National Healthcare Properties (NHPBP) 10-K 21 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2016	Feb. 28, 2017	Jun. 30, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	Healthcare Trust, Inc.
Entity Central Index Key	1,561,032
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		89,905,069
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 0

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Real estate investments, at cost:
Land	$ 187,868	$ 192,790
Buildings, fixtures and improvements	1,872,590	1,885,713
Construction in progress	60,055	21,309
Acquired intangible assets	234,749	241,459
Total real estate investments, at cost	2,355,262	2,341,271
Less: accumulated depreciation and amortization	(241,027)	(146,669)
Total real estate investments, net	2,114,235	2,194,602
Cash and cash equivalents	29,225	24,474
Restricted cash	3,962	4,647
Investment securities, at fair value	0	1,078
Non-designated derivative assets, at fair value	61	0
Straight-line rent receivable, net	12,026	11,470
Prepaid expenses and other assets	22,073	21,707
Deferred costs, net	12,123	11,864
Total assets	2,193,705	2,269,842
LIABILITIES AND EQUITY
Mortgage notes payable, net of deferred financing costs	142,288	157,305
Mortgage premiums and discounts, net	466	2,403
Credit facilities	481,500	430,000
Market lease intangible liabilities, net	20,187	22,994
Accounts payable and accrued expenses (including $862 and $536 due to related parties as of December 31, 2016 and 2015, respectively)	27,080	38,449
Deferred rent	4,986	4,356
Distributions payable	12,872	12,518
Total liabilities	689,379	668,025
Preferred stock, $0.01 par value, 50,000,000 authorized, none issued and outstanding as of December 31, 2016 and 2015	0	0
Common stock, $0.01 par value, 300,000,000 shares authorized, 89,368,899 and 86,135,411 shares of common stock issued and outstanding as of December 31, 2016 and 2015, respectively	894	861
Additional paid-in capital	1,981,136	1,907,549
Accumulated other comprehensive income (loss)	0	(6)
Accumulated deficit	(486,574)	(316,284)
Total stockholders' equity	1,495,456	1,592,120
Non-controlling interests	8,870	9,697
Total equity	1,504,326	1,601,817
Total liabilities and equity	$ 2,193,705	$ 2,269,842

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value, in dollars per share	$ 0.01	$ 0.01
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	89,368,899	86,135,411
Common stock, shares outstanding	89,368,899	86,135,411
Due to affiliates	$ 862	$ 536

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues:
Rental income	$ 103,375	$ 93,218	$ 23,005
Operating expense reimbursements	15,876	12,759	3,585
Resident services and fee income	183,177	140,901	31,849
Contingent purchase price consideration	138	612	0
Total revenues	302,566	247,490	58,439
Expenses:
Property operating and maintenance	172,077	125,573	26,717
Impairment on sale of real estate investments	389	0	0
Operating fees to related parties	20,583	12,191	0
Acquisition and transaction related	3,163	14,679	33,623
General and administrative	12,105	9,733	3,541
Depreciation and amortization	98,886	120,924	28,889
Total expenses	307,203	283,100	92,770
Operating loss			(34,331)
Other income (expense):
Interest expense	(19,881)	(10,356)	(3,559)
Interest and other income	47	582	735
Gain on non-designated derivative instruments	31	0	0
Gain on sale of real estate investment	1,330	0	0
Gain on sale of investment securities	56	446	8
Total other expenses	(18,417)	(9,328)	(2,816)
Loss before income tax	(23,054)	(44,938)	(37,147)
Income tax benefit (expense)	2,084	2,978	(565)
Net loss	(20,970)	(41,960)	(37,712)
Net loss attributable to non-controlling interests	96	219	34
Net loss attributable to stockholders	(20,874)	(41,741)	(37,678)
Other comprehensive loss:
Designated derivatives, fair value adjustment	0	0	0
Unrealized gain (loss) on investment securities, net	6	(469)	463
Comprehensive loss attributable to stockholders	$ (20,868)	$ (42,210)	$ (37,215)
Basic and diluted weighted average shares outstanding (in shares)	87,878,907	85,331,966	51,234,729
Basic and diluted net loss per share (in usd per share)	$ (0.24)	$ (0.49)	$ (0.74)
Dividends declared (in usd per share)	$ 1.70	$ 1.70	$ 1.70

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Total Stockholders' Equity	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income	Accumulated Deficit	Non-controlling Interests
Beginning Balance (in shares) at Dec. 31, 2013			7,529,789
Beginning Balance at Dec. 31, 2013	$ 158,149	$ 158,149	$ 75	$ 161,952	$ 0	$ (3,878)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)			74,504,754
Issuance of common stock	1,851,951	1,851,951	$ 745	1,851,206
Common stock offering costs, commissions and dealer manager fees	(202,857)	(202,857)		(202,857)
Common stock issued through distribution reinvestment plan (in shares)			1,750,705
Common stock issued through distribution reinvestment plan	41,580	41,580	$ 18	41,562
Common stock repurchases (in shares)			(72,431)
Common stock repurchases	(1,768)	(1,768)	$ (1)	(1,767)
Equity-based compensation (in shares)			6,036
Equity-based compensation, net	73	73		73
Distributions declared	(87,850)	(87,850)				(87,850)
Contributions from non-controlling interest holders	10,148						10,148
Unrealized gain on investments	463	463			463
Net loss	(37,712)	(37,678)				(37,678)	(34)
Ending Balance (in shares) at Dec. 31, 2014			83,718,853
Ending Balance at Dec. 31, 2014	1,732,177	1,722,063	$ 837	1,850,169	463	(129,406)	10,114
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock offering costs, commissions and dealer manager fees	$ 2	2		2
Common stock issued through distribution reinvestment plan (in shares)	3,300,000		3,305,297
Common stock issued through distribution reinvestment plan	$ 78,502	78,502	$ 33	78,469
Common stock repurchases (in shares)			(894,338)
Common stock repurchases	(21,160)	(21,160)	$ (9)	(21,151)
Equity-based compensation (in shares)			5,599
Equity-based compensation, net	60	60		60
Distributions declared	(145,137)	(145,137)				(145,137)
Contributions from non-controlling interest holders	500						500
Unrealized gain on investments	(469)	(469)			(469)
Distributions to non-controlling interest holders	(698)						(698)
Net loss	(41,960)	(41,741)				(41,741)	(219)
Ending Balance (in shares) at Dec. 31, 2015			86,135,411
Ending Balance at Dec. 31, 2015	$ 1,601,817	1,592,120	$ 861	1,907,549	(6)	(316,284)	9,697
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued through distribution reinvestment plan (in shares)	3,200,000		3,234,746
Common stock issued through distribution reinvestment plan	$ 73,630	73,630	$ 33	73,597
Common stock repurchases (in shares)			(6,660)
Common stock repurchases	(170)	(170)		(170)
Equity-based compensation (in shares)			5,402
Equity-based compensation, net	160	160		160
Distributions declared	(149,416)	(149,416)				(149,416)
Unrealized gain on investments	6	6			6
Distributions to non-controlling interest holders	(731)						(731)
Net loss	(20,970)	(20,874)				(20,874)	(96)
Ending Balance (in shares) at Dec. 31, 2016			89,368,899
Ending Balance at Dec. 31, 2016	$ 1,504,326	$ 1,495,456	$ 894	$ 1,981,136	$ 0	$ (486,574)	$ 8,870

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Cash Flows [Abstract]
Net loss	$ (20,970)	$ (41,960)	$ (37,712)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	98,886	120,924	28,889
Amortization of deferred financing costs	4,523	3,737	1,313
Amortization of mortgage premiums and discounts, net	(1,937)	(1,933)	(689)
Amortization of market lease and other intangibles, net	168	(101)	638
Bad debt expense	15,425	7,291	0
Equity-based compensation	160	60	73
Gain on sale of investment securities	(56)	(446)	(8)
Gain on non-designated derivative instruments	(31)	0	0
Gain on sales of real estate investments, net	(941)	0	0
Changes in assets and liabilities:
Straight-line rent receivable	(8,210)	(12,535)	(2,208)
Prepaid expenses and other assets	(9,467)	(12,893)	(8,837)
Accounts payable, accrued expenses and other liabilities	545	5,203	10,877
Deferred rent	630	1,333	2,977
Restricted cash	685	(2,869)	(1,778)
Net cash provided by (used in) operating activities	79,410	65,811	(6,465)
Cash flows from investing activities:
Investments in real estate	(38,746)	(570,134)	(1,506,862)
Deposits returned (paid) for unconsummated acquisitions	0	1,000	(3,650)
Deposit received for unconsummated disposition	100	0	0
Capital expenditures	(7,476)	(6,885)	(807)
Purchases of investment securities	0	(93)	(20,328)
Proceeds from sales of investment securities	1,140	19,278	513
Proceeds from sales of real estate investments	25,890	0	0
Net cash used in investing activities	(19,092)	(556,834)	(1,531,134)
Cash flows from financing activities:
Proceeds from credit facilities	106,500	440,000	0
Repayments of credit facility borrowings	(55,000)	(10,000)	0
Payments on mortgage notes payable	(15,650)	(6,389)	(535)
Payments for undesignated derivative instruments	(30)	0	0
Payments of deferred financing costs	(3,040)	(13,283)	(5,408)
Proceeds from issuance of common stock	0	6	1,853,231
Common stock repurchases	(12,184)	(10,413)	(541)
Payments of offering costs and fees related to common stock issuances	0	(629)	(202,715)
Distributions paid	(75,432)	(66,214)	(35,165)
Contributions from non-controlling interest holders	0	500	0
Distributions to non-controlling interest holders	(731)	(698)	0
Payments to related parties	0	0	(484)
Net cash provided by (used in) financing activities	(55,567)	332,880	1,608,383
Net change in cash and cash equivalents	4,751	(158,143)	70,784
Cash and cash equivalents, beginning of period	24,474	182,617	111,833
Cash and cash equivalents, end of period	29,225	24,474	182,617
Supplemental disclosures of cash flow information:
Cash paid for interest	18,512	7,867	2,313
Cash paid for income taxes	339	374	601
Non-cash investing and financing activities:
Payable and accrued offering costs	0	0	631
Accrued repurchases included in accounts payable and accrued expenses	0	12,014	1,267
Assumption of mortgage notes payable used to acquire investments in real estate	0	100,058	66,321
Premiums and discounts on assumed mortgage notes payable	0	1,492	3,533
Liabilities assumed in real estate acquisitions	0	882	9,040
Common stock issued through distribution reinvestment plan	$ 73,630	$ 78,502	$ 41,580

Organization

Organization	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Healthcare Trust, Inc. (including, as required by context, Healthcare Trust Operating Partnership, L.P. (the "OP") and its subsidiaries, the "Company") invests in healthcare real estate, focusing on seniors housing and medical office buildings ("MOB"), located in the United States for investment purposes. As of December 31, 2016 , the Company owned 163 properties located in 29 states and comprised of 8.4 million rentable square feet. The Company, which was incorporated on October 15, 2012, is a Maryland corporation that elected and qualified to be taxed as a real estate investment trust for U.S. federal income tax purposes ("REIT") beginning with its taxable year ended December 31, 2013. Substantially all of the Company's business is conducted through the OP. In February 2013, the Company commenced its initial public offering (the "IPO") on a "reasonable best efforts" basis of up to $1.7 billion of common stock, $0.01 par value per share, at a price of $25.00 per share, subject to certain volume and other discounts. The Company closed its IPO in November 2014 and as of such date the Company had received cumulative proceeds of $2.0 billion from its IPO. As of December 31, 2016 , the Company has received total proceeds of $2.2 billion , net of shares repurchased under the Share Repurchase Program (as amended, the "SRP") (see Note 9 — Common Stock ) and including $195.0 million in proceeds received under the DRIP. In 2015, the Company’s board of directors (the "Board") determined that it was in the Company’s best interest to evaluate strategic alternatives, including a listing on a national securities exchange. In April 2016, the Board, led by its independent directors, announced that it had initiated a strategic review process (the "Strategic Review") to identify, examine, and consider a range of strategic alternatives available to the Company with the objective of maximizing shareholder value. The Board formed a special committee (the "Special Committee") to evaluate various options in connection with the Strategic Review. The Special Committee engaged Morgan Stanley & Co. LLC ("Morgan Stanley") and KeyBanc Capital Markets ("KeyBanc") as financial advisors, with Morgan Stanley as lead advisor. The Board also formed a separate special committee to address conflicts of interest. The Board retained Gibson, Dunn & Crutcher LLP ("Gibson") as special legal counsel in connection with the Strategic Review. On October 6, 2016, the Company announced that the Special Committee had concluded the Strategic Review and recommended that the Company continue to execute its business plan and focus on managing and strengthening its assets. On April 7, 2016 (the "NAV Pricing Date"), the Board approved an estimate of per share net asset value ("NAV"). Subsequent valuations will occur periodically, at the discretion of the Board, provided that such estimates will be made at least annually. Pursuant to the DRIP, the Company's stockholders can elect to reinvest distributions by purchasing shares of the Company's common stock. Prior to the NAV Pricing Date, the Company offered shares pursuant to the DRIP at $23.75 per share, which was 95% of the initial offering price of shares of common stock in the IPO. Effective April 7, 2016, the Company began offering shares pursuant to the DRIP at the then-current NAV approved by the Board (see Note 9 — Common Stock ). The Company has no employees. Healthcare Trust Advisors, LLC (the "Advisor") has been retained by the Company to manage the Company's affairs on a day-to-day basis. The Company has retained Healthcare Trust Properties, LLC (the "Property Manager") to serve as the Company's property manager. The Advisor and Property Manager are under common control with AR Global Investments, LLC (the successor business to AR Capital, LLC, "AR Global"), the parent of the Company's sponsor, American Realty Capital VII, LLC (the "Sponsor"), as a result of which they are related parties, and each have received or will receive compensation, fees and expense reimbursements from the Company for services related to managing its business. The Advisor, Healthcare Trust Special Limited Partnership, LLC (the "Special Limited Partner") and Property Manager also have received or will receive compensation, fees and expense reimbursements related to the investment and management of the Company's assets.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 — Summary of Significant Accounting Policies Basis of Accounting The accompanying consolidated financial statements of the Company are prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States ("GAAP"). Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation, including amounts within rental income, resident services and fee income, cash flows from operating activities and cash flows from financing. Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries and consolidated joint venture arrangements in which the Company has controlling financial interests. The portions of the consolidated joint venture arrangements not owned by the Company are presented as non-controlling interests as of and during the period consolidated. All inter-company accounts and transactions have been eliminated in consolidation. The Company evaluates its relationships and investments to determine if it has variable interests. A variable interest is an investment or other interest that will absorb portions of an entity's expected losses or receive portions of the entity's expected residual returns. If the Company determines that it has a variable interest in an entity, it evaluates whether such interest is in a variable interest entity ("VIE"). A VIE is broadly defined as an entity where either (1) the equity investors as a group, if any, lack the power through voting or similar rights to direct the activities of an entity that most significantly impact the entity's economic performance or (2) the equity investment at risk is insufficient to finance that entity's activities without additional subordinated financial support. The Company consolidates any VIEs when it is determined to be the primary beneficiary of the VIE's operations. A variable interest holder is considered to be the primary beneficiary of a VIE if it has the power to direct the activities of a VIE that most significantly impact the entity's economic performance and has the obligation to absorb losses of, or the right to receive benefits from, the entity that could potentially be significant to the VIE. The Company qualitatively assesses whether it is (or is not) the primary beneficiary of a VIE. Consideration of various factors include, but are not limited to, the Company's ability to direct the activities that most significantly impact the entity's economic performance, its form of ownership interest, its representation on the entity's governing body, the size and seniority of its investment, its ability and the rights of other investors to participate in policy making decisions and to replace the manager of and/or liquidate the entity. The Company continually evaluates the need to consolidate joint ventures based on standards set forth in GAAP. In determining whether the Company has a controlling interest in a joint venture and the requirement to consolidate the accounts of that entity, management considers factors such as ownership interest, power to make decisions and contractual and substantive participating rights of the partners/members as well as whether the entity is a VIE for which the Company is the primary beneficiary. The Company has determined the OP is a VIE of which the Company is the primary beneficiary. Substantially all of the Company's assets and liabilities are held by the OP. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management makes significant estimates regarding revenue recognition, purchase price allocations to record investments in real estate, real estate taxes, fair value measurements and income taxes, as applicable. Real Estate Investments Investments in real estate are recorded at cost. Improvements and replacements are capitalized when they extend the useful life or improve the productive capacity of the asset. Costs of repairs and maintenance are expensed as incurred. The Company evaluates the inputs, processes and outputs of each asset acquired to determine if the transaction is a business combination or asset acquisition. If an acquisition qualifies as a business combination, the related transaction costs are recorded as an expense in the consolidated statement of operations. If an acquisition qualifies as an asset acquisition, the related transaction costs are generally capitalized and subsequently amortized over the useful life of the acquired assets. In business combinations, the Company allocates the purchase price of acquired properties to tangible and identifiable intangible assets or liabilities based on their respective fair values. Tangible assets may include land, land improvements, buildings and fixtures. Intangible assets may include the value of in-place leases and above- and below-market leases and other identifiable intangible assets or liabilities based on lease or property specific characteristics. In addition, any assumed mortgages receivable or payable and any assumed or issued non-controlling interests are recorded at their estimated fair values. The Company generally determines the value of construction in progress based upon the replacement cost. During the construction period, we capitalize interest, insurance and real estate taxes until the development has reached substantial completion. The fair value of the tangible assets of an acquired property with an in-place operating lease is determined by valuing the property as if it were vacant, and the “as-if-vacant” value is then allocated to the tangible assets based on the fair value of the tangible assets. The fair value of in-place leases is determined by considering estimates of carrying costs during the expected lease-up periods, current market conditions, as well as costs to execute similar leases. The fair value of above- or below-market leases is recorded based on the present value of the difference between the contractual amount to be paid pursuant to the in-place lease and the Company’s estimate of the fair market lease rate for the corresponding in-place lease, measured over the remaining term of the lease including any below-market fixed rate renewal options for below-market leases. In making estimates of fair values for purposes of allocating purchase price, the Company utilizes a number of sources, including real estate valuations prepared by independent valuation firms. The Company also considers information and other factors including market conditions, the industry that the tenant operates in, characteristics of the real estate, i.e. location, size, demographics, value and comparative rental rates, tenant credit profile and the importance of the location of the real estate to the operations of the tenant’s business. In allocating the fair value to assumed mortgages, amounts are recorded to debt premiums or discounts based on the present value of the estimated cash flows, which is calculated to account for either above- or below-market interest rates. In allocating non-controlling interests, amounts are recorded based on the fair value of units issued or percentage of investment contributed at the date of acquisition, as determined by the terms of the applicable agreement. Real estate investments that are intended to be sold are designated as "held for sale" on the consolidated balance sheets at the lesser of carrying amount or fair value less estimated selling costs when they meet specific criteria to be presented as held for sale. Real estate investments are no longer depreciated when they are classified as held for sale. If the disposal, or intended disposal, of certain real estate investments represents a strategic shift that has had or will have a major effect on the Company's operations and financial results, the operations of such real estate investments would be presented as discontinued operations in the consolidated statements of operations and comprehensive loss for all applicable periods. There are no real estate investments held for sale as of December 31, 2016 and 2015 . Depreciation and Amortization Depreciation is computed using the straight-line method over the estimated useful lives of up to 40 years for buildings, 15 years for land improvements, five years for fixtures and improvements, and the shorter of the useful life or the remaining lease term for tenant improvements and leasehold interests. Construction in progress, including capitalized interest, insurance and real estate taxes, is not depreciated until the development has reached substantial completion. The assumed mortgage premiums or discounts are amortized as an increase or reduction to interest expense over the remaining term of the respective mortgages. Capitalized above-market lease values are amortized as a reduction of rental income over the remaining terms of the respective leases. Capitalized below-market lease values are accreted as an increase to rental income over the remaining terms of the respective leases and expected below-market renewal option periods. Capitalized above-market ground lease values are accreted as a reduction of property operating expense over the remaining terms of the respective leases. Capitalized below-market ground lease values are amortized as an increase to property operating expense over the remaining terms of the respective leases and expected below-market renewal option periods. The value of in-place leases, exclusive of the value of above-market and below-market in-place leases, is amortized to expense over the remaining periods of the respective leases. Impairment of Long Lived Assets If circumstances indicate that the carrying value of a property may not be recoverable, the Company reviews the asset for impairment. This review is based on an estimate of the future undiscounted cash flows, excluding interest charges, expected to result from the property’s use and eventual disposition. These estimates consider factors such as expected future operating income, market and other applicable trends and residual value, as well as the effects of leasing demand, competition and other factors. If impairment exists due to the inability to recover the carrying value of a property, an impairment loss is recorded to the extent that the carrying value exceeds the estimated fair value of the property for properties to be held and used. For properties held for sale, the impairment loss is the adjustment to fair value less estimated cost to dispose of the asset. Impairment assessments have a direct impact on net income because recording an impairment loss results in an immediate negative adjustment to net income. Cash and Cash Equivalents Cash and cash equivalents includes cash in bank accounts as well as investments in highly-liquid money market funds with original maturities of three months or less. As of December 31, 2016 and 2015 , approximately $10,000 and $22,000 was held in money market funds with the Company's financial institutions. The Company deposits cash with high quality financial institutions. These deposits are guaranteed by the Federal Deposit Insurance Company ("FDIC") up to an insurance limit. At December 31, 2016 and 2015 , the Company had deposits of $29.2 million and $24.5 million , of which $16.1 million and $12.2 million , respectively, were in excess of the amount insured by the FDIC. Although the Company bears risk to amounts in excess of those insured by the FDIC, it does not anticipate any losses as a result. Restricted Cash Restricted cash generally consists of resident security deposits and reserves related to real estate taxes, maintenance, structural improvements, and debt service. Investments in Securities The Company classifies its investments in debt or equity securities into one of three classes: held-to-maturity, available-for-sale or trading, as applicable. Investments in debt securities that the Company has the positive intent and ability to hold until maturity are classified as held-to-maturity and are reported at amortized cost. Debt and equity securities that are bought and held principally for the purposes of selling them in the near future are classified as trading securities. Debt and equity securities not classified as trading securities or as held-to-maturity securities are classified as available-for-sale securities and are reported at fair value, with unrealized holding gains and losses reported as a component of equity within accumulated other comprehensive income or loss. Gains or losses on securities sold are based on the specific identification method. The Company evaluates its investments in securities for impairment or other-than-temporary impairment on a quarterly basis. The Company reviews each investment individually and assesses factors that may include (i) if the carrying amount of an investment exceeds its fair value, (ii) if there has been any change in the market as a whole or in the investee’s market, (iii) if there are any plans to sell the investment in question or if the Company believes it may be forced to sell its investment, and (iv) if there have been any other factors that would indicate the possibility of the existence of an other-than-temporary impairment. The fair value of the Company’s investments in available-for-sale securities generally rise and fall based on current market conditions. If, after reviewing relevant factors surrounding an impaired security, the Company determines that it will not recover its full investment in an impaired security, the Company recognizes an other-than-temporary impairment charge in the consolidated statements of operations and comprehensive loss in the period in which the other-than-temporary impairment is determined, regardless of whether or not the Company plans to sell or believes it will be forced to sell the security in question. Deferred Costs, Net Deferred costs, net, consists of deferred financing costs and deferred leasing costs. Deferred financing costs represent commitment fees, legal fees, and other costs associated with obtaining commitments for financing. These costs are amortized over the terms of the respective financing agreements using the effective interest method and included in interest expense on the accompanying consolidated statements of operations and comprehensive loss. Unamortized deferred financing costs are expensed if the associated debt is refinanced or repaid before maturity. Costs incurred in seeking financial transactions that do not close are expensed in the period in which it is determined that the financing will not close. As of December 31, 2016 and 2015 , the Company had $10.7 million and $11.5 million of deferred financing costs, net of accumulated amortization of $6.7 million and $3.1 million , respectively. Deferred leasing costs, consisting primarily of lease commissions and professional fees incurred in connection with new leases, are deferred and amortized over the term of the lease. As of December 31, 2016 and 2015 , the Company had $1.4 million and $0.4 million in deferred leasing costs, net of accumulated amortization of $0.2 million and $0.1 million , respectively. Revenue Recognition The Company's rental income is primarily related to rent received from tenants in MOBs and triple-net leased healthcare facilities. Rent from tenants in the Company's MOB and triple-net leased healthcare facilities operating segments (as discussed below) is recorded in accordance with the terms of each lease on a straight-line basis over the initial term of the lease. Because many of the leases provide for rental increases at specified intervals, GAAP requires the Company to record a receivable, and include in revenues on a straight-line basis, unbilled rent receivables that the Company will only receive if the tenant makes all rent payments required through the expiration of the initial term of the lease. When the Company acquires a property, the acquisition date is considered to be the commencement date for purposes of this calculation. Cost recoveries from tenants are included in operating expense reimbursement in the period the related costs are incurred, as applicable. Resident services and fee income primarily relates to rent from residents in the Company's seniors housing — operating properties ("SHOP") held using a structure permitted by the REIT Investment Diversification and Empowerment Act of 2007 and to fees for ancillary services performed for SHOP residents. Rental income from residents in the Company's SHOP operating segment is recognized as earned. Residents pay monthly rent that covers occupancy of their unit and basic services, including utilities, meals and some housekeeping services. The terms of the rent are short term in nature, primarily month-to-month. Fees for ancillary services are recorded in the period in which the services are performed. The Company defers the revenue related to lease payments received from tenants and residents in advance of their due dates. The Company continually reviews receivables related to rent and unbilled rent receivables and determines collectability by taking into consideration the tenant's payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. In the event that the collectability of a receivable is in doubt, the Company records an increase in the allowance for uncollectible accounts on the consolidated balance sheets or records a direct write-off of the receivable in the consolidated statements of operations. Offering and Related Costs Offering and related costs include all expenses incurred in connection with the IPO. Offering costs of the Company (other than selling commissions and the dealer manager fee, as discussed in Note 10 — Related Party Transactions and Arrangements ) may be paid by the Advisor, the Former Dealer Manager or their affiliates on behalf of the Company. Offering and related costs included (i) legal, accounting, printing, mailing, and filing fees; (ii) escrow service related fees; (iii) reimbursement of the Former Dealer Manager for amounts it paid to reimburse the itemized and detailed due diligence expenses of broker-dealers; and (iv) reimbursement to the Advisor for a portion of the costs of its employees and other costs in connection with preparing supplemental sales materials and related offering activities. The Company was obligated to reimburse the Advisor or its affiliates, as applicable, for offering costs paid by them on behalf of the Company, provided that the Advisor was obligated to reimburse the Company to the extent offering costs (excluding selling commissions and the dealer manager fee) incurred by the Company in its offering exceed 2.0% of offering proceeds, net of repurchases and DRIP. As a result, these costs were only a liability of the Company to the extent aggregate selling commissions, the dealer manager fees and other organization and offering costs did not exceed 12.0% of the gross proceeds determined at the end of the IPO. As of the end of the IPO in November 2014, cumulative offering costs did not exceed 12.0% of the gross proceeds received in the IPO (See Note 10 — Related Party Transactions and Arrangements ). Equity-Based Compensation The Company has a stock-based incentive award plan for its directors, which is accounted for under the guidance of share based payments. The expense for such awards is included in general and administrative expenses and is recognized over the vesting period or when the requirements for exercise of the award have been met (See Note 12 — Equity-Based Compensation ). Income Taxes The Company elected and qualified to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986 (the "Code"), as amended, commencing with the taxable year ended December 31, 2013. If the Company continues to qualify for taxation as a REIT, it generally will not be subject to federal corporate income tax to the extent it distributes all of its REIT taxable income to its stockholders. REITs are subject to a number of organizational and operational requirements, including a requirement that the Company distribute annually at least 90% of the Company’s REIT taxable income to the Company’s stockholders. If the Company fails to continue to qualify as a REIT in any taxable year and does not qualify for certain statutory relief provisions, the Company will be subject to U.S. federal and state income taxes at regular corporate rates (including any applicable alternative minimum tax) beginning with the year in which it fails to qualify and may be precluded from being able to elect to be treated as a REIT for the Company’s four subsequent taxable years. The Company distributed to its stockholders 100% of its REIT taxable income for each of the years ended December 31, 2016 , 2015 and 2014 . Accordingly, no provision for federal or state income taxes related to such REIT taxable income was recorded in the Company's financial statements. Even if the Company continues to qualify for taxation as a REIT, it may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed income. Certain limitations are imposed on REITs with respect to the ownership and operation of seniors housing communities. Generally, to qualify as a REIT, the Company cannot directly or indirectly operate seniors housing communities. Instead, such facilities may be either leased to a third party operator or leased to a taxable REIT subsidiary (“TRS”) and operated by a third party on behalf of the TRS. Accordingly, the Company has formed a TRS entity under the OP to lease its SHOPs and the TRS has entered into management contracts with unaffiliated third party managers to operate the facilities on its behalf. As of December 31, 2016 , the Company, through its TRS entity, owned 38 seniors housing communities. The TRS entity is a wholly-owned subsidiary of the OP. A TRS is subject to federal, state and local income taxes. The Company records net deferred tax assets to the extent the Company believes these assets will more likely than not be realized. In making such determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent financial operations. In the event the Company determines that it would not be able to realize the deferred income tax assets in the future in excess of the net recorded amount, the Company establishes a valuation allowance which offsets the previously recognized income tax benefit. Deferred income taxes result from temporary differences between the carrying amounts of the TRS's assets and liabilities used for financial reporting purposes and the amounts used for income tax purposes. Significant components of the deferred tax assets and liabilities as of December 31, 2016 consisted of deferred rent and depreciation. As of December 31, 2016 , the Company had a deferred tax asset of $5.2 million with no valuation allowance. As of December 31, 2015 , the Company had a deferred tax asset of $2.9 million with no valuation allowance. The following table details the composition of the Company's tax benefit (expense) for the years ended December 31, 2016 , 2015 and 2014 , which includes federal and state income taxes incurred by the Company's TRS entity. The Company estimated its income tax benefit (expense) relating to its TRS entity using a combined federal and state rate of approximately 40.0% and 40.2% for the years ended December 31, 2016 and 2015 , respectively. These income taxes are reflected in income tax benefit (expense) on the accompanying consolidated statements of operations and comprehensive loss. Year Ended December 31, 2016 2015 2014 (In thousands) Current Deferred Current Deferred Current Deferred Federal benefit (expense) $ 2,103 $ (237 ) $ 1,667 $ 762 $ (450 ) $ — State benefit (expense) 308 (90 ) 358 191 (115 ) — Total $ 2,411 $ (327 ) $ 2,025 $ 953 $ (565 ) $ — As of December 31, 2016 and 2015 , the Company had no material uncertain income tax positions. The tax years subsequent to and including the fiscal year ended December 31, 2013 remain open to examination by the major taxing jurisdictions to which the Company is subject. The amount of distributions payable to the Company's stockholders is determined by the board of directors and is dependent on a number of factors, including funds available for distribution, financial condition, capital expenditure requirements, as applicable, and annual distribution requirements needed to qualify and maintain the Company's status as a REIT under the Code. The following table details from a tax perspective the portion of distributions classified as a return of capital, capital gain dividend income and ordinary dividend income, per share per annum, for the years ended December 31, 2016 , 2015 and 2014 : Year Ended December 31, 2016 2015 2014 Return of capital 86.8 % $ 1.47 97.9 % $ 1.66 93.7 % $ 1.59 Capital gain dividend income 0.5 % 0.01 0.3 % 0.01 — % — Ordinary dividend income 12.7 % 0.22 1.8 % 0.03 6.3 % 0.11 Total 100.0 % $ 1.70 100.0 % $ 1.70 100.0 % $ 1.70 Per Share Data Net income (loss) per basic share of common stock is calculated by dividing net income (loss) by the weighted-average number of shares of common stock issued and outstanding during such period. Diluted net income (loss) per share of common stock considers the effect of potentially dilutive shares of common stock outstanding during the period. Reportable Segments The Company has determined that it has three reportable segments, with activities related to investing in MOBs, triple-net leased healthcare facilities, and seniors housing communities. Management evaluates the operating performance of the Company's investments in real estate and seniors housing communities on an individual property level. Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued revised guidance relating to revenue recognition. Under the revised guidance, an entity is required to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The revised guidance was to become effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption was not permitted under GAAP. The revised guidance allows entities to apply the full retrospective or modified retrospective transition method upon adoption. In July 2015, the FASB deferred the effective date of the revised guidance by one year to annual reporting periods beginning after December 15, 2017, although entities will be allowed to early adopt the guidance as of the original effective date. The Company is evaluating the impact of the implementation of this guidance, including performing a preliminary review of all revenue streams to identify any differences in the timing, measurement or presentation of revenue recognition. The Company is continuing to evaluate the allowable methods of adoption. In January 2015, the FASB issued updated guidance that eliminates from GAAP the concept of an event or transaction that is unusual in nature and occurs infrequently being treated as an extraordinary item. The revised guidance is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Any amendments may be applied either prospectively or retrospectively to all prior periods presented in the financial statements. Early adoption was permitted provided that the guidance was applied from the beginning of the fiscal year of adoption. The Company elected to adopt this new guidance as of September 30, 2015. The adoption of this guidance did not have a material impact on the Company's financial position, results of operations and cash flows. In February 2015, the FASB amended the accounting for consolidation of certain legal entities. The amendments modify the evaluation of whether certain legal entities are VIEs or voting interest entities, eliminates the presumption that a general partner should consolidate a limited partnership and affect the consolidation analysis of reporting entities that are involved with VIEs (particularly those that have fee arrangements and related party relationships). The revised guidance is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption was permitted, including adoption in an interim period. The Company has elected to adopt this guidance effective January 1, 2016. The Company has evaluated the impact of the adoption of this new guidance on its consolidated financial statements and has determined that the OP is considered a VIE. However, the Company meets the disclosure exemption criteria as the Company is the primary beneficiary of the VIE and the Company’s partnership interest in a business and the assets of the OP can be used for purposes other than settling its obligations, such as paying distributions. As such, this standard did not have a material impact on the Company's consolidated financial statements. In April 2015, the FASB amended the presentation of debt issuance costs on the balance sheet. The amendment requires that debt issuance costs related to a recognized debt liability be presented on the balance sheet as a direct deduction from the carrying amount of that debt liability. In August 2015, the FASB added that, for line of credit arrangements, the SEC staff would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line, regardless of whether or not there are any outstanding borrowings. The revised guidance is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption was permitted for financial statements that have not previously been issued. The Company has elected to adopt this guidance effective January 1, 2016. The adoption of this revised guidance resulted in the reclassification of $2.0 million and $2.2 million of deferred financing costs related to the Company's mortgage notes payable from deferred costs, net to mortgage notes payable, net of deferred financing costs in the Company's consolidated balance sheets as of December 31, 2015. In September 2015, the FASB issued an update that eliminates the requirement to adjust provisional amounts from a business combination and the related impact on earnings by restating prior period financial statements for measurement period adjustments. The new guidance requires that the cumulative impact of measurement period adjustments on current and prior periods, including the prior period impact on depreciation, amortization and other income statement items and their related tax effects, shall be recognized in the period the adjustment amount is determined. The cumulative adjustment would be reflected within the respective financial statement line items affected. The revised guidance is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption was permitted. The Company elected to adopt this guidance as of September 30, 2015. The adoption of this guidance did not have a material impact to the Company's financial position, results of operations and cash flows. In January 2016, the FASB issued an update that amends the recognition and measurement of financial instruments. The new guidance revises an entity’s accounting related to equity investments and the presentation of certain fair value changes for financial liabilities measured at fair value. Among other things, it also amends the presentation and disclosure requirements associated with the fair value of financial instruments. The revised guidance is effective for fiscal years, and for interim periods within those

