Carter Validus Mission Critical REIT 10-Q 16 Nov 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares shares in Thousands	9 Months Ended
	Sep. 30, 2015	Nov. 16, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Entity Registrant Name	Carter Validus Mission Critical REIT, Inc.
Entity Central Index Key	1,482,974
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		180,703

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Real estate:
Land ($4,280 and $4,280, respectively, related to VIE)	$ 173,467	$ 153,998
Buildings and improvements, less accumulated depreciation of $87,990 and $52,785, respectively ($86,106 and $87,850, respectively, related to VIE)	1,664,472	1,584,801
Construction in process	97,986	53,552
Acquired intangible assets, less accumulated amortization of $34,997 and $21,759, respectively ($10,078 and $11,314, respectively, related to VIE)	204,179	204,436
Total real estate, net ($100,464 and $103,444, respectively, related to VIE)	2,140,104	1,996,787
Cash and cash equivalents ($2,475 and $1,397, respectively, related to VIE)	41,380	113,093
Preferred equity investment	127,147	0
Real estate-related notes receivables	514	23,535
Other assets ($6,669 and $5,126, respectively, related to VIE)	90,500	57,427
Total assets	2,399,645	2,190,842
Liabilities:
Notes payable ($52,467 and $53,031, respectively, related to VIE)	546,597	490,909
Credit facility	283,000	75,000
Accounts payable due to affiliates ($71 and $17, respectively, related to VIE)	2,192	1,833
Accounts payable and other liabilities ($1,796 and $1,473, respectively, related to VIE)	55,498	31,829
Intangible lease liabilities, less accumulated amortization of $14,846 and $10,774, respectively ($12,972 and $14,445, respectively, related to VIE)	57,476	60,678
Total liabilities	$ 944,763	$ 660,249
Stockholders’ equity:
Preferred stock, $0.01 par value per share, 50,000,000 shares authorized; none issued and outstanding
Common stock, $0.01 par value per share, 300,000,000 shares authorized; 180,911,195 and 175,561,681 shares issued, respectively; 179,810,937 and 175,038,055 shares outstanding, respectively	$ 1,798	$ 1,750
Additional paid-in capital	1,576,948	1,557,623
Accumulated distributions in excess of earnings	(150,989)	(100,273)
Accumulated other comprehensive loss	(6,494)	(1,161)
Total stockholders’ equity	1,421,263	1,457,939
Noncontrolling interests	33,619	72,654
Total equity	1,454,882	1,530,593
Total liabilities and stockholders’ equity	$ 2,399,645	$ 2,190,842

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Land	$ 173,467	$ 153,998
Buildings and improvements, accumulated depreciation	87,990	52,785
Buildings and improvements, net	1,664,472	1,584,801
Acquired intangible assets, accumulated amortization	34,997	21,759
Acquired intangible assets, net	204,179	204,436
Total real estate, net	2,140,104	1,996,787
Cash and cash equivalents	41,380	113,093
Other assets	90,500	57,427
Notes payable	546,597	490,909
Accounts payable due to affiliates	2,192	1,833
Accounts payable and other liabilities	55,498	31,829
Intangible lease liabilities, accumulated amortization	14,846	10,774
Intangible lease liabilities, net	$ 57,476	$ 60,678
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	180,911,195	175,561,681
Common stock, shares outstanding	179,810,937	175,038,055
Variable Interest Entity, Primary Beneficiary [Member]
Land	$ 4,280	$ 4,280
Buildings and improvements, net	86,106	87,850
Acquired intangible assets, net	10,078	11,314
Total real estate, net	100,464	103,444
Cash and cash equivalents	2,475	1,397
Other assets	6,669	5,126
Notes payable	52,467	53,031
Accounts payable due to affiliates	71	17
Accounts payable and other liabilities	1,796	1,473
Intangible lease liabilities, net	$ 12,972	$ 14,445

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenue:
Rental and parking revenue	$ 44,528	$ 38,486	$ 138,542	$ 91,287
Tenant reimbursement revenue	4,168	4,164	14,253	10,259
Real estate-related notes receivables interest income	18	(257)	373	2,174
Total revenue	48,714	42,393	153,168	103,720
Expenses:
Rental and parking expenses	6,409	6,108	21,092	14,429
General and administrative expenses	1,609	1,411	4,469	3,212
Change in fair value of contingent consideration	160	0	460	0
Acquisition related expenses	0	4,087	3,654	10,598
Asset management fees	4,708	4,078	13,274	9,538
Depreciation and amortization	16,369	13,002	48,597	31,275
Total expenses	29,255	28,686	91,546	69,052
Income from operations	19,459	13,707	61,622	34,668
Other income (expense):
Other income	2,709	277	5,828	477
Interest expense	(7,733)	(5,478)	(21,043)	(13,905)
Total other expense	(5,024)	(5,201)	(15,215)	(13,428)
Net income	14,435	8,506	46,407	21,240
Net income attributable to noncontrolling interests in consolidated partnerships	(863)	(1,152)	(4,057)	(2,437)
Net income attributable to common stockholders	13,572	7,354	42,350	18,803
Other comprehensive income (loss):
Unrealized (loss) income on interest rate swaps, net	(4,031)	782	(4,959)	(726)
Other comprehensive (loss) income	(4,031)	782	(4,959)	(726)
Other comprehensive loss attributable to noncontrolling interests in consolidated partnerships	14	0	106	0
Other comprehensive (loss) income attributable to common stockholders	(4,017)	782	(4,853)	(726)
Comprehensive income	10,404	9,288	41,448	20,514
Comprehensive income attributable to noncontrolling interests in consolidated partnerships	(849)	(1,152)	(3,951)	(2,437)
Comprehensive income attributable to common stockholders	$ 9,555	$ 8,136	$ 37,497	$ 18,077
Weighted average number of common shares outstanding:
Basic (in shares)	179,270,022	172,914,286	177,717,870	133,908,958
Diluted (in shares)	179,286,709	172,931,516	177,736,797	133,928,250
Net income per common share attributable to common stockholders:
Basic (in dollars per share)	$ 0.08	$ 0.04	$ 0.24	$ 0.14
Diluted (in dollars per share)	0.08	0.04	0.24	0.14
Distributions declared per common share (in dollars per share)	$ 0.18	$ 0.18	$ 0.52	$ 0.52

Condensed Consolidated Stateme5

Condensed Consolidated Statement Of Stockholders' Equity - 9 months ended Sep. 30, 2015 - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid in Capital [Member]	Accumulated Distributions in Excess of Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Total Stockholders' Equity [Member]	Noncontrolling Interests [Member]
Balance, (in shares) at Dec. 31, 2014	175,038,055	175,038,055
Balance, at Dec. 31, 2014	$ 1,530,593	$ 1,750	$ 1,557,623	$ (100,273)	$ (1,161)	$ 1,457,939	$ 72,654
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted stock (in shares)		10,500
Issuance of common stock under the distribution reinvestment plan (in shares)		5,339,014
Issuance of common stock under the distribution reinvestment plan	50,720	$ 54	50,666			50,720	0
Purchase of noncontrolling interests	(67,224)		(25,811)		(480)	(26,291)	(40,933)
Distributions to noncontrolling interests	(2,053)					0	(2,053)
Distributions declared to common stockholders	(93,066)			(93,066)		(93,066)	0
Other offering costs	(82)		(82)			(82)	0
Redemption of common stock (in shares)		(576,632)
Redemption of common stock	(5,521)	$ (6)	(5,515)			(5,521)	0
Stock-based compensation	67		67			67	0
Other comprehensive loss	(4,959)				(4,853)	(4,853)	(106)
Net income	$ 46,407			42,350		42,350	4,057
Balance, (in shares) at Sep. 30, 2015	179,810,937	179,810,937
Balance, at Sep. 30, 2015	$ 1,454,882	$ 1,798	$ 1,576,948	$ (150,989)	$ (6,494)	$ 1,421,263	$ 33,619

Condensed Consolidated Stateme6

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income	$ 46,407	$ 21,240
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	48,597	31,275
Amortization of deferred financing costs	2,794	1,893
Amortization of above-market leases	296	145
Amortization of intangible lease liabilities	(4,072)	(3,147)
Amortization of real estate-related notes receivables origination costs and commitment fees	114	1,167
Bad debt expense	6,497	0
Straight-line rent	(15,787)	(11,634)
Stock-based compensation	67	68
Change in fair value of contingent consideration	460	0
Changes in operating assets and liabilities:
Accounts payable and other liabilities	4,698	4,635
Accounts payable due to affiliates	359	8,949
Other assets	(9,136)	(1,244)
Net cash provided by operating activities	81,294	53,347
Cash flows from investing activities:
Investment in real estate	(123,753)	(952,950)
Capital expenditures	(44,178)	(13,074)
Real estate deposits, net	166	(1,560)
Real estate-related notes receivables advances	(267)	(14,644)
Collections of real estate-related notes receivables	9,500	27,500
Preferred equity investment	(127,147)	0
Investment in notes receivables	(11,000)	0
Origination costs net of commitment fees related to real estate-related notes receivables	0	(293)
Net cash used in investing activities	(296,679)	(955,021)
Cash flows from financing activities:
Proceeds from notes payable	64,305	191,466
Payments on notes payable	(8,617)	(4,913)
Proceeds from credit facility	235,000	20,000
Payments on credit facility	(27,000)	(97,000)
Payments of deferred financing costs	(2,415)	(7,047)
Repurchase of common stock	(5,521)	(2,837)
Offering costs on issuance of common stock	(82)	(94,938)
Distributions to stockholders	(42,407)	(30,312)
Proceeds from issuance of common stock	0	966,209
Payments to escrow funds	(2,152)	(12,137)
Collections of escrow funds	1,838	3,471
Purchase of noncontrolling interest in consolidated partnerships	(67,224)	0
Proceeds from noncontrolling interest in consolidated partnerships	0	39,914
Distributions to noncontrolling interests in consolidated partnerships	(2,053)	(2,470)
Net cash provided by financing activities	143,672	969,406
Net change in cash and cash equivalents	(71,713)	67,732
Cash and cash equivalents - Beginning of period	113,093	7,511
Cash and cash equivalents - End of period	41,380	75,243
Supplemental cash flow disclosure:
Interest paid, net of interest capitalized of $3,739 and $1,362, respectively	21,352	12,491
Supplemental disclosure of non-cash transactions:
Common stock issued through distribution reinvestment plan	50,720	33,684
Net unrealized loss on interest rate swap	(4,959)	(726)
Real estate-related notes receivables converted to investment in real estate	13,674	20,000
Accrued contingent consideration	$ 0	$ 5,030

Condensed Consolidated Stateme7

Condensed Consolidated Statements Of Cash Flows (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Statement of Cash Flows [Abstract]
Interest capitalized	$ 3,739	$ 1,362

