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Subsequent Events | 3 Months Ended
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Mar. 31, 2012
Subsequent Events |
Subsequent Events |
12. Subsequent Events Subsequent to March 31, 2012 the following events occurred. We declared a monthly cash dividend of $0.145 per share on our common stock for the months of April, May and June 2012, payable on April 30, May 31 and June 29, 2012, respectively, to stockholders of record on April 20, May 23 and June 21, 2012, respectively. We received $2,264,000 plus accrued interest related to the payoff of a mortgage loan secured by 90-bed skilled nursing property located in Florida. Also, we received $135,000 plus accrued interest related to the early payoff of a mortgage loan secured by a 124-bed skilled nursing property in California. On April 12, 2012, SHG announced that they will redeem all of its outstanding Senior Subordinated Notes at par value plus accrued and unpaid interest up to the redemption date of May 12, 2012. At March 31, 2012, we had a $6,500,000 face value investment in SHG Senior Subordinated Notes. We received $347,000 relating to the Sunwest bankruptcy settlement distribution. In April 2012, we committed to provide a $1,700,000 capital improvement commitment on two skilled nursing properties. The commitment includes interest compounded at 9% on each advance made from the disbursement date until either the final distribution of the commitment or the maturity date in April 2013. Upon final distribution or maturity of the capital improvement commitment, minimum rent shall increase by the total commitment funded multiplied by 9%. In April 2012, we funded $86,000 under this agreement.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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