alternatives, the Company suspended the Reinvestment Plan and the Redemption Plan. As such, there were no such proceeds received for the three months ended March 31, 2019. For the three months ended March 31, 2018, the Company received proceeds through its Reinvestment Plan of approximately $11.1 million (1.1 million shares). Distributions — During the three months ended March 31, 2019 and 2018, the Company declared cash distributions of approximately $20.2 million and $20.3 million, respectively, of which approximately $20.2 million and $9.2 million, respectively, were paid in cash to stockholders. None of the cash distributions were reinvested during three months ended March 31, 2019 due to the suspension of the Reinvestment Plan, as noted above. For the three months ended March 31, 2018, approximately $11.1 million was reinvested pursuant to the Reinvestment Plan. Redemptions — In July 2018, in light of the Company’s decision to proceed with the exploration of Possible Strategic Alternatives, the Company suspended the Reinvestment Plan and the Redemption Plan. As such, there were no requests for the redemption of common stock during the three months ended March 31, 2019. During the three months ended March 31, 2018, the Company received requests for the redemption of common stock of approximately $17.4 million, all of which were approved for redemption at an average price of $10.13 per share. Other comprehensive income (loss) — The following table reflects the effect of derivative financial instruments held by the Company, or its equity method investment, and included in the condensed consolidated statements of comprehensive income (loss) for the three months ended March 31, 2019 and 2018 (in thousands): Derivative financial instruments Gain (loss) recognized in other comprehensive income (loss) on derivative financial instruments Location of gain (loss) reclassified into earnings Gain (loss) reclassified from accumulated other comprehensive income (loss) into earnings Three Months Ended March 31, Three Months Ended March 31, 2019 2018 2019 2018 Interest rate swaps $ (662 ) $ 1,967 Interest expense and loan cost amortization $ 689 $ (228 ) Interest rate caps (230 ) 1,060 Interest expense and loan cost amortization (52 ) (418 ) Reclassification of interest rate swaps upon derecognition — 126 Interest expense and loan cost amortization — (126 ) Total $ (892 ) $ 3,153 $ 637 $ (772 )

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	12 . Income Taxes The accompanying condensed consolidated financial statements include an interim tax provision for the three months ended March 31, 2019 and 2018. The Company recorded a total provision for income taxes of approximately $0.7 million and $0.6 million for the three months ended March 31, 2019 and 2018, respectively. Of the approximate $0.7 million in income tax expense for three months ended March 31, 2019, approximately $0.2 million represents current income tax expense, and approximately $0.5 million represents a decrease to the Company’s net deferred tax assets which is primarily due to the utilization of a portion of the Company’s TRS’s federal and state net operating loss carryforwards. Of the approximate $0.6 million in income tax expense for three months ended March 31, 2018, approximately $0.1 million represents current income tax expense, and approximately $0.5 million represents a decrease to the Company’s net deferred tax assets which is primarily due to the utilization of a portion of the Company’s TRS’s federal and state net operating loss carryforwards.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	13. Commitments and Contingencies From time to time, the Company may be a party to legal proceedings in the ordinary course of, or incidental to the normal course of, its business, including proceedings to enforce its contractual or statutory rights. While the Company cannot predict the outcome of these legal proceedings with certainty, based upon currently available information, the Company does not believe the final outcome of any pending or threatened legal proceeding will have a material adverse effect on its results of operations or financial condition. As a result of the Company’s completed seniors housing developments continuing to move towards or achieving stabilization, the Company monitors the lease-up of these properties to determine whether the established performance metrics have been met as of each reporting period. The Company has six remaining promoted interest agreements with third-party developers pursuant to which certain operating targets have been established that, 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. As of March 31, 2019, one property had met its established performance metrics but no promoted interest obligation was currently owed pursuant to the distribution calculation; whereas for the remaining five promoted interest agreements, the established performance metrics were not met nor probable of being met as of March 31, 2019. The Company’s Advisor has approximately 1.3 million contingently issuable Restricted Stock shares for financial reporting purposes that were issued pursuant to the Advisor expense support agreement. Refer to Note 9. “Related Party Arrangements” for information on distributions declared related to these Restricted Stock shares. 13. Commitments and Contingencies(continued) Under the terms of its ground lease agreements, the Company is responsible for the monthly or quarterly rental payments. These rental payments are recorded as property operating expenses within discontinued operations in the accompanying condensed consolidated statements of operations as all of the Company’s ground leases relate to the MOB/Healthcare Portfolio; refer to Note 5. “Assets and Associated Liabilities Held For Sale and Discontinued Operations” for additional information. The following is a schedule of future minimum lease payments to be paid under the ground leases for the remainder of 2019, each of the next four years and thereafter, in the aggregate, as of March 31, 2019 (in thousands): 2019 $ 1,518 2020 2,047 2021 2,078 2022 2,108 2023 2,144 Thereafter 106,780 Undiscounted future minimum lease payments 116,675 Less: imputed interest (113,318 ) Present value of operating lease liabilities $ 3,357 The following is a schedule of future minimum lease payments to be paid under the ground leases for each of the next five years and thereafter, in the aggregate, as of December 31, 2018 (in thousands): 2019 $ 2,024 2020 2,047 2021 2,078 2022 2,108 2023 2,144 Thereafter 106,780 $ 117,181

