Sabra Health Care REIT (SBRA) 10-K27 Feb 242023 FY Annual reportFinancial data

Company Profile

Cover

Cover - USD ($) $ in Billions	12 Months Ended
Cover - USD ($) $ in Billions	Dec. 31, 2023	Feb. 20, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-34950
Entity Registrant Name	SABRA HEALTH CARE REIT, INC.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	27-2560479
Entity Address, Address Line One	1781 Flight Way
Entity Address, City or Town	Tustin
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92782
City Area Code	888
Local Phone Number	393-8248
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	SBRA
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 2.7
Entity Common Stock, Shares Outstanding		231,476,751
Documents Incorporated by Reference	Portions of the Proxy Statement for the registrant’s 2024 Annual Meeting of Stockholders, to be filed with the Securities and Exchange Commission not later than 120 days after December 31, 2023, are incorporated by reference in Part III herein.
Entity Central Index Key	0001492298
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Irvine, California
Auditor Firm ID	238

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets
Real estate investments, net of accumulated depreciation of $1,021,086 and $913,345 as of December 31, 2023 and 2022, respectively	$ 4,617,261	$ 4,959,343
Loans receivable and other investments, net	420,624	411,396
Investment in unconsolidated joint ventures	136,843	134,962
Cash and cash equivalents	41,285	49,308
Restricted cash	5,434	4,624
Lease intangible assets, net	30,897	40,131
Accounts receivable, prepaid expenses and other assets, net	133,806	147,908
Total assets	5,386,150	5,747,672
Liabilities
Secured debt, net	47,301	49,232
Revolving credit facility	94,429	196,982
Term loans, net	537,120	526,129
Senior unsecured notes, net	1,735,253	1,734,431
Accounts payable and accrued liabilities	136,981	142,259
Lease intangible liabilities, net	32,532	42,244
Total liabilities	2,583,616	2,691,277
Commitments and contingencies (Note 15)
Equity
Preferred stock, $0.01 par value; 10,000,000 shares authorized, zero shares issued and outstanding as of December 31, 2023 and 2022	0	0
Common stock, $0.01 par value; 500,000,000 shares authorized, 231,266,020 and 231,009,295 shares issued and outstanding as of December 31, 2023 and 2022, respectively	2,313	2,310
Additional paid-in capital	4,494,755	4,486,967
Cumulative distributions in excess of net income	(1,718,279)	(1,451,945)
Accumulated other comprehensive income	23,745	19,063
Total equity	2,802,534	3,056,395
Total liabilities and equity	$ 5,386,150	$ 5,747,672

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets
Accumulated depreciation	$ 1,021,086	$ 913,345
Preferred Stock
Par value (in dollars per share)	$ 0.01	$ 0.01
Shares authorized (in shares)	10,000,000	10,000,000
Shares issued (in shares)	0	0
Shares outstanding (in shares)	0	0
Common Stock
Par value (in dollars per share)	$ 0.01	$ 0.01
Shares authorized (in shares)	500,000,000	500,000,000
Shares issued (in shares)	231,266,020	231,009,295
Shares outstanding (in shares)	231,266,020	231,009,295

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues:
Rental and related revenues (Note 4)	$ 376,266	$ 400,586	$ 396,716
Resident fees and services	236,153	186,672	155,512
Interest and other income	35,095	37,553	17,317
Total revenues	647,514	624,811	569,545
Expenses:
Depreciation and amortization	183,087	187,782	178,991
Interest	112,964	105,471	98,632
General and administrative	47,472	39,574	34,669
Provision for loan losses and other reserves	191	141	3,935
Impairment of real estate	14,332	94,042	9,499
Total expenses	553,291	589,623	466,927
Other (expense) income:
Loss on extinguishment of debt	(1,541)	(411)	(34,622)
Other income (expense)	2,598	(1,097)	373
Net (loss) gain on sales of real estate	(76,625)	(12,011)	12,301
Total other expense	(75,568)	(13,519)	(21,948)
Income before loss from unconsolidated joint ventures and income tax expense	18,655	21,669	80,670
Loss from unconsolidated joint ventures	(2,897)	(98,032)	(192,081)
Income tax expense	(2,002)	(1,242)	(1,845)
Net income (loss)	$ 13,756	$ (77,605)	$ (113,256)
Net income (loss), per:
Basic common share (in dollars per share)	$ 0.06	$ (0.34)	$ (0.52)
Diluted common share (in dollars per share)	$ 0.06	$ (0.34)	$ (0.52)
Weighted-average number of common shares outstanding, basic (in shares)	231,203,391	230,947,895	219,073,027
Weighted-average number of common shares outstanding, diluted (in shares)	232,792,778	230,947,895	219,073,027
Revenue, type, extensible enumeration	Health Care, Resident Service [Member]	Health Care, Resident Service [Member]	Health Care, Resident Service [Member]
Triple-net portfolio
Expenses:
Operating expenses	$ 17,932	$ 19,623	$ 20,221
Senior housing - managed portfolio
Expenses:
Operating expenses	$ 177,313	$ 142,990	$ 120,980

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)		$ 13,756	$ (77,605)	$ (113,256)
Unrealized gain (loss), net of tax:
Foreign currency translation (loss) gain		(205)	3,141	(142)
Unrealized gain (loss) on cash flow hedges	[1]	4,887	25,943	30,032
Total other comprehensive income		4,682	29,084	29,890
Comprehensive income (loss)		$ 18,438	$ (48,521)	$ (83,366)

[1] Amounts are net of income tax benefit of $17,000 and $0.1 million for the years ended December 31, 2022 and 2021, respectively. No such income tax benefit was recognized during the year ended December 31, 2023.

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Income tax benefit on unrealized gains (losses) on cash flow hedges	$ 0	$ 17	$ 100

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Cumulative Distributions in Excess of Net Income	Accumulated Other Comprehensive (Loss) Income
Beginning balance (in shares) at Dec. 31, 2020		210,560,815
Beginning balance at Dec. 31, 2020	$ 3,409,228	$ 2,106	$ 4,163,228	$ (716,195)	$ (39,911)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(113,256)			(113,256)
Other comprehensive income	29,890				29,890
Amortization of stock-based compensation	10,748		10,748
Common stock issuance, net (in shares)		19,837,840
Common stock issuance, net	308,673	$ 198	308,475
Common dividends	(265,753)			(265,753)
Ending balance (in shares) at Dec. 31, 2021		230,398,655
Ending balance at Dec. 31, 2021	3,379,530	$ 2,304	4,482,451	(1,095,204)	(10,021)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(77,605)			(77,605)
Other comprehensive income	29,084				29,084
Amortization of stock-based compensation	9,433		9,433
Common stock issuance, net (in shares)		610,640
Common stock issuance, net	(4,911)	$ 6	(4,917)
Common dividends	(279,136)			(279,136)
Ending balance (in shares) at Dec. 31, 2022		231,009,295
Ending balance at Dec. 31, 2022	3,056,395	$ 2,310	4,486,967	(1,451,945)	19,063
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	13,756			13,756
Other comprehensive income	4,682				4,682
Amortization of stock-based compensation	10,559		10,559
Common stock issuance, net (in shares)		256,725
Common stock issuance, net	(2,768)	$ 3	(2,771)
Common dividends	(280,090)			(280,090)
Ending balance (in shares) at Dec. 31, 2023		231,266,020
Ending balance at Dec. 31, 2023	$ 2,802,534	$ 2,313	$ 4,494,755	$ (1,718,279)	$ 23,745

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Common dividends (in dollars per share)	$ 1.20	$ 1.20	$ 1.20

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income (loss)	$ 13,756	$ (77,605)	$ (113,256)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	183,087	187,782	178,991
Non-cash rental and related revenues	(8,699)	2,183	25,823
Non-cash interest income	(372)	(2,285)	(1,988)
Non-cash interest expense	12,265	11,094	8,368
Stock-based compensation expense	7,917	7,453	7,914
Loss on extinguishment of debt	1,541	411	34,622
Provision for loan losses and other reserves	191	141	3,935
Net loss (gain) on sales of real estate	76,625	12,011	(12,301)
Impairment of real estate	14,332	94,042	9,499
Other-than-temporary impairment of unconsolidated joint ventures	0	57,778	164,126
Loss from unconsolidated joint ventures	2,897	40,254	27,955
Distributions of earnings from unconsolidated joint ventures	3,469	0	0
Other non-cash items	(3,704)	2,167	0
Changes in operating assets and liabilities:
Accounts receivable, prepaid expenses and other assets, net	(11,078)	(6,443)	8,223
Accounts payable and accrued liabilities	8,344	(13,250)	14,479
Net cash provided by operating activities	300,571	315,733	356,390
Cash flows from investing activities:
Acquisition of real estate	(78,530)	(92,204)	(99,448)
Origination and fundings of loans receivable	(11,418)	(23,812)	(290,000)
Origination and fundings of preferred equity investments	(11,023)	(8,021)	(9,061)
Additions to real estate	(84,855)	(54,473)	(42,651)
Escrow deposits for potential investments	0	(780)	0
Repayments of loans receivable	9,274	5,272	2,949
Repayments of preferred equity investments	5,460	5,376	1,292
Investment in unconsolidated joint ventures	(5,235)	(142,910)	0
Net proceeds from the sales of real estate	247,622	87,304	100,723
Deposits for potential sale of real estate	0	8,000	0
Net proceeds from sales-type lease	25,490	0	0
Insurance proceeds	5,801	0	0
Distributions in excess of earnings from unconsolidated joint ventures	544	0	0
Net cash provided by (used in) investing activities	103,130	(216,248)	(336,196)
Cash flows from financing activities:
Net (repayments of) borrowings from revolving credit facility	(104,338)	204,046	0
Proceeds from term loans	12,188	0	0
Proceeds from issuance of senior unsecured notes	0	0	791,520
Principal payments on senior unsecured notes	0	0	(300,000)
Principal payments on term loans	0	(63,750)	(455,000)
Principal payments on secured debt	(1,979)	(17,516)	(12,661)
Payments of deferred financing costs	(18,142)	(20)	(9,317)
Payments related to extinguishment of debt	0	0	(30,196)
Payment of contingent consideration	(17,900)	(2,500)	0
Issuance of common stock, net	(2,682)	(4,810)	308,713
Dividends paid on common stock	(277,447)	(277,157)	(262,919)
Net cash (used in) provided by financing activities	(410,300)	(161,707)	30,140
Net (decrease) increase in cash, cash equivalents and restricted cash	(6,599)	(62,222)	50,334
Effect of foreign currency translation on cash, cash equivalents and restricted cash	(614)	268	29
Cash, cash equivalents and restricted cash, beginning of period	53,932	115,886	65,523
Cash, cash equivalents and restricted cash, end of period	46,719	53,932	115,886
Supplemental disclosure of cash flow information:
Interest paid	102,409	97,723	85,464
Income taxes paid	1,670	1,657	1,839
Supplemental disclosure of non-cash investing activities:
Decrease in loans receivable and other investments due to acquisition of real estate	$ 4,644	$ 14,311	$ 0

BUSINESS

BUSINESS	12 Months Ended
BUSINESS	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS	BUSINESS Overview Sabra Health Care REIT, Inc. (“Sabra” or the “Company”) was incorporated on May 10, 2010 as a wholly owned subsidiary of Sun Healthcare Group, Inc. (“Sun”) and commenced operations on November 15, 2010 following Sabra’s separation from Sun. Sabra elected to be treated as a real estate investment trust (“REIT”) with the filing of its United States (“U.S.”) federal income tax return for the taxable year beginning January 1, 2011. Sabra believes that it has been organized and operated, and it intends to continue to operate, in a manner to qualify as a REIT. Sabra’s primary business consists of acquiring, financing and owning real estate property to be leased to third-party tenants in the healthcare sector. Sabra primarily generates revenues by leasing properties to tenants throughout the U.S. and Canada. Sabra owns substantially all of its assets and properties and conducts its operations through Sabra Health Care Limited Partnership, a Delaware limited partnership (the “Operating Partnership”), of which Sabra is the sole general partner and a wholly owned subsidiary of Sabra is currently the only limited partner, or by subsidiaries of the Operating Partnership. The Company’s investment portfolio is primarily comprised of skilled nursing/transitional care facilities, senior housing communities (“Senior Housing - Leased”), behavioral health facilities and specialty hospitals and other facilities, in each case leased to tenants who are responsible for the operations of these facilities; senior housing communities operated by third-party property managers pursuant to property management agreements (“Senior Housing - Managed”); investments in joint ventures; investments in loans receivable; and preferred equity investments.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements include the accounts of Sabra and its wholly owned subsidiaries as of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021. All significant intercompany transactions and balances have been eliminated in consolidation. The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). GAAP requires the Company to identify entities for which control is achieved through voting rights or other means and to determine which business enterprise is the primary beneficiary of variable interest entities (“VIEs”). A VIE is broadly defined as an entity with one or more of the following characteristics: (a) the total equity investment at risk is insufficient to finance the entity’s activities without additional subordinated financial support; (b) as a group, the holders of the equity investment at risk lack (i) the ability to make decisions about the entity’s activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; or (c) the equity investors have voting rights that are not proportional to their economic interests, and substantially all of the entity’s activities either involve, or are conducted on behalf of, an investor that has disproportionately few voting rights. If the Company were determined to be the primary beneficiary of the VIE, the Company would consolidate investments in the VIE. The Company may change its original assessment of a VIE due to events such as modifications of contractual arrangements that affect the characteristics or adequacy of the entity’s equity investments at risk and the disposal of all or a portion of an interest held by the primary beneficiary. The Company identifies the primary beneficiary of a VIE as the enterprise that has both: (i) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance; and (ii) the obligation to absorb losses or the right to receive benefits of the VIE that could be significant to the entity. The Company performs this analysis on an ongoing basis. As of December 31, 2023, the Company determined that it was not the primary beneficiary of any VIEs. As it relates to investments in loans, in addition to the Company’s assessment of VIEs and whether the Company is the primary beneficiary of those VIEs, the Company evaluates the loan terms and other pertinent facts to determine whether the loan investment should be accounted for as a loan or as a real estate joint venture. If an investment has the characteristics of a real estate joint venture, including if the Company participates in the majority of the borrower’s expected residual profit, the Company would account for the investment as an investment in a real estate joint venture and not as a loan investment. Expected residual profit is defined as the amount of profit, whether called interest or another name, such as an equity kicker, above a reasonable amount of interest and fees expected to be earned by a lender. At December 31, 2023 and 2022, none of the Company’s investments in loans were accounted for as real estate joint ventures. As it relates to investments in joint ventures, the Company assesses any partners’ rights and their impact on the presumption of control of the partnership by any single partner. The Company also applies this guidance to managing member interests in limited liability companies. The Company reassesses its determination of which entity controls the joint venture if: there is a change to the terms or in the exercisability of the rights of any partners or members, the general partner or managing member increases or decreases its ownership interests, or there is an increase or decrease in the number of outstanding ownership interests. As of December 31, 2023, the Company’s determination of which entity controls its investments in joint ventures has not changed as a result of any reassessment. Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. Real Estate Investments and Rental Revenue Recognition Real Estate Acquisition Valuation All assets acquired and liabilities assumed in an acquisition of real estate accounted for as a business combination are measured at their acquisition date fair values. For acquisitions of real estate accounted for as an asset acquisition, the fair value of consideration transferred by the Company (including transaction costs) is allocated to all assets acquired and liabilities assumed on a relative fair value basis. The acquisition value of land, building and improvements are included in real estate investments on the accompanying consolidated balance sheets. The acquisition value of above market lease, tenant origination and absorption costs and tenant relationship intangible assets is included in lease intangible assets, net on the accompanying consolidated balance sheets. The acquisition value of below market lease intangible liabilities is included in lease intangible liabilities, net on the accompanying consolidated balance sheets. Acquisition costs associated with real estate acquisitions deemed asset acquisitions are capitalized, and costs associated with real estate acquisitions deemed business combinations are expensed as incurred. Restructuring costs that do not meet the definition of a liability at the acquisition date are expensed in periods subsequent to the acquisition date. Estimates of the fair values of the tangible assets, identifiable intangibles and assumed liabilities require the Company to make significant assumptions to estimate market lease rates, property operating expenses, carrying costs during lease-up periods, discount rates, market absorption periods, and the number of years the property will be held for investment. The Company makes its best estimate based on the Company’s evaluation of the specific characteristics of each tenant’s lease. The use of inappropriate assumptions would result in an incorrect valuation of the Company’s acquired tangible assets, identifiable intangibles and assumed liabilities, which would impact the amount of the Company’s net income. Depreciation and Amortization Real estate costs related to the acquisition and improvement of properties are capitalized and amortized on a straight-line basis over the lesser of the expected useful life of the asset and the remaining lease term of any property subject to a ground lease. Tenant improvements are capitalized and amortized on a straight-line basis over the lesser of the expected useful life of the asset and the remaining lease term. Depreciation is discontinued when a property is identified as held for sale. Repair and maintenance costs are charged to expense as incurred and significant replacements and betterments are capitalized. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset. The Company considers the period of future benefit of an asset to determine its appropriate useful life. Depreciation of real estate assets and amortization of tenant origination and absorption costs and tenant relationship lease intangibles are included in depreciation and amortization on the accompanying consolidated statements of income (loss). Amortization of above and below market lease intangibles is included in rental income on the accompanying consolidated statements of income (loss). The Company anticipates the estimated useful lives of its assets by class to be generally as follows: land improvements, 15 to 20 years; buildings and building improvements, five three Impairment of Real Estate Investments The Company regularly monitors events and changes in circumstances, including investment operating performance and general market conditions, that could indicate that the carrying amounts of its real estate investments may not be recoverable. When indicators of potential impairment suggest that the carrying value of real estate investments may not be recoverable, the Company assesses the recoverability by estimating whether the Company will recover the carrying value of its real estate investments through the undiscounted future cash flows and the eventual disposition of the investment. In some instances, there may be various potential outcomes for an investment and its potential undiscounted future cash flows. In these instances, the undiscounted future cash flows models used to assess recoverability are based on several assumptions and are probability-weighted based on the Company’s best estimates as of the date of evaluation. These assumptions include, among others, market rent, revenue and expense growth rates, absorption period, stabilized occupancy, holding period, market capitalization rates, and estimated market values based on analysis of letters of intent, purchase and sale agreements and recent sales data for comparable properties. When discounted cash flow is used to determine fair value, a discount rate assumption is also used. The assumptions are generally based on management’s experience in its local real estate markets, and the effects of current market conditions, which are subject to economic and market uncertainties. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of its real estate investments, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of its real estate investments. The Company determines estimated fair value based primarily upon (i) estimated sale prices from signed contracts or letters of intent from third-party offers, (ii) discounted cash flow models of the investment over its remaining hold period, (iii) third-party appraisals and (iv) recent sales data for comparable properties. Revenue Recognition The Company recognizes rental revenue from tenants, including rental abatements, lease incentives and contractual fixed increases attributable to operating leases, on a straight-line basis over the term of the related leases when it is probable that substantially all rents over the life of a lease are collectible. Certain of the Company’s leases provide for contingent rents equal to a percentage of the facility’s revenue in excess of specified base amounts or other thresholds. Such revenue is recognized when actual results reported by the tenant, or estimates of tenant results, exceed the applicable base amount or other threshold. The Company assesses the collectability of rents on a lease-by-lease basis, and in doing so, considers such things as historical bad debts, tenant creditworthiness, current economic trends, facility operating performance, lease structure, credit enhancements (including guarantees), current developments relevant to a tenant’s business specifically and to its business category generally, and changes in tenants’ payment patterns. The Company’s assessment includes an estimation of a tenant’s ability to fulfill all of its rental obligations over the remaining lease term. In addition, with respect to tenants in bankruptcy, management makes estimates of the expected recovery of pre-petition and post-petition claims in assessing the estimated collectability of the related receivable. If at any time the Company cannot determine that it is probable that substantially all rents over the life of a lease are collectible, rental revenue will be recognized only to the extent of payments received, and all receivables associated with the lease will be written off irrespective of amounts expected to be collectible. Any recoveries of these amounts will be recorded in future periods upon receipt of payment. Write-offs of receivables and any recoveries of previously written-off receivables are recorded as adjustments to rental revenue. Revenue from resident fees and services is recorded monthly as services are provided and includes resident room and care charges, ancillary services charges and other resident charges. Government Grants By analogy to International Accounting Standards 20, Accounting for Government Grants and Disclosure of Government Assistance, government assistance provided to the Company in the form of an income grant, which is not related to long-lived assets and is not required to be repaid, is recognized as grant income when there is reasonable assurance that the grant will be received and the Company will comply with any conditions associated with the grant. Additionally, grants are recognized over the periods in which the Company recognizes the qualifying expenses and/or lost income for which the grants are intended to compensate. As of December 31, 2023, 2022 and 2021, the amount of qualifying expenditures exceeded amounts recognized under The Coronavirus Aid Relief and Economic Security Act and other programs, and the Company had complied with all grant conditions. Accordingly, during the years ended December 31, 2023, 2022 and 2021, the Company recognized $0.1 million, $0.1 million and $0.5 million, respectively, of grants in resident fees and services, and during the year ended December 31, 2022, the Company recognized $3.6 million of grants in loss from unconsolidated joint ventures in the accompanying consolidated statements of income (loss). Casualty Gains and Losses Income resulting from insurance recoveries of property damage or business interruption losses is recognized when proceeds are received or contingencies related to the insurance recoveries are resolved. A vacant facility owned by the Company suffered damages as a result of vandalism and theft. The Company received $6.2 million of insurance proceeds and recorded a $3.7 million gain related to the property damage during the year ended December 31, 2023 which is included in other income (expense) A fire occurred at one of the Company’s Senior Housing - Managed communities. The Company received $1.1 million of insurance proceeds and recorded $0.5 million of business interruption insurance income during the year ended December 31, 2023 which is included in other income (expense) on the accompanying consolidated statements of income (loss). The remaining proceeds were recorded as expense reimbursements in Senior Housing - Managed portfolio operating expenses on the accompanying consolidated statements of income (loss). Assets Held for Sale, Dispositions and Discontinued Operations The Company generally considers real estate to be “held for sale” when the following criteria are met: (i) management commits to a plan to sell the property, (ii) the property is available for sale immediately, (iii) the property is actively being marketed for sale at a price that is reasonable in relation to its current fair value, (iv) the sale of the property within one year is considered probable and (v) significant changes to the plan to sell are not expected. Real estate that is held for sale and its related assets are classified as assets held for sale and are included in accounts receivable, prepaid expenses and other assets, net on the accompanying consolidated balance sheets. Secured indebtedness and other liabilities related to real estate held for sale are classified as liabilities related to assets held for sale and are included in accounts payable and accrued liabilities on the accompanying consolidated balance sheets. Real estate classified as held for sale is no longer depreciated and is reported at the lower of its carrying value or its estimated fair value less estimated costs to sell. As of December 31, 2023 and 2022, the Company did not have any assets held for sale. For sales of real estate where the Company has collected the consideration to which it is entitled in exchange for transferring the real estate, the related assets and liabilities are removed from the balance sheet and the resultant gain or loss is recorded in the period in which the transaction closes. Any post-sale involvement is accounted for as separate performance obligations, and when the separate performance obligations are satisfied, the portion of the sales price allocated to each such obligation is recognized. Additionally, the Company records the operating results related to real estate that has been disposed of or classified as held for sale as discontinued operations for all periods presented if it represents a strategic shift that has or will have a major effect on the Company’s operations and financial results. Investment in Unconsolidated Joint Ventures The Company reports investments in unconsolidated entities over whose operating and financial policies it has the ability to exercise significant influence under the equity method of accounting. Under this method of accounting, the Company’s share of the investee’s earnings or losses is included in the Company’s consolidated statements of income (loss). The initial carrying value of the investment is based on the amount paid to purchase the joint venture interest. Differences between the Company’s cost basis and the basis reflected at the joint venture level are generally amortized over the lives of the related assets and liabilities, and such amortization is included in the Company’s share of earnings of the joint venture. In addition, distributions received from unconsolidated entities are classified based on the nature of the activity or activities that generated the distribution. The Company regularly monitors events and changes in circumstances, including investment operating performance, changes in anticipated holding period and general market conditions, that could indicate that the carrying amounts of its equity method investments may be impaired. An equity method investment's value is impaired when the fair value of the investment is less than its carrying value and the Company determines the decline in value is other-than-temporary. The fair value is estimated based on discounted cash flows models that include all estimated cash inflows and outflows and any estimated debt premiums or discounts. The discounted cash flows are based on several assumptions, including management fee, absorption period, terminal capitalization rates, revenue and expense per bed, revenue and expense growth percentage, replacement reserve per unit, stabilized occupancy, stabilized operating margin, price per bed and discount rates. The assumptions are generally based on management’s experience in its local real estate markets, and the effects of current market conditions, which are subject to economic and market uncertainties. If the Company believes that there is an other-than-temporary decline in the value of an equity method investment, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of such equity method investment. Loans Receivable and Credit Losses Loans Receivable The Company’s loans receivable are reflected at amortized cost on the accompanying consolidated balance sheets. The amortized cost of a loan receivable is the outstanding unpaid principal balance, net of unamortized discounts, costs and fees directly associated with the origination of the loan. Loans acquired in connection with a business combination are recorded at their acquisition date fair value. The Company determines the fair value of loans receivable based on estimates of expected discounted cash flows, collateral, credit risk and other factors. The Company does not establish a valuation allowance at the acquisition date, as the amount of estimated future cash flows reflects its judgment regarding their uncertainty. The Company recognizes the difference between the acquisition date fair value and the total expected cash flows as interest income using the effective interest method over the life of the applicable loan. The Company immediately recognizes in income any unamortized balances if the loan is repaid before its contractual maturity. Interest income on the Company’s loans receivable is recognized on an accrual basis over the life of the investment using the interest method. Direct loan origination costs are amortized over the term of the loan as an adjustment to interest income. When concerns exist as to the ultimate collection of principal or interest due under a loan, the loan is placed on nonaccrual status, and the Company will not recognize interest income until the cash is received, or the loan returns to accrual status. If the Company determines that the collection of interest according to the contractual terms of the loan or through the receipts of assets in satisfaction of contractual amounts due is probable, the Company will resume the accrual of interest. In instances where borrowers are in default under the terms of their loans, the Company may continue recognizing interest income provided that all amounts owed under the contractual terms of the loan, including accrued and unpaid interest, do not exceed the estimated fair value of the collateral, less costs to sell. On a quarterly basis, the Company evaluates the collectability of its interest income receivable and establishes a reserve for amounts not expected to be collected. The Company’s evaluation includes reviewing credit quality indicators such as payment status, changes affecting the operations of the facilities securing the loans, and national and regional economic factors. The reserve is a valuation allowance that reflects management’s estimate of losses inherent in the interest income receivable balance as of the balance sheet date. The reserve is adjusted through provision for loan losses and other reserves on the Company’s consolidated statements of income (loss) and is decreased by charge-offs to specific receivables. Credit Losses On a quarterly basis, the Company evaluates the collectability of its loan portfolio, including the portion of unfunded loan commitments expected to be funded, and establishes an allowance for credit losses. The allowance for credit losses is calculated using the related amortization schedules, payment histories and loan-to-value ratios. The following rates are applied to determine the aggregate expected losses, which is recorded as the allowance for credit losses: (i) a default rate, (ii) a liquidation cost rate and (iii) a distressed property reduction rate. If no loan-to-value ratio is available, a loss severity rate is applied in place of the liquidation cost rate and the distressed property reduction rate. The default rate is based on average charge-off and delinquency rates from the Federal Reserve, and the other rates are based on industry research and historical performance of a similar portfolio of financial assets. The allowance for credit losses is a valuation allowance that reflects management’s estimate of losses inherent in the loan portfolio as of the balance sheet date. The reserve is adjusted through provision for loan losses and other reserves on the Company’s consolidated statements of income (loss) and is decreased by charge-offs to specific loans. Preferred Equity Investments and Preferred Return Preferred equity investments are accounted for at unreturned capital contributions, plus accrued and unpaid preferred returns. The Company recognizes preferred return income on a monthly basis based on the outstanding investment including any previously accrued and unpaid return. As a preferred member of the preferred equity joint ventures in which the Company participates, the Company is not entitled to share in the joint venture’s earnings or losses. Rather, the Company is entitled to receive a preferred return, which is deferred if the cash flow of the joint venture is insufficient to currently pay the accrued preferred return. The Company regularly monitors events and changes in circumstances that could indicate that the carrying amounts of its preferred equity investments may not be recoverable or realized. On a quarterly basis, the Company evaluates its preferred equity investments for impairment based on a comparison of the fair value of the investment to its carrying value. The fair value is estimated based on discounted cash flows that include all estimated cash inflows and outflows over a specified holding period. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of its preferred equity investment, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of its preferred equity investment. Cash and Cash Equivalents The Company considers all short-term (with an original maturity of three months or less), highly-liquid investments utilized as part of the Company’s cash-management activities to be cash equivalents. Cash equivalents may include cash and short-term investments. Short-term investments are stated at cost, which approximates fair value. The Company’s cash and cash equivalents balance exceeded federally insurable limits as of December 31, 2023. To date, the Company has experienced no loss or lack of access to cash in its operating accounts. The Company has a corporate banking relationship with Bank of America, N.A. in which it deposits the majority of its cash. Restricted Cash Restricted cash primarily consists of amounts held by an exchange accommodation titleholder or by secured debt lenders to provide for future real estate tax expenditures, tenant improvements and capital expenditures. Pursuant to the terms of the Company’s leases with certain tenants, the Company has assigned its interests in certain of these restricted cash accounts with secured debt lenders to the tenants, and this amount is included in accounts payable and accrued liabilities on the Company’s consolidated balance sheets. As of December 31, 2023 and 2022, restricted cash totaled $5.4 million and $4.6 million, respectively, and restricted cash obligations totaled $1.4 million and $3.9 million, respectively. Lessee Accounting For operating leases greater than 12 months for which the Company is the lessee, such as corporate office leases and ground leases, the Company recognizes a right-of-use (“ROU”) asset and related lease liability on its consolidated balance sheets at inception of the lease. ROU assets represent the Company’s right to use underlying assets for the lease term, and lease liabilities are determined based on the estimated present value of the Company’s minimum lease payments under the agreements. The discount rate used to determine the lease liabilities is based on the estimated incremental borrowing rate on a lease-by-lease basis. Certain of the Company’s lease agreements have options to extend or terminate the contract terms upon meeting certain criteria. The lease term utilized in the calculation of the lease liability includes these options if exercise is considered reasonably certain. As of December 31, 2023 and 2022, the Company had $11.6 million and $8.5 million of ROU assets included in accounts receivable, prepaid expenses and other assets, net accounts payable and accrued liabilities During the years ended December 31, 2023, 2022 and 2021, the Company incurred lease expense of $1.4 million, $1.2 million and $1.2 million, respectively. As of December 31, 2023, the weighted average remaining lease term and discount rate were 17 years and 8%, respectively, and the future minimum lease payments under the operating leases included in the Company’s lease liability were as follows (in thousands): 2024 $ 1,310 2025 1,802 2026 1,324 2027 1,347 2028 1,330 Thereafter 18,104 Undiscounted minimum lease payments included in the lease liability 25,217 Less: imputed interest (12,729) Present value of lease liability $ 12,488 Stock-Based Compensation Stock-based compensation expense for stock-based awards granted to Sabra’s employees (teammates) and its non-employee directors is recognized in the statements of income (loss) based on the estimated grant date fair value, as adjusted. Compensation expense for awards with graded vesting schedules is generally recognized ratably over the period from the grant date to the date when the award is no longer contingent on the recipient providing additional services. Compensation expense for awards with performance-based vesting conditions is recognized based on the Company’s estimate of the ultimate value of such award after considering the Company’s expectations of future performance. Forfeitures of stock-based awards are recognized as they occur. Deferred Financing Costs Deferred financing costs representing fees paid to third parties are amortized over the terms of the respective financing agreements using the interest method. Deferred financing costs related to secured debt, term loans and senior unsecured notes are recorded as a reduction of the related debt liability, and deferred financing costs related to the revolving credit facility are recorded in accounts receivable, prepaid expenses and other assets, net. Unamortized deferred financing costs are generally expensed when the associated debt is refinanced or repaid before maturity. Costs incurred in seeking financings that do not close are expensed in the period in which it is determined that the financing will not close. Income Taxes The Company elected to be treated as a REIT with the filing of its U.S. federal income tax return for the taxable year beginning January 1, 2011. The Company believes that it has been organized and operated, and it intends to continue to operate, in a manner to qualify as a REIT. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of the Company’s annual REIT taxable income to stockholders (which is computed without regard to the dividends-paid deduction or net capital gains and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax on income that it distributes as dividends to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to U.S. federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost, unless the Internal Revenue Service grants the Company relief under certain statutory provisions. Such an event could materially and adversely affect the Company’s net income and net cash available for distribution to stockholders. However, the Company believes that it is organized and operates in such a manner as to qualify for treatment as a REIT. As a result of certain investments, the Company now records income tax expense or benefit with respect to certain of its entities that are taxed as taxable REIT subsidiaries under provisions similar to those applicable to regular corporations and not under the REIT provisions. The Company accounts for deferred income taxes using the asset and liability method and recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the Company’s financial statements or tax returns. Under this method, the Company determines deferred tax assets and liabilities based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Any increase or decrease in the deferred tax liability that results from a change in circumstances, and that causes a change in the Company’s judgment about expected future tax consequences of events, is included in the tax provision when such changes occur. Deferred income taxes also reflect the impact of operating loss and tax credit carryforwards. A valuation allowance is provided if the Company believes it is more likely than not that all or some portion of the deferred tax asset will not be realized. Any increase or decrease in the valuation allowance that results from a change in circumstances, and that causes a change in the Company’s judgment about the realizability of the related deferred tax asset, is included in the tax provision when su

RECENT REAL ESTATE ACQUISITIONS

RECENT REAL ESTATE ACQUISITIONS (CONSOLIDATED)	12 Months Ended
RECENT REAL ESTATE ACQUISITIONS (CONSOLIDATED)	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
RECENT REAL ESTATE ACQUISITIONS (CONSOLIDATED)	RECENT REAL ESTATE ACQUISITIONS (CONSOLIDATED) During the year ended December 31, 2023, the Company acquired two skilled nursing/transitional care facilities, one Senior Housing - Leased community and one Senior Housing - Managed community. During the year ended December 31, 2022, the Company acquired three Senior Housing - Managed communities and one behavioral health facility. The Senior Housing - Managed community acquired during the year ended December 31, 2023 and two of the Senior Housing - Managed communities acquired during the year ended December 31, 2022 were part of the Company’s proprietary development pipeline and were previously reflected as preferred equity investments which had a book value of $4.6 million and $14.3 million, respectively, at the time of acquisition. The consideration was allocated as follows (in thousands): Year Ended December 31, 2023 2022 Land $ 6,796 $ 11,767 Building and improvements 79,830 89,646 Tenant origination and absorption costs intangible assets 3,492 5,061 Tenant relationship intangible assets 255 41 Total consideration $ 90,373 $ 106,515 The tenant origination and absorption costs intangible assets and tenant relationship intangible assets had weighted-average amortization periods as of the respective dates of acquisition of four years and 22 years, respectively, for acquisitions completed during the year ended December 31, 2023. The tenant origination and absorption costs intangible assets and tenant relationship intangible assets had weighted-average amortization periods as of the respective dates of acquisition of two years and 25 years, respectively, for acquisitions completed during the year ended December 31, 2022. For the year ended December 31, 2023, the Company recognized $10.4 million and $0.7 million of total revenues and net income, respectively, from the facilities acquired during the year ended December 31, 2023. For the year ended December 31, 2022, the Company recognized $11.1 million and $1.6 million of total revenues and net loss, respectively, from the facilities acquired during the year ended December 31, 2022. During the three months ended June 30, 2023, the Company, in accordance with the terms of the agreements pursuant to which it purchased the facilities, paid $17.9 million in additional consideration related to two Senior Housing - Managed communities that achieved certain performance metrics. This amount is included in real estate investments, net of accumulated depreciation on the accompanying consolidated balance sheets.

INVESTMENT IN REAL ESTATE PROPE

INVESTMENT IN REAL ESTATE PROPERTIES	12 Months Ended
INVESTMENT IN REAL ESTATE PROPERTIES	Dec. 31, 2023
Real Estate [Abstract]
INVESTMENT IN REAL ESTATE PROPERTIES	INVESTMENT IN REAL ESTATE PROPERTIES The Company’s real estate properties held for investment consisted of the following (dollars in thousands): As of December 31, 2023 Property Type Number of Number of Total Accumulated Total Skilled Nursing/Transitional Care 241 26,769 $ 3,050,861 $ (535,653) $ 2,515,208 Senior Housing - Leased 43 3,473 573,274 (109,601) 463,673 Senior Housing - Managed 61 6,041 1,289,485 (255,803) 1,033,682 Behavioral Health 18 1,159 496,737 (71,943) 424,794 Specialty Hospitals and Other 15 392 225,443 (47,454) 177,989 378 37,834 5,635,800 (1,020,454) 4,615,346 Corporate Level 2,547 (632) 1,915 $ 5,638,347 $ (1,021,086) $ 4,617,261 As of December 31, 2022 Property Type Number of Number of Total Accumulated Total Skilled Nursing/Transitional Care 264 29,136 $ 3,385,221 $ (492,495) $ 2,892,726 Senior Housing - Leased 47 3,550 590,694 (97,716) 492,978 Senior Housing - Managed 59 5,942 1,205,283 (222,089) 983,194 Behavioral Health 17 965 465,143 (58,481) 406,662 Specialty Hospitals and Other 15 392 225,443 (42,038) 183,405 402 39,985 5,871,784 (912,819) 4,958,965 Corporate Level 904 (526) 378 $ 5,872,688 $ (913,345) $ 4,959,343 As of December 31, 2023 2022 Building and improvements $ 4,843,258 $ 5,034,470 Furniture and equipment 238,185 262,644 Land improvements 10,306 7,085 Land 546,598 568,489 Total real estate at cost 5,638,347 5,872,688 Accumulated depreciation (1,021,086) (913,345) Total real estate investments, net $ 4,617,261 $ 4,959,343 Operating Leases As of December 31, 2023, the substantial majority of the Company’s real estate properties (excluding 61 Senior Housing - Managed communities) were leased under triple-net operating leases with expirations ranging from one year to 19 years. As of December 31, 2023, the leases had a weighted-average remaining term of eight years. The leases generally include provisions to extend the lease terms and other negotiated terms and conditions. The Company, through its subsidiaries, retains substantially all of the risks and benefits of ownership of the real estate assets leased to the tenants. The Company may receive additional security under these operating leases in the form of letters of credit and security deposits from the lessee or guarantees from the parent of the lessee. Security deposits received in cash related to tenant leases are included in accounts payable and accrued liabilities on the accompanying consolidated balance sheets and totaled $16.4 million and $13.0 million as of December 31, 2023 and 2022, respectively, and letters of credit deposited with the Company totaled approximately $56 million and $57 million as of December 31, 2023 and 2022, respectively. In addition, the Company’s tenants have deposited with the Company $12.4 million and $13.3 million as of December 31, 2023 and 2022, respectively, for future real estate taxes, insurance expenditures and tenant improvements related to the Company’s properties and their operations, and these amounts are included in accounts payable and accrued liabilities on the accompanying consolidated balance sheets. Lessor costs that are paid by the lessor and reimbursed by the lessee are included in the measurement of variable lease revenue and the associated expense. As a result, the Company recognized variable lease revenue and the associated expense of $15.3 million, $17.7 million and $18.0 million during the years ended December 31, 2023, 2022 and 2021, respectively. The Company monitors the creditworthiness of its tenants by evaluating the ability of the tenants to meet their lease obligations to the Company based on the tenants’ financial performance, including, as applicable and appropriate, the evaluation of any parent guarantees (or the guarantees of other related parties) of such lease obligations. The primary basis for the Company’s evaluation of the credit quality of its tenants (and more specifically the tenant’s ability to pay their rent obligations to the Company) is the tenant’s lease coverage ratio as supplemented by the parent’s fixed charge coverage ratio for those entities with a parent guarantee. These coverage ratios include earnings before interest, taxes, depreciation, amortization and rent (“EBITDAR”) to rent and earnings before interest, taxes, depreciation, amortization, rent and management fees (“EBITDARM”) to rent at the lease level and consolidated EBITDAR to total fixed charges at the parent guarantor level when such a guarantee exists. The Company obtains various financial and operational information from the majority of its tenants each month and reviews this information in conjunction with the above-described coverage metrics to identify financial and operational trends, evaluate the impact of the industry’s operational and financial environment (including the impact of government reimbursement), and evaluate the management of the tenant’s operations. These metrics help the Company identify potential areas of concern relative to its tenants’ credit quality and ultimately the tenant’s ability to generate sufficient liquidity to meet its obligations, including its obligation to continue to pay the rent due to the Company. In 2021, the Company concluded that its lease with the Avamere Family of Companies (“Avamere”) should no longer be accounted for on an accrual basis and wrote off $25.2 million of straight-line rent receivable balances, and in 2022, Avamere’s lease was amended to, among other things, reduce Avamere’s annual base rent to $30.7 million from $44.1 million, effective February 1, 2022. In 2022, the Company concluded that its leases with North American Health Care, Inc. (“North American”) should no longer be accounted for on an accrual basis and wrote off $15.6 million of straight-line rent receivable balances related to these leases. The facilities were transitioned to the Ensign Group or Avamere, as applicable, effective February 1, 2023. For the year ended December 31, 2023, no tenant relationship represented 10% or more of the Company’s total revenues. As of December 31, 2023, the future minimum rental payments from the Company’s properties held for investment under non-cancelable operating leases were as follows and may materially differ from actual future rental payments received (in thousands): 2024 $ 377,721 2025 372,911 2026 357,434 2027 334,489 2028 310,963 Thereafter 1,289,067 $ 3,042,585 Senior Housing - Managed Communities The Company’s Senior Housing - Managed communities offer residents certain ancillary services that are not contemplated in the lease with each resident (i.e., housekeeping, laundry, guest meals, etc.). These services are provided and paid for in addition to the standard services included in each resident lease (i.e., room and board, standard meals, etc.). The Company bills residents for ancillary services one month in arrears and recognizes revenue as the services are provided, as the Company has no continuing performance obligation related to those services. Resident fees and services includes ancillary service revenue of $2.0 million, $1.5 million and $1.3 million for the years ended December 31, 2023, 2022 and 2021, respectively. Capital and Other Expenditures As of December 31, 2023, the Company’s aggregate commitment for future capital and other expenditures associated with facilities leased under triple-net operating leases was approximately $27 million. These commitments are principally for improvements to its facilities. Investment in Unconsolidated Joint Ventures The following is a summary of the Company’s investment in unconsolidated joint ventures (dollars in thousands): Property Type Number of Properties as of December 31, 2023 Ownership as of December 31, 2023 (1) Book Value as of December 31, 2023 2022 Sienna Joint Venture Senior Housing - Managed 12 50 % $ 119,724 $ 120,269 Marlin Spring Joint Venture Senior Housing - Managed 4 85 % 17,119 14,693 $ 136,843 $ 134,962 (1) These investments are not consolidated because the Company does not control, through voting rights or other means, the joint ventures. The Company formed a joint venture with Marlin Spring (the “Marlin Spring Joint Venture”) that completed the acquisition of one and three senior housing communities that are being managed by third-party operators during 2023 and 2022, respectively. The gross investment, excluding acquisition costs, by the Marlin Spring Joint Venture totaled CAD $30.0 million and CAD $82.5 million during 2023 and 2022, respectively. In addition, the Marlin Spring Joint Venture assumed and financed an aggregate CAD $23.6 million and CAD $65.0 million of debt during 2023 and 2022, respectively. The Company’s equity investment was CAD $6.1 million and CAD $16.6 million during 2023 and 2022, respectively. During 2022, the Company formed a joint venture with Sienna Senior Living (the “Sienna Joint Venture”), and the Sienna Joint Venture completed the acquisition of 12 senior housing communities that are being managed by Sienna Senior Living. The gross investment by the Sienna Joint Venture totaled CAD $379.0 million, excluding acquisition costs, and in addition, the Sienna Joint Venture assumed CAD $53.4 million of debt. The Company’s equity investment was CAD $161.8 million. During the second quarter of 2021, the Company determined that it intended to eventually exit its 49% stake in the real estate platform of TPG (the “Enlivant Joint Venture”) and concluded that the carrying value exceeded the estimated fair value of the investment and deemed the decline to be other-than-temporary. This resulted in the Company recording an impairment charge totaling $164.1 million during the three months ended June 30, 2021 which is included in loss from unconsolidated joint ventures on the accompanying consolidated statements of income (loss). During the fourth quarter of 2022, due to the confluence of labor shortages, increased labor costs, elevated interest rates and a slower than anticipated recovery in the operating performance of the underlying facilities, the Company concluded that the estimated fair value of its investment in the Enlivant Joint Venture had further declined to zero based on updated future cash flow analyses. This decline was deemed to be other-than-temporary, and the Company recorded an impairment charge totaling $57.8 million during the three months ended December 31, 2022 which is included in loss from unconsolidated joint ventures on the accompanying consolidated statements of income (loss). Effective January 1, 2023, the Company discontinued applying the equity method of accounting to the Enlivant Joint Venture. Effective May 1, 2023, the Company withdrew and resigned its membership in the Enlivant Joint Venture and accordingly, no longer has an equity interest in the Enlivant Joint Venture as of such date. Summarized Financial Information The following tables present summarized financial information for the Company’s investments in unconsolidated joint ventures (in thousands). As of December 31, 2023 2022 Total assets $ 353,779 $ 754,220 Total liabilities 106,490 894,969 Member’s equity (deficit) 247,289 (140,749) Year Ended December 31, 2023 2022 2021 Total revenues $ 64,446 $ 351,073 $ 274,693 Operating expenses (1) 47,811 324,462 265,194 Net loss (9,823) (66,171) (35,276) Company’s share of net loss $ (2,897) $ (32,581) $ (17,184) Basis adjustments — 7,673 10,771 Other-than-temporary impairment — 57,778 164,126 Loss from unconsolidated joint venture $ (2,897) $ (98,032) $ (192,081) (1) During the years ended December 31, 2022 and 2021, TPG caused the Enlivant Joint Venture to fund $25.0 million and $20.0 million, respectively, of payments to Enlivant beyond amounts contractually required under the management agreement. These payments were to support the operations of Enlivant and are reflected as operating expenses. Funding for the support payments did not require capital contributions from Sabra but rather were funded with proceeds received by the Enlivant Joint Venture from TPG for the issuance of senior preferred interests or with cash on hand at the Enlivant Joint Venture. Certain amounts in the financial information have been reclassified to conform to Sabra’s presentation. For the Enlivant Joint Venture, except for basis adjustments, other-than-temporary impairment and loss from unconsolidated joint venture, the financial information reflects the historical cost basis of the assets which pre-dated the Company’s investment in the Enlivant Joint Venture. In addition, the Company’s share of net loss in the Enlivant Joint Venture excludes certain equity-like compensation expense and the related income tax impact as such expense is not the responsibility of the Company under the terms of the joint venture agreement. Net Investment in Sales-Type Lease As of December 31, 2022, the Company had a $25.5 million net investment in one skilled nursing/transitional care facility leased to a tenant under a sales-type lease, as the tenant is obligated to purchase the property at the end of the lease term. During the three months ended March 31, 2023, the tenant purchased the skilled nursing/transitional care facility for net proceeds of $25.5 million as obligated under terms of the lease.

