DISPOSITIONS

2015 Activity

During the six months ended June 30, 2015, we sold 30 triple-net leased properties and 25 MOBs for aggregate consideration of $423.3 million, including lease termination fees of $5.5 million (included within triple-net leased rental income in our Consolidated Statements of Income). As of June 30, 2015, $124.3 million of the proceeds received from these sales was held in an Internal Revenue Code Section 1031 exchange escrow account with a qualified intermediary. We recognized a gain on the sales of these assets of $32.6 million (net of taxes), of which $18.1 million is being deferred due to an unsecured loan we made to the buyer in connection with the sale of certain assets. The gain will be deferred and subsequently recognized into income as principal payments are made on the loan over its five-year term.

2014 Activity

During the six months ended June 30, 2014, we sold eight triple-net leased properties and four MOBs for aggregate consideration of $52.4 million and recognized a net gain on the sales of these assets of $16.3 million, of which $1.5 million is reported within discontinued operations in our Consolidated Statements of Income.

Discontinued Operations and Assets Held for Sale

We present separately, as discontinued operations in all periods presented, the results of operations for all real estate assets classified as held for sale as of June 30, 2015, and all real estate assets disposed of during the period from January 1, 2014 through June 30, 2015, that meet the criteria of discontinued operations.

The table below summarizes our real estate assets classified as held for sale as of June 30, 2015 and December 31, 2014, including the amounts reported within other assets and accounts payable and other liabilities on our Consolidated Balance Sheets.



	June 30, 2015					December 31, 2014
	Number of Properties Held for Sale (1)	Other Assets		Accounts Payable and Other Liabilities		Number of Properties Held for Sale (1)	Other Assets		Accounts Payable and Other Liabilities
	(Dollars in thousands)
Triple-net leased properties	11	$	24,119	$	1,120	14	$	34,097	$	1,330
MOB operations	11	81,961		36,224		36	176,366		48,895
Total	22	$	106,080	$	37,344	50	$	210,463	$	50,225


(1)	The operations for one triple-net leased property and two MOBs are reported in discontinued operations in our Consolidated Statements of Income.

We recognized impairments of $28.7 million and $8.4 million for the six months ended June 30, 2015 and 2014, respectively, which are recorded primarily as a component of depreciation and amortization. For the six months ended June 30, 2015 and 2014, $0.1 million and $1.5 million of impairments were recorded in discontinued operations in our Consolidated Statements of Income.

Set forth below is a summary of our results of operations for properties within discontinued operations for the three and six months ended June 30, 2015 and 2014.



	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2015			2014			2015			2014
	(In thousands)
Revenues:
Rental income	$	69		$	1,808		$	141		$	4,008
Interest and other income	—			—			—			750
	69			1,808			141			4,758
Expenses:
Interest	110			503			362			1,181
Depreciation and amortization	12			1,247			24			1,528
Property-level operating expenses	89			(1		)	177			280
Other	68			130			211			246
	279			1,879			774			3,235
(Loss) income before gain (loss) on real estate dispositions	(210		)	(71		)	(633		)	1,523
Gain (loss) on real estate dispositions	277			(184		)	277			1,253
Discontinued operations	$	67		$	(255	)	$	(356	)	$	2,776