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Investments in Real Estate (Tables)
 12 Months Ended
Dec. 31, 2016
Banking And Thrift [Abstract]  
Summary of Investments in Real Estate

The table below summarizes our investments in real estate:

 

 

 

2016

 

 

2015

 

 

Depreciable Lives

(In years)

Land

 

$

165,120

 

 

$

190,585

 

 

-

Building

 

 

1,066,611

 

 

 

1,168,453

 

 

40

Furniture, fixtures and equipment

 

 

17,625

 

 

 

12,977

 

 

5-10

Total investment in real estate

 

$

1,249,356

 

 

$

1,372,015

 

 

 

Accumulated depreciation

 

 

(51,511

)

 

 

(39,638

)

 

 

Investments in real estate, net

 

$

1,197,845

 

 

$

1,332,377

 

 

 

 
Summary of Disposition of Property's

The below table summarizes the dispositions for the year ended December 31, 2016 and also presents each property’s contribution to net income (loss) allocable to common shares, excluding the impact of the gain (loss) on sale

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) allocable to common shares

 

Property Name

 

Date of Sale

 

Sale Price

 

 

Gain (loss) on sale

 

 

For the Year Ended December 31, 2016

 

Cumberland Glen (1)

 

02/18/2016

 

$

18,000

 

 

$

2,452

 

 

$

35

 

Belle Creek

 

04/07/2016

 

 

23,000

 

 

 

14,191

 

 

 

252

 

Tresa

 

05/05/2016

 

 

47,000

 

 

 

15,142

 

 

 

354

 

Total

 

 

 

$

88,000

 

 

$

31,785

 

 

$

641

 

 

(1)

Gain (loss) on sale related to this property includes a defeasance premium of $1,343.