IMPAIRMENT OF REAL ESTATE AND D

IMPAIRMENT OF REAL ESTATE AND DISPOSITIONS	12 Months Ended
IMPAIRMENT OF REAL ESTATE AND DISPOSITIONS	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
IMPAIRMENT OF REAL ESTATE AND DISPOSITIONS	IMPAIRMENT OF REAL ESTATE AND DISPOSITIONS Impairment of Real Estate During the years ended December 31, 2023, 2022 and 2021, the Company recognized real estate impairments of $14.3 million, $94.0 million and $9.5 million, respectively, related to three, 10 and three facilities, respectively. These facilities have either been sold or are closed. To estimate the fair value of the impaired facilities, the Company utilized a market approach which considered binding sale agreements, non-binding offers from unrelated third parties or model-derived valuations with significant unobservable inputs (Level 3 measurements), as applicable. The Company continues to evaluate additional assets for sale as part of its initiative to recycle capital and further improve its portfolio quality. This could lead to a shorter hold period and could result in the determination that the full amount of the Company’s investment is not recoverable, resulting in an impairment charge which could be material. Dispositions The following table summarizes the Company’s dispositions for the periods presented (dollars in millions): Year Ended December 31, 2023 2022 2021 Number of facilities 28 18 16 Consideration, net of closing costs $ 255.6 $ 87.3 $ 103.4 Net carrying value 332.2 99.3 92.1 Net (loss) gain on sale $ (76.6) $ (12.0) $ 11.3 The Company recognized net loss of $80.9 million and $94.8 million during the years ended December 31, 2023 and 2022, respectively, and net income of $21.5 million during the year ended December 31, 2021, which includes impairment of real estate of $7.1 million, $94.0 million and $9.5 million for the years ended December 31, 2023, 2022 and 2021, respectively, and net (loss) gain on sale from these facilities. The sale of the disposition facilities does not represent a strategic shift that has or will have a major effect on the Company’s operations and financial results, and therefore the results of operations attributable to these facilities have remained in continuing operations.

INTANGIBLE ASSETS AND LIABILITI

INTANGIBLE ASSETS AND LIABILITIES	12 Months Ended
INTANGIBLE ASSETS AND LIABILITIES	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND LIABILITIES	INTANGIBLE ASSETS AND LIABILITIES The following table summarizes the Company’s intangible assets and liabilities as of December 31, 2023 and 2022 (in thousands): As of December 31, 2023 2022 Lease Intangible Assets: Above market leases $ 7,496 $ 7,496 Tenant origination and absorption costs 43,071 58,578 Tenant relationship 16,983 20,119 Gross lease intangible assets 67,550 86,193 Accumulated amortization (36,653) (46,062) Lease intangible assets, net $ 30,897 $ 40,131 Lease Intangible Liabilities: Below market leases $ 68,573 $ 80,208 Accumulated amortization (36,041) (37,964) Lease intangible liabilities, net $ 32,532 $ 42,244 The following is a summary of real estate intangible amortization income (expense) for the years ended December 31, 2023, 2022 and 2021 (in thousands): Year Ended December 31, 2023 2022 2021 Increase (decrease) to rental income related to above/below market leases, net (1) $ 5,821 $ 6,624 $ (13,512) Depreciation and amortization related to tenant origination and absorption costs and tenant relationship (11,616) (17,591) (8,694) (1) Balance for the year ended December 31, 2021 includes $18.6 million of accelerated amortization related to the above market lease intangible associated with the Company’s lease with Avamere. See Note 4, “Investment in Real Estate Properties,” for further discussion. The remaining unamortized balance for these outstanding intangible assets and liabilities as of December 31, 2023 will be amortized for the years ending December 31 as follows (dollars in thousands): Lease Intangible Lease Intangible 2024 $ 5,523 $ 5,690 2025 4,612 5,139 2026 4,411 4,884 2027 3,115 4,442 2028 2,662 4,296 Thereafter 10,574 8,081 $ 30,897 $ 32,532 Weighted-average remaining amortization period 8.8 years 6.5 years

LOANS RECEIVABLE AND OTHER INVE

LOANS RECEIVABLE AND OTHER INVESTMENTS	12 Months Ended
LOANS RECEIVABLE AND OTHER INVESTMENTS	Dec. 31, 2023
Receivables [Abstract]
LOANS RECEIVABLE AND OTHER INVESTMENTS	LOANS RECEIVABLE AND OTHER INVESTMENTS As of December 31, 2023 and 2022, the Company’s loans receivable and other investments consisted of the following (dollars in thousands): As of December 31, 2023 Investment Quantity as of December 31, 2023 Property Type Principal Balance as of December 31, 2023 (1) Book Value as of December 31, 2023 Book Value as of December 31, 2022 Weighted Average Contractual Interest Rate / Rate of Return Weighted Average Annualized Effective Interest Rate / Rate of Return Maturity Date as of December 31, 2023 Loans Receivable: Mortgage 2 Behavioral Health $ 319,000 $ 319,000 $ 319,000 7.6 % 7.6 % 11/01/26 - 01/31/27 Other 12 Multiple 53,873 50,440 47,936 7.7 % 7.4 % 10/01/23 - 05/01/29 14 372,873 369,440 366,936 7.7 % 7.6 % Allowance for loan losses — (6,665) (6,611) $ 372,873 $ 362,775 $ 360,325 Other Investments: Preferred Equity 5 Skilled Nursing / Senior Housing 57,681 57,849 51,071 11.0 % 11.0 % N/A Total 19 $ 430,554 $ 420,624 $ 411,396 8.1 % 8.1 % (1) Principal balance includes amounts funded and accrued but unpaid interest / preferred return and excludes capitalizable fees. As of December 31, 2023, the Company has committed to provide up to $0.5 million of future funding related to one loan receivable investment. Additional information regarding the Company’s loans receivable is as follows (dollars in thousands): Year Ended December 31, 2023 2022 2021 Allowance for loan losses: Balance at the beginning of the year $ 6,611 $ 6,344 $ 2,458 Provision for loan losses 192 267 3,886 Write-off of uncollectible balances (138) — — Balance at the end of the year $ 6,665 $ 6,611 $ 6,344 As of December 31, 2023 2022 Deteriorated credit quality: Number of loans receivable investments 1 1 Principal balance $ 1,214 $ 1,214 Book value — — Nonaccrual status: Number of loans receivable investments 3 3 Book value $ — $ — As of December 31, 2023 and 2022, the Company did not consider any preferred equity investments to be impaired, and no preferred equity investments were on nonaccrual status.

DEBT

DEBT	12 Months Ended
DEBT	Dec. 31, 2023
Debt Disclosure [Abstract]
DEBT	DEBT Secured Indebtedness The Company’s secured debt consists of the following (dollars in thousands): Principal Balance as of December 31, (1) As of December 31, 2023 Weighted Average Interest Rate Weighted Average Effective Interest Rate (2) Interest Rate Type 2023 2022 Maturity Date Fixed Rate $ 48,143 $ 50,123 2.85 % 3.34 % May 2031 - (1) Principal balance does not include deferred financing costs, net of $0.8 million and $0.9 million as of December 31, 2023 and 2022, respectively. (2) Weighted average effective interest rate includes private mortgage insurance. During the year ended December 31, 2022, the Company repaid $15.4 million of debt secured by three facilities. During the year ended December 31, 2021, the Company sold two facilities and repaid $9.8 million of debt secured by the facilities which resulted in a $0.1 million loss on extinguishment of debt related to write-offs of deferred financing costs. Senior Unsecured Notes The Company’s senior unsecured notes consist of the following (dollars in thousands): Principal Balance as of December 31, (1) Title Maturity Date 2023 2022 5.125% senior unsecured notes due 2026 August 15, 2026 $ 500,000 $ 500,000 5.88% senior unsecured notes due 2027 May 17, 2027 100,000 100,000 3.90% senior unsecured notes due 2029 October 15, 2029 350,000 350,000 3.20% senior unsecured notes due 2031 December 1, 2031 800,000 800,000 $ 1,750,000 $ 1,750,000 (1) Principal balance does not include discount, net of $4.3 million and deferred financing costs, net of $10.5 million as of December 31, 2023 and does not include discount, net of $3.5 million and deferred financing costs, net of $12.0 million as of December 31, 2022. In addition, the weighted average effective interest rate as of December 31, 2023 was 4.01%. 4.80% Notes Due 2024. On May 29, 2019, the Operating Partnership and Sabra Capital Corporation, wholly owned subsidiaries of the Company (the “Issuers”), completed an underwritten public offering of $300.0 million aggregate principal amount of 4.80% senior unsecured notes due 2024 (the “2024 Notes”). The net proceeds were $295.3 million after deducting underwriting discounts and other offering expenses. On October 7, 2021, the Issuers redeemed all $300.0 million aggregate principal amount outstanding of the 2024 Notes at a cash redemption price of 110.045% of the principal amount being redeemed, plus accrued and unpaid interest. The redemption resulted in $32.7 million of redemption related costs and write-offs for the year ended December 31, 2021, consisting of $30.2 million in payments made to noteholders and legal fees for early redemption and $2.5 million of write-offs associated with unamortized discount and deferred financing costs. 5.125% Notes Due 2026 . In connection with the Company’s merger with Care Capital Properties (“CCP”), on August 17, 2017, the Operating Partnership assumed $500.0 million aggregate principal amount of 5.125% senior unsecured notes due 2026 (the “2026 Notes”) issued by Care Capital Properties, LP in July 2016. The 2026 Notes accrue interest at a rate of 5.125% per annum payable semiannually on February 15 and August 15 of each year. The Operating Partnership may, at its option, redeem the 2026 Notes at any time in whole or from time to time in part prior to their stated maturity. The redemption price for 2026 Notes that are redeemed will be equal to (i) 100% of their principal amount, together with accrued and unpaid interest thereon, if any, to (but excluding) the date of redemption, plus, (ii) if redeemed prior to May 15, 2026, a make-whole premium. Assuming the 2026 Notes are not redeemed, the 2026 Notes mature on August 15, 2026. 5.88% Notes Due 2027 . In connection with the Company’s merger with CCP, on August 17, 2017, the Operating Partnership assumed $100.0 million aggregate principal amount of unregistered senior unsecured notes due 2027 (the “2027 Notes”) issued by Care Capital Properties, LP in May 2016. The 2027 Notes accrue interest at a rate of 5.88% per annum payable semiannually on May 17 and November 17 of each year. The Operating Partnership may prepay the 2027 Notes, in whole at any time or in part from time to time, at 100% of the principal amount to be prepaid plus a make-whole premium. Assuming the 2027 Notes are not redeemed, the 2027 Notes mature on May 17, 2027. 3.90% Notes Due 2029. On October 7, 2019, the Issuers completed an underwritten public offering of $350.0 million aggregate principal amount of 3.90% senior unsecured notes due 2029 (the “2029 Notes”). The net proceeds were $340.5 million after deducting underwriting discounts and other offering expenses. A portion of the net proceeds was used to redeem all $200.0 million of 5.375% unsecured senior notes due 2023 (the “2023 Notes”), and the remaining net proceeds were used to repay borrowings outstanding on the Prior Revolving Credit Facility (as defined below). The 2029 Notes accrue interest at a rate of 3.90% per annum payable semiannually on April 15 and October 15 of each year. In 2019, Sabra Capital Corporation’s obligations as a co-issuer under the 2029 Notes were automatically released and discharged upon the redemption of the 2023 Notes. The 2029 Notes are redeemable at the option of the Operating Partnership, in whole or in part at any time and from time to time, prior to July 15, 2029, at a price equal to 100% of the principal amount, together with any accrued and unpaid interest to, but not including, the redemption date, plus a make-whole premium. The Operating Partnership may also redeem the 2029 Notes on or after July 15, 2029, at a price equal to 100% of the principal amount, together with any accrued and unpaid interest to, but not including, the redemption date. Assuming the 2029 Notes are not redeemed, the 2029 Notes mature on October 15, 2029. 3.20% Notes Due 2031. On September 30, 2021, the Operating Partnership completed an underwritten public offering of $800.0 million aggregate principal amount of 3.20% senior unsecured notes due 2031 (the “2031 Notes”). The net proceeds were $782.2 million after deducting underwriting discounts and other offering expenses. The net proceeds were used to repay $345.0 million of the Company’s U.S. dollar Prior Term Loans (as defined below), redeem all of the 2024 Notes, as discussed above, and to fund a portion of one of the Company’s mortgage loans. The 2031 Notes accrue interest at a rate of 3.20% per annum payable semiannually on June 1 and December 1 of each year, commencing on June 1, 2022. The 2031 Notes are redeemable at the option of the Operating Partnership, in whole or in part at any time and from time to time, prior to September 1, 2031, at a price equal to 100% of the principal amount, together with any accrued and unpaid interest to the redemption date, plus a “make-whole” premium. The Operating Partnership may also redeem the 2031 Notes on or after September 1, 2031, at a price equal to 100% of the principal amount, together with any accrued and unpaid interest to the redemption date. Assuming the 2031 Notes are not redeemed, the 2031 Notes mature on December 1, 2031. The obligations under the 2027 Notes are fully and unconditionally guaranteed, jointly and severally, on an unsecured basis, by Sabra and one of its non-operating subsidiaries, subject to release under certain customary circumstances. The obligations under the 2026 Notes, 2029 Notes and 2031 Notes are fully and unconditionally guaranteed, on an unsecured basis, by Sabra; provided, however, that such guarantee is subject to release under certain customary circumstances. The indenture governing the 2026 Notes contains certain covenants that, among other things, limits the ability of Sabra, the Issuers and their subsidiaries to: (i) consummate a merger, consolidate or sell all or substantially all of our consolidated assets and (ii) incur secured or unsecured indebtedness. In addition, Sabra, the Operating Partnership and their subsidiaries are required to maintain at all times consolidated unencumbered total asset value in an amount not less than 150% of the aggregate outstanding principal amount of the Company’s consolidated unsecured debt. The agreement governing the 2027 Notes provides for customary events of default, including, but not limited to, the failure to make payments of interest or premium, if any, on, or principal of, the 2027 Notes, the failure to comply with certain covenants and agreements specified in the agreement governing the 2027 Notes for a period of time after notice has been provided, the acceleration of other indebtedness resulting from the failure to pay principal on such other indebtedness prior to its maturity, and certain events of insolvency. In addition, certain change of control events constitute an event of default under the agreement governing the 2027 Notes. If any event of default occurs, the principal of, premium, if any, and accrued interest on all the then-outstanding 2027 Notes may become due and payable immediately. The indenture governing the 2029 Notes and 2031 Notes contains restrictive covenants that, among other things, restrict the ability of Sabra, the Issuers and their subsidiaries to: (i) incur or guarantee additional indebtedness; (ii) incur or guarantee secured indebtedness; and (iii) merge or consolidate or sell all or substantially all of their assets. The indenture governing the 2029 Notes and 2031 Notes also provides for customary events of default, including, but not limited to, the failure to make payments of interest or premium, if any, on, or principal of, the 2029 Notes and 2031 Notes, the failure to comply with certain covenants and agreements specified in the indenture for a period of time after notice has been provided, the acceleration of other indebtedness resulting from the failure to pay principal on such other indebtedness prior to its maturity, and certain events of insolvency. If any event of default occurs, the principal of, premium, if any, and accrued interest on all the then-outstanding 2029 Notes and 2031 Notes may become due and payable immediately. The indenture governing the 2029 Notes and 2031 Notes requires Sabra, the Issuers and their subsidiaries to maintain Total Unencumbered Assets (as defined in the indentures) of at least 150% of the Company’s unsecured indebtedness. The Company was in compliance with all applicable financial covenants under the indentures and agreements (the “Senior Notes Indentures”) governing the 2026 Notes, 2027 Notes, 2029 Notes and 2031 Notes (collectively, the “Senior Notes”) outstanding as of December 31, 2023. Credit Agreement On September 9, 2019, the Operating Partnership and Sabra Canadian Holdings, LLC (together, the “Borrowers”), Sabra and the other parties thereto entered into a fifth amended and restated unsecured credit agreement (the “Prior Credit Agreement”). The Prior Credit Agreement included a $1.0 billion revolving credit facility (the “Prior Revolving Credit Facility”), a $436.3 million U.S. dollar term loan and a CAD $125.0 million Canadian dollar term loan (collectively, the “Prior Term Loans”). Further, up to $175.0 million of the Prior Revolving Credit Facility could be used for borrowings in certain foreign currencies. The Prior Credit Agreement also contained an accordion feature that allowed for an increase in the total available borrowings to $2.75 billion, subject to terms and conditions. During the years ended December 31, 2022 and 2021, the Company recognized $0.4 million and $1.8 million, respectively, of loss on extinguishment of debt related to write-offs of deferred financing costs in connection with the partial pay down of the U.S. dollar Prior Term Loan. Borrowings under the Prior Revolving Credit Facility bore interest on the outstanding principal amount at a rate equal to a ratings-based applicable interest margin plus, CDOR for Canadian dollar borrowings, or at the Operating Partnership’s option for U.S. dollar borrowings, either (a) LIBOR or (b) a base rate determined as the greater of (i) the federal funds rate plus 0.5%, (ii) the prime rate, and (iii) one-month LIBOR plus 1.0% (the “Prior Base Rate”). The ratings-based applicable interest margin for borrowings varied based on the Debt Ratings, as defined in the Prior Credit Agreement, and ranged from 0.775% to 1.45% per annum for CDOR or LIBOR based borrowings and 0.00% to 0.45% per annum for borrowings at the Prior Base Rate. In addition, the Operating Partnership paid a facility fee ranging between 0.125% and 0.300% per annum based on the aggregate amount of commitments under the Prior Revolving Credit Facility regardless of amounts outstanding thereunder. The U.S. dollar Prior Term Loan bore interest on the outstanding principal amount at a rate equal to a ratings-based applicable interest margin plus, at the Operating Partnership’s option, either (a) LIBOR or (b) the Prior Base Rate. The ratings-based applicable interest margin for borrowings varied based on the Debt Ratings and ranged from 0.85% to 1.65% per annum for LIBOR based borrowings and 0.00% to 0.65% per annum for borrowings at the Prior Base Rate. The Canadian dollar Prior Term Loan bore interest on the outstanding principal amount at a rate equal to CDOR plus an interest margin ranged from 0.85% to 1.65% depending on the Debt Ratings. On January 4, 2023, the Borrowers, and the other parties thereto entered into a sixth amended and restated unsecured credit agreement (the “Credit Agreement”). During the year ended December 31, 2023, the Company recorded $18.1 million of deferred financing costs related to the Credit Agreement and recognized $1.5 million of loss on extinguishment of debt related to write-offs of deferred financing costs in connection with amending and restating the Prior Credit Agreement. The Credit Agreement includes a $1.0 billion revolving credit facility (the “Revolving Credit Facility”), a $430.0 million U.S. dollar term loan and a CAD $150.0 million Canadian dollar term loan (collectively, the “Term Loans”). Further, up to $350.0 million of the Revolving Credit Facility may be used for borrowings in certain foreign currencies. The Credit Agreement also contains an accordion feature that can increase the total available borrowings to $2.75 billion, subject to terms and conditions. The Revolving Credit Facility has a maturity date of January 4, 2027, and includes two six-month extension options. The Term Loans have a maturity date of January 4, 2028. As of December 31, 2023, there was $94.4 million (including CAD $44.3 million) outstanding under the Revolving Credit Facility and $905.6 million available for borrowing. Borrowings under the Revolving Credit Facility bear interest on the outstanding principal amount at a rate equal to a ratings-based applicable interest margin plus, CDOR for Canadian dollar borrowings, or at the Operating Partnership’s option for U.S. dollar borrowings, either (a) Daily Simple SOFR, as defined in the Credit Agreement, or (b) a base rate determined as the greater of (i) the federal funds rate plus 0.5%, (ii) the prime rate, (iii) Term SOFR, as defined in the Credit Agreement, plus 1.0% (the “Base Rate”), and (iv) 1.00%. The ratings-based applicable interest margin for borrowings will vary based on the Debt Ratings, as defined in the Credit Agreement, and will range from 0.775% to 1.450% per annum for Daily Simple SOFR based borrowings and 0.00% to 0.450% per annum for borrowings at the Base Rate. As of December 31, 2023, the weighted average interest rate on the Revolving Credit Facility was 6.57%. In addition, the Operating Partnership pays a facility fee ranging between 0.125% and 0.300% per annum based on the aggregate amount of commitments under the Revolving Credit Facility regardless of amounts outstanding thereunder. The U.S. dollar Term Loan bears interest on the outstanding principal amount at a ratings-based applicable interest margin plus, at the Operating Partnership’s option, either (a) Term SOFR or (b) the Base Rate. The ratings-based applicable interest margin for borrowings will vary based on the Debt Ratings and will range from 0.850% to 1.650% per annum for Term SOFR based borrowings and 0.00% to 0.650% per annum for borrowings at the Base Rate. As of December 31, 2023, the interest rate on the U.S. dollar Term Loan was 6.73%. The Canadian dollar Term Loan bears interest on the outstanding principal amount at a rate equal CDOR plus an interest margin that will range from 0.850% to 1.650% depending on the Debt Ratings. As of December 31, 2023, the interest rate on the Canadian dollar Term Loan was 6.71%. The Company has interest rate swaps and interest rate collars that fix and set a cap and floor, respectively, for the SOFR portion of the interest rate for $430.0 million of SOFR-based borrowings under its U.S. dollar Term Loan at a weighted average rate of 2.69% and interest rate swaps that fix the CDOR portion of the interest rate for CAD $150.0 million of CDOR-based borrowings under its Canadian dollar Term Loan at a rate of 1.63%. As of December 31, 2023, the effective interest rate on the U.S. dollar and Canadian dollar Term Loans was 3.94% and 2.88%, respectively. In addition, the Canadian dollar Term Loan and the CAD $44.3 million outstanding under the Revolving Credit Facility as of December 31, 2023 are designated as net investment hedges. See Note 9, “Derivative and Hedging Instruments,” for further information. The obligations of the Borrowers under the Credit Agreement are guaranteed by the Company and certain of its subsidiaries. The Credit Agreement contains customary covenants that include restrictions or limitations on the ability to pay dividends, incur additional indebtedness, engage in non-healthcare related business activities, enter into transactions with affiliates and sell or otherwise transfer certain assets as well as customary events of default. The Credit Agreement also requires Sabra, through the Operating Partnership, to comply with specified financial covenants, which include a maximum total leverage ratio, a maximum secured debt leverage ratio, a minimum fixed charge coverage ratio, a maximum unsecured leverage ratio, a minimum tangible net worth requirement and a minimum unsecured interest coverage ratio. As of December 31, 2023, the Company was in compliance with all applicable financial covenants under the Credit Agreement. Interest Expense During the years ended December 31, 2023, 2022 and 2021, the Company incurred interest expense of $113.0 million, $105.5 million and $98.6 million, respectively. Interest expense includes non-cash interest expense of $12.3 million, $11.1 million and $8.4 million for the years ended December 31, 2023, 2022 and 2021, respectively. As of December 31, 2023 and 2022, the Company had $16.5 million and $18.2 million, respectively, of accrued interest included in accounts payable and accrued liabilities on the accompanying consolidated balance sheets. Maturities The following is a schedule of maturities for the Company’s outstanding debt as of December 31, 2023 (in thousands): Secured Revolving Credit Facility (1) Term Loans Senior Notes Total 2024 $ 2,033 $ — $ — $ — $ 2,033 2025 2,089 — — — 2,089 2026 2,147 — — 500,000 502,147 2027 2,206 94,429 — 100,000 196,635 2028 2,266 — 543,190 — 545,456 Thereafter 37,402 — — 1,150,000 1,187,402 Total Debt 48,143 94,429 543,190 1,750,000 2,435,762 Discount, net — — — (4,258) (4,258) Deferred financing costs, net (842) — (6,070) (10,489) (17,401) Total Debt, Net $ 47,301 $ 94,429 $ 537,120 $ 1,735,253 $ 2,414,103 (1) Revolving Credit Facility is subject to two six-month extension options.

DERIVATIVE AND HEDGING INSTRUME

DERIVATIVE AND HEDGING INSTRUMENTS	12 Months Ended
DERIVATIVE AND HEDGING INSTRUMENTS	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE AND HEDGING INSTRUMENTS	DERIVATIVE AND HEDGING INSTRUMENTS The Company is exposed to various market risks, including the potential loss arising from adverse changes in interest rates and foreign exchange rates. The Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates and foreign exchange rates. The Company’s derivative financial instruments are used to manage differences in the amount of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s investments and borrowings. Certain of the Company’s foreign operations expose the Company to fluctuations of foreign interest rates and exchange rates. These fluctuations may impact the value in the Company’s functional currency, the U.S. dollar, of the Company’s investment in foreign operations, the cash receipts and payments related to these foreign operations and payments of interest and principal under Canadian dollar denominated debt. The Company enters into derivative financial instruments to protect the value of its foreign investments and fix a portion of the interest payments for certain debt obligations. The Company does not enter into derivatives for speculative purposes. Cash Flow Hedges The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish these objectives, the Company primarily uses interest rate swaps and collars as part of its interest rate risk management strategy. As of December 31, 2023, approximately $6.9 million of gains, which are included in accumulated other comprehensive income, are expected to be reclassified into earnings in the next 12 months. Net Investment Hedges The Company is exposed to fluctuations in foreign exchange rates on investments it holds in Canada. The Company uses cross currency interest rate swaps to hedge its exposure to changes in foreign exchange rates on these foreign investments. The following presents the notional amount of derivative instruments as of the dates indicated (in thousands): As of December 31, 2023 2022 Derivatives designated as cash flow hedges: Denominated in U.S. Dollars (1) $ 753,750 $ 436,250 Denominated in Canadian Dollars (2) $ 300,000 $ 125,000 Derivatives designated as net investment hedges: Denominated in Canadian Dollars $ 55,335 $ 55,991 Financial instrument designated as net investment hedge: Denominated in Canadian Dollars $ 194,300 $ 329,500 Derivatives not designated as net investment hedges: Denominated in Canadian Dollars $ 965 $ 309 (1) Balance as of December 31, 2023 includes two forward starting interest rate swaps with an effective date of August 2024 and an aggregate notional amount of $323.8 million. (2) Balance as of December 31, 2023 includes two forward starting interest rate swaps with an effective date of September 2024 and an aggregate notional amount of CAD $150.0 million. Derivative and Financial Instruments Designated as Hedging Instruments The following is a summary of the derivative and financial instruments designated as hedging instruments held by the Company at December 31, 2023 and 2022 (dollars in thousands): Count as of December 31, 2023 Maturity Dates Fair Value as of December 31, Type Designation 2023 2022 Balance Sheet Location Assets: Interest rate swaps Cash flow 5 $ 6,002 $ 11,004 2024 - 2028 Accounts receivable, prepaid expenses and other assets, net Interest rate collars Cash flow 2 3,216 6,622 2024 Accounts receivable, prepaid expenses and other assets, net Forward starting interest rate swaps Cash flow 4 6,736 — 2028 Accounts receivable, prepaid expenses and other assets, net Cross currency interest rate swaps Net investment 2 2,964 3,851 2025 Accounts receivable, prepaid expenses and other assets, net $ 18,918 $ 21,477 Liabilities: CAD borrowings under Revolving Credit Facility Net investment 1 33,429 150,982 2027 Revolving credit facility CAD Term Loan Net investment 1 113,190 92,288 2028 Term loans, net $ 146,619 $ 243,270 The following presents the effect of the Company’s derivative and financial instruments designated as hedging instruments on the consolidated statements of income (loss) and the consolidated statements of equity for the years ended December 31, 2023, 2022 and 2021 (in thousands): Gain (Loss) Recognized in Other Comprehensive Income (Loss) Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) Income Statement Location For the year ended December 31, 2023 2022 2021 2023 2022 2021 Cash Flow Hedges: Interest rate products $ 13,116 $ 22,032 $ 17,408 $ 8,332 $ (4,179) $ (12,774) Interest expense Net Investment Hedges: Foreign currency products (664) 2,233 (272) — — — N/A CAD borrowings under Revolving Credit Facility (3,456) 9,454 — — — — N/A CAD Term Loan (2,465) 6,150 (338) — — — N/A $ 6,531 $ 39,869 $ 16,798 $ 8,332 $ (4,179) $ (12,774) During the years ended December 31, 2023, 2022 and 2021, no cash flow hedges were determined to be ineffective. Derivatives Not Designated as Hedging Instruments As of December 31, 2023, the Company had no material balances related to derivatives not designated as hedging instruments. During the years ended December 31, 2023, 2022 and 2021, the Company recorded $18,000, $0.1 million and $22,000 of other expense, respectively, related to the portion of derivatives not designated as hedging instruments. Offsetting Derivatives The Company enters into master netting arrangements, which reduce credit risk by permitting net settlement of transactions with the same counterparty. The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of December 31, 2023 and 2022 (in thousands): As of December 31, 2023 Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 18,918 $ — $ 18,918 $ — $ — $ 18,918 Offsetting Liabilities: Derivatives $ — $ — $ — $ — $ — $ — As of December 31, 2022 Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 21,477 $ — $ 21,477 $ — $ — $ 21,477 Offsetting Liabilities: Derivatives $ — $ — $ — $ — $ — $ — Credit Risk-related Contingent Features The Company has agreements with each of its derivative counterparties that contain a provision pursuant to which the Company could be declared in default on the derivative obligation if the Company defaults on any of its indebtedness, including a default where repayment of the indebtedness has not been accelerated by the lender. As of December 31, 2023, the Company had no derivatives in a net liability position related to these agreements.

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	12 Months Ended
FAIR VALUE DISCLOSURES	Dec. 31, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	FAIR VALUE DISCLOSURES Financial Instruments The fair value for certain financial instruments is derived using a combination of market quotes, pricing models and other valuation techniques that involve significant management judgment. The price transparency of financial instruments is a key determinant of the degree of judgment involved in determining the fair value of the Company’s financial instruments. Financial instruments for which actively quoted prices or pricing parameters are available and whose markets contain orderly transactions will generally have a higher degree of price transparency than financial instruments whose markets are inactive or consist of non-orderly trades. The Company evaluates several factors when determining if a market is inactive or when market transactions are not orderly. The carrying values of cash and cash equivalents, restricted cash, accounts payable, accrued liabilities and the Credit Agreement are reasonable estimates of fair value because of the short-term maturities of these instruments. Fair values for other financial instruments are derived as follows: Loans receivable : These instruments are presented on the accompanying consolidated balance sheets at their amortized cost and not at fair value. The fair values of the loans receivable were estimated using an internal valuation model that considered the expected cash flows for the loans receivable, as well as the underlying collateral value and other credit enhancements as applicable. The Company utilized discount rates ranging from 6% to 15% with a weighted average rate of 6% in its fair value calculation. As such, the Company classifies these instruments as Level 3. Preferred equity investments : These instruments are presented on the accompanying consolidated balance sheets at their cost and not at fair value. The fair values of the preferred equity investments were estimated using an internal valuation model that considered the expected future cash flows for the preferred equity investments, the underlying collateral value and other credit enhancements. The Company utilized discount rates ranging from 10% to 15% with a weighted average rate of 11% in its fair value calculation. As such, the Company classifies these instruments as Level 3. Derivative instruments : The Company’s derivative instruments are presented at fair value on the accompanying consolidated balance sheets. The Company estimates the fair value of derivative instruments, including its interest rate swaps, interest rate collars and cross currency swaps, using the assistance of a third party using inputs that are observable in the market, which include forward yield curves and other relevant information. Although the Company has determined that the majority of the inputs used to value its derivative financial instruments fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivative financial instruments utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by itself and its counterparties. The Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its derivative financial instruments. As a result, the Company has determined that its derivative financial instruments valuations in their entirety are classified in Level 2 of the fair value hierarchy. Senior Notes : These instruments are presented on the accompanying consolidated balance sheets at their outstanding principal balance, net of unamortized deferred financing costs and premiums/discounts and not at fair value. The fair values of the Senior Notes were determined using third-party market quotes derived from orderly trades. As such, the Company classifies these instruments as Level 2. Secured indebtedness : These instruments are presented on the accompanying consolidated balance sheets at their outstanding principal balance, net of unamortized deferred financing costs and premiums/discounts and not at fair value. The fair values of the Company’s secured debt were estimated using a discounted cash flow analysis based on management’s estimates of current market interest rates for instruments with similar characteristics, including remaining loan term, loan-to-value ratio, type of collateral and other credit enhancements. The Company utilized a rate of 6% in its fair value calculation. As such, the Company classifies these instruments as Level 3. The following are the face values, carrying amounts and fair values of the Company’s financial instruments as of December 31, 2023 and 2022 whose carrying amounts do not approximate their fair value (in thousands): As of December 31, 2023 As of December 31, 2022 Face (1) Carrying (2) Fair Face (1) Carrying (2) Fair Financial assets: Loans receivable $ 372,873 $ 362,775 $ 383,141 $ 370,364 $ 360,325 $ 370,188 Preferred equity investments 57,681 57,849 59,526 50,902 51,071 51,995 Financial liabilities: Senior Notes 1,750,000 1,735,253 1,567,428 1,750,000 1,734,431 1,463,041 Secured indebtedness 48,143 47,301 36,279 50,123 49,232 38,149 (1) Face value represents amounts contractually due under the terms of the respective agreements. (2) Carrying amount represents the book value of financial instruments, including unamortized premiums/discounts and deferred financing costs. The Company determined the fair value of financial instruments as of December 31, 2023 whose carrying amounts do not approximate their fair value with valuation methods utilizing the following types of inputs (in thousands): Fair Value Measurements Using Total Quoted Prices in Significant Other Significant Financial assets: Loans receivable $ 383,141 $ — $ — $ 383,141 Preferred equity investments 59,526 — — 59,526 Financial liabilities: Senior Notes 1,567,428 — 1,567,428 — Secured indebtedness 36,279 — — 36,279 Disclosure of the fair value of financial instruments is based on pertinent information available to the Company at the applicable dates and requires a significant amount of judgment. Transaction volume for certain of the Company’s financial instruments remains relatively low, which has made the estimation of fair values difficult. Therefore, both the actual results and the Company’s estimate of fair value at a future date could be materially different. Items Measured at Fair Value on a Recurring Basis During the year ended December 31, 2023, the Company recorded the following amounts measured at fair value (in thousands): Fair Value Measurements Using Total Quoted Prices in Significant Other Significant Recurring Basis: Financial assets: Interest rate swaps $ 6,002 $ — $ 6,002 $ — Interest rate collars 3,216 — 3,216 — Forward starting interest rate swaps 6,736 — 6,736 — Cross currency interest rate swaps 2,964 — 2,964 —

EQUITY

EQUITY	12 Months Ended
EQUITY	Dec. 31, 2023
Equity [Abstract]
EQUITY	EQUITY Common Stock On December 11, 2019, the Company established an at-the-market equity offering program (the “2019 ATM Program”) pursuant to which shares of its common stock having an aggregate gross sales price of up to $400.0 million may be sold from time to time (i) by the Company through a consortium of banks acting as sales agents or directly to the banks acting as principals or (ii) by a consortium of banks acting as forward sellers on behalf of any forward purchasers pursuant to a forward sale agreement. On August 6, 2021, the Company terminated the 2019 ATM Program pursuant to its termination rights. During the year ended December 31, 2021, the Company sold 2.2 million shares under the 2019 ATM Program at an average price of $17.78 per share, generating gross proceeds of $38.8 million (before $0.6 million of commissions), excluding sales utilizing the forward feature of the 2019 ATM Program, as described below. Additionally, during the year ended December 31, 2021, the Company utilized the forward feature of the 2019 ATM Program to allow for the sale of up to 6.8 million shares of the Company’s common stock at an initial weighted average price of $17.49 per share, net of commissions. During the year ended December 31, 2021, the Company settled 7.9 million (inclusive of the 6.8 million shares referenced in the immediately preceding sentence, and constituting all of the open forward positions under the 2019 ATM Program) at a weighted average net price of $17.36 per share, after commissions and fees, resulting in net proceeds of $137.0 million. On August 6, 2021, the Company established a new at-the-market equity offering program (the “Prior ATM Program”) pursuant to which shares of its common stock having an aggregate gross sales price of up to $500.0 million may be sold from time to time (i) by the Company through a consortium of banks acting as sales agents or directly to the banks acting as principals or (ii) by a consortium of banks acting as forward sellers on behalf of any forward purchasers pursuant to a forward sale agreement. On November 9, 2022, the Company terminated the Prior ATM Program. During the year ended December 31, 2021, the Company utilized the forward feature of the Prior ATM Program to allow for the sale of up to 1.7 million shares of the Company’s common stock at an initial weighted average price of $14.56 per share, net of commissions, and settled all of the open forward positions under the Prior ATM Program by issuing 1.7 million shares at a weighted average net price of $14.23 per share, after commissions and fees, resulting in net proceeds of $24.2 million. No other shares were sold under the Prior ATM Program during the year ended December 31, 2021. No shares were sold under the Prior ATM Program and the Company did not utilize the forward feature of the Prior ATM Program during the period from January 1, 2022 to November 9, 2022. On October 15, 2021, the Company completed an underwritten public offering of 7.8 million newly issued shares of its common stock pursuant to an effective registration statement. The Company received net proceeds, before expenses, of $112.6 million from the offering at a price of $14.40 per share. These proceeds were used to fund a portion of one of the Company’s mortgage loan investments. On February 23, 2023, the Company established an at-the-market equity offering program (the “ATM Program”) pursuant to which shares of its common stock having an aggregate gross sales price of up to $500.0 million may be sold from time to time (i) by the Company through a consortium of banks acting as sales agents or directly to the banks acting as principals or (ii) by a consortium of banks acting as forward sellers on behalf of any forward purchasers pursuant to a forward sale agreement. The use of a forward sale agreement would allow the Company to lock in a share price on the sale of shares at the time the agreement is effective, but defer receiving the proceeds from the sale of the shares until a later date. The Company may also elect to cash settle or net share settle all or a portion of its obligations under any forward sale agreement. The forward sale agreements have a one year term during which time the Company may settle the forward sales by delivery of physical shares of common stock to the forward purchasers or, at the Company’s election, in cash or net shares. The forward sale price that the Company expects to receive upon settlement will be the initial forward price established upon the effective date, subject to adjustments for (i) the forward purchasers’ stock borrowing costs and (ii) certain fixed price reductions during the term of the agreement. During the year ended December 31, 2023, no shares were sold under the ATM Program and the Company did not utilize the forward feature of the ATM Program. As of December 31, 2023, the Company had $500.0 million available under the ATM Program. During the years ended December 31, 2023, 2022 and 2021, the Company issued 0.3 million, 0.6 million and 0.2 million shares, respectively, of common stock as a result of restricted stock unit vestings. Upon any payment of shares to teammates as a result of restricted stock unit vestings, the teammates’ related tax withholding obligation will generally be satisfied by the Company, reducing the number of shares to be delivered by a number of shares necessary to satisfy the related applicable tax withholding obligation. During the years ended December 31, 2023, 2022 and 2021, the Company incurred $1.8 million, $3.3 million and $2.1 million, respectively, in tax withholding obligations on behalf of its teammates that were satisfied through a reduction in the number of shares delivered to those participants. Accumulated Other Comprehensive Income The following is a summary of the Company’s accumulated other comprehensive income (in thousands): As of December 31, 2023 2022 Foreign currency translation gain $ 963 $ 1,168 Unrealized gain on cash flow hedges 22,782 17,895 Total accumulated other comprehensive income $ 23,745 $ 19,063

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
STOCK-BASED COMPENSATION	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION All stock-based awards are subject to the terms of the 2009 Performance Incentive Plan, which was assumed by the Company effective as of November 15, 2010 in connection with the Company’s separation from Sun and was most recently amended and restated in April 2017. The 2009 Performance Incentive Plan provides for the granting of stock-based compensation, including stock options, time-based stock units, funds from operations-based stock units (“FFO Units”), relative total stockholder return-based stock units (“TSR Units”) and performance-based restricted stock units to directors, officers and other teammates in connection with their employment with or services provided to the Company. Restricted Stock Units and Performance-Based Restricted Stock Units Under the 2009 Performance Incentive Plan, restricted stock units and performance-based restricted stock units generally have a contractual life or vest over a three withholding obligation. The value of the shares withheld is dependent on the closing price of the Company’s common stock on the date the relevant transaction occurs. The following table summarizes additional information concerning restricted stock units at December 31, 2023: Restricted Stock Units Weighted Average Grant Date Fair Value Per Unit Unvested as of December 31, 2022 2,147,784 $ 15.07 Granted 832,308 14.73 Vested (591,745) 15.34 Dividends reinvested 237,195 14.96 Cancelled/forfeited (156,275) 19.51 Unvested as of December 31, 2023 2,469,267 $ 14.61 As of December 31, 2023, the weighted average remaining vesting period of restricted stock units was 2.7 years. The weighted average fair value per share at the date of grant for restricted stock units for the years ended December 31, 2023, 2022 and 2021 was $14.73, $12.78 and $15.55, respectively. The total fair value of units vested during the years ended December 31, 2023, 2022 and 2021 was $9.1 million, $5.7 million and $15.9 million, respectively. The fair value of the TSR Units is estimated on the date of grant using a Monte Carlo valuation model that uses the assumptions noted in the table below. The risk-free rate is based on the U.S. Treasury yield curve in effect at the grant date for the expected performance period. Expected volatility is based on historical volatility for the most recent 3-year period ending on the grant date for the Company and the selected peer companies, and is calculated on a daily basis. The following are the key assumptions used in this valuation: 2023 2022 2021 Risk free interest rate 3.98% - 4.13% 0.99% - 4.13% 0.17% - 0.99% Expected stock price volatility 30.17% - 56.11% 53.60% - 56.11% 53.17% - 53.60% Expected service period 3.0 years 3.0 years 3.0 years Expected dividend yield (assuming full reinvestment) — % — % — % During the years ended December 31, 2023, 2022 and 2021, the Company recognized $7.9 million, $7.5 million and $7.9 million, respectively, of stock-based compensation expense included in general and administrative expense in the consolidated statements of income (loss). As of December 31, 2023, there was $25.7 million of total unrecognized stock-based compensation expense related to unvested awards, which is expected to be recognized over a weighted average period of 2.7 years. Employee Benefit Plan The Company maintains a 401(k) plan that allows for eligible participants to defer compensation, subject to certain limitations imposed by the Internal Revenue Code of 1986, as amended (the “Code”). The Company provides a discretionary matching contribution of up to 4% of each participant’s eligible compensation. During each of the years ended December 31, 2023, 2022 and 2021, the Company’s matching contributions were $0.3 million.

