Real Estate and Lending Activities (Tables)

6 Months Ended

Jun. 30, 2020

Real Estate [Abstract]

Net Assets Acquired

We acquired or invested in the following net assets (in thousands):

	For the Six Months Ended June 30,
	2020			2019
Land and land improvements	$	265,991		$	242,682
Buildings		1,608,771			784,184
Intangible lease assets — subject to amortization (weighted average useful    life 30.8 years for 2020 and 18.5 years for 2019)		231,774			91,050
Equity investments		—			284,399
Mortgage loans		47,641			—
Other assets		1,328			—
Other loans		205,000			—
Liabilities assumed		(134,203	)		—
Total	$	2,226,302		$	1,402,315

Summary of Status on Current Development Projects

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

Property	Commitment		Costs Incurred as of June 30, 2020		Estimated Rent Commencement Date
NeuroPsychiatric Hospitals (Houston, Texas)	$	27,500	$	16,586	4Q 2020
Ernest (Bakersfield, California)		47,929		11,088	4Q 2021
	$	75,429	$	27,674

Components of Total Investment in Financing Leases

The components of our total investment in financing leases consisted of the following (in thousands):

	As of June 30, 2020			As of December 31, 2019
Minimum lease payments receivable	$	1,853,967		$	1,884,921
Estimated residual values		394,195			394,195
Less: Unearned income and allowance for credit loss		(1,584,334	)		(1,618,252	)
Net investment in direct financing leases		663,828			660,864
Other financing leases (net of allowance for credit loss)		1,414,381			1,399,438
Total investment in financing leases	$	2,078,209		$	2,060,302

Summary of Loans (Net of Allowance for Credit Loss)

The following is a summary of our loans (net of allowance for credit loss in 2020):

(in thousands)	As of June 30, 2020		As of December 31, 2019
Mortgage loans	$	1,339,258	$	1,275,022
Acquisition loans		330,792		123,893
Other loans		461,219		420,939
Total	$	2,131,269	$	1,819,854