Debt and Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Summary of Required Compliance Ratios Giving Effect to New Covenants in Credit Agreement

The following table includes a summary of the required compliance ratios, giving effect to the covenants contained in the Credit Agreement (dollar amounts in thousands):

		Covenant			2016
Tangible net worth		$	125,000		$	167,462
Total leverage		< 60		%		48.6	%
Secured leverage		< 30		%		18.1	%
Unencumbered leverage		< 60		%		50.3	%
Fixed charge coverage	> 1.50x			3.6x

Outstanding Mortgages, Excluding Net Debt Premium

Facility Name	Outstanding Balance (in thousands)(a.)			Interest Rate			Maturity Date
Summerlin Hospital Medical Office Building III    floating rate mortgage loan (b.)	$	10,384			3.88	%	March, 2017
Peace Health fixed rate mortgage loan (b.)		20,309			5.64	%	April, 2017
Auburn Medical II floating rate mortgage loan (b.)		6,726			3.37	%	April, 2017
Medical Center of Western Connecticut fixed rate    mortgage loan (b.)		4,535			6.00	%	June, 2017
Summerlin Hospital Medical Office Building II fixed    rate mortgage loan (b.)		11,092			5.50	%	October, 2017
Phoenix Children’s East Valley Care Center fixed rate    mortgage loan (b.)		6,202			5.88	%	December, 2017
Centennial Hills Medical Office Building floating rate    mortgage loan		10,040			3.88	%	January, 2018
Sparks Medical Building/Vista Medical Terrace    floating rate mortgage loan		4,231			3.88	%	February, 2018
Rosenberg Children’s Medical Plaza fixed rate    mortgage loan		8,146			4.85	%	May, 2018
Vibra Hospital-Corpus Christi fixed rate mortgage loan		2,723			6.50	%	July, 2019
700 Shadow Lane and Goldring MOBs fixed rate    mortgage loan		6,248			4.54	%	June, 2022
BRB Medical Office Building fixed rate mortgage loan		6,316			4.27	%	December, 2022
Desert Valley Medical Center fixed rate mortgage loan		5,081			3.62	%	January, 2023
2704 North Tenaya Way fixed rate mortgage loan		7,137			4.95	%	November, 2023
Tuscan Professional Building fixed rate mortgage loan		4,992			5.56	%	June, 2025
Total, excluding net debt premium and net financing fees		114,162
Less net financing fees		(381	)
Plus net debt premium		436
Total mortgage notes payable, non-recourse to us, net	$	114,217

(a.) All mortgage loans require monthly principal payments through maturity and either fully amortize or include a balloon principal payment upon maturity.

(b.) This loan is scheduled to mature within the next twelve months, at which time we will decide whether to refinance pursuant to a new mortgage loan or by utilizing borrowings under our Credit Agreement.

Aggregate Consolidated Scheduled Debt Repayments

As of December 31, 2016, our aggregate consolidated scheduled debt repayments (including mortgages) are as follows (amounts in thousands):

2017	$	61,115
2018		23,043
2019 (a.)		205,251
2020		1,292
2021		1,356
Later		23,605
Total	$	315,662

(a) Includes repayment of $201.5 million of outstanding borrowings under the terms of our $250 million revolving credit agreement.