Real Property Acquisitions and Development (Tables)

3 Months Ended

Jun. 30, 2013

Real property acquisitions and development [Line Items]

Pro forma consolidated results of operations

		Six Months Ended
		June 30,		June 30,
		2013		2012
Revenues		$	1,328,847	$	1,083,555
Income (loss) from continuing operations attributable to common stockholders		$	(7,081)	$	36,559
Income (loss) from continuing operations attributable to common stockholders per share:
	Basic	$	(0.03)	$	0.18
	Diluted	$	(0.03)	$	0.18

Estimated fair value of allocated updated purchase price calculation of asset and liabilities

		Six Months Ended
(In thousands)		June 30, 2013(1)			June 30, 2012
Land and land improvements			$	8,533		$	29,320
Buildings and improvements				47,993			394,508
	Total assets acquired			56,526			423,828
Secured debt				-			(56,337)
Accrued expenses and other liabilities				-			(1,568)
	Total liabilities assumed			-			(57,905)
Capital in excess of par				-			1,024
Noncontrolling interests				-			(15,820)
Non-cash acquisition related activity				-			(310)
	Cash disbursed for acquisitions			56,526			350,817
Construction in progress additions				58,799			81,419
Less:	Capitalized interest			(2,208)			(2,629)
Cash disbursed for construction in progress				56,591			78,790
Capital improvements to existing properties				18,302			36,421
	Total cash invested in real property, net of cash acquired		$	131,419		$	466,028
(1) Includes acquisitions with an aggregate purchase price of $56,526,000 for which the allocation of the purchase price consideration is preliminary and subject to change.

		Six Months Ended
(In thousands)		June 30, 2013(1)			June 30, 2012
Land and land improvements			$	337,066		$	27,647
Building and improvements				3,069,192			241,287
Acquired lease intangibles				263,740			24,052
Restricted cash				22,863			-
Receivables and other assets				76,286			1,182
	Total assets acquired(2)			3,769,147			294,168
Secured debt				(556,413)			(8,684)
Accrued expenses and other liabilities				(51,356)			(1,665)
	Total liabilities assumed			(607,769)			(10,349)
Noncontrolling interests				(229,966)			(2,054)
Non-cash acquisition related activity(3)				(555,562)			-
	Cash disbursed for acquisitions			2,375,850			281,765
Construction in progress additions				472			-
Less:	Capitalized interest			(6)			-
Cash disbursed for construction in progress				466			-
Capital improvements to existing properties				21,474			8,553
	Total cash invested in real property, net of cash acquired		$	2,397,790		$	290,318
(1) Includes acquisitions with an aggregate purchase price of $3,769,147,000 for which the allocation of the purchase price consideration is preliminary and subject to change.
(2) Excludes $60,590,000 and $1,619,000 of cash acquired during the six months ended June 30, 2013 and 2012, respectively.
(3) Represents Sunrise loan and noncontrolling interests acquisitions.

		Six Months Ended
(In thousands)		June 30, 2013			June 30, 2012
Land and land improvements			$	-	$	30,160
Buildings and improvements				-		489,659
Acquired lease intangibles				-		58,998
Restricted cash				-		975
Receivables and other assets				-		4,250
	Total assets acquired			-		584,042
Secured debt				-		(238,589)
Accrued expenses and other liabilities				-		(12,775)
	Total liabilities assumed			0		(251,364)
Non-cash acquisition activity				-		(880)
	Cash disbursed for acquisitions			0		331,798
Construction in progress additions				60,925		64,937
Less:	Capitalized interest			(778)		(1,929)
	Accruals(1)			2,129		(10,911)
Cash disbursed for construction in progress				62,276		52,097
Capital improvements to existing properties				8,704		18,025
	Total cash invested in real property		$	70,980	$	401,920
(1) Represents non-cash accruals for amounts to be paid in future periods relating to properties that converted in the periods noted above.

Summary of construction projects placed into service and generating revenues

			Six Months Ended
			June 30, 2013			June 30, 2012
	Development projects:
		Seniors housing triple-net		$	67,317		$	59,167
		Medical facilities			70,227			105,666
		Total development projects			137,544			164,833
	Expansion projects				8,155			240
Total construction in progress conversions				$	145,699		$	165,073