Organization and Business Opera

Organization and Business Operations	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business Operations	Organization and Business Operations Carter Validus Mission Critical REIT, Inc., or the Company, a Maryland corporation, was incorporated on December 16, 2009 and elected to be taxed and currently qualifies as a real estate investment trust, or a REIT, under the Internal Revenue Code of 1986, as amended, for federal income tax purposes. The Company was organized to acquire and operate a diversified portfolio of income-producing commercial real estate, with a focus on the data center and healthcare property sectors, net leased to investment grade and other creditworthy tenants, as well as to make other real estate-related investments that relate to such property types. The Company operates through two reportable segments—commercial real estate investments in data centers and healthcare. Substantially all of the Company’s business is conducted through Carter/Validus Operating Partnership, LP, a Delaware limited partnership, or the Operating Partnership. The Company is the sole general partner of the Operating Partnership. Carter/Validus Advisors, LLC, or the Advisor, the Company’s affiliated advisor, is the sole limited partner of the Operating Partnership. As of September 30, 2015 , the Company owned 48 real estate investments (including one real estate investment owned through a consolidated partnership), consisting of 79 properties located in 44 metropolitan statistical areas, or MSAs. As of September 30, 2015 , the Company had investments in 7.875% Series B Redeemable Cumulative Preferred Stock with a $0.01 par value per share in a private real estate corporation, or the Preferred Equity Investment, in an aggregate amount of $127,147,000 . The Company ceased offering shares of common stock in its $1,746,875,000 initial public offering, or the Offering, on June 6, 2014. At the completion of the Offering, the Company raised gross proceeds of approximately $1,716,046,000 (including shares of common stock issued pursuant to a distribution reinvestment plan, or the DRIP). The Company will continue to issue shares of common stock under the DRIP Offering (as defined below) until such time as the Company sells all of the shares registered for sale under the DRIP Offering, unless the Company files a new registration statement with the Securities and Exchange Commission, or the SEC, or the DRIP Offering is terminated by the Company’s board of directors. In addition, the Company registered $100,000,000 in shares of common stock under the DRIP pursuant to a registration statement on Form S-3 (Registration No. 333-195258), or the DRIP Offering, and collectively with the Offering, the Offerings, which was filed with the SEC on April 14, 2014 and automatically became effective with the SEC upon filing. As of September 30, 2015 , the Company had issued approximately 180,863,000 shares of common stock in the Offerings for gross proceeds of $1,794,581,000 , before share redemptions of $10,587,000 and offering costs, selling commissions and dealer manager fees of $174,708,000 . Except as the context otherwise requires, “we,” “our,” “us,” and the “Company” refer to Carter Validus Mission Critical REIT, Inc., the Operating Partnership, all majority-owned subsidiaries and controlled subsidiaries.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies The summary of significant accounting policies presented below is designed to assist in understanding the Company’s condensed consolidated financial statements. Such condensed consolidated financial statements and the accompanying notes thereto are the representation of management. The accompanying condensed consolidated unaudited financial statements of the Company have been prepared in accordance with the generally accepted accounting principles in the United States, or GAAP, for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments, consisting of normal and recurring nature considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 . The condensed consolidated balance sheet at December 31, 2014 has been derived from the audited consolidated financial statements at that date but does not include all of the information and notes required by GAAP for complete financial statements. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Company’s audited consolidated financial statements as of and for the year ended December 31, 2014 and related notes thereto set forth in the Company’s Annual Report on Form 10-K, filed with the SEC on March 26, 2015. Principles of Consolidation and Basis of Presentation The accompanying condensed consolidated financial statements include the accounts of the Company, the Operating Partnership, all majority-owned subsidiaries and controlled subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of the financial statements in conformity with GAAP necessarily requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Concentration of Credit Risk and Significant Leases As of September 30, 2015 , the Company had cash on deposit, including restricted cash, in certain financial institutions which had deposits in excess of current federally insured levels; however, the Company has not experienced any losses in such accounts. The Company limits its cash investments to financial institutions with high credit standings; therefore, the Company believes it is not exposed to any significant credit risk on its cash deposits. To date, the Company has experienced no loss or lack of access to cash in its accounts. Concentration of credit risk with respect to accounts receivable from tenants is limited. As of September 30, 2015 , the Company owned real estate investments in 44 MSAs, (including one real estate investment owned through a consolidated partnership), four of which accounted for 10.0% or more of rental revenue. Real estate investments located in the Dallas-Ft. Worth-Arlington, Texas MSA, the Chicago-Naperville-Elgin, Illinois-Indiana-Wisconsin MSA, the Atlanta-Sandy Springs-Roswell, Georgia MSA and the Houston-The Woodlands-Sugar Land, Texas MSA accounted for an aggregate of 13.8% , 12.1% , 10.1% and 10.6% , respectively, of rental revenue for the nine months ended September 30, 2015 . As of September 30, 2015 , the Company had two tenants that accounted for 10.0% or more of rental revenue. The leases with AT&T Services, Inc. and the lease with Bay Area Regional Medical Center, LLC accounted for 13.2% and 10.4% , respectively, of rental revenue for the nine months ended September 30, 2015 . Share Repurchase Program The Company’s share repurchase program allows for repurchases of shares of the Company’s common stock when certain criteria are met. The share repurchase program provides that all redemptions during any calendar year, including those redeemable upon death or a qualifying disability of a stockholder, are limited to those that can be funded with proceeds raised from the DRIP Offering during the prior calendar year and other operating funds, if any, as the board of directors, in its sole discretion, may reserve for this purpose. Repurchases of shares of the Company’s common stock are at the sole discretion of the Company’s board of directors. In addition, the Company’s board of directors, at its sole discretion, may amend, suspend, reduce, terminate or otherwise change the share repurchase program upon 30 days ' prior notice to the Company’s stockholders for any reason it deems appropriate. The share repurchase program provides that the Company will limit the number of shares repurchased during any calendar year to 5.0% of the number of shares of common stock outstanding as of December 31st of the previous calendar year. During the nine months ended September 30, 2015 , the Company received valid redemption requests related to approximately 577,000 shares of common stock, all of which were redeemed in full for an aggregate purchase price of approximately $5,521,000 (an average of $9.57 per share). During the nine months ended September 30, 2014 , the Company received valid redemption requests related to approximately 295,000 shares of common stock, all of which were redeemed in full for an aggregate purchase price of approximately $2,837,000 (an average of $9.62 per share). Earnings Per Share Basic earnings per share attributable for all periods presented are computed by dividing net income attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Shares of non-vested restricted common stock give rise to potentially dilutive shares of common stock. Diluted earnings per share are computed based on the weighted average number of shares outstanding and all potentially dilutive securities. Diluted earnings per share reflect the effect of approximately 17,000 shares for the three months ended September 30, 2015 and 2014 and approximately 19,000 shares for the nine months ended September 30, 2015 and 2014 of non-vested shares of restricted common stock that were outstanding as of such period. Preferred Equity Investment The Company accounts for its Preferred Equity Investment as an asset under the cost method of accounting, as the Company exercises no influence over the investee. The Company recognizes dividends as other income in the condensed consolidated statements of comprehensive income. Recently Issued Accounting Pronouncements On May 28, 2014, the Financial Accounting Standards Board, or the FASB, issued Accounting Standards Update, or ASU, 2014-09, Revenue from Contracts with Customers , or ASU 2014-09. The objective of ASU 2014-09 is to clarify the principles for recognizing revenue and to develop a common revenue standard for GAAP. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 defines a five-step process to achieve this core principle, which may require more judgment and estimates within the revenue recognition process than are required under existing GAAP. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606) Deferral of the Effective Date , or ASU 2015-14. ASU 2015-14 defers the effective date of ASU 2014-09 by one year to fiscal years and interim periods beginning after December 15, 2017. Early adoption is permitted as of the original effective date, which was annual reporting periods beginning after December 15, 2016, and the interim periods within that year. The Company is in the process of evaluating the impact ASU 2014-09 will have on the Company’s condensed consolidated financial statements. On February 18, 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis , or ASU 2015-02, that changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. The amendment affects the following areas: limited partnerships and similar legal entities, evaluating fees paid to a decision maker or a service provider as a variable interest, the effect of fee arrangements on the primary beneficiary determination and certain investment funds. Under the amendment, all reporting entities are within the scope of ASC Subtopic 810-10, Consolidation — Overall , unless a scope exception applies. The presumption that a general partner controls a limited partnership has been eliminated. In addition, fees paid to decision makers that meet certain conditions no longer cause decision makers to consolidate variable interest entities in certain instances. The amendment is effective for public business entities for periods beginning after December 15, 2015. Early adoption of ASU 2015-02 is permitted. The Company is in the process of evaluating the impact ASU 2015-02 will have on the Company’s condensed consolidated financial statements. On April 7, 2015, the FASB issued ASU 2015-03, Interest — Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs , or ASU 2015-03, that intends to simplify the presentation of debt issuance costs. The amendment requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. On August 18, 2015, the FASB issued ASU 2015-15, Interest — Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated With Line-of-Credit Arrangements — Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 Emerging Issues Task Force Meeting (SEC Update), or ASU 2015-15, which clarified that the SEC staff would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. Both ASU 2015-03 and ASU 2015-15 are effective for public business entities for fiscal years beginning after December 15, 2015, and are to be applied retrospectively, with early adoption permitted. The Company is in the process of evaluating the impact ASU 2015-03 and ASU 2015-15 will have on the Company’s condensed consolidated financial statements. On September 25, 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments, or ASU 2015-16, which eliminates the requirement for an acquirer to retrospectively adjust the financial statements for measurement-period adjustments that occur in periods after a business combination is consummated. ASU 2015-16 requires that the acquirer recognize adjustments to the provisional amounts recorded in the reporting period when the adjustments are determined. The effects of adjustments (such as depreciation, amortization, or other income effects) to provisional amounts to periods after the acquisition date are included in the earnings of the current reporting period. The amendment is effective for public business entities for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. Early adoption of ASU 2015-16 is permitted. The Company is in the process of evaluating the impact ASU 2015-16 will have on the Company’s condensed consolidated financial statements. Reclassifications Certain prior period amounts have been reclassified to conform to the current financial statement presentation, with no effect on the Company’s condensed consolidated financial position or results of operations.

Real Estate Investments

Real Estate Investments	9 Months Ended
	Sep. 30, 2015
Real Estate [Abstract]
Real Estate Investments	Real Estate Investments During the nine months ended September 30, 2015 , the Company completed the acquisition of two healthcare real estate investments, which were determined to be business combinations, for an aggregate purchase price of $137,427,000 , plus closing costs, or the 2015 Acquisitions. The aggregate purchase price was settled net of the outstanding balance of real estate-related notes receivables due to the Company in the amount of $13,674,000 , which reduced the total cash paid to $123,753,000 . The Company funded the purchase price of the 2015 Acquisitions using net cash proceeds from the Offerings and its unsecured credit facility. The following table summarizes the 2015 Acquisitions: Property Description Date Ownership Landmark Hospital of Savannah 1/15/2015 100% 21st Century Oncology Portfolio (1) 3/31/2015; 04/20/2015 100% (1) Portfolio consists of 20 real estate properties, 18 of which were purchased on March 31, 2015 and two of which were purchased on April 20, 2015 . Results of operations for the 2015 Acquisitions are reflected in the accompanying condensed consolidated statements of comprehensive income for the nine months ended September 30, 2015 for the period subsequent to the acquisition date of each property. For the period from the acquisition date through September 30, 2015 , the Company recognized $6,333,000 of revenues and a net loss of $463,000 for the 2015 Acquisitions. In addition, during the nine months ended September 30, 2015 , the Company incurred aggregate charges related to acquisition fees and costs of $3,478,000 in connection with the 2015 Acquisitions, which are included in the accompanying condensed consolidated statements of comprehensive income. The total amount of all acquisition fees and expenses are limited to 6.0% of the contract purchase price of the property. The contract purchase price is the amount actually paid or allocated in respect of the purchase, development, construction or improvement of a property, exclusive of acquisition fees and acquisition expenses. For the nine months ended September 30, 2015 and 2014 , acquisition fees and expenses did not exceed 6.0% of the purchase price of the Company’s acquisitions during such periods. As of September 30, 2015 , the Company completed its fair value purchase price allocation for the 2015 Acquisitions. The following table summarizes the Company’s allocation of the fair value purchase price of the 2015 Acquisitions acquired during the nine months ended September 30, 2015 (amounts in thousands): Total Land $ 19,469 Buildings and improvements 101,251 In-place leases 15,819 Tenant improvements 1,123 Above-market leases 635 Total assets acquired 138,297 Below-market leases (870 ) Total liabilities acquired (870 ) Net assets acquired $ 137,427 Assuming the 2015 Acquisitions described above had occurred on January 1, 2014, pro forma revenues, net income and net income attributable to common stockholders would have been as follows (amounts in thousands, unaudited): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Pro forma basis: Revenues $ 48,714 $ 47,489 $ 155,842 $ 130,852 Net income $ 14,435 $ 14,993 $ 51,184 $ 43,912 Net income attributable to common stockholders $ 13,572 $ 13,841 $ 47,127 $ 41,475 Net income per common share attributable to common stockholders: Basic $ 0.08 $ 0.08 $ 0.27 $ 0.26 Diluted $ 0.08 $ 0.08 $ 0.27 $ 0.26 The pro forma information for the three and nine months ended September 30, 2015 was adjusted to exclude $0 and $3,478,000 , respectively, of acquisition expenses recorded during such periods. The pro forma information may not be indicative of what actual results of operations would have been had the transactions occurred at the beginning of 2014 , nor is it necessarily indicative of future operating results. Consolidated Partnership Bay Area Regional Medical Center On July 8, 2015, the Company acquired the remaining noncontrolling interests in the Bay Area Regional Medical Center for a total cost of $102,475,000 . As a result, the Bay Area Regional Medical Center became a wholly-owned property of the Company. In connection with the acquisition of the noncontrolling interests in the Bay Area Regional Medical Center, the borrower paid off the outstanding principal and accrued interest in the amount of $9,805,000 on the revolving credit agreement loan.

Acquired Intangible Assets, Net

Acquired Intangible Assets, Net	9 Months Ended
	Sep. 30, 2015
Finite-Lived Intangible Assets, Net [Abstract]
Acquired Intangible Assets, Net	Acquired Intangible Assets, Net Acquired intangible assets, net, which are included in real estate in the accompanying condensed consolidated balance sheets, consisted of the following as of September 30, 2015 and December 31, 2014 (amounts in thousands, except weighted average life amounts): September 30, 2015 December 31, 2014 In-place leases, net of accumulated amortization of $34,002 and $21,099, respectively (with a weighted average remaining life of 14.4 years and 15.1 years, respectively) $ 198,078 $ 198,635 Above-market leases, net of accumulated amortization of $825 and $529, respectively (with a weighted average remaining life of 11.2 years and 11.4 years, respectively) 3,457 3,118 Ground lease interest, net of accumulated amortization of $170 and $131, respectively (with a weighted average remaining life of 60.6 years and 61.2 years, respectively) 2,644 2,683 $ 204,179 $ 204,436 The aggregate weighted average remaining life of the acquired intangible assets was 15.0 years and 15.6 years as of September 30, 2015 and December 31, 2014 , respectively.

