Debt and Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2019

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, 2019			December 31, 2018
Tangible net worth	> =$125,000	$	177,062		$	181,203
Total leverage	< 60%		41.9	%		41.3	%
Secured leverage	< 30%		9.8	%		9.8	%
Unencumbered leverage	< 60%		38.5	%		37.6	%
Fixed charge coverage	> 1.50x	4.2x			4.3x

Outstanding Mortgages, Excluding Net Debt Premium

As indicated on the following table, we have various mortgages, all of which are non-recourse to us, included on our condensed consolidated balance sheet as of March 31, 2019 (amounts in thousands):

Facility Name	Outstanding Balance (inthousands) (a.)			Interest Rate			Maturity Date
Vibra Hospital-Corpus Christi fixed rate mortgage loan (b.)	$	2,492			6.50	%	July, 2019
700 Shadow Lane and Goldring MOBs fixed rate    mortgage loan		5,810			4.54	%	June, 2022
BRB Medical Office Building fixed rate mortgage loan		5,877			4.27	%	December, 2022
Desert Valley Medical Center fixed rate mortgage loan		4,771			3.62	%	January, 2023
2704 North Tenaya Way fixed rate mortgage loan		6,835			4.95	%	November, 2023
Summerlin Hospital Medical Office Building III fixed    rate mortgage loan		13,197			4.03	%	April, 2024
Tuscan Professional Building fixed rate mortgage loan		3,890			5.56	%	June, 2025
Phoenix Children’s East Valley Care Center fixed rate    mortgage loan		9,136			3.95	%	January, 2030
Rosenberg Children's Medical Plaza fixed rate mortgage loan		12,895			4.42	%	September, 2033
Total, excluding net debt premium and net financing fees		64,903
Less net financing fees		(681	)
Plus net debt premium		234
Total mortgages notes payable, non-recourse to us, net	$	64,456

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

(b) On April 2, 2019, a $2.5 million fixed rate mortgage loan on Vibra Hospital – Corpus Christi was fully repaid utilizing borrowings under our Credit Agreement.