

	For the Year Ended December 31, 2016
	Triple Net Leased Senior Living Communities			Managed Senior Living Communities			MOBs			All Other Operations			Consolidated
Revenues:
Rental income	$	275,697		$	—		$	372,233		$	18,270		$	666,200
Residents fees and services	—			391,822			—			—			391,822
Total revenues	275,697			391,822			372,233			18,270			1,058,022

Expenses:
Property operating expenses	833			293,195			105,762			—			399,790
Depreciation and amortization	78,361			81,482			124,196			3,792			287,831
General and administrative	—			—			—			46,559			46,559
Acquisition and certain other transaction related costs	—			—			—			2,085			2,085
Impairment of assets	6,583			2,174			7,122			2,795			18,674
Total expenses	85,777			376,851			237,080			55,231			754,939

Operating income (loss)	189,920			14,971			135,153			(36,961		)	303,083

Dividend income	—			—			—			2,108			2,108
Interest and other income	—			—			—			430			430
Interest expense	(24,795		)	(8,540		)	(13,852		)	(120,387		)	(167,574		)
Loss on early extinguishment of debt	(467		)	(59		)	—			—			(526		)
Income (loss) before income tax expense and equity in earnings of an investee	164,658			6,372			121,301			(154,810		)	137,521
Income tax expense	—			—			—			(424		)	(424		)
Equity in earnings of an investee	—			—			—			137			137
Income (loss) before gain on sale of properties	164,658			6,372			121,301			(155,097		)	137,234
Gain on sale of properties	4,061			—			—			—			4,061
Net income (loss)	$	168,719		$	6,372		$	121,301		$	(155,097	)	$	141,295

	As of December 31, 2016
	Triple Net Leased Senior Living Communities			Managed Senior Living Communities			MOBs			All Other Operations			Consolidated
Total assets	$	2,289,045		$	1,260,032		$	3,333,141		$	345,536		$	7,227,754



	For the Year Ended December 31, 2015
	Triple Net Leased Senior Living Communities			Managed Senior Living Communities			MOBs			All Other Operations			Consolidated
Revenues:
Rental income	$	256,035		$	—		$	356,586		$	18,278		$	630,899
Residents fees and services	—			367,874			—			—			367,874
Total revenues	256,035			367,874			356,586			18,278			998,773

Expenses:
Property operating expenses	—			278,242			99,337			—			377,579
Depreciation	70,417			60,600			122,974			3,792			257,783
General and administrative	—			—			—			42,830			42,830
Acquisition related costs	—			—			—			6,853			6,853
Impairment of assets	194			—			—			—			194
Total expenses	70,611			338,842			222,311			53,475			685,239

Operating income (loss)	185,424			29,032			134,275			(35,197		)	313,534

Dividend income	—			—			—			2,773			2,773
Interest and other income	—			—			—			379			379
Interest expense	(25,015		)	(9,973		)	(6,214		)	(109,679		)	(150,881		)
Loss on distribution to common shareholders of RMR common stock	—			—			—			(38,437		)	(38,437		)
Loss on early extinguishment of debt	(6		)	(34		)	(250		)	(1,604		)	(1,894		)
Income (loss) from continuing operations before income tax expense and equity in earnings of an investee	160,403			19,025			127,811			(181,765		)	125,474
Income tax expense	—			—			—			(574		)	(574		)
Equity in earnings of an investee	—			—			—			20			20
Income (loss) from continuing operations	160,403			19,025			127,811			(182,319		)	124,920
Discontinued Operations:
Loss from discontinued operations	—			—			(350		)	—			(350		)
Loss on impairment of assets from discontinued operations	—			—			(602		)	—			(602		)
Net income (loss)	$	160,403		$	19,025		$	126,859		$	(182,319	)	$	123,968

	As of December 31, 2015
	Triple Net Leased Senior Living Communities			Managed Senior Living Communities			MOBs			All Other Operations			Consolidated
Total assets	$	2,251,212		$	1,260,425		$	3,362,214		$	286,239		$	7,160,090



	For the Year Ended December 31, 2014
	Triple Net Leased Senior Living Communities			Managed Senior Living Communities			MOBs			All Other Operations			Consolidated
Revenues:
Rental income	$	230,718		$	—		$	278,041		$	17,944		$	526,703
Residents fees and services	—			318,184			—			—			318,184
Total revenues	230,718			318,184			278,041			17,944			844,887

Expenses:
Property operating expenses	—			245,093			79,471			—			324,564
Depreciation	61,825			32,462			87,312			3,792			185,391
General and administrative	—			—			—			38,946			38,946
Acquisition related costs	—			—			—			4,607			4,607
Impairment of assets	(10		)	—			—			—			(10		)
Total expenses	61,815			277,555			166,783			47,345			553,498

Operating income (loss)	168,903			40,629			111,258			(29,401		)	291,389

Dividend income	—			—			—			63			63
Interest and other income	—			—			—			362			362
Interest expense	(25,473		)	(10,599		)	(5,844		)	(93,198		)	(135,114		)
Gain (loss) on early extinguishment of debt	128			(140		)	—			—			(12		)
Income (loss) from continuing operations before income tax expense and equity in earnings of an investee	143,558			29,890			105,414			(122,174		)	156,688
Income tax expense	—			—			—			(576		)	(576		)
Equity in earnings of an investee	—			—			—			87			87
Income (loss) from continuing operations	143,558			29,890			105,414			(122,663		)	156,199
Discontinued Operations:
Income from discontinued operations	—			—			1,362			—			1,362
Loss on impairment of assets from discontinued operations	—			—			(4,377		)	—			(4,377		)
Income (loss) before gain on sale of properties	143,558			29,890			102,399			(122,663		)	153,184
Gain on sale of properties	5,453			—			—			—			5,453
Net income (loss)	$	149,011		$	29,890		$	102,399		$	(122,663	)	$	158,637

	As of December 31, 2014
	Triple Net Leased Senior Living Communities			Managed Senior Living Communities			MOBs			All Other Operations			Consolidated
Total assets	$	1,777,684		$	961,618		$	2,922,623		$	280,005		$	5,941,930