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Customer Concentration

3 Months Ended

Sep. 30, 2012

8. Customer Concentration

The following table summarizes certain information about our customer concentration as of September 30, 2012 (dollars in thousands):

		Number of	Total		Percent of
Concentration by investment:⁽¹⁾		Properties⁽²⁾	Investment⁽²⁾		Investment⁽³⁾
	Genesis HealthCare Corporation	158	$	2,558,276	16%
	Merrill Gardens, LLC	48		1,095,029	7%
	Benchmark Senior Living	35		849,397	5%
	Brandywine Senior Living, LLC	26		722,623	5%
	Senior Living Communities, LLC	12		607,208	4%
	Remaining portfolio	699		9,953,324	63%
	Totals	978	$	15,785,857	100%

_____________________

Merrill Gardens and Benchmark are in our seniors housing operating segment whereas the other top five customers are in our seniors housing triple-net segment.
Excludes our share of investments in unconsolidated entities. Please see Note 7 for additional information.
Investments with our top five customers comprised 41% of total investments at December 31, 2011.

- Definition

The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.

+ References

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Reference 5: http://www.xbrl.org/2003/role/presentationRef

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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+ Details