XML 22 R46.htm IDEA: XBRL DOCUMENT v2.4.0.8
Debt (Details) (USD $)
0 Months Ended 12 Months Ended 0 Months Ended 12 Months Ended 0 Months Ended 12 Months Ended 0 Months Ended 12 Months Ended 0 Months Ended 0 Months Ended 12 Months Ended 0 Months Ended 0 Months Ended 12 Months Ended 0 Months Ended 0 Months Ended 12 Months Ended 12 Months Ended 0 Months Ended 12 Months Ended 0 Months Ended
Sep. 14, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Minimum
Dec. 31, 2012
Minimum
Dec. 31, 2013
Maximum
Dec. 31, 2012
Maximum
Dec. 31, 2013
Mortgage notes payable
Dec. 31, 2012
Mortgage notes payable
Dec. 31, 2013
Sun Life
Dec. 31, 2012
Sun Life
Oct. 07, 2013
Bank of America Unsecured Credit Facility and Unsecured Term Loan
Oct. 07, 2013
Bank of America Unsecured Credit Facility and Unsecured Term Loan
Original Terms
Oct. 07, 2013
Bank of America Unsecured Credit Facility and Unsecured Term Loan
Base Rate
Original Terms
Oct. 07, 2013
Bank of America Unsecured Credit Facility and Unsecured Term Loan
Eurodollar Rate
Original Terms
Oct. 07, 2013
Bank of America Unsecured Credit Facility and Unsecured Term Loan
Minimum
Base Rate
Original Terms
Oct. 07, 2013
Bank of America Unsecured Credit Facility and Unsecured Term Loan
Minimum
Eurodollar Rate
Original Terms
Oct. 07, 2013
Bank of America Unsecured Credit Facility and Unsecured Term Loan
Maximum
Base Rate
Original Terms
Oct. 07, 2013
Bank of America Unsecured Credit Facility and Unsecured Term Loan
Maximum
Eurodollar Rate
Original Terms
Dec. 31, 2013
Webster Bank, maturity date Aug 4, 2016
Dec. 31, 2012
Webster Bank, maturity date Aug 4, 2016
Dec. 31, 2013
Bank of America Unsecured Credit Facility, due on September 10, 2016
Dec. 31, 2012
Bank of America Unsecured Credit Facility, due on September 10, 2016
Oct. 07, 2013
Bank of America Unsecured Credit Facility, due on September 10, 2016
Amended Terms
Oct. 07, 2013
Bank of America Unsecured Credit Facility, due on September 10, 2016
Base Rate
Amended Terms
Oct. 07, 2013
Bank of America Unsecured Credit Facility, due on September 10, 2016
Eurodollar Rate
Amended Terms
Dec. 31, 2013
Bank of America Unsecured Credit Facility, due on September 10, 2016
Minimum
Dec. 31, 2012
Bank of America Unsecured Credit Facility, due on September 10, 2016
Minimum
Oct. 07, 2013
Bank of America Unsecured Credit Facility, due on September 10, 2016
Minimum
Base Rate
Amended Terms
Oct. 07, 2013
Bank of America Unsecured Credit Facility, due on September 10, 2016
Minimum
Eurodollar Rate
Amended Terms
Dec. 31, 2013
Bank of America Unsecured Credit Facility, due on September 10, 2016
Maximum
Dec. 31, 2012
Bank of America Unsecured Credit Facility, due on September 10, 2016
Maximum
