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Real Estate Investments
 6 Months Ended
Jun. 30, 2019
Business Combinations [Abstract]  
Real Estate Investments Real Estate Investments
2019 Acquisitions
The following table details the Company's acquisitions for the six months ended June 30, 2019:
(Dollars in millions)
Type (1)
 
Date
Acquired
 
Purchase Price

 
Cash
Consideration(2)

 
Real
Estate

 
Other (3)

 
Square
Footage
(Unaudited)

Washington, D.C. (4)
MOB
 
3/28/19
 
$
46.0

 
$
45.9

 
$
50.2

 
$
(4.3
)
 
158,338

Indianapolis, IN (5)
MOB
 
3/28/19
 
47.0

 
44.8

 
43.7

 
1.1

 
143,499

Atlanta, GA
MOB
 
4/2/19
 
28.0

 
28.0

 
28.0

 
—

 
47,963

Dallas, TX
MOB
 
6/10/19
 
17.0

 
16.7

 
17.0

 
(0.3
)
 
89,990

Seattle, WA
MOB
 
6/11/19
 
7.7

 
7.8

 
7.8

 
—

 
29,870

Seattle, WA
MOB
 
6/14/19
 
19.0

 
19.1

 
19.5

 
(0.4
)
 
47,255

Seattle, WA
MOB
 
6/28/19
 
30.5

 
30.4

 
30.6

 
(0.2
)
 
78,288

 
 
 
 
 
$
195.2

 
$
192.7

 
$
196.8

 
$
(4.1
)
 
595,203

______
(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 other assets acquired, liabilities assumed, and intangibles recognized at acquisition.
(4)
Includes two properties. The Company assumed two ground leases in connection with this acquisition that are classified as financing leases. The present value of future lease payments totaling $14.3 million was recorded on the Company's Condensed Consolidated Balance Sheets. In addition, the right-of-use assets were partially offset by $5.2 million of above-market lease intangibles included in Other.
(5)
The Company assumed a prepaid ground lease totaling $0.8 million and recorded a below-market lease intangible totaling $0.9 million in connection with this acquisition that is classified as an operating lease that is included in Other.

2019 Real Estate Asset Dispositions
The following table details the Company's dispositions for the six months ended June 30, 2019:
(Dollars in millions)
Type (1)
 
Date
Disposed
 
Sales Price
 
Closing Adjustments
 
Net
Proceeds
 
Net Real
Estate
Investment
 
Other
(including
receivables) (2)
 
Gain/
(Impairment)
 
Square
Footage
(Unaudited)
Tucson, AZ (3)
MOB
 
4/9/19
 
$
13.0

 
$
(0.9
)
 
$
12.1

 
$
6.9

 
$
0.4

 
$
4.8

 
67,345


______
(1)
MOB = medical office building
(2)
Includes straight-line rent receivables, leasing commissions and lease inducements.
(3)
Includes four properties sold to a single purchaser.

Assets Held for Sale
As of June 30, 2019 and December 31, 2018, the Company had three properties and one property, respectively, classified as held for sale. The three properties held for sale as of June 30, 2019 are described in the following:

•
In March 2019, the Company reclassified an inpatient rehabilitation facility to held for sale upon notification that a ground lessor is exercising a purchase option. The purchase price is determined by an appraisal process that is currently underway. The Company expects the purchase price to be greater than the current net investment of approximately $1.3 million. This property is expected to be sold in the third quarter of 2019.

•
In May 2019, the Company accepted an offer from a third party to purchase a former long-term acute care facility located in Pittsburgh, Pennsylvania and recorded an impairment totaling $5.2 million based on the sales price less estimated costs to sell. The Company expects the sale to occur in the third quarter of 2019. This property was reclassified to held for sale in 2017.

•
In June 2019, the Company reclassified a medical office building located in Virginia Beach, Virginia to held for sale. The Company accepted a third party offer to sell the property for $1.3 million and recorded an impairment totaling $0.4 million based on the sales price less estimated costs to sell. The property is expected to sell in the third quarter of 2019.

The table below reflects the assets and liabilities of the properties classified as held for sale as of June 30, 2019 and December 31, 2018:
(Dollars in thousands)
June 30,
2019
 
December 31,
2018
Balance Sheet data:
 
 
 
Land
$
2,089

 
$
1,125

Buildings, improvements and lease intangibles
36,534

 
18,231

 
38,623

 
19,356

Accumulated depreciation
(32,594
)
 
(10,657
)
Real estate assets held for sale, net
6,029

 
8,699

Operating lease right-of-use assets
42

 
—

Other assets, net
544

 
573

Assets held for sale, net
$
6,615

 
$
9,272

 
 
 
 
Accounts payable and accrued liabilities
$
198

 
$
450

Operating lease liabilities
42

 
—

Other liabilities
271

 
137

Liabilities of properties held for sale
$
511

 
$
587