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Real Estate Properties (Tables)
 9 Months Ended
Sep. 30, 2015
Senior living communities  
Real Estate Properties  
Schedule of real estate property acquisition

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

    

 

 

    

    

    

    

    

Cash Paid

    

    

 

    

    

 

    

    

 

    

 

    

    

 

    

    

 

    

(Premium) /

 

 

 

 

 

 

Number

 

 

 

plus

 

 

 

 

 

 

 

 

 

Acquired

 

 

 

 

 

 

 

Discount

 

 

 

 

Leased /

 

of

 

Units /

 

Assumed

 

 

 

 

Buildings and

 

 

 

Real Estate

 

Other

 

Assumed

 

on Assumed

Date

 

Location

 

Managed

 

Properties

 

Beds

 

Debt (1)

 

Land

 

Improvements

 

FF&E

 

Leases

 

Liabilities

 

Debt

 

Debt

May-15

 

11 States

 

Leased

 

18

 
2,119

 

$
459,183

 

$
29,715

 

$
373,471

 

$
21,117

 

$
54,096

 

$
(18,091)

 

$
(44,395)

 

$
(1,125)

May-15

 

5 States

 

Managed

 

19

 
1,233

 

 
313,345

 

 
12,267

 

 
214,064

 

 
12,342

 

 
73,840

 

 

 —

 

 
(94,786)

 

 
832

Sep-15

 

NC

 

Leased

 

1

 
87

 

 
17,548

 

 
1,134

 

 
13,749

 

 
1,022

 

 
2,208

 

 

 —

 

 
(12,297)

 

 
(565)

Subtotal 38 senior living communities portfolio

 

38

 

3,439

 

 

790,076

 

 

43,117

 

 
601,284

 

 

34,481

 

 

130,145

 

 

(18,091)

 

 

(151,477)

 

 
(858)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sep-15

 

GA

 

Leased

 

1

 
84

 

 
18,250

 

 
1,825

 

 
16,425

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

May-15

 

GA

 

Managed

 

    — (2)

 
40

 

 
8,750

 

 
993

 

 
8,169

 

 
427

 

 
161

 

 
(1,000)

 

 

 —

 

 

 —

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

39

 

3,563

 

$

817,076

 

$

45,935

 

$
625,878

 

$

34,907

 

$

130,305

 

$

(19,091)

 

$

(151,477)

 

$
(858)

(1)

These amounts include the cash we paid plus the debt we assumed, if any, as well as various closing settlement adjustments, but exclude closing costs.  The allocation of the purchase price of these acquisitions shown above is based upon preliminary estimates of the fair value of assets acquired and liabilities assumed.  These amounts preliminarily allocated to assets acquired and liabilities assumed may change from those used in these condensed consolidated financial statements.

(2)

This senior living community is adjacent to another community that we own which is managed by Five Star. The operations of this community and the community already owned are now conducted as a single integrated community under one management agreement.

 

MOBs  
Real Estate Properties  
Schedule of real estate property acquisition

 

    

    

    

    

    

    

    

Cash Paid

    

    

 

    

    

 

    

    

 

    

Acquired

    

    

 

    

    

 

 

 

 

 

 

Number

 

 

 

plus

 

 

 

 

 

 

 

Acquired

 

Real Estate

 

 

 

 

Premium

 

 

 

 

 

of

 

Square

 

Assumed

 

 

 

 

Buildings and

 

Real Estate

 

Lease

 

Assumed

 

on Assumed

 

Date

 

Location

 

Properties

 

Feet (000’s)

 

Debt (1)

 

Land

 

Improvements

 

Leases

 

Obligations

 

Debt

 

Debt

 

Jan-15

 

12 States

 

23

 
2,170

 

$
531,623

 

$
58,294

 

$
392,205

 

$
85,496

 

$
(3,298)

 

$
(29,955)

 

$
(1,074)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

23

 
2,170

 

$
531,623

 

$
58,294

 

$
392,205

 

$
85,496

 

$
(3,298)

 

$
(29,955)

 

$
(1,074)

 

 

(1)

This amount includes the cash we paid plus the debt we assumed, if any, as well as various closing settlement adjustments, but excludes closing costs.  The allocation of the purchase price of these acquisitions shown above is based upon preliminary estimates of the fair value of assets acquired and liabilities assumed.  These amounts preliminarily allocated to assets acquired and liabilities assumed may change from those used in these condensed consolidated financial statements.
Discontinued Operations, Held-for-sale or Disposed of by Sale  
Real Estate Properties  
Schedule of summarized income statement information for the seven MOBs that meet the criteria for discontinued operations included in discontinued operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

 

September 30,

 

September 30,

 

 

    

2015

    

2014

    

2015

    

2014

 

Rental income

 

$

 —

 

$
111

 

$
56

 

$
3,837

 

Property operating expenses

 

 

 —

 

 
(668)

 

 
(406)

 

 
(2,353)

 

(Loss) income from discontinued operations

 

$

 —

 

$
(557)

 

$
(350)

 

$
1,484