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2015
Other Assets [Abstract]
Other Assets	Other Assets Other assets consisted of the following as of September 30, 2015 and December 31, 2014 (amounts in thousands): September 30, 2015 December 31, 2014 Deferred financing costs, net of accumulated amortization of $7,326 and $4,532, respectively $ 10,793 $ 11,172 Lease commissions, net of accumulated amortization of $144 and $54, respectively 3,704 394 Investments in unconsolidated partnerships 99 106 Tenant receivable 4,248 3,361 Notes receivables 11,000 — Straight-line rent receivable 41,353 25,566 Restricted cash held in escrow 13,696 13,382 Real estate escrow deposits — 250 Restricted cash 661 734 Derivative assets — 273 Prepaid and other assets 4,946 2,189 $ 90,500 $ 57,427

Future Minimum Rent

Future Minimum Rent	9 Months Ended
	Sep. 30, 2015
Leases [Abstract]
Future Minimum Rent	Future Minimum Rent The Company’s real estate assets are leased to tenants under operating leases with varying terms. The leases frequently have provisions to extend the lease agreement. The Company retains substantially all of the risks and benefits of ownership of the real estate assets leased to tenants. The future minimum rental income from the Company’s investment in real estate assets under non-cancelable operating leases including optional renewal periods for which exercise is reasonably assured for the three months ending December 31, 2015 and for each of the next four years ending December 31 and thereafter, are as follows (amounts in thousands): Year Amount Three months ending December 31, 2015 $ 41,745 2016 171,576 2017 175,139 2018 178,500 2019 181,081 Thereafter 1,814,128 $ 2,562,169

Notes Payable and Unsecured Cre

Notes Payable and Unsecured Credit Facility	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Notes Payable and Unsecured Credit Facility	Notes Payable and Unsecured Credit Facility The Company’s debt outstanding as of September 30, 2015 and December 31, 2014 consisted of the following (amounts in thousands): September 30, 2015 December 31, 2014 Notes payable: Fixed rate notes payable $ 132,010 $ 134,271 Variable rate notes payable fixed through interest rate swaps 371,106 206,162 Variable rate notes payable 43,481 150,476 Total notes payable 546,597 490,909 Unsecured credit facility: Revolving line of credit 73,000 — Term loan 210,000 75,000 Total unsecured credit facility 283,000 75,000 Total debt outstanding $ 829,597 $ 565,909 Significant loan and unsecured credit facility activities since December 31, 2014 , excluding scheduled principal payments, include: • The Company exercised its option to draw an additional $37,000,000 under a certain note payable with a variable interest rate at the 30-day London interbank offered rate , or LIBOR, plus 225 basis points with a maturity date of February 26, 2019 , or the AT&T California Data Center Loan. Coincident with the AT&T California Data Center Loan, the Company entered into an interest rate swap agreement to effectively fix the variable interest rate on the AT&T California Data Center Loan at 3.7% per annum. • The Company exercised its option to draw an additional $27,305,000 under a certain note payable with a variable interest rate at the 30-day LIBOR rate plus 225 basis points with a maturity date of December 10, 2018 , or the AT&T Tennessee Data Center Loan. Coincident with the AT&T Tennessee Data Center Loan, the Company entered into an interest rate swap agreement to effectively fix the variable interest rate on the AT&T Tennessee Data Center Loan at 3.5% per annum. • The Company is required by the terms of applicable loan documents to meet certain financial covenants, such as coverage ratios and reporting requirements. In addition, certain loan agreements include a cross-default provision to financial covenants in lease agreements with the Company’s tenants so a default in the financial covenant in the lease agreement is a default for the Company’s loan. As of September 30, 2015 , the Company was in compliance with all such covenants and requirements, with the exception of two tenants. As of September 30, 2015 , two of the Company’s tenants were in non-compliance with certain financial covenants in their respective lease agreements, which violated the covenants in the Company’s respective loan agreements. The lender waived compliance with these covenants for the quarter ended September 30, 2015 . In the event the Company is not in compliance with these covenants in future periods and is unable to obtain a consent or waiver, the lender may choose to pursue remedies under the respective loan agreements, which could include, at the lender's discretion, declaring the loans to be immediately due and payable and payment of termination fees and costs incurred by the lender, among other potential remedies. The Company and its lenders are working to modify certain financial covenants with respect to the Company’s tenants’ coverage ratios. • The Company made a draw of $235,000,000 on its unsecured credit facility and paid down $27,000,000 on its unsecured credit facility. • The Operating Partnership amended certain agreements related to its unsecured credit facility to add six new lenders and to increase the maximum commitments available under the unsecured credit facility from $365,000,000 to an aggregate of up to $475,000,000 , consisting of a $400,000,000 revolving line of credit, with a maturity date of May 28, 2017 , subject to the Operating Partnership's right to a 12 -month extension, and a $75,000,000 term loan, with a maturity date of May 28, 2018 , subject to the Operating Partnership's right to a 12 -month extension. The new and existing lenders agreed to continue to make the loans on an unsecured basis. Subject to certain conditions, the unsecured credit facility can be increased to $500,000,000 . • The Operating Partnership entered into an agreement to obtain an unsecured term loan facility in the aggregate principal amount of $135,000,000 , with a maturity date of August 21, 2020 . Subject to certain conditions, the unsecured term loan facility can be increased to $300,000,000 . The unsecured term loan facility shall bear interest at per annum rates equal to, at the Operating Partnership's option, either (a) LIBOR, plus an applicable margin ranging from 1.75% to 2.25% , which is determined by the overall leverage of the Operating Partnership; or (b) a base rate, which means, for any day, a fluctuating rate per annum equal to the prime rate for such day, plus an applicable margin ranging from 0.75% to 1.25% , which is determined based on the overall leverage of the Operating Partnership. • As of September 30, 2015 , the total unencumbered pool availability under the credit facility was $458,975,000 and the remaining aggregate unencumbered pool availability was $175,975,000 . • As of September 30, 2015 , the Company had 7 variable rate notes payable that were fixed through interest rate swaps. The principal payments and balloon payments due on the notes payable and the unsecured credit facility for the three months ending December 31, 2015 and for each of the next four years ending December 31 and thereafter, are as follows (amounts in thousands): Year Principal Payments Balloon Payments (1) Total Amount Three months ending December 31, 2015 $ 3,278 $ — $ 3,278 2016 13,007 13,441 26,448 2017 12,378 253,052 265,430 2018 10,454 140,134 150,588 2019 3,548 194,143 197,691 Thereafter 2,540 183,622 186,162 $ 45,205 $ 784,392 $ 829,597 (1) Includes the unsecured credit facility.

Intangible Lease Liabilities, N

Intangible Lease Liabilities, Net	9 Months Ended
	Sep. 30, 2015
Intangible Lease Liabilities, Net [Abstract]
Intangible Lease Liabilities, Net	Intangible Lease Liabilities, Net Intangible lease liabilities, net, consisted of the following as of September 30, 2015 and December 31, 2014 (amounts in thousands, except weighted average life amounts): September 30, 2015 December 31, 2014 Below-market leases, net of accumulated amortization of $14,700 and $10,721, respectively (with a weighted average remaining life of 17.1 years and 17.5 years, respectively) $ 52,297 $ 55,406 Ground leasehold liabilities, net of accumulated amortization of $146 and $53, respectively (with a weighted average remaining life of 43.4 years and 44.1 years, respectively) 5,179 5,272 $ 57,476 $ 60,678 The aggregate weighted average remaining life of intangible lease liabilities was 19.4 years and 19.8 years as of September 30, 2015 and December 31, 2014 , respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation In the ordinary course of business, the Company may become subject to litigation or claims. As of September 30, 2015 , there were, and currently there are, no material pending legal proceedings to which the Company is a party.

Related-Party Transactions and

Related-Party Transactions and Arrangements	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Related-Party Transactions and Arrangements	Related-Party Transactions and Arrangements The Company pays to the Advisor 2.0% of the contract purchase price of each property or asset acquired and 2.0% of the amount advanced with respect to a mortgage loan. For the three months ended September 30, 2015 and 2014 , the Company incurred $0 and $9,379,000 , respectively, and for the nine months ended September 30, 2015 and 2014 , the Company incurred $2,748,000 and $18,684,000 , respectively, in acquisition fees to the Advisor or its affiliates related to investments in real estate. During the three months ended September 30, 2015 and 2014 , the Company incurred $0 and $136,000 , respectively, and during the nine months ended September 30, 2015 and 2014 , the Company incurred $5,000 and $293,000 , respectively, in acquisition fees to the Advisor or its affiliates related to investments in real estate-related notes receivables. The Company pays the Advisor an annual asset management fee of 0.85% of the aggregate asset value plus costs and expenses incurred by the Advisor in providing asset management services. The fee is payable monthly in an amount equal to 0.07083% of the aggregate asset value as of the last day of the immediately preceding month. For the three months ended September 30, 2015 and 2014 , the Company incurred $4,708,000 and $4,078,000 , respectively, and for the nine months ended September 30, 2015 and 2014 , the Company incurred $13,274,000 and $9,538,000 , respectively, in asset management fees to the Advisor. The Company reimburses the Advisor for all expenses it paid or incurred in connection with the services provided to the Company, subject to certain limitations. The Company will not reimburse the Advisor for personnel costs in connection with services for which the Advisor receives an acquisition and advisory fee or a disposition fee. For the three months ended September 30, 2015 and 2014 , the Advisor allocated $376,000 and $410,000 , respectively, and for the nine months ended September 30, 2015 and 2014 , the Advisor allocated $941,000 and $1,279,000 , respectively, in operating expenses on the Company’s behalf. The Company has no direct employees. The employees of the Advisor and other affiliates provide services to the Company related to acquisitions, property management, asset management, accounting, investor relations, and all other administrative services. If the Advisor or its affiliates provides a substantial amount of services, as determined by a majority of the Company’s independent directors, in connection with the sale of one or more properties, the Company will pay the Advisor a disposition fee up to the lesser of 1.0% of the contract sales price and one-half of the brokerage commission paid if a third party broker is involved. In no event will the combined real estate commission paid to the Advisor, its affiliates and unaffiliated third parties exceed 6.0% of the contract sales price. In addition, after investors have received a return on their net capital contributions and an 8.0% cumulative non-compounded annual return, then the Advisor is entitled to receive 15.0% of the remaining net sale proceeds. For the three and nine months ended September 30, 2015 and 2014 , the Company did not incur a disposition fee or a subordinated participation in net sale proceeds to the Advisor or its affiliates. Upon listing of the Company’s common stock on a national securities exchange, a listing fee equal to 15.0% of the amount by which the market value of the Company’s outstanding stock plus all distributions paid by the Company prior to listing exceeds the sum of the total amount of capital raised from investors and the amount of cash flow necessary to generate an 8.0% cumulative, non-compounded annual return to investors will be paid to the Advisor. For the three and nine months ended September 30, 2015 and 2014 , the Company did not incur a listing fee. The Company pays Carter Validus Real Estate Management Services, LLC, or the Property Manager, leasing and management fees for the Company’s properties. Such fees equal 3.0% of gross revenues from single-tenant properties and 4.0% of gross revenues from multi-tenant properties. The Company will reimburse the Property Manager and its affiliates for property-level expenses that any of them pay or incur on the Company’s behalf, including salaries, bonuses and benefits of persons employed by the Property Manager and its affiliates, except for the salaries, bonuses and benefits of persons who also serve as one of the Company’s executive officers. The Property Manager and its affiliates may subcontract the performance of their duties to third parties and pay all or a portion of the property management fee to the third parties with whom they contract for these services. If the Company contracts directly with third parties for such services at customary market fees, the Company may pay the Property Manager an oversight fee equal to 1.0% of the gross revenues of the property managed. In no event will the Company pay the Property Manager, the Advisor or its affiliates both a property management fee and an oversight fee with respect to any particular property. The Company will pay the Property Manager a separate fee for the one-time initial rent-up, lease renewals or leasing-up of newly constructed properties in an amount not to exceed the fee customarily charged in arm’s length transactions by others rendering similar services in the same geographic area for similar properties as determined by a survey of brokers and agents in such area. For the three months ended September 30, 2015 and 2014 , the Company incurred $1,139,000 and $936,000 , respectively, and for the nine months ended September 30, 2015 and 2014 , the Company incurred $3,585,000 and $2,328,000 , respectively, in property management fees to the Property Manager. Accounts Payable Due to Affiliates The following amounts were outstanding due to affiliates as of September 30, 2015 and December 31, 2014 (amounts in thousands): Entity Fee September 30, 2015 December 31, 2014 Carter/Validus Advisors, LLC and its affiliates Asset management fees $ 1,575 $ 1,307 Carter Validus Real Estate Management Services, LLC Property management fees 382 385 Carter/Validus Advisors, LLC and its affiliates General, administrative and other costs 235 141 $ 2,192 $ 1,833

