Real Property Acquisitions and Development (Tables)

6 Months Ended

Jun. 30, 2021

Estimated Fair Value of Allocated Purchase Price of Asset and Liabilities

The following is a summary of our real property investment activity by segment for the periods presented (in thousands):


	Six Months Ended
	June 30, 2021								June 30, 2020
	Seniors Housing Operating		Triple-net		Outpatient Medical		Totals		Seniors Housing Operating		Triple-net		Outpatient Medical		Totals
Land and land improvements	$	25,636	$	30,849	$	29,735	$	86,220	$	15,758	$	—	$	40,847	$	56,605
Buildings and improvements	167,791		268,210		152,737		588,738		132,480		765		171,457		304,702
Acquired lease intangibles	10,679		—		6,274		16,953		10,810		—		23,823		34,633




Receivables and other assets	634		—		8		642		257		—		139		396
Total assets acquired (1)	204,740		299,059		188,754		692,553		159,305		765		236,266		396,336


Accrued expenses and other liabilities	(2,923)		(8,703)		(266)		(11,892)		(671)		—		(2,036)		(2,707)
Total liabilities acquired	(2,923)		(8,703)		(266)		(11,892)		(671)		—		(2,036)		(2,707)
Noncontrolling interests (2)	(2,597)		(2,056)		(14,723)		(19,376)		(2,827)		—		—		(2,827)

Cash disbursed for acquisitions	199,220		288,300		173,765		661,285		155,807		765		234,230		390,802
Construction in progress additions	93,108		46,904		13,371		153,383		53,705		26,262		26,677		106,644
Less: Capitalized interest	(6,014)		(1,238)		(2,106)		(9,358)		(5,470)		(1,826)		(1,991)		(9,287)
Accruals (3)	8		—		311		319		(1,343)		—		(2,983)		(4,326)
Cash disbursed for construction in progress	87,102		45,666		11,576		144,344		46,892		24,436		21,703		93,031
Capital improvements to existing properties	64,438		15,568		14,477		94,483		87,002		4,700		30,401		122,103
Total cash invested in real property, net of cash acquired	$	350,760	$	349,534	$	199,818	$	900,112	$	289,701	$	29,901	$	286,334	$	605,936

(1) Excludes $301,000 and $580,000 of unrestricted and restricted cash acquired during the six months ended June 30, 2021 and June 30, 2020, respectively.

(2) Includes amounts attributable to both redeemable noncontrolling interests and noncontrolling interests.

(3) Represents non-cash accruals for amounts to be paid in future periods for properties that converted, off-set by amounts paid in the current period.

The following is a summary of the construction projects that were placed into service and began generating revenues during the periods presented (in thousands):


	Six Months Ended
	June 30, 2021		June 30, 2020
Development projects:
Seniors Housing Operating	$	58,844	$	93,188
Triple-net	22,990		33,627
Outpatient Medical	101,867		43,493
Total development projects	183,701		170,308
Expansion projects	—		35,637
Total construction in progress conversions	$	183,701	$	205,945