American Realty Capital Healthcare Trust Iii 10-K 4 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Feb. 29, 2016	Jun. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	AMERICAN REALTY CAPITAL HEALTHCARE TRUST III, INC.
Entity Central Index Key	1,609,234
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		6,810,986
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, 2015	Dec. 31, 2014
Real Estate Investment Property, at Cost [Abstract]
Land	$ 10,225	$ 0
Buildings, fixtures and improvements	101,129	0
Acquired intangible lease assets	18,450	0
Total real estate investments, at cost	129,804	0
Less: accumulated depreciation and amortization	(1,818)	0
Total real estate investments, net	127,986	0
Cash	16,808	187
Restricted cash	62	0
Straight-line rent receivable	153	0
Prepaid expenses and other assets	714	59
Deferred costs, net	129
Total assets	145,852	246
LIABILITIES AND STOCKHOLDER'S DEFICIT
Mortgage note payable	5,093	0
Mortgage premium, net	155	0
Market lease intangible liabilities, net	1,849	0
Accounts payable and accrued expenses (including $288 and $1,895 due to related parties as of December 31, 2015 and 2014, respectively)	1,827	2,520
Deferred rent	299	0
Distributions payable	904	0
Total liabilities	10,127	2,520
Preferred stock, $0.01 par value, 50,000,000 authorized, none issued and outstanding as of December 31, 2014	0	0
Common stock, $0.01 par value, 300,000,000 shares authorized, 11,554 shares of common stock issued and outstanding as of December 31, 2014	68	0
Additional paid-in capital	145,789	(2,094)
Accumulated deficit	(10,604)	(180)
Total stockholders' equity (deficit)	135,253	(2,274)
Non-controlling interests	472	0
Total equity (deficit)	135,725	(2,274)
Total liabilities and equity (deficit)	$ 145,852	$ 246

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Due to related parties (in usd)	$ 288	$ 1,895
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, authorized	50,000,000	50,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized	300,000,000	300,000,000
Common stock, issued	6,792,797	11,554
Common stock, outstanding	6,792,797	11,554

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2015
Revenues [Abstract]
Rental income	$ 0	$ 2,540
Operating expense reimbursements	0	573
Resident services and fee income	0	1,030
Revenues	0	4,143
Expenses:
Property operating and maintenance	0	1,370
Operating fees to related party	0	46
Acquisition and transaction related	0	4,747
General and administrative	180	1,315
Depreciation and amortization	0	1,737
Total expenses	180	9,215
Operating loss	(180)	(5,072)
Other expense:
Interest expense	0	(73)
Total other expense	0	(73)
Loss before income taxes	(180)	(5,145)
Income tax expense	0	(84)
Net loss	(180)	(5,229)
Net loss attributable to non-controlling interests	0	11
Net loss	(180)	(5,218)
Comprehensive loss	$ (180)	$ (5,218)
Basic and diluted weighted average shares outstanding (in shares)	7,937	3,344,191
Basic and diluted net loss per share (in usd per share)	$ (22.68)	$ (1.56)
Distributions declared per share (in usd per share)		$ 1.56

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Total Stockholders' Equity (Deficit)	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Noncontrolling Interest
Beginning balance (in shares) at Apr. 23, 2014			0
Beginning balance at Apr. 23, 2014	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)			8,888
Issuance of common stock	202	202		202
Common stock offering costs	(2,300)	(2,300)		(2,300)
Common stock issued through distribution reinvestment plan	0
Share-based compensation (in shares)			2,666
Share-based compensation	4	4		4
Net loss	(180)	(180)			(180)
Ending balance (in shares) at Dec. 31, 2014			11,554
Ending balance at Dec. 31, 2014	(2,274)	(2,274)	$ 0	(2,094)	(180)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)			6,688,184
Issuance of common stock	164,853	164,853	$ 67	164,786
Common stock offering costs	(19,078)	(19,078)		(19,078)
Common stock issued through distribution reinvestment plan (in shares)			91,414
Common stock issued through distribution reinvestment plan	2,171	2,171	$ 1	2,170
Common stock repurchases (in shares)			(1,021)
Common stock repurchases	(25)	(25)		(25)
Share-based compensation (in shares)			2,666
Share-based compensation	30	30		30
Dividends	(5,206)	(5,206)			(5,206)
Contributions from non-controlling interest holders	483					483
Net loss	(5,229)	(5,218)			(5,218)	(11)
Ending balance (in shares) at Dec. 31, 2015			6,792,797
Ending balance at Dec. 31, 2015	$ 135,725	$ 135,253	$ 68	$ 145,789	$ (10,604)	$ 472

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2015
Cash flows from operating activities:
Net loss	$ (180)	$ (5,229)
Adjustment to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	0	1,737
Amortization of deferred financing costs	0	11
Amortization of mortgage premium	0	(17)
Amortization of market lease intangibles	0	29
Equity-based compensation	4	30
Changes in assets and liabilities:
Straight-line rent receivable	0	(153)
Prepaid expenses and other assets	(59)	(651)
Accounts payable and accrued expenses	81	1,242
Deferred rent and other liabilities	0	299
Restricted cash	0	(62)
Net cash used in operating activities	(154)	(2,764)
Cash flows from investing activities:
Investments in real estate	0	(122,480)
Deposits paid for real estate acquisitions	0	(25)
Capital expenditures	0	(1)
Net cash used in investing activities	0	(122,506)
Cash flows from financing activities:
Payments of mortgage note payable	0	(31)
Payments of deferred financing costs	0	(119)
Proceeds from issuance of common stock	202	164,853
Common stock repurchases	0	(25)
Payments of offering costs and fees related to common stock issuances	(1,071)	(19,929)
Distributions paid	0	(2,131)
Contributions from non-controlling interest holder	0	483
Advances from (repayments to) related party	1,210	(1,210)
Net cash provided by financing activities	341	141,891
Net change in cash	187	16,621
Cash, beginning of period	0	187
Cash, end of period	187	16,808
Supplemental disclosure of cash flow information:
Cash paid for interest	0	61
Non-cash investing and financing activities:
Payable and accrued offering costs	1,229	378
Assumption of mortgage note payable used to acquire investment in real estate	0	5,124
Premium on assumed mortgage note payable	0	172
Liabilities assumed in real estate acquisitions	0	126
Common stock issued through distribution reinvestment plan	$ 0	$ 2,171

Organization

Organization	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization American Realty Capital Healthcare Trust III, Inc. (including, as required by context, American Realty Capital Healthcare III Operating Partnership, L.P. (the "OP") and its subsidiaries, the "Company") was incorporated on April 24, 2014 as a Maryland corporation that intends to elect and qualify 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, 2015. On August 20, 2014, the Company commenced its initial public offering (the "IPO") on a "reasonable best efforts" basis of up to 125.0 million shares of common stock, $0.01 par value per share, at a price of $25.00 per share, subject to certain volume and other discounts, for total gross proceeds of up to $3.1 billion , pursuant to a registration statement on Form S-11 (File No. 333-196302 ) (as amended, the "Registration Statement"), filed with the U.S. Securities and Exchange Commission (the "SEC") under the Securities Act of 1933, as amended. The Registration Statement also covers up to 26.3 million shares of common stock available pursuant to a distribution reinvestment plan (the "DRIP") under which common stockholders may elect to have their distributions reinvested in additional shares of common stock. On November 15, 2015, the Company suspended its IPO, which was conducted by Realty Capital Securities, LLC (the “Former Dealer Manager”), as exclusive wholesale distributor, effective December 31, 2015, and, on November 18, 2015, the Former Dealer Manager suspended sales activities it performed pursuant to the dealer manager agreement for the IPO, effective immediately. On December 31, 2015, the Company entered into a termination agreement with the Former Dealer Manager to terminate the dealer manager agreement. Due to these circumstances, it is not likely that the Company will resume the IPO. On January 25, 2016, the Company registered an additional 0.7 million shares to be issued under the DRIP pursuant to a registration statement on Form S-3 (File No. 333-209117). On February 11, 2015, the Company received and accepted aggregate subscriptions in excess of the minimum offering amount for the IPO of $2.0 million in shares of common stock, broke general escrow and issued shares to its initial investors, who were admitted as stockholders of the Company. As of December 31, 2015 , the Company had 6.8 million shares of common stock outstanding, including unvested restricted shares and shares issued pursuant to the DRIP, and had received total gross proceeds from the IPO of $167.2 million . Until the net asset value ("NAV") pricing date (as described below), the per share purchase price of shares issued under the DRIP will be equal to $23.75 per share, which is equal to 95% of the offering price in the IPO, which has been suspended. Beginning with the NAV pricing date, the per share price for shares under the DRIP will vary periodically and will be equal to the Company’s per share NAV. The NAV pricing date means the date that the Company first publishes an estimated per share NAV (the "NAV Pricing Date"), which will be on or prior to July 11, 2017, which is 150 days following the second anniversary of the date that the Company broke escrow in the IPO. The Company was formed to primarily acquire a diversified portfolio of healthcare-related assets, including medical office buildings ("MOB"), seniors housing communities and other healthcare-related facilities, for investment purposes. All such properties may be acquired and operated by the Company alone or jointly with another party. The Company may also originate or acquire first mortgage loans secured by real estate. The Company purchased its first property and commenced real estate operations in March 2015. As of December 31, 2015 , the Company owned 19 properties located in 10 states, comprised of 467,932 rentable square feet. Substantially all of the Company's business is conducted through the OP. The Company has no direct employees. American Realty Capital Healthcare III Advisors, LLC (the "Advisor") has been retained to manage the Company's affairs on a day-to-day basis. The Company also has retained American Realty Capital Healthcare III Properties, LLC (the "Property Manager") to serve as the Company's property manager. The Advisor and the 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 other expense reimbursements from the Company for services related to managing the Company's business. The Advisor, Property Manager and Former Dealer Manager have received or will receive fees during the Company's offering, acquisition, operational and liquidation stages. The Former Dealer Manager served as the dealer manager of the IPO and, together with certain of its affiliates, continued to provide the Company with various services through December 31, 2015. RCS Capital Corporation, the parent company of the Former Dealer Manager and certain of its affiliates that provided us 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.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Accounting The accompanying financial statements of the Company are prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“GAAP”). 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 were 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. Use of Estimates The preparation of 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 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, and fair value measurements, as applicable. Real Estate Investments Investments in real estate are recorded at cost. Improvements and replacements are capitalized when they extend the useful life 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. Acquired intangible assets and liabilities consisted of the following as of the period presented. There were no acquired intangible assets as of December 31, 2014 . December 31, 2015 (In thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets: In-place leases $ 16,023 $ 931 $ 15,092 Intangible market lease assets 2,427 81 2,346 Total acquired intangible assets $ 18,450 $ 1,012 $ 17,438 Intangible market lease liabilities $ 1,902 $ 53 $ 1,849 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. The Company had not sold and did not intend to sell any properties as of December 31, 2015 . The Company did not own any properties as of December 31, 2014 . 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 or accreted as an increase or reduction to interest expense over the remaining term of the respective mortgages, as applicable. 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. For the year ended December 31, 2015 , amortization of in-place leases and other intangible assets of $0.9 million is included in depreciation and amortization expense on the consolidated statements of operations and comprehensive loss. For the year ended December 31, 2015 , net amortization of intangible market lease assets and liabilities relating to assumed tenant leases of approximately $35,000 is deducted from rental income on the consolidated statements of operations and comprehensive loss. For the year ended December 31, 2015 , net amortization of intangible market lease liabilities related to assumed leasehold interests of approximately $6,000 is included in property operating and maintenance expense on the consolidated statements of operations and comprehensive loss. The following table provides the projected amortization expense and adjustments to revenues for the next five years: (In thousands) 2016 2017 2018 2019 2020 In-place lease assets $ 3,127 $ 2,362 $ 2,197 $ 2,022 $ 1,794 Total to be added to amortization expense $ 3,127 $ 2,362 $ 2,197 $ 2,022 $ 1,794 Above-market lease assets $ 353 $ 351 $ 318 $ 309 $ 301 Below-market lease liabilities (132 ) (132 ) (132 ) (131 ) (127 ) Total to be deducted from rental income $ 221 $ 219 $ 186 $ 178 $ 174 Above-market ground lease liabilities $ 16 $ 16 $ 16 $ 16 $ 16 Total to be deducted from property operating and maintenance expense $ 16 $ 16 $ 16 $ 16 $ 16 Impairment of Long Lived Assets When 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 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, 2015 , the Company had deposits of $16.8 million of which $15.6 million were in excess of the amount insured by the FDIC. At December 31, 2014 , the Company had deposits of $0.2 million , none of which was 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 reserves related to real estate taxes, maintenance, structural improvements, and debt service. Deferred Costs, Net Deferred costs, net, consist 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, 2015 , the Company had $0.1 million of deferred financing costs, net of accumulated amortization of $11,000 . The Company had no deferred financing costs as of December 31, 2014 . 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, 2015 and 2014 , the Company had not incurred any deferred leasing costs. Revenue Recognition The Company's rental income is primarily related to rent received from tenants in the Company's MOBs and triple-net leased healthcare facility. Rent from tenants in the Company's MOB and triple-net leased healthcare facility 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 property ("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 (other than selling commissions and the dealer manager fee) of the Company may be paid by the Advisor, the Former Dealer Manager or their affiliates on behalf of the Company. Offering and related costs include, but are not limited to, (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 is 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 is 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 are only a liability of the Company to the extent aggregate selling commissions, the dealer manager fees and other organization and offering costs do not exceed 12.0% of the gross proceeds determined at the end of the IPO (See Note 7 — 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 9 — Equity-Based Compensation ). Income Taxes For the period from April 24, 2014 (date of inception) to December 31, 2014, the Company was being taxed as a C corporation because it did not meet the requirements to be taxed as a REIT. The Company intends to make an election to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the "Code") commencing with the taxable year ended December 31, 2015. In order to qualify and continue to qualify as a REIT, the Company must meet 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 the year ended December 31, 2015. 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 qualifies 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. REIT status imposes limitations related to seniors housing communities. Generally, to qualify as a REIT, the Company cannot directly operate seniors housing communities. However, such facilities may generally be operated by a taxable REIT subsidiary ("TRS") pursuant to a lease with the Company. Therefore, the Company has formed a TRS entity under the OP to operate its SHOP pursuant to a contract with an unaffiliated management company. As of December 31, 2015 , the Company owned one SHOP that is owned by its TRS entity, which is owned by 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, 2015 consisted of deferred rent and depreciation. As of December 31, 2015 , the Company had a deferred tax asset of $21,000 with no valuation allowance. The Company did not have any deferred tax assets as of December 31, 2014 . The following table details the composition of the Company's tax expense for the year ended December 31, 2015 , which includes federal and state income taxes incurred by the Company's TRS entity. No tax expense was recorded for the period from April 24, 2014 (date of inception) to December 31, 2014 . The Company estimated its income tax expense relating to its TRS entity using a combined federal and state rate of approximately 41.2% for the year ended December 31, 2015 . These income taxes are reflected in income tax expense on the accompanying consolidated statements of operations and comprehensive loss. Year Ended December 31, 2015 (In thousands) Current Deferred Federal expense (benefit) $ 79 $ (16 ) State expense (benefit) 26 (5 ) $ 105 $ (21 ) As of December 31, 2015 and 2014 , the Company had no material uncertain income tax positions. The tax period for the period from April 24, 2014 (date of inception) to December 31, 2014 remains 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. From a tax perspective, of the amounts distributed during the year ended December 31, 2015 , 93.4% , or $1.04 per share per annum, represented a return of capital and 6.6% , or $0.07 per share per annum, represented ordinary dividend income. Per Share Data Net income (loss) per basic share of common stock is calculated by dividing net income (loss) attributable to stockholders 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 SHOPs. Management evaluates the operating performance of the Company's investments in real estate and SHOPs 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 has not yet selected a transition method and is currently evaluating the impact of this new guidance. 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 is permitted provided that the guidance is 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 to 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 variable interest entities ("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 assessed the impact from the adoption of this revised guidance and has determined that there will be no material impact to its financial position, results of operations and cash flows. 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 will result in the reclassification of $0.1 million of deferred issuance costs related to the Company's mortgage note payable from deferred costs, net to mortgage note payable in the Company's consolidated balance sheet 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 is currently evaluating the impact of this new guidance.

