MedEquities Realty Trust 10-K 21 Feb 18 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Feb. 14, 2018	Jun. 30, 2017
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Trading Symbol	MRT
Entity Registrant Name	MEDEQUITIES REALTY TRUST, INC.
Entity Central Index Key	1,616,314
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		31,886,684
Entity Public Float			$ 358,216,529

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Real estate properties
Land	$ 43,180,000	$ 39,584,000
Building and improvements	505,623,000	440,927,000
Intangible lease assets	11,387,000	11,387,000
Furniture, fixtures, and equipment	3,538,000	2,976,000
Less accumulated depreciation and amortization	(41,984,000)	(26,052,000)
Total real estate properties, net	521,744,000	468,822,000
Mortgage notes receivable, net	18,557,000	9,915,000
Cash and cash equivalents	12,640,000	9,509,000
Other assets, net	28,662,000	31,507,000
Total Assets	581,603,000	519,753,000
Liabilities
Debt	215,523,000	144,000,000
Accounts payable and accrued liabilities	6,605,000	15,244,000
Deferred revenue	2,722,000	2,251,000
Total liabilities	224,850,000	161,495,000
Commitments and contingencies
Equity
Common stock, $0.01 par value. Authorized 400,000 shares; 31,836 and 31,757 issued and outstanding at December 31, 2017 and December 31, 2016, respectively	314,000	314,000
Additional paid in capital	375,690,000	372,615,000
Dividends declared	(67,691,000)	(40,951,000)
Retained earnings	44,196,000	23,774,000
Accumulated other comprehensive income	1,247,000	0
Total MedEquities Realty Trust, Inc. stockholders' equity	353,756,000	355,752,000
Noncontrolling interest	2,997,000	2,506,000
Total equity	356,753,000	358,258,000
Total Liabilities and Equity	$ 581,603,000	$ 519,753,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 30, 2016
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	31,836,000	31,757,000
Common stock, shares outstanding	31,836,000	31,757,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenues
Rental income	$ 58,913	$ 48,330	$ 41,484
Total revenues	61,105	49,296	44,438
Expenses
Depreciation and amortization	15,504	14,323	9,969
Property related	1,482	1,303	1,205
Acquisition related	457	488	417
Franchise, excise and other taxes	141	366	338
Bad debt expense		216
General and administrative	11,677	10,596	8,628
Total operating expenses	29,261	27,292	20,557
Operating income	31,844	22,004	23,881
Other income (expense)
Interest and other income	9	195	12
Interest expense	(7,701)	(10,883)	(7,163)
Other income (expense)	(7,692)	(10,688)	(7,151)
Net income	24,152	11,316	16,730
Less: Preferred stock dividends		(13,760)	(7,835)
Less: Net income attributable to noncontrolling interest	(3,730)	(266)	(4,029)
Net income (loss) attributable to common stockholders	$ 20,422	$ (2,710)	$ 4,866
Net income (loss) attributable to common stockholders per share
Basic and diluted	$ 0.64	$ (0.18)	$ 0.42
Weighted average shares outstanding
Basic	31,447	15,838	10,948
Diluted	31,484	15,838	10,948
Dividends declared per common share	$ 0.84	$ 0.63	$ 0.85
Mortgage Notes Receivable
Revenues
Interest income	$ 2,157	$ 921	$ 2,717
Notes Receivable
Revenues
Interest income	$ 35	$ 45	$ 237

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 24,152	$ 11,316	$ 16,730
Other comprehensive income:
Increase in fair value of cash flow hedge	1,247
Total other comprehensive income	1,247
Comprehensive income	25,399	11,316	16,730
Less: comprehensive income attributable to noncontrolling interest	(3,730)	(266)	(4,029)
Comprehensive income attributable to MedEquities Realty Trust, Inc.	$ 21,669	$ 11,050	$ 12,701

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Total	Series B Preferred Stock	Common Stock	Additional Paid-In Capital	Retained Earnings	Dividends Declared	Accum. Other comprehensive income	Non-Controlling Interest
Balance at Dec. 31, 2014	$ 149,877		$ 109	$ 151,991	$ 23	$ (2,246)
Balance (in shares) at Dec. 31, 2014			11,075
Issuance of stock, net of costs	119,955	$ 1		119,954
Issuance of stock, net of costs (in shares)		125	158
Investment in subsidiary by noncontrolling interest	1,000							$ 1,000
Distributions to noncontrolling interest	(482)							(482)
Stock-based compensation	1,795			1,795
Net income	16,730				12,701			4,029
Dividends to preferred stockholders	(7,835)					(7,835)
Dividends to common stockholders	(9,795)					(9,795)
Balance at Dec. 31, 2015	271,245	$ 1	$ 109	273,740	12,724	(19,876)		4,547
Balance (in shares) at Dec. 31, 2015		125	11,233
Redemption of stock	(125,125)	$ (1)		(125,124)
Redemption of stock (in shares)		(125)
Grants of restricted stock (in shares)			89
Issuance of stock, net of costs	221,649		$ 205	221,444
Issuance of stock, net of costs (in shares)			20,435
Distributions to noncontrolling interest	(2,307)							(2,307)
Stock-based compensation	2,555			2,555
Net income	11,316				11,050			266
Dividends to preferred stockholders	(13,760)					(13,760)
Dividends to common stockholders	(7,315)					(7,315)
Balance at Dec. 31, 2016	358,258		$ 314	372,615	23,774	(40,951)		2,506
Balance (in shares) at Dec. 31, 2016			31,757
Grants of restricted stock (in shares)			115
Issuance of stock, net of costs	(20)			(20)
Repurchase and cancellation of restricted stock	(50)			(50)
Repurchase and cancellation of restricted stock (in shares)			(5)
Retirement of common stock (in shares)			(11)
Shares surrendered for taxes upon vesting	(242)			(242)
Shares surrendered for taxes upon vesting (in shares)			(20)
Other comprehensive income	1,247						$ 1,247
Distributions to noncontrolling interest	(3,239)							(3,239)
Stock-based compensation	3,387			3,387
Net income	24,152				20,422			3,730
Dividends to common stockholders	(26,740)					(26,740)
Balance at Dec. 31, 2017	$ 356,753		$ 314	$ 375,690	$ 44,196	$ (67,691)	$ 1,247	$ 2,997
Balance (in shares) at Dec. 31, 2017			31,836

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Operating activities
Net income	$ 24,152	$ 11,316	$ 16,730
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	17,617	17,921	11,871
Stock-based compensation	3,387	2,555	1,795
Straight-line rent receivable	(5,919)	3,447	(9,523)
Straight-line rent liability	157	165	171
Provision for bad debt		216
Construction mortgage interest income	(22)
Write-off of pre-acquisitions costs	149	252
Write-off of pre-offering costs		89
Changes in operating assets and liabilities
Other assets	10,526	(13,055)	(5,222)
Accounts payable and accrued liabilities	(9,147)	9,062	4,117
Deferred revenues	503	(1,632)	2,968
Net cash provided by operating activities	41,403	30,336	22,907
Investing activities
Acquisitions of real estate	(55,179)	(72)	(317,872)
Capital expenditures for real estate	(1,105)
Funding of mortgage notes receivable, net	(21,113)
Funding of note receivable		(1,662)	(500)
Repayments of notes receivable	450	1,712
Capitalized pre-acquisition costs, net	(107)	(306)	(749)
Capital expenditures for corporate property	(15)	(12)	(291)
Net cash used in investing activities	(77,069)	(340)	(319,412)
Financing activities
Proceeds from borrowings on term loan	125,000
Net borrowings (repayments) on secured credit facility	(52,800)	(103,400)	197,400
Dividends paid to common stockholders	(26,657)	(10,459)	(7,483)
Distributions to noncontrolling interest	(3,239)	(2,307)	(482)
Deferred loan costs	(2,910)	(1,402)	(2,406)
Capitalized pre-offering costs	(280)		(2,491)
Taxes remitted upon vesting of restricted stock	(224)
Cancellation of restricted stock	(50)
Proceeds from sale of common shares, net of offering costs	(43)	224,320
Redemption of preferred shares		(125,125)
Dividends paid to preferred stockholders		(14,588)	(7,007)
Proceeds from sale of preferred shares, net of offering costs			119,955
Contributions by noncontrolling interest			1,000
Net cash provided by (used in) financing activities	38,797	(32,961)	298,486
Increase (decrease) in cash and cash equivalents	3,131	(2,965)	1,981
Cash and cash equivalents, beginning of period	9,509	12,474	10,493
Cash and cash equivalents, end of period	12,640	9,509	12,474
Supplemental Cash Flow Information
Interest paid	6,325	8,417	5,079
Accrued pre-acquisition costs	64	21	131
Accrued pre-offering costs	18		942
Texas gross margins taxes paid, net of reimbursement	$ (23)	$ 69	7
Lakeway mortgage note receivable foreclosure			50,000
Amarillo mortgage note conversion			$ 18,000

Organization and Nature of Busi

Organization and Nature of Business	12 Months Ended
	Dec. 31, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Nature of Business	Note 1 - Organization and Nature of Business MedEquities Realty Trust, Inc. (the “Company”), which was incorporated in the state of Maryland on April 23, 2014, is a self-managed and self-administered company that invests in a diversified mix of healthcare properties and healthcare-related real estate debt investments. As of December 31, 2017, the Company had investments of $540.3 million, net in 32 real estate properties and three mortgage notes receivable. The Company owns 100% of all of its properties and investments, other than its investment in an acute care hospital in Lakeway, Texas (“Lakeway Hospital”), in which the Company owns a 51% interest through a consolidated partnership (the “Lakeway Partnership”). In October 2016, the Company completed its initial public offering (the “IPO”) of its common stock in which the Company issued 20,434,567 shares at a public offering price of $12.00 per share, resulting in aggregate net proceeds to the Company of approximately $221.6 million, after deducting the underwriting discount and commissions and offering expenses payable by the Company. These offering expenses include approximately $2.7 million of offering expenses that had been paid prior to 2016. The Company used approximately $131.4 million to redeem all of its outstanding preferred stock and approximately $94.8 million to repay amounts outstanding under its secured credit facility. The Company conducts its business through an umbrella partnership REIT (“UPREIT”) structure, consisting of the Company’s operating partnership, MedEquities Realty Operating Partnership, LP (the “Operating Partnership”), and subsidiaries of the Operating Partnership, including the Company’s taxable REIT subsidiary (“TRS”), MedEquities Realty TRS, LLC. The Company’s wholly owned limited liability company, MedEquities OP GP, LLC, is the sole general partner of the Operating Partnership, and the Company presently owns all of the units of limited partnership interest in the Operating Partnership (“OP units”). In the future, the Company may issue OP units to third parties in connection with healthcare property acquisitions, as compensation or otherwise. As the sole owner of the general partner of the Operating Partnership, the Company has the exclusive power to manage and conduct the Operating Partnership’s business, subject to certain limitations. The Company has elected to be taxed as a real estate investment trust (“REIT”) for U.S. federal tax purposes. To maintain its qualification as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its annual REIT taxable income to its stockholders (which is computed without regard to the dividends paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with U.S. generally accepted accounting principles (“GAAP”)). As a REIT, the Company will not be subject to federal income tax to the extent it distributes qualifying dividends to its stockholders. If the Company fails to maintain its qualification as a REIT in any taxable year, it will be subject to federal income tax (including any applicable alternative minimum tax) on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost unless the Internal Revenue Service grants the Company relief under certain statutory provisions. Such an event could materially and adversely affect the Company’s net income and net cash available for distribution to stockholders. Even if the Company qualifies for taxation as a REIT, the Company may be subject to state and local taxes on its income and property and federal income and excise taxes on its undistributed income. Taxable income from non-REIT activities managed through the Company’s TRS, if any, is subject to applicable U.S. federal, state and local income taxes. The Company has no activity in its TRS.

Accounting Policies and Related

Accounting Policies and Related Matters	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Accounting Policies and Related Matters	Note 2 - Accounting Policies and Related Matters Use of Estimates : The preparation of the consolidated financial statements in accordance 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 as of the date of the consolidated financial statements and the amounts of revenue and expense reported in the period. Significant estimates are made for the valuation of real estate and any related intangibles and fair value assessments with respect to purchase price allocations. Actual results may differ from those estimates. Principles of Consolidation : The consolidated financial statements include the accounts of the Company’s wholly owned subsidiaries and subsidiaries in which the Company has a controlling interest. All material intercompany transactions and balances have been eliminated in consolidation. There are no material differences between the Company and the Operating Partnership as of December 31, 2017. Noncontrolling Interest : The portion of equity not owned by the Company in entities controlled by the Company, and thus consolidated, is presented as noncontrolling interest and classified as a component of consolidated equity, separate from total stockholders’ equity on the Company’s consolidated balance sheets. The amount recorded will be based on the noncontrolling interest holder’s initial investment in the consolidated entity, adjusted to reflect the noncontrolling interest holder’s share of earnings or losses in the consolidated entity and any distributions received or additional contributions made by the noncontrolling interest holder. The earnings or losses from the entity attributable to noncontrolling interests are reflected in “net income attributable to noncontrolling interest” in the consolidated statements of operations. Segment Reporting : The Company owns, acquires and finances healthcare-related properties. The Company is managed as one reporting unit, rather than multiple reporting units, for internal reporting purposes and for internal decision-making. Therefore, the Company discloses its operating results in a single reportable segment. Cash and Cash Equivalents : Cash and cash equivalents consist of highly liquid investments with original maturities of three months or less. The majority of the Company’s cash and cash equivalents are held at major commercial banks which at times may exceed the Federal Deposit Insurance Corporation limit. The Company has not experienced any losses to date on invested cash. Restricted Cash : Restricted cash consists of amounts funded by tenants and held by the Company for payment of costs and expenses associated with capital improvements, repairs and replacements to be performed at certain of the Company’s facilities. As of December 31, 2016, the restricted cash balance was approximately $0.3 million and is included in Other Assets on the Company’s consolidated balance sheets. The Company did not have a restricted cash balance at December 31, 2017. Revenue Recognition: Leases of Real Estate Properties At the inception of a new lease arrangement, including new leases that arise from amendments, the Company assesses the terms and conditions to determine the proper lease classification. Currently, all of the Company’s lease arrangements are classified as operating leases. Rental revenue for operating leases is recognized on a straight-line basis over the lease term when collectability is reasonably assured and the tenant has taken possession or controls the physical use of a leased asset. If the lease provides for tenant improvements, the Company determines whether the tenant improvements, for accounting purposes, are owned by the tenant or by the Company. When the Company is the owner of the tenant improvements, the tenant is not considered to have taken physical possession or have control of the physical leased asset until the tenant improvements are substantially completed. When the tenant is the owner of the tenant improvements, any tenant improvement allowance funded is treated as a lease incentive and amortized as a reduction of revenue over the lease term. The determination of ownership of the tenant improvements is subject to significant judgment. If the Company’s assessment of the owner of the tenant improvements for accounting purposes were different, the timing and amount of revenue recognized would be impacted. The Company maintains an allowance for doubtful accounts, including an allowance for operating lease straight-line rent receivables, for estimated losses resulting from tenant defaults or the inability of tenants to make contractual rent and tenant recovery payments. The Company monitors the liquidity and creditworthiness of tenants and operators on a continuous basis. This evaluation considers industry and economic conditions, property performance, credit enhancements and other factors. For straight-line rent amounts, the Company’s assessment is based on income recoverable over the term of the lease. The Company exercises judgment in establishing allowances and considers payment history and current credit status in developing these estimates. These estimates may differ from actual results, which could be material to the consolidated financial statements. At December 31, 2017 and 2016, the Company had no allowance for doubtful accounts. The Company’s leases are generally “triple-net” leases with terms requiring operating expenses associated with the Company’s facilities, such as taxes, insurance and utilities, to be paid directly by the Company’s tenants. Failure by a tenant to pay such expenses, or to pay late, would result in a violation of the lease agreement, which could lead to an event of default if not cured timely. Leases in the medical office building owned by the Company require tenants to make estimated payments to the Company to cover their proportional share of operating expenses, including, but not limited to, real estate taxes, property insurance, routine maintenance and repairs, utilities and property management expenses. The Company collects these estimated expenses and is reimbursed by tenants for any actual expense in excess of estimates or reimburses tenants if collected estimates exceed actual operating results. The reimbursements are recorded in rental income as operating expense recoveries, and the expenses are recorded in property-related expenses, as the Company is generally the primary obligor with respect to purchasing goods and services from third-party suppliers, has discretion in selecting the supplier and bears the credit risk. For the years ended December 31, 2017, December 31, 2016 and December 31, 2015, the Company reported operating expense recoveries, primarily related to its one medical office building, totaling $1.0 million, $0.9 million, and $0.8 million, respectively, which is included in rental income on the consolidated statement of operations. Revenue Recognition: Mortgage Notes and Other Receivables Mortgage notes receivable are classified as held-for-investment based on management’s intent and ability to hold the mortgage notes receivable for the foreseeable future or to maturity. The Company recognizes interest income on mortgage notes receivable, including the amortization of any discounts and premiums, using the interest method applied on a loan-by-loan basis when collectability of the future payments is reasonably assured. Premiums, discounts and related costs are recognized as yield adjustments over the term of the related loans. Mortgage notes receivable are placed on non-accrual status at such time as management determines that collectability of contractual amounts is not reasonably assured. While on non-accrual status, mortgage notes receivable are either accounted for on a cash basis, in which income is recognized only upon receipt of cash, or on a cost-recovery basis, where cash receipts reduce the carrying value of the loan, based on management’s judgment of collectability. No mortgage notes receivable are currently on non-accrual status. Allowances are established for loans based upon an estimate of probable losses on an individual basis if they are determined to be impaired. Loans are impaired when it is deemed probable that the Company will be unable to collect all amounts due on a timely basis in accordance with the contractual terms of the loan. The allowance is based upon management’s assessment of the borrower’s overall financial condition, resources and payment record; the prospects for support from any financially responsible guarantors; and, if appropriate, the net realizable value of any collateral. These estimates consider all available evidence including, as appropriate, the present value of the expected future cash flows discounted at the loan’s effective interest rate, the fair value of collateral, general economic conditions and trends, historical and industry loss experience, and other relevant factors. At December 31, 2017 and 2016, the Company had no allowance for loan losses. Commitment, origination and other fees from lending activities are recognized as interest income over the life of the related loan. Allocation of Purchase Price of Acquired Real Estate : As part of the purchase price allocation process of acquisitions (whether accounted for as asset acquisitions or business combinations), management makes estimates based upon the relative fair values of each component for asset acquisitions and at a fair value of each component for business combinations. In making estimates of fair values for purposes of allocating purchase prices of acquired real estate, the Company utilizes a number of sources, including independent appraisals that may be obtained in connection with the acquisition or financing of the respective property and other market data. The Company also considers information obtained about each property as a result of the Company’s pre-acquisition due diligence, marketing and leasing activities in estimating the fair value of the assets acquired. The Company records above-market and below-market in-place lease values, if any, which are based on the present value of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining non-cancelable term of the lease, or, for below-market in-place leases, including any bargain renewal option terms. The Company amortizes any resulting capitalized above-market lease values as a reduction of rental income over the lease term. The Company amortizes any resulting capitalized below-market lease values as an increase to rental income over the lease term. As of December 31, 2017 and 2016, the Company had one above-market in-place lease with a gross value of $7.6 million. The Company did not have any below-market in-place leases as of December 31, 2017 and 2016. The Company amortizes the value of in-place leases to amortization expense over the initial term of the respective leases. If a lease is terminated, the unamortized portion of the in-place lease value is charged to amortization expense. Depreciation and amortization of real estate assets and liabilities is provided for on a straight-line basis over the estimated useful lives of the assets: Building 18 to 50 years Improvements 2 to 48 years Lease intangibles 2.7 to 15 years Furniture, fixtures, and equipment 5 to 14 years Asset Impairment: Real Estate Properties Real estate asset impairment losses are recorded when events or changes in circumstances indicate the asset is impaired and the estimated undiscounted cash flows to be generated by the asset are less than its carrying amount. Management assesses the impairment of properties individually and impairment losses are calculated as the excess of the carrying amount over the fair value of assets to be held and used, and carrying amount over the fair value less cost to sell in instances where management has determined that the Company will dispose of the property and the criteria are met for the property to be classified as held-for-sale. In determining the fair value, the Company uses current appraisals or other third party opinions of value and other estimates of fair value such as estimated discounted future cash flows. Asset Impairment: Mortgage Notes and Other Receivables The Company evaluates the carrying value of mortgage and other notes receivable on an individual basis. Management periodically evaluates the realizability of future cash flows from the mortgage note receivable when events or circumstances, such as non-receipt of principal and interest payments and/or significant deterioration of the financial condition of the borrower, indicate that the Company will be unable to collect all the contractual interest and principal payments as scheduled in the loan agreement. An impairment charge is recognized in current period earnings and is calculated as the difference between the carrying amount of the loan and the discounted cash flows expected to be received, or if foreclosure is probable, the fair value of the collateral securing the loan. Earnings Per Share : Basic earnings per common share is computed by dividing net income (loss) applicable to common shares by the weighted number of shares of common stock outstanding during the period. Diluted earnings per common share is calculated by including the effect of dilutive securities. Certain of the Company’s unvested restricted stock awards contain non-forfeitable rights to dividends, and accordingly, these awards are deemed to be participating securities. These participating securities are included in the earnings allocation in computing both basic and diluted earnings per common share. Income Taxes : Commencing with its taxable year ended December 31, 2014, the Company elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the "Code"). The Company intends at all times to maintain its qualification as a REIT under Sections 856 through 860 of the Code. The Company has elected that its subsidiary, MedEquities Realty TRS, LLC, be taxed as a TRS under provisions of the Code. A TRS is subject to federal and state income taxes like those applicable to regular corporations. Aside from such income taxes that may be applicable to the taxable income in the Company’s TRS, the Company will not be subject to federal income tax provided that the Company continues to maintain its qualification as a REIT and makes distributions to stockholders equal to or in excess of the Company’s taxable income. The Company’s federal tax returns for the short taxable year ended December 31, 2014 and for the years ended December 31, 2015 and 2016 are currently subject to examination by taxing authorities. The Company classifies interest and penalties related to uncertain tax positions, if any, in the Company’s consolidated financial statements as a component of income tax expense. The Company has made no U.S. federal income tax payments. Stock-Based Compensation : The fair value of stock-based awards is calculated on the date of grant. The Company amortizes the stock-based compensation expense on a straight-line basis over the period that the awards are expected to vest, net of any forfeitures. Deferred Costs : Costs incurred prior to the completion of offerings of stock or other capital instruments that directly relate to the offering are deferred and netted against proceeds received from the offering. Fair Value Measurement : Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants. In calculating fair value, a company must maximize the use of observable market inputs, minimize the use of unobservable market inputs and disclose in the form of an outlined hierarchy the details of such fair value measurements. A hierarchy of valuation techniques is defined to determine whether the inputs to a fair value measurement are considered to be observable or unobservable in a marketplace. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. This hierarchy requires the use of observable market data when available. These inputs have created the following fair value hierarchy: • Level 1 - quoted prices for identical instruments in active markets; • Level 2 - quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and • Level 3 - fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. If quoted market prices or inputs are not available, fair value measurements are based upon valuation models that utilize current market or independently sourced market inputs, such as interest rates, option volatilities, credit spreads and market capitalization rates. Items valued using such internally-generated valuation techniques are classified according to the lowest level input that is significant to the fair value measurement. As a result, the asset or liability could be classified in either Level 2 or 3 even though there may be some significant inputs that are readily observable. Valuation techniques used by the Company include the use of third-party valuations and internal valuations, which may include discounted cash flow and Monte Carlo valuation models. For the years ended December 31, 2017 and 2016, the Company has recorded all acquisitions and business combinations based on estimated fair values. The fair values were obtained from third-party appraisals based on comparable properties (using the market approach, which involved Level 3 inputs in the fair value hierarchy). Derivatives: In the normal course of business, the Company is subject to risk from adverse fluctuations in interest rates. The Company has chosen to manage this risk through the use of derivative financial instruments, primarily interest rate swaps. Counterparties to these contracts are major financial institutions. The Company is exposed to credit loss in the event of nonperformance by these counterparties. The Company does not use derivative instruments for trading or speculative purposes. The Company’s objective in managing exposure to interest risk is to limit the impact on cash flows. To qualify for hedge accounting, the Company’s interest rate swaps must effectively reduce the risk exposure that they are designed to hedge. In addition, at inception of a qualifying cash flow hedging relationship, the underlying transactions must be, and be expected to remain, probable of occurring in accordance with the Company’s related assertions. All of the Company’s hedges are cash flow hedges. The Company recognizes all derivative instruments as assets or liabilities at their fair value in the consolidated balance sheets. Changes in the fair value of derivative instruments that are not designated as hedges or that do not meet the criteria of hedge accounting are recognized in earnings. For derivatives designed in qualified cash flow hedging relationships, the change in fair value of the effective portion of the derivatives is recognized in accumulated other comprehensive income (loss), whereas the change in fair value of the ineffective portion is recognized in earnings. Gains and losses are reclassified from accumulated other comprehensive income into earnings once the underlying hedged transaction is recognized in earnings. Accumulated Other Comprehensive Income : Certain items must be included in comprehensive income, including items such as foreign currency translation adjustments, minimum pension liability adjustments and unrealized gains or losses on available-for-sale securities. As of December 31, 2017, the accumulated other comprehensive income balance was approximately $1.2 million. The Company had no items included in other comprehensive income as of December 31, 2016. Recent Accounting Developments: On January 1, 2017, the Company adopted the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Update (“ASU”) No. 2016-09, “Improvements to Employee Share-Based Payment Accounting,” which amends the accounting for share-based payment transactions, including income tax effects, equity versus liability classification and classification on the statement of cash flows. The adoption of this guidance had no impact on the Company’s consolidated results of operations, financial condition, statement of cash flows or liquidity. In January 2017, the FASB issued ASU No. 2017-01, “Clarifying the Definition of a Business,” that clarifies the framework for determining whether an integrated set of assets and activities meets the definition of a business. The revised framework establishes a screen for determining whether an integrated set of assets and activities is a business and narrows the definition of a business, which is expected to result in fewer transactions being accounted for as business combinations. Acquisitions of integrated sets of assets and activities that do not meet the definition of a business are accounted for as asset acquisitions. The Company has applied the provisions of ASU 2017-01 beginning with its real estate acquisitions in 2017. The adoption of ASU 2017-01 did not have a material effect on the Company’s consolidated financial statements. On January 1, 2018, the FASB’s new revenue recognition standard included in Accounting Standards Codification (“ASC”) 606 , Revenue from Contacts with Customers, In August 2017, the FASB issued ASU No. 2017-12, “Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities.” The purpose of this updated guidance is to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. The transition guidance provides companies with the option of early adopting the new standard using a modified retrospective transition method in any interim period after issuance of the update, or alternatively requires adoption for fiscal years beginning January 1, 2019. This adoption method will require recognition of the cumulative effect of initially applying the standard as an adjustment to accumulated other comprehensive income with a corresponding adjustment to the opening balance of retained earnings as of the beginning of the fiscal year of adoption. The Company continues to assess all potential impacts of the standard but does not currently expect adoption to have a material impact on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” which amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheet and making targeted improvements to lessor accounting. The guidance requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The guidance will be effective beginning January 1, 2019. Early adoption is permitted. The Company is currently evaluating the impact of adopting this new accounting standard on the Company’s consolidated financial statements. Since the Company is currently the lessee under two leases, the impact of adopting this standard is expected to be minimal. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326),” which requires entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The standard also requires additional disclosures related to significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity’s portfolio. The amended guidance is effective for fiscal years, and interim periods within those years, beginning January 1, 2020 with early adoption permitted for the fiscal years, and interim periods within those fiscal years, beginning January 1, 2019. The Company is evaluating the impact of adopting this new accounting standard on the Company’s consolidated financial statements and currently expects that it will not have a material impact. In November 2016, the FASB issued ASU No. 2016-18, “Statement of Cash Flows - Restricted Cash,” which required that a statement of cash flows explains the change during the period in the total cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The new guidance is effective for fiscal years, and interim periods within those years, beginning January 1, 2018. The adoption of this guidance will change the presentation of restricted cash on the Company’s consolidated statement of cash flows. However, it will have no impact on the Company’s consolidated results of operations, financial condition or liquidity.

