Real Estate Properties (Tables)

9 Months Ended

Sep. 30, 2013

Real Estate Properties

Schedule of summarized income statement information for the seven MOBs that meet the criteria for discontinued operations included in discontinued operations

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Rental income	$	2,189		$	2,525		$	7,284		$	7,581
Property operating expenses	(958		)	(1,002		)	(2,723		)	(2,766		)
Depreciation and amortization	—			(604		)	(799		)	(1,814		)
Income from discontinued operations	$	1,231		$	919		$	3,762		$	3,001

Triple Net Senior Living Communities

Real Estate Properties

Schedule of real estate property acquisition

Triple Net Senior Living Communities Acquisitions since January 1, 2013:

		Number														Premium
		of	Units/	Purchase				Buildings and				Intangible		Assumed		on Assumed
Date	Location	Properties	Beds	Price (1)		Land		Improvements		FF&E		Assets		Debt		Debt
January 2013 (2)	Redmond, WA	1	150	$	22,350	$	5,120	$	16,562	$	669	$	1,039	$	12,266	$	1,040

(1)    Purchase price includes the assumption of mortgage debt and excludes closing costs.  The allocation of the purchase price of our acquisition shown above is based upon preliminary estimates of the fair value of assets acquired and liabilities assumed.  Consequently, amounts preliminarily allocated to assets acquired and liabilities assumed may change from those used in these condensed consolidated financial statements.

(2)    We leased this property to a subsidiary of Stellar Senior Living, LLC for an initial term expiring in 2028 for initial rent of approximately $1,732 per year.  Percentage rent, based on increases in gross revenues at this property, will commence in 2016.

Managed Senior Living Communities

Real Estate Properties

Schedule of real estate property acquisition

Senior Living Managed Communities Acquisitions since January 1, 2013:

		Number
		of	Units/	Purchase				Buildings and				Intangible
Date	Location	Properties	Beds	Price (1)		Land		Improvements		FF&E		Assets
August 2013	Cumming, GA	1	93	$	22,030	$	1,548	$	18,666	$	803	$	1,013

(1)    Purchase price excludes closing costs.  The allocation of the purchase price of certain of our acquisitions shown above is based upon preliminary estimates of the fair value of assets acquired and liabilities assumed.  Consequently, amounts preliminarily allocated to assets acquired and liabilities assumed may change from those used in these condensed consolidated financial statements.

MOB

Real Estate Properties

Schedule of real estate property acquisition

MOB Acquisitions since January 1, 2013:

												Acquired
		Number								Acquired		Real Estate
		of	Square	Purchase				Buildings and		Real Estate		Lease
Date	Location	Properties	Feet (000’s)	Price (1)		Land		Improvements		Leases		Obligations
February 2013	Bothell, WA	2	145	$	38,000	$	5,639	$	25,239	$	8,442	$	1,539
March 2013	Hattiesburg, MS	1	72	14,600		1,269		11,691		2,323		683
August 2013 (2)	Boston, MA	1	105	49,500		4,600		44,900		—		—
		4	322	$	102,100	$	11,508	$	81,830	$	10,765	$	2,222

(1)    Purchase price excludes closing costs.  The allocation of the purchase price of our acquisitions shown above is based upon preliminary estimates of the fair value of assets acquired and liabilities assumed.  Consequently, amounts preliminarily allocated to assets acquired and liabilities assumed may change from those used in these condensed consolidated financial statements.

(2)    This acquisition is accounted for as an asset purchase.