Sabra Health Care REIT Inc was incorporated on May 10, 2010 as a wholly owned subsidiary of Sun Healthcare Group, Inc. The Company operates as a REIT that holds investments in income-producing healthcare facilities, mainly long-term care facilities, located in the United States. It invests in the United States nursing home industry and other senior housing segments such as assisted living and independent living facilities. The Company owns substantially all of its assets and properties and conducts its operations through Sabra Health Care Limited Partnership, a Delaware limited partnership, or by subsidiaries of the Operating Partnership. As of December 31, 2013, its portfolio included 121 properties held for investment consisting of 96 skilled nursing/post-acute facilities, 23 senior housing facilities, two acute care hospitals; 10 debt investments consisting of four mortgage loans, three construction loans, one mezzanine loan, and two pre-development loans; and two preferred equity investments. The Company competes for real property investments with other REITs, investment companies, private equity and hedge fund investors, sovereign funds, healthcare operators, lenders and other investors. Its tenants are subject to extensive and complex federal, state and local healthcare laws and regulations, including anti-kickback, anti-fraud and abuse provisions codified under the Social Security Act.