Real Estate Investments

Real Estate Investments	12 Months Ended
	Dec. 31, 2016
Real Estate Investments, Net [Abstract]
Real Estate Investments	Note 3 — Real Estate Investments The Company owned 163 properties as of December 31, 2016 . The Company invests in MOBs, seniors housing communities and other healthcare-related facilities primarily to expand and diversify its portfolio and revenue base. The rentable square feet or annualized straight-line rental income of Wellington at Hershey's Mill ("Wellington") and Renaissance on Peachtree ("Renaissance") represented 5% or more of the Company's total portfolio's rentable square feet or annualized straight-line rental income as of December 31, 2016 . On December 3, 2014, the Company, through a wholly owned subsidiary of the OP, completed the acquisition of the fee simple interest in Wellington, a seniors housing community located in West Chester, Pennsylvania. The seller of Wellington was First Somerset, LLC, which had no preexisting relationship with the Company. The contract purchase price of Wellington was $95.0 million and was funded with proceeds from the Company's IPO. The Company accounted for the purchase of Wellington as a business combination and incurred acquisition related costs of $2.7 million , which are reflected in the acquisition and transaction related line item of the consolidated statements of operations and comprehensive loss. On December 15, 2015, the Company, through a wholly owned subsidiary of the OP, completed the acquisition of the fee simple interest in Renaissance, a seniors housing community located in Atlanta, Georgia. The seller of Renaissance was CRP FDG Buckhead, L.L.C., which had no preexisting relationship with the Company. The contract purchase price of Renaissance was $78.6 million and was funded with proceeds from borrowings under the Company's senior secured credit facility (as amended, the "Revolving Credit Facility"). The Company accounted for the purchase of Renaissance as a business combination and incurred acquisition related costs of $1.3 million , which are reflected in the acquisition and transaction related line item of the consolidated statements of operations and comprehensive loss. The following table presents the allocation of the assets acquired and capitalized construction in progress during the year s ended December 31, 2016 , 2015 and 2014 : Year Ended December 31, (Dollar amounts in thousands) 2016 2015 2014 Real estate investments, at cost: Land $ — $ 79,329 $ 109,679 Buildings, fixtures and improvements — 519,185 1,325,721 Construction in progress 38,746 21,309 — Total tangible assets 38,746 619,823 1,435,400 Acquired intangible assets and liabilities: In-place leases — 62,584 145,464 Market lease and other intangible assets — 3,223 34,877 Market lease liabilities — (10,064 ) (19,837 ) Total assets and liabilities acquired, net 38,746 675,566 1,595,904 Mortgage notes payable assumed to acquire real estate investments — (100,058 ) (66,321 ) Premiums on mortgages assumed — (1,492 ) (3,533 ) Other assets and liabilities, net (1) — (882 ) (9,040 ) Deposits to acquire real estate investments — (3,000 ) — OP units issued to acquire real estate investments — — (10,148 ) Cash paid for acquired real estate investments $ 38,746 $ 570,134 $ 1,506,862 Number of properties purchased — 48 111 _______________ (1) Other assets and liabilities, net includes $0.9 million in tenant security deposits assumed at acquisition for properties acquired during the year ended December 31, 2015 . Other assets and liabilities, net includes $4.2 million in tenant security deposits assumed at acquisition for properties acquired and a $4.8 million capital lease obligation incurred in conjunction with the transaction described below during the year ended December 31, 2014 . During the year ended December 31, 2014, the Company acquired leasehold interests in eight properties and has accounted for such interests as capital leases. The Company allocated $144.4 million and $34.1 million of assets at cost associated with the building leasehold interests to buildings, fixtures and improvements and in-place leases, respectively, in the table above. Additionally, the Company entered into arrangements to sublease all or a portion of the eight properties back to the seller, and assumed in-place subleases with other third-party tenants. Future minimum base rental payments due to the Company under subleases to the seller and other third-party tenants as of December 31, 2016 totaled $119.3 million . See Note 17 — Commitments and Contingencies for minimum base cash rental payments due from the Company to the seller under these leasehold interests. The following table presents future minimum base rental cash payments due to the Company over the next five years and thereafter as of December 31, 2016 . These amounts exclude contingent rent payments, as applicable, that may be collected from certain tenants based on provisions related to performance thresholds and increases in annual rent based on exceeding certain economic indexes, among other items. (In thousands) Future Minimum 2017 $ 89,354 2018 85,075 2019 78,957 2020 73,650 2021 68,597 Thereafter 395,582 Total $ 791,215 As of December 31, 2016 , 2015 and 2014 , the Company did not have any tenants (including for this purpose, all affiliates of such tenants) whose annualized rental income on a straight-line basis represented 10% or greater of total annualized rental income for the portfolio on a straight-line basis. The following table lists the states where the Company had concentrations of properties where annualized rental income on a straight-line basis represented 10% or more of consolidated annualized rental income on a straight-line basis for all properties as of December 31, 2016 , 2015 and 2014 : December 31, State 2016 2015 2014 Florida 19.3% 18.6% 24.6% Georgia 10.2% * * Iowa 10.5% 10.1% 13.9% Pennsylvania 12.0% 11.4% 15.2% _______________ * State's annualized rental income on a straight-line basis was not greater than 10% of total annualized rental income for all portfolio properties as of the period specified. Intangible Assets and Liabilities Acquired intangible assets and liabilities consisted of the following as of the periods presented: December 31, 2016 December 31, 2015 (In thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets: In-place leases $ 195,940 $ 115,641 $ 80,299 $ 202,608 $ 82,390 $ 120,218 Intangible market lease assets 28,220 5,798 22,422 28,262 3,393 24,869 Other intangible assets 10,589 574 10,015 10,589 309 10,280 Total acquired intangible assets $ 234,749 $ 122,013 $ 112,736 $ 241,459 $ 86,092 $ 155,367 Intangible market lease liabilities $ 25,614 $ 5,427 $ 20,187 $ 25,613 $ 2,619 $ 22,994 The following table discloses amounts recognized within the consolidated statements of operations and comprehensive loss related to amortization of in-place leases and other intangible assets, amortization and accretion of above- and below-market lease assets and liabilities, net and the accretion of above-market ground leases, for the periods presented: Year Ended December 31, (In thousands) 2016 2015 2014 Amortization of in-place leases and other intangible assets (1) $ 38,754 $ 75,481 17,885 Amortization and (accretion) of above- and below-market leases, net (2) (209 ) (359 ) 604 Amortization of above- and below-market ground leases, net (3) 172 199 29 _______________ (1) Reflected within depreciation and amortization expense (2) Reflected within rental income (3) Reflected within property operating and maintenance expense The following table provides the projected amortization and property operating and maintenance expense and adjustments to revenues for the next five years: (In thousands) 2017 2018 2019 2020 2021 In-place lease assets $ 15,539 $ 13,280 $ 10,732 $ 8,795 $ 7,251 Other intangible assets 265 265 265 265 265 Total to be added to amortization expense $ 15,804 $ 13,545 $ 10,997 $ 9,060 $ 7,516 Above-market lease assets $ (1,877 ) $ (1,357 ) $ (1,068 ) $ (741 ) $ (532 ) Below-market lease liabilities 2,089 1,860 1,580 1,423 1,274 Total to be added to rental income $ 212 $ 503 $ 512 $ 682 $ 742 Below-market ground lease assets $ 212 $ 212 $ 212 $ 212 $ 212 Above-market ground lease liabilities (40 ) (40 ) (40 ) (40 ) (40 ) Total to be added to property operating and maintenance expense $ 172 $ 172 $ 172 $ 172 $ 172 Real Estate Sales During the year ended December 31, 2016 , the Company sold Gregory Ridge Living Center ("Gregory Ridge") and Parkway Health Care Center ("Parkway"), both located in Kansas City, Missouri, and sold Redwood Radiology and Outpatient Center ("Redwood Radiology"), located in Santa Rosa, California. The following table summarizes the three properties sold during the year ended December 31, 2016 . The Company did not sell any properties during the year s ended December 31, 2015 and 2014 . Property (In thousands) Disposition Date Contract Sale Price Gain (Impairment) on Sale, Net Gregory Ridge Living Center - Kansas City, MO June 1, 2016 $ 4,300 $ (126 ) Parkway Health Care Center - Kansas City, MO June 1, 2016 4,450 (263 ) Redwood Radiology and Outpatient Center - Santa Rosa, CA September 30, 2016 17,500 1,330 Total 26,250 $ 941 Less: disposal costs (360 ) Proceeds from sales of real estate investments $ 25,890 The disposals of Gregory Ridge, Parkway and Redwood Radiology did not represent a strategic shift that had a major effect on the Company’s operations and financial results. Accordingly, the results of operations of Gregory Ridge, Parkway and Redwood Radiology remain classified within continuing operations for all periods presented until the respective dates of disposal of Gregory Ridge, Parkway and Redwood Radiology.

Investment Securities

Investment Securities	12 Months Ended
	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Investment Securities	Note 4 — Investment Securities As of December 31, 2016 , the company had no investment securities. As of December 31, 2015 , the Company had investment securities with an aggregate fair value of $1.1 million . These investments were considered available-for-sale securities and, therefore, increases or decreases in the fair value of these investments were recorded in accumulated other comprehensive income as a component of equity on the consolidated balance sheets unless the securities were considered to be other than temporarily impaired, at which time the losses would be reclassified to expense. The following table details the unrealized gains and losses on investment securities as of December 31, 2015 : (In thousands) Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2015 Equity securities $ 1,084 $ 19 $ (25 ) $ 1,078 During the year ended December 31, 2016 , the Company sold its investments in preferred stock with a cost basis and sale price of $1.1 million , which resulted in a realized gain on sale of investment of $0.1 million . During the year ended December 31, 2015 , the Company sold certain of its investments in preferred stock, common stock, real estate income funds and its investment in a senior note with a cost basis of $18.8 million for $19.3 million , which resulted in a realized gain on sale of investment of $0.4 million .

Credit Facilities

Credit Facilities	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Credit Facilities	Note 5 — Credit Facilities Revolving Credit Facility On March 21, 2014, the Company entered into the senior secured Revolving Credit Facility in the amount of $50.0 million . On April 15, 2014 the amount available under the Revolving Credit Facility was increased to $200.0 million . The Revolving Credit Facility is secured by a pledged pool of eligible unencumbered real estate assets. On June 26, 2015, the Company entered into an amendment to the Revolving Credit Facility which, among other things, allowed for borrowings of up to $500.0 million . On July 31, 2015, the available borrowings were increased to $565.0 million . The Revolving Credit Facility also contains a sub-facility for letters of credit of up to $25.0 million . The Revolving Credit Facility contains an "accordion" feature to allow the Company, under certain circumstances, to increase the aggregate borrowings under the Revolving Credit Facility to a maximum of $750.0 million . The amendment to the Revolving Credit Facility included changes to amounts committed by each of the banks in the syndicate, which resulted in a write off of deferred financing costs of $0.5 million during the year ended December 31, 2015 . There were no such writeoffs of deferred financing costs during the years ended December 31, 2016 and 2014 . On February 24, 2017, the Company further amended its Revolving Credit Facility (the "February 2017 Credit Facility Amendment"), which, among other things, amended the method and inputs used in the calculation of certain financial covenants contained within the Revolving Credit Facility. The Company has the option, based upon its leverage, to have the Revolving Credit Facility priced at either: (a) LIBOR, plus an applicable margin that ranges from 1.60% to 2.20% ; or (b) the Base Rate, plus an applicable margin that ranges from 0.35% to 0.95% . The Base Rate is defined in the Revolving Credit Facility as the greater of (i) the fluctuating annual rate of interest announced from time to time by the lender as its “prime rate,” (ii) 0.5% above the federal funds effective rate, or (iii) the applicable one-month LIBOR plus 1.0% . The Revolving Credit Facility provides for monthly interest payments for each Base Rate loan and periodic payments for each LIBOR loan, based upon the applicable LIBOR loan period, with all principal outstanding being due on the maturity date of March 21, 2019. The Revolving Credit Facility may be prepaid at any time, in whole or in part, without premium or penalty (subject to standard breakage costs). In the event of a default, the lender has the right to terminate its obligations under the Revolving Credit Facility and to accelerate the payment on any unpaid principal amount of all outstanding loans. As of December 31, 2016 , the balance outstanding under the Revolving Credit Facility was $421.5 million , with an effective interest rate of 2.0% . The Company's unused borrowing capacity was $75.6 million , based on assets assigned to the Revolving Credit Facility as of December 31, 2016 . Availability of borrowings is based on a pool of eligible unencumbered real estate assets. There were $430.0 million in advances outstanding as of December 31, 2015 . The Revolving Credit Facility requires the Company to meet certain financial covenants. As of December 31, 2016 , giving effect to the February 2017 Credit Facility Amendment, the Company was in compliance with the financial covenants under the Revolving Credit Facility. Master Credit Facilities On October 31, 2016, the Company, through wholly-owned subsidiaries of the OP, entered into a master credit facility agreement (the “KeyBank Credit Agreement”) relating to a secured credit facility with KeyBank National Association (“KeyBank”) and a master credit facility agreement (the “Capital One Credit Agreement” and, together with the KeyBank Credit Agreement, the “Credit Agreements”) relating to a secured credit facility with Capital One Multifamily Finance, LLC (“Capital One”). The Credit Agreements and related loan documents were issued through Fannie Mae’s (“Lender”) Multifamily MBS program and assigned by Capital One and KeyBank to the Lender at closing. The secured credit facility with KeyBank (the “KeyBank Facility”) and the secured credit facility with Capital One (the “Capital One Facility”, and together with the KeyBank Facility, the “Fannie Credit Facilities”) each provide for an initial $30.0 million of advances. The Fannie Credit Facilities are secured by six unencumbered properties, in aggregate. The Company may request future advances under the Fannie Credit Facilities by borrowing against the value of the initial mortgaged properties, as described below, or by adding eligible properties to the collateral pool, subject to customary conditions, including satisfaction of minimum debt service coverage and maximum loan-to-value tests. The initial advances under the Fannie Credit Facilities will mature on November 1, 2026. Until December 1, 2016, borrowings under the KeyBank Facility and the Capital One Facility had initial interest rates of 3.15% and 3.156% , respectively, per annum. Beginning December 1, 2016, the annual interest rates under the Fannie Credit Facilities changed to vary on a monthly basis and are equal to the sum of the current One Month LIBOR and 2.62% , with a floor of 2.62% . “One Month LIBOR” means the London Inter-Bank Offered Rate for one month U.S. dollar-denominated deposits. Effective October 31, 2016, in conjunction with the execution of the Fannie Credit Facilities, the OP entered into two interest rate cap agreements (the "IR Caps") with an unrelated third party, which cap interest paid on amounts outstanding under the Fannie Credit Facilities to a maximum of 3.5% . The IR Caps terminate on November 1, 2019. The Credit Agreements require the Company to enter into replacement interest rate cap or swap agreements upon termination of the IR Caps, to the extent any variable rate loans are outstanding on the date of termination. The KeyBank Facility is initially secured by first-priority mortgages on four of the Company’s seniors housing properties located in Michigan, Missouri and Kansas. The Capital One Facility is initially secured by first-priority mortgages on two of the Company’s seniors housing properties located in Florida. Each of the security agreements securing the Fannie Credit Facilities are cross-defaulted and cross-collateralized with the other security agreements securing the Fannie Credit Facilities. The Fannie Credit Facilities are non-recourse, subject to standard “bad boy” carve-outs and environmental indemnities, which obligations are guaranteed by the OP on an unsecured basis. The initial advances under the Fannie Credit Facilities may not be prepaid until November 1, 2017, after which they may be prepaid in full or in part through July 31, 2026 with payment of a 1% prepayment premium, and may be freely prepaid in full or in part thereafter. The Credit Agreements provide for optional acceleration by Lender upon an event of default. The Credit Agreements contain customary events of default, including the breach of transfer prohibitions, principal or interest payment defaults and bankruptcy-related defaults. Upon an event of default under the Credit Agreements, payment of any unpaid amounts under the applicable Fannie Credit Facility may be accelerated by Lender and Lender may exercise its rights with respect to the applicable pool of seniors housing properties securing the Fannie Credit Facilities. As of December 31, 2016 , the balance outstanding under the Fannie Credit Facilities was $60.0 million , with an effective interest rate of 3.2% . The Company did not enter into the Credit Agreements until October 31, 2016, and as such there were no amounts outstanding as of December 31, 2015 .

Mortgage Notes Payable

Mortgage Notes Payable	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Mortgage Notes Payable	Note 6 — Mortgage Notes Payable The following table reflects the Company's mortgage notes payable as of December 31, 2016 and 2015 : Portfolio Encumbered Properties Outstanding Loan Amount as of December 31, Effective Interest Rate Interest Rate Maturity 2016 2015 (In thousands) (In thousands) Bowie Gateway Medical Center - Bowie, MD — $ — $ 5,969 6.18 % Fixed Sep. 2016 Medical Center of New Windsor - New Windsor, NY 1 8,602 8,720 6.39 % Fixed Sep. 2017 Plank Medical Center - Clifton Park, NY 1 3,414 3,461 6.39 % Fixed Sep. 2017 Cushing Center - Schenectady, NY — — 4,184 5.71 % Fixed Feb. 2016 Countryside Medical Arts - Safety Harbor, FL 1 5,904 5,992 6.07 % Fixed (1) Apr. 2019 St. Andrews Medical Park - Venice, FL 3 6,526 6,623 6.07 % Fixed (1) Apr. 2019 Campus at Crooks & Auburn Building C - Rochester Hills, MI — — 3,555 5.91 % Fixed Apr. 2016 Slingerlands Crossing Phase I - Bethlehem, NY 1 6,589 6,680 6.39 % Fixed Sep. 2017 Slingerlands Crossing Phase II - Bethlehem, NY 1 7,671 7,777 6.39 % Fixed Sep. 2017 Benedictine Cancer Center - Kingston, NY 1 6,719 6,811 6.39 % Fixed Sep. 2017 Aurora Healthcare Center Portfolio - WI 6 30,858 31,257 6.55 % Fixed Jan. 2018 Palm Valley Medical Plaza - Goodyear, AZ 1 3,428 3,525 4.21 % Fixed Jun. 2023 Medical Center V - Peoria, AZ 1 3,151 3,232 4.75 % Fixed Sep. 2023 Courtyard Fountains - Gresham, OR 1 24,820 24,999 3.82 % Fixed (2) Jan. 2020 Fox Ridge Bryant - Bryant, AR 1 7,698 7,825 3.98 % Fixed May 2047 Fox Ridge Chenal - Little Rock, AR 1 17,540 17,800 3.98 % Fixed May 2049 Fox Ridge North Little Rock - North Little Rock, AR 1 10,884 11,045 3.98 % Fixed May 2049 Gross mortgage notes payable 21 143,804 159,455 5.26 % (3) Deferred financing costs, net of accumulated amortization (1,516 ) (2,150 ) Mortgage notes payable, net of deferred financing costs $ 142,288 $ 157,305 _______________ (1) Fixed interest rate through May 10, 2017. Interest rate changes to variable rate starting in June 2017. (2) Interest only payments through July 1, 2016. Principal and interest payments began in August 2016. (3) Calculated on a weighted average basis for all mortgages outstanding as of December 31, 2016 . As of December 31, 2016 , the Company had pledged $261.8 million in real estate as collateral for these mortgage notes payable. This real estate is not available to satisfy other debts and obligations unless first satisfying the mortgage notes payable on the properties. Except as noted above, the Company makes payments of principal and interest on all of its mortgage notes payable on a monthly basis. The following table summarizes the scheduled aggregate principal payments on mortgage notes payable for the five years subsequent to December 31, 2016 : (In thousands) Future Principal Payments 2017 $ 34,832 2018 31,893 2019 13,324 2020 24,279 2021 892 Thereafter 38,584 Total $ 143,804 Some of the Company's mortgage note agreements require the compliance with certain property-level financial covenants including debt service coverage ratios. As of December 31, 2016 , the Company was in compliance with the financial covenants under its mortgage note agreements.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Note 7 — Fair Value of Financial Instruments GAAP establishes a hierarchy of valuation techniques based on the observability of inputs used in measuring financial instruments at fair value. GAAP establishes market-based or observable inputs as the preferred source of values, followed by valuation models using management assumptions in the absence of market inputs. The three levels of the hierarchy are described below: Level 1 — Quoted prices in active markets for identical assets and liabilities that the reporting entity has the ability to access at the measurement date. Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset and liability or can be corroborated with observable market data for substantially the entire contractual term of the asset or liability. Level 3 — Unobservable inputs that reflect the entity's own assumptions that market participants would use in the pricing of the asset or liability and are consequently not based on market activity, but rather through particular valuation techniques. The determination of where an asset or liability falls in the hierarchy requires significant judgment and considers factors specific to the asset or liability. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company evaluates its hierarchy disclosures each quarter and depending on various factors, it is possible that an asset or liability may be classified differently from quarter to quarter. However, the Company expects that changes in classifications between levels will be rare. Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with those derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by the Company and its counterparties. However, as of December 31, 2016 , the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of the Company's derivatives. As a result, the Company has determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. The valuation of derivative instruments is determined using a discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, as well as observable market-based inputs, including interest rate curves and implied volatilities. In addition, credit valuation adjustments, are incorporated into the fair values to account for the Company's potential nonperformance risk and the performance risk of the counterparties. As of December 31, 2015 , the Company had investments in redeemable preferred stock that were traded in active markets and therefore, due to the availability of quoted market prices in active markets, the Company has classified these investments as Level 1 in the fair value hierarchy. The following table presents information about the Company's assets measured at fair value on a recurring basis as of December 31, 2016 and 2015 , aggregated by the level in the fair value hierarchy within which those instruments fall. (In thousands) Quoted Prices in Active Markets Level 1 Significant Other Observable Inputs Level 2 Significant Unobservable Inputs Level 3 Total December 31, 2016 Interest rate caps $ — $ 61 $ — $ 61 December 31, 2015 Investment securities $ 1,078 $ — $ — $ 1,078 A review of the fair value hierarchy classification is conducted on a quarterly basis. Changes in the type of inputs may result in a reclassification for certain assets. There were no transfers between Level 1 and Level 2 of the fair value hierarchy during the year ended December 31, 2016 . The Company is required to disclose the fair value of financial instruments for which it is practicable to estimate that value. The fair values of short-term financial instruments such as cash and cash equivalents, restricted cash, straight-line rent receivable, net, prepaid expenses and other assets, deferred costs, net, accounts payable and accrued expenses, deferred rent and distributions payable approximate their carrying value on the consolidated balance sheets due to their short-term nature. The fair values of the Company's remaining financial instruments that are not reported at fair value on the consolidated balance sheets are reported below: Carrying Amount (1) at Fair Value at Carrying Amount (1) at Fair Value at (In thousands) Level December 31, December 31, December 31, December 31, Mortgage notes payable 3 $ 144,270 $ 144,261 $ 161,858 $ 162,654 Revolving Credit Facility 3 $ 421,500 $ 421,500 $ 430,000 $ 430,000 Fannie Credit Facilities 3 $ 60,000 $ 60,000 $ — $ — _______________________________ (1) Carrying value includes mortgage notes payable of $143.8 million and $159.5 million and mortgage premiums and discounts, net of $0.5 million and $2.4 million as of December 31, 2016 and December 31, 2015 , respectively. The fair value of the mortgage notes payable is estimated using a discounted cash flow analysis, based on the Advisor's experience with similar types of borrowing arrangements. Advances under the Revolving Credit Facility and the Fannie Credit Facilities are considered to be reported at fair value, because their interest rates vary with changes in LIBOR.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Note 8 — Derivatives and Hedging Activities Risk Management Objective of Using Derivatives The Company may use derivative financial instruments, including interest rate swaps, caps, collars, options, floors and other interest rate derivative contracts, to hedge all or a portion of the interest rate risk associated with its borrowings. The principal objective of such arrangements is to minimize the risks and/or costs associated with the Company's operating and financial structure. Additionally, in using interest rate derivatives, the Company aims to add stability to interest expense and to manage its exposure to interest rate movements. The Company does not intend to utilize derivatives for speculative purposes or purposes other than interest rate risk management. The use of derivative financial instruments carries certain risks, including the risk that the counterparties to these contractual arrangements are not able to perform under the agreements. To mitigate this risk, the Company only enters into derivative financial instruments with counterparties with high credit ratings and with major financial institutions with which the Company, and its affiliates, may also have other financial relationships. The Company does not anticipate that any of the counterparties will fail to meet their obligations. Derivatives Not Designated as Hedges These derivatives are used to manage the Company's exposure to interest rate movements, but do not meet the strict hedge accounting requirements to be classified as hedging instruments. Changes in the fair value of derivatives not designated as hedges under a qualifying hedging relationship are recorded directly to net income (loss) As of December 31, 2016 , the Company had the following outstanding interest rate derivatives that were not designated as a hedge of interest rate risk. The Company had not entered into any derivative contracts as of December 31, 2015 . December 31, 2016 Interest Rate Derivative Number of Instruments Notional Amount (In thousands) Interest rate caps 2 $ 30 The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the balance sheet as of December 31, 2016 . The Company had not entered into any derivative contracts as of December 31, 2015 . (In thousands) Balance Sheet Location December 31, 2016 Derivatives not designated as hedging instruments: Interest rate caps Non-designated derivatives assets, at fair value $ 61 Derivatives Designated as Hedges As of December 31, 2016 and 2015 , the Company did not have any outstanding interest rate derivatives that were designated as a hedge.

Common Stock

Common Stock	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Common Stock	Note 9 — Common Stock As of December 31, 2016 and 2015 , the Company had 89.4 million and 86.1 million shares of common stock outstanding, respectively, including unvested restricted shares and shares issued pursuant to the DRIP and had received total proceeds, net of shares repurchased under the SRP of $2.2 billion and $2.1 billion , respectively, including proceeds from shares issued pursuant to the DRIP. In April 2013, the Board authorized, and the Company declared, a distribution payable on a monthly basis to stockholders of record on a daily basis at a rate equal to $0.0046575343 per day, which is equivalent to $1.70 per annum, per share of common stock, which began in May 2013. In March 2016, the Board ratified the existing distribution amount equivalent to $1.70 per annum, and, for calendar year 2016, affirmed a change to the daily distribution payable to stockholders of record each day during the applicable period to $0.0046448087 per day per share of common stock to accurately reflect that 2016 is a leap year. Distributions are payable by the 5th day following each month end to stockholders of record at the close of business each day during the prior month. Distribution payments are dependent on the availability of funds. The Board may reduce the amount of distributions paid or suspend distribution payments at any time and therefore distribution payments are not assured. Share Repurchase Program The Board has adopted the SRP, which enables stockholders to sell their shares to the Company in limited circumstances. The SRP permits investors to sell their shares back to the Company after they have held them for at least one year, subject to the significant conditions and limitations described below. Prior to the time that the Company’s shares are listed on a national securities exchange and until the NAV Pricing Date (other than with respect to a repurchase request that was made in connection with a stockholder's death or disability), the repurchase price per share depended on the length of time investors held such shares, as follows: after one year from the purchase date — the lower of $23.13 or 92.5% of the amount they actually paid for each share; after two years from the purchase date — the lower of $23.75 or 95.0% of the amount they actually paid for each share; after three years from the purchase date — the lower of $24.38 or 97.5% of the amount they actually paid for each share; and after four years from the purchase date — the lower of $25.00 or 100.0% of the amount they actually paid for each share (in each case, as adjusted for any stock distributions, combinations, splits and recapitalizations). In cases of requests for death and disability, the repurchase price was be equal to the price actually paid for each share. In accordance with the First SRP Amendment (described below) and beginning with the NAV Pricing Date, the price per share that the Company will pay to repurchase its shares will be equal to its NAV multiplied by a percentage equal to (i) 92.5% , if the person seeking repurchase has held his or her shares for a period greater than one year and less than two years; (ii) 95.0% , if the person seeking repurchase has held his or her shares for a period greater than two years and less than three years; (iii) 97.5% , if the person seeking repurchase has held his or her shares for a period greater than three years and less than four years; or (iv) 100.0% , if the person seeking repurchase has held his or her shares for a period greater than four years. In cases of requests for death and disability, the repurchase prices will be equal to NAV at the time of repurchase. Subject to limited exceptions, stockholders who redeem their shares of our common stock within the first four months from the date of purchase will be subject to a short-term trading fee of 2% of the aggregate NAV per share of the shares of common stock received. Repurchases of shares of the Company's common stock, when requested, are at the sole discretion of the Board. Until the First SRP Amendment (described below), the Company limited the number of shares repurchased during any calendar year to 5% of the weighted average number of shares of common stock outstanding on December 31st of the previous calendar year. In addition, the Company was only authorized to repurchase shares in a given quarter up to the amount of proceeds received from its DRIP in that same quarter. On January 26, 2016, the Board approved and amended the SRP (the "First SRP Amendment") to supersede and replace the existing SRP. Under the First SRP Amendment, repurchases of shares of the Company's common stock, when requested, are at the sole discretion of the Board and generally will be made semiannually (each six-month period ending June 30 or December 31, a “fiscal semester”). Repurchases for any fiscal semester will be limited to a maximum of 2.5% of the weighted average number of shares of common stock outstanding during the previous fiscal year (the "Prior Year Outstanding Shares"), with a maximum for any fiscal year of 5.0% of the Prior Year Outstanding Shares. In addition, the Company is only authorized to repurchase shares in a given fiscal semester up to the amount of proceeds received from its DRIP in that same fiscal semester. If the NAV Pricing Date occurs during any fiscal semester, any repurchase requests received during such fiscal semester will be paid at the applicable NAV then in effect. On June 28, 2016, the Board further amended the Company’s SRP (the "Second SRP Amendment") to provide for one twelve-month repurchase period for calendar year 2016 (the “2016 Repurchase Period”) instead of two semi-annual periods ending June 30 and December 31. The annual limit on repurchases under the SRP remained unchanged and continues to be limited to a maximum of 5.0% of the Prior Year Outstanding Shares and is subject to the terms and limitations set forth in the SRP. Accordingly, the 2016 Repurchase Period is limited to a maximum of 5.0% of the Prior Year Outstanding Shares and continues to be subject to the terms and conditions set forth in the SRP, as amended. Following calendar year 2016, the repurchase periods will return to two semi-annual periods and applicable limitations set forth in the SRP. The Second SRP Amendment also provides, for calendar year 2016 only, that any amendments, suspensions or terminations of the SRP become effective on the day following the Company’s public announcement of such amendments, suspension or termination. The Second SRP Amendment became effective on July 30, 2016 and only applies to repurchase periods in calendar year 2016. On January 25, 2017, the Board further amended the Company’s SRP (the "Third SRP Amendment") changing the date on which any repurchases are to be made in respect of requests made during the calendar year 2016 to no later than March 15, 2017, rather than on or before the 31st day following December 31, 2016. All other terms of the SRP remain in effect, including that repurchases pursuant to the SRP are at the sole discretion of the Board. When a stockholder requests redemption and the redemption is approved by the Board, the Company will reclassify such obligation from equity to a liability based on the settlement value of the obligation. Shares purchased under the SRP will have the status of authorized but unissued shares. The following table reflects the number of shares repurchased cumulatively through December 31, 2016 : Number of Shares Repurchased Average Price per Share Cumulative repurchases as of December 31, 2015 (1) 968,370 $ 23.72 Year ended December 31, 2016 (2) 6,660 24.36 Cumulative repurchases as of December 31, 2016 (2) 975,030 $ 23.73 _____________________________ (1) Excludes rejected repurchases of 201,367 shares for $4.6 million at an average price per share of $23.04 , which were unfulfilled as of December 31, 2015. (2) As permitted under the SRP, in March 2017, the Company's board of directors authorized, with respect to repurchase requests received during the year ended December 31, 2016 , the repurchase of shares validly submitted for repurchase in an amount equal to 1.5% of the weighted average number of shares of common stock outstanding during the fiscal year ended December 31, 2015 , representing less than all the shares validly submitted for repurchase during the year ended December 31, 2016 . Accordingly, 1.3 million shares for $27.5 million at an average price per share of $21.61 (including all shares submitted for death or disability) were approved for repurchase, with repurchases to be completed in March 2017 , while repurchase requests of 2.3 million shares for $48.7 million at an average price per share of $21.27 were rejected. Repurchases completed during the year ended December 31, 2016 include 6,660 shares which represent unaccrued repurchases for the year ended December 31, 2015 that were finalized in January 2016. Distribution Reinvestment Plan Pursuant to the DRIP, stockholders may elect to reinvest distributions by purchasing shares of common stock in lieu of receiving cash. No dealer manager fees or selling commissions are paid with respect to shares purchased under the DRIP. The shares purchased pursuant to the DRIP have the same rights and are treated in the same manner as the shares issued pursuant to the IPO. The Board may designate that certain cash or other distributions be excluded from reinvestment pursuant to the DRIP. The Company has the right to amend any aspect of the DRIP or terminate the DRIP with ten days' notice to participants. Shares issued under the DRIP are recorded as equity in the accompanying consolidated balance sheet in the period distributions are declared. During the year s ended December 31, 2016 and 2015 , the Company issued 3.2 million and 3.3 million shares of common stock pursuant to the DRIP, generating aggregate proceeds of $73.6 million and $78.5 million , respectively. Note 13 — Accumulated Other Comprehensive Income (Loss) The following table illustrates the changes in accumulated other comprehensive income (loss) as of and for the period presented: (In thousands) Unrealized Gains (Losses) on Available-for-Sale Securities Balance, December 31, 2013 $ — Other comprehensive income, before reclassifications 471 Amounts reclassified from accumulated other comprehensive income (1) (8 ) Balance, December 31, 2014 463 Other comprehensive loss, before reclassifications (23 ) Amounts reclassified from accumulated other comprehensive income (1) (446 ) Balance, December 31, 2015 (6 ) Other comprehensive income, before reclassifications 62 Amounts reclassified from accumulated other comprehensive income (1) (56 ) Balance, December 31, 2016 $ — __________________ (1) During the year s ended December 31, 2016 , 2015 and 2014 , the Company sold its investments in securities, resulting in realized gains of $0.1 million , $0.4 million and approximately $8,000 , which are included in gain on sale of investment securities on the consolidated statement of operations and comprehensive loss.

