Debt and Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2017

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		March 31, 2017
Tangible net worth	$	125,000	$	191,372
Total leverage	< 60%			44.3	%
Secured leverage	< 30%			16.1	%
Unencumbered leverage	< 60%			40.3	%
Fixed charge coverage	> 1.50x		3.6x

Outstanding Mortgages, Excluding Net Debt Premium

Facility Name	Outstanding Balance (inthousands)(a)			Interest Rate			Maturity Date
Peace Health fixed rate mortgage loan (c.)	$	20,180			5.64	%	April, 2017
Medical Center of Western Connecticut fixed rate    mortgage loan (d.)		4,500			6.00	%	June, 2017
Auburn Medical II floating rate mortgage loan (e.)		6,668			3.53	%	July, 2017
Summerlin Hospital Medical Office Building II fixed    rate mortgage loan (b.)		11,007			5.50	%	October, 2017
Phoenix Children’s East Valley Care Center fixed rate    mortgage loan (b.)		6,164			5.88	%	December, 2017
Centennial Hills Medical Office Building floating rate    mortgage loan (b.)		9,968			4.06	%	January, 2018
Sparks Medical Building/Vista Medical Terrace    floating rate mortgage loan (b.)		4,202			4.06	%	February, 2018
Rosenberg Children’s Medical Plaza fixed rate    mortgage loan		8,103			4.85	%	May, 2018
Vibra Hospital-Corpus Christi fixed rate mortgage loan		2,699			6.50	%	July, 2019
700 Shadow Lane and Goldring MOBs fixed rate    mortgage loan		6,201			4.54	%	June, 2022
BRB Medical Office Building fixed rate mortgage loan		6,269			4.27	%	December, 2022
Desert Valley Medical Center fixed rate mortgage loan		5,047			3.62	%	January, 2023
2704 North Tenaya Way fixed rate mortgage loan		7,105			4.95	%	November, 2023
Tuscan Professional Building fixed rate mortgage loan		4,876			5.56	%	June, 2025
Total, excluding net debt premium and net financing fees		102,989
Less net financing fees		(353	)
Plus net debt premium		368
Total mortgages notes payable, non-recourse to us, net	$	103,004

(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 repaid utilizing borrowings under our Credit Agreement.

(c.) During April, 2017, upon its maturity, this $20.2 million fixed rate mortgage loan on the Peace Health Medical Clinic was repaid utilizing borrowings under our Credit Agreement.

(d.)    Upon its June, 2017 maturity date, we intend to repay this loan utilizing borrowings under our Credit Agreement.

(e.)    The maturity date on this loan has been extended to July, 2017, at which time we intend to repay the loan utilizing borrowings under our Credit Agreement.