Real Estate Investments

Real Estate Investments	12 Months Ended
	Dec. 31, 2015
Real Estate Investments, Net [Abstract]
Real Estate Investments	Real Estate Investments The Company owned 19 properties as of December 31, 2015 . The Company focuses on investing 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 the following acquisitions represent 5% or more of the Company's total portfolio rentable square feet or annualized straight-line rental income as of December 31, 2015 : On July 24, 2015, the Company, through a wholly owned subsidiary, completed the acquisition of the fee simple interest in a medical office building and a leasehold interest in an adjacent parking lot located in Decatur, Georgia ("Decatur Medical Office Building"). The seller of Decatur Medical Office Building was GCS Stemmer Properties, LLC, which had no preexisting relationship with the Company. The contract purchase price of Decatur Medical Office Building was $5.1 million and was funded with proceeds from the Company's IPO. The Company accounted for the purchase of Decatur Medical Office Building as a business combination and incurred acquisition related costs of $0.1 million , which are reflected in the acquisition and transaction related line on the accompanying consolidated statements of operations and comprehensive loss. On August 3, 2015, the Company, through a wholly owned subsidiary, completed the acquisition of the fee simple interest in a medical office building located in Cleveland, Ohio ("Buckeye Health Center"). The seller of Buckeye Health Center was 200 E. 18 th LLC, which had no preexisting relationship with the Company. The contract purchase price of Buckeye Health Center was $5.6 million and was funded with proceeds from the Company's IPO. The Company accounted for the purchase of Buckeye Health Center as a business combination and incurred acquisition related costs of $0.1 million , which are reflected in the acquisition and transaction related line on the accompanying consolidated statements of operations and comprehensive loss. On August 14, 2015, the Company, through a wholly owned subsidiary, completed the acquisition of the fee simple interest in two adjacent medical office buildings located in Lawrenceville, Georgia ("Philip Professional Center"). The seller of Philip Professional Center was ICM VI – Philip Centre, LP, which had no preexisting relationship with the Company. The contract purchase price of Philip Professional Center was $9.0 million and was funded with $3.9 million in proceeds from the Company's IPO and the assumption of $5.1 million in existing mortgage debt. The Company accounted for the purchase of Philip Professional Center as a business combination and incurred acquisition related costs of $0.2 million , which are reflected in the acquisition and transaction related line on the accompanying consolidated statements of operations and comprehensive loss. On August 21, 2015, the Company, through a wholly owned subsidiary, completed the acquisition of the fee simple interest in a seniors housing community located in Collinsville, Illinois ("Cedarhurst of Collinsville"). The seller of Cedarhurst of Collinsville was Cedarhurst of Collinsville, LLC, which had no preexisting relationship with the Company. The contract purchase price of Cedarhurst of Collinsville was $11.6 million and was funded with proceeds from the Company's IPO. The Company accounted for the purchase of Cedarhurst of Collinsville as a business combination and incurred acquisition related costs of $0.4 million , which are reflected in the acquisition and transaction related line on the accompanying consolidated statements of operations and comprehensive loss. On August 25, 2015, the Company, through a wholly owned subsidiary, completed the acquisition of the fee simple interest in a seniors housing community located in Richmond, Kentucky ("Arcadian Cove Assisted Living"). The sellers of Arcadian Cove Assisted Living were Arcadian Cove, LLC and Arcadian Assisted Living, LLC, neither of which had any preexisting relationship with the Company. The contract purchase price of Arcadian Cove Assisted Living was $4.8 million and was funded with proceeds from the Company's IPO. The Company accounted for the purchase of Arcadian Cove Assisted Living as a business combination and incurred acquisition related costs of $0.2 million , which are reflected in the acquisition and transaction related line on the accompanying consolidated statements of operations and comprehensive loss. On September 11, 2015, the Company, through a wholly owned subsidiary, completed the acquisition of the fee simple interest in a medical office building located in Woodbury, Minnesota ("Woodlake Office Center"). The seller of Woodlake Office Center was Kraus-Anderson, Incorporated, which had no preexisting relationship with the Company. The contract purchase price of Woodlake Office Center was $14.9 million and was funded with proceeds from the Company's IPO. The Company accounted for the purchase of Woodlake Office Center as a business combination and incurred acquisition related costs of $0.3 million , which are reflected in the acquisition and transaction related line on the accompanying consolidated statements of operations and comprehensive loss. On October 8, 2015, the Company, through a wholly owned subsidiary, completed the acquisition of the fee simple interest in a medical office building located in Gilbert, Arizona ("Greenfield Medical Center"). The seller of Greenfield Medical Center was Holworthy Property, LLC, which had no preexisting relationship with the Company. The contract purchase price of Greenfield Medical Center was $7.0 million and was funded with proceeds from the Company's IPO. The Company accounted for the purchase of Greenfield Medical Center as a business combination and incurred acquisition related costs of $0.2 million , which are reflected in the acquisition and transaction related line on the accompanying consolidated statements of operations and comprehensive loss. On October 22, 2015, the Company, through a wholly owned subsidiary, completed the acquisition of the fee simple interest in a medical office building located in Ft. Meyers, Florida ("Lee Memorial Health System Outpatient Center"). The seller of Lee Memorial Health System Outpatient Center was Fort Myers Creekside MOB, LP, which had no preexisting relationship with the Company. The contract purchase price of Lee Memorial Health System Outpatient Center was $5.3 million and was funded with proceeds from the Company's IPO. The Company accounted for the purchase of Lee Memorial Health System Outpatient Center as a business combination and incurred acquisition related costs of $0.1 million , which are reflected in the acquisition and transaction related line on the accompanying consolidated statements of operations and comprehensive loss. On December 4, 2015, the Company, through a wholly owned subsidiary, completed the acquisition of the fee simple interest in a medical office building located in Warren, Michigan ("Beaumont Medical Center"). The seller of Beaumont Medical Center was Beaumont Medical Building-Warren, LLC, which had no preexisting relationship with the Company. The contract purchase price of Beaumont Medical Center was $13.7 million and was funded with proceeds from the Company's IPO. The Company accounted for the purchase of Beaumont Medical Center as a business combination and incurred acquisition related costs of $0.3 million , which are reflected in the acquisition and transaction related line on the accompanying consolidated statements of operations and comprehensive loss. On December 4, 2015, the Company, through a wholly owned subsidiary, completed the acquisition of the leasehold interest in a medical office building located in Joliet, Illinois ("Madison Medical Plaza"). The seller of Madison Medical Plaza was Joliet Investors, LLLP, which had no preexisting relationship with the Company. The contract purchase price of Madison Medical Plaza was $19.5 million and was funded with proceeds from the Company's IPO. The Company accounted for the purchase of Madison Medical Plaza as a business combination and incurred acquisition related costs of $1.9 million , which are reflected in the acquisition and transaction related line on the accompanying consolidated statements of operations and comprehensive loss. The following table presents the allocation of the assets acquired and liabilities assumed during the year ended December 31, 2015 . There were no assets acquired or liabilities assumed during the period from April 24, 2014 (date of inception) to December 31, 2014 . Year Ended (Dollar amounts in thousands) December 31, 2015 Real estate investments, at cost: Land $ 10,225 Buildings, fixtures and improvements 101,129 Total tangible assets 111,354 Acquired intangibles: In-place leases (1) 16,023 Market lease assets (1) 2,427 Market lease liabilities (1) (1,902 ) Total assets acquired, net 127,902 Mortgage note payable assumed to acquire real estate investment (5,124 ) Premium on mortgage assumed (172 ) Other liabilities assumed (126 ) Cash paid for acquired real estate investments $ 122,480 Number of properties purchased 19 _______________ (1) Weighted-average remaining amortization periods for in-place leases, market lease assets and market lease liabilities acquired during the year ended December 31, 2015 were 6.9 , 8.8 and 16.1 years, respectively, as of each property's respective acquisition date. The following table presents unaudited pro forma information as if the acquisitions that were completed during the year ended December 31, 2015 had been consummated on April 24, 2014 (date of inception). Additionally, the unaudited pro forma net income (loss) was adjusted to reclassify acquisition and transaction related expenses of $4.7 million from the year ended December 31, 2015 to the period from April 24, 2014 (date of inception) to December 31, 2014 . Year Ended For the Period from April 24, 2014 (In thousands, except for share and per share information) December 31, 2015 December 31, 2014 Pro forma revenues (1) $ 14,089 $ 9,727 Pro forma net income (loss) (1) $ 1,981 $ (2,621 ) Basic weighted average shares outstanding 3,344,191 7,937 Basic pro forma net income (loss) per share $ 0.59 $ (330.23 ) Diluted weighted average shares outstanding 3,347,916 7,937 Diluted pro forma net income (loss) per share $ 0.57 $ (330.23 ) _______________ (1) For the year ended December 31, 2015 , aggregate revenues and net income derived from the Company's 2015 acquisitions (for the Company's period of ownership) were $4.1 million and $1.0 million , respectively. 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, 2015 . These amounts exclude contingent rent payments, as applicable, that may be collected from certain tenants based on provisions related to sales thresholds and increases in annual rent based on exceeding certain economic indexes, among other items. (In thousands) Future Minimum Base Rent Payments 2016 $ 8,760 2017 8,743 2018 8,535 2019 8,207 2020 7,762 Thereafter 25,166 $ 67,173 As of December 31, 2015 , 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 Company did not own any properties and had no tenant concentrations as of December 31, 2014 . The following table lists the states where the Company has a concentration 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 as of December 31, 2015 . The Company did not own any properties and had no state concentrations as of December 31, 2014 . State December 31, 2015 Georgia 11.9% Illinois 41.9% Michigan 9.8%

Mortgage Note Payable

Mortgage Note Payable	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Mortgage Notes Payable	Mortgage Note Payable The following table reflects the Company's mortgage note payable as of December 31, 2015 . The Company had no mortgage notes payable as of December 31, 2014 . Encumbered Properties Outstanding Loan Amount as of Effective Interest Rate Interest Rate Portfolio December 31, 2015 Maturity (In thousands) Philip Professional Center — Lawrenceville, GA 2 $ 5,093 4.0 % Fixed Oct. 2019 As of December 31, 2015 , the Company had pledged $9.2 million in real estate, at cost, as collateral for the mortgage note payable. This real estate is not available to satisfy other debts and obligations unless first satisfying the mortgage note payable on the property. The Company makes payments of principal and interest on its mortgage note payable on a monthly basis. The following table summarizes the scheduled aggregate principal payments on the Company's mortgage note payable for the five years subsequent to December 31, 2015 : (In thousands) Future Principal Payments 2016 $ 96 2017 100 2018 104 2019 4,793 2020 — Thereafter — $ 5,093

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	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. The Company is required to disclose the fair value of financial instruments for which it is practicable to estimate that value. The fair value of short-term financial instruments such as cash, restricted cash, straight-line rent receivable, prepaid expenses and other assets, deferred costs, net, accounts payable and accrued expenses, deferred rent and distributions payable approximates their carrying value on the consolidated balance sheets due to their short-term nature. The fair value of the Company's remaining financial instrument that is not reported at fair value on the consolidated balance sheet is reported below: Carrying Amount (1) at Fair Value at Carrying Amount at Fair Value at (In thousands) Level December 31, 2015 December 31, 2015 December 31, 2014 December 31, 2014 Mortgage note payable and premium, net 3 $ 5,248 $ 5,181 $ — $ — _______________ (1) Carrying value includes mortgage note payable of $5.1 million and mortgage premium, net of $0.2 million as of December 31, 2015 . The fair value of the mortgage note payable is estimated using a discounted cash flow analysis, based on the Advisor's experience with similar types of borrowing arrangements.