Related Party Transactions and

Related Party Transactions and Arrangements	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions and Arrangements	Note 10 — Related Party Transactions and Arrangements As of December 31, 2016 and 2015 , the Special Limited Partner owned 8,888 shares of the Company's outstanding common stock. The Advisor and its affiliates may incur and pay costs and fees on behalf of the Company. Realty Capital Securities, LLC (the "Former Dealer Manager") served as the dealer manager of the IPO. American National Stock Transfer, LLC ("ANST"), a subsidiary of the parent company of the Former Dealer Manager, provided other general professional services through January 2016. RCS Capital Corporation ("RCAP"), the parent company of the Former Dealer Manager and certain of its affiliates that provided the Company with services, filed for Chapter 11 bankruptcy protection in January 2016, prior to which it was also under common control with AR Global, the parent of the Company's Sponsor. In May 2016, RCAP and its affiliated debtors emerged from bankruptcy under the new name Aretec Group, Inc. On March 8, 2017, the creditor trust established in connection with the RCAP bankruptcy filed suit against AR Global, the Advisor, advisors of other entities sponsored by AR Global, and AR Global’s principals (including Mr. Weil). The suit alleges, among other things, certain breaches of duties to RCAP. The Company is not named in the suit, nor are there any allegations related to the services the Advisor provides to the Company. The Advisor has informed the Company that it believes that the suit is without merit and intends to defend against it vigorously. On January 14, 2015, the Company purchased the Specialty Hospital portfolio from American Realty Capital Healthcare Trust, Inc. ("HCT") for a contract purchase price of $39.4 million . At the time of such purchase, the Sponsor and the Advisor and the sponsor and advisor of HCT were under common control. The limited partnership agreement of the OP provides for a special allocation, solely for tax purposes, of excess depreciation deductions of up to $10.0 million to the Company's Advisor, a limited partner of the OP. In connection with this special allocation, the Company's Advisor has agreed to restore a deficit balance in its capital account in the event of a liquidation of the OP and has agreed to provide a guaranty or indemnity of indebtedness of the OP. Fees Paid in Connection with the IPO The Former Dealer Manager was paid fees in connection with the sale of the Company's common stock in the IPO. The Company paid the Former Dealer Manager a selling commission of up to 7.0% of the per share purchase price of offering proceeds before reallowance of commissions earned by participating broker-dealers. In addition, the Company paid the Former Dealer Manager up to 3.0% of the gross proceeds from the sale of shares, before reallowance to participating broker-dealers, as a dealer manager fee. The Former Dealer Manager was permitted to reallow its dealer manager fee to participating broker-dealers. A participating broker-dealer could elect to receive a fee equal to 7.5% of the gross proceeds from the sale of shares by such participating broker-dealer, with 2.5% thereof paid at the time of such sale and 1.0% thereof paid on each anniversary of the closing of such sale up to and including the fifth anniversary of the closing of such sale. If this option had been elected, the dealer manager fee would have been reduced to 2.5% of gross proceeds. During the year ended December 31, 2014 , the Company incurred $175.6 million in commissions and fees to the Former Dealer Manager in connection with the sale of the Company's common stock in the IPO. During the year ended December 31, 2015 , the Company received approximately $2,000 from the Former Dealer Manager for an unconsummated share transaction. The Company did not incur any commissions or fees to the Former Dealer Manager in connection with the sale of the Company's common stock in the IPO during the year ended December 31, 2016 . The Company did not have any amounts outstanding to the Former Dealer Manager for commissions and fees in connection with the sale of the Company's common stock in the IPO as of December 31, 2016 or 2015 . The Advisor and its affiliates received compensation and reimbursement for services provided in relation to the IPO. The Former Dealer Manager and its affiliates also received compensation and reimbursement for services in relation to the IPO, including transfer agent services which were provided by ANST. All offering costs incurred by the Company or its affiliated entities on behalf of the Company were charged to additional paid-in capital on the accompanying balance sheet during the IPO. The Company incurred charges or reimbursements of $21.8 million from the Advisor and $3.3 million from the Former Dealer Manager for services relating to the IPO during the year ended December 31, 2014 . The Company did not incur any charges or reimbursements for services relating to the IPO from the Advisor or any of its affiliates during the year s ended December 31, 2016 and 2015 . The Company did not have any amounts outstanding to the Advisor or any of its affiliates for charges or reimbursements for services relating to the IPO as of December 31, 2016 and 2015 . The Company was responsible for paying offering and related costs from the IPO, excluding commissions and dealer manager fees, up to a maximum of 2.0% of gross proceeds received from the IPO, measured at the end of the IPO. Offering costs, excluding selling commissions and dealer manager fees, in excess of the 2.0% cap as of the end of the IPO were to be the Advisor's responsibility. As of the end of the IPO, offering and related costs, excluding selling commissions and dealer manager fees, did not exceed 2.0% of gross proceeds received from the IPO. Our advisory agreement provides that this 2.0% cap would apply in any offering and sale of shares pursuant to an effective registration statement filed under the Securities Act of 1933, as amended. In aggregate, offering costs including selling commissions and dealer manager fees were the Company's responsibility up to a maximum of 12.0% of the gross proceeds received from the IPO as determined at the end of the IPO. As of the end of the IPO in November 2014, offering costs were less than 12.0% of the gross proceeds received in the IPO. Fees Paid in Connection With the Operations of the Company On February 17, 2017, the members of a special committee of the Board unanimously approved certain amendments to the Amended and Restated Advisory Agreement, as amended (the "Original A&R Advisory Agreement"), by and among the Company, the OP and the Advisor (the "Second A&R Advisory Agreement"). The Second A&R Advisory Agreement, which superseded the Original A&R Advisory Agreement, took effect on February 17, 2017. The initial term of the Second A&R Advisory Agreement is ten years beginning on February 17, 2017, and is automatically renewable for another ten -year term upon each ten-year anniversary unless the agreement is terminated (i) with notice of an election not to renew at least 365 days prior to the applicable tenth anniversary, (ii) in accordance with a change in control or a transition to self-management (see the section entitled "Termination Fees" included within this footnote), (iii) by 67% of the independent directors of the board of directors for with cause, without penalty, with 45 days notice or (iv) with 60 days prior written notice by the Advisor for (a) a failure to obtain a satisfactory agreement for any successor to the Company to assume and agree to perform obligations under the Second A&R Advisory Agreement or (b) any material breach of the Second A&R Advisory Agreement of any nature whatsoever by the Company. Acquisition Fees The Advisor was paid an acquisition fee equal to 1.0% of the contract purchase price of each acquired property and 1.0% of the amount advanced for a loan or other investment. The Advisor was also reimbursed for services provided for which it incurs investment-related expenses, or insourced expenses. The amount reimbursed for insourced expenses may not exceed 0.5% of the contract purchase price of each acquired property or 0.5% of the amount advanced for a loan or other investment. Additionally, the Company reimbursed the Advisor for third party acquisition expenses. The aggregate amount of acquisition fees and financing coordination fees (as described below) may not exceed 1.5% of the contract purchase price and the amount advanced for a loan or other investment for all the assets acquired. As of December 31, 2016 , aggregate acquisition fees and financing fees did not exceed the 1.5% threshold. In no event will the total of all acquisition fees, acquisition expenses and any financing coordination fees payable with respect to the Company's portfolio of investments or reinvestments exceed 4.5% of the contract purchase price of the Company's portfolio to be measured at the close of the acquisition phase or 4.5% of the amount advanced for all loans or other investments. As of December 31, 2016 , the total of all cumulative acquisition fees, acquisition expenses and financing coordination fees did not exceed the 4.5% threshold. With the execution of the Second A&R Advisory Agreement, the acquisition fee was terminated, however the Advisor may continue to be reimbursed for services provided for which it incurs investment-related expenses, or insourced expenses. The amount reimbursed for insourced expenses may not exceed 0.5% of the contract purchase price of each acquired property or 0.5% of the amount advanced for a loan or other investment. Additionally, the Company reimburses the Advisor for third party acquisition expenses. Financing Coordination Fees If the Advisor provided services in connection with the origination or refinancing of any debt that the Company obtained and used to acquire properties or to make other permitted investments, or that was assumed, directly or indirectly, in connection with the acquisition of properties, the Company paid the Advisor a financing coordination fee equal to 0.75% of the amount available and/or outstanding under such financing, subject to certain limitations. The execution of the Second A&R Advisory Agreement terminated the financing coordination fee. Asset Management Fees and Variable Management/Incentive Fees Until March 31, 2015, for its asset management services, the Company issued the Advisor an asset management subordinated participation by causing the OP to issue (subject to periodic approval by the Board) to the Advisor performance-based restricted, forfeitable partnership units of the OP designated as "Class B Units." The Class B Units were intended to be profit interests and vest, and are no longer subject to forfeiture, at such time as: (x) the value of the OP's assets plus all distributions made equals or exceeds the total amount of capital contributed by investors plus a 6.0% cumulative, pre-tax, non-compounded annual return thereon (the "economic hurdle"); (y) any one of the following occurs: (1) a listing; (2) an other liquidity event or (3) the termination of the advisory agreement by an affirmative vote of a majority of the Company's independent directors without cause; and (z) the Advisor is still providing advisory services to the Company (the "performance condition"). Unvested Class B Units will be forfeited immediately if: (a) the advisory agreement is terminated for any reason other than a termination without cause; or (b) the advisory agreement is terminated by an affirmative vote of a majority of the Company's independent directors without cause before the economic hurdle has been met. When approved by the Board, the Class B Units were issued to the Advisor quarterly in arrears pursuant to the terms of the limited partnership agreement of the OP. The number of Class B Units issued in any quarter was equal to: (i) the excess of (A) the product of (y) the cost of assets multiplied by (z) 0.1875% over (B) any amounts payable as an oversight fee (as described below) for such calendar quarter; divided by (ii) the value of one share of common stock as of the last day of such calendar quarter, which is equal initially to $22.50 (the IPO price minus the selling commissions and dealer manager fees). The value of issued Class B Units will be determined and expensed when the Company deems the achievement of the performance condition to be probable. As of December 31, 2016 , the Company cannot determine the probability of achieving the performance condition. The Advisor receives distributions on vested and unvested Class B Units equal to the distribution rate received on the Company's common stock. Such distributions on issued Class B Units are included in general and administrative expenses in the consolidated statement of operations and comprehensive loss until the performance condition is considered probable to occur. As of December 31, 2016 , the Board had approved the issuance of 359,250 Class B Units to the Advisor in connection with this arrangement. On May 12, 2015, the Company, the OP and the Advisor entered into an amendment (the “Amendment”) to the advisory agreement, which, among other things, provided that the Company would cease causing the OP to issue Class B Units in the OP to the Advisor or its assignees related to any period ending after March 31, 2015. Effective April 1, 2015, the Company began paying an asset management fee to the Advisor or its assignees as compensation for services rendered in connection with the management of the Company’s assets. The asset management fee was payable on the first business day of each month in the amount of 0.0625% multiplied by the lesser of (a) cost of assets or (b) fair value of assets for the preceding monthly period. The asset management fee was payable to the Advisor or its assignees in cash, in shares, or a combination of both, the form of payment to be determined in the sole discretion of the Advisor. For the purposes of the payment of any fees in shares (a) prior to the NAV Pricing Date, each share was valued at $22.50 , (b) after the NAV Pricing Date and prior to any listing on a national securities exchange, if it occurs, each share was valued at the then-current NAV per share and (c) at all other times, each share shall be valued by the Board in good faith at the fair market value. Effective February 17, 2017, the Second A&R Advisory Agreement requires the Company to pay the Advisor a base management fee, which is payable on the first business day of each month. The fixed portion of the base management fee is equal to $1.625 million per month, while the variable portion of the base management fee is equal to one-twelfth of 1.25% of the cumulative net proceeds of any equity (including convertible debt) raised subsequent to February 17, 2017 per month. The base management fee is payable to the Advisor or its assignees in cash, OP Units or shares, or a combination thereof, the form of payment to be determined at the discretion of the Advisor. In addition, the Second A&R Advisory Agreement requires the Company to pay the Advisor a variable management/incentive fee quarterly in arrears equal to (x) 15.0% of the applicable prior quarter's Core Earnings (as defined below) per share in excess of $0.375 per share plus (y) 10.0% of the applicable prior quarter's Core Earnings per share in excess of $0.47 per share. Core Earnings is defined as, for the applicable period, net income or loss, computed in accordance with GAAP, excluding non-cash equity compensation expense, the variable management/incentive fee, acquisition and transaction related fees and expenses, financing related fees and expenses, depreciation and amortization, realized gains and losses on the sale of assets, any unrealized gains or losses or other non-cash items recorded in net income or loss for the applicable period, regardless of whether such items are included in other comprehensive income or loss, or in net income, one-time events pursuant to changes in GAAP and certain non-cash charges, impairment losses on real estate related investments and other than temporary impairments of securities, amortization of deferred financing costs, amortization of tenant inducements, amortization of straight-line rent and any associated bad debt reserves, amortization of market lease intangibles, provision for loss loans, and other non-recurring revenue and expenses. The variable management/incentive fee is payable to the Advisor or its assignees in cash or shares, or a combination of both, the form of payment to be determined in the sole discretion of the Advisor. Property Management Fees Unless the Company contracts with a third party, the Company pays the Property Manager a property management fee of 1.5% of gross revenues from the Company's stand-alone single-tenant net leased properties and 2.5% of gross revenues from all other types of properties, respectively. The Company also reimburses the Property Manager for property level expenses. If the Company contracts directly with third parties for such services, the Company will pay them customary market fees and will pay the Property Manager an oversight fee of up to 1.0% of the gross revenues of the property managed. In no event will the Company pay the Property Manager or any affiliate of the Property Manager both a property management fee and an oversight fee with respect to any particular property. On February 17, 2017, the Company entered into the Amended and Restated Property Management and Leasing Agreement (the “A&R Property Management Agreement”) with the OP and the Property Manager. The A&R Property Management Agreement was entered into to reflect amendments to the original agreement between the parties and further amends the original agreement by extending the term of the agreement from one to two years, until February 15, 2019. The A&R Property Management Agreement will automatically renew for successive one-year terms unless any party provides written notice of its intention to terminate the A&R Property Management Agreement at least ninety days prior to the end of the term. The Property Manager may assign the A&R Property Management Agreement to any party with expertise in commercial real estate which has, together with its affiliates, over $100.0 million in assets under management. Other Operating Fees and Reimbursements Effective June 1, 2013, the Company entered into an agreement with the Former Dealer Manager to provide strategic advisory services and investment banking services required in the ordinary course of the Company's business, such as performing financial analysis, evaluating publicly traded comparable companies and assisting in developing a portfolio composition strategy, a capitalization structure to optimize future liquidity options and structuring operations. Strategic advisory fees were amortized over the estimated remaining term of the IPO and, as such, were fully amortized as of December 31, 2014. The Former Dealer Manager and its affiliates also previously provided transfer agency services, as well as transaction management and other professional services. These fees were included in general and administrative expenses in the accompanying consolidated statement of operations and comprehensive loss. The following table details amounts incurred, forgiven and payable in connection with the Company's operations-related services described above as of and for the periods presented: Year Ended December 31, Payable (Receivable) as of 2016 2015 2014 December 31, (In thousands) Incurred Forgiven Incurred Forgiven Incurred Forgiven 2016 2015 One-time fees and reimbursements: Acquisition fees $ — $ — $ 6,878 $ — $ 15,936 $ — $ — $ — Acquisition cost reimbursements — — 3,439 — 7,968 — — — Financing coordination fees 450 — 3,863 — 1,997 — — — Ongoing fees and reimbursements: Asset management fees (1) 17,566 — 10,889 — — — — (5 ) Property management fees 3,017 — 1,302 1,220 — 617 (163 ) (10 ) Professional fees and reimbursements 4,492 — 4,558 — 364 — 1,025 499 Strategic advisory fees — — — — 605 — — — Distributions on Class B Units 611 — 490 — 47 — — 52 Total related party operation fees and reimbursements $ 26,136 $ — $ 31,419 $ 1,220 $ 26,917 $ 617 $ 862 $ 536 _______________ (1) Prior to April 1, 2015, the Company caused the OP to issue (subject to periodic approval by the Board) to the Advisor restricted performance based Class B Units for asset management services. As of December 31, 2016 , the Board had approved the issuance of 359,250 Class B Units to the Advisor in connection with this arrangement. Effective April 1, 2015, in connection with the Amendment, the Company began paying an asset management fee to the Advisor or its assignees in cash, in shares, or a combination of both and no longer issues any Class B Units. The Company reimburses the Advisor's costs of providing administrative services, subject to the limitation that the Company did not reimburse the Advisor for any amount by which the Company's operating expenses at the end of the four preceding fiscal quarters exceeded the greater of (a) 2.0% of average invested assets and (b) 25.0% of net income other than any additions to reserves for depreciation, bad debt or other similar non-cash expenses and excluding any gain from the sale of assets for that period (the "2%/25% Limitation"), unless the Company's independent directors determined that such excess was justified based on unusual and nonrecurring factors which they deemed sufficient, in which case the excess amount could be reimbursed to the Advisor in subsequent periods. Additionally, the Company reimburses the Advisor for personnel costs; however, the Company may not reimburse the Advisor for personnel costs in connection with services for which the Advisor receives acquisition fees, acquisition expenses or real estate commissions or for persons serving as executive officers of the Company. The 2%/25% Limitation was removed from the advisory agreement in connection with the amendment and restatement of to the advisory agreement in June 2015. During the year s ended December 31, 2016 and 2015 , the Company paid reimbursements for administrative services of $4.0 million and $0.9 million , respectively. The Company did no t pay any reimbursements for administrative services for the year ended December 31, 2014 . In order to improve operating cash flows and the ability to pay distributions from operating cash flows, the Advisor may elect to forgive and absorb certain fees. Because the Advisor may forgive or absorb certain fees, cash flow from operations that would have been paid to the Advisor may be available to pay distributions to stockholders. The fees that are forgiven are not deferrals and, accordingly, will not be paid to the Advisor in the future. During the year s ended December 31, 2015 and 2014 , the Advisor elected to forgive $1.2 million and $0.6 million in fees, respectively. There were no such fees forgiven during the year ended December 31, 2016 . In certain instances, to improve the Company's working capital, the Advisor may elect to absorb a portion of the Company's property operating and general and administrative costs, which the Company will not repay. No such expenses were absorbed during the year s ended December 31, 2016 , 2015 and 2014 . The predecessor to AR Global was a party to a services agreement with RCS Advisory Services, LLC, a subsidiary of the parent company of the Former Dealer Manager (“RCS Advisory”), pursuant to which RCS Advisory and its affiliates provided the Company and certain other companies sponsored by AR Global with services (including, without limitation, transaction management, compliance, due diligence, event coordination and marketing services, among others) on a time and expenses incurred basis or at a flat rate based on services performed. The predecessor to AR Global instructed RCS Advisory to stop providing such services in November 2015 and no services have since been provided by RCS Advisory. The Company was also party to a transfer agency agreement with ANST, a subsidiary of the parent company of the Former Dealer Manager, pursuant to which ANST provided the Company with transfer agency services (including broker and stockholder servicing, transaction processing, year-end IRS reporting and other services), and supervisory services overseeing the transfer agency services performed by DST Systems, Inc., a third-party transfer agent ("DST"). AR Global received written notice from ANST on February 10, 2016 that it would wind down operations by the end of the month and would withdraw as the transfer agent effective February 29, 2016. On February 26, 2016, the Company entered into a definitive agreement with DST to provide the Company directly with transfer agency services (including broker and stockholder servicing, transaction processing, year-end IRS reporting and other services). Fees and Participations Paid in Connection with a Listing or the Liquidation of the Company's Real Estate Assets Fees Incurred in Connection with a Listing In 2015, the Board determined that it was in the Company’s best interest to evaluate strategic alternatives, including a listing on a national securities exchange. Accordingly, in March 2015, the Company formally engaged KeyBanc and RCS Capital ("RCS Capital"), the investment banking and capital markets division of the Former Dealer Manager, and in May 2015, the Company formally engaged BMO Capital Markets Corp. ("BMO"), as financial advisors. Pursuant to the agreements with KeyBanc, BMO and RCS Capital, they each would have received a listing advisory fee equal to $1.5 million if the Company's shares were listed on a national securities exchange. In the event of a sale or acquisition transaction, KeyBanc, BMO and RCS Capital each would have received a proposed transaction fee equal to 0.25% of the value of the transaction. The agreements with KeyBanc, RCS Capital and BMO were terminated in January 2016. No fees were incurred in connection with these agreements during the year s ended December 31, 2016 and 2015 . The Board, led by its independent directors, announced in April 2016 that it had initiated the Strategic Review. On October 6, 2016, the Company announced that the Special Committee had concluded the Strategic Review and recommended that the Company continue to execute its business plan and focus on managing and strengthening its assets. See Note 1 — Organization . If the common stock of the Company is listed on a national exchange, the Special Limited Partner will be entitled to receive a subordinated incentive listing distribution from the OP equal to 15.0% of the amount by which the market value of all issued and outstanding shares of common stock plus distributions exceeds the aggregate capital contributed by investors plus an amount equal to a 6.0% cumulative, pre-tax non-compounded annual return to investors. The Special Limited Partner will not be entitled to the subordinated incentive listing distribution unless investors have received a 6.0% cumulative, pre-tax non-compounded annual return on their capital contributions. No such distribution was incurred during the year s ended December 31, 2016 , 2015 and 2014 . Neither the Special Limited Partner nor any of its affiliates can earn both the subordinated participation in net sales proceeds and the subordinated incentive listing distribution. Annual Subordinated Performance Fees and Brokerage Commissions The Advisor was entitled to an annual subordinated performance fee calculated on the basis of the Company's total return to stockholders, payable annually in arrears, such that for any year in which the Company's total return on stockholders' capital exceeded 6.0% per annum, the Advisor was entitled to 15.0% of the excess total return but not to exceed 10.0% of the aggregate total return for such year. This fee would have been payable only upon the sale of assets, distributions or another event which resulted in the return on stockholders' capital exceeding 6.0% per annum. No subordinated performance fees were incurred during the year s ended December 31, 2016 , 2015 or 2014 . The Advisor was entitled to a brokerage commission on the sale of property, not to exceed the lesser of (a) 2.0% of the contract sale price of the property and (b) 50.0% of the total brokerage commission paid if a third party broker was also involved; provided, however, that in no event could the real estate commissions paid to the Advisor, its affiliates and unaffiliated third parties exceed the lesser of (a) 6.0% of the contract sales price and (b) a reasonable, customary and competitive real estate commission. The brokerage commission payable to the Advisor was subject to approval by a majority of the independent directors upon a finding that the Advisor provided a substantial amount of services in connection with the sale. During the year ended December 31, 2016 , the Company incurred and paid $0.3 million in brokerage commissions to the Advisor on the sale of three properties. No brokerage commissions were incurred or paid during the year s ended December 31, 2015 or 2014 . The Second A&R Advisory Agreement terminated the annual subordinated performance fee and brokerage commissions payable to the Advisor, (all as defined in the Original A&R Advisory Agreement) effective February 17, 2017. Subordinated Participation in Real Estate Sales The Special Limited Partner is entitled to receive a subordinated participation in the net sales proceeds of the sale of real estate assets from the OP equal to 15.0% of remaining net sale proceeds after return of capital contributions to investors plus payment to investors of a 6.0% cumulative, pre-tax non-compounded annual return on the capital contributed by investors. The Special Limited Partner is not entitled to the subordinated participation in net sale proceeds unless the Company's investors have received their capital contributions plus a 6.0% cumulative, pre-tax non-compounded annual return on their capital contributions. No such participation in net sales proceeds became due and payable during the year s ended December 31, 2016 , 2015 and 2014 . Termination Fees Upon termination or non-renewal of the advisory agreement with the Advisor, with or without cause, the Special Limited Partner was entitled to receive distributions from the OP equal to 15.0% of the amount by which the sum of the Company's market value plus distributions exceeds the sum of the aggregate capital contributed by investors plus an amount equal to an annual 6.0% cumulative, pre-tax, non-compounded annual return to investors. The Special Limited Partner was able to elect to defer its right to receive a subordinated distribution upon termination until either a listing on a national securities exchange or other liquidity event occurred. Under the Second A&R Advisory Agreement, upon the termination or non-renewal of the advisory agreement, as amended, the Advisor will be entitled to receive from the Company all amounts due to the Advisor, including any change in control fee and transition fee (both described below), as well as the then-present fair market value of the Advisor's interest in the Company. All fees will be due within 30 days after the effective date of the termination of the advisory agreement, as amended. Upon a change in control, the Company would pay a change in control fee equal to the product of (a) four (4) and (b) the "Subject Fees". The Subject Fees are equal to (i) the product of four (4) multiplied by the actual base management fee plus (ii) the product of four (4) multiplied by the actual variable management/incentive fee, in each of clauses (i) and (ii), payable for the fiscal quarter immediately prior to the fiscal quarter in which the change in control occurs or the transition is consummated (see below), plus (iii) without duplication, the annual increase in the base management fee resulting from the cumulative net proceeds of any equity raised in respect to the fiscal quarter immediately prior to the fiscal quarter in which the change in control occurs. Upon a transition to self-management, the Company would pay a transition fee equal to (i) $15.0 million plus (ii) the product of (a) four (4) multiplied by (b) subject fees (as defined above), provided that the transition fee shall not exceed an amount equal (i) 4.5 multiplied by (ii) subject fees. Termination of the advisory agreement, as amended, due to a change in control or transition to self-management is subject to a lockout period that end on February 14, 2019.

Economic Dependency

Economic Dependency	12 Months Ended
	Dec. 31, 2016
Economic Dependency [Abstract]
Economic Dependency	Note 11 — Economic Dependency Under various agreements, the Company has engaged or will engage the Advisor, its affiliates and entities under common control with the Advisor to provide certain services that are essential to the Company, including asset management services, supervision of the management and leasing of properties owned by the Company and asset acquisition and disposition decisions, as well as other administrative responsibilities for the Company including accounting services and investor relations. As a result of these relationships, the Company is dependent upon the Advisor and its affiliates. In the event that the Advisor and its affiliates are unable to provide the Company with the respective services, the Company will be required to find alternative providers of these services.