INCOME TAXES

INCOME TAXES	12 Months Ended
INCOME TAXES	Dec. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company elected to be treated as a REIT with the filing of its U.S. federal income tax return for the taxable year beginning January 1, 2011. To qualify as a REIT, the Company must meet a number of organizational and operational requirements, including a requirement to distribute at least 90% of its taxable ordinary income. In addition, the Company is required to meet certain asset and income tests. As a REIT, the Company generally will not be subject to corporate level federal income tax on taxable income that it distributes to its stockholders. The Company also elected to treat certain of its consolidated subsidiaries as taxable REIT subsidiaries, which are subject to federal, state and foreign income taxes. In addition, as a result of our investments in Canada, the Company is subject to income taxes under the laws of Canada. The following is a summary of the Company’s provision for income taxes and deferred taxes (in thousands): Year Ended December 31, 2023 2022 2021 Provision for federal, state and local income taxes $ 2,002 $ 1,234 $ 2,263 Provision (benefit) for foreign income taxes — 8 (418) Income tax expense $ 2,002 $ 1,242 $ 1,845 As of December 31, 2023 2022 Deferred tax assets: Federal $ 9,553 $ 6,390 Valuation allowance on federal (9,553) (6,390) Foreign 12,211 8,455 Valuation allowance on foreign (12,169) (8,430) Deferred tax (liabilities): Foreign (42) (25) $ — $ — The Company classifies interest and penalties from significant uncertain tax positions as interest expense and operating expenses, respectively, in its consolidated financial statements. During the years ended December 31, 2023, 2022 and 2021, the Company did not incur any such interest or penalties. With certain exceptions, the tax years 2020 and thereafter remain open to examination by the major taxing jurisdictions with which the Company files tax returns.

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	12 Months Ended
EARNINGS PER COMMON SHARE	Dec. 31, 2023
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	EARNINGS PER COMMON SHARE The following table illustrates the computation of basic and diluted earnings per share (in thousands, except share and per share amounts): Year Ended December 31, 2023 2022 2021 Numerator Net income (loss) $ 13,756 $ (77,605) $ (113,256) Denominator Basic weighted average common shares and common equivalents 231,203,391 230,947,895 219,073,027 Dilutive restricted stock units 1,589,387 — — Diluted weighted average common shares 232,792,778 230,947,895 219,073,027 Net income (loss), per: Basic common share $ 0.06 $ (0.34) $ (0.52) Diluted common share $ 0.06 $ (0.34) $ (0.52) During the years ended December 31, 2023, 2022 and 2021, approximately 500, 0.9 million and 1.0 million restricted stock units, respectively, and during the year ended December 31, 2021, approximately 25,000 shares related to forward equity sale agreements, were not included in computing diluted earnings per share because they were considered anti-dilutive.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Environmental As an owner of real estate, the Company is subject to various environmental laws of federal, state and local governments. The Company is not aware of any environmental liability that could have a material adverse effect on its financial condition or results of operations. However, changes in applicable environmental laws and regulations, the uses and conditions of properties in the vicinity of the Company’s properties, the activities of its tenants and other environmental conditions of which the Company is unaware with respect to the properties could result in future environmental liabilities. As of December 31, 2023, the Company does not expect that compliance with existing environmental laws will have a material adverse effect on the Company’s financial condition and results of operations. Legal Matters From time to time, the Company and its subsidiaries are party to legal proceedings that arise in the ordinary course of its business. Management is not aware of any legal proceedings where the likelihood of a loss contingency is reasonably possible and the amount or range of reasonably possible losses is material to the Company’s results of operations, financial condition or cash flows.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The Company evaluates subsequent events up until the date the consolidated financial statements are issued. Dividend Declaration On February 1, 2024, the Company’s board of directors declared a quarterly cash dividend of $0.30 per share of common stock. The dividend will be paid on February 29, 2024 to common stockholders of record as of the close of business on February 13, 2024.

SCHEDULE III - REAL ESTATE ASSE

SCHEDULE III - REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION	12 Months Ended
	Dec. 31, 2023
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
SCHEDULE III - REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION	SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION As of December 31, 2023 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Skilled Nursing/Transitional Care Facilities Bedford, NH 100% $ 5,006 $ 1,911 $ 12,245 $ 14,156 $ — $ 1,911 $ 10,546 $ 12,457 $ (5,272) 1992/2010, 2019 11/15/10 36 Milford, NH 100% — 312 1,679 1,991 — 312 1,168 1,480 (986) 1890/2005 11/15/10 20 North Conway, NH 100% 10,337 417 5,352 5,769 — 417 4,374 4,791 (2,006) 1988/2009 11/15/10 43 Wolfeboro, NH 100% 8,708 454 4,531 4,985 — 454 3,747 4,201 (1,669) 1984/1986, 1987, 2009 11/15/10 41 Middletown, DE 100% — 1,650 21,730 23,380 — 1,650 21,730 23,380 (7,574) 2005 08/01/11 40 Dover, DE 100% — 4,940 15,500 20,440 — 4,940 15,500 20,440 (5,676) 1996/2016 08/01/11 40 Wilmington, DE 100% — 2,460 25,240 27,700 12,436 2,460 37,676 40,136 (9,841) 2009/2022 08/01/11 40 Millsboro, DE 100% — 1,640 22,620 24,260 — 1,632 22,620 24,252 (8,095) 2008 08/01/11 40 Warrington, PA 100% — 2,617 11,662 14,279 395 2,617 288 2,905 — 1958/2009/ 2016 03/30/12 40 Duffield, VA 100% — 509 5,018 5,527 1,333 509 5,964 6,473 (2,388) 1981/2013 05/10/12 40 Arlington, TX 100% — 3,783 14,219 18,002 — 3,783 13,702 17,485 (3,956) 2003/2012 11/30/12 40 Rockport, TX 100% — 1,005 6,628 7,633 — 1,005 6,212 7,217 (1,824) 2002/2012, 2018 11/30/12 40 Lincoln, NE 100% — 6,368 29,919 36,287 — 6,368 29,919 36,287 (8,351) 1962/1996, 2013 02/14/14 40 Fremont, NE 100% — 615 16,176 16,791 — 615 16,176 16,791 (4,953) 2008 02/14/14 40 Fremont, NE 100% — 615 2,943 3,558 — 615 2,943 3,558 (1,069) 1970/1979, 1983, 1994 02/14/14 40 Bartlesville, OK 100% — 1,332 6,904 8,236 986 1,332 7,890 9,222 (2,190) 1989/2019 10/29/14 40 Oklahoma City, OK 100% — 2,189 23,567 25,756 2,534 2,189 25,749 27,938 (6,639) 1963/1984, 2018, 2019 10/29/14 40 Norman, OK 100% — 869 5,236 6,105 785 869 6,021 6,890 (1,847) 2001/2013, 2019 10/29/14 40 Minneapolis, MN 100% — 2,931 6,943 9,874 1,190 2,931 7,999 10,930 (1,800) 1941/2014, 2019 08/17/17 40 Eugene, OR 100% — 2,205 28,700 30,905 2,252 2,205 30,952 33,157 (5,883) 1988/2016 08/17/17 40 Lebanon, OR 100% — 958 14,176 15,134 — 958 14,176 15,134 (2,427) 1974 08/17/17 40 Portland, OR 100% — 1,791 12,833 14,624 2,761 1,791 15,594 17,385 (3,466) 1964/2016 08/17/17 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Tigard, OR 100% — 2,011 11,667 13,678 — 2,011 11,667 13,678 (2,064) 1975 08/17/17 40 Hillsboro, OR 100% — 1,387 14,028 15,415 — 1,387 14,028 15,415 (2,399) 1973 08/17/17 40 Junction City, OR 100% — 584 7,901 8,485 — 584 7,901 8,485 (1,403) 1966/2015 08/17/17 40 Eugene, OR 100% — 1,380 14,921 16,301 1,791 1,380 16,712 18,092 (3,421) 1966/2016 08/17/17 40 Coos Bay, OR 100% — 829 8,518 9,347 — 829 8,518 9,347 (1,569) 1968 08/17/17 40 Gladstone, OR 100% — 792 5,000 5,792 — 792 5,000 5,792 (907) 1961 08/17/17 40 Newport, OR 100% — 406 5,001 5,407 — 406 5,001 5,407 (866) 1973/2014 08/17/17 40 Oregon City, OR 100% — 1,496 12,142 13,638 — 1,496 12,142 13,638 (2,076) 1974 08/17/17 40 Tacoma, WA 100% — 1,771 11,595 13,366 15 1,771 11,610 13,381 (2,313) 2017 08/17/17 40 Shoreline, WA 100% — 4,703 14,444 19,147 — 4,703 14,444 19,147 (2,559) 1993/2014 08/17/17 40 Bellingham, WA 100% — — 15,330 15,330 — — 15,330 15,330 (2,740) 1984/2015 08/17/17 40 Sequim, WA 100% — 427 4,450 4,877 — 427 4,450 4,877 (954) 1974 08/17/17 40 Tacoma, WA 100% — 1,705 4,952 6,657 — 1,705 4,952 6,657 (925) 1968 08/17/17 40 Tacoma, WA 100% — 2,195 1,956 4,151 — 2,195 1,956 4,151 (484) 1972/2014 08/17/17 40 Vancouver, WA 100% — 1,782 15,116 16,898 — 1,782 15,116 16,898 (2,798) 1991 08/17/17 40 Lake Oswego, OR 100% — 5,947 13,401 19,348 — 5,947 13,401 19,348 (2,395) 2005/2016 08/17/17 40 Medford, OR 100% — 2,043 38,485 40,528 2,960 2,043 41,445 43,488 (7,773) 1974/2016 08/17/17 40 Seattle, WA 100% — 2,508 6,401 8,909 — 2,508 6,401 8,909 (1,158) 1970 08/17/17 40 Boise, ID 100% — 681 9,348 10,029 627 681 9,975 10,656 (1,774) 1979 08/17/17 40 Salem, OR 100% — 2,114 15,651 17,765 — 2,114 15,651 17,765 (2,758) 1981 08/17/17 40 Medford, OR 100% — 1,375 23,808 25,183 — 1,375 23,808 25,183 (4,231) 1961/2016 08/17/17 40 Northglenn, CO 100% — 1,662 26,014 27,676 3,258 1,662 29,272 30,934 (5,916) 1972/2016 08/17/17 40 Brighton, CO 100% — 1,933 11,624 13,557 200 1,933 11,824 13,757 (2,166) 1971 08/17/17 40 Santa Ana, CA 100% — 1,889 11,682 13,571 — 1,889 11,682 13,571 (1,947) 2008 08/17/17 40 La Mesa, CA 100% — 1,276 8,177 9,453 — 1,276 8,177 9,453 (1,416) 2012 08/17/17 40 Westminster, MD 100% — 2,128 6,614 8,742 487 2,128 6,978 9,106 (1,618) 1973/2010, 2019 08/17/17 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Kansas City, MO 100% — 1,985 2,714 4,699 303 1,714 — 1,714 — 1983 08/17/17 40 Parkersburg, WV 100% — 697 10,688 11,385 285 697 10,911 11,608 (2,428) 1974/1999, 2019 08/17/17 40 Cincinnati, OH 100% — 2,686 10,062 12,748 295 2,686 10,357 13,043 (2,058) 1989/2015 08/17/17 40 Charlottesville, VA 100% — 2,840 8,450 11,290 1,176 2,840 9,523 12,363 (2,334) 1964/2009, 2019 08/17/17 40 Annandale, VA 100% — 7,241 17,727 24,968 3,218 7,241 20,864 28,105 (4,579) 1963/2013, 2019 08/17/17 40 Petersburg, VA 100% — 988 8,416 9,404 146 988 8,478 9,466 (1,672) 1970/2009 08/17/17 40 Petersburg, VA 100% — 1,174 8,858 10,032 151 1,174 8,942 10,116 (1,749) 1976/2010 08/17/17 40 Hagerstown, MD 100% — 1,393 13,438 14,831 150 1,393 13,477 14,870 (2,501) 1971/2010 08/17/17 40 Cumberland, MD 100% — 800 16,973 17,773 457 800 17,305 18,105 (3,237) 1968 08/17/17 40 Gilroy, CA 100% — 662 23,775 24,437 — 662 23,775 24,437 (4,022) 1968/2021 08/17/17 40 Mount Pleasant, SC 100% — 2,689 3,942 6,631 205 2,689 4,147 6,836 (831) 1977/2015 08/17/17 40 Harrogate, TN 100% — 1,811 4,963 6,774 — 1,811 4,963 6,774 (1,054) 1990/2005 08/17/17 40 Conway, SC 100% — 1,408 10,784 12,192 295 1,408 11,079 12,487 (2,075) 1975 08/17/17 40 Baytown, TX 100% — 426 3,236 3,662 173 426 3,251 3,677 (683) 1975/2019 08/17/17 40 Huntsville, TX 100% — 302 3,153 3,455 75 302 3,168 3,470 (644) 1968/2019 08/17/17 40 Center, TX 100% — 231 1,335 1,566 312 231 1,477 1,708 (398) 1972/2019 08/17/17 40 Humble, TX 100% — 2,114 1,643 3,757 596 2,114 1,953 4,067 (571) 1972/2019 08/17/17 40 Houston, TX 100% — 1,019 5,734 6,753 318 1,019 5,807 6,826 (1,124) 1982/2019 08/17/17 40 Linden, TX 100% — 112 256 368 133 112 280 392 (98) 1968/2019 08/17/17 40 Sherman, TX 100% — 469 6,310 6,779 255 469 6,338 6,807 (1,188) 1971/2019 08/17/17 40 Mount Pleasant, TX 100% — 250 6,913 7,163 345 250 7,160 7,410 (1,372) 1970/2019 08/17/17 40 Waxahachie, TX 100% — 416 7,259 7,675 976 416 8,106 8,522 (1,618) 1976/2019 08/17/17 40 Gilmer, TX 100% — 707 4,552 5,259 93 707 4,562 5,269 (910) 1990/2019 08/17/17 40 Sparks, NV 100% — 1,986 9,004 10,990 — 1,986 9,004 10,990 (1,714) 1988 08/17/17 40 Richmond, IN 100% — 259 9,819 10,078 131 259 9,950 10,209 (1,856) 1975/2005 08/17/17 40 Petersburg, IN 100% — 581 5,367 5,948 23 581 5,390 5,971 (1,054) 1970/2009 08/17/17 40 Maryville, MO 100% — 114 5,955 6,069 — 150 5,955 6,105 (1,187) 1972 08/17/17 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Ashland, MO 100% — 765 2,669 3,434 — 229 628 857 — 1993 08/17/17 40 St. Louis, MO 100% — 2,071 5,739 7,810 — 375 818 1,193 — 1988/1991 08/17/17 40 Doniphan, MO 100% — 657 8,251 8,908 — 657 8,251 8,908 (1,551) 1991 08/17/17 40 Dixon, MO 100% — 521 3,358 3,879 — 521 3,358 3,879 (684) 1989/2011 08/17/17 40 Forsyth, MO 100% — 594 8,549 9,143 — 594 8,549 9,143 (1,631) 1993/2007 08/17/17 40 Seymour, MO 100% — 658 901 1,559 — 658 901 1,559 (240) 1990 08/17/17 40 Silex, MO 100% — 807 4,990 5,797 — 807 4,990 5,797 (965) 1991 08/17/17 40 Columbia, MO 100% — 2,322 6,547 8,869 — 2,322 6,547 8,869 (1,287) 1994 08/17/17 40 Strafford, MO 100% — 1,634 6,518 8,152 — 1,634 6,518 8,152 (1,253) 1995 08/17/17 40 Windsor, MO 100% — 471 6,819 7,290 — 471 6,819 7,290 (1,188) 1996 08/17/17 40 Conroe, TX 100% — 1,222 19,099 20,321 — 1,222 19,099 20,321 (3,251) 2001 08/17/17 40 Houston, TX 100% — 1,334 11,615 12,949 — 1,334 11,615 12,949 (2,060) 2003/2013 08/17/17 40 Humble, TX 100% — 1,541 12,332 13,873 645 1,541 12,977 14,518 (2,611) 2003/2019 08/17/17 40 Missouri City, TX 100% — 1,825 9,681 11,506 — 1,825 9,681 11,506 (1,784) 2005 08/17/17 40 Houston, TX 100% — 2,676 7,396 10,072 — 2,676 7,396 10,072 (1,394) 2005 08/17/17 40 Houston, TX 100% — 1,732 12,921 14,653 — 1,732 12,921 14,653 (2,274) 1999 08/17/17 40 Topeka, KS 100% — 176 2,340 2,516 — 176 2,340 2,516 (474) 1973/2013 08/17/17 40 Salina, KS 100% — 301 4,201 4,502 — 301 4,201 4,502 (814) 1981 08/17/17 40 Terre Haute, IN 100% — 1,067 7,061 8,128 — 1,067 7,061 8,128 (1,286) 1965/1984 08/17/17 40 Gas City, IN 100% — 345 8,852 9,197 — 345 8,852 9,197 (1,536) 1974/2022 08/17/17 40 Winchester, IN 100% — 711 5,554 6,265 — 711 5,554 6,265 (1,016) 1986/1998, 2021 08/17/17 40 Columbus, IN 100% — 1,290 10,714 12,004 — 1,290 10,714 12,004 (1,868) 1988/2004, 2022 08/17/17 40 Portland, IN 100% — 315 9,848 10,163 — 315 9,848 10,163 (1,743) 1964/2022 08/17/17 40 Clinton, IN 100% — 884 9,839 10,723 — 884 9,839 10,723 (1,829) 1971/2021 08/17/17 40 Las Vegas, NV 100% — 509 18,216 18,725 — 509 18,216 18,725 (3,036) 1964 08/17/17 40 Las Vegas, NV 100% — 3,169 7,863 11,032 — 3,169 7,863 11,032 (1,477) 1972/1997 08/17/17 40 Alameda, CA 100% — 3,078 22,328 25,406 — 3,078 22,328 25,406 (3,806) 1967/2021 08/17/17 40 Dover, NH 100% — 522 5,839 6,361 — 522 5,839 6,361 (1,385) 1969/1992, 2017 08/17/17 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Augusta, ME 100% — 135 6,470 6,605 — 135 6,470 6,605 (1,206) 1967 08/17/17 40 Bangor, ME 100% — 302 1,811 2,113 2,211 302 4,021 4,323 (1,019) 1967/1993, 2019 08/17/17 40 Bath, ME 100% — 250 1,934 2,184 — 250 1,934 2,184 (402) 1974 08/17/17 40 Brewer, ME 100% — 177 14,497 14,674 2,520 177 17,017 17,194 (3,371) 1974/1990, 2019 08/17/17 40 Kennebunk, ME 100% — 198 6,822 7,020 2,005 198 8,827 9,025 (1,634) 1977/2022 08/17/17 40 Norway, ME 100% — 791 3,680 4,471 — 791 3,680 4,471 (729) 1976 08/17/17 40 Yarmouth, ME 100% — 134 2,072 2,206 — 134 2,072 2,206 (442) 1952 08/17/17 40 Marlborough, MA 100% — 942 1,541 2,483 8,727 942 10,268 11,210 (3,468) 1973/2018 08/17/17 40 Bangor, ME 100% — 229 7,171 7,400 511 229 7,682 7,911 (1,446) 1969/1993, 2022 08/17/17 40 Orange, CA 100% — 4,163 14,755 18,918 — 4,163 14,755 18,918 (2,640) 1987/2020 08/17/17 40 Lancaster, TX 100% — 548 5,794 6,342 — 548 5,794 6,342 (1,140) 2008 08/17/17 40 Garland, TX 100% — 1,118 7,490 8,608 — 1,118 7,490 8,608 (1,403) 2008 08/17/17 40 Clarksville, TX 100% — 279 4,269 4,548 100 279 4,369 4,648 (970) 1989/2019 08/17/17 40 McKinney, TX 100% — 1,272 6,047 7,319 — 1,272 6,047 7,319 (1,217) 2006 08/17/17 40 Hopkins, MN 100% — 807 4,668 5,475 530 807 5,198 6,005 (1,418) 1961/2008, 2019 08/17/17 40 Florence, WI 100% — 291 3,778 4,069 — 291 3,778 4,069 (795) 1970 08/17/17 40 St. Francis, WI 100% — 166 1,887 2,053 — 166 1,887 2,053 (412) 1960/1997 08/17/17 40 Rochester, MN 100% — 645 7,067 7,712 178 645 7,245 7,890 (1,442) 1967/2011, 2019 08/17/17 40 Wisconsin Dells, WI 100% — 1,640 1,599 3,239 — 1,640 1,599 3,239 (453) 1972/2006 08/17/17 40 Sheboygan, WI 100% — 1,038 2,839 3,877 — 1,038 2,839 3,877 (681) 1967/2012 08/17/17 40 Hendersonville, NC 100% — 1,611 3,503 5,114 — 1,611 3,503 5,114 (774) 1979 08/17/17 40 Baytown, TX 100% — 579 22,317 22,896 103 579 22,419 22,998 (3,865) 2000/2013 08/17/17 40 Baytown, TX 100% — 589 20,475 21,064 362 589 20,837 21,426 (3,830) 2008 08/17/17 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Houston, TX 100% — 1,300 13,353 14,653 31 1,300 13,384 14,684 (2,475) 2006 08/17/17 40 Pasadena, TX 100% — 1,148 23,579 24,727 47 1,148 23,626 24,774 (4,142) 2004 08/17/17 40 Webster, TX 100% — 904 10,315 11,219 24 904 10,338 11,242 (1,958) 2000/2009 08/17/17 40 Beaumont, TX 100% — 945 20,424 21,369 272 945 20,696 21,641 (3,634) 2009 08/17/17 40 Orange, TX 100% — 711 10,737 11,448 186 711 10,923 11,634 (2,014) 2006 08/17/17 40 Huntsville, AL 100% — 634 28,071 28,705 19 634 28,089 28,723 (4,713) 1968/2012 08/17/17 40 Terre Haute, IN 100% — 644 37,451 38,095 59 644 37,511 38,155 (7,069) 1996/2013 08/17/17 40 Madison, TN 100% — 902 3,850 4,752 23 902 3,873 4,775 (886) 1969/2016 08/17/17 40 Savannah, GA 100% — 1,235 3,765 5,000 18 1,235 3,783 5,018 (908) 1970/2015 08/17/17 40 Bowling Green, KY 100% — 280 13,975 14,255 32 280 14,007 14,287 (2,597) 1970/2015 08/17/17 40 Calvert City, KY 100% — 1,176 7,012 8,188 25 1,176 7,037 8,213 (1,385) 1962/2015 08/17/17 40 Winchester, KY 100% — 554 13,207 13,761 43 554 13,250 13,804 (2,507) 1967/2015 08/17/17 40 Calhoun, KY 100% — 613 7,643 8,256 30 613 7,673 8,286 (1,551) 1963/2015 08/17/17 40 Bremen, IN 100% — 173 7,393 7,566 38 173 7,431 7,604 (1,373) 1982/2015 08/17/17 40 Muncie, IN 100% — 374 27,429 27,803 38 374 27,467 27,841 (4,710) 1980/2013 08/17/17 40 Lebanon, IN 100% — 612 11,755 12,367 39 612 11,794 12,406 (2,141) 1977/2012 08/17/17 40 Marietta, GA 100% — 364 16,116 16,480 20 364 16,137 16,501 (3,004) 1969/2015 08/17/17 40 Danville, KY 100% — 790 9,356 10,146 32 790 9,388 10,178 (2,048) 1962/2015 08/17/17 40 Owensboro, KY 100% — 1,048 22,587 23,635 40 1,048 22,627 23,675 (4,031) 1963/2011 08/17/17 40 Memphis, TN 100% — 1,633 9,371 11,004 21 1,633 9,392 11,025 (1,832) 1981/2015 08/17/17 40 Norfolk, VA 100% — 705 16,451 17,156 33 705 16,485 17,190 (3,322) 1969/2015 08/17/17 40 Harrodsburg, KY 100% — 1,049 9,851 10,900 21 1,049 9,872 10,921 (2,050) 1975/2016 08/17/17 40 Cookeville, TN 100% — 1,034 15,555 16,589 32 1,034 15,586 16,620 (2,841) 1979/2016 08/17/17 40 Washington Court House, OH 100% — 405 4,839 5,244 20 405 4,859 5,264 (1,049) 1984/2015 08/17/17 40 Galion, OH 100% — 836 668 1,504 14 836 683 1,519 (237) 1967/1985 08/17/17 40 Roanoke Rapids, NC 100% — 373 10,308 10,681 25 373 10,334 10,707 (2,070) 1967/2015 08/17/17 40 Kinston, NC 100% — 954 7,987 8,941 73 954 8,059 9,013 (1,807) 1960/2015 08/17/17 40 Chapel Hill, NC 100% — 809 2,703 3,512 1,191 809 3,893 4,702 (964) 1984/2015 08/17/17 40 Chillicothe, OH 100% — 260 8,924 9,184 19 260 8,943 9,203 (1,850) 1974/2015 08/17/17 40 Coshocton, OH 100% — 374 2,530 2,904 37 374 2,567 2,941 (715) 1974/2015 08/17/17 40 Pine Knot, KY 100% — 208 7,665 7,873 23 208 7,689 7,897 (1,447) 1990 08/17/17 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Bardstown, KY 100% — 634 4,094 4,728 16 634 4,110 4,744 (903) 1968/2010 08/17/17 40 Glasgow, KY 100% — 83 2,057 2,140 28 83 2,086 2,169 (552) 1968 08/17/17 40 Carrollton, KY 100% — 124 1,693 1,817 21 124 1,714 1,838 (476) 1978/2016 08/17/17 40 Horse Cave, KY 100% — 208 7,070 7,278 38 208 7,108 7,316 (1,460) 1993 08/17/17 40 Lawrenceburg, KY 100% — 635 9,861 10,496 17 635 9,879 10,514 (1,887) 1973 08/17/17 40 Annville, KY 100% — 479 6,078 6,557 17 479 6,095 6,574 (1,140) 1989 08/17/17 40 Louisville, KY 100% — 3,528 4,653 8,181 24 3,528 4,677 8,205 (1,095) 1982/2012 08/17/17 40 Louisville, KY 100% — 2,207 20,733 22,940 29 2,207 20,761 22,968 (3,667) 1991/2010 08/17/17 40 Tompkinsville, KY 100% — 333 9,556 9,889 26 333 9,582 9,915 (1,809) 1969 08/17/17 40 Radcliff, KY 100% — 1,815 7,470 9,285 34 1,815 7,504 9,319 (1,793) 1986 08/17/17 40 Hartford, KY 100% — 312 8,189 8,501 21 312 8,210 8,522 (1,583) 1967 08/17/17 40 Louisville, KY 100% — 427 6,003 6,430 21 427 6,023 6,450 (1,237) 1975/2005 08/17/17 40 Louisville, KY 100% — 1,134 9,166 10,300 28 1,134 9,194 10,328 (1,938) 1979/2013 08/17/17 40 Lexington, KY 100% — 2,558 4,311 6,869 51 2,558 4,361 6,919 (998) 1989 08/17/17 40 Columbia, KY 100% — 114 11,141 11,255 28 114 11,169 11,283 (2,063) 1965 08/17/17 40 Monticello, AR 100% — 206 3,179 3,385 — 206 3,179 3,385 (704) 1995 08/17/17 40 Benton, AR 100% — 1,336 7,386 8,722 — 1,336 7,386 8,722 (1,493) 1992 08/17/17 40 Wynne, AR 100% — 227 4,007 4,234 — 227 4,007 4,234 (818) 1990 08/17/17 40 Morrilton, AR 100% — 412 2,642 3,054 3,038 467 5,680 6,147 (936) 1996/2022 08/17/17 40 Bryant, AR 100% — 819 8,938 9,757 — 819 8,938 9,757 (1,609) 1989/2015 08/17/17 40 Savannah, GA 100% — 2,194 11,711 13,905 — 2,194 11,711 13,905 (2,080) 1972 08/17/17 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Durham, NC 100% — 470 9,633 10,103 — 470 9,633 10,103 (1,695) 1968/2006 08/17/17 40 Raleigh, NC 100% — 1,155 11,749 12,904 — 1,155 11,749 12,904 (2,117) 1971 08/17/17 40 Raleigh, NC 100% — 926 17,649 18,575 — 926 17,649 18,575 (3,125) 1967/2007 08/17/17 40 Wilmington, NC 100% — 611 5,051 5,662 — 611 5,051 5,662 (1,015) 1966/2013 08/17/17 40 Winston-Salem, NC 100% — 879 3,283 4,162 — 879 3,283 4,162 (753) 1965 08/17/17 40 Lincolnton, NC 100% — — 9,967 9,967 — — 9,967 9,967 (1,803) 1976 08/17/17 40 Monroe, NC 100% — 166 5,906 6,072 — 166 5,906 6,072 (1,189) 1963/2005 08/17/17 40 Zebulon, NC 100% — 594 8,559 9,153 — 594 8,559 9,153 (1,486) 1973/2010 08/17/17 40 Rocky Mount, NC 100% — — 18,314 18,314 — — 18,314 18,314 (3,123) 1975 08/17/17 40 DeSoto, TX 100% — 942 6,033 6,975 320 942 6,353 7,295 (1,236) 1987 08/17/17 40 Trinity, TX 100% — 363 3,852 4,215 — 363 3,852 4,215 (822) 1985/2019 08/17/17 40 Kirbyville, TX 100% — 208 5,809 6,017 — 208 5,809 6,017 (1,186) 1987 08/17/17 40 Marshall, TX 100% — 732 4,288 5,020 — 732 4,288 5,020 (901) 2008 08/17/17 40 Warren, MI 100% — 2,052 25,539 27,591 — 2,052 25,539 27,591 (5,009) 1961/2001 08/17/17 40 Hamburg, NY 100% — 1,026 54,086 55,112 — 1,026 54,086 55,112 (9,273) 1983/2014 08/17/17 40 East Patchogue, NY 100% — 2,181 30,373 32,554 — 2,181 30,373 32,554 (5,478) 1988/2011 08/17/17 40 Williamsville, NY 100% — 1,122 46,413 47,535 — 1,122 46,413 47,535 (7,814) 1992/2007 08/17/17 40 Cheektowaga, NY 100% — 1,164 29,905 31,069 — 1,164 29,905 31,069 (5,335) 1979/2006 08/17/17 40 North Tonawanda, NY 100% — 830 29,488 30,318 — 830 29,488 30,318 (5,259) 1982/2007 08/17/17 40 West Seneca, NY 100% — 1,325 26,839 28,164 — 1,325 26,839 28,164 (4,698) 1974/2008 08/17/17 40 Beverly, MA 100% — 2,410 13,588 15,998 — 2,410 13,588 15,998 (3,199) 1965/2015 08/17/17 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Lancaster, MA 100% — 343 7,733 8,076 — 343 7,733 8,076 (1,407) 1970/2005 08/17/17 40 New London, CT 100% — 505 2,248 2,753 48 505 2,296 2,801 (712) 1967/2016 08/17/17 40 Enfield, CT 100% — 437 16,461 16,898 231 437 16,693 17,130 (3,085) 1968/2015 08/17/17 40 Quincy, MA 100% — 894 904 1,798 129 894 1,033 1,927 (335) 1965/2003 08/17/17 40 Fishkill, NY 100% — 964 30,107 31,071 421 964 30,518 31,482 (5,495) 1995 08/17/17 40 Highland, NY 100% — 4,371 11,473 15,844 260 4,371 11,733 16,104 (2,252) 1998 08/17/17 40 Beacon, NY 100% — — 25,400 25,400 267 — 25,666 25,666 (4,802) 2002 08/17/17 40 Springfield, MA 100% — 817 11,357 12,174 386 817 11,743 12,560 (2,094) 1987 08/17/17 40 Andover, MA 100% — 2,123 5,383 7,506 18 2,123 5,401 7,524 (1,131) 1992 08/17/17 40 Reading, MA 100% — 1,534 5,221 6,755 540 1,534 5,760 7,294 (1,216) 1988 08/17/17 40 Sudbury, MA 100% — 2,017 3,458 5,475 421 2,017 3,879 5,896 (922) 1997/2021 08/17/17 40 Lowell, MA 100% — 1,335 9,019 10,354 489 1,335 9,508 10,843 (1,847) 1966/2007 08/17/17 40 Worcester, MA 100% — 945 8,770 9,715 50 945 8,820 9,765 (1,693) 1970/1988 08/17/17 40 W. Springfield, MA 100% — 2,022 7,345 9,367 — 2,022 7,345 9,367 (1,556) 1960/1985 08/17/17 40 East Longmeadow, MA 100% — 2,968 8,957 11,925 790 2,968 9,748 12,716 (2,055) 1985/2005 08/17/17 40 Long Beach, CA 100% — 2,939 11,782 14,721 — 2,939 11,690 14,629 (2,246) 1968/2011 09/19/17 40 Anaheim, CA 100% — 2,044 14,167 16,211 — 2,044 14,167 16,211 (2,643) 1968/2011 09/19/17 40 Fairfield, CA 100% — 586 23,582 24,168 — 586 23,582 24,168 (4,095) 1966/2006 09/19/17 40 Baldwin Park, CA 100% — 2,270 17,063 19,333 — 2,270 17,063 19,333 (3,126) 1970/2015 09/19/17 40 Grand Terrace, CA 100% — 432 9,382 9,814 — 432 9,382 9,814 (1,732) 1945/2017 09/19/17 40 Pacifica, CA 100% — 1,510 27,397 28,907 — 1,510 27,397 28,907 (4,692) 1975 09/19/17 40 Burien, WA 100% — 823 17,431 18,254 — 826 17,431 18,257 (3,145) 1965/2014 09/19/17 40 Seattle, WA 100% — 4,802 7,927 12,729 — 4,802 7,927 12,729 (1,604) 1963/2016 09/19/17 40 Huntington Bch, CA 100% — 2,312 9,885 12,197 — 2,312 9,885 12,197 (1,817) 1965/2010 09/19/17 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Chatsworth, CA 100% — 7,841 16,916 24,757 — 7,841 16,916 24,757 (3,239) 1976 09/19/17 40 Woodland, CA 100% — 504 7,369 7,873 — 504 7,369 7,873 (1,425) 1975/2010 09/19/17 40 Danville, CA 100% — 1,491 17,157 18,648 — 1,491 17,157 18,648 (3,074) 1965 09/19/17 40 Van Nuys, CA 100% — 2,456 16,462 18,918 — 2,456 16,462 18,918 (2,841) 1958/2015 09/19/17 40 Lomita, CA 100% — 2,743 14,734 17,477 — 2,743 14,734 17,477 (2,763) 1969 09/19/17 40 Sacramento, CA 100% — 2,846 17,962 20,808 — 2,846 17,962 20,808 (3,178) 1972 09/19/17 40 Issaquah, WA 100% — 10,125 7,771 17,896 — 10,125 7,771 17,896 (1,653) 1975/2012 09/19/17 40 Long Beach, CA 100% — 3,157 22,067 25,224 — 3,157 22,067 25,224 (4,001) 1966/2014 09/19/17 40 Long Beach, CA 100% — 2,857 5,878 8,735 — 2,857 5,878 8,735 (1,150) 1952/2013 09/19/17 40 Lodi, CA 100% — 812 21,059 21,871 — 812 21,059 21,871 (3,553) 1965 09/19/17 40 Riverside, CA 100% — 1,717 13,806 15,523 — 1,717 13,806 15,523 (2,725) 1966 09/19/17 40 Woodland, CA 100% — 278 16,729 17,007 — 278 16,729 17,007 (2,990) 1930/2007 09/19/17 40 Bee Cave, TX 100% — 2,107 10,413 12,520 — 2,107 10,413 12,520 (2,147) 2014 12/15/17 40 El Monte, CA 100% — 2,058 19,671 21,729 — 2,058 19,671 21,729 (3,401) 1965 01/10/18 40 Shoreline, WA 100% — 8,861 11,478 20,339 103 8,861 11,580 20,441 (2,368) 1964/2012 01/19/18 40 Elizabethtown, KY 100% — 729 — 729 19,329 729 19,329 20,058 (479) 2021 05/27/21 40 Crown Point, IN 100% — 1,522 14,951 16,473 — 1,522 14,951 16,473 (78) 2015 11/01/23 40 Dyer, IN 100% — 1,859 19,547 21,406 — 1,859 19,547 21,406 (100) 2015 11/01/23 40 24,051 328,000 2,663,453 2,991,453 91,777 325,583 2,725,278 3,050,861 (535,653) Senior Housing - Leased Exeter, NH 100% 1,880 571 7,183 7,754 — 571 5,912 6,483 (2,771) 1987 11/15/10 43 Nashua, NH 100% 4,457 — 5,654 5,654 — — 4,566 4,566 (1,949) 1989 11/15/10 40 Keene, NH 100% 3,237 304 3,992 4,296 — 304 3,263 3,567 (1,650) 1995 11/15/10 46 Dover, NH 100% 2,335 801 10,036 10,837 — 801 8,584 9,385 (4,002) 1987/2009, 2019 11/15/10 42 Green Bay, WI 100% — 256 2,262 2,518 1,032 256 1,976 2,232 (767) 2004/2011 11/22/11 40 Rockport, TX 100% — 789 607 1,396 — 789 475 1,264 (183) 1996/2018 11/30/12 40 Cadillac, MI 100% — 217 3,000 3,217 — 217 2,920 3,137 (910) 2001/2006, 2023 12/14/12 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Greenville, MI 100% — 684 5,832 6,516 249 684 5,841 6,525 (1,876) 1999/2001, 2012, 2013, 2018 12/14/12 40 Manistee, MI 100% — 952 2,578 3,530 2,547 952 5,076 6,028 (1,970) 2002/2017 12/14/12 40 Mason, MI 100% — 198 4,131 4,329 — 198 4,032 4,230 (1,323) 2009/2012 12/14/12 40 Alpena, MI 100% — 546 13,139 13,685 — 546 13,000 13,546 (3,763) 2006/2008, 2010 12/14/12 40 Fremont, NE 100% — 504 17,670 18,174 — 504 17,670 18,174 (5,020) 1989/2002 02/14/14 40 Norfolk, NE 100% — 217 9,906 10,123 4,680 217 14,586 14,803 (4,284) 1989/1991, 1994, 2018, 2019 02/14/14 40 Fort Wayne, IN 100% 12,183 2,300 21,115 23,415 2,747 2,300 23,846 26,146 (7,799) 2011/2016, 2018 04/30/14 40 Brandon, FL 100% — 1,283 8,424 9,707 483 1,283 8,722 10,005 (2,532) 1999/2016 10/01/14 40 Lecanto, FL 100% — 1,031 5,577 6,608 615 1,023 6,053 7,076 (2,026) 1997/2016 10/01/14 40 Zephyrhills, FL 100% — 1,688 9,098 10,786 360 1,688 9,343 11,031 (2,924) 2008/2016 10/01/14 40 Sun City West, AZ 100% — 930 9,170 10,100 248 930 9,418 10,348 (2,188) 2012 07/01/16 40 Fredericksburg, VA 100% — 1,379 21,209 22,588 — 1,379 21,209 22,588 (4,644) 2016 07/14/16 40 Round Rock, TX 100% — 679 13,642 14,321 — 679 13,642 14,321 (3,035) 2016 08/01/16 40 Santa Fe, NM 100% — 1,866 19,441 21,307 — 2,157 21,736 23,893 (4,587) 2006 09/23/16 40 Santa Fe, NM 100% — 670 7,743 8,413 430 670 8,571 9,241 (810) 2020 09/23/16 40 Franklin, NH 100% — 292 6,889 7,181 211 292 7,110 7,402 (1,700) 1988 11/30/16 40 Henderson, NV 100% — 1,430 21,850 23,280 — 1,430 21,862 23,292 (4,411) 2016 12/01/16 40 Brenham, TX 100% — 476 11,912 12,388 — 476 11,922 12,398 (2,753) 1991 12/02/16 40 Cedar Park, TX 100% — 1,035 13,127 14,162 — 1,035 13,127 14,162 (2,546) 2017 06/01/17 40 Keizer, OR 100% — 1,220 31,783 33,003 — 1,220 31,783 33,003 (5,435) 1970/2021 08/17/17 40 Lawrence, KS 100% — 584 4,431 5,015 — 584 4,431 5,015 (849) 1995/2014 08/17/17 40 Salina, KS 100% — 584 3,020 3,604 — 584 3,020 3,604 (575) 1989/2014 08/17/17 40 Topeka, KS 100% — 313 5,492 5,805 — 313 5,492 5,805 (967) 1986/2014 08/17/17 40 Lafayette, CO 100% — 1,085 19,243 20,328 9 1,883 19,205 21,088 (3,382) 2016 12/15/17 40 Winnebago, IL 100% — 263 3,743 4,006 — 263 3,743 4,006 (707) 2007 01/31/18 40 Pewaukee, WI 100% — 1,019 3,606 4,625 — 1,019 3,606 4,625 (635) 2010 04/16/18 40 Pewaukee, WI 100% — 661 5,680 6,341 — 661 5,680 6,341 (923) 2015 04/16/18 40 Sarasota, FL 100% — 1,440 22,541 23,981 — 1,440 22,541 23,981 (3,495) 2018 05/18/18 40 Knoxville, TN 100% — 1,603 9,219 10,822 — 1,603 9,219 10,822 (1,651) 2017 08/31/18 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Shavano Park, TX 100% — 2,131 11,541 13,672 — 2,131 11,541 13,672 (1,890) 2015 08/31/18 40 Beavercreek, OH 100% — 1,622 24,215 25,837 7,561 1,622 31,773 33,395 (5,805) 2016 11/01/18 40 McCordsville, IN 100% — 1,587 31,315 32,902 — 1,587 31,315 32,902 (3,487) 2017 01/07/20 40 Louisville, KY 100% — 1,841 21,827 23,668 — 1,841 21,827 23,668 (2,359) 2015 01/31/20 40 Sellersburg, IN 100% — 1,060 28,702 29,762 5,504 1,060 34,206 35,266 (3,336) 2015 04/01/20 40 Jasper, IN 100% — 657 25,226 25,883 — 657 25,226 25,883 (1,614) 2019 10/01/21 40 Norman, OK 100% — 557 2,663 3,220 1,135 557 3,798 4,355 (68) 1999 02/01/23 40 24,092 39,325 509,434 548,759 27,811 40,406 532,868 573,274 (109,601) Senior Housing - Managed Frankenmuth, MI 100% — 5,027 20,929 25,956 637 5,027 21,170 26,197 (6,342) 1982/2008 09/21/12 40 Gaylord, MI 100% — 2,024 5,467 7,491 141 2,024 5,583 7,607 (2,060) 2002 12/14/12 40 East Tawas, MI 100% — 258 3,713 3,971 399 258 3,984 4,242 (1,551) 2005 12/14/12 40 Marshfield, WI 100% — 574 8,733 9,307 220 574 8,803 9,377 (2,623) 2010 12/18/12 40 Woodstock, VA 100% — 597 5,465 6,062 117 597 5,448 6,045 (1,538) 1996/2015 06/28/13 40 Allen, TX 100% — 2,190 45,767 47,957 948 2,190 50,510 52,700 (12,723) 2004/2010 09/25/14 40 Gainesville, FL 100% — 2,139 44,789 46,928 1,562 2,139 49,736 51,875 (13,797) 1986/2013, 2015, 2019 09/25/14 40 McKinney, TX 100% — 2,760 44,397 47,157 1,497 2,760 49,615 52,375 (12,854) 2006/2010, 2019 09/25/14 40 Raleigh, NC 100% — 2,344 37,506 39,850 1,749 2,344 43,072 45,416 (10,650) 2002/2014, 2022 09/25/14 40 San Luis Obispo, CA 100% — 4,992 30,909 35,901 1,117 4,992 35,062 40,054 (9,094) 1987/2006, 2015, 2021 09/25/14 40 Winston-Salem, NC 100% — 2,995 24,428 27,423 676 2,995 26,841 29,836 (7,132) 2001 09/25/14 40 Longview, TX 100% — 805 26,498 27,303 824 805 27,972 28,777 (7,930) 1985/2010 09/25/14 40 Kansas City, MO 100% — 1,325 20,510 21,835 923 1,325 25,844 27,169 (6,657) 1983 09/25/14 40 Yuma, AZ 100% — 530 21,775 22,305 484 530 22,678 23,208 (6,226) 1996/2014 09/25/14 40 Nashville, TN 100% — 1,996 19,368 21,364 1,227 1,996 21,607 23,603 (6,530) 1986/2000 09/25/14 40 Branford, CT 100% — 2,403 18,821 21,224 732 2,403 22,939 25,342 (5,668) 1987 09/25/14 40 Richmond, VA 100% — 1,080 19,545 20,625 1,602 1,080 23,606 24,686 (6,296) 1989/2007, 2022 09/25/14 40 Auburn, AL 100% — 3,209 17,326 20,535 516 3,209 18,482 21,691 (5,259) 2001 09/25/14 40 Menomonee Falls, WI 100% — 1,477 18,778 20,255 426 1,477 20,272 21,749 (5,690) 2005/2006, 2007/2011, 2019 09/25/14 40 Glenville, NY 100% — 978 18,257 19,235 571 978 19,711 20,689 (5,564) 2001/2014 09/25/14 40 Eustis, FL 100% — 1,152 17,523 18,675 606 1,152 18,811 19,963 (5,669) 1984/1988, 2013 09/25/14 40 Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount at which Carried at Close of Period Life on Which Depreciation in Latest Income Statement is Computed Description Ownership Percentage Encum- brances (1) Land Building and Improve- ments (2)(3) Total Land Building and Improve- ments (2)(3) Total Accumulated Depreciation and Amortization Original Date of Construction/ Renovation Date Acquired Phoenix, AZ 100% — 2,567 12,029 14,596 983 2,567 13,881 16,448 (4,425) 1986 09/25/14 40 Jonesboro, AR 100% — 1,782 11,244

