2019 Q2 Form 10-Q Financial Statement

#000163297019000066 Filed on August 12, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $30.37M $19.01M
YoY Change 59.77% 206.71%
Cost Of Revenue $5.328M $2.552M
YoY Change 108.78%
Gross Profit $25.05M $16.46M
YoY Change 52.18%
Gross Profit Margin 82.46% 86.58%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.490M $3.781M
YoY Change 71.65% 127.09%
% of Gross Profit 25.91% 22.97%
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $3.807M $1.160M
YoY Change 228.19% 183.62%
% of Operating Profit
Other Income/Expense, Net $6.610M $1.160M
YoY Change 469.83% 184.31%
Pretax Income -$5.882M -$958.0K
YoY Change 513.99%
Income Tax $7.000K $0.00
% Of Pretax Income
Net Earnings -$5.857M -$900.0K
YoY Change 550.78% -244.93%
Net Earnings / Revenue -19.28% -4.73%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $18.24M $26.79M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles $65.63M $45.70M
YoY Change 43.61% 26.55%
Long-Term Investments $47.74M
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $956.6M $573.4M
YoY Change 66.82% 64.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $348.1M $126.0M
YoY Change 176.3% 17.31%
SHAREHOLDERS EQUITY
Retained Earnings -$105.9M -$40.92M
YoY Change 158.85% 225.13%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity
YoY Change
Total Liabilities & Shareholders Equity $956.6M $573.4M
YoY Change 66.82% 64.08%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income -$5.857M -$900.0K
YoY Change 550.78% -244.93%
Depreciation, Depletion And Amortization $6.490M $3.781M
YoY Change 71.65% 127.09%
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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dei Amendment Flag
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dei Current Fiscal Year End Date
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dei Document Fiscal Period Focus
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dei Document Fiscal Year Focus
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dei Document Period End Date
DocumentPeriodEndDate
2019-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001632970
dei Entity Current Reporting Status
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dei Entity Emerging Growth Company
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dei Entity Ex Transition Period
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dei Entity Filer Category
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us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-1382000 USD
CY2019Q2 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-391000 USD
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-668000 USD
CY2018Q4 us-gaap Deferred Finance Costs Net
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2682000 USD
CY2019Q2 us-gaap Deferred Finance Costs Net
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3339000 USD
CY2018Q4 us-gaap Deferred Rent Receivables Net
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4941000 USD
CY2019Q2 us-gaap Deferred Rent Receivables Net
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5675000 USD
CY2018Q2 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-133000 USD
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-286000 USD
CY2019Q2 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-109000 USD
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-182000 USD
CY2018Q2 us-gaap Depreciation
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3781000 USD
us-gaap Depreciation
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7197000 USD
CY2019Q2 us-gaap Depreciation
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6490000 USD
us-gaap Depreciation
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13450000 USD
CY2018Q2 us-gaap Depreciation And Amortization
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7851000 USD
us-gaap Depreciation And Amortization
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15046000 USD
CY2019Q2 us-gaap Depreciation And Amortization
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9931000 USD
us-gaap Depreciation And Amortization
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26009000 USD
us-gaap Depreciation Depletion And Amortization
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15046000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
26009000 USD
CY2018Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
2641000 USD
CY2019Q2 us-gaap Dividends Payable Current And Noncurrent
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3909000 USD
CY2018Q4 us-gaap Due To Affiliate Current And Noncurrent
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8588000 USD
CY2019Q2 us-gaap Due To Affiliate Current And Noncurrent
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864000 USD
CY2018Q4 us-gaap Due To Related Parties Current And Noncurrent
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8588000 USD
CY2019Q2 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
864000 USD
CY2018Q4 us-gaap Earnest Money Deposits
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3900000 USD
CY2019Q2 us-gaap Earnest Money Deposits
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2900000 USD
CY2018Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.02
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.06
CY2019Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.07
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.24
us-gaap Equity Method Investment Dividends Or Distributions
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0 USD
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
154000 USD
CY2018Q4 us-gaap Equity Method Investments
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47600000 USD
CY2019Q2 us-gaap Equity Method Investments
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47738000 USD
CY2018 us-gaap Finite Lived Intangible Asset Useful Life
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P15Y3M18D
us-gaap Finite Lived Intangible Asset Useful Life
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P9Y9M18D
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
29524000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
5159000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
5956000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
7013000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
8255000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
9377000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
