Segment Reporting The Company currently conducts its business through the following five segments (excluding the asset management business which the Company spun off on June 30, 2014 which is no longer a separate operating segment), based on how management reviews and manages its business: " Real Estate - The real estate business concentrates on various types of investments in commercial real estate located throughout the United States and internationally, with a current focus on Europe, that includes healthcare, hotel, manufactured housing communities, net lease, multifamily and multi-tenant office properties. In addition, it includes PE Investments diversified by property type and geography. " Healthcare - The healthcare properties are comprised of a diverse portfolio of medical office buildings and other properties typically leased under net leases to healthcare operators with a focus on mid-acuity facilities (i.e., skilled nursing and assisted living), with the highest concentration in private-pay assisted living facilities. In addition, the Company owns healthcare properties that operate under a RIDEA structure generating resident income from short-term residential agreements and incur customary related operating expenses. " Hotel - The hotel portfolio is a geographically diverse portfolio primarily comprised of extended stay hotels and premium branded select service hotels primarily located in major metropolitan markets with the majority affiliated with top hotel brands. " European - The Company is expanding outside the United States, with a current focus on Europe, and seeks to invest in various types of commercial real estate assets. " Manufactured Housing - The manufactured housing portfolio consists of communities that lease pad rental sites for placement of factory built homes located throughout the United States. In addition, the portfolio includes manufactured homes for sale or rent and receivables related to the financing of homes sold to residents. " Net Lease - The net lease properties are primari