Oct. 07, 2013
Bank of America Unsecured Credit Facility, due on September 10, 2016
Maximum
Base Rate
Amended Terms
Oct. 07, 2013
Bank of America Unsecured Credit Facility, due on September 10, 2016
Maximum
Eurodollar Rate
Amended Terms
Dec. 31, 2013
Union Fidelity
Dec. 31, 2012
Union Fidelity
Dec. 31, 2013
Webster Bank, maturity date May 29, 2017
Dec. 31, 2012
Webster Bank, maturity date May 29, 2017
Dec. 31, 2013
Webster Bank, maturity date May 31, 2017
Dec. 31, 2012
Webster Bank, maturity date May 31, 2017
Sep. 14, 2012
Bank of America Unsecured Term Loan, due on September 10, 2017
Dec. 31, 2013
Bank of America Unsecured Term Loan, due on September 10, 2017
Dec. 31, 2012
Bank of America Unsecured Term Loan, due on September 10, 2017
Sep. 10, 2012
Bank of America Unsecured Term Loan, due on September 10, 2017
Oct. 07, 2013
Bank of America Unsecured Term Loan, due on September 10, 2017
Base Rate
Amended Terms
Oct. 07, 2013
Bank of America Unsecured Term Loan, due on September 10, 2017
Eurodollar Rate
Amended Terms
Oct. 07, 2013
Bank of America Unsecured Term Loan, due on September 10, 2017
Minimum
Base Rate
Amended Terms
Oct. 07, 2013
Bank of America Unsecured Term Loan, due on September 10, 2017
Minimum
Eurodollar Rate
Amended Terms
Oct. 07, 2013
Bank of America Unsecured Term Loan, due on September 10, 2017
Maximum
Base Rate
Amended Terms
Oct. 07, 2013
Bank of America Unsecured Term Loan, due on September 10, 2017
Maximum
Eurodollar Rate
Amended Terms
Dec. 31, 2013
CIGNA-1 Facility
Dec. 31, 2012
CIGNA-1 Facility
Dec. 31, 2013
CIGNA-2 Facility
Dec. 31, 2012
CIGNA-2 Facility
Dec. 31, 2013
CIGNA-3 Facility
Dec. 31, 2012
CIGNA-3 Facility
Feb. 14, 2013
Wells Fargo, Unsecured Term Loan, due on February 14, 2020
Dec. 31, 2013
Wells Fargo, Unsecured Term Loan, due on February 14, 2020
Feb. 14, 2013
Wells Fargo, Unsecured Term Loan, due on February 14, 2020
LIBOR
Dec. 31, 2013
Wells Fargo, CMBS Loan
Dec. 31, 2012
Wells Fargo, CMBS Loan
Nov. 08, 2012
Wells Fargo, CMBS Loan
Oct. 07, 2013
Unsecured Credit Facility
Sep. 10, 2012
Unsecured Credit Facility
Dec. 31, 2013
Unsecured Credit Facility
Minimum
Dec. 31, 2013
Unsecured Credit Facility
Maximum
Sep. 10, 2012
Swing line loans
Sep. 10, 2012
Letter of credit
Dec. 31, 2013
CIGNA-1, CIGNA-2, and CIGNA-3 facilities
item
Sep. 10, 2012
Wells Fargo Master Loan-Fixed Amount
Aug. 15, 2012
Wells Fargo Master Loan-Fixed Amount
Sep. 10, 2012
Credit Facility
Oct. 07, 2013
Unsecured Term Loan
Sep. 10, 2012
Unsecured Term Loan
Dec. 31, 2013
Unsecured Term Loan
Minimum
Dec. 31, 2012
Unsecured Term Loan
Minimum
Dec. 31, 2013
Unsecured Term Loan
Maximum
Dec. 31, 2012
Unsecured Term Loan
Maximum
Jun. 27, 2012
Bank of America, N.A.
