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Real Estate Investments (Tables)
 9 Months Ended
Sep. 30, 2019
Business Combinations [Abstract]  
Summary of acquisitions
The following table details the Company's acquisitions for the nine months ended September 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

Houston, TX
MOB
 
8/1/19
 
13.5

 
13.5

 
13.5

 
—

 
29,903

Oklahoma City, OK
MOB
 
9/26/19
 
4.1

 
4.1

 
4.1

 
—

 
28,542

Los Angeles, CA (6)
MOB
 
9/30/19
 
61.1

 
60.9

 
61.8

 
(0.9
)
 
115,634

 
 
 
 
 
$
273.9

 
$
271.2

 
$
276.2

 
$
(5.0
)
 
769,282

______
(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 under the caption Finance lease liabilities. 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.
(6)
Includes two properties.
Summary of dispositions
The following table details the Company's dispositions for the nine months ended September 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

Virginia Beach, VA (4)
MOB
 
8/1/19
 
1.3

 
(0.1
)
 
1.2

 
1.2

 
—

 
—

 
10,000

San Antonio, TX
MOB
 
8/28/19
 
0.9

 
(0.1
)
 
0.8

 
0.6

 
—

 
0.2

 
10,138

Total dispositions
 
$
15.2

 
$
(1.1
)
 
$
14.1

 
$
8.7

 
$
0.4

 
$
5.0

 
87,483

______
(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.
(4)
The Company reclassified this property to held for sale during the second quarter of 2019 and recorded an impairment charge of $0.4 million based on the sales price less estimated costs to sell.
Assets held for sale
The table below reflects the assets and liabilities of the properties classified as held for sale as of September 30, 2019 and December 31, 2018:
(Dollars in thousands)
September 30,
2019
 
December 31,
2018
Balance Sheet data:
 
 
 
Land
$
1,125

 
$
1,125

Buildings, improvements and lease intangibles
34,426

 
18,231

 
35,551

 
19,356

Accumulated depreciation
(30,706
)
 
(10,657
)
Real estate assets held for sale, net
4,845

 
8,699

Other assets, net
444

 
573

Assets held for sale, net
$
5,289

 
$
9,272

 
 
 
 
Accounts payable and accrued liabilities
$
93

 
$
450

Other liabilities
207

 
137

Liabilities of properties held for sale
$
300

 
$
587