Real Estate (Tables)

12 Months Ended

Dec. 31, 2013

Real Estate [Abstract]

New Real Estate Investments [Table Text Block]

During the year ended December 31, 2013, we made the following real estate investments and commitments as described below (dollars in thousands):

Operator	Properties	Asset Class	Amount
Holiday Acquisition Holdings LLC	25	Senior Housing	$	492,959
Bickford Senior Living/RIDEA Structure	17	Senior Housing	137,459
National Healthcare Corporation	7	Skilled Nursing	37,417
Fundamental Long Term Care Holdings, LLC	2	Skilled Nursing	27,750
Chancellor Health Care, LLC	2	Senior Housing	17,000
Emeritus Senior Living	1	Senior Housing	15,300
Discovery Senior Living	1	Senior Housing	12,000
			$	739,885

Summary of NHC Percentage Rent [Table Text Block]

The following table summarizes the percentage rent received and recognized from NHC (in thousands):

	Year Ended December 31,
	2013		2012		2011
Current year	$	2,275	$	1,530	$	1,530
Prior year final certification1	746		997		560
Total percentage rent	$	3,021	$	2,527	$	2,090

¹ For purposes of the percentage rent calculation described in the Master Lease Agreement, NHC’s annual revenue by facility for a given year is certified to NHI by March 31st of the following year.

Business Acquisition, Pro Forma Information [Table Text Block]

For the 14 Care properties acquired in a business combination and discussed above, the unaudited pro forma revenue, net income and net income available to common stockholders of the combined entity is provided below had the acquisition date been January 1, 2012 (in thousands):

	2013		2012
Revenue	$	122,923	$	103,670
Net income	$	103,943	$	91,515
Net income available to common stockholders	$	103,869	$	91,397
Basic earnings per common share	$	3.66	$	3.29
Diluted earnings per common share	$	3.66	$	3.28

Future Minimum Lease Payments [Table Text Block]

Future Minimum Lease Payments

At December 31, 2013, the future minimum lease payments (excluding percentage rent) to be received by us under our operating leases with our tenants are as follows (in thousands):

2014	$	137,717
2015	135,704
2016	135,453
2017	134,419
2018	122,562
Thereafter	1,164,051
	$	1,829,906