Common Stock

Common Stock	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Common Stock	Common Stock The Company had 6.8 million and 11,554 shares of common stock outstanding, including unvested restricted shares and shares issued pursuant to the DRIP, and had received total gross proceeds of $167.2 million and $0.2 million as of December 31, 2015 and 2014 , respectively. The Company has paid distributions on a monthly basis to stockholders of record on a daily basis at a rate equal to $0.0042808219 per day, which is equivalent to $1.56 per annum, per share of common stock, beginning on March 15, 2015. 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 of directors 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 Company's board of directors has adopted a Share Repurchase Program (as amended, the “SRP”) that 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 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 Company begins to calculate NAV, the repurchase price per share will depend on the length of time investors have 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, and after two years from the purchase date — the lower of $23.75 or 95% of the amount they actually paid for each share (in each case, as adjusted for any stock distributions, combinations, splits and recapitalizations). 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% , 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% , if the person seeking repurchase has held his or her shares for a period greater than four years. 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 of directors. Until the 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. During the quarter ended December 31, 2015, our board of directors authorized the Company not to accept any repurchase requests received during that quarter due to a lack of 2015 repurchase availability remaining under the share repurchase program prior to its amendment. On January 25, 2016, the Company's board of directors approved and amended the SRP (the "SRP Amendment") to supersede and replace the existing SRP. Under the SRP Amendment, repurchases of shares of the Company's common stock, when requested, are at the sole discretion of the board of directors 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, with a maximum for any fiscal year of 5.0% of the weighted average number of shares of common stock outstanding during the previous fiscal year. 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. When a stockholder requests a repurchase and the repurchase is approved, 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, 2015 : Number of Shares Repurchased Average Price per Share Cumulative repurchases as of December 31, 2014 — $ — Year ended December 31, 2015 (1) 1,021 24.97 Cumulative repurchases as of December 31, 2015 (1) 1,021 $ 24.97 _______________ (1) Excludes rejected repurchases of 1,336 shares for approximately $33,000 at an average price per share of $24.95 , which were unfulfilled as of December 31, 2015 . There were no other unfulfilled share repurchases for the period from April 24, 2014 (date of inception) to December 31, 2015 . The SRP will immediately terminate if the Company's shares are listed on any national securities exchange. In addition, our board of directors may amend, suspend (in whole or in part) or terminate the SRP at any time upon 30 days’ prior written notice to our stockholders. 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. Participants purchasing shares pursuant to the DRIP have the same rights and are treated in the same manner as if such shares were issued pursuant to the IPO. The board of directors 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 to equity in the accompanying consolidated balance sheets in the period distributions are declared. During the year ended December 31, 2015 , the Company issued 0.1 million shares of common stock pursuant to the DRIP, generating aggregate proceeds of $2.2 million . The Company did not issue any shares of common stock pursuant to the DRIP during the period from April 24, 2014 (date of inception) to December 31, 2014 .

Related Party Transactions and

Related Party Transactions and Arrangements	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions and Arrangements	Related Party Transactions and Arrangements As of December 31, 2015 and 2014 , American Realty Capital Healthcare III Special Limited Partnership, LLC (the "Special Limited Partner"), an entity controlled by the Sponsor, 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. As of December 31, 2015 and 2014 , the Company had $0.3 million and $1.9 million , respectively, payable to related parties. Fees Paid in Connection with the IPO The Former Dealer Manager was paid fees and compensation in connection with the sale of the Company's common stock in the IPO. The Former Dealer Manager was paid a selling commission of up to 7.0% of the per share purchase price of the IPO proceeds before reallowance of commissions earned by participating broker-dealers. In addition, the Former Dealer Manager received 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 able to reallow its dealer manager fee to such participating broker-dealers. A participating broker dealer may have elected to receive a fee equal to 7.5% of the gross proceeds from the sale of shares (not including selling commissions and dealer manager fees) 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 was elected, the dealer manager fee was be reduced to 2.5% of gross proceeds (not including selling commissions and dealer manager fees). The following table details total selling commissions and dealer manager fees incurred from and due to the Former Dealer Manager as of and for the periods presented: Year Ended For the Period from April 24, 2014 Payable as of December 31, (In thousands) December 31, 2015 December 31, 2015 2014 Total commissions and fees incurred from and due to the Former Dealer Manager $ 14,368 $ — $ — $ — The Advisor, Sponsor and Former Dealer Manager and their affiliates receive compensation and reimbursement for services relating to the IPO. All offering costs incurred by the Company and the Advisor, Sponsor and Former Dealer Manager and their affiliates on behalf of the Company are charged to additional paid-in capital on the accompanying consolidated balance sheets. The following table details fees and reimbursable offering costs incurred and payable as of and for the periods presented: Year Ended For the Period from April 24, 2014 Payable as of December 31, (In thousands) December 31, 2015 December 31, 2015 2014 Fees and expense reimbursements incurred from and due to the Advisor and its affiliates $ 1,953 $ 66 $ 12 $ 66 Fees and expense reimbursements incurred from and due to the Former Dealer Manager and its affiliates 1,487 619 228 619 Fees and expense reimbursements incurred from and due to the Sponsor 7 — — — Total fees and expense reimbursements incurred from and due to the Advisor, Sponsor and Former Dealer Manager and their affiliates $ 3,447 $ 685 $ 240 $ 685 The Company is responsible for offering and related costs from the IPO, excluding selling 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 are the Advisor's responsibility. As of December 31, 2015 , offering and related costs, excluding commissions and dealer manager fees, exceeded 2.0% of gross proceeds received from the IPO by $3.7 million . After the general escrow break, the Advisor caps cumulative offering costs for the IPO, including selling commissions and dealer manager fees, incurred by the Company, net of unpaid amounts, to 15.0% of gross common stock proceeds during the offering period of the IPO. As of December 31, 2015 , cumulative offering costs were $21.4 million . As of December 31, 2015 , cumulative offering costs, net of unpaid amounts, were less than 15.0% of gross common stock proceeds. Fees and Participations Paid in Connection With the Operations of the Company The Advisor receives an acquisition fee of 1.5% of the contract purchase price of each property acquired and 1.5% of the amount advanced for a loan or other investment. The Advisor is also reimbursed for services provided for which it incurs investment-related expense, or insourced expenses. Such insourced expenses may not exceed 0.5% of the contract purchase price of each acquired property and 0.5% of the amount advanced for a loan or other investment. Additionally, the Company reimburses the Advisor for third party acquisition expenses. The Company also reimburses the Advisor for legal expenses it or its affiliates incur in connection with the selection, evaluation and acquisition of assets, in an amount not to exceed 0.1% of the contract purchase price of each property or 0.1% of the amount advanced for each loan or other investment. Once the proceeds from the IPO have been fully invested, the aggregate amount of acquisition fees and any financing coordination fees (as described below) may not exceed 2.0% of the contract purchase price and the amount advanced for a loan or other investment for all the assets acquired. In no event will the total of all acquisition fees, acquisition expenses and any financing coordination fees payable with respect to a particular investment 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. If the Advisor provides services in connection with the origination or refinancing of any debt that the Company obtains and uses to acquire properties or to make other permitted investments, or that is assumed, directly or indirectly, in connection with the acquisition of properties, the Company will pay the Advisor a financing coordination fee equal to 0.75% of the amount available and/or outstanding under such financing, subject to certain limitations. For its asset management services, the Company pays the Advisor an asset management subordinated participation by causing the OP to issue (subject to periodic approval by the board of directors) to the Advisor performance-based restricted, forfeitable partnership units of the OP designated as "Class B Units." The Class B Units are intended to be profit interests and will vest, and no longer be subject to forfeiture, at such time as any one of the following events occur: (1) the termination of the advisory agreement by an affirmative vote of a majority of the Company's independent directors without cause; (2) a listing of the Company's common stock on a national securities exchange; or (3) a transaction to which the Company or the OP is a party, as a result of which OP Units or the Company's common stock are or will be exchanged for or converted into the right, or the holders of such securities will otherwise be entitled, to receive cash, securities or other property or any combination thereof; provided that the Advisor, pursuant to the advisory agreement, is providing services to the Company immediately prior to the occurrence of an event of the type described therein (the "performance condition"). Such Class B Units will be forfeited immediately if the advisory agreement is terminated for any reason other than a termination without cause. When and if approved by the board of directors, the Class B Units are expected to be 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 is an amount equal to: (i) the excess of (A) the product of (y) 0.1875% multiplied by (z) the cost of the Company's assets (until the NAV Pricing Date, then the lower of the cost of assets and the fair value of the Company’s assets) 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. The Advisor will receive distributions on unvested Class B Units equal to the distribution received on the Company's common stock. Such distributions on issued Class B Units will be expensed in the consolidated statements of operations and comprehensive loss until the performance condition is considered probable to occur. As of December 31, 2015 , the Company's board of directors had approved the issuance of 7,254 Class B Units to the Advisor in connection with this arrangement. Unless the Company contracts with a third party, the Company will pay the Property Manager a property management fee of 1.5% of gross revenues from the Company's single-tenant net leased properties and 2.5% of gross revenues from all other types of properties. The Company will also reimburse 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 affiliates of the Property Manager both a property management fee and an oversight fee with respect to any particular property. Property management fees are recorded to operating fees to related party in the accompanying consolidated statements of operations and comprehensive loss. The Former Dealer Manager and its affiliates also provided other general professional services through December 31, 2015. The Advisor pays general and administrative expenses on behalf of the Company, for which, the Company subsequently reimburses the Advisor. These fees and reimbursements are included in general and administrative expenses in the accompanying consolidated statements 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 For the Period from April 24, 2014 December 31, 2015 December 31, 2014 Payable as of December 31, (In thousands) Incurred Forgiven Incurred Forgiven 2015 2014 One-time fees and reimbursements: Acquisition fees $ 1,910 $ — $ — $ — $ — $ — Acquisition cost reimbursements 637 — — — — — Financing coordination fees 38 — — — — — Ongoing fees and reimbursements: Property management fees 46 3 — — 4 — Professional fees and reimbursements 343 — — — 43 — Distributions on Class B units 2 — — — 1 — Total related party operating fees and reimbursements $ 2,976 $ 3 $ — $ — $ 48 $ — The Company reimburses the Advisor's costs of providing administrative services, subject to the limitation that the Company will not reimburse the Advisor for any amount by which the Company's operating expenses at the end of the four preceding fiscal quarters exceeds 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, impairments 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 determine that such excess was justified based on unusual and nonrecurring factors which they deem sufficient, in which case the excess amount may be reimbursed to the Advisor in subsequent periods. Additionally, the Company will reimburse the Advisor for personnel costs in connection with other services during the operational stage; however, the Company may not reimburse the Advisor for personnel costs in connection with services for which the Advisor receives acquisition fees, acquisition expense reimbursements or real estate commissions or for persons serving as executive officers of the Company. No reimbursement was incurred from the Advisor for providing such services during the year ended December 31, 2015 or during the period from April 24, 2014 (date of inception) to December 31, 2014 . For the year ended December 31, 2015 , the Company's operating expenses exceeded the 2%/25% Limitation by $0.6 million . The Company's board of directors concluded that the expenses in excess of the 2%/25% Limitation were due to unusual and non-recurring factors caused by the Company's limited operating history and were, therefore, justified. No reimbursement of operating expenses in excess of the 2%/25% Limitation was made by the Advisor to the Company during the year ended December 31, 2015 or the period from April 24, 2014 (date of inception) to 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 waive certain fees. If the Advisor waives 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 may be forgiven are not deferrals and accordingly, will not be paid to the Advisor in cash. In certain instances, to improve the Company's working capital, the Advisor may elect to absorb a portion of the Company's general and administrative costs. No expenses were absorbed by the Advisor during the year ended December 31, 2015 or the period from April 24, 2014 (date of inception) to December 31, 2014 . The predecessor to AR Global is 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 is also party to a transfer agency agreement with American National Stock Transfer, LLC, a subsidiary of the parent company of the Former Dealer Manager (“ANST”), 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 a third-party transfer agent. 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. The Company’s current provider of sub-transfer agency services will provide the Company with transfer agency services (including broker and stockholder servicing, transaction processing, year-end IRS reporting and other services) until the Company enters into a definitive transfer agency agreement with a transfer agent. Fees and Participations Paid in Connection with a Listing or the Liquidation of the Company's Real Estate Assets The Company will pay the Advisor 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 stockholder's capital exceeds 6.0% per annum, the Advisor will be 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 will be payable only upon the sale of assets, distributions or other event which results in the return on stockholder's capital exceeding 6.0% per annum. No subordinated performance fees were incurred during the year ended December 31, 2015 or the period from April 24, 2014 (date of inception) to December 31, 2014 . The Company will pay the Advisor a real estate commission on the sale of property, not to exceed the lesser of 2.0% of the contract sale price of the property and 50.0% of the total brokerage commission paid if a third party broker is also involved; provided, however, that in no event may the real estate commissions paid to the Advisor, its affiliates and agents and unaffiliated third parties exceed the lesser of 6.0% of the contract sales price and a reasonable, customary and competitive real estate commission. Real estate commissions will only be payable to the Advisor if the Advisor or its affiliates, as determined by a majority of the independent directors, provided a substantial amount of services in connection with the sale. No such fees were incurred during the year ended December 31, 2015 or the period from April 24, 2014 (date of inception) to December 31, 2014 . The Company will pay the Special Limited Partner a subordinated participation in the net sales proceeds of the sale of real estate assets of 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 will not be entitled to the subordinated participation in the net sales proceeds unless investors have received a return of their capital plus a return equal to a 6.0% cumulative non-compounded annual return on their capital contributions. No participation in net sales proceeds was incurred during the year ended December 31, 2015 or the period from April 24, 2014 (date of inception) to December 31, 2014 . If the Company's shares of common stock are listed on a national securities exchange, the Special Limited Partner will receive a subordinated incentive listing distribution from the OP equal to 15.0% of the amount by which the Company's market value 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 Company cannot assure that it will provide this 6.0% annual return but 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 ended December 31, 2015 or the period from April 24, 2014 (date of inception) to December 31, 2014 . Neither the Special Limited Partner nor any of its affiliates can earn both the subordinated participation in the net sales proceeds and the subordinated listing distribution. Upon termination or non-renewal of the advisory agreement with the Advisor, with or without cause, the Special Limited Partner will be entitled to receive distributions from the OP equal to 15% 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 may 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 occurs.

