Annual report pursuant to Section 13 and 15(d)

INVESTMENTS IN SENIOR HOUSING REAL ESTATE - Investments in Senior Housing Real Estate (Details)

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INVESTMENTS IN SENIOR HOUSING REAL ESTATE - Investments in Senior Housing Real Estate (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Senior Housing Facilities AL/MC Scottsdale AZ
    
Property Type AL/MC [1]  
Location Scottsdale, AZ  
Initial cost - land $ 2,307  
Initial cost - building 16,809  
Initial cost - building improvements 183  
Initial cost - furniture, fixtures and equipment 101  
Costs capitalized subsequent to acquisition 170  
Gross Carrying Amount - land 2,307  
Gross Carrying Amount - building 16,809  
Gross Carrying Amount - building improvements 327  
Gross Carrying Amount - furniture, fixtures and equipment 127  
Gross Carrying Amount 19,570 [2],[3]  
Accumulated Depreciation (708) [2],[4]  
Year Acquired 2012 [5]  
Year Constructed 1999 [5]  
Year Renovated 2005 [5]  
Net carrying value 18,862 19,212
Encumbrances 16,380 [6] 12,600 [6]
Senior Housing Facilities AL/MC Citrus Heights CA
    
Property Type AL/MC [1]  
Location Citrus Heights, CA  
Initial cost - land 831  
Initial cost - building 3,089  
Initial cost - building improvements 94  
Initial cost - furniture, fixtures and equipment 59  
Costs capitalized subsequent to acquisition 29  
Gross Carrying Amount - land 831  
Gross Carrying Amount - building 3,090  
Gross Carrying Amount - building improvements 114  
Gross Carrying Amount - furniture, fixtures and equipment 67  
Gross Carrying Amount 4,102 [2],[3]  
Accumulated Depreciation (154) [2],[4]  
Year Acquired 2012 [5]  
Year Constructed 1997 [5]  
Year Renovated 2011 [5]  
Net carrying value 3,948 4,027
Encumbrances 3,440 [6] 2,940 [6]
Senior Housing Facilities AL/MC Santa Cruz CA
    
Property Type AL/MC [1]  
Location Santa Cruz, CA  
Initial cost - land 2,255  
Initial cost - building 20,931  
Initial cost - building improvements 265  
Initial cost - furniture, fixtures and equipment 58  
Costs capitalized subsequent to acquisition 124  
Gross Carrying Amount - land 2,255  
Gross Carrying Amount - building 20,932  
Gross Carrying Amount - building improvements 370  
Gross Carrying Amount - furniture, fixtures and equipment 76  
Gross Carrying Amount 23,633 [2],[3]  
Accumulated Depreciation (870) [2],[4]  
Year Acquired 2012 [5]  
Year Constructed 1990 [5]  
Net carrying value 22,763 23,272
Encumbrances 19,850 [6] 17,220 [6]
Senior Housing Facilities AL/MC Clovis CA
    
Property Type AL/MC [1]  
Location Clovis, CA  
Initial cost - land 1,133  
Initial cost - building 16,789  
Initial cost - building improvements 205  
Initial cost - furniture, fixtures and equipment 45  
Costs capitalized subsequent to acquisition 77  
Gross Carrying Amount - land 1,133  
Gross Carrying Amount - building 16,790  
Gross Carrying Amount - building improvements 235  
Gross Carrying Amount - furniture, fixtures and equipment 91  
Gross Carrying Amount 18,249 [2],[3]  
Accumulated Depreciation (671) [2],[4]  
Year Acquired 2012 [5]  
Year Constructed 1998 [5]  
Year Renovated 2007 [5]  
Net carrying value 17,578 17,969
Encumbrances 15,343 [6] 11,700 [6]
Senior Housing Facilities AL/MC Boise ID
    