Equity-Based Compensation

Equity-Based Compensation	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity-Based Compensation	Note 12 — Equity-Based Compensation Restricted Share Plan The Company has an employee and director incentive restricted share plan (the "RSP"), which provides for the automatic grant of 1,333 restricted shares of common stock to each of the independent directors, without any further approval by the Board or the stockholders, after initial election to the Board and after each annual stockholder meeting, with such shares vesting annually beginning with the one year anniversary of initial election to the Board and the date of the next annual meeting, respectively. Restricted stock issued to independent directors will vest over a five -year period in increments of 20.0% per annum. The RSP provides the Company with the ability to grant awards of restricted shares to the Company's directors, officers and employees (if the Company ever has employees), employees of the Advisor and its affiliates, employees of entities that provide services to the Company, directors of the Advisor or of entities that provide services to the Company, certain consultants to the Company and the Advisor and its affiliates or to entities that provide services to the Company. The total number of common shares granted under the RSP may not exceed 5.0% of the Company's outstanding shares of common stock on a fully diluted basis at any time and in any event will not exceed 3.4 million shares (as such number may be adjusted for stock splits, stock dividends, combinations and similar events). Restricted share awards entitle the recipient to receive shares of common stock from the Company under terms that provide for vesting over a specified period of time. For restricted share awards granted prior to July 1, 2015, such awards would typically be forfeited with respect to the unvested shares upon the termination of the recipient's employment or other relationship with the Company. For restricted share awards granted on or after July 1, 2015, such awards provide for accelerated vesting of the portion of the unvested shares scheduled to vest in the year of the recipient's voluntary termination or the failure to be re-elected to the Board. Restricted shares may not, in general, be sold or otherwise transferred until restrictions are removed and the shares have vested. Holders of restricted shares may receive cash distributions prior to the time that the restrictions on the restricted shares have lapsed. Any distributions payable in shares of common stock shall be subject to the same restrictions as the underlying restricted shares. The following table reflects restricted share award activity for the period presented: Number of Common Shares Weighted-Average Issue Price Unvested, December 31, 2013 3,999 $ 22.50 Granted 3,999 22.50 Vested (800 ) 22.50 Forfeitures — — Unvested, December 31, 2014 7,198 22.50 Granted 7,998 22.50 Vested (1,066 ) 22.50 Forfeitures (2,399 ) 22.50 Unvested, December 31, 2015 11,731 22.50 Granted 6,735 22.27 Vested (7,212 ) 22.50 Forfeitures (1,333 ) 22.50 Unvested, December 31, 2016 9,921 $ 22.42 As of December 31, 2016 , the Company had $0.2 million of unrecognized compensation cost related to unvested restricted share awards granted under the Company's RSP. That cost is expected to be recognized over a weighted-average period of 4.0 years . Compensation expense related to restricted stock was $0.2 million , $0.1 million and approximately $27,000 during the year s ended December 31, 2016 , 2015 and 2014 , respectively. Compensation expense related to restricted stock is recorded as general and administrative expense in the accompanying consolidated statement of operations and comprehensive loss. Other Share-Based Compensation The Company may issue common stock in lieu of cash to pay fees earned by the Company's directors at the respective director's election. There are no restrictions on the shares issued since these payments in lieu of cash relate to fees earned for services performed. No such shares were issued during the year s ended December 31, 2016 and 2015 . During the year ended December 31, 2014 , the Company issued 2,037 shares in lieu of approximately $46,000 in cash.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Note 9 — Common Stock As of December 31, 2016 and 2015 , the Company had 89.4 million and 86.1 million shares of common stock outstanding, respectively, including unvested restricted shares and shares issued pursuant to the DRIP and had received total proceeds, net of shares repurchased under the SRP of $2.2 billion and $2.1 billion , respectively, including proceeds from shares issued pursuant to the DRIP. In April 2013, the Board authorized, and the Company declared, a distribution payable on a monthly basis to stockholders of record on a daily basis at a rate equal to $0.0046575343 per day, which is equivalent to $1.70 per annum, per share of common stock, which began in May 2013. In March 2016, the Board ratified the existing distribution amount equivalent to $1.70 per annum, and, for calendar year 2016, affirmed a change to the daily distribution payable to stockholders of record each day during the applicable period to $0.0046448087 per day per share of common stock to accurately reflect that 2016 is a leap year. Distributions are payable by the 5th day following each month end to stockholders of record at the close of business each day during the prior month. Distribution payments are dependent on the availability of funds. The Board may reduce the amount of distributions paid or suspend distribution payments at any time and therefore distribution payments are not assured. Share Repurchase Program The Board has adopted the SRP, which enables stockholders to sell their shares to the Company in limited circumstances. The SRP permits investors to sell their shares back to the Company after they have held them for at least one year, subject to the significant conditions and limitations described below. Prior to the time that the Company’s shares are listed on a national securities exchange and until the NAV Pricing Date (other than with respect to a repurchase request that was made in connection with a stockholder's death or disability), the repurchase price per share depended on the length of time investors held such shares, as follows: after one year from the purchase date — the lower of $23.13 or 92.5% of the amount they actually paid for each share; after two years from the purchase date — the lower of $23.75 or 95.0% of the amount they actually paid for each share; after three years from the purchase date — the lower of $24.38 or 97.5% of the amount they actually paid for each share; and after four years from the purchase date — the lower of $25.00 or 100.0% of the amount they actually paid for each share (in each case, as adjusted for any stock distributions, combinations, splits and recapitalizations). In cases of requests for death and disability, the repurchase price was be equal to the price actually paid for each share. In accordance with the First SRP Amendment (described below) and beginning with the NAV Pricing Date, the price per share that the Company will pay to repurchase its shares will be equal to its NAV multiplied by a percentage equal to (i) 92.5% , if the person seeking repurchase has held his or her shares for a period greater than one year and less than two years; (ii) 95.0% , if the person seeking repurchase has held his or her shares for a period greater than two years and less than three years; (iii) 97.5% , if the person seeking repurchase has held his or her shares for a period greater than three years and less than four years; or (iv) 100.0% , if the person seeking repurchase has held his or her shares for a period greater than four years. In cases of requests for death and disability, the repurchase prices will be equal to NAV at the time of repurchase. Subject to limited exceptions, stockholders who redeem their shares of our common stock within the first four months from the date of purchase will be subject to a short-term trading fee of 2% of the aggregate NAV per share of the shares of common stock received. Repurchases of shares of the Company's common stock, when requested, are at the sole discretion of the Board. Until the First SRP Amendment (described below), the Company limited the number of shares repurchased during any calendar year to 5% of the weighted average number of shares of common stock outstanding on December 31st of the previous calendar year. In addition, the Company was only authorized to repurchase shares in a given quarter up to the amount of proceeds received from its DRIP in that same quarter. On January 26, 2016, the Board approved and amended the SRP (the "First SRP Amendment") to supersede and replace the existing SRP. Under the First SRP Amendment, repurchases of shares of the Company's common stock, when requested, are at the sole discretion of the Board and generally will be made semiannually (each six-month period ending June 30 or December 31, a “fiscal semester”). Repurchases for any fiscal semester will be limited to a maximum of 2.5% of the weighted average number of shares of common stock outstanding during the previous fiscal year (the "Prior Year Outstanding Shares"), with a maximum for any fiscal year of 5.0% of the Prior Year Outstanding Shares. In addition, the Company is only authorized to repurchase shares in a given fiscal semester up to the amount of proceeds received from its DRIP in that same fiscal semester. If the NAV Pricing Date occurs during any fiscal semester, any repurchase requests received during such fiscal semester will be paid at the applicable NAV then in effect. On June 28, 2016, the Board further amended the Company’s SRP (the "Second SRP Amendment") to provide for one twelve-month repurchase period for calendar year 2016 (the “2016 Repurchase Period”) instead of two semi-annual periods ending June 30 and December 31. The annual limit on repurchases under the SRP remained unchanged and continues to be limited to a maximum of 5.0% of the Prior Year Outstanding Shares and is subject to the terms and limitations set forth in the SRP. Accordingly, the 2016 Repurchase Period is limited to a maximum of 5.0% of the Prior Year Outstanding Shares and continues to be subject to the terms and conditions set forth in the SRP, as amended. Following calendar year 2016, the repurchase periods will return to two semi-annual periods and applicable limitations set forth in the SRP. The Second SRP Amendment also provides, for calendar year 2016 only, that any amendments, suspensions or terminations of the SRP become effective on the day following the Company’s public announcement of such amendments, suspension or termination. The Second SRP Amendment became effective on July 30, 2016 and only applies to repurchase periods in calendar year 2016. On January 25, 2017, the Board further amended the Company’s SRP (the "Third SRP Amendment") changing the date on which any repurchases are to be made in respect of requests made during the calendar year 2016 to no later than March 15, 2017, rather than on or before the 31st day following December 31, 2016. All other terms of the SRP remain in effect, including that repurchases pursuant to the SRP are at the sole discretion of the Board. When a stockholder requests redemption and the redemption is approved by the Board, the Company will reclassify such obligation from equity to a liability based on the settlement value of the obligation. Shares purchased under the SRP will have the status of authorized but unissued shares. The following table reflects the number of shares repurchased cumulatively through December 31, 2016 : Number of Shares Repurchased Average Price per Share Cumulative repurchases as of December 31, 2015 (1) 968,370 $ 23.72 Year ended December 31, 2016 (2) 6,660 24.36 Cumulative repurchases as of December 31, 2016 (2) 975,030 $ 23.73 _____________________________ (1) Excludes rejected repurchases of 201,367 shares for $4.6 million at an average price per share of $23.04 , which were unfulfilled as of December 31, 2015. (2) As permitted under the SRP, in March 2017, the Company's board of directors authorized, with respect to repurchase requests received during the year ended December 31, 2016 , the repurchase of shares validly submitted for repurchase in an amount equal to 1.5% of the weighted average number of shares of common stock outstanding during the fiscal year ended December 31, 2015 , representing less than all the shares validly submitted for repurchase during the year ended December 31, 2016 . Accordingly, 1.3 million shares for $27.5 million at an average price per share of $21.61 (including all shares submitted for death or disability) were approved for repurchase, with repurchases to be completed in March 2017 , while repurchase requests of 2.3 million shares for $48.7 million at an average price per share of $21.27 were rejected. Repurchases completed during the year ended December 31, 2016 include 6,660 shares which represent unaccrued repurchases for the year ended December 31, 2015 that were finalized in January 2016. Distribution Reinvestment Plan Pursuant to the DRIP, stockholders may elect to reinvest distributions by purchasing shares of common stock in lieu of receiving cash. No dealer manager fees or selling commissions are paid with respect to shares purchased under the DRIP. The shares purchased pursuant to the DRIP have the same rights and are treated in the same manner as the shares issued pursuant to the IPO. The Board may designate that certain cash or other distributions be excluded from reinvestment pursuant to the DRIP. The Company has the right to amend any aspect of the DRIP or terminate the DRIP with ten days' notice to participants. Shares issued under the DRIP are recorded as equity in the accompanying consolidated balance sheet in the period distributions are declared. During the year s ended December 31, 2016 and 2015 , the Company issued 3.2 million and 3.3 million shares of common stock pursuant to the DRIP, generating aggregate proceeds of $73.6 million and $78.5 million , respectively. Note 13 — Accumulated Other Comprehensive Income (Loss) The following table illustrates the changes in accumulated other comprehensive income (loss) as of and for the period presented: (In thousands) Unrealized Gains (Losses) on Available-for-Sale Securities Balance, December 31, 2013 $ — Other comprehensive income, before reclassifications 471 Amounts reclassified from accumulated other comprehensive income (1) (8 ) Balance, December 31, 2014 463 Other comprehensive loss, before reclassifications (23 ) Amounts reclassified from accumulated other comprehensive income (1) (446 ) Balance, December 31, 2015 (6 ) Other comprehensive income, before reclassifications 62 Amounts reclassified from accumulated other comprehensive income (1) (56 ) Balance, December 31, 2016 $ — __________________ (1) During the year s ended December 31, 2016 , 2015 and 2014 , the Company sold its investments in securities, resulting in realized gains of $0.1 million , $0.4 million and approximately $8,000 , which are included in gain on sale of investment securities on the consolidated statement of operations and comprehensive loss.

Non-Controlling Interests

Non-Controlling Interests	12 Months Ended
	Dec. 31, 2016
Noncontrolling Interest [Abstract]
Non-Controlling Interests	Note 14 — Non-Controlling Interests The Company is the sole general partner and holds substantially all of the units of limited partner interests in the OP ("OP Units"). As of December 31, 2016 and 2015 , the Advisor held 90 OP Units, which represents a nominal percentage of the aggregate OP ownership. In November 2014, the Company partially funded the purchase of an MOB from an unaffiliated third party by causing the OP to issue 405,908 OP Units, with a value of $10.1 million , or $25.00 per unit, to the unaffiliated third party. A holder of OP Units has the right to distributions and has the right to convert OP Units for the cash value of a corresponding number of shares of the Company's common stock or, at the option of the OP, a corresponding number of shares of the Company's common stock, in accordance with the limited partnership agreement of the OP, provided, however, that such OP Units must have been outstanding for at least one year. The remaining rights of the limited partners in the OP are limited, however, and do not include the ability to replace the general partner or to approve the sale, purchase or refinancing of the OP's assets. During the year s ended December 31, 2016 and 2015 , OP Unit non-controlling interest holders were paid distributions of $0.7 million . There were no such distributions paid during the year ended December 31, 2014 . The Company has investment arrangements with an unaffiliated third party whereby such investor receives an ownership interest in certain of the Company's property-owning subsidiaries and is entitled to receive a proportionate share of the net operating cash flow derived from the subsidiaries' property. Upon disposition of a property subject to non-controlling interest, the investor will receive a proportionate share of the net proceeds from the sale of the property. The investor has no recourse to any other assets of the Company. Due to the nature of the Company's involvement with these arrangements and the significance of its investment in relation to the investment of the third party, the Company has determined that it controls each entity in these arrangements and therefore the entities related to these arrangements are consolidated within the Company's financial statements. A non-controlling interest is recorded for the investor's ownership interest in the properties. The following table summarizes the activity related to investment arrangements with the unaffiliated third party. No distributions of net cash flow from operations were made related to these investment arrangements during the year s ended December 31, 2015 and December 31, 2014 . As of December 31, 2016 As of December 31, 2015 Property Name (Dollar amounts in thousands) Investment Date Third Party Net Investment Amount as of December 31, 2016 Non-Controlling Ownership Percentage as of December 31, 2016 Net Real Estate Assets Subject to Investment Arrangement Mortgage Notes Payable Subject to Investment Arrangement Net Real Estate Assets Subject to Investment Arrangement Mortgage Notes Payable Subject to Investment Arrangement Distributions (1) for the Year Ended December 31, 2016 Plaza Del Rio Medical Office Campus Portfolio - Peoria, AZ May 2015 $ 439 4.1 % $ 10,429 $ — $ 10,561 $ — $ 40 _______________ (1) Represents distributions to unaffiliated third party investors of net cash flows from operations of the properties subject to the investment arrangements.

Net Loss Per Share

Net Loss Per Share	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Net Loss Per Share	Note 15 — Net Loss Per Share The following is a summary of the basic and diluted net loss per share computation for the year s ended December 31, 2016 , 2015 and 2014 : Year Ended December 31, 2016 2015 2014 Net loss attributable to stockholders (in thousands) $ (20,874 ) $ (41,741 ) $ (37,678 ) Basic and diluted weighted-average shares outstanding 87,878,907 85,331,966 51,234,729 Basic and diluted net loss per share $ (0.24 ) $ (0.49 ) $ (0.74 ) The Company had the following potentially dilutive securities as of December 31, 2016 , 2015 and 2014 , which were excluded from the calculation of diluted loss per share attributable to stockholders as the effect would have been antidilutive: December 31, 2016 2015 2014 Unvested restricted stock 9,921 11,731 7,198 OP Units 405,998 405,998 405,998 Class B units 359,250 359,250 107,885 Total common share equivalents 775,169 776,979 521,081

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Segment Reporting	Note 16 — Segment Reporting During the year s ended December 31, 2016 , 2015 and 2014 , the Company operated in three reportable business segments for management and internal financial reporting purposes: medical office buildings, triple-net leased healthcare facilities, and seniors housing — operating properties ("SHOP"). The Company evaluates performance and makes resource allocations based on its three business segments. The medical office building segment primarily consists of MOBs leased to healthcare-related tenants under long-term leases, which may require such tenants to pay a pro rata share of property-related expenses. The triple-net leased healthcare facilities segment primarily consists of investments in seniors housing communities, hospitals, inpatient rehabilitation facilities and skilled nursing facilities under long-term leases, under which tenants are generally responsible to directly pay property-related expenses. The SHOP segment consists of direct investments in seniors housing communities, primarily providing assisted living, independent living and memory care services, which are operated through engaging independent third-party managers. There were no intersegment sales or transfers during the periods presented. The Company evaluates the performance of the combined properties in each segment based on net operating income ("NOI"). NOI is defined as total revenues, excluding contingent purchase price consideration, less property operating and maintenance expense. NOI excludes all other items of expense and income included in the financial statements in calculating net income (loss). The Company uses NOI to assess and compare property level performance and to make decisions concerning the operation of the properties. The Company believes that NOI is useful as a performance measure because, when compared across periods, NOI reflects the impact on operations from trends in occupancy rates, rental rates, operating expenses and acquisition activity on an unleveraged basis, providing perspective not immediately apparent from net income (loss). NOI excludes certain components from net income (loss) in order to provide results that are more closely related to a property's results of operations. For example, interest expense is not necessarily linked to the operating performance of a real estate asset and is often incurred at the corporate level. In addition, depreciation and amortization, because of historical cost accounting and useful life estimates, may distort operating performance at the property level. NOI presented by the Company may not be comparable to NOI reported by other REITs that define NOI differently. The Company believes that in order to facilitate a clear understanding of the Company's operating results, NOI should be examined in conjunction with net income (loss) as presented in the Company's consolidated financial statements. NOI should not be considered as an alternative to net income (loss) as an indication of the Company's performance or to cash flows as a measure of the Company's liquidity or ability to make distributions. The following tables reconcile the segment activity to consolidated net loss for the year s ended December 31, 2016 , 2015 and 2014 : Year Ended December 31, 2016 (In thousands) Medical Office Buildings Triple-Net Leased Healthcare Facilities Seniors Housing — Operating Properties Consolidated Revenues: Rental income $ 65,994 $ 37,374 $ 7 $ 103,375 Operating expense reimbursements 14,927 949 — 15,876 Resident services and fee income — — 183,177 183,177 Total revenues 80,921 38,323 183,184 302,428 Property operating and maintenance 23,814 18,812 129,451 172,077 NOI $ 57,107 $ 19,511 $ 53,733 130,351 Contingent purchase price consideration 138 Impairment on sale of real estate investments (389 ) Operating fees to related parties (20,583 ) Acquisition and transaction related (3,163 ) General and administrative (12,105 ) Depreciation and amortization (98,886 ) Interest expense (19,881 ) Interest and other income 47 Gain on non-designated derivative instruments 31 Gain on sale of real estate investment 1,330 Gain on sale of investment securities 56 Income tax benefit (expense) 2,084 Net loss attributable to non-controlling interests 96 Net loss attributable to stockholders $ (20,874 ) Year Ended December 31, 2015 (In thousands) Medical Office Buildings Triple-Net Leased Healthcare Facilities Seniors Housing — Operating Properties Consolidated Revenues: Rental income $ 56,165 $ 37,053 $ — $ 93,218 Operating expense reimbursements 12,611 148 — 12,759 Resident services and fee income — — 140,901 140,901 Total revenues 68,776 37,201 140,901 246,878 Property operating and maintenance 20,334 6,706 98,533 125,573 NOI $ 48,442 $ 30,495 $ 42,368 121,305 Contingent purchase price consideration 612 Operating fees to related parties (12,191 ) Acquisition and transaction related (14,679 ) General and administrative (9,733 ) Depreciation and amortization (120,924 ) Interest expense (10,356 ) Interest and other income 582 Gain on sale of investment securities 446 Income tax benefit (expense) 2,978 Net loss attributable to non-controlling interests 219 Net loss attributable to stockholders $ (41,741 ) Year Ended December 31, 2014 (In thousands) Medical Office Buildings Triple-Net Leased Healthcare Facilities Seniors Housing — Operating Properties Consolidated Revenues: Rental income $ 13,955 $ 9,050 $ — $ 23,005 Operating expense reimbursements 3,532 53 — 3,585 Resident services and fee income — — 31,849 31,849 Total revenues 17,487 9,103 31,849 58,439 Property operating and maintenance 4,765 79 21,873 26,717 NOI $ 12,722 $ 9,024 $ 9,976 31,722 Acquisition and transaction related (33,623 ) General and administrative (3,541 ) Depreciation and amortization (28,889 ) Interest expense (3,559 ) Interest and other income 735 Gain on sale of investment securities 8 Income tax benefit (expense) (565 ) Net loss attributable to non-controlling interests 34 Net loss attributable to stockholders $ (37,678 ) The following table reconciles the segment activity to consolidated total assets as of the periods presented: December 31, (In thousands) 2016 2015 ASSETS Investments in real estate, net: Medical office buildings $ 788,023 $ 839,041 Triple-net leased healthcare facilities 418,819 447,893 Construction in progress 70,055 31,309 Seniors housing — operating properties 837,338 876,359 Total investments in real estate, net 2,114,235 2,194,602 Cash and cash equivalents 29,225 24,474 Restricted cash 3,962 4,647 Investment securities, at fair value — 1,078 Non-designated derivative assets, at fair value 61 — Straight-line rent receivable, net 12,026 11,470 Prepaid expenses and other assets 22,073 21,707 Deferred costs, net 12,123 11,864 Total assets $ 2,193,705 $ 2,269,842 The following table reconciles capital expenditures by reportable business segment, excluding corporate non-real estate expenditures, for the periods presented: Year Ended December 31, (In thousands) 2016 2015 2014 Medical office buildings $ 3,198 $ 2,129 $ 609 Triple-net leased healthcare facilities 112 540 — Seniors housing — operating properties 4,165 2,701 134 Total capital expenditures $ 7,475 $ 5,370 $ 743

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 17 — Commitments and Contingencies The Company has entered into operating and capital lease agreements related to certain acquisitions under leasehold interest arrangements. The following table reflects the minimum base cash rental payments due from the Company over the next five years and thereafter under these arrangements, including the present value of the net minimum payment due under capital leases. These amounts exclude contingent rent payments, as applicable, that may be payable based on provisions related to increases in annual rent based on exceeding certain economic indexes among other items. Future Minimum Base Rent Payments (In thousands) Operating Leases Capital Leases 2017 $ 664 $ 76 2018 668 78 2019 673 80 2020 671 82 2021 658 84 Thereafter 32,571 7,764 Total minimum lease payments $ 35,905 8,164 Less: amounts representing interest (3,351 ) Total present value of minimum lease payments $ 4,813 Total rental expense from operating leases was $0.8 million , $0.4 million and $0.1 million during the year s ended December 31, 2016 , 2015 and 2014 , respectively. During the year s ended December 31, 2016 , 2015 and 2014 , interest expense related to capital leases was approximately $0.1 million , $0.1 million $0.2 million , respectively. Litigation and Regulatory Matters In the ordinary course of business, the Company may become subject to litigation, claims and regulatory matters. There are no material legal or regulatory proceedings pending or known to be contemplated against the Company or its properties. Environmental Matters In connection with the ownership and operation of real estate, the Company may potentially be liable for costs and damages related to environmental matters. As of December 31, 2016 , the Company had not been notified by any governmental authority of any non-compliance, liability or other claim, and is not aware of any other environmental condition that it believes will have a material adverse effect on the results of operations. Development Project Funding In August 2015, the Company entered into an asset purchase agreement and development agreement to acquire land and construction in progress, and subsequently fund the remaining construction, of a skilled nursing facility in Jupiter, Florida for $82.0 million . As of December 31, 2016 , the Company had funded $10.0 million and $60.1 million for the land and construction in progress, respectively. Concurrent with the acquisition, the Company entered into a loan agreement and lease agreement with an affiliate of the project developer. The loan agreement is intended to provide working capital to the tenant during the initial operating period of the facility and allows for borrowings of up to $2.7 million from the Company on a non-revolving basis. Any outstanding principal balances under the loan will bear interest at 7.0% per year, payable on the first day of each fiscal quarter. As of December 31, 2016 , there were no amounts outstanding due to the Company pursuant to the loan agreement.

Quarterly Results (Unaudited)

Quarterly Results (Unaudited)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Quarterly Results (Unaudited)	Note 18 — Quarterly Results (Unaudited) Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2016 , 2015 and 2014 : (In thousands, except for share and per share data) March 31, June 30, September 30, December 31, Total revenues $ 75,509 $ 75,857 $ 75,521 $ 75,679 Net loss attributable to stockholders $ (1,555 ) $ (3,000 ) $ (8,664 ) $ (7,655 ) Basic and diluted weighted average shares outstanding 86,658,678 87,465,569 88,285,390 89,088,233 Basic and diluted loss per share $ (0.02 ) $ (0.03 ) $ (0.10 ) $ (0.09 ) (In thousands, except for share and per share data) March 31, June 30, September 30, December 31, Total revenues $ 57,121 $ 59,516 $ 64,030 $ 66,373 Net loss attributable to stockholders $ (5,220 ) $ (13,421 ) $ (16,108 ) $ (6,992 ) Basic and diluted weighted average shares outstanding 84,250,503 84,992,633 85,705,595 86,351,934 Basic and diluted loss per share $ (0.06 ) $ (0.16 ) $ (0.19 ) $ (0.08 ) (In thousands, except for share and per share data) March 31, June 30, September 30, December 31, Total revenues $ 1,387 $ 2,869 $ 11,818 $ 42,365 Net loss attributable to stockholders $ (582 ) $ (4,147 ) $ (20,023 ) $ (12,926 ) Basic and diluted weighted average shares outstanding 13,623,545 35,127,969 71,813,126 83,381,570 Basic and diluted loss per share $ (0.04 ) $ (0.12 ) $ (0.28 ) $ (0.16 )

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Note 19 — Subsequent Events The Company has evaluated subsequent events through the filing of this Annual Report on Form 10-K , and determined that there have not been any events that have occurred that would require adjustments to disclosures in the consolidated financial statements except for the following: Second Amended and Restated Advisory Agreement On February 17, 2017, the Company entered into the Second A&R Advisory Agreement with the Advisor. See Note 10 — Related Party Transactions and Arrangements for more information on the changes arising as a result from Second A&R Advisory Agreement. Amended and Restated Property Management Agreement On February 17, 2017, the Company entered into the A&R Property Management with the Property Manager. See Note 10 — Related Party Transactions and Arrangements for more information on the changes arising as a result from A&R Property Management Agreement. Amendment to Revolving Credit Facility On February 24, 2017, the Company amended its Revolving Credit Facility, which, among other things, amended the method and inputs used in the calculation of certain financial covenants contained within the Revolving Credit Facility. See Note 5 — Credit Facilities for more information on the Revolving Credit Facility. Approval of Share Repurchases On March 3, 2017, as permitted under the SRP, the Board authorized, with respect to repurchase requests received during the year ended December 31, 2016 , the repurchase of shares validly submitted for repurchase in an amount equal to 1.5% of the weighted average number of shares of common stock outstanding during the fiscal year ended December 31, 2015 , representing less than all the shares validly submitted for repurchase during the year ended December 31, 2016 . Accordingly, 1.3 million shares for $27.5 million at an average price per share of $21.61 (including all shares submitted for death or disability) were approved for repurchase, with repurchases to be completed in March 2017 . See Note 9 — Common Stock for more information on the SRP. Decrease in Monthly Distribution Rate On March 3, 2017, the Board authorized a decrease in the rate at which the Company pays monthly distributions to holders of the Company’s common stock, effective as of April 1, 2017, from $0.0046575343 per share per day, or $1.70 per share on an annualized basis, to $0.0039726027 per share per day, or $1.45 per share on an annualized basis. This represents a change in the annualized distribution yield, based on the original purchase price of $25.00 per share, from 6.8% to 5.8% .

Real Estate and Accumulated Dep

Real Estate and Accumulated Depreciation - Schedule III	12 Months Ended
	Dec. 31, 2016
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Real Estate and Accumulated Depreciation, Schedule III	Initial Costs Subsequent to Acquisition Property (In thousands) State Acquisition Date Encumbrances at December 31, 2016 Land Building and Improvements Building and Gross Amount at December 31,2016 (1)(2) Accumulated Depreciation (3)(4) Fresenius Medical Care - Winfield (5) AL 5/10/2013 $ — $ 151 $ 1,568 $ — $ 1,719 $ 169 Adena Health Center - Jackson (5) OH 6/28/2013 — 242 4,494 — 4,736 408 Ouachita Community Hospital - West Monroe LA 7/12/2013 — 633 5,304 — 5,937 490 CareMeridian - Littleton CO 8/8/2013 — 976 8,900 103 9,979 1,348 Oak Lawn Medical Center - Oak Lawn (5) IL 8/21/2013 — 835 7,477 — 8,312 808 Surgery Center of Temple - Temple (5) TX 8/30/2013 — 225 5,208 — 5,433 450 Greenville Health System - Greenville (5) SC 10/10/2013 — 720 3,045 — 3,765 255 Arrowhead Medical Plaza II - Glendale AZ 2/21/2014 — — 9,707 307 10,014 904 Village Center Parkway - Stockbridge GA 2/21/2014 — 1,135 2,299 131 3,565 251 Stockbridge Family Medical - Stockbridge GA 2/21/2014 — 823 1,799 11 2,633 153 Creekside MOB - Douglasville (5) GA 4/30/2014 — 2,709 5,320 603 8,632 546 Bowie Gateway Medical Center - Bowie (5) MD 5/7/2014 — 983 10,321 — 11,304 748 Campus at Crooks & Auburn Building D - Rochester Hills (5) MI 5/19/2014 — 640 4,107 — 4,747 302 Medical Center of New Windsor - New Windsor NY 5/22/2014 8,602 — 10,566 338 10,904 806 Plank Medical Center - Clifton Park NY 5/22/2014 3,414 749 3,559 25 4,333 280 Cushing Center - Schenectady NY 5/23/2014 — — 12,489 45 12,534 913 Berwyn Medical Center - Berwyn (5) IL 5/29/2014 — 1,305 7,559 — 8,864 509 Countryside Medical Arts - Safety Harbor FL 5/30/2014 5,904 915 7,663 60 8,638 560 St. Andrews Medical Park - Venice FL 5/30/2014 6,526 1,666 9,944 142 11,752 757 Campus at Crooks & Auburn Building C - Rochester Hills (5) MI 6/3/2014 — 609 3,842 130 4,581 301 Slingerlands Crossing Phase I - Bethlehem NY 6/13/2014 6,589 3,865 5,919 28 9,812 445 Slingerlands Crossing Phase II - Bethlehem NY 6/13/2014 7,671 1,707 9,715 193 11,615 715 UC Davis MOB - Elk Grove (5) CA 7/15/2014 — 1,138 7,242 26 8,406 510 Laguna Professional Center - Elk Grove (5) CA 7/15/2014 — 1,811 14,598 — 16,409 1,014 Big Spring Care Center - Humansville MO 7/31/2014 — 230 6,514 — 6,744 591 Buffalo Prairie Care Center - Buffalo MO 7/31/2014 — 230 4,098 — 4,328 412 Cassville Health Care & Rehab - Cassville MO 7/31/2014 — 250 3,774 — 4,024 324 Country Aire Retirement Estates - Lewistown MO 7/31/2014 — 400 4,546 — 4,946 483 Edgewood Manor Nursing Home - Raytown MO 7/31/2014 — 591 851 — 1,442 82 Georgian Gardens - Potosi MO 7/31/2014 — 500 6,359 — 6,859 660 Marshfield Care Center - Marshfield MO 7/31/2014 — 310 4,052 — 4,362 428 Estate at Hyde Park - Tampa (5) FL 7/31/2014 — 1,777 20,153 12 21,942 1,539 Initial Costs Subsequent to Acquisition Property (In thousands) State Acquisition Date Encumbrances at December 31, 2016 Land Building and Improvements Building and Gross Amount at December 31,2016 (1)(2) Accumulated Depreciation (3)(4) Autumn Ridge of Clarkston - Clarkston (5) MI 8/12/2014 — 655 19,834 106 20,595 1,548 Sunnybrook of Burlington - Burlington (5) IA 8/26/2014 — 518 16,651 74 17,243 1,274 Sunnybrook of Carroll - Carroll (5) IA 8/26/2014 — 473 11,150 10 11,633 779 Sunnybrook of Fairfield - Fairfield (5) IA 8/26/2014 — 340 14,028 102 14,470 1,098 Sunnybrook of Ft. Madison - Ft. Madison (5) IA 8/26/2014 — 550 9,024 57 9,631 703 Sunnybrook of Mt. Pleasant - Mt. Pleasant (5) IA 8/26/2014 — 205 10,811 156 11,172 705 Sunnybrook of Muscatine - Muscatine IA 8/26/2014 — 302 13,752 73 14,127 977 Prairie Hills at Cedar Rapids - Cedar Rapids (5) IA 8/26/2014 — 195 8,544 57 8,796 609 Prairie Hills at Clinton - Clinton (5) IA 8/26/2014 — 890 18,801 61 19,752 1,355 Prairie Hills at Des Moines - Des Moines IA 8/26/2014 — 647 13,645 48 14,340 1,072 Prairie Hills at Tipton - Tipton IA 8/26/2014 — 306 10,370 8 10,684 669 Prairie Hills at Independence - Independence (5) IA 8/26/2014 — 473 10,534 42 11,049 726 Prairie Hills at Ottumwa - Ottumwa (5) IA 8/26/2014 — 538 9,100 80 9,718 688 Sunnybrook of Burlington - Land - Burlington IA 8/26/2014 — 620 — — 620 — Benedictine Cancer Center - Kingston NY 8/27/2014 6,719 — 13,274 — 13,274 809 Buchanan Meadows - Buchanan MI 8/29/2014 — 288 6,988 — 7,276 532 Crystal Springs - Kentwood MI 8/29/2014 — 661 14,507 — 15,168 1,218 Golden Orchards - Fennville MI 8/29/2014 — 418 5,318 — 5,736 376 Lakeside Vista - Holland MI 8/29/2014 — 378 12,196 — 12,574 906 Liberty Court - Dixon IL 8/29/2014 — 119 1,957 — 2,076 162 Prestige Centre - Buchanan MI 8/29/2014 — 297 2,207 — 2,504 197 Prestige Commons - Chesterfield Twp MI 8/29/2014 — 318 5,346 — 5,664 377 Prestige Pines - Dewitt MI 8/29/2014 — 476 3,065 — 3,541 308 Prestige Place - Clare MI 8/29/2014 — 59 1,169 — 1,228 172 Prestige Point - Grand Blanc MI 8/29/2014 — 268 3,037 — 3,305 274 Prestige Way - Holt MI 8/29/2014 — 527 5,269 — 5,796 463 The Atrium - Rockford IL 8/29/2014 — 367 4,385 — 4,752 354 Waldon Woods - Wyoming MI 8/29/2014 — 527 5,696 — 6,223 581 Whispering Woods - Grand Rapids MI 8/29/2014 — 806 12,204 — 13,010 1,043 Arrowhead Medical Plaza I - Glendale AZ 9/10/2014 — — 6,377 446 6,823 402 Golden Years - Harrisonville MO 9/11/2014 — 620 8,401 — 9,021 761 Initial Costs Subsequent to Acquisition Property (In thousands) State Acquisition Date Encumbrances at December 31, 2016 Land Building and Improvements Building and Gross Amount at December 31,2016 (1)(2) Accumulated Depreciation (3)(4) Cardiovascular Consultants of Cape Girardeau Medical Office Building - Cape Girardeau (5) MO 9/18/2014 — 1,624 5,303 — 6,927 444 FOC Clinical - Mechanicsburg (5) PA 9/26/2014 — — 19,634 — 19,634 1,259 Brady MOB - Harrisburg (5) PA 9/26/2014 — — 22,485 — 22,485 1,276 Community Health MOB - Harrisburg (5) PA 9/26/2014 — — 6,170 — 6,170 359 FOC I - Mechanicsburg (5) PA 9/26/2014 — — 8,923 23 8,946 588 FOC II - Mechanicsburg (5) PA 9/26/2014 — — 16,473 — 16,473 1,064 Landis Memorial - Harrisburg (5) PA 9/26/2014 — — 32,484 — 32,484 1,850 Copper Springs Senior Living - Meridian (5) ID 9/29/2014 — 498 7,053 72 7,623 684 Addington Place of Brunswick - Brunswick (5) (f/k/a Benton House - Brunswick) GA 9/30/2014 — 1,509 14,385 19 15,913 1,097 Addington Place of Dublin - Dublin (5) (f/k/a Benton House - Dublin) GA 9/30/2014 — 403 9,254 34 9,691 771 Addington Place of Johns Creek - Johns Creek (5) (f/k/a Benton House - Johns Creek) GA 9/30/2014 — 997 11,849 75 12,921 931 Addington Place of Lee's Summit - Lee's Summit (7) (f/k/a Benton House - Lee's Summit) MO 9/30/2014 — 2,734 24,970 36 27,740 1,764 Manor on the Square - Roswell (5) (f/k/a Benton House - Roswell) GA 9/30/2014 — 1,000 8,509 111 9,620 762 Addington Place of Titusville - Titusville (5) (f/k/a Benton House - Titusville) FL 9/30/2014 — 1,379 13,827 101 15,307 1,148 Allegro at Elizabethtown - Elizabethtown (5) KY 9/30/2014 — 317 7,261 128 7,706 645 Allegro at Jupiter - Jupiter (6) FL 9/30/2014 — 3,741 49,413 115 53,269 3,506 Addington Place of College Harbor - St. Petersburg (5) (f/k/a Allegro at St Petersburg) FL 9/30/2014 — 3,791 7,950 545 12,286 909 Allegro at Stuart - Stuart (6) FL 9/30/2014 — 5,018 60,505 151 65,674 4,396 Allegro at Tarpon - Tarpon Springs (5) FL 9/30/2014 — 2,360 13,412 81 15,853 1,235 Allegro at St Petersburg - Land - St Petersburg FL 9/30/2014 — 3,045 — — 3,045 — Gateway Medical Office Building - Clarksville TN 10/3/2014 — — 16,367 501 16,868 985 757 Building - Munster (5) IN 10/17/2014 — 645 7,885 — 8,530 447 Dyer Building - Dyer (5) IN 10/17/2014 — 601 8,867 124 9,592 505 759 Building - Munster (5) IN 10/17/2014 — 1,101 8,899 — 10,000 519 761 Building - Munster (5) IN 10/17/2014 — 1,436 8,580 10 10,026 519 Schererville Building - Schererville IN 10/17/2014 — 1,260 750 201 2,211 85 Nuvista at Hillsborough - Lutz FL 10/17/2014 — 913 17,176 — 18,089 1,665 Nuvista at Wellington Green - Wellington (5) FL 10/17/2014 — 4,273 42,098 — 46,371 3,414 Initial Costs Subsequent to Acquisition Property (In thousands) State Acquisition Date Encumbrances at December 31, 2016 Land Building and Improvements Building and Gross Amount at December 31,2016 (1)(2) Accumulated Depreciation (3)(4) Mount Vernon Medical Office Building - Mount Vernon WA 11/25/2014 — — 18,519 — 18,519 1,046 Meadowbrook Senior Living - Agoura Hills (5) CA 11/25/2014 — 8,821 48,454 194 57,469 2,946 Hampton River Medical Arts Building - Hampton (5) VA 12/3/2014 — — 17,706 18 17,724 1,044 Careplex West Medical Office Building - Hampton (5) VA 12/3/2014 — 2,628 16,098 — 18,726 894 Wellington at Hershey's Mill - West Chester (5) PA 12/3/2014 — 8,531 78,409 1,012 87,952 4,739 Eye Specialty Group Medical Building - Memphis (5) TN 12/5/2014 — 775 7,223 — 7,998 395 Addington Place of Alpharetta - Alpharetta (5) (f/k/a Benton House - Alpharetta) GA 12/10/2014 — 1,604 26,055 19 27,678 1,713 Addington Place of Prairie Village - Prairie Village (7) (f/k/a Benton House - Prairie Village) KS 12/10/2014 — 1,782 21,831 19 23,632 1,478 Medical Sciences Pavilion - Harrisburg (5) PA 12/15/2014 — — 22,309 — 22,309 1,178 Bloom MOB - Harrisburg (5) PA 12/15/2014 — — 15,928 25 15,953 866 Pinnacle Center - Southaven (5) MS 12/16/2014 — 1,378 6,418 239 8,035 414 Wood Glen Nursing and Rehab Center - West Chicago IL 12/16/2014 — 1,896 16,107 — 18,003 1,308 Paradise Valley Medical Plaza - Phoenix (5) AZ 12/29/2014 — — 25,187 358 25,545 1,372 The Hospital at Craig Ranch - McKinney (f/k/a Victory Medical Center at Craig Ranch) TX 12/30/2014 — 1,596 40,389 54 42,039 2,063 Capitol Healthcare & Rehab Centre - Springfield IL 12/31/2014 — 603 21,690 — 22,293 1,707 Colonial Healthcare & Rehab Centre - Princeton IL 12/31/2014 — 173 5,872 — 6,045 602 Morton Terrace Healthcare & Rehab Centre - Morton IL 12/31/2014 — 709 5,650 — 6,359 593 Morton Villa Healthcare & Rehab Centre - Morton IL 12/31/2014 — 645 3,665 — 4,310 357 Rivershores Healthcare & Rehab Centre - Marseilles IL 12/31/2014 — 1,276 6,869 — 8,145 592 The Heights Healthcare & Rehab Centre - Peoria Heights IL 12/31/2014 — 213 7,952 — 8,165 719 Specialty Hospital - Mesa AZ 1/14/2015 — 1,977 16,146 275 18,398 862 Specialty Hospital - Sun City AZ 1/14/2015 — 2,329 15,795 274 18,398 849 Addington Place of Shoal Creek - Kansas City (7) (f/k/a Benton House - Shoal Creek) MO 2/2/2015 — 3,723 22,206 32 25,961 1,366 Aurora Health Center - Green Bay (8) WI 3/18/2015 — 1,130 1,678 — 2,808 95 Aurora Health Center - Greenville (8) WI 3/18/2015 — 259 958 — 1,217 57 Aurora Health Center - Plymouth (8) WI 3/18/2015 — 2,891 24,224 — 27,115 1,226 Aurora Health Center - Waterford (8) WI 3/18/2015 — 590 6,452 — 7,042 315 Aurora Health Center - Wautoma (8) WI 3/18/2015 — 1,955 4,361 — 6,316 222 Aurora Sheyboygan Clinic - Kiel (8) WI 3/18/2015 — 676 2,214 — 2,890 112 Initial Costs Subsequent to Acquisition Property (In thousands) State Acquisition Date Encumbrances at December 31, 2016 Land Building and Improvements Building and Gross Amount at December 31,2016 (1)(2) Accumulated Depreciation (3)(4) Arbor View Assisted Living and Memory Care - Burlington WI 3/31/2015 — 367 7,815 — 8,182 528 Advanced Orthopedic Medical Center - Richmond (5) VA 4/7/2015 — 1,523 19,229 — 20,752 893 Palm Valley Medical Plaza - Goodyear AZ 4/7/2015 3,428 1,890 4,876 42 6,808 259 Physicians Plaza of Roane County - Harriman (5) TN 4/27/2015 — 1,746 7,813 38 9,597 371 Adventist Health Lacey Medical Plaza - Hanford (5) CA 4/29/2015 — 328 13,267 9 13,604 563 Commercial Center - Peoria AZ 5/15/2015 — 959 1,076 193 2,228 63 Medical Center I - Peoria AZ 5/15/2015 — 807 1,077 500 2,384 112 Medical Center II - Peoria AZ 5/15/2015 — 945 1,304 413 2,662 94 Medical Center III - Peoria AZ 5/15/2015 — 673 1,597 78 2,348 80 Dental Arts Building - Peoria AZ 5/15/2015 — 156 152 12 320 8 Morrow Medical Center - Morrow (5) GA 6/24/2015 — 1,155 5,618 62 6,835 232 Belmar Medical Building - Lakewood (5) CO 6/29/2015 — 819 4,273 37 5,129 190 Addington Place of Northville - Northville (7) MI 6/30/2015 — 440 14,975 12 15,427 723 Medical Center V - Peoria AZ 7/10/2015 3,151 1,089 3,145 67 4,301 133 Legacy Medical Village - Plano (5) TX 7/10/2015 — 3,755 31,021 48 34,824 1,254 Conroe Medical Arts and Surgery Center - Conroe (5) TX 7/10/2015 — 1,965 12,032 56 14,053 526 Scripps Cedar Medical Center - Vista (5) CA 8/6/2015 — 1,213 14,531 — 15,744 533 NuVista Institute for Healthy Living - Jupiter FL 8/7/2015 — 10,000 — — 10,000 — Ocean Park of Brookings - Brookings OR 9/1/2015 — 861 8,367 108 9,336 378 Ramsey Woods - Cudahy WI 10/2/2015 — 930 4,990 — 5,920 218 East Coast Square North - Morehead City (5) NC 10/15/2015 — 899 4,761 — 5,660 160 East Coast Square West - Cedar Point (5) NC 10/15/2015 — 1,535 4,803 6 6,344 166 Eastside Cancer Institute - Greenville (5) SC 10/22/2015 — 1,498 6,637 — 8,135 213 Sassafras Medical Building - Erie (5) PA 10/22/2015 — 928 4,538 — 5,466 137 Sky Lakes Klamath Medical Clinic - Klamath Falls (5) OR 10/22/2015 — 433 2,604 8 3,045 82 Courtyard Fountains - Gresham OR 12/1/2015 24,820 2,476 50,534 509 53,519 1,691 Presence Healing Arts Pavilion - New Lenox IL 12/4/2015 — — 6,761 64 6,825 209 Mainland Medical Arts Pavilion - Texas City (5) TX 12/4/2015 — 320 7,823 247 8,390 252 Renaissance on Peachtree - Atlanta (5) GA 12/15/2015 — 4,535 68,605 300 73,440 2,242 Fox Ridge Senior Living at Bryant - Bryant AR 12/29/2015 7,698 1,687 12,862 75 14,624 532 Fox Ridge Senior Living at Chenal - Little Rock AR 12/29/2015 17,540 6,896 20,484 19 27,399 735 Fox Ridge Senior Living at Parkstone - North Little Rock AR 12/29/2015 10,884 — 19,190 47 19,237 624 Initial Costs Subsequent to Acquisition Property (In thousands) State Acquisition Date Encumbrances at December 31, 2016 Land Building and Improvements Building and Gross Amount at December 31,2016 (1)(2) Accumulated Depreciation (3)(4) Autumn Leaves of Clear Lake - Houston TX 12/31/2015 — 1,599 13,194 — 14,793 435 Autumn Leaves of Cy-Fair - Houston TX 12/31/2015 — 1,225 11,335 — 12,560 375 Autumn Leaves of Meyerland - Houston TX 12/31/2015 — 2,033 13,411 — 15,444 423 Autumn Leaves of The Woodlands - The Woodlands TX 12/31/2015 — 2,412 9,141 — 11,553 324 Encumbrances allocated based on note below (8) 30,858 Total $ 143,804 $ 187,868 $ 1,861,320 $ 11,270 $ 2,060,458 $ 119,014 ___________________________________ (1) Acquired intangible lease assets allocated to individual properties in the amount of $234.7 million are not reflected in the table above. (2) The tax basis of aggregate land, buildings and improvements as of December 31, 2016 is $2.1 billion (unaudited). (3) The accumulated depreciation column excludes $122.0 million of amortization associated with acquired intangible lease assets. (4) Depreciation is computed using the straight-line method over the estimated useful lives of up to 40 years for buildings, 15 years for land improvements and five years for fixtures. (5) These unencumbered properties collateralize the Revolving Credit Facility of up to $565.0 million , which had $421.5 million of outstanding borrowings as of December 31, 2016 . (6) These properties collateralize the Capital One Credit Facility, which had $30.0 million of outstanding borrowings as of December 31, 2016 . (7) These properties collateralize the KeyBank Credit Facility, which had $30.0 million of outstanding borrowings as of December 31, 2016 . (8) These properties cross collateralize a mortgage note payable of $30.9 million as of December 31, 2016 . f/k/a — Formerly Known As A summary of activity for real estate and accumulated depreciation for the years ended December 31, 2016 , 2015 and 2014 : December 31, (In thousands) 2016 2015 2014 Real estate investments, at cost (1) : Balance at beginning of year $ 2,078,503 $ 1,475,848 $ 39,778 Additions-Acquisitions 6,478 602,655 1,436,070 Disposals (24,523 ) — — Balance at end of the year $ 2,060,458 $ 2,078,503 $ 1,475,848 Accumulated depreciation (1) : Balance at beginning of year $ 60,575 $ 11,791 $ 814 Depreciation expense 59,478 48,784 10,977 Disposals (1,039 ) — — Balance at end of the year $ 119,014 $ 60,575 $ 11,791 ___________________________________ (1) Acquired intangible lease assets and related accumulated depreciation are not reflected in the table above. See accompanying report of independent registered public accounting firm.

