Subsequent Events	12 Months Ended
Dec. 31, 2023
Subsequent Events
Subsequent Events	16. Subsequent Events The following events occurred subsequent to the balance sheet date: Real Estate Transitions and Lease Renewals. We transitioned two assisted living communities located in Georgia and South Carolina with a combined 159-units to a new operator. The new two-year master lease commenced on January 1, 2024 and provides two one-year extension periods. Rent is zero for the first six months. Thereafter, cash rent is based on mutually agreed upon fair market rent. Additionally, a master lease covering 11 skilled nursing centers that was scheduled to mature in January 2024 was renewed for seven months extending the maturity to August 2024. The master lease was renewed at the current annualized rent of $8,000,000, or $4,667,000 for seven months in 2024. The centers have a total of 1,444 beds and are located in Texas. Property Sales. We sold our interest in a JV for $23,120,000, which includes repayment of $1,814,000 of abated rent and $563,000 of deferred rent, as well as the payoff of a $550,000 note receivable. The JV owns a 110-unit community that provides independent living, assisted living and memory care services in Wisconsin. We held an approximate 90% economic interest in the JV, exercised power over and received benefits from the JV. Accordingly, we were considered the primary beneficiary of the JV and consolidated the JV on our consolidated financial statements. At December 31, 2023, this community was classified as held-for-sale. See Note 5. Real Estate Investments —Properties Held-for-Sale for more information. Debt. We entered into a Second Amendment to Third Amended and Restated Credit Agreement (the “Amended Credit Agreement”) to accelerate the one-year extension option notice to January 4, 2024. Concurrently, we exercised our option to extend the maturity date of the Credit Agreement, as amended to November 19, 2026. Additionally, we repaid $30,500,000 under our unsecured revolving line of credit. Accordingly, we have $271,750,000 outstanding and $128,250,000 available for borrowing under our unsecured revolving line of credit. Equity. We declared a monthly cash dividend of $0.19 per share on our common stock for the months of January, February, and March 2024, payable on January 31, February 29, and March 29, 2024, respectively, to stockholders of record on January 23, February 21, and March 21, 2024, respectively. Additionally, we sold 91,100 shares of common stock for $2,907,000 in net proceeds under our Equity Distribution Agreements. Accordingly, we have $73,074,000 available under our Equity Distribution Agreements.

Subsequent Events

12 Months Ended

Dec. 31, 2023

16. Subsequent Events

The following events occurred subsequent to the balance sheet date:

Real Estate Transitions and Lease Renewals. We transitioned two assisted living communities located in Georgia and South Carolina with a combined 159-units to a new operator. The new two-year master lease commenced on January 1, 2024 and provides two one-year extension periods. Rent is zero for the first six months. Thereafter, cash rent is based on mutually agreed upon fair market rent. Additionally, a master lease covering 11 skilled nursing centers that was scheduled to mature in January 2024 was renewed for seven months extending the maturity to August 2024. The master lease was renewed at the current annualized rent of $8,000,000, or $4,667,000 for seven months in 2024. The centers have a total of 1,444 beds and are located in Texas.

Property Sales. We sold our interest in a JV for $23,120,000, which includes repayment of $1,814,000 of

abated rent and $563,000 of deferred rent, as well as the payoff of a $550,000 note receivable. The JV owns a 110-unit community that provides independent living, assisted living and memory care services in Wisconsin. We held an approximate 90% economic interest in the JV, exercised power over and received benefits from the JV. Accordingly, we were considered the primary beneficiary of the JV and consolidated the JV on our consolidated financial statements. At December 31, 2023, this community was classified as held-for-sale. See Note 5. Real Estate Investments —Properties Held-for-Sale for more information.

Debt. We entered into a Second Amendment to Third Amended and Restated Credit Agreement (the “Amended Credit Agreement”) to accelerate the one-year extension option notice to January 4, 2024. Concurrently, we exercised our option to extend the maturity date of the Credit Agreement, as amended to November 19, 2026. Additionally, we repaid $30,500,000 under our unsecured revolving line of credit. Accordingly, we have $271,750,000 outstanding and $128,250,000 available for borrowing under our unsecured revolving line of credit.

Equity. We declared a monthly cash dividend of $0.19 per share on our common stock for the months of January, February, and March 2024, payable on January 31, February 29, and March 29, 2024, respectively, to stockholders of record on January 23, February 21, and March 21, 2024, respectively. Additionally, we sold 91,100 shares of common stock for $2,907,000 in net proceeds under our Equity Distribution Agreements. Accordingly, we have $73,074,000 available under our Equity Distribution Agreements.