Debt instruments                                                                                                                                                              
Interest rate base   One-month LIBOR One-month LIBOR                     Base rate one month-LIBOR             LIBOR     Base rate one month-LIBOR                               LIBOR     Base rate one month-LIBOR                       LIBOR one-month LIBOR                                        
Interest rate margin (as a percent)                               0.65% 1.65% 1.25% 2.25%     1.45%         1.45% 1.45% 0.45% 1.45% 1.65% 1.65% 1.05% 2.05%               1.40%         0.40% 1.40% 1.00% 2.00%               2.15% 2.70%                               1.40% 1.40% 1.65% 1.65%  
Interest Rate (as a percent)                   6.05%                   4.22%                             5.81%   3.66%   3.64%                       6.50%   5.75%   5.88%         4.31%                                     7.05%
One-month LIBOR rate (as a percent)   0.1677% 0.2087%                                                                                                                                                        
Principal outstanding   $ 556,091,000 $ 479,215,000         $ 225,591,000 $ 229,915,000 $ 3,817,000 $ 4,079,000                 $ 5,834,000 $ 5,984,000 $ 80,500,000 $ 99,300,000                       $ 6,551,000 $ 6,898,000 $ 3,121,000 $ 3,203,000 $ 3,360,000 $ 3,450,000   $ 150,000,000 $ 150,000,000               $ 58,874,000 $ 59,645,000 $ 59,990,000 $ 60,863,000 $ 16,879,000 $ 17,097,000   $ 100,000,000   $ 67,165,000 $ 68,696,000 $ 68,800,000                                  
Repayment of principal outstanding                                                                                                                                           18,700,000                 8,100,000
New or additional borrowings                                                                                                                 150,000,000                                            
Unamortized fair market value premium   288,000           288,000   200,000 200,000                                               100,000 200,000                                                                                      
Portion of unsecured term loan swapped from LIBOR for fixed rate 100,000,000                                                                                 100,000,000                               125,000,000                                          
Unused commitment fees                                           600,000 100,000                                                                   300,000                             2,500,000              
Unsecured Term Loan                                                                                 150,000,000     150,000,000                           150,000,000                               150,000,000          
Additional borrowing capacity                                                                                                                 250,000,000                 300,000,000                          
Variable rate received under agreement                                                                                 One-month LIBOR One-month LIBOR                                                                          
Consolidated leverage ratio                                                                                                                                   0.60                          
Secured leverage ratio                                                                                                                                   0.45                          
Unencumbered leverage ratio                                                                                                                                   0.60                          
Secured recourse debt ratio                                                                                                                                   7.50                          
Fixed charge ratio                                                                                                                                 1.50                            
Discount rate at which cash flows are discounted (as a percent)     11.40% 1.57% 1.86% 5.24% 4.64%                                                                                                                                                
Fair value               228,996,000 242,175,000                         80,500,000 99,300,000                                     148,781,000 150,000,000                             97,302,000                                          
Remaining borrowing capacity                                                                                   0                 0   2,900,000   47,900,000     50,000,000                                          
Maximum borrowing capacity                                           119,300,000                                                                                   200,000,000     10,000,000 10,000,000                      
Gain (loss) on early extinguishment of the loan     (929,000)                                                                                                                                                       18,000
Service coverage ratio after to satisfaction of an appraisal condition                                                                                                                                   1.6                          
Pre-payment penalties                                                                                                                                           0   0             0
Loss on early extinguishment of credit facility                                                                                                                                           400,000   500,000              
Unused commitment fee (as a percent)                                                                                                                 0.35%                                            
Unused commitment fee when usage more than 50 % (as a percent)                         0.25%                     0.20%                                                                                                              
Unused commitment fee when usage less than 50 % (as a percent)                         0.35%                     0.25%                                                                                                              
Deferred financing fees, net   5,467,000 4,704,000                                                                                                           1,400,000           300,000                   200,000            
Deferred financing fees amortization period                                                                                                                 7 years           3 years                 5 years 4 years            
Deferred financing fees expensed as a loss on extinguishment of debt                       0                                                                                                                                      
Deferred annual fees                                                                                                                 50,000                                            
Deferred annual fees amortization period                                                                                                                 1 year                                            
Prepayment of debt                                                                                                                                             105,000,000                
Number of properties held as collateral that are cross-collateralized                                                                                                                                         21                    
Net book value of collateralized properties for debt arrangements   262,700,000 269,100,000                                                                                                                                                        
Aggregate future principal payments of mortgage notes payable, Unsecured credit facility                                                                                                                                                              
2014               4,447,000                                                                                                                                              
2015               4,688,000                                                                                                                                              
2016               93,777,000                                                                                                                                              
2017               165,506,000                                                                                                                                              
2018               113,377,000                                                                                                                                              
Thereafter               174,008,000                                                                                                                                              
Total aggregate principal payments               555,803,000                                                                                                                                              
Unamortized fair market value premium   288,000           288,000   200,000 200,000                                               100,000 200,000                                                                                      
Total carrying value of debt   $ 225,591,000 $ 229,915,000         $ 556,091,000