Subsequent Events

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	14. Subsequent Events In April 2019, the Company completed the IRF Sale and received net sales proceeds of approximately $93.2 million, which were used to pay off the Cobalt Rehabilitation Hospital Surprise loan of approximately $14.7 million as well as the Medical Portfolio II Properties loan of approximately $76.3 million, which was scheduled to mature in July 2019. The net sales proceeds exceeded the net carrying value of the four properties comprising the IRF Sale. In May 2019, the Company’s board of directors approved the renewal of its advisory agreement with the Advisor through June 2020.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation — The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and note disclosures required by generally accepted accounting principles in the U.S. (“GAAP”). The unaudited condensed consolidated financial statements reflect all normal recurring adjustments, which, in the opinion of management, are necessary for the fair statement of the Company’s results for the interim period presented. Operating results for the three months ended March 31, 2019 may not be indicative of the results that may be expected for the year ending December 31, 2019. Amounts as of December 31, 2018 included in the unaudited condensed consolidated financial statements have been derived from audited consolidated financial statements as of that date but do not include all disclosures required by GAAP. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. The accompanying unaudited condensed 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 variable interest entities (“VIEs”) in which the Company is the primary beneficiary, and the accounts of other subsidiaries over which the Company has a controlling financial interest. All material intercompany accounts and transactions have been eliminated in consolidation. In accordance with the guidance for the consolidation of a VIE, the Company is required to identify entities for which control is achieved through means other than voting rights and to determine the primary beneficiary of its VIEs. The Company qualitatively assesses whether it is the primary beneficiary of a VIE and considers various factors including, but not limited to, the design of the entity, its organizational structure including decision-making ability and financial agreements, its ability and the rights of others to participate in policy making decisions, as well as its ability to replace the VIE manager and/or liquidate the entity.
Reclassifications	Reclassifications – Certain amounts in the prior year’s condensed consolidated statement of operations and statement of cash flows have been reclassified to conform to the current year’s presentation, primarily related to classification of certain properties as discontinued operations, with no effect on the other previously reported consolidated financial statements.
Restricted Cash	Restricted Cash — As of March 31, 2019, approximately $77.5 million had been placed in escrow related to the MOB Sale and IRF Sale; both of which were non-refundable, except for a seller breach or default under the respective sale agreements. As such, the escrow deposits represented restricted use funds pursuant to the terms of the respective sale agreements until such time as the Company consummated either the MOB Sale or the IRF Sale, or the respective buyer terminated the related sale agreement. The Company completed the IRF Sale in April 2019 and applied the related escrow deposit of approximately $1.5 million to the purchase price at closing; refer to Note 14. “Subsequent Events” for additional information.
Use of Estimates	Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated financial statements, the reported amounts of revenues and expenses during the reporting periods and the disclosure of contingent liabilities. For example, significant assumptions are made in the analysis of real estate impairments, the valuation of contingent assets and liabilities, and the valuation of restricted common stock (“Restricted Stock”) shares issued to the Advisor. Accordingly, actual results could differ from those estimates.
Adopted Accounting Pronouncements	Adopted Accounting Pronouncements — In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“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 also requires qualitative and quantitative disclosures designed to give financial statement users additional information on the amount, timing, and uncertainty of cash flows arising from leases. In July 2018, the FASB issued ASU 2018-11, “Leases (Topic 842): Targeted Improvements,” which includes a practical expedient for lessors that allows them to elect to not separate lease and non-lease components in a contract for the purpose of revenue recognition and disclosure if certain criteria are met. The Company elected this practical expedient and applied the guidance to all of the leases that qualified under the established criteria. In December 2018, the FASB issued ASU 2018-20, “Leases (Topic 842): Narrow-Scope Improvements for Lessors,” which addressed challenges encountered in determining certain lessor costs paid by the lessee directly to third parties by allowing lessors to exclude these costs from its variable lease payments. This amendment did not have a material impact on the Company’s financial statements and related disclosures as it conformed Accounting Standard Codification (“ASC”) 842 to the Company’s historical accounting under ASC 840. In March 2019, the FASB issued ASU 2019-01, “Leases (Topic 842): Codification Improvements,” which clarified the transition guidance related to interim disclosure requirements for the year of adoption. All of the ASC 842 ASUs are effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2018. The Company adopted these ASU’s on January 1, 2019 using a modified retrospective approach, which impacted the Company’s consolidated financial statements and related financial statement disclosures; specifically, the Company’s consolidated financial position as it relates to the required presentation for arrangements such as ground or other leases in which the Company is the lessee. However, the adoption of these ASUs did not have a material impact on the Company’s consolidated results of operations or cash flows. 2. Summary of Significant Accounting Policies (continued) More specifically, the adoption of ASC 842 resulted in the Company recording operating lease assets and liabilities on January 1, 2019 with the difference between the operating lease assets and liabilities being record as an adjustment to the Company’s beginning accumulated loss balance. The following table provides additional details by financial statement line item of the adjusted presentation in the Company’s consolidated financial position (in thousands): As Filed Effect of As Adjusted December 31, ASC 842 January 1, 2018 Adoption (1) 2019 Assets held for sale, net $ 1,147,645 $ 403 $ 1,148,048 Total assets $ 2,705,887 $ 403 $ 2,706,290 Liabilities associated with assets held for sale $ (774,019 ) $ 2,779 $ (771,240 ) Total liabilities $ (1,763,961 ) $ 2,779 $ (1,761,182 ) Accumulated loss $ (233,847 ) $ 3,182 $ (230,665 ) Total equity $ (941,926 ) $ 3,182 $ (938,744 ) FOOTNOTE: (1) The effect of adopting these ASUs on January 1, 2019 is presented by financial statement line item with certain lease-related components being grouped within a single financial statement line item given the classification of such components as held for sale. More specifically, as further detailed in Note 5. “Assets and Associated Liabilities Held For Sale and Discontinued Operations,” the Company reclassified approximately $11.1 million of below-market ground lease intangibles to operating lease assets as well as approximately $6.1 million of ground lease-related other liabilities to operating lease liabilities as a result of adopting these ASUs on January 1, 2019. In June 2018, the FASB issued ASU 2018-07, “Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting,” which expands the scope to include share-based payment transactions for acquiring goods and services from nonemployees. The amendments specify that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payments. The amendments also clarify that this ASU does not apply to share-based payments used to provide financing to the issuer or awards granted in conjunction with selling of goods or services to customers as a part of a contract accounted for under Revenue from Contracts with Customers (Topic 606). The ASU is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2018. The Company adopted this ASU prospectively on January 1, 2019; the adoption of which did not have a material impact on the Company’s consolidated results of operations or cash flows.
Recent Accounting Pronouncements	Recent Accounting Pronouncements — In June 2016, the FASB issued ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments (Topic 326),” which requires a new forward-looking expected loss model to be used for receivables, held-to-maturity debt, loans and other financial instruments. Previously, when credit losses were measured under current GAAP, an entity generally only considered past events and current conditions in measuring the incurred loss. The amendments eliminate the probable initial threshold for recognition of credit losses in current GAAP and, instead, reflect an entity’s current estimate of all expected credit losses over the life of the financial instrument. The ASU is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2019. The Company has determined it will adopt this ASU on January 1, 2020 and is currently evaluating the impact of adoption on its consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
Summary of Significant Accounting Policies (Tables)	Mar. 31, 2019
Adoption of ASC 842
Schedule of Adjusted Consolidated Balance Sheet	The following table provides additional details by financial statement line item of the adjusted presentation in the Company’s consolidated financial position (in thousands): As Filed Effect of As Adjusted December 31, ASC 842 January 1, 2018 Adoption (1) 2019 Assets held for sale, net $ 1,147,645 $ 403 $ 1,148,048 Total assets $ 2,705,887 $ 403 $ 2,706,290 Liabilities associated with assets held for sale $ (774,019 ) $ 2,779 $ (771,240 ) Total liabilities $ (1,763,961 ) $ 2,779 $ (1,761,182 ) Accumulated loss $ (233,847 ) $ 3,182 $ (230,665 ) Total equity $ (941,926 ) $ 3,182 $ (938,744 ) FOOTNOTE: (1) The effect of adopting these ASUs on January 1, 2019 is presented by financial statement line item with certain lease-related components being grouped within a single financial statement line item given the classification of such components as held for sale. More specifically, as further detailed in Note 5. “Assets and Associated Liabilities Held For Sale and Discontinued Operations,” the Company reclassified approximately $11.1 million of below-market ground lease intangibles to operating lease assets as well as approximately $6.1 million of ground lease-related other liabilities to operating lease liabilities as a result of adopting these ASUs on January 1, 2019.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
Revenue (Tables)	Mar. 31, 2019
Revenue From Contract With Customer [Abstract]
Summary of Disaggregation of Revenue	The following table presents disaggregated revenue related to the Company’s resident fees and services during the three months ended March 31, 2019 and 2018: Number of Units Revenues (in millions) Percentage of Revenues Resident fees and services: 2019 2018 2019 2018 2019 2018 Independent living 2,261 2,261 $ 18.5 $ 17.5 25.9 % 25.9 % Assisted living 2,966 2,966 35.0 33.7 49.1 % 49.9 % Memory care 853 853 14.4 13.0 20.2 % 19.3 % Other revenues ― ― 3.4 3.3 4.8 % 4.9 % 6,080 6,080 $ 71.3 $ 67.5 100.0 % 100.0 %