SCHEDULE IV - MORTGAGE LOANS ON

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE	12 Months Ended
SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE	Dec. 31, 2023
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]
SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE	SCHEDULE IV MORTGAGE LOANS ON REAL ESTATE As of December 31, 2023 (dollars in thousands) Description Contractual Interest Rate Maturity Date Periodic Payment Terms Prior Liens Principal Balance Book Value (1) Principal Amount of Loans Subject to Delinquent Principal or Interest Mortgages: River Vista 10.0 % 2027 (2) $ — $ 19,000 $ 19,000 N/A Recovery Centers of America 7.5 2026 (2) — 300,000 300,000 N/A $ — $ 319,000 $ 319,000 (1) The aggregate cost for federal income tax purposes was $321.2 million as of December 31, 2023. (2) Interest is due monthly, and principal is due at the maturity date. Changes in mortgage loans are summarized as follows: Year Ended December 31, 2023 2022 2021 Balance at the beginning of the year $ 319,000 $ 312,343 $ 22,343 Additions during period: Draws — 10,000 — New mortgage loans — — 290,000 Deductions during period: Paydowns/repayments — (3,343) — Balance at the end of the year $ 319,000 $ 319,000 $ 312,343

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net income (loss)	$ 13,756	$ (77,605)	$ (113,256)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2023
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	The accompanying consolidated financial statements include the accounts of Sabra and its wholly owned subsidiaries as of December 31, 2023 and 2022 and for the years ended December 31, 2023, 2022 and 2021. All significant intercompany transactions and balances have been eliminated in consolidation. The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”).
Variable Interest Entities	GAAP requires the Company to identify entities for which control is achieved through voting rights or other means and to determine which business enterprise is the primary beneficiary of variable interest entities (“VIEs”). A VIE is broadly defined as an entity with one or more of the following characteristics: (a) the total equity investment at risk is insufficient to finance the entity’s activities without additional subordinated financial support; (b) as a group, the holders of the equity investment at risk lack (i) the ability to make decisions about the entity’s activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; or (c) the equity investors have voting rights that are not proportional to their economic interests, and substantially all of the entity’s activities either involve, or are conducted on behalf of, an investor that has disproportionately few voting rights. If the Company were determined to be the primary beneficiary of the VIE, the Company would consolidate investments in the VIE. The Company may change its original assessment of a VIE due to events such as modifications of contractual arrangements that affect the characteristics or adequacy of the entity’s equity investments at risk and the disposal of all or a portion of an interest held by the primary beneficiary. The Company identifies the primary beneficiary of a VIE as the enterprise that has both: (i) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance; and (ii) the obligation to absorb losses or the right to receive benefits of the VIE that could be significant to the entity. The Company performs this analysis on an ongoing basis. As of December 31, 2023, the Company determined that it was not the primary beneficiary of any VIEs. As it relates to investments in loans, in addition to the Company’s assessment of VIEs and whether the Company is the primary beneficiary of those VIEs, the Company evaluates the loan terms and other pertinent facts to determine whether the loan investment should be accounted for as a loan or as a real estate joint venture. If an investment has the characteristics of a real estate joint venture, including if the Company participates in the majority of the borrower’s expected residual profit, the Company would account for the investment as an investment in a real estate joint venture and not as a loan investment. Expected residual profit is defined as the amount of profit, whether called interest or another name, such as an equity kicker, above a reasonable amount of interest and fees expected to be earned by a lender. At December 31, 2023 and 2022, none of the Company’s investments in loans were accounted for as real estate joint ventures. As it relates to investments in joint ventures, the Company assesses any partners’ rights and their impact on the presumption of control of the partnership by any single partner. The Company also applies this guidance to managing member interests in limited liability companies. The Company reassesses its determination of which entity controls the joint venture if: there is a change to the terms or in the exercisability of the rights of any partners or members, the general partner or managing member increases or decreases its ownership interests, or there is an increase or decrease in the number of outstanding ownership interests. As of December 31, 2023, the Company’s determination of which entity controls its investments in joint ventures has not changed as a result of any reassessment.
Use of Estimates	The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates.
Real Estate Investments	Real Estate Acquisition Valuation All assets acquired and liabilities assumed in an acquisition of real estate accounted for as a business combination are measured at their acquisition date fair values. For acquisitions of real estate accounted for as an asset acquisition, the fair value of consideration transferred by the Company (including transaction costs) is allocated to all assets acquired and liabilities assumed on a relative fair value basis. The acquisition value of land, building and improvements are included in real estate investments on the accompanying consolidated balance sheets. The acquisition value of above market lease, tenant origination and absorption costs and tenant relationship intangible assets is included in lease intangible assets, net on the accompanying consolidated balance sheets. The acquisition value of below market lease intangible liabilities is included in lease intangible liabilities, net on the accompanying consolidated balance sheets. Acquisition costs associated with real estate acquisitions deemed asset acquisitions are capitalized, and costs associated with real estate acquisitions deemed business combinations are expensed as incurred. Restructuring costs that do not meet the definition of a liability at the acquisition date are expensed in periods subsequent to the acquisition date. Estimates of the fair values of the tangible assets, identifiable intangibles and assumed liabilities require the Company to make significant assumptions to estimate market lease rates, property operating expenses, carrying costs during lease-up periods, discount rates, market absorption periods, and the number of years the property will be held for investment. The Company makes its best estimate based on the Company’s evaluation of the specific characteristics of each tenant’s lease. The use of inappropriate assumptions would result in an incorrect valuation of the Company’s acquired tangible assets, identifiable intangibles and assumed liabilities, which would impact the amount of the Company’s net income. Depreciation and Amortization Real estate costs related to the acquisition and improvement of properties are capitalized and amortized on a straight-line basis over the lesser of the expected useful life of the asset and the remaining lease term of any property subject to a ground lease. Tenant improvements are capitalized and amortized on a straight-line basis over the lesser of the expected useful life of the asset and the remaining lease term. Depreciation is discontinued when a property is identified as held for sale. Repair and maintenance costs are charged to expense as incurred and significant replacements and betterments are capitalized. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset. The Company considers the period of future benefit of an asset to determine its appropriate useful life. Depreciation of real estate assets and amortization of tenant origination and absorption costs and tenant relationship lease intangibles are included in depreciation and amortization on the accompanying consolidated statements of income (loss). Amortization of above and below market lease intangibles is included in rental income on the accompanying consolidated statements of income (loss). The Company anticipates the estimated useful lives of its assets by class to be generally as follows: land improvements, 15 to 20 years; buildings and building improvements, five three Impairment of Real Estate Investments The Company regularly monitors events and changes in circumstances, including investment operating performance and general market conditions, that could indicate that the carrying amounts of its real estate investments may not be recoverable. When indicators of potential impairment suggest that the carrying value of real estate investments may not be recoverable, the Company assesses the recoverability by estimating whether the Company will recover the carrying value of its real estate investments through the undiscounted future cash flows and the eventual disposition of the investment. In some instances, there may be various potential outcomes for an investment and its potential undiscounted future cash flows. In these instances, the undiscounted future cash flows models used to assess recoverability are based on several assumptions and are probability-weighted based on the Company’s best estimates as of the date of evaluation. These assumptions include, among others, market rent, revenue and expense growth rates, absorption period, stabilized occupancy, holding period, market capitalization rates, and estimated market values based on analysis of letters of intent, purchase and sale agreements and recent sales data for comparable properties. When discounted cash flow is used to determine fair value, a discount rate assumption is also used. The assumptions are generally based on management’s experience in its local real estate markets, and the effects of current market conditions, which are subject to economic and market uncertainties. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of its real estate investments, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of its real estate investments. The Company determines estimated fair value based primarily upon (i) estimated sale prices from signed contracts or letters of intent from third-party offers, (ii) discounted cash flow models of the investment over its remaining hold period, (iii) third-party appraisals and (iv) recent sales data for comparable properties.
Real Estate Investments, Inventory	Real Estate Acquisition Valuation All assets acquired and liabilities assumed in an acquisition of real estate accounted for as a business combination are measured at their acquisition date fair values. For acquisitions of real estate accounted for as an asset acquisition, the fair value of consideration transferred by the Company (including transaction costs) is allocated to all assets acquired and liabilities assumed on a relative fair value basis. The acquisition value of land, building and improvements are included in real estate investments on the accompanying consolidated balance sheets. The acquisition value of above market lease, tenant origination and absorption costs and tenant relationship intangible assets is included in lease intangible assets, net on the accompanying consolidated balance sheets. The acquisition value of below market lease intangible liabilities is included in lease intangible liabilities, net on the accompanying consolidated balance sheets. Acquisition costs associated with real estate acquisitions deemed asset acquisitions are capitalized, and costs associated with real estate acquisitions deemed business combinations are expensed as incurred. Restructuring costs that do not meet the definition of a liability at the acquisition date are expensed in periods subsequent to the acquisition date. Estimates of the fair values of the tangible assets, identifiable intangibles and assumed liabilities require the Company to make significant assumptions to estimate market lease rates, property operating expenses, carrying costs during lease-up periods, discount rates, market absorption periods, and the number of years the property will be held for investment. The Company makes its best estimate based on the Company’s evaluation of the specific characteristics of each tenant’s lease. The use of inappropriate assumptions would result in an incorrect valuation of the Company’s acquired tangible assets, identifiable intangibles and assumed liabilities, which would impact the amount of the Company’s net income. Depreciation and Amortization Real estate costs related to the acquisition and improvement of properties are capitalized and amortized on a straight-line basis over the lesser of the expected useful life of the asset and the remaining lease term of any property subject to a ground lease. Tenant improvements are capitalized and amortized on a straight-line basis over the lesser of the expected useful life of the asset and the remaining lease term. Depreciation is discontinued when a property is identified as held for sale. Repair and maintenance costs are charged to expense as incurred and significant replacements and betterments are capitalized. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset. The Company considers the period of future benefit of an asset to determine its appropriate useful life. Depreciation of real estate assets and amortization of tenant origination and absorption costs and tenant relationship lease intangibles are included in depreciation and amortization on the accompanying consolidated statements of income (loss). Amortization of above and below market lease intangibles is included in rental income on the accompanying consolidated statements of income (loss). The Company anticipates the estimated useful lives of its assets by class to be generally as follows: land improvements, 15 to 20 years; buildings and building improvements, five three Impairment of Real Estate Investments The Company regularly monitors events and changes in circumstances, including investment operating performance and general market conditions, that could indicate that the carrying amounts of its real estate investments may not be recoverable. When indicators of potential impairment suggest that the carrying value of real estate investments may not be recoverable, the Company assesses the recoverability by estimating whether the Company will recover the carrying value of its real estate investments through the undiscounted future cash flows and the eventual disposition of the investment. In some instances, there may be various potential outcomes for an investment and its potential undiscounted future cash flows. In these instances, the undiscounted future cash flows models used to assess recoverability are based on several assumptions and are probability-weighted based on the Company’s best estimates as of the date of evaluation. These assumptions include, among others, market rent, revenue and expense growth rates, absorption period, stabilized occupancy, holding period, market capitalization rates, and estimated market values based on analysis of letters of intent, purchase and sale agreements and recent sales data for comparable properties. When discounted cash flow is used to determine fair value, a discount rate assumption is also used. The assumptions are generally based on management’s experience in its local real estate markets, and the effects of current market conditions, which are subject to economic and market uncertainties. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of its real estate investments, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of its real estate investments. The Company determines estimated fair value based primarily upon (i) estimated sale prices from signed contracts or letters of intent from third-party offers, (ii) discounted cash flow models of the investment over its remaining hold period, (iii) third-party appraisals and (iv) recent sales data for comparable properties.
Revenue Recognition	Revenue Recognition The Company recognizes rental revenue from tenants, including rental abatements, lease incentives and contractual fixed increases attributable to operating leases, on a straight-line basis over the term of the related leases when it is probable that substantially all rents over the life of a lease are collectible. Certain of the Company’s leases provide for contingent rents equal to a percentage of the facility’s revenue in excess of specified base amounts or other thresholds. Such revenue is recognized when actual results reported by the tenant, or estimates of tenant results, exceed the applicable base amount or other threshold. The Company assesses the collectability of rents on a lease-by-lease basis, and in doing so, considers such things as historical bad debts, tenant creditworthiness, current economic trends, facility operating performance, lease structure, credit enhancements (including guarantees), current developments relevant to a tenant’s business specifically and to its business category generally, and changes in tenants’ payment patterns. The Company’s assessment includes an estimation of a tenant’s ability to fulfill all of its rental obligations over the remaining lease term. In addition, with respect to tenants in bankruptcy, management makes estimates of the expected recovery of pre-petition and post-petition claims in assessing the estimated collectability of the related receivable. If at any time the Company cannot determine that it is probable that substantially all rents over the life of a lease are collectible, rental revenue will be recognized only to the extent of payments received, and all receivables associated with the lease will be written off irrespective of amounts expected to be collectible. Any recoveries of these amounts will be recorded in future periods upon receipt of payment. Write-offs of receivables and any recoveries of previously written-off receivables are recorded as adjustments to rental revenue.
Government Grants	By analogy to International Accounting Standards 20, Accounting for Government Grants and Disclosure of Government Assistance, government assistance provided to the Company in the form of an income grant, which is not related to long-lived assets and is not required to be repaid, is recognized as grant income when there is reasonable assurance that the grant will be received and the Company will comply with any conditions associated with the grant. Additionally, grants are recognized over the periods in which the Company recognizes the qualifying expenses and/or lost income for which the grants are intended to compensate.
Assets Held for Sale, Dispositions and Discontinued Operations	The Company generally considers real estate to be “held for sale” when the following criteria are met: (i) management commits to a plan to sell the property, (ii) the property is available for sale immediately, (iii) the property is actively being marketed for sale at a price that is reasonable in relation to its current fair value, (iv) the sale of the property within one year is considered probable and (v) significant changes to the plan to sell are not expected. Real estate that is held for sale and its related assets are classified as assets held for sale and are included in accounts receivable, prepaid expenses and other assets, net on the accompanying consolidated balance sheets. Secured indebtedness and other liabilities related to real estate held for sale are classified as liabilities related to assets held for sale and are included in accounts payable and accrued liabilities on the accompanying consolidated balance sheets. Real estate classified as held for sale is no longer depreciated and is reported at the lower of its carrying value or its estimated fair value less estimated costs to sell. As of December 31, 2023 and 2022, the Company did not have any assets held for sale. For sales of real estate where the Company has collected the consideration to which it is entitled in exchange for transferring the real estate, the related assets and liabilities are removed from the balance sheet and the resultant gain or loss is recorded in the period in which the transaction closes. Any post-sale involvement is accounted for as separate performance obligations, and when the separate performance obligations are satisfied, the portion of the sales price allocated to each such obligation is recognized.
Investment in Unconsolidated Joint Ventures and Preferred Equity Investments and Preferred Return	The Company reports investments in unconsolidated entities over whose operating and financial policies it has the ability to exercise significant influence under the equity method of accounting. Under this method of accounting, the Company’s share of the investee’s earnings or losses is included in the Company’s consolidated statements of income (loss). The initial carrying value of the investment is based on the amount paid to purchase the joint venture interest. Differences between the Company’s cost basis and the basis reflected at the joint venture level are generally amortized over the lives of the related assets and liabilities, and such amortization is included in the Company’s share of earnings of the joint venture. In addition, distributions received from unconsolidated entities are classified based on the nature of the activity or activities that generated the distribution. The Company regularly monitors events and changes in circumstances, including investment operating performance, changes in anticipated holding period and general market conditions, that could indicate that the carrying amounts of its equity method investments may be impaired. An equity method investment's value is impaired when the fair value of the investment is less than its carrying value and the Company determines the decline in value is other-than-temporary. The fair value is estimated based on discounted cash flows models that include all estimated cash inflows and outflows and any estimated debt premiums or discounts. The discounted cash flows are based on several assumptions, including management fee, absorption period, terminal capitalization rates, revenue and expense per bed, revenue and expense growth percentage, replacement reserve per unit, stabilized occupancy, stabilized operating margin, price per bed and discount rates. The assumptions are generally based on management’s experience in its local real estate markets, and the effects of current market conditions, which are subject to economic and market uncertainties. If the Company believes that there is an other-than-temporary decline in the value of an equity method investment, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of such equity method investment. Preferred equity investments are accounted for at unreturned capital contributions, plus accrued and unpaid preferred returns. The Company recognizes preferred return income on a monthly basis based on the outstanding investment including any previously accrued and unpaid return. As a preferred member of the preferred equity joint ventures in which the Company participates, the Company is not entitled to share in the joint venture’s earnings or losses. Rather, the Company is entitled to receive a preferred return, which is deferred if the cash flow of the joint venture is insufficient to currently pay the accrued preferred return. The Company regularly monitors events and changes in circumstances that could indicate that the carrying amounts of its preferred equity investments may not be recoverable or realized. On a quarterly basis, the Company evaluates its preferred equity investments for impairment based on a comparison of the fair value of the investment to its carrying value. The fair value is estimated based on discounted cash flows that include all estimated cash inflows and outflows over a specified holding period. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of its preferred equity investment, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of its preferred equity investment.
Loans Receivable	Loans Receivable The Company’s loans receivable are reflected at amortized cost on the accompanying consolidated balance sheets. The amortized cost of a loan receivable is the outstanding unpaid principal balance, net of unamortized discounts, costs and fees directly associated with the origination of the loan. Loans acquired in connection with a business combination are recorded at their acquisition date fair value. The Company determines the fair value of loans receivable based on estimates of expected discounted cash flows, collateral, credit risk and other factors. The Company does not establish a valuation allowance at the acquisition date, as the amount of estimated future cash flows reflects its judgment regarding their uncertainty. The Company recognizes the difference between the acquisition date fair value and the total expected cash flows as interest income using the effective interest method over the life of the applicable loan. The Company immediately recognizes in income any unamortized balances if the loan is repaid before its contractual maturity. Interest income on the Company’s loans receivable is recognized on an accrual basis over the life of the investment using the interest method. Direct loan origination costs are amortized over the term of the loan as an adjustment to interest income. When concerns exist as to the ultimate collection of principal or interest due under a loan, the loan is placed on nonaccrual status, and the Company will not recognize interest income until the cash is received, or the loan returns to accrual status. If the Company determines that the collection of interest according to the contractual terms of the loan or through the receipts of assets in satisfaction of contractual amounts due is probable, the Company will resume the accrual of interest. In instances where borrowers are in default under the terms of their loans, the Company may continue recognizing interest income provided that all amounts owed under the contractual terms of the loan, including accrued and unpaid interest, do not exceed the estimated fair value of the collateral, less costs to sell. On a quarterly basis, the Company evaluates the collectability of its interest income receivable and establishes a reserve for amounts not expected to be collected. The Company’s evaluation includes reviewing credit quality indicators such as payment status, changes affecting the operations of the facilities securing the loans, and national and regional economic factors. The reserve is a valuation allowance that reflects management’s estimate of losses inherent in the interest income receivable balance as of the balance sheet date. The reserve is adjusted through provision for loan losses and other reserves on the Company’s consolidated statements of income (loss) and is decreased by charge-offs to specific receivables.
Credit Losses	Credit Losses On a quarterly basis, the Company evaluates the collectability of its loan portfolio, including the portion of unfunded loan commitments expected to be funded, and establishes an allowance for credit losses. The allowance for credit losses is calculated using the related amortization schedules, payment histories and loan-to-value ratios. The following rates are applied to determine the aggregate expected losses, which is recorded as the allowance for credit losses: (i) a default rate, (ii) a liquidation cost rate and (iii) a distressed property reduction rate. If no loan-to-value ratio is available, a loss severity rate is applied in place of the liquidation cost rate and the distressed property reduction rate. The default rate is based on average charge-off and delinquency rates from the Federal Reserve, and the other rates are based on industry research and historical performance of a similar portfolio of financial assets. The allowance for credit losses is a valuation allowance that reflects management’s estimate of losses inherent in the loan portfolio as of the balance sheet date. The reserve is adjusted through provision for loan losses and other reserves on the Company’s consolidated statements of income (loss) and is decreased by charge-offs to specific loans.
Cash and Cash Equivalents	The Company considers all short-term (with an original maturity of three months or less), highly-liquid investments utilized as part of the Company’s cash-management activities to be cash equivalents. Cash equivalents may include cash and short-term investments. Short-term investments are stated at cost, which approximates fair value.
Restricted Cash	Restricted cash primarily consists of amounts held by an exchange accommodation titleholder or by secured debt lenders to provide for future real estate tax expenditures, tenant improvements and capital expenditures. Pursuant to the terms of the Company’s leases with certain tenants, the Company has assigned its interests in certain of these restricted cash accounts with secured debt lenders to the tenants, and this amount is included in accounts payable and accrued liabilities on the Company’s consolidated balance sheets.
Lessee Accounting	Lessee Accounting
Stock-Based Compensation	Stock-based compensation expense for stock-based awards granted to Sabra’s employees (teammates) and its non-employee directors is recognized in the statements of income (loss) based on the estimated grant date fair value, as adjusted. Compensation expense for awards with graded vesting schedules is generally recognized ratably over the period from the grant date to the date when the award is no longer contingent on the recipient providing additional services. Compensation expense for awards with performance-based vesting conditions is recognized based on the Company’s estimate of the ultimate value of such award after considering the Company’s expectations of future performance. Forfeitures of stock-based awards are recognized as they occur.
Deferred Financing Costs	Deferred financing costs representing fees paid to third parties are amortized over the terms of the respective financing agreements using the interest method. Deferred financing costs related to secured debt, term loans and senior unsecured notes are recorded as a reduction of the related debt liability, and deferred financing costs related to the revolving credit facility are recorded in accounts receivable, prepaid expenses and other assets, net. Unamortized deferred financing costs are generally expensed when the associated debt is refinanced or repaid before maturity. Costs incurred in seeking financings that do not close are expensed in the period in which it is determined that the financing will not close.
Income Taxes	The Company elected to be treated as a REIT with the filing of its U.S. federal income tax return for the taxable year beginning January 1, 2011. The Company believes that it has been organized and operated, and it intends to continue to operate, in a manner to qualify as a REIT. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of the Company’s annual REIT taxable income to stockholders (which is computed without regard to the dividends-paid deduction or net capital gains and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax on income that it distributes as dividends to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to U.S. federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost, unless the Internal Revenue Service grants the Company relief under certain statutory provisions. Such an event could materially and adversely affect the Company’s net income and net cash available for distribution to stockholders. However, the Company believes that it is organized and operates in such a manner as to qualify for treatment as a REIT. As a result of certain investments, the Company now records income tax expense or benefit with respect to certain of its entities that are taxed as taxable REIT subsidiaries under provisions similar to those applicable to regular corporations and not under the REIT provisions. The Company accounts for deferred income taxes using the asset and liability method and recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the Company’s financial statements or tax returns. Under this method, the Company determines deferred tax assets and liabilities based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Any increase or decrease in the deferred tax liability that results from a change in circumstances, and that causes a change in the Company’s judgment about expected future tax consequences of events, is included in the tax provision when such changes occur. Deferred income taxes also reflect the impact of operating loss and tax credit carryforwards. A valuation allowance is provided if the Company believes it is more likely than not that all or some portion of the deferred tax asset will not be realized. Any increase or decrease in the valuation allowance that results from a change in circumstances, and that causes a change in the Company’s judgment about the realizability of the related deferred tax asset, is included in the tax provision when such changes occur.
Foreign Currency	Certain of the Company’s subsidiaries’ functional currencies are the local currencies of their respective foreign jurisdictions. The Company translates the results of operations of its foreign subsidiaries into U.S. dollars using average rates of exchange in effect during the period presented, and it translates balance sheet accounts using exchange rates in effect at the end of the period presented. The Company records resulting currency translation adjustments in accumulated other comprehensive loss, a component of stockholders’ equity, on its consolidated balance sheets, and it records foreign currency transaction gains and losses as a component of other (expense) income on its consolidated statements of income (loss).
Derivative Instruments	The Company uses certain types of derivative instruments for the purpose of managing interest rate and currency risk. To qualify for hedge accounting, derivative instruments used for risk management purposes must effectively reduce the risk exposure that they are designed to hedge. In addition, at inception, the Company must make an assessment that the transaction that the Company intends to hedge is probable of occurring, and this assessment must be updated each reporting period. The Company recognizes all derivative instruments as assets or liabilities on the consolidated balance sheets at their fair value. For derivatives designated and qualified as a hedge, the change in fair value of the effective portion of the derivatives is recognized in accumulated other comprehensive loss. Changes in the fair value of derivative instruments that are not designated in hedging relationships or that do not meet the criteria for hedge accounting would be recognized in earnings. In addition, the Company classifies cash flows from qualifying cash flow hedging relationships in the same category as the cash flows from the hedged items. The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objectives and strategy for undertaking various hedge transactions. This process includes designating all derivatives that are part of a hedging relationship to specific transactions, as well as recognizing obligations or assets on the consolidated balance sheets. The Company also assesses and documents, both at inception of the hedging relationship and on a quarterly basis thereafter, whether the derivatives are highly effective in offsetting the designated risks associated with the respective hedged items. If it is determined that a derivative ceases to be highly effective as a hedge, or that it is probable the underlying transaction will not occur, the Company would discontinue hedge accounting prospectively and record the appropriate adjustment to earnings based on the then-current fair value of the derivative.
Fair Value Measurements	Under GAAP, the Company is required to measure certain financial instruments at fair value on a recurring basis. In addition, the Company is required to measure other financial instruments and balances at fair value on a non-recurring basis (e.g., carrying value of impaired loans receivable and long-lived assets). Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The GAAP fair value framework uses a three-tiered approach. Fair value measurements are classified and disclosed in one of the following three categories: • Level 1: unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities; • Level 2: quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and • Level 3: prices or valuation techniques where little or no market data is available that requires inputs that are both significant to the fair value measurement and unobservable. When available, the Company utilizes quoted market prices from an independent third-party source to determine fair value and classifies such items as Level 1 or Level 2. In instances where the market for a financial instrument is not active, regardless of the availability of a nonbinding quoted market price, observable inputs might not be relevant and could require the Company to make a significant adjustment to derive a fair value measurement. Additionally, in an inactive market, a market price quoted from an independent third party may rely more on models with inputs based on information available only to that independent third party. When the Company determines the market for a financial instrument owned by the Company to be illiquid or when market transactions for similar instruments do not appear orderly, the Company may use several valuation sources (including internal valuations, discounted cash flow analysis and quoted market prices) to establish a fair value. If more than one valuation source is used, the Company will assign weights to the various valuation sources. Additionally, when determining the fair value of liabilities in circumstances in which a quoted price in an active market for an identical liability is not available, the Company measures fair value using (i) a valuation technique that uses the quoted price of the identical liability when traded as an asset or quoted prices for similar liabilities or similar liabilities when traded as assets or (ii) another valuation technique that is consistent with the principles of fair value measurement, such as the income approach or the market approach. Changes in assumptions or estimation methodologies can have a material effect on these estimated fair values. In this regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, may not be realized in an immediate settlement of the instrument. The Company considers the following factors to be indicators of an inactive market: (i) there are few recent transactions, (ii) price quotations are not based on current information, (iii) price quotations vary substantially either over time or among market makers (for example, some brokered markets), (iv) indexes that previously were highly correlated with the fair values of the asset or liability are demonstrably uncorrelated with recent indications of fair value for that asset or liability, (v) there is a significant increase in implied liquidity risk premiums, yields, or performance indicators (such as delinquency rates or loss severities) for observed transactions or quoted prices when compared with the Company’s estimate of expected cash flows, considering all available market data about credit and other nonperformance risk for the asset or liability, (vi) there is a wide bid-ask spread or significant increase in the bid-ask spread, (vii) there is a significant decline or absence of a market for new issuances (that is, a primary market) for the asset or liability or similar assets or liabilities, and (viii) little information is released publicly (for example, a principal-to-principal market). The Company considers the following factors to be indicators of non-orderly transactions: (i) there was not adequate exposure to the market for a period before the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets or liabilities under current market conditions, (ii) there was a usual and customary marketing period, but the seller marketed the asset or liability to a single market participant, (iii) the seller is in or near
Per Share Data	Basic earnings per common share is computed by dividing net income applicable to common stockholders by the weighted average number of shares of common stock and common equivalents outstanding during the period. Diluted earnings per common share is calculated by including the effect of dilutive securities, such as the impact of forward equity sales agreements using the treasury stock method and common shares issuable from certain performance restricted stock units and unvested restricted stock units.
Industry Segments	The Company has one reportable segment consisting of investments in healthcare-related real estate properties.
Recently Issued Accounting Standards Update	Issued but Not Yet Adopted In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). ASU 2020-04 provides temporary optional guidance that provides transition relief for reference rate reform, including optional expedients and exceptions for applying GAAP to contract modifications, hedging relationships and other transactions that reference the London Interbank Offered Rate (“LIBOR”) or a reference rate that is expected to be discontinued as a result of reference rate reform if certain criteria are met. ASU 2020-04 is effective upon issuance, and the provisions generally can be applied prospectively as of January 1, 2020 through December 31, 2024. During the first quarter of 2020, the Company elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. As of July 1, 2023, the Company had converted all of its LIBOR-indexed debt and derivatives to Secured Overnight Financing Rate (“SOFR”)-based indexes (effective with the respective instrument’s next reset date for certain instruments). For all derivatives in hedge accounting relationships, the Company utilized the effective relief in Topic 848 that allows for the continuation of hedge accounting throughout the transition process. Application of these expedients preserves the presentation of derivatives consistent with past presentation. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope, which refines the scope of Topic 848 and clarifies some of its guidance. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848, which defers the sunset date of Topic 848 from December 31, 2022 to December 31, 2024. The Company continues to evaluate the impact of the guidance as it relates to hedging relationships and other transactions that reference the Canadian Dollar Offered Rate (“CDOR”) which is expected to be discontinued in 2024 and may apply other elections as applicable as additional changes in the market occur.
Fair Value of Financial Instruments	The fair value for certain financial instruments is derived using a combination of market quotes, pricing models and other valuation techniques that involve significant management judgment. The price transparency of financial instruments is a key determinant of the degree of judgment involved in determining the fair value of the Company’s financial instruments. Financial instruments for which actively quoted prices or pricing parameters are available and whose markets contain orderly transactions will generally have a higher degree of price transparency than financial instruments whose markets are inactive or consist of non-orderly trades. The Company evaluates several factors when determining if a market is inactive or when market transactions are not orderly. The carrying values of cash and cash equivalents, restricted cash, accounts payable, accrued liabilities and the Credit Agreement are reasonable estimates of fair value because of the short-term maturities of these instruments. Fair values for other financial instruments are derived as follows: Loans receivable : These instruments are presented on the accompanying consolidated balance sheets at their amortized cost and not at fair value. The fair values of the loans receivable were estimated using an internal valuation model that considered the expected cash flows for the loans receivable, as well as the underlying collateral value and other credit enhancements as applicable. The Company utilized discount rates ranging from 6% to 15% with a weighted average rate of 6% in its fair value calculation. As such, the Company classifies these instruments as Level 3. Preferred equity investments : These instruments are presented on the accompanying consolidated balance sheets at their cost and not at fair value. The fair values of the preferred equity investments were estimated using an internal valuation model that considered the expected future cash flows for the preferred equity investments, the underlying collateral value and other credit enhancements. The Company utilized discount rates ranging from 10% to 15% with a weighted average rate of 11% in its fair value calculation. As such, the Company classifies these instruments as Level 3. Derivative instruments : The Company’s derivative instruments are presented at fair value on the accompanying consolidated balance sheets. The Company estimates the fair value of derivative instruments, including its interest rate swaps, interest rate collars and cross currency swaps, using the assistance of a third party using inputs that are observable in the market, which include forward yield curves and other relevant information. Although the Company has determined that the majority of the inputs used to value its derivative financial instruments fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivative financial instruments utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by itself and its counterparties. The Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of its derivative financial instruments. As a result, the Company has determined that its derivative financial instruments valuations in their entirety are classified in Level 2 of the fair value hierarchy. Senior Notes : These instruments are presented on the accompanying consolidated balance sheets at their outstanding principal balance, net of unamortized deferred financing costs and premiums/discounts and not at fair value. The fair values of the Senior Notes were determined using third-party market quotes derived from orderly trades. As such, the Company classifies these instruments as Level 2. Secured indebtedness : These instruments are presented on the accompanying consolidated balance sheets at their outstanding principal balance, net of unamortized deferred financing costs and premiums/discounts and not at fair value. The fair values of the Company’s secured debt were estimated using a discounted cash flow analysis based on management’s estimates of current market interest rates for instruments with similar characteristics, including remaining loan term, loan-to-value ratio, type of collateral and other credit enhancements. The Company utilized a rate of 6% in its fair value calculation. As such, the Company classifies these instruments as Level 3.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of Future Minimum Lease Payments	As of December 31, 2023, the weighted average remaining lease term and discount rate were 17 years and 8%, respectively, and the future minimum lease payments under the operating leases included in the Company’s lease liability were as follows (in thousands): 2024 $ 1,310 2025 1,802 2026 1,324 2027 1,347 2028 1,330 Thereafter 18,104 Undiscounted minimum lease payments included in the lease liability 25,217 Less: imputed interest (12,729) Present value of lease liability $ 12,488

RECENT REAL ESTATE ACQUISITIO_2

RECENT REAL ESTATE ACQUISITIONS (CONSOLIDATED) (Tables)	12 Months Ended
RECENT REAL ESTATE ACQUISITIONS (CONSOLIDATED) (Tables)	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Purchase Price Allocation	The consideration was allocated as follows (in thousands): Year Ended December 31, 2023 2022 Land $ 6,796 $ 11,767 Building and improvements 79,830 89,646 Tenant origination and absorption costs intangible assets 3,492 5,061 Tenant relationship intangible assets 255 41 Total consideration $ 90,373 $ 106,515

INVESTMENT IN REAL ESTATE PRO_2

INVESTMENT IN REAL ESTATE PROPERTIES (Tables)	12 Months Ended
INVESTMENT IN REAL ESTATE PROPERTIES (Tables)	Dec. 31, 2023
Real Estate [Abstract]
Schedule of Real Estate Properties Held for Investment	The Company’s real estate properties held for investment consisted of the following (dollars in thousands): As of December 31, 2023 Property Type Number of Number of Total Accumulated Total Skilled Nursing/Transitional Care 241 26,769 $ 3,050,861 $ (535,653) $ 2,515,208 Senior Housing - Leased 43 3,473 573,274 (109,601) 463,673 Senior Housing - Managed 61 6,041 1,289,485 (255,803) 1,033,682 Behavioral Health 18 1,159 496,737 (71,943) 424,794 Specialty Hospitals and Other 15 392 225,443 (47,454) 177,989 378 37,834 5,635,800 (1,020,454) 4,615,346 Corporate Level 2,547 (632) 1,915 $ 5,638,347 $ (1,021,086) $ 4,617,261 As of December 31, 2022 Property Type Number of Number of Total Accumulated Total Skilled Nursing/Transitional Care 264 29,136 $ 3,385,221 $ (492,495) $ 2,892,726 Senior Housing - Leased 47 3,550 590,694 (97,716) 492,978 Senior Housing - Managed 59 5,942 1,205,283 (222,089) 983,194 Behavioral Health 17 965 465,143 (58,481) 406,662 Specialty Hospitals and Other 15 392 225,443 (42,038) 183,405 402 39,985 5,871,784 (912,819) 4,958,965 Corporate Level 904 (526) 378 $ 5,872,688 $ (913,345) $ 4,959,343 As of December 31, 2023 2022 Building and improvements $ 4,843,258 $ 5,034,470 Furniture and equipment 238,185 262,644 Land improvements 10,306 7,085 Land 546,598 568,489 Total real estate at cost 5,638,347 5,872,688 Accumulated depreciation (1,021,086) (913,345) Total real estate investments, net $ 4,617,261 $ 4,959,343
Schedule of Future Minimum Rental Payments from Non-Cancelable Operating Leases	As of December 31, 2023, the future minimum rental payments from the Company’s properties held for investment under non-cancelable operating leases were as follows and may materially differ from actual future rental payments received (in thousands): 2024 $ 377,721 2025 372,911 2026 357,434 2027 334,489 2028 310,963 Thereafter 1,289,067 $ 3,042,585
Schedule of Investment in Joint Ventures	The following is a summary of the Company’s investment in unconsolidated joint ventures (dollars in thousands): Property Type Number of Properties as of December 31, 2023 Ownership as of December 31, 2023 (1) Book Value as of December 31, 2023 2022 Sienna Joint Venture Senior Housing - Managed 12 50 % $ 119,724 $ 120,269 Marlin Spring Joint Venture Senior Housing - Managed 4 85 % 17,119 14,693 $ 136,843 $ 134,962 (1) These investments are not consolidated because the Company does not control, through voting rights or other means, the joint ventures. The following tables present summarized financial information for the Company’s investments in unconsolidated joint ventures (in thousands). As of December 31, 2023 2022 Total assets $ 353,779 $ 754,220 Total liabilities 106,490 894,969 Member’s equity (deficit) 247,289 (140,749) Year Ended December 31, 2023 2022 2021 Total revenues $ 64,446 $ 351,073 $ 274,693 Operating expenses (1) 47,811 324,462 265,194 Net loss (9,823) (66,171) (35,276) Company’s share of net loss $ (2,897) $ (32,581) $ (17,184) Basis adjustments — 7,673 10,771 Other-than-temporary impairment — 57,778 164,126 Loss from unconsolidated joint venture $ (2,897) $ (98,032) $ (192,081) (1) During the years ended December 31, 2022 and 2021, TPG caused the Enlivant Joint Venture to fund $25.0 million and $20.0 million, respectively, of payments to Enlivant beyond amounts contractually required under the management agreement. These payments were to support the operations of Enlivant and are reflected as operating expenses. Funding for the support payments did not require capital contributions from Sabra but rather were funded with proceeds received by the Enlivant Joint Venture from TPG for the issuance of senior preferred interests or with cash on hand at the Enlivant Joint Venture.

