Debt and Financial Instruments (Tables)

12 Months Ended

Dec. 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			2017
Tangible net worth		$	136,170		$	190,002
Total leverage		< 60		%		41.2	%
Secured leverage		< 30		%		11.7	%
Unencumbered leverage		< 60		%		37.7	%
Fixed charge coverage	> 1.50x			3.8x

Outstanding Mortgages, Excluding Net Debt Premium

Facility Name	Outstanding Balance (in thousands)(a.)			Interest Rate			Maturity Date
Sparks Medical Building/Vista Medical Terrace    floating rate mortgage loan (b.)	$	4,130			4.63	%	February, 2018
Centennial Hills Medical Office Building floating rate    mortgage loan (c.)		9,764			4.63	%	April, 2018
Rosenberg Children’s Medical Plaza fixed rate    mortgage loan (c.)		7,968			4.85	%	May, 2018
Vibra Hospital-Corpus Christi fixed rate mortgage loan		2,624			6.50	%	July, 2019
700 Shadow Lane and Goldring MOBs fixed rate    mortgage loan		6,059			4.54	%	June, 2022
BRB Medical Office Building fixed rate mortgage loan		6,126			4.27	%	December, 2022
Desert Valley Medical Center fixed rate mortgage loan		4,946			3.62	%	January, 2023
2704 North Tenaya Way fixed rate mortgage loan		7,007			4.95	%	November, 2023
Summerlin Hospital Medical Office Building III    floating rate mortgage loan		13,199			4.03	%	April, 2024
Tuscan Professional Building fixed rate mortgage loan		4,519			5.56	%	June, 2025
Phoenix Children’s East Valley Care Center fixed rate    mortgage loan		9,400			3.95	%	January, 2030
Total, excluding net debt premium and net financing fees		75,742
Less net financing fees		(680	)
Plus net debt premium		297
Total mortgage notes payable, non-recourse to us, net	$	75,359

(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 was fully repaid upon its maturity, utilizing borrowings under our Credit Agreement.

(c) 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, 2017, our aggregate consolidated scheduled debt repayments (including mortgages) are as follows (amounts in thousands):

2018	$	23,347
2019 (a.)		185,035
2020		1,688
2021		1,846
2022		11,950
Later		32,926
Total	$	256,792

(a) Includes repayment of $181.1 million of outstanding borrowings under the terms of our $250 million revolving credit agreement.