Real Estate Assets, net (Tables

Real Estate Assets, net (Tables)	3 Months Ended
Real Estate Assets, net (Tables)	Mar. 31, 2019
Real Estate [Abstract]
Schedule of Real Estate Investment Properties Excluding Assets Held For Sale	The gross carrying amount and accumulated depreciation of the Company’s real estate assets as of March 31, 2019 and December 31, 2018 are as follows, excluding assets held for sale (in thousands): March 31, December 31, 2019 2018 Land and land improvements $ 130,198 $ 130,133 Building and building improvements 1,475,904 1,475,789 Furniture, fixtures and equipment 81,754 81,666 Less: accumulated depreciation (244,675 ) (232,439 ) Real estate investment properties, net $ 1,443,181 $ 1,455,149

Assets and Associated Liabili_2

Assets and Associated Liabilities Held For Sale and Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2019
Real Estate Liabilities Associated With Assets Held For Development And Sale [Abstract]
Schedule of Assets Classified as Held for Sale and Liabilities Associated with Those Assets Held for Sale	As of March 31, 2019, the 70 properties classified as assets held for sale and the liabilities associated with those assets held for sale consisted of the following (in thousands): As of March 31, 2019 MOB/Healthcare Portfolio Other Total Real estate investment properties, net $ 952,987 $ 51,339 $ 1,004,326 Real estate under development 3,539 — 3,539 Intangibles, net 71,295 800 72,095 Deferred rent and lease incentives 38,415 6,568 44,983 Other assets 11,954 490 12,444 Operating lease assets, net 11,525 — 11,525 Restricted cash 2,166 145 2,311 Assets held for sale, net $ 1,091,881 $ 59,342 $ 1,151,223 Mortgages and other notes payable, net $ 491,254 $ 8,117 $ 499,371 Credit facilities 233,002 32,595 265,597 Other liabilities 10,890 634 11,524 Accounts payable and accrued liabilities 11,058 6 11,064 Operating lease liabilities 3,357 — 3,357 Liabilities associated with assets held for sale $ 749,561 $ 41,352 $ 790,913 5. Assets and Associated Liabilities Held For Sale and Discontinued Operations (continued) As of December 31, 2018, the 70 properties classified as assets held for sale and the liabilities associated with those assets held for sale consisted of the following (in thousands): As of December 31, 2018 MOB/Healthcare Portfolio Other Total Real estate held for sale, net $ 952,656 $ 51,339 $ 1,003,995 Real estate under development 3,490 — 3,490 Intangibles, net 82,417 800 83,217 Deferred rent and lease incentives 36,562 6,501 43,063 Other assets 11,425 182 11,607 Restricted cash 2,013 260 2,273 Assets held for sale, net $ 1,088,563 $ 59,082 $ 1,147,645 Mortgages and other notes payable, net $ 492,701 $ 8,097 $ 500,798 Credit facilities 212,731 34,778 247,509 Other liabilities 16,653 634 17,287 Accounts payable and accrued liabilities 8,425 — 8,425 Liabilities associated with assets held for sale $ 730,510 $ 43,509 $ 774,019
Summary of Loss from Discontinued Operations	The following table is a summary of the Company’s loss from discontinued operations for the three months ended March 31, 2019 and 2018 (in thousands): Three Months Ended March 31, 2019 2018 Revenues: Rental income and related revenues $ 29,596 $ 28,266 Operating expenses: Property operating expenses 6,862 7,611 General and administrative expenses 293 308 Asset management fees 2,996 3,031 Property management fees 758 1,077 Depreciation and amortization — 10,681 Total operating expenses 10,909 22,708 Operating income 18,687 5,558 Other income (expense): Interest and other income 9 104 Interest expense and loan cost amortization (8,202 ) (7,822 ) Total other expense (8,193 ) (7,718 ) Income (loss) before income taxes 10,494 (2,160 ) Income tax expense (20 ) (18 ) Income (loss) from discontinued operations $ 10,474 $ (2,178 )

Operating Leases (Tables)

Operating Leases (Tables)	3 Months Ended
Operating Leases (Tables)	Mar. 31, 2019
Leases [Abstract]
Schedule of Future Minimum Lease Payments to be Received Under Non-Cancellable Operating Leases Excluding Properties Classified as Discontinued Operations	The following are future minimum lease payments to be received under non-cancellable operating leases for the remainder of 2019, each of the next four years and thereafter, in the aggregate, as of March 31, 2019 (in thousands): 2019 $ 20,159 2020 28,526 2021 29,128 2022 21,541 2023 20,912 Thereafter 50,948 $ 171,214

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	3 Months Ended
Variable Interest Entities (Tables)	Mar. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Aggregate Carrying Amount and Major Classifications of Consolidated Assets and Liabilities	The aggregate carrying amount and major classifications of the consolidated assets that can be used to settle obligations of the VIEs and liabilities of the consolidated VIEs that are non-recourse to the Company as of March 31, 2019 and December 31, 2018 are as follows (in thousands): March 31, 2019 December 31, 2018 Assets: Real estate investment properties, net $ 144,946 $ 146,341 Assets held for sale, net (1) $ 40,124 $ 39,601 Restricted cash $ 489 $ 208 Cash $ 947 $ 342 Deferred rent and lease incentives $ 7,639 $ 7,160 Other assets $ 530 $ 678 Liabilities: Mortgages and other notes payable, net $ 102,526 $ 102,578 Liabilities associated with assets for sale (1) $ 30,764 $ 30,695 Other liabilities $ 948 $ 1,321 Accounts payable and accrued liabilities $ 841 $ 784 FOOTNOTE: (1) Refer to Note 5. “Assets and Associated Liabilities Held For Sale and Discontinued Operations” for additional information.

Indebtedness (Tables)

Indebtedness (Tables)	3 Months Ended
Indebtedness (Tables)	Mar. 31, 2019
Debt Disclosure [Abstract]
Details of Indebtedness	The following table provides details of the Company’s indebtedness as of March 31, 2019 and December 31, 2018 (in thousands): March 31, December 31, 2019 2018 Mortgages payable and other notes payable: Fixed rate debt $ 356,151 $ 358,843 Variable rate debt (1) (2) 173,733 174,046 Mortgages and other notes payable (3) 529,884 532,889 Premium (discount), net (4) 173 184 Loan costs, net (2,050 ) (2,429 ) Total mortgages and other notes payable, net 528,007 530,644 Credit facilities: Revolving Credit Facility (1) (2) (5) — — First Term Loan Facility (1) 138,471 151,616 Second Term Loan Facility (1) (2) 275,000 275,000 Loan costs, net related to Term Loan Facilities (985 ) (1,003 ) Total credit facilities, net 412,486 425,613 Total indebtedness, net $ 940,493 $ 956,257 FOOTNOTES: (1) As of December 31, 2018, the Company had entered into interest rate swaps with notional amounts of approximately $151.6 million, which were settling on a monthly basis. As of March 31, 2019, there were no such interest rate swaps. Refer to Note 10. “Derivative Financial Instruments” for additional information. (2) As of March 31, 2019 and December 31, 2018, the Company had entered into interest rate caps with notional amounts of approximately $479.0 million and $330.0 million, respectively. Refer to Note 10. “Derivative Financial Instruments” for additional information. (3) As of March 31, 2019 and December 31, 2018, the Company’s mortgages and other notes payable are collateralized by 37 and 37 properties, respectively, with total carrying value of approximately $0.8 billion and $0.8 billion, respectively. (4) Premium (discount), net is reflective of the Company recording mortgage note payables assumed at fair value on the respective acquisition dates. (5) As of March 31, 2019 and December 31, 2018, the Company had undrawn availability under the senior unsecured revolving line of credit (“Revolving Credit Facility”) of approximately $20.7 million and $14.7 million, respectively, based on the value of the properties in the unencumbered pool of assets supporting the loan, which includes certain assets held for sale.
Schedule of Fair Market Value and Carrying Value of Indebtedness	The following table provides the details of the fair market value and carrying value of the Company’s indebtedness as of March 31, 2019 and December 31, 2018 (in millions): March 31, December 31, 2019 2018 Fair Value Carrying Value Fair Value Carrying Value Mortgages and other notes payable, net $ 528.5 $ 528.0 $ 528.7 $ 530.6 Credit facilities $ 413.5 $ 412.5 $ 426.6 $ 425.6 Indebtedness associated with assets held for sale $ 767.8 $ 765.0 $ 751.8 $ 748.3