IMPAIRMENT OF REAL ESTATE AND_2

IMPAIRMENT OF REAL ESTATE AND DISPOSITIONS (Tables)	12 Months Ended
IMPAIRMENT OF REAL ESTATE AND DISPOSITIONS (Tables)	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Dispositions	The following table summarizes the Company’s dispositions for the periods presented (dollars in millions): Year Ended December 31, 2023 2022 2021 Number of facilities 28 18 16 Consideration, net of closing costs $ 255.6 $ 87.3 $ 103.4 Net carrying value 332.2 99.3 92.1 Net (loss) gain on sale $ (76.6) $ (12.0) $ 11.3

INTANGIBLE ASSETS AND LIABILI_2

INTANGIBLE ASSETS AND LIABILITIES (Tables)	12 Months Ended
INTANGIBLE ASSETS AND LIABILITIES (Tables)	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Liabilities	The following table summarizes the Company’s intangible assets and liabilities as of December 31, 2023 and 2022 (in thousands): As of December 31, 2023 2022 Lease Intangible Assets: Above market leases $ 7,496 $ 7,496 Tenant origination and absorption costs 43,071 58,578 Tenant relationship 16,983 20,119 Gross lease intangible assets 67,550 86,193 Accumulated amortization (36,653) (46,062) Lease intangible assets, net $ 30,897 $ 40,131 Lease Intangible Liabilities: Below market leases $ 68,573 $ 80,208 Accumulated amortization (36,041) (37,964) Lease intangible liabilities, net $ 32,532 $ 42,244
Schedule of Real Estate Intangible Amortization Income (Expense)	The following is a summary of real estate intangible amortization income (expense) for the years ended December 31, 2023, 2022 and 2021 (in thousands): Year Ended December 31, 2023 2022 2021 Increase (decrease) to rental income related to above/below market leases, net (1) $ 5,821 $ 6,624 $ (13,512) Depreciation and amortization related to tenant origination and absorption costs and tenant relationship (11,616) (17,591) (8,694) (1) Balance for the year ended December 31, 2021 includes $18.6 million of accelerated amortization related to the above market lease intangible associated with the Company’s lease with Avamere. See Note 4, “Investment in Real Estate Properties,” for further discussion.
Schedule of Remaining Unamortized Balance for Outstanding Intangible Assets	The remaining unamortized balance for these outstanding intangible assets and liabilities as of December 31, 2023 will be amortized for the years ending December 31 as follows (dollars in thousands): Lease Intangible Lease Intangible 2024 $ 5,523 $ 5,690 2025 4,612 5,139 2026 4,411 4,884 2027 3,115 4,442 2028 2,662 4,296 Thereafter 10,574 8,081 $ 30,897 $ 32,532 Weighted-average remaining amortization period 8.8 years 6.5 years
Schedule of Remaining Unamortized Balance for Outstanding Intangible Liabilities	The remaining unamortized balance for these outstanding intangible assets and liabilities as of December 31, 2023 will be amortized for the years ending December 31 as follows (dollars in thousands): Lease Intangible Lease Intangible 2024 $ 5,523 $ 5,690 2025 4,612 5,139 2026 4,411 4,884 2027 3,115 4,442 2028 2,662 4,296 Thereafter 10,574 8,081 $ 30,897 $ 32,532 Weighted-average remaining amortization period 8.8 years 6.5 years

LOANS RECEIVABLE AND OTHER IN_2

LOANS RECEIVABLE AND OTHER INVESTMENTS (Tables)	12 Months Ended
LOANS RECEIVABLE AND OTHER INVESTMENTS (Tables)	Dec. 31, 2023
Receivables [Abstract]
Schedule of Loans Receivable and Other Investments	As of December 31, 2023 and 2022, the Company’s loans receivable and other investments consisted of the following (dollars in thousands): As of December 31, 2023 Investment Quantity as of December 31, 2023 Property Type Principal Balance as of December 31, 2023 (1) Book Value as of December 31, 2023 Book Value as of December 31, 2022 Weighted Average Contractual Interest Rate / Rate of Return Weighted Average Annualized Effective Interest Rate / Rate of Return Maturity Date as of December 31, 2023 Loans Receivable: Mortgage 2 Behavioral Health $ 319,000 $ 319,000 $ 319,000 7.6 % 7.6 % 11/01/26 - 01/31/27 Other 12 Multiple 53,873 50,440 47,936 7.7 % 7.4 % 10/01/23 - 05/01/29 14 372,873 369,440 366,936 7.7 % 7.6 % Allowance for loan losses — (6,665) (6,611) $ 372,873 $ 362,775 $ 360,325 Other Investments: Preferred Equity 5 Skilled Nursing / Senior Housing 57,681 57,849 51,071 11.0 % 11.0 % N/A Total 19 $ 430,554 $ 420,624 $ 411,396 8.1 % 8.1 % (1)
Schedule of Additional Information Regarding the Company's Loans Receivable	Additional information regarding the Company’s loans receivable is as follows (dollars in thousands): Year Ended December 31, 2023 2022 2021 Allowance for loan losses: Balance at the beginning of the year $ 6,611 $ 6,344 $ 2,458 Provision for loan losses 192 267 3,886 Write-off of uncollectible balances (138) — — Balance at the end of the year $ 6,665 $ 6,611 $ 6,344 As of December 31, 2023 2022 Deteriorated credit quality: Number of loans receivable investments 1 1 Principal balance $ 1,214 $ 1,214 Book value — — Nonaccrual status: Number of loans receivable investments 3 3 Book value $ — $ —

DEBT (Tables)

DEBT (Tables)	12 Months Ended
DEBT (Tables)	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Debt	The Company’s secured debt consists of the following (dollars in thousands): Principal Balance as of December 31, (1) As of December 31, 2023 Weighted Average Interest Rate Weighted Average Effective Interest Rate (2) Interest Rate Type 2023 2022 Maturity Date Fixed Rate $ 48,143 $ 50,123 2.85 % 3.34 % May 2031 - (1) Principal balance does not include deferred financing costs, net of $0.8 million and $0.9 million as of December 31, 2023 and 2022, respectively. (2) Weighted average effective interest rate includes private mortgage insurance. The Company’s senior unsecured notes consist of the following (dollars in thousands): Principal Balance as of December 31, (1) Title Maturity Date 2023 2022 5.125% senior unsecured notes due 2026 August 15, 2026 $ 500,000 $ 500,000 5.88% senior unsecured notes due 2027 May 17, 2027 100,000 100,000 3.90% senior unsecured notes due 2029 October 15, 2029 350,000 350,000 3.20% senior unsecured notes due 2031 December 1, 2031 800,000 800,000 $ 1,750,000 $ 1,750,000 (1) Principal balance does not include discount, net of $4.3 million and deferred financing costs, net of $10.5 million as of December 31, 2023 and does not include discount, net of $3.5 million and deferred financing costs, net of $12.0 million as of December 31, 2022. In addition, the weighted average effective interest rate as of December 31, 2023 was 4.01%.
Schedule of Maturities for Outstanding Debt	The following is a schedule of maturities for the Company’s outstanding debt as of December 31, 2023 (in thousands): Secured Revolving Credit Facility (1) Term Loans Senior Notes Total 2024 $ 2,033 $ — $ — $ — $ 2,033 2025 2,089 — — — 2,089 2026 2,147 — — 500,000 502,147 2027 2,206 94,429 — 100,000 196,635 2028 2,266 — 543,190 — 545,456 Thereafter 37,402 — — 1,150,000 1,187,402 Total Debt 48,143 94,429 543,190 1,750,000 2,435,762 Discount, net — — — (4,258) (4,258) Deferred financing costs, net (842) — (6,070) (10,489) (17,401) Total Debt, Net $ 47,301 $ 94,429 $ 537,120 $ 1,735,253 $ 2,414,103 (1) Revolving Credit Facility is subject to two six-month extension options.

DERIVATIVE AND HEDGING INSTRU_2

DERIVATIVE AND HEDGING INSTRUMENTS (Tables)	12 Months Ended
DERIVATIVE AND HEDGING INSTRUMENTS (Tables)	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Amount of Derivatives Instruments	The following presents the notional amount of derivative instruments as of the dates indicated (in thousands): As of December 31, 2023 2022 Derivatives designated as cash flow hedges: Denominated in U.S. Dollars (1) $ 753,750 $ 436,250 Denominated in Canadian Dollars (2) $ 300,000 $ 125,000 Derivatives designated as net investment hedges: Denominated in Canadian Dollars $ 55,335 $ 55,991 Financial instrument designated as net investment hedge: Denominated in Canadian Dollars $ 194,300 $ 329,500 Derivatives not designated as net investment hedges: Denominated in Canadian Dollars $ 965 $ 309 (1) Balance as of December 31, 2023 includes two forward starting interest rate swaps with an effective date of August 2024 and an aggregate notional amount of $323.8 million. (2) Balance as of December 31, 2023 includes two forward starting interest rate swaps with an effective date of September 2024 and an aggregate notional amount of CAD $150.0 million.
Schedule of Derivative and Financial Instruments Designated as Hedging Instruments	The following is a summary of the derivative and financial instruments designated as hedging instruments held by the Company at December 31, 2023 and 2022 (dollars in thousands): Count as of December 31, 2023 Maturity Dates Fair Value as of December 31, Type Designation 2023 2022 Balance Sheet Location Assets: Interest rate swaps Cash flow 5 $ 6,002 $ 11,004 2024 - 2028 Accounts receivable, prepaid expenses and other assets, net Interest rate collars Cash flow 2 3,216 6,622 2024 Accounts receivable, prepaid expenses and other assets, net Forward starting interest rate swaps Cash flow 4 6,736 — 2028 Accounts receivable, prepaid expenses and other assets, net Cross currency interest rate swaps Net investment 2 2,964 3,851 2025 Accounts receivable, prepaid expenses and other assets, net $ 18,918 $ 21,477 Liabilities: CAD borrowings under Revolving Credit Facility Net investment 1 33,429 150,982 2027 Revolving credit facility CAD Term Loan Net investment 1 113,190 92,288 2028 Term loans, net $ 146,619 $ 243,270
Effect of Derivatives and Financial Instruments Designated as Hedging Instruments on Income and Equity	The following presents the effect of the Company’s derivative and financial instruments designated as hedging instruments on the consolidated statements of income (loss) and the consolidated statements of equity for the years ended December 31, 2023, 2022 and 2021 (in thousands): Gain (Loss) Recognized in Other Comprehensive Income (Loss) Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) Income Statement Location For the year ended December 31, 2023 2022 2021 2023 2022 2021 Cash Flow Hedges: Interest rate products $ 13,116 $ 22,032 $ 17,408 $ 8,332 $ (4,179) $ (12,774) Interest expense Net Investment Hedges: Foreign currency products (664) 2,233 (272) — — — N/A CAD borrowings under Revolving Credit Facility (3,456) 9,454 — — — — N/A CAD Term Loan (2,465) 6,150 (338) — — — N/A $ 6,531 $ 39,869 $ 16,798 $ 8,332 $ (4,179) $ (12,774)
Gross Presentation, Effects of Offsetting, and a Net Presentation of Derivatives, Assets	The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of December 31, 2023 and 2022 (in thousands): As of December 31, 2023 Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 18,918 $ — $ 18,918 $ — $ — $ 18,918 Offsetting Liabilities: Derivatives $ — $ — $ — $ — $ — $ — As of December 31, 2022 Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 21,477 $ — $ 21,477 $ — $ — $ 21,477 Offsetting Liabilities: Derivatives $ — $ — $ — $ — $ — $ —
Gross Presentation, Effects of Offsetting, and a Net Presentation of Derivatives, Liabilities	The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of December 31, 2023 and 2022 (in thousands): As of December 31, 2023 Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 18,918 $ — $ 18,918 $ — $ — $ 18,918 Offsetting Liabilities: Derivatives $ — $ — $ — $ — $ — $ — As of December 31, 2022 Gross Amounts of Recognized Assets / Liabilities Gross Amounts Offset in the Balance Sheet Net Amounts of Assets / Liabilities presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Offsetting Assets: Derivatives $ 21,477 $ — $ 21,477 $ — $ — $ 21,477 Offsetting Liabilities: Derivatives $ — $ — $ — $ — $ — $ —

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	12 Months Ended
FAIR VALUE DISCLOSURES (Tables)	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Face Values, Carrying Amounts and Fair Values of Financial Instruments	The following are the face values, carrying amounts and fair values of the Company’s financial instruments as of December 31, 2023 and 2022 whose carrying amounts do not approximate their fair value (in thousands): As of December 31, 2023 As of December 31, 2022 Face (1) Carrying (2) Fair Face (1) Carrying (2) Fair Financial assets: Loans receivable $ 372,873 $ 362,775 $ 383,141 $ 370,364 $ 360,325 $ 370,188 Preferred equity investments 57,681 57,849 59,526 50,902 51,071 51,995 Financial liabilities: Senior Notes 1,750,000 1,735,253 1,567,428 1,750,000 1,734,431 1,463,041 Secured indebtedness 48,143 47,301 36,279 50,123 49,232 38,149 (1) Face value represents amounts contractually due under the terms of the respective agreements. (2) Carrying amount represents the book value of financial instruments, including unamortized premiums/discounts and deferred financing costs.
Schedule of Fair Value of Financial Instruments	The Company determined the fair value of financial instruments as of December 31, 2023 whose carrying amounts do not approximate their fair value with valuation methods utilizing the following types of inputs (in thousands): Fair Value Measurements Using Total Quoted Prices in Significant Other Significant Financial assets: Loans receivable $ 383,141 $ — $ — $ 383,141 Preferred equity investments 59,526 — — 59,526 Financial liabilities: Senior Notes 1,567,428 — 1,567,428 — Secured indebtedness 36,279 — — 36,279
Schedule of Items Measured at Fair Value on a Recurring Basis	During the year ended December 31, 2023, the Company recorded the following amounts measured at fair value (in thousands): Fair Value Measurements Using Total Quoted Prices in Significant Other Significant Recurring Basis: Financial assets: Interest rate swaps $ 6,002 $ — $ 6,002 $ — Interest rate collars 3,216 — 3,216 — Forward starting interest rate swaps 6,736 — 6,736 — Cross currency interest rate swaps 2,964 — 2,964 —

EQUITY (Tables)

EQUITY (Tables)	12 Months Ended
EQUITY (Tables)	Dec. 31, 2023
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income	The following is a summary of the Company’s accumulated other comprehensive income (in thousands): As of December 31, 2023 2022 Foreign currency translation gain $ 963 $ 1,168 Unrealized gain on cash flow hedges 22,782 17,895 Total accumulated other comprehensive income $ 23,745 $ 19,063

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
STOCK-BASED COMPENSATION (Tables)	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Additional Information Concerning Restricted Stock Units	The following table summarizes additional information concerning restricted stock units at December 31, 2023: Restricted Stock Units Weighted Average Grant Date Fair Value Per Unit Unvested as of December 31, 2022 2,147,784 $ 15.07 Granted 832,308 14.73 Vested (591,745) 15.34 Dividends reinvested 237,195 14.96 Cancelled/forfeited (156,275) 19.51 Unvested as of December 31, 2023 2,469,267 $ 14.61
Summary of Assumptions Used in Total Stockholder Return-Based Stock Units Valuation	The following are the key assumptions used in this valuation: 2023 2022 2021 Risk free interest rate 3.98% - 4.13% 0.99% - 4.13% 0.17% - 0.99% Expected stock price volatility 30.17% - 56.11% 53.60% - 56.11% 53.17% - 53.60% Expected service period 3.0 years 3.0 years 3.0 years Expected dividend yield (assuming full reinvestment) — % — % — %

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
INCOME TAXES (Tables)	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Provision for Income Tax Expense	The following is a summary of the Company’s provision for income taxes and deferred taxes (in thousands): Year Ended December 31, 2023 2022 2021 Provision for federal, state and local income taxes $ 2,002 $ 1,234 $ 2,263 Provision (benefit) for foreign income taxes — 8 (418) Income tax expense $ 2,002 $ 1,242 $ 1,845 As of December 31, 2023 2022 Deferred tax assets: Federal $ 9,553 $ 6,390 Valuation allowance on federal (9,553) (6,390) Foreign 12,211 8,455 Valuation allowance on foreign (12,169) (8,430) Deferred tax (liabilities): Foreign (42) (25) $ — $ —
Schedule of Deferred Taxes	The following is a summary of the Company’s provision for income taxes and deferred taxes (in thousands): Year Ended December 31, 2023 2022 2021 Provision for federal, state and local income taxes $ 2,002 $ 1,234 $ 2,263 Provision (benefit) for foreign income taxes — 8 (418) Income tax expense $ 2,002 $ 1,242 $ 1,845 As of December 31, 2023 2022 Deferred tax assets: Federal $ 9,553 $ 6,390 Valuation allowance on federal (9,553) (6,390) Foreign 12,211 8,455 Valuation allowance on foreign (12,169) (8,430) Deferred tax (liabilities): Foreign (42) (25) $ — $ —

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	12 Months Ended
EARNINGS PER COMMON SHARE (Tables)	Dec. 31, 2023
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table illustrates the computation of basic and diluted earnings per share (in thousands, except share and per share amounts): Year Ended December 31, 2023 2022 2021 Numerator Net income (loss) $ 13,756 $ (77,605) $ (113,256) Denominator Basic weighted average common shares and common equivalents 231,203,391 230,947,895 219,073,027 Dilutive restricted stock units 1,589,387 — — Diluted weighted average common shares 232,792,778 230,947,895 219,073,027 Net income (loss), per: Basic common share $ 0.06 $ (0.34) $ (0.52) Diluted common share $ 0.06 $ (0.34) $ (0.52)

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) segment investment variableInterestEntity	Dec. 31, 2022 USD ($) investment	Dec. 31, 2021 USD ($)
Accounting Policies [Line Items]
Number of investments in loans accounted for as real estate joint ventures \| investment	0	0
Gain on business interruption insurance recovery, statement of income or comprehensive income	Other income (expense)
Assets held for sale	$ 0	$ 0
Restricted cash	5,434,000	4,624,000
Restricted cash obligations	1,400,000	3,900,000
Operating lease right-of-use asset	11,600,000	8,500,000
Operating lease liability	$ 12,488,000	$ 9,200,000
Operating lease, liability, statement of financial position	Accounts payable and accrued liabilities	Accounts payable and accrued liabilities
Operating lease, right-of-use asset, statement of financial position	Accounts receivable, prepaid expenses and other assets, net	Accounts receivable, prepaid expenses and other assets, net
Operating lease, expense	$ 1,400,000	$ 1,200,000	$ 1,200,000
Weighted-average remaining term of operating leases	17 years
Weighted average discount rate	8%
Number of reportable segments \| segment	1
Vandalism And Theft
Accounting Policies [Line Items]
Proceeds of insurance	$ 6,200,000
Gain of unusual amount	3,700,000
Fire
Accounting Policies [Line Items]
Proceeds of insurance	1,100,000
Gain of unusual amount	500,000
Resident fee and services
Accounting Policies [Line Items]
Grants recognized	100,000	$ 100,000	$ 500,000
Loss from unconsolidated joint venture
Accounting Policies [Line Items]
Grants recognized	$ 3,600,000
Minimum \| Land improvements
Accounting Policies [Line Items]
Estimated useful lives of assets	15 years
Minimum \| Buildings and building improvements
Accounting Policies [Line Items]
Estimated useful lives of assets	5 years
Minimum \| Furniture and equipment
Accounting Policies [Line Items]
Estimated useful lives of assets	3 years
Maximum \| Land improvements
Accounting Policies [Line Items]
Estimated useful lives of assets	20 years
Maximum \| Buildings and building improvements
Accounting Policies [Line Items]
Estimated useful lives of assets	45 years
Maximum \| Furniture and equipment
Accounting Policies [Line Items]
Estimated useful lives of assets	10 years
Primary beneficiary
Accounting Policies [Line Items]
Number of variable interest entities \| variableInterestEntity	0

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
2024	$ 1,310
2025	1,802
2026	1,324
2027	1,347
2028	1,330
Thereafter	18,104
Undiscounted minimum lease payments included in the lease liability	25,217
Less: imputed interest	(12,729)
Present value of lease liability	$ 12,488	$ 9,200

RECENT REAL ESTATE ACQUISITIO_3

RECENT REAL ESTATE ACQUISITIONS (CONSOLIDATED) - Narrative (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2023 USD ($) property	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($) property	Dec. 31, 2021 USD ($)
Business Acquisition [Line Items]
Payment for contingent consideration \| $		$ 17,900	$ 2,500	$ 0
Recent Real Estate Acquisitions
Business Acquisition [Line Items]
Total revenues \| $		10,400	11,100
Net income (loss) \| $		$ 700	$ (1,600)
Recent Real Estate Acquisitions \| Tenant origination and absorption costs
Business Acquisition [Line Items]
Weighted-average amortization period of intangible assets		4 years	2 years
Recent Real Estate Acquisitions \| Tenant relationships
Business Acquisition [Line Items]
Weighted-average amortization period of intangible assets		22 years	25 years
Recent Real Estate Acquisitions \| Skilled nursing transitional care facility
Business Acquisition [Line Items]
Number of acquired properties		2
Recent Real Estate Acquisitions \| Senior housing - leased portfolio
Business Acquisition [Line Items]
Number of acquired properties		1
Recent Real Estate Acquisitions \| Senior housing - managed portfolio
Business Acquisition [Line Items]
Number of acquired properties		1	3
Preferred equity investment book value at acquisition \| $		$ 4,600	$ 14,300
Payment for contingent consideration \| $	$ 17,900
Number of properties	2
Recent Real Estate Acquisitions \| Behavioral health facility
Business Acquisition [Line Items]
Number of acquired properties			1
Recent Real Estate Acquisitions \| Senior housing facilities - managed communities, proprietary development pipeline
Business Acquisition [Line Items]
Number of acquired properties			2

RECENT REAL ESTATE ACQUISITIO_4

RECENT REAL ESTATE ACQUISITIONS (CONSOLIDATED)- Purchase Price Allocation for Recent Real Estate Acquisitions (Details) - Recent Real Estate Acquisitions - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Land	$ 6,796	$ 11,767
Building and improvements	79,830	89,646
Total consideration	90,373	106,515
Tenant origination and absorption costs intangible assets
Business Acquisition [Line Items]
Tenant intangible assets	3,492	5,061
Tenant relationship intangible assets
Business Acquisition [Line Items]
Tenant intangible assets	$ 255	$ 41

INVESTMENT IN REAL ESTATE PRO_3

INVESTMENT IN REAL ESTATE PROPERTIES - Real Estate Properties Held for Investment (Details) $ in Thousands	Dec. 31, 2023 USD ($) bed facility	Dec. 31, 2022 USD ($) bed facility
Real Estate Properties [Line Items]
Building and improvements	$ 4,843,258	$ 5,034,470
Furniture and equipment	238,185	262,644
Land improvements	10,306	7,085
Land	546,598	568,489
Total Real Estate at Cost	5,638,347	5,872,688
Accumulated Depreciation	(1,021,086)	(913,345)
Total Real Estate Investments, Net	$ 4,617,261	$ 4,959,343
Operating Segments
Real Estate Properties [Line Items]
Number of Properties \| facility	378	402
Number of Beds/Units \| bed	37,834	39,985
Total Real Estate at Cost	$ 5,635,800	$ 5,871,784
Accumulated Depreciation	(1,020,454)	(912,819)
Total Real Estate Investments, Net	$ 4,615,346	$ 4,958,965
Operating Segments \| Skilled Nursing/Transitional Care
Real Estate Properties [Line Items]
Number of Properties \| facility	241	264
Number of Beds/Units \| bed	26,769	29,136
Total Real Estate at Cost	$ 3,050,861	$ 3,385,221
Accumulated Depreciation	(535,653)	(492,495)
Total Real Estate Investments, Net	$ 2,515,208	$ 2,892,726
Operating Segments \| Senior Housing - Leased
Real Estate Properties [Line Items]
Number of Properties \| facility	43	47
Number of Beds/Units \| bed	3,473	3,550
Total Real Estate at Cost	$ 573,274	$ 590,694
Accumulated Depreciation	(109,601)	(97,716)
Total Real Estate Investments, Net	$ 463,673	$ 492,978
Operating Segments \| Senior Housing - Managed
Real Estate Properties [Line Items]
Number of Properties \| facility	61	59
Number of Beds/Units \| bed	6,041	5,942
Total Real Estate at Cost	$ 1,289,485	$ 1,205,283
Accumulated Depreciation	(255,803)	(222,089)
Total Real Estate Investments, Net	$ 1,033,682	$ 983,194
Operating Segments \| Behavioral Health
Real Estate Properties [Line Items]
Number of Properties \| facility	18	17
Number of Beds/Units \| bed	1,159	965
Total Real Estate at Cost	$ 496,737	$ 465,143
Accumulated Depreciation	(71,943)	(58,481)
Total Real Estate Investments, Net	$ 424,794	$ 406,662
Operating Segments \| Specialty Hospitals and Other
Real Estate Properties [Line Items]
Number of Properties \| facility	15	15
Number of Beds/Units \| bed	392	392
Total Real Estate at Cost	$ 225,443	$ 225,443
Accumulated Depreciation	(47,454)	(42,038)
Total Real Estate Investments, Net	177,989	183,405
Corporate Level
Real Estate Properties [Line Items]
Total Real Estate at Cost	2,547	904
Accumulated Depreciation	(632)	(526)
Total Real Estate Investments, Net	$ 1,915	$ 378

INVESTMENT IN REAL ESTATE PRO_4

INVESTMENT IN REAL ESTATE PROPERTIES - Operating Leases Narrative (Details) $ in Millions		1 Months Ended	12 Months Ended
	Feb. 01, 2022 USD ($)	Jan. 31, 2022 USD ($)	Dec. 31, 2023 USD ($) facility	Dec. 31, 2022 USD ($) facility	Dec. 31, 2021 USD ($)
Real Estate Properties [Line Items]
Weighted-average remaining term of operating leases			17 years
Security deposit liability			$ 16.4	$ 13
Letters of credit deposited			56	57
Tenant deposits for future real estate taxes, insurance expenditures, and tenant improvements			12.4	13.3
Variable lease revenue			$ 15.3	17.7	$ 18
Avamere
Real Estate Properties [Line Items]
Annual base rent	$ 30.7	$ 44.1
Avamere \| Non-cash rent receivable
Real Estate Properties [Line Items]
Write-off of non-cash rent receivable					$ 25.2
North American Health Care, Inc
Real Estate Properties [Line Items]
Write-off of non-cash rent receivable				$ 15.6
Senior housing - managed portfolio
Real Estate Properties [Line Items]
Weighted-average remaining term of operating leases			8 years
Senior housing - managed portfolio \| Minimum
Real Estate Properties [Line Items]
Operating lease expiration period			1 year
Senior housing - managed portfolio \| Maximum
Real Estate Properties [Line Items]
Operating lease expiration period			19 years
Operating Segments
Real Estate Properties [Line Items]
Number of properties \| facility			378	402
Operating Segments \| Senior housing - managed portfolio
Real Estate Properties [Line Items]
Number of properties \| facility			61	59

INVESTMENT IN REAL ESTATE PRO_5

INVESTMENT IN REAL ESTATE PROPERTIES - Future Minimum Rental Payments from Non-Cancelable Operating Leases (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Future minimum rental payments from the Company’s properties held for investment under non-cancelable operating leases:
2024	$ 377,721
2025	372,911
2026	357,434
2027	334,489
2028	310,963
Thereafter	1,289,067
Total	$ 3,042,585

INVESTMENT IN REAL ESTATE PRO_6

INVESTMENT IN REAL ESTATE PROPERTIES - Senior Housing - Managed Communities Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Resident fees and services	$ 236,153	$ 186,672	$ 155,512
Ancillary services
Disaggregation of Revenue [Line Items]
Resident fees and services	$ 2,000	$ 1,500	$ 1,300

INVESTMENT IN REAL ESTATE PRO_7

INVESTMENT IN REAL ESTATE PROPERTIES - Capital and Other Expenditures Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Real Estate [Abstract]
Future capital expenditures	$ 27

INVESTMENT IN REAL ESTATE PRO_8

INVESTMENT IN REAL ESTATE PROPERTIES - Schedule of Investment in Joint Ventures (Details) $ in Thousands, $ in Millions	Dec. 31, 2023 USD ($) property	Dec. 31, 2023 CAD ($) property	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CAD ($)
Schedule of Equity Method Investments [Line Items]
Book value	$ 136,843		$ 134,962
Sienna Joint Venture
Schedule of Equity Method Investments [Line Items]
Ownership	50%	50%
Book value	$ 119,724		120,269
Marlin Spring Joint Venture
Schedule of Equity Method Investments [Line Items]
Ownership	85%	85%
Book value	$ 17,119		$ 14,693
Senior Housing - Managed \| Sienna Joint Venture
Schedule of Equity Method Investments [Line Items]
Book value				$ 161.8
Senior Housing - Managed \| Marlin Spring Joint Venture
Schedule of Equity Method Investments [Line Items]
Book value		$ 6.1		$ 16.6
Senior Housing - Managed \| Sienna Joint Venture
Schedule of Equity Method Investments [Line Items]
Number of properties \| property	12	12
Senior Housing - Managed \| Marlin Spring Joint Venture
Schedule of Equity Method Investments [Line Items]
Number of properties \| property	4	4

INVESTMENT IN REAL ESTATE PRO_9

INVESTMENT IN REAL ESTATE PROPERTIES - Investment in Unconsolidated Joint Venture Narrative (Details) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2022 USD ($) property	Jun. 30, 2021 USD ($)	Dec. 31, 2023 USD ($) property	Dec. 31, 2023 CAD ($)	Dec. 31, 2022 USD ($) property	Dec. 31, 2022 CAD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2023 CAD ($) property	Dec. 31, 2022 CAD ($) property
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated joint ventures	$ 134,962,000		$ 136,843,000		$ 134,962,000
Other-than-temporary impairment of unconsolidated joint ventures			0		57,778,000		$ 164,126,000
Marlin Spring Joint Venture
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated joint ventures	14,693,000		$ 17,119,000		14,693,000
Equity interest in joint venture			85%					85%
Sienna Joint Venture
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated joint ventures	120,269,000		$ 119,724,000		120,269,000
Equity interest in joint venture			50%					50%
Enlivant Joint Venture
Schedule of Equity Method Investments [Line Items]
Equity interest in joint venture		49%
Other-than-temporary impairment of unconsolidated joint ventures	57,800,000	$ 164,100,000	$ 0		$ 57,778,000		$ 164,126,000
Equity interest, investment basis amount	$ 0
Senior Housing - Managed \| Marlin Spring Joint Venture
Schedule of Equity Method Investments [Line Items]
Number of acquired properties \| property	3		1		3			1	3
Payments to acquire buildings				$ 30		$ 82.5
Investment in unconsolidated joint ventures								$ 6.1	$ 16.6
Senior Housing - Managed \| Marlin Spring Joint Venture \| Marlin Spring Joint Venture
Schedule of Equity Method Investments [Line Items]
Debt assumed								$ 23.6	$ 65
Senior Housing - Managed \| Sienna Joint Venture
Schedule of Equity Method Investments [Line Items]
Number of acquired properties \| property	12				12				12
Payments to acquire buildings						$ 379
Investment in unconsolidated joint ventures									$ 161.8
Senior Housing - Managed \| Sienna Joint Venture \| Sienna Senior Living
Schedule of Equity Method Investments [Line Items]
Debt assumed									$ 53.4

INVESTMENT IN REAL ESTATE PR_10

INVESTMENT IN REAL ESTATE PROPERTIES - Summarized Financial Information for Enlivant Joint Venture (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2022	Jun. 30, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Balance Sheet Amounts
Total assets	$ 5,747,672		$ 5,386,150	$ 5,747,672
Total liabilities	2,691,277		2,583,616	2,691,277
Income Statement Amounts
Total revenues			647,514	624,811	$ 569,545
Other-than-temporary impairment			0	57,778	164,126
Loss from unconsolidated joint venture			(2,897)	(98,032)	(192,081)
Enlivant Joint Venture
Income Statement Amounts
Company’s share of net loss			(2,897)	(32,581)	(17,184)
Basis adjustments			0	7,673	10,771
Other-than-temporary impairment	57,800	$ 164,100	0	57,778	164,126
Loss from unconsolidated joint venture			(2,897)	(98,032)	(192,081)
Enlivant Joint Venture
Balance Sheet Amounts
Total assets	754,220		353,779	754,220
Total liabilities	894,969		106,490	894,969
Member’s equity (deficit)	$ (140,749)		247,289	(140,749)
Income Statement Amounts
Total revenues			64,446	351,073	274,693
Operating expenses			47,811	324,462	265,194
Net loss			$ (9,823)	(66,171)	(35,276)
Funding payments beyond contractual requirements				$ 25,000	$ 20,000

INVESTMENT IN REAL ESTATE PR_11

INVESTMENT IN REAL ESTATE PROPERTIES - Net Investment in Sales-Type Lease Narrative (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) property	Dec. 31, 2021 USD ($)
Real Estate Properties [Line Items]
Net proceeds from sales-type lease		$ 25,490	$ 0	$ 0
Skilled Nursing/Transitional Care
Real Estate Properties [Line Items]
Net investment in sales type lease			$ 25,500
Properties in sales-type \| property			1
Net proceeds from sales-type lease	$ 25,500

IMPAIRMENT OF REAL ESTATE AND_3

IMPAIRMENT OF REAL ESTATE AND DISPOSITIONS - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) facility	Dec. 31, 2022 USD ($) facility	Dec. 31, 2021 USD ($) facility
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of real estate \| $	$ 14,332	$ 94,042	$ 9,499
Sold \| Facilities
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties impaired \| facility	3	10	3

IMPAIRMENT OF REAL ESTATE AND_4

IMPAIRMENT OF REAL ESTATE AND DISPOSITIONS - Dispositions (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) facility	Dec. 31, 2022 USD ($) facility	Dec. 31, 2021 USD ($) facility
Dispositions:
Number of facilities \| facility	28	18	16
Consideration, net of closing costs	$ 255.6	$ 87.3	$ 103.4
Net carrying value	332.2	99.3	92.1
Net (loss) gain on sale	(76.6)	(12)	11.3
Net income (loss)	(80.9)	(94.8)	21.5
Impairment upon disposal	$ 7.1	$ 94	$ 9.5
Disposal group, not discontinued operations, gain (loss) on disposal, statement of income	Net (loss) gain on sale

INTANGIBLE ASSETS AND LIABILI_3

INTANGIBLE ASSETS AND LIABILITIES - Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Lease Intangible Assets:
Gross lease intangible assets	$ 67,550	$ 86,193
Accumulated amortization	(36,653)	(46,062)
Lease intangible assets, net	30,897	40,131
Lease Intangible Liabilities:
Below market leases	68,573	80,208
Accumulated amortization	(36,041)	(37,964)
Lease intangible liabilities, net	32,532	42,244
Above market leases
Lease Intangible Assets:
Gross lease intangible assets	7,496	7,496
Tenant origination and absorption costs
Lease Intangible Assets:
Gross lease intangible assets	43,071	58,578
Tenant relationship
Lease Intangible Assets:
Gross lease intangible assets	$ 16,983	$ 20,119

INTANGIBLE ASSETS AND LIABILI_4

INTANGIBLE ASSETS AND LIABILITIES - Real Estate Intangible Amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Real estate intangible amortization income (expense)
Increase (decrease) to rental income related to above/below market leases, net	$ 5,821	$ 6,624	$ (13,512)
Depreciation and amortization related to tenant origination and absorption costs and tenant relationship	$ (11,616)	$ (17,591)	(8,694)
Avamere \| Above market leases
Real estate intangible amortization income (expense)
Accelerated amortization			$ 18,600

INTANGIBLE ASSETS AND LIABILI_5

INTANGIBLE ASSETS AND LIABILITIES - Remaining Unamortized Balance for Outstanding Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Lease Intangible Assets
2023	$ 5,523
2024	4,612
2025	4,411
2026	3,115
2027	2,662
Thereafter	10,574
Lease intangible assets, net	$ 30,897	$ 40,131
Weighted-average remaining amortization period	8 years 9 months 18 days
Lease Intangible Liabilities
2023	$ 5,690
2024	5,139
2025	4,884
2026	4,442
2027	4,296
Thereafter	8,081
Lease intangible liabilities, net	$ 32,532	$ 42,244
Weighted-average remaining amortization period	6 years 6 months

LOANS RECEIVABLE AND OTHER IN_3

LOANS RECEIVABLE AND OTHER INVESTMENTS - Composition of Loans Receivable and Other Investments (Details) $ in Thousands	Dec. 31, 2023 USD ($) investment loan preferredEquityInvestment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Loans Receivable:
Quantity \| loan	14
Principal balance	$ 372,873	$ 370,364
Book Value	369,440	366,936
Allowance for loan losses	(6,665)	(6,611)	$ (6,344)	$ (2,458)
Book Value	$ 362,775	360,325
Weighted Average Contractual Interest Rate / Rate of Return	7.70%
Weighted Average Annualized Effective Interest Rate / Rate of Return	7.60%
Other Investments:
Quantity \| preferredEquityInvestment	5
Principal Balance	$ 57,681	50,902
Book Value	$ 57,849	51,071
Weighted Average Contractual Interest Rate / Rate of Return	11%
Weighted Average Annualized Effective Interest Rate / Rate of Return	11%
Total Quantity \| investment	19
Total Principal Balance	$ 430,554
Total Book Value	$ 420,624	411,396
Total weighted average contractual interest rate / rate of return	8.10%
Total weighted average annualized effective interest rate / rate of return	8.10%
Mortgage
Loans Receivable:
Quantity \| loan	2
Principal balance	$ 319,000
Book Value	$ 319,000	319,000
Weighted Average Contractual Interest Rate / Rate of Return	7.60%
Weighted Average Annualized Effective Interest Rate / Rate of Return	7.60%
Other
Loans Receivable:
Quantity \| loan	12
Principal balance	$ 53,873
Book Value	$ 50,440	$ 47,936
Weighted Average Contractual Interest Rate / Rate of Return	7.70%
Weighted Average Annualized Effective Interest Rate / Rate of Return	7.40%

LOANS RECEIVABLE AND OTHER IN_4

LOANS RECEIVABLE AND OTHER INVESTMENTS - Narrative (Details) - Future funding on investment $ in Millions	Dec. 31, 2023 USD ($) investment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Future funding commitment \| $	$ 0.5
Number of preferred equity investments for funding commitment \| investment	1

LOANS RECEIVABLE AND OTHER IN_5

LOANS RECEIVABLE AND OTHER INVESTMENTS - Schedule of Additional Information Regarding the Company's Loans Receivable (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) loan	Dec. 31, 2022 USD ($) loan	Dec. 31, 2021 USD ($)
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at the beginning of the year	$ 6,611	$ 6,344	$ 2,458
Provision for loan losses	192	267	3,886
Write-off of uncollectible balances	(138)	0	0
Balance at the end of the year	6,665	6,611	$ 6,344
Accounts, Notes, Loans and Financing Receivable [Line Items]
Principal balance	372,873	370,364
Book value	$ 362,775	$ 360,325
Nonaccrual status
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans receivable investments \| loan	3	3
Book value	$ 0	$ 0
Deteriorated credit quality
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans receivable investments \| loan	1	1
Principal balance	$ 1,214	$ 1,214
Book value	$ 0	$ 0

DEBT - Secured Indebtedness (De

DEBT - Secured Indebtedness (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Deferred financing costs	$ 17,401
Secured Debt
Debt Instrument [Line Items]
Deferred financing costs	842	$ 900
Secured Debt \| Fixed Rate
Debt Instrument [Line Items]
Principal balance	$ 48,143	$ 50,123
Weighted average interest rate (percent)	2.85%
Weighted average effective interest rate (percent)	3.34%

DEBT - Secured Indebtedness Nar

DEBT - Secured Indebtedness Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) facility	Dec. 31, 2021 USD ($) facility
Debt Instrument [Line Items]
Repayments of fixed rate secured debt	$ 1,979	$ 17,516	$ 12,661
Loss on extinguishment of debt	$ 1,541	411	34,622
Secured Indebtedness
Debt Instrument [Line Items]
Repayments of fixed rate secured debt		$ 15,400	$ 9,800
Number of properties sold securing debt \| facility		3	2
Loss on extinguishment of debt			$ 100

