Real Estate and Lending Activities (Tables)

9 Months Ended

Sep. 30, 2013

Leases [Abstract]

Assets Acquired

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

	2013		2012
Land	$	16,220	$	—
Building		265,030		—
Net investments in direct financing leases		85,000		310,000
Mortgage loans		—		200,000
Other loans		5,250		93,200
Equity investments		—		3,300
Total	$	371,500	$	606,500

Supplemental Pro Forma Earnings Adjusted to Exclude Acquisition-Related Costs

Supplemental pro forma earnings were adjusted to exclude acquisition-related costs on consummated deals incurred in the three and nine months ended September 30, 2012 ($ amounts in thousands, except per share/unit data).

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2013		2012		2013		2012
Total revenues	$	65,518	$	63,695	$	196,708	$	188,339
Net income		29,366		37,091		89,570		92,620
Net income per share/unit — diluted	$	0.18	$	0.25	$	0.55	$	0.63

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 September 30, 2013		Estimated Completion Date
Victoria Rehabilitation Hospital	Victoria, TX	Long-term Acute Care Hospital	Post Acute Medical	$	9,400	$	8,391		4th Qtr 2013
First Choice ER — Brodie	Austin, TX	General Acute Care Hospital	First Choice		5,470		1,509		1st Qtr 2014
First Choice ER — Little Elm	Dallas, TX	General Acute Care Hospital	First Choice		5,200		2,792		4th Qtr 2013
Rehabilitation Hospital of the Northwest	Post Falls, ID	Rehabilitation Hospital	Ernest Health, Inc.		14,387		10,389		4th Qtr 2013
Oakleaf Surgical Hospital	Altoona, WI	General Acute Care Hospital	National Surgical Hospitals		33,500		11,146		3rd Qtr 2014
Northern Utah Rehabilitation Hospital	South Ogden, UT	Rehabilitation Hospital	Ernest Health, Inc.		19,153		7,406		3rd Qtr 2014
First Choice Emergency Rooms	Various	General Acute Care Hospital	First Choice		89,330		—		Various
				$	176,440	$	41,633

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 September 30, 2013			As of December 31, 2012
Minimum lease payments receivable	$	1,566,155		$	1,277,923
Estimated residual values		211,283			201,283
Less: Unearned income		(1,373,926	)		(1,164,794	)
Net investment in direct financing leases	$	403,512		$	314,412

Summary of Loans

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

	As of September 30, 2013		As of December 31, 2012
Mortgage loans	$	368,650	$	368,650
Acquisition loans		103,516		98,433
Working capital and other loans		54,377		57,458
Convertible loan		3,352		3,352
	$	529,895	$	527,893