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Real Estate (Tables)
 3 Months Ended
Mar. 31, 2020
Real Estate [Abstract]  
New Real Estate Investments [Table Text Block]
During the three months ended March 31, 2020, we made the following real estate investments and related commitments as described below ($ in thousands):

OperatorDatePropertiesAsset ClassAmount
Bickford Senior LivingJanuary 20201SHO15,100  
Life Care ServicesJanuary 20201SHO134,892  
$149,992  
Schedule of Allocated Value, Asset Purchase
NHI recorded the acquisition of Timber Ridge PropCo as follows ($ in thousands):

Land$4,370  
Building and improvements127,209  
Furniture, fixtures and equipment3,313  
$134,892  
Schedule of Bickford Leases [Table Text Block]
As of March 31, 2020, our Bickford Senior Living (“Bickford”) lease portfolio consists of the following ($ in thousands):
Lease Expiration
June 2023September 2024May 2031April 2033Total
Number of Properties13  10  20  5  48  
2020 Contractual Rent$11,812  $9,343  $24,193  $5,072  $50,420  
2020 Straight Line Rent14  339  2,671  745  3,769  
2020 Lease Incentive Amortization—  —  (775) —  (775) 
$11,826  $9,682  $26,089  $5,817  $53,414  
Summary of NHC Percentage Rent [Table Text Block]
The following table summarizes the percentage rent income from NHC (in thousands):
Three Months Ended
March 31,
20202019
Current year  $926  $877  
Prior year final certification1
(14) 334  
Total percentage rent income  $912  $1,211  
1 For purposes of the percentage rent calculation described in the master lease agreement, NHC’s annual revenue by facility for a given year is certified to NHI by March 31st of the following year.
Schedule of Tenant Purchase Options [Table Text Block]
A summary of these tenant options is presented below ($ in thousands):

AssetNumber ofLease1st OptionOptionContractual
TypePropertiesExpirationOpen YearBasisRent
MOB1February 2025Openi$308  
HOSP1March 2025Openii$1,957  
HOSP1September 20272021iv$2,760  
SHO2May 20312021iv$5,063  
HOSP1June 20222022i$3,502  
SNF7August 20282025iii$3,485  
SNF1September 20282028iii$472  

Tenant purchase options generally give the lessee an option to purchase the underlying property for consideration determined by i) greater of fixed base price or fair market value; ii) a fixed base price plus a specified share in any appreciation; iii) fixed base price; or iv) a fixed capitalization rate on lease revenue.
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] Presented in the following table are future minimum lease payments, as of March 31, 2020, to be received by us under our operating leases, as determined under ASC 842 (in thousands):
Twelve months ended March 31, 2020
2021$277,788  
2022277,910  
2023283,430  
2024275,699  
2025268,238  
Thereafter1,542,215  
$2,925,280  
Schedule of Fixed and Variable Lease Payments [Table Text Block] The table below indicates the revenue recognized as a result of fixed and variable lease escalators (in thousands):
Three Months Ended
March 31,
20202019
Lease payments based on fixed escalators$68,433  $63,467  
Lease payments based on variable escalators1,364  1,168  
Straight-line rent income5,177  5,228  
Escrow funds received from tenants1,553  1,090  
Rental income$76,527  $70,953