65284000 USD
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
0 USD
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
264000 USD
CY2018Q2 us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments
0 USD
us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments
0 USD
CY2019Q2 us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments
-3021000 USD
us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
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-4999000 USD
CY2018Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1578000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3698000 USD
CY2019Q2 us-gaap General And Administrative Expense
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3241000 USD
us-gaap General And Administrative Expense
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7431000 USD
CY2018Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-958000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-3194000 USD
CY2019Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-5882000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-18240000 USD
CY2018Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0 USD
CY2019Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
138000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
264000 USD
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10000 USD
us-gaap Income Taxes Paid
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6000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
19000 USD
us-gaap Increase Decrease In Accounts And Other Receivables
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2743000 USD
us-gaap Increase Decrease In Accounts And Other Receivables
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-605000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1388000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2470000 USD
us-gaap Increase Decrease In Accounts Payable Related Parties
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55000 USD
us-gaap Increase Decrease In Accounts Payable Related Parties
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108000 USD
us-gaap Increase Decrease In Other Financial Instruments Used In Operating Activities
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0 USD
us-gaap Increase Decrease In Other Financial Instruments Used In Operating Activities
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-4999000 USD
us-gaap Increase Decrease In Other Operating Liabilities
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-11000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-843000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
122000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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-646000 USD
CY2018Q4 us-gaap Intangible Assets Net Excluding Goodwill
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74723000 USD
CY2018Q4 us-gaap Intangible Assets Net Excluding Goodwill
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74723000 USD
CY2019Q2 us-gaap Intangible Assets Net Excluding Goodwill
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65632000 USD
CY2019Q2 us-gaap Intangible Assets Net Excluding Goodwill
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65632000 USD
CY2018Q2 us-gaap Interest And Other Income
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0 USD
us-gaap Interest And Other Income
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0 USD
CY2019Q2 us-gaap Interest And Other Income
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80000 USD
us-gaap Interest And Other Income
InterestAndOtherIncome
149000 USD
CY2018Q2 us-gaap Interest Expense
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1160000 USD
us-gaap Interest Expense
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2244000 USD
CY2019Q2 us-gaap Interest Expense
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3807000 USD
us-gaap Interest Expense
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7392000 USD
us-gaap Interest Paid
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1796000 USD
us-gaap Interest Paid
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5971000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
41827000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
39470000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
514000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
514000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
514000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
514000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
301000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
32898000 USD
CY2018Q4 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
538606000 USD
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
509440000 USD
CY2018Q4 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
44397000 USD
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
44921000 USD
CY2018Q4 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
48249000 USD
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
49000000 USD
CY2018Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
52764000 USD
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
26991000 USD
CY2018Q4 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
290103000 USD
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
282718000 USD
CY2018Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
50886000 USD
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
52069000 USD
CY2018Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
52207000 USD
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
53741000 USD
CY2018Q4 us-gaap Liabilities
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337329000 USD
CY2019Q2 us-gaap Liabilities
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348135000 USD
CY2018Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
896372000 USD
CY2019Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
956591000 USD
CY2018 us-gaap Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest
0.9999
us-gaap Limited Liability Company Llc Or Limited Partnership Lp Managing Member Or General Partner Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest
0.9999
CY2018 us-gaap Limited Liability Company Llc Or Limited Partnership Lp Members Or Limited Partners Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest
0.0001
us-gaap Limited Liability Company Llc Or Limited Partnership Lp Members Or Limited Partners Ownership Interest
LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest
0.0001
CY2018Q4 us-gaap Line Of Credit
LineOfCredit
275000000 USD
CY2018Q4 us-gaap Line Of Credit
LineOfCredit
275000000 USD
CY2019Q2 us-gaap Line Of Credit
LineOfCredit
268900000 USD
CY2019Q2 us-gaap Line Of Credit
LineOfCredit
268900000 USD
CY2018Q4 us-gaap Line Of Credit Facility Fair Value Of Amount Outstanding
LineOfCreditFacilityFairValueOfAmountOutstanding
275124000 USD
CY2019Q2 us-gaap Line Of Credit Facility Fair Value Of Amount Outstanding
LineOfCreditFacilityFairValueOfAmountOutstanding
269057000 USD
CY2018Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
400000000 USD
CY2019Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
400000000 USD
CY2017Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
200000000 USD
CY2018Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
350000000 USD
CY2018Q4 us-gaap Loans Payable Fair Value Disclosure
LoansPayableFairValueDisclosure
16920000 USD
CY2019Q2 us-gaap Loans Payable Fair Value Disclosure
LoansPayableFairValueDisclosure
27118000 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
16828000 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
680000 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
651000 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
622000 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
8332000 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
350000 USD
CY2018Q4 us-gaap Minority Interest Ownership Percentage By Noncontrolling Owners
MinorityInterestOwnershipPercentageByNoncontrollingOwners
0.0001
CY2019Q2 us-gaap Minority Interest Ownership Percentage By Noncontrolling Owners
MinorityInterestOwnershipPercentageByNoncontrollingOwners
0.0001
CY2018Q4 us-gaap Minority Interest Ownership Percentage By Parent
MinorityInterestOwnershipPercentageByParent
0.9999
CY2019Q2 us-gaap Minority Interest Ownership Percentage By Parent
MinorityInterestOwnershipPercentageByParent
0.9999
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
88090000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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54878000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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-77936000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-68039000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
9693000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
17100000 USD
CY2018Q2 us-gaap Net Income Loss
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-900000 USD
us-gaap Net Income Loss
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-3069000 USD
CY2019Q2 us-gaap Net Income Loss
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-5857000 USD
us-gaap Net Income Loss
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-18193000 USD
CY2018Q2 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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-58000 USD
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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-125000 USD
CY2019Q2 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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-32000 USD
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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-57000 USD
us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
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5808000 USD
us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
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9735000 USD
us-gaap Noncash Or Part Noncash Acquisition Other Assets Acquired1
NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1
83000 USD
us-gaap Noncash Or Part Noncash Acquisition Other Assets Acquired1
NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1
20000 USD
us-gaap Noncash Or Part Noncash Acquisition Other Liabilities Assumed1
NoncashOrPartNoncashAcquisitionOtherLiabilitiesAssumed1
371000 USD
us-gaap Noncash Or Part Noncash Acquisition Other Liabilities Assumed1
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694000 USD
us-gaap Noncash Or Part Noncash Acquisition Payables Assumed1
NoncashOrPartNoncashAcquisitionPayablesAssumed1
230000 USD
us-gaap Noncash Or Part Noncash Acquisition Payables Assumed1
NoncashOrPartNoncashAcquisitionPayablesAssumed1
534000 USD
CY2019Q2 us-gaap Number Of Reportable Segments
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4 segment
us-gaap Number Of Reportable Segments
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4 segment
CY2019Q2 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
2 State
CY2018Q4 us-gaap Off Market Lease Unfavorable
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1627000 USD
CY2019Q2 us-gaap Off Market Lease Unfavorable
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1115000 USD
CY2019Q2 us-gaap Off Market Lease Unfavorable
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1115000 USD
CY2019Q2 us-gaap Operating Lease Cost
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174000 USD
us-gaap Operating Lease Cost
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301000 USD
CY2019Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
18880000 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
34027000 USD
CY2018Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
0 USD
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
8929000 USD
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
8929000 USD
us-gaap Operating Lease Payments
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157000 USD
CY2018Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
0 USD
CY2019Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
13362000 USD
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0573
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P80Y8M12D
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
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13513000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
307000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
307000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
307000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
307000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
307000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
11978000 USD
CY2018Q2 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
10584000 USD
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
20017000 USD