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting Management reviews the performance of individual properties and aggregates individual properties based on operating criteria into two reportable segments—commercial real estate investments in data centers and healthcare, and makes operating decisions based on these two reportable segments. The Company’s commercial real estate investments in data centers and healthcare are based on certain underwriting assumptions and operating criteria, which are different for data centers and healthcare. There were no intersegment sales or transfers during the three and nine months ended September 30, 2015 and 2014 . The Company evaluates performance based on net operating income of the individual properties in each segment. Net operating income, a non-GAAP financial measure, is defined as total revenues, less rental expenses, which excludes depreciation and amortization, general and administrative expenses, acquisition related expenses, asset management fees, change in fair value of contingent consideration, interest expense and interest income. The Company believes that segment net operating income serves as a useful supplement to net income because it allows investors and management to measure unlevered property-level operating results and to compare operating results to the operating results of other real estate companies and between periods on a consistent basis. Segment net operating income should not be considered as an alternative to net income determined in accordance with GAAP as an indicator of financial performance, and accordingly, the Company believes that in order to facilitate a clear understanding of the consolidated historical operating results, segment net operating income should be examined in conjunction with net income as presented in the accompanying condensed consolidated financial statements and data included elsewhere in this Quarterly Report on Form 10-Q. Real estate-related notes receivables interest income, general and administrative expenses, change in fair value of contingent consideration, acquisition related expenses, asset management fees, depreciation and amortization, other income and interest expense are not allocated to individual segments for purposes of assessing segment performance. Non-segment assets primarily consist of corporate assets, including cash and cash equivalents, real estate and escrow deposits, deferred financing costs, real estate-related notes receivables, the Preferred Equity Investment and other assets not attributable to individual properties. Summary information for the reportable segments during the three and nine months ended September 30, 2015 and 2014 , are as follows (amounts in thousands): Data Healthcare Three Months Ended Revenue: Rental, parking and tenant reimbursement revenue $ 28,407 $ 20,289 $ 48,696 Expenses: Rental and parking expenses (4,847 ) (1,562 ) (6,409 ) Segment net operating income $ 23,560 $ 18,727 42,287 Revenue: Real estate-related notes receivables interest income 18 Expenses: General and administrative expenses (1,609 ) Change in fair value of contingent consideration (160 ) Acquisition related expenses — Asset management fees (4,708 ) Depreciation and amortization (16,369 ) Income from operations 19,459 Other income (expense): Other income 2,709 Interest expense (7,733 ) Net income $ 14,435 Data Healthcare Three Months Ended Revenue: Rental, parking and tenant reimbursement revenue $ 24,752 $ 17,898 $ 42,650 Expenses: Rental and parking expenses (5,123 ) (985 ) (6,108 ) Segment net operating income $ 19,629 $ 16,913 36,542 Revenue: Real estate-related notes receivables interest expense (257 ) Expenses: General and administrative expenses (1,411 ) Acquisition related expenses (4,087 ) Asset management fees (4,078 ) Depreciation and amortization (13,002 ) Income from operations 13,707 Other income (expense): Other income 277 Interest expense (5,478 ) Net income $ 8,506 Data Healthcare Nine Months Ended Revenue: Rental, parking and tenant reimbursement revenue $ 86,226 $ 66,569 $ 152,795 Expenses: Rental and parking expenses (15,287 ) (5,805 ) (21,092 ) Segment net operating income $ 70,939 $ 60,764 131,703 Revenue: Real estate-related notes receivables interest income 373 Expenses: General and administrative expenses (4,469 ) Change in fair value of contingent consideration (460 ) Acquisition related expenses (3,654 ) Asset management fees (13,274 ) Depreciation and amortization (48,597 ) Income from operations 61,622 Other income (expense): Other income 5,828 Interest expense (21,043 ) Net income $ 46,407 Data Healthcare Nine Months Ended Revenue: Rental, parking and tenant reimbursement revenue $ 60,569 $ 40,977 $ 101,546 Expenses: Rental and parking expenses (12,104 ) (2,325 ) (14,429 ) Segment net operating income $ 48,465 $ 38,652 87,117 Revenue: Real estate-related notes receivables interest income 2,174 Expenses: General and administrative expenses (3,212 ) Acquisition related expenses (10,598 ) Asset management fees (9,538 ) Depreciation and amortization (31,275 ) Income from operations 34,668 Other income (expense): Other income 477 Interest expense (13,905 ) Net income $ 21,240 Assets by reportable segments as of September 30, 2015 and December 31, 2014 are as follows (amounts in thousands): September 30, 2015 December 31, 2014 Assets by segment: Data centers $ 1,110,250 $ 1,130,131 Healthcare 1,115,858 933,257 All other 173,537 127,454 Total assets $ 2,399,645 $ 2,190,842 Capital additions and acquisitions by reportable segments for the nine months ended September 30, 2015 and 2014 are as follows (amounts in thousands): Nine Months Ended 2015 2014 Capital additions and acquisitions by segment: Data centers $ 2,793 $ 438,539 Healthcare 178,812 547,485 Total capital additions and acquisitions $ 181,605 $ 986,024

Preferred Equity Investment

Preferred Equity Investment	9 Months Ended
	Sep. 30, 2015
Investments, All Other Investments [Abstract]
Preferred Equity Investment	Preferred Equity Investment During the nine months ended September 30, 2015 , the Company invested an aggregate amount of $127,147,000 in 7.875% Series B Redeemable Cumulative Preferred Stock. The Preferred Equity Investment is stated at cost and consisted of a principal amount of $125,000,000 , plus origination costs of $2,772,000 , offset by closing fees of $625,000 . During the three and nine months ended September 30, 2015 , the Company recognized dividend income related to the Preferred Equity Investment of approximately $2,461,000 and $5,359,000 , respectively.

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value	Fair Value Preferred Equity Investment —The carrying value of the Preferred Equity Investment was $127,147,000 as of September 30, 2015 , which approximated its fair value. Notes payable – Fixed Rate —The estimated fair value of notes payable – fixed rate measured using quoted prices and observable inputs from similar liabilities (Level 2) was approximately $132,700,000 and $134,837,000 as of September 30, 2015 and December 31, 2014 , respectively, as compared to the carrying value of $132,010,000 and $134,271,000 as of September 30, 2015 and December 31, 2014 , respectively. Notes payable – Variable —The estimated fair value of notes payable – variable rate fixed through interest rate swap agreements (Level 2) was approximately $366,062,000 and $208,889,000 as of September 30, 2015 and December 31, 2014 , respectively, as compared to the carrying value of $371,106,000 and $206,162,000 as of September 30, 2015 and December 31, 2014 , respectively. The carrying value of the notes payable – variable was $43,481,000 and $150,476,000 as of September 30, 2015 and December 31, 2014 , respectively, which approximated its fair value. Unsecured credit facility —The carrying value of the unsecured credit facility – variable was $228,000,000 and $20,000,000 , which approximated its fair value, as of September 30, 2015 and December 31, 2014 , respectively. The estimated fair value of the unsecured credit facility – variable rate fixed through interest rate swap agreements (Level 2) was approximately $51,422,000 and $50,505,000 as of September 30, 2015 and December 31, 2014 , respectively, as compared to the carrying value of $55,000,000 and $55,000,000 as of September 30, 2015 and December 31, 2014 , respectively. Contingent consideration —The Company has contingent obligations to transfer cash payments to the former owner in conjunction with a certain acquisition if specified future operational objectives are met over future reporting periods. Liabilities for contingent consideration will be measured at fair value each reporting period, with the acquisition-date fair value included as part of the consideration transferred, and subsequent changes in fair value recorded in earnings as change in fair value of contingent consideration. The estimated fair value and the carrying value of the contingent consideration was $7,030,000 and $6,570,000 as of September 30, 2015 and December 31, 2014 , respectively, which is reported in the accompanying condensed consolidated balance sheets in accounts payable and other liabilities. The Company uses an income approach to value the contingent consideration liability, which is determined based on the present value of probability-weighted future cash flows. The Company has classified the contingent consideration liability as Level 3 of the fair value hierarchy due to the lack of relevant observable market data over fair value inputs such as probability-weighting for payment outcomes. Increases in the assessed likelihood of a high payout under a contingent consideration arrangement contributes to increases in the fair value of the related liability. Conversely, decreases in the assessed likelihood of a higher payout under a contingent consideration arrangement contributes to decreases in the fair value of the related liability. Changes in assumptions could have an impact on the payout of contingent consideration arrangements with a maximum payout of $9,069,000 in cash and a minimum payout of $0 as of September 30, 2015 . Derivative instruments — Considerable judgment is necessary to develop estimated fair values of financial instruments. Accordingly, the estimates presented herein are not necessarily indicative of the amount the Company could realize, or be liable for, on disposition of the financial instruments. The Company has determined that the majority of the inputs used to value its interest rate swaps fall within Level 2 of the fair value hierarchy. The credit valuation adjustment associated with these instruments utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by the Company and the respective counterparty. However, as of September 30, 2015 , the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions, and has determined that the credit valuation adjustments are not significant to the overall valuation of its interest rate swaps. As a result, the Company determined that its interest rate swaps valuation in its entirety is classified in Level 2 of the fair value hierarchy. In accordance with the fair value hierarchy described above, the following table shows the fair value of the Company’s financial assets and liabilities that are required to be measured at fair value on a recurring basis as of September 30, 2015 and December 31, 2014 (amounts in thousands): September 30, 2015 Fair Value Hierarchy Quoted Prices in Active Significant Other Significant Total Fair Assets: Derivative assets $ — $ — $ — $ — Total assets at fair value $ — $ — $ — $ — Liabilities: Derivative liabilities $ — $ (6,494 ) $ — $ (6,494 ) Contingent consideration obligations — — (7,030 ) (7,030 ) Total liabilities at fair value $ — $ (6,494 ) $ (7,030 ) $ (13,524 ) December 31, 2014 Fair Value Hierarchy Quoted Prices in Active Significant Other Significant Total Fair Assets: Derivative assets $ — $ 273 $ — $ 273 Total assets at fair value $ — $ 273 $ — $ 273 Liabilities: Derivative liabilities $ — $ (1,808 ) $ — $ (1,808 ) Contingent consideration obligations — — (6,570 ) (6,570 ) Total liabilities at fair value $ — $ (1,808 ) $ (6,570 ) $ (8,378 ) The following table provides a rollforward of the fair value of recurring Level 3 fair value measurements for the three and nine months ended September 30, 2015 and 2014 (amounts in thousands): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Liabilities: Contingent consideration obligations: Beginning balance $ 6,870 $ 5,030 $ 6,570 $ — Additions to contingent consideration obligations — — — 5,030 Total changes in fair value included in earnings 160 — 460 — Ending balance $ 7,030 $ 5,030 $ 7,030 $ 5,030 Unrealized losses still held (1) $ 160 $ — $ 460 $ — (1) Represents the unrealized losses recorded in earnings or other comprehensive income (loss) during the period for liabilities classified as Level 3 that are still held at the end of the period.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities Cash Flow Hedges of Interest Rate Risk The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish these objectives, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable rate amounts from a counterparty in exchange for the Company making fixed rate payments over the life of the agreements without exchange of the underlying notional amount. The effective portion of changes in the fair value of derivatives designated, and that qualify, as cash flow hedges is recorded in accumulated other comprehensive loss in the accompanying condensed consolidated statement of stockholders’ equity and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. During the nine months ended September 30, 2015 , such derivatives were used to hedge the variable cash flows associated with variable rate debt. The ineffective portion of changes in fair value of the derivatives is recognized directly in earnings. During the three and nine months ended September 30, 2015 and 2014 , no gains or losses were recognized due to ineffectiveness of hedges of interest rate risk. Amounts reported in accumulated other comprehensive loss related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s variable-rate debt. During the next twelve months, the Company estimates that an additional $4,257,000 will be reclassified from accumulated other comprehensive loss as an increase to interest expense. See Note 13—“Fair Value” for a further discussion of the fair value of the Company’s derivative instruments. The following table summarizes the notional amount and fair value of the Company’s derivative instruments (amounts in thousands): Derivatives Balance Effective Maturity September 30, 2015 December 31, 2014 Outstanding Fair Value of Outstanding Fair Value of Asset (Liability) (1) Asset (2) (Liability) (3) Interest rate swaps Other assets/Accounts 10/12/2012 to 10/11/2017 to $ 426,106 $ — $ (6,494 ) $ 261,162 $ 273 $ (1,808 ) (1) Of this amount, $(6,494,000) related to controlling interests. (2) Of this amount, $273,000 related to controlling interests. (3) Of this amount, $(1,434,000) related to controlling interests and $(374,000) related to noncontrolling interests. The notional amount under the agreements is an indication of the extent of the Company’s involvement in each instrument at the time, but does not represent exposure to credit, interest rate or market risks. Accounting for changes in the fair value of a derivative instrument depends on the intended use and designation of the derivative instrument. The Company designated the interest rate swaps as cash flow hedges to hedge the variability of the anticipated cash flows on its variable rate notes payable. The change in fair value of the effective portion of the derivative instrument that is designated as a hedge is recorded in other comprehensive income (loss), or OCI, in the accompanying condensed consolidated statements of comprehensive income. The table below summarizes the amount of gains or losses recognized on interest rate derivatives designated as cash flow hedges for the three and nine months ended September 30, 2015 and 2014 (amounts in thousands): Derivatives in Cash Flow Hedging Relationships Amount of Loss Recognized Location Of Loss Amount of Loss Three Months Ended September 30, 2015 Interest rate swaps $ (5,246 ) Interest Expense $ (1,215 ) Total $ (5,246 ) $ (1,215 ) Three Months Ended September 30, 2014 Interest rate swaps $ (59 ) Interest Expense $ (841 ) Total $ (59 ) $ (841 ) Nine Months Ended September 30, 2015 Interest rate swaps $ (7,999 ) Interest Expense $ (3,040 ) Total $ (7,999 ) $ (3,040 ) Nine Months Ended September 30, 2014 Interest rate swaps $ (2,513 ) Interest Expense $ (1,787 ) Total $ (2,513 ) $ (1,787 ) Credit Risk-Related Contingent Features The Company has agreements with each of its derivative counterparties that contain cross-default provisions, whereby if the Company defaults on certain of its unsecured indebtedness, then the Company could also be declared in default on its derivative obligations, resulting in an acceleration of payment thereunder. In addition, the Company is exposed to credit risk in the event of non-performance by its derivative counterparties. The Company believes it mitigates its credit risk by entering into agreements with creditworthy counterparties. The Company records credit risk valuation adjustments on its interest rate swaps based on the respective credit quality of the Company and the counterparty. As of September 30, 2015 , the fair value of derivatives in a net liability position, including accrued interest but excluding any adjustment for nonperformance risk related to these agreements, was $7,285,000 . As of September 30, 2015 , there were no termination events or events of default related to the interest rate swaps. Tabular Disclosure Offsetting Derivatives The Company has elected not to offset derivative positions in its condensed consolidated financial statements. The following table presents the effect on the Company’s financial position had the Company made the election to offset its derivative positions as of September 30, 2015 and December 31, 2014 (amounts in thousands): Offsetting of Derivative Assets Gross Amounts Not Offset in the Balance Sheet Gross Gross Amounts Net Amounts of Financial Instruments Cash Collateral Net September 30, 2015 $ — $ — $ — $ — $ — $ — December 31, 2014 $ 273 $ — $ 273 $ — $ — $ 273 Offsetting of Derivative Liabilities Gross Amounts Not Offset in the Balance Sheet Gross Gross Amounts Net Amounts of Financial Instruments Cash Collateral Net September 30, 2015 $ 6,494 $ — $ 6,494 $ — $ — $ 6,494 December 31, 2014 $ 1,808 $ — $ 1,808 $ — $ — $ 1,808 The Company reports derivatives in the accompanying condensed consolidated balance sheets as other assets and accounts payable and other liabilities.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following table presents a rollforward of amounts recognized in accumulated other comprehensive loss, net of noncontrolling interests, by component for the nine months ended September 30, 2015 (amounts in thousands): Unrealized Loss on Derivative Accumulated Other Balance as of December 31, 2014 $ (1,161 ) $ (1,161 ) Other comprehensive loss before reclassification (7,661 ) (7,661 ) Amount of loss reclassified from accumulated other comprehensive loss to net income (effective portion) 2,808 2,808 Other comprehensive loss (4,853 ) (4,853 ) Purchase of noncontrolling interests — (480 ) Balance as of September 30, 2015 $ (6,014 ) $ (6,494 ) The following table presents reclassifications out of accumulated other comprehensive loss for the nine months ended September 30, 2015 (amounts in thousands): Details about Accumulated Other Amounts Reclassified from Affected Line Items in the Condensed Interest rate swap contracts $ 3,040 Interest expense

