Credit Concentration Credit Concentration

9 Months Ended

Sep. 30, 2016

Concentration Risks, Types, No Concentration Percentage [Abstract]

Credit Concentration

Credit Concentration

The Trust uses annualized base rent (“ABR”) as its credit concentration metric. Annualized base rent is calculated by multiplying contractual base rent for the month ended September 30, 2016 by 12, excluding the impact of concessions and straight-line rent. The following table summarizes certain information about the Company’s top five tenant credit concentrations as of September 30, 2016 (in thousands):

Tenant	Total ABR		Percent of ABR
CHI - KentuckyOne Health	$	12,805	6.31	%
CHI - Nebraska	9,275		4.57	%
CHI - Franciscan (Seattle-Tacoma)	5,420		2.67	%
CHI - St. Alexius (North Dakota)	5,278		2.60	%
Great Falls Hospital	5,145		2.53	%
Remaining portfolio	165,144		81.32	%
Total	203,067		100.00	%

Annualized base rent collected from the Company’s top five tenant relationships comprises 18.68% of its total annualized base rent for the period ending September 30, 2016. Total annualized base rent from CHI affiliated tenants totals 18.89%, including the affiliates disclosed above.

The following table summarizes certain information about the Company’s top five geographic concentrations as of September 30, 2016 (in thousands):

State	Total ABR		Percent of ABR
Texas	$	24,763	12.19	%
Kentucky	15,555		7.66	%
Indiana	12,813		6.31	%
Arizona	12,444		6.13	%
Washington	12,193		6.00	%
Other	125,299		61.71	%
Total	203,067		100.00	%