DEBT - Senior Unsecured Notes (

DEBT - Senior Unsecured Notes (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2021	Oct. 07, 2019	Aug. 17, 2017
Debt Instrument [Line Items]
Discount, net	$ 4,258
Deferred financing costs	17,401
Senior Notes
Debt Instrument [Line Items]
Principal balance	1,750,000	$ 1,750,000
Discount, net	4,258	3,500
Deferred financing costs	$ 10,489	12,000
Weighted average effective interest rate (percent)	4.01%
Senior Notes \| 5.125% senior unsecured notes due 2026
Debt Instrument [Line Items]
Interest rate	5.125%				5.125%
Principal balance	$ 500,000	500,000
Senior Notes \| 5.88% senior unsecured notes due 2027
Debt Instrument [Line Items]
Interest rate	5.88%				5.88%
Principal balance	$ 100,000	100,000
Senior Notes \| 3.90% senior unsecured notes due 2029
Debt Instrument [Line Items]
Interest rate	3.90%			3.90%
Principal balance	$ 350,000	350,000
Senior Notes \| 3.20% senior unsecured notes due 2031
Debt Instrument [Line Items]
Interest rate	3.20%		3.20%
Principal balance	$ 800,000	$ 800,000

DEBT - Senior Unsecured Notes N

DEBT - Senior Unsecured Notes Narrative (Details) - USD ($)						12 Months Ended
DEBT - Senior Unsecured Notes Narrative (Details) - USD ($)	Oct. 07, 2021	Sep. 30, 2021	Oct. 07, 2019	May 29, 2019	Aug. 17, 2017	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Proceeds from issuance of senior unsecured notes						$ 0	$ 0	$ 791,520,000
Loss on extinguishment of debt						1,541,000	411,000	34,622,000
Payments made to noteholders and legal fees for early redemption						0	0	30,196,000
Repayment of term loans						0	63,750,000	$ 455,000,000
Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount						$ 1,750,000,000	$ 1,750,000,000
Senior Notes \| 4.80% senior unsecured notes due 2024
Debt Instrument [Line Items]
Interest rate				4.80%
Aggregate principal amount				$ 300,000,000
Proceeds from issuance of senior unsecured notes				$ 295,300,000
Aggregate principal amount redeemed	$ 300,000,000
Redemption price (percent)	110.045%
Loss on extinguishment of debt	$ 32,700,000
Write-offs associated with unamortized discount and deferred financing costs	2,500,000
Payments made to noteholders and legal fees for early redemption	$ 30,200,000
Senior Notes \| 5.125% senior unsecured notes due 2026
Debt Instrument [Line Items]
Interest rate					5.125%	5.125%
Aggregate principal amount					$ 500,000,000
Redemption price (percent)					100%
Debt covenant, consolidated unencumbered total asset value to aggregate principal of unsecured debt						150%
Senior Notes \| 5.88% senior unsecured notes due 2027
Debt Instrument [Line Items]
Interest rate					5.88%	5.88%
Aggregate principal amount					$ 100,000,000
Redemption price (percent)					100%
Senior Notes \| 3.90% senior unsecured notes due 2029
Debt Instrument [Line Items]
Interest rate			3.90%			3.90%
Aggregate principal amount			$ 350,000,000
Proceeds from issuance of senior unsecured notes			$ 340,500,000
Debt covenant, consolidated unencumbered total asset value to aggregate principal of unsecured debt						150%
Senior Notes \| 3.90% senior unsecured notes due 2029 \| Redemption Period One
Debt Instrument [Line Items]
Redemption price (percent)			100%
Senior Notes \| 3.90% senior unsecured notes due 2029 \| Redemption Period Two
Debt Instrument [Line Items]
Redemption price (percent)			100%
Senior Notes \| 5.375% senior unsecured notes due 2023
Debt Instrument [Line Items]
Interest rate			5.375%
Aggregate principal amount redeemed			$ 200,000,000
Senior Notes \| 3.20% senior unsecured notes due 2031
Debt Instrument [Line Items]
Interest rate		3.20%				3.20%
Aggregate principal amount		$ 800,000,000
Proceeds from issuance of senior unsecured notes		$ 782,200,000
Debt covenant, consolidated unencumbered total asset value to aggregate principal of unsecured debt						150%
Senior Notes \| 3.20% senior unsecured notes due 2031 \| Redemption Period One
Debt Instrument [Line Items]
Redemption price (percent)		100%
Senior Notes \| 3.20% senior unsecured notes due 2031 \| Redemption Period Two
Debt Instrument [Line Items]
Redemption price (percent)		100%
U.S. dollar Term Loans
Debt Instrument [Line Items]
Repayment of term loans		$ 345,000,000

DEBT - Credit Agreement Narrati

DEBT - Credit Agreement Narrative (Details)		12 Months Ended
DEBT - Credit Agreement Narrative (Details)	Jan. 04, 2023 USD ($) extensionOption	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2023 CAD ($)	Jan. 04, 2023 CAD ($) extensionOption	Sep. 09, 2019 USD ($)	Sep. 09, 2019 CAD ($)
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 1,541,000	$ 411,000	$ 34,622,000
Revolving credit facility		94,429,000	196,982,000
Fifth Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Deferred financing costs		18,100,000
Fifth Amended and Restated Credit Agreement \| U.S. dollar Term Loans
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 1,500,000	$ 400,000	$ 1,800,000
Financial liabilities	$ 430,000,000						$ 436,300,000
Interest rate		6.73%			6.73%
Weighted average effective interest rate (percent)		3.94%			3.94%
Fifth Amended and Restated Credit Agreement \| U.S. dollar Term Loans \| Interest rate swaps
Debt Instrument [Line Items]
Financial liabilities		$ 430,000,000
Fixed interest rate under swap		2.69%			2.69%
Fifth Amended and Restated Credit Agreement \| U.S. dollar Term Loans \| Base Rate \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0%	0%
Fifth Amended and Restated Credit Agreement \| U.S. dollar Term Loans \| Base Rate \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	0.65%	0.65%
Fifth Amended and Restated Credit Agreement \| U.S. dollar Term Loans \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		0.85%
Fifth Amended and Restated Credit Agreement \| U.S. dollar Term Loans \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate		1.65%
Fifth Amended and Restated Credit Agreement \| U.S. dollar Term Loans \| SOFR \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.85%
Fifth Amended and Restated Credit Agreement \| U.S. dollar Term Loans \| SOFR \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.65%
Fifth Amended and Restated Credit Agreement \| Canadian dollar Term Loan
Debt Instrument [Line Items]
Financial liabilities						$ 150,000,000		$ 125,000,000
Interest rate		6.71%			6.71%
Weighted average effective interest rate (percent)		2.88%			2.88%
Fifth Amended and Restated Credit Agreement \| Canadian dollar Term Loan \| Interest rate swaps
Debt Instrument [Line Items]
Financial liabilities					$ 150,000,000
Fixed interest rate under swap		1.63%			1.63%
Fifth Amended and Restated Credit Agreement \| Canadian dollar Term Loan \| CDOR \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.85%	0.85%
Fifth Amended and Restated Credit Agreement \| Canadian dollar Term Loan \| CDOR \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.65%	1.65%
Line of Credit \| Fifth Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Borrowing capacity	$ 2,750,000,000						2,750,000,000
Revolving Credit Facility \| Fifth Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Borrowing capacity	$ 1,000,000,000						1,000,000,000
Basis spread on variable rate	1%
Borrowing capacity in certain foreign currencies	$ 350,000,000						$ 175,000,000
Number of extension options \| extensionOption	2					2
Extension period	6 months
Revolving credit facility		$ 94,400,000			$ 44,300,000
Available borrowing capacity		$ 905,600,000
Interest rate		6.57%			6.57%
Revolving Credit Facility \| Fifth Amended and Restated Credit Agreement \| Minimum
Debt Instrument [Line Items]
Annum percent unused borrowing fee	0.125%	0.125%
Revolving Credit Facility \| Fifth Amended and Restated Credit Agreement \| Maximum
Debt Instrument [Line Items]
Annum percent unused borrowing fee	0.30%	0.30%
Revolving Credit Facility \| Fifth Amended and Restated Credit Agreement \| Prime Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%	0.50%
Revolving Credit Facility \| Fifth Amended and Restated Credit Agreement \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	1%	1%
Revolving Credit Facility \| Fifth Amended and Restated Credit Agreement \| Base Rate \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0%	0%
Revolving Credit Facility \| Fifth Amended and Restated Credit Agreement \| Base Rate \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	0.45%	0.45%
Revolving Credit Facility \| Fifth Amended and Restated Credit Agreement \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		0.775%
Revolving Credit Facility \| Fifth Amended and Restated Credit Agreement \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate		1.45%
Revolving Credit Facility \| Fifth Amended and Restated Credit Agreement \| SOFR \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.775%
Revolving Credit Facility \| Fifth Amended and Restated Credit Agreement \| SOFR \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.45%

DEBT - Interest Expense Narrati

DEBT - Interest Expense Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Interest expense	$ 112,964	$ 105,471	$ 98,632
Non-cash interest expense	12,265	11,094	$ 8,368
Accrued interest	$ 16,500	$ 18,200

DEBT - Schedule of Maturities f

DEBT - Schedule of Maturities for Outstanding Debt (Details) $ in Thousands	Jan. 04, 2023 extensionOption	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
2024		$ 2,033
2025		2,089
2026		502,147
2027		196,635
2028		545,456
Thereafter		1,187,402
Total Debt		2,435,762
Discount, net		(4,258)
Deferred financing costs, net		(17,401)
Total Debt, Net		2,414,103
Revolving Credit Facility \| Fifth Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Number of extension options \| extensionOption	2
Extension period	6 months
Secured Indebtedness
Debt Instrument [Line Items]
2024		2,033
2025		2,089
2026		2,147
2027		2,206
2028		2,266
Thereafter		37,402
Total Debt		48,143
Discount, net		0
Deferred financing costs, net		(842)	$ (900)
Total Debt, Net		47,301
Line of Credit
Debt Instrument [Line Items]
2024		0
2025		0
2026		0
2027		94,429
2028		0
Thereafter		0
Total Debt		94,429
Discount, net		0
Deferred financing costs, net		0
Total Debt, Net		94,429
Term Loans
Debt Instrument [Line Items]
2024		0
2025		0
2026		0
2027		0
2028		543,190
Thereafter		0
Total Debt		543,190
Discount, net		0
Deferred financing costs, net		(6,070)
Total Debt, Net		537,120
Senior Notes
Debt Instrument [Line Items]
2024		0
2025		0
2026		500,000
2027		100,000
2028		0
Thereafter		1,150,000
Total Debt		1,750,000
Discount, net		(4,258)	(3,500)
Deferred financing costs, net		(10,489)	$ (12,000)
Total Debt, Net		$ 1,735,253

DERIVATIVE AND HEDGING INSTRU_3

DERIVATIVE AND HEDGING INSTRUMENTS - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Fair value of derivatives in a net liability position	$ 0	$ 0
Credit risk-related contingent features
Derivative [Line Items]
Fair value of derivatives in a net liability position	0
Designated as Hedging Instrument
Derivative [Line Items]
Fair value of derivatives in a net liability position	146,619,000	243,270,000
Not Designated as Hedging Instrument \| Cross currency interest rate swaps
Derivative [Line Items]
Other expense related to derivatives	18,000	100,000	$ 22,000
Cash Flow Hedges \| Interest rate swaps
Derivative [Line Items]
Ineffectiveness on cash flow hedges	0	$ 0	$ 0
Cash Flow Hedges \| Designated as Hedging Instrument
Derivative [Line Items]
Gains included in accumulated other comprehensive income expected to be reclassified into retained earnings in the next 12 months	$ 6,900,000

DERIVATIVE AND HEDGING INSTRU_4

DERIVATIVE AND HEDGING INSTRUMENTS - Notional Amounts of Derivative Instruments (Details)	Dec. 31, 2023 USD ($) derivative	Dec. 31, 2023 CAD ($) derivative	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CAD ($)
Cash Flow Hedges \| Designated as Hedging Instrument \| Cross currency interest rate swaps
Derivative [Line Items]
Notional amount	$ 753,750,000	$ 300,000,000	$ 436,250,000	$ 125,000,000
Cash Flow Hedges \| Designated as Hedging Instrument \| Interest rate swaps
Derivative [Line Items]
Number of derivative instruments held \| derivative	2	2
Cash Flow Hedges \| Designated as Hedging Instrument \| Interest Rate Swap One
Derivative [Line Items]
Notional amount	$ 323,800,000
Cash Flow Hedges \| Designated as Hedging Instrument \| Interest Rate Swap Two
Derivative [Line Items]
Notional amount		$ 150,000,000
Net Investment Hedges \| Designated as Hedging Instrument
Derivative [Line Items]
Notional amount		194,300,000		329,500,000
Net Investment Hedges \| Designated as Hedging Instrument \| Cross currency interest rate swaps
Derivative [Line Items]
Notional amount		55,335,000		55,991,000
Net Investment Hedges \| Not Designated as Hedging Instrument \| Cross currency interest rate swaps
Derivative [Line Items]
Notional amount		$ 965,000		$ 309,000

DERIVATIVE AND HEDGING INSTRU_5

DERIVATIVE AND HEDGING INSTRUMENTS - Summary of Derivative and Financial Instruments Designated as Hedging Instruments (Details) $ in Thousands	Dec. 31, 2023 USD ($) instrument	Dec. 31, 2022 USD ($)
Assets:
Fair Value	$ 18,918	$ 21,477
Liabilities:
Fair value	$ 0	$ 0
Derivative liability, statement of financial position	Revolving credit facility, Term loans, net	Revolving credit facility, Term loans, net
Derivative asset, statement of financial position	Accounts receivable, prepaid expenses and other assets, net	Accounts receivable, prepaid expenses and other assets, net
Designated as Hedging Instrument
Assets:
Fair Value	$ 18,918	$ 21,477
Liabilities:
Fair value	$ 146,619	243,270
Designated as Hedging Instrument \| Interest rate swaps \| Cash flow
Assets:
Count \| instrument	5
Fair Value	$ 6,002	11,004
Designated as Hedging Instrument \| Interest rate collars \| Cash flow
Assets:
Count \| instrument	2
Fair Value		6,622
Designated as Hedging Instrument \| Forward starting interest rate swaps \| Cash flow
Assets:
Count \| instrument	4
Fair Value	$ 6,736	0
Designated as Hedging Instrument \| Cross currency interest rate swaps \| Net investment
Assets:
Count \| instrument	2
Fair Value	$ 2,964	3,851
Designated as Hedging Instrument \| Currency Swap \| Net investment \| Revolving credit facility
Liabilities:
Count \| instrument	1
Fair value	$ 33,429	150,982
Designated as Hedging Instrument \| Currency Swap \| Net investment \| Term loans, net
Liabilities:
Count \| instrument	1
Fair value	$ 113,190	$ 92,288

DERIVATIVE AND HEDGING INSTRU_6

DERIVATIVE AND HEDGING INSTRUMENTS - Effect of Derivative Financial Instruments on the Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Equity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive income (loss)	$ 6,531	$ 39,869	$ 16,798
Loss reclassified accumulated other comprehensive income (loss) into income	8,332	(4,179)	(12,774)
Interest rate products
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive income (loss), cash flow hedges	13,116	22,032	17,408
Loss reclassified accumulated other comprehensive income (loss) into income, cash flow hedge	8,332	(4,179)	(12,774)
Foreign currency products
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive income (loss), net investment hedges	(664)	2,233	(272)
Loss reclassified accumulated other comprehensive income (loss) into income, net investment hedges	0	0	0
Currency Swap
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive income (loss), net investment hedges	(2,465)	6,150	(338)
Loss reclassified accumulated other comprehensive income (loss) into income, net investment hedges	0	0	0
Currency Swap \| Revolving Credit Facility
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive income (loss), net investment hedges	(3,456)	9,454	0
Loss reclassified accumulated other comprehensive income (loss) into income, net investment hedges	$ 0	$ 0	$ 0

DERIVATIVE AND HEDGING INSTRU_7

DERIVATIVE AND HEDGING INSTRUMENTS - Gross Presentation, Effects of Offsetting, and a Net Presentation of Derivatives (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Offsetting Assets:
Gross Amounts of Recognized Assets	$ 18,918	$ 21,477
Gross Amounts Offset in the Balance Sheet	0	0
Net Amounts of Assets presented in the Balance Sheet	18,918	21,477
Financial Instruments	0	0
Cash Collateral Received	0	0
Net Amount	18,918	21,477
Offsetting Liabilities:
Gross Amounts of Recognized Liabilities	0	0
Gross Amounts Offset in the Balance Sheet	0	0
Net Amounts of Liabilities presented in the Balance Sheet	0	0
Financial Instruments	0	0
Cash Collateral Received	0	0
Net Amount	$ 0	$ 0

FAIR VALUE DISCLOSURES - Narrat

FAIR VALUE DISCLOSURES - Narrative (Details) - Discount Rate	Dec. 31, 2023
Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans receivable, measurement input	0.06
Preferred equity investments, measurement input	0.10
Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans receivable, measurement input	0.15
Preferred equity investments, measurement input	0.15
Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans receivable, measurement input	0.06
Preferred equity investments, measurement input	0.11
Secured Indebtedness \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Debt, measurement input	0.06

FAIR VALUE DISCLOSURES - Face V

FAIR VALUE DISCLOSURES - Face Values, Carrying Amounts and Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financial assets:
Loans receivable	$ 372,873	$ 370,364
Preferred equity investments	57,681	50,902
Senior Notes
Financial liabilities:
Financial liabilities	1,750,000	1,750,000
Secured Indebtedness
Financial liabilities:
Financial liabilities	48,143	50,123
Carrying Amount
Financial assets:
Loans receivable	362,775	360,325
Preferred equity investments	57,849	51,071
Carrying Amount \| Senior Notes
Financial liabilities:
Financial liabilities	1,735,253	1,734,431
Carrying Amount \| Secured Indebtedness
Financial liabilities:
Financial liabilities	47,301	49,232
Fair Value
Financial assets:
Loans receivable	383,141	370,188
Preferred equity investments	59,526	51,995
Fair Value \| Senior Notes
Financial liabilities:
Financial liabilities	1,567,428	1,463,041
Fair Value \| Secured Indebtedness
Financial liabilities:
Financial liabilities	$ 36,279	$ 38,149

FAIR VALUE DISCLOSURES - Fair V

FAIR VALUE DISCLOSURES - Fair Value of Financial Instruments (Details) - Recurring $ in Thousands	Dec. 31, 2023 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	$ 383,141
Preferred equity investments	59,526
Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	1,567,428
Secured Indebtedness
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	36,279
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	0
Preferred equity investments	0
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Secured Indebtedness
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	0
Preferred equity investments	0
Significant Other Observable Inputs (Level 2) \| Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	1,567,428
Significant Other Observable Inputs (Level 2) \| Secured Indebtedness
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable	383,141
Preferred equity investments	59,526
Significant Unobservable Inputs (Level 3) \| Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	0
Significant Unobservable Inputs (Level 3) \| Secured Indebtedness
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial liabilities	$ 36,279

FAIR VALUE DISCLOSURES - Items

FAIR VALUE DISCLOSURES - Items Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	$ 18,918	$ 21,477
Recurring \| Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	6,002
Recurring \| Interest rate collars
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	3,216
Recurring \| Forward starting interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	6,736
Recurring \| Cross currency interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	2,964
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Interest rate collars
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Forward starting interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0
Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Cross currency interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0
Recurring \| Significant Other Observable Inputs (Level 2) \| Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	6,002
Recurring \| Significant Other Observable Inputs (Level 2) \| Interest rate collars
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	3,216
Recurring \| Significant Other Observable Inputs (Level 2) \| Forward starting interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	6,736
Recurring \| Significant Other Observable Inputs (Level 2) \| Cross currency interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	2,964
Recurring \| Significant Unobservable Inputs (Level 3) \| Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0
Recurring \| Significant Unobservable Inputs (Level 3) \| Interest rate collars
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0
Recurring \| Significant Unobservable Inputs (Level 3) \| Forward starting interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	0
Recurring \| Significant Unobservable Inputs (Level 3) \| Cross currency interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets	$ 0

EQUITY - Narrative (Details)

EQUITY - Narrative (Details) - USD ($)					10 Months Ended	12 Months Ended
EQUITY - Narrative (Details) - USD ($)	Feb. 23, 2023	Oct. 15, 2021	Aug. 06, 2021	Dec. 11, 2019	Nov. 09, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Tax withholding obligations incurred on behalf of employees						$ 1,800,000	$ 3,300,000	$ 2,100,000
Restricted Stock Units
Class of Stock [Line Items]
Shares issued upon vesting (in shares)						300,000	600,000	200,000
2019 ATM Program
Class of Stock [Line Items]
Aggregate gross proceeds possible from sales of common stock under equity offering program				$ 400,000,000
Shares issued (in shares)								2,200,000
Average price per share (in dollars per share)								$ 17.78
Proceeds from issuance of common stock								$ 38,800,000
Payments for stock issuance commissions								$ 600,000
2019 ATM Program - Forward Feature
Class of Stock [Line Items]
Shares issued (in shares)								7,900,000
Proceeds from issuance of common stock								$ 137,000,000
Shares allowed for forward feature of ATM Program (in shares)								6,800,000
Initial weighted average price (in dollars per share)								$ 17.49
2019 ATM Program - Forward Feature \| Weighted Average
Class of Stock [Line Items]
Average price per share (in dollars per share)								$ 17.36
Prior ATM Program
Class of Stock [Line Items]
Aggregate gross proceeds possible from sales of common stock under equity offering program			$ 500,000,000
Shares issued (in shares)								0
Prior ATM Program - Forward Feature
Class of Stock [Line Items]
Shares issued (in shares)					0			1,700,000
Average price per share (in dollars per share)								$ 14.23
Proceeds from issuance of common stock								$ 24,200,000
Shares allowed for forward feature of ATM Program (in shares)								1,700,000
Initial weighted average price (in dollars per share)								$ 14.56
Underwritten Public Offering
Class of Stock [Line Items]
Shares issued (in shares)		7,800,000
Proceeds from issuance of common stock		$ 112,600,000
Price per share (in dollars per share)		$ 14.40
ATM Program
Class of Stock [Line Items]
Aggregate gross proceeds possible from sales of common stock under equity offering program	$ 500,000,000
Shares issued (in shares)						0
Forward sale agreement term	1 year
Amount available for issuance						$ 500,000,000

EQUITY - Accumulated Other Comp

EQUITY - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	$ 2,802,534	$ 3,056,395	$ 3,379,530	$ 3,409,228
Total accumulated other comprehensive income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	23,745	19,063	$ (10,021)	$ (39,911)
Foreign currency translation gain
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	963	1,168
Unrealized gain on cash flow hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	$ 22,782	$ 17,895

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total fair value of units vested	$ 9,100	$ 5,700	$ 15,900
Stock-based compensation expense	7,917	7,453	7,914
Total unrecognized stock-based compensation expense	$ 25,700
Weighted average period for recognition of stock-based compensation expense	2 years 8 months 12 days
Discretionary matching contribution (percent)	4%
Matching contributions	$ 300	$ 300	$ 300
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock convertible upon each performance-based restricted stock unit vesting (in shares)	1
Weighted average remaining vesting period	2 years 8 months 12 days
Weighted average fair value per share at grant date (in dollars per share)	$ 14.73	$ 12.78	$ 15.55
Restricted Stock Units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Restricted Stock Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years
FFO Units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	0%
FFO Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	200%
TSR Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Historical volatility rate period	3 years
TSR Units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	0%
TSR Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	200%

STOCK-BASED COMPENSATION - Rest

STOCK-BASED COMPENSATION - Restricted Stock Units Activity (Details) - Restricted Stock Units - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restricted Stock Units
Unvested, beginning (in shares)	2,147,784
Granted (in shares)	832,308
Vested (in shares)	(591,745)
Dividends reinvested (in shares)	237,195
Cancelled/forfeited (in shares)	(156,275)
Unvested, ending (in shares)	2,469,267	2,147,784
Weighted Average Grant Date Fair Value Per Unit
Unvested, beginning (in dollars per share)	$ 15.07
Granted (in dollars per share)	14.73	$ 12.78	$ 15.55
Vested (in dollars per share)	15.34
Dividends reinvested (in dollars per share)	14.96
Cancelled/forfeited (in dollars per share)	19.51
Unvested, ending (in dollars per share)	$ 14.61	$ 15.07

STOCK-BASED COMPENSATION - Assu

STOCK-BASED COMPENSATION - Assumptions Used in Total Stockholder Return-Based Stock Units Valuation (Details) - TSR Units	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Assumptions used in valuation
Risk free interest rate, minimum	3.98%	0.99%	0.17%
Risk free interest rate, maximum	4.13%	4.13%	0.99%
Expected stock price volatility, minimum	30.17%	53.60%	53.17%
Expected stock price volatility, maximum	56.11%	56.11%	53.60%
Expected service period	3 years
Expected dividend yield (assuming full reinvestment)	0%	0%	0%
Maximum
Assumptions used in valuation
Expected service period		3 years	3 years

INCOME TAXES - Provision for In

INCOME TAXES - Provision for Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Provision for federal, state and local income taxes	$ 2,002	$ 1,234	$ 2,263
Provision (benefit) for foreign income taxes	0	8	(418)
Income tax expense	$ 2,002	$ 1,242	$ 1,845

INCOME TAXES - Deferred Taxes (

INCOME TAXES - Deferred Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax (liabilities):
Deferred taxes, net	$ 0	$ 0
Federal
Deferred tax assets:
Deferred tax assets	9,553	6,390
Valuation allowance	(9,553)	(6,390)
Foreign
Deferred tax assets:
Deferred tax assets	12,211	8,455
Valuation allowance	(12,169)	(8,430)
Deferred tax (liabilities):
Deferred tax (liabilities)	$ (42)	$ (25)

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Interest and penalties from significant uncertain tax positions	$ 0	$ 0	$ 0

EARNINGS PER COMMON SHARE - Com

EARNINGS PER COMMON SHARE - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator
Net income (loss)	$ 13,756	$ (77,605)	$ (113,256)
Denominator
Basic weighted average common shares and common equivalents (in shares)	231,203,391	230,947,895	219,073,027
Dilutive restricted stock units (in shares)	1,589,387	0	0
Diluted weighted average common shares (in shares)	232,792,778	230,947,895	219,073,027
Net income (loss), per:
Basic common share (in dollars per share)	$ 0.06	$ (0.34)	$ (0.52)
Diluted common share (in dollars per share)	$ 0.06	$ (0.34)	$ (0.52)

EARNINGS PER COMMON SHARE - Nar

EARNINGS PER COMMON SHARE - Narrative (Details) - shares	12 Months Ended
EARNINGS PER COMMON SHARE - Narrative (Details) - shares	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities not included in computation of diluted earnings per share (in shares)	500	900,000	1,000,000
Forward Equity Sale Agreements
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities not included in computation of diluted earnings per share (in shares)		25,000

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - $ / shares		12 Months Ended
SUBSEQUENT EVENTS (Details) - $ / shares	Feb. 01, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Subsequent Event
Quarterly cash dividend declared on common stock (in dollars per share)		$ 1.20	$ 1.20	$ 1.20
Subsequent event
Subsequent Event
Quarterly cash dividend declared on common stock (in dollars per share)	$ 0.30

