Real Estate and Other Activities (Tables)

3 Months Ended

Mar. 31, 2021

Real Estate [Abstract]

Net Assets Acquired

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

	For the Three Months Ended March 31,
	2021		2020
Land and land improvements	$	—	$	265,991
Buildings		—		1,608,771
Intangible lease assets — subject to amortization (weighted-      average useful life 30.8 years for 2020)		—		231,774
Mortgage loans		1,090,400		—
Other loans and assets		688,017		1,328
Liabilities assumed		—		(134,203	)
Total net assets acquired	$	1,778,417	$	1,973,661

Summary of Status on Current Development Projects

See table below for a status summary of our current development projects (in thousands):

Property	Commitment		Costs Incurred as of March 31, 2021		Estimated Rent Commencement Date
Ernest Health, Inc. ("Ernest") (Bakersfield, California)	$	47,929	$	28,502	4Q 2021
Ernest (Stockton, California)		47,700		13,539	1Q 2022
	$	95,629	$	42,041

Components of Total Investment in Financing Leases

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

	As of March 31, 2021			As of December 31, 2020
Minimum lease payments receivable	$	1,217,689		$	1,228,966
Estimated residual values		203,818			203,818
Less: Unearned income and allowance for credit loss		(956,490	)		(969,061	)
Net investment in direct financing leases		465,017			463,723
Other financing leases (net of allowance for credit loss)		1,556,463			1,547,199
Total investment in financing leases	$	2,021,480		$	2,010,922

Summary of Loans (Net of Allowance for Credit Loss)

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

	As of March 31, 2021		As of December 31, 2020
Mortgage loans	$	1,324,865	$	248,080
Acquisition loans		682,665		338,273
Other loans		840,001		520,095
Total	$	2,847,531	$	1,106,448