ACQUISITIONS OF REAL ESTATE PROPERTY

9 Months Ended

Sep. 30, 2017

Business Combinations [Abstract]

ACQUISITIONS OF REAL ESTATE PROPERTY

NOTE 4—ACQUISITIONS OF REAL ESTATE PROPERTY

We acquire and invest in seniors housing and healthcare properties primarily to achieve an expected yield on investment, to grow and diversify our portfolio and revenue base, and to reduce our dependence on any single tenant, operator or manager, geographic location, asset type, business model or revenue source.

During the nine months ended September 30, 2017, we acquired 14 triple-net leased properties (including six assets previously owned by an equity method investee) and two properties reported within our office operations reportable business segment (one life science, research and medical campus and one medical office building) for an aggregate purchase price of $410.8 million. Each of these acquisitions was accounted for as an asset acquisition.

During the nine months ended September 30, 2017, we completed the development of one triple-net leased property, representing $6.5 million of net real estate property on our Consolidated Balance Sheets.