Property Type AL/MC [1]  
Location Boise, ID  
Initial cost - land 1,465  
Initial cost - building 13,157  
Initial cost - building improvements 477  
Initial cost - furniture, fixtures and equipment 58  
Costs capitalized subsequent to acquisition 116  
Gross Carrying Amount - land 1,465  
Gross Carrying Amount - building 13,157  
Gross Carrying Amount - building improvements 580  
Gross Carrying Amount - furniture, fixtures and equipment 71  
Gross Carrying Amount 15,273 [2],[3]  
Accumulated Depreciation (599) [2],[4]  
Year Acquired 2012 [5]  
Year Constructed 1997 [5]  
Year Renovated 2011 [5]  
Net carrying value 14,674 15,016
Encumbrances 12,799 [6] 12,960 [6]
Senior Housing Facilities AL/MC Corvallis OR
    
Property Type AL/MC [1]  
Location Corvallis, OR  
Initial cost - land 1,060  
Initial cost - building 4,886  
Initial cost - building improvements 164  
Initial cost - furniture, fixtures and equipment 8  
Costs capitalized subsequent to acquisition 56  
Gross Carrying Amount - land 1,060  
Gross Carrying Amount - building 4,886  
Gross Carrying Amount - building improvements 196  
Gross Carrying Amount - furniture, fixtures and equipment 32  
Gross Carrying Amount 6,174 [2],[3]  
Accumulated Depreciation (209) [2],[4]  
Year Acquired 2012 [5]  
Year Constructed 1999 [5]  
Net carrying value 5,965 6,069
Encumbrances 5,166 [6] 3,020 [6]
Senior Housing Facilities AL/MC Eugene OR
    
Property Type AL/MC [1]  
Location Eugene, OR  
Initial cost - land 935  
Initial cost - building 20,383  
Initial cost - building improvements 411  
Initial cost - furniture, fixtures and equipment 91  
Costs capitalized subsequent to acquisition 88  
Gross Carrying Amount - land 935  
Gross Carrying Amount - building 20,383  
Gross Carrying Amount - building improvements 507  
Gross Carrying Amount - furniture, fixtures and equipment 83  
Gross Carrying Amount 21,908 [2],[3]  
Accumulated Depreciation (862) [2],[4]  
Year Acquired 2012 [5]  
Year Constructed 1998 [5]  
Net carrying value 21,046 21,607
Encumbrances 18,425 [6] 15,480 [6]
Senior Housing Facilities AL/MC Cottonwood Heights UT
    
Property Type AL/MC [1]  
Location Cottonwood Heights, UT  
Initial cost - land 1,496  
Initial cost - building 16,160  
Initial cost - building improvements 238  
Initial cost - furniture, fixtures and equipment 58  
Costs capitalized subsequent to acquisition 154  
Gross Carrying Amount - land 1,496  
Gross Carrying Amount - building 16,160  
Gross Carrying Amount - building improvements 275  
Gross Carrying Amount - furniture, fixtures and equipment 175  
Gross Carrying Amount 18,106 [2],[3]  
Accumulated Depreciation (674) [2],[4]  
Year Acquired 2012 [5]  
Year Constructed 2001 [5]  
Net carrying value 17,432 17,772
Encumbrances 15,159 [6] 12,480 [6]
Senior Housing Facilities AL/MC Bountiful UT
    
Property Type AL/MC [1]  
Location Bountiful, UT  
Initial cost - land 570  
Initial cost - building 9,492  
Initial cost - building improvements 66  
Initial cost - furniture, fixtures and equipment 50  
Costs capitalized subsequent to acquisition 362  
Gross Carrying Amount - land 570  
Gross Carrying Amount - building 9,492  
Gross Carrying Amount - building improvements 298  
Gross Carrying Amount - furniture, fixtures and equipment 180  
Gross Carrying Amount 10,540 [2],[3]  
Accumulated Depreciation (355) [2],[4]  
Year Acquired 2012 [5]  
Year Constructed 1978 [5]  
Year Renovated 2000 [5]  
Net carrying value 10,185 10,171
Encumbrances 8,819 [6] 10,024 [6]
Senior Housing Facilities AL/MC Taylorsville UT
    
