Schedule III – Real Estate and Accumulated Depreciation as of December 31, 2014

(Dollars in thousands)



			Land						Buildings, Improvements, Lease Intangibles and CIP
Property Type	Number of Properties	State	Initial Investment		Cost Capitalized Subsequent to Acquisition		Total		Initial Investment		Cost Capitalized Subsequent to Acquisition		Total		Personal Property		(2) (3) (5) Total Property		(1) (3) (5) Accumulated Depreciation		(4) Encumbrances		Date Acquired	Date Constructed
Medical office/outpatient	175	AL, AZ, CA, CO, DC, FL, GA, HI, IA, IL, IN, KS, LA, MD, MI, MN, MO, MS, NC, NV, OH, OK, OR, SC, SD, TN, TX, VA, WA	$	155,470	$	2,725	$	158,195	$	2,200,146	$	356,836	$	2,556,982	$	3,507	$	2,718,684	$	589,686	$	171,796	1993-2014	1905 -2014
Inpatient	14	AZ, CA, CO, IN, MO, PA, TX	23,236		150		23,386		406,108		14,161		420,269		265		443,920		84,285		—		1994-2013	1983 -2013
Other	11	AL, IA, IN, MI TN, VA	1,828		73		1,901		76,014		7,808		83,822		679		86,402		27,330		1,471		1993-2014	1906 - 2008
Total Real Estate	200		180,534		2,948		183,482		2,682,268		378,805		3,061,073		4,451		3,249,006		701,301		173,267
Land Held for Develop.	—		17,054		—		17,054		—		—		—		—		17,054		115		—
Corporate Property	—		—		—		—		—		—		—		5,476		5,476		3,719		—
Total Properties	200		$	197,588	$	2,948	$	200,536	$	2,682,268	$	378,805	$	3,061,073	$	9,927	$	3,271,536	$	705,135	$	173,267

(1)

Includes two assets held for sale as of December 31, 2014 of approximately $13.3 million (gross) and accumulated depreciation of $4.5 million, three asset held for sale as of December 31, 2013 of approximately $17.0 million (gross) and accumulated depreciation of $10.2 million; and one assets held for sale as of December 31, 2012 of $9.6 million (gross) and accumulated depreciation of $6.3 million.


(2)	Total assets as of December 31, 2014 have an estimated aggregate total cost of $3.3 billion for federal income tax purposes.


(3)	Depreciation is provided for on a straight-line basis on buildings and improvements over 3.3 to 39.0 years, lease intangibles over 1.0 to 93.1 years, personal property over 1.9 to 15.8 years, and land improvements over 15.0 to 38.1 years.


(4)	Includes unamortized premium of $3.2 million and unaccreted discount of $2.5 million as of December 31, 2014.


(5)	A reconciliation of Total Property and Accumulated Depreciation for the twelve months ended December 31, 2014, 2013 and 2012 follows:



	Year Ended December 31, 2014⁽¹⁾						Year Ended December 31, 2013⁽¹⁾						Year Ended December 31, 2012 ⁽¹⁾
(Dollars in thousands)	Total Property			Accumulated Depreciation			Total Property			Accumulated Depreciation			Total Property			Accumulated Depreciation
Beginning Balance	$	3,084,166		$	642,320		$	2,830,931		$	586,920		$	2,831,732		$	536,682
Additions during the period:
Real Estate acquired	166,290			2,272			314,159			1,046			104,810			1,079
Other improvements	55,340			105,257			58,849			97,255			55,299			94,250
Acquisition through Foreclosure	40,247			1,536			—			—			—			—
Land held for development	—			26			—			26			—			26
Construction in Progress	—			—			—			—			5,608			—
Retirement/dispositions:
Real Estate	(74,507		)	(46,276		)	(111,656		)	(42,927		)	(128,325		)	(45,117		)
Disposal of previously consolidated VIE	—			—			—			—			(38,193		)	—
Land held for development	—			—			(8,117		)	—			—			—
Ending Balance	$	3,271,536		$	705,135		$	3,084,166		$	642,320		$	2,830,931		$	586,920