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Real Estate Properties (Tables)
 12 Months Ended
Dec. 31, 2015
Real Estate Properties  
Schedule of summarized income statement information for the seven MOBs that meet the criteria for discontinued operations included in discontinued operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended December 31,

 

 

 

2015

 

2014

 

2013

 

Rental income

    

$
56

    

$
3,949

    

$
9,451

 

Property operating expenses

 

 
(406)

 

 
(2,587)

 

 
(3,609)

 

Depreciation and amortization

 

 

 —

 

 

 —

 

 
(799)

 

(Loss) income from discontinued operations

 

$
(350)

 

$
1,362

 

$
5,043

 

 

Senior Living Communities  
Real Estate Properties  
Schedule of real estate property acquisition

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

 

 

    

 

    

 

    

Cash Paid

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

 

    

(Premium) /

 

 

 

 

 

 

 

Number

 

 

 

plus

 

 

 

 

Buildings

 

 

 

 

Acquired

 

 

 

 

 

 

Discount

 

 

 

 

 

Leased /

 

of

 

Units/

 

Assumed

 

 

 

 

and

 

 

 

 

Real Estate

 

Other

 

Assumed

 

on Assumed

 

Date

 

Location

 

Managed

 

Properties

 

Beds

 

Debt(1)

 

Land

 

Improvements

 

FF&E

 

Leases

 

Liabilities

 

Debt

 

Debt

 

Senior Living Community Acquisitions during the year ended December 31, 2015:

 

May 2015

 

11 States

 

Leased

 
18

 
2,119

 

$
459,184

 

$
29,716

 

$
373,471

 

$
21,117

 

$
54,096

 

$
(18,091)

 

$
(44,395)

 

$
(1,125)

 

May 2015

 

5 States

 

Managed

 
19

 
1,233

 

 
313,345

 

 
12,267

 

 
214,064

 

 
12,342

 

 
73,840

 

 

 —

 

 
(94,785)

 

 
832

 

September 2015

 

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

 

 
790,077

 

 
43,117

 

 
601,284

 

 
34,481

 

 
130,144

 

 
(18,091)

 

 
(151,477)

 

 
(858)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

May 2015

 

GA

 

Managed

 

—  (2)

 
40

 

 
8,750

 

 
993

 

 
8,169

 

 
427

 

 
161

 

 
(1,000)

 

 

 —

 

 

 —

 

September 2015

 

GA

 

Leased

 
1

 
84

 

 
18,250

 

 
3,479

 

 
13,862

 

 
909

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
39

 
3,563

 

$
817,077

 

$
47,589

 

$

623,315

 

$
35,817

 

$
130,305

 

$
(19,091)

 

$
(151,477)

 

$
(858)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Senior Living Community Acquisitions during the year ended December 31, 2014:

 

December 2014

 

WI

 

Managed

 
1

 
52

 

$
7,000

 

$
188

 

$
5,862

 

$
101

 

$
849

 

$

 —

 

$

 —

 

$

 —

 

December 2014

 

WI

 

Managed

 
1

 
176

 

 
40,430

 

 
2,615

 

 
34,957

 

 
588

 

 
2,270

 

 

 —

 

 

 —

 

 

 —

 

 

 

 

 

 

 
2

 
228

 

$
47,430

 

$
2,803

 

$
40,819

 

$
689

 

$
3,119

 

$

 —

 

$

 —

 

$

 —

 

(1)

Cash paid plus assumed debt, if any, excludes closing costs. The allocation of the purchase price of certain of our 2015 acquisitions shown above is based upon preliminary estimates of the fair value of assets acquired and liabilities assumed. Therefore, amounts preliminarily allocated to assets acquired and liabilities assumed could change significantly from those used in these 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 we previously 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

 

 

 

 

Buildings

 

Acquired

 

Real Estate

 

 

 

 

Premium

 

 

 

 

 

of

 

Square

 

Assumed

 

 

 

 

and

 

Real Estate

 

Lease

 

Assumed

 

on Assumed

 

Date

 

Location

 

Properties

 

Feet (000's)

 

Debt(1)

 

Land

 

Improvements

 

Leases

 

Obligations

 

Debt

 

Debt

 

MOB Acquisitions during the year ended December 31, 2015:

 

January 2015

 

12 States

 
23

 
2,170

 

$
531,623

 

$
50,429

 

$
397,637

 

$
87,780

 

$
(3,150)

 

$
(29,955)

 

$
(1,073)

 

 

 

 

 
23

 
2,170

 

$
531,623

 

$
50,429

 

$
397,637

 

$
87,780

 

$
(3,150)

 

$
(29,955)

 

$
(1,073)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

MOB Acquisitions during the year ended December 31, 2014:

 

April 2014

 

TX

 
1

 
125

 

$
32,932

 

$
3,141

 

$
23,142

 

$
7,672

 

$
(10)

 

$
(15,630)

 

$
(1,013)

 

May 2014

 

MA

 
1

 
1,651

 

 
1,129,652

 

 
52,643

 

 
792,146

 

 
403,282

 

 
(118,419)

 

 

 —

 

 

 —

 

 

 

 

 
2

 
1,776

 

$
1,162,584

 

$
55,784

 

$
815,288

 

$
410,954

 

$
(118,429)

 

$
(15,630)

 

$
(1,013)

 

(1)

Cash paid plus assumed debt, if any, excludes closing costs.