CY2019Q2 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
18880000 USD
us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
34027000 USD
us-gaap Operations Commenced Date1
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2015-02-06
CY2018Q4 us-gaap Other Assets
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60234000 USD
CY2019Q2 us-gaap Other Assets
OtherAssets
59607000 USD
CY2018Q4 us-gaap Other Liabilities
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2827000 USD
CY2019Q2 us-gaap Other Liabilities
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7918000 USD
CY2018Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
4000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
8000 USD
CY2019Q2 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
5000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
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11000 USD
us-gaap Payments For Capital Improvements
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3729000 USD
us-gaap Payments For Capital Improvements
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2216000 USD
us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
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8565000 USD
us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
-1000000 USD
us-gaap Payments For Repurchase Of Common Stock
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3369000 USD
us-gaap Payments For Repurchase Of Common Stock
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1132000 USD
us-gaap Payments Of Dividends Common Stock
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6076000 USD
us-gaap Payments Of Dividends Common Stock
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10039000 USD
us-gaap Payments Of Financing Costs
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129000 USD
us-gaap Payments Of Financing Costs
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64000 USD
us-gaap Payments Of Stock Issuance Costs
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9118000 USD
us-gaap Payments Of Stock Issuance Costs
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15787000 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
0 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
600000 USD
us-gaap Payments To Acquire Real Estate
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65505000 USD
us-gaap Payments To Acquire Real Estate
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66749000 USD
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0
CY2019Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">1. Organization and Description of Business</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font></div><div style="line-height:120%;padding-top:10px;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Griffin-American Healthcare REIT IV, Inc., a Maryland corporation, was incorporated on </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">January&#160;23, 2015</font><font style="font-family:inherit;font-size:10pt;"> and therefore we consider that our date of inception. We were initially capitalized on </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">February&#160;6, 2015</font><font style="font-family:inherit;font-size:10pt;">. We invest in a diversified portfolio of real estate properties, focusing primarily on medical office buildings, hospitals, skilled nursing facilities, senior housing and other healthcare-related facilities. We also operate healthcare-related facilities utilizing the structure permitted by the REIT Investment Diversification and Empowerment Act of 2007, which is commonly referred to as a &#8220;RIDEA&#8221; structure (the provisions of the Internal Revenue Code of 1986, as amended, or the Code, authorizing the RIDEA structure were enacted as part of the Housing and Economic Recovery Act of 2008). We may also originate and acquire secured loans and real estate-related investments on an infrequent and opportunistic basis. We generally seek investments that produce current income. We qualified to be taxed as a real estate investment trust, or REIT, under the Code for federal income tax purposes beginning with our taxable year ended December 31, 2016, and we intend to continue to qualify to be taxed as a REIT.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On February 16, 2016, we commenced our initial public offering, or our initial offering, in which we were initially offering to the public up to </font><font style="font-family:inherit;font-size:10pt;">$3,150,000,000</font><font style="font-family:inherit;font-size:10pt;"> in shares of our Class T common stock, consisting of up to </font><font style="font-family:inherit;font-size:10pt;">$3,000,000,000</font><font style="font-family:inherit;font-size:10pt;"> in shares of our Class T common stock in the primary portion of our initial offering and up to </font><font style="font-family:inherit;font-size:10pt;">$150,000,000</font><font style="font-family:inherit;font-size:10pt;"> in shares of our Class T common stock pursuant to our distribution reinvestment plan, as amended, or the DRIP. Effective June 17, 2016, we reallocated certain of the unsold shares of Class T common stock being offered and began offering shares of Class I common stock, such that we were offering up to approximately </font><font style="font-family:inherit;font-size:10pt;">$2,800,000,000</font><font style="font-family:inherit;font-size:10pt;"> in shares of Class T common stock and </font><font style="font-family:inherit;font-size:10pt;">$200,000,000</font><font style="font-family:inherit;font-size:10pt;"> in shares of Class I common stock in the primary portion of our initial offering, and up to an aggregate of </font><font style="font-family:inherit;font-size:10pt;">$150,000,000</font><font style="font-family:inherit;font-size:10pt;"> in shares of our Class T and Class I common stock pursuant to the DRIP, aggregating up to </font><font style="font-family:inherit;font-size:10pt;">$3,150,000,000</font><font style="font-family:inherit;font-size:10pt;">. On February 15, 2019, we terminated our initial offering, and as of such date, we sold </font><font style="font-family:inherit;font-size:10pt;">75,641,074</font><font style="font-family:inherit;font-size:10pt;"> aggregate shares of our Class T and Class I common stock, or approximately </font><font style="font-family:inherit;font-size:10pt;">$754,132,000</font><font style="font-family:inherit;font-size:10pt;">, and a total of </font><font