Subsequent Events

9 Months Ended

Sep. 30, 2015

Subsequent Events

Subsequent Events

11.Subsequent Events

Subsequent to September 30, 2015 the following events occurred.

Real Estate Investments: We purchased a parcel of land in Illinois for $2,800,000 and entered into a development commitment to construct a 66-unit memory care facility. The commitment totals $14,769,000, including the land purchase. Also, we purchased a behavioral health care hospital in Nevada for $9,250,000 and we originated a $20,000,000,  30-year term mortgage loan, funding $9,500,000 at closing, with a commitment to fund $10,500,000.

Debt Obligations: We locked rate under our AIG shelf agreement on $100,000,000 senior unsecured notes with a coupon of 4.26% and anticipate selling notes to AIG on or around November 20, 2015. Additionally, we exercised the $200,000,000 accordion feature of our $400,000,000 unsecured revolving line of credit increasing commitments under our credit facility to $600,000,000 and we borrowed $22,000,000 under our unsecured revolving line of credit. Accordingly, we have $187,500,000 outstanding under our unsecured revolving line of credit with $412,500,000 remaining for borrowing. See Note 5. Debt Obligations for further discussion.

Equity: We increased our common stock monthly cash dividend approximately 5.9% from $0.17 per share to $0.18 per share and declared monthly cash dividends on our common stock for the months of October, November and December, payable on October 30, November 30, and December 31, 2015, respectively, to stockholders of record on October 22, November 20, and December 23, 2015, respectively.