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Basis of Accounting	Basis of Accounting The accompanying consolidated financial statements of the Company are prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States ("GAAP").
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation, including amounts within rental income, resident services and fee income, cash flows from operating activities and cash flows from financing
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries and consolidated joint venture arrangements in which the Company has controlling financial interests. The portions of the consolidated joint venture arrangements not owned by the Company are presented as non-controlling interests as of and during the period consolidated. All inter-company accounts and transactions have been eliminated in consolidation. The Company evaluates its relationships and investments to determine if it has variable interests. A variable interest is an investment or other interest that will absorb portions of an entity's expected losses or receive portions of the entity's expected residual returns. If the Company determines that it has a variable interest in an entity, it evaluates whether such interest is in a variable interest entity ("VIE"). A VIE is broadly defined as an entity where either (1) the equity investors as a group, if any, lack the power through voting or similar rights to direct the activities of an entity that most significantly impact the entity's economic performance or (2) the equity investment at risk is insufficient to finance that entity's activities without additional subordinated financial support. The Company consolidates any VIEs when it is determined to be the primary beneficiary of the VIE's operations. A variable interest holder is considered to be the primary beneficiary of a VIE if it has the power to direct the activities of a VIE that most significantly impact the entity's economic performance and has the obligation to absorb losses of, or the right to receive benefits from, the entity that could potentially be significant to the VIE. The Company qualitatively assesses whether it is (or is not) the primary beneficiary of a VIE. Consideration of various factors include, but are not limited to, the Company's ability to direct the activities that most significantly impact the entity's economic performance, its form of ownership interest, its representation on the entity's governing body, the size and seniority of its investment, its ability and the rights of other investors to participate in policy making decisions and to replace the manager of and/or liquidate the entity. The Company continually evaluates the need to consolidate joint ventures based on standards set forth in GAAP. In determining whether the Company has a controlling interest in a joint venture and the requirement to consolidate the accounts of that entity, management considers factors such as ownership interest, power to make decisions and contractual and substantive participating rights of the partners/members as well as whether the entity is a VIE for which the Company is the primary beneficiary. The Company has determined the OP is a VIE of which the Company is the primary beneficiary. Substantially all of the Company's assets and liabilities are held by the OP.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management makes significant estimates regarding revenue recognition, purchase price allocations to record investments in real estate, real estate taxes, fair value measurements and income taxes, as applicable.
Real Estate Investments	Real Estate Investments Investments in real estate are recorded at cost. Improvements and replacements are capitalized when they extend the useful life or improve the productive capacity of the asset. Costs of repairs and maintenance are expensed as incurred. The Company evaluates the inputs, processes and outputs of each asset acquired to determine if the transaction is a business combination or asset acquisition. If an acquisition qualifies as a business combination, the related transaction costs are recorded as an expense in the consolidated statement of operations. If an acquisition qualifies as an asset acquisition, the related transaction costs are generally capitalized and subsequently amortized over the useful life of the acquired assets. In business combinations, the Company allocates the purchase price of acquired properties to tangible and identifiable intangible assets or liabilities based on their respective fair values. Tangible assets may include land, land improvements, buildings and fixtures. Intangible assets may include the value of in-place leases and above- and below-market leases and other identifiable intangible assets or liabilities based on lease or property specific characteristics. In addition, any assumed mortgages receivable or payable and any assumed or issued non-controlling interests are recorded at their estimated fair values. The Company generally determines the value of construction in progress based upon the replacement cost. During the construction period, we capitalize interest, insurance and real estate taxes until the development has reached substantial completion. The fair value of the tangible assets of an acquired property with an in-place operating lease is determined by valuing the property as if it were vacant, and the “as-if-vacant” value is then allocated to the tangible assets based on the fair value of the tangible assets. The fair value of in-place leases is determined by considering estimates of carrying costs during the expected lease-up periods, current market conditions, as well as costs to execute similar leases. The fair value of above- or below-market leases is recorded based on the present value of the difference between the contractual amount to be paid pursuant to the in-place lease and the Company’s estimate of the fair market lease rate for the corresponding in-place lease, measured over the remaining term of the lease including any below-market fixed rate renewal options for below-market leases. In making estimates of fair values for purposes of allocating purchase price, the Company utilizes a number of sources, including real estate valuations prepared by independent valuation firms. The Company also considers information and other factors including market conditions, the industry that the tenant operates in, characteristics of the real estate, i.e. location, size, demographics, value and comparative rental rates, tenant credit profile and the importance of the location of the real estate to the operations of the tenant’s business. In allocating the fair value to assumed mortgages, amounts are recorded to debt premiums or discounts based on the present value of the estimated cash flows, which is calculated to account for either above- or below-market interest rates. In allocating non-controlling interests, amounts are recorded based on the fair value of units issued or percentage of investment contributed at the date of acquisition, as determined by the terms of the applicable agreement. Real estate investments that are intended to be sold are designated as "held for sale" on the consolidated balance sheets at the lesser of carrying amount or fair value less estimated selling costs when they meet specific criteria to be presented as held for sale. Real estate investments are no longer depreciated when they are classified as held for sale. If the disposal, or intended disposal, of certain real estate investments represents a strategic shift that has had or will have a major effect on the Company's operations and financial results, the operations of such real estate investments would be presented as discontinued operations in the consolidated statements of operations and comprehensive loss for all applicable periods.
Depreciation and Amortization	Depreciation and Amortization Depreciation is computed using the straight-line method over the estimated useful lives of up to 40 years for buildings, 15 years for land improvements, five years for fixtures and improvements, and the shorter of the useful life or the remaining lease term for tenant improvements and leasehold interests. Construction in progress, including capitalized interest, insurance and real estate taxes, is not depreciated until the development has reached substantial completion. The assumed mortgage premiums or discounts are amortized as an increase or reduction to interest expense over the remaining term of the respective mortgages. Capitalized above-market lease values are amortized as a reduction of rental income over the remaining terms of the respective leases. Capitalized below-market lease values are accreted as an increase to rental income over the remaining terms of the respective leases and expected below-market renewal option periods. Capitalized above-market ground lease values are accreted as a reduction of property operating expense over the remaining terms of the respective leases. Capitalized below-market ground lease values are amortized as an increase to property operating expense over the remaining terms of the respective leases and expected below-market renewal option periods. The value of in-place leases, exclusive of the value of above-market and below-market in-place leases, is amortized to expense over the remaining periods of the respective leases.
Impairment of Long-Lived Assets	Impairment of Long Lived Assets If circumstances indicate that the carrying value of a property may not be recoverable, the Company reviews the asset for impairment. This review is based on an estimate of the future undiscounted cash flows, excluding interest charges, expected to result from the property’s use and eventual disposition. These estimates consider factors such as expected future operating income, market and other applicable trends and residual value, as well as the effects of leasing demand, competition and other factors. If impairment exists due to the inability to recover the carrying value of a property, an impairment loss is recorded to the extent that the carrying value exceeds the estimated fair value of the property for properties to be held and used. For properties held for sale, the impairment loss is the adjustment to fair value less estimated cost to dispose of the asset. Impairment assessments have a direct impact on net income because recording an impairment loss results in an immediate negative adjustment to net income.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents includes cash in bank accounts as well as investments in highly-liquid money market funds with original maturities of three months or less.
Restricted Cash	Restricted Cash Restricted cash generally consists of resident security deposits and reserves related to real estate taxes, maintenance, structural improvements, and debt service.
Investments in Securities	Investments in Securities The Company classifies its investments in debt or equity securities into one of three classes: held-to-maturity, available-for-sale or trading, as applicable. Investments in debt securities that the Company has the positive intent and ability to hold until maturity are classified as held-to-maturity and are reported at amortized cost. Debt and equity securities that are bought and held principally for the purposes of selling them in the near future are classified as trading securities. Debt and equity securities not classified as trading securities or as held-to-maturity securities are classified as available-for-sale securities and are reported at fair value, with unrealized holding gains and losses reported as a component of equity within accumulated other comprehensive income or loss. Gains or losses on securities sold are based on the specific identification method. The Company evaluates its investments in securities for impairment or other-than-temporary impairment on a quarterly basis. The Company reviews each investment individually and assesses factors that may include (i) if the carrying amount of an investment exceeds its fair value, (ii) if there has been any change in the market as a whole or in the investee’s market, (iii) if there are any plans to sell the investment in question or if the Company believes it may be forced to sell its investment, and (iv) if there have been any other factors that would indicate the possibility of the existence of an other-than-temporary impairment. The fair value of the Company’s investments in available-for-sale securities generally rise and fall based on current market conditions. If, after reviewing relevant factors surrounding an impaired security, the Company determines that it will not recover its full investment in an impaired security, the Company recognizes an other-than-temporary impairment charge in the consolidated statements of operations and comprehensive loss in the period in which the other-than-temporary impairment is determined, regardless of whether or not the Company plans to sell or believes it will be forced to sell the security in question.
Deferred Costs, Net	Deferred Costs, Net Deferred costs, net, consists of deferred financing costs and deferred leasing costs. Deferred financing costs represent commitment fees, legal fees, and other costs associated with obtaining commitments for financing. These costs are amortized over the terms of the respective financing agreements using the effective interest method and included in interest expense on the accompanying consolidated statements of operations and comprehensive loss. Unamortized deferred financing costs are expensed if the associated debt is refinanced or repaid before maturity. Costs incurred in seeking financial transactions that do not close are expensed in the period in which it is determined that the financing will not close.
Revenue Recognition	Revenue Recognition The Company's rental income is primarily related to rent received from tenants in MOBs and triple-net leased healthcare facilities. Rent from tenants in the Company's MOB and triple-net leased healthcare facilities operating segments (as discussed below) is recorded in accordance with the terms of each lease on a straight-line basis over the initial term of the lease. Because many of the leases provide for rental increases at specified intervals, GAAP requires the Company to record a receivable, and include in revenues on a straight-line basis, unbilled rent receivables that the Company will only receive if the tenant makes all rent payments required through the expiration of the initial term of the lease. When the Company acquires a property, the acquisition date is considered to be the commencement date for purposes of this calculation. Cost recoveries from tenants are included in operating expense reimbursement in the period the related costs are incurred, as applicable. Resident services and fee income primarily relates to rent from residents in the Company's seniors housing — operating properties ("SHOP") held using a structure permitted by the REIT Investment Diversification and Empowerment Act of 2007 and to fees for ancillary services performed for SHOP residents. Rental income from residents in the Company's SHOP operating segment is recognized as earned. Residents pay monthly rent that covers occupancy of their unit and basic services, including utilities, meals and some housekeeping services. The terms of the rent are short term in nature, primarily month-to-month. Fees for ancillary services are recorded in the period in which the services are performed. The Company defers the revenue related to lease payments received from tenants and residents in advance of their due dates. The Company continually reviews receivables related to rent and unbilled rent receivables and determines collectability by taking into consideration the tenant's payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. In the event that the collectability of a receivable is in doubt, the Company records an increase in the allowance for uncollectible accounts on the consolidated balance sheets or records a direct write-off of the receivable in the consolidated statements of operations.
Offering and Related Costs	Offering and Related Costs Offering and related costs include all expenses incurred in connection with the IPO. Offering costs of the Company (other than selling commissions and the dealer manager fee, as discussed in Note 10 — Related Party Transactions and Arrangements ) may be paid by the Advisor, the Former Dealer Manager or their affiliates on behalf of the Company. Offering and related costs included (i) legal, accounting, printing, mailing, and filing fees; (ii) escrow service related fees; (iii) reimbursement of the Former Dealer Manager for amounts it paid to reimburse the itemized and detailed due diligence expenses of broker-dealers; and (iv) reimbursement to the Advisor for a portion of the costs of its employees and other costs in connection with preparing supplemental sales materials and related offering activities. The Company was obligated to reimburse the Advisor or its affiliates, as applicable, for offering costs paid by them on behalf of the Company, provided that the Advisor was obligated to reimburse the Company to the extent offering costs (excluding selling commissions and the dealer manager fee) incurred by the Company in its offering exceed 2.0% of offering proceeds, net of repurchases and DRIP. As a result, these costs were only a liability of the Company to the extent aggregate selling commissions, the dealer manager fees and other organization and offering costs did not exceed 12.0% of the gross proceeds determined at the end of the IPO. As of the end of the IPO in November 2014, cumulative offering costs did not exceed 12.0% of the gross proceeds received in the IPO (See Note 10 — Related Party Transactions and Arrangements ).
Equity-Based Compensation	Equity-Based Compensation The Company has a stock-based incentive award plan for its directors, which is accounted for under the guidance of share based payments. The expense for such awards is included in general and administrative expenses and is recognized over the vesting period or when the requirements for exercise of the award have been met (See Note 12 — Equity-Based Compensation ).
Income Taxes	The tax years subsequent to and including the fiscal year ended December 31, 2013 remain open to examination by the major taxing jurisdictions to which the Company is subject. The amount of distributions payable to the Company's stockholders is determined by the board of directors and is dependent on a number of factors, including funds available for distribution, financial condition, capital expenditure requirements, as applicable, and annual distribution requirements needed to qualify and maintain the Company's status as a REIT under the Code. Income Taxes The Company elected and qualified to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986 (the "Code"), as amended, commencing with the taxable year ended December 31, 2013. If the Company continues to qualify for taxation as a REIT, it generally will not be subject to federal corporate income tax to the extent it distributes all of its REIT taxable income to its stockholders. REITs are subject to a number of organizational and operational requirements, including a requirement that the Company distribute annually at least 90% of the Company’s REIT taxable income to the Company’s stockholders. If the Company fails to continue to qualify as a REIT in any taxable year and does not qualify for certain statutory relief provisions, the Company will be subject to U.S. federal and state income taxes at regular corporate rates (including any applicable alternative minimum tax) beginning with the year in which it fails to qualify and may be precluded from being able to elect to be treated as a REIT for the Company’s four subsequent taxable years. The Company distributed to its stockholders 100% of its REIT taxable income for each of the years ended December 31, 2016 , 2015 and 2014 . Accordingly, no provision for federal or state income taxes related to such REIT taxable income was recorded in the Company's financial statements. Even if the Company continues to qualify for taxation as a REIT, it may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed income. Certain limitations are imposed on REITs with respect to the ownership and operation of seniors housing communities. Generally, to qualify as a REIT, the Company cannot directly or indirectly operate seniors housing communities. Instead, such facilities may be either leased to a third party operator or leased to a taxable REIT subsidiary (“TRS”) and operated by a third party on behalf of the TRS. Accordingly, the Company has formed a TRS entity under the OP to lease its SHOPs and the TRS has entered into management contracts with unaffiliated third party managers to operate the facilities on its behalf. As of December 31, 2016 , the Company, through its TRS entity, owned 38 seniors housing communities. The TRS entity is a wholly-owned subsidiary of the OP. A TRS is subject to federal, state and local income taxes. The Company records net deferred tax assets to the extent the Company believes these assets will more likely than not be realized. In making such determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies and recent financial operations. In the event the Company determines that it would not be able to realize the deferred income tax assets in the future in excess of the net recorded amount, the Company establishes a valuation allowance which offsets the previously recognized income tax benefit. Deferred income taxes result from temporary differences between the carrying amounts of the TRS's assets and liabilities used for financial reporting purposes and the amounts used for income tax purposes. Significant components of the deferred tax assets and liabilities as of December 31, 2016 consisted of deferred rent and depreciation. As of December 31, 2016 , the Company had a deferred tax asset of $5.2 million with no valuation allowance. As of December 31, 2015 , the Company had a deferred tax asset of $2.9 million with no valuation allowance. The following table details the composition of the Company's tax benefit (expense) for the years ended December 31, 2016 , 2015 and 2014 , which includes federal and state income taxes incurred by the Company's TRS entity. The Company estimated its income tax benefit (expense) relating to its TRS entity using a combined federal and state rate of approximately 40.0% and 40.2% for the years ended December 31, 2016 and 2015 , respectively. These income taxes are reflected in income tax benefit (expense) on the accompanying consolidated statements of operations and comprehensive loss.
Per Share Data	Per Share Data Net income (loss) per basic share of common stock is calculated by dividing net income (loss) by the weighted-average number of shares of common stock issued and outstanding during such period. Diluted net income (loss) per share of common stock considers the effect of potentially dilutive shares of common stock outstanding during the period.
Reportable Segments	Reportable Segments The Company has determined that it has three reportable segments, with activities related to investing in MOBs, triple-net leased healthcare facilities, and seniors housing communities. Management evaluates the operating performance of the Company's investments in real estate and seniors housing communities on an individual property level.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued revised guidance relating to revenue recognition. Under the revised guidance, an entity is required to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The revised guidance was to become effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption was not permitted under GAAP. The revised guidance allows entities to apply the full retrospective or modified retrospective transition method upon adoption. In July 2015, the FASB deferred the effective date of the revised guidance by one year to annual reporting periods beginning after December 15, 2017, although entities will be allowed to early adopt the guidance as of the original effective date. The Company is evaluating the impact of the implementation of this guidance, including performing a preliminary review of all revenue streams to identify any differences in the timing, measurement or presentation of revenue recognition. The Company is continuing to evaluate the allowable methods of adoption. In January 2015, the FASB issued updated guidance that eliminates from GAAP the concept of an event or transaction that is unusual in nature and occurs infrequently being treated as an extraordinary item. The revised guidance is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Any amendments may be applied either prospectively or retrospectively to all prior periods presented in the financial statements. Early adoption was permitted provided that the guidance was applied from the beginning of the fiscal year of adoption. The Company elected to adopt this new guidance as of September 30, 2015. The adoption of this guidance did not have a material impact on the Company's financial position, results of operations and cash flows. In February 2015, the FASB amended the accounting for consolidation of certain legal entities. The amendments modify the evaluation of whether certain legal entities are VIEs or voting interest entities, eliminates the presumption that a general partner should consolidate a limited partnership and affect the consolidation analysis of reporting entities that are involved with VIEs (particularly those that have fee arrangements and related party relationships). The revised guidance is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption was permitted, including adoption in an interim period. The Company has elected to adopt this guidance effective January 1, 2016. The Company has evaluated the impact of the adoption of this new guidance on its consolidated financial statements and has determined that the OP is considered a VIE. However, the Company meets the disclosure exemption criteria as the Company is the primary beneficiary of the VIE and the Company’s partnership interest in a business and the assets of the OP can be used for purposes other than settling its obligations, such as paying distributions. As such, this standard did not have a material impact on the Company's consolidated financial statements. In April 2015, the FASB amended the presentation of debt issuance costs on the balance sheet. The amendment requires that debt issuance costs related to a recognized debt liability be presented on the balance sheet as a direct deduction from the carrying amount of that debt liability. In August 2015, the FASB added that, for line of credit arrangements, the SEC staff would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line, regardless of whether or not there are any outstanding borrowings. The revised guidance is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption was permitted for financial statements that have not previously been issued. The Company has elected to adopt this guidance effective January 1, 2016. The adoption of this revised guidance resulted in the reclassification of $2.0 million and $2.2 million of deferred financing costs related to the Company's mortgage notes payable from deferred costs, net to mortgage notes payable, net of deferred financing costs in the Company's consolidated balance sheets as of December 31, 2015. In September 2015, the FASB issued an update that eliminates the requirement to adjust provisional amounts from a business combination and the related impact on earnings by restating prior period financial statements for measurement period adjustments. The new guidance requires that the cumulative impact of measurement period adjustments on current and prior periods, including the prior period impact on depreciation, amortization and other income statement items and their related tax effects, shall be recognized in the period the adjustment amount is determined. The cumulative adjustment would be reflected within the respective financial statement line items affected. The revised guidance is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption was permitted. The Company elected to adopt this guidance as of September 30, 2015. The adoption of this guidance did not have a material impact to the Company's financial position, results of operations and cash flows. In January 2016, the FASB issued an update that amends the recognition and measurement of financial instruments. The new guidance revises an entity’s accounting related to equity investments and the presentation of certain fair value changes for financial liabilities measured at fair value. Among other things, it also amends the presentation and disclosure requirements associated with the fair value of financial instruments. The revised guidance is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2017. Early adoption is not permitted for most of the amendments in the update. The Company is currently evaluating the impact of this new guidance. In February 2016, the FASB issued an update that sets out the principles for the recognition, measurement, presentation and disclosure of leases for both lessees and lessors. The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. The revised guidance is effective on January 1, 2019. Early adoption is permitted. The Company has begun developing an inventory of all leases as well as identifying any non-lease components in our lease arrangements. The Company is continuing to evaluate the impact of this new guidance. In March 2016, the FASB issued guidance which requires an entity to determine whether the nature of its promise to provide goods or services to a customer is performed in a principal or agent capacity and to recognize revenue in a gross or net manner based on its principal/agent designation. This guidance is effective for public business entities for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2017. Early adoption is permitted. The Company is currently evaluating the impact of this new guidance. In March 2016, the FASB issued an update that changes the accounting for certain aspects of share-based compensation. Among other things, the revised guidance allows companies to make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. The revised guidance is effective for reporting periods beginning after December 15, 2016. Early adoption is permitted. The Company has adopted the provisions of this guidance beginning January 1, 2016 and determined that there is no impact to the Company’s consolidated financial position, results of operations and cash flows. The Company's policy is to account for forfeitures as they occur. In August 2016, the FASB issued guidance on how certain transactions should be classified and presented in the statement of cash flows as either operating, investing or financing activities. Among other things, the update provides specific guidance on where to classify debt prepayment and extinguishment costs, payments for contingent consideration made after a business combination and distributions received from equity method investments. The revised guidance is effective for reporting periods beginning after December 15, 2017. Early adoption is permitted. We are currently evaluating the impact of this new guidance. In October 2016, the FASB issued guidance where a reporting entity will need to evaluate if it should consolidate a VIE. The amendments change the evaluation of whether a reporting entity is the primary beneficiary of a VIE by changing how a single decision maker of a VIE treats indirect interests in the entity held through related parties that are under common control with the reporting entity. The revised guidance is effective for reporting periods beginning after December 15, 2016. Early adoption is permitted. The Company is currently evaluating the impact of this new guidance. In November 2016, the FASB issued guidance on the classification of restricted cash in the statement of cash flows. The amendment requires restricted cash to be included in the beginning-of-period and end-of-period total cash amounts. Therefore, transfers between cash and restricted cash will no longer be shown on the statement of cash flows. The guidance is effective for reporting periods beginning after December 15, 2017. Early adoption is permitted. The Company is currently evaluating the impact of this new guidance. In January 2017, the FASB issued guidance that revises the definition of a business. This new guidance is applicable when evaluating whether an acquisition should be treated as either a business acquisition or an asset acquisition. Under the revised guidance, when substantially all of the fair value of gross assets acquired is concentrated in a single asset or group of similar assets, the assets acquired would not be considered a business. The revised guidance is effective for reporting periods beginning after December 15, 2017, and the amendments will be applied prospectively. Early application is permitted only for transactions that have not previously been reported in issued financial statements. The Company has assessed this revised guidance and expects, based on historical acquisitions, that future properties acquired will qualify as an asset acquisition rather than a business acquisition, which would result in the capitalization of related transaction costs. The Company has not adopted this guidance as of December 31, 2016 .

