Notes Payable (Tables) (Predecessor) (Ziegler Healthcare Real Estate Funds)

6 Months Ended

Jun. 30, 2013

Ziegler Healthcare Real Estate Funds

Notes payable

Schedule of notes payable

	June 30,		December 31,
	2013		2012
Michigan 6, mortgage loan due in July 2013; monthly payments of principal and interest of $26,535, with a final balloon payment of $2,449,329 due at the maturity date; interest rate of LIBOR plus 1.6% per annum, effective rate of 1.79% as of June 30, 2013.(4)	$	2,329,673	$	2,466,919
Georgia 7, mortgage loan due in June 2017; interest-only payments through June 2009, effective July 2009, monthly principal and interest payments of $39,890, with a final balloon payment of $5,869,275 due at the maturity date; interest rate of 5.942% per annum.	6,356,418		6,403,977
Arizona 23, mortgage loan due in October 2013; monthly payments principal and interest of $15,000 through October 2012; effective November 2012, monthly payments of principal and interest of $7,194, with a final balloon payment of $2,208,568 due at the maturity date; interest rate of LIBOR plus 3.25% per annum, effective rate of 3.44% as of June 30, 2013.(4)	2,237,344		2,280,508
Texas 8, mortgage loan due in October 2013; monthly payments of principal and interest of $8,171, with a final balloon payment of $2,012,853 due at the maturity date; interest rate of LIBOR plus 4% per annum, effective rate of 4.19% as of June 30, 2013.(4)	2,135,535		2,184,559
Georgia 6, mortgage loan due in October 2013; monthly payments of principal and interest of $4,224, with a final balloon payment of $1,090,963 due at the maturity date; interest rate of LIBOR plus 4% per annum, effective rate of 4.19% as of June 30, 2013.(4)	1,107,858		1,133,200
Michigan 5, mortgage loan due in October 2013; monthly payments of principal and interest of $5,106, with a final balloon payment of $835,927 due at the maturity date; interest rate of LIBOR plus 4% per annum, effective rate of 4.19% as of June 30, 2013.(4)	854,191		884,825
Georgia 21, mortgage loan due in July 2013; monthly payments and interest of $28,140 until June 2012, effective July 2012 monthly payment of principal and interest of $29,980, with a final balloon payment of $17,226,037 due at the maturity date; interest rate of LIBOR plus 3.05% per annum, effective rate of 3.24% as of June 30, 2013.(4)	17,224,530		17,404,410

	June 30,		December 31,
	2013		2012
Mezzanine loans payable to three private investors; monthly payments of interest only at an annual rate of 12%; due in July 2013. (4)	4,400,000		4,400,000
Summerfield, mortgage loan due in March 2012; monthly payments of interest only until March 2011; effective April 2011, monthly payments of principal and interest of $5,177; interest rate of 4.25% per annum.(1) (4)	359,031		325,706
Summerfield, $250,000 revolving line of credit due in March 2012; monthly payments of interest only until March 2011; effective April 2011, monthly payments of principal and interest of $8,000; interest rate of 4.25% per annum.(1)(4)	95,970		95,970
Tennessee 14, mortgage loan due June 2017; monthly payments of principal and interest of $66,081, with a final balloon payment of $9,820,300 due at the maturity date; interest rate of 5.81% per annum.	10,666,060		10,747,849
Michigan 12, mortgage loan due January 2017; monthly payments of principal and interest of $36,299, with a final balloon payment of $5,035,493 due at the maturity date; interest rate of 5.93% per annum. (4)	5,563,609		5,613,726
Maine 15, mortgage loan due June 2016; monthly payments of principal and interests of $33,160, with a final balloon payment of $7,639,025 due at the maturity date; interest rate of LIBOR plus 2.25%, effective rate of 2.44% as of June 30, 2013.	8,170,704		8,265,443
Illinois 12, mortgage loan due January 2018; monthly payments of principal and interest of $41,428, with a final balloon payment of $6,169,464 due at maturity; interest rate of 5.35% per annum.	6,815,452		6,847,333
Wisconsin 16, mortgage loan due September 2032 with an anticipated repayment date of September 2017, monthly payments of principal and interest of $20,741; interest rate of 6.58% per annum. If not repaid by anticipated repayment date, effective September 2017, monthly payments adjust based on the property’s cash flow (as defined in the agreement) with the interest rate becoming the greater of 8.58% or the 10 year U.S. treasury rate plus 3%.	2,856,851		2,885,864
Georgia 17, mortgage loan due October 2013, monthly payments of principal and interest of $9,250, with final balloon payment of $2,349,500 due at maturity date; interest rate of LIBOR plus 3.25%, effective rate of 3.44% as of June 30, 2013.(4)	2,377,250		2,432,750
Ohio 19, mortgage loan due February 2018, effective April 2011, monthly payments of principal and interest t $13,242; interest rate of 5.84% per annum. Effective March 2013 and every six months thereafter, the interest rate is subject to adjustment to LIBOR plus 2.4%, but will not exceed 11.31%.(4)	2,152,925		2,174,646
Georgia 20, mortgage loan due July 2013, monthly payments of principal and interest of $10,755, with final balloon payment of $1,617,519 due at maturity date; interest rate of 6.25% per annum.	1,618,812		1,631,947
Remington, mortgage loan due September 2017, monthly payments of principal and interest of $36,675, with a final balloon payment of $5,235,023 due at maturity date; interest rate of LIBOR plus 2.75%, effective rate of 2.94% as of June 30, 2013.(2)	6,472,873		6,309,385
Wisconsin 24, revolving bank line of credit due in August 2014; monthly payments of interest only; interest rate of LIBOR plus 3.25% per annum, effective rate of 3.44% as of June 30, 2013.(3)(4)	—		—
	$	83,795,086	$	84,489,017