SCHEDULE III - REAL ESTATE AS_2

SCHEDULE III - REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION - Summary of Real Estate Properties (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Real Estate and Accumulated Depreciation
Encumbrances	$ 48,143
Initial Cost to Company
Land	546,940
Buildings and Improvements	4,831,080
Total	5,378,020
Cost Capitalized Subsequent to Acquisition	234,491
Gross Amount at which Carried at Close of Period
Land	546,598
Building and Improvements	5,091,749
Total	5,638,347	$ 5,872,688	$ 5,994,208	$ 5,966,695
Accumulated Depreciation and Amortization	(1,021,086)	(913,345)	$ (831,324)	$ (681,657)
Deferred financing costs, net	17,401
Aggregate cost of real estate for federal income tax purposes	4,700,000
Secured Debt
Gross Amount at which Carried at Close of Period
Deferred financing costs, net	842	$ 900
Operating Segments
Real Estate and Accumulated Depreciation
Encumbrances	48,143
Initial Cost to Company
Land	546,940
Buildings and Improvements	4,830,944
Total	5,377,884
Cost Capitalized Subsequent to Acquisition	232,080
Gross Amount at which Carried at Close of Period
Land	546,598
Building and Improvements	5,089,202
Total	5,635,800
Accumulated Depreciation and Amortization	(1,020,454)
Corporate Assets
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	0
Buildings and Improvements	136
Total	136
Cost Capitalized Subsequent to Acquisition	2,411
Gross Amount at which Carried at Close of Period
Land	0
Building and Improvements	2,547
Total	2,547
Accumulated Depreciation and Amortization	(632)
Skilled Nursing/Transitional Care
Real Estate and Accumulated Depreciation
Encumbrances	24,051
Initial Cost to Company
Land	328,000
Buildings and Improvements	2,663,453
Total	2,991,453
Cost Capitalized Subsequent to Acquisition	91,777
Gross Amount at which Carried at Close of Period
Land	325,583
Building and Improvements	2,725,278
Total	3,050,861
Accumulated Depreciation and Amortization	(535,653)
Skilled Nursing/Transitional Care \| Bedford, NH
Real Estate and Accumulated Depreciation
Encumbrances	5,006
Initial Cost to Company
Land	1,911
Buildings and Improvements	12,245
Total	14,156
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,911
Building and Improvements	10,546
Total	12,457
Accumulated Depreciation and Amortization	$ (5,272)
Life on Which Depreciation in Latest Income Statement is Computed	36 years
Skilled Nursing/Transitional Care \| Milford, NH
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	312
Buildings and Improvements	1,679
Total	1,991
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	312
Building and Improvements	1,168
Total	1,480
Accumulated Depreciation and Amortization	$ (986)
Life on Which Depreciation in Latest Income Statement is Computed	20 years
Skilled Nursing/Transitional Care \| North Conway, NH
Real Estate and Accumulated Depreciation
Encumbrances	$ 10,337
Initial Cost to Company
Land	417
Buildings and Improvements	5,352
Total	5,769
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	417
Building and Improvements	4,374
Total	4,791
Accumulated Depreciation and Amortization	$ (2,006)
Life on Which Depreciation in Latest Income Statement is Computed	43 years
Skilled Nursing/Transitional Care \| Wolfeboro, NH
Real Estate and Accumulated Depreciation
Encumbrances	$ 8,708
Initial Cost to Company
Land	454
Buildings and Improvements	4,531
Total	4,985
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	454
Building and Improvements	3,747
Total	4,201
Accumulated Depreciation and Amortization	$ (1,669)
Life on Which Depreciation in Latest Income Statement is Computed	41 years
Skilled Nursing/Transitional Care \| Middletown, DE
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,650
Buildings and Improvements	21,730
Total	23,380
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,650
Building and Improvements	21,730
Total	23,380
Accumulated Depreciation and Amortization	$ (7,574)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Dover, DE
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	4,940
Buildings and Improvements	15,500
Total	20,440
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	4,940
Building and Improvements	15,500
Total	20,440
Accumulated Depreciation and Amortization	$ (5,676)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Wilmington, DE
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,460
Buildings and Improvements	25,240
Total	27,700
Cost Capitalized Subsequent to Acquisition	12,436
Gross Amount at which Carried at Close of Period
Land	2,460
Building and Improvements	37,676
Total	40,136
Accumulated Depreciation and Amortization	$ (9,841)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Millsboro, DE
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,640
Buildings and Improvements	22,620
Total	24,260
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,632
Building and Improvements	22,620
Total	24,252
Accumulated Depreciation and Amortization	$ (8,095)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Warrington, PA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,617
Buildings and Improvements	11,662
Total	14,279
Cost Capitalized Subsequent to Acquisition	395
Gross Amount at which Carried at Close of Period
Land	2,617
Building and Improvements	288
Total	2,905
Accumulated Depreciation and Amortization	$ 0
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Duffield, VA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	509
Buildings and Improvements	5,018
Total	5,527
Cost Capitalized Subsequent to Acquisition	1,333
Gross Amount at which Carried at Close of Period
Land	509
Building and Improvements	5,964
Total	6,473
Accumulated Depreciation and Amortization	$ (2,388)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Arlington, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,783
Buildings and Improvements	14,219
Total	18,002
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	3,783
Building and Improvements	13,702
Total	17,485
Accumulated Depreciation and Amortization	$ (3,956)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Rockport, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,005
Buildings and Improvements	6,628
Total	7,633
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,005
Building and Improvements	6,212
Total	7,217
Accumulated Depreciation and Amortization	$ (1,824)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Lincoln, NE
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	6,368
Buildings and Improvements	29,919
Total	36,287
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	6,368
Building and Improvements	29,919
Total	36,287
Accumulated Depreciation and Amortization	$ (8,351)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Fremont, NE 1
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	615
Buildings and Improvements	16,176
Total	16,791
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	615
Building and Improvements	16,176
Total	16,791
Accumulated Depreciation and Amortization	$ (4,953)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Fremont, NE 2
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	615
Buildings and Improvements	2,943
Total	3,558
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	615
Building and Improvements	2,943
Total	3,558
Accumulated Depreciation and Amortization	$ (1,069)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Bartlesville, OK
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,332
Buildings and Improvements	6,904
Total	8,236
Cost Capitalized Subsequent to Acquisition	986
Gross Amount at which Carried at Close of Period
Land	1,332
Building and Improvements	7,890
Total	9,222
Accumulated Depreciation and Amortization	$ (2,190)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Oklahoma City, OK
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,189
Buildings and Improvements	23,567
Total	25,756
Cost Capitalized Subsequent to Acquisition	2,534
Gross Amount at which Carried at Close of Period
Land	2,189
Building and Improvements	25,749
Total	27,938
Accumulated Depreciation and Amortization	$ (6,639)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Norman, OK
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	869
Buildings and Improvements	5,236
Total	6,105
Cost Capitalized Subsequent to Acquisition	785
Gross Amount at which Carried at Close of Period
Land	869
Building and Improvements	6,021
Total	6,890
Accumulated Depreciation and Amortization	$ (1,847)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Minneapolis, MN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,931
Buildings and Improvements	6,943
Total	9,874
Cost Capitalized Subsequent to Acquisition	1,190
Gross Amount at which Carried at Close of Period
Land	2,931
Building and Improvements	7,999
Total	10,930
Accumulated Depreciation and Amortization	$ (1,800)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Eugene, OR 1
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,205
Buildings and Improvements	28,700
Total	30,905
Cost Capitalized Subsequent to Acquisition	2,252
Gross Amount at which Carried at Close of Period
Land	2,205
Building and Improvements	30,952
Total	33,157
Accumulated Depreciation and Amortization	$ (5,883)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Lebanon, OR
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	958
Buildings and Improvements	14,176
Total	15,134
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	958
Building and Improvements	14,176
Total	15,134
Accumulated Depreciation and Amortization	$ (2,427)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Portland, OR
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,791
Buildings and Improvements	12,833
Total	14,624
Cost Capitalized Subsequent to Acquisition	2,761
Gross Amount at which Carried at Close of Period
Land	1,791
Building and Improvements	15,594
Total	17,385
Accumulated Depreciation and Amortization	$ (3,466)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Tigard, OR
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,011
Buildings and Improvements	11,667
Total	13,678
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,011
Building and Improvements	11,667
Total	13,678
Accumulated Depreciation and Amortization	$ (2,064)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Hillsboro, OR
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,387
Buildings and Improvements	14,028
Total	15,415
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,387
Building and Improvements	14,028
Total	15,415
Accumulated Depreciation and Amortization	$ (2,399)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Junction City, OR
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	584
Buildings and Improvements	7,901
Total	8,485
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	584
Building and Improvements	7,901
Total	8,485
Accumulated Depreciation and Amortization	$ (1,403)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Eugene, OR 2
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,380
Buildings and Improvements	14,921
Total	16,301
Cost Capitalized Subsequent to Acquisition	1,791
Gross Amount at which Carried at Close of Period
Land	1,380
Building and Improvements	16,712
Total	18,092
Accumulated Depreciation and Amortization	$ (3,421)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Coos Bay, OR
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	829
Buildings and Improvements	8,518
Total	9,347
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	829
Building and Improvements	8,518
Total	9,347
Accumulated Depreciation and Amortization	$ (1,569)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Gladstone, OR
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	792
Buildings and Improvements	5,000
Total	5,792
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	792
Building and Improvements	5,000
Total	5,792
Accumulated Depreciation and Amortization	$ (907)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Newport, OR
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	406
Buildings and Improvements	5,001
Total	5,407
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	406
Building and Improvements	5,001
Total	5,407
Accumulated Depreciation and Amortization	$ (866)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Oregon City, OR
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,496
Buildings and Improvements	12,142
Total	13,638
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,496
Building and Improvements	12,142
Total	13,638
Accumulated Depreciation and Amortization	$ (2,076)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Tacoma, WA 1
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,771
Buildings and Improvements	11,595
Total	13,366
Cost Capitalized Subsequent to Acquisition	15
Gross Amount at which Carried at Close of Period
Land	1,771
Building and Improvements	11,610
Total	13,381
Accumulated Depreciation and Amortization	$ (2,313)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Shoreline, WA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	4,703
Buildings and Improvements	14,444
Total	19,147
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	4,703
Building and Improvements	14,444
Total	19,147
Accumulated Depreciation and Amortization	$ (2,559)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Bellingham, WA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	0
Buildings and Improvements	15,330
Total	15,330
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	0
Building and Improvements	15,330
Total	15,330
Accumulated Depreciation and Amortization	$ (2,740)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Sequim, WA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	427
Buildings and Improvements	4,450
Total	4,877
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	427
Building and Improvements	4,450
Total	4,877
Accumulated Depreciation and Amortization	$ (954)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Tacoma, WA 2
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,705
Buildings and Improvements	4,952
Total	6,657
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,705
Building and Improvements	4,952
Total	6,657
Accumulated Depreciation and Amortization	$ (925)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Tacoma, WA 3
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,195
Buildings and Improvements	1,956
Total	4,151
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,195
Building and Improvements	1,956
Total	4,151
Accumulated Depreciation and Amortization	$ (484)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Vancouver, WA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,782
Buildings and Improvements	15,116
Total	16,898
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,782
Building and Improvements	15,116
Total	16,898
Accumulated Depreciation and Amortization	$ (2,798)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Lake Oswego, OR
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	5,947
Buildings and Improvements	13,401
Total	19,348
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	5,947
Building and Improvements	13,401
Total	19,348
Accumulated Depreciation and Amortization	$ (2,395)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Medford, OR 1
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,043
Buildings and Improvements	38,485
Total	40,528
Cost Capitalized Subsequent to Acquisition	2,960
Gross Amount at which Carried at Close of Period
Land	2,043
Building and Improvements	41,445
Total	43,488
Accumulated Depreciation and Amortization	$ (7,773)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Seattle, WA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,508
Buildings and Improvements	6,401
Total	8,909
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,508
Building and Improvements	6,401
Total	8,909
Accumulated Depreciation and Amortization	$ (1,158)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Boise, ID
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	681
Buildings and Improvements	9,348
Total	10,029
Cost Capitalized Subsequent to Acquisition	627
Gross Amount at which Carried at Close of Period
Land	681
Building and Improvements	9,975
Total	10,656
Accumulated Depreciation and Amortization	$ (1,774)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Salem, OR
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,114
Buildings and Improvements	15,651
Total	17,765
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,114
Building and Improvements	15,651
Total	17,765
Accumulated Depreciation and Amortization	$ (2,758)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Medford, OR 2
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,375
Buildings and Improvements	23,808
Total	25,183
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,375
Building and Improvements	23,808
Total	25,183
Accumulated Depreciation and Amortization	$ (4,231)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Northglenn, CO
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,662
Buildings and Improvements	26,014
Total	27,676
Cost Capitalized Subsequent to Acquisition	3,258
Gross Amount at which Carried at Close of Period
Land	1,662
Building and Improvements	29,272
Total	30,934
Accumulated Depreciation and Amortization	$ (5,916)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Brighton, CO
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,933
Buildings and Improvements	11,624
Total	13,557
Cost Capitalized Subsequent to Acquisition	200
Gross Amount at which Carried at Close of Period
Land	1,933
Building and Improvements	11,824
Total	13,757
Accumulated Depreciation and Amortization	$ (2,166)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Santa Ana, CA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,889
Buildings and Improvements	11,682
Total	13,571
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,889
Building and Improvements	11,682
Total	13,571
Accumulated Depreciation and Amortization	$ (1,947)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| La Mesa, CA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,276
Buildings and Improvements	8,177
Total	9,453
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,276
Building and Improvements	8,177
Total	9,453
Accumulated Depreciation and Amortization	$ (1,416)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Westminster, MD
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,128
Buildings and Improvements	6,614
Total	8,742
Cost Capitalized Subsequent to Acquisition	487
Gross Amount at which Carried at Close of Period
Land	2,128
Building and Improvements	6,978
Total	9,106
Accumulated Depreciation and Amortization	$ (1,618)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Kansas City, MO
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,985
Buildings and Improvements	2,714
Total	4,699
Cost Capitalized Subsequent to Acquisition	303
Gross Amount at which Carried at Close of Period
Land	1,714
Building and Improvements	0
Total	1,714
Accumulated Depreciation and Amortization	$ 0
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Parkersburg, WV
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	697
Buildings and Improvements	10,688
Total	11,385
Cost Capitalized Subsequent to Acquisition	285
Gross Amount at which Carried at Close of Period
Land	697
Building and Improvements	10,911
Total	11,608
Accumulated Depreciation and Amortization	$ (2,428)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Cincinnati, OH
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,686
Buildings and Improvements	10,062
Total	12,748
Cost Capitalized Subsequent to Acquisition	295
Gross Amount at which Carried at Close of Period
Land	2,686
Building and Improvements	10,357
Total	13,043
Accumulated Depreciation and Amortization	$ (2,058)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Charlottesville, VA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,840
Buildings and Improvements	8,450
Total	11,290
Cost Capitalized Subsequent to Acquisition	1,176
Gross Amount at which Carried at Close of Period
Land	2,840
Building and Improvements	9,523
Total	12,363
Accumulated Depreciation and Amortization	$ (2,334)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Annandale, VA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	7,241
Buildings and Improvements	17,727
Total	24,968
Cost Capitalized Subsequent to Acquisition	3,218
Gross Amount at which Carried at Close of Period
Land	7,241
Building and Improvements	20,864
Total	28,105
Accumulated Depreciation and Amortization	$ (4,579)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Petersburg, VA 1
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	988
Buildings and Improvements	8,416
Total	9,404
Cost Capitalized Subsequent to Acquisition	146
Gross Amount at which Carried at Close of Period
Land	988
Building and Improvements	8,478
Total	9,466
Accumulated Depreciation and Amortization	$ (1,672)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Petersburg, VA 2
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,174
Buildings and Improvements	8,858
Total	10,032
Cost Capitalized Subsequent to Acquisition	151
Gross Amount at which Carried at Close of Period
Land	1,174
Building and Improvements	8,942
Total	10,116
Accumulated Depreciation and Amortization	$ (1,749)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Hagerstown, MD
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,393
Buildings and Improvements	13,438
Total	14,831
Cost Capitalized Subsequent to Acquisition	150
Gross Amount at which Carried at Close of Period
Land	1,393
Building and Improvements	13,477
Total	14,870
Accumulated Depreciation and Amortization	$ (2,501)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Cumberland, MD
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	800
Buildings and Improvements	16,973
Total	17,773
Cost Capitalized Subsequent to Acquisition	457
Gross Amount at which Carried at Close of Period
Land	800
Building and Improvements	17,305
Total	18,105
Accumulated Depreciation and Amortization	$ (3,237)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Gilroy, CA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	662
Buildings and Improvements	23,775
Total	24,437
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	662
Building and Improvements	23,775
Total	24,437
Accumulated Depreciation and Amortization	$ (4,022)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Mount Pleasant, SC
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,689
Buildings and Improvements	3,942
Total	6,631
Cost Capitalized Subsequent to Acquisition	205
Gross Amount at which Carried at Close of Period
Land	2,689
Building and Improvements	4,147
Total	6,836
Accumulated Depreciation and Amortization	$ (831)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Harrogate, TN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,811
Buildings and Improvements	4,963
Total	6,774
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,811
Building and Improvements	4,963
Total	6,774
Accumulated Depreciation and Amortization	$ (1,054)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Conway, SC
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,408
Buildings and Improvements	10,784
Total	12,192
Cost Capitalized Subsequent to Acquisition	295
Gross Amount at which Carried at Close of Period
Land	1,408
Building and Improvements	11,079
Total	12,487
Accumulated Depreciation and Amortization	$ (2,075)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Baytown, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	426
Buildings and Improvements	3,236
Total	3,662
Cost Capitalized Subsequent to Acquisition	173
Gross Amount at which Carried at Close of Period
Land	426
Building and Improvements	3,251
Total	3,677
Accumulated Depreciation and Amortization	$ (683)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Huntsville, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	302
Buildings and Improvements	3,153
Total	3,455
Cost Capitalized Subsequent to Acquisition	75
Gross Amount at which Carried at Close of Period
Land	302
Building and Improvements	3,168
Total	3,470
Accumulated Depreciation and Amortization	$ (644)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Center, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	231
Buildings and Improvements	1,335
Total	1,566
Cost Capitalized Subsequent to Acquisition	312
Gross Amount at which Carried at Close of Period
Land	231
Building and Improvements	1,477
Total	1,708
Accumulated Depreciation and Amortization	$ (398)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Humble, TX 1
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,114
Buildings and Improvements	1,643
Total	3,757
Cost Capitalized Subsequent to Acquisition	596
Gross Amount at which Carried at Close of Period
Land	2,114
Building and Improvements	1,953
Total	4,067
Accumulated Depreciation and Amortization	$ (571)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Houston, TX 1
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,019
Buildings and Improvements	5,734
Total	6,753
Cost Capitalized Subsequent to Acquisition	318
Gross Amount at which Carried at Close of Period
Land	1,019
Building and Improvements	5,807
Total	6,826
Accumulated Depreciation and Amortization	$ (1,124)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Linden, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	112
Buildings and Improvements	256
Total	368
Cost Capitalized Subsequent to Acquisition	133
Gross Amount at which Carried at Close of Period
Land	112
Building and Improvements	280
Total	392
Accumulated Depreciation and Amortization	$ (98)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Sherman, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	469
Buildings and Improvements	6,310
Total	6,779
Cost Capitalized Subsequent to Acquisition	255
Gross Amount at which Carried at Close of Period
Land	469
Building and Improvements	6,338
Total	6,807
Accumulated Depreciation and Amortization	$ (1,188)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Mount Pleasant, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	250
Buildings and Improvements	6,913
Total	7,163
Cost Capitalized Subsequent to Acquisition	345
Gross Amount at which Carried at Close of Period
Land	250
Building and Improvements	7,160
Total	7,410
Accumulated Depreciation and Amortization	$ (1,372)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Waxahachie, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	416
Buildings and Improvements	7,259
Total	7,675
Cost Capitalized Subsequent to Acquisition	976
Gross Amount at which Carried at Close of Period
Land	416
Building and Improvements	8,106
Total	8,522
Accumulated Depreciation and Amortization	$ (1,618)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Gilmer, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	707
Buildings and Improvements	4,552
Total	5,259
Cost Capitalized Subsequent to Acquisition	93
Gross Amount at which Carried at Close of Period
Land	707
Building and Improvements	4,562
Total	5,269
Accumulated Depreciation and Amortization	$ (910)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Sparks, NV
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,986
Buildings and Improvements	9,004
Total	10,990
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,986
Building and Improvements	9,004
Total	10,990
Accumulated Depreciation and Amortization	$ (1,714)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Richmond, IN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	259
Buildings and Improvements	9,819
Total	10,078
Cost Capitalized Subsequent to Acquisition	131
Gross Amount at which Carried at Close of Period
Land	259
Building and Improvements	9,950
Total	10,209
Accumulated Depreciation and Amortization	$ (1,856)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Petersburg, IN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	581
Buildings and Improvements	5,367
Total	5,948
Cost Capitalized Subsequent to Acquisition	23
Gross Amount at which Carried at Close of Period
Land	581
Building and Improvements	5,390
Total	5,971
Accumulated Depreciation and Amortization	$ (1,054)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Maryville, MO
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	114
Buildings and Improvements	5,955
Total	6,069
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	150
Building and Improvements	5,955
Total	6,105
Accumulated Depreciation and Amortization	$ (1,187)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Ashland, MO
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	765
Buildings and Improvements	2,669
Total	3,434
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	229
Building and Improvements	628
Total	857
Accumulated Depreciation and Amortization	$ 0
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| St. Louis, MO
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,071
Buildings and Improvements	5,739
Total	7,810
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	375
Building and Improvements	818
Total	1,193
Accumulated Depreciation and Amortization	$ 0
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Doniphan, MO
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	657
Buildings and Improvements	8,251
Total	8,908
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	657
Building and Improvements	8,251
Total	8,908
Accumulated Depreciation and Amortization	$ (1,551)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Dixon, MO
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	521
Buildings and Improvements	3,358
Total	3,879
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	521
Building and Improvements	3,358
Total	3,879
Accumulated Depreciation and Amortization	$ (684)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Forsyth, MO
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	594
Buildings and Improvements	8,549
Total	9,143
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	594
Building and Improvements	8,549
Total	9,143
Accumulated Depreciation and Amortization	$ (1,631)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Seymour, MO
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	658
Buildings and Improvements	901
Total	1,559
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	658
Building and Improvements	901
Total	1,559
Accumulated Depreciation and Amortization	$ (240)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Silex, MO
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	807
Buildings and Improvements	4,990
Total	5,797
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	807
Building and Improvements	4,990
Total	5,797
Accumulated Depreciation and Amortization	$ (965)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Columbia, MO
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,322
Buildings and Improvements	6,547
Total	8,869
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,322
Building and Improvements	6,547
Total	8,869
Accumulated Depreciation and Amortization	$ (1,287)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Strafford, MO
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,634
Buildings and Improvements	6,518
Total	8,152
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,634
Building and Improvements	6,518
Total	8,152
Accumulated Depreciation and Amortization	$ (1,253)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Windsor, MO
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	471
Buildings and Improvements	6,819
Total	7,290
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	471
Building and Improvements	6,819
Total	7,290
Accumulated Depreciation and Amortization	$ (1,188)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Conroe, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,222
Buildings and Improvements	19,099
Total	20,321
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,222
Building and Improvements	19,099
Total	20,321
Accumulated Depreciation and Amortization	$ (3,251)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Houston, TX 2
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,334
Buildings and Improvements	11,615
Total	12,949
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,334
Building and Improvements	11,615
Total	12,949
Accumulated Depreciation and Amortization	$ (2,060)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Humble, TX 2
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,541
Buildings and Improvements	12,332
Total	13,873
Cost Capitalized Subsequent to Acquisition	645
Gross Amount at which Carried at Close of Period
Land	1,541
Building and Improvements	12,977
Total	14,518
Accumulated Depreciation and Amortization	$ (2,611)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Missouri City, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,825
Buildings and Improvements	9,681
Total	11,506
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,825
Building and Improvements	9,681
Total	11,506
Accumulated Depreciation and Amortization	$ (1,784)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Houston, TX 3
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,676
Buildings and Improvements	7,396
Total	10,072
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,676
Building and Improvements	7,396
Total	10,072
Accumulated Depreciation and Amortization	$ (1,394)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Houston, TX 4
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,732
Buildings and Improvements	12,921
Total	14,653
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,732
Building and Improvements	12,921
Total	14,653
Accumulated Depreciation and Amortization	$ (2,274)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Topeka, KS
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	176
Buildings and Improvements	2,340
Total	2,516
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	176
Building and Improvements	2,340
Total	2,516
Accumulated Depreciation and Amortization	$ (474)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Salina, KS
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	301
Buildings and Improvements	4,201
Total	4,502
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	301
Building and Improvements	4,201
Total	4,502
Accumulated Depreciation and Amortization	$ (814)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Terre Haute, IN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,067
Buildings and Improvements	7,061
Total	8,128
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,067
Building and Improvements	7,061
Total	8,128
Accumulated Depreciation and Amortization	$ (1,286)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Gas City, IN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	345
Buildings and Improvements	8,852
Total	9,197
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	345
Building and Improvements	8,852
Total	9,197
Accumulated Depreciation and Amortization	$ (1,536)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Winchester, IN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	711
Buildings and Improvements	5,554
Total	6,265
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	711
Building and Improvements	5,554
Total	6,265
Accumulated Depreciation and Amortization	$ (1,016)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Columbus, IN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,290
Buildings and Improvements	10,714
Total	12,004
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,290
Building and Improvements	10,714
Total	12,004
Accumulated Depreciation and Amortization	$ (1,868)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Portland, IN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	315
Buildings and Improvements	9,848
Total	10,163
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	315
Building and Improvements	9,848
Total	10,163
Accumulated Depreciation and Amortization	$ (1,743)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Clinton, IN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	884
Buildings and Improvements	9,839
Total	10,723
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	884
Building and Improvements	9,839
Total	10,723
Accumulated Depreciation and Amortization	$ (1,829)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Las Vegas, NV 1
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	509
Buildings and Improvements	18,216
Total	18,725
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	509
Building and Improvements	18,216
Total	18,725
Accumulated Depreciation and Amortization	$ (3,036)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Las Vegas, NV 2
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,169
Buildings and Improvements	7,863
Total	11,032
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	3,169
Building and Improvements	7,863
Total	11,032
Accumulated Depreciation and Amortization	$ (1,477)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Alameda, CA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,078
Buildings and Improvements	22,328
Total	25,406
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	3,078
Building and Improvements	22,328
Total	25,406
Accumulated Depreciation and Amortization	$ (3,806)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Dover, NH
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	522
Buildings and Improvements	5,839
Total	6,361
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	522
Building and Improvements	5,839
Total	6,361
Accumulated Depreciation and Amortization	$ (1,385)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Augusta, ME
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	135
Buildings and Improvements	6,470
Total	6,605
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	135
Building and Improvements	6,470
Total	6,605
Accumulated Depreciation and Amortization	$ (1,206)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Bangor, ME 1
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	302
Buildings and Improvements	1,811
Total	2,113
Cost Capitalized Subsequent to Acquisition	2,211
Gross Amount at which Carried at Close of Period
Land	302
Building and Improvements	4,021
Total	4,323
Accumulated Depreciation and Amortization	$ (1,019)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Bath, ME
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	250
Buildings and Improvements	1,934
Total	2,184
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	250
Building and Improvements	1,934
Total	2,184
Accumulated Depreciation and Amortization	$ (402)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Brewer, ME
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	177
Buildings and Improvements	14,497
Total	14,674
Cost Capitalized Subsequent to Acquisition	2,520
Gross Amount at which Carried at Close of Period
Land	177
Building and Improvements	17,017
Total	17,194
Accumulated Depreciation and Amortization	$ (3,371)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Kennebunk, ME
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	198
Buildings and Improvements	6,822
Total	7,020
Cost Capitalized Subsequent to Acquisition	2,005
Gross Amount at which Carried at Close of Period
Land	198
Building and Improvements	8,827
Total	9,025
Accumulated Depreciation and Amortization	$ (1,634)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Norway, ME
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	791
Buildings and Improvements	3,680
Total	4,471
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	791
Building and Improvements	3,680
Total	4,471
Accumulated Depreciation and Amortization	$ (729)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Yarmouth, ME
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	134
Buildings and Improvements	2,072
Total	2,206
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	134
Building and Improvements	2,072
Total	2,206
Accumulated Depreciation and Amortization	$ (442)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Marlborough, MA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	942
Buildings and Improvements	1,541
Total	2,483
Cost Capitalized Subsequent to Acquisition	8,727
Gross Amount at which Carried at Close of Period
Land	942
Building and Improvements	10,268
Total	11,210
Accumulated Depreciation and Amortization	$ (3,468)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Bangor, ME 2
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	229
Buildings and Improvements	7,171
Total	7,400
Cost Capitalized Subsequent to Acquisition	511
Gross Amount at which Carried at Close of Period
Land	229
Building and Improvements	7,682
Total	7,911
Accumulated Depreciation and Amortization	$ (1,446)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Orange, CA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	4,163
Buildings and Improvements	14,755
Total	18,918
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	4,163
Building and Improvements	14,755
Total	18,918
Accumulated Depreciation and Amortization	$ (2,640)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Lancaster, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	548
Buildings and Improvements	5,794
Total	6,342
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	548
Building and Improvements	5,794
Total	6,342
Accumulated Depreciation and Amortization	$ (1,140)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Garland, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,118
Buildings and Improvements	7,490
Total	8,608
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,118
Building and Improvements	7,490
Total	8,608
Accumulated Depreciation and Amortization	$ (1,403)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Clarksville, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	279
Buildings and Improvements	4,269
Total	4,548
Cost Capitalized Subsequent to Acquisition	100
Gross Amount at which Carried at Close of Period
Land	279
Building and Improvements	4,369
Total	4,648
Accumulated Depreciation and Amortization	$ (970)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| McKinney, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,272
Buildings and Improvements	6,047
Total	7,319
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,272
Building and Improvements	6,047
Total	7,319
Accumulated Depreciation and Amortization	$ (1,217)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Hopkins, MN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	807
Buildings and Improvements	4,668
Total	5,475
Cost Capitalized Subsequent to Acquisition	530
Gross Amount at which Carried at Close of Period
Land	807
Building and Improvements	5,198
Total	6,005
Accumulated Depreciation and Amortization	$ (1,418)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Florence, WI
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	291
Buildings and Improvements	3,778
Total	4,069
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	291
Building and Improvements	3,778
Total	4,069
Accumulated Depreciation and Amortization	$ (795)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| St. Francis, WI
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	166
Buildings and Improvements	1,887
Total	2,053
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	166
Building and Improvements	1,887
Total	2,053
Accumulated Depreciation and Amortization	$ (412)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Rochester, MN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	645
Buildings and Improvements	7,067
Total	7,712
Cost Capitalized Subsequent to Acquisition	178
Gross Amount at which Carried at Close of Period
Land	645
Building and Improvements	7,245
Total	7,890
Accumulated Depreciation and Amortization	$ (1,442)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Wisconsin Dells, WI
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,640
Buildings and Improvements	1,599
Total	3,239
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,640
Building and Improvements	1,599
Total	3,239
Accumulated Depreciation and Amortization	$ (453)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Sheboygan, WI
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,038
Buildings and Improvements	2,839
Total	3,877
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,038
Building and Improvements	2,839
Total	3,877
Accumulated Depreciation and Amortization	$ (681)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Hendersonville, NC
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,611
Buildings and Improvements	3,503
Total	5,114
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,611
Building and Improvements	3,503
Total	5,114
Accumulated Depreciation and Amortization	$ (774)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Baytown, TX 1
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	579
Buildings and Improvements	22,317
Total	22,896
Cost Capitalized Subsequent to Acquisition	103
Gross Amount at which Carried at Close of Period
Land	579
Building and Improvements	22,419
Total	22,998
Accumulated Depreciation and Amortization	$ (3,865)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Baytown, TX 2
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	589
Buildings and Improvements	20,475
Total	21,064
Cost Capitalized Subsequent to Acquisition	362
Gross Amount at which Carried at Close of Period
Land	589
Building and Improvements	20,837
Total	21,426
Accumulated Depreciation and Amortization	$ (3,830)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Houston, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,300
Buildings and Improvements	13,353
Total	14,653
Cost Capitalized Subsequent to Acquisition	31
Gross Amount at which Carried at Close of Period
Land	1,300
Building and Improvements	13,384
Total	14,684
Accumulated Depreciation and Amortization	$ (2,475)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Pasadena, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,148
Buildings and Improvements	23,579
Total	24,727
Cost Capitalized Subsequent to Acquisition	47
Gross Amount at which Carried at Close of Period
Land	1,148
Building and Improvements	23,626
Total	24,774
Accumulated Depreciation and Amortization	$ (4,142)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Webster, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	904
Buildings and Improvements	10,315
Total	11,219
Cost Capitalized Subsequent to Acquisition	24
Gross Amount at which Carried at Close of Period
Land	904
Building and Improvements	10,338
Total	11,242
Accumulated Depreciation and Amortization	$ (1,958)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Beaumont, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	945
Buildings and Improvements	20,424
Total	21,369
Cost Capitalized Subsequent to Acquisition	272
Gross Amount at which Carried at Close of Period
Land	945
Building and Improvements	20,696
Total	21,641
Accumulated Depreciation and Amortization	$ (3,634)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Orange, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	711
Buildings and Improvements	10,737
Total	11,448
Cost Capitalized Subsequent to Acquisition	186
Gross Amount at which Carried at Close of Period
Land	711
Building and Improvements	10,923
Total	11,634
Accumulated Depreciation and Amortization	$ (2,014)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Huntsville, AL
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	634
Buildings and Improvements	28,071
Total	28,705
Cost Capitalized Subsequent to Acquisition	19
Gross Amount at which Carried at Close of Period
Land	634
Building and Improvements	28,089
Total	28,723
Accumulated Depreciation and Amortization	$ (4,713)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Terre Haute, IN 1
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	644
Buildings and Improvements	37,451
Total	38,095
Cost Capitalized Subsequent to Acquisition	59
Gross Amount at which Carried at Close of Period
Land	644
Building and Improvements	37,511
Total	38,155
Accumulated Depreciation and Amortization	$ (7,069)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Madison, TN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	902
Buildings and Improvements	3,850
Total	4,752
Cost Capitalized Subsequent to Acquisition	23
Gross Amount at which Carried at Close of Period
Land	902
Building and Improvements	3,873
Total	4,775
Accumulated Depreciation and Amortization	$ (886)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Savannah, GA 1
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,235
Buildings and Improvements	3,765
Total	5,000
Cost Capitalized Subsequent to Acquisition	18
Gross Amount at which Carried at Close of Period
Land	1,235
Building and Improvements	3,783
Total	5,018
Accumulated Depreciation and Amortization	$ (908)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Bowling Green, KY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	280
Buildings and Improvements	13,975
Total	14,255
Cost Capitalized Subsequent to Acquisition	32
Gross Amount at which Carried at Close of Period
Land	280
Building and Improvements	14,007
Total	14,287
Accumulated Depreciation and Amortization	$ (2,597)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Calvert City, KY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,176
Buildings and Improvements	7,012
Total	8,188
Cost Capitalized Subsequent to Acquisition	25
Gross Amount at which Carried at Close of Period
Land	1,176
Building and Improvements	7,037
Total	8,213
Accumulated Depreciation and Amortization	$ (1,385)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Winchester, KY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	554
Buildings and Improvements	13,207
Total	13,761
Cost Capitalized Subsequent to Acquisition	43
Gross Amount at which Carried at Close of Period
Land	554
Building and Improvements	13,250
Total	13,804
Accumulated Depreciation and Amortization	$ (2,507)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Calhoun, KY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	613
Buildings and Improvements	7,643
Total	8,256
Cost Capitalized Subsequent to Acquisition	30
Gross Amount at which Carried at Close of Period
Land	613
Building and Improvements	7,673
Total	8,286
Accumulated Depreciation and Amortization	$ (1,551)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Bremen, IN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	173
Buildings and Improvements	7,393
Total	7,566
Cost Capitalized Subsequent to Acquisition	38
Gross Amount at which Carried at Close of Period
Land	173
Building and Improvements	7,431
Total	7,604
Accumulated Depreciation and Amortization	$ (1,373)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Muncie, IN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	374
Buildings and Improvements	27,429
Total	27,803
Cost Capitalized Subsequent to Acquisition	38
Gross Amount at which Carried at Close of Period
Land	374
Building and Improvements	27,467
Total	27,841
Accumulated Depreciation and Amortization	$ (4,710)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Lebanon, IN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	612
Buildings and Improvements	11,755
Total	12,367
Cost Capitalized Subsequent to Acquisition	39
Gross Amount at which Carried at Close of Period
Land	612
Building and Improvements	11,794
Total	12,406
Accumulated Depreciation and Amortization	$ (2,141)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Marietta, GA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	364
Buildings and Improvements	16,116
Total	16,480
Cost Capitalized Subsequent to Acquisition	20
Gross Amount at which Carried at Close of Period
Land	364
Building and Improvements	16,137
Total	16,501
Accumulated Depreciation and Amortization	$ (3,004)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Danville, KY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	790
Buildings and Improvements	9,356
Total	10,146
Cost Capitalized Subsequent to Acquisition	32
Gross Amount at which Carried at Close of Period
Land	790
Building and Improvements	9,388
Total	10,178
Accumulated Depreciation and Amortization	$ (2,048)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Owensboro, KY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,048
Buildings and Improvements	22,587
Total	23,635
Cost Capitalized Subsequent to Acquisition	40
Gross Amount at which Carried at Close of Period
Land	1,048
Building and Improvements	22,627
Total	23,675
Accumulated Depreciation and Amortization	$ (4,031)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Memphis, TN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,633
Buildings and Improvements	9,371
Total	11,004
Cost Capitalized Subsequent to Acquisition	21
Gross Amount at which Carried at Close of Period
Land	1,633
Building and Improvements	9,392
Total	11,025
Accumulated Depreciation and Amortization	$ (1,832)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Norfolk, VA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	705
Buildings and Improvements	16,451
Total	17,156
Cost Capitalized Subsequent to Acquisition	33
Gross Amount at which Carried at Close of Period
Land	705
Building and Improvements	16,485
Total	17,190
Accumulated Depreciation and Amortization	$ (3,322)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Harrodsburg, KY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,049
Buildings and Improvements	9,851
Total	10,900
Cost Capitalized Subsequent to Acquisition	21
Gross Amount at which Carried at Close of Period
Land	1,049
Building and Improvements	9,872
Total	10,921
Accumulated Depreciation and Amortization	$ (2,050)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Cookeville, TN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,034
Buildings and Improvements	15,555
Total	16,589
Cost Capitalized Subsequent to Acquisition	32
Gross Amount at which Carried at Close of Period
Land	1,034
Building and Improvements	15,586
Total	16,620
Accumulated Depreciation and Amortization	$ (2,841)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Washington Court House, OH
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	405
Buildings and Improvements	4,839
Total	5,244
Cost Capitalized Subsequent to Acquisition	20
Gross Amount at which Carried at Close of Period
Land	405
Building and Improvements	4,859
Total	5,264
Accumulated Depreciation and Amortization	$ (1,049)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Galion, OH
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	836
Buildings and Improvements	668
Total	1,504
Cost Capitalized Subsequent to Acquisition	14
Gross Amount at which Carried at Close of Period
Land	836
Building and Improvements	683
Total	1,519
Accumulated Depreciation and Amortization	$ (237)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Roanoke Rapids, NC
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	373
Buildings and Improvements	10,308
Total	10,681
Cost Capitalized Subsequent to Acquisition	25
Gross Amount at which Carried at Close of Period
Land	373
Building and Improvements	10,334
Total	10,707
Accumulated Depreciation and Amortization	$ (2,070)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Kinston, NC
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	954
Buildings and Improvements	7,987
Total	8,941
Cost Capitalized Subsequent to Acquisition	73
Gross Amount at which Carried at Close of Period
Land	954
Building and Improvements	8,059
Total	9,013
Accumulated Depreciation and Amortization	$ (1,807)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Chapel Hill, NC
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	809
Buildings and Improvements	2,703
Total	3,512
Cost Capitalized Subsequent to Acquisition	1,191
Gross Amount at which Carried at Close of Period
Land	809
Building and Improvements	3,893
Total	4,702
Accumulated Depreciation and Amortization	$ (964)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Chillicothe, OH
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	260
Buildings and Improvements	8,924
Total	9,184
Cost Capitalized Subsequent to Acquisition	19
Gross Amount at which Carried at Close of Period
Land	260
Building and Improvements	8,943
Total	9,203
Accumulated Depreciation and Amortization	$ (1,850)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Coshocton, OH
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	374
Buildings and Improvements	2,530
Total	2,904
Cost Capitalized Subsequent to Acquisition	37
Gross Amount at which Carried at Close of Period
Land	374
Building and Improvements	2,567
Total	2,941
Accumulated Depreciation and Amortization	$ (715)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Pine Knot, KY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	208
Buildings and Improvements	7,665
Total	7,873
Cost Capitalized Subsequent to Acquisition	23
Gross Amount at which Carried at Close of Period
Land	208
Building and Improvements	7,689
Total	7,897
Accumulated Depreciation and Amortization	$ (1,447)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Bardstown, KY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	634
Buildings and Improvements	4,094
Total	4,728
Cost Capitalized Subsequent to Acquisition	16
Gross Amount at which Carried at Close of Period
Land	634
Building and Improvements	4,110
Total	4,744
Accumulated Depreciation and Amortization	$ (903)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Glasgow, KY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	83
Buildings and Improvements	2,057
Total	2,140
Cost Capitalized Subsequent to Acquisition	28
Gross Amount at which Carried at Close of Period
Land	83
Building and Improvements	2,086
Total	2,169
Accumulated Depreciation and Amortization	$ (552)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Carrollton, KY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	124
Buildings and Improvements	1,693
Total	1,817
Cost Capitalized Subsequent to Acquisition	21
Gross Amount at which Carried at Close of Period
Land	124
Building and Improvements	1,714
Total	1,838
Accumulated Depreciation and Amortization	$ (476)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Horse Cave, KY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	208
Buildings and Improvements	7,070
Total	7,278
Cost Capitalized Subsequent to Acquisition	38
Gross Amount at which Carried at Close of Period
Land	208
Building and Improvements	7,108
Total	7,316
Accumulated Depreciation and Amortization	$ (1,460)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Lawrenceburg, KY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	635
Buildings and Improvements	9,861
Total	10,496
Cost Capitalized Subsequent to Acquisition	17
Gross Amount at which Carried at Close of Period
Land	635
Building and Improvements	9,879
Total	10,514
Accumulated Depreciation and Amortization	$ (1,887)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Annville, KY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	479
Buildings and Improvements	6,078
Total	6,557
Cost Capitalized Subsequent to Acquisition	17
Gross Amount at which Carried at Close of Period
Land	479
Building and Improvements	6,095
Total	6,574
Accumulated Depreciation and Amortization	$ (1,140)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Louisville, KY 1
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,528
Buildings and Improvements	4,653
Total	8,181
Cost Capitalized Subsequent to Acquisition	24
Gross Amount at which Carried at Close of Period
Land	3,528
Building and Improvements	4,677
Total	8,205
Accumulated Depreciation and Amortization	$ (1,095)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Louisville, KY 2
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,207
Buildings and Improvements	20,733
Total	22,940
Cost Capitalized Subsequent to Acquisition	29
Gross Amount at which Carried at Close of Period
Land	2,207
Building and Improvements	20,761
Total	22,968
Accumulated Depreciation and Amortization	$ (3,667)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Tompkinsville, KY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	333
Buildings and Improvements	9,556
Total	9,889
Cost Capitalized Subsequent to Acquisition	26
Gross Amount at which Carried at Close of Period
Land	333
Building and Improvements	9,582
Total	9,915
Accumulated Depreciation and Amortization	$ (1,809)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Radcliff, KY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,815
Buildings and Improvements	7,470
Total	9,285
Cost Capitalized Subsequent to Acquisition	34
Gross Amount at which Carried at Close of Period
Land	1,815
Building and Improvements	7,504
Total	9,319
Accumulated Depreciation and Amortization	$ (1,793)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Hartford, KY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	312
Buildings and Improvements	8,189
Total	8,501
Cost Capitalized Subsequent to Acquisition	21
Gross Amount at which Carried at Close of Period
Land	312
Building and Improvements	8,210
Total	8,522
Accumulated Depreciation and Amortization	$ (1,583)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Louisville, KY 3
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	427
Buildings and Improvements	6,003
Total	6,430
Cost Capitalized Subsequent to Acquisition	21
Gross Amount at which Carried at Close of Period
Land	427
Building and Improvements	6,023
Total	6,450
Accumulated Depreciation and Amortization	$ (1,237)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Louisville, KY 4
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,134
Buildings and Improvements	9,166
Total	10,300
Cost Capitalized Subsequent to Acquisition	28
Gross Amount at which Carried at Close of Period
Land	1,134
Building and Improvements	9,194
Total	10,328
Accumulated Depreciation and Amortization	$ (1,938)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Lexington, KY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,558
Buildings and Improvements	4,311
Total	6,869
Cost Capitalized Subsequent to Acquisition	51
Gross Amount at which Carried at Close of Period
Land	2,558
Building and Improvements	4,361
Total	6,919
Accumulated Depreciation and Amortization	$ (998)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Columbia, KY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	114
Buildings and Improvements	11,141
Total	11,255
Cost Capitalized Subsequent to Acquisition	28
Gross Amount at which Carried at Close of Period
Land	114
Building and Improvements	11,169
Total	11,283
Accumulated Depreciation and Amortization	$ (2,063)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Monticello, AR
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	206
Buildings and Improvements	3,179
Total	3,385
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	206
Building and Improvements	3,179
Total	3,385
Accumulated Depreciation and Amortization	$ (704)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Benton, AR
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,336
Buildings and Improvements	7,386
Total	8,722
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,336
Building and Improvements	7,386
Total	8,722
Accumulated Depreciation and Amortization	$ (1,493)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Wynne, AR
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	227
Buildings and Improvements	4,007
Total	4,234
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	227
Building and Improvements	4,007
Total	4,234
Accumulated Depreciation and Amortization	$ (818)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Morrilton, AR
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	412
Buildings and Improvements	2,642
Total	3,054
Cost Capitalized Subsequent to Acquisition	3,038
Gross Amount at which Carried at Close of Period
Land	467
Building and Improvements	5,680
Total	6,147
Accumulated Depreciation and Amortization	$ (936)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Bryant, AR
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	819
Buildings and Improvements	8,938
Total	9,757
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	819
Building and Improvements	8,938
Total	9,757
Accumulated Depreciation and Amortization	$ (1,609)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Savannah, GA 2
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,194
Buildings and Improvements	11,711
Total	13,905
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,194
Building and Improvements	11,711
Total	13,905
Accumulated Depreciation and Amortization	$ (2,080)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Durham, NC
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	470
Buildings and Improvements	9,633
Total	10,103
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	470
Building and Improvements	9,633
Total	10,103
Accumulated Depreciation and Amortization	$ (1,695)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Raleigh, NC 1
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,155
Buildings and Improvements	11,749
Total	12,904
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,155
Building and Improvements	11,749
Total	12,904
Accumulated Depreciation and Amortization	$ (2,117)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Raleigh, NC 2
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	926
Buildings and Improvements	17,649
Total	18,575
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	926
Building and Improvements	17,649
Total	18,575
Accumulated Depreciation and Amortization	$ (3,125)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Wilmington, NC
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	611
Buildings and Improvements	5,051
Total	5,662
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	611
Building and Improvements	5,051
Total	5,662
Accumulated Depreciation and Amortization	$ (1,015)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Winston-Salem, NC
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	879
Buildings and Improvements	3,283
Total	4,162
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	879
Building and Improvements	3,283
Total	4,162
Accumulated Depreciation and Amortization	$ (753)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Lincolnton, NC
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	0
Buildings and Improvements	9,967
Total	9,967
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	0
Building and Improvements	9,967
Total	9,967
Accumulated Depreciation and Amortization	$ (1,803)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Monroe, NC
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	166
Buildings and Improvements	5,906
Total	6,072
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	166
Building and Improvements	5,906
Total	6,072
Accumulated Depreciation and Amortization	$ (1,189)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Zebulon, NC
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	594
Buildings and Improvements	8,559
Total	9,153
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	594
Building and Improvements	8,559
Total	9,153
Accumulated Depreciation and Amortization	$ (1,486)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Rocky Mount, NC
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	0
Buildings and Improvements	18,314
Total	18,314
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	0
Building and Improvements	18,314
Total	18,314
Accumulated Depreciation and Amortization	$ (3,123)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| DeSoto, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	942
Buildings and Improvements	6,033
Total	6,975
Cost Capitalized Subsequent to Acquisition	320
Gross Amount at which Carried at Close of Period
Land	942
Building and Improvements	6,353
Total	7,295
Accumulated Depreciation and Amortization	$ (1,236)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Trinity, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	363
Buildings and Improvements	3,852
Total	4,215
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	363
Building and Improvements	3,852
Total	4,215
Accumulated Depreciation and Amortization	$ (822)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Kirbyville, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	208
Buildings and Improvements	5,809
Total	6,017
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	208
Building and Improvements	5,809
Total	6,017
Accumulated Depreciation and Amortization	$ (1,186)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Marshall, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	732
Buildings and Improvements	4,288
Total	5,020
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	732
Building and Improvements	4,288
Total	5,020
Accumulated Depreciation and Amortization	$ (901)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Warren, MI
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,052
Buildings and Improvements	25,539
Total	27,591
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,052
Building and Improvements	25,539
Total	27,591
Accumulated Depreciation and Amortization	$ (5,009)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Hamburg, NY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,026
Buildings and Improvements	54,086
Total	55,112
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,026
Building and Improvements	54,086
Total	55,112
Accumulated Depreciation and Amortization	$ (9,273)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| East Patchogue, NY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,181
Buildings and Improvements	30,373
Total	32,554
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,181
Building and Improvements	30,373
Total	32,554
Accumulated Depreciation and Amortization	$ (5,478)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Williamsville, NY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,122
Buildings and Improvements	46,413
Total	47,535
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,122
Building and Improvements	46,413
Total	47,535
Accumulated Depreciation and Amortization	$ (7,814)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Cheektowaga, NY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,164
Buildings and Improvements	29,905
Total	31,069
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,164
Building and Improvements	29,905
Total	31,069
Accumulated Depreciation and Amortization	$ (5,335)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| North Tonawanda, NY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	830
Buildings and Improvements	29,488
Total	30,318
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	830
Building and Improvements	29,488
Total	30,318
Accumulated Depreciation and Amortization	$ (5,259)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| West Seneca, NY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,325
Buildings and Improvements	26,839
Total	28,164
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,325
Building and Improvements	26,839
Total	28,164
Accumulated Depreciation and Amortization	$ (4,698)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Beverly, MA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,410
Buildings and Improvements	13,588
Total	15,998
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,410
Building and Improvements	13,588
Total	15,998
Accumulated Depreciation and Amortization	$ (3,199)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Lancaster, MA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	343
Buildings and Improvements	7,733
Total	8,076
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	343
Building and Improvements	7,733
Total	8,076
Accumulated Depreciation and Amortization	$ (1,407)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| New London, CT
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	505
Buildings and Improvements	2,248
Total	2,753
Cost Capitalized Subsequent to Acquisition	48
Gross Amount at which Carried at Close of Period
Land	505
Building and Improvements	2,296
Total	2,801
Accumulated Depreciation and Amortization	$ (712)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Enfield, CT
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	437
Buildings and Improvements	16,461
Total	16,898
Cost Capitalized Subsequent to Acquisition	231
Gross Amount at which Carried at Close of Period
Land	437
Building and Improvements	16,693
Total	17,130
Accumulated Depreciation and Amortization	$ (3,085)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Quincy, MA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	894
Buildings and Improvements	904
Total	1,798
Cost Capitalized Subsequent to Acquisition	129
Gross Amount at which Carried at Close of Period
Land	894
Building and Improvements	1,033
Total	1,927
Accumulated Depreciation and Amortization	$ (335)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Fishkill, NY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	964
Buildings and Improvements	30,107
Total	31,071
Cost Capitalized Subsequent to Acquisition	421
Gross Amount at which Carried at Close of Period
Land	964
Building and Improvements	30,518
Total	31,482
Accumulated Depreciation and Amortization	$ (5,495)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Highland, NY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	4,371
Buildings and Improvements	11,473
Total	15,844
Cost Capitalized Subsequent to Acquisition	260
Gross Amount at which Carried at Close of Period
Land	4,371
Building and Improvements	11,733
Total	16,104
Accumulated Depreciation and Amortization	$ (2,252)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Beacon, NY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	0
Buildings and Improvements	25,400
Total	25,400
Cost Capitalized Subsequent to Acquisition	267
Gross Amount at which Carried at Close of Period
Land	0
Building and Improvements	25,666
Total	25,666
Accumulated Depreciation and Amortization	$ (4,802)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Springfield, MA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	817
Buildings and Improvements	11,357
Total	12,174
Cost Capitalized Subsequent to Acquisition	386
Gross Amount at which Carried at Close of Period
Land	817
Building and Improvements	11,743
Total	12,560
Accumulated Depreciation and Amortization	$ (2,094)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Andover, MA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,123
Buildings and Improvements	5,383
Total	7,506
Cost Capitalized Subsequent to Acquisition	18
Gross Amount at which Carried at Close of Period
Land	2,123
Building and Improvements	5,401
Total	7,524
Accumulated Depreciation and Amortization	$ (1,131)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Reading, MA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,534
Buildings and Improvements	5,221
Total	6,755
Cost Capitalized Subsequent to Acquisition	540
Gross Amount at which Carried at Close of Period
Land	1,534
Building and Improvements	5,760
Total	7,294
Accumulated Depreciation and Amortization	$ (1,216)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Sudbury, MA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,017
Buildings and Improvements	3,458
Total	5,475
Cost Capitalized Subsequent to Acquisition	421
Gross Amount at which Carried at Close of Period
Land	2,017
Building and Improvements	3,879
Total	5,896
Accumulated Depreciation and Amortization	$ (922)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Lowell, MA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,335
Buildings and Improvements	9,019
Total	10,354
Cost Capitalized Subsequent to Acquisition	489
Gross Amount at which Carried at Close of Period
Land	1,335
Building and Improvements	9,508
Total	10,843
Accumulated Depreciation and Amortization	$ (1,847)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Worcester, MA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	945
Buildings and Improvements	8,770
Total	9,715
Cost Capitalized Subsequent to Acquisition	50
Gross Amount at which Carried at Close of Period
Land	945
Building and Improvements	8,820
Total	9,765
Accumulated Depreciation and Amortization	$ (1,693)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| W. Springfield, MA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,022
Buildings and Improvements	7,345
Total	9,367
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,022
Building and Improvements	7,345
Total	9,367
Accumulated Depreciation and Amortization	$ (1,556)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| East Longmeadow, MA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,968
Buildings and Improvements	8,957
Total	11,925
Cost Capitalized Subsequent to Acquisition	790
Gross Amount at which Carried at Close of Period
Land	2,968
Building and Improvements	9,748
Total	12,716
Accumulated Depreciation and Amortization	$ (2,055)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Long Beach, CA 1
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,939
Buildings and Improvements	11,782
Total	14,721
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,939
Building and Improvements	11,690
Total	14,629
Accumulated Depreciation and Amortization	$ (2,246)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Anaheim, CA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,044
Buildings and Improvements	14,167
Total	16,211
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,044
Building and Improvements	14,167
Total	16,211
Accumulated Depreciation and Amortization	$ (2,643)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Fairfield, CA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	586
Buildings and Improvements	23,582
Total	24,168
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	586
Building and Improvements	23,582
Total	24,168
Accumulated Depreciation and Amortization	$ (4,095)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Baldwin Park, CA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,270
Buildings and Improvements	17,063
Total	19,333
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,270
Building and Improvements	17,063
Total	19,333
Accumulated Depreciation and Amortization	$ (3,126)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Grand Terrace, CA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	432
Buildings and Improvements	9,382
Total	9,814
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	432
Building and Improvements	9,382
Total	9,814
Accumulated Depreciation and Amortization	$ (1,732)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Pacifica, CA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,510
Buildings and Improvements	27,397
Total	28,907
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,510
Building and Improvements	27,397
Total	28,907
Accumulated Depreciation and Amortization	$ (4,692)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Burien, WA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	823
Buildings and Improvements	17,431
Total	18,254
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	826
Building and Improvements	17,431
Total	18,257
Accumulated Depreciation and Amortization	$ (3,145)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Seattle, WA 1
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	4,802
Buildings and Improvements	7,927
Total	12,729
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	4,802
Building and Improvements	7,927
Total	12,729
Accumulated Depreciation and Amortization	$ (1,604)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Huntington Bch, CA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,312
Buildings and Improvements	9,885
Total	12,197
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,312
Building and Improvements	9,885
Total	12,197
Accumulated Depreciation and Amortization	$ (1,817)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Chatsworth, CA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	7,841
Buildings and Improvements	16,916
Total	24,757
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	7,841
Building and Improvements	16,916
Total	24,757
Accumulated Depreciation and Amortization	$ (3,239)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Woodland, CA 1
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	504
Buildings and Improvements	7,369
Total	7,873
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	504
Building and Improvements	7,369
Total	7,873
Accumulated Depreciation and Amortization	$ (1,425)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Danville, CA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,491
Buildings and Improvements	17,157
Total	18,648
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,491
Building and Improvements	17,157
Total	18,648
Accumulated Depreciation and Amortization	$ (3,074)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Van Nuys, CA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,456
Buildings and Improvements	16,462
Total	18,918
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,456
Building and Improvements	16,462
Total	18,918
Accumulated Depreciation and Amortization	$ (2,841)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Lomita, CA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,743
Buildings and Improvements	14,734
Total	17,477
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,743
Building and Improvements	14,734
Total	17,477
Accumulated Depreciation and Amortization	$ (2,763)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Sacramento, CA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,846
Buildings and Improvements	17,962
Total	20,808
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,846
Building and Improvements	17,962
Total	20,808
Accumulated Depreciation and Amortization	$ (3,178)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Issaquah, WA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	10,125
Buildings and Improvements	7,771
Total	17,896
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	10,125
Building and Improvements	7,771
Total	17,896
Accumulated Depreciation and Amortization	$ (1,653)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Long Beach, CA 2
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,157
Buildings and Improvements	22,067
Total	25,224
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	3,157
Building and Improvements	22,067
Total	25,224
Accumulated Depreciation and Amortization	$ (4,001)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Long Beach, CA 3
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,857
Buildings and Improvements	5,878
Total	8,735
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,857
Building and Improvements	5,878
Total	8,735
Accumulated Depreciation and Amortization	$ (1,150)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Lodi, CA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	812
Buildings and Improvements	21,059
Total	21,871
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	812
Building and Improvements	21,059
Total	21,871
Accumulated Depreciation and Amortization	$ (3,553)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Riverside, CA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,717
Buildings and Improvements	13,806
Total	15,523
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,717
Building and Improvements	13,806
Total	15,523
Accumulated Depreciation and Amortization	$ (2,725)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Woodland, CA 2
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	278
Buildings and Improvements	16,729
Total	17,007
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	278
Building and Improvements	16,729
Total	17,007
Accumulated Depreciation and Amortization	$ (2,990)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Bee Cave, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,107
Buildings and Improvements	10,413
Total	12,520
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,107
Building and Improvements	10,413
Total	12,520
Accumulated Depreciation and Amortization	$ (2,147)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| El Monte, CA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,058
Buildings and Improvements	19,671
Total	21,729
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,058
Building and Improvements	19,671
Total	21,729
Accumulated Depreciation and Amortization	$ (3,401)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Shoreline, WA 1
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	8,861
Buildings and Improvements	11,478
Total	20,339
Cost Capitalized Subsequent to Acquisition	103
Gross Amount at which Carried at Close of Period
Land	8,861
Building and Improvements	11,580
Total	20,441
Accumulated Depreciation and Amortization	$ (2,368)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Elizabethtown, KY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	729
Buildings and Improvements	0
Total	729
Cost Capitalized Subsequent to Acquisition	19,329
Gross Amount at which Carried at Close of Period
Land	729
Building and Improvements	19,329
Total	20,058
Accumulated Depreciation and Amortization	$ (479)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Crown Point, IN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,522
Buildings and Improvements	14,951
Total	16,473
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,522
Building and Improvements	14,951
Total	16,473
Accumulated Depreciation and Amortization	$ (78)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Skilled Nursing/Transitional Care \| Dyer, IN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,859
Buildings and Improvements	19,547
Total	21,406
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,859
Building and Improvements	19,547
Total	21,406
Accumulated Depreciation and Amortization	$ (100)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased
Real Estate and Accumulated Depreciation
Encumbrances	$ 24,092
Initial Cost to Company
Land	39,325
Buildings and Improvements	509,434
Total	548,759
Cost Capitalized Subsequent to Acquisition	27,811
Gross Amount at which Carried at Close of Period
Land	40,406
Building and Improvements	532,868
Total	573,274
Accumulated Depreciation and Amortization	(109,601)
Senior Housing - Leased \| Rockport, TX
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	789
Buildings and Improvements	607
Total	1,396
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	789
Building and Improvements	475
Total	1,264
Accumulated Depreciation and Amortization	$ (183)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Norman, OK
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	557
Buildings and Improvements	2,663
Total	3,220
Cost Capitalized Subsequent to Acquisition	1,135
Gross Amount at which Carried at Close of Period
Land	557
Building and Improvements	3,798
Total	4,355
Accumulated Depreciation and Amortization	$ (68)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Topeka, KS
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	313
Buildings and Improvements	5,492
Total	5,805
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	313
Building and Improvements	5,492
Total	5,805
Accumulated Depreciation and Amortization	$ (967)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Salina, KS
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	584
Buildings and Improvements	3,020
Total	3,604
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	584
Building and Improvements	3,020
Total	3,604
Accumulated Depreciation and Amortization	$ (575)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Dover, NH
Real Estate and Accumulated Depreciation
Encumbrances	$ 2,335
Initial Cost to Company
Land	801
Buildings and Improvements	10,036
Total	10,837
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	801
Building and Improvements	8,584
Total	9,385
Accumulated Depreciation and Amortization	$ (4,002)
Life on Which Depreciation in Latest Income Statement is Computed	42 years
Senior Housing - Leased \| Exeter, NH
Real Estate and Accumulated Depreciation
Encumbrances	$ 1,880
Initial Cost to Company
Land	571
Buildings and Improvements	7,183
Total	7,754
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	571
Building and Improvements	5,912
Total	6,483
Accumulated Depreciation and Amortization	$ (2,771)
Life on Which Depreciation in Latest Income Statement is Computed	43 years
Senior Housing - Leased \| Nashua, NH
Real Estate and Accumulated Depreciation
Encumbrances	$ 4,457
Initial Cost to Company
Land	0
Buildings and Improvements	5,654
Total	5,654
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	0
Building and Improvements	4,566
Total	4,566
Accumulated Depreciation and Amortization	$ (1,949)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Keene, NH
Real Estate and Accumulated Depreciation
Encumbrances	$ 3,237
Initial Cost to Company
Land	304
Buildings and Improvements	3,992
Total	4,296
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	304
Building and Improvements	3,263
Total	3,567
Accumulated Depreciation and Amortization	$ (1,650)
Life on Which Depreciation in Latest Income Statement is Computed	46 years
Senior Housing - Leased \| Green Bay, WI
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	256
Buildings and Improvements	2,262
Total	2,518
Cost Capitalized Subsequent to Acquisition	1,032
Gross Amount at which Carried at Close of Period
Land	256
Building and Improvements	1,976
Total	2,232
Accumulated Depreciation and Amortization	$ (767)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Cadillac, MI
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	217
Buildings and Improvements	3,000
Total	3,217
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	217
Building and Improvements	2,920
Total	3,137
Accumulated Depreciation and Amortization	$ (910)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Greenville, MI
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	684
Buildings and Improvements	5,832
Total	6,516
Cost Capitalized Subsequent to Acquisition	249
Gross Amount at which Carried at Close of Period
Land	684
Building and Improvements	5,841
Total	6,525
Accumulated Depreciation and Amortization	$ (1,876)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Manistee, MI
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	952
Buildings and Improvements	2,578
Total	3,530
Cost Capitalized Subsequent to Acquisition	2,547
Gross Amount at which Carried at Close of Period
Land	952
Building and Improvements	5,076
Total	6,028
Accumulated Depreciation and Amortization	$ (1,970)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Mason, MI
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	198
Buildings and Improvements	4,131
Total	4,329
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	198
Building and Improvements	4,032
Total	4,230
Accumulated Depreciation and Amortization	$ (1,323)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Alpena, MI
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	546
Buildings and Improvements	13,139
Total	13,685
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	546
Building and Improvements	13,000
Total	13,546
Accumulated Depreciation and Amortization	$ (3,763)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Fremont, NE
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	504
Buildings and Improvements	17,670
Total	18,174
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	504
Building and Improvements	17,670
Total	18,174
Accumulated Depreciation and Amortization	$ (5,020)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Norfolk, NE
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	217
Buildings and Improvements	9,906
Total	10,123
Cost Capitalized Subsequent to Acquisition	4,680
Gross Amount at which Carried at Close of Period
Land	217
Building and Improvements	14,586
Total	14,803
Accumulated Depreciation and Amortization	$ (4,284)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Fort Wayne, IN
Real Estate and Accumulated Depreciation
Encumbrances	$ 12,183
Initial Cost to Company
Land	2,300
Buildings and Improvements	21,115
Total	23,415
Cost Capitalized Subsequent to Acquisition	2,747
Gross Amount at which Carried at Close of Period
Land	2,300
Building and Improvements	23,846
Total	26,146
Accumulated Depreciation and Amortization	$ (7,799)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Brandon, FL
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,283
Buildings and Improvements	8,424
Total	9,707
Cost Capitalized Subsequent to Acquisition	483
Gross Amount at which Carried at Close of Period
Land	1,283
Building and Improvements	8,722
Total	10,005
Accumulated Depreciation and Amortization	$ (2,532)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Lecanto, FL
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,031
Buildings and Improvements	5,577
Total	6,608
Cost Capitalized Subsequent to Acquisition	615
Gross Amount at which Carried at Close of Period
Land	1,023
Building and Improvements	6,053
Total	7,076
Accumulated Depreciation and Amortization	$ (2,026)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Zephyrhills, FL
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,688
Buildings and Improvements	9,098
Total	10,786
Cost Capitalized Subsequent to Acquisition	360
Gross Amount at which Carried at Close of Period
Land	1,688
Building and Improvements	9,343
Total	11,031
Accumulated Depreciation and Amortization	$ (2,924)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Sun City West, AZ
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	930
Buildings and Improvements	9,170
Total	10,100
Cost Capitalized Subsequent to Acquisition	248
Gross Amount at which Carried at Close of Period
Land	930
Building and Improvements	9,418
Total	10,348
Accumulated Depreciation and Amortization	$ (2,188)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Fredericksburg, VA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,379
Buildings and Improvements	21,209
Total	22,588
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,379
Building and Improvements	21,209
Total	22,588
Accumulated Depreciation and Amortization	$ (4,644)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Round Rock, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	679
Buildings and Improvements	13,642
Total	14,321
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	679
Building and Improvements	13,642
Total	14,321
Accumulated Depreciation and Amortization	$ (3,035)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Santa Fe, NM 1
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,866
Buildings and Improvements	19,441
Total	21,307
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,157
Building and Improvements	21,736
Total	23,893
Accumulated Depreciation and Amortization	$ (4,587)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Santa Fe, NM 2
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	670
Buildings and Improvements	7,743
Total	8,413
Cost Capitalized Subsequent to Acquisition	430
Gross Amount at which Carried at Close of Period
Land	670
Building and Improvements	8,571
Total	9,241
Accumulated Depreciation and Amortization	$ (810)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Franklin, NH
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	292
Buildings and Improvements	6,889
Total	7,181
Cost Capitalized Subsequent to Acquisition	211
Gross Amount at which Carried at Close of Period
Land	292
Building and Improvements	7,110
Total	7,402
Accumulated Depreciation and Amortization	$ (1,700)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Henderson, NV
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,430
Buildings and Improvements	21,850
Total	23,280
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,430
Building and Improvements	21,862
Total	23,292
Accumulated Depreciation and Amortization	$ (4,411)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Brenham, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	476
Buildings and Improvements	11,912
Total	12,388
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	476
Building and Improvements	11,922
Total	12,398
Accumulated Depreciation and Amortization	$ (2,753)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Cedar Park, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,035
Buildings and Improvements	13,127
Total	14,162
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,035
Building and Improvements	13,127
Total	14,162
Accumulated Depreciation and Amortization	$ (2,546)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Keizer, OR
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,220
Buildings and Improvements	31,783
Total	33,003
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,220
Building and Improvements	31,783
Total	33,003
Accumulated Depreciation and Amortization	$ (5,435)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Lawrence, KS
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	584
Buildings and Improvements	4,431
Total	5,015
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	584
Building and Improvements	4,431
Total	5,015
Accumulated Depreciation and Amortization	$ (849)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Lafayette, CO
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,085
Buildings and Improvements	19,243
Total	20,328
Cost Capitalized Subsequent to Acquisition	9
Gross Amount at which Carried at Close of Period
Land	1,883
Building and Improvements	19,205
Total	21,088
Accumulated Depreciation and Amortization	$ (3,382)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Winnebago, IL
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	263
Buildings and Improvements	3,743
Total	4,006
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	263
Building and Improvements	3,743
Total	4,006
Accumulated Depreciation and Amortization	$ (707)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Pewaukee, WI 1
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,019
Buildings and Improvements	3,606
Total	4,625
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,019
Building and Improvements	3,606
Total	4,625
Accumulated Depreciation and Amortization	$ (635)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Pewaukee, WI 2
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	661
Buildings and Improvements	5,680
Total	6,341
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	661
Building and Improvements	5,680
Total	6,341
Accumulated Depreciation and Amortization	$ (923)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Sarasota, FL
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,440
Buildings and Improvements	22,541
Total	23,981
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,440
Building and Improvements	22,541
Total	23,981
Accumulated Depreciation and Amortization	$ (3,495)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Knoxville, TN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,603
Buildings and Improvements	9,219
Total	10,822
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,603
Building and Improvements	9,219
Total	10,822
Accumulated Depreciation and Amortization	$ (1,651)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Shavano Park, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,131
Buildings and Improvements	11,541
Total	13,672
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,131
Building and Improvements	11,541
Total	13,672
Accumulated Depreciation and Amortization	$ (1,890)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Beavercreek, OH
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,622
Buildings and Improvements	24,215
Total	25,837
Cost Capitalized Subsequent to Acquisition	7,561
Gross Amount at which Carried at Close of Period
Land	1,622
Building and Improvements	31,773
Total	33,395
Accumulated Depreciation and Amortization	$ (5,805)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| McCordsville, IN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,587
Buildings and Improvements	31,315
Total	32,902
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,587
Building and Improvements	31,315
Total	32,902
Accumulated Depreciation and Amortization	$ (3,487)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Louisville, KY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,841
Buildings and Improvements	21,827
Total	23,668
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,841
Building and Improvements	21,827
Total	23,668
Accumulated Depreciation and Amortization	$ (2,359)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Sellersburg, IN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,060
Buildings and Improvements	28,702
Total	29,762
Cost Capitalized Subsequent to Acquisition	5,504
Gross Amount at which Carried at Close of Period
Land	1,060
Building and Improvements	34,206
Total	35,266
Accumulated Depreciation and Amortization	$ (3,336)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior Housing - Leased \| Jasper, IN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	657
Buildings and Improvements	25,226
Total	25,883
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	657
Building and Improvements	25,226
Total	25,883
Accumulated Depreciation and Amortization	$ (1,614)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	101,463
Buildings and Improvements	1,087,895
Total	1,189,358
Cost Capitalized Subsequent to Acquisition	38,355
Gross Amount at which Carried at Close of Period
Land	102,457
Building and Improvements	1,187,028
Total	1,289,485
Accumulated Depreciation and Amortization	(255,803)
Senior housing - managed portfolio \| Dover, DE
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	2,797
Buildings and Improvements	23,054
Total	25,851
Cost Capitalized Subsequent to Acquisition	456
Gross Amount at which Carried at Close of Period
Land	2,797
Building and Improvements	23,422
Total	26,219
Accumulated Depreciation and Amortization	$ (4,245)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Salem, OR
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,074
Buildings and Improvements	19,421
Total	20,495
Cost Capitalized Subsequent to Acquisition	451
Gross Amount at which Carried at Close of Period
Land	1,074
Building and Improvements	19,884
Total	20,958
Accumulated Depreciation and Amortization	$ (4,774)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Kansas City, MO
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,325
Buildings and Improvements	20,510
Total	21,835
Cost Capitalized Subsequent to Acquisition	923
Gross Amount at which Carried at Close of Period
Land	1,325
Building and Improvements	25,844
Total	27,169
Accumulated Depreciation and Amortization	$ (6,657)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| McKinney, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,760
Buildings and Improvements	44,397
Total	47,157
Cost Capitalized Subsequent to Acquisition	1,497
Gross Amount at which Carried at Close of Period
Land	2,760
Building and Improvements	49,615
Total	52,375
Accumulated Depreciation and Amortization	$ (12,854)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Winston-Salem, NC
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,995
Buildings and Improvements	24,428
Total	27,423
Cost Capitalized Subsequent to Acquisition	676
Gross Amount at which Carried at Close of Period
Land	2,995
Building and Improvements	26,841
Total	29,836
Accumulated Depreciation and Amortization	$ (7,132)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Frankenmuth, MI
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	5,027
Buildings and Improvements	20,929
Total	25,956
Cost Capitalized Subsequent to Acquisition	637
Gross Amount at which Carried at Close of Period
Land	5,027
Building and Improvements	21,170
Total	26,197
Accumulated Depreciation and Amortization	$ (6,342)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Gaylord, MI
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,024
Buildings and Improvements	5,467
Total	7,491
Cost Capitalized Subsequent to Acquisition	141
Gross Amount at which Carried at Close of Period
Land	2,024
Building and Improvements	5,583
Total	7,607
Accumulated Depreciation and Amortization	$ (2,060)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| East Tawas, MI
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	258
Buildings and Improvements	3,713
Total	3,971
Cost Capitalized Subsequent to Acquisition	399
Gross Amount at which Carried at Close of Period
Land	258
Building and Improvements	3,984
Total	4,242
Accumulated Depreciation and Amortization	$ (1,551)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Marshfield, WI
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	574
Buildings and Improvements	8,733
Total	9,307
Cost Capitalized Subsequent to Acquisition	220
Gross Amount at which Carried at Close of Period
Land	574
Building and Improvements	8,803
Total	9,377
Accumulated Depreciation and Amortization	$ (2,623)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Woodstock, VA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	597
Buildings and Improvements	5,465
Total	6,062
Cost Capitalized Subsequent to Acquisition	117
Gross Amount at which Carried at Close of Period
Land	597
Building and Improvements	5,448
Total	6,045
Accumulated Depreciation and Amortization	$ (1,538)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Allen, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,190
Buildings and Improvements	45,767
Total	47,957
Cost Capitalized Subsequent to Acquisition	948
Gross Amount at which Carried at Close of Period
Land	2,190
Building and Improvements	50,510
Total	52,700
Accumulated Depreciation and Amortization	$ (12,723)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Gainesville, FL
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,139
Buildings and Improvements	44,789
Total	46,928
Cost Capitalized Subsequent to Acquisition	1,562
Gross Amount at which Carried at Close of Period
Land	2,139
Building and Improvements	49,736
Total	51,875
Accumulated Depreciation and Amortization	$ (13,797)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Raleigh, NC
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,344
Buildings and Improvements	37,506
Total	39,850
Cost Capitalized Subsequent to Acquisition	1,749
Gross Amount at which Carried at Close of Period
Land	2,344
Building and Improvements	43,072
Total	45,416
Accumulated Depreciation and Amortization	$ (10,650)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| San Luis Obispo, CA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	4,992
Buildings and Improvements	30,909
Total	35,901
Cost Capitalized Subsequent to Acquisition	1,117
Gross Amount at which Carried at Close of Period
Land	4,992
Building and Improvements	35,062
Total	40,054
Accumulated Depreciation and Amortization	$ (9,094)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Longview, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	805
Buildings and Improvements	26,498
Total	27,303
Cost Capitalized Subsequent to Acquisition	824
Gross Amount at which Carried at Close of Period
Land	805
Building and Improvements	27,972
Total	28,777
Accumulated Depreciation and Amortization	$ (7,930)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Yuma, AZ
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	530
Buildings and Improvements	21,775
Total	22,305
Cost Capitalized Subsequent to Acquisition	484
Gross Amount at which Carried at Close of Period
Land	530
Building and Improvements	22,678
Total	23,208
Accumulated Depreciation and Amortization	$ (6,226)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Nashville, TN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,996
Buildings and Improvements	19,368
Total	21,364
Cost Capitalized Subsequent to Acquisition	1,227
Gross Amount at which Carried at Close of Period
Land	1,996
Building and Improvements	21,607
Total	23,603
Accumulated Depreciation and Amortization	$ (6,530)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Branford, CT
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,403
Buildings and Improvements	18,821
Total	21,224
Cost Capitalized Subsequent to Acquisition	732
Gross Amount at which Carried at Close of Period
Land	2,403
Building and Improvements	22,939
Total	25,342
Accumulated Depreciation and Amortization	$ (5,668)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Richmond, VA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,080
Buildings and Improvements	19,545
Total	20,625
Cost Capitalized Subsequent to Acquisition	1,602
Gross Amount at which Carried at Close of Period
Land	1,080
Building and Improvements	23,606
Total	24,686
Accumulated Depreciation and Amortization	$ (6,296)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Auburn, AL
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,209
Buildings and Improvements	17,326
Total	20,535
Cost Capitalized Subsequent to Acquisition	516
Gross Amount at which Carried at Close of Period
Land	3,209
Building and Improvements	18,482
Total	21,691
Accumulated Depreciation and Amortization	$ (5,259)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Menomonee Falls, WI
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,477
Buildings and Improvements	18,778
Total	20,255
Cost Capitalized Subsequent to Acquisition	426
Gross Amount at which Carried at Close of Period
Land	1,477
Building and Improvements	20,272
Total	21,749
Accumulated Depreciation and Amortization	$ (5,690)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Glenville, NY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	978
Buildings and Improvements	18,257
Total	19,235
Cost Capitalized Subsequent to Acquisition	571
Gross Amount at which Carried at Close of Period
Land	978
Building and Improvements	19,711
Total	20,689
Accumulated Depreciation and Amortization	$ (5,564)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Eustis, FL
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,152
Buildings and Improvements	17,523
Total	18,675
Cost Capitalized Subsequent to Acquisition	606
Gross Amount at which Carried at Close of Period
Land	1,152
Building and Improvements	18,811
Total	19,963
Accumulated Depreciation and Amortization	$ (5,669)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Phoenix, AZ
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,567
Buildings and Improvements	12,029
Total	14,596
Cost Capitalized Subsequent to Acquisition	983
Gross Amount at which Carried at Close of Period
Land	2,567
Building and Improvements	13,881
Total	16,448
Accumulated Depreciation and Amortization	$ (4,425)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Jonesboro, AR
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,782
Buildings and Improvements	11,244
Total	13,026
Cost Capitalized Subsequent to Acquisition	373
Gross Amount at which Carried at Close of Period
Land	1,782
Building and Improvements	12,326
Total	14,108
Accumulated Depreciation and Amortization	$ (3,705)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Ogden, UT
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	794
Buildings and Improvements	10,873
Total	11,667
Cost Capitalized Subsequent to Acquisition	798
Gross Amount at which Carried at Close of Period
Land	794
Building and Improvements	12,673
Total	13,467
Accumulated Depreciation and Amortization	$ (3,764)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Olympia, WA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,477
Buildings and Improvements	23,767
Total	26,244
Cost Capitalized Subsequent to Acquisition	923
Gross Amount at which Carried at Close of Period
Land	2,477
Building and Improvements	27,924
Total	30,401
Accumulated Depreciation and Amortization	$ (7,326)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Windsor, ON
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,360
Buildings and Improvements	16,855
Total	18,215
Cost Capitalized Subsequent to Acquisition	526
Gross Amount at which Carried at Close of Period
Land	1,378
Building and Improvements	18,359
Total	19,737
Accumulated Depreciation and Amortization	$ (4,576)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| London, ON
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	960
Buildings and Improvements	19,056
Total	20,016
Cost Capitalized Subsequent to Acquisition	368
Gross Amount at which Carried at Close of Period
Land	972
Building and Improvements	20,408
Total	21,380
Accumulated Depreciation and Amortization	$ (4,954)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Kelowna, BC
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,321
Buildings and Improvements	8,308
Total	10,629
Cost Capitalized Subsequent to Acquisition	626
Gross Amount at which Carried at Close of Period
Land	2,352
Building and Improvements	9,846
Total	12,198
Accumulated Depreciation and Amortization	$ (2,639)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Waterloo, ON
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,823
Buildings and Improvements	22,135
Total	23,958
Cost Capitalized Subsequent to Acquisition	380
Gross Amount at which Carried at Close of Period
Land	1,848
Building and Improvements	23,213
Total	25,061
Accumulated Depreciation and Amortization	$ (5,546)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Sarnia, ON
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,187
Buildings and Improvements	20,346
Total	21,533
Cost Capitalized Subsequent to Acquisition	740
Gross Amount at which Carried at Close of Period
Land	1,203
Building and Improvements	22,905
Total	24,108
Accumulated Depreciation and Amortization	$ (5,273)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Kamloops, BC
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	679
Buildings and Improvements	8,024
Total	8,703
Cost Capitalized Subsequent to Acquisition	250
Gross Amount at which Carried at Close of Period
Land	687
Building and Improvements	9,040
Total	9,727
Accumulated Depreciation and Amortization	$ (2,332)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Vernon, BC
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	843
Buildings and Improvements	10,724
Total	11,567
Cost Capitalized Subsequent to Acquisition	236
Gross Amount at which Carried at Close of Period
Land	273
Building and Improvements	11,643
Total	11,916
Accumulated Depreciation and Amortization	$ (2,829)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Penticton, BC
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	763
Buildings and Improvements	6,771
Total	7,534
Cost Capitalized Subsequent to Acquisition	239
Gross Amount at which Carried at Close of Period
Land	773
Building and Improvements	7,940
Total	8,713
Accumulated Depreciation and Amortization	$ (2,058)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Calgary, AB
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,908
Buildings and Improvements	20,996
Total	24,904
Cost Capitalized Subsequent to Acquisition	1,077
Gross Amount at which Carried at Close of Period
Land	3,963
Building and Improvements	22,749
Total	26,712
Accumulated Depreciation and Amortization	$ (5,259)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Lake Stevens, WA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,559
Buildings and Improvements	9,059
Total	10,618
Cost Capitalized Subsequent to Acquisition	96
Gross Amount at which Carried at Close of Period
Land	1,559
Building and Improvements	9,168
Total	10,727
Accumulated Depreciation and Amortization	$ (2,349)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Eugene, OR
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,428
Buildings and Improvements	16,138
Total	17,566
Cost Capitalized Subsequent to Acquisition	143
Gross Amount at which Carried at Close of Period
Land	1,428
Building and Improvements	16,303
Total	17,731
Accumulated Depreciation and Amortization	$ (3,690)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Tualatin, OR
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	527
Buildings and Improvements	14,659
Total	15,186
Cost Capitalized Subsequent to Acquisition	138
Gross Amount at which Carried at Close of Period
Land	527
Building and Improvements	14,852
Total	15,379
Accumulated Depreciation and Amortization	$ (3,364)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Ramsey, MN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,182
Buildings and Improvements	13,280
Total	14,462
Cost Capitalized Subsequent to Acquisition	208
Gross Amount at which Carried at Close of Period
Land	1,182
Building and Improvements	13,783
Total	14,965
Accumulated Depreciation and Amortization	$ (2,627)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Marshfield, WI 1
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	500
Buildings and Improvements	4,134
Total	4,634
Cost Capitalized Subsequent to Acquisition	89
Gross Amount at which Carried at Close of Period
Land	500
Building and Improvements	4,263
Total	4,763
Accumulated Depreciation and Amortization	$ (923)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Charleston, WV
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	419
Buildings and Improvements	4,239
Total	4,658
Cost Capitalized Subsequent to Acquisition	1,008
Gross Amount at which Carried at Close of Period
Land	419
Building and Improvements	5,066
Total	5,485
Accumulated Depreciation and Amortization	$ (1,302)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Williamsport, PA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	296
Buildings and Improvements	9,191
Total	9,487
Cost Capitalized Subsequent to Acquisition	907
Gross Amount at which Carried at Close of Period
Land	296
Building and Improvements	9,973
Total	10,269
Accumulated Depreciation and Amortization	$ (2,001)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Reading, PA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	684
Buildings and Improvements	12,950
Total	13,634
Cost Capitalized Subsequent to Acquisition	276
Gross Amount at which Carried at Close of Period
Land	684
Building and Improvements	13,201
Total	13,885
Accumulated Depreciation and Amortization	$ (2,475)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Scott Depot, WV
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	230
Buildings and Improvements	6,271
Total	6,501
Cost Capitalized Subsequent to Acquisition	713
Gross Amount at which Carried at Close of Period
Land	230
Building and Improvements	6,767
Total	6,997
Accumulated Depreciation and Amortization	$ (1,444)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Clarks Summit, PA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	406
Buildings and Improvements	9,471
Total	9,877
Cost Capitalized Subsequent to Acquisition	1,271
Gross Amount at which Carried at Close of Period
Land	406
Building and Improvements	10,524
Total	10,930
Accumulated Depreciation and Amortization	$ (2,264)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Wyncote, PA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,781
Buildings and Improvements	4,911
Total	6,692
Cost Capitalized Subsequent to Acquisition	814
Gross Amount at which Carried at Close of Period
Land	1,781
Building and Improvements	5,517
Total	7,298
Accumulated Depreciation and Amortization	$ (1,345)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Douglassville, PA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	611
Buildings and Improvements	19,083
Total	19,694
Cost Capitalized Subsequent to Acquisition	356
Gross Amount at which Carried at Close of Period
Land	611
Building and Improvements	19,367
Total	19,978
Accumulated Depreciation and Amortization	$ (3,418)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Milford, DE
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,199
Buildings and Improvements	18,786
Total	19,985
Cost Capitalized Subsequent to Acquisition	589
Gross Amount at which Carried at Close of Period
Land	1,199
Building and Improvements	19,231
Total	20,430
Accumulated Depreciation and Amortization	$ (3,476)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Oak Hill, WV
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	609
Buildings and Improvements	2,636
Total	3,245
Cost Capitalized Subsequent to Acquisition	1,157
Gross Amount at which Carried at Close of Period
Land	609
Building and Improvements	3,703
Total	4,312
Accumulated Depreciation and Amortization	$ (1,053)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Lewisburg, WV
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	355
Buildings and Improvements	5,055
Total	5,410
Cost Capitalized Subsequent to Acquisition	677
Gross Amount at which Carried at Close of Period
Land	355
Building and Improvements	5,449
Total	5,804
Accumulated Depreciation and Amortization	$ (1,227)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Strasburg, VA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	666
Buildings and Improvements	5,551
Total	6,217
Cost Capitalized Subsequent to Acquisition	22
Gross Amount at which Carried at Close of Period
Land	666
Building and Improvements	5,573
Total	6,239
Accumulated Depreciation and Amortization	$ (931)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Richardson, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,282
Buildings and Improvements	10,556
Total	12,838
Cost Capitalized Subsequent to Acquisition	1,288
Gross Amount at which Carried at Close of Period
Land	2,282
Building and Improvements	11,934
Total	14,216
Accumulated Depreciation and Amortization	$ (1,673)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Poway, CA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,693
Buildings and Improvements	14,467
Total	18,160
Cost Capitalized Subsequent to Acquisition	1,072
Gross Amount at which Carried at Close of Period
Land	3,693
Building and Improvements	15,688
Total	19,381
Accumulated Depreciation and Amortization	$ (1,915)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| New Braunfels, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,312
Buildings and Improvements	23,108
Total	24,420
Cost Capitalized Subsequent to Acquisition	360
Gross Amount at which Carried at Close of Period
Land	1,312
Building and Improvements	23,664
Total	24,976
Accumulated Depreciation and Amortization	$ (2,871)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Augusta, GA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	419
Buildings and Improvements	24,958
Total	25,377
Cost Capitalized Subsequent to Acquisition	94
Gross Amount at which Carried at Close of Period
Land	459
Building and Improvements	28,548
Total	29,007
Accumulated Depreciation and Amortization	$ (2,343)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Anchorage, AK
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,965
Buildings and Improvements	29,533
Total	31,498
Cost Capitalized Subsequent to Acquisition	150
Gross Amount at which Carried at Close of Period
Land	1,965
Building and Improvements	29,683
Total	31,648
Accumulated Depreciation and Amortization	$ (2,304)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Loveland, OH
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,691
Buildings and Improvements	21,168
Total	24,859
Cost Capitalized Subsequent to Acquisition	41
Gross Amount at which Carried at Close of Period
Land	3,691
Building and Improvements	21,269
Total	24,960
Accumulated Depreciation and Amortization	$ (1,220)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Indianapolis, IN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	4,950
Buildings and Improvements	32,631
Total	37,581
Cost Capitalized Subsequent to Acquisition	43
Gross Amount at which Carried at Close of Period
Land	6,299
Building and Improvements	41,563
Total	47,862
Accumulated Depreciation and Amortization	$ (1,674)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Saginaw, MI
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,651
Buildings and Improvements	29,283
Total	30,934
Cost Capitalized Subsequent to Acquisition	1,440
Gross Amount at which Carried at Close of Period
Land	1,651
Building and Improvements	31,289
Total	32,940
Accumulated Depreciation and Amortization	$ (1,247)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Senior housing - managed portfolio \| Madeira, OH
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,858
Buildings and Improvements	42,670
Total	45,528
Cost Capitalized Subsequent to Acquisition	3
Gross Amount at which Carried at Close of Period
Land	2,858
Building and Improvements	42,691
Total	45,549
Accumulated Depreciation and Amortization	$ (1,109)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Behavioral Health
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	57,718
Buildings and Improvements	365,403
Total	423,121
Cost Capitalized Subsequent to Acquisition	73,823
Gross Amount at which Carried at Close of Period
Land	57,718
Building and Improvements	439,019
Total	496,737
Accumulated Depreciation and Amortization	(71,943)
Behavioral Health \| Morrilton, AR
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	508
Buildings and Improvements	0
Total	508
Cost Capitalized Subsequent to Acquisition	3,169
Gross Amount at which Carried at Close of Period
Land	508
Building and Improvements	3,169
Total	3,677
Accumulated Depreciation and Amortization	$ (98)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Behavioral Health \| New London, CT
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	356
Buildings and Improvements	152
Total	508
Cost Capitalized Subsequent to Acquisition	3,665
Gross Amount at which Carried at Close of Period
Land	356
Building and Improvements	3,817
Total	4,173
Accumulated Depreciation and Amortization	$ (746)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Behavioral Health \| Elizabethtown, KY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	239
Buildings and Improvements	4,853
Total	5,092
Cost Capitalized Subsequent to Acquisition	699
Gross Amount at which Carried at Close of Period
Land	239
Building and Improvements	5,552
Total	5,791
Accumulated Depreciation and Amortization	$ (971)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Behavioral Health \| Louisville, KY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,078
Buildings and Improvements	8,305
Total	9,383
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,078
Building and Improvements	8,305
Total	9,383
Accumulated Depreciation and Amortization	$ (1,153)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Behavioral Health \| Aurora, CO
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,874
Buildings and Improvements	12,829
Total	15,703
Cost Capitalized Subsequent to Acquisition	1,950
Gross Amount at which Carried at Close of Period
Land	2,874
Building and Improvements	14,563
Total	17,437
Accumulated Depreciation and Amortization	$ (3,931)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Behavioral Health \| Colorado Springs, CO 1
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	430
Buildings and Improvements	13,703
Total	14,133
Cost Capitalized Subsequent to Acquisition	1,033
Gross Amount at which Carried at Close of Period
Land	430
Building and Improvements	14,736
Total	15,166
Accumulated Depreciation and Amortization	$ (4,445)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Behavioral Health \| Colorado Springs, CO 2
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,210
Buildings and Improvements	9,490
Total	10,700
Cost Capitalized Subsequent to Acquisition	2,058
Gross Amount at which Carried at Close of Period
Land	1,210
Building and Improvements	11,548
Total	12,758
Accumulated Depreciation and Amortization	$ (2,326)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Behavioral Health \| Bluffton, IN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	254
Buildings and Improvements	5,105
Total	5,359
Cost Capitalized Subsequent to Acquisition	1,486
Gross Amount at which Carried at Close of Period
Land	254
Building and Improvements	6,591
Total	6,845
Accumulated Depreciation and Amortization	$ (1,364)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Behavioral Health \| Glendale, AZ
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,501
Buildings and Improvements	67,046
Total	68,547
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,501
Building and Improvements	67,046
Total	68,547
Accumulated Depreciation and Amortization	$ (11,140)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Behavioral Health \| Tempe, AZ
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,137
Buildings and Improvements	50,073
Total	53,210
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	3,137
Building and Improvements	50,073
Total	53,210
Accumulated Depreciation and Amortization	$ (8,505)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Behavioral Health \| Covina, CA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	23,472
Buildings and Improvements	71,542
Total	95,014
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	23,472
Building and Improvements	71,542
Total	95,014
Accumulated Depreciation and Amortization	$ (12,348)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Behavioral Health \| Ventura, CA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	8,089
Buildings and Improvements	43,645
Total	51,734
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	8,089
Building and Improvements	43,645
Total	51,734
Accumulated Depreciation and Amortization	$ (8,190)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Behavioral Health \| San Diego, CA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	8,403
Buildings and Improvements	55,015
Total	63,418
Cost Capitalized Subsequent to Acquisition	7,599
Gross Amount at which Carried at Close of Period
Land	8,403
Building and Improvements	62,614
Total	71,017
Accumulated Depreciation and Amortization	$ (11,947)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Behavioral Health \| Carmel, IN
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	963
Buildings and Improvements	4,347
Total	5,310
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	963
Building and Improvements	4,347
Total	5,310
Accumulated Depreciation and Amortization	$ (680)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Behavioral Health \| Monroeville, PA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,034
Buildings and Improvements	1,758
Total	3,792
Cost Capitalized Subsequent to Acquisition	18,545
Gross Amount at which Carried at Close of Period
Land	2,034
Building and Improvements	20,303
Total	22,337
Accumulated Depreciation and Amortization	$ (2,869)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Behavioral Health \| Gulf Breeze, FL
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	498
Buildings and Improvements	1,480
Total	1,978
Cost Capitalized Subsequent to Acquisition	3,733
Gross Amount at which Carried at Close of Period
Land	498
Building and Improvements	5,213
Total	5,711
Accumulated Depreciation and Amortization	$ (139)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Behavioral Health \| Greenville, SC
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,197
Buildings and Improvements	9,496
Total	10,693
Cost Capitalized Subsequent to Acquisition	21,507
Gross Amount at which Carried at Close of Period
Land	1,197
Building and Improvements	31,012
Total	32,209
Accumulated Depreciation and Amortization	$ (574)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Behavioral Health \| Raytown, MO
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,475
Buildings and Improvements	6,564
Total	8,039
Cost Capitalized Subsequent to Acquisition	8,379
Gross Amount at which Carried at Close of Period
Land	1,475
Building and Improvements	14,943
Total	16,418
Accumulated Depreciation and Amortization	$ (517)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	20,434
Buildings and Improvements	204,759
Total	225,193
Cost Capitalized Subsequent to Acquisition	314
Gross Amount at which Carried at Close of Period
Land	20,434
Building and Improvements	205,009
Total	225,443
Accumulated Depreciation and Amortization	(47,454)
Specialty Hospitals and Other \| Arlington, TX
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost to Company
Land	0
Buildings and Improvements	44,217
Total	44,217
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	0
Building and Improvements	44,217
Total	44,217
Accumulated Depreciation and Amortization	$ (7,195)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other \| Conroe, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,935
Buildings and Improvements	25,003
Total	27,938
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	2,935
Building and Improvements	25,003
Total	27,938
Accumulated Depreciation and Amortization	$ (4,600)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other \| Orange, CA
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	2,060
Buildings and Improvements	5,538
Total	7,598
Cost Capitalized Subsequent to Acquisition	145
Gross Amount at which Carried at Close of Period
Land	2,060
Building and Improvements	5,683
Total	7,743
Accumulated Depreciation and Amortization	$ (986)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other \| Houston, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,001
Buildings and Improvements	14,581
Total	17,582
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	3,001
Building and Improvements	14,581
Total	17,582
Accumulated Depreciation and Amortization	$ (2,416)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other \| Sunnyvale, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	4,020
Buildings and Improvements	57,620
Total	61,640
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	4,020
Building and Improvements	57,620
Total	61,640
Accumulated Depreciation and Amortization	$ (22,152)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other \| Spring, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	1,319
Buildings and Improvements	15,153
Total	16,472
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	1,319
Building and Improvements	15,153
Total	16,472
Accumulated Depreciation and Amortization	$ (2,516)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other \| Maxwell, TX 1
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	902
Buildings and Improvements	2,384
Total	3,286
Cost Capitalized Subsequent to Acquisition	1
Gross Amount at which Carried at Close of Period
Land	902
Building and Improvements	2,384
Total	3,286
Accumulated Depreciation and Amortization	$ (458)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other \| Maxwell, TX 2
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	901
Buildings and Improvements	1,198
Total	2,099
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	901
Building and Improvements	1,198
Total	2,099
Accumulated Depreciation and Amortization	$ (278)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other \| Maxwell, TX 3
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	456
Buildings and Improvements	2,632
Total	3,088
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	456
Building and Improvements	2,632
Total	3,088
Accumulated Depreciation and Amortization	$ (477)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other \| San Marcos, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	51
Buildings and Improvements	359
Total	410
Cost Capitalized Subsequent to Acquisition	62
Gross Amount at which Carried at Close of Period
Land	51
Building and Improvements	359
Total	410
Accumulated Depreciation and Amortization	$ (67)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other \| Seguin, TX 1
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	539
Buildings and Improvements	2,627
Total	3,166
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	539
Building and Improvements	2,627
Total	3,166
Accumulated Depreciation and Amortization	$ (605)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other \| Seguin, TX 2
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	228
Buildings and Improvements	3,407
Total	3,635
Cost Capitalized Subsequent to Acquisition	79
Gross Amount at which Carried at Close of Period
Land	228
Building and Improvements	3,486
Total	3,714
Accumulated Depreciation and Amortization	$ (669)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other \| Kingsbury, TX
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	104
Buildings and Improvements	2,788
Total	2,892
Cost Capitalized Subsequent to Acquisition	27
Gross Amount at which Carried at Close of Period
Land	104
Building and Improvements	2,814
Total	2,918
Accumulated Depreciation and Amortization	$ (495)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other \| Seguin, TX 3
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	52
Buildings and Improvements	805
Total	857
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	52
Building and Improvements	805
Total	857
Accumulated Depreciation and Amortization	$ (154)
Life on Which Depreciation in Latest Income Statement is Computed	40 years
Specialty Hospitals and Other \| Florence, KY
Real Estate and Accumulated Depreciation
Encumbrances	$ 0
Initial Cost to Company
Land	3,866
Buildings and Improvements	26,447
Total	30,313
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period
Land	3,866
Building and Improvements	26,447
Total	30,313
Accumulated Depreciation and Amortization	$ (4,386)
Life on Which Depreciation in Latest Income Statement is Computed	40 years

