Real Estate Leases

12 Months Ended

Dec. 31, 2013

Leases, Operating [Abstract]

Leases of Lessor Disclosure [Text Block]

Real Estate Leases

Real Estate Leases

The Company’s properties are generally leased pursuant to non-cancelable, fixed-term operating leases or are supported through other financial support arrangements with expiration dates through 2033. Some leases and financial arrangements provide for fixed rent renewal terms in addition to market rent renewal terms. Some leases provide the lessee, during the term of the lease and for a short period thereafter, with an option or a right of first refusal to purchase the leased property. The Company’s portfolio of single-tenant net leases generally requires the lessee to pay minimum rent, additional rent based upon fixed percentage increases or increases in the Consumer Price Index and all taxes (including property tax), insurance, maintenance and other operating costs associated with the leased property.

Future minimum lease payments under the non-cancelable operating leases and guaranteed amounts due to the Company under property operating agreements as of December 31, 2013 are as follows (in thousands):

2014	$	258,195
2015	222,718
2016	194,306
2017	169,519
2018	140,009
2019 and thereafter	599,467
	$	1,584,214

Revenue Concentrations

The Company’s real estate portfolio is leased to a diverse tenant base. For the year ended December 31, 2013, the Company had one customer that accounted for more than 10% of the Company’s consolidated revenues including revenues from discontinued operations, Baylor Scott & White Health at 11%. The Company did not have any customers that accounted for 10% or more of the Company's consolidated revenues, including discontinued operations for the year ended December 31, 2012. The Company had one customer, Baylor Health System, that accounted for 10% of the Company’s consolidated revenues, including discontinued operations, for the year ended December 31, 2011.

Purchase Option Provisions

Certain of the Company’s leases and its five property operating agreements include purchase option provisions. The provisions vary by agreement but generally allow the lessee or sponsoring health system to purchase the property covered by the agreement at the greater of fair market value or an amount equal to the Company’s gross investment. The Company had approximately $224.0 million in real estate properties as of December 31, 2013 that were subject to purchase options that were exercisable or become exercisable during 2014.