Related Party Arrangements (Tab

Related Party Arrangements (Tables)	3 Months Ended
Related Party Arrangements (Tables)	Mar. 31, 2019
Related Party Transactions [Abstract]
Schedule of Fees, Reimbursable Expenses and Related Amounts Unpaid to Related Parties	The expenses and fees incurred by and reimbursable to the Company’s related parties, including amounts included in income (loss) from discontinued operations, for the three months ended March 31, 2019 and 2018, and related amounts unpaid as of March 31, 2019 and December 31, 2018 are as follows (in thousands): Three Months Ended Unpaid amounts as of (1) March 31, March 31, December 31, 2019 2018 2019 2018 Reimbursable expenses: Operating expenses (2) $ 1,268 $ 1,624 $ 995 $ 722 1,268 1,624 995 722 Financing coordination fees (3) 201 ― ― ― Property management fees (4) ― 1,168 ― ― Asset management fees (5) 7,597 7,597 2,531 2,533 $ 9,066 $ 10,389 $ 3,526 $ 3,255 FOOTNOTES: (1) Amounts are recorded as due to related parties in the accompanying condensed consolidated balance sheets. (2) Amounts are recorded as general and administrative expenses in the accompanying condensed consolidated statements of operations unless such amounts represent prepaid expenses, which are capitalized in the accompanying condensed consolidated balance sheets. (3) For the three months ended March 31, 2019, 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 three months ended March 31, 2018. (4) No property management fees were payable to the Property Manager for the three months ended March 31, 2019 as the property management agreement was not renewed beyond its expiration date in June 2018. (5) No expense support was estimated or received for the three months ended March 31, 2019 and 2018.

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
Derivative Financial Instruments (Tables)	Mar. 31, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Summary of Derivative Financial Instruments and Corresponding Asset (Liability), Including Properties Classified as Held for Sale	The following summarizes the terms of the Company’s, or its equity method investment’s, derivative financial instruments and the corresponding asset (liability) as of March 31, 2019 and December 31, 2018, including properties classified as held for sale (in thousands): Fair value as of Notional Amount Strike (1) Credit Spread (1) Trade date Forward date Maturity date March 31, 2019 December 31, 2018 $ 78,773 (2) 2.3 % 2.4 % 9/12/2014 8/1/2015 7/15/2019 $ 71 $ 168 $ — (2)(3) 1.6 % 2.0 % 12/23/2014 12/19/2014 2/19/2019 $ — $ 220 $ 123,913 (2) 1.7 % 2.0 % 1/9/2015 12/10/2015 12/22/2019 $ 621 $ 966 $ 117,000 (4) 2.3 % — % 8/29/2017 8/29/2017 9/1/2019 $ 116 $ 247 $ 410,000 (4) 3.0 % — % 3/28/2018 11/30/2018 12/19/2019 $ 2 $ 44 $ 51,575 (4) 3.0 % — % 3/28/2018 7/10/2018 12/19/2019 $ 1 $ 6 $ 175,000 (3)(4) 3.0 % — % 3/28/2018 2/19/2019 12/19/2019 $ — $ 19 $ 57,630 (4) 3.0 % — % 5/4/2018 5/4/2018 12/19/2019 $ — $ 6 $ 10,500 (4) 3.3 % — % 2/28/2019 3/1/2019 9/1/2021 $ 3 $ — (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 which are recorded at fair value and included in either other assets or other liabilities in the accompanying condensed consolidated balance sheets. (3) The swap related to the First Term Loan matured on February 19, 2019 and was replaced with a cap that was effective on February 19, 2019 and matures December 19, 2019. (4) Amounts related to the interest rate caps held by the Company, or its equity method investment, which are recorded at fair value and included in other assets in the accompanying condensed consolidated balance sheets.

Equity (Tables)

Equity (Tables)	3 Months Ended
Equity (Tables)	Mar. 31, 2019
Equity [Abstract]
Effect of Derivative Financial Instruments	Other comprehensive income (loss) — The following table reflects the effect of derivative financial instruments held by the Company, or its equity method investment, and included in the condensed consolidated statements of comprehensive income (loss) for the three months ended March 31, 2019 and 2018 (in thousands): Derivative financial instruments Gain (loss) recognized in other comprehensive income (loss) on derivative financial instruments Location of gain (loss) reclassified into earnings Gain (loss) reclassified from accumulated other comprehensive income (loss) into earnings Three Months Ended March 31, Three Months Ended March 31, 2019 2018 2019 2018 Interest rate swaps $ (662 ) $ 1,967 Interest expense and loan cost amortization $ 689 $ (228 ) Interest rate caps (230 ) 1,060 Interest expense and loan cost amortization (52 ) (418 ) Reclassification of interest rate swaps upon derecognition — 126 Interest expense and loan cost amortization — (126 ) Total $ (892 ) $ 3,153 $ 637 $ (772 )

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
Commitments and Contingencies (Tables)	Mar. 31, 2019
Schedule of Future Minimum Lease Payments to be Received Under Non-Cancellable Operating Leases Excluding Properties Classified as Discontinued Operations	The following are future minimum lease payments to be received under non-cancellable operating leases for the remainder of 2019, each of the next four years and thereafter, in the aggregate, as of March 31, 2019 (in thousands): 2019 $ 20,159 2020 28,526 2021 29,128 2022 21,541 2023 20,912 Thereafter 50,948 $ 171,214
Ground Leases
Schedule of Future Minimum Lease Payments to be Received Under Non-Cancellable Operating Leases Excluding Properties Classified as Discontinued Operations	The following is a schedule of future minimum lease payments to be paid under the ground leases for each of the next five years and thereafter, in the aggregate, as of December 31, 2018 (in thousands): 2019 $ 2,024 2020 2,047 2021 2,078 2022 2,108 2023 2,144 Thereafter 106,780 $ 117,181
Ground Leases
Schedule of Future Minimum Lease Payments to be Paid Under Ground Leases for Remainder of Year and Next Four Years	The following is a schedule of future minimum lease payments to be paid under the ground leases for the remainder of 2019, each of the next four years and thereafter, in the aggregate, as of March 31, 2019 (in thousands): 2019 $ 1,518 2020 2,047 2021 2,078 2022 2,108 2023 2,144 Thereafter 106,780 Undiscounted future minimum lease payments 116,675 Less: imputed interest (113,318 ) Present value of operating lease liabilities $ 3,357

