Real Estate and Lending Activities (Tables)

6 Months Ended

Jun. 30, 2013

Leases [Abstract]

Assets Acquired

As part of these acquisitions, we purchased and invested in the following: (in thousands)

	2013		2012
Net investments in direct financing leases	$	75,000	$	200,000
Mortgage loans		—		100,000
Other loans		—		93,200
Equity investments		—		3,300
Total	$	75,000	$	396,500

Summary of Status Update on Current Development Projects

See table below for a status update on our current development projects (in thousands):

Property	Location	Property Type	Operator	Original Commitment		Costs Incurred as of June 30, 2013		Estimated Completion Date
Victoria	Victoria, TX	Long-term Acute Care Hospital	Post Acute Medical	$	9,400	$	7,937		3rd Qtr 2013
Spartanburg	Spartanburg, SC	Rehabilitation Hospital	Ernest Health, Inc.		17,805		12,275		3rd Qtr 2013
Post Falls	Post Falls, ID	Rehabilitation Hospital	Ernest Health, Inc.		14,387		4,937		4th Qtr 2013
Oakleaf	Altoona, WI	General Acute Care Hospital	National Surgical Hospitals		33,500		3,201		1st Qtr 2014
Northern Utah Rehabilitation Hospital	South Ogden, UT	Rehabilitation Hospital	Ernest Health, Inc.		19,153		2,650		3rd Qtr 2014
First Choice Emergency Rooms	Various	General Acute Care Hospital	First Choice		100,000		—		Various
				$	194,245	$	31,000

Components of Net Investment in Direct Financing Leases

The components of our net investment in DFL consisted of the following (dollars in thousands):

	As of June 30, 2013			As of December 31, 2012
Minimum lease payments receivable	$	1,531,874		$	1,277,923
Estimated residual values		201,283			201,283
Less: Unearned income		(1,341,253	)		(1,164,794	)
Net investment in direct financing leases	$	391,904		$	314,412

Summary of Loans

The following is a summary of our loans (in thousands):

	As of June 30, 2013		As of December  31, 2012
Mortgage loans	$	368,650	$	368,650
Acquisition loans		98,433		98,433
Working capital and other loans		55,466		57,458
Convertible loan		3,352		3,352
	$	525,901	$	527,893