(1) On January 24, 2013, Summerfield entered into a forbearance agreement with the lender regarding its mortgage note and outstanding line of credit, pursuant to which the lender agreed not to exercise its rights and remedies available under the forbearance agreement. The forbearance period extends through September 30, 2013, at which time the mortgage note and line of credit is due.

(2) The note was refinanced on September 18, 2012 with an effective date of September 28, 2012. Prior to the refinancing, the loan was payable in monthly payments of principal and interest of $23,468, at an interest rate of LIBOR plus 1.6%.

(3) The revolving line of credit is secured by the investment property owned by Wisconsin 24. Fund IV is contingently liable under certain circumstances for up to 100 percent of the borrowings under the revolving line of credit. As of June 30, 2013, the maximum available borrowings under this agreement were $1,180,000.

(4) On July 24, 2013, proceeds from the IPO were used to repay outstanding indebtedness on the following ten properties:

Property	Amount Repaid
Arizona 23 (Arrowhead Commons)	$	2,237,344
Georgia 20 (Austell Medical Office Building)	1,618,812
Georgia 17 (Decatur Medical Office Building)	2,377,250
Texas 8 (El Paso Medical Office Building)	2,135,535
Michigan 5 (Farmington Professional Pavilion)	854,191
Michigan 6 (Ingham Medical Center)	2,329,673
Ohio 19 (New Albany Professional Building)	2,152,925
Georgia 6 (Northpark Trail)	1,107,858
Summerfield Square	455,001
Georgia 21 (Summit Healthplex — Senior Debt)	17,224,530
Georgia 21 (Summit Healthplex — Mezzanine Debt)	4,400,000
	$	36,893,119

Schedule of notes payable, repayment of outstanding indebtedness from the proceeds from IPO

Property	Amount Repaid
Arizona 23 (Arrowhead Commons)	$	2,237,344
Georgia 20 (Austell Medical Office Building)	1,618,812
Georgia 17 (Decatur Medical Office Building)	2,377,250
Texas 8 (El Paso Medical Office Building)	2,135,535
Michigan 5 (Farmington Professional Pavilion)	854,191
Michigan 6 (Ingham Medical Center)	2,329,673
Ohio 19 (New Albany Professional Building)	2,152,925
Georgia 6 (Northpark Trail)	1,107,858
Summerfield Square	455,001
Georgia 21 (Summit Healthplex — Senior Debt)	17,224,530
Georgia 21 (Summit Healthplex — Mezzanine Debt)	4,400,000
	$	36,893,119

Schedule of principal payments due on notes payable

Year Ending December 31:
2013	$	35,251,314
2014	1,054,578
2015	1,098,285
2016	8,624,861
2017	29,604,187
Thereafter	8,161,861
Total Payments	$	83,795,086