Impairment and Dispositions

6 Months Ended

Jun. 30, 2018

Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract]

Impairment and Dispositions

Impairment and Dispositions

During the six months ended June 30, 2018, we recorded impairment charges of $4.6 million on two MOBs located in Texas and South Carolina with an aggregate value of $13.0 million. During the six months ended June 30, 2017, we completed the disposition of an MOB located in Texas for a gross sales price of $5.0 million representing approximately 48,000 square feet of gross leasable area (“GLA”). In addition, during the three months ended June 30, 2017, we recorded impairment charges of $5.1 million related to one MOB located in Massachusetts.

Subsequent to June 30, 2018, we entered into an agreement to sell a portfolio of MOBs affiliated with Greenville Health System for $285.0 million. The portfolio consists of 16 MOBs totaling approximately 856,000 square feet of GLA located in Greenville, South Carolina. This transaction is subject to customary closing conditions and no closings are assured. In addition, we closed one MOB subsequent to June 30, 2018, for a gross sales price of $9.3 million which was classified as held for sale as of June 30, 2018. See Note 4 - Assets Held for Sale for more detail.