Variable Interest Entity Disclosure

3 Months Ended

Mar. 31, 2016

Variable Interest Entity Disclosure [Abstract]

Variable Interest Entity Disclosure [Text Block]

19. VIE Disclosure

We have entered into certain joint ventures to own certain seniors housing and outpatient medical assets which are deemed to be variable interest entities for which we have concluded that we are the primary beneficiary based on a combination of operational control of the joint venture and the rights to receive residual returns or the obligation to absorb losses arising from the joint ventures. Except for capital contributions associated with the initial joint venture formations, the joint ventures have been and are expected to be funded from the ongoing operations of the underlying properties. Accordingly, such joint ventures have been consolidated, and the table below summarizes the balance sheets of consolidated variable interest entities in the aggregate:

(In thousands)		March 31, 2016		December 31, 2015
Assets
	Net real property owned	$	1,020,357	$	453,889
	Cash and cash equivalents		14,080		8,759
	Receivables and other assets		10,450		8,082
	Total assets(1)	$	1,044,887	$	470,730
		$
Liabilities and equity
	Secured debt	$	451,952	$	147,021
	Accrued expenses and other liabilities		12,845		7,732
	Redeemable noncontrolling interests		71,440		70,090
	Total equity		508,650		245,887
	Total liabilities and equity	$	1,044,887	$	470,730
(1)	Note that assets of the consolidated variable interest entities can only be used to settle obligations relating to such variable
	interest entities. Liabilities of the consolidated variable interest entities represent claims against the specific assets
	of the variable interest entities.