Investment Activity

Investment Activity	12 Months Ended
	Dec. 31, 2017
Investment Activity [Abstract]
Investment Activity	Note 3 – Investment Activity 2017 Investment Activity During the year ended December 31, 2017, the Company made the following real estate investments, which are described in more detail below (dollars in thousands): Investment Date Number of Properties/Loans Investment Type (2) Gross Investment Advanced Diagnostics Hospital East Mortgage Loan (1) January 2017 - MTG $ - Woodlake at Tolland Nursing and Rehabilitation Center June 2017 1 SNF 10,133 Magnolia Portfolio July 2017 2 SNF 15,039 Medistar Gemini Mortgage Loan August 2017 1 MTG 6,700 AAC Portfolio August 2017 4 BH 25,047 Sequel Construction Mortgage Loan October 2017 1 MTG 1,935 Advanced Diagnostics Hospital East (1) November 2017 1 ACH 17,531 Total 10 $ 76,385 (1) On November 10, 2017, the Company exercised its option to acquire Advanced Diagnostics Hospital East for $17.5 million, which was satisfied by applying the $12.5 million aggregate principal amount outstanding on the mortgage note to the purchase price and $5.0 million in cash consideration. (2) SNF- Skilled Nursing Facility; BH- Behavioral Health; ACH- Acute Care Hospital; MTG- Mortgage Note Receivable 2017 Real Estate Acquisitions On June 30, 2017, the Company acquired Woodlake at Tolland Nursing & Rehabilitation Center, a 130-bed skilled nursing facility located in Woodlake, Connecticut, from a wholly owned subsidiary of Prospect Medical Holdings, Inc. for an aggregate purchase price of $10.0 million in cash. The property is 100% leased pursuant to a 12-year initial term triple-net lease with two ten-year renewal options at an initial lease rate of 9.0% with annual escalators. This transaction was accounted for as an asset acquisition and approximately $0.1 million of transaction costs were capitalized. On July 31, 2017, the Company acquired two skilled nursing facilities, totaling 160 licensed beds, located in Indiana from Magnolia Health Systems, Inc. (the “Magnolia Portfolio”) for an aggregate purchase price of $15.0 million in cash. The facilities are 100% leased to Magnolia Health Systems, Inc. pursuant to a 15-year initial term triple-net master lease with two ten-year renewal options at an initial lease rate of 9.0% with annual escalators. This transaction was accounted for as an asset acquisition and less than $0.1 million of transaction costs were capitalized. On August 9, 2017, the Company acquired four behavioral health and substance abuse treatment facilities from subsidiaries of AAC Holdings, Inc. (the “AAC Portfolio”) for an aggregate purchase price of $25.0 million in cash. The facilities are comprised of two standalone intensive outpatient treatment facilities in Las Vegas, Nevada and Arlington, Texas, a 110-bed sober living facility in Las Vegas and a 56-bed sober living facility in Arlington that is expected to expand to 131 beds by the end of 2018. The properties are 100% leased to AAC Holdings, Inc. pursuant to a 15-year initial term triple-net master lease with two five-year renewal options at an initial lease rate of 8.75% with annual escalators. This transaction was accounted for as an asset acquisition and less than $0.1 million of transaction costs were capitalized. On November 10, 2017, the Company exercised its option to acquire Advanced Diagnostics Hospital East in Houston, Texas for $17.5 million, which was satisfied by applying the $12.5 million aggregate principal amount outstanding on the mortgage note (see discussion below) to the purchase price and $5.0 million in cash consideration. The property is 100% leased pursuant to a 15-year triple net lease with two ten-year renewal options at an initial yield of 9.6% with annual rent escalators. This transaction was accounted for as an asset acquisition and less than $0.1 million of transaction costs were capitalized. 2017 Mortgage Notes Receivable Funding On January 30, 2017, the Company invested $12.5 million through a newly originated interest-only loan at an interest rate of 9.6% and secured by a first mortgage on a licensed general acute care surgical hospital that consists of 23,300 square feet with four operating rooms, two special procedure rooms, four inpatient rooms and four full-size extended recovery rooms. This mortgage note was satisfied on November 10, 2017 when the Company exercised its option to purchase the property as described above under “2017 Real Estate Acquisitions.” On August 1, 2017, the Company funded a $6.7 million mortgage note receivable to a subsidiary of Medistar Corporation, which is secured by land and an existing building in Webster, Texas. Interest accrues at a rate of 10% per annum and is payable upon the maturity date of the loan on April 1, 2018. On October 10, 2017, the Company closed on a construction mortgage note receivable with a maximum principal amount of up to $6.0 million to a wholly owned subsidiary of Sequel Youth and Family Services, LLC (“Sequel”) to fund the construction and development of a replacement psychiatric residential treatment facility for children and youth with neurodevelopmental disorders located in northeast Tennessee. The Company has the option to purchase the facility upon completion of construction, which is expected to occur in the second half of 2018, and concurrently lease the facility to Sequel pursuant to a 15-year triple-net lease with an initial yield of 9.0%. Amounts funded through the construction mortgage note receivable bear interest at a rate of 8.25%, which is funded as additional borrowings under the loan. The balance outstanding under this loan was approximately $1.9 million at December 31, 2017. 2016 Investment Activity Lakeway Hospital Operator Change On September 1, 2016, Baylor Scott & White Health (“BSW Health”) acquired the operations of the Company’s former tenant at Lakeway Hospital. In connection with the closing of this transaction, the Company, through the Lakeway Partnership, simultaneously terminated the lease with the prior tenant and entered into a new triple-net lease with an existing BSW Health hospital entity (the “Baylor Lessee”), which has an initial term of 15 years with two ten-year extension options. The lease is unconditionally guaranteed by Baylor University Medical Center, which is a controlled affiliate of the nonprofit parent corporation Baylor Scott & White Holdings. The initial annual base rent is approximately $12.8 million, payable in equal monthly installments, which is the same as the annual base rent under the lease with the prior tenant. The base rent will increase by 1.75% on the second anniversary of the lease, 2.0% on the third anniversary and 2.5% on each anniversary thereafter. The lease provides that, commencing after completion of the third year of the lease and subject to certain conditions, the Baylor Lessee has the option to purchase Lakeway Hospital at a price equal to the aggregate base rent payable under the lease for the 12-month period following the date of the written notice from the Baylor Lessee divided by (i) 6.5% if written notice is provided after completion of the third lease year and before completion of the tenth lease year (which would result in a purchase price of not less than approximately $203.6 million) or (ii) 7.0% if written notice is provided any time thereafter. Pursuant to the lease, on September 30, 2016, the Company (through the Lakeway Partnership) paid the Baylor Lessee an approximately $2.3 million tenant allowance for the transition of the hospital, which is included in Other assets, net on the consolidated balance sheets at December 31, 2017 and 2016. Under the terms of the lease with the prior tenant, contractual base rent increased ratably during the first six months of 2016 by an aggregate of $3.5 million (representing the difference between the reduced monthly base rent of $0.5 million due for the second and third quarters of 2015 and the stabilized monthly rent of $1.1 million, plus interest on the deferred rent) (the “Deferred Payment”). As part of the lease termination agreement with the prior tenant, the Company agreed to receive $1.5 million in satisfaction of the $1.7 million in the Deferred Payment due as of March 31, 2016, resulting in bad debt expense of $0.2 million. The remaining $1.8 million of the Deferred Payment was not recognized. The Company also wrote off approximately $7.0 million of the straight-line rent receivable associated with the prior tenant’s lease, which was recorded as a reduction to rental income on the Company’s consolidated statements of operations. The noncontrolling interest’s proportionate share of this amount was $3.6 million, which is reflected in the net income attributable to noncontrolling interest on the Company’s consolidated statement of operations for the year ended December 31, 2016. Adjustments to Purchase Price Allocations of 2015 Acquisitions The preliminary purchase price allocations for a skilled nursing facility acquired from Life Generations and an inpatient rehabilitation facility acquired from Vibra Healthcare, both of which were acquired on October 1, 2015, were comprised of $4.6 million in land and $39.9 million in building and improvements. The purchase price allocations were finalized during the first quarter of 2016, resulting in adjustments to the preliminary purchase price allocations to reflect the new information obtained about the facts and circumstances that existed as of the respective acquisition dates that, if known, would have affected the measurement of the amounts recognized as of those dates. The revised allocations for these properties are as follows (dollars in thousands): Skilled Nursing Facility Inpatient Rehabilitation Facility Total Land $ 2,995 $ 991 $ 3,986 Buildings and improvements 11,760 10,235 21,995 Intangible lease assets — 7,946 7,946 Furniture, fixtures, and equipment 347 227 574 Total real estate properties acquired $ 15,102 $ 19,399 $ 34,501 The following table shows the impact of amounts recorded in the consolidated statement of operations for the year ended December 31, 2016 due to the change in the estimates of the purchase price allocations that would have been recorded in the consolidated statement of operations in prior periods had the adjustments to the provisional amounts been recognized as of the acquisition dates (dollars in thousands). Skilled Nursing Facility Inpatient Rehabilitation Facility Total Rental income $ — $ (127 ) $ (127 ) Depreciation and amortization 26 (79 ) (53 ) Net income attributable to common stockholders $ (26 ) $ (48 ) $ (74 ) In June 2016, the Company and Life Generations amended the purchase and sale agreement for the skilled nursing facility to eliminate the $10.0 million earn-out provision. The Company recorded an approximately $0.2 million reduction of depreciation expense on the consolidated statements of operations for the year ended December 31, 2016 for depreciation expense recorded in prior periods associated with the earn-out provision. 2018 Investment Activity On January 8, 2018, the Company closed on a construction mortgage note receivable with a maximum principal amount of up to $19.0 million to Haven Behavioral Healthcare (“Haven”) to fund the purchase and conversion of an existing long-term acute care hospital to a 72-bed inpatient psychiatric hospital in Meridian, Idaho. The loan has a three-year term and an annual interest rate of 10.0%. Upon completion of the planned renovation, the Company has the exclusive right to purchase the property, for a purchase price equal to the outstanding loan balance, in a sale-leaseback transaction with a 15-year triple-net master lease with an initial yield of 9.3%. The balance outstanding under this loan was approximately $7.7 Leasing Operations Minimum cash rental payments due to the Company in future periods under operating leases for the Company’s properties that have non-cancelable terms as of December 31, 2017 are as follows (dollars in thousands): For the year ending December 31: 2018 $ 56,553 2019 57,085 2020 57,750 2021 58,544 2022 59,521 Thereafter 551,255 Total $ 840,708 Concentrations of Credit Risks The following table contains information regarding tenant concentration in the Company’s portfolio, based on the percentage of revenues (rental income and interest on mortgage notes receivable) for the years ended December 31, 2017, 2016 and 2015, related to tenants, or affiliated tenants, that exceed 10% of revenues. % of Revenue for the year ended December 31, 2017 2016 2015 Baylor Scott & White Health 24.1% N/A (1) - GruenePointe Holdings 23.5% 28.9% 13.0% Fundamental Healthcare 15.1% 16.7% 16.4% Life Generations Healthcare 14.1% 17.5% 13.1% Vibra Healthcare 12.9% 15.5% 18.2% LRMC (2) - N/A (1) 34.2% (1) Total revenue is less than 10%. (2) LRMC was the prior tenant at Lakeway Hospital, in which the Company owns a 51% interest through the Lakeway Partnership. The lease with LRMC was terminated on September 1, 2016 and was replaced with a new lease with Baylor Scott & White Health. See “Lakeway Hospital Operator Change” above for further discussion. The following table contains information regarding the geographic concentration of the properties in the Company’s portfolio as of December 31, 2017 and 2016, which includes percentage of rental income for the years ended December 31, 2017 and 2016 (dollars in thousands). Number of properties at December 31, Gross Investment at December 31, % of Total Real Estate Property investments at December 31, % of Rental Income State 2017 2016 2017 2016 2017 2016 For the year ended December 31, 2017 For the year ended December 31, 2016 Texas 17 14 $ 300,206 $ 270,725 53.3% 54.7% 60.5% 57.6% California 7 7 154,726 154,727 27.4% 31.3% 23.8% 28.7% Nevada 4 2 63,624 49,422 11.3% 10.0% 10.5% 9.7% South Carolina 1 1 20,000 20,000 3.5% 4.0% 3.3% 4.0% Indiana 2 - 15,039 - 2.7% - 1.1% - Connecticut 1 - 10,133 - 1.8% - 0.8% - 32 24 $ 563,728 $ 494,874 100.0% 100.0% 100.0% 100.0%

Real Estate Intangibles

Real Estate Intangibles	12 Months Ended
	Dec. 31, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Real Estate Intangibles	Note 4 - Real Estate Intangibles The following is a summary of the carrying amount of real estate intangible assets (dollars in thousands): December 31, 2017 December 31, 2016 Gross Intangibles Accumulated Amortization Net Intangibles Gross Intangibles Accumulated Amortization Net Intangibles Weighted Average Life (Years) as of December 31, 2017 Above-market lease intangible $ 7,636 $ (1,146 ) $ 6,490 $ 7,636 $ (637 ) $ 6,999 12.8 In-place leases 2,406 (1,323 ) 1,083 2,406 (932 ) 1,474 10.5 Leasing commissions 1,294 (560 ) 734 1,294 (397 ) 897 10.1 Legal/marketing fees 51 (28 ) 23 51 (20 ) 31 9.9 Total $ 11,387 $ (3,057 ) $ 8,330 $ 11,387 $ (1,986 ) $ 9,401 12.2 The Company recorded amortization expense related to real estate intangible assets of approximately $1.1 million and $1.2 million for the years ended December 31, 2017 and 2016, respectively. The following table represents expected amortization of existing real estate intangible assets at December 31, 2017 (dollars in thousands): For the year ending December 31: 2018 715 2019 687 2020 687 2021 687 2022 687 Thereafter 4,867 Total $ 8,330

