Real Estate and Mortgage Notes Receivable Investments

The Company had investments of approximately $2.9 billion in 205 real estate properties and mortgages as of June 30, 2012. The Company’s 198 owned real estate properties are located in 28 states and total approximately 13.5 million total square feet. The table below details the Company’s investments.



	Number of	Gross Investment				Square Feet
(Dollars and Square Feet in thousands)	Investments	Amount		%		Footage	%
Owned properties:
Multi-tenant leases
Medical office/outpatient	148	$	1,782,088	61.8	%	9,764	72.4	%
Medical office—stabilization in progress	11	379,494		13.1	%	1,186	8.8	%
Other	2	19,767		0.7	%	256	1.9	%
	161	2,181,349		75.6	%	11,206	83.1	%
Single-tenant net leases
Medical office/outpatient	20	190,903		6.6	%	982	7.3	%
Inpatient	14	337,492		11.7	%	1,103	8.2	%
Other	2	9,545		0.3	%	91	0.7	%
	36	537,940		18.6	%	2,176	16.2	%
Construction in progress
Medical office/outpatient	1	9,009		0.3	%	96	0.7	%
Land held for development	—	25,171		0.9	%	—	—
	1	34,180		1.2	%	96	0.7	%
Corporate property	—	14,804		0.5	%	—	—
	—	14,804		0.5	%	—	—
Total owned properties	198	2,768,273		95.9	%	13,478	100.0	%
Mortgage notes receivable:
Medical office/outpatient	4	41,801		1.4	%	—	—
Inpatient	1	36,258		1.3	%	—	—
Other	1	40,000		1.4	%	—	—
	6	118,059		4.1	%	—	—
Unconsolidated joint venture:
Other	1	1,266		—		—	—
	1	1,266		—		—	—
Total real estate investments	205	$	2,887,598	100.0	%	13,478	100.0	%

Mortgage Notes Receivable

All of the Company’s mortgage notes receivable are classified as held-for-investment based on management’s intent and ability to hold the loans until maturity. As such, the loans are carried at amortized cost. A summary of the Company’s mortgage notes receivable is shown in the table below:



(Dollars in thousands)	June 30, 2012		December 31, 2011
Construction mortgage notes	$	68,694	$	51,471
Other mortgage loans	49,365		45,910
	$	118,059	$	97,381

As of June 30, 2012, approximately $68.7 million, or 58.2%, of the Company’s mortgage notes receivable were due from affiliates of the United Trust Fund, which is developing two build-to-suit facilities that are fully leased to Mercy Health. Also, approximately $40.0 million, or 33.9%, of the Company’s mortgage notes receivable were due from LB Properties X, LLC.