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Customer Concentration
12 Months Ended
Dec. 31, 2011
Customer Concentration [Abstract]  
Customer Concentration

8. Customer Concentration

     The following table summarizes certain information about our customer concentration as of December 31, 2011 (dollars in thousands):

   Number of Total Percent of
Concentration by investment:(1) Properties Investment(2)  Investment(3)
 Genesis HealthCare, LLC 150 $ 2,466,243 18%
 Merrill Gardens, LLC 48   1,132,399 8%
 Benchmark Senior Living, LLC 35   883,681 6%
 Brandywine Senior Living, LLC 24   719,509 5%
 Senior Living Communities, LLC 12   604,079 4%
 Remaining portfolio 655   8,136,439 59%
 Totals 924 $ 13,942,350 100%

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  • 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 32% of total investments at December 31, 2010.