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Subsequent Events
3 Months Ended
Mar. 31, 2018
Subsequent Events  
Subsequent Events

12.Subsequent Events

 

Subsequent to March 31, 2018 the following events occurred:

Real Estate:  We sold a portfolio of six assisted living communities in Ohio and Pennsylvania with a total of 320 units for an aggregate price of $67,500,000. These properties have a combined net book value of approximately $16,350,000. As a result of this transaction, we expect to recognize a net gain on sale of approximately $48,000,000. These properties were classified as held-for-sale during the first quarter of 2018. See Note 2. Real Estate Investments for more information. 

Debt: We repaid $65,000,000 under our unsecured revolving line of credit. Accordingly, we have $55,500,000 outstanding under our unsecured revolving line of credit with $544,500,000 available for borrowing.

Equity: We declared a monthly cash dividend of $0.19 per share on our common stock for the months of April, May and June 2018, payable on April 30, May 31, and June 29, 2018, respectively to stockholders of record on April 20, May 23, and June 21, 2018, respectively.