XML 25 R25.htm IDEA: XBRL DOCUMENT v3.3.0.814
Real Estate Properties (Details)
ft² in Thousands, $ in Thousands
1 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2015
USD ($)
ft²
property
community
building
item
May. 31, 2015
USD ($)
state
property
item
May. 31, 2015
USD ($)
state
community
item
May. 31, 2015
USD ($)
state
item
May. 31, 2015
USD ($)
state
item
Jan. 31, 2015
USD ($)
ft²
state
property
building
Dec. 31, 2014
USD ($)
community
item
Sep. 30, 2015
USD ($)
ft²
property
community
building
item
Sep. 30, 2014
USD ($)
Dec. 31, 2014
USD ($)
property
community
building
item
Real Estate Properties                    
Number of properties owned | property 428             428    
Number of buildings owned | building 452             452    
Number of states in which properties are located | item 43             43    
Assumption of mortgage notes payable               $ 181,432 $ 15,630  
Senior living communities                    
Real Estate Properties                    
Number of communities | community               19    
Senior living communities | Five Star | TRS                    
Real Estate Properties                    
Purchase price excluding closing costs and working capital adjustments         $ 9,750          
Triple Net Leased Net Senior Living Communities                    
Real Estate Properties                    
Number of communities | community     20              
Managed Senior Living Communities                    
Real Estate Properties                    
Number of communities | community                   5
Number of living units | item             395     395
Managed Senior Living Communities | Five Star                    
Real Estate Properties                    
Number of communities | community                   14
Fees paid to terminate the agreement             $ 975     $ 975
Number of living units | item             838     838
Acquisition                    
Real Estate Properties                    
Number of properties acquired or agreed to be acquired | property               23    
Assumption of mortgage notes payable           $ 29,955        
Acquisition | Senior living communities                    
Real Estate Properties                    
Number of communities | community 1   37              
Weighted average interest rate on debt (as a percent) 4.57%                  
Number of properties acquired or agreed to be acquired 39 1 39             2
Number of living units | item 3,563 40 40 40 40     3,563    
Cash Paid plus Assumed Debt, excluding closing costs $ 817,076       $ 9,750          
Intangible lease assets recorded 130,305             $ 130,305    
Other liabilities recorded (19,091) $ 1,000 $ 1,000 $ 1,000 1,000     $ (19,091)    
Assumption of mortgage notes payable (151,477)       $ 151,477          
Premium on Assumed Debt $ (858)                  
Acquisition | Senior living communities | Leasing Member                    
Real Estate Properties                    
Number of properties acquired or agreed to be acquired | property 1                  
Number of living units | item 87             87    
Cash Paid plus Assumed Debt, excluding closing costs $ 17,548                  
Intangible lease assets recorded 2,208             $ 2,208    
Assumption of mortgage notes payable (12,297)                  
Premium on Assumed Debt $ (565)                  
Acquisition | Senior living communities | Five Star                    
Real Estate Properties                    
Number of living units | item   838 838 838 838          
Acquisition | Senior living community subtotal                    
Real Estate Properties                    
Number of properties acquired or agreed to be acquired | property 38                  
Number of living units | item 3,439             3,439    
Cash Paid plus Assumed Debt, excluding closing costs $ 790,076                  
Intangible lease assets recorded 130,145             $ 130,145    
Other liabilities recorded (18,091)             $ (18,091)    
Assumption of mortgage notes payable (151,477)                  
Premium on Assumed Debt $ (858)                  
Acquisition | Triple Net Leased Net Senior Living Communities                    
Real Estate Properties                    
Number of communities | community                   19
Weighted average amortization period                   11 years 6 months
Number of states in which property is located | state   11 11 11 11          
Number of properties acquired or agreed to be acquired | property               1    
Number of living units | item 84           2,206 84   2,206
Cash Paid plus Assumed Debt, excluding closing costs               $ 18,250    
Acquisition | Triple Net Leased Net Senior Living Communities | Leasing Member                    
Real Estate Properties                    
Number of operators | item                   7
Acquisition | Managed Senior Living Communities | TRS                    
Real Estate Properties                    
Number of communities | community                   19
Number of living units | item             1,233     1,233
Acquisition | MOBs                    
Real Estate Properties                    
Purchase price excluding closing costs and working capital adjustments           $ 531,623   $ 531,623    
Weighted average interest rate on debt (as a percent)           4.73%        
Number of states in which property is located | state           12        
Number of properties acquired or agreed to be acquired | property           23   23   2
Cash Paid plus Assumed Debt, excluding closing costs           $ 539,000        
Intangible lease assets recorded $ 85,496         85,496   $ 85,496    
Assumption of mortgage notes payable           (29,955)   (29,955)   $ 15,630
Premium on Assumed Debt           $ (1,074)   $ (1,074)    
Number of buildings acquired | building           23       3
Additional consideration excluded from purchase price           $ 7,377        
Area of real estate properties (in square feet) | ft² 2,170         2,170   2,170    
Intangible lease liabilities recorded $ (3,298)         $ (3,298)   $ (3,298)    
Acquisition | MOBs | Above market lease                    
Real Estate Properties                    
Weighted average amortization period           9 years 9 months 18 days        
Acquisition | MOBs | In-place lease intangibles                    
Real Estate Properties                    
Weighted average amortization period           9 years 6 months        
Acquisition | MOBs | Below market lease                    
Real Estate Properties                    
Weighted average amortization period           11 years 1 month 6 days        
Agreement to acquire | Senior living communities                    
Real Estate Properties                    
Number of communities | community             38     38
