Real Estate Notes Receivable

6 Months Ended

Jun. 30, 2013

Real Estate Notes Receivable, Net [Abstract]

Real Estate Notes Receivable

Real Estate Notes Receivable

Real estate notes receivable consisted of the following as of June 30, 2013 and December 31, 2012 (in thousands):

	June 30, 2013		December 31, 2012
Real estate notes receivable	$	20,000	$	20,000

Our real estate notes receivable balance consists of four promissory notes receivable secured by medical office buildings, with interest rates ranging from 10.85% to 10.95% per annum. The weighted average effective interest rate based on the purchase price of the notes was 14.57% per annum as of June 30, 2013. The promissory notes were scheduled to mature on May 1, 2013, but were extended to November 1, 2013.

We monitor the credit quality of our real estate notes receivable on an ongoing basis by tracking possible credit quality indicators. As of June 30, 2013, all of our real estate notes receivable are current and we have not provided for any allowance for losses or recorded any impairments with respect to our notes receivable. We made no purchases or sales of real estate notes receivable during the six months ended June 30, 2013.