Organization - Additional Infor

Organization - Additional Information (Detail)	Sep. 30, 2015USD ($)	Apr. 30, 2019USD ($)Property	Mar. 31, 2019USD ($)PropertyState	Dec. 31, 2018USD ($)Property	Mar. 31, 2019USD ($)PropertyStateBuildingFacilityHospital	Mar. 31, 2018USD ($)	Dec. 31, 2018Property	Oct. 31, 2015shares
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Entity incorporation, date of incorporation					Jun. 8, 2010
Aggregate proceeds received from offering \| $	$ 1,700,000,000				$ 0	$ 11,078,000
Sale of additional share of common stock \| shares								20,000,000
Number of properties held for sale					70		70
Amount held in escrow \| $					$ 77,500,000
Healthcare Investment Portfolio
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Number of properties held for sale					70
Number of states \| State			34		34
Number of properties					142
Number of seniors housing properties					72
Number of medical office buildings \| Building					53
Number of post acute care facilities \| Facility					12
Number of acute care hospitals \| Hospital					5
MOB Sale Agreement \| Welltower Inc.
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
MOB sale, gross price \| $				$ 1,250,000,000
Number of properties comprised in MOB sale			55	55
Amount held in escrow \| $					$ 76,000,000
IRF Sale Agreement \| Subsequent Event
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Gross sales price of properties \| $		$ 93,200,000
IRF Sale Agreement \| Global Medical REIT Inc.
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Number of properties held for sale			4
Gross sales price of properties \| $			$ 94,000,000
IRF Sale and MOB Sale Agreement \| Subsequent Event
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Number of properties held for sale		4
Number of properties		70

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Apr. 30, 2019	Mar. 31, 2019
Summary Of Significant Accounting Policies [Line Items]
Amount held in escrow		$ 77,500
IRF Sale Agreement \| Subsequent Event
Summary Of Significant Accounting Policies [Line Items]
Escrow deposit	$ 1,500
MOB/Healthcare Portfolio \| IRF Sale Agreement
Summary Of Significant Accounting Policies [Line Items]
Amount held in escrow		$ 77,500

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Adjusted Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands		Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Assets held for sale, net		$ 1,151,223		$ 1,147,645
Total assets		2,775,400		2,705,887
Liabilities associated with assets held for sale		(790,913)		(774,019)
Total liabilities		(1,841,056)		(1,763,961)
Accumulated loss		(220,765)		(233,847)
Total equity		$ (934,344)		$ (941,926)	$ (1,021,288)	$ (1,052,660)
Adoption of ASC 842
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Assets held for sale, net			$ 1,148,048
Total assets			2,706,290
Liabilities associated with assets held for sale			(771,240)
Total liabilities			(1,761,182)
Accumulated loss			(230,665)
Total equity			(938,744)
Adoption of ASC 842 \| Adjustments
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Assets held for sale, net	[1]		403
Total assets	[1]		403
Liabilities associated with assets held for sale	[1]		2,779
Total liabilities	[1]		2,779
Accumulated loss	[1]		3,182
Total equity	[1]		$ 3,182

[1]	The effect of adopting these ASUs on January 1, 2019 is presented by financial statement line item with certain lease-related components being grouped within a single financial statement line item given the classification of such components as held for sale. More specifically, as further detailed in Note 5. “Assets and Associated Liabilities Held For Sale and Discontinued Operations,” the Company reclassified approximately $11.1 million of below-market ground lease intangibles to operating lease assets as well as approximately $6.1 million of ground lease-related other liabilities to operating lease liabilities as a result of adopting these ASUs on January 1, 2019.

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Adjusted Consolidated Balance Sheet (Parenthetical) (Detail) - Adoption of ASC 842 $ in Millions	Jan. 01, 2019USD ($)
Summary Of Significant Accounting Policies [Line Items]
Operating lease, asset	$ 11.1
Operating lease, liability	$ 6.1

Revenue - Summary of Disaggrega

Revenue - Summary of Disaggregation of Revenue (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)Facility	Mar. 31, 2018USD ($)Facility
Disaggregation Of Revenue [Line Items]
Number of Units \| Facility	6,080	6,080
Revenues	$ 71,275	$ 67,519
Percentage of Revenues	100.00%	100.00%
Independent Living
Disaggregation Of Revenue [Line Items]
Number of Units \| Facility	2,261	2,261
Revenues	$ 18,500	$ 17,500
Percentage of Revenues	25.90%	25.90%
Assisted Living
Disaggregation Of Revenue [Line Items]
Number of Units \| Facility	2,966	2,966
Revenues	$ 35,000	$ 33,700
Percentage of Revenues	49.10%	49.90%
Memory Care
Disaggregation Of Revenue [Line Items]
Number of Units \| Facility	853	853
Revenues	$ 14,400	$ 13,000
Percentage of Revenues	20.20%	19.30%
Other Revenues
Disaggregation Of Revenue [Line Items]
Revenues	$ 3,400	$ 3,300
Percentage of Revenues	4.80%	4.90%

Real Estate Assets, Net - Sched

Real Estate Assets, Net - Schedule of Real Estate Investment Properties Excluding Assets Held For Sale (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Real Estate [Abstract]
Land and land improvements	$ 130,198	$ 130,133
Building and building improvements	1,475,904	1,475,789
Furniture, fixtures and equipment	81,754	81,666
Less: accumulated depreciation	(244,675)	(232,439)
Real estate investment properties, net	$ 1,443,181	$ 1,455,149

Real Estate Assets, Net - Addit

Real Estate Assets, Net - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Real Estate Investment Properties
Real Estate Properties [Line Items]
Depreciation expense	$ 12.2	$ 13.2

Assets and Associated Liabili_3

Assets and Associated Liabilities Held for Sale and Discontinued Operations - Additional Information (Detail) $ in Thousands	1 Months Ended		3 Months Ended	12 Months Ended
	Mar. 31, 2019USD ($)Property	Dec. 31, 2018USD ($)Property	Mar. 31, 2019USD ($)PropertyFacilityHospital	Dec. 31, 2018Property
Long Lived Assets Held For Sale [Line Items]
Number of properties committed for sale			70
Number of properties held for sale			70	70
Number of other properties			7
Amount held in escrow \| $			$ 77,500
Number of properties owned, discontinued operations	63		63
MOB Sale Agreement \| Welltower Inc.
Long Lived Assets Held For Sale [Line Items]
Number of properties comprised in MOB sale	55	55
MOB sale, gross price \| $		$ 1,250,000
Amount held in escrow \| $			$ 76,000
MOB/Healthcare Portfolio \| IRF Sale Agreement
Long Lived Assets Held For Sale [Line Items]
Number of properties held for sale	4
Amount held in escrow \| $			$ 77,500
Gross sales price of properties \| $	$ 94,000
Arkansas
Long Lived Assets Held For Sale [Line Items]
Number of skilled nursing facilities \| Facility			6
U.S \| MOB/Healthcare Portfolio
Long Lived Assets Held For Sale [Line Items]
Number of properties comprised in MOB sale			53
Number of post acute care facilities \| Facility			5
Number of acute care hospitals \| Hospital			5

