Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The table below presents our assets and liabilities measured at fair value on a recurring basis as of June 30, 2018, aggregated by the applicable level in the fair value hierarchy (in thousands):

	Level 1		Level 2		Level 3		Total
Assets:
Derivative financial instruments	$	—	$	1,999	$	—	$	1,999
Liabilities:
Derivative financial instruments	$	—	$	548	$	—	$	548

The table below presents our assets and liabilities measured at fair value on a recurring basis as of December 31, 2017, aggregated by the applicable level in the fair value hierarchy (in thousands):

	Level 1		Level 2		Level 3		Total
Assets:
Derivative financial instruments	$	—	$	1,529	$	—	$	1,529
Liabilities:
Derivative financial instruments	$	—	$	1,089	$	—	$	1,089

Schedule of Fair Value, Assets Measured on Non-Recurring Basis

The table below presents our assets measured at fair value on a non-recurring basis as of June 30, 2018, aggregated by the applicable level in the fair value hierarchy (in thousands):

	Level 1		Level 2		Level 3		Total
Assets:
MOB (1)	$	—	$	12,985	$	—	$	12,985
(1) During the six months ended June 30, 2018, we recognized $4.6 million of impairment charges to the carrying value of two MOBs. The estimated fair value as of June 30, 2018 for these MOBs was based upon a sales agreement.

The table below presents our assets measured at fair value on a non-recurring basis as of December 31, 2017, aggregated by the applicable level in the fair value hierarchy (in thousands):

	Level 1		Level 2		Level 3		Total
Assets:
MOB (1)	$	—	$	10,271	$	—	$	10,271
(1) During the year ended December 31, 2017, we recognized $13.9 million of impairment charges to the carrying value of two MOBs and a portfolio of MOBs. The estimated fair value as of December 31, 2017 for these MOBs was based upon a pending sales agreement and real estate market comparables.