Debt

Debt	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Debt	Note 5 – Debt The table below details the Company’s debt balance at December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 December 31, 2016 Term loan- secured $ 125,000 $ - Revolving credit facility- secured 91,200 144,000 Unamortized deferred financing costs (677 ) - $ 215,523 $ 144,000 On February 10, 2017, the Company entered into a second amended and restated credit agreement, which provides for a $300 million revolving credit facility that matures in February 2021 and a $125 million term loan that matures in February 2022. The revolving credit facility has one 12-month extension option, subject to certain conditions, including the payment of a 0.15% extension fee. The new facility replaced the Company’s prior $300 million secured revolving credit facility, which was scheduled to mature in November 2017. The Company incurred fees associated with the amended and restated credit facility of approximately $2.7 million, of which $1.9 million is associated with the revolving credit facility and $0.8 million is associated with the term loan. Amounts outstanding under the amended credit facility bear interest at LIBOR plus a margin between 1.75% and 3.00% or a base rate plus a margin between 0.75% and 2.00%, in each case depending on the Company’s leverage. The revolving credit facility includes an unused facility fee of 0.25% of the amount of the unused portion of the revolving credit facility if amounts borrowed are equal to or greater than 50.0% of the total commitments or 0.35% if amounts borrowed are less than 50.0% of such commitments. Prior to the February 10, 2017 amendment, amounts outstanding under the facility bore interest at LIBOR plus a margin between 2.75% and 3.75% or a base rate plus a margin between 2.00% and 2.50%, in each case depending on the Company’s leverage. The amended and restated credit agreement includes an accordion feature that allows the total borrowing capacity, including the term loan component, to be increased to up to $700 million, subject to certain conditions, including obtaining additional commitments from lenders. The amount available to borrow under the amended credit facility is limited according to a borrowing base valuation of assets owned by subsidiaries of the Company’s operating partnership. The amended credit facility is secured by a pledge of the Operating Partnership’s equity interests in its subsidiaries that own borrowing base assets, which is substantially all of our assets. The amended credit agreement includes the ability to convert to an unsecured credit facility when certain conditions are met, including the Company having a minimum gross asset value of $1.0 billion, a minimum borrowing base of $500 million, less than 50% leverage and continued compliance with the covenants under the credit agreement. At December 31, 2017 and 2016, the weighted average interest rate under the revolver was 3.6% and 2.7%, respectively. At December 31, 2017 the weighted average interest rate under the term loan, including the effect of the Company’s interest rate swap agreements, was 3.8%. Total costs related to the revolving credit facility at December 31, 2017 were $3.4 million, gross ($2.7 million, net). These costs are included in Other assets, net on the consolidated balance sheet at December 31, 2017 and will be amortized to interest expense through February 2021, the maturity date of the revolving credit facility. The total amount of deferred financing costs associated with the term loan at December 31, 2017 was $0.8 million, gross ($0.7 million, net). These costs are netted against the balance outstanding under the term loan on the Company’s consolidated balance sheet and will be amortized to interest expense through February 2022, the maturity date of the term loan. Total deferred financing costs included in Other assets, net on the consolidated balance sheet at December 31, 2016 were $2.5 million gross ($1.5 million, net). The Company recognized amortization expense of deferred financing costs, included in interest expense on the consolidated statements of operations, of $1.1 million, $2.5 million, and $2.1 million for the years ended December 31, 2017, 2016 and 2015, respectively. The amortization expense for the years ended December 31, 2016 and 2015 includes approximately $0.3 million and $0.1 million, respectively, of unamortized deferred financing costs associated with credit facility amendments. Covenants The amended credit agreement contains customary financial and operating covenants, including covenants relating to the Company’s total leverage ratio, fixed charge coverage ratio, tangible net worth, maximum distribution/payout ratio and restrictions on recourse debt, secured debt and certain investments. The credit agreement also contains customary events of default, in certain cases subject to customary cure periods, including among others, nonpayment of principal or interest, material breach of representations and warranties and failure to comply with covenants. Any event of default, if not cured or waived, could result in the acceleration of any outstanding indebtedness under the credit agreement. The Company was in compliance with all financial covenants as of December 31, 2017. Interest Rate Swap Agreements To mitigate exposure to interest rate risk, on February 10, 2017, the Company entered into interest rate swap agreements, effective April 10, 2017, on the full $125 million on the term loan to fix the variable LIBOR interest rate at 1.84%, plus the LIBOR spread under the amended credit agreement, which was 2.00% at February 21, 2018. The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. Amounts reported in accumulated other comprehensive income related to these interest rate swaps will be reclassified to interest expense as interest payments are made on the Company’s variable-rate debt. During the next 12 months, the Company estimates that an additional $0.1 million will be reclassified from other comprehensive income as an increase to interest expense. The fair value of the Company’s derivative financial instruments at December 31, 2017 was an asset of $1.2 million and was included in Other assets, net The table below details the location in the consolidated financial statements of the gain recognized on interest rate derivatives designated as cash flow hedges for the year ended December 31, 2017 (dollars in thousands). The Company did not have any interest rate derivatives for the year ended December 31, 2016. Year ended December 31, 2017 Amount of gain recognized in other comprehensive income $ 636 Amount of loss reclassified from accumulated other comprehensive income into interest expense (611 ) Total other comprehensive income $ 1,247 As of December 31, 2017, the Company did not have any derivatives in a net liability position including accrued interest but excluding any adjustments for nonperformance risk.

Other Assets

Other Assets	12 Months Ended
	Dec. 31, 2017
Other Assets [Abstract]
Other Assets	Note 6 - Other Assets Items included in Other assets, net on the Company’s consolidated balance sheets as of December 31, 2017 and 2016 are detailed in the table below (dollars in thousands): December 31, 2017 December 31, 2016 Straight-line rent receivable $ 12,389 $ 6,470 Tenant allowances and lease incentives, net 8,463 8,624 Deferred financing costs, net 2,685 1,465 Prepaid assets and deposits 2,022 3,174 Interest rate swap derivative asset 1,247 - Pre-acquisition costs 872 883 Interest and accounts receivable 548 561 Capitalized pre-offering costs 297 - Corporate property, net 139 206 Surety bond deposit - 9,412 Note receivable - 450 Restricted cash - 262 $ 28,662 $ 31,507 In September 2016, the prior tenant at Lakeway Hospital deposited approximately $9.4 million with the Company as collateral for a surety bond that is included in Other assets, net on the consolidated balance sheet at December 31, 2016. The Company also recorded a corresponding liability related to this deposit included in Accounts payable and accrued liabilities on the consolidated balance sheet at December 31, 2016. In August 2017, the Company released the $9.4 million, including accrued interest, after a favorable final judgment was rendered with no risk of further appeals in a litigation matter, which resulted in the elimination of the $9.4 million from both Other assets, net and Accounts payable and accrued liabilities on the consolidated balance sheet at December 31, 2017. The Company recognized a surety bond fee of approximately $0.2 million in interest and other income on the consolidated statement of operations for the year ended December 31, 2016. Tenant allowances and lease incentives are amortized against revenue on a straight-line basis over the lease term.

Incentive Plan

Incentive Plan	12 Months Ended
	Dec. 31, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Incentive Plan	Note 7 - Incentive Plan The Company’s Amended and Restated 2014 Equity Incentive Plan (the “Plan”) provides for the grant of stock options, share awards (including restricted common stock and restricted stock units), stock appreciation rights, dividend equivalent rights, performance awards, annual incentive cash awards and other equity-based awards, including Long Term Incentive Plan (“LTIP”) units, which are convertible on a one-for-one basis into OP units. As of December 31, 2017, the Plan had 3,356,723 shares authorized for issuance with 1,973,982 shares available for future issuance, subject to certain adjustments set forth in the Plan. Restricted Stock Awards of restricted stock are awards of the Company’s common stock that are subject to restrictions on transferability and other restrictions as established by the Company’s compensation committee on the date of grant that are generally subject to forfeiture if employment terminates prior to vesting. Upon vesting, all restrictions would lapse. Except to the extent restricted under the award agreement, a participant awarded restricted stock will have all of the rights of a stockholder as to those shares, including, without limitation, the right to vote and the right to receive dividends on the shares. The awards generally cliff vest over three years or vest ratably over three years from the date of grant. The value of the awards is determined based on the market value of the Company’s common stock on the date of grant. The Company expenses the cost of restricted stock ratably over the vesting period. Restricted Stock Units The Company’s restricted stock unit (“RSU”) awards represent the right to receive unrestricted shares of common stock based on the achievement of Company performance objectives as determined by the Company’s compensation committee. Grants of RSUs prior to 2016 generally entitle recipients to shares of common stock equal to 0% up to 100% of the number of units granted at the vesting date, based on two independent criteria measured over a three-year period – (i) the Company’s absolute total stockholder return (“TSR”) and (ii) Company’s TSR relative to the MSCI US REIT Index (symbol: RMS). Grants of RSUs during and subsequent to 2016 generally entitle recipients to shares of common stock equal to 0% up to 150% of the number of units granted at the vesting date, based on four independent criteria measured over a three-year period – (i) the Company’s growth in gross real estate investments, (ii) the Company’s growth in Adjusted Funds From Operations (“AFFO”) per share, (iii) the Company’s absolute TSR and (iv) the Company’s TSR relative to the FTSE NAREIT Equity Healthcare REIT Index. RSUs are not eligible to vote or subject to receive dividend equivalents prior to vesting. Dividend equivalents are credited to the recipient and are paid only to the extent the applicable criteria are met, and the RSUs vest and the related common stock is issued. The grant date fair value of RSUs subject to vesting based on the Company’s absolute TSR and TSR relative to a REIT index is estimated using a Monte Carlo simulation that utilizes inputs such as expected future volatility of the Company’s common stock, volatilities of certain peer companies included in the applicable indexes upon which the relative TSR performance is measured, estimated risk-free interest rate and the expected service periods of three years. The estimated compensation expense for these RSUs was derived using a risk free interest rate ranging from 1.00% to 1.97%, volatility of the Company’s common stock ranging from 23.4% to 42.4%, volatility of the benchmark REIT Index from 13.6% to 19.2% and an expected service period of three years. The grant date fair value of RSUs subject to vesting based on the Company’s growth in gross real estate investments and the Company’s growth in AFFO per share is determined based on the market value of the Company’s common stock on the date of grant. The Company assesses the probability of achievement of the growth in gross real estate investments and growth in AFFO per share and records expense for the awards based on the probable achievement of these metrics. The Company recognizes the cost of restricted stock units ratably over the vesting period. The following table summarizes the stock-based award activity for the years ended December 31, 2017, 2016 and 2015: Restricted Stock Awards Weighted-Average Grant Date Fair Value Per Restricted Stock Award RSU Awards Weighted-Average Grant Date Fair Value Per RSU Outstanding as of December 31, 2014 129,555 $ 15.00 158,927 $ 6.53 Granted 158,396 15.86 200,098 9.00 Vested (7,871 ) 15.00 - - Forfeited - - - - Outstanding as of December 31, 2015 280,080 $ 15.49 359,025 $ 7.91 Granted 88,915 11.83 216,750 9.50 Vested (16,202 ) 15.16 - - Forfeited - - - - Outstanding as of December 31, 2016 352,793 $ 14.57 575,775 $ 8.51 Granted 115,030 11.18 243,750 9.98 Vested (148,636 ) 14.39 - - Cancelled (5,368 ) 15.00 - - Forfeited - - (158,927 ) 6.53 Outstanding as of December 31, 2017 313,819 $ 13.42 660,598 $ 9.52 During the year ended December 31, 2017, 148,636 restricted shares of common stock granted to certain employees of the Company and non-employee directors vested. Of the restricted shares that vested, 20,229 shares were surrendered by employees to satisfy their tax obligations. All cancelled shares for the year ended December 31, 2017 relate to non-employee director compensation and are described in Note 9 under the heading “Arrangements with BlueMountain.” RSUs are included in the preceding tables as if the participants earn shares equal to 100% of the units granted. In addition, 158,927 RSUs previously granted to employees did not vest because the criteria for vesting were not achieved. All of the shares that vested during the years ended December 31, 2016 and 2015 related to grants of restricted shares to non-employee directors. The table below summarizes compensation expense related to share-based payments, included in general and administrative expenses, for the years ended December 31, 2017, 2016 and 2015 (in thousands): 2017 2016 2015 Restricted stock $ 1,892 $ 1,605 $ 1,192 Restricted stock units 1,495 950 603 Stock-based compensation $ 3,387 $ 2,555 $ 1,795 The remaining unrecognized cost from stock-based awards at December 31, 2017 was approximately $5.9 million and will be recognized over a weighted-average period of 2.2 years. 2018 Grants During 2018, the Company has granted 46,788 restricted shares of common stock to its non-employee directors as part of the annual director compensation, which will vest ratably on each of the first three anniversaries of the date of grant, subject to the director’s continued service on the Company’s board of directors through such dates. The total value of these awards is calculated to be $0.5 million.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2017
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 8 - Commitments and Contingencies Commitments In April 2017, the Company agreed to make available an aggregate amount of up to $11.0 million for the construction and equipping of certain new s 1.1 As discussed further in Note 3, in October 2017 the Company closed on a construction mortgage note receivable with a maximum principal amount of up to $6.0 million to a wholly owned subsidiary of Sequel to fund the construction and development of a replacement psychiatric residential treatment facility As of February 21, 2018, approximately $2.3 As of December 31, 2017, the Company was obligated under operating lease agreements consisting primarily of the Company’s corporate office lease, which expires in 2020, and a ground lease related to the medical office building in the Company’s portfolio, which expires in 2081. Annual base rent on the corporate office lease increases approximately 3.0% annually. The Company’s ground lease rent increases 2.0% annually and is included in property-related expense. Rent expense relating to the operating leases, including straight-line rent, was approximately $0.5 million for each of the years ended December 31, 2017, 2016 and 2015. The Company’s future minimum lease payments for its operating leases as of December 31, 2017 were as follows (dollars in thousands): For the year ending: 2018 $ 342 2019 351 2020 203 2021 176 2022 179 Thereafter 19,800 Total $ 21,051 Contingencies From time to time, the Company or its properties may be subject to claims and suits in the ordinary course of business. The Company’s lessees and borrowers have indemnified, and are obligated to continue to indemnify, the Company against all liabilities arising from the operations of the properties and are further obligated to indemnify it against environmental or title problems affecting the real estate underlying such facilities. The Company is not aware of any pending or threatened litigation that, if resolved against the Company, would have a material adverse effect on its consolidated financial condition, results of operations or cash flows. Texas SNF Portfolio Contingent Consideration and Additional Rent The Company’s 2015 purchase and leaseback of the Texas SNF Portfolio included $12.0 million of refundable contingent consideration, $3.0 million of which will become fully earned and non-forfeitable on January 1 of each year through 2019, subject to the tenants’ compliance with certain financial covenants under the master lease agreement and other provisions in the purchase and sale agreement on such dates. If any of the refundable contingent consideration has not been earned by January 1, 2019, the tenants will have until January 1, 2020 to achieve compliance with all of the applicable financial covenants and earn such remaining refundable contingent consideration. If the tenants have not achieved such compliance by January 1, 2020, the seller must repay to the Company any refundable contingent consideration that has not been earned, together with interest, at a rate of 3.0% per annum, from the closing date of the acquisition to January 1, 2020. The annual rent will not decrease in the event that seller/lessee is required to repay any portion of the refundable contingent consideration. As of February 21, 2018, none of the $12.0 million of refundable contingent consideration had been earned. In addition to the base rent, commencing in the second year of the lease, the master lease provides for additional rent equal to 20% of the amount by which the aggregate gross patient care revenues (i.e., gross revenues less supplemental management fees) of four of the facilities ( Songbird Lodge, Graham Oaks, River City Care Center and Kerens Care Center), totaling

Equity

Equity	12 Months Ended
	Dec. 31, 2017
Equity [Abstract]
Equity	Note 9 - Equity Preferred Stock Series B On March 11, 2015 and April 1, 2015, the Company sold an aggregate of 125,000 shares of the Company’s 7.875% Series B Redeemable Cumulative Preferred Stock (“Series B Preferred Stock”), with a liquidation preference of $1,000 per share, to Carter/Validus Operating Partnership, L.P., for gross proceeds of $125 million. Dividends on the Series B Preferred Stock were paid monthly at an annual rate of 7.875% of the $1,000 liquidation preference plus any accumulated and unpaid dividends. On October 4, 2016, upon completion of the IPO, the Company redeemed the Series B Preferred Stock for $131.3 million, based on the $1,000 liquidation preference and a special redemption dividend equal to 5% of the liquidation preference, plus accrued and unpaid dividends of $0.9 million from September 1, 2016 through the redemption date. Common Stock Dividends During 2017 and 2016, the Company declared common stock dividends aggregating $0.84 and $0.63 per share, respectively. The following table depicts common stock dividends related to 2016 and 2017. Quarter Quarterly Dividend Date of Declaration Date of Record Date Paid 1st Quarter 2016 $ 0.21 April 28, 2016 May 10, 2016 May 19, 2016 2nd Quarter 2016 $ 0.21 August 3, 2016 August 17, 2016 August 30, 2016 3rd Quarter 2016 $ 0.21 September 15, 2016 September 23, 2016 October 4, 2016 4th Quarter 2016 $ 0.21 January 3, 2017 January 17, 2017 January 31, 2017 1st Quarter 2017 $ 0.21 May 3, 2017 May 17, 2017 May 31, 2017 2nd Quarter 2017 $ 0.21 August 2, 2017 August 16, 2017 August 30, 2017 3rd Quarter 2017 $ 0.21 November 1, 2017 November 15, 2017 November 29, 2017 On February 7, 2018, the Company’s board of directors declared a cash dividend of $0.21 per share for the period from October 1, 2017 to December 31, 2017. The dividend will be paid on March 5, 2018 to stockholders of record on February 19, 2018. Arrangements with BlueMountain In connection with BlueMountain Capital Management, LLC’s (“BlueMountain”) purchase of shares of the Company’s common stock in a private placement in July 2014, the Company entered into the BlueMountain Rights Agreement with BlueMountain, which currently allows for BlueMountain to designate two directors on the Company’s board of directors. Pursuant to BlueMountain’s internal policies, all compensation payable to the BlueMountain director designees who are employees of BlueMountain is paid or transferred to BlueMountain, including an aggregate of 16,108 restricted shares of common stock granted to the BlueMountain director designees in 2014 and 2015. Due to adverse tax implications for BlueMountain related to its receipt of restricted stock, the Company and BlueMountain agreed to the following, which occurred on March 28, 2017: (i) BlueMountain forfeited 10,740 vested shares of common stock previously granted to the BlueMountain director designees; (ii) the Company repurchased and cancelled the remaining 5,368 unvested restricted shares of common stock held by BlueMountain for approximately $50,000; and (iii) BlueMountain repaid to the Company approximately $29,000, which represented all dividends previously paid on the 16,108 restricted shares previously granted to the BlueMountain director designees. Noncontrolling Interest The Company owns Lakeway Hospital through a consolidated partnership, which, based on a total equity cash contribution of $2.0 million, is owned 51% by the Company and 49% by an entity that is owned indirectly by a physicians group and a non-physician investor. The partnership was formed on March 20, 2015. The Company’s equity contribution to the Lakeway Partnership was $1.0 million, and the Company’s transfer of the original $50.0 million note and $23.0 million of cash to the Lakeway Partnership is structured as an intercompany $73.0 million loan (the “Lakeway Intercompany Mortgage Loan”) to the Lakeway Partnership that is secured by a first mortgage lien on Lakeway Hospital. The Lakeway Intercompany Mortgage Loan has a ten-year term and requires payments of principal and interest at a rate of 8.0% per annum based on a 25-year amortization schedule. The interest rate on the Lakeway Intercompany Mortgage Loan will reset after five years based upon then-current market rates. At December 31, 2017 and 2016, the Lakeway Intercompany Mortgage Loan had an outstanding principal balance of $70.7 million and $71.8 million, respectively.