Assets and Associated Liabili_4

Assets and Associated Liabilities Held for Sale and Discontinued Operations - Schedule of Assets Classified as Held for Sale and Liabilities Associated with Those Assets Held for Sale (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Long Lived Assets Held For Sale [Line Items]
Real estate investment properties, net	$ 1,443,181	$ 1,455,149
Deferred rent and lease incentives	15,171	14,763
Other assets	17,684	23,488
Assets held for sale, net	1,151,223	1,147,645
Liabilities associated with assets held for sale	790,913	774,019
MOB/Healthcare Portfolio
Long Lived Assets Held For Sale [Line Items]
Real estate investment properties, net	952,987
Real estate held for sale, net		952,656
Real estate under development	3,539	3,490
Intangibles, net	71,295	82,417
Deferred rent and lease incentives	38,415	36,562
Other assets	11,954	11,425
Operating lease assets, net	11,525
Restricted cash	2,166	2,013
Assets held for sale, net	1,091,881	1,088,563
Mortgages and other notes payable, net	491,254	492,701
Credit facilities	233,002	212,731
Other liabilities	10,890	16,653
Accounts payable and accrued liabilities	11,058	8,425
Operating lease liabilities	3,357
Liabilities associated with assets held for sale	749,561	730,510
Other
Long Lived Assets Held For Sale [Line Items]
Real estate investment properties, net	51,339
Real estate held for sale, net		51,339
Intangibles, net	800	800
Deferred rent and lease incentives	6,568	6,501
Other assets	490	182
Restricted cash	145	260
Assets held for sale, net	59,342	59,082
Mortgages and other notes payable, net	8,117	8,097
Credit facilities	32,595	34,778
Other liabilities	634	634
Accounts payable and accrued liabilities	6
Liabilities associated with assets held for sale	41,352	43,509
Disposal Groups Held For Sale
Long Lived Assets Held For Sale [Line Items]
Real estate investment properties, net	1,004,326
Real estate held for sale, net		1,003,995
Real estate under development	3,539	3,490
Intangibles, net	72,095	83,217
Deferred rent and lease incentives	44,983	43,063
Other assets	12,444	11,607
Operating lease assets, net	11,525
Restricted cash	2,311	2,273
Assets held for sale, net	1,151,223	1,147,645
Mortgages and other notes payable, net	499,371	500,798
Credit facilities	265,597	247,509
Other liabilities	11,524	17,287
Accounts payable and accrued liabilities	11,064	8,425
Operating lease liabilities	3,357
Liabilities associated with assets held for sale	$ 790,913	$ 774,019

Assets and Associated Liabili_5

Assets and Associated Liabilities Held for Sale and Discontinued Operations - Summary of Loss from Discontinued Operations (Detail) - MOB/Healthcare Portfolio - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues:
Rental income and related revenues	$ 29,596	$ 28,266
Operating expenses:
Property operating expenses	6,862	7,611
General and administrative expenses	293	308
Depreciation and amortization		10,681
Total operating expenses	10,909	22,708
Operating income	18,687	5,558
Other income (expense):
Interest and other income	9	104
Interest expense and loan cost amortization	(8,202)	(7,822)
Total other expense	(8,193)	(7,718)
Income (loss) before income taxes	10,494	(2,160)
Income tax expense	(20)	(18)
Income (loss) from discontinued operations	10,474	(2,178)
Asset Management Fees
Operating expenses:
Asset / Property management fees	2,996	3,031
Property Management Fees
Operating expenses:
Asset / Property management fees	$ 758	$ 1,077

Operating Leases - Additional I

Operating Leases - Additional Information (Detail) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2019USD ($)Property	Dec. 31, 2018Property
Operating Leased Assets [Line Items]
Number of properties held for sale	70	70
Lessor, Operating Lease, Existence of Option to Extend [true false]	true
Lessor, operating lease, option to extend	subject to the tenants’ options to extend the lease terms by an additional five years
Triple Net Lease Agreements
Operating Leased Assets [Line Items]
Number of seniors housing properties	15
Number of properties held for sale	70
Total annualized property tax \| $	$ 3.2
Weighted average remaining lease term	5 years 8 months 12 days
Extended lease period	5 years
Triple Net Lease Agreements \| Minimum
Operating Leased Assets [Line Items]
Lease, expiration year	2022
Triple Net Lease Agreements \| Maximum
Operating Leased Assets [Line Items]
Lease, expiration year	2027

Operating Leases - Schedule of

Operating Leases - Schedule of Future Minimum Lease Payments to be Received Under Non-Cancellable Operating Leases Excluding Properties Classified as Discontinued Operations (Detail) $ in Thousands	Mar. 31, 2019USD ($)
Leases [Abstract]
2019	$ 20,159
2020	28,526
2021	29,128
2022	21,541
2023	20,912
Thereafter	50,948
Total	$ 171,214

Variable Interest Entities - Ag

Variable Interest Entities - Aggregate Carrying Amount and Major Classifications of Consolidated Assets and Liabilities (Detail) - USD ($) $ in Thousands		Mar. 31, 2019	Dec. 31, 2018
Variable Interest Entity [Line Items]
Real estate investment properties, net		$ 1,443,181	$ 1,455,149
Assets held for sale, net		1,151,223	1,147,645
Restricted cash		82,540	6,119
Cash		64,085	57,109
Deferred rent and lease incentives		15,171	14,763
Other assets		17,684	23,488
Mortgages and other notes payable, net		528,007	530,644
Liabilities associated with assets held for sale		790,913	774,019
Other liabilities		86,339	8,548
VIEs
Variable Interest Entity [Line Items]
Real estate investment properties, net		144,946	146,341
Assets held for sale, net	[1]	40,124	39,601
Restricted cash		489	208
Cash		947	342
Deferred rent and lease incentives		7,639	7,160
Other assets		530	678
Mortgages and other notes payable, net		102,526	102,578
Liabilities associated with assets held for sale	[1]	30,764	30,695
Other liabilities		948	1,321
Accounts payable and accrued liabilities		$ 841	$ 784

[1]	Refer to Note 5. “Assets and Associated Liabilities Held For Sale and Discontinued Operations” for additional information.

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Detail) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2019USD ($)Subsidiary	Dec. 31, 2018Subsidiary
Variable Interest Entity [Line Items]
Maximum exposure to loss VIEs limits \| $	$ 57.8
Variable interest entity, description	As of March 31, 2019 and December 31, 2018, the Company had eight subsidiaries which are classified as VIEs due to the following factors and circumstances: Two 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 that include buy-out and put options held by either the tenant or landlord under the applicable lease. Three of these subsidiaries are entities with completed real estate under development in which there is insufficient equity at risk due to the development nature of each entity. Two of these subsidiaries are joint ventures with completed real estate under development in which there is insufficient equity at risk due to the development nature of each joint venture. One of these subsidiaries is a joint venture with equity interests that consist of non-substantive protective voting rights, but not any participating or kick-out rights.
VIEs
Variable Interest Entity [Line Items]
Number of subsidiaries	8	8
VIEs \| Single Property Entities
Variable Interest Entity [Line Items]
Number of subsidiaries	2	2
VIEs \| Real Estate Under Development Entities
Variable Interest Entity [Line Items]
Number of subsidiaries	3	3
VIEs \| Joint Ventures Real Estate Under Development Entities
Variable Interest Entity [Line Items]
Number of subsidiaries	2	2
VIEs \| Joint Venture with Equity Interest
Variable Interest Entity [Line Items]
Number of subsidiaries	1	1

Indebtedness - Details of Indeb

Indebtedness - Details of Indebtedness (Detail) - USD ($) $ in Thousands		Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Premium (discount), net	[1]	$ 173	$ 184
Loan costs, net		(2,050)	(2,429)
Total mortgages and other notes payable, net		528,007	530,644
Credit facilities		412,486	425,613
Total indebtedness, net		940,493	956,257
First Term Loan Facility
Debt Instrument [Line Items]
Credit facilities	[2]	138,471	151,616
Second Term Loan Facility
Debt Instrument [Line Items]
Credit facilities	[2],[3]	275,000	275,000
Term Loan Facility
Debt Instrument [Line Items]
Loan costs, net		(985)	(1,003)
Mortgages payable and other notes payable
Debt Instrument [Line Items]
Mortgages payable and other notes payable	[4]	529,884	532,889
Fixed rate debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable		356,151	358,843
Variable Rate Debt
Debt Instrument [Line Items]
Mortgages payable and other notes payable	[2],[3]	$ 173,733	$ 174,046