Summary of Significant Accoun28

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Schedule of Components of Income Tax Benefit (Expense)	The following table details the composition of the Company's tax benefit (expense) for the years ended December 31, 2016 , 2015 and 2014 , which includes federal and state income taxes incurred by the Company's TRS entity. The Company estimated its income tax benefit (expense) relating to its TRS entity using a combined federal and state rate of approximately 40.0% and 40.2% for the years ended December 31, 2016 and 2015 , respectively. These income taxes are reflected in income tax benefit (expense) on the accompanying consolidated statements of operations and comprehensive loss. Year Ended December 31, 2016 2015 2014 (In thousands) Current Deferred Current Deferred Current Deferred Federal benefit (expense) $ 2,103 $ (237 ) $ 1,667 $ 762 $ (450 ) $ — State benefit (expense) 308 (90 ) 358 191 (115 ) — Total $ 2,411 $ (327 ) $ 2,025 $ 953 $ (565 ) $ —
Summary of Distributions	The following table details from a tax perspective the portion of distributions classified as a return of capital, capital gain dividend income and ordinary dividend income, per share per annum, for the years ended December 31, 2016 , 2015 and 2014 : Year Ended December 31, 2016 2015 2014 Return of capital 86.8 % $ 1.47 97.9 % $ 1.66 93.7 % $ 1.59 Capital gain dividend income 0.5 % 0.01 0.3 % 0.01 — % — Ordinary dividend income 12.7 % 0.22 1.8 % 0.03 6.3 % 0.11 Total 100.0 % $ 1.70 100.0 % $ 1.70 100.0 % $ 1.70

Real Estate Investments (Tables

Real Estate Investments (Tables)	12 Months Ended
	Dec. 31, 2016
Real Estate Investments, Net [Abstract]
Schedule of Business Acquisitions, by Acquisition	The following table presents the allocation of the assets acquired and capitalized construction in progress during the year s ended December 31, 2016 , 2015 and 2014 : Year Ended December 31, (Dollar amounts in thousands) 2016 2015 2014 Real estate investments, at cost: Land $ — $ 79,329 $ 109,679 Buildings, fixtures and improvements — 519,185 1,325,721 Construction in progress 38,746 21,309 — Total tangible assets 38,746 619,823 1,435,400 Acquired intangible assets and liabilities: In-place leases — 62,584 145,464 Market lease and other intangible assets — 3,223 34,877 Market lease liabilities — (10,064 ) (19,837 ) Total assets and liabilities acquired, net 38,746 675,566 1,595,904 Mortgage notes payable assumed to acquire real estate investments — (100,058 ) (66,321 ) Premiums on mortgages assumed — (1,492 ) (3,533 ) Other assets and liabilities, net (1) — (882 ) (9,040 ) Deposits to acquire real estate investments — (3,000 ) — OP units issued to acquire real estate investments — — (10,148 ) Cash paid for acquired real estate investments $ 38,746 $ 570,134 $ 1,506,862 Number of properties purchased — 48 111 _______________ (1) Other assets and liabilities, net includes $0.9 million in tenant security deposits assumed at acquisition for properties acquired during the year ended December 31, 2015 . Other assets and liabilities, net includes $4.2 million in tenant security deposits assumed at acquisition for properties acquired and a $4.8 million capital lease obligation incurred in conjunction with the transaction described below during the year ended December 31, 2014 .
Schedule of Future Minimum Rental Payments for Operating Leases	The following table presents future minimum base rental cash payments due to the Company over the next five years and thereafter as of December 31, 2016 . These amounts exclude contingent rent payments, as applicable, that may be collected from certain tenants based on provisions related to performance thresholds and increases in annual rent based on exceeding certain economic indexes, among other items. (In thousands) Future Minimum 2017 $ 89,354 2018 85,075 2019 78,957 2020 73,650 2021 68,597 Thereafter 395,582 Total $ 791,215
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas	The following table lists the states where the Company had concentrations of properties where annualized rental income on a straight-line basis represented 10% or more of consolidated annualized rental income on a straight-line basis for all properties as of December 31, 2016 , 2015 and 2014 : December 31, State 2016 2015 2014 Florida 19.3% 18.6% 24.6% Georgia 10.2% * * Iowa 10.5% 10.1% 13.9% Pennsylvania 12.0% 11.4% 15.2% _______________ * State's annualized rental income on a straight-line basis was not greater than 10% of total annualized rental income for all portfolio properties as of the period specified.
Schedule of Acquired Finite-Lived Intangible Assets by Major Class	Acquired intangible assets and liabilities consisted of the following as of the periods presented: December 31, 2016 December 31, 2015 (In thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets: In-place leases $ 195,940 $ 115,641 $ 80,299 $ 202,608 $ 82,390 $ 120,218 Intangible market lease assets 28,220 5,798 22,422 28,262 3,393 24,869 Other intangible assets 10,589 574 10,015 10,589 309 10,280 Total acquired intangible assets $ 234,749 $ 122,013 $ 112,736 $ 241,459 $ 86,092 $ 155,367 Intangible market lease liabilities $ 25,614 $ 5,427 $ 20,187 $ 25,613 $ 2,619 $ 22,994
Schedule of Finite-Lived Intangible Assets	The following table discloses amounts recognized within the consolidated statements of operations and comprehensive loss related to amortization of in-place leases and other intangible assets, amortization and accretion of above- and below-market lease assets and liabilities, net and the accretion of above-market ground leases, for the periods presented: Year Ended December 31, (In thousands) 2016 2015 2014 Amortization of in-place leases and other intangible assets (1) $ 38,754 $ 75,481 17,885 Amortization and (accretion) of above- and below-market leases, net (2) (209 ) (359 ) 604 Amortization of above- and below-market ground leases, net (3) 172 199 29 _______________ (1) Reflected within depreciation and amortization expense (2) Reflected within rental income (3) Reflected within property operating and maintenance expense
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The following table provides the projected amortization and property operating and maintenance expense and adjustments to revenues for the next five years: (In thousands) 2017 2018 2019 2020 2021 In-place lease assets $ 15,539 $ 13,280 $ 10,732 $ 8,795 $ 7,251 Other intangible assets 265 265 265 265 265 Total to be added to amortization expense $ 15,804 $ 13,545 $ 10,997 $ 9,060 $ 7,516 Above-market lease assets $ (1,877 ) $ (1,357 ) $ (1,068 ) $ (741 ) $ (532 ) Below-market lease liabilities 2,089 1,860 1,580 1,423 1,274 Total to be added to rental income $ 212 $ 503 $ 512 $ 682 $ 742 Below-market ground lease assets $ 212 $ 212 $ 212 $ 212 $ 212 Above-market ground lease liabilities (40 ) (40 ) (40 ) (40 ) (40 ) Total to be added to property operating and maintenance expense $ 172 $ 172 $ 172 $ 172 $ 172
Real Estate Sales	The following table summarizes the three properties sold during the year ended December 31, 2016 . The Company did not sell any properties during the year s ended December 31, 2015 and 2014 . Property (In thousands) Disposition Date Contract Sale Price Gain (Impairment) on Sale, Net Gregory Ridge Living Center - Kansas City, MO June 1, 2016 $ 4,300 $ (126 ) Parkway Health Care Center - Kansas City, MO June 1, 2016 4,450 (263 ) Redwood Radiology and Outpatient Center - Santa Rosa, CA September 30, 2016 17,500 1,330 Total 26,250 $ 941 Less: disposal costs (360 ) Proceeds from sales of real estate investments $ 25,890

Investment Securities (Tables)

Investment Securities (Tables)	12 Months Ended
	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-sale Securities Reconciliation	The following table details the unrealized gains and losses on investment securities as of December 31, 2015 : (In thousands) Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value December 31, 2015 Equity securities $ 1,084 $ 19 $ (25 ) $ 1,078

Mortgage Notes Payable (Tables)

Mortgage Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The following table reflects the Company's mortgage notes payable as of December 31, 2016 and 2015 : Portfolio Encumbered Properties Outstanding Loan Amount as of December 31, Effective Interest Rate Interest Rate Maturity 2016 2015 (In thousands) (In thousands) Bowie Gateway Medical Center - Bowie, MD — $ — $ 5,969 6.18 % Fixed Sep. 2016 Medical Center of New Windsor - New Windsor, NY 1 8,602 8,720 6.39 % Fixed Sep. 2017 Plank Medical Center - Clifton Park, NY 1 3,414 3,461 6.39 % Fixed Sep. 2017 Cushing Center - Schenectady, NY — — 4,184 5.71 % Fixed Feb. 2016 Countryside Medical Arts - Safety Harbor, FL 1 5,904 5,992 6.07 % Fixed (1) Apr. 2019 St. Andrews Medical Park - Venice, FL 3 6,526 6,623 6.07 % Fixed (1) Apr. 2019 Campus at Crooks & Auburn Building C - Rochester Hills, MI — — 3,555 5.91 % Fixed Apr. 2016 Slingerlands Crossing Phase I - Bethlehem, NY 1 6,589 6,680 6.39 % Fixed Sep. 2017 Slingerlands Crossing Phase II - Bethlehem, NY 1 7,671 7,777 6.39 % Fixed Sep. 2017 Benedictine Cancer Center - Kingston, NY 1 6,719 6,811 6.39 % Fixed Sep. 2017 Aurora Healthcare Center Portfolio - WI 6 30,858 31,257 6.55 % Fixed Jan. 2018 Palm Valley Medical Plaza - Goodyear, AZ 1 3,428 3,525 4.21 % Fixed Jun. 2023 Medical Center V - Peoria, AZ 1 3,151 3,232 4.75 % Fixed Sep. 2023 Courtyard Fountains - Gresham, OR 1 24,820 24,999 3.82 % Fixed (2) Jan. 2020 Fox Ridge Bryant - Bryant, AR 1 7,698 7,825 3.98 % Fixed May 2047 Fox Ridge Chenal - Little Rock, AR 1 17,540 17,800 3.98 % Fixed May 2049 Fox Ridge North Little Rock - North Little Rock, AR 1 10,884 11,045 3.98 % Fixed May 2049 Gross mortgage notes payable 21 143,804 159,455 5.26 % (3) Deferred financing costs, net of accumulated amortization (1,516 ) (2,150 ) Mortgage notes payable, net of deferred financing costs $ 142,288 $ 157,305 _______________ (1) Fixed interest rate through May 10, 2017. Interest rate changes to variable rate starting in June 2017. (2) Interest only payments through July 1, 2016. Principal and interest payments began in August 2016. (3) Calculated on a weighted average basis for all mortgages outstanding as of December 31, 2016 .
Schedule of Maturities of Long-term Debt	The following table summarizes the scheduled aggregate principal payments on mortgage notes payable for the five years subsequent to December 31, 2016 : (In thousands) Future Principal Payments 2017 $ 34,832 2018 31,893 2019 13,324 2020 24,279 2021 892 Thereafter 38,584 Total $ 143,804

Fair Value of Financial Instr32

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis	The following table presents information about the Company's assets measured at fair value on a recurring basis as of December 31, 2016 and 2015 , aggregated by the level in the fair value hierarchy within which those instruments fall. (In thousands) Quoted Prices in Active Markets Level 1 Significant Other Observable Inputs Level 2 Significant Unobservable Inputs Level 3 Total December 31, 2016 Interest rate caps $ — $ 61 $ — $ 61 December 31, 2015 Investment securities $ 1,078 $ — $ — $ 1,078
Fair Value, by Balance Sheet Grouping	The fair values of the Company's remaining financial instruments that are not reported at fair value on the consolidated balance sheets are reported below: Carrying Amount (1) at Fair Value at Carrying Amount (1) at Fair Value at (In thousands) Level December 31, December 31, December 31, December 31, Mortgage notes payable 3 $ 144,270 $ 144,261 $ 161,858 $ 162,654 Revolving Credit Facility 3 $ 421,500 $ 421,500 $ 430,000 $ 430,000 Fannie Credit Facilities 3 $ 60,000 $ 60,000 $ — $ — _______________________________ (1) Carrying value includes mortgage notes payable of $143.8 million and $159.5 million and mortgage premiums and discounts, net of $0.5 million and $2.4 million as of December 31, 2016 and December 31, 2015 , respectively.

Derivatives and Hedging Activ33

Derivatives and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Derivative Instruments	As of December 31, 2016 , the Company had the following outstanding interest rate derivatives that were not designated as a hedge of interest rate risk. The Company had not entered into any derivative contracts as of December 31, 2015 . December 31, 2016 Interest Rate Derivative Number of Instruments Notional Amount (In thousands) Interest rate caps 2 $ 30
Schedule of Interest Rate Derivatives	The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the balance sheet as of December 31, 2016 . The Company had not entered into any derivative contracts as of December 31, 2015 . (In thousands) Balance Sheet Location December 31, 2016 Derivatives not designated as hedging instruments: Interest rate caps Non-designated derivatives assets, at fair value $ 61

Common Stock (Tables)

Common Stock (Tables)	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Class of Treasury Stock	Shares purchased under the SRP will have the status of authorized but unissued shares. The following table reflects the number of shares repurchased cumulatively through December 31, 2016 : Number of Shares Repurchased Average Price per Share Cumulative repurchases as of December 31, 2015 (1) 968,370 $ 23.72 Year ended December 31, 2016 (2) 6,660 24.36 Cumulative repurchases as of December 31, 2016 (2) 975,030 $ 23.73 _____________________________ (1) Excludes rejected repurchases of 201,367 shares for $4.6 million at an average price per share of $23.04 , which were unfulfilled as of December 31, 2015. (2) As permitted under the SRP, in March 2017, the Company's board of directors authorized, with respect to repurchase requests received during the year ended December 31, 2016 , the repurchase of shares validly submitted for repurchase in an amount equal to 1.5% of the weighted average number of shares of common stock outstanding during the fiscal year ended December 31, 2015 , representing less than all the shares validly submitted for repurchase during the year ended December 31, 2016 . Accordingly, 1.3 million shares for $27.5 million at an average price per share of $21.61 (including all shares submitted for death or disability) were approved for repurchase, with repurchases to be completed in March 2017 , while repurchase requests of 2.3 million shares for $48.7 million at an average price per share of $21.27 were rejected. Repurchases completed during the year ended December 31, 2016 include 6,660 shares which represent unaccrued repurchases for the year ended December 31, 2015 that were finalized in January 2016.

Related Party Transactions an35

Related Party Transactions and Arrangements (Tables)	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Schedule of Amount Contractually Due and Forgiven in Connection With Operation Related Services	The following table details amounts incurred, forgiven and payable in connection with the Company's operations-related services described above as of and for the periods presented: Year Ended December 31, Payable (Receivable) as of 2016 2015 2014 December 31, (In thousands) Incurred Forgiven Incurred Forgiven Incurred Forgiven 2016 2015 One-time fees and reimbursements: Acquisition fees $ — $ — $ 6,878 $ — $ 15,936 $ — $ — $ — Acquisition cost reimbursements — — 3,439 — 7,968 — — — Financing coordination fees 450 — 3,863 — 1,997 — — — Ongoing fees and reimbursements: Asset management fees (1) 17,566 — 10,889 — — — — (5 ) Property management fees 3,017 — 1,302 1,220 — 617 (163 ) (10 ) Professional fees and reimbursements 4,492 — 4,558 — 364 — 1,025 499 Strategic advisory fees — — — — 605 — — — Distributions on Class B Units 611 — 490 — 47 — — 52 Total related party operation fees and reimbursements $ 26,136 $ — $ 31,419 $ 1,220 $ 26,917 $ 617 $ 862 $ 536 _______________ (1) Prior to April 1, 2015, the Company caused the OP to issue (subject to periodic approval by the Board) to the Advisor restricted performance based Class B Units for asset management services. As of December 31, 2016 , the Board had approved the issuance of 359,250 Class B Units to the Advisor in connection with this arrangement. Effective April 1, 2015, in connection with the Amendment, the Company began paying an asset management fee to the Advisor or its assignees in cash, in shares, or a combination of both and no longer issues any Class B Units.

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Restricted Share Award Activity	The following table reflects restricted share award activity for the period presented: Number of Common Shares Weighted-Average Issue Price Unvested, December 31, 2013 3,999 $ 22.50 Granted 3,999 22.50 Vested (800 ) 22.50 Forfeitures — — Unvested, December 31, 2014 7,198 22.50 Granted 7,998 22.50 Vested (1,066 ) 22.50 Forfeitures (2,399 ) 22.50 Unvested, December 31, 2015 11,731 22.50 Granted 6,735 22.27 Vested (7,212 ) 22.50 Forfeitures (1,333 ) 22.50 Unvested, December 31, 2016 9,921 $ 22.42

Accumulated Other Comprehensi37

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table illustrates the changes in accumulated other comprehensive income (loss) as of and for the period presented: (In thousands) Unrealized Gains (Losses) on Available-for-Sale Securities Balance, December 31, 2013 $ — Other comprehensive income, before reclassifications 471 Amounts reclassified from accumulated other comprehensive income (1) (8 ) Balance, December 31, 2014 463 Other comprehensive loss, before reclassifications (23 ) Amounts reclassified from accumulated other comprehensive income (1) (446 ) Balance, December 31, 2015 (6 ) Other comprehensive income, before reclassifications 62 Amounts reclassified from accumulated other comprehensive income (1) (56 ) Balance, December 31, 2016 $ — __________________ (1) During the year s ended December 31, 2016 , 2015 and 2014 , the Company sold its investments in securities, resulting in realized gains of $0.1 million , $0.4 million and approximately $8,000 , which are included in gain on sale of investment securities on the consolidated statement of operations and comprehensive loss.

Non-Controlling Interests (Tabl

Non-Controlling Interests (Tables)	12 Months Ended
	Dec. 31, 2016
Noncontrolling Interest [Abstract]
Schedule related to Investment Arrangements with Unaffiliated Third Party	The following table summarizes the activity related to investment arrangements with the unaffiliated third party. No distributions of net cash flow from operations were made related to these investment arrangements during the year s ended December 31, 2015 and December 31, 2014 . As of December 31, 2016 As of December 31, 2015 Property Name (Dollar amounts in thousands) Investment Date Third Party Net Investment Amount as of December 31, 2016 Non-Controlling Ownership Percentage as of December 31, 2016 Net Real Estate Assets Subject to Investment Arrangement Mortgage Notes Payable Subject to Investment Arrangement Net Real Estate Assets Subject to Investment Arrangement Mortgage Notes Payable Subject to Investment Arrangement Distributions (1) for the Year Ended December 31, 2016 Plaza Del Rio Medical Office Campus Portfolio - Peoria, AZ May 2015 $ 439 4.1 % $ 10,429 $ — $ 10,561 $ — $ 40 _______________ (1) Represents distributions to unaffiliated third party investors of net cash flows from operations of the properties subject to the investment arrangements.

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following is a summary of the basic and diluted net loss per share computation for the year s ended December 31, 2016 , 2015 and 2014 : Year Ended December 31, 2016 2015 2014 Net loss attributable to stockholders (in thousands) $ (20,874 ) $ (41,741 ) $ (37,678 ) Basic and diluted weighted-average shares outstanding 87,878,907 85,331,966 51,234,729 Basic and diluted net loss per share $ (0.24 ) $ (0.49 ) $ (0.74 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The Company had the following potentially dilutive securities as of December 31, 2016 , 2015 and 2014 , which were excluded from the calculation of diluted loss per share attributable to stockholders as the effect would have been antidilutive: December 31, 2016 2015 2014 Unvested restricted stock 9,921 11,731 7,198 OP Units 405,998 405,998 405,998 Class B units 359,250 359,250 107,885 Total common share equivalents 775,169 776,979 521,081

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables reconcile the segment activity to consolidated net loss for the year s ended December 31, 2016 , 2015 and 2014 : Year Ended December 31, 2016 (In thousands) Medical Office Buildings Triple-Net Leased Healthcare Facilities Seniors Housing — Operating Properties Consolidated Revenues: Rental income $ 65,994 $ 37,374 $ 7 $ 103,375 Operating expense reimbursements 14,927 949 — 15,876 Resident services and fee income — — 183,177 183,177 Total revenues 80,921 38,323 183,184 302,428 Property operating and maintenance 23,814 18,812 129,451 172,077 NOI $ 57,107 $ 19,511 $ 53,733 130,351 Contingent purchase price consideration 138 Impairment on sale of real estate investments (389 ) Operating fees to related parties (20,583 ) Acquisition and transaction related (3,163 ) General and administrative (12,105 ) Depreciation and amortization (98,886 ) Interest expense (19,881 ) Interest and other income 47 Gain on non-designated derivative instruments 31 Gain on sale of real estate investment 1,330 Gain on sale of investment securities 56 Income tax benefit (expense) 2,084 Net loss attributable to non-controlling interests 96 Net loss attributable to stockholders $ (20,874 ) Year Ended December 31, 2015 (In thousands) Medical Office Buildings Triple-Net Leased Healthcare Facilities Seniors Housing — Operating Properties Consolidated Revenues: Rental income $ 56,165 $ 37,053 $ — $ 93,218 Operating expense reimbursements 12,611 148 — 12,759 Resident services and fee income — — 140,901 140,901 Total revenues 68,776 37,201 140,901 246,878 Property operating and maintenance 20,334 6,706 98,533 125,573 NOI $ 48,442 $ 30,495 $ 42,368 121,305 Contingent purchase price consideration 612 Operating fees to related parties (12,191 ) Acquisition and transaction related (14,679 ) General and administrative (9,733 ) Depreciation and amortization (120,924 ) Interest expense (10,356 ) Interest and other income 582 Gain on sale of investment securities 446 Income tax benefit (expense) 2,978 Net loss attributable to non-controlling interests 219 Net loss attributable to stockholders $ (41,741 ) Year Ended December 31, 2014 (In thousands) Medical Office Buildings Triple-Net Leased Healthcare Facilities Seniors Housing — Operating Properties Consolidated Revenues: Rental income $ 13,955 $ 9,050 $ — $ 23,005 Operating expense reimbursements 3,532 53 — 3,585 Resident services and fee income — — 31,849 31,849 Total revenues 17,487 9,103 31,849 58,439 Property operating and maintenance 4,765 79 21,873 26,717 NOI $ 12,722 $ 9,024 $ 9,976 31,722 Acquisition and transaction related (33,623 ) General and administrative (3,541 ) Depreciation and amortization (28,889 ) Interest expense (3,559 ) Interest and other income 735 Gain on sale of investment securities 8 Income tax benefit (expense) (565 ) Net loss attributable to non-controlling interests 34 Net loss attributable to stockholders $ (37,678 ) The following table reconciles the segment activity to consolidated total assets as of the periods presented: December 31, (In thousands) 2016 2015 ASSETS Investments in real estate, net: Medical office buildings $ 788,023 $ 839,041 Triple-net leased healthcare facilities 418,819 447,893 Construction in progress 70,055 31,309 Seniors housing — operating properties 837,338 876,359 Total investments in real estate, net 2,114,235 2,194,602 Cash and cash equivalents 29,225 24,474 Restricted cash 3,962 4,647 Investment securities, at fair value — 1,078 Non-designated derivative assets, at fair value 61 — Straight-line rent receivable, net 12,026 11,470 Prepaid expenses and other assets 22,073 21,707 Deferred costs, net 12,123 11,864 Total assets $ 2,193,705 $ 2,269,842 The following table reconciles capital expenditures by reportable business segment, excluding corporate non-real estate expenditures, for the periods presented: Year Ended December 31, (In thousands) 2016 2015 2014 Medical office buildings $ 3,198 $ 2,129 $ 609 Triple-net leased healthcare facilities 112 540 — Seniors housing — operating properties 4,165 2,701 134 Total capital expenditures $ 7,475 $ 5,370 $ 743

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	The following table reflects the minimum base cash rental payments due from the Company over the next five years and thereafter under these arrangements, including the present value of the net minimum payment due under capital leases. These amounts exclude contingent rent payments, as applicable, that may be payable based on provisions related to increases in annual rent based on exceeding certain economic indexes among other items. Future Minimum Base Rent Payments (In thousands) Operating Leases Capital Leases 2017 $ 664 $ 76 2018 668 78 2019 673 80 2020 671 82 2021 658 84 Thereafter 32,571 7,764 Total minimum lease payments $ 35,905 8,164 Less: amounts representing interest (3,351 ) Total present value of minimum lease payments $ 4,813

Quarterly Results (Unaudited) (

Quarterly Results (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2016 , 2015 and 2014 : (In thousands, except for share and per share data) March 31, June 30, September 30, December 31, Total revenues $ 75,509 $ 75,857 $ 75,521 $ 75,679 Net loss attributable to stockholders $ (1,555 ) $ (3,000 ) $ (8,664 ) $ (7,655 ) Basic and diluted weighted average shares outstanding 86,658,678 87,465,569 88,285,390 89,088,233 Basic and diluted loss per share $ (0.02 ) $ (0.03 ) $ (0.10 ) $ (0.09 ) (In thousands, except for share and per share data) March 31, June 30, September 30, December 31, Total revenues $ 57,121 $ 59,516 $ 64,030 $ 66,373 Net loss attributable to stockholders $ (5,220 ) $ (13,421 ) $ (16,108 ) $ (6,992 ) Basic and diluted weighted average shares outstanding 84,250,503 84,992,633 85,705,595 86,351,934 Basic and diluted loss per share $ (0.06 ) $ (0.16 ) $ (0.19 ) $ (0.08 ) (In thousands, except for share and per share data) March 31, June 30, September 30, December 31, Total revenues $ 1,387 $ 2,869 $ 11,818 $ 42,365 Net loss attributable to stockholders $ (582 ) $ (4,147 ) $ (20,023 ) $ (12,926 ) Basic and diluted weighted average shares outstanding 13,623,545 35,127,969 71,813,126 83,381,570 Basic and diluted loss per share $ (0.04 ) $ (0.12 ) $ (0.28 ) $ (0.16 )

Organization (Details)

Organization (Details) $ / shares in Units, ft² in Millions	12 Months Ended			26 Months Ended	39 Months Ended	51 Months Ended
	Dec. 31, 2016USD ($)ft²propertystate$ / shares	Dec. 31, 2015USD ($)$ / shares	Dec. 31, 2014USD ($)	Nov. 30, 2014USD ($)	Dec. 31, 2015USD ($)$ / shares	Dec. 31, 2016USD ($)ft²propertystate$ / shares	Feb. 28, 2013USD ($)$ / shares
Class of Stock [Line Items]
Number of real estate properties | property	163					163
Number of states properties are located in | state	29					29
Area of real estate property | ft²	8.4					8.4
Common stock, par value, in dollars per share | $ / shares	$ 0.01	$ 0.01			$ 0.01	$ 0.01	$ 0.01
Proceeds from issuance of common stock	$ 0	$ 6,000	$ 1,853,231,000		$ 2,100,000,000	$ 2,200,000,000
Proceeds received under DRIP						$ 195,000,000
Common Stock
Class of Stock [Line Items]
Share Price (in dollars per share) | $ / shares							$ 25
DRIP share price (in dollars per share) | $ / shares	$ 23.75					$ 23.75
Share price percentage of IPO	95.00%					95.00%
IPO
Class of Stock [Line Items]
Stock available for issuance under DRIP							$ 1,700,000,000
Proceeds from issuance of common stock				$ 2,000,000,000

Summary of Significant Accoun44

Summary of Significant Accounting Policies (Narrative) (Details)	12 Months Ended
	Dec. 31, 2016USD ($)community	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Schedule of Shares Repurchased [Line Items]
Money market funds	$ 10,000	$ 22,000
Cash and cash equivalents	29,225,000	24,474,000	$ 182,617,000	$ 111,833,000
Cash in excess of FDIC limit	16,100,000	12,200,000
Deferred financing costs, net of accumulated amortization	10,700,000	11,500,000
Accumulated amortization, deferred financing costs	6,700,000	3,100,000
Deferred leasing costs, net	1,400,000	400,000
Deferred leasing costs, accumulated amortization	$ 200,000	100,000
Number of senior housing communities | community	38
Deferred tax asset, net	$ 5,200,000	2,900,000
Valuation allowance	$ 0	$ 0
Effective income tax rate	40.00%	40.20%
Maximum
Schedule of Shares Repurchased [Line Items]
Liability for offering and related costs from IPO	2.00%
Aggregate offering costs	12.00%
Building
Schedule of Shares Repurchased [Line Items]
Useful life	40 years
Land Improvements
Schedule of Shares Repurchased [Line Items]
Useful life	15 years
Fixtures and improvements
Schedule of Shares Repurchased [Line Items]
Useful life	5 years
ASU 2015-03 | Deferred costs
Schedule of Shares Repurchased [Line Items]
Deferred financing costs, net of accumulated amortization		$ (2,000,000)
ASU 2015-03 | Mortgage notes payable
Schedule of Shares Repurchased [Line Items]
Deferred financing costs, net of accumulated amortization	$ 2,200,000

Summary of Significant Accoun45

Summary of Significant Accounting Policies (Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accounting Policies [Abstract]
Current federal benefit (expense)	$ 2,103	$ 1,667	$ (450)
Current state benefit (expense)	308	358	(115)
Current benefit (expense)	2,411	2,025	(565)
Deferred federal benefit (expense)	(237)	762	0
Deferred state benefit (expense)	(90)	191	0
Deferred benefit (expense)	$ (327)	$ 953	$ 0

Summary of Significant Accoun46

Summary of Significant Accounting Policies (Distributions) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Dividends Payable [Line Items]
Dividends, percent	100.00%	100.00%	100.00%
Dividends paid (in usd per share)	$ 1.70	$ 1.70	$ 1.70
Return of capital
Dividends Payable [Line Items]
Dividends, percent	86.80%	97.90%	93.70%
Dividends paid (in usd per share)	$ 1.47	$ 1.66	$ 1.59
Capital gain dividend income
Dividends Payable [Line Items]
Dividends, percent	0.50%	0.30%	0.00%
Dividends paid (in usd per share)	$ 0.01	$ 0.01	$ 0
Ordinary dividend income
Dividends Payable [Line Items]
Dividends, percent	12.70%	1.80%	6.30%
Dividends paid (in usd per share)	$ 0.22	$ 0.03	$ 0.11

Real Estate Investments (Narrat

Real Estate Investments (Narrative) (Details) $ in Thousands	Dec. 15, 2015USD ($)	Dec. 03, 2014USD ($)	Dec. 31, 2016USD ($)property	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)property
Business Acquisition [Line Items]
Number of real estate properties | property			163
Acquisition and transaction related			$ 3,163	$ 14,679	$ 33,623
Future minimum payments			$ 8,164
Number of properties | property			3
Wellington Senior Housing Community
Business Acquisition [Line Items]
Contract purchase price		$ 95,000
Renaissance on Peachtree - Atlanta
Business Acquisition [Line Items]
Contract purchase price	$ 78,600
2014 Acquisitions with Capital Leases
Business Acquisition [Line Items]
Number of properties purchased | property					8
Leasehold interests to buildings, fixtures and improvements, capital leases					$ 144,400
Future minimum payments			$ 119,300
In-place leases | 2014 Acquisitions with Capital Leases
Business Acquisition [Line Items]
Finite lived intangible assets acquired, capital leases					$ 34,100
Acquisition and Transaction Related Line Items [Member] | Wellington Senior Housing Community
Business Acquisition [Line Items]
Acquisition and transaction related		$ 2,700
Acquisition and Transaction Related Line Items [Member] | Renaissance on Peachtree - Atlanta
Business Acquisition [Line Items]
Acquisition and transaction related	$ 1,300

Real Estate Investments (Acquir

Real Estate Investments (Acquired Assets) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)property	Dec. 31, 2015USD ($)property	Dec. 31, 2014USD ($)property
Real estate investments
Deposits to acquire real estate investments	$ 0	$ 1,000	$ (3,650)
Tenant security deposits assumed		900	4,200
Capital lease obligation assumed			4,800
Business acquisitions
Real estate investments
Land	0	79,329	109,679
Buildings, fixtures and improvements	0	519,185	1,325,721
Construction in progress	38,746	21,309	0
Total tangible assets	38,746	619,823	1,435,400
Market lease liabilities	0	(10,064)	(19,837)
Total assets and liabilities acquired, net	38,746	675,566	1,595,904
Mortgage notes payable assumed to acquire real estate investments	0	(100,058)	(66,321)
Premiums on mortgages assumed	0	(1,492)	(3,533)
Other assets and liabilities, net	0	(882)	(9,040)
Deposits to acquire real estate investments	0	(3,000)	0
OP units issued to acquire real estate investments	0	0	(10,148)
Cash paid for acquired real estate investments	$ 38,746	$ 570,134	$ 1,506,862
Number of properties purchased | property	0	48	111
Business acquisitions | In-place leases
Real estate investments
Acquired intangible assets and liabilities:	$ 0	$ 62,584	$ 145,464
Business acquisitions | Market lease and other intangible assets
Real estate investments
Acquired intangible assets and liabilities:	$ 0	$ 3,223	$ 34,877

Real Estate Investments (Future

Real Estate Investments (Future Minimum Payments) (Details) $ in Thousands	Dec. 31, 2016USD ($)
Business Combinations [Abstract]
2,017	$ 89,354
2,018	85,075
2,019	78,957
2,020	73,650
2,021	68,597
Thereafter	395,582
Total	$ 791,215

Real Estate Investments (Geogra

Real Estate Investments (Geographic Concentrations) (Details) - Geographic Concentration Risk - Sales Revenue, Net	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Florida
Concentration Risk [Line Items]
Concentration risk, percentage	19.30%	18.60%	24.60%
Georgia
Concentration Risk [Line Items]
Concentration risk, percentage	10.20%
Iowa
Concentration Risk [Line Items]
Concentration risk, percentage	10.50%	10.10%	13.90%
Pennsylvania
Concentration Risk [Line Items]
Concentration risk, percentage	12.00%	11.40%	15.20%

Real Estate Investments (Summar

Real Estate Investments (Summary of Intangible Lease Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Intangible assets:
Gross Carrying Amount	$ 234,749	$ 241,459
Accumulated Amortization	122,013	86,092
Net Carrying Amount	112,736	155,367
Intangible market lease liabilities
Gross Carrying Amount	25,614	25,613
Accumulated Amortization	5,427	2,619
Net Carrying Amount	20,187	22,994
In-place leases
Intangible assets:
Gross Carrying Amount	195,940	202,608
Accumulated Amortization	115,641	82,390
Net Carrying Amount	80,299	120,218
Intangible market lease assets
Intangible assets:
Gross Carrying Amount	28,220	28,262
Accumulated Amortization	5,798	3,393
Net Carrying Amount	22,422	24,869
Other intangible assets
Intangible assets:
Gross Carrying Amount	10,589	10,589
Accumulated Amortization	574	309
Net Carrying Amount	$ 10,015	$ 10,280