Distributions (unaudited)

Distributions (unaudited)	12 Months Ended
	Dec. 31, 2017
Distributions [Abstract]
Distributions	Note 10 – Distributions (unaudited) The Company must distribute at least 90% of our taxable income in order to continue to maintain our qualification as a REIT. This distribution requirement can be satisfied by current year distributions or, to a certain extent, by distributions in the following year. For federal income tax purposes, distributions to stockholders are treated as ordinary income, return of capital or a combination thereof. The federal income tax classification of the per share common stock distributions are as follows: Year Ended December 31, 2017 2016 2015 Ordinary taxable distributions $ 0.66 $ 0.22 $ 0.68 Return of capital 0.18 0.70 - Total $ 0.84 $ 0.92 $ 0.68 Pursuant to Section 857(b)(9) of the Code, dividend distributions made to stockholders on January 14, 2016 with a record date of December 31, 2015 are deemed to have been received by stockholders of record on December 31, 2015. Based on earnings and profits for the taxable year 2015, the Company’s aggregate cash distributions exceeded its earnings and profits for the taxable year 2015. Therefore, a portion of the January 14, 2016 cash distribution was treated as a 2016 distribution for federal income tax purposes and were included as taxable income to the recipient in 2016.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2017
Earnings Per Share [Abstract]
Earnings Per Share	Note 11 - Earnings per Share The Company applies the two-class method for determining earnings per common share as its outstanding restricted common stock with non-forfeitable dividend rights are considered participating securities. The following table sets forth the computation of earnings per common share for the years ended December 31, 2017, 2016 and 2015 (amounts in thousands, except per share amounts): Numerator: For the year ended December 31, 2017 For the year ended December 31, 2016 For the year ended December 31, 2015 Net income $ 24,152 $ 11,316 $ 16,730 Less: Net income attributable to noncontrolling interest (3,730 ) (266 ) (4,029 ) Less: Dividends on preferred shares - (13,760 ) (7,835 ) Net income (loss) attributable to common stockholders 20,422 (2,710 ) 4,866 Less: Allocation to participating securities (265 ) (182 ) (216 ) Net income (loss) available to common stockholders $ 20,157 $ (2,892 ) $ 4,650 Denominator Basic weighted-average common shares 31,447 15,838 10,948 Dilutive potential common shares 37 - - Diluted weighted-average common shares 31,484 15,838 10,948 Earnings (loss) per common share- basic and diluted $ 0.64 $ (0.18 ) $ 0.42 The effects of RSUs outstanding were excluded from the calculation of diluted earnings (loss) per common share for the years ended December 31, 2016 and December 31, 2015 because their effects were not dilutive.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Note 12 - Fair Value of Financial Instruments Financial Assets and Liabilities Measured at Fair Value The Company’s financial assets and liabilities measured at fair value on a recurring basis currently include derivative financial instruments. These derivative financial instruments are valued in the market using discounted cash flow techniques. These techniques incorporate Level 1 and Level 2 inputs. The market inputs are utilized in the discounted cash flow calculation considering the instrument’s term, notional amount, discount rate and credit risk. Significant inputs to the derivative valuation model for interest rate swaps are observable in active markets and are classified as Level 2 in the hierarchy. The fair value of the Company’s interest rate swaps asset, which is included in Other assets, net on the consolidated balance sheet, was $1.2 million at December 31, 2017. The Company did not have any financial assets or liabilities measured at fair value at December 31, 2016. See Note 5 for further discussion regarding the Company’s interest rate swap agreements. Financial Assets and Liabilities Not Carried at Fair Value The carrying amounts of cash and cash equivalents, restricted cash, receivables and payables are reasonable estimates of their fair value as of December 31, 2017 and 2016 due to their short-term nature. The fair value of the Company’s mortgage and other notes receivable as of December 31, 2017 and 2016 is estimated by using Level 2 inputs such as discounting the estimated future cash flows using current market rates for similar loans that would be made to borrowers with similar credit ratings and for the same remaining maturities. At December 31, 2017 and 2016, the Company’s indebtedness was comprised of borrowings under the credit facility that bear interest at LIBOR plus a margin (Level 2). The fair value of borrowings under the credit facility is considered to be equivalent to their carrying values as the debt is at variable rates currently available and resets on a monthly basis. Fair value estimates are made at a specific point in time, are subjective in nature and involve uncertainties and matters of significant judgment. Settlement at such fair value amounts may not be possible. As of December 31, 2017, the fair value of the Company’s $18.6 million mortgage notes receivable was estimated to be approximately $18.7 million. As of December 31, 2016, the fair value of the Company’s $10.0 million mortgage note receivable was estimated to be approximately $10.0 million.

Selected Interim Financial Data

Selected Interim Financial Data (unaudited)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Selected Interim Financial Data (unaudited)	Note 13- Selected Interim Financial Data (unaudited) The following is a summary of the unaudited quarterly financial information for the years ended December 31, 2017 and 2016 (amounts in thousands, except per share data): Quarter ended March 31 June 30 September 30 December 31 2017 Revenues $ 14,282 $ 14,825 $ 15,766 $ 16,232 Interest expense (1,515 ) (1,808 ) (2,117 ) (2,261 ) Net income 5,475 5,732 6,266 6,679 Net income attributable to noncontrolling interest (944 ) (936 ) (941 ) (909 ) Net income attributable to common stockholders $ 4,531 $ 4,796 $ 5,325 $ 5,770 Net income attributable to common stockholders per share: Basic and diluted $ 0.14 $ 0.15 $ 0.17 $ 0.18 Quarter ended March 31 June 30 September 30 December 31 2016 Revenues $ 14,848 $ 6,593 $ 13,845 $ 14,010 Interest expense (3,125 ) (3,226 ) (2,792 ) (1,740 ) Net income (loss) 4,851 (3,645 ) 4,734 5,376 Preferred stock dividends (2,465 ) (2,465 ) (2,464 ) (6,366 ) Net (income) loss attributable to noncontrolling interest (1,355 ) 2,841 (821 ) (931 ) Net income (loss) attributable to common stockholders $ 1,031 $ (3,269 ) $ 1,449 $ (1,921 ) Net income (loss) attributable to common stockholders per share: Basic and diluted $ 0.09 $ (0.30 ) $ 0.12 $ (0.06 ) The sum of the basic and diluted earnings per common share for the four quarters in the periods presented may differ from the annual earnings per common share calculation due to the required method of computing the weighted average number of common shares in the respective periods.

Schedule III Real Estate and Ac

Schedule III Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2017
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Schedule III Real Estate and Accumulated Depreciation	Schedule III Real Estate and Accumulated Depreciation (dollars in thousands) Initial Cost to Company Gross Amount at Which Carried at Close of Period Property/Portfolio Name Location Number of Properties Type of Property (3) Encumbrances Land Building and improvements and intangible lease assets Furniture, fixtures, and equipment Cost Capitalized Subsequent to Acquisition Land Building and improvements and intangible lease assets Furniture, fixtures, and equipment Total (1) Accumulated Depreciation (1) (2) Date of Construction Date Acquired Texas SNF Portfolio TX 10 SNF $ - $ 4,325 $ 140,815 $ - $ 2 $ 4,325 $ 140,817 $ - $ 145,142 $ (10,646 ) 1963-2013 2015 Life Generations Portfolio CA 6 SNF/ALF - 18,338 75,592 2,748 18 18,341 75,607 2,748 96,696 (8,958 ) 1966-1992 2015 Lakeway Hospital TX 1 ACH - 5,181 69,875 - - 5,181 69,875 - 75,056 (4,424 ) 2012 2015 Kentfield Rehabilitation & Specialty Hospital CA 1 LTACH - 6,204 51,826 - - 6,204 51,826 - 58,030 (5,031 ) 1962 2014 Mountain's Edge Hospital NV 1 ACH - 2,296 27,116 - 635 2,296 27,751 - 30,047 (1,689 ) 2015 2015 AAC Portfolio TX, NV 4 BH - 2,026 23,021 - - 2,026 23,021 - 25,047 (365 ) 1980-2001 2017 Horizon Specialty Hospital of Henderson NV 1 LTACH - 733 19,277 - - 733 19,277 - 20,010 (1,838 ) 2012 2014 Physical Rehabilitation and Wellness Center of Spartanburg SC 1 SNF - 170 19,830 - - 170 19,830 - 20,000 (1,815 ) 1989 2014 Vibra Rehabilitation Hospital of Amarillo TX 1 IRF - 991 18,181 227 - 991 18,181 227 19,399 (2,121 ) 1990 2015 Advanced Diagnostics Hospital East TX 1 ACH - 863 16,668 - - 863 16,668 - 17,531 (61 ) 1998 2017 Mira Vista Court TX 1 SNF - 1,343 14,657 - - 1,343 14,657 - 16,000 (1,319 ) 2013 2015 North Brownsville Medical Plaza TX 1 MOB - - 15,128 - 470 - 15,592 6 15,598 (3,049 ) 2007 2014 Magnolia Portfolio IN 2 SNF - 217 14,265 557 - 217 14,265 557 15,039 (348 ) 1983-1986 2017 Woodlake at Tolland Nursing and Rehabilitation CT 1 SNF - 490 9,643 - - 490 9,643 - 10,133 (320 ) 1992 2017 Total $ - $ 43,177 $ 515,894 $ 3,532 $ 1,125 $ 43,180 $ 517,010 $ 3,538 $ 563,728 $ (41,984 ) Reference footnotes on the next page. (1) The changes in total real estate and accumulated depreciation for the years ended December 31, 2017, 2016 and 2015 are as follows: For the year ended December 31, 2017 For the year ended December 31, 2016 For the year ended December 31, 2015 Cost Balance at beginning of period $ 494,874 $ 504,853 $ 113,168 Acquisitions 55,250 - 323,685 Capitalized costs 1,104 21 - Foreclosure of mortgage note - - 50,000 Conversion of mortgage note 12,500 - 18,000 Elimination of earn-out payment - (10,000 ) - Balance at end of period $ 563,728 $ 494,874 $ 504,853 Accumulated Depreciation Balance at beginning of period $ 26,052 $ 11,172 $ 1,268 Depreciation 15,932 14,880 9,904 Balance at end of period $ 41,984 $ 26,052 $ 11,172 The unaudited aggregate net tax value of real estate assets for federal income tax purposes as of December 31, 2017 is estimated to be $529 million. (2) The cost of building and improvements is depreciated on a straight-line basis over the estimated useful lives of the buildings and improvements, ranging primarily from 2 to 50 years. The cost of intangible lease assets is depreciated on a straight-line basis over the initial term of the related leases, ranging primarily from 2.7 to 15 years. The cost of furniture, fixtures and equipment are depreciated on a straight-line basis over the estimated useful lives of the furniture, fixtures and equipment, ranging primarily from 5 to 14 years. See Note 2 to the consolidated financial statements for information on useful lives used for depreciation and amortization. (3) LTACH -- long-term acute care hospital; SNF -- skilled nursing facility; MOB -- medical office building; IRF -- inpatient rehabilitation facility; ACH -- acute care hospital; ALF -- assisted living facility; BH – behavioral health facility.

Schedule IV Mortgage Loans Rece

Schedule IV Mortgage Loans Receivable on Real Estate	12 Months Ended
	Dec. 31, 2017
Mortgage Loans On Real Estate [Abstract]
Schedule IV Mortgage Loans Receivable on Real Estate	Schedule IV Mortgage Loans Receivable on Real Estate (dollars in thousands) Description Interest Rate Final Maturity Date Periodic Payment Terms Prior Liens Face Amount of Mortgages Carrying Amount of Mortgages (4) Principal Amount of Loans Subject to Delinquent Principal or Interest First mortgage relating to 1 property in: Springfield, Massachusetts -- rehabilitation hospital 9.00 % 7/31/2034 (1) - $ 10,000 $ 10,000 - Webster, Texas -- integrated medical facility 10.00 % 4/1/2018 (2) - 6,700 6,700 - Andersonville, Tennessee -- psychiatric residential treatment facility 8.25 % 12/31/2018 (3) - 1,935 1,935 - $ 18,635 $ 18,635 (1) Following an initial interest-only five year term, the Springfield, Massachusetts loan will automatically convert to a 15-year amortizing loan requiring payments of principal and interest unless prepaid. The Springfield, Massachusetts loan may be prepaid during the initial five-year term only if Vibra Healthcare, LLC or Vibra Healthcare II, LLC, or one of their respective affiliates, enters into a sale-leaseback transaction with the Company equal to or exceeding $25.0 million in value. (2) Interest accrues monthly on the Webster, Texas loan and is payable on the Maturity Date (3) The Andersonville, Tennessee loan is a construction mortgage loan of up to $6.0 million. Interest accrues monthly and is added to the principal of the loan. Interest is payable on the Maturity Date. (4) Carrying amount of mortgages represents the contractual amount due under the mortgage note as of the date of this Schedule IV and excludes any other fees or costs associated with the mortgage notes and their origination. The aggregate cost for federal income tax purposes as of December 31, 2017 is estimated to be $18.6 million. Changes in mortgage loans for the periods ended December 31, 2017, 2016 and 2015 are summarized as follows: For the year ended December 31, 2017 For the year ended December 31, 2016 For the year ended December 31, 2015 Balance at beginning of period $ 10,000 $ 10,000 $ 78,000 Additions during year: New mortgage loans 21,135 (5 ) - - 21,135 - - Deductions during year: Collection of principal - - - Foreclosure of mortgage note - - (50,000 ) (6) Conversion to fee simple ownership (12,500 ) (5 ) - (18,000 ) (7) (12,500 ) - (68,000 ) Balance at end of period $ 18,635 $ 10,000 $ 10,000 (5) On January 30, 2017, the Company invested $12.5 million through a newly originated interest-only loan secured by a first mortgage on a licensed general acute care surgical hospital. On November 10, 2017, the Company completed the acquisition of Advanced Diagnostics Hospital East for a purchase price of $17.5 million, pursuant to the exercise of its exclusive right to purchase the property contained in the Company's $12.5 million mortgage note receivable. The $12.5 million in principal outstanding on the mortgage note receivable was applied to the purchase price, and the Company paid an additional $5.0 million in cash in satisfaction of the purchase price. (6) On February 3, 2015, the Company acquired an acute care hospital in Lakeway, Texas ("Lakeway Hospital"), through a negotiated, non-judicial foreclosure and payment of an additional $25.0 million in cash consideration, for a total investment of $75.0 million. The Company originally acquired a mortgage note receivable for $50.0 million on December 29, 2014, which had an outstanding principal balance of approximately $163.9 million and was secured by a first mortgage lien on Lakeway Hospital. The operator of the facility defaulted on debt service payments under the note in 2013, and the U.S. Department of Housing and Urban Development held an auction in December 2014 through which the Company acquired the mortgage note. (7) On October 1, 2015, the Company completed the acquisition of Vibra Rehabilitation of Amarillo for a purchase price of $19.4 million, pursuant to the exercise of its exclusive right to purchase the property contained in the Company's $18.0 million mortgage note receivable. The $18.0 million in principal outstanding on the mortgage note receivable was applied to the purchase price.