Economic Dependency

Economic Dependency	12 Months Ended
	Dec. 31, 2015
Economic Dependency [Abstract]
Economic Dependency	Economic Dependency Under various agreements, the Company has engaged or will engage the Advisor, its affiliates and entities under common ownership 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, asset acquisition and disposition decisions, the sale of shares of the Company's common stock available for issue, 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, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity-Based Compensation	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 action by the Company's board of directors or the stockholders, after initial election to the board of directors and after each annual stockholder's meeting, with such shares vesting annually beginning with the one year anniversary of initial election to the board of directors and the date of the next annual meeting, respectively. Restricted shares 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 6.3 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 common shares from the Company under terms that provide for vesting over a specified period of time or upon attainment of pre-established performance objectives. 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. 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 common shares 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, 2014 2,666 $ 22.50 Granted 2,666 22.50 Vested (533 ) 22.50 Forfeitures — — Unvested, December 31, 2015 4,799 $ 22.50 As of December 31, 2015 , the Company had $0.1 million of unrecognized compensation cost related to unvested restricted share award grants under the Company's RSP. That cost is expected to be recognized over a weighted average period of 3.5 years . The fair value of the restricted shares is being expensed on a straight-line basis over the service period of five years. Compensation expense related to restricted shares was approximately $30,000 and $4,000 for the year ended December 31, 2015 and the period from April 24, 2014 (date of inception) to December 31, 2014 , respectively. Compensation expense related to restricted shares is recorded as general and administrative expense in the accompanying consolidated statements of operations and comprehensive loss.

Non-Controlling Interests

Non-Controlling Interests	12 Months Ended
	Dec. 31, 2015
Noncontrolling Interest [Abstract]
Non-Controlling Interests	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, 2015 and 2014 , the Advisor held 90 OP Units, which represents a nominal percentage of the aggregate OP ownership. A holder of limited partner interests 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, as allowed by the limited partnership agreement of the OP. The remaining rights of the holders of limited partner interests 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. No distributions were paid to OP Unit holders during the year ended December 31, 2015 or the period from April 24, 2014 (date of inception) to December 31, 2014 . The Company has an investment arrangement with unaffiliated third parties whereby such investors receive an ownership interest in certain of the Company's property owning subsidiaries and are entitled to receive a proportionate share of the net operating cash flow derived from the subsidiaries' property. Upon disposition of a property subject to this investment arrangement, the investors will receive a proportionate share of the net proceeds from the sale of the property. The investors have no recourse to any other assets of the Company. Due to the nature of the Company's involvement with the arrangement and the significance of its investment in relation to the investment of the third parties, the Company has determined that it controls each entity in this arrangement and therefore the entities related to this arrangement are consolidated within the Company's financial statements. A non-controlling interest is recorded for the investors ownership interest in the properties. The following table summarizes the activity related to investment arrangements with the unaffiliated third party. As of December 31, 2014 , the Company did not own any real estate investments and therefore had no investment arrangements with unaffiliated third parties. As of December 31, 2015 Property Name (Dollar amounts in thousands) Investment Date Third Party Net Investment Amount as of December 31, 2015 Non-Controlling Ownership Percentage as of December 31, 2015 Net Real Estate Assets Subject to Investment Arrangement Mortgage Notes Payable Subject to Investment Arrangement Distributions for the Year Ended December 31, 2015 UnityPoint Clinic - Muscatine, IA Dec. 2015 $ 294 5 % $ 6,024 $ — $ — UnityPoint Clinic - Moline, IL Dec. 2015 189 5 % 3,846 — —

Net Loss Per Share

Net Loss Per Share	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share The following is a summary of the basic and diluted net loss per share computation for the year ended December 31, 2015 and for the period from April 24, 2014 (date of inception) to December 31, 2014 : Year Ended For the Period from April 24, 2014 (In thousands) December 31, 2015 December 31, 2014 Net loss attributable to stockholders $ (5,218 ) $ (180 ) Basic and diluted weighted average shares outstanding 3,344,191 7,937 Basic and diluted net loss per share $ (1.56 ) $ (22.68 ) The Company had the following potentially dilutive securities as of December 31, 2015 and 2014 , which were excluded from the calculation of diluted loss per share attributable to stockholders as their effect would have been antidilutive: December 31, 2015 2014 Unvested restricted shares 4,799 2,666 OP Units 90 90 Class B Units 7,254 — Total potentially dilutive securities 12,143 2,756

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting During the year ended December 31, 2015 , 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. During the period from April 24, 2014 (date of inception) to December 31, 2014 , the Company did not own any properties and had not commenced real estate operations. These operating segments are the segments of the Company for which separate financial information is available and for which segment results are evaluated by the Company's executive officers in deciding how to allocate resources and in assessing performance. 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 the Company operates through engaging independent third-party managers. The Company evaluates performance of the combined properties in each segment based on net operating income. Net operating income is defined as total revenues less property operating and maintenance expenses. There are no intersegment sales or transfers. The Company uses net operating income to evaluate the operating performance of real estate investments and to make decisions concerning the operation of the properties. The Company believes that net operating income is useful to investors in understanding the value of income-producing real estate. Net income (loss) is the GAAP measure that is most directly comparable to net operating income; however, net operating income should not be considered as an alternative to net income as the primary indicator of operating performance as it excludes certain items such as operating fees to the Advisor and Property Manager, acquisition and transaction related expenses, general and administrative expenses, depreciation and amortization expense, interest expense and income tax expense. Additionally, net operating income as defined by the Company may not be comparable to net operating income as defined by other REITs or companies. The following tables reconcile the segment activity to consolidated net loss for the year ended December 31, 2015 . Year Ended December 31, 2015 (In thousands) Medical Office Buildings Triple-Net Leased Healthcare Facilities Seniors Housing — Operating Properties Consolidated Revenues: Rental income $ 2,393 $ 147 $ — $ 2,540 Operating expense reimbursements 573 — — 573 Resident services and fee income — — 1,030 1,030 Total revenues 2,966 147 1,030 4,143 Property operating and maintenance 717 1 652 1,370 Net operating income $ 2,249 $ 146 $ 378 2,773 Operating fees to related party (46 ) Acquisition and transaction related (4,747 ) General and administrative (1,315 ) Depreciation and amortization (1,737 ) Interest expense (73 ) Income tax expense (84 ) Net loss attributable to non-controlling interests 11 Net loss attributable to stockholders $ (5,218 ) The following table reconciles the segment activity to consolidated total assets as of the periods presented: December 31, (In thousands) 2015 2014 ASSETS Investments in real estate, net: Medical office buildings $ 112,093 $ — Triple-net leased healthcare facilities 4,720 — Seniors housing — operating properties 11,173 — Total investments in real estate, net 127,986 — Cash 16,808 187 Restricted cash 62 — Straight-line rent receivable 153 — Prepaid expenses and other assets 714 59 Deferred costs, net 129 — Total assets $ 145,852 $ 246

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company has entered into operating 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. 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. (In thousands) Future Minimum Base Rental Payments 2016 $ 104 2017 104 2018 105 2019 106 2020 109 Thereafter 3,440 $ 3,968 Total rental expense from the Company's operating leases was approximately $23,000 during the year ended December 31, 2015 . The Company did not own any real estate investments and therefore had no operating lease agreements or related expense during or for the period from April 24, 2014 (date of inception) to December 31, 2014 . 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. 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. The Company has 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.

Quarterly Results (Unaudited)

Quarterly Results (Unaudited)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Results (Unaudited)	Quarterly Results (Unaudited) Presented below is a summary of the unaudited quarterly financial information for the year ended December 31, 2015 and the period from April 24, 2014 (date of inception) to December 31, 2014 . Three Months Ended (In thousands, except for share and per share data) March 31, June 30, September 30, December 31, Total revenues $ 11 $ 192 $ 1,184 $ 2,756 Net loss attributable to stockholders $ (319 ) $ (601 ) $ (1,561 ) $ (2,737 ) Basic and diluted weighted average shares outstanding 164,258 2,047,581 4,614,402 6,467,301 Basic and diluted loss per share $ (1.94 ) $ (0.29 ) $ (0.34 ) $ (0.42 ) Period from April 24, 2014 (date of inception) to Three Months Ended (In thousands, except for share and per share data) June 30, 2014 September 30, 2014 December 31, 2014 Total revenues $ — $ — $ — Net loss $ (16 ) $ (28 ) $ (136 ) Basic and diluted weighted average shares outstanding 5,359 8,888 8,888 Basic and diluted loss per share $ (2.99 ) $ (3.15 ) $ (15.30 )

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	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: Registration of DRIP Shares On January 25, 2016, the Company registered an additional 0.7 million shares to be issued under the DRIP pursuant to a registration statement on Form S-3 (File No. 333-209117). Amended and Restated SRP On January 25, 2016, the board of directors of the Company unanimously approved an amended and restated share repurchase program (the “A&R SRP”). Effective February 28, 2016, beginning on and following the NAV Pricing Date, the repurchase price per share for requests other than for death or disability will be equal to the NAV, in each case 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% , 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% , if the person seeking repurchase has held his or her shares for a period greater than four years. In the case of requests for death or disability, the repurchase price per share will be equal to the NAV at the time of repurchase beginning on and following the NAV Pricing Date. Repurchases pursuant to the A&R SRP, when requested, 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, with a maximum for any fiscal year of 5.0% of the weighted average number of shares of common stock outstanding during the previous fiscal year. Funding for repurchases pursuant to the A&R SRP for any given fiscal semester will be limited to proceeds received during that same fiscal semester through the issuance of common stock pursuant to any distribution reinvestment plan in effect from time to time; provided that the board of directors has the power, in its sole discretion, to determine the amount of shares repurchased during any fiscal semester as well as the amount of funds to be used for that purpose. Sponsor Transaction In January 2016, AR Global became the successor business to AR Capital, LLC and became the parent of the Company's current Sponsor. RCS Capital Corporation Bankruptcy RCS Capital Corporation, the parent company of the Former Dealer Manager and certain of its affiliates that provided us 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. American National Stock Transfer, LLC Termination On February 10, 2016, AR Global received written notice from ANST, the Company's transfer agent and an affiliate of the Company's Former Dealer Manager, that it would wind down operations by the end of the month. ANST withdrew as the transfer agent effective February 29, 2016. The Company’s current provider of sub-transfer agency services will provide the Company with transfer agency services (including broker and stockholder servicing, transaction processing, year-end IRS reporting and other services) until the Company enters into a definitive transfer agency agreement with a transfer agent.

Real Estate and Accumulated Dep

Real Estate and Accumulated Depreciation - Schedule III	12 Months Ended
	Dec. 31, 2015
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, 2015 Land Building and Improvements Building and Gross Amount at December 31,2015 (1)(2) Accumulated Depreciation (3)(4) DaVita Bay Breeze - Largo FL 3/6/2015 $ — $ 409 $ 1,103 $ — $ 1,512 $ 29 RAI Clearwater - Clearwater FL 4/20/2015 — 615 3,743 — 4,358 66 DaVita Hudson - Hudson FL 5/4/2015 — 226 2,304 — 2,530 41 Rockwall Medical Plaza - Rockwall TX 6/11/2015 — 1,246 4,952 — 6,198 78 Decatur Medical Office Building - Decatur GA 7/24/2015 — 711 3,485 — 4,196 42 Buckeye Health Center - Cleveland OH 8/3/2015 — 410 5,278 — 5,688 58 Philip Professional Center - Lawrenceville GA 8/14/2015 5,093 808 6,689 — 7,497 76 Cedarhurst of Collinsville - Collinsville IL 8/21/2015 — 665 9,969 — 10,634 106 Illinois CancerCare - Galesburg IL 8/25/2015 — 363 2,259 — 2,622 23 Galesburg VA Outpatient Clinic - Galesburg IL 8/25/2015 — 464 1,483 — 1,947 17 Arcadian Cove Assisted Living - Richmond KY 8/25/2015 — 276 4,438 — 4,714 54 Woodlake Office Center - Woodbury MN 9/11/2015 — 999 11,371 — 12,370 102 Greenfield Medical Plaza - Gilbert AZ 10/8/2015 — 1,439 4,671 — 6,110 33 Lee Memorial Health System Outpatient Center - Ft. Meyers FL 10/22/2015 — 432 4,436 — 4,868 20 Beaumont Medical Center - Warren MI 12/4/2015 — 399 11,672 — 12,071 26 Madison Medical Plaza - Joliet IL 12/4/2015 — — 15,684 — 15,684 34 UnityPoint Clinic - Muscatine IA 12/23/2015 — 483 4,590 — 5,073 — UnityPoint Clinic - Moline IL 12/23/2015 — 280 3,002 — 3,282 — $ 5,093 $ 10,225 $ 101,129 $ — $ 111,354 $ 805 ___________________________________ (1) Acquired intangible lease assets allocated to individual properties in the amount of $18.5 million are not reflected in the table above. (2) The tax basis of aggregate land, buildings and improvements as of December 31, 2015 is $131.5 million . (3) The accumulated depreciation column excludes $1.0 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. The Company did not own any properties and had not commenced real estate operations as of December 31, 2014 . A summary of activity for real estate and accumulated depreciation for the year ended December 31, 2015 : (In thousands) December 31, 2015 Real estate investments, at cost: Balance at beginning of year $ — Additions-Acquisitions 111,354 Disposals — Balance at end of the year $ 111,354 Accumulated depreciation and amortization: Balance at beginning of year $ — Depreciation expense 805 Disposals — Balance at end of the year $ 805 See accompanying report of independent registered public accounting firm.

