Summarized Financial Information of Equity Affiliates (Tables)

3 Months Ended

Mar. 31, 2022

Equity Method Investments And Joint Ventures [Abstract]

Limited Liability Companies Accounted for Under Equity Method

The following property table represents the four LLCs/LPs in which we owned a non-controlling interest and were accounted for under the equity method as of March 31, 2022:

Name of LLC/LP	Ownership			Property Owned by LLC/LP
Suburban Properties		33	%	St. Matthews Medical Plaza II
Brunswick Associates (a.)(b.)		74	%	Mid Coast Hospital MOB
FTX MOB Phase II (c.)		95	%	Forney Medical Plaza II
Grayson Properties II (d.)(e.)		95	%	Texoma Medical Plaza II

(a.) This LLC has a third-party term loan of $8.9 million, which is non-recourse to us, outstanding as of March 31, 2022.

(b.) We are the lessee with a third party on a ground lease for land.

(c.) During the first quarter of 2021, this LP paid off its $4.7 million mortgage loan, upon maturity, utilizing pro rata equity contributions from the limited partners as well as a $3.5 million member loan from us to the LP which was funded utilizing borrowings from our revolving credit agreement.

(d.) Construction of this MOB was substantially completed in December, 2020. This MOB is located in Denison, Texas on the campus of a hospital owned and operated by a wholly-owned subsidiary of UHS. We have committed to invest up to $4.8 million in equity and debt financing, $1.8 million of which has been funded as of March 31, 2022. This LP entered into a $13.1 million third-party construction loan commitment, which is non-recourse to us, which has an outstanding balance of $13.1 million as of March 31, 2022.  The LP developed, constructed, owns and operates the Texoma II Medical Plaza.

(e.) We are the lessee with a UHS-related party for the land related to this property.

Condensed Combined Statements of Income (Unaudited) for LLCs/LPs Accounted Under Equity Method

Below are the condensed combined statements of income (unaudited) for the four LLCs/LPs accounted for under the equity method at March 31, 2022 and the five LLCs/LPs accounted for under the equity method at March 31, 2021.  The data for the three months ended March 31, 2021 includes financial results for the above-mentioned Texoma Medical Plaza in which we purchased the minority ownership interest during the fourth quarter of 2021.     

	Three Months Ended March 31,
	2022		2021
	(amounts in thousands)
Revenues	$	1,930	$	2,788
Operating expenses		726		1,107
Depreciation and amortization		460		521
Interest, net		262		431
Net income	$	482	$	729
Our share of net income	$	252	$	471

Condensed Combined Balance Sheets (Unaudited) for LLCs/LPs Accounted Under Equity Method

Below are the condensed combined balance sheets (unaudited) for the four above-mentioned LLCs/LPs that were accounted for under the equity method as of March 31, 2021 and December 31, 2021:     

	March 31, 2022			December 31, 2021
	(amounts in thousands)
Net property, including construction in progress	$	30,566		$	30,983
Other assets (a.)		4,320			4,574
Total assets	$	34,886		$	35,557
Other liabilities (a.)	$	2,414		$	2,797
Mortgage notes payable, non-recourse to us		22,000			22,068
Advances payable to us (b.)		3,500			3,500
Equity		6,972			7,192
Total liabilities and equity	$	34,886		$	35,557
Investments in and advances to LLCs before amounts included in
accrued expenses and other liabilities	$	9,960		$	10,139
Amounts included in accrued expenses and other liabilities		(1,764	)		(1,784	)
Our share of equity in LLCs, net	$	8,196		$	8,355

(a.) Other assets and other liabilities as of both March 31, 2022 and December 31, 2021 include approximately $656,000 of right-of-use land assets and right-of-use land liabilities related to ground leases whereby the LLC/LP is the lessee, with third party lessors, including subsidiaries of UHS.  

(b.) Consists of a 7.25% member loan to FTX MOB Phase II, LP with a maturity date of March 1, 2023.

Aggregate Principal Amounts due on Mortgage and Construction Notes Payable by Unconsolidated LLC's/LPs Accounted Under Equity Method

	Mortgage Loan Balance (a.)
Name of LLC/LP	3/31/2022		12/31/2021		Maturity Date
Brunswick Associates (2.80% fixed rate mortgage loan)		8,925		8,993	December, 2030
Grayson Properties II (3.70% fixed rate construction loan) (b.)		13,075		13,075	June, 2025
	$	22,000	$	22,068

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

(b.) This construction loan has a maximum commitment of $13.1 million and requires interest on the outstanding principal balance to be paid on a monthly basis through December 1, 2022.  Monthly principal and interest payments are scheduled to commence on January 1, 2023.