[1]	Premium (discount), net is reflective of the Company recording mortgage note payables assumed at fair value on the respective acquisition dates.
[2]	As of December 31, 2018, the Company had entered into interest rate swaps with notional amounts of approximately $151.6 million, which were settling on a monthly basis. As of March 31, 2019, there were no such interest rate swaps. Refer to Note 10. “Derivative Financial Instruments” for additional information.
[3]	As of March 31, 2019 and December 31, 2018, the Company had entered into interest rate caps with notional amounts of approximately $479.0 million and $330.0 million, respectively. Refer to Note 10. “Derivative Financial Instruments” for additional information.
[4]	As of March 31, 2019 and December 31, 2018, the Company’s mortgages and other notes payable are collateralized by 37 and 37 properties, respectively, with total carrying value of approximately $0.8 billion and $0.8 billion, respectively.

Indebtedness - Details of Ind_2

Indebtedness - Details of Indebtedness (Parenthetical) (Detail)	Mar. 31, 2019USD ($)Property	Dec. 31, 2018USD ($)Property
Revolving Credit Facility
Debt Instrument [Line Items]
Debt Instrument, Current borrowing capacity	$ 20,700,000	$ 14,700,000
Secured Mortgages and Other Notes Payable
Debt Instrument [Line Items]
Number of collateralized properties owned \| Property	37	37
Mortgages and other notes payable carrying value of collateral	$ 800,000,000	$ 800,000,000
Interest Rate Swap
Debt Instrument [Line Items]
Notional amounts of derivative contract	0	151,600,000
Interest Rate Cap
Debt Instrument [Line Items]
Notional amounts of derivative contract	$ 479,000,000	$ 330,000,000

Indebtedness - Additional Infor

Indebtedness - Additional Information (Detail) - USD ($)	Feb. 19, 2019	Apr. 30, 2019	Mar. 31, 2019	Dec. 31, 2014
Debt Instrument [Line Items]
Indebtedness maturing amount in 2019			$ 406,300,000
Indebtedness maturing amount through May 2020			248,400,000
Repayments of indebtedness			$ 404,100,000
Maximum allowable distributions as a percentage of adjusted FFO			95.00%
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]
Line of credit facility extension period	12 months
Aggregate maximum principal amount available for borrowing				$ 175,000,000
Line of credit facility, initial maturity	2019-02
Line of credit facility, extended maturity	2020-02
Subsequent Event
Debt Instrument [Line Items]
Indebtedness maturing amount through May 2020		$ 578,200,000
Repayments of indebtedness		76,500,000
Subsequent Event \| Fieldstone at Pear Orchard
Debt Instrument [Line Items]
Repayments of indebtedness		$ 2,100,000

Indebtedness - Schedule of Fair

Indebtedness - Schedule of Fair Market Value and Carrying Value of Indebtedness (Detail) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Indebtedness Associated with Assets Held for Sale
Debt Instrument [Line Items]
Fair Value	$ 767.8	$ 751.8
Carrying Value	765	748.3
Mortgages and other notes payable, net
Debt Instrument [Line Items]
Fair Value	528.5	528.7
Carrying Value	528	530.6
Credit facilities
Debt Instrument [Line Items]
Fair Value	413.5	426.6
Carrying Value	$ 412.5	$ 425.6

Related Party Arrangements - Ad

Related Party Arrangements - Additional Information (Detail) - USD ($) $ in Thousands	May 10, 2019	Apr. 30, 2018	Mar. 31, 2019	Mar. 31, 2018
Related Party Transaction [Line Items]
Cash distributions on restricted stock			$ 20,246	$ 9,246
Expense Support Agreements \| Restricted Stock
Related Party Transaction [Line Items]
Cash distributions on restricted stock			$ 200	$ 200
Advisor \| Subsequent Event
Related Party Transaction [Line Items]
Advisory agreement extended through the date	2020-06
Property Manager
Related Party Transaction [Line Items]
Property management agreement expire stated date		2018-06

Related Party Arrangements - Sc

Related Party Arrangements - Schedule of Fees, Reimbursable Expenses and Related Amounts Unpaid to Related Parties (Detail) - USD ($)		3 Months Ended
		Mar. 31, 2019		Mar. 31, 2018	Dec. 31, 2018
Related Party Transactions [Abstract]
Operating expenses	[1]	$ 1,268,000		$ 1,624,000
Total reimbursable expenses		1,268,000		1,624,000
Financing coordination fees		201,000	[2]	0
Property management fees	[3]			1,168,000
Asset management fees	[4]	7,597,000		7,597,000
Total reimbursable expenses, net		9,066,000		$ 10,389,000
Operating expenses, unpaid	[1],[5]	995,000			$ 722,000
Total reimbursable expenses due	[5]	995,000			722,000
Asset management fees, unpaid	[4],[5]	2,531,000			2,533,000
Total related amount unpaid	[5]	$ 3,526,000			$ 3,255,000

[1]	Amounts are recorded as general and administrative expenses in the accompanying condensed consolidated statements of operations unless such amounts represent prepaid expenses, which are capitalized in the accompanying condensed consolidated balance sheets.
[2]	For the three months ended March 31, 2019, 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 three months ended March 31, 2018.
[3]	No property management fees were payable to the Property Manager for the three months ended March 31, 2019 as the property management agreement was not renewed beyond its expiration date in June 2018.
[4]	No expense support was estimated or received for the three months ended March 31, 2019 and 2018.
[5]	Amounts are recorded as due to related parties in the accompanying condensed consolidated balance sheets.

Related Party Arrangements - _2

Related Party Arrangements - Schedule of Fees, Reimbursable Expenses and Related Amounts Unpaid to Related Parties (Parenthetical) (Detail) - USD ($)		3 Months Ended
		Mar. 31, 2019		Mar. 31, 2018
Related Party Transaction [Line Items]
Financing coordination fees		$ 201,000	[1]	$ 0
Property management fees	[2]			1,168,000
Expense under Support Agreement		0		$ 0
Windsor Manor Joint Venture
Related Party Transaction [Line Items]
Financing coordination fees		200,000
Property Manager
Related Party Transaction [Line Items]
Property management fees		$ 0

[1]	For the three months ended March 31, 2019, 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 three months ended March 31, 2018.
[2]	No property management fees were payable to the Property Manager for the three months ended March 31, 2019 as the property management agreement was not renewed beyond its expiration date in June 2018.