SCHEDULE III - REAL ESTATE AS_3

SCHEDULE III - REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION - Rollforward of Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Real estate:
Balance at the beginning of the year	$ 5,872,688	$ 5,994,208	$ 5,966,695
Acquisitions	86,626	101,413	96,157
Improvements	86,073	65,111	47,319
Impairment	(18,853)	(160,550)	(11,063)
Sale of real estate	(379,272)	(110,901)	(102,575)
Foreign currency translation	3,394	(10,247)	524
Other	(12,309)	(6,346)	(2,849)
Balance at the end of the year	5,638,347	5,872,688	5,994,208
Accumulated depreciation:
Balance at the beginning of the year	(913,345)	(831,324)	(681,657)
Depreciation expense	(171,278)	(170,159)	(170,264)
Impairment	4,432	66,603	1,666
Sale of real estate	49,585	13,217	16,097
Foreign currency translation	(747)	1,972	(15)
Other	10,267	6,346	2,849
Balance at the end of the year	$ (1,021,086)	$ (913,345)	$ (831,324)

SCHEDULE IV - MORTGAGE LOANS _2

SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Principal Balance	$ 319,000	$ 319,000	$ 312,343
Aggregate cost for federal income tax purposes	321,200
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance at the beginning of the year	319,000	312,343	22,343
Additions during period:
Draws	0	10,000	0
New mortgage loans	0	0	290,000
Deductions during period:
Paydowns/repayments	0	(3,343)	0
Balance at the end of the year	319,000	$ 319,000	$ 312,343
Mortgages
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Prior Liens	0
Principal Balance	319,000
Book Value	319,000
Deductions during period:
Balance at the end of the year	$ 319,000
Mortgages \| River Vista
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Contractual Interest Rate	10%
Prior Liens	$ 0
Principal Balance	19,000
Book Value	19,000
Deductions during period:
Balance at the end of the year	$ 19,000
Mortgages \| Recovery Centers of America
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Contractual Interest Rate	7.50%
Prior Liens	$ 0
Principal Balance	300,000
Book Value	300,000
Deductions during period:
Balance at the end of the year	$ 300,000