Real Estate Investments (Summ52

Real Estate Investments (Summary of Amortization and Accretion Recognized) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Amortization of above- and below-market ground leases, net	$ 168	$ (101)	$ 638
Depreciation and Amortization Expense | In-place leases and other intangible assets
Finite-Lived Intangible Assets [Line Items]
Amortization/accretion of market least intangibles	38,754	75,481	17,885
Rental Income | Above- and below-market leases, net
Finite-Lived Intangible Assets [Line Items]
Amortization of above- and below-market ground leases, net	(209)	(359)	604
Property Operating and Maintenance Expense | Above-market ground leases
Finite-Lived Intangible Assets [Line Items]
Amortization/accretion of market least intangibles	$ 172	$ 199	$ 29

Real Estate Investments (Summ53

Real Estate Investments (Summary of Intangible Assets and Liabilities Future Amortization Expense) (Details) $ in Thousands	Dec. 31, 2016USD ($)
Amortization Expense
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, amortization expense, 2017	$ 15,804
Finite-lived intangible assets, amortization expense, 2018	13,545
Finite-lived intangible assets, amortization expense, 2019	10,997
Finite-lived intangible assets, amortization expense, 2020	9,060
Finite-lived intangible assets, amortization expense, 2021	7,516
Rental Income
Finite-Lived Intangible Assets [Line Items]
Below market leases, amortization income, 2017	212
Below market leases, amortization income, 2018	503
Below market leases, amortization income, 2019	512
Below market leases, amortization income, 2020	682
Below market leases, amortization income, 2021	742
Property Operating and Maintenance Expense
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, amortization expense, 2017	172
Finite-lived intangible assets, amortization expense, 2018	172
Finite-lived intangible assets, amortization expense, 2019	172
Finite-lived intangible assets, amortization expense, 2020	172
Finite-lived intangible assets, amortization expense, 2021	172
In-place leases assets | Amortization Expense
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, amortization expense, 2017	15,539
Finite-lived intangible assets, amortization expense, 2018	13,280
Finite-lived intangible assets, amortization expense, 2019	10,732
Finite-lived intangible assets, amortization expense, 2020	8,795
Finite-lived intangible assets, amortization expense, 2021	7,251
Other intangible assets | Amortization Expense
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, amortization expense, 2017	265
Finite-lived intangible assets, amortization expense, 2018	265
Finite-lived intangible assets, amortization expense, 2019	265
Finite-lived intangible assets, amortization expense, 2020	265
Finite-lived intangible assets, amortization expense, 2021	265
Above-market lease assets | Rental Income
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, amortization expense, 2017	(1,877)
Finite-lived intangible assets, amortization expense, 2018	(1,357)
Finite-lived intangible assets, amortization expense, 2019	(1,068)
Finite-lived intangible assets, amortization expense, 2020	(741)
Finite-lived intangible assets, amortization expense, 2021	(532)
Below-market lease liabilities | Rental Income
Finite-Lived Intangible Assets [Line Items]
Below market leases, amortization income, 2017	2,089
Below market leases, amortization income, 2018	1,860
Below market leases, amortization income, 2019	1,580
Below market leases, amortization income, 2020	1,423
Below market leases, amortization income, 2021	1,274
Below-market ground lease assets | Property Operating and Maintenance Expense
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, amortization expense, 2017	212
Finite-lived intangible assets, amortization expense, 2018	212
Finite-lived intangible assets, amortization expense, 2019	212
Finite-lived intangible assets, amortization expense, 2020	212
Finite-lived intangible assets, amortization expense, 2021	212
Above-market ground lease liabilities | Property Operating and Maintenance Expense
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible liability, amortization income, 2017	(40)
Finite-lived intangible liability, amortization income, 2018	(40)
Finite-lived intangible liability, amortization income, 2019	(40)
Finite-lived intangible liability, amortization income, 2020	(40)
Finite-lived intangible liability, amortization income, 2021	$ (40)

Real Estate Investments (Real E

Real Estate Investments (Real Estate Sales) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (Impairment) on Sale, Net	$ 941	$ 0	$ 0
Proceeds from sales of real estate investments	25,890	$ 0	$ 0
Disposed by sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contract Sale Price	26,250
Gain (Impairment) on Sale, Net	941
Less: disposal costs	(360)
Proceeds from sales of real estate investments	25,890
Disposed by sale | Gregory Ridge Living Center - Kansas City
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contract Sale Price	4,300
Gain (Impairment) on Sale, Net	(126)
Disposed by sale | Parkway Health Care Center - Kansas City
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contract Sale Price	4,450
Gain (Impairment) on Sale, Net	(263)
Disposed by sale | Redwood Radiology and Outpatient Center - Santa Rosa
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contract Sale Price	17,500
Gain (Impairment) on Sale, Net	$ 1,330

Investment Securities (Narrativ

Investment Securities (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Investment securities, at fair value	$ 0	$ 1,078
Gain on sale of investment securities	56	446	$ 8
Proceeds from sales of investment securities	1,140	19,278	513
Preferred stock
Schedule of Available-for-sale Securities [Line Items]
Cost basis	1,100
Gain on sale of investment securities	$ 100		$ 8
Preferred Stock, Common Stock, Real Estate Income Funds and Senior Notes
Schedule of Available-for-sale Securities [Line Items]
Cost basis		18,800
Gain on sale of investment securities		$ 400

Investment Securities (Schedule

Investment Securities (Schedule of Investments) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Fair Value	$ 0	$ 1,078
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Cost		1,084
Gross Unrealized Gains		19
Gross Unrealized Losses		(25)
Fair Value		$ 1,078

Credit Facilities (Details)

Credit Facilities (Details) - USD ($)	Oct. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Jul. 31, 2015	Jun. 26, 2015	Apr. 15, 2014	Mar. 21, 2014
Line of Credit Facility [Line Items]
Write off of deferred financing costs			$ 500,000
Credit facilities		$ 481,500,000	430,000,000
Credit Agreements | Line of Credit
Line of Credit Facility [Line Items]
Initial advances	$ 30,000,000
KeyBank Facility | Line of Credit
Line of Credit Facility [Line Items]
Interest rate	3.15%
Capital One Facility | Line of Credit
Line of Credit Facility [Line Items]
Stated interest rate	3.156%
Fannie Credit Facility | Interest rate caps
Line of Credit Facility [Line Items]
Interest rate cap	3.50%
Fannie Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Prepayment premium rate	1.00%
London Interbank Offered Rate (LIBOR) | Fannie Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Interest rate	2.62%
London Interbank Offered Rate (LIBOR) | Minimum | Fannie Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Interest rate	2.62%
Secured Debt
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 565,000,000	$ 500,000,000		$ 50,000,000
Maximum borrowing capacity under accordion feature					750,000,000	$ 200,000,000
Credit facilities		$ 421,500,000	$ 430,000,000
Effective Interest Rate		2.00%
Remaining borrowing capacity		$ 75,600,000
Secured Debt | Fannie Credit Facility
Line of Credit Facility [Line Items]
Credit facilities		$ 60,000,000
Effective Interest Rate		3.20%
Secured Debt | London Interbank Offered Rate (LIBOR) | Minimum
Line of Credit Facility [Line Items]
Interest rate		1.60%
Secured Debt | London Interbank Offered Rate (LIBOR) | Maximum
Line of Credit Facility [Line Items]
Interest rate		2.20%
Secured Debt | Base Rate | Minimum
Line of Credit Facility [Line Items]
Interest rate		0.35%
Secured Debt | Base Rate | Maximum
Line of Credit Facility [Line Items]
Interest rate		0.95%
Secured Debt | Federal Funds Effective Rate
Line of Credit Facility [Line Items]
Interest rate		0.50%
Secured Debt | One-Month LIBOR
Line of Credit Facility [Line Items]
Interest rate		1.00%
Letter of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity					$ 25,000,000

Mortgage Notes Payable (Mortgag

Mortgage Notes Payable (Mortgage Notes) (Details) $ in Thousands	Dec. 31, 2016USD ($)property	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Deferred financing costs, net of accumulated amortization	$ 10,700	$ 11,500
Mortgages
Debt Instrument [Line Items]
Encumbered Properties | property	21
Outstanding Loan Amount	$ 143,804	159,455
Effective Interest Rate	5.26%
Deferred financing costs, net of accumulated amortization	$ 1,516	2,150
Mortgage notes payable, net of deferred financing costs	$ 142,288	157,305
Bowie Gateway Medical Center - Bowie, MD | Mortgages
Debt Instrument [Line Items]
Encumbered Properties | property	0
Outstanding Loan Amount	$ 0	5,969
Effective Interest Rate	6.18%
Medical Center of New Windsor - New Windsor, NY | Mortgages
Debt Instrument [Line Items]
Encumbered Properties | property	1
Outstanding Loan Amount	$ 8,602	8,720
Effective Interest Rate	6.39%
Plank Medical Center - Clifton Park, NY | Mortgages
Debt Instrument [Line Items]
Encumbered Properties | property	1
Outstanding Loan Amount	$ 3,414	3,461
Effective Interest Rate	6.39%
Cushing Center - Schenectady, NY | Mortgages
Debt Instrument [Line Items]
Encumbered Properties | property	0
Outstanding Loan Amount	$ 0	4,184
Effective Interest Rate	5.71%
Countryside Medical Arts - Safety Harbor, FL | Mortgages
Debt Instrument [Line Items]
Encumbered Properties | property	1
Outstanding Loan Amount	$ 5,904	5,992
Effective Interest Rate	6.07%
St. Andrews Medical Park - Venice, FL | Mortgages
Debt Instrument [Line Items]
Encumbered Properties | property	3
Outstanding Loan Amount	$ 6,526	6,623
Effective Interest Rate	6.07%
Campus at Crooks & Auburn Building C - Rochester Hills, MI | Mortgages
Debt Instrument [Line Items]
Encumbered Properties | property	0
Outstanding Loan Amount	$ 0	3,555
Effective Interest Rate	5.91%
Slingerlands Crossing Phase I - Bethlehem, NY | Mortgages
Debt Instrument [Line Items]
Encumbered Properties | property	1
Outstanding Loan Amount	$ 6,589	6,680
Effective Interest Rate	6.39%
Slingerlands Crossing Phase II - Bethlehem, NY | Mortgages
Debt Instrument [Line Items]
Encumbered Properties | property	1
Outstanding Loan Amount	$ 7,671	7,777
Effective Interest Rate	6.39%
Benedictine Cancer Center - Kingston, NY | Mortgages
Debt Instrument [Line Items]
Encumbered Properties | property	1
Outstanding Loan Amount	$ 6,719	6,811
Effective Interest Rate	6.39%
Aurora Healthcare Center Portfolio WI | Mortgages
Debt Instrument [Line Items]
Encumbered Properties | property	6
Outstanding Loan Amount	$ 30,858	31,257
Effective Interest Rate	6.55%
Palm Valley Medical Plaza AZ | Mortgages
Debt Instrument [Line Items]
Encumbered Properties | property	1
Outstanding Loan Amount	$ 3,428	3,525
Effective Interest Rate	4.21%
Medical Center V - Peoria, AZ | Mortgages
Debt Instrument [Line Items]
Encumbered Properties | property	1
Outstanding Loan Amount	$ 3,151	3,232
Effective Interest Rate	4.75%
Courtyard Fountains - Gresham, OR | Mortgages
Debt Instrument [Line Items]
Encumbered Properties | property	1
Outstanding Loan Amount	$ 24,820	24,999
Effective Interest Rate	3.82%
Fox Ridge Senior Living at Bryant - Bryant | Mortgages
Debt Instrument [Line Items]
Encumbered Properties | property	1
Outstanding Loan Amount	$ 7,698	7,825
Effective Interest Rate	3.98%
Fox Ridge Senior Living at Chenal - Little Rock | Mortgages
Debt Instrument [Line Items]
Encumbered Properties | property	1
Outstanding Loan Amount	$ 17,540	17,800
Effective Interest Rate	3.98%
Fox Ridge Senior Living at Parkstone - North Little Rock | Mortgages
Debt Instrument [Line Items]
Encumbered Properties | property	1
Outstanding Loan Amount	$ 10,884	$ 11,045
Effective Interest Rate	3.98%

Mortgage Notes Payable (Narrati

Mortgage Notes Payable (Narrative) (Details) $ in Millions	Dec. 31, 2016USD ($)
Debt Disclosure [Abstract]
Real estate investments pledged as collateral	$ 261.8

Mortgage Notes Payable (Mortg60

Mortgage Notes Payable (Mortgage Principal Payments) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Total	$ 142,288	$ 157,305
Mortgages
Debt Instrument [Line Items]
2,017	34,832
2,018	31,893
2,019	13,324
2,020	24,279
2,021	892
Thereafter	38,584
Total	$ 143,804	$ 159,500

Fair Value of Financial Instr61

Fair Value of Financial Instruments (Investments) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities, at fair value	$ 0	$ 1,078
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities, at fair value		1,078
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities, at fair value		1,078
Fair Value, Measurements, Recurring | Significant Other Observable Inputs Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities, at fair value		0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities, at fair value		$ 0
Interest rate caps | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate caps	61
Interest rate caps | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate caps	0
Interest rate caps | Fair Value, Measurements, Recurring | Significant Other Observable Inputs Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate caps	61
Interest rate caps | Fair Value, Measurements, Recurring | Significant Unobservable Inputs Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate caps	$ 0

Fair Value of Financial Instr62

Fair Value of Financial Instruments (Level 3 Inputs) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage notes payable, net of deferred financing costs	$ 142,288	$ 157,305
Mortgage premiums, net	466	2,403
Mortgages
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage notes payable, net of deferred financing costs	143,804	159,500
Mortgage premiums, net	500	2,400
Significant Unobservable Inputs Level 3 | Mortgages | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value disclosure	144,270	161,858
Significant Unobservable Inputs Level 3 | Mortgages | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value disclosure	144,261	162,654
Significant Unobservable Inputs Level 3 | Revolving Credit Facility | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value disclosure	421,500	430,000
Significant Unobservable Inputs Level 3 | Revolving Credit Facility | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value disclosure	421,500	430,000
Fannie Credit Facility | Significant Unobservable Inputs Level 3 | Revolving Credit Facility | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value disclosure	60,000	0
Fannie Credit Facility | Significant Unobservable Inputs Level 3 | Revolving Credit Facility | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, fair value disclosure	$ 60,000	$ 0

Derivatives and Hedging Activ63

Derivatives and Hedging Activities (Summary of Derivative Instruments) (Details) - Not Designated as Hedging Instrument - Interest rate caps $ in Thousands	Dec. 31, 2016USD ($)instrument
Derivative [Line Items]
Number of Instruments | instrument	2
Notional Amount | $	$ 30

Derivatives and Hedging Activ64

Derivatives and Hedging Activities (Balance Sheet Location) (Details) $ in Thousands	Dec. 31, 2016USD ($)
Non-designated derivatives assets, at fair value | Not Designated as Hedging Instrument | Interest rate caps
Derivative [Line Items]
Derivative	$ 61

Common Stock (Narrative) (Detai

Common Stock (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		12 Months Ended			39 Months Ended	51 Months Ended
	Mar. 31, 2016	Apr. 30, 2013	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2016	Jun. 28, 2016	Jan. 26, 2016
Class of Stock [Line Items]
Common stock, shares outstanding			89,368,899	86,135,411		86,135,411	89,368,899
Proceeds from issuance of common stock			$ 0	$ 6	$ 1,853,231	$ 2,100,000	$ 2,200,000
Dividends declared per day (in dollars per share)	$ 0.0046448087	$ 0.0046575343
Dividends declared (in usd per share)	$ 1.70	$ 1.70	$ 1.70	$ 1.70	$ 1.70
Short-term trading fee percentage			2.00%
Annual authorized amount as a percentage of weighted average shares outstanding			5.00%				5.00%
Authorized percent of shares outstanding for repurchase for fiscal semester									2.50%
Authorized percent of shares outstanding for repurchase for fiscal year								5.00%	5.00%
Common stock issued through distribution reinvestment plan (in shares)			3,200,000	3,300,000
Common stock issued through distribution reinvestment plan			$ 73,630	$ 78,502	$ 41,580
One Year
Class of Stock [Line Items]
Share repurchase price, percentage of value			92.50%				92.50%
One Year | Maximum
Class of Stock [Line Items]
Share repurchase price, percentage of value (in dollars per share)			$ 23.13				$ 23.13
Share repurchase price, percentage of value			92.50%				92.50%
Two Years
Class of Stock [Line Items]
Share repurchase price, percentage of value			95.00%				95.00%
Two Years | Maximum
Class of Stock [Line Items]
Share repurchase price, percentage of value (in dollars per share)			$ 23.75				$ 23.75
Share repurchase price, percentage of value			95.00%				95.00%
Three Years
Class of Stock [Line Items]
Share repurchase price, percentage of value			97.50%				97.50%
Three Years | Maximum
Class of Stock [Line Items]
Share repurchase price, percentage of value (in dollars per share)			$ 24.38				$ 24.38
Share repurchase price, percentage of value			97.50%				97.50%
Four Years
Class of Stock [Line Items]
Share repurchase price, percentage of value			100.00%				100.00%
Four Years | Maximum
Class of Stock [Line Items]
Share repurchase price, percentage of value (in dollars per share)			$ 25				$ 25
Share repurchase price, percentage of value			100.00%				100.00%

Related Party Transactions an66

Related Party Transactions and Arrangements (Ownership) (Details) - USD ($) $ in Millions	Jan. 14, 2015	Dec. 31, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Common stock held by related party, in shares		89,368,899	86,135,411
Tax Depreciation Deduction | Advisor
Related Party Transaction [Line Items]
Special allocation for tax purposes excess depreciation deductions maximum		$ 10
Acuity Specialty Hospital | Sponsor and Advisor Under Common Control of Purchasing Entity | Affiliated Entity
Related Party Transaction [Line Items]
Contract purchase price	$ 39.4
American Realty Capital Healthcare II Special Limited Partnership, LLC | Special Limited Partner
Related Party Transaction [Line Items]
Common stock held by related party, in shares		8,888	8,888

Common Stock (Stock Redemption)

Common Stock (Stock Redemption) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		12 Months Ended			39 Months Ended	51 Months Ended
	Mar. 31, 2017	Jan. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2016
Class of Stock [Line Items]
Number of Shares Repurchased (in shares)		6,660	6,660			968,370	975,030
Common stock repurchases			$ 170	$ 21,160	$ 1,768
Average Price per Share (in dollars per share)			$ 24.36			$ 23.72	$ 23.73
Remaining number of shares authorized (in shares)			2,288,524	201,367		201,367	2,288,524
Common stock unfulfilled repurchases			$ 48,700	$ 4,640
Unfulfilled Average Price Per Share (in dollars per share)			$ 21.27	$ 23.04
Percentage of weighted average share outstanding eligible for repurchase			1.50%
Subsequent Event [Member]
Class of Stock [Line Items]
Number of Shares Repurchased (in shares)	1,300,000
Common stock repurchases	$ 27,500
Unfulfilled Average Price Per Share (in dollars per share)	$ 21.61

Related Party Transactions an68

Related Party Transactions and Arrangements (Fees Paid in Connection with the IPO) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Asset threshold for assignment of agreement	$ 100,000,000
Expenses incurred	$ 26,136,000	$ 31,419,000	$ 26,917,000
Maximum
Related Party Transaction [Line Items]
Liability for offering and related costs from IPO	2.00%
Aggregate offering costs	12.00%
Realty Capital Securities, LLC | Gross Proceeds, Common Stock | Maximum | Former Dealer Manager
Related Party Transaction [Line Items]
Sales commissions as a percentage of benchmark	7.00%
Option One | Realty Capital Securities, LLC | Gross Proceeds, Common Stock | Maximum | Former Dealer Manager
Related Party Transaction [Line Items]
Dealer manager fee earned by related party	3.00%
Gross Proceeds, Common Stock | Option Two | Gross Proceeds, Common Stock | Maximum | Participating Broker-Dealer
Related Party Transaction [Line Items]
Brokerage fee as a percentage of benchmark	7.50%
Sales Commissions | Selling Commission Fee Paid Upfront | Option Two | Gross Proceeds, Common Stock | Maximum | Participating Broker-Dealer
Related Party Transaction [Line Items]
Brokerage fee as a percentage of benchmark	2.50%
Sales Commissions | Fee Paid at Anniversary of Sale | Option Two | Gross Proceeds, Common Stock | Maximum | Participating Broker-Dealer
Related Party Transaction [Line Items]
Brokerage fee as a percentage of benchmark	1.00%
Dealer Manager Fees | Option Two | Realty Capital Securities, LLC | Gross Proceeds, Common Stock | Former Dealer Manager
Related Party Transaction [Line Items]
Sales commissions as a percentage of benchmark	2.50%
Sales Commissions and Former Dealer Manager Fees | Realty Capital Securities, LLC | Former Dealer Manager
Related Party Transaction [Line Items]
Expenses incurred	$ 0	(2,000)	175,600,000
Compensation and Reimbursement Expenses | Realty Capital Securities, LLC | Advisor
Related Party Transaction [Line Items]
Expenses incurred	0	0	21,767,000
Compensation and Reimbursement Expenses | Realty Capital Securities, LLC | Former Dealer Manager
Related Party Transaction [Line Items]
Expenses incurred	$ 0	$ 0	$ 3,262,000

Related Party Transactions an69

Related Party Transactions and Arrangements (Fees Paid in Connection With the Operations of the Company) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Apr. 01, 2015
Related Party Transaction [Line Items]
Term of agreement	10 years
Renewal term	10 years
Board of directors voting percentage	67.00%
Period of notice	45 days
Share price, net (in dollars per share)		$ 22.50
Expenses forgiven	$ 0	$ 1,220,000	$ 617,000
Advisor
Related Party Transaction [Line Items]
Class B units issued	359,250
American Realty Capital Healthcare Advisors, LLC | Contract Purchase Price | Advisor
Related Party Transaction [Line Items]
Acquisition fees as a percentage of benchmark	1.00%
Financing advance fees as a percentage of benchmark, expected third party costs	0.50%
Total one-time operating fee rate	4.50%
Quarterly asset management fee		0.1875%
American Realty Capital Healthcare Advisors, LLC | Advance on Loan or Other Investment | Advisor
Related Party Transaction [Line Items]
Acquisition fees as a percentage of benchmark	1.00%
Financing advance fees as a percentage of benchmark, expected third party costs	0.50%
Total one-time operating fee rate	4.50%
American Realty Capital Healthcare Advisors, LLC | Contract Purchase Price, All Assets Acquired | Advisor
Related Party Transaction [Line Items]
Fee cap	1.50%
American Realty Capital Healthcare Advisors, LLC | Amount Available or Outstanding Under Financing Arrangement | Advisor
Related Party Transaction [Line Items]
Financing coordination fees	0.75%
American Realty Capital Healthcare Advisors, LLC | Gross Revenue, Stand-alone Single-tenant Net Leased Properties | Advisor
Related Party Transaction [Line Items]
Property management fees	1.50%
American Realty Capital Healthcare Advisors, LLC | Gross Revenue, Excluding Stand-alone Single-tenant Net Leased Properties | Advisor
Related Party Transaction [Line Items]
Property management fees	2.50%
Maximum | American Realty Capital Healthcare Advisors, LLC | Gross Revenue, Managed Properties | Advisor
Related Party Transaction [Line Items]
Oversight fees earned by related party	1.00%
Maximum | American Realty Capital Healthcare Advisors, LLC | Average Invested Assets | Advisor
Related Party Transaction [Line Items]
Operating expenses as a percentage of benchmark	2.00%
Maximum | American Realty Capital Healthcare Advisors, LLC | Net Income, Excluding Additions to Non-cash Reserves and Gains on Sales of Assets | Advisor
Related Party Transaction [Line Items]
Operating expenses as a percentage of benchmark	25.00%
American Realty Capital Healthcare Advisors, LLC
Related Party Transaction [Line Items]
Period of notice	60 days
American Realty Capital Healthcare Advisors, LLC | Cost of Assets | Advisor
Related Party Transaction [Line Items]
Asset management fee benchmark				0.0625%
Monthly Base Management Fee | American Realty Capital Healthcare Advisors, LLC
Related Party Transaction [Line Items]
Transaction amount	$ 1,625,000
Variable Portion of Base Management Fee | American Realty Capital Healthcare Advisors, LLC
Related Party Transaction [Line Items]
Related Party Transaction, Basis of Related Party Transaction	8.33%
Quarterly Variable Management Fee, Benchmark One | American Realty Capital Healthcare Advisors, LLC
Related Party Transaction [Line Items]
Percent of Core Earnings	15.00%
Basis of core earnings (in usd per share)	$ 0.375
Quarterly Variable Management Fee, Benchmark Two | American Realty Capital Healthcare Advisors, LLC
Related Party Transaction [Line Items]
Percent of Core Earnings	10.00%
Basis of core earnings (in usd per share)	$ 0.47
Reimbursements of Administrative Services | American Realty Capital Healthcare Advisors, LLC
Related Party Transaction [Line Items]
Transaction amount	$ 4,000,000	$ 900,000	$ 0

Related Party Transactions an70

Related Party Transactions and Arrangements (Fees Paid in Connection With the Operations of the Company, Incurred, Forgiven and Payable) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Expenses incurred	$ 26,136,000	$ 31,419,000	$ 26,917,000
Expenses forgiven	0	1,220,000	617,000
Payable (Receivable)	862,000	536,000
Acquisition fees | Nonrecurring Fees
Related Party Transaction [Line Items]
Expenses incurred	0	6,878,000	15,936,000
Expenses forgiven	0	0	0
Payable (Receivable)	0	0
Acquisition cost reimbursements | Nonrecurring Fees
Related Party Transaction [Line Items]
Expenses incurred	0	3,439,000	7,968,000
Expenses forgiven	0	0
Payable (Receivable)	0	0
Financing coordination fees | Nonrecurring Fees
Related Party Transaction [Line Items]
Expenses incurred	450,000	3,863,000	1,997,000
Expenses forgiven	0	0	0
Payable (Receivable)	0	0
Asset management fees | Recurring Fees
Related Party Transaction [Line Items]
Expenses incurred	17,566,000	10,889,000	0
Expenses forgiven	0	0	0
Payable (Receivable)	0	(5,000)
Property management fees | Nonrecurring Fees
Related Party Transaction [Line Items]
Expenses forgiven			0
Property management fees | Recurring Fees
Related Party Transaction [Line Items]
Expenses incurred	3,017,000	1,302,000
Expenses forgiven	0	1,220,000	617,000
Payable (Receivable)	(163,000)	(10,000)
Transfer agent and other professional services | Recurring Fees
Related Party Transaction [Line Items]
Expenses incurred	4,492,000	4,558,000	364,000
Expenses forgiven	0	0	0
Payable (Receivable)	1,025,000	499,000
Strategic advisory fees | Recurring Fees
Related Party Transaction [Line Items]
Expenses incurred	0	0	605,000
Expenses forgiven	0	0	0
Payable (Receivable)	0	0
Distributions on Class B Units | Recurring Fees
Related Party Transaction [Line Items]
Expenses incurred	611,000	490,000	47,000
Expenses forgiven	0	0	$ 0
Payable (Receivable)	$ 0	$ 52,000

Related Party Transactions an71

Related Party Transactions and Arrangements (Fees Paid in Connection with the Liquidation or Listing of the Company's Real Estate Assets) (Details)	Mar. 17, 2015USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
American Realty Capital Healthcare Advisors, LLC | Pre-tax Non-compounded Return on Capital Contribution | Advisor
Related Party Transaction [Line Items]
Cumulative capital investment return to investors as a percentage of benchmark		6.00%
Subordinated performance fee as a percentage of benchmark		15.00%
Healthcare Trust Special Limited Partnership, LLC | Net Sale Proceeds, after Return of Capital Contributions and Annual Targeted Investor Return | Special Limited Partner
Related Party Transaction [Line Items]
Subordinated performance fee as a percentage of benchmark		15.00%
Healthcare Trust Special Limited Partnership, LLC | Excess of Adjusted Market Value of Real Estate Assets Plus Distributions Over Aggregate Contributed Investor Capital | Special Limited Partner
Related Party Transaction [Line Items]
Subordinated participation fees as a percentage of benchmark		15.00%
Distribution upon nonrenewal of advisory agreement		15.00%
Maximum | American Realty Capital Healthcare Advisors, LLC | Aggregate Total Return of Year Fee is Incurred | Advisor
Related Party Transaction [Line Items]
Subordinated performance fee earned, fee cap		10.00%
Listing Fee | RCS Capital, Key Banc and Investment Banking and Capital Markets Division of Dealer Manager [Member]
Related Party Transaction [Line Items]
Listing fee earned for listing on securities exchange	$ 1,500,000
Transaction Advisory Fee | RCS Capital, Key Banc and Investment Banking and Capital Markets Division of Dealer Manager [Member]
Related Party Transaction [Line Items]
Transaction fee, percent of sale transaction		0.25%
Brokerage Commission Fees | Advisor
Related Party Transaction [Line Items]
Transaction amount		$ 300,000	$ 0	$ 0
Brokerage Commission Fees | Option One | Maximum | American Realty Capital Healthcare Advisors, LLC | Contract Sales Price | Advisor
Related Party Transaction [Line Items]
Real estate commissions as a percentage of benchmark		2.00%
Brokerage Commission Fees | Option Two | Maximum | American Realty Capital Healthcare Advisors, LLC | Contract Sales Price | Advisor
Related Party Transaction [Line Items]
Real estate commissions as a percentage of benchmark		50.00%
Real Estate Commissions | Maximum | American Realty Capital Healthcare Advisors, LLC | Contract Sales Price | Advisor
Related Party Transaction [Line Items]
Real estate commissions as a percentage of benchmark		6.00%
Annual Targeted Investor Return | Healthcare Trust Special Limited Partnership, LLC | Pre-tax Non-compounded Return on Capital Contribution | Special Limited Partner
Related Party Transaction [Line Items]
Cumulative capital investment return to investors as a percentage of benchmark		6.00%
Change in Control Fee
Related Party Transaction [Line Items]
Fee multiplier		4
Asset management fees
Related Party Transaction [Line Items]
Fee multiplier		4
Variable Management - Incentive Fee
Related Party Transaction [Line Items]
Fee multiplier		4
Transition Fee
Related Party Transaction [Line Items]
Transaction amount		$ 15,000,000
Subject Fees (Transition Fee Not in Excess of the Product)
Related Party Transaction [Line Items]
Fee multiplier		4
Subject Fees
Related Party Transaction [Line Items]
Fee multiplier		4.5

Equity-Based Compensation (Narr

Equity-Based Compensation (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 160	$ 60	$ 73
Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock issued during period, issued for services (in shares)	0	0	2,037
Stock issued during period, issued for services			$ 46
Restricted Share Plan | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted automatically upon election to board of directors, in shares	1,333
Restricted share vesting period	5 years
Periodic vesting percentage	20.00%
Maximum authorized amount as a percentage of shares authorized	5.00%
Number of shares authorized, in shares	3,400,000
Nonvested awards, compensation cost not yet recognized	$ 200
Nonvested awards, compensation cost not yet recognized, period for recognition	4 years
Equity-based compensation expense	$ 200	$ 100		$ 27

Equity-Based Compensation (Summ

Equity-Based Compensation (Summary of Share-based Compensation Awards) (Details) - Restricted Share Plan - Restricted Stock - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Number of Common Shares
Beginning Balance (in shares)	11,731	7,198	3,999
Granted (in shares)	6,735	7,998	3,999
Vested (in shares)	(7,212)	(1,066)	(800)
Forfeitures (in shares)	(1,333)	(2,399)	0
Ending Balance (in shares)	9,921	11,731	7,198
Weighted-Average Issue Price
Beginning Balance, Weighted-Average Issue Price (usd per share)	$ 22.50	$ 22.50	$ 22.50
Granted, Weighted-Average Issue Price (usd per share)	22.27	22.50	22.50
Vested, Weighted-Average Issue Price (usd per share)	22.50	22.50	22.50
Forfeitures, Weighted-Average Issue Price (usd per share)	22.50	22.50	0
Ending Balance, Weighted-Average Issue Price (usd per share)	$ 22.42	$ 22.50	$ 22.50

Accumulated Other Comprehensi74

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	$ 1,601,817	$ 1,732,177	$ 158,149
Ending Balance	1,504,326	1,601,817	1,732,177
Gain on sale of investment securities	56	446	8
Preferred stock
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Gain on sale of investment securities	100		8
Unrealized Gains (Losses) on Available-for-Sale Securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(6)	463	0
Other comprehensive income, before reclassifications	62	(23)	471
Amounts reclassified from accumulated other comprehensive income	(56)	(446)	(8)
Ending Balance	$ 0	$ (6)	$ 463

Non-Controlling Interests (Narr

Non-Controlling Interests (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Nov. 30, 2014
Noncontrolling Interest [Line Items]
Limited partner units (in units)	90	90
Distributions to non-controlling interest holders	$ 731	$ 698	$ 0
Distributions	731	698
Non-controlling Interests
Noncontrolling Interest [Line Items]
Limited partner units (in units)				405,908
Units issued to purchase building				$ 10,100
Units issued to fund purchase of A Building (in dollars per share)				$ 25
Distributions	731	$ 698
Plaza Del Rio Medical Office Campus Portfolio AZ
Noncontrolling Interest [Line Items]
Distributions	$ 40

Non-Controlling Interests (Summ

Non-Controlling Interests (Summary of Non-Controlling Interests) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Noncontrolling Interest [Line Items]
Third party net investment amount	$ 8,870	$ 9,697
Net Real Estate Assets Subject to Investment Arrangement	2,114,235	2,194,602
Mortgage Notes Payable Subject to Investment Arrangement	142,288	157,305
Distributions	731	698
Non-controlling Interests
Noncontrolling Interest [Line Items]
Distributions	731	698
Plaza Del Rio Medical Office Campus Portfolio AZ
Noncontrolling Interest [Line Items]
Distributions	40
Plaza Del Rio Medical Office Campus Portfolio AZ | Non-controlling Interests
Noncontrolling Interest [Line Items]
Third party net investment amount	$ 439
Non-controlling ownership percentage	4.10%
Net Real Estate Assets Subject to Investment Arrangement	$ 10,429	10,561
Mortgage Notes Payable Subject to Investment Arrangement	$ 0	$ 0