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Distributions Paid On October 1, 2015 , the Company paid aggregate distributions of $10,348,000 ( $4,716,000 in cash and $5,632,000 in shares of the Company’s common stock issued pursuant to the DRIP Offering), which related to distributions declared for each day in the period from September 1, 2015 through September 30, 2015. On November 2, 2015, the Company paid aggregate distributions of $10,722,000 ( $4,901,000 in cash and $5,821,000 in shares of the Company’s common stock issued pursuant to the DRIP Offering), which related to distributions declared for each day in the period from October 1, 2015 through October 31, 2015. Distributions Declared On November 5, 2015, the board of directors of the Company approved and declared a distribution to the Company’s stockholders of record as of the close of business on each day of the period commencing on December 1, 2015 and ending on February 29, 2016. The distributions for December 2015 will be calculated based on 365 days in the calendar year and equal to $0.001917808 per share of common stock, which will be equal to an annualized distribution rate of 7.0% , assuming a purchase price of $10.00 per share. The distributions for January 2016 and February 2016 will be calculated based on 366 days in the calendar year and will be equal to $0.001912568 per share of common stock, which will be equal to an annualized distribution rate of 7.0% , assuming a purchase price of $10.00 per share. The distributions declared for each record date in December 2015, January 2016 and February 2016 will be paid in January 2016, February 2016 and March 2016, respectively. The distributions will be payable to stockholders from legally available funds therefor.

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The accompanying condensed consolidated financial statements include the accounts of the Company, the Operating Partnership, all majority-owned subsidiaries and controlled subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of the financial statements in conformity with GAAP necessarily requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Concentration of Credit Risk and Significant Leases	Concentration of Credit Risk and Significant Leases As of September 30, 2015 , the Company had cash on deposit, including restricted cash, in certain financial institutions which had deposits in excess of current federally insured levels; however, the Company has not experienced any losses in such accounts. The Company limits its cash investments to financial institutions with high credit standings; therefore, the Company believes it is not exposed to any significant credit risk on its cash deposits. To date, the Company has experienced no loss or lack of access to cash in its accounts. Concentration of credit risk with respect to accounts receivable from tenants is limited. As of September 30, 2015 , the Company owned real estate investments in 44 MSAs, (including one real estate investment owned through a consolidated partnership), four of which accounted for 10.0% or more of rental revenue. Real estate investments located in the Dallas-Ft. Worth-Arlington, Texas MSA, the Chicago-Naperville-Elgin, Illinois-Indiana-Wisconsin MSA, the Atlanta-Sandy Springs-Roswell, Georgia MSA and the Houston-The Woodlands-Sugar Land, Texas MSA accounted for an aggregate of 13.8% , 12.1% , 10.1% and 10.6% , respectively, of rental revenue for the nine months ended September 30, 2015 . As of September 30, 2015 , the Company had two tenants that accounted for 10.0% or more of rental revenue. The leases with AT&T Services, Inc. and the lease with Bay Area Regional Medical Center, LLC accounted for 13.2% and 10.4% , respectively, of rental revenue for the nine months ended September 30, 2015 .
Share Repurchase Program	Share Repurchase Program The Company’s share repurchase program allows for repurchases of shares of the Company’s common stock when certain criteria are met. The share repurchase program provides that all redemptions during any calendar year, including those redeemable upon death or a qualifying disability of a stockholder, are limited to those that can be funded with proceeds raised from the DRIP Offering during the prior calendar year and other operating funds, if any, as the board of directors, in its sole discretion, may reserve for this purpose. Repurchases of shares of the Company’s common stock are at the sole discretion of the Company’s board of directors. In addition, the Company’s board of directors, at its sole discretion, may amend, suspend, reduce, terminate or otherwise change the share repurchase program upon 30 days ' prior notice to the Company’s stockholders for any reason it deems appropriate. The share repurchase program provides that the Company will limit the number of shares repurchased during any calendar year to 5.0% of the number of shares of common stock outstanding as of December 31st of the previous calendar year. During the nine months ended September 30, 2015 , the Company received valid redemption requests related to approximately 577,000 shares of common stock, all of which were redeemed in full for an aggregate purchase price of approximately $5,521,000 (an average of $9.57 per share). During the nine months ended September 30, 2014 , the Company received valid redemption requests related to approximately 295,000 shares of common stock, all of which were redeemed in full for an aggregate purchase price of approximately $2,837,000 (an average of $9.62 per share).
Earnings Per Share	Earnings Per Share Basic earnings per share attributable for all periods presented are computed by dividing net income attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Shares of non-vested restricted common stock give rise to potentially dilutive shares of common stock. Diluted earnings per share are computed based on the weighted average number of shares outstanding and all potentially dilutive securities. Diluted earnings per share reflect the effect of approximately 17,000 shares for the three months ended September 30, 2015 and 2014 and approximately 19,000 shares for the nine months ended September 30, 2015 and 2014 of non-vested shares of restricted common stock that were outstanding as of such period.
Preferred Equity Investment	Preferred Equity Investment The Company accounts for its Preferred Equity Investment as an asset under the cost method of accounting, as the Company exercises no influence over the investee. The Company recognizes dividends as other income in the condensed consolidated statements of comprehensive income.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements On May 28, 2014, the Financial Accounting Standards Board, or the FASB, issued Accounting Standards Update, or ASU, 2014-09, Revenue from Contracts with Customers , or ASU 2014-09. The objective of ASU 2014-09 is to clarify the principles for recognizing revenue and to develop a common revenue standard for GAAP. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 defines a five-step process to achieve this core principle, which may require more judgment and estimates within the revenue recognition process than are required under existing GAAP. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606) Deferral of the Effective Date , or ASU 2015-14. ASU 2015-14 defers the effective date of ASU 2014-09 by one year to fiscal years and interim periods beginning after December 15, 2017. Early adoption is permitted as of the original effective date, which was annual reporting periods beginning after December 15, 2016, and the interim periods within that year. The Company is in the process of evaluating the impact ASU 2014-09 will have on the Company’s condensed consolidated financial statements. On February 18, 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis , or ASU 2015-02, that changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. The amendment affects the following areas: limited partnerships and similar legal entities, evaluating fees paid to a decision maker or a service provider as a variable interest, the effect of fee arrangements on the primary beneficiary determination and certain investment funds. Under the amendment, all reporting entities are within the scope of ASC Subtopic 810-10, Consolidation — Overall , unless a scope exception applies. The presumption that a general partner controls a limited partnership has been eliminated. In addition, fees paid to decision makers that meet certain conditions no longer cause decision makers to consolidate variable interest entities in certain instances. The amendment is effective for public business entities for periods beginning after December 15, 2015. Early adoption of ASU 2015-02 is permitted. The Company is in the process of evaluating the impact ASU 2015-02 will have on the Company’s condensed consolidated financial statements. On April 7, 2015, the FASB issued ASU 2015-03, Interest — Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs , or ASU 2015-03, that intends to simplify the presentation of debt issuance costs. The amendment requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. On August 18, 2015, the FASB issued ASU 2015-15, Interest — Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated With Line-of-Credit Arrangements — Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 Emerging Issues Task Force Meeting (SEC Update), or ASU 2015-15, which clarified that the SEC staff would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. Both ASU 2015-03 and ASU 2015-15 are effective for public business entities for fiscal years beginning after December 15, 2015, and are to be applied retrospectively, with early adoption permitted. The Company is in the process of evaluating the impact ASU 2015-03 and ASU 2015-15 will have on the Company’s condensed consolidated financial statements. On September 25, 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments, or ASU 2015-16, which eliminates the requirement for an acquirer to retrospectively adjust the financial statements for measurement-period adjustments that occur in periods after a business combination is consummated. ASU 2015-16 requires that the acquirer recognize adjustments to the provisional amounts recorded in the reporting period when the adjustments are determined. The effects of adjustments (such as depreciation, amortization, or other income effects) to provisional amounts to periods after the acquisition date are included in the earnings of the current reporting period. The amendment is effective for public business entities for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. Early adoption of ASU 2015-16 is permitted. The Company is in the process of evaluating the impact ASU 2015-16 will have on the Company’s condensed consolidated financial statements.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform to the current financial statement presentation, with no effect on the Company’s condensed consolidated financial position or results of operations.

Real Estate Investments (Tables

Real Estate Investments (Tables)	9 Months Ended
	Sep. 30, 2015
Real Estate Properties [Line Items]
Schedule of Business Combinations	The following table summarizes the 2015 Acquisitions: Property Description Date Ownership Landmark Hospital of Savannah 1/15/2015 100% 21st Century Oncology Portfolio (1) 3/31/2015; 04/20/2015 100% (1) Portfolio consists of 20 real estate properties, 18 of which were purchased on March 31, 2015 and two of which were purchased on April 20, 2015 .
Schedule of Allocation of Fair Value of Business Combinations	As of September 30, 2015 , the Company completed its fair value purchase price allocation for the 2015 Acquisitions. The following table summarizes the Company’s allocation of the fair value purchase price of the 2015 Acquisitions acquired during the nine months ended September 30, 2015 (amounts in thousands): Total Land $ 19,469 Buildings and improvements 101,251 In-place leases 15,819 Tenant improvements 1,123 Above-market leases 635 Total assets acquired 138,297 Below-market leases (870 ) Total liabilities acquired (870 ) Net assets acquired $ 137,427
Schedule of Business Combinations on a Pro Forma Basis	Assuming the 2015 Acquisitions described above had occurred on January 1, 2014, pro forma revenues, net income and net income attributable to common stockholders would have been as follows (amounts in thousands, unaudited): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Pro forma basis: Revenues $ 48,714 $ 47,489 $ 155,842 $ 130,852 Net income $ 14,435 $ 14,993 $ 51,184 $ 43,912 Net income attributable to common stockholders $ 13,572 $ 13,841 $ 47,127 $ 41,475 Net income per common share attributable to common stockholders: Basic $ 0.08 $ 0.08 $ 0.27 $ 0.26 Diluted $ 0.08 $ 0.08 $ 0.27 $ 0.26

