Summarized Financial Information of Equity Affiliates (Tables)

9 Months Ended

Sep. 30, 2021

Equity Method Investments And Joint Ventures [Abstract]

Limited Liability Companies Accounted for Under Equity Method

The following property table represents the five LLCs/LPs in which we owned a non-controlling interest and were accounted for under the equity method as of September 30, 2021:

Name of LLC/LP	Ownership			Property Owned by LLC/LP
Suburban Properties		33	%	St. Matthews Medical Plaza II
Brunswick Associates (a.)(e.)		74	%	Mid Coast Hospital MOB
Grayson Properties (b.)(f.)		95	%	Texoma Medical Plaza
FTX MOB Phase II (c.)		95	%	Forney Medical Plaza II
Grayson Properties II (d.)(f.)		95	%	Texoma Medical Plaza II

(a.) This LLC has a third-party term loan of $9.1 million, which is non-recourse to us, outstanding as of September 30, 2021.

(b.) This building is on the campus of a UHS hospital and has tenants that include subsidiaries of UHS.  During the third quarter of 2021, this LP paid off its $13.2 million mortgage loan upon maturity utilizing an equity contribution from us which was funded utilizing borrowings from our revolving credit agreement. Subsequent to the third quarter of 2021, we purchased the 5% minority ownership interest in this LP from the third-party minority ownership partner for approximately $3.1 million and subsequently own 100% of this LP.

(c.) During the first quarter of 2021, this LP paid off its $4.7 million mortgage loan, upon maturity, utilizing pro rata equity contributions from the limited partners as well as a $3.5 million member loan from us to the LP which was funded utilizing borrowings from our revolving credit agreement.

(d.) Construction of this MOB, which is located in Denison, Texas on the campus of a hospital owned and operated by a wholly-owned subsidiary of UHS, was substantially completed in December 2020. We have committed to invest up to $4.8 million in equity and debt financing, $1.4 million of which has been funded as of September 30, 2021. This LP entered into a $13.1 million third-party construction loan commitment, which is non-recourse to us, which has an outstanding balance of $13.1 million as of September 30, 2021.

(e.) The LLC is the lessee with a third-party lessor under a ground lease for land.

(f.) These LPs are the lessees with UHS-related parties for the land related to these properties.

Condensed Combined Statements of Income (Unaudited) for LLCs/LPs Accounted Under Equity Method

Below are the condensed combined statements of income (unaudited) for the five LLCs/LPs accounted for under the equity method at September 30, 2021 and the four LLCs/LPs accounted for under the equity method as September 30, 2020 (the 2020 periods do not include the newly constructed Texoma Medical Plaza II that was substantially completed in December, 2020).     

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
	(amounts in thousands)				(amounts in thousands)
Revenues	$	2,736	$	2,624	$	8,373	$	7,637
Operating expenses		1,184		1,047		3,356		3,094
Depreciation and amortization		627		444		1,684		1,333
Interest, net		388		315		1,260		949
Net income	$	537	$	818	$	2,073	$	2,261
Our share of net income	$	303	$	517	$	1,341	$	1,371

Condensed Combined Balance Sheets (Unaudited) for LLCs/LPs Accounted Under Equity Method

Below are the condensed combined balance sheets (unaudited) for the five above-mentioned LLCs/LPs that were accounted for under the equity method as of September 30, 2021 and December 31, 2020:     

	September 30, 2021			December 31, 2020
	(amounts in thousands)
Net property, including construction in progress	$	42,789		$	42,374
Other assets (a.)		9,484			8,818
Total assets	$	52,273		$	51,192
Other liabilities (a.)	$	6,966		$	9,402
Mortgage notes payable, non-recourse to us		22,133			39,735
Advances payable to us (b.)		3,500			-
Equity		19,674			2,055
Total liabilities and equity	$	52,273		$	51,192
Investments in and advances to LLCs before amounts included in
accrued expenses and other liabilities	$	23,123		$	4,278
Amounts included in accrued expenses and other liabilities		(1,896	)		(3,020	)
Our share of equity in LLCs, net	$	21,227		$	1,258

(a.) Other assets and other liabilities as of both September 30, 2021 and December 31, 2020 include approximately $4.3 million of right-of-use land assets and right-of-use land liabilities related to ground leases whereby the LLC/LP is the lessee, with third party lessors, including subsidiaries of UHS.  

(b.) Consists of a 7.25% member loan to FTX MOB Phase II, LP with a maturity date of March 1, 2023.

Aggregate Principal Amounts due on Mortgage and Construction Notes Payable by Unconsolidated LLC's/LPs Accounted Under Equity Method

	Mortgage Loan Balance (a.)
Name of LLC/LP	9/30/2021		12/31/2020		Maturity Date
FTX MOB Phase II (5.00% fixed rate mortgage loan) (b.)	$	-	$	4,777	February, 2021
Grayson Properties (5.034% fixed rate mortgage loan) (c.)		-		13,372	September, 2021
Grayson Properties II (3.70% fixed rate construction loan) (d.)		13,075		12,336	June, 2025
Brunswick Associates (2.80% fixed rate mortgage loan)		9,058		9,250	December, 2030
	$	22,133	$	39,735

(a.) All mortgage loans require monthly principal payments through maturity and include a balloon principal payment upon maturity. 

(b.) Upon maturity in February 2021 this LP paid off this mortgage loan utilizing pro rata equity contributions from the limited partners as well as a $3.5 million member loan from us to the LP which was funded utilizing borrowings from our revolving credit agreement.

(c.) Upon maturity in September, 2021 this LP paid off this mortgage utilizing an equity contribution from us, which was funded utilizing borrowings from our revolving credit agreement.

(d.) This construction loan has a maximum commitment of $13.1 million and requires interest on the outstanding principal balance to be paid on a monthly basis through December 1, 2022.  Monthly principal and interest payments are scheduled to commence on January 1, 2023.