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Real Estate (Tables)
 9 Months Ended
Sep. 30, 2019
Real Estate [Abstract]  
Schedule of Fixed and Variable Lease Payments [Table Text Block] The table below indicates the amount of lease revenue recognized during the three and nine months ended September 30, 2019 as a result of fixed and variable lease escalators (in thousands):
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2019
 
2018
 
2019
 
2018
Lease payments based on fixed escalators
$
67,172

 
$
64,884

 
$
196,411

 
$
190,267

Lease payments based on variable escalators
747

 
1,085

 
1,906

 
3,026

Straight-line rent income
5,720

 
5,719

 
16,255

 
17,516

Escrow funds received from tenants
1,608

 
—

 
4,205

 
—

Rental income
$
75,247

 
$
71,688

 
$
218,777

 
$
210,809
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] Presented in the following table are future minimum lease payments, as of September 30, 2019, to be received by us under our operating leases, as determined under ASC 842 (in thousands):
Twelve months ended September 30, 2019
 
2020
$
270,629

2021
271,169

2022
274,491

2023
272,498

2024
264,457

Thereafter
1,608,080

 
$
2,961,324
New Real Estate Investments [Table Text Block]
During the nine months ended September 30, 2019, we made the following real estate investments and related commitments as described below ($ in thousands):
Operator
 
Date
 
Properties
 
Asset Class
 
Amount
Wingate Healthcare
 
January 2019
 
1
 
SHO
 
$
52,200

Holiday Retirement
 
January 2019
 
1
 
SHO
 
38,000

Comfort Care Senior Living
 
April 2019
 
1
 
SHO
 
10,800

Comfort Care Senior Living
 
May 2019
 
1
 
SHO
 
13,500

Discovery Senior Living (PropCo Joint Venture)
 
May 2019
 
6
 
SHO
 
127,917

Capella Living Solutions
 
July 2019
 
1
 
SHO
 
7,600

Bickford Senior Living
 
September 2019
 
1
 
SHO
 
15,100

 
 
 
 
 
 
 
 
$
265,117
Schedule of Bickford Leases [Table Text Block]
As of September 30, 2019, our Bickford Senior Living (“Bickford”) lease portfolio consists of the following ($ in thousands):
 
Lease Expiration
 
 
June 2023
September 2024
September 2027
May 2031
April 2033
Total
Number of Properties
13

10

4

19

5

51

2019 Contractual Rent
$
11,468

$
9,542

$
1,576

$
12,203

$
4,918

$
39,707

2019 Straight Line Rent
358

670

195

1,695

860

3,778

 
$
11,826

$
10,212

$
1,771

$
13,898

$
5,778

$
43,485
Summary of NHC Percentage Rent [Table Text Block]




The following table summarizes the percentage rent income from NHC (in thousands):
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2019
 
2018
 
2019
 
2018
Current year
$
924

 
$
853

 
$
2,726

 
$
2,558

Prior year final certification1
—

 
—

 
334

 
285

Total percentage rent income
$
924

 
$
853

 
$
3,060

 
$
2,843

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.
Schedule of Tenant Purchase Options [Table Text Block]
A summary of these tenant options, excluding properties classified as held for sale, is presented below ($ in thousands):
Asset
Number of
Lease
1st Option
Option
Contractual
Type
Properties
Expiration
Open Year
Basis
Rent
MOB
1
February 2025
Open
i
$
306

HOSP
1
September 2027
2020
ii
$
2,713

HOSP
1
March 2025
2020
iv
$
1,957

SHO
2
May 2031
2021
iv
$
5,063

HOSP
1
June 2022
2022
i
$
3,502

SNF
7
August 2028
2025
iii
$
3,671

SNF
1
September 2028
2028
iii
$
463