Acquired Intangible Assets, N26

Acquired Intangible Assets, Net (Tables)	9 Months Ended
	Sep. 30, 2015
Finite-Lived Intangible Assets, Net [Abstract]
Schedule of Acquired Intangible Assets, Net	Acquired intangible assets, net, which are included in real estate in the accompanying condensed consolidated balance sheets, consisted of the following as of September 30, 2015 and December 31, 2014 (amounts in thousands, except weighted average life amounts): September 30, 2015 December 31, 2014 In-place leases, net of accumulated amortization of $34,002 and $21,099, respectively (with a weighted average remaining life of 14.4 years and 15.1 years, respectively) $ 198,078 $ 198,635 Above-market leases, net of accumulated amortization of $825 and $529, respectively (with a weighted average remaining life of 11.2 years and 11.4 years, respectively) 3,457 3,118 Ground lease interest, net of accumulated amortization of $170 and $131, respectively (with a weighted average remaining life of 60.6 years and 61.2 years, respectively) 2,644 2,683 $ 204,179 $ 204,436

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2015
Other Assets [Abstract]
Schedule of Other Assets	Other assets consisted of the following as of September 30, 2015 and December 31, 2014 (amounts in thousands): September 30, 2015 December 31, 2014 Deferred financing costs, net of accumulated amortization of $7,326 and $4,532, respectively $ 10,793 $ 11,172 Lease commissions, net of accumulated amortization of $144 and $54, respectively 3,704 394 Investments in unconsolidated partnerships 99 106 Tenant receivable 4,248 3,361 Notes receivables 11,000 — Straight-line rent receivable 41,353 25,566 Restricted cash held in escrow 13,696 13,382 Real estate escrow deposits — 250 Restricted cash 661 734 Derivative assets — 273 Prepaid and other assets 4,946 2,189 $ 90,500 $ 57,427

Future Minimum Rent (Tables)

Future Minimum Rent (Tables)	9 Months Ended
	Sep. 30, 2015
Leases [Abstract]
Schedule of Future Minimum Rental Income from Non-Cancelable Operating Leases	The future minimum rental income from the Company’s investment in real estate assets under non-cancelable operating leases including optional renewal periods for which exercise is reasonably assured for the three months ending December 31, 2015 and for each of the next four years ending December 31 and thereafter, are as follows (amounts in thousands): Year Amount Three months ending December 31, 2015 $ 41,745 2016 171,576 2017 175,139 2018 178,500 2019 181,081 Thereafter 1,814,128 $ 2,562,169

Notes Payable and Unsecured C29

Notes Payable and Unsecured Credit Facility (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Schedule of Debt	The Company’s debt outstanding as of September 30, 2015 and December 31, 2014 consisted of the following (amounts in thousands): September 30, 2015 December 31, 2014 Notes payable: Fixed rate notes payable $ 132,010 $ 134,271 Variable rate notes payable fixed through interest rate swaps 371,106 206,162 Variable rate notes payable 43,481 150,476 Total notes payable 546,597 490,909 Unsecured credit facility: Revolving line of credit 73,000 — Term loan 210,000 75,000 Total unsecured credit facility 283,000 75,000 Total debt outstanding $ 829,597 $ 565,909
Schedule of Future Principal Payments Due on Debt	The principal payments and balloon payments due on the notes payable and the unsecured credit facility for the three months ending December 31, 2015 and for each of the next four years ending December 31 and thereafter, are as follows (amounts in thousands): Year Principal Payments Balloon Payments (1) Total Amount Three months ending December 31, 2015 $ 3,278 $ — $ 3,278 2016 13,007 13,441 26,448 2017 12,378 253,052 265,430 2018 10,454 140,134 150,588 2019 3,548 194,143 197,691 Thereafter 2,540 183,622 186,162 $ 45,205 $ 784,392 $ 829,597 (1) Includes the unsecured credit facility.

Intangible Lease Liabilities,30

Intangible Lease Liabilities, Net (Tables)	9 Months Ended
	Sep. 30, 2015
Intangible Lease Liabilities, Net [Abstract]
Schedule of Intangible Lease Liabilities, Net	Intangible lease liabilities, net, consisted of the following as of September 30, 2015 and December 31, 2014 (amounts in thousands, except weighted average life amounts): September 30, 2015 December 31, 2014 Below-market leases, net of accumulated amortization of $14,700 and $10,721, respectively (with a weighted average remaining life of 17.1 years and 17.5 years, respectively) $ 52,297 $ 55,406 Ground leasehold liabilities, net of accumulated amortization of $146 and $53, respectively (with a weighted average remaining life of 43.4 years and 44.1 years, respectively) 5,179 5,272 $ 57,476 $ 60,678

Related-Party Transactions an31

Related-Party Transactions and Arrangements (Tables)	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Schedule of Accounts Payable Due to Affiliates	The following amounts were outstanding due to affiliates as of September 30, 2015 and December 31, 2014 (amounts in thousands): Entity Fee September 30, 2015 December 31, 2014 Carter/Validus Advisors, LLC and its affiliates Asset management fees $ 1,575 $ 1,307 Carter Validus Real Estate Management Services, LLC Property management fees 382 385 Carter/Validus Advisors, LLC and its affiliates General, administrative and other costs 235 141 $ 2,192 $ 1,833

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Schedule of Information for Reportable Segments	Summary information for the reportable segments during the three and nine months ended September 30, 2015 and 2014 , are as follows (amounts in thousands): Data Healthcare Three Months Ended Revenue: Rental, parking and tenant reimbursement revenue $ 28,407 $ 20,289 $ 48,696 Expenses: Rental and parking expenses (4,847 ) (1,562 ) (6,409 ) Segment net operating income $ 23,560 $ 18,727 42,287 Revenue: Real estate-related notes receivables interest income 18 Expenses: General and administrative expenses (1,609 ) Change in fair value of contingent consideration (160 ) Acquisition related expenses — Asset management fees (4,708 ) Depreciation and amortization (16,369 ) Income from operations 19,459 Other income (expense): Other income 2,709 Interest expense (7,733 ) Net income $ 14,435 Data Healthcare Three Months Ended Revenue: Rental, parking and tenant reimbursement revenue $ 24,752 $ 17,898 $ 42,650 Expenses: Rental and parking expenses (5,123 ) (985 ) (6,108 ) Segment net operating income $ 19,629 $ 16,913 36,542 Revenue: Real estate-related notes receivables interest expense (257 ) Expenses: General and administrative expenses (1,411 ) Acquisition related expenses (4,087 ) Asset management fees (4,078 ) Depreciation and amortization (13,002 ) Income from operations 13,707 Other income (expense): Other income 277 Interest expense (5,478 ) Net income $ 8,506 Data Healthcare Nine Months Ended Revenue: Rental, parking and tenant reimbursement revenue $ 86,226 $ 66,569 $ 152,795 Expenses: Rental and parking expenses (15,287 ) (5,805 ) (21,092 ) Segment net operating income $ 70,939 $ 60,764 131,703 Revenue: Real estate-related notes receivables interest income 373 Expenses: General and administrative expenses (4,469 ) Change in fair value of contingent consideration (460 ) Acquisition related expenses (3,654 ) Asset management fees (13,274 ) Depreciation and amortization (48,597 ) Income from operations 61,622 Other income (expense): Other income 5,828 Interest expense (21,043 ) Net income $ 46,407 Data Healthcare Nine Months Ended Revenue: Rental, parking and tenant reimbursement revenue $ 60,569 $ 40,977 $ 101,546 Expenses: Rental and parking expenses (12,104 ) (2,325 ) (14,429 ) Segment net operating income $ 48,465 $ 38,652 87,117 Revenue: Real estate-related notes receivables interest income 2,174 Expenses: General and administrative expenses (3,212 ) Acquisition related expenses (10,598 ) Asset management fees (9,538 ) Depreciation and amortization (31,275 ) Income from operations 34,668 Other income (expense): Other income 477 Interest expense (13,905 ) Net income $ 21,240
Schedule of Assets by Reportable Segments	Assets by reportable segments as of September 30, 2015 and December 31, 2014 are as follows (amounts in thousands): September 30, 2015 December 31, 2014 Assets by segment: Data centers $ 1,110,250 $ 1,130,131 Healthcare 1,115,858 933,257 All other 173,537 127,454 Total assets $ 2,399,645 $ 2,190,842
Schedule of Capital Additions and Acquisitions by Reportable Segments	Capital additions and acquisitions by reportable segments for the nine months ended September 30, 2015 and 2014 are as follows (amounts in thousands): Nine Months Ended 2015 2014 Capital additions and acquisitions by segment: Data centers $ 2,793 $ 438,539 Healthcare 178,812 547,485 Total capital additions and acquisitions $ 181,605 $ 986,024

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	In accordance with the fair value hierarchy described above, the following table shows the fair value of the Company’s financial assets and liabilities that are required to be measured at fair value on a recurring basis as of September 30, 2015 and December 31, 2014 (amounts in thousands): September 30, 2015 Fair Value Hierarchy Quoted Prices in Active Significant Other Significant Total Fair Assets: Derivative assets $ — $ — $ — $ — Total assets at fair value $ — $ — $ — $ — Liabilities: Derivative liabilities $ — $ (6,494 ) $ — $ (6,494 ) Contingent consideration obligations — — (7,030 ) (7,030 ) Total liabilities at fair value $ — $ (6,494 ) $ (7,030 ) $ (13,524 ) December 31, 2014 Fair Value Hierarchy Quoted Prices in Active Significant Other Significant Total Fair Assets: Derivative assets $ — $ 273 $ — $ 273 Total assets at fair value $ — $ 273 $ — $ 273 Liabilities: Derivative liabilities $ — $ (1,808 ) $ — $ (1,808 ) Contingent consideration obligations — — (6,570 ) (6,570 ) Total liabilities at fair value $ — $ (1,808 ) $ (6,570 ) $ (8,378 )
Schedule of Reconciliation of Fair Value of Recurring Level 3 Fair Value Measurements	The following table provides a rollforward of the fair value of recurring Level 3 fair value measurements for the three and nine months ended September 30, 2015 and 2014 (amounts in thousands): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Liabilities: Contingent consideration obligations: Beginning balance $ 6,870 $ 5,030 $ 6,570 $ — Additions to contingent consideration obligations — — — 5,030 Total changes in fair value included in earnings 160 — 460 — Ending balance $ 7,030 $ 5,030 $ 7,030 $ 5,030 Unrealized losses still held (1) $ 160 $ — $ 460 $ — (1) Represents the unrealized losses recorded in earnings or other comprehensive income (loss) during the period for liabilities classified as Level 3 that are still held at the end of the period.

Derivative Instruments and He34

Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of the Notional Amount and Fair Value of Derivative Instruments	The following table summarizes the notional amount and fair value of the Company’s derivative instruments (amounts in thousands): Derivatives Balance Effective Maturity September 30, 2015 December 31, 2014 Outstanding Fair Value of Outstanding Fair Value of Asset (Liability) (1) Asset (2) (Liability) (3) Interest rate swaps Other assets/Accounts 10/12/2012 to 10/11/2017 to $ 426,106 $ — $ (6,494 ) $ 261,162 $ 273 $ (1,808 ) (1) Of this amount, $(6,494,000) related to controlling interests. (2) Of this amount, $273,000 related to controlling interests. (3) Of this amount, $(1,434,000) related to controlling interests and $(374,000) related to noncontrolling interests.
Schedule of Gains or Losses Recognized on Derivative Instruments	The table below summarizes the amount of gains or losses recognized on interest rate derivatives designated as cash flow hedges for the three and nine months ended September 30, 2015 and 2014 (amounts in thousands): Derivatives in Cash Flow Hedging Relationships Amount of Loss Recognized Location Of Loss Amount of Loss Three Months Ended September 30, 2015 Interest rate swaps $ (5,246 ) Interest Expense $ (1,215 ) Total $ (5,246 ) $ (1,215 ) Three Months Ended September 30, 2014 Interest rate swaps $ (59 ) Interest Expense $ (841 ) Total $ (59 ) $ (841 ) Nine Months Ended September 30, 2015 Interest rate swaps $ (7,999 ) Interest Expense $ (3,040 ) Total $ (7,999 ) $ (3,040 ) Nine Months Ended September 30, 2014 Interest rate swaps $ (2,513 ) Interest Expense $ (1,787 ) Total $ (2,513 ) $ (1,787 )
Schedule of Offsetting of Derivative Assets	The following table presents the effect on the Company’s financial position had the Company made the election to offset its derivative positions as of September 30, 2015 and December 31, 2014 (amounts in thousands): Offsetting of Derivative Assets Gross Amounts Not Offset in the Balance Sheet Gross Gross Amounts Net Amounts of Financial Instruments Cash Collateral Net September 30, 2015 $ — $ — $ — $ — $ — $ — December 31, 2014 $ 273 $ — $ 273 $ — $ — $ 273
Schedule of Offsetting of Derivative Liabilities	Offsetting of Derivative Liabilities Gross Amounts Not Offset in the Balance Sheet Gross Gross Amounts Net Amounts of Financial Instruments Cash Collateral Net September 30, 2015 $ 6,494 $ — $ 6,494 $ — $ — $ 6,494 December 31, 2014 $ 1,808 $ — $ 1,808 $ — $ — $ 1,808