style="font-family:inherit;font-size:10pt;">$31,021,000</font><font style="font-family:inherit;font-size:10pt;"> in distributions were reinvested that resulted in </font><font style="font-family:inherit;font-size:10pt;">3,253,535</font><font style="font-family:inherit;font-size:10pt;"> shares of our common stock being issued pursuant to the DRIP portion of our initial offering. </font><font style="font-family:inherit;font-size:10pt;">See Note 12, Equity</font><font style="font-family:inherit;font-size:10pt;"> &#8212; Common Stock, for a further discussion. </font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On January 18, 2019, we filed a Registration Statement on Form S-3 under the Securities Act of 1933, as amended, or the Securities Act, to register a maximum of </font><font style="font-family:inherit;font-size:10pt;">$100,000,000</font><font style="font-family:inherit;font-size:10pt;"> of additional shares of our common stock to be issued pursuant to the DRIP, or the 2019 DRIP Offering. The Registration Statement on Form S-3 was automatically effective with the United States Securities and Exchange Commission, or the SEC, upon its filing. We commenced offering shares pursuant to the 2019 DRIP Offering on March 1, 2019, following the termination of our initial offering on February 15, 2019. </font><font style="font-family:inherit;font-size:10pt;">See Note 12, Equity</font><font style="font-family:inherit;font-size:10pt;"> &#8212; Distribution Reinvestment Plan, for a further discussion. We&#160;collectively refer to the DRIP portion of our initial offering and the 2019 DRIP Offering as our DRIP Offerings.&#160;As of </font><font style="font-family:inherit;font-size:10pt;">June&#160;30, 2019</font><font style="font-family:inherit;font-size:10pt;">, a total of </font><font style="font-family:inherit;font-size:10pt;">$8,533,000</font><font style="font-family:inherit;font-size:10pt;"> in distributions were reinvested that resulted in </font><font style="font-family:inherit;font-size:10pt;">889,370</font><font style="font-family:inherit;font-size:10pt;"> shares of our common stock being issued pursuant to the 2019 DRIP Offering. </font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We conduct substantially all of our operations through Griffin-American Healthcare REIT IV Holdings, LP, or our operating partnership. We are externally advised by Griffin-American Healthcare REIT IV Advisor, LLC, or our advisor, pursuant to an advisory agreement, or the Advisory Agreement, between us and our advisor. The Advisory Agreement was effective as of February 16, 2016 and had a&#160;</font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;">-year term, subject to successive&#160;</font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;">-year renewals upon the mutual consent of the parties. The Advisory Agreement was last renewed pursuant to the mutual consent of the parties on February 12, 2019 and expires on February 16, 2020. Our advisor uses its best efforts, subject to the oversight and review of our board of directors, or our board, to, among other things, research, identify, review and make investments in and dispositions of properties and securities on our behalf consistent with our investment policies and objectives. Our advisor performs its duties and responsibilities under the Advisory Agreement as our fiduciary. Our advisor is </font><font style="font-family:inherit;font-size:10pt;">75.0%</font><font style="font-family:inherit;font-size:10pt;"> owned and managed by American Healthcare Investors, LLC, or American Healthcare Investors, and </font><font style="font-family:inherit;font-size:10pt;">25.0%</font><font style="font-family:inherit;font-size:10pt;"> owned by a wholly owned subsidiary of Griffin Capital Company, LLC, or Griffin Capital, or collectively, our co-sponsors. American Healthcare Investors is </font><font style="font-family:inherit;font-size:10pt;">47.1%</font><font style="font-family:inherit;font-size:10pt;"> owned by AHI Group Holdings, LLC, or AHI Group Holdings, </font><font style="font-family:inherit;font-size:10pt;">45.1%</font><font style="font-family:inherit;font-size:10pt;"> indirectly owned by Colony Capital, Inc. (NYSE: CLNY), or Colony Capital, and </font><font style="font-family:inherit;font-size:10pt;">7.8%</font><font style="font-family:inherit;font-size:10pt;"> owned by James F. Flaherty III, a former partner of Colony Capital. We are not affiliated with Griffin Capital, Griffin Capital Securities, LLC, or our dealer manager, Colony Capital or Mr. Flaherty; however, we are affiliated with Griffin-American Healthcare REIT IV Advisor, LLC, American Healthcare Investors and AHI Group Holdings.</font></div><div style="line-height:120%;padding-top:10px;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We currently operate through </font><font style="font-family:inherit;font-size:10pt;">four</font><font style="font-family:inherit;font-size:10pt;"> reportable business segments: medical office buildings, senior housing, senior housing &#8212; RIDEA and skilled nursing facilities. As of </font><font style="font-family:inherit;font-size:10pt;">June&#160;30, 2019</font><font style="font-family:inherit;font-size:10pt;">, we had completed </font><font style="font-family:inherit;font-size:10pt;">36</font><font style="font-family:inherit;font-size:10pt;"> property acquisitions whereby we owned </font><font style="font-family:inherit;font-size:10pt;">73</font><font style="font-family:inherit;font-size:10pt;"> properties, comprising </font><font style="font-family:inherit;font-size:10pt;">78</font><font style="font-family:inherit;font-size:10pt;"> buildings, or approximately </font><font style="font-family:inherit;font-size:10pt;">4,113,000</font><font style="font-family:inherit;font-size:10pt;"> square feet of gross leasable area, or GLA, for an aggregate contract purchase price of </font><font style="font-family:inherit;font-size:10pt;">$897,289,000</font><font style="font-family:inherit;font-size:10pt;">. As of </font><font style="font-family:inherit;font-size:10pt;">June&#160;30, 2019</font><font style="font-family:inherit;font-size:10pt;">, we also own a </font><font style="font-family:inherit;font-size:10pt;">6.0%</font><font style="font-family:inherit;font-size:10pt;"> interest in a joint venture which owns and operates a portfolio of integrated senior health campuses and ancillary businesses.</font></div></div>
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