Purchase price excluding closing costs and working capital adjustments                   $ 790,000
Net closing adjustments                   $ 76
Weighted average interest rate on debt (as a percent)       4.57%            
Number of living units | item             3,439     3,439
Assumption of mortgage notes payable         $ 151,477          
Land | Acquisition | Senior living communities                    
Real Estate Properties                    
Property plant and equipment recorded 45,935                  
Land | Acquisition | Senior living communities | Leasing Member                    
Real Estate Properties                    
Property plant and equipment recorded 1,134                  
Land | Acquisition | Senior living community subtotal                    
Real Estate Properties                    
Property plant and equipment recorded 43,117                  
Land | Acquisition | MOBs                    
Real Estate Properties                    
Property plant and equipment recorded           $ 58,294   58,294    
Buildings and improvements | Acquisition | Senior living communities                    
Real Estate Properties                    
Property plant and equipment recorded 625,878                  
Buildings and improvements | Acquisition | Senior living communities | Leasing Member                    
Real Estate Properties                    
Property plant and equipment recorded 13,749                  
Buildings and improvements | Acquisition | Senior living community subtotal                    
Real Estate Properties                    
Property plant and equipment recorded 601,284                  
Buildings and improvements | Acquisition | MOBs                    
Real Estate Properties                    
Property plant and equipment recorded           $ 392,205   $ 392,205    
Furniture, fixtures and equipment | Acquisition | Senior living communities                    
Real Estate Properties                    
Property plant and equipment recorded 34,907                  
Furniture, fixtures and equipment | Acquisition | Senior living communities | Leasing Member                    
Real Estate Properties                    
Property plant and equipment recorded 1,022                  
Furniture, fixtures and equipment | Acquisition | Senior living community subtotal                    
Real Estate Properties                    
Property plant and equipment recorded $ 34,481                  
11 States | Acquisition | Senior living communities | Leasing Member                    
Real Estate Properties                    
Number of properties acquired or agreed to be acquired | property   18                
Number of living units | item   2,119 2,119 2,119 2,119          
Cash Paid plus Assumed Debt, excluding closing costs         $ 459,183          
Intangible lease assets recorded   $ 54,096 $ 54,096 $ 54,096 54,096          
Other liabilities recorded   $ (18,091) $ (18,091) $ (18,091) (18,091)          
Assumption of mortgage notes payable         (44,395)          
Premium on Assumed Debt         (1,125)          
11 States | Land | Acquisition | Senior living communities | Leasing Member                    
Real Estate Properties                    
Property plant and equipment recorded         29,715          
11 States | Buildings and improvements | Acquisition | Senior living communities | Leasing Member                    
Real Estate Properties                    
Property plant and equipment recorded         373,471          
11 States | Furniture, fixtures and equipment | Acquisition | Senior living communities | Leasing Member                    
Real Estate Properties                    
Property plant and equipment recorded         $ 21,117          
5 States | Acquisition | Senior living communities | Non Leasing Member                    
Real Estate Properties                    
Number of properties acquired or agreed to be acquired | property   19                
Number of living units | item   1,233 1,233 1,233 1,233          
Cash Paid plus Assumed Debt, excluding closing costs         $ 313,345          
Intangible lease assets recorded   $ 73,840 $ 73,840 $ 73,840 73,840          
Assumption of mortgage notes payable         (94,786)          
Premium on Assumed Debt         832          
5 States | Land | Acquisition | Senior living communities | Non Leasing Member                    
Real Estate Properties                    
Property plant and equipment recorded         12,267          
5 States | Buildings and improvements | Acquisition | Senior living communities | Non Leasing Member                    
Real Estate Properties                    
Property plant and equipment recorded         214,064          
5 States | Furniture, fixtures and equipment | Acquisition | Senior living communities | Non Leasing Member                    
Real Estate Properties                    
Property plant and equipment recorded         $ 12,342          
Georgia | Acquisition | Senior living communities | Leasing Member                    
Real Estate Properties                    
Number of properties acquired or agreed to be acquired | property 1                  
Number of living units | item 84             84    
Cash Paid plus Assumed Debt, excluding closing costs $ 18,250                  
Georgia | Acquisition | Senior living communities | Non Leasing Member                    
Real Estate Properties                    
Number of living units | item   40 40 40 40          
Cash Paid plus Assumed Debt, excluding closing costs         $ 8,750          
Intangible lease assets recorded   $ 161 $ 161 $ 161 161          
Other liabilities recorded   $ (1,000) $ (1,000) $ (1,000) (1,000)          
Georgia | Land | Acquisition | Senior living communities | Leasing Member                    
Real Estate Properties                    
Property plant and equipment recorded 1,825                  
Georgia | Land | Acquisition | Senior living communities | Non Leasing Member                    
Real Estate Properties                    
Property plant and equipment recorded         993          
Georgia | Buildings and improvements | Acquisition | Senior living communities | Leasing Member                    
Real Estate Properties                    
Property plant and equipment recorded $ 16,425                  
Georgia | Buildings and improvements | Acquisition | Senior living communities | Non Leasing Member                    
Real Estate Properties                    
Property plant and equipment recorded         8,169          
Georgia | Furniture, fixtures and equipment | Acquisition | Senior living communities | Non Leasing Member                    
Real Estate Properties                    
Property plant and equipment recorded         $ 427