Property Type AL/MC [1]  
Location Taylorsville, UT  
Initial cost - land 1,111  
Initial cost - building 3,009  
Initial cost - building improvements 117  
Initial cost - furniture, fixtures and equipment 39  
Costs capitalized subsequent to acquisition 266  
Gross Carrying Amount - land 1,111  
Gross Carrying Amount - building 3,009  
Gross Carrying Amount - building improvements 242  
Gross Carrying Amount - furniture, fixtures and equipment 180  
Gross Carrying Amount 4,542 [2],[3]  
Accumulated Depreciation (154) [2],[4]  
Year Acquired 2012 [5]  
Year Constructed 1976 [5]  
Year Renovated 1994 [5]  
Net carrying value 4,388 4,276
Encumbrances 3,704 [6] 3,341 [6]
Senior Housing Facilities AL/MC Salt Lake City UT
    
Property Type AL/MC [1]  
Location Salt Lake City, UT  
Initial cost - land 700  
Initial cost - building 3,253  
Initial cost - building improvements 44  
Initial cost - furniture, fixtures and equipment 15  
Costs capitalized subsequent to acquisition 212  
Gross Carrying Amount - land 700  
Gross Carrying Amount - building 3,253  
Gross Carrying Amount - building improvements 131  
Gross Carrying Amount - furniture, fixtures and equipment 140  
Gross Carrying Amount 4,224 [2],[3]  
Accumulated Depreciation (129) [2],[4]  
Year Acquired 2012 [5]  
Year Constructed 1984 [5]  
Year Renovated 2007 [5]  
Net carrying value 4,095 4,017
Encumbrances 3,476 [6] 2,635 [6]
Senior Housing Facilities AL/MC Fort Worth TX
    
Property Type AL/MC [1]  
Location Fort Worth, TX  
Initial cost - land 2,130  
Initial cost - building 16,260  
Initial cost - building improvements 338  
Initial cost - furniture, fixtures and equipment 672  
Costs capitalized subsequent to acquisition 139  
Gross Carrying Amount - land 2,130  
Gross Carrying Amount - building 16,260  
Gross Carrying Amount - building improvements 423  
Gross Carrying Amount - furniture, fixtures and equipment 726  
Gross Carrying Amount 19,539 [2],[3]  
Accumulated Depreciation (775) [2],[4]  
Year Acquired 2012 [5]  
Year Constructed 1986 [5]  
Net carrying value 18,764 19,393
Encumbrances 16,125 [6] 16,125 [6]
Senior Housing Assets Acquired in 2012
    
Initial cost - land 15,993  
Initial cost - building 144,218  
Initial cost - building improvements 2,602  
Initial cost - furniture, fixtures and equipment 1,254  
Costs capitalized subsequent to acquisition 1,793  
Gross Carrying Amount - land 15,993  
Gross Carrying Amount - building 144,221  
Gross Carrying Amount - building improvements 3,698  
Gross Carrying Amount - furniture, fixtures and equipment 1,948  
Gross Carrying Amount 165,860 [2],[3]  
Accumulated Depreciation (6,160) [2],[4]  
Net carrying value 159,700 162,801
Encumbrances $ 138,686 [6] $ 120,525 [6]
[1] AL represents assisted living; IL represents independent living and MC represents memory care.
[2] The following is a rollforward of the gross carrying amount and accumulated depreciation of senior housing real estate for the years ended December 31, 2013 and 2012. (See Rollforward of Investments in Senior Housing Real Estate)
[3] The aggregate United States federal income tax basis for Newcastle?s senior housing real estate at December 31, 2013 was approximately $1.4 billion.
[4] Depreciation is calculated on a straight line basis using the estimated useful lives detailed in Note 2.
[5] Unaudited
[6] See Note 14.