Accumulated Other Comprehensi35

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Amounts Recognized in Accumulated Other Comprehensive Loss	The following table presents a rollforward of amounts recognized in accumulated other comprehensive loss, net of noncontrolling interests, by component for the nine months ended September 30, 2015 (amounts in thousands): Unrealized Loss on Derivative Accumulated Other Balance as of December 31, 2014 $ (1,161 ) $ (1,161 ) Other comprehensive loss before reclassification (7,661 ) (7,661 ) Amount of loss reclassified from accumulated other comprehensive loss to net income (effective portion) 2,808 2,808 Other comprehensive loss (4,853 ) (4,853 ) Purchase of noncontrolling interests — (480 ) Balance as of September 30, 2015 $ (6,014 ) $ (6,494 )
Schedule of Reclassifications Out of Accumulated Other Comprehensive Loss	The following table presents reclassifications out of accumulated other comprehensive loss for the nine months ended September 30, 2015 (amounts in thousands): Details about Accumulated Other Amounts Reclassified from Affected Line Items in the Condensed Interest rate swap contracts $ 3,040 Interest expense

Organization and Business Ope36

Organization and Business Operations (Details) $ / shares in Units, shares in Thousands	Sep. 30, 2015USD ($)real_estate_investmentmetropolitanproperty$ / sharesshares	Jun. 06, 2014USD ($)	Sep. 30, 2015USD ($)real_estate_investmentmetropolitansegmentproperty$ / shares	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)$ / shares	Apr. 14, 2014USD ($)
Organization and Business Operations [Line Items]
Number of reportable business segments | segment			2
Number of Company owned real estate investments | real_estate_investment	48		48
Number of Company owned properties | property	79		79
Number of metropolitan statistical areas in which Company owns real estate investments | metropolitan	44		44
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.01		$ 0.01		$ 0.01
Preferred equity investment	$ 127,147,000		$ 127,147,000		$ 0
Redemption of common stock			$ 5,521,000	$ 2,837,000
Consolidated Partnerships [Member]
Organization and Business Operations [Line Items]
Number of Company owned real estate investments | real_estate_investment	1		1
Initial Public Offering [Member]
Organization and Business Operations [Line Items]
Common stock offering, value authorized		$ 1,746,875,000
Common stock offering, gross proceeds raised		$ 1,716,046,000
DRIP Offering [Member]
Organization and Business Operations [Line Items]
Common stock offering, value authorized						$ 100,000,000
Initial Public Offering and DRIP Offering [Member]
Organization and Business Operations [Line Items]
Common stock offering, gross proceeds raised	$ 1,794,581,000
Common stock offering, shares issued | shares	180,863
Redemption of common stock	$ 10,587,000
Offering costs, selling commissions and dealer manager fees	$ 174,708,000
Private Real Estate Corporation [Member] | Series B Redeemable Cumulative Preferred Stock [Member]
Organization and Business Operations [Line Items]
Preferred equity investment, dividend rate percentage			7.875%
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.01		$ 0.01
Preferred equity investment	$ 127,147,000		$ 127,147,000

Summary of Significant Accoun37

Summary of Significant Accounting Policies (Details) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015tenantsreal_estate_investmentmetropolitanshares	Sep. 30, 2014shares	Sep. 30, 2015USD ($)tenantsreal_estate_investmentmetropolitan$ / sharesshares	Sep. 30, 2014USD ($)$ / sharesshares
Summary of Significant Accounting Policies [Line Items]
Number of metropolitan statistical areas in which Company owns real estate investments | metropolitan	44		44
Number of Company owned real estate investments | real_estate_investment	48		48
Period of notice required for changes to share repurchase program			30 days
Maximum number of shares available for repurchase during any calendar year, as percentage of common stock outstanding at end of prior year			5.00%
Repurchase of common stock | $			$ 5,521	$ 2,837
Repurchase of common stock, average price per share (in dollars per share) | $ / shares			$ 9.57	$ 9.62
Diluted earnings per share outstanding adjustment (in shares)	17,000	17,000	19,000	19,000
Rental Revenue [Member] | Geographic Concentration Risk [Member]
Summary of Significant Accounting Policies [Line Items]
Number of metropolitan statistical areas in which Company owns real estate investments | metropolitan	4		4
Rental Revenue [Member] | Customer Concentration Risk [Member]
Summary of Significant Accounting Policies [Line Items]
Number of tenants | tenants	2		2
Dallas-Ft. Worth-Arlington, Texas MSA [Member] | Rental Revenue [Member] | Geographic Concentration Risk [Member]
Summary of Significant Accounting Policies [Line Items]
Concentration risk, percentage			13.80%
Chicago-Naperville-Elgin, Illinois-Indiana-Wisconsin MSA [Member] | Rental Revenue [Member] | Geographic Concentration Risk [Member]
Summary of Significant Accounting Policies [Line Items]
Concentration risk, percentage			12.10%
Atlanta-Sandy Springs-Roswell, Georgia MSA [Member] | Rental Revenue [Member] | Geographic Concentration Risk [Member]
Summary of Significant Accounting Policies [Line Items]
Concentration risk, percentage			10.10%
Houston-The Woodlands-Sugar Land, Texas MSA [Member] | Rental Revenue [Member] | Geographic Concentration Risk [Member]
Summary of Significant Accounting Policies [Line Items]
Concentration risk, percentage			10.60%
AT&T Services, Inc. [Member] | Rental Revenue [Member] | Customer Concentration Risk [Member]
Summary of Significant Accounting Policies [Line Items]
Concentration risk, percentage			13.20%
Bay Area Regional Medical Center, LLC [Member] | Rental Revenue [Member] | Customer Concentration Risk [Member]
Summary of Significant Accounting Policies [Line Items]
Concentration risk, percentage			10.40%
Common Stock [Member]
Summary of Significant Accounting Policies [Line Items]
Repurchase of common stock (in shares)			576,632	295,000
Repurchase of common stock | $			$ 6
Consolidated Partnerships [Member]
Summary of Significant Accounting Policies [Line Items]
Number of Company owned real estate investments | real_estate_investment	1		1

Real Estate Investments (Narrat

Real Estate Investments (Narrative) (Details) $ in Thousands	Jul. 08, 2015USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)real_estate_investment	Sep. 30, 2014USD ($)
Real Estate Properties [Line Items]
Purchase price		$ 137,427		$ 137,427
Real estate-related notes receivables converted to investment in real estate				13,674	$ 20,000
Cash paid for investments in real estate				123,753	952,950
Revenues				6,333
Net loss				463
Acquisition related expenses		0	$ 4,087	$ 3,654	$ 10,598
Bay Area Regional Medical Center [Member]
Real Estate Properties [Line Items]
Cost of remaining noncontrolling interests acquired	$ 102,475
Revolving credit agreement loan, outstanding principal and accrued interest paid off	$ 9,805
Maximum [Member]
Real Estate Properties [Line Items]
Acquisition fee and expense reimbursement, as percentage of purchase price of properties				6.00%
2015 Acquisitions [Member]
Real Estate Properties [Line Items]
Acquisition related expenses		$ 0		$ 3,478
Healthcare [Member] | 2015 Acquisitions [Member]
Real Estate Properties [Line Items]
Number of acquisitions | real_estate_investment				2

Real Estate Investments (Schedu

Real Estate Investments (Schedule of Business Combinations) (Details) - property		Apr. 20, 2015	Mar. 31, 2015	Jan. 15, 2015	Sep. 30, 2015
Business Acquisition [Line Items]
Number of Company owned properties					79
Landmark Hospital of Savannah [Member]
Business Acquisition [Line Items]
Date Acquired				Jan. 15, 2015
Ownership Percentage					100.00%
21st Century Oncology Portfolio [Member]
Business Acquisition [Line Items]
Date Acquired	[1]	Apr. 20, 2015	Mar. 31, 2015
Ownership Percentage					100.00%
Number of Company owned properties					20
Number of properties acquired		2	18
[1]	Portfolio consists of 20 real estate properties, 18 of which were purchased on March 31, 2015 and two of which were purchased on April 20, 2015.

Real Estate Investments (Sche40

Real Estate Investments (Schedule of Allocation of Fair Value of Business Combinations) (Details) $ in Thousands	Sep. 30, 2015USD ($)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Land	$ 19,469
Buildings and improvements	101,251
In-place leases	15,819
Tenant improvements	1,123
Above-market leases	635
Total assets acquired	138,297
Below-market leases	(870)
Total liabilities acquired	(870)
Net assets acquired	$ 137,427

Real Estate Investments (Sche41

Real Estate Investments (Schedule of Business Combinations on a Pro Forma Basis) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Pro forma basis:
Revenues	$ 48,714	$ 47,489	$ 155,842	$ 130,852
Net income	14,435	14,993	51,184	43,912
Net income attributable to common stockholders	$ 13,572	$ 13,841	$ 47,127	$ 41,475
Net income per common share attributable to common stockholders:
Basic (in dollars per share)	$ 0.08	$ 0.08	$ 0.27	$ 0.26
Diluted (in dollars per share)	$ 0.08	$ 0.08	$ 0.27	$ 0.26

Acquired Intangible Assets, N42

Acquired Intangible Assets, Net (Schedule of Acquired Intangible Assets, Net) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Acquired Intangible Assets, Net [Line Items]
Acquired intangible asset, net of accumulated amortization	$ 204,179	$ 204,436
Acquired intangible asset, accumulated amortization	$ 34,997	$ 21,759
Acquired intangible asset, weighted average remaining life	15 years	15 years 7 months 6 days
In-place leases [Member]
Acquired Intangible Assets, Net [Line Items]
Acquired intangible asset, net of accumulated amortization	$ 198,078	$ 198,635
Acquired intangible asset, accumulated amortization	$ 34,002	$ 21,099
Acquired intangible asset, weighted average remaining life	14 years 4 months 24 days	15 years 1 month 6 days
Above-market leases [Member]
Acquired Intangible Assets, Net [Line Items]
Acquired intangible asset, net of accumulated amortization	$ 3,457	$ 3,118
Acquired intangible asset, accumulated amortization	$ 825	$ 529
Acquired intangible asset, weighted average remaining life	11 years 2 months 12 days	11 years 4 months 24 days
Ground lease interest [Member]
Acquired Intangible Assets, Net [Line Items]
Acquired intangible asset, net of accumulated amortization	$ 2,644	$ 2,683
Acquired intangible asset, accumulated amortization	$ 170	$ 131
Acquired intangible asset, weighted average remaining life	60 years 7 months 6 days	61 years 2 months 12 days

Other Assets (Schedule of Other

Other Assets (Schedule of Other Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Other Assets [Abstract]
Deferred financing costs, net of accumulated amortization of $7,326 and $4,532, respectively	$ 10,793	$ 11,172
Lease commissions, net of accumulated amortization of $144 and $54, respectively	3,704	394
Investments in unconsolidated partnerships	99	106
Tenant receivable	4,248	3,361
Notes receivables	11,000	0
Straight-line rent receivable	41,353	25,566
Restricted cash held in escrow	13,696	13,382
Real estate escrow deposits	0	250
Restricted cash	661	734
Derivative assets	0	273
Prepaid and other assets	4,946	2,189
Total other assets	90,500	57,427
Deferred financing costs, accumulated amortization	7,326	4,532
Lease commissions, accumulated amortization	$ 144	$ 54

Future Minimum Rent (Schedule o

Future Minimum Rent (Schedule of Future Minimum Rental Income from Non-Cancelable Operating Leases) (Details) $ in Thousands	Sep. 30, 2015USD ($)
Leases [Abstract]
Three months ending December 31, 2015	$ 41,745
2,016	171,576
2,017	175,139
2,018	178,500
2,019	181,081
Thereafter	1,814,128
Total	$ 2,562,169

Notes Payable and Unsecured C45

Notes Payable and Unsecured Credit Facility (Narrative) (Details)	9 Months Ended
	Sep. 30, 2015USD ($)tenantsloanlenders	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Debt Instrument [Line Items]
Proceeds from notes payable	$ 64,305,000	$ 191,466,000
Number of tenants in violation of financial covenants | tenants	2
Proceeds from credit facility	$ 235,000,000	20,000,000
Payments on credit facility	27,000,000	$ 97,000,000
Total unencumbered pool availability	458,975,000
Remaining aggregate unencumbered pool availability	175,975,000
AT&T California Data Center Loan [Member]
Debt Instrument [Line Items]
Proceeds from notes payable	$ 37,000,000
Debt instrument, variable rate basis	30-day London interbank offered rate
Notes payable, maturity date	Feb. 26, 2019
Notes payable, fixed interest rate through interest rate swap agreement	3.70%
AT&T California Data Center Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.25%
AT&T Tennessee Data Center Loan [Member]
Debt Instrument [Line Items]
Proceeds from notes payable	$ 27,305,000
Debt instrument, variable rate basis	30-day LIBOR rate
Notes payable, maturity date	Dec. 10, 2018
Notes payable, fixed interest rate through interest rate swap agreement	3.50%
AT&T Tennessee Data Center Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.25%
Unsecured Credit Facility [Member]
Debt Instrument [Line Items]
Number of lenders added to credit facility | lenders	6
Credit facility, maximum commitments available	$ 475,000,000		$ 365,000,000
Credit facility, maximum commitments available after available increase	500,000,000
Unsecured Credit Facility [Member] | Revolving Line Of Credit [Member]
Debt Instrument [Line Items]
Credit facility, maximum commitments available	$ 400,000,000
Credit facility, maturity date	May 28, 2017
Credit facility, available extension period	12 months
Unsecured Credit Facility [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Credit facility, maximum commitments available	$ 75,000,000
Credit facility, maturity date	May 28, 2018
Credit facility, available extension period	12 months
Unsecured Term Loan Facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum commitments available	$ 135,000,000
Credit facility, maturity date	Aug. 21, 2020
Credit facility, maximum commitments available after available increase	$ 300,000,000
Unsecured Term Loan Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.75%
Unsecured Term Loan Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.25%
Unsecured Term Loan Facility [Member] | Base Rate [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.75%
Unsecured Term Loan Facility [Member] | Base Rate [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.25%
Variable Rate Debt, Subject To Interest Rate Swap [Member]
Debt Instrument [Line Items]
Number of notes payable | loan	7