Accounting Policies and Relat23

Accounting Policies and Related Matters (Policies)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates : The preparation of the consolidated financial statements in accordance 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 as of the date of the consolidated financial statements and the amounts of revenue and expense reported in the period. Significant estimates are made for the valuation of real estate and any related intangibles and fair value assessments with respect to purchase price allocations. Actual results may differ from those estimates.
Principles of Consolidation	Principles of Consolidation : The consolidated financial statements include the accounts of the Company’s wholly owned subsidiaries and subsidiaries in which the Company has a controlling interest. All material intercompany transactions and balances have been eliminated in consolidation. There are no material differences between the Company and the Operating Par tnership as of December 31, 2017.
Noncontrolling Interest	Noncontrolling Interest : The portion of equity not owned by the Company in entities controlled by the Company, and thus consolidated, is presented as noncontrolling interest and classified as a component of consolidated equity, separate from total stockholders’ equity on the Company’s consolidated balance sheets. The amount recorded will be based on the noncontrolling interest holder’s initial investment in the consolidated entity, adjusted to reflect the noncontrolling interest holder’s share of earnings or losses in the consolidated entity and any distributions received or additional contributions made by the noncontrolling interest holder. The earnings or losses from the entity attributable to noncontrolling interests are reflected in “net income attributable to noncontrolling interest” in the consolidated statements of operations.
Segment Reporting	Segment Reporting : The Company owns, acquires and finances healthcare-related properties. The Company is managed as one reporting unit, rather than multiple reporting units, for internal reporting purposes and for internal decision-making. Therefore, the Company discloses its operating results in a single reportable segment.
Cash and Cash Equivalents	Cash and Cash Equivalents : Cash and cash equivalents consist of highly liquid investments with original maturities of three months or less. The majority of the Company’s cash and cash equivalents are held at major commercial banks which at times may exceed the Federal Deposit Insurance Corporation limit. The Company has not experienced any losses to date on invested cash.
Restricted Cash	Restricted Cash : Restricted cash consists of amounts funded by tenants and held by the Company for payment of costs and expenses associated with capital improvements, repairs and replacements to be performed at certain of the Company’s fac ilities. As of December 31, 2016, the restricted cash balance was approximately $0.3 million and is included in Other Assets on the Company’s consolidated balance sheets. The Company did not have a restricted cash balance at December 31, 2017.
Revenue Recognition	Revenue Recognition: Leases of Real Estate Properties At the inception of a new lease arrangement, including new leases that arise from amendments, the Company assesses the terms and conditions to determine the proper lease classification. Currently, all of the Company’s lease arrangements are classified as operating leases. Rental revenue for operating leases is recognized on a straight-line basis over the lease term when collectability is reasonably assured and the tenant has taken possession or controls the physical use of a leased asset. If the lease provides for tenant improvements, the Company determines whether the tenant improvements, for accounting purposes, are owned by the tenant or by the Company. When the Company is the owner of the tenant improvements, the tenant is not considered to have taken physical possession or have control of the physical leased asset until the tenant improvements are substantially completed. When the tenant is the owner of the tenant improvements, any tenant improvement allowance funded is treated as a lease incentive and amortized as a reduction of revenue over the lease term. The determination of ownership of the tenant improvements is subject to significant judgment. If the Company’s assessment of the owner of the tenant improvements for accounting purposes were different, the timing and amount of revenue recognized would be impacted. The Company maintains an allowance for doubtful accounts, including an allowance for operating lease straight-line rent receivables, for estimated losses resulting from tenant defaults or the inability of tenants to make contractual rent and tenant recovery payments. The Company monitors the liquidity and creditworthiness of tenants and operators on a continuous basis. This evaluation considers industry and economic conditions, property performance, credit enhancements and other factors. For straight-line rent amounts, the Company’s assessment is based on income recoverable over the term of the lease. The Company exercises judgment in establishing allowances and considers payment history and current credit status in developing these estimates. These estimates may differ from actual results, which could be material to the consolidated financial statements. At December 31, 2017 and 2016, the Company had no allowance for doubtful accounts. The Company’s leases are generally “triple-net” leases with terms requiring operating expenses associated with the Company’s facilities, such as taxes, insurance and utilities, to be paid directly by the Company’s tenants. Failure by a tenant to pay such expenses, or to pay late, would result in a violation of the lease agreement, which could lead to an event of default if not cured timely. Leases in the medical office building owned by the Company require tenants to make estimated payments to the Company to cover their proportional share of operating expenses, including, but not limited to, real estate taxes, property insurance, routine maintenance and repairs, utilities and property management expenses. The Company collects these estimated expenses and is reimbursed by tenants for any actual expense in excess of estimates or reimburses tenants if collected estimates exceed actual operating results. The reimbursements are recorded in rental income as operating expense recoveries, and the expenses are recorded in property-related expenses, as the Company is generally the primary obligor with respect to purchasing goods and services from third-party suppliers, has discretion in selecting the supplier and bears the credit risk. For the years ended December 31, 2017, December 31, 2016 and December 31, 2015, the Company reported operating expense recoveries, primarily related to its one medical office building, totaling $1.0 million, $0.9 million, and $0.8 million, respectively, which is included in rental income on the consolidated statement of operations. Revenue Recognition: Mortgage Notes and Other Receivables Mortgage notes receivable are classified as held-for-investment based on management’s intent and ability to hold the mortgage notes receivable for the foreseeable future or to maturity. The Company recognizes interest income on mortgage notes receivable, including the amortization of any discounts and premiums, using the interest method applied on a loan-by-loan basis when collectability of the future payments is reasonably assured. Premiums, discounts and related costs are recognized as yield adjustments over the term of the related loans. Mortgage notes receivable are placed on non-accrual status at such time as management determines that collectability of contractual amounts is not reasonably assured. While on non-accrual status, mortgage notes receivable are either accounted for on a cash basis, in which income is recognized only upon receipt of cash, or on a cost-recovery basis, where cash receipts reduce the carrying value of the loan, based on management’s judgment of collectability. No mortgage notes receivable are currently on non-accrual status. Allowances are established for loans based upon an estimate of probable losses on an individual basis if they are determined to be impaired. Loans are impaired when it is deemed probable that the Company will be unable to collect all amounts due on a timely basis in accordance with the contractual terms of the loan. The allowance is based upon management’s assessment of the borrower’s overall financial condition, resources and payment record; the prospects for support from any financially responsible guarantors; and, if appropriate, the net realizable value of any collateral. These estimates consider all available evidence including, as appropriate, the present value of the expected future cash flows discounted at the loan’s effective interest rate, the fair value of collateral, general economic conditions and trends, historical and industry loss experience, and other relevant factors. At December 31, 2017 and 2016, the Company had no allowance for loan losses. Commitment, origination and other fees from lending activities are recognized as interest income over the life of the related loan.
Allocation of Purchase Price of Acquired Real Estate	Allocation of Purchase Price of Acquired Real Estate : As part of the purchase price allocation process of acquisitions (whether accounted for as asset acquisitions or business combinations), management makes estimates based upon the relative fair values of each component for asset acquisitions and at a fair value of each component for business combinations. In making estimates of fair values for purposes of allocating purchase prices of acquired real estate, the Company utilizes a number of sources, including independent appraisals that may be obtained in connection with the acquisition or financing of the respective property and other market data. The Company also considers information obtained about each property as a result of the Company’s pre-acquisition due diligence, marketing and leasing activities in estimating the fair value of the assets acquired. The Company records above-market and below-market in-place lease values, if any, which are based on the present value of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining non-cancelable term of the lease, or, for below-market in-place leases, including any bargain renewal option terms. The Company amortizes any resulting capitalized above-market lease values as a reduction of rental income over the lease term. The Company amortizes any resulting capitalized below-market lease values as an increase to rental income over the lease term. As of December 31, 2017 and 2016, the Company had one above-market in-place lease with a gross value of $7.6 million. The Company did not have any below-market in-place leases as of December 31, 2017 and 2016. The Company amortizes the value of in-place leases to amortization expense over the initial term of the respective leases. If a lease is terminated, the unamortized portion of the in-place lease value is charged to amortization expense. Depreciation and amortization of real estate assets and liabilities is provided for on a straight-line basis over the estimated useful lives of the assets: Building 18 to 50 years Improvements 2 to 48 years Lease intangibles 2.7 to 15 years Furniture, fixtures, and equipment 5 to 14 years
Asset Impairment	Asset Impairment: Real Estate Properties Real estate asset impairment losses are recorded when events or changes in circumstances indicate the asset is impaired and the estimated undiscounted cash flows to be generated by the asset are less than its carrying amount. Management assesses the impairment of properties individually and impairment losses are calculated as the excess of the carrying amount over the fair value of assets to be held and used, and carrying amount over the fair value less cost to sell in instances where management has determined that the Company will dispose of the property and the criteria are met for the property to be classified as held-for-sale. In determining the fair value, the Company uses current appraisals or other third party opinions of value and other estimates of fair value such as estimated discounted future cash flows. Asset Impairment: Mortgage Notes and Other Receivables The Company evaluates the carrying value of mortgage and other notes receivable on an individual basis. Management periodically evaluates the realizability of future cash flows from the mortgage note receivable when events or circumstances, such as non-receipt of principal and interest payments and/or significant deterioration of the financial condition of the borrower, indicate that the Company will be unable to collect all the contractual interest and principal payments as scheduled in the loan agreement. An impairment charge is recognized in current period earnings and is calculated as the difference between the carrying amount of the loan and the discounted cash flows expected to be received, or if foreclosure is probable, the fair value of the collateral securing the loan.
Earnings Per Share	Earnings Per Share : Basic earnings per common share is computed by dividing net income (loss) applicable to common shares by the weighted number of shares of common stock outstanding during the period. Diluted earnings per common share is calculated by including the effect of dilutive securities. Certain of the Company’s unvested restricted stock awards contain non-forfeitable rights to dividends, and accordingly, these awards are deemed to be participating securities. These participating securities are included in the earnings allocation in computing both basic and diluted earnings per common share.
Income Taxes	Income Taxes : Commencing with its taxable year ended December 31, 2014, the Company elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the "Code"). The Company intends at all times to maintain its qualification as a REIT under Sections 856 through 860 of the Code. The Company has elected that its subsidiary, MedEquities Realty TRS, LLC, be taxed as a TRS under provisions of the Code. A TRS is subject to federal and state income taxes like those applicable to regular corporations. Aside from such income taxes that may be applicable to the taxable income in the Company’s TRS, the Company will not be subject to federal income tax provided that the Company continues to maintain its qualification as a REIT and makes distributions to stockholders equal to or in excess of the Company’s taxable income. The Company’s federal tax returns for the short taxable year ended December 31, 2014 and for the years ended December 31, 2015 and 2016 are currently subject to examination by taxing authorities. The Company classifies interest and penalties related to uncertain tax positions, if any, in the Company’s consolidated financial statements as a component of income tax expense. The Company has made no U.S. federal income tax payments.
Stock-Based Compensation	Stock-Based Compensation : The fair value of stock-based awards is calculated on the date of grant. The Company amortizes the stock-based compensation expense on a straight-line basis over the period that the awards are expected to vest, net of any forfeitures.
Deferred Costs	Deferred Costs : Costs incurred prior to the completion of offerings of stock or other capital instruments that directly relate to the offering are deferred and netted against proceeds received from the offering.
Fair Value Measurement	Fair Value Measurement : Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants. In calculating fair value, a company must maximize the use of observable market inputs, minimize the use of unobservable market inputs and disclose in the form of an outlined hierarchy the details of such fair value measurements. A hierarchy of valuation techniques is defined to determine whether the inputs to a fair value measurement are considered to be observable or unobservable in a marketplace. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. This hierarchy requires the use of observable market data when available. These inputs have created the following fair value hierarchy: • Level 1 - quoted prices for identical instruments in active markets; • Level 2 - quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and • Level 3 - fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. If quoted market prices or inputs are not available, fair value measurements are based upon valuation models that utilize current market or independently sourced market inputs, such as interest rates, option volatilities, credit spreads and market capitalization rates. Items valued using such internally-generated valuation techniques are classified according to the lowest level input that is significant to the fair value measurement. As a result, the asset or liability could be classified in either Level 2 or 3 even though there may be some significant inputs that are readily observable. Valuation techniques used by the Company include the use of third-party valuations and internal valuations, which may include discounted cash flow and Monte Carlo valuation models. For the years ended December 31, 2017 and 2016, the Company has recorded all acquisitions and business combinations based on estimated fair values. The fair values were obtained from third-party appraisals based on comparable properties (using the market approach, which involved Level 3 inputs in the fair value hierarchy).
Derivatives	Derivatives: In the normal course of business, the Company is subject to risk from adverse fluctuations in interest rates. The Company has chosen to manage this risk through the use of derivative financial instruments, primarily interest rate swaps. Counterparties to these contracts are major financial institutions. The Company is exposed to credit loss in the event of nonperformance by thes e counterparties. The Company does not use derivative instruments for trading or speculative purposes. The Company’s objective in managing exposure to interest risk is to limit the impact on cash flows. To qualify for hedge accounting, the Company’s interest rate swaps must effectively reduce the risk exposure that they are designed to hedge. In addition, at inception of a qualifying cash flow hedging relationship, the underlying transactions must be, and be expected to remain, probable of occurring in accordance with the Company’s related assertions. All of the Company’s hedges are cash flow hedges. The Company recognizes all derivative instruments as assets or liabilities at their fair value in the consolidated balance sheets. Changes in the fair value of derivative instruments that are not designated as hedges or that do not meet the criteria of hedge accounting are recognized in earnings. For derivatives designed in qualified cash flow hedging relationships, the change in fair value of the effective portion of the derivatives is recognized in accumulated other comprehensive income (loss), whereas the change in fair value of the ineffective portion is recognized in earnings. Gains and losses are reclassified from accumulated other comprehensive income into earnings once the underlying hedged transaction is recognized in earnings.
Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income : Certain items must be included in comprehensive income, including items such as foreign currency translation adjustments, minimum pension liability adjustments and unrealized gains or losses on available-for-sale securities. As of December 31, 2017, the accumulated other comprehensive income balance was approximately $1.2 million. The Company had no items included in other comprehensive income as of December 31, 2016.
Recent Accounting Developments	Recent Accounting Developments: On January 1, 2017, the Company adopted the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Update (“ASU”) No. 2016-09, “Improvements to Employee Share-Based Payment Accounting,” which amends the accounting for share-based payment transactions, including income tax effects, equity versus liability classification and classification on the statement of cash flows. The adoption of this guidance had no impact on the Company’s consolidated results of operations, financial condition, statement of cash flows or liquidity. In January 2017, the FASB issued ASU No. 2017-01, “Clarifying the Definition of a Business,” that clarifies the framework for determining whether an integrated set of assets and activities meets the definition of a business. The revised framework establishes a screen for determining whether an integrated set of assets and activities is a business and narrows the definition of a business, which is expected to result in fewer transactions being accounted for as business combinations. Acquisitions of integrated sets of assets and activities that do not meet the definition of a business are accounted for as asset acquisitions. The Company has applied the provisions of ASU 2017-01 beginning with its real estate acquisitions in 2017. The adoption of ASU 2017-01 did not have a material effect on the Company’s consolidated financial statements. On January 1, 2018, the FASB’s new revenue recognition standard included in Accounting Standards Codification (“ASC”) 606 , Revenue from Contacts with Customers, In August 2017, the FASB issued ASU No. 2017-12, “Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities.” The purpose of this updated guidance is to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. The transition guidance provides companies with the option of early adopting the new standard using a modified retrospective transition method in any interim period after issuance of the update, or alternatively requires adoption for fiscal years beginning January 1, 2019. This adoption method will require recognition of the cumulative effect of initially applying the standard as an adjustment to accumulated other comprehensive income with a corresponding adjustment to the opening balance of retained earnings as of the beginning of the fiscal year of adoption. The Company continues to assess all potential impacts of the standard but does not currently expect adoption to have a material impact on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” which amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheet and making targeted improvements to lessor accounting. The guidance requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The guidance will be effective beginning January 1, 2019. Early adoption is permitted. The Company is currently evaluating the impact of adopting this new accounting standard on the Company’s consolidated financial statements. Since the Company is currently the lessee under two leases, the impact of adopting this standard is expected to be minimal. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326),” which requires entities to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The standard also requires additional disclosures related to significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity’s portfolio. The amended guidance is effective for fiscal years, and interim periods within those years, beginning January 1, 2020 with early adoption permitted for the fiscal years, and interim periods within those fiscal years, beginning January 1, 2019. The Company is evaluating the impact of adopting this new accounting standard on the Company’s consolidated financial statements and currently expects that it will not have a material impact. In November 2016, the FASB issued ASU No. 2016-18, “Statement of Cash Flows - Restricted Cash,” which required that a statement of cash flows explains the change during the period in the total cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The new guidance is effective for fiscal years, and interim periods within those years, beginning January 1, 2018. The adoption of this guidance will change the presentation of restricted cash on the Company’s consolidated statement of cash flows. However, it will have no impact on the Company’s consolidated results of operations, financial condition or liquidity.

Accounting Policies and Relat24

Accounting Policies and Related Matters (Tables)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Schedule of Estimated Useful Lives of Assets	Depreciation and amortization of real estate assets and liabilities is provided for on a straight-line basis over the estimated useful lives of the assets: Building 18 to 50 years Improvements 2 to 48 years Lease intangibles 2.7 to 15 years Furniture, fixtures, and equipment 5 to 14 years

Investment Activity (Tables)

Investment Activity (Tables)	12 Months Ended
	Dec. 31, 2017
Schedule of Real Estate Investments	During the year ended December 31, 2017, the Company made the following real estate investments, which are described in more detail below (dollars in thousands): Investment Date Number of Properties/Loans Investment Type (2) Gross Investment Advanced Diagnostics Hospital East Mortgage Loan (1) January 2017 - MTG $ - Woodlake at Tolland Nursing and Rehabilitation Center June 2017 1 SNF 10,133 Magnolia Portfolio July 2017 2 SNF 15,039 Medistar Gemini Mortgage Loan August 2017 1 MTG 6,700 AAC Portfolio August 2017 4 BH 25,047 Sequel Construction Mortgage Loan October 2017 1 MTG 1,935 Advanced Diagnostics Hospital East (1) November 2017 1 ACH 17,531 Total 10 $ 76,385 (1) On November 10, 2017, the Company exercised its option to acquire Advanced Diagnostics Hospital East for $17.5 million, which was satisfied by applying the $12.5 million aggregate principal amount outstanding on the mortgage note to the purchase price and $5.0 million in cash consideration. (2) SNF- Skilled Nursing Facility; BH- Behavioral Health; ACH- Acute Care Hospital; MTG- Mortgage Note Receivable
Schedule of Revised Purchase Price Allocation of Properties	The revised allocations for these properties are as follows (dollars in thousands): Skilled Nursing Facility Inpatient Rehabilitation Facility Total Land $ 2,995 $ 991 $ 3,986 Buildings and improvements 11,760 10,235 21,995 Intangible lease assets — 7,946 7,946 Furniture, fixtures, and equipment 347 227 574 Total real estate properties acquired $ 15,102 $ 19,399 $ 34,501
Schedule of Change in Estimates of Purchase Price Allocation	The following table shows the impact of amounts recorded in the consolidated statement of operations for the year ended December 31, 2016 due to the change in the estimates of the purchase price allocations that would have been recorded in the consolidated statement of operations in prior periods had the adjustments to the provisional amounts been recognized as of the acquisition dates (dollars in thousands). Skilled Nursing Facility Inpatient Rehabilitation Facility Total Rental income $ — $ (127 ) $ (127 ) Depreciation and amortization 26 (79 ) (53 ) Net income attributable to common stockholders $ (26 ) $ (48 ) $ (74 )
Schedule of Future Minimum Payments for Operating Leases	Minimum cash rental payments due to the Company in future periods under operating leases for the Company’s properties that have non-cancelable terms as of December 31, 2017 are as follows (dollars in thousands): For the year ending December 31: 2018 $ 56,553 2019 57,085 2020 57,750 2021 58,544 2022 59,521 Thereafter 551,255 Total $ 840,708
Sales Revenue, Net | Credit Concentration Risk
Concentrations of Credit Risks	The following table contains information regarding tenant concentration in the Company’s portfolio, based on the percentage of revenues (rental income and interest on mortgage notes receivable) for the years ended December 31, 2017, 2016 and 2015, related to tenants, or affiliated tenants, that exceed 10% of revenues. % of Revenue for the year ended December 31, 2017 2016 2015 Baylor Scott & White Health 24.1% N/A (1) - GruenePointe Holdings 23.5% 28.9% 13.0% Fundamental Healthcare 15.1% 16.7% 16.4% Life Generations Healthcare 14.1% 17.5% 13.1% Vibra Healthcare 12.9% 15.5% 18.2% LRMC (2) - N/A (1) 34.2% (1) Total revenue is less than 10%. (2) LRMC was the prior tenant at Lakeway Hospital, in which the Company owns a 51% interest through the Lakeway Partnership. The lease with LRMC was terminated on September 1, 2016 and was replaced with a new lease with Baylor Scott & White Health. See “Lakeway Hospital Operator Change” above for further discussion.
Sales Revenue, Net | Geographic Concentration Risk
Concentrations of Credit Risks	The following table contains information regarding the geographic concentration of the properties in the Company’s portfolio as of December 31, 2017 and 2016, which includes percentage of rental income for the years ended December 31, 2017 and 2016 (dollars in thousands). Number of properties at December 31, Gross Investment at December 31, % of Total Real Estate Property investments at December 31, % of Rental Income State 2017 2016 2017 2016 2017 2016 For the year ended December 31, 2017 For the year ended December 31, 2016 Texas 17 14 $ 300,206 $ 270,725 53.3% 54.7% 60.5% 57.6% California 7 7 154,726 154,727 27.4% 31.3% 23.8% 28.7% Nevada 4 2 63,624 49,422 11.3% 10.0% 10.5% 9.7% South Carolina 1 1 20,000 20,000 3.5% 4.0% 3.3% 4.0% Indiana 2 - 15,039 - 2.7% - 1.1% - Connecticut 1 - 10,133 - 1.8% - 0.8% - 32 24 $ 563,728 $ 494,874 100.0% 100.0% 100.0% 100.0%

Real Estate Intangibles (Tables

Real Estate Intangibles (Tables)	12 Months Ended
	Dec. 31, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Carrying Amount of Real Estate Intangible Assets	The following is a summary of the carrying amount of real estate intangible assets (dollars in thousands): December 31, 2017 December 31, 2016 Gross Intangibles Accumulated Amortization Net Intangibles Gross Intangibles Accumulated Amortization Net Intangibles Weighted Average Life (Years) as of December 31, 2017 Above-market lease intangible $ 7,636 $ (1,146 ) $ 6,490 $ 7,636 $ (637 ) $ 6,999 12.8 In-place leases 2,406 (1,323 ) 1,083 2,406 (932 ) 1,474 10.5 Leasing commissions 1,294 (560 ) 734 1,294 (397 ) 897 10.1 Legal/marketing fees 51 (28 ) 23 51 (20 ) 31 9.9 Total $ 11,387 $ (3,057 ) $ 8,330 $ 11,387 $ (1,986 ) $ 9,401 12.2
Expected Amortization of Existing Real Estate Intangible Assets	The following table represents expected amortization of existing real estate intangible assets at December 31, 2017 (dollars in thousands): For the year ending December 31: 2018 715 2019 687 2020 687 2021 687 2022 687 Thereafter 4,867 Total $ 8,330

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Schedule of Debt Balance	The table below details the Company’s debt balance at December 31, 2017 and 2016 (dollars in thousands): December 31, 2017 December 31, 2016 Term loan- secured $ 125,000 $ - Revolving credit facility- secured 91,200 144,000 Unamortized deferred financing costs (677 ) - $ 215,523 $ 144,000
Summary of Gain Recognized On Interest Rate Derivative Designated As Cash Flow Hedges	The table below details the location in the consolidated financial statements of the gain recognized on interest rate derivatives designated as cash flow hedges for the year ended December 31, 2017 (dollars in thousands). The Company did not have any interest rate derivatives for the year ended December 31, 2016. Year ended December 31, 2017 Amount of gain recognized in other comprehensive income $ 636 Amount of loss reclassified from accumulated other comprehensive income into interest expense (611 ) Total other comprehensive income $ 1,247

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2017
Other Assets [Abstract]
Schedule of Other Assets, Net on Consolidated Balance Sheet	Items included in Other assets, net on the Company’s consolidated balance sheets as of December 31, 2017 and 2016 are detailed in the table below (dollars in thousands): December 31, 2017 December 31, 2016 Straight-line rent receivable $ 12,389 $ 6,470 Tenant allowances and lease incentives, net 8,463 8,624 Deferred financing costs, net 2,685 1,465 Prepaid assets and deposits 2,022 3,174 Interest rate swap derivative asset 1,247 - Pre-acquisition costs 872 883 Interest and accounts receivable 548 561 Capitalized pre-offering costs 297 - Corporate property, net 139 206 Surety bond deposit - 9,412 Note receivable - 450 Restricted cash - 262 $ 28,662 $ 31,507

Incentive Plan (Tables)

Incentive Plan (Tables)	12 Months Ended
	Dec. 31, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Stock-Based Award Activity	The following table summarizes the stock-based award activity for the years ended December 31, 2017, 2016 and 2015: Restricted Stock Awards Weighted-Average Grant Date Fair Value Per Restricted Stock Award RSU Awards Weighted-Average Grant Date Fair Value Per RSU Outstanding as of December 31, 2014 129,555 $ 15.00 158,927 $ 6.53 Granted 158,396 15.86 200,098 9.00 Vested (7,871 ) 15.00 - - Forfeited - - - - Outstanding as of December 31, 2015 280,080 $ 15.49 359,025 $ 7.91 Granted 88,915 11.83 216,750 9.50 Vested (16,202 ) 15.16 - - Forfeited - - - - Outstanding as of December 31, 2016 352,793 $ 14.57 575,775 $ 8.51 Granted 115,030 11.18 243,750 9.98 Vested (148,636 ) 14.39 - - Cancelled (5,368 ) 15.00 - - Forfeited - - (158,927 ) 6.53 Outstanding as of December 31, 2017 313,819 $ 13.42 660,598 $ 9.52
Summary of Share Based Compensation Expense	The table below summarizes compensation expense related to share-based payments, included in general and administrative expenses, for the years ended December 31, 2017, 2016 and 2015 (in thousands): 2017 2016 2015 Restricted stock $ 1,892 $ 1,605 $ 1,192 Restricted stock units 1,495 950 603 Stock-based compensation $ 3,387 $ 2,555 $ 1,795

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2017
Commitments And Contingencies Disclosure [Abstract]
Schedule of Future Minimum Payments for Operating Leases	The Company’s future minimum lease payments for its operating leases as of December 31, 2017 were as follows (dollars in thousands): For the year ending: 2018 $ 342 2019 351 2020 203 2021 176 2022 179 Thereafter 19,800 Total $ 21,051

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2017
Equity [Abstract]
Schedule of Common Stock Dividend	The following table depicts common stock dividends related to 2016 and 2017. Quarter Quarterly Dividend Date of Declaration Date of Record Date Paid 1st Quarter 2016 $ 0.21 April 28, 2016 May 10, 2016 May 19, 2016 2nd Quarter 2016 $ 0.21 August 3, 2016 August 17, 2016 August 30, 2016 3rd Quarter 2016 $ 0.21 September 15, 2016 September 23, 2016 October 4, 2016 4th Quarter 2016 $ 0.21 January 3, 2017 January 17, 2017 January 31, 2017 1st Quarter 2017 $ 0.21 May 3, 2017 May 17, 2017 May 31, 2017 2nd Quarter 2017 $ 0.21 August 2, 2017 August 16, 2017 August 30, 2017 3rd Quarter 2017 $ 0.21 November 1, 2017 November 15, 2017 November 29, 2017

