Real Estate Investments

2017 Acquisitions

The following table details the Company's acquisition for the three months ended March 31, 2017:



(Dollars in millions)	Type ⁽¹⁾	Date Acquired	Purchase Price		Cash Consideration ⁽²⁾		Real Estate		Other ⁽³⁾		Square Footage (unaudited)
Real estate acquisition
St. Paul, Minnesota	MOB	3/6/17	$	13.5	$	13.5	$	13.3	$	0.2	34,608

______


(1)	MOB = medical office building


(2)	Cash consideration excludes prorations of revenue and expense due to/from seller at the time of the acquisition.


(3)	Includes assets acquired, liabilities assumed, and intangibles recognized at acquisition.

2017 Dispositions

The following table details the Company's dispositions for the three months ended March 31, 2017:



(Dollars in millions)	Type ⁽¹⁾	Date Disposed	Sales Price		Closing Adjustments			Net Proceeds		Net Real Estate Investment		Other (including receivables)⁽³⁾		Gain		Square Footage (Unaudited)
Real estate dispositions
Evansville, Indiana	OTH	3/6/17	$	6.4	$	—		$	6.4	$	1.1	$	—	$	5.3	29,500
Columbus, Georgia ⁽²⁾	MOB	3/7/17	0.6		—			0.6		0.6		—		—		12,000
Las Vegas, Nevada ⁽²⁾	MOB	3/30/17	5.5		(0.7		)	4.8		2.2		0.3		2.3		18,147
Texas (3 properties)	IRF	3/31/17	69.5		(1.6		)	67.9		46.9		5.2		15.8		169,722
Total dispositions			$	82.0	$	(2.3	)	$	79.7	$	50.8	$	5.5	$	23.4	229,369

______


(1)	OTH = Other; MOB = medical office building; IRF = inpatient rehabilitation facility


(2)	Previously classified as held for sale.


(3)	Includes straight-line rent receivables, leasing commissions and lease inducements.

Assets Held for Sale

At March 31, 2017 and December 31, 2016, the Company had three and two properties, respectively, classified as held for sale. During the first quarter of 2017, the Company reclassified three properties to held for sale that are summarized below:


•	a 78,731 square foot inpatient rehabilitation facility located in Pittsburgh, Pennsylvania reclassified to held for sale in connection with the management's decision to sell the property;


•	a 39,786 square foot inpatient rehabilitation facility located in San Antonio, Texas reclassified to held for sale in connection with the management's decision to sell the property and the Company expects to recognize a $8.5 million gain on the disposition; and


•	a 5,100 square foot medical office building located in Chicago, Illinois reclassified to held for sale in connection with the management's decision to sell the property. The Company used level one inputs to record an impairment charge of $0.3 million, reducing the carrying value to the estimated fair value of the property less costs to sell.

The table below reflects the assets and liabilities of the properties classified as held for sale and discontinued operations as of March 31, 2017 and December 31, 2016:



(Dollars in thousands)	March 31, 2017			December 31, 2016
Balance Sheet data:
Land	$	1,915		$	1,362
Buildings, improvements and lease intangibles	28,991			4,410
	30,906			5,772
Accumulated depreciation	(16,721		)	(2,977		)
Real estate assets held for sale, net	14,185			2,795
Other assets, net (including receivables)	926			297
Assets held for sale and discontinued operations, net	$	15,111		$	3,092

Accounts payable and accrued liabilities	$	93		$	22
Other liabilities	—			592
Liabilities of properties held for sale and discontinued operations	$	93		$	614

Discontinued Operations

The following table represents the results of operations of the properties included in discontinued operations on the Company's Condensed Consolidated Statements of Income for the three months ended March 31, 2017 and 2016.



	Three Months Ended March 31,
(Dollars in thousands)	2017			2016
Statements of Income data:
Revenues
Rental income	$	—		$	—
	—			—
Expenses
Property operating	18			7
	18			7
Other Income (Expense)
Interest and other income, net	—			—
	—			—
Discontinued Operations
Loss from discontinued operations	(18		)	(7		)
Gain on sales of real estate assets	5			—
Loss from Discontinued Operations	$	(13	)	$	(7	)