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of Accounting	Basis of Accounting The accompanying financial statements of the Company are prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“GAAP”).
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 were 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.
Use of Estimates	Use of Estimates The preparation of 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 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, and fair value measurements, as applicable.
Real Estate Investments	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. Real Estate Investments Investments in real estate are recorded at cost. Improvements and replacements are capitalized when they extend the useful life 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.
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 or accreted as an increase or reduction to interest expense over the remaining term of the respective mortgages, as applicable. 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 When 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	Cash 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.
Restricted Cash	Restricted Cash Restricted cash generally consists of reserves related to real estate taxes, maintenance, structural improvements, and debt service.
Deferred Costs, Net	Deferred Costs, Net Deferred costs, net, consist 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, 2015 , the Company had $0.1 million of deferred financing costs, net of accumulated amortization of $11,000 . The Company had no deferred financing costs as of December 31, 2014 . 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.
Revenue Recognition	Revenue Recognition The Company's rental income is primarily related to rent received from tenants in the Company's MOBs and triple-net leased healthcare facility. Rent from tenants in the Company's MOB and triple-net leased healthcare facility 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 property ("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 (other than selling commissions and the dealer manager fee) of the Company may be paid by the Advisor, the Former Dealer Manager or their affiliates on behalf of the Company. Offering and related costs include, but are not limited to, (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 is 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 is 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 are only a liability of the Company to the extent aggregate selling commissions, the dealer manager fees and other organization and offering costs do not exceed 12.0% of the gross proceeds determined at the end of the IPO (See Note 7 — Related Party Transactions and Arrangements ).
Share-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 9 — Equity-Based Compensation ).
Income Taxes	Income Taxes For the period from April 24, 2014 (date of inception) to December 31, 2014, the Company was being taxed as a C corporation because it did not meet the requirements to be taxed as a REIT. The Company intends to make an election to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the "Code") commencing with the taxable year ended December 31, 2015. In order to qualify and continue to qualify as a REIT, the Company must meet 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 the year ended December 31, 2015. 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 qualifies 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. REIT status imposes limitations related to seniors housing communities. Generally, to qualify as a REIT, the Company cannot directly operate seniors housing communities. However, such facilities may generally be operated by a taxable REIT subsidiary ("TRS") pursuant to a lease with the Company. Therefore, the Company has formed a TRS entity under the OP to operate its SHOP pursuant to a contract with an unaffiliated management company.
Per Share Data	Per Share Data Net income (loss) per basic share of common stock is calculated by dividing net income (loss) attributable to stockholders 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 SHOPs. Management evaluates the operating performance of the Company's investments in real estate and SHOPs 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 has not yet selected a transition method and is currently evaluating the impact of this new guidance. 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 is permitted provided that the guidance is 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 to 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 variable interest entities ("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 assessed the impact from the adoption of this revised guidance and has determined that there will be no material impact to its financial position, results of operations and cash flows. 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 will result in the reclassification of $0.1 million of deferred issuance costs related to the Company's mortgage note payable from deferred costs, net to mortgage note payable in the Company's consolidated balance sheet 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 is currently evaluating the impact of this new guidance.

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Schedule of Acquired Finite-Lived Intangible Assets and Liabilities by Major Class	Acquired intangible assets and liabilities consisted of the following as of the period presented. There were no acquired intangible assets as of December 31, 2014 . December 31, 2015 (In thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets: In-place leases $ 16,023 $ 931 $ 15,092 Intangible market lease assets 2,427 81 2,346 Total acquired intangible assets $ 18,450 $ 1,012 $ 17,438 Intangible market lease liabilities $ 1,902 $ 53 $ 1,849
Summary of Finite-Lived Intangible Assets and Liabilities Amortization Expense	The following table provides the projected amortization expense and adjustments to revenues for the next five years: (In thousands) 2016 2017 2018 2019 2020 In-place lease assets $ 3,127 $ 2,362 $ 2,197 $ 2,022 $ 1,794 Total to be added to amortization expense $ 3,127 $ 2,362 $ 2,197 $ 2,022 $ 1,794 Above-market lease assets $ 353 $ 351 $ 318 $ 309 $ 301 Below-market lease liabilities (132 ) (132 ) (132 ) (131 ) (127 ) Total to be deducted from rental income $ 221 $ 219 $ 186 $ 178 $ 174 Above-market ground lease liabilities $ 16 $ 16 $ 16 $ 16 $ 16 Total to be deducted from property operating and maintenance expense $ 16 $ 16 $ 16 $ 16 $ 16
Schedule of Components of Income Tax Expense (Benefit)	The following table details the composition of the Company's tax expense for the year ended December 31, 2015 , which includes federal and state income taxes incurred by the Company's TRS entity. No tax expense was recorded for the period from April 24, 2014 (date of inception) to December 31, 2014 . The Company estimated its income tax expense relating to its TRS entity using a combined federal and state rate of approximately 41.2% for the year ended December 31, 2015 . These income taxes are reflected in income tax expense on the accompanying consolidated statements of operations and comprehensive loss. Year Ended December 31, 2015 (In thousands) Current Deferred Federal expense (benefit) $ 79 $ (16 ) State expense (benefit) 26 (5 ) $ 105 $ (21 )

Real Estate Investments (Tables

Real Estate Investments (Tables)	12 Months Ended
	Dec. 31, 2015
Real Estate Investments, Net [Abstract]
Schedule of Business Acquisitions, by Acquisition	The following table presents the allocation of the assets acquired and liabilities assumed during the year ended December 31, 2015 . There were no assets acquired or liabilities assumed during the period from April 24, 2014 (date of inception) to December 31, 2014 . Year Ended (Dollar amounts in thousands) December 31, 2015 Real estate investments, at cost: Land $ 10,225 Buildings, fixtures and improvements 101,129 Total tangible assets 111,354 Acquired intangibles: In-place leases (1) 16,023 Market lease assets (1) 2,427 Market lease liabilities (1) (1,902 ) Total assets acquired, net 127,902 Mortgage note payable assumed to acquire real estate investment (5,124 ) Premium on mortgage assumed (172 ) Other liabilities assumed (126 ) Cash paid for acquired real estate investments $ 122,480 Number of properties purchased 19 _______________ (1) Weighted-average remaining amortization periods for in-place leases, market lease assets and market lease liabilities acquired during the year ended December 31, 2015 were 6.9 , 8.8 and 16.1 years, respectively, as of each property's respective acquisition date.
Business Acquisition, Pro Forma Information	The following table presents unaudited pro forma information as if the acquisitions that were completed during the year ended December 31, 2015 had been consummated on April 24, 2014 (date of inception). Additionally, the unaudited pro forma net income (loss) was adjusted to reclassify acquisition and transaction related expenses of $4.7 million from the year ended December 31, 2015 to the period from April 24, 2014 (date of inception) to December 31, 2014 . Year Ended For the Period from April 24, 2014 (In thousands, except for share and per share information) December 31, 2015 December 31, 2014 Pro forma revenues (1) $ 14,089 $ 9,727 Pro forma net income (loss) (1) $ 1,981 $ (2,621 ) Basic weighted average shares outstanding 3,344,191 7,937 Basic pro forma net income (loss) per share $ 0.59 $ (330.23 ) Diluted weighted average shares outstanding 3,347,916 7,937 Diluted pro forma net income (loss) per share $ 0.57 $ (330.23 ) _______________ (1) For the year ended December 31, 2015 , aggregate revenues and net income derived from the Company's 2015 acquisitions (for the Company's period of ownership) were $4.1 million and $1.0 million , respectively.
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, 2015 . These amounts exclude contingent rent payments, as applicable, that may be collected from certain tenants based on provisions related to sales thresholds and increases in annual rent based on exceeding certain economic indexes, among other items. (In thousands) Future Minimum Base Rent Payments 2016 $ 8,760 2017 8,743 2018 8,535 2019 8,207 2020 7,762 Thereafter 25,166 $ 67,173
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas	The following table lists the states where the Company has a concentration 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 as of December 31, 2015 . The Company did not own any properties and had no state concentrations as of December 31, 2014 . State December 31, 2015 Georgia 11.9% Illinois 41.9% Michigan 9.8%

Mortgage Note Payable (Tables)

Mortgage Note Payable (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The following table reflects the Company's mortgage note payable as of December 31, 2015 . The Company had no mortgage notes payable as of December 31, 2014 . Encumbered Properties Outstanding Loan Amount as of Effective Interest Rate Interest Rate Portfolio December 31, 2015 Maturity (In thousands) Philip Professional Center — Lawrenceville, GA 2 $ 5,093 4.0 % Fixed Oct. 2019
Schedule of Maturities of Long-term Debt	The following table summarizes the scheduled aggregate principal payments on the Company's mortgage note payable for the five years subsequent to December 31, 2015 : (In thousands) Future Principal Payments 2016 $ 96 2017 100 2018 104 2019 4,793 2020 — Thereafter — $ 5,093

Fair Value of Financial Instr27

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping	The fair value of the Company's remaining financial instrument that is not reported at fair value on the consolidated balance sheet is reported below: Carrying Amount (1) at Fair Value at Carrying Amount at Fair Value at (In thousands) Level December 31, 2015 December 31, 2015 December 31, 2014 December 31, 2014 Mortgage note payable and premium, net 3 $ 5,248 $ 5,181 $ — $ — _______________ (1) Carrying value includes mortgage note payable of $5.1 million and mortgage premium, net of $0.2 million as of December 31, 2015 .

Common Stock (Tables)

Common Stock (Tables)	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Class of Treasury Stock	The following table reflects the number of shares repurchased cumulatively through December 31, 2015 : Number of Shares Repurchased Average Price per Share Cumulative repurchases as of December 31, 2014 — $ — Year ended December 31, 2015 (1) 1,021 24.97 Cumulative repurchases as of December 31, 2015 (1) 1,021 $ 24.97 _______________ (1) Excludes rejected repurchases of 1,336 shares for approximately $33,000 at an average price per share of $24.95 , which were unfulfilled as of December 31, 2015 . There were no other unfulfilled share repurchases for the period from April 24, 2014 (date of inception) to December 31, 2015 .

Related Party Transactions an29

Related Party Transactions and Arrangements (Tables)	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Schedule of Selling Commissions and Dealer Manager Fees Payable to Affiliate	The following table details total selling commissions and dealer manager fees incurred from and due to the Former Dealer Manager as of and for the periods presented: Year Ended For the Period from April 24, 2014 Payable as of December 31, (In thousands) December 31, 2015 December 31, 2015 2014 Total commissions and fees incurred from and due to the Former Dealer Manager $ 14,368 $ — $ — $ —
Schedule Of Offering Costs Reimbursements to Related Party	The following table details fees and reimbursable offering costs incurred and payable as of and for the periods presented: Year Ended For the Period from April 24, 2014 Payable as of December 31, (In thousands) December 31, 2015 December 31, 2015 2014 Fees and expense reimbursements incurred from and due to the Advisor and its affiliates $ 1,953 $ 66 $ 12 $ 66 Fees and expense reimbursements incurred from and due to the Former Dealer Manager and its affiliates 1,487 619 228 619 Fees and expense reimbursements incurred from and due to the Sponsor 7 — — — Total fees and expense reimbursements incurred from and due to the Advisor, Sponsor and Former Dealer Manager and their affiliates $ 3,447 $ 685 $ 240 $ 685
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 For the Period from April 24, 2014 December 31, 2015 December 31, 2014 Payable as of December 31, (In thousands) Incurred Forgiven Incurred Forgiven 2015 2014 One-time fees and reimbursements: Acquisition fees $ 1,910 $ — $ — $ — $ — $ — Acquisition cost reimbursements 637 — — — — — Financing coordination fees 38 — — — — — Ongoing fees and reimbursements: Property management fees 46 3 — — 4 — Professional fees and reimbursements 343 — — — 43 — Distributions on Class B units 2 — — — 1 — Total related party operating fees and reimbursements $ 2,976 $ 3 $ — $ — $ 48 $ —

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award	The following table reflects restricted share award activity for the period presented: Number of Common Shares Weighted-Average Issue Price Unvested December 31, 2014 2,666 $ 22.50 Granted 2,666 22.50 Vested (533 ) 22.50 Forfeitures — — Unvested, December 31, 2015 4,799 $ 22.50

Non-Controlling Interests (Tabl

Non-Controlling Interests (Tables)	12 Months Ended
	Dec. 31, 2015
Noncontrolling Interest [Abstract]
Noncontrolling Interest	The following table summarizes the activity related to investment arrangements with the unaffiliated third party. As of December 31, 2014 , the Company did not own any real estate investments and therefore had no investment arrangements with unaffiliated third parties. As of December 31, 2015 Property Name (Dollar amounts in thousands) Investment Date Third Party Net Investment Amount as of December 31, 2015 Non-Controlling Ownership Percentage as of December 31, 2015 Net Real Estate Assets Subject to Investment Arrangement Mortgage Notes Payable Subject to Investment Arrangement Distributions for the Year Ended December 31, 2015 UnityPoint Clinic - Muscatine, IA Dec. 2015 $ 294 5 % $ 6,024 $ — $ — UnityPoint Clinic - Moline, IL Dec. 2015 189 5 % 3,846 — —

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2015
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 ended December 31, 2015 and for the period from April 24, 2014 (date of inception) to December 31, 2014 : Year Ended For the Period from April 24, 2014 (In thousands) December 31, 2015 December 31, 2014 Net loss attributable to stockholders $ (5,218 ) $ (180 ) Basic and diluted weighted average shares outstanding 3,344,191 7,937 Basic and diluted net loss per share $ (1.56 ) $ (22.68 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The Company had the following potentially dilutive securities as of December 31, 2015 and 2014 , which were excluded from the calculation of diluted loss per share attributable to stockholders as their effect would have been antidilutive: December 31, 2015 2014 Unvested restricted shares 4,799 2,666 OP Units 90 90 Class B Units 7,254 — Total potentially dilutive securities 12,143 2,756

