
	For the Three Months Ended September 30, 2014
	Triple Net
	Leased		Managed
	Senior Living		Senior Living				All Other
	Communities		Communities		MOBs		Operations		Consolidated

Revenues:
Rental income	$	55,266	$	—	$	77,798	$	4,550	$	137,614
Residents fees and services		—		79,259		—		—		79,259
Total revenues		55,266		79,259		77,798		4,550		216,873

Expenses:
Property operating expenses		—		61,330		21,376		—		82,706
Depreciation		15,372		8,006		25,748		948		50,074
General and administrative		—		—		—		10,384		10,384
Acquisition related costs		—		—		—		15		15
Total expenses		15,372		69,336		47,124		11,347		143,179

Operating income (loss)		39,894		9,923		30,674		(6,797)		73,694

Interest and other income		—		—		—		78		78
Interest expense		(6,446)		(2,416)		(1,484)		(25,855)		(36,201)
Income (loss) before income tax expense and equity in earnings of an investee		33,448		7,507		29,190		(32,574)		37,571
Income tax expense		—		—		—		(156)		(156)
Equity in earnings of an investee		—		—		—		38		38
Income (loss) from continuing operations		33,448		7,507		29,190		(32,692)		37,453
Discontinued operations:
Loss from discontinued operations		—		—		(557)		—		(557)
Impairment of assets from discontinued operations		—		—		216		—		216
Net income (loss)	$	33,448	$	7,507	$	28,849	$	(32,692)	$	37,112

Total assets	$	1,823,234	$	899,545	$	2,953,668	$	312,675	$	5,989,122


	For the Three Months Ended September 30, 2013
	Triple Net
	Leased		Managed
	Senior Living		Senior Living				All Other
	Communities		Communities		MOBs		Operations		Consolidated

Revenues:
Rental income	$	57,073	$	—	$	50,910	$	4,336	$	112,319
Residents fees and services		—		74,946		—		—		74,946
Total revenues		57,073		74,946		50,910		4,336		187,265

Expenses:
Property operating expenses		—		57,708		17,021		—		74,729
Depreciation		16,760		7,251		13,514		948		38,473
General and administrative		—		—		—		7,798		7,798
Acquisition related costs		—		—		—		396		396
Total expenses		16,760		64,959		30,535		9,142		121,396

Operating income (loss)		40,313		9,987		20,375		(4,806)		65,869

Interest and other income		—		—		—		42		42
Interest expense		(6,546)		(3,054)		(1,369)		(18,436)		(29,405)
Loss on early extinguishment of debt		—		—		—		(692)		(692)
Income (loss) before income tax expense and equity in earnings of an investee		33,767		6,933		19,006		(23,892)		35,814
Income tax expense		—		—		—		(125)		(125)
Equity in earnings of an investee		—		—		—		64		64
Income (loss) from continuing operations		33,767		6,933		19,006		(23,953)		35,753
Discontinued operations:
Income from discontinued operations		—		—		1,231		—		1,231
Income (loss) before gain on sale of properties		33,767		6,933		20,237		(23,953)		36,984
Gain on sale of properties		1,141		—		—		—		1,141
Net income (loss)	$	34,908	$	6,933	$	20,237	$	(23,953)	$	38,125

Total assets	$	1,861,729	$	967,187	$	1,732,217	$	246,197	$	4,807,330


	For the Nine Months Ended September 30, 2014
	Triple Net
	Leased		Managed
	Senior Living		Senior Living				All Other
	Communities		Communities		MOBs		Operations		Consolidated

Revenues:
Rental income	$	165,321	$	—	$	198,589	$	13,429	$	377,339
Residents fees and services		—		237,740		—		—		237,740
Total revenues		165,321		237,740		198,589		13,429		615,079

Expenses:
Property operating expenses		—		182,742		57,555		—		240,297
Depreciation		46,525		24,494		61,269		2,844		135,132
General and administrative		—		—		—		28,250		28,250
Acquisition related costs		—		—		—		2,649		2,649
Total expenses		46,525		207,236		118,824		33,743		406,328

Operating income (loss)		118,796		30,504		79,765		(20,314)		208,751

Interest and other income		—		—		—		336		336
Interest expense		(19,307)		(8,210)		(4,328)		(67,368)		(99,213)
Income (loss) before income tax expense and equity in earnings of an investee		99,489		22,294		75,437		(87,346)		109,874
Income tax expense		—		—		—		(502)		(502)
Equity in earnings of an investee		—		—		—		59		59
Income (loss) from continuing operations		99,489		22,294		75,437		(87,789)		109,431
Discontinued operations:
Income from discontinued operations		—		—		1,484		—		1,484
Impairment of assets from discontinued operations		—		—		(117)		—		(117)
Income (loss) before gain on sale of properties		99,489		22,294		76,804		(87,789)		110,798
Gain on sale of properties		2,552		—		—		—		2,552
Net income (loss)	$	102,041	$	22,294	$	76,804	$	(87,789)	$	113,350

Total assets	$	1,823,234	$	899,545	$	2,953,668	$	312,675	$	5,989,122


	For the Nine Months Ended September 30, 2013
	Triple Net
	Leased		Managed
	Senior Living		Senior Living				All Other
	Communities		Communities		MOBs		Operations		Consolidated

Revenues:
Rental income	$	170,794	$	—	$	152,492	$	13,182	$	336,468
Residents fees and services		—		224,634		—		—		224,634
Total revenues		170,794		224,634		152,492		13,182		561,102

Expenses:
Property operating expenses		—		173,844		49,049		—		222,893
Depreciation		50,696		21,128		39,804		2,844		114,472
General and administrative		—		—		—		24,615		24,615
Acquisition related costs		—		—		—		2,590		2,590
Impairment of assets		4,371		—		—		1,304		5,675
Total expenses		55,067		194,972		88,853		31,353		370,245

Operating income (loss)		115,727		29,662		63,639		(18,171)		190,857

Interest and other income		—		—		—		612		612
Interest expense		(20,030)		(9,196)		(4,103)		(55,207)		(88,536)
Loss on early extinguishment of debt		—		—		—		(797)		(797)
Income (loss) before income tax expense and equity in earnings of an investee		95,697		20,466		59,536		(73,563)		102,136
Income tax expense		—		—		—		(405)		(405)
Equity in earnings of an investee		—		—		—		219		219
Income (loss) from continuing operations		95,697		20,466		59,536		(73,749)		101,950
Discontinued operations:
Income from discontinued operations		—		—		3,762		—		3,762
Impairment of assets from discontinued operations		—		—		(27,896)		—		(27,896)
Income (loss) before gain on sale of properties		95,697		20,466		35,402		(73,749)		77,816
Gain on sale of properties		1,141		—		—		—		1,141
Net income (loss)	$	96,838	$	20,466	$	35,402	$	(73,749)	$	78,957

Total assets	$	1,861,729	$	967,187	$	1,732,217	$	246,197	$	4,807,330