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Real Estate Properties - (Tables) | 12 Months Ended
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Dec. 31, 2016
Real Estate Properties |
Schedule of summarized income statement information for the seven MOBs that meet the criteria for discontinued operations included in discontinued operations | Summarized income statement information for the four MOBs (seven buildings) that met the criteria for discontinued operations is included in discontinued operations as follows:
|  | For the year ended December 31,
|  | 2016 |  | 2015 |  | 2014
Rental income |  | $ | — |  |  | $ | 56 |  |  | $ | 3,949 |
Property operating expenses |  | — |  |  | (406 | ) |  | (2,587 | )
(Loss) income from discontinued operations |  | $ | — |  |  | $ | (350 | ) |  | $ | 1,362 |
Senior Living Communities |
Real Estate Properties |
Schedule of real estate property acquisition | The table below represents the purchase price allocations (including net closing adjustments) of the senior living community acquisitions described above.
Date | Location | Leased / Managed | Number of Properties |  | Units/ Beds | Cash Paid plus Assumed Debt(1) | Land | Buildings and Improvements | FF&E | Acquired Real Estate Leases | Other Liabilities | Assumed Debt | (Premium) / Discount on Assumed Debt
Senior Living Community Acquisitions during the year ended December 31, 2016:
May 2016 | Georgia | Managed | 1 |  |  | 38 |  | $ | 8,400 |  | $ | 327 |  | $ | 6,195 |  | $ | 478 |  | $ | 1,400 |  | $ | — |  | $ | — |  | $ | — |
June 2016 | 4 States | Leased | 7 |  |  | 545 |  | 112,493 |  | 11,085 |  | 94,940 |  | 6,468 |  | — |  | — |  | — |  | — |
December 2016 | Illinois | Leased | 2 |  |  | 126 |  | 18,600 |  | 1,814 |  | 13,377 |  | 1,087 |  | 2,323 |  | — |  | — |  | — |
|  |  | 10 |  |  | 709 |  | $ | 139,493 |  | $ | 13,226 |  | $ | 114,512 |  | $ | 8,033 |  | $ | 3,723 |  | $ | — |  | $ | — |  | $ | — |
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 |  | 9,750 |  | 993 |  | 8,169 |  | 427 |  | 161 |  | — |  | — |  | — |
September 2015 | GA | Leased | 1 |  |  | 84 |  | 18,409 |  | 3,479 |  | 14,021 |  | 909 |  | — |  | — |  | — |  | — |
|  |  | 39 |  |  | 3,563 |  | $ | 818,236 |  | $ | 47,589 |  | $ | 623,474 |  | $ | 35,817 |  | $ | 130,305 |  | $ | (18,091 | ) | $ | (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. With respect to the June 2016 acquisition of seven senior living communities and the September 2015 acquisition of one senior living community in Georgia that are being accounted for as asset acquisitions, these amounts include the cash we paid as well as various closing settlement adjustments and closing costs. The allocation of the purchase prices of certain of our 2016 acquisitions shown above are based upon preliminary estimates of the fair value of assets acquired and liabilities assumed. The final amounts allocated to assets acquired and liabilities assumed may differ from the preliminary allocations presented in these consolidated financial statements upon the completion of (i) third party valuations and (ii) our analysis of acquired in place lease and land and building valuations.
(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 | The table below represents the purchase price allocations (including net closing adjustments) of the MOB acquisitions described above.
Date | Location | Number of Properties | Square Feet (000's) | Cash Paid plus Assumed Debt(1) | Land | Buildings and Improvements | Acquired Real Estate Leases | Acquired Real Estate Lease Obligations | Assumed Debt | Premium on Assumed Debt
MOB Acquisitions during the year ended December 31, 2016:
February 2016 | Minnesota | 1 |  | 128 |  | $ | 22,700 |  | $ | 4,028 |  | $ | 14,710 |  | $ | 5,053 |  | $ | (1,091 | ) | $ | — |  | $ | — |
May 2016 | Florida | 1 |  | 166 |  | 45,232 |  | 2,792 |  | 42,440 |  | — |  | — |  | — |  | — |
October 2016 | Ohio | 1 |  | 96 |  | 18,500 |  | 1,025 |  | 12,883 |  | 4,592 |  | — |  | — |  | — |
|  | 3 |  | 390 |  | $ | 86,432 |  | $ | 7,845 |  | $ | 70,033 |  | $ | 9,645 |  | $ | (1,091 | ) | $ | — |  | $ | — |
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. With respect to the property located in Florida that is being accounted for as an asset acquisition, this amount includes the cash we paid as well as various closing settlement adjustments and closing costs. The allocations of the purchase prices of certain of our 2016 acquisitions shown above are based upon preliminary estimates of the fair value of assets acquired and liabilities assumed. The final amounts allocated to assets acquired and liabilities assumed may differ from the preliminary allocations presented in these consolidated financial statements upon the completion of (i) third party valuations and (ii) our analysis of acquired in place lease and land and building valuations.

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