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables reconcile the segment activity to consolidated net loss for the year ended December 31, 2015 . Year Ended December 31, 2015 (In thousands) Medical Office Buildings Triple-Net Leased Healthcare Facilities Seniors Housing — Operating Properties Consolidated Revenues: Rental income $ 2,393 $ 147 $ — $ 2,540 Operating expense reimbursements 573 — — 573 Resident services and fee income — — 1,030 1,030 Total revenues 2,966 147 1,030 4,143 Property operating and maintenance 717 1 652 1,370 Net operating income $ 2,249 $ 146 $ 378 2,773 Operating fees to related party (46 ) Acquisition and transaction related (4,747 ) General and administrative (1,315 ) Depreciation and amortization (1,737 ) Interest expense (73 ) Income tax expense (84 ) Net loss attributable to non-controlling interests 11 Net loss attributable to stockholders $ (5,218 ) The following table reconciles the segment activity to consolidated total assets as of the periods presented: December 31, (In thousands) 2015 2014 ASSETS Investments in real estate, net: Medical office buildings $ 112,093 $ — Triple-net leased healthcare facilities 4,720 — Seniors housing — operating properties 11,173 — Total investments in real estate, net 127,986 — Cash 16,808 187 Restricted cash 62 — Straight-line rent receivable 153 — Prepaid expenses and other assets 714 59 Deferred costs, net 129 — Total assets $ 145,852 $ 246

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Operating Leases Disclosure	The following table reflects the minimum base cash rental payments due from the Company over the next five years and thereafter under these arrangements. 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. (In thousands) Future Minimum Base Rental Payments 2016 $ 104 2017 104 2018 105 2019 106 2020 109 Thereafter 3,440 $ 3,968

Quarterly Results (Unaudited) (

Quarterly Results (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Presented below is a summary of the unaudited quarterly financial information for the year ended December 31, 2015 and the period from April 24, 2014 (date of inception) to December 31, 2014 . Three Months Ended (In thousands, except for share and per share data) March 31, June 30, September 30, December 31, Total revenues $ 11 $ 192 $ 1,184 $ 2,756 Net loss attributable to stockholders $ (319 ) $ (601 ) $ (1,561 ) $ (2,737 ) Basic and diluted weighted average shares outstanding 164,258 2,047,581 4,614,402 6,467,301 Basic and diluted loss per share $ (1.94 ) $ (0.29 ) $ (0.34 ) $ (0.42 ) Period from April 24, 2014 (date of inception) to Three Months Ended (In thousands, except for share and per share data) June 30, 2014 September 30, 2014 December 31, 2014 Total revenues $ — $ — $ — Net loss $ (16 ) $ (28 ) $ (136 ) Basic and diluted weighted average shares outstanding 5,359 8,888 8,888 Basic and diluted loss per share $ (2.99 ) $ (3.15 ) $ (15.30 )

Organization (Details)

Organization (Details)	Feb. 11, 2015USD ($)	Dec. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2015USD ($)ft²propertystate$ / sharesshares	Dec. 31, 2015USD ($)ft²state$ / sharesshares	Jan. 25, 2016shares	Aug. 20, 2014USD ($)$ / sharesshares
Class of Stock [Line Items]
Common stock, authorized (in shares)		300,000,000	300,000,000	300,000,000
Common stock, par value (in usd per share) | $ / shares		$ 0.01	$ 0.01	$ 0.01		$ 0.01
Minimum subscriptions required to break escrow | $	$ 2,000,000
Common stock, shares outstanding (in shares)		11,554	6,792,797	6,792,797
Proceeds from issuance of common stock | $		$ 202,000	$ 164,853,000	$ 167,200,000
Trading days for determining net asset value price			150 days
Number of properties acquired | property			19
Number of states in which entity operates | state			10	10
Area of real estate property | ft²			467,932	467,932
Common Stock
Class of Stock [Line Items]
Share Price (in usd per share) | $ / shares						$ 25
Shares available for issuance under a distribution reinvestment plan (in shares)						26,300,000
Common stock, shares outstanding (in shares)		11,554	6,792,797	6,792,797
Minimum | Common Stock
Class of Stock [Line Items]
Share Price, DRIP (in usd per share) | $ / shares			$ 23.75	$ 23.75
Share Price, DRIP, percentage of estimated value of common stock			95.00%	95.00%
IPO
Class of Stock [Line Items]
Common stock, authorized (in shares)						125,000,000
Stock available for issuance in public offering | $						$ 3,125,000,000
Subsequent Event | Common Stock
Class of Stock [Line Items]
Shares available for issuance under a distribution reinvestment plan (in shares)					700,000

Summary of Significant Accoun37

Summary of Significant Accounting Policies (Schedule of Acquired Intangible Assets and Liabilities) (Details) - 2015 acquisitions $ in Thousands	Dec. 31, 2015USD ($)
Intangible assets:
Gross Carrying Amount	$ 18,450
Accumulated Amortization	1,012
Net Carrying Amount	17,438
Intangible market lease liabilities
Gross Carrying Amount	1,902
Accumulated Amortization	53
Net Carrying Amount	1,849
In-place leases
Intangible assets:
Gross Carrying Amount	16,023
Accumulated Amortization	931
Net Carrying Amount	15,092
Intangible market lease assets
Intangible assets:
Gross Carrying Amount	2,427
Accumulated Amortization	81
Net Carrying Amount	$ 2,346

Summary of Significant Accoun38

Summary of Significant Accounting Policies (Narrative) (Details)	12 Months Ended
	Dec. 31, 2015USD ($)propertysegment$ / shares	Dec. 31, 2014USD ($)	Apr. 23, 2014USD ($)
Schedule of Shares Repurchased [Line Items]
Cash	$ 16,808,000	$ 187,000	$ 0
Cash in excess of FDIC limit	15,600,000	0
Net deferred financing costs	100,000	0
Accumulated amortization, deferred financing costs	$ 11,000
Income tax rate	41.20%
Number of SHOPs | property	1
Deferred tax asset, net	$ 21,000	$ 0
Deferred tax asset, valuation allowance	$ 0
Distribution percentage, return of capital	93.40%
Distribution per share, return of capital (in usd per share) | $ / shares	$ 1.04
Return of capital percentage ordinary dividends	6.60%
Return of capital ordinary dividends per share (in usd per share) | $ / shares	$ 0.07
Number of reportable segments | segment	3
Maximum
Schedule of Shares Repurchased [Line Items]
Liability for offering and related costs from IPO	2.00%
Offering costs, as a percentage of gross common stock proceeds	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
Furniture and Fixtures
Schedule of Shares Repurchased [Line Items]
Useful life	5 years
Depreciation and amortization expense | In-place leases and other intangible assets
Schedule of Shares Repurchased [Line Items]
Amortization	$ 900,000
Rental income | Intangible market lease assets and liabilities
Schedule of Shares Repurchased [Line Items]
Amortization	35,000
Property operating and maintenance expense | In-place leases and other intangible assets
Schedule of Shares Repurchased [Line Items]
Amortization	6,000
New Accounting Pronouncement, Early Adoption, Effect | Deferred Costs, Net
Schedule of Shares Repurchased [Line Items]
Net deferred financing costs	(100,000)
New Accounting Pronouncement, Early Adoption, Effect | Mortgage Note Payable
Schedule of Shares Repurchased [Line Items]
Net deferred financing costs	$ 100,000

Summary of Significant Accoun39

Summary of Significant Accounting Policies (Summary of Intangible Assets and Liabilities Future Amortization Expense) (Details) $ in Thousands	Dec. 31, 2015USD ($)
Amortization expense
Finite-Lived Intangible Assets [Line Items]
Finite Lived Lease Amortization Expense (Income) 2016	$ 3,127
Finite Lived Lease Amortization Expense (Income) 2017	2,362
Finite Lived Lease Amortization Expense (Income) 2018	2,197
Finite Lived Lease Amortization Expense (Income) 2019	2,022
Finite Lived Lease Amortization Expense (Income) 2020	1,794
Rental income
Finite-Lived Intangible Assets [Line Items]
Total Amortization (Expense) for 2016	221
Total Amortization (Expense) for 2017	219
Total Amortization (Expense) for 2018	186
Total Amortization (Expense) for 2019	178
Total Amortization (Expense) for 2020	174
Property operating and maintenance expense
Finite-Lived Intangible Assets [Line Items]
Total Amortization (Expense) for 2016	16
Total Amortization (Expense) for 2017	16
Total Amortization (Expense) for 2018	16
Total Amortization (Expense) for 2019	16
Total Amortization (Expense) for 2020	16
In-place leases | Amortization expense
Finite-Lived Intangible Assets [Line Items]
Finite Lived Lease Amortization Expense (Income) 2016	3,127
Finite Lived Lease Amortization Expense (Income) 2017	2,362
Finite Lived Lease Amortization Expense (Income) 2018	2,197
Finite Lived Lease Amortization Expense (Income) 2019	2,022
Finite Lived Lease Amortization Expense (Income) 2020	1,794
Above-market lease assets | Rental income
Finite-Lived Intangible Assets [Line Items]
Finite Lived Lease Amortization Expense (Income) 2016	353
Finite Lived Lease Amortization Expense (Income) 2017	351
Finite Lived Lease Amortization Expense (Income) 2018	318
Finite Lived Lease Amortization Expense (Income) 2019	309
Finite Lived Lease Amortization Expense (Income) 2020	301
Below-market lease liabilities | Rental income
Finite-Lived Intangible Assets [Line Items]
Below Market Lease Income (Expense) Amortization 2016	(132)
Below Market Lease Income (Expense) Amortization 2017	(132)
Below Market Lease Income (Expense) Amortization 2018	(132)
Below Market Lease Income (Expense) Amortization 2019	(131)
Below Market Lease Income (Expense) Amortization 2020	(127)
Above-market ground lease liabilities | Property operating and maintenance expense
Finite-Lived Intangible Assets [Line Items]
Finite Lived Lease Amortization Expense (Income) 2016	16
Finite Lived Lease Amortization Expense (Income) 2017	16
Finite Lived Lease Amortization Expense (Income) 2018	16
Finite Lived Lease Amortization Expense (Income) 2019	16
Finite Lived Lease Amortization Expense (Income) 2020	$ 16

Summary of Significant Accoun40

Summary of Significant Accounting Policies (Components of Income Tax Expense) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Current
Federal expense (benefit)	$ 79
State expense (benefit)	26
Current Federal, State and Local, Tax Expense (Benefit)	105
Deferred
Federal expense (benefit)	(16)
State expense (benefit)	(5)
Deferred Federal, State and Local, Tax Expense (Benefit)	$ (21)

Real Estate Investments (Narrat

Real Estate Investments (Narrative) (Details) $ in Thousands	Dec. 04, 2015USD ($)	Oct. 22, 2015USD ($)	Oct. 08, 2015USD ($)	Sep. 11, 2015USD ($)	Aug. 25, 2015USD ($)	Aug. 21, 2015USD ($)	Aug. 14, 2015USD ($)	Aug. 03, 2015USD ($)	Jul. 24, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2015USD ($)property
Business Acquisition [Line Items]
Number of properties purchased | property											19
Acquisition and transaction related										$ 0	$ 4,747
Decatur Medical Office Building
Business Acquisition [Line Items]
Contract purchase price									$ 5,100
Acquisition and transaction related									$ 100
Buckeye Health Center
Business Acquisition [Line Items]
Contract purchase price								$ 5,600
Acquisition and transaction related								$ 100
Philip Professional Center
Business Acquisition [Line Items]
Contract purchase price							$ 9,000
Payments to acquire businesses							3,900
Mortgage debt assumed							5,100
Acquisition and transaction related							$ 200
Cedarhurst of Collinsville
Business Acquisition [Line Items]
Contract purchase price						$ 11,600
Acquisition and transaction related						$ 400
Arcadian Cove Assisted Living
Business Acquisition [Line Items]
Contract purchase price					$ 4,800
Acquisition and transaction related					$ 200
Woodlake Office Center
Business Acquisition [Line Items]
Contract purchase price				$ 14,900
Acquisition and transaction related				$ 300
Greenfield Medical Plaza
Business Acquisition [Line Items]
Contract purchase price			$ 7,000
Acquisition and transaction related			$ 200
Lee Memorial Health System Outpatient Center
Business Acquisition [Line Items]
Contract purchase price		$ 5,300
Acquisition and transaction related		$ 100
Beaumont Medical Center
Business Acquisition [Line Items]
Contract purchase price	$ 13,700
Acquisition and transaction related	300
Madison Medical Plaza
Business Acquisition [Line Items]
Contract purchase price	19,500
Acquisition and transaction related	$ 1,900

Real Estate Investments (Acquir

Real Estate Investments (Acquired Assets) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)property
Real estate investments
Land	$ 10,225
Buildings, fixtures and improvements	101,129
Total tangible assets	111,354
Total assets acquired, net	127,902
Mortgage note payable assumed to acquire real estate investment	(5,124)
Premium on mortgage assumed	(172)
Other liabilities assumed	(126)
Cash paid for acquired real estate investments	$ 122,480
Number of properties purchased | property	19
In-place leases
Real estate investments
Acquired intangibles:	$ 16,023
Amortization period	6 years 10 months 21 days
Above-market lease assets
Real estate investments
Acquired intangibles:	$ 2,427
Amortization period	8 years 10 months 2 days
Market lease liabilities
Real estate investments
Market lease liabilities	$ (1,902)
Amortization period	16 years 22 days

Real Estate Investments (Pro Fo

Real Estate Investments (Pro Forma Information) (Details) - USD ($) $ / shares in Units, $ in Thousands	2 Months Ended	3 Months Ended						8 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2015
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma revenues								$ 9,727	$ 14,089
Pro forma net income (loss)								$ (2,621)	$ 1,981
Basic weighted average shares outstanding (in shares)								7,937	3,344,191
Basic pro forma net income (loss) per share (in usd per share)								$ (330.23)	$ 0.59
Diluted weighted average shares outstanding (in shares)								7,937	3,347,916
Diluted pro forma net income (loss) per share (in usd per share)								$ (330.23)	$ 0.57
Total revenues	$ 0	$ 2,756	$ 1,184	$ 192	$ 11	$ 0	$ 0	$ 0	$ 4,143
Net income	$ (16)	$ (2,737)	$ (1,561)	$ (601)	$ (319)	$ (136)	$ (28)	$ (180)	(5,218)
2015 Acquisitions
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Total revenues									4,100
Net income									$ 1,000