Distributions (unaudited) (Tabl

Distributions (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2017
Distributions [Abstract]
Federal Income Tax Classification of Per Share Common Stock Distributions	The federal income tax classification of the per share common stock distributions are as follows: Year Ended December 31, 2017 2016 2015 Ordinary taxable distributions $ 0.66 $ 0.22 $ 0.68 Return of capital 0.18 0.70 - Total $ 0.84 $ 0.92 $ 0.68

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2017
Earnings Per Share [Abstract]
Computation of Earnings Per Common Share	The following table sets forth the computation of earnings per common share for the years ended December 31, 2017, 2016 and 2015 (amounts in thousands, except per share amounts): Numerator: For the year ended December 31, 2017 For the year ended December 31, 2016 For the year ended December 31, 2015 Net income $ 24,152 $ 11,316 $ 16,730 Less: Net income attributable to noncontrolling interest (3,730 ) (266 ) (4,029 ) Less: Dividends on preferred shares - (13,760 ) (7,835 ) Net income (loss) attributable to common stockholders 20,422 (2,710 ) 4,866 Less: Allocation to participating securities (265 ) (182 ) (216 ) Net income (loss) available to common stockholders $ 20,157 $ (2,892 ) $ 4,650 Denominator Basic weighted-average common shares 31,447 15,838 10,948 Dilutive potential common shares 37 - - Diluted weighted-average common shares 31,484 15,838 10,948 Earnings (loss) per common share- basic and diluted $ 0.64 $ (0.18 ) $ 0.42

Selected Interim Financial Da34

Selected Interim Financial Data (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Summary of Unaudited Quarterly Financial Information	The following is a summary of the unaudited quarterly financial information for the years ended December 31, 2017 and 2016 (amounts in thousands, except per share data): Quarter ended March 31 June 30 September 30 December 31 2017 Revenues $ 14,282 $ 14,825 $ 15,766 $ 16,232 Interest expense (1,515 ) (1,808 ) (2,117 ) (2,261 ) Net income 5,475 5,732 6,266 6,679 Net income attributable to noncontrolling interest (944 ) (936 ) (941 ) (909 ) Net income attributable to common stockholders $ 4,531 $ 4,796 $ 5,325 $ 5,770 Net income attributable to common stockholders per share: Basic and diluted $ 0.14 $ 0.15 $ 0.17 $ 0.18 Quarter ended March 31 June 30 September 30 December 31 2016 Revenues $ 14,848 $ 6,593 $ 13,845 $ 14,010 Interest expense (3,125 ) (3,226 ) (2,792 ) (1,740 ) Net income (loss) 4,851 (3,645 ) 4,734 5,376 Preferred stock dividends (2,465 ) (2,465 ) (2,464 ) (6,366 ) Net (income) loss attributable to noncontrolling interest (1,355 ) 2,841 (821 ) (931 ) Net income (loss) attributable to common stockholders $ 1,031 $ (3,269 ) $ 1,449 $ (1,921 ) Net income (loss) attributable to common stockholders per share: Basic and diluted $ 0.09 $ (0.30 ) $ 0.12 $ (0.06 )

Organization and Nature of Bu35

Organization and Nature of Business - Additional Information (Details) $ / shares in Units, $ in Millions	Dec. 31, 2015USD ($)	Oct. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2017USD ($)PropertyMortgage	Dec. 31, 2016Property
Organization And Nature Of Business [Line Items]
Investment in real estate properties and mortgage notes receivable			$ 540.3
Number of real estate properties | Property			32	24
Number of mortgage notes receivable | Mortgage			3
Ownership interest			100.00%
Percentage of annual taxable income distribute to shareholders.			90.00%
IPO
Organization And Nature Of Business [Line Items]
Common stock issued | shares		20,434,567
Common stock issued, price per share | $ / shares		$ 12
Aggregate net proceeds from offering		$ 221.6
Offering expenses paid	$ 2.7
Preferred stock redemption amount		131.4
Repayment of secured credit facility		$ 94.8
Acute Care Hospital
Organization And Nature Of Business [Line Items]
Ownership percentage by parent			51.00%

Accounting Policies and Relat36

Accounting Policies and Related Matters - Additional Information (Details)	12 Months Ended
	Dec. 31, 2017USD ($)SegmentLease	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Accounting Policies And Related Matters [Line Items]
Number of reportable segments | Segment	1
Restricted cash balance	$ 0	$ 300,000
Allowance for doubtful accounts	0	0
Allowance for loan losses	0	0
Intangible lease assets	11,387,000	11,387,000
Accumulated other comprehensive income	$ 1,247,000	0
Number of leases | Lease	2
Above Market Leases
Accounting Policies And Related Matters [Line Items]
Intangible lease assets	$ 7,636,000	7,636,000
Above Market Leases | Real Estate
Accounting Policies And Related Matters [Line Items]
Intangible lease assets	7,600,000	7,600,000
Medical Office Building
Accounting Policies And Related Matters [Line Items]
Operating expense recoveries	$ 1,000,000	$ 900,000	$ 800,000

Accounting Policies and Relat37

Accounting Policies and Related Matters - Schedule of Estimated Useful Lives of Assets (Details)	12 Months Ended
	Dec. 31, 2017
Minimum | Lease Intangibles
Property, Plant and Equipment [Line Items]
Estimated useful lives of intangible assets	2 years 8 months 12 days
Maximum | Lease Intangibles
Property, Plant and Equipment [Line Items]
Estimated useful lives of intangible assets	15 years
Building | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	18 years
Building | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	50 years
Improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	2 years
Improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	48 years
Furniture, Fixtures, and Equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Furniture, Fixtures, and Equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	14 years

Investment Activity - Schedule

Investment Activity - Schedule of Real Estate Investments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)Investment
Investment Activity [Line Items]
Number of Properties/Loans | Investment	10
Gross Investment | $	$ 76,385
Advanced Diagnostics Hospital East Mortgage Loan | MTG
Investment Activity [Line Items]
Investment Date	2017-01	[1]
Woodlake at Tolland Nursing and Rehabilitation Center | SNF
Investment Activity [Line Items]
Investment Date	2017-06
Number of Properties/Loans | Investment	1
Gross Investment | $	$ 10,133
Magnolia Portfolio | SNF
Investment Activity [Line Items]
Investment Date	2017-07
Number of Properties/Loans | Investment	2
Gross Investment | $	$ 15,039
Medistar Gemini Mortgage Loan | MTG
Investment Activity [Line Items]
Investment Date	2017-08
Number of Properties/Loans | Investment	1
Gross Investment | $	$ 6,700
AAC Portfolio | BH
Investment Activity [Line Items]
Investment Date	2017-08
Number of Properties/Loans | Investment	4
Gross Investment | $	$ 25,047
Sequel Construction Mortgage Loan | MTG
Investment Activity [Line Items]
Investment Date	2017-10
Number of Properties/Loans | Investment	1
Gross Investment | $	$ 1,935
Advanced Diagnostics Hospital East | Acute Care Hospital
Investment Activity [Line Items]
Investment Date	2017-11	[1]
Number of Properties/Loans | Investment	1	[1]
Gross Investment | $	$ 17,531	[1]
[1]	On November 10, 2017, the Company exercised its option to acquire Advanced Diagnostics Hospital East for $17.5 million, which was satisfied by applying the $12.5 million aggregate principal amount outstanding on the mortgage note to the purchase price and $5.0 million in cash consideration.

Investment Activity - Schedul39

Investment Activity - Schedule of Real Estate Investments (Parenthetical) (Details) - USD ($) $ in Thousands	Nov. 10, 2017	Dec. 31, 2017	Jan. 30, 2017	Dec. 31, 2016
Investment Activity [Line Items]
Mortgage notes receivable, net		$ 18,557	$ 12,500	$ 9,915
Advanced Diagnostics Hospital East
Investment Activity [Line Items]
Aggregate purchase price	$ 17,500
Mortgage notes receivable, net	12,500
Cash consideration	$ 5,000

Investment Activity - 2017 Real

Investment Activity - 2017 Real Estate Acquisitions - Additional Information (Details)	Nov. 10, 2017USD ($)Lease	Aug. 09, 2017USD ($)LeaseBedFacility	Jul. 31, 2017USD ($)BedLeaseFacility	Jun. 30, 2017USD ($)LeaseBed	Dec. 31, 2018Bed	Dec. 31, 2017USD ($)	Jan. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Investment Activity [Line Items]
Percentage of annual escalators		8.75%
Mortgage notes receivable, net						$ 18,557,000	$ 12,500,000	$ 9,915,000
Subsidiaries of AAC Holdings, Inc
Investment Activity [Line Items]
Aggregate purchase price		$ 25,000,000
Percentage of leased property		100.00%
Initial term of lease		15 years
Number of lease renewal options | Lease		2
Lease renewal term		5 years
Number of behavioral health and substance abuse treatment facilities | Facility		4
Subsidiaries of AAC Holdings, Inc | Scenario, Forecast
Investment Activity [Line Items]
Number of sober living facility | Bed					131
Subsidiaries of AAC Holdings, Inc | Maximum
Investment Activity [Line Items]
Transaction costs capitalized		$ 100,000
Las Vegas, Nevada and Arlington, Texas | Subsidiaries of AAC Holdings, Inc
Investment Activity [Line Items]
Number of standalone intensive outpatient treatment facilities | Facility		2
Las Vegas | Subsidiaries of AAC Holdings, Inc
Investment Activity [Line Items]
Number of sober living facility | Bed		110
Arlington | Subsidiaries of AAC Holdings, Inc
Investment Activity [Line Items]
Number of sober living facility | Bed		56
Advanced Diagnostics Hospital East
Investment Activity [Line Items]
Aggregate purchase price	$ 17,500,000
Percentage of leased property	100.00%
Initial term of lease	15 years
Number of lease renewal options | Lease	2
Lease renewal term	10 years
Percentage of annual escalators	9.60%
Transaction costs capitalized	$ 100,000
Mortgage notes receivable, net	12,500,000
Cash consideration	$ 5,000,000
Real Estate Investment
Investment Activity [Line Items]
Percentage of leased property			100.00%
Initial term of lease			15 years
Percentage of annual escalators			9.00%
Number of skilled nursing facilities | Facility			2
Real Estate Investment | Maximum
Investment Activity [Line Items]
Transaction costs capitalized			$ 100,000
Real Estate Investment | Magnolia Health Systems, Inc
Investment Activity [Line Items]
Lease renewal term			10 years
Real Estate Investment | Indiana
Investment Activity [Line Items]
Aggregate purchase price			$ 15,000,000
Number of licensed beds | Bed			160
Real Estate Investment | Nevada | Magnolia Health Systems, Inc
Investment Activity [Line Items]
Number of lease renewal options | Lease			2
Real Estate Investment | Tolland Nursing & Rehabilitation Center
Investment Activity [Line Items]
Number of skilled nursing facilities acquired | Bed				130
Aggregate purchase price				$ 10,000,000
Percentage of leased property				100.00%
Initial term of lease				12 years
Number of lease renewal options | Lease				2
Lease renewal term				10 years
Percentage of annual escalators				9.00%
Transaction costs capitalized				$ 100,000

Investment Activity - 2017 Mort

Investment Activity - 2017 Mortgage Notes Receivable Funding - Additional Information (Details)	Oct. 10, 2017USD ($)	Aug. 01, 2017USD ($)	Jan. 30, 2017USD ($)ft²Room	Dec. 31, 2017USD ($)	Oct. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Investment Activity [Line Items]
Mortgage notes receivable, net | $			$ 12,500,000	$ 18,557,000		$ 9,915,000
Interest-only loan interest rate			9.60%
Area of hospital building | ft²			23,300
Number of operating rooms | Room			4
Number of special procedure rooms | Room			2
Number of inpatient rooms | Room			4
Number of full-size extended recovery rooms | Room			4
Medistar Corporation
Investment Activity [Line Items]
Mortgage notes receivable, net | $		$ 6,700,000
Interest-only loan interest rate		10.00%
Mortage note, maturity date		Apr. 1, 2018
Sequel Youth and Family Services, LLC
Investment Activity [Line Items]
Mortgage notes receivable, net | $				$ 1,900,000
Interest-only loan interest rate	8.25%
Initial term of lease	15 years
Percentage of initial yield on lease	9.00%
Sequel Youth and Family Services, LLC | Maximum
Investment Activity [Line Items]
Mortgage notes receivable, net | $	$ 6,000,000				$ 6,000,000

Investment Activity - 2016 Inve

Investment Activity - 2016 Investment Activity - Additional Information (Details) - USD ($)	Sep. 01, 2016	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2017	Dec. 31, 2016	Jun. 30, 2016	Mar. 31, 2016
Baylor Scott And White Health
Investment Activity [Line Items]
Date of tenant change	Sep. 1, 2016
Initial lease term				15 years
Lease term, description				an initial term of 15 years with two ten-year extension options.
Annual base lease rent	$ 12,800,000
Purchase option, description				The lease provides that, commencing after completion of the third year of the lease and subject to certain conditions, the Baylor Lessee has the option to purchase Lakeway Hospital at a price equal to the aggregate base rent payable under the lease for the 12-month period following the date of the written notice from the Baylor Lessee divided by
Tenant allowances paid	$ 2,300,000
Baylor Scott And White Health | Second Anniversary
Investment Activity [Line Items]
Lease rent increase percentage	1.75%
Baylor Scott And White Health | Third Anniversary
Investment Activity [Line Items]
Lease rent increase percentage	2.00%
Baylor Scott And White Health | Anniversary Thereafter
Investment Activity [Line Items]
Lease rent increase percentage	2.50%
Baylor Scott And White Health | After Completion Of Third Lease Year And Before Completion Of Tenth Lease Year
Investment Activity [Line Items]
Purchase price percentage	6.50%
Purchase option amount	$ 203,600,000
Baylor Scott And White Health | Anniversary Thereafter
Investment Activity [Line Items]
Purchase price percentage	7.00%
Lakeway Regional Medical Center
Investment Activity [Line Items]
Deferred payment lease base rent						$ 3,500,000	$ 1,700,000
Reduced monthly base rent due		$ 500,000	$ 500,000
Stabilized monthly lease rent				$ 1,100,000
Lease termination receivable							$ 1,500,000
Bad debt expense				200,000
Deferred payment unrecognized				1,800,000
Straight-line rent receivable written off				$ 7,000,000
Lakeway Regional Medical Center | Noncontrolling Interest
Investment Activity [Line Items]
Straight-line rent receivable written off					$ 3,600,000

Investment Activity - Adjustmen

Investment Activity - Adjustments to Purchase Price Allocations of 2015 Acquisitions - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Jun. 30, 2016	Mar. 31, 2016	Oct. 01, 2015
Skilled Nursing Facility and Inpatient Rehabilitation Facility
Business Acquisition [Line Items]
Business acquisition, land			$ 3,986	$ 4,600
Business acquisition, buildings and improvements			21,995	$ 39,900
Skilled Nursing Facility
Business Acquisition [Line Items]
Business acquisition, land			2,995
Business acquisition, buildings and improvements			$ 11,760
Elimination of earn-out consideration		$ 10,000
Reduction of depreciation expense related to earn-out assets	$ 200

Investment Activity - Schedul44

Investment Activity - Schedule of Revised Purchase Price Allocation of Properties (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Oct. 01, 2015
Skilled Nursing Facility
Business Acquisition [Line Items]
Land	$ 2,995
Buildings and improvements	11,760
Furniture, fixtures, and equipment	347
Total real estate properties acquired	15,102
Inpatient Rehabilitation Facility
Business Acquisition [Line Items]
Land	991
Buildings and improvements	10,235
Intangible lease assets	7,946
Furniture, fixtures, and equipment	227
Total real estate properties acquired	19,399
Skilled Nursing Facility and Inpatient Rehabilitation Facility
Business Acquisition [Line Items]
Land	3,986	$ 4,600
Buildings and improvements	21,995	$ 39,900
Intangible lease assets	7,946
Furniture, fixtures, and equipment	574
Total real estate properties acquired	$ 34,501

Investment Activity - Schedul45

Investment Activity - Schedule of Change in Estimates of Purchase Price Allocation (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Skilled Nursing Facility
Business Acquisition [Line Items]
Depreciation and amortization	$ 26
Net income attributable to common stockholders	(26)
Inpatient Rehabilitation Facility
Business Acquisition [Line Items]
Rental income	(127)
Depreciation and amortization	(79)
Net income attributable to common stockholders	(48)
Skilled Nursing Facility and Inpatient Rehabilitation Facility
Business Acquisition [Line Items]
Rental income	(127)
Depreciation and amortization	(53)
Net income attributable to common stockholders	$ (74)

Investment Activity - 2018 Inve

Investment Activity - 2018 Investment Activity - Additional Information (Details) $ in Thousands	Jan. 08, 2018USD ($)Bed	Jan. 30, 2017USD ($)	Feb. 21, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Investment Activity [Line Items]
Mortgage notes receivable, net		$ 12,500		$ 18,557	$ 9,915
Loan interest rate		9.60%
Haven Behavioral Healthcare
Investment Activity [Line Items]
Mortgage notes receivable, net			$ 7,700
Number of inpatient bed | Bed	72
Term on mortgage loan	three-year
Sale-leaseback term	15-year
Initial master lease yield	9.30%
Haven Behavioral Healthcare | Maximum
Investment Activity [Line Items]
Mortgage notes receivable, net	$ 19,000

Investment Activity - Schedul47

Investment Activity - Schedule of Future Minimum Payments for Operating Leases (Details) $ in Thousands	Dec. 31, 2017USD ($)
Leases Operating [Abstract]
2,018	$ 56,553
2,019	57,085
2,020	57,750
2,021	58,544
2,022	59,521
Thereafter	551,255
Total	$ 840,708

Investment Activity - Schedul48

Investment Activity - Schedule of Tenant Concentration of Revenue (Details) - Credit Concentration Risk - Sales Revenue, Net		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Baylor Scott & White Health
Concentration Risk [Line Items]
Concentration risk percentage		24.10%
Gruene Pointe Holdings
Concentration Risk [Line Items]
Concentration risk percentage		23.50%	28.90%	13.00%
Life Generations Healthcare
Concentration Risk [Line Items]
Concentration risk percentage		14.10%	17.50%	13.10%
Fundamental Healthcare
Concentration Risk [Line Items]
Concentration risk percentage		15.10%	16.70%	16.40%
Vibra Healthcare
Concentration Risk [Line Items]
Concentration risk percentage		12.90%	15.50%	18.20%
Lakeway Regional Medical Center
Concentration Risk [Line Items]
Concentration risk percentage	[1]			34.20%
[1]	LRMC was the prior tenant at Lakeway Hospital, in which the Company owns a 51% interest through the Lakeway Partnership. The lease with LRMC was terminated on September 1, 2016 and was replaced with a new lease with Baylor Scott & White Health. See “Lakeway Hospital Operator Change” above for further discussion.

