Real Estate and Lending Activities (Tables)

6 Months Ended

Jun. 30, 2015

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Schedule of Unaudited Supplemental Pro Forma Operating Data

The following unaudited supplemental pro forma operating data is presented for the three and six months ended June 30, 2015 and 2014, as if each acquisition (including completed development projects) was completed on January 1, 2014. Supplemental pro forma earnings were adjusted to exclude acquisition-related costs on consummated deals incurred. The unaudited supplemental pro forma operating data is not necessarily indicative of what the actual results of operations would have been assuming the transactions had been completed as set forth above, nor do they purport to represent our results of operations for future periods (in thousands, except per share/unit amounts).

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2015		2014		2015		2014
Total revenues	$	108.8	$	106.2	$	218.7	$	211.5
Net income	$	50.2	$	20.6	$	99.8	$	44.6
Net income per share/unit — diluted	$	0.21	$	0.09	$	0.42	$	0.19

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	Commitment		Costs Incurred as of 06/30/15		Estimated Completion Date
First Choice ER- Aurora	Aurora, CO	Acute Care Hospital	Adeptus Health	$	5,273	$	1,614		3Q 2015
First Choice ER- Carrollton	Carrollton, TX	Acute Care Hospital	Adeptus Health		35,820		30,692		3Q 2015
First Choice ER- Conroe	Houston, TX	Acute Care Hospital	Adeptus Health		6,110		3,150		3Q 2015
First Choice ER- Gilbert	Gilbert, AZ	Acute Care Hospital	Adeptus Health		6,500		4,291		3Q 2015
First Choice ER- McKinney	McKinney, TX	Acute Care Hospital	Adeptus Health		4,750		2,582		3Q 2015
First Choice ER- Chandler-Ray	Chandler, AZ	Acute Care Hospital	Adeptus Health		5,261		1,741		4Q 2015
First Choice ER- Cinco Ranch	Katy, TX	Acute Care Hospital	Adeptus Health		5,105		162		4Q 2015
First Choice ER- Highland Village	Highland Village, TX	Acute Care Hospital	Adeptus Health		4,884		361		4Q 2015
First Choice ER- Parker	Parker, CO	Acute Care Hospital	Adeptus Health		6,868		1,843		4Q 2015
First Choice ER- Frisco Eldorado	Frisco, TX	Acute Care Hospital	Adeptus Health		5,124		50		1Q 2016
First Choice ER- Helotes	Helotes, TX	Acute Care Hospital	Adeptus Health		7,530		2,251		2Q 2016
Rehabilitation Hospital of Northwest Ohio	Toledo, OH	Inpatient Rehabilitation Hospital	Ernest Health		19,212		1,649		2Q 2016
First Choice ER-Vintage Preserve	Houston, TX	Acute Care Hospital	Adeptus Health		45,961		6,376		3Q 2016
First Choice Emergency Rooms	Various	Acute Care Hospital	Adeptus Health		231,649		—		Various
				$	390,047	$	56,762

Components of Net Investment in Direct Financing Leases

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

	As of June 30, 2015			As of December 31, 2014
Minimum lease payments receivable	$	1,627,898		$	1,607,024
Estimated residual values		225,872			211,888
Less: Unearned income		(1,398,750	)		(1,379,396	)
Net investment in direct financing leases	$	455,020		$	439,516

Summary of Loans

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

	As of June 30, 2015		As of December 31, 2014
Mortgage loans	$	437,587	$	397,594
Acquisition loans		503,012		525,136
Working capital and other loans		45,853		48,031
	$	986,452	$	970,761