Real Estate Investments (Future

Real Estate Investments (Future Minimum Payments) (Details) $ in Thousands	Dec. 31, 2015USD ($)
Real Estate Investments, Net [Abstract]
2,016	$ 8,760
2,017	8,743
2,018	8,535
2,019	8,207
2,020	7,762
Thereafter	25,166
Total	$ 67,173

Real Estate Investments (Geogra

Real Estate Investments (Geographic Concentrations) (Details) - Geographic Concentration Risk - Sales Revenue, Net	12 Months Ended
	Dec. 31, 2015
Georgia
Concentration Risk [Line Items]
Concentration risk, percentage	11.90%
Illinois
Concentration Risk [Line Items]
Concentration risk, percentage	41.90%
Michigan
Concentration Risk [Line Items]
Concentration risk, percentage	9.80%

Mortgage Note Payable (Mortgage

Mortgage Note Payable (Mortgage Note) (Details) $ in Thousands	Dec. 31, 2015USD ($)property	Dec. 31, 2014USD ($)
Debt Instrument [Line Items]
Mortgage note payable	$ 5,093	$ 0
Real estate investments relating to notes payable	9,200
Mortgages
Debt Instrument [Line Items]
Mortgage note payable	$ 5,093
Philip Professional Center - Lawrenceville, GA | Mortgages
Debt Instrument [Line Items]
Encumbered Properties | property	2
Mortgage note payable	$ 5,093
Effective Interest Rate	4.00%

Mortgage Note Payable (Mortga47

Mortgage Note Payable (Mortgage Principal Payments) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Secured Debt	$ 5,093	$ 0
Mortgages
Debt Instrument [Line Items]
2,016	96
2,017	100
2,018	104
2,019	4,793
2,020	0
Thereafter	0
Secured Debt	$ 5,093

Fair Value of Financial Instr48

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage notes payable	$ 5,093	$ 0
Mortgage premium, net	155	0
Mortgages
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage notes payable	5,093
Significant Unobservable Inputs Level 3 | Mortgages | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value	5,248	0
Significant Unobservable Inputs Level 3 | Mortgages | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, fair value	$ 5,181	$ 0

Common Stock (Narrative) (Detai

Common Stock (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 29, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2015	Jan. 25, 2016
Class of Stock [Line Items]
Common stock, shares outstanding (in shares)		11,554	6,792,797	6,792,797
Proceeds from issuance of common stock		$ 202	$ 164,853	$ 167,200
Dividends declared per day (in usd per share)	$ 0.0042808219
Distributions declared per share (in usd per share)	$ 1.56		$ 1.56
Short term trading fee			2.00%
Common stock issued through distribution reinvestment plan		$ 0	$ 2,171
Common Stock
Class of Stock [Line Items]
Common stock, shares outstanding (in shares)		11,554	6,792,797	6,792,797
Common stock issued through distribution reinvestment plan (in shares)			91,414
One Year
Class of Stock [Line Items]
Repurchase price as a percent of share price			92.50%	92.50%
Two Years
Class of Stock [Line Items]
Repurchase price as a percent of share price			95.00%	95.00%
Three Years
Class of Stock [Line Items]
Repurchase price as a percent of share price			97.50%	97.50%
Four Years
Class of Stock [Line Items]
Repurchase price as a percent of share price			100.00%	100.00%
Maximum | One Year
Class of Stock [Line Items]
Share repurchase price (in usd per share)			$ 23.13	$ 23.13
Repurchase price as a percent of share price			92.50%	92.50%
Maximum | Two Years
Class of Stock [Line Items]
Share repurchase price (in usd per share)			$ 23.75	$ 23.75
Repurchase price as a percent of share price			95.00%	95.00%
Subsequent Event
Class of Stock [Line Items]
Authorized percent of shares outstanding for repurchase for fiscal semester					2.50%
Authorized percent of shares outstanding for repurchase for fiscal year					5.00%

Common Stock (Cumulative Share

Common Stock (Cumulative Share Repurchases) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended	27 Months Ended	39 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015
Equity [Abstract]
Number of shares repurchased (in shares)	1,021	0	1,021
Average price per share (in usd per share)	$ 24.97	$ 0	$ 24.97
Remaining number of shares authorized to be repurchased (in shares)	1,336		1,336
Common stock repurchases, unfulfilled repurchases	$ 33
Unfilled requests, average cost per share (in usd per share)	$ 24.95

Related Party Transactions an51

Related Party Transactions and Arrangements (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Common stock, shares outstanding (in shares)	6,792,797	11,554
Due to affiliate	$ 283	$ 1,895
American Realty Capital Healthcare III Special Limited Partnership, LLC | Special Limited Partner
Related Party Transaction [Line Items]
Common stock, shares outstanding (in shares)	8,888	8,888

Related Party Transactions an52

Related Party Transactions and Arrangements (Fees Paid in Connection with the IPO) (Details) $ in Millions	Dec. 31, 2015USD ($)
Related Party Transaction [Line Items]
Cumulative offering costs	$ 21.4
Former Dealer Manager
Related Party Transaction [Line Items]
Aggregate costs borne by related party	$ 3.7
Maximum
Related Party Transaction [Line Items]
Liability for offering and related costs from IPO	2.00%
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]
Fee earned by related party, percentage of benchmark	3.00%
Option Two | Realty Capital Securities, LLC | Gross Proceeds, Common Stock | Former Dealer Manager
Related Party Transaction [Line Items]
Fee earned by related party, percentage of benchmark	2.50%
Transaction Fee Upon Consummation of the Sale | Option Two | Gross Proceeds, Common Stock | Maximum | Participating Broker-Dealer
Related Party Transaction [Line Items]
Brokerage fee as a percentage of benchmark	2.50%
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%
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%
Cumulative Offering Costs | Former Dealer Manager
Related Party Transaction [Line Items]
Maximum cumulative offering costs for IPO	15.00%

Related Party Transactions an53

Related Party Transactions and Arrangements (Fees Paid in Connection with the IPO, Selling Commissions and Dealer Manager Fees) (Details) - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2015
Related Party Transaction [Line Items]
Due to affiliate	$ 1,895	$ 283
Realty Capital Securities, LLC | Total commissions and fees incurred from and due to the Dealer Manager | Former Dealer Manager
Related Party Transaction [Line Items]
Total commissions and fees incurred from the Dealer Manager	0	14,368
Due to affiliate	$ 0	$ 0

Related Party Transactions an54

Related Party Transactions and Arrangements (Fees Paid in Connection with the IPO, Offering Costs and Reimbursements) (Details) - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2015
Related Party Transaction [Line Items]
Due to affiliate	$ 1,895	$ 283
Fees and Expense Reimbursement, Stock Offering | Advisor and its affiliates, Sponsor and Former Dealer Manager [Member]
Related Party Transaction [Line Items]
One-time fees and reimbursements:	685	3,447
Due to affiliate	685	240
Fees and Expense Reimbursement, Stock Offering | American Realty Capital Healthcare III Advisors, LLC | Advisor and its affiliates
Related Party Transaction [Line Items]
One-time fees and reimbursements:	66	1,953
Due to affiliate	66	12
Fees and Expense Reimbursement, Stock Offering | Realty Capital Securities, LLC | Former Dealer Manager and its affiliates
Related Party Transaction [Line Items]
One-time fees and reimbursements:	619	1,487
Due to affiliate	619	228
Fees and Expense Reimbursement, Stock Offering | Realty Capital Securities, LLC | Sponsor
Related Party Transaction [Line Items]
One-time fees and reimbursements:	0	7
Due to affiliate	$ 0	$ 0

Related Party Transactions an55

Related Party Transactions and Arrangements (Fees Paid in Connection With the Operations of the Company) (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares
Related Party Transaction [Line Items]
Share price, net (in dollars per share) | $ / shares	$ 22.50
Advisor
Related Party Transaction [Line Items]
Shares approved for issuance (in shares) | shares	7,254
American Realty Capital Healthcare III Advisors, LLC | Contract Purchase Price | Advisor
Related Party Transaction [Line Items]
Acquisition fees as a percentage of benchmark	1.50%
Reimbursed fees to related party, percentage of benchmark, expected third party acquisition costs	0.50%
Total one-time operating fees earned by related party, percentage of benchmark, fee cap	4.50%
Quarterly asset management fee earned	0.1875%
American Realty Capital Healthcare III Advisors, LLC | Advance on Loan or Other Investment | Advisor
Related Party Transaction [Line Items]
Acquisition fees as a percentage of benchmark	1.50%
Reimbursed fees to related party, percentage of benchmark, expected third party acquisition costs	0.50%
Total one-time operating fees earned by related party, percentage of benchmark, fee cap	4.50%
American Realty Capital Healthcare III Advisors, LLC | Contract Purchase Price, All Assets Acquired | Advisor
Related Party Transaction [Line Items]
Acquisition fees and financing coordination fees, fee cap earned by related party, percentage of benchmark	2.00%
American Realty Capital Healthcare III Advisors, LLC | Amount Available or Outstanding Under Financing Arrangement | Advisor
Related Party Transaction [Line Items]
Financing coordination fees	0.75%
American Realty Capital Healthcare III 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 III 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 III Advisors, LLC | Contract Purchase Price | Advisor
Related Party Transaction [Line Items]
Reimbursed legal fees to related party, percentage of benchmark	0.10%
Maximum | American Realty Capital Healthcare III Advisors, LLC | Advance on Loan or Other Investment | Advisor
Related Party Transaction [Line Items]
Reimbursed legal fees to related party, percentage of benchmark	0.10%
Maximum | American Realty Capital Healthcare III Advisors, LLC | Gross Revenue, Managed Properties | Advisor
Related Party Transaction [Line Items]
Oversight fees earned by related party	1.00%
Greater Of | Maximum | American Realty Capital Healthcare III Advisors, LLC | Average Invested Assets | Advisor
Related Party Transaction [Line Items]
Operating expenses as a percentage of benchmark	2.00%
Greater Of | Maximum | American Realty Capital Healthcare III 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%
Greater Of | Maximum | American Realty Capital Healthcare III Advisors, LLC | Average Invested Assets and Net Income Excluding Additions to Non-Cash Reserves and Gains on Sales | Advisor
Related Party Transaction [Line Items]
Operating expenses limitation | $	$ 0.6

Related Party Transactions an56

Related Party Transactions and Arrangements (Fees Paid in Connection With the Operations of the Company, Incurred, Forgiven and Payable) (Details) - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2015
Related Party Transaction [Line Items]
Due to affiliate	$ 1,895	$ 283
Incurred
Related Party Transaction [Line Items]
One-time fees and reimbursements:	0	2,976
Forgiven
Related Party Transaction [Line Items]
One-time fees and reimbursements:	0	3
Payable
Related Party Transaction [Line Items]
Due to affiliate	0	48
Nonrecurring Fees | Incurred | Acquisition fees
Related Party Transaction [Line Items]
One-time fees and reimbursements:	0	1,910
Nonrecurring Fees | Incurred | Acquisition cost reimbursements
Related Party Transaction [Line Items]
One-time fees and reimbursements:	0	637
Nonrecurring Fees | Incurred | Financing coordination fees
Related Party Transaction [Line Items]
One-time fees and reimbursements:	0	38
Nonrecurring Fees | Forgiven | Acquisition fees
Related Party Transaction [Line Items]
One-time fees and reimbursements:	0	0
Nonrecurring Fees | Forgiven | Acquisition cost reimbursements
Related Party Transaction [Line Items]
One-time fees and reimbursements:	0	0
Nonrecurring Fees | Forgiven | Financing coordination fees
Related Party Transaction [Line Items]
One-time fees and reimbursements:	0	0
Nonrecurring Fees | Payable | Acquisition fees
Related Party Transaction [Line Items]
Due to affiliate	0	0
Nonrecurring Fees | Payable | Acquisition cost reimbursements
Related Party Transaction [Line Items]
Due to affiliate	0	0
Nonrecurring Fees | Payable | Financing coordination fees
Related Party Transaction [Line Items]
Due to affiliate	0	0
Recurring Fees | Incurred | Property management fees
Related Party Transaction [Line Items]
One-time fees and reimbursements:	0	46
Recurring Fees | Incurred | Professional fees and reimbursements
Related Party Transaction [Line Items]
One-time fees and reimbursements:	0	343
Recurring Fees | Incurred | Distributions on Class B units
Related Party Transaction [Line Items]
One-time fees and reimbursements:	0	2
Recurring Fees | Forgiven | Property management fees
Related Party Transaction [Line Items]
One-time fees and reimbursements:	0	3
Recurring Fees | Forgiven | Professional fees and reimbursements
Related Party Transaction [Line Items]
One-time fees and reimbursements:	0	0
Recurring Fees | Forgiven | Distributions on Class B units
Related Party Transaction [Line Items]
One-time fees and reimbursements:	0	0
Recurring Fees | Payable | Property management fees
Related Party Transaction [Line Items]
Due to affiliate	0	4
Recurring Fees | Payable | Professional fees and reimbursements
Related Party Transaction [Line Items]
Due to affiliate	0	43
Recurring Fees | Payable | Distributions on Class B units
Related Party Transaction [Line Items]
Due to affiliate	$ 0	$ 1

Related Party Transactions an57

Related Party Transactions and Arrangements (Fees Paid in Connection with a Listing or the Liquidation of the Company's Real Estate Assets) (Details)	Dec. 31, 2015
American Realty Capital Healthcare III Advisors, LLC | Pre-tax Non-compounded Return on Capital Contribution | Advisor
Related Party Transaction [Line Items]
Subordinated performance fee as a percentage of benchmark	15.00%
Cumulative capital investment return to investors as a percentage of benchmark	6.00%
American Realty Capital Healthcare III 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%
American Realty Capital Healthcare III 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%
Annual Targeted Investor Return | American Realty Capital Healthcare III 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%
Maximum | American Realty Capital Healthcare III Advisors, LLC | Pre-tax Non-compounded Return on Capital Contribution | Advisor
Related Party Transaction [Line Items]
Subordinated performance fee as a percentage of benchmark	10.00%
Maximum | American Realty Capital Healthcare III Advisors, LLC | Contract Sales Price | Advisor
Related Party Transaction [Line Items]
Real estate commissions as a percentage of benchmark	2.00%
Maximum | Brokerage Commission Fees | American Realty Capital Healthcare III Advisors, LLC | Contract Sales Price | Advisor
Related Party Transaction [Line Items]
Real estate commissions as a percentage of benchmark	50.00%
Maximum | Real Estate Commissions | American Realty Capital Healthcare III Advisors, LLC | Contract Sales Price | Advisor
Related Party Transaction [Line Items]
Real estate commissions as a percentage of benchmark	6.00%