Net Loss Per Share (Details)

Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]
Net loss attributable to stockholders	$ (7,655)	$ (8,664)	$ (3,000)	$ (1,555)	$ (6,992)	$ (16,108)	$ (13,421)	$ (5,220)	$ (12,926)	$ (20,023)	$ (4,147)	$ (582)	$ (20,874)	$ (41,741)	$ (37,678)
Basic and diluted weighted average shares outstanding (in shares)	89,088,233	88,285,390	87,465,569	86,658,678	86,351,934	85,705,595	84,992,633	84,250,503	83,381,570	71,813,126	35,127,969	13,623,545	87,878,907	85,331,966	51,234,729
Basic and diluted net loss per share (in usd per share)	$ (0.09)	$ (0.10)	$ (0.03)	$ (0.02)	$ (0.08)	$ (0.19)	$ (0.16)	$ (0.06)	$ (0.16)	$ (0.28)	$ (0.12)	$ (0.04)	$ (0.24)	$ (0.49)	$ (0.74)
Antidilutive securities excluded from computation of earnings per share (in shares)													775,169	776,979	521,081
Restricted Stock
Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)													9,921	11,731	7,198
OP Units
Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)													405,998	405,998	405,998
Class B units
Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)													359,250	359,250	107,885

Segment Reporting (Reconciliati

Segment Reporting (Reconciliation of Segment Activity) (Details) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2016USD ($)segment	Dec. 31, 2015USD ($)segment	Dec. 31, 2014USD ($)segment
Segment Reporting Information [Line Items]
Number of reportable segments | segment													3	3	3
Rental income													$ 103,375	$ 93,218	$ 23,005
Operating expense reimbursements													15,876	12,759	3,585
Resident services and fee income													183,177	140,901	31,849
Total revenues													302,428	246,878	58,439
Contingent purchase price consideration													138	612	0
Impairment on sale of real estate investments													(389)	0	0
Property operating and maintenance													172,077	125,573	26,717
Net operating income													130,351	121,305	31,722
Operating fees to related parties													(20,583)	(12,191)	0
Acquisition and transaction related													(3,163)	(14,679)	(33,623)
General and administrative													(12,105)	(9,733)	(3,541)
Depreciation and amortization													(98,886)	(120,924)	(28,889)
Interest expense													(19,881)	(10,356)	(3,559)
Interest and other income													47
Gain on non-designated derivative instruments													31	0	0
Gain on sale of real estate investment													1,330	0	0
Interest and other income														582	735
Gain on sale of investment securities													56	446	8
Income tax benefit (expense)													2,084	2,978	(565)
Net loss attributable to non-controlling interests													96	219	34
Net loss attributable to stockholders	$ (7,655)	$ (8,664)	$ (3,000)	$ (1,555)	$ (6,992)	$ (16,108)	$ (13,421)	$ (5,220)	$ (12,926)	$ (20,023)	$ (4,147)	$ (582)	(20,874)	(41,741)	(37,678)
Medical Office Buildings
Segment Reporting Information [Line Items]
Rental income													65,994	56,165	13,955
Operating expense reimbursements													14,927	12,611	3,532
Resident services and fee income													0	0	0
Total revenues													80,921	68,776	17,487
Property operating and maintenance													23,814	20,334	4,765
Net operating income													57,107	48,442	12,722
Triple-Net Leased Healthcare Facilities
Segment Reporting Information [Line Items]
Rental income													37,374	37,053	9,050
Operating expense reimbursements													949	148	53
Resident services and fee income													0	0	0
Total revenues													38,323	37,201	9,103
Property operating and maintenance													18,812	6,706	79
Net operating income													19,511	30,495	9,024
Seniors Housing Communities
Segment Reporting Information [Line Items]
Rental income													7	0	0
Operating expense reimbursements													0	0	0
Resident services and fee income													183,177	140,901	31,849
Total revenues													183,184	140,901	31,849
Property operating and maintenance													129,451	98,533	21,873
Net operating income													$ 53,733	$ 42,368	$ 9,976

Segment Reporting (Reconcilia79

Segment Reporting (Reconciliation of Segment Activity to Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Net Real Estate Assets Subject to Investment Arrangement	$ 2,114,235	$ 2,194,602
Construction in progress	60,055	21,309
Cash and cash equivalents	29,225	24,474	$ 182,617	$ 111,833
Restricted cash	3,962	4,647
Investment securities, at fair value	0	1,078
Non-designated derivative assets, at fair value	61	0
Straight-line rent receivable, net	12,026	11,470
Prepaid expenses and other assets	22,073	21,707
Deferred costs, net	12,123	11,864
Total assets	2,193,705	2,269,842
Operating Segments
Segment Reporting Information [Line Items]
Construction in progress	70,055	31,309
Operating Segments | Medical Office Buildings
Segment Reporting Information [Line Items]
Net Real Estate Assets Subject to Investment Arrangement	788,023	839,041
Operating Segments | Triple-Net Leased Healthcare Facilities
Segment Reporting Information [Line Items]
Net Real Estate Assets Subject to Investment Arrangement	418,819	447,893
Operating Segments | Seniors Housing Communities
Segment Reporting Information [Line Items]
Net Real Estate Assets Subject to Investment Arrangement	$ 837,338	$ 876,359

Segment Reporting (Reconcilia80

Segment Reporting (Reconciliation of Capital Expenditures by Segment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Capital expenditures	$ 7,476	$ 6,885	$ 807
Operating Segments
Segment Reporting Information [Line Items]
Capital expenditures	7,475	5,370	743
Operating Segments | Medical Office Buildings
Segment Reporting Information [Line Items]
Capital expenditures	3,198	2,129	609
Operating Segments | Triple-Net Leased Healthcare Facilities
Segment Reporting Information [Line Items]
Capital expenditures	112	540	0
Operating Segments | Seniors Housing Communities
Segment Reporting Information [Line Items]
Capital expenditures	$ 4,165	$ 2,701	$ 134

Commitments and Contingencies81

Commitments and Contingencies (Schedule of Future Minimum Rental Payments) (Details) $ in Thousands	Dec. 31, 2016USD ($)
Operating Leases
2017, Operating Leases	$ 664
2018, Operating Leases	668
2019, Operating Leases	673
2020, Operating Leases	671
2021, Operating Leases	658
Thereafter, Operating Leases	32,571
Total, Operating Leases	35,905
Capital Leases
2017, Capital Leases	76
2018, Capital Leases	78
2019, Capital Leases	80
2020, Capital Leases	82
2021, Capital Leases	84
Thereafter, Capital Leases	7,764
Total, Capital Leases	8,164
Interest, Capital Leases	(3,351)
Total present value of minimum lease payments	$ 4,813

Commitments and Contingencies82

Commitments and Contingencies (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Aug. 31, 2015
Loss Contingencies [Line Items]
Rent expense	$ 800,000	$ 400,000	$ 100,000
Interest expense	100,000	100,000	$ 200,000
Purchase obligation				$ 82,000,000
Construction in progress	60,055,000	$ 21,309,000
Line of Credit
Loss Contingencies [Line Items]
Maximum borrowing capacity				$ 2,700,000
Stated interest rate				7.00%
Land
Loss Contingencies [Line Items]
Construction in progress	10,000,000
Construction in Progress
Loss Contingencies [Line Items]
Construction in progress	$ 60,100,000

Quarterly Results (Unaudited)83

Quarterly Results (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Total revenues	$ 75,679	$ 75,521	$ 75,857	$ 75,509	$ 66,373	$ 64,030	$ 59,516	$ 57,121	$ 42,365	$ 11,818	$ 2,869	$ 1,387	$ 302,566	$ 247,490	$ 58,439
Net loss attributable to stockholders	$ (7,655)	$ (8,664)	$ (3,000)	$ (1,555)	$ (6,992)	$ (16,108)	$ (13,421)	$ (5,220)	$ (12,926)	$ (20,023)	$ (4,147)	$ (582)	$ (20,874)	$ (41,741)	$ (37,678)
Basic and diluted weighted average shares outstanding (in shares)	89,088,233	88,285,390	87,465,569	86,658,678	86,351,934	85,705,595	84,992,633	84,250,503	83,381,570	71,813,126	35,127,969	13,623,545	87,878,907	85,331,966	51,234,729
Basic and diluted net loss per share (in usd per share)	$ (0.09)	$ (0.10)	$ (0.03)	$ (0.02)	$ (0.08)	$ (0.19)	$ (0.16)	$ (0.06)	$ (0.16)	$ (0.28)	$ (0.12)	$ (0.04)	$ (0.24)	$ (0.49)	$ (0.74)

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 03, 2017	Mar. 31, 2017	Mar. 31, 2016	Jan. 31, 2016	Apr. 30, 2013	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2016	Feb. 28, 2013
Subsequent Event [Line Items]
Percentage of weighted average share outstanding eligible for repurchase						1.50%
Number of Shares Repurchased (in shares)				6,660		6,660			968,370	975,030
Common stock repurchases						$ 170	$ 21,160	$ 1,768
Unfulfilled Average Price Per Share (in dollars per share)						$ 21.27	$ 23.04
Dividends declared per day (in dollars per share)			$ 0.0046448087		$ 0.0046575343
Dividends declared (in usd per share)			$ 1.70		$ 1.70	$ 1.70	$ 1.70	$ 1.70
Dividends, percent					6.80%
Subsequent Event [Member]
Subsequent Event [Line Items]
Number of Shares Repurchased (in shares)		1,300,000
Common stock repurchases		$ 27,500
Unfulfilled Average Price Per Share (in dollars per share)		$ 21.61
Dividends declared per day (in dollars per share)	$ 0.0039726027
Dividends declared (in usd per share)	$ 1.45
Dividends, percent	5.80%
Common Stock [Member]
Subsequent Event [Line Items]
Share Price (in dollars per share)											$ 25

Real Estate and Accumulated D85

Real Estate and Accumulated Depreciation - Schedule III (Summary of Real Estate Properties) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Jul. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 143,804
Land	187,868
Building and Improvements	1,861,320
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	11,270
Gross Amount	2,060,458	$ 2,078,503		$ 1,475,848	$ 39,778
Accumulated Depreciation	119,014	60,575		$ 11,791	$ 814
Acquired intangibles	234,700
Federal income taxes	2,100,000
Accumulated Amortization	122,000
Credit facilities	481,500	430,000
Secured Debt	142,288	$ 157,305
Unencumbered Properties [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Maximum borrowing capacity			$ 565,000
Credit facilities	$ 421,500
Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Useful life	40 years
Land Improvements
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Useful life	15 years
Fixtures and improvements
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Useful life	5 years
Fresenius Medical Care - Winfield
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	151
Building and Improvements	1,568
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	1,719
Accumulated Depreciation	169
Adena Health Center - Jackson
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	242
Building and Improvements	4,494
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	4,736
Accumulated Depreciation	408
Ouachita Community Hospital - West Monroe
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	633
Building and Improvements	5,304
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	5,937
Accumulated Depreciation	490
CareMeridian - Littleton
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	976
Building and Improvements	8,900
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	103
Gross Amount	9,979
Accumulated Depreciation	1,348
Oak Lawn Medical Center - Oak Lawn
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	835
Building and Improvements	7,477
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	8,312
Accumulated Depreciation	808
Surgery Center of Temple - Temple
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	225
Building and Improvements	5,208
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	5,433
Accumulated Depreciation	450
Greenville Health System - Greenville
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	720
Building and Improvements	3,045
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	3,765
Accumulated Depreciation	255
Arrowhead Medical Plaza II - Glendale
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	0
Building and Improvements	9,707
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	307
Gross Amount	10,014
Accumulated Depreciation	904
Village Center Parkway - Stockbridge
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,135
Building and Improvements	2,299
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	131
Gross Amount	3,565
Accumulated Depreciation	251
Stockbridge Family Medical - Stockbridge
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	823
Building and Improvements	1,799
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	11
Gross Amount	2,633
Accumulated Depreciation	153
Creekside MOB - Douglasville
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	2,709
Building and Improvements	5,320
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	603
Gross Amount	8,632
Accumulated Depreciation	546
Bowie Gateway Medical Center - Bowie
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	983
Building and Improvements	10,321
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	11,304
Accumulated Depreciation	748
Campus at Crooks & Auburn Building D - Rochester Hills
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	640
Building and Improvements	4,107
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	4,747
Accumulated Depreciation	302
Medical Center of New Windsor - New Windsor
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	8,602
Land	0
Building and Improvements	10,566
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	338
Gross Amount	10,904
Accumulated Depreciation	806
Plank Medical Center - Clifton Park
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,414
Land	749
Building and Improvements	3,559
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	25
Gross Amount	4,333
Accumulated Depreciation	280
Cushing Center - Schenectady
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	0
Building and Improvements	12,489
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	45
Gross Amount	12,534
Accumulated Depreciation	913
Berwyn Medical Center - Berwyn
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,305
Building and Improvements	7,559
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	8,864
Accumulated Depreciation	509
Countryside Medical Arts - Safety Harbor
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	5,904
Land	915
Building and Improvements	7,663
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	60
Gross Amount	8,638
Accumulated Depreciation	560
St. Andrews Medical Park - Venice
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	6,526
Land	1,666
Building and Improvements	9,944
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	142
Gross Amount	11,752
Accumulated Depreciation	757
Campus at Crooks & Auburn Building C - Rochester Hills, MI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	609
Building and Improvements	3,842
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	130
Gross Amount	4,581
Accumulated Depreciation	301
Slingerlands Crossing Phase I - Bethlehem
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	6,589
Land	3,865
Building and Improvements	5,919
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	28
Gross Amount	9,812
Accumulated Depreciation	445
Slingerlands Crossing Phase II - Bethlehem
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	7,671
Land	1,707
Building and Improvements	9,715
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	193
Gross Amount	11,615
Accumulated Depreciation	715
UC Davis MOB - Elk Grove
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,138
Building and Improvements	7,242
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	26
Gross Amount	8,406
Accumulated Depreciation	510
Laguna Professional Center - Elk Grove
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,811
Building and Improvements	14,598
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	16,409
Accumulated Depreciation	1,014
Big Spring Care Center - Humansville
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	230
Building and Improvements	6,514
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	6,744
Accumulated Depreciation	591
Buffalo Prairie Care Center - Buffalo
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	230
Building and Improvements	4,098
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	4,328
Accumulated Depreciation	412
Cassville Health Care & Rehab - Cassville
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	250
Building and Improvements	3,774
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	4,024
Accumulated Depreciation	324
Country Aire Retirement Estates - Lewistown
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	400
Building and Improvements	4,546
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	4,946
Accumulated Depreciation	483
Edgewood Manor Nursing Home - Raytown
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	591
Building and Improvements	851
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	1,442
Accumulated Depreciation	82
Georgian Gardens - Potosi
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	500
Building and Improvements	6,359
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	6,859
Accumulated Depreciation	660
Marshfield Care Center - Marshfield
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	310
Building and Improvements	4,052
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	4,362
Accumulated Depreciation	428
Estate at Hyde Park - Tampa
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,777
Building and Improvements	20,153
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	12
Gross Amount	21,942
Accumulated Depreciation	1,539
Autumn Ridge of Clarkston - Clarkston
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	655
Building and Improvements	19,834
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	106
Gross Amount	20,595
Accumulated Depreciation	1,548
Sunnybrook of Burlington - Burlington
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	518
Building and Improvements	16,651
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	74
Gross Amount	17,243
Accumulated Depreciation	1,274
Sunnybrook of Carroll - Carroll
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	473
Building and Improvements	11,150
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	10
Gross Amount	11,633
Accumulated Depreciation	779
Sunnybrook of Fairfield - Fairfield
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	340
Building and Improvements	14,028
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	102
Gross Amount	14,470
Accumulated Depreciation	1,098
Sunnybrook of Ft. Madison - Ft. Madison
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	550
Building and Improvements	9,024
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	57
Gross Amount	9,631
Accumulated Depreciation	703
Sunnybrook of Mt. Pleasant - Mt. Pleasant
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	205
Building and Improvements	10,811
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	156
Gross Amount	11,172
Accumulated Depreciation	705
Sunnybrook of Muscatine - Muscatine
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	302
Building and Improvements	13,752
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	73
Gross Amount	14,127
Accumulated Depreciation	977
Prairie Hills at Cedar Rapids -Cedar Rapids
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	195
Building and Improvements	8,544
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	57
Gross Amount	8,796
Accumulated Depreciation	609
Prairie Hills at Clinton - Clinton
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	890
Building and Improvements	18,801
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	61
Gross Amount	19,752
Accumulated Depreciation	1,355
Prairie Hills at Des Moines - Des Moines
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	647
Building and Improvements	13,645
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	48
Gross Amount	14,340
Accumulated Depreciation	1,072
Prairie Hills at Tipton - Tipton
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	306
Building and Improvements	10,370
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	8
Gross Amount	10,684
Accumulated Depreciation	669
Prairie Hills at Independence - Independence
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	473
Building and Improvements	10,534
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	42
Gross Amount	11,049
Accumulated Depreciation	726
Prairie Hills at Ottumwa - Ottumwa
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	538
Building and Improvements	9,100
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	80
Gross Amount	9,718
Accumulated Depreciation	688
Sunnybrook of Burlington - Land - Burlington
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	620
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	620
Accumulated Depreciation	0
Benedictine Cancer Center - Kingston, NY
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	6,719
Land	0
Building and Improvements	13,274
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	13,274
Accumulated Depreciation	809
Buchanan Meadows - Buchanan
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	288
Building and Improvements	6,988
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	7,276
Accumulated Depreciation	532
Crystal Springs - Kentwood
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	661
Building and Improvements	14,507
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	15,168
Accumulated Depreciation	1,218
Golden Orchards - Fennville
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	418
Building and Improvements	5,318
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	5,736
Accumulated Depreciation	376
Lakeside Vista - Holland
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	378
Building and Improvements	12,196
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	12,574
Accumulated Depreciation	906
Liberty Court - Dixon
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	119
Building and Improvements	1,957
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	2,076
Accumulated Depreciation	162
Prestige Centre - Buchanan
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	297
Building and Improvements	2,207
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	2,504
Accumulated Depreciation	197
Prestige Commons - Chesterfield Two
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	318
Building and Improvements	5,346
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	5,664
Accumulated Depreciation	377
Prestige Pines - Dewitt
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	476
Building and Improvements	3,065
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	3,541
Accumulated Depreciation	308
Prestige Place - Clare
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	59
Building and Improvements	1,169
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	1,228
Accumulated Depreciation	172
Prestige Point - Grand Blanc
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	268
Building and Improvements	3,037
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	3,305
Accumulated Depreciation	274
Prestige Way - Holt
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	527
Building and Improvements	5,269
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	5,796
Accumulated Depreciation	463
The Atrium - Rockford
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	367
Building and Improvements	4,385
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	4,752
Accumulated Depreciation	354
Waldon Woods - Wyoming
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	527
Building and Improvements	5,696
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	6,223
Accumulated Depreciation	581
Whispering Woods - Grand Rapids
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	806
Building and Improvements	12,204
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	13,010
Accumulated Depreciation	1,043
Arrowhead Medical Plaza I - Glendale
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	0
Building and Improvements	6,377
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	446
Gross Amount	6,823
Accumulated Depreciation	402
Golden Years - Harrisonville
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	620
Building and Improvements	8,401
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	9,021
Accumulated Depreciation	761
Cardiovascular Consultants of Cape Girardeau Medical Office Building- Cape Girardeau
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,624
Building and Improvements	5,303
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	6,927
Accumulated Depreciation	444
FOC Clinical - Mechanicsburg
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	0
Building and Improvements	19,634
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	19,634
Accumulated Depreciation	1,259
Brady MOB - Harrisburg
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	0
Building and Improvements	22,485
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	22,485
Accumulated Depreciation	1,276
Community Health MOB - Harrisburg
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	0
Building and Improvements	6,170
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	6,170
Accumulated Depreciation	359
FOC I - Mechanicsburg
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	0
Building and Improvements	8,923
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	23
Gross Amount	8,946
Accumulated Depreciation	588
FOC II - Mechanicsburg
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	0
Building and Improvements	16,473
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	16,473
Accumulated Depreciation	1,064
Harrisburg Pennsylvania Hospital
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	0
Building and Improvements	32,484
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	32,484
Accumulated Depreciation	1,850
Diamond View Assisted Living Community - Meridian
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	498
Building and Improvements	7,053
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	72
Gross Amount	7,623
Accumulated Depreciation	684
Benton House - Brunswick - Brunswick
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,509
Building and Improvements	14,385
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	19
Gross Amount	15,913
Accumulated Depreciation	1,097
Benton House - Dublin - Dublin
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	403
Building and Improvements	9,254
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	34
Gross Amount	9,691
Accumulated Depreciation	771
Benton House - Johns Creek - Johns Creek
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	997
Building and Improvements	11,849
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	75
Gross Amount	12,921
Accumulated Depreciation	931
Benton House - Lee's Summit - Lee's Summit
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	2,734
Building and Improvements	24,970
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	36
Gross Amount	27,740
Accumulated Depreciation	1,764
Benton House - Roswell - Roswell
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,000
Building and Improvements	8,509
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	111
Gross Amount	9,620
Accumulated Depreciation	762
Benton House - Titusville - Titusville
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,379
Building and Improvements	13,827
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	101
Gross Amount	15,307
Accumulated Depreciation	1,148
Allegro at Elizabethtown - Elizabethtown
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	317
Building and Improvements	7,261
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	128
Gross Amount	7,706
Accumulated Depreciation	645
Allegro at Jupiter - Jupiter
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	3,741
Building and Improvements	49,413
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	115
Gross Amount	53,269
Accumulated Depreciation	3,506
Allegro at St Petersburg - St Petersburg
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	3,791
Building and Improvements	7,950
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	545
Gross Amount	12,286
Accumulated Depreciation	909
Allegro at Stuart - Stuart
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	5,018
Building and Improvements	60,505
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	151
Gross Amount	65,674
Accumulated Depreciation	4,396
Allegro at Tarpon - Tarpon Springs
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	2,360
Building and Improvements	13,412
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	81
Gross Amount	15,853
Accumulated Depreciation	1,235
Allegro at St Petersburg - Land - St Petersburg
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	3,045
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	3,045
Accumulated Depreciation	0
Gateway Medical Office Building - Clarksville
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	0
Building and Improvements	16,367
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	501
Gross Amount	16,868
Accumulated Depreciation	985
757 Building - Munster
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	645
Building and Improvements	7,885
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	8,530
Accumulated Depreciation	447
Dyer Building - Dyer
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	601
Building and Improvements	8,867
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	124
Gross Amount	9,592
Accumulated Depreciation	505
759 Building - Munster
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,101
Building and Improvements	8,899
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	10,000
Accumulated Depreciation	519
761 Building - Munster
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,436
Building and Improvements	8,580
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	10
Gross Amount	10,026
Accumulated Depreciation	519
Schererville Building - Schererville
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,260
Building and Improvements	750
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	201
Gross Amount	2,211
Accumulated Depreciation	85
Nuvista at Hillsborough - Lutz
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	913
Building and Improvements	17,176
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	18,089
Accumulated Depreciation	1,665
Nuvista at Wellington Green - Wellington
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	4,273
Building and Improvements	42,098
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	46,371
Accumulated Depreciation	3,414
Mount Vernon Medical Office Building - Mount Vernon
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	0
Building and Improvements	18,519
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	18,519
Accumulated Depreciation	1,046
Meadowbrook Senior Living - Agoura Hills
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	8,821
Building and Improvements	48,454
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	194
Gross Amount	57,469
Accumulated Depreciation	2,946
Hampton River Medical Arts Building - Hampton
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	0
Building and Improvements	17,706
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	18
Gross Amount	17,724
Accumulated Depreciation	1,044
Careplex West Medical Office Building- Hampton
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	2,628
Building and Improvements	16,098
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	18,726
Accumulated Depreciation	894
Wellington at Hershey's Mill - West Chester
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	8,531
Building and Improvements	78,409
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	1,012
Gross Amount	87,952
Accumulated Depreciation	4,739
Eye Specialty Group Medical Building - Memphis
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	775
Building and Improvements	7,223
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	7,998
Accumulated Depreciation	395
Benton House - Prairie Village - Prairie Village
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,782
Building and Improvements	21,831
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	19
Gross Amount	23,632
Accumulated Depreciation	1,478
Benton House - Alpharetta
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,604
Building and Improvements	26,055
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	19
Gross Amount	27,678
Accumulated Depreciation	1,713
Medical Sciences Pavilion - Harrisburg
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	0
Building and Improvements	22,309
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	22,309
Accumulated Depreciation	1,178
Bloom MOB - Harrisburg
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	0
Building and Improvements	15,928
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	25
Gross Amount	15,953
Accumulated Depreciation	866
Pinnacle Center - Southaven
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,378
Building and Improvements	6,418
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	239
Gross Amount	8,035
Accumulated Depreciation	414
Wood Glen Nursing and Rehab Center - West Chicago
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,896
Building and Improvements	16,107
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	18,003
Accumulated Depreciation	1,308
Paradise Valley Medical Plaza - Phoenix
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	0
Building and Improvements	25,187
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	358
Gross Amount	25,545
Accumulated Depreciation	1,372
Victory Medical Center at Craig Ranch - McKinney
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,596
Building and Improvements	40,389
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	54
Gross Amount	42,039
Accumulated Depreciation	2,063
Capitol Healthcare & Rehab Centre - Springfield
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	603
Building and Improvements	21,690
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	22,293
Accumulated Depreciation	1,707
Colonial Healthcare & Rehab Centre- Princeton
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	173
Building and Improvements	5,872
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	6,045
Accumulated Depreciation	602
Morton Terrace Healthcare & Rehab Centre - Morton
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	709
Building and Improvements	5,650
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	6,359
Accumulated Depreciation	593
Morton Villa Healthcare & Rehab Centre - Morton
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	645
Building and Improvements	3,665
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	4,310
Accumulated Depreciation	357
Rivershores Healthcare & Rehab Centre - Marseilles
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,276
Building and Improvements	6,869
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	8,145
Accumulated Depreciation	592
The Heights Healthcare & Rehab Centre - Peoria Heights
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	213
Building and Improvements	7,952
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	8,165
Accumulated Depreciation	719
Acuity Specialty Hospital - Mesa
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,977
Building and Improvements	16,146
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	275
Gross Amount	18,398
Accumulated Depreciation	862
Acuity Specialty Hospital - Sun City
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	2,329
Building and Improvements	15,795
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	274
Gross Amount	18,398
Accumulated Depreciation	849
Benton House - Shoal Creek - Kansas City
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	3,723
Building and Improvements	22,206
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	32
Gross Amount	25,961
Accumulated Depreciation	1,366
Aurora Health Center - Green Bay
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,130
Building and Improvements	1,678
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	2,808
Accumulated Depreciation	95
Aurora Healthcare Center, Greenville,WI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	259
Building and Improvements	958
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	1,217
Accumulated Depreciation	57
Aurora Healthcare Center Plymouth, WI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	2,891
Building and Improvements	24,224
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	27,115
Accumulated Depreciation	1,226
Aurora Healthcare Center, Waterford, WI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	590
Building and Improvements	6,452
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	7,042
Accumulated Depreciation	315
Aurora Healthcare Center, Wautoma, WI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,955
Building and Improvements	4,361
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	6,316
Accumulated Depreciation	222
Aurora Sheboyan Clinic, Kiel, WI
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	676
Building and Improvements	2,214
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	2,890
Accumulated Depreciation	112
Arbor View Assisted Living and Memory Care - Burlington
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	367
Building and Improvements	7,815
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	8,182
Accumulated Depreciation	528
Advanced Orthopedic Medical Center - Richmond
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,523
Building and Improvements	19,229
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	20,752
Accumulated Depreciation	893
Palm Valley Medical Plaza AZ
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,428
Land	1,890
Building and Improvements	4,876
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	42
Gross Amount	6,808
Accumulated Depreciation	259
Physicians Plaza of Roane County - Harriman
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,746
Building and Improvements	7,813
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	38
Gross Amount	9,597
Accumulated Depreciation	371
Adventist Health Lacey Medical Plaza - Hanford
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	328
Building and Improvements	13,267
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	9
Gross Amount	13,604
Accumulated Depreciation	563
Commerical Center - Peoria
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	959
Building and Improvements	1,076
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	193
Gross Amount	2,228
Accumulated Depreciation	63
Medical Center I - Peoria
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	807
Building and Improvements	1,077
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	500
Gross Amount	2,384
Accumulated Depreciation	112
Medical Center II - Peoria
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	945
Building and Improvements	1,304
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	413
Gross Amount	2,662
Accumulated Depreciation	94
Medical Center III - Peoria
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	673
Building and Improvements	1,597
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	78
Gross Amount	2,348
Accumulated Depreciation	80
Dental Arts Building - Peoria
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	156
Building and Improvements	152
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	12
Gross Amount	320
Accumulated Depreciation	8
Morrow Medical Center - Morrow
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,155
Building and Improvements	5,618
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	62
Gross Amount	6,835
Accumulated Depreciation	232
Belmar Medical Building - Lakewood
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	819
Building and Improvements	4,273
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	37
Gross Amount	5,129
Accumulated Depreciation	190
Addington Place of Northville - Northville
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	440
Building and Improvements	14,975
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	12
Gross Amount	15,427
Accumulated Depreciation	723
Medical Center V - Peoria, AZ
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	3,151
Land	1,089
Building and Improvements	3,145
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	67
Gross Amount	4,301
Accumulated Depreciation	133
Legacy Medical Village - Plano
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	3,755
Building and Improvements	31,021
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	48
Gross Amount	34,824
Accumulated Depreciation	1,254
Conroe Medical Arts and Surgery Center - Conroe
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,965
Building and Improvements	12,032
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	56
Gross Amount	14,053
Accumulated Depreciation	526
Scripps Cedar Medical Center - Vista
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,213
Building and Improvements	14,531
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	15,744
Accumulated Depreciation	533
NuVista Institute for Healthy Living - Jupiter
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	10,000
Building and Improvements	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	10,000
Accumulated Depreciation	0
Ocean Park of Brookings - Brookings
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	861
Building and Improvements	8,367
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	108
Gross Amount	9,336
Accumulated Depreciation	378
Ramsey Woods - Cudahy
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	930
Building and Improvements	4,990
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	5,920
Accumulated Depreciation	218
East Coast Square North - Morehead City
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	899
Building and Improvements	4,761
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	5,660
Accumulated Depreciation	160
East Coast Square West - Cedar Point
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,535
Building and Improvements	4,803
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	6
Gross Amount	6,344
Accumulated Depreciation	166
Eastside Cancer Institute - Greenville
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,498
Building and Improvements	6,637
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	8,135
Accumulated Depreciation	213
Sassafras Medical Building - Erie
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	928
Building and Improvements	4,538
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	5,466
Accumulated Depreciation	137
Sky Lakes Klamath Medical Clinic - Klamath Falls
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	433
Building and Improvements	2,604
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	8
Gross Amount	3,045
Accumulated Depreciation	82
Courtyard Fountains - Gresham, OR
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	24,820
Land	2,476
Building and Improvements	50,534
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	509
Gross Amount	53,519
Accumulated Depreciation	1,691
Presence Healing Arts Pavilion - New Lenox
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	0
Building and Improvements	6,761
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	64
Gross Amount	6,825
Accumulated Depreciation	209
Mainland Medical Arts Pavilion - Texas City
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	320
Building and Improvements	7,823
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	247
Gross Amount	8,390
Accumulated Depreciation	252
Renaissance on Peachtree - Atlanta
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	4,535
Building and Improvements	68,605
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	300
Gross Amount	73,440
Accumulated Depreciation	2,242
Fox Ridge Senior Living at Bryant - Bryant
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	7,698
Land	1,687
Building and Improvements	12,862
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	75
Gross Amount	14,624
Accumulated Depreciation	532
Fox Ridge Senior Living at Chenal - Little Rock
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	17,540
Land	6,896
Building and Improvements	20,484
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	19
Gross Amount	27,399
Accumulated Depreciation	735
Fox Ridge Senior Living at Parkstone - North Little Rock
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	10,884
Land	0
Building and Improvements	19,190
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	47
Gross Amount	19,237
Accumulated Depreciation	624
Autumn Leaves of Clear Lake - Houston
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,599
Building and Improvements	13,194
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	14,793
Accumulated Depreciation	435
Autumn Leaves of Cy-Fair - Houston
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	1,225
Building and Improvements	11,335
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	12,560
Accumulated Depreciation	375
Autumn Leaves of Meyerland- Houston
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	2,033
Building and Improvements	13,411
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	15,444
Accumulated Depreciation	423
Autumn Leaves of the Woodlands - The Woodlands
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	2,412
Building and Improvements	9,141
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	0
Gross Amount	11,553
Accumulated Depreciation	324
Encumbrances allocated based on notes below
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	30,858
Land
Building and Improvements
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements
Gross Amount
Accumulated Depreciation
Capital One Facility
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Secured Debt	30,000
KeyBank Facility
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Secured Debt	30,000
Cross Collateralized Mortgage Note Payable
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Secured Debt	$ 30,900

Real Estate and Accumulated D86

Real Estate and Accumulated Depreciation - Schedule III (Changes in Accumulated Depreciation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Real estate investments, at cost:
Balance at beginning of year	$ 2,078,503	$ 1,475,848	$ 39,778
Additions-Acquisitions	6,478	602,655	1,436,070
Disposals	(24,523)	0	0
Balance at end of the year	2,060,458	2,078,503	1,475,848
Accumulated depreciation and amortization:
Balance at beginning of year	60,575	11,791	814
Depreciation Expense	59,478	48,784	10,977
Disposals	(1,039)	0	0
Balance at end of the year	$ 119,014	$ 60,575	$ 11,791