Subsequent Events Subsequent Events	9 Months Ended
Sep. 30, 2014
Subsequent Events [Abstract]
Subsequent Events [Text Block]	NOTE 13. SUBSEQUENT EVENTS Real Estate Investment On October 31, 2014, our subsidiary, PropCo, acquired a 101-unit assisted living facility located in Middletown, Ohio for $18,100,000 plus approximately $100,000 in transaction costs, to be paid in cash and assumption of secured debt at an interest rate of 2.9% with an outstanding principal balance of $9,552,000 and an estimated fair value of $7,875,000. The facility will be leased under terms structured to comply with provisions of RIDEA, within our joint venture to the operating company, OpCo, of which we retain an 85/15 ownership interest with Bickford, who controls the entity, as discussed in Note 2. Because the facility was owner-occupied, the acquisition will be accounted for as an asset purchase. Mortgage and Construction Loan Investment On November 3, 2014, NHI announced it had agreed to lend Life Care Services, through its LCS-Westminster Partnership III LLP (“LCS-WP”) up to $154,500,000. The loans would convey a mortgage interest and would serve to facilitate the construction of Phase II of Timber Ridge at Talus (“Timber Ridge”), a Type-A Continuing Care Retirement Community in the Seattle area. The new financing is expected to close by November 30, 2014. The loans would take the form of two notes under a master credit agreement. The senior loan (“Note A”) totals $60,000,000 at a 6.75% interest rate with 10 basis-point escalators after year three, and would have a term of 10 years. Note A is interest-only and would be locked to prepayment for three years. After year three, the prepayment penalty would start at 5% and decline 1% per year. The loan is to be freely prepayable during the last 6 months of its term. The second note ("Note B") is a construction loan for up to $94,500,000 at an interest rate of 8% and a five year maturity. We anticipate funding Note B over twenty months and would be repaid with entrance fees once Phase II opens. NHI would have a purchase option on the property for the greater of fair market value or $115,000,000. A purchase option window of fifteen months would contingently open in year five or upon earlier stabilization, as defined. The purchase option would constitute a variable interest in Phase II of the Timber Ridge project, creating an interest in specified assets of LCS-WP but not in LCS-WP as a whole. Since LCS-WP would not be a VIE, the specified Timber Ridge assets would not be subject to the consolidation guidance governing Variable Interest Entities.

NOTE 13. SUBSEQUENT EVENTS

Real Estate Investment

On October 31, 2014, our subsidiary, PropCo, acquired a 101-unit assisted living facility located in Middletown, Ohio for $18,100,000 plus approximately $100,000 in transaction costs, to be paid in cash and assumption of secured debt at an interest rate of 2.9% with an outstanding principal balance of $9,552,000 and an estimated fair value of $7,875,000. The facility will be leased under terms structured to comply with provisions of RIDEA, within our joint venture to the operating company, OpCo, of which we retain an 85/15 ownership interest with Bickford, who controls the entity, as discussed in Note 2. Because the facility was owner-occupied, the acquisition will be accounted for as an asset purchase.

Mortgage and Construction Loan Investment

On November 3, 2014, NHI announced it had agreed to lend Life Care Services, through its LCS-Westminster Partnership III LLP (“LCS-WP”) up to $154,500,000. The loans would convey a mortgage interest and would serve to facilitate the construction of Phase II of Timber Ridge at Talus (“Timber Ridge”), a Type-A Continuing Care Retirement Community in the Seattle area. The new financing is expected to close by November 30, 2014.

The loans would take the form of two notes under a master credit agreement. The senior loan (“Note A”) totals $60,000,000 at a 6.75% interest rate with 10 basis-point escalators after year three, and would have a term of 10 years. Note A is interest-only and would be locked to prepayment for three years. After year three, the prepayment penalty would start at 5% and decline 1% per year. The loan is to be freely prepayable during the last 6 months of its term. The second note ("Note B") is a construction loan for up to $94,500,000 at an interest rate of 8% and a five year maturity. We anticipate funding Note B over twenty months and would be repaid with entrance fees once Phase II opens. NHI would have a purchase option on the property for the greater of fair market value or $115,000,000. A purchase option window of fifteen months would contingently open in year five or upon earlier stabilization, as defined. The purchase option would constitute a variable interest in Phase II of the Timber Ridge project, creating an interest in specified assets of LCS-WP but not in LCS-WP as a whole. Since LCS-WP would not be a VIE, the specified Timber Ridge assets would not be subject to the consolidation guidance governing Variable Interest Entities.