Subsequent Events

12 Months Ended

Dec. 31, 2013

Subsequent Events

Subsequent Events

17. Subsequent Events

        We had the following events occur subsequent to the balance sheet date.

        Real Estate—Owned Properties:    We funded $8,828,000 under ongoing real estate investment commitments. Accordingly, we have a remaining commitment of $48,060,000. See Note 6. Real Estate Investments for further discussion on the commitments.

        Major Operator:    We will not be renewing the leases expiring on December 31, 2014 with Extendicare and ALC. We have begun a formal process to re-lease the 37 assisted living properties they lease from us. See Note 3. Major Operator for further discussion.

        Debt:    In January 2014, we borrowed $11,500,000 under our unsecured revolving line of credit. Accordingly, we have $207,500,000 available for borrowing.

        Equity:    We declared a monthly cash dividend of $0.17 per share on our common stock for the months of January, February and March 2014, payable on January 31, February 28, and March 31, 2014, respectively, to stockholders of record on January 23, February 20, and March 21, 2014, respectively. Additionally, we granted 59,000 shares of restricted common stock at $36.81 per share. These shares vest ratably over a three-year period from the grant date.