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Operating Real Estate (Tables)
12 Months Ended
Dec. 31, 2015
Real Estate [Abstract]  
Schedule of Operating Real Estate
The following table presents operating real estate, net as of December 31, 2015 and December 31, 2014 (dollars in thousands):
 
 
As of December 31,
 
 
2015
 
2014
Land
 
$
140,734

 
$
20,035

Land improvements
 
8,384

 

Buildings and improvements
 
664,555

 
235,544

Tenant improvements
 
1,522

 

Construction in progress
 
9,119

 
1,320

Furniture and fixtures
 
27,325

 
6,927

Subtotal
 
851,639

 
263,826

Less: Accumulated depreciation
 
(19,386
)
 
(4,417
)
Operating real estate, net
 
$
832,253

 
$
259,409

Schedule of Operating Real Estate Acquisitions
The following table summarizes operating real estate acquisitions for the year ended December 31, 2015 (dollars in thousands):
Acquisition Date
 
Type
 
Portfolio
 
Amount(1)
 
Properties
 
Units
 
Location
 
Financing
 
Companys Equity
 
Ownership Interest
 
Transaction Costs
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
June 2015
 
RIDEA(2)
 
Watermark Fountains
 
$
376,781

 
10
 
2,374
 
Various
 
$
236,456

 
$
153,535

 
97.0
%
 
$
4,439

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
June 2015
 
Net Lease
 
Watermark Fountains
 
278,312

 
6
 
1,261
 
Various
 
173,544

 
90,567

 
100
%
 
209

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Grand Total
 
 
$
655,093

 
16
 
3,635
 
 
 
$
410,000

 
$
244,102

 
 
 
$
4,648

_________________________________________________
(1)
Includes initial net purchase price allocation related to net intangibles, deferred costs, other assets, if any, and may be adjusted for subsequent capital expenditures and upon completion of the final purchase price allocation.
(2)
The Company holds Remainder Interests in the Watermark Fountains condominium units, subject to life estates and refund liabilities, which are included in other assets and other liabilities, respectively, on the consolidated balance sheet. Includes one property in which the Company holds a Remainder Interest in 20 condominium units.
Schedule of Final Allocation of Purchase Price of Assets and Liabilities Acquired
The following table presents the effect of such purchase price reclassifications on the consolidated balance sheet as of December 31, 2015 (dollars in thousands):
 
As Previously Disclosed(1)
 
Measurement-Period Adjustments
 
December 31, 2015
Operating real estate, net
$
693,980

 
$
(17,860
)
 
$
676,120

Deferred costs and intangible assets, net
38,680

 
17,145

 
55,825

Other assets(2)
27,315

 
1,013

 
28,328

Other liabilities(3)
(2,475
)
 
(298
)
 
(2,773
)
Total
$
757,500

 
$

 
$
757,500

_____________________________________________
(1)
Represents preliminary allocation of the purchase price of Watermark Fountains in 2015 and the Arbors Portfolio in 2014.
(2)
Primarily includes furniture and fixtures and Remainder Interests in condominium units.
(3)
Includes refund liabilities related to the Remainder Interests in condominium units.
The following table presents the final allocation of the purchase price of the assets acquired and liabilities issued upon the closing of the acquisition of Watermark Fountains portfolio in 2015 and the Arbors Portfolio in 2014 (dollars in thousands):
Assets:
 
 
Land and improvements
 
$
135,681

Buildings and improvements
 
540,439

Intangible assets(1)
 
55,825

Other assets(2)
 
28,328

Total assets acquired
 
$
760,273

Liabilities:
 
 
Mortgage notes payable
 
$
410,000

Other liabilities(3)
 
2,773

Total liabilities
 
412,773

Total NorthStar Healthcare Income, Inc. stockholders’ equity
 
343,619

Non-controlling interests
 
3,881

Total equity
 
347,500

Total liabilities and equity
 
$
760,273

_________________________________________________
(1)
Primarily includes in-place leases of $33.3 million and goodwill of $14.7 million. Goodwill was allocated entirely to the Company’s RIDEA acquisitions component within the real estate equity business segment.
(2)
Primarily includes furniture and fixtures and Remainder Interests in condominium units.
(3)
Includes refund liabilities related to the Remainder Interests in condominium units.
Summary of Pro Forma Amounts
The unaudited pro forma amounts were prepared for comparable purposes only and are not indicative of what actual consolidated results of operations of the Company would have been, nor are they indicative of the consolidated results of operations in the future and exclude transaction costs (dollars in thousands, except per share data):
 
 
Years Ended December 31,
 
 
2015
 
2014
Pro forma total revenues
 
$
150,878

 
$
129,068

Pro forma net income (loss) attributable to NorthStar Healthcare Income, Inc. common stockholders
 
(52,274
)
 
(31,572
)
Pro forma net income (loss) per share of common stock, basic/diluted
 
$
(0.40
)
 
$
(0.79
)
Schedule of Future Minimum Rents
The following table presents approximate future minimum rental income under noncancelable operating leases to be received over the next five years and thereafter as of December 31, 2015 are as follows (dollars in thousands):
Years Ending December 31,
 
 
2016
 
$
34,527

2017
 
35,784

2018
 
36,392

2019
 
37,302

2020
 
38,234

Thereafter
 
147,102

Total
 
$
329,341