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Real Estate Property Investments (Tables)
 6 Months Ended
Jun. 30, 2015
Real Estate Property Investments  
Schedule of unaudited pro forma consolidated results of operations (in thousands, except per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

    

2015

 

2014

 

2015

 

2014

    

Revenues

 

$
651,095

 

$
584,339

 

$
1,305,449

 

$
1,162,549

 

Net income (loss)

 

 
171,653

 

 
226,327

 

 
(61,945)

 

 
493,999

 

Net income (loss) applicable to HCP, Inc.

 

 
168,400

 

 
222,528

 

 
(68,700)

 

 
485,283

 

Basic earnings per common share

 

 
0.36

 

 
0.48

 

 
(0.15)

 

 
1.06

 

Diluted earnings per common share

 

 
0.36

 

 
0.48

 

 
(0.15)

 

 
1.06

 

 

Schedule of other real estate acquisitions (in thousands)

In addition to the RIDEA III acquisition discussed above, a summary of other real estate acquisitions for the six months ended June 30, 2015 follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consideration

 

Assets Acquired(1)

 

 

 

Cash Paid/

 

Liabilities

 

Noncontrolling

 

 

 

 

Net

 

Segment

 

Debt Settled

 

Assumed

 

Interest

 

Real Estate

 

Intangibles

 

Senior housing

 

$
178,888

(2)  

$
821

 

$
3,885

 

$
166,732

 

$
16,862

 

Post-acute/skilled nursing

 

 
178,707

(2)  

 

 —

 

 

 —

 

 
151,663

 

 
27,044

 

Medical office

 

 
377,351

 

 
12,851

 

 

 —

 

 
349,650

 

 
40,552

 

 

 

$
734,946

 

$
13,672

 

$
3,885

 

$
668,045

 

$
84,458

 

(1)Amounts include preliminary purchase price allocations which may be subject to change.

(2)Includes £174 million ($254 million) of the Company’s HC-One Facility (see Note 7) converted to fee ownership in a portfolio of 36 care homes located throughout the United Kingdom (“U.K.”).

 

A summary of real estate acquisitions for the six months ended June 30, 2014 follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consideration

 

Assets Acquired

 

 

 

 

 

 

Liabilities

 

Noncontrolling

 

 

 

 

Net

 

Segment

 

Cash Paid

 

Assumed

 

Interest

 

Real Estate

 

Intangibles

 

Senior housing

 

$
215,381

(1)  

$
1

 

$
6,321

(2)  

$
204,758

 

$
16,945

 

Life science

 

 
43,500

 

 
250

 

 

 —

 

 
41,281

 

 
2,469

 

Medical office

 

 
26,548

 

 
272

 

 

 —

 

 
22,820

 

 
4,000

 

 

 

$
285,429

 

$
523

 

$
6,321

 

$
268,859

 

$
23,414

 

(1)Includes £76 million translated into U.S. dollars.

(2)Includes $5 million of non-managing member limited liability company units.

 

Schedule of capital improvements (in thousands)

 

 

 

 

 

 

 

 

 

Six Months Ended June 30,

Segment

 

2015

 

2014

Senior housing

 

$
36,826

 

$
13,717

Post-acute/skilled nursing

 

 
2,492

 

 
2,533

Life science

 

 
50,548

 

 
57,476

Medical office

 

 
49,534

 

 
26,231

Hospital

 

 
37

 

 
1,188

 

 

$
139,437

 

$
101,145