Real Estate Properties (Tables)

12 Months Ended

Dec. 31, 2014

Real Estate Properties

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

	For the year ended December 31,
	2014		2013		2012
Rental income	$	3,949	$	9,451	$	10,042
Property operating expenses		(2,587)		(3,609)		(3,567)
Depreciation and amortization		—		(799)		(2,414)
Income from discontinued operations	$	1,362	$	5,043	$	4,061

MOBs

Real Estate Properties

Schedule of real estate property acquisition

				Cash Paid								Acquired
		Number		plus				Buildings		Acquired		Real Estate				Premium
		of	Square	Assumed				and		Real Estate		Lease		Assumed		on Assumed
Date	Location	Properties	Feet (000's)	Debt(1)		Land		Improvements		Leases		Obligations		Debt		Debt
MOB Acquisitions during the year ended December 31, 2014:
April 2014	TX	1	125	$	32,932	$	3,141	$	23,142	$	7,672	$	10	$	15,630	$	1,013
May 2014	MA	1	1,651		1,124,031		52,643		786,524		403,349		118,485		—		—
		2	1,776	$	1,156,963	$	55,784	$	809,666	$	411,021	$	118,495	$	15,630	$	1,013
MOB Acquisitions during the year ended December 31, 2013:
February 2013	WA	1	145	$	38,000	$	5,639	$	27,213	$	6,736	$	1,588	$	—	$	—
March 2013	MS	1	72		14,600		1,269		12,516		1,498		683		—		—
August 2013(2)	MA	1	105		49,500		4,559		44,941		—		—		—		—
December 2013	FL	3	63		15,375		2,432		11,165		1,778		—		—		—
		6	385	$	117,475	$	13,899	$	95,835	$	10,012	$	2,271	$	—	$	—

(1) Cash paid plus assumed debt, if any, excludes closing costs. The allocation of the purchase price of certain of our 2014 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 could change significantly from those used in these consolidated financial statements.

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

Triple Net Leased Net Senior Living Communities

Real Estate Properties

Schedule of real estate property acquisition

				Cash Paid
		Number		plus				Buildings								Premium
		of	Units/	Assumed				and				Intangible		Assumed		on Assumed
Date	Location	Properties	Beds	Debt(1)		Land		Improvements		FF&E		Assets		Debt		Debt
Triple Net Senior Living Communities Acquisitions during the year ended December 31, 2014:
There were no triple net senior living communities acquisitions during the year ended December 31, 2014
Triple Net Senior Living Communities Acquisitions during the year ended December 31, 2013:
January 2013(2)	WA	1	150	$	22,350	$	5,120	$	16,562	$	669	$	1,039	$	12,266	$	1,040
		1	150	$	22,350	$	5,120	$	16,562	$	669	$	1,039	$	12,266	$	1,040

(1) Cash paid plus assumed debt, if any, excludes closing costs.

(2) We leased this property to a subsidiary of Stellar Senior Living, LLC, or Stellar, 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

				Cash Paid
		Number		plus				Buildings								Premium
		of	Units/	Assumed				and				Intangible		Assumed		on Assumed
Date	Location	Properties	Beds	Debt(1)		Land		Improvements		FF&E		Assets		Debt		Debt
Managed Senior Living Communities Acquisitions during the year ended December 31, 2014:
December 2014	WI	1	52	$	7,000	$	188	$	5,862	$	101	$	849	$	—	$	—
December 2014	WI	1	176		40,430		2,615		34,957		588		2,270		—		—
		2	228	$	47,430	$	2,803	$	40,819	$	689	$	3,119	$	—	$	—
Managed Senior Living Communities Acquisitions during the year ended December 31, 2013:
August 2013	GA	1	93	$	22,030	$	1,548	$	18,666	$	803	$	1,013	$	—	$	—
October 2013	Various	3	213		29,004		2,242		23,861		612		2,289		—		—
November 2013	WI	1	68		11,965		1,365		9,628		199		773		—		—
		5	374	$	62,999	$	5,155	$	52,155	$	1,614	$	4,075	$	—	$	—

(1) Cash paid plus assumed debt, if any, excludes closing costs. The allocation of the purchase price of our 2014 acquisitions shown above is based upon preliminary estimates of the fair value of assets acquired and liabilities assumed. The final amounts allocated to assets acquired and liabilities assumed could change significantly from those used in these consolidated financial statements.