Commitments and Contingencies |
12 Months Ended |
---|---|
Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Tenant Improvements The Company may provide tenant improvement allowances in new or renewal leases for the purpose of refurbishing or renovating tenant space. The Company may also assume tenant improvement obligations included in leases acquired in its real estate acquisitions. As of December 31, 2017 and 2016, the Company had $0.3 million in tenant improvement allowances included in Other liabilities relating to two tenants whose leases expire in 2018 and 2020. Also, at December 31, 2017, the Company had commitments for tenant improvements of approximately $3.4 million. Capital Improvements The Company has entered into contracts with various vendors for various capital improvement projects related to its portfolio. Some of these expenditures will be subsequently billed and reimbursed by tenants as provided for in their leases with the Company. As of December 31, 2017, the Company had commitments of approximately $0.1 million that are expected to be spent on these capital improvement projects. Legal Proceedings The Company is not aware of any pending or threatened litigation that, if resolved against the Company, would have a material adverse effect on the Company's Consolidated Financial Statements. Contingent Purchase Price Settlement During 2017, the Company paid approximately $0.4 million in settlement of a contingent purchase price liability relating to the acquisition of a medical office building acquired during 2016. The Company has no contingent purchase price liabilities remaining at December 31, 2017. |