Subsequent Events	12 Months Ended
Dec. 31, 2020
Subsequent Events
Subsequent Events	16. Subsequent Events The following events occurred subsequent to the balance sheet date: Real Estate. We transitioned 11 assisted living communities previously leased to Senior Lifestyle to two operators. These communities are located in Illinois, Ohio and Wisconsin. Total cash rent expected under these master lease agreements is $5,250,000 for the first lease year, $7,078,000 for the second lease year and $7,303,000 for the third lease year, escalating 2% annually thereafter. Additionally, we reduced 2021 rent escalations by 50% in the form of a rent credit to provide financial support to the majority of our operating partners. The rent escalation reduction is expected to have an approximate $530,000 impact on 2021 GAAP revenue. Debt. Paid $7,000,000 in regular scheduled principal payments under our senior unsecured notes. Accordingly, we have $552,482,000 outstanding, net of debt issue costs, under our senior unsecured notes. Additionally, we borrowed $9,000,000 under our unsecured revolving line of credit. Accordingly, we have $98,900,000 outstanding and $501,100,000 available for borrowing under our unsecured revolving line of credit. Notes Receivable. Received $900,000 for the payoff of a note receivable. Equity. We declared a monthly cash dividend of $0.19 per share on our common stock for the months of January, February, and March 2021, payable on January 29, February 26, and March 31, 2021, respectively, to stockholders of record on January 21, February 18, and March 23, 2021, respectively.

Subsequent Events

12 Months Ended

Dec. 31, 2020

16. Subsequent Events

The following events occurred subsequent to the balance sheet date:

Real Estate. We transitioned 11 assisted living communities previously leased to Senior Lifestyle to two operators. These communities are located in Illinois, Ohio and Wisconsin. Total cash rent expected under these master lease agreements is $5,250,000 for the first lease year, $7,078,000 for the second lease year and $7,303,000 for the third lease year, escalating 2% annually thereafter. Additionally, we reduced 2021 rent escalations by 50% in the form of a rent credit to provide financial support to the majority of our operating partners. The rent escalation reduction is expected to have an approximate $530,000 impact on 2021 GAAP revenue.

Debt. Paid $7,000,000 in regular scheduled principal payments under our senior unsecured notes. Accordingly, we have $552,482,000 outstanding, net of debt issue costs, under our senior unsecured notes. Additionally, we borrowed $9,000,000 under our unsecured revolving line of credit. Accordingly, we have $98,900,000 outstanding and $501,100,000 available for borrowing under our unsecured revolving line of credit.

Notes Receivable. Received $900,000 for the payoff of a note receivable.

Equity. We declared a monthly cash dividend of $0.19 per share on our common stock for the months of January, February, and March 2021, payable on January 29, February 26, and March 31, 2021, respectively, to stockholders of record on January 21, February 18, and March 23, 2021, respectively.