Derivative Financial Instrume_3

Derivative Financial Instruments - Summary of Derivative Financial Instruments and Corresponding Asset (Liability), Including Properties Classified as Held for Sale (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Dec. 31, 2018
Derivative Financial Instruments One
Derivative [Line Items]
Notional amount of derivative contract	[1]	$ 78,773
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)		$ 71	$ 168
Derivative Financial Instruments Two
Derivative [Line Items]
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)			220
Derivative Financial Instruments Three
Derivative [Line Items]
Notional amount of derivative contract	[1]	$ 123,913
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)		$ 621	966
Derivative Financial Instruments Four
Derivative [Line Items]
Notional amount of derivative contract	[3]	$ 117,000
Strike	[2]	2.30%
Trade date		Aug. 29, 2017
Forward date		Aug. 29, 2017
Maturity date		Sep. 1, 2019
Fair value asset (liability)		$ 116	247
Derivative Financial Instruments Five
Derivative [Line Items]
Notional amount of derivative contract	[3]	$ 410,000
Strike	[2]	3.00%
Trade date		Mar. 28, 2018
Forward date		Nov. 30, 2018
Maturity date		Dec. 19, 2019
Fair value asset (liability)		$ 2	44
Derivative Financial Instruments Six
Derivative [Line Items]
Notional amount of derivative contract	[3]	$ 51,575
Strike	[2]	3.00%
Trade date		Mar. 28, 2018
Forward date		Jul. 10, 2018
Maturity date		Dec. 19, 2019
Fair value asset (liability)		$ 1	6
Derivative Financial Instruments Seven
Derivative [Line Items]
Notional amount of derivative contract	[3],[4]	$ 175,000
Strike	[2]	3.00%
Trade date		Mar. 28, 2018
Forward date		Feb. 19, 2019
Maturity date		Dec. 19, 2019
Fair value asset (liability)			19
Derivative Financial Instruments Eight
Derivative [Line Items]
Notional amount of derivative contract	[3]	$ 57,630
Strike	[2]	3.00%
Trade date		May 4, 2018
Forward date		May 4, 2018
Maturity date		Dec. 19, 2019
Fair value asset (liability)			$ 6
Derivative Financial Instruments Nine
Derivative [Line Items]
Notional amount of derivative contract	[3]	$ 10,500
Strike	[2]	3.30%
Trade date		Feb. 28, 2019
Forward date		Mar. 1, 2019
Maturity date		Sep. 1, 2021
Fair value asset (liability)		$ 3

[1]	Amounts related to interest rate swaps held by the Company which are recorded at fair value and included in either other assets or other liabilities in the accompanying condensed consolidated balance sheets.
[2]	The all-in rates are equal to the sum of the Strike and Credit Spread detailed above.
[3]	Amounts related to the interest rate caps held by the Company, or its equity method investment, which are recorded at fair value and included in other assets in the accompanying condensed consolidated balance sheets.
[4]	The swap related to the First Term Loan matured on February 19, 2019 and was replaced with a cap that was effective on February 19, 2019 and matures December 19, 2019.

Derivative Financial Instrume_4

Derivative Financial Instruments - Summary of Derivative Financial Instruments and Corresponding Asset (Liability), Including Properties Classified as Held for Sale (Parenthetical) (Detail) - Interest Rate Cap - First Term Loan Facility	3 Months Ended
	Mar. 31, 2019
Derivative [Line Items]
Effective date	Feb. 19, 2019
Maturity date	Dec. 19, 2019

Equity - Additional Information

Equity - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions	Sep. 30, 2015	Mar. 31, 2019	Mar. 31, 2018
Class Of Stock [Line Items]
Aggregate proceeds received from offering	$ 1,700,000,000	$ 0	$ 11,078,000
Subscriptions received for common stock through public offering and reinvestment plan (in shares)			1.1
Cash distribution declared		20,246,000	$ 20,324,000
Cash paid to stockholders		20,246,000	9,246,000
Redemptions of common stock		0	$ 17,400,000
Redemption of common stock, per share			$ 10.13
Reinvestment Plan
Class Of Stock [Line Items]
Cash distribution declared		$ 0	$ 11,100,000

Equity - Effect of Derivative F

Equity - Effect of Derivative Financial Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Derivative Instruments Gain Loss [Line Items]
Derivative instruments, Gain (loss) recognized in other comprehensive income (loss)	$ (892)	$ 3,153
Interest Expense and Loan Cost Amortization
Derivative Instruments Gain Loss [Line Items]
Gain (loss) reclassified from accumulated other comprehensive income (loss) into earnings	637	(772)
Interest Rate Swap
Derivative Instruments Gain Loss [Line Items]
Derivative instruments, Gain (loss) recognized in other comprehensive income (loss)	(662)	1,967
Interest Rate Swap \| Interest Expense and Loan Cost Amortization
Derivative Instruments Gain Loss [Line Items]
Gain (loss) reclassified from accumulated other comprehensive income (loss) into earnings	689	(228)
Interest Rate Cap
Derivative Instruments Gain Loss [Line Items]
Derivative instruments, Gain (loss) recognized in other comprehensive income (loss)	(230)	1,060
Interest Rate Cap \| Interest Expense and Loan Cost Amortization
Derivative Instruments Gain Loss [Line Items]
Gain (loss) reclassified from accumulated other comprehensive income (loss) into earnings	$ (52)	(418)
Reclassification of Interest Rate Swaps Upon Derecognition
Derivative Instruments Gain Loss [Line Items]
Derivative instruments, Gain (loss) recognized in other comprehensive income (loss)		126
Reclassification of Interest Rate Swaps Upon Derecognition \| Interest Expense and Loan Cost Amortization
Derivative Instruments Gain Loss [Line Items]
Gain (loss) reclassified from accumulated other comprehensive income (loss) into earnings		$ (126)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income tax expense	$ 655	$ 617
Current income tax expense	200	100
Income tax expense, a decrease in deferred tax asset	$ 500	$ 500

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) shares in Millions	3 Months Ended
	Mar. 31, 2019USD ($)Agreementshares
Commitments And Contingencies [Line Items]
Number of promoted interest agreements	6
Number of promoted interest agreements not met established performance metrics	5
Number of promoted interest agreements met established performance metrics	1
Company accrued interest to holder's \| $	$ 0
Advisor Expense Support Agreement \| Restricted Stock
Commitments And Contingencies [Line Items]
Contingently issuable restricted stock shares \| shares	1.3

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Future Minimum Lease Payments to be Paid Under Ground Leases for Remainder of Year and Next Four Years (Detail) - Ground Leases - MOB/Healthcare Portfolio $ in Thousands	Mar. 31, 2019USD ($)
Lessee Lease Description [Line Items]
2019	$ 1,518
2020	2,047
2021	2,078
2022	2,108
2023	2,144
Thereafter	106,780
Undiscounted future minimum lease payments	116,675
Less: imputed interest	(113,318)
Operating lease, liability	$ 3,357

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Future Minimum Lease Payments to be Paid Under Ground Leases (Detail) - Ground Leases $ in Thousands	Dec. 31, 2018USD ($)
Operating Leased Assets [Line Items]
2019	$ 2,024
2020	2,047
2021	2,078
2022	2,108
2023	2,144
Thereafter	106,780
Total	$ 117,181

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) $ in Millions	May 10, 2019	Apr. 30, 2019USD ($)Property	Mar. 31, 2019USD ($)
Subsequent Event [Line Items]
Repayments of debt			$ 404.1
Subsequent Event
Subsequent Event [Line Items]
Repayments of debt		$ 76.5
Subsequent Event \| Advisor
Subsequent Event [Line Items]
Advisory agreement extended through the date	2020-06
Subsequent Event \| Mortgage Loans \| Cobalt Rehabilitation Hospital Surprise
Subsequent Event [Line Items]
Repayments of debt		14.7
Subsequent Event \| Mortgage Loans \| Medical Portfolio II
Subsequent Event [Line Items]
Repayments of debt		76.3
Subsequent Event \| IRF Sale Agreement
Subsequent Event [Line Items]
Gross sales price of properties		$ 93.2
Number of properties sold \| Property		4