Real Estate and Lending Activities (Tables)

3 Months Ended

Mar. 31, 2019

Real Estate [Abstract]

Assets Acquired

We acquired the following assets (in thousands):

	Three Months Ended March 31,
	2019		2018
Assets Acquired
Land	$	169	$	—
Building		5,327		—
Intangible lease assets — subject to amortization		996		—
Total assets acquired	$	6,492	$	—

Summary of Status Update on Current Development Projects

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

Property	Commitment		Costs Incurred as of March 31, 2019		Estimated Rent Commencement Date
Circle Health (Birmingham, England)	$	44,241	$	34,705	3Q 2019
Circle Health Rehabilitation (Birmingham, England)		21,979		11,677	3Q 2019
Surgery Partners (Idaho Falls, Idaho)		113,468		55,857	1Q 2020
	$	179,688	$	102,239

Summary of Future Minimum Lease Payments to be Received

The following table summarizes future minimum lease payments to be received, excluding operating expense reimbursements, from tenants under noncancelable leases as of March 31, 2019 (in thousands):

	Total Under Operating Leases		Total Under DFLs		Total
2019 (nine months only)	$	329,487	$	48,491	$	377,978
2020		438,596		66,008		504,604
2021		447,232		67,388		514,620
2022		452,173		68,796		520,969
2023		459,222		70,232		529,454
Thereafter		9,636,734		1,550,857		11,187,591
	$	11,763,444	$	1,871,772	$	13,635,216

Components of Net Investment in Direct Financing Leases

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

	As of March 31, 2019			As of December 31, 2018
Minimum lease payments receivable	$	2,078,099		$	2,091,504
Estimated residual values		421,893			424,719
Less: Unearned income		(1,815,445	)		(1,832,170	)
Net investment in direct financing leases	$	684,547		$	684,053

Summary of Loans

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

	As of March 31, 2019		As of December 31, 2018
Mortgage loans	$	1,214,780	$	1,213,322
Other loans		365,402		373,198
Total	$	1,580,182	$	1,586,520