Real Estate Investments (Tables)

9 Months Ended

Sep. 30, 2017

Business Combinations [Abstract]

Schedule of Acquisitions

The following table details the Company's acquisitions for the nine months ended September 30, 2017 (dollars in millions):

Location	Type (1)	Date Acquired	Purchase Price		Mortgage Note Payable Assumed (2)			Cash Consideration (3)		Real Estate		Other (4)			Square Footage
St. Paul, Minnesota	MOB	3/6/17	$	13.5	$	—		$	13.5	$	13.3	$	0.2		34,608
San Francisco, California	MOB	6/12/17	26.8		—			26.8		26.8		—			75,649
Washington, D.C.	MOB	6/13/17	24.0		(12.1		)	12.5		24.8		(0.2		)	62,379
Los Angeles, California	MOB	7/31/17	16.3		—			16.7		16.9		(0.2		)	42,780
Total acquisitions			$	80.6	$	(12.1	)	$	69.5	$	81.8	$	(0.2	)	215,416

______

(1) MOB = medical office building

(2) The mortgage note payable assumed in the acquisition does not reflect the fair value adjustments totaling $0.4 million recorded by the Company upon acquisition (included in Other).

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

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

Schedule of Dispositions

The following table details the Company's dispositions for the nine months ended September 30, 2017 (dollars in millions):

Location	Type (1)	Date Disposed	Sales Price		Closing Adjustments			Net Proceeds		Net Real Estate Investment		Other (including receivables)(3)		Gain/(Impairment)			Square Footage
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
Chicago, Illinois (2) (4)	MOB	6/16/17	0.5		(0.1		)	0.4		0.4		—		—			5,100
San Antonio, Texas (2)	IRF	6/29/17	14.5		(0.2		)	14.3		5.1		0.9		8.3			39,786
Roseburg, Oregon	MOB	6/29/17	23.2		(0.6		)	22.6		14.5		0.3		7.8			62,246
St. Louis, Missouri	MOB	9/7/17	2.5		(0.1		)	2.4		7.4		0.1		(5.1		)	79,980
Total dispositions			$	122.7	$	(3.3	)	$	119.4	$	78.2	$	6.8	$	34.4		416,481

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(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.

Discontinued Operations and Assets Held for Sale

The table below reflects the assets and liabilities of the properties classified as held for sale and discontinued operations as of September 30, 2017 and December 31, 2016:

(Dollars in thousands)	September 30, 2017			December 31, 2016
Balance Sheet data:
Land	$	1,125		$	1,362
Buildings, improvements and lease intangibles	18,231			4,410
	19,356			5,772
Accumulated depreciation	(10,657		)	(2,977		)
Real estate assets held for sale, net	8,699			2,795
Other assets, net (including receivables)	73			297
Assets held for sale and discontinued operations, net	$	8,772		$	3,092
Accounts payable and accrued liabilities	$	49		$	22
Other liabilities	10			592
Liabilities of properties held for sale and discontinued operations	$	59		$	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 and nine months ended September 30, 2017 and 2016.

	Three Months Ended September 30,						Nine Months Ended September 30,
(Dollars in thousands)	2017			2016			2017			2016
Statements of Income data:
Revenues
Rental income	$	—		$	—		$	—		$	—
	—			—			—			—
Expenses
Property operating	2			23			19			50
Bad debts, net of recoveries	(10		)	—			(10		)	—
	(8		)	23			9			50
Other Income (Expense)
Interest and other income, net	—			—			—			—
	—			—			—			—
Discontinued Operations
Income (Loss) from discontinued operations	8			(23		)	(9		)	(50		)
Gain on sales of real estate assets	—			—			5			7
Income (Loss) from Discontinued Operations	$	8		$	(23	)	$	(4	)	$	(43	)