Equity-Based Compensation (Narr

Equity-Based Compensation (Narrative) (Details) - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 4	$ 30
Restricted Share Plan | Unvested restricted shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted automatically upon election to board of directors (in shares)		1,333
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)		6,300,000
Unrecognized compensation costs		$ 100
Weighted average period of recognition		3 years 6 months
Equity-based compensation	$ 4	$ 30

Equity-Based Compensation (Acti

Equity-Based Compensation (Activity) (Details) - Restricted Share Plan - Unvested restricted shares	12 Months Ended
	Dec. 31, 2015$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning Balance (in shares) | shares	2,666
Granted (in shares) | shares	2,666
Vested (in shares) | shares	(533)
Forfeitures (in shares) | shares	0
Ending Balance (in shares) | shares	4,799
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Beginning Balance, Weighted-Average Issue Price (usd per share) | $ / shares	$ 22.50
Granted, Weighted-Average Issue Price (usd per share) | $ / shares	22.50
Vested, Weighted-Average Issue Price (usd per share) | $ / shares	22.50
Forfeitures, Weighted-Average Issue Price (usd per share) | $ / shares	0
Ending Balance, Weighted-Average Issue Price (usd per share) | $ / shares	$ 22.50

Non-Controlling Interests (Narr

Non-Controlling Interests (Narrative) (Details) - shares	Dec. 31, 2015	Dec. 31, 2014
Advisor | American Realty Capital Healthcare III Advisors, LLC
Noncontrolling Interest [Line Items]
OP Units (in shares)	90	90

Non-Controlling Interests (Inve

Non-Controlling Interests (Investment Agreements with Third Parties) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Noncontrolling Interest [Line Items]
Third Party Net Investment Amount	$ 472	$ 0
Net Real Estate Assets Subject to Investment Arrangement	127,986	0
Mortgage notes payable	5,093	$ 0
UnityPoint Clinic - Muscatine
Noncontrolling Interest [Line Items]
Third Party Net Investment Amount	$ 294
Noncontrolling ownership percentage	5.00%
Distributions	$ 0
UnityPoint Clinic - Muscatine | Noncontrolling Interest
Noncontrolling Interest [Line Items]
Net Real Estate Assets Subject to Investment Arrangement	6,024
Mortgage notes payable	0
UnityPoint Clinic - Moline
Noncontrolling Interest [Line Items]
Third Party Net Investment Amount	$ 189
Noncontrolling ownership percentage	5.00%
Distributions	$ 0
UnityPoint Clinic - Moline | Noncontrolling Interest
Noncontrolling Interest [Line Items]
Net Real Estate Assets Subject to Investment Arrangement	3,846
Mortgage notes payable	$ 0

Net Loss Per Share (Details)

Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	2 Months Ended	3 Months Ended						8 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2015
Earnings Per Share [Abstract]
Net loss attributable to stockholders	$ (16)	$ (2,737)	$ (1,561)	$ (601)	$ (319)	$ (136)	$ (28)	$ (180)	$ (5,218)
Basic and diluted weighted average shares outstanding (in shares)	5,359	6,467,301	4,614,402	2,047,581	164,258	8,888	8,888	7,937	3,344,191
Basic and diluted net loss per share (in usd per share)	$ (2.99)	$ (0.42)	$ (0.34)	$ (0.29)	$ (1.94)	$ (15.30)	$ (3.15)	$ (22.68)	$ (1.56)

Net Loss Per Share (Antidilutiv

Net Loss Per Share (Antidilutive Securities) (Details) - shares	8 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	2,756	12,143
Unvested restricted shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	2,666	4,799
OP Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	90	90
Class B units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	7,254

Segment Reporting (Narrative) (

Segment Reporting (Narrative) (Details)	12 Months Ended
	Dec. 31, 2015segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segment Reporting (Reconciliati

Segment Reporting (Reconciliation of Segment Activity) (Details) - USD ($) $ in Thousands	2 Months Ended	3 Months Ended						8 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2015
Segment Reporting Information [Line Items]
Rental income								$ 0	$ 2,540
Operating expense reimbursements								0	573
Resident services and fee income								0	1,030
Revenues	$ 0	$ 2,756	$ 1,184	$ 192	$ 11	$ 0	$ 0	0	4,143
Property operating and maintenance								0	1,370
Net operating income									2,773
Operating fees to related party								0	(46)
Acquisition and transaction related								0	(4,747)
General and administrative								(180)	(1,315)
Depreciation and amortization								0	(1,737)
Interest expense								0	(73)
Income tax expense								0	(84)
Net loss attributable to non-controlling interests								0	11
Net loss	$ (16)	$ (2,737)	$ (1,561)	$ (601)	$ (319)	$ (136)	$ (28)	$ (180)	(5,218)
Operating Segments | Medical Office Buildings
Segment Reporting Information [Line Items]
Rental income									2,393
Operating expense reimbursements									573
Resident services and fee income									0
Revenues									2,966
Property operating and maintenance									717
Net operating income									2,249
Operating Segments | Triple-Net Leased Healthcare Facilities
Segment Reporting Information [Line Items]
Rental income									147
Operating expense reimbursements									0
Resident services and fee income									0
Revenues									147
Property operating and maintenance									1
Net operating income									146
Operating Segments | Seniors Housing Communities
Segment Reporting Information [Line Items]
Rental income									0
Operating expense reimbursements									0
Resident services and fee income									1,030
Revenues									1,030
Property operating and maintenance									652
Net operating income									$ 378

Segment Reporting (Reconcilia66

Segment Reporting (Reconciliation of Segment Activity to Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Apr. 23, 2014
Segment Reporting Information [Line Items]
Investments in real estate:	$ 127,986	$ 0
Cash	16,808	187	$ 0
Restricted cash	62	0
Straight-line rent receivable	153	0
Prepaid expenses and other assets	714	59
Deferred costs, net	129
Total assets	145,852	246
Operating Segments | Medical Office Buildings
Segment Reporting Information [Line Items]
Investments in real estate:	112,093	0
Operating Segments | Triple-Net Leased Healthcare Facilities
Segment Reporting Information [Line Items]
Investments in real estate:	4,720	0
Operating Segments | Seniors Housing Communities
Segment Reporting Information [Line Items]
Investments in real estate:	$ 11,173	$ 0

Commitments and Contingencies67

Commitments and Contingencies (Summary of Operating Lease Agreements) (Details) $ in Thousands	Dec. 31, 2015USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,016	$ 104
2,017	104
2,018	105
2,019	106
2,020	109
Thereafter	3,440
Total	$ 3,968

Commitments and Contingencies68

Commitments and Contingencies (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Commitments and Contingencies Disclosure [Abstract]
Rent expense	$ 23

Quarterly Results (Unaudited)69

Quarterly Results (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	2 Months Ended	3 Months Ended						8 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 0	$ 2,756	$ 1,184	$ 192	$ 11	$ 0	$ 0	$ 0	$ 4,143
Net loss	$ (16)	$ (2,737)	$ (1,561)	$ (601)	$ (319)	$ (136)	$ (28)	$ (180)	$ (5,218)
Basic and diluted weighted average shares outstanding (in shares)	5,359	6,467,301	4,614,402	2,047,581	164,258	8,888	8,888	7,937	3,344,191
Basic and diluted net loss per share (in usd per share)	$ (2.99)	$ (0.42)	$ (0.34)	$ (0.29)	$ (1.94)	$ (15.30)	$ (3.15)	$ (22.68)	$ (1.56)

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) - shares	Jan. 25, 2016	Dec. 31, 2015	Aug. 20, 2014
Subsequent Event
Subsequent Event [Line Items]
Authorized percent of shares outstanding for repurchase for fiscal semester	2.50%
Authorized percent of shares outstanding for repurchase for fiscal year	5.00%
One Year
Subsequent Event [Line Items]
Repurchase price as a percent of share price		92.50%
Two Years
Subsequent Event [Line Items]
Repurchase price as a percent of share price		95.00%
Three Years
Subsequent Event [Line Items]
Repurchase price as a percent of share price		97.50%
Four Years
Subsequent Event [Line Items]
Repurchase price as a percent of share price		100.00%
Common Stock
Subsequent Event [Line Items]
Shares available for issuance under a distribution reinvestment plan (in shares)			26,300,000
Common Stock | Subsequent Event
Subsequent Event [Line Items]
Shares available for issuance under a distribution reinvestment plan (in shares)	700,000

Real Estate and Accumulated D71

Real Estate and Accumulated Depreciation - Schedule III (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 5,093
Land, Initial Costs	10,225
Building and Improvements, Initial Costs	101,129
Building and Improvements, Subsequent to Acquisition	0
Gross Amount	111,354	$ 0
Accumulated Depreciation	805	$ 0
Acquired Intangible Assets	18,500
Federal Income Tax Basis	131,500
Accumulated Amortization	$ 1,000
Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Estimated useful life	40 years
Land Improvements
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Estimated useful life	15 years
Furniture and Fixtures
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Estimated useful life	5 years
DaVita Bay Breeze
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land, Initial Costs	409
Building and Improvements, Initial Costs	1,103
Building and Improvements, Subsequent to Acquisition	0
Gross Amount	1,512
Accumulated Depreciation	29
RAI Clearwater
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land, Initial Costs	615
Building and Improvements, Initial Costs	3,743
Building and Improvements, Subsequent to Acquisition	0
Gross Amount	4,358
Accumulated Depreciation	66
DaVita Hudson
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land, Initial Costs	226
Building and Improvements, Initial Costs	2,304
Building and Improvements, Subsequent to Acquisition	0
Gross Amount	2,530
Accumulated Depreciation	41
Rockwall Medical Plaza
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land, Initial Costs	1,246
Building and Improvements, Initial Costs	4,952
Building and Improvements, Subsequent to Acquisition	0
Gross Amount	6,198
Accumulated Depreciation	78
Decatur Medical Office Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land, Initial Costs	711
Building and Improvements, Initial Costs	3,485
Building and Improvements, Subsequent to Acquisition	0
Gross Amount	4,196
Accumulated Depreciation	42
Buckeye Health Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land, Initial Costs	410
Building and Improvements, Initial Costs	5,278
Building and Improvements, Subsequent to Acquisition	0
Gross Amount	5,688
Accumulated Depreciation	58
Philip Professional Center - Lawrenceville, GA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	5,093
Land, Initial Costs	808
Building and Improvements, Initial Costs	6,689
Building and Improvements, Subsequent to Acquisition	0
Gross Amount	7,497
Accumulated Depreciation	76
Cedarhurst of Collinsville
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land, Initial Costs	665
Building and Improvements, Initial Costs	9,969
Building and Improvements, Subsequent to Acquisition	0
Gross Amount	10,634
Accumulated Depreciation	106
Illinois CancerCare - Galesburg
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land, Initial Costs	363
Building and Improvements, Initial Costs	2,259
Building and Improvements, Subsequent to Acquisition	0
Gross Amount	2,622
Accumulated Depreciation	23
Galesburg VA Outpatient Clinic - Galesburg
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land, Initial Costs	464
Building and Improvements, Initial Costs	1,483
Building and Improvements, Subsequent to Acquisition	0
Gross Amount	1,947
Accumulated Depreciation	17
Arcadian Cove Assisted Living
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land, Initial Costs	276
Building and Improvements, Initial Costs	4,438
Building and Improvements, Subsequent to Acquisition	0
Gross Amount	4,714
Accumulated Depreciation	54
Woodlake Office Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land, Initial Costs	999
Building and Improvements, Initial Costs	11,371
Building and Improvements, Subsequent to Acquisition	0
Gross Amount	12,370
Accumulated Depreciation	102
Greenfield Medical Plaza - Gilbert
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land, Initial Costs	1,439
Building and Improvements, Initial Costs	4,671
Building and Improvements, Subsequent to Acquisition	0
Gross Amount	6,110
Accumulated Depreciation	33
Lee Memorial Health System Outpatient Center - Fort Meyers
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land, Initial Costs	432
Building and Improvements, Initial Costs	4,436
Building and Improvements, Subsequent to Acquisition	0
Gross Amount	4,868
Accumulated Depreciation	20
Beaumont Medical Center - Warren
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land, Initial Costs	399
Building and Improvements, Initial Costs	11,672
Building and Improvements, Subsequent to Acquisition	0
Gross Amount	12,071
Accumulated Depreciation	26
Madison Medical Plaza - Joliet
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land, Initial Costs	0
Building and Improvements, Initial Costs	15,684
Building and Improvements, Subsequent to Acquisition	0
Gross Amount	15,684
Accumulated Depreciation	34
UnityPoint Clinic - Muscatine
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land, Initial Costs	483
Building and Improvements, Initial Costs	4,590
Building and Improvements, Subsequent to Acquisition	0
Gross Amount	5,073
Accumulated Depreciation	0
UnityPoint Clinic - Moline
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land, Initial Costs	280
Building and Improvements, Initial Costs	3,002
Building and Improvements, Subsequent to Acquisition	0
Gross Amount	3,282
Accumulated Depreciation	$ 0

Real Estate and Accumulated D72

Real Estate and Accumulated Depreciation - Schedule III (Summary of Activity for Real Estate and Accumulated Depreciation) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Real estate investments, at cost:
Balance at beginning of year	$ 0
Additions-Acquisitions	111,354
Disposals	0
Balance at end of the year	111,354
Accumulated depreciation and amortization:
Balance at beginning of year	0
Depreciation expense	805
Disposals	0
Balance at end of the year	$ 805