Investment Activity - Schedul49

Investment Activity - Schedule of Tenant Concentration of Revenue (Parenthetical) (Details)	Dec. 31, 2017
Lakeway Regional Medical Center
Concentration Risk [Line Items]
Ownership percentage by parent	51.00%

Investment Activity - Schedul50

Investment Activity - Schedule of Geographic Concentration of Properties (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)Property	Dec. 31, 2016USD ($)Property
Concentration Risk [Line Items]
Number of real estate properties | Property	32	24
Gross Investment | $	$ 563,728	$ 494,874
Percentage of Total Real Estate Property Investments	100.00%	100.00%
Geographic Concentration Risk | Sales Revenue, Net
Concentration Risk [Line Items]
Percentage of Rental Income	100.00%	100.00%
Texas
Concentration Risk [Line Items]
Number of real estate properties | Property	17	14
Gross Investment | $	$ 300,206	$ 270,725
Percentage of Total Real Estate Property Investments	53.30%	54.70%
Texas | Geographic Concentration Risk | Sales Revenue, Net
Concentration Risk [Line Items]
Percentage of Rental Income	60.50%	57.60%
California
Concentration Risk [Line Items]
Number of real estate properties | Property	7	7
Gross Investment | $	$ 154,726	$ 154,727
Percentage of Total Real Estate Property Investments	27.40%	31.30%
California | Geographic Concentration Risk | Sales Revenue, Net
Concentration Risk [Line Items]
Percentage of Rental Income	23.80%	28.70%
Nevada
Concentration Risk [Line Items]
Number of real estate properties | Property	4	2
Gross Investment | $	$ 63,624	$ 49,422
Percentage of Total Real Estate Property Investments	11.30%	10.00%
Nevada | Geographic Concentration Risk | Sales Revenue, Net
Concentration Risk [Line Items]
Percentage of Rental Income	10.50%	9.70%
South Carolina
Concentration Risk [Line Items]
Number of real estate properties | Property	1	1
Gross Investment | $	$ 20,000	$ 20,000
Percentage of Total Real Estate Property Investments	3.50%	4.00%
South Carolina | Geographic Concentration Risk | Sales Revenue, Net
Concentration Risk [Line Items]
Percentage of Rental Income	3.30%	4.00%
Indiana
Concentration Risk [Line Items]
Number of real estate properties | Property	2
Gross Investment | $	$ 15,039
Percentage of Total Real Estate Property Investments	2.70%
Indiana | Geographic Concentration Risk | Sales Revenue, Net
Concentration Risk [Line Items]
Percentage of Rental Income	1.10%
Connecticut
Concentration Risk [Line Items]
Number of real estate properties | Property	1
Gross Investment | $	$ 10,133
Percentage of Total Real Estate Property Investments	1.80%
Connecticut | Geographic Concentration Risk | Sales Revenue, Net
Concentration Risk [Line Items]
Percentage of Rental Income	0.80%

Real Estate Intangibles - Summa

Real Estate Intangibles - Summary of Carrying Amount of Real Estate Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Finite Lived Intangible Assets [Line Items]
Intangible lease assets	$ 11,387	$ 11,387
Accumulated Amortization	(3,057)	(1,986)
Net Intangibles	$ 8,330	9,401
Real Estate
Finite Lived Intangible Assets [Line Items]
Weighted Average Life (Years)	12 years 2 months 12 days
Above-Market Lease Intangible
Finite Lived Intangible Assets [Line Items]
Intangible lease assets	$ 7,636	7,636
Accumulated Amortization	(1,146)	(637)
Net Intangibles	6,490	6,999
Above-Market Lease Intangible | Real Estate
Finite Lived Intangible Assets [Line Items]
Intangible lease assets	$ 7,600	7,600
Weighted Average Life (Years)	12 years 9 months 18 days
In-place Leases
Finite Lived Intangible Assets [Line Items]
Intangible lease assets	$ 2,406	2,406
Accumulated Amortization	(1,323)	(932)
Net Intangibles	$ 1,083	1,474
In-place Leases | Real Estate
Finite Lived Intangible Assets [Line Items]
Weighted Average Life (Years)	10 years 6 months
Leasing Commissions
Finite Lived Intangible Assets [Line Items]
Intangible lease assets	$ 1,294	1,294
Accumulated Amortization	(560)	(397)
Net Intangibles	$ 734	897
Leasing Commissions | Real Estate
Finite Lived Intangible Assets [Line Items]
Weighted Average Life (Years)	10 years 1 month 6 days
Legal/Marketing Fees
Finite Lived Intangible Assets [Line Items]
Intangible lease assets	$ 51	51
Accumulated Amortization	(28)	(20)
Net Intangibles	$ 23	$ 31
Legal/Marketing Fees | Real Estate
Finite Lived Intangible Assets [Line Items]
Weighted Average Life (Years)	9 years 10 months 24 days

Real Estate Intangibles - Addit

Real Estate Intangibles - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Real Estate
Finite Lived Intangible Assets [Line Items]
Amortization expense on intangible assets	$ 1.1	$ 1.2

Real Estate Intangibles - Expec

Real Estate Intangibles - Expected Amortization of Existing Real Estate Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
2,018	$ 715
2,019	687
2,020	687
2,021	687
2,022	687
Thereafter	4,867
Net Intangibles	$ 8,330	$ 9,401

Debt - Summary of Debt (Detail)

Debt - Summary of Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Unamortized deferred financing costs	$ (677)
Debt, net	215,523	$ 144,000
Term loan- secured
Debt Instrument [Line Items]
Line of credit facility maximum borrowing capacity	125,000
Revolving credit facility- secured
Debt Instrument [Line Items]
Line of credit facility outstanding amount	$ 91,200	144,000
Unamortized deferred financing costs		$ (300)	$ (100)

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)	Feb. 21, 2018	Apr. 10, 2017	Feb. 10, 2017	Feb. 09, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Line of credit facility maximum borrowing capacity				$ 300,000,000
Line of credit facility maturity date				2017-11
Debt instrument description					The revolving credit facility has one 12-month extension option, subject to certain conditions, including the payment of a 0.15% extension fee.
Debt instrument, extension fee					0.15%
Commitment fees paid			$ 2,700,000
Debt instrument collateral amount			1,000,000,000
Line of credit facility minimum borrowing base			$ 500,000,000
Line of credit facility leverage ratio			50.00%
Unamortized deferred financing costs					$ 677,000
Interest rate swap agreement effective date			Apr. 10, 2017
Estimated additional reclassification from other comprehensive income (loss) to interest expense					100,000
Fair value interest rate swap on net liability position including accrued interest but excluding adjustment for nonperformance risk					0
Other assets, net
Debt Instrument [Line Items]
Debt financing costs, net					2,685,000	$ 1,465,000
Interest Rate Swap Agreements | Other assets, net
Debt Instrument [Line Items]
Fair value of derivative financial instruments					$ 1,200,000
LIBOR | Minimum
Debt Instrument [Line Items]
Debt instrument interest rate			1.75%	2.75%
LIBOR | Maximum
Debt Instrument [Line Items]
Debt instrument interest rate			3.00%	3.75%
Base Rate | Minimum
Debt Instrument [Line Items]
Debt instrument interest rate			0.75%	2.00%
Base Rate | Maximum
Debt Instrument [Line Items]
Debt instrument interest rate			2.00%	2.50%
Term Loan
Debt Instrument [Line Items]
Line of credit facility maximum borrowing capacity		$ 125,000,000	$ 125,000,000
Line of credit facility maturity date			2022-02
Commitment fees paid			$ 800,000
Debt instrument, weighted average interest					3.80%
Deferred financing costs, gross					$ 800,000	2,500
Debt financing costs, net					$ 700,000	$ 1,500
Accordion Feature Debt
Debt Instrument [Line Items]
Line of credit facility maximum borrowing capacity			700,000,000
Secured Revolving Credit facility
Debt Instrument [Line Items]
Line of credit facility maximum borrowing capacity			$ 300,000,000
Line of credit facility maturity date			2021-02
Commitment fees paid			$ 1,900,000
Debt instrument, weighted average interest					3.60%	2.70%
Costs related to revolving credit facility, gross					$ 3,400,000
Costs related to revolving credit facility, net					2,700,000
Amortization expense of deferred financing costs					$ 1,100,000	$ 2,500,000	$ 2,100,000
Unamortized deferred financing costs						$ 300,000	$ 100,000
Secured Revolving Credit facility | Minimum
Debt Instrument [Line Items]
Line of credit facility unused fees					0.25%
Line of credit facility usage fees					50.00%
Secured Revolving Credit facility | Maximum
Debt Instrument [Line Items]
Line of credit facility unused fees					0.35%
Line of credit facility usage fees					50.00%
Secured Revolving Credit facility | LIBOR
Debt Instrument [Line Items]
Debt instrument interest rate		1.84%
Secured Revolving Credit facility | LIBOR | Scenario, Forecast
Debt Instrument [Line Items]
Debt instrument interest rate	2.00%

Debt - Summary of Gain Recogniz

Debt - Summary of Gain Recognized On Interest Rate Derivative Designated As Cash Flow Hedges (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)
Debt Disclosure [Abstract]
Amount of gain recognized in other comprehensive income	$ 636
Amount of loss reclassified from accumulated other comprehensive income into interest expense	(611)
Total other comprehensive income	$ 1,247

Other Assets - Summary of Other

Other Assets - Summary of Other Assets, Net on Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Other Assets
Total Other assets, net	$ 28,662	$ 31,507
Other assets, net
Other Assets
Straight-line rent receivable	12,389	6,470
Tenant allowances and lease incentives, net	8,463	8,624
Debt financing costs, net	2,685	1,465
Prepaid assets and deposits	2,022	3,174
Pre-acquisition costs	872	883
Interest and accounts receivable	548	561
Capitalized pre-offering costs	297
Corporate property, net	139	206
Surety bond deposit		9,412
Note receivable		450
Restricted cash		$ 262
Other assets, net | Interest Rate Swap Agreements
Other Assets
Interest rate swap derivative asset	$ 1,247

Other Assets - Additional Infor

Other Assets - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Aug. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 30, 2016
Other assets, net
Other Assets
Surety bond deposit			$ 9,412
Lakeway Regional Medical Center | Surety Bond
Other Assets
Interest and other income			$ 200
Lakeway Regional Medical Center | Other assets, net
Other Assets
Surety bond deposit				$ 9,400
Lakeway Regional Medical Center | Accrued Interest | Surety Bond
Other Assets
Funds released in litigation matter	$ 9,400
Lakeway Regional Medical Center | Other Assets, Net And Accounts Payable And Accrued Liabilities
Other Assets
Litigation elimination amount		$ 9,400

Incentive Plan - Additional Inf

Incentive Plan - Additional Information (Details) $ in Millions	Dec. 31, 2015	Dec. 31, 2018USD ($)anniversaryshares	Dec. 31, 2017USD ($)shares	Dec. 31, 2016shares	Dec. 31, 2015shares
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards vesting description			The awards generally cliff vest over three years or vest ratably over three years from the date of grant.
Awards vesting period			3 years
Common stock vested			148,636	16,202	7,871
Shares surrendered to satisfy tax obligation			20,229
Shares granted			115,030	88,915	158,396
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage on number of RSUs granted			100.00%
Awards measurement period	3 years		3 years
Expected service periods			3 years
Risk free interest rate minimum			1.00%
Risk free interest rate maximum			1.97%
Volatility rate minimum			23.40%
Volatility rate maximum			42.40%
REIT index, volatility minimum rate			13.60%
REIT index, volatility maximum rate			19.20%
Common stock not vested and were forfeited			158,927
Unrecognized cost from stock-based awards | $			$ 5.9
Weighted average recognition period			2 years 2 months 12 days
Shares granted			243,750	216,750	200,098
Restricted Stock Units | Employee
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock not vested and were forfeited			158,927
Restricted Stock Units | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage on number of RSUs granted	0.00%		0.00%
Restricted Stock Units | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage on number of RSUs granted	100.00%		150.00%
2014 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares authorized			3,356,723
Shares available for future issuance			1,973,982
2018 Grants | Restricted Stock | Non-Employee Directors | Scenario, Forecast
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards vesting description		vest ratably on each of the first three anniversaries of the date of grant
Shares granted		46,788
Number of vesting anniversaries | anniversary		3
Total value of awards | $		$ 0.5

Incentive Plan - Summary of Sto

Incentive Plan - Summary of Stock-Based Award Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Restricted Stock Awards
Number of Shares
Outstanding at beginning of the period	352,793	280,080	129,555
Granted	115,030	88,915	158,396
Vested	(148,636)	(16,202)	(7,871)
Cancelled	(5,368)
Outstanding at end of the period	313,819	352,793	280,080
Weighted-Average Grant Date Fair Value Per Share
Outstanding at beginning of the period	$ 14.57	$ 15.49	$ 15
Granted	11.18	11.83	15.86
Vested	14.39	15.16	15
Cancelled	15
Outstanding at end of the period	$ 13.42	$ 14.57	$ 15.49
RSU Awards
Number of Shares
Outstanding at beginning of the period	575,775	359,025	158,927
Granted	243,750	216,750	200,098
Forfeited	(158,927)
Outstanding at end of the period	660,598	575,775	359,025
Weighted-Average Grant Date Fair Value Per Share
Outstanding at beginning of the period	$ 8.51	$ 7.91	$ 6.53
Granted	9.98	9.50	9
Forfeited	6.53
Outstanding at end of the period	$ 9.52	$ 8.51	$ 7.91

Incentive Plan - Summary of Com

Incentive Plan - Summary of Compensation Expense Related to Share-based Payments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock based compensation	$ 3,387	$ 2,555	$ 1,795
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock based compensation	1,892	1,605	1,192
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock based compensation	$ 1,495	$ 950	$ 603

Commitment and Contingencies -

Commitment and Contingencies - Additional Information (Details)	Feb. 21, 2018USD ($)	Apr. 30, 2017USD ($)	Dec. 31, 2017USD ($)Bed	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Oct. 31, 2017USD ($)	Oct. 10, 2017USD ($)	Jan. 30, 2017USD ($)
Loss Contingencies [Line Items]
Mortgage notes receivable, net			$ 18,557,000	$ 9,915,000				$ 12,500,000
Texas
Loss Contingencies [Line Items]
Aggregate purchase price			$ 41,100,000
Percentage of aggregate lease on rent			20.00%
Number of facilities | Bed			4
Number of licensed beds | Bed			408
Percentage of aggregate lease on rent			10.00%
Texas SNF Portfolio
Loss Contingencies [Line Items]
Aggregate purchase price			$ 12,000,000
Refundable contingent consideration			$ 3,000,000
Percentage of refundable contingent consideration			3.00%
Corporate Office Lease
Loss Contingencies [Line Items]
Operating lease expiration period			2,020
Percentage increase on operating lease			3.00%
Operating leases rent expense including straight-line rent			$ 500,000	$ 500,000	$ 500,000
Ground Lease
Loss Contingencies [Line Items]
Operating lease expiration period			2,081
Percentage increase on operating lease			2.00%
Scenario, Forecast | Texas
Loss Contingencies [Line Items]
Additional rent earned	$ 0
Scenario, Forecast | Texas SNF Portfolio
Loss Contingencies [Line Items]
Refundable contingent consideration earned	0
Mountains' Edge Hospital
Loss Contingencies [Line Items]
Aggregate amount available for construction and equipping of new surgical suites		$ 11,000,000
Percentage of base rent increased on amount advanced		9.25%
Mountains' Edge Hospital | Scenario, Forecast
Loss Contingencies [Line Items]
Fund available pursuant to the commitment for construction	1,100,000
Sequel
Loss Contingencies [Line Items]
Fund available pursuant to the commitment for construction	$ 2,300,000
Mortgage notes receivable, net			$ 1,900,000
Sequel | Maximum
Loss Contingencies [Line Items]
Mortgage notes receivable, net						$ 6,000,000	$ 6,000,000

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Future Minimum Payments for Operating Leases (Details) $ in Thousands	Dec. 31, 2017USD ($)
Commitments And Contingencies Disclosure [Abstract]
2,018	$ 342
2,019	351
2,020	203
2,021	176
2,022	179
Thereafter	19,800
Total	$ 21,051

Equity - Additional Information

Equity - Additional Information (Details)

Feb. 07, 2018$ / shares

Jan. 30, 2017

Oct. 04, 2016USD ($)

Apr. 02, 2015USD ($)$ / sharesshares

Sep. 30, 2017$ / shares

Jun. 30, 2017$ / shares

Mar. 31, 2017$ / shares

Dec. 31, 2016USD ($)$ / shares

Sep. 30, 2016$ / shares

Jun. 30, 2016$ / shares

Mar. 31, 2016$ / shares

Dec. 31, 2017USD ($)Director$ / sharesshares

Dec. 31, 2016USD ($)$ / sharesshares

Dec. 31, 2015USD ($)$ / sharesshares

Dec. 31, 2014shares

Mar. 11, 2015$ / shares

Class Of Stock [Line Items]

Dividends declared per common share | $ / shares

$ 0.84

$ 0.63

$ 0.85

Dividend payment date

Jan. 14, 2016

Dividend record date

Dec. 31, 2015

Investment in subsidiary by noncontrolling interest

$ 1,000,000

Lakeway mortgage note receivable foreclosure

$ 50,000,000

Interest-only loan interest rate

9.60%

Restricted Stock

Class Of Stock [Line Items]

Granted | shares

115,030

88,915

158,396

BlueMountain Capital Management LLC | Board of Directors | Restricted Stock

Class Of Stock [Line Items]

Number of directors designated | Director

2

Granted | shares

16,108

16,108

Forfeited vested shares | shares

10,740

Common stock repurchased and cancelled, shares | shares

5,368

Common stock repurchased and cancelled, value

$ 50,000

Repayment of dividends

$ 29,000

Common Stock

Class Of Stock [Line Items]

Dividends declared per common share | $ / shares

$ 0.21

$ 0.21

$ 0.21

$ 0.21

$ 0.21

$ 0.21

$ 0.21

$ 0.84

$ 0.63

Dividend declaration date

Nov. 1, 2017

Aug. 2, 2017

May 3, 2017

Jan. 3, 2017

Sep. 15, 2016

Aug. 3, 2016

Apr. 28, 2016

Dividend payment date

Nov. 29, 2017

Aug. 30, 2017

May 31, 2017

Jan. 31, 2017

Oct. 4, 2016

Aug. 30, 2016

May 19, 2016

Dividend record date

Nov. 15, 2017

Aug. 16, 2017

May 17, 2017

Jan. 17, 2017

Sep. 23, 2016

Aug. 17, 2016

May 10, 2016

Common stock repurchased and cancelled, shares | shares

11,000

Common Stock | Subsequent Event

Class Of Stock [Line Items]

Dividends declared per common share | $ / shares

$ 0.21

Dividend declaration date

Feb. 7, 2018

Dividend payment date

Mar. 5, 2018

Dividend record date

Feb. 19, 2018

7.875% Series B Redeemable Cumulative Preferred Stock

Class Of Stock [Line Items]

Preferred stock dividend rate

7.875%

Liquidation preference per share | $ / shares

$ 1,000

7.875% Series B Redeemable Cumulative Preferred Stock | IPO

Class Of Stock [Line Items]

Preferred stock redemption amount

$ 131,300,000

Preferred stock special dividend redemption rate percentage

5.00%

Accrued and unpaid dividends

$ 900,000

Carter Validus | 7.875% Series B Redeemable Cumulative Preferred Stock

Class Of Stock [Line Items]

Preferred stock shares sold | shares

125,000

Preferred stock dividend rate

7.875%

Liquidation preference per share | $ / shares

$ 1,000

$ 1,000

Preferred stock gross proceeds

$ 125,000,000

Lakeway Partnership

Class Of Stock [Line Items]

Cash contribution

$ 2,000,000

Ownership percentage by parent

51.00%

Equity method investment ownership percentage

49.00%

Investment in subsidiary by noncontrolling interest

$ 1,000,000

Lakeway mortgage note receivable foreclosure

50,000,000

Additional cash contribution to acquire real estate

$ 23,000,000

Intercompany Mortgage Loan, term

10 years

Interest-only loan interest rate

8.00%

Intercompany Mortgage Loan, amortization schedule

25 years

Intercompany Mortgage Loan, outstanding principal balance

$ 71,800,000

$ 70,700,000

$ 71,800,000

Lakeway Partnership | First Mortgage

Class Of Stock [Line Items]

Intercompany Mortgage Loan

$ 73,000,000

Equity - Schedule of Common Sto

Equity - Schedule of Common Stock Dividend (Details) - $ / shares	3 Months Ended							12 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Class Of Stock [Line Items]
Quarterly Dividend								$ 0.84	$ 0.63	$ 0.85
Date of Record									Dec. 31, 2015
Date Paid									Jan. 14, 2016
Common Stock
Class Of Stock [Line Items]
Quarterly Dividend	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.84	$ 0.63
Date of Declaration	Nov. 1, 2017	Aug. 2, 2017	May 3, 2017	Jan. 3, 2017	Sep. 15, 2016	Aug. 3, 2016	Apr. 28, 2016
Date of Record	Nov. 15, 2017	Aug. 16, 2017	May 17, 2017	Jan. 17, 2017	Sep. 23, 2016	Aug. 17, 2016	May 10, 2016
Date Paid	Nov. 29, 2017	Aug. 30, 2017	May 31, 2017	Jan. 31, 2017	Oct. 4, 2016	Aug. 30, 2016	May 19, 2016

Distributions - Federal Income

Distributions - Federal Income Tax Classification of Per Share Common Stock Distributions (Details) - $ / shares	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Distributions [Abstract]
Ordinary taxable distributions	$ 0.66	$ 0.22	$ 0.68
Return of capital	0.18	0.70
Total	$ 0.84	$ 0.92	$ 0.68

Distributions - Additional Info

Distributions - Additional Information (Details)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Distributions [Abstract]
Percentage of distribution from taxable income in order to qualify REIT	90.00%
Dividend payment date		Jan. 14, 2016
Date of Record		Dec. 31, 2015

Earnings Per Share - Computatio

Earnings Per Share - Computation of Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Earnings Per Share [Abstract]
Net income	$ 6,679	$ 6,266	$ 5,732	$ 5,475	$ 5,376	$ 4,734	$ (3,645)	$ 4,851	$ 24,152	$ 11,316	$ 16,730
Less: Net income attributable to noncontrolling interest	(909)	(941)	(936)	(944)	(931)	(821)	2,841	(1,355)	(3,730)	(266)	(4,029)
Less: Preferred stock dividends					(6,366)	(2,464)	(2,465)	(2,465)		(13,760)	(7,835)
Net income (loss) attributable to common stockholders	$ 5,770	$ 5,325	$ 4,796	$ 4,531	$ (1,921)	$ 1,449	$ (3,269)	$ 1,031	20,422	(2,710)	4,866
Less: Allocation to participating securities									(265)	(182)	(216)
Net income (loss) available to common stockholders									$ 20,157	$ (2,892)	$ 4,650
Basic weighted-average common shares									31,447	15,838	10,948
Dilutive potential common shares									37
Diluted weighted-average common shares									31,484	15,838	10,948
Earnings (loss) per common share- basic and diluted	$ 0.18	$ 0.17	$ 0.15	$ 0.14	$ (0.06)	$ 0.12	$ (0.30)	$ 0.09	$ 0.64	$ (0.18)	$ 0.42

Fair Value of Financial Instr69

Fair Value of Financial Instruments - Additional information (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Financial assets measured at fair value		$ 0
Financial liabilities measured at fair value		0
Mortgage notes receivable, gross	$ 18,600,000	10,000,000
Estimated Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of mortgage note receivable	18,700,000	$ 10,000,000
Interest Rate Swap Agreements | Other assets, net
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of derivative financial instruments	$ 1,200,000

Selected Interim Financial Da70

Selected Interim Financial Data (unaudited) - Summary of Unaudited Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 16,232	$ 15,766	$ 14,825	$ 14,282	$ 14,010	$ 13,845	$ 6,593	$ 14,848	$ 61,105	$ 49,296	$ 44,438
Interest expense	(2,261)	(2,117)	(1,808)	(1,515)	(1,740)	(2,792)	(3,226)	(3,125)	(7,701)	(10,883)	(7,163)
Net income (loss)	6,679	6,266	5,732	5,475	5,376	4,734	(3,645)	4,851	24,152	11,316	16,730
Preferred stock dividends					(6,366)	(2,464)	(2,465)	(2,465)		(13,760)	(7,835)
Net (income) loss attributable to noncontrolling interest	(909)	(941)	(936)	(944)	(931)	(821)	2,841	(1,355)	(3,730)	(266)	(4,029)
Net income (loss) attributable to common stockholders	$ 5,770	$ 5,325	$ 4,796	$ 4,531	$ (1,921)	$ 1,449	$ (3,269)	$ 1,031	$ 20,422	$ (2,710)	$ 4,866
Net income (loss) attributable to common stockholders per share
Basic and diluted	$ 0.18	$ 0.17	$ 0.15	$ 0.14	$ (0.06)	$ 0.12	$ (0.30)	$ 0.09	$ 0.64	$ (0.18)	$ 0.42

Schedule III Real Estate and 71

Schedule III Real Estate and Accumulated Depreciation (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)Property	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Real Estate And Accumulated Depreciation [Line Items]
Initial Cost to Company, Land	$ 43,177
Initial Cost to Company, Building and improvements and intangible lease assets	515,894
Initial Cost to Company, Furniture, fixtures, and equipment	3,532
Cost Capitalized Subsequent to Acquisition	1,125
Gross Amount at Which Carried at Close of Period, Land	43,180
Gross Amount at Which Carried at Close of Period, Building and improvements and intangible lease assets	517,010
Gross Amount at Which Carried at Close of Period, Furniture, fixtures, and equipment	3,538
Gross Amount at Which Carried at Close of Period, Total	563,728	$ 494,874	$ 504,853	$ 113,168
Accumulated Depreciation	$ (41,984)	$ (26,052)	$ (11,172)	$ (1,268)
Texas SNF Portfolio | TX | SNF
Real Estate And Accumulated Depreciation [Line Items]
Number of Properties | Property	10
Initial Cost to Company, Land	$ 4,325
Initial Cost to Company, Building and improvements and intangible lease assets	140,815
Cost Capitalized Subsequent to Acquisition	2
Gross Amount at Which Carried at Close of Period, Land	4,325
Gross Amount at Which Carried at Close of Period, Building and improvements and intangible lease assets	140,817
Gross Amount at Which Carried at Close of Period, Total	145,142
Accumulated Depreciation	$ (10,646)
Date Acquired	2,015
Texas SNF Portfolio | TX | Minimum | SNF
Real Estate And Accumulated Depreciation [Line Items]
Date of Construction	1,963
Texas SNF Portfolio | TX | Maximum | SNF
Real Estate And Accumulated Depreciation [Line Items]
Date of Construction	2,013
Life Generations Portfolio | CA | SNF/ALF
Real Estate And Accumulated Depreciation [Line Items]
Number of Properties | Property	6
Initial Cost to Company, Land	$ 18,338
Initial Cost to Company, Building and improvements and intangible lease assets	75,592
Initial Cost to Company, Furniture, fixtures, and equipment	2,748
Cost Capitalized Subsequent to Acquisition	18
Gross Amount at Which Carried at Close of Period, Land	18,341
Gross Amount at Which Carried at Close of Period, Building and improvements and intangible lease assets	75,607
Gross Amount at Which Carried at Close of Period, Furniture, fixtures, and equipment	2,748
Gross Amount at Which Carried at Close of Period, Total	96,696
Accumulated Depreciation	$ (8,958)
Date Acquired	2,015
Life Generations Portfolio | CA | Minimum | SNF/ALF
Real Estate And Accumulated Depreciation [Line Items]
Date of Construction	1,966
Life Generations Portfolio | CA | Maximum | SNF/ALF
Real Estate And Accumulated Depreciation [Line Items]
Date of Construction	1,992
Lakeway Hospital | TX | Acute Care Hospital
Real Estate And Accumulated Depreciation [Line Items]
Number of Properties | Property	1
Initial Cost to Company, Land	$ 5,181
Initial Cost to Company, Building and improvements and intangible lease assets	69,875
Gross Amount at Which Carried at Close of Period, Land	5,181
Gross Amount at Which Carried at Close of Period, Building and improvements and intangible lease assets	69,875
Gross Amount at Which Carried at Close of Period, Total	75,056
Accumulated Depreciation	$ (4,424)
Date of Construction	2,012
Date Acquired	2,015
Kentfield Rehabilitation & Specialty Hospital | CA | LTACH
Real Estate And Accumulated Depreciation [Line Items]
Number of Properties | Property	1
Initial Cost to Company, Land	$ 6,204
Initial Cost to Company, Building and improvements and intangible lease assets	51,826
Gross Amount at Which Carried at Close of Period, Land	6,204
Gross Amount at Which Carried at Close of Period, Building and improvements and intangible lease assets	51,826
Gross Amount at Which Carried at Close of Period, Total	58,030
Accumulated Depreciation	$ (5,031)
Date of Construction	1,962
Date Acquired	2,014
Mountains' Edge Hospital | NV | Acute Care Hospital
Real Estate And Accumulated Depreciation [Line Items]
Number of Properties | Property	1
Initial Cost to Company, Land	$ 2,296
Initial Cost to Company, Building and improvements and intangible lease assets	27,116
Cost Capitalized Subsequent to Acquisition	635
Gross Amount at Which Carried at Close of Period, Land	2,296
Gross Amount at Which Carried at Close of Period, Building and improvements and intangible lease assets	27,751
Gross Amount at Which Carried at Close of Period, Total	30,047
Accumulated Depreciation	$ (1,689)
Date of Construction	2,015
Date Acquired	2,015
AAC Portfolio | TX, NV | BH
Real Estate And Accumulated Depreciation [Line Items]
Number of Properties | Property	4
Initial Cost to Company, Land	$ 2,026
Initial Cost to Company, Building and improvements and intangible lease assets	23,021
Gross Amount at Which Carried at Close of Period, Land	2,026
Gross Amount at Which Carried at Close of Period, Building and improvements and intangible lease assets	23,021
Gross Amount at Which Carried at Close of Period, Total	25,047
Accumulated Depreciation	$ (365)
Date Acquired	2,017
AAC Portfolio | TX, NV | Minimum | BH
Real Estate And Accumulated Depreciation [Line Items]
Date of Construction	1,980
AAC Portfolio | TX, NV | Maximum | BH
Real Estate And Accumulated Depreciation [Line Items]
Date of Construction	2,001
Horizon Specialty Hospital of Henderson | NV | LTACH
Real Estate And Accumulated Depreciation [Line Items]
Number of Properties | Property	1
Initial Cost to Company, Land	$ 733
Initial Cost to Company, Building and improvements and intangible lease assets	19,277
Gross Amount at Which Carried at Close of Period, Land	733
Gross Amount at Which Carried at Close of Period, Building and improvements and intangible lease assets	19,277
Gross Amount at Which Carried at Close of Period, Total	20,010
Accumulated Depreciation	$ (1,838)
Date of Construction	2,012
Date Acquired	2,014
Physical Rehabilitation and Wellness Center of Spartanburg | South Carolina | SNF
Real Estate And Accumulated Depreciation [Line Items]
Number of Properties | Property	1
Initial Cost to Company, Land	$ 170
Initial Cost to Company, Building and improvements and intangible lease assets	19,830
Gross Amount at Which Carried at Close of Period, Land	170
Gross Amount at Which Carried at Close of Period, Building and improvements and intangible lease assets	19,830
Gross Amount at Which Carried at Close of Period, Total	20,000
Accumulated Depreciation	$ (1,815)
Date of Construction	1,989
Date Acquired	2,014
Vibra Rehabilitation Hospital of Amarillo | TX | IRF
Real Estate And Accumulated Depreciation [Line Items]
Number of Properties | Property	1
Initial Cost to Company, Land	$ 991
Initial Cost to Company, Building and improvements and intangible lease assets	18,181
Initial Cost to Company, Furniture, fixtures, and equipment	227
Gross Amount at Which Carried at Close of Period, Land	991
Gross Amount at Which Carried at Close of Period, Building and improvements and intangible lease assets	18,181
Gross Amount at Which Carried at Close of Period, Furniture, fixtures, and equipment	227
Gross Amount at Which Carried at Close of Period, Total	19,399
Accumulated Depreciation	$ (2,121)
Date of Construction	1,990
Date Acquired	2,015
Advanced Diagnostics Hospital East | TX | Acute Care Hospital
Real Estate And Accumulated Depreciation [Line Items]
Number of Properties | Property	1
Initial Cost to Company, Land	$ 863
Initial Cost to Company, Building and improvements and intangible lease assets	16,668
Gross Amount at Which Carried at Close of Period, Land	863
Gross Amount at Which Carried at Close of Period, Building and improvements and intangible lease assets	16,668
Gross Amount at Which Carried at Close of Period, Total	17,531
Accumulated Depreciation	$ (61)
Date of Construction	1,998
Date Acquired	2,017
Mira Vista Court | TX | SNF
Real Estate And Accumulated Depreciation [Line Items]
Number of Properties | Property	1
Initial Cost to Company, Land	$ 1,343
Initial Cost to Company, Building and improvements and intangible lease assets	14,657
Gross Amount at Which Carried at Close of Period, Land	1,343
Gross Amount at Which Carried at Close of Period, Building and improvements and intangible lease assets	14,657
Gross Amount at Which Carried at Close of Period, Total	16,000
Accumulated Depreciation	$ (1,319)
Date of Construction	2,013
Date Acquired	2,015
North Brownsville Medical Plaza | TX | MOB
Real Estate And Accumulated Depreciation [Line Items]
Number of Properties | Property	1
Initial Cost to Company, Building and improvements and intangible lease assets	$ 15,128
Cost Capitalized Subsequent to Acquisition	470
Gross Amount at Which Carried at Close of Period, Building and improvements and intangible lease assets	15,592
Gross Amount at Which Carried at Close of Period, Furniture, fixtures, and equipment	6
Gross Amount at Which Carried at Close of Period, Total	15,598
Accumulated Depreciation	$ (3,049)
Date of Construction	2,007
Date Acquired	2,014
Magnolia Portfolio | IN | SNF
Real Estate And Accumulated Depreciation [Line Items]
Number of Properties | Property	2
Initial Cost to Company, Land	$ 217
Initial Cost to Company, Building and improvements and intangible lease assets	14,265
Initial Cost to Company, Furniture, fixtures, and equipment	557
Gross Amount at Which Carried at Close of Period, Land	217
Gross Amount at Which Carried at Close of Period, Building and improvements and intangible lease assets	14,265
Gross Amount at Which Carried at Close of Period, Furniture, fixtures, and equipment	557
Gross Amount at Which Carried at Close of Period, Total	15,039
Accumulated Depreciation	$ (348)
Date Acquired	2,017
Magnolia Portfolio | IN | Minimum | SNF
Real Estate And Accumulated Depreciation [Line Items]
Date of Construction	1,983
Magnolia Portfolio | IN | Maximum | SNF
Real Estate And Accumulated Depreciation [Line Items]
Date of Construction	1,986
Woodlake at Tolland Nursing and Rehabilitation | CT | SNF
Real Estate And Accumulated Depreciation [Line Items]
Number of Properties | Property	1
Initial Cost to Company, Land	$ 490
Initial Cost to Company, Building and improvements and intangible lease assets	9,643
Gross Amount at Which Carried at Close of Period, Land	490
Gross Amount at Which Carried at Close of Period, Building and improvements and intangible lease assets	9,643
Gross Amount at Which Carried at Close of Period, Total	10,133
Accumulated Depreciation	$ (320)
Date of Construction	1,992
Date Acquired	2,017

Schedule III Real Estate and 72

Schedule III Real Estate and Accumulated Depreciation - Changes in Total Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cost
Balance at beginning of period	$ 494,874	$ 504,853	$ 113,168
Acquisitions	55,250		323,685
Capitalized costs	1,104	21
Foreclosure of mortgage note			50,000
Conversion of mortgage note	12,500		18,000
Elimination of earn-out payment		(10,000)
Balance at end of period	563,728	494,874	504,853
Accumulated Depreciation
Balance at beginning of period	26,052	11,172	1,268
Depreciation	15,932	14,880	9,904
Balance at end of period	$ 41,984	$ 26,052	$ 11,172

Schedule III Real Estate and 73

Schedule III Real Estate and Accumulated Depreciation (Parenthetical) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)
Real Estate And Accumulated Depreciation [Line Items]
Aggregate net tax value of real estate assets for federal income tax purposes	$ 529
Minimum | Lease Intangibles
Real Estate And Accumulated Depreciation [Line Items]
Estimated useful lives of assets	2 years 8 months 12 days
Maximum | Lease Intangibles
Real Estate And Accumulated Depreciation [Line Items]
Estimated useful lives of assets	15 years
Building and Improvements | Minimum
Real Estate And Accumulated Depreciation [Line Items]
Estimated useful lives of assets	2 years
Building and Improvements | Maximum
Real Estate And Accumulated Depreciation [Line Items]
Estimated useful lives of assets	50 years
Furniture, Fixtures, and Equipment | Minimum
Real Estate And Accumulated Depreciation [Line Items]
Estimated useful lives of assets	5 years
Furniture, Fixtures, and Equipment | Maximum
Real Estate And Accumulated Depreciation [Line Items]
Estimated useful lives of assets	14 years

Schedule IV Mortgage Loans Re74

Schedule IV Mortgage Loans Receivable on Real Estate (Details) - USD ($) $ in Thousands		Jan. 30, 2017	Dec. 31, 2017		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Mortgage Loans On Real Estate [Line Items]
Interest rate		9.60%
Mortgage Loans on Real Estate			$ 18,635
Mortgage Loans on Real Estate, outstanding principal balance			$ 18,635	[1]	$ 10,000	$ 10,000	$ 78,000
First Mortgage | Springfield, Massachusetts | Rehabilitation Hospital
Mortgage Loans On Real Estate [Line Items]
Interest rate			9.00%
Final maturity date			Jul. 31, 2034
Mortgage Loans on Real Estate			$ 10,000
Mortgage Loans on Real Estate, outstanding principal balance	[1]		$ 10,000
First Mortgage | Webster, Texas | Integrated Medical Facility
Mortgage Loans On Real Estate [Line Items]
Interest rate			10.00%
Final maturity date			Apr. 1, 2018
Mortgage Loans on Real Estate			$ 6,700
Mortgage Loans on Real Estate, outstanding principal balance	[1]		$ 6,700
First Mortgage | Andersonville, Tennessee | Psychiatric Residential Treatment Facility
Mortgage Loans On Real Estate [Line Items]
Interest rate			8.25%
Final maturity date			Dec. 31, 2018
Mortgage Loans on Real Estate			$ 1,935
Mortgage Loans on Real Estate, outstanding principal balance	[1]		$ 1,935
[1]	Carrying amount of mortgages represents the contractual amount due under the mortgage note as of the date of this Schedule IV and excludes any other fees or costs associated with the mortgage notes and their origination. The aggregate cost for federal income tax purposes as of December 31, 2017 is estimated to be $18.6 million.

Schedule IV Mortgage Loans Re75

Schedule IV Mortgage Loans Receivable on Real Estate (Parenthetical) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)
Mortgage Loans On Real Estate [Line Items]
Mortgage Loans on Real Estate	$ 18,635
Aggregate cost for federal income tax purposes	18,600
Vibra Healthcare, LLC or Vibra Healthcare II, LLC
Mortgage Loans On Real Estate [Line Items]
Sale-leaseback transaction, net	$ 25,000
Springfield, Massachusetts
Mortgage Loans On Real Estate [Line Items]
Loans, Interest-only period	5 years
Loans, Amortization period	15 years
Andersonville, Tennessee | Maximum
Mortgage Loans On Real Estate [Line Items]
Mortgage Loans on Real Estate	$ 6,000

Schedule IV Mortgage Loans Re76

Schedule IV Mortgage Loans Receivable on Real Estate - Changes in Mortgage Loans (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017		Dec. 31, 2016	Dec. 31, 2015
Mortgage Loans On Real Estate [Abstract]
Balance at beginning of period		$ 10,000		$ 10,000	$ 78,000
Additions during year:
New mortgage loans	[1]	21,135
Mortgage loans on real estate period increase		21,135
Deductions during year:
Foreclosure of mortgage note				0	(50,000)	[2]
Conversion to fee simple ownership		(12,500)	[1]		(18,000)	[3]
Mortgage loans on real estate period decrease		(12,500)			(68,000)
Balance at end of period		$ 18,635	[4]	$ 10,000	$ 10,000
[1]	On January 30, 2017, the Company invested $12.5 million through a newly originated interest-only loan secured by a first mortgage on a licensed general acute care surgical hospital. On November 10, 2017, the Company completed the acquisition of Advanced Diagnostics Hospital East for a purchase price of $17.5 million, pursuant to the exercise of its exclusive right to purchase the property contained in the Company's $12.5 million mortgage note receivable. The $12.5 million in principal outstanding on the mortgage note receivable was applied to the purchase price, and the Company paid an additional $5.0 million in cash in satisfaction of the purchase price.
[2]	On February 3, 2015, the Company acquired an acute care hospital in Lakeway, Texas ("Lakeway Hospital"), through a negotiated, non-judicial foreclosure and payment of an additional $25.0 million in cash consideration, for a total investment of $75.0 million. The Company originally acquired a mortgage note receivable for $50.0 million on December 29, 2014, which had an outstanding principal balance of approximately $163.9 million and was secured by a first mortgage lien on Lakeway Hospital. The operator of the facility defaulted on debt service payments under the note in 2013, and the U.S. Department of Housing and Urban Development held an auction in December 2014 through which the Company acquired the mortgage note.
[3]	On October 1, 2015, the Company completed the acquisition of Vibra Rehabilitation of Amarillo for a purchase price of $19.4 million, pursuant to the exercise of its exclusive right to purchase the property contained in the Company's $18.0 million mortgage note receivable. The $18.0 million in principal outstanding on the mortgage note receivable was applied to the purchase price.
[4]	Carrying amount of mortgages represents the contractual amount due under the mortgage note as of the date of this Schedule IV and excludes any other fees or costs associated with the mortgage notes and their origination. The aggregate cost for federal income tax purposes as of December 31, 2017 is estimated to be $18.6 million.

Schedule IV Mortgage Loans Re77

Schedule IV Mortgage Loans Receivable on Real Estate - Changes in Mortgage Loans (Parenthetical) (Details) - USD ($) $ in Thousands	Nov. 10, 2017	Oct. 02, 2015	Feb. 03, 2015	Dec. 31, 2017	Jan. 30, 2017	Dec. 31, 2016	Dec. 29, 2014
Mortgage Loans On Real Estate [Line Items]
Mortgage notes receivable, net				$ 18,557	$ 12,500	$ 9,915
Vibra Rehabilitation Hospital of Amarillo
Mortgage Loans On Real Estate [Line Items]
Mortgage notes receivable, net		$ 18,000
Aggregate purchase price		$ 19,400
Texas
Mortgage Loans On Real Estate [Line Items]
Aggregate purchase price				$ 41,100
Lakeway Hospital | Texas | Acute Care Hospital
Mortgage Loans On Real Estate [Line Items]
Cash consideration			$ 25,000
Business acquisitions, date of acquisition				Feb. 3, 2015
Aggregate purchase price			$ 75,000
Notes receivable acquired							$ 50,000
Outstanding principle balance of notes receivable acquired							$ 163,900
Advanced Diagnostics Hospital East
Mortgage Loans On Real Estate [Line Items]
Mortgage notes receivable, net	$ 12,500
Aggregate purchase price	17,500
Cash consideration	$ 5,000