Notes Payable and Unsecured C46

Notes Payable and Unsecured Credit Facility (Schedule of Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Notes payable:
Notes payable	$ 546,597	$ 490,909
Unsecured credit facility:
Credit facility	283,000	75,000
Total debt outstanding	829,597	565,909
Fixed Rate [Member]
Notes payable:
Notes payable	132,010	134,271
Variable Rate Debt, Subject To Interest Rate Swap [Member]
Notes payable:
Notes payable	371,106	206,162
Unsecured credit facility:
Credit facility	55,000	55,000
Variable Rate [Member]
Notes payable:
Notes payable	43,481	150,476
Unsecured credit facility:
Credit facility	228,000	20,000
Revolving Line Of Credit [Member]
Unsecured credit facility:
Credit facility	73,000	0
Term Loan [Member]
Unsecured credit facility:
Credit facility	$ 210,000	$ 75,000

Notes Payable and Unsecured C47

Notes Payable and Unsecured Credit Facility (Schedule of Future Principal Payments Due on Debt) (Details) - USD ($) $ in Thousands		Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Three months ending December 31, 2015		$ 3,278
2,016		26,448
2,017		265,430
2,018		150,588
2,019		197,691
Thereafter		186,162
Total debt outstanding		829,597	$ 565,909
Principal Payments [Member]
Debt Instrument [Line Items]
Three months ending December 31, 2015		3,278
2,016		13,007
2,017		12,378
2,018		10,454
2,019		3,548
Thereafter		2,540
Total debt outstanding		45,205
Balloon Payments [Member]
Debt Instrument [Line Items]
Three months ending December 31, 2015	[1]	0
2,016	[1]	13,441
2,017	[1]	253,052
2,018	[1]	140,134
2,019	[1]	194,143
Thereafter	[1]	183,622
Total debt outstanding	[1]	$ 784,392
[1]	Includes the unsecured credit facility.

Intangible Lease Liabilities,48

Intangible Lease Liabilities, Net (Schedule of Intangible Lease Liabilities, Net) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Intangible Lease Liabilities, Net [Abstract]
Below-market leases, net of accumulated amortization of $14,700 and $10,721, respectively (with a weighted average remaining life of 17.1 years and 17.5 years, respectively)	$ 52,297	$ 55,406
Ground leasehold liabilities, net of accumulated amortization of $146 and $53, respectively (with a weighted average remaining life of 43.4 years and 44.1 years, respectively)	5,179	5,272
Total intangible lease liabilities, net	57,476	60,678
Below-market leases, accumulated amortization	$ 14,700	$ 10,721
Below-market leases, weighted average remaining life	17 years 1 month 6 days	17 years 6 months
Ground leasehold liabilities, accumulated amortization	$ 146	$ 53
Ground leasehold liabilities, weighted average remaining life	43 years 4 months 24 days	44 years 1 month 6 days
Intangible lease liabilities, weighted average remaining life	19 years 4 months 24 days	19 years 9 months 18 days

Commitments and Contingencies (

Commitments and Contingencies (Details)	Sep. 30, 2015case
Commitments and Contingencies Disclosure [Abstract]
Number of material pending legal proceedings to which the Company is a party	0

Related-Party Transactions an50

Related-Party Transactions and Arrangements (Narrative) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)employee	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)employeeproperty	Sep. 30, 2014USD ($)
Related Party Transaction [Line Items]
Asset management fees incurred	$ 4,708,000	$ 4,078,000	$ 13,274,000	$ 9,538,000
Number of direct employees | employee	0		0
Cumulative non-compounded annual return rate to investors, as a percent			8.00%
Carter/Validus Advisors, LLC [Member]
Related Party Transaction [Line Items]
Acquisition fee, as percentage of contract purchase price of each property or asset acquired			2.00%
Acquisition fee, as percentage of amount advanced on mortgage loan			2.00%
Annual asset management fee, as percentage of aggregate asset value plus costs and expenses incurred by Advisor			0.85%
Monthly asset management fee, as percentage of aggregate asset value as of the last day of the immediately preceding month			0.07083%
Asset management fees incurred	$ 4,708,000	4,078,000	$ 13,274,000	9,538,000
Operating expenses allocated to the Company by the advisor	376,000	410,000	$ 941,000	1,279,000
Percentage of remaining net sales proceeds Advisor will receive after investors receive return			15.00%
Carter/Validus Advisors, LLC And/Or Its Affiliates [Member]
Related Party Transaction [Line Items]
Acquisition fees incurred related to investments in real estate	0	9,379,000	$ 2,748,000	18,684,000
Acquisition fees incurred related to investments in real estate-related notes receivables	0	136,000	$ 5,000	293,000
Minimum number of properties required to be sold to incur brokerage commission | property			1
Maximum brokerage commission paid by Company, as percentage of contract sales price			6.00%
Disposition fees incurred	0	0	$ 0	0
Subordinated participation in net sale proceeds	0	0	$ 0	0
Listing fee percentage			15.00%
Listing fees incurred	0	0	$ 0	0
Carter/Validus Advisors, LLC And/Or Its Affiliates [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Disposition fee, as percentage of contract sales price			1.00%
Percentage of brokerage commission paid by Company for properties sold that required a substantial amount of services			50.00%
Carter Validus Real Estate Management Services, LLC [Member]
Related Party Transaction [Line Items]
Leasing and management fees, as percentage of gross revenues from single-tenant properties			3.00%
Leasing and management fees, as percentage of gross revenues from multi-tenant properties			4.00%
Oversight fee, as percentage of gross revenues from properties managed			1.00%
Property management fees incurred	$ 1,139,000	$ 936,000	$ 3,585,000	$ 2,328,000

Related-Party Transactions An51

Related-Party Transactions And Arrangements (Schedule of Accounts Payable Due to Affiliates) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Accounts payable due to affiliates	$ 2,192	$ 1,833
Carter/Validus Advisors, LLC And/Or Its Affiliates [Member] | Asset Management Fees [Member]
Related Party Transaction [Line Items]
Accounts payable due to affiliates	1,575	1,307
Carter/Validus Advisors, LLC And/Or Its Affiliates [Member] | General, Administrative and Other Costs [Member]
Related Party Transaction [Line Items]
Accounts payable due to affiliates	235	141
Carter Validus Real Estate Management Services, LLC [Member] | Property Management Fees [Member]
Related Party Transaction [Line Items]
Accounts payable due to affiliates	$ 382	$ 385

Segment Reporting (Narrative) (

Segment Reporting (Narrative) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)segment	Sep. 30, 2014USD ($)
Segment Reporting Information [Line Items]
Number of reportable business segments | segment			2
Revenues	$ 48,714,000	$ 42,393,000	$ 153,168,000	$ 103,720,000
Intersegment Elimination [Member]
Segment Reporting Information [Line Items]
Revenues	$ 0	$ 0	$ 0	$ 0

Segment Reporting (Schedule of

Segment Reporting (Schedule of Information for Reportable Segments) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting Information [Line Items]
Rental and parking expenses	$ (6,409)	$ (6,108)	$ (21,092)	$ (14,429)
Income from operations	19,459	13,707	61,622	34,668
Real estate-related notes receivables interest income (expense)	18	(257)	373	2,174
General and administrative expenses	(1,609)	(1,411)	(4,469)	(3,212)
Change in fair value of contingent consideration	(160)	0	(460)	0
Acquisition related expenses	0	(4,087)	(3,654)	(10,598)
Asset management fees	(4,708)	(4,078)	(13,274)	(9,538)
Depreciation and amortization	(16,369)	(13,002)	(48,597)	(31,275)
Other income	2,709	277	5,828	477
Interest expense	(7,733)	(5,478)	(21,043)	(13,905)
Net income	14,435	8,506	46,407	21,240
Operating Segments [Member]
Segment Reporting Information [Line Items]
Rental, parking and tenant reimbursement revenue	48,696	42,650	152,795	101,546
Rental and parking expenses	(6,409)	(6,108)	(21,092)	(14,429)
Income from operations	42,287	36,542	131,703	87,117
Operating Segments [Member] | Data Centers [Member]
Segment Reporting Information [Line Items]
Rental, parking and tenant reimbursement revenue	28,407	24,752	86,226	60,569
Rental and parking expenses	(4,847)	(5,123)	(15,287)	(12,104)
Income from operations	23,560	19,629	70,939	48,465
Operating Segments [Member] | Healthcare [Member]
Segment Reporting Information [Line Items]
Rental, parking and tenant reimbursement revenue	20,289	17,898	66,569	40,977
Rental and parking expenses	(1,562)	(985)	(5,805)	(2,325)
Income from operations	$ 18,727	$ 16,913	$ 60,764	$ 38,652

Segment Reporting (Schedule o54

Segment Reporting (Schedule of Assets by Reportable Segments) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets by segment [Line Items]
Total assets	$ 2,399,645	$ 2,190,842
Operating Segments [Member] | Data Centers [Member]
Assets by segment [Line Items]
Total assets	1,110,250	1,130,131
Operating Segments [Member] | Healthcare [Member]
Assets by segment [Line Items]
Total assets	1,115,858	933,257
All Other [Member]
Assets by segment [Line Items]
Total assets	$ 173,537	$ 127,454

Segment Reporting (Schedule o55

Segment Reporting (Schedule of Capital Additions and Acquisitions by Reportable Segments) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Capital additions and acquisitions by segment [Line Items]
Total capital additions and acquisitions	$ 181,605	$ 986,024
Operating Segments [Member] | Data Centers [Member]
Capital additions and acquisitions by segment [Line Items]
Total capital additions and acquisitions	2,793	438,539
Operating Segments [Member] | Healthcare [Member]
Capital additions and acquisitions by segment [Line Items]
Total capital additions and acquisitions	$ 178,812	$ 547,485

Preferred Equity Investment (De

Preferred Equity Investment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Preferred Equity Investment [Line Items]
Preferred equity investment, aggregate amount invested			$ 127,147	$ 0
Preferred equity investment, dividend income	$ 2,709	$ 277	5,828	$ 477
Series B Redeemable Cumulative Preferred Stock [Member] | Private Real Estate Corporation [Member]
Preferred Equity Investment [Line Items]
Preferred equity investment, aggregate amount invested			$ 127,147
Preferred equity investment, dividend rate percentage			7.875%
Preferred equity investment, principal amount	125,000		$ 125,000
Preferred equity investment, origination costs	2,772		2,772
Preferred equity investment, closing fee	625		625
Preferred equity investment, dividend income	$ 2,461		$ 5,359

Fair Value (Narrative) (Details

Fair Value (Narrative) (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Fair Value [Line Items]
Preferred equity investment, carrying value	$ 127,147,000	$ 0
Notes payable, carrying value	546,597,000	490,909,000
Credit facility, carrying value	283,000,000	75,000,000
Contingent consideration obligations, fair value and carrying value	7,030,000	6,570,000
Contingent consideration obligations, maximum payout	9,069,000
Contingent consideration obligations, minimum payout	0
Fixed Rate [Member]
Fair Value [Line Items]
Notes payable, carrying value	132,010,000	134,271,000
Variable Rate Debt, Subject To Interest Rate Swap [Member]
Fair Value [Line Items]
Notes payable, carrying value	371,106,000	206,162,000
Credit facility, carrying value	55,000,000	55,000,000
Variable Rate [Member]
Fair Value [Line Items]
Notes payable, carrying value	43,481,000	150,476,000
Credit facility, carrying value	228,000,000	20,000,000
Significant Other Observable Inputs (Level 2) [Member] | Estimated Fair Value [Member] | Fixed Rate [Member]
Fair Value [Line Items]
Notes payable, fair value disclosure	132,700,000	134,837,000
Significant Other Observable Inputs (Level 2) [Member] | Estimated Fair Value [Member] | Variable Rate Debt, Subject To Interest Rate Swap [Member]
Fair Value [Line Items]
Notes payable, fair value disclosure	366,062,000	208,889,000
Credit facility, fair value disclosure	$ 51,422,000	$ 50,505,000

Fair Value (Schedule of Fair Va

Fair Value (Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets:
Derivative assets	$ 0	$ 273
Liabilities:
Derivative liabilities	(6,494)	(1,808)
Contingent consideration obligations	(7,030)	(6,570)
Recurring Basis [Member]
Assets:
Derivative assets	0	273
Total assets at fair value	0	273
Liabilities:
Derivative liabilities	(6,494)	(1,808)
Contingent consideration obligations	(7,030)	(6,570)
Total liabilities at fair value	(13,524)	(8,378)
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Recurring Basis [Member]
Assets:
Derivative assets	0	0
Total assets at fair value	0	0
Liabilities:
Derivative liabilities	0	0
Contingent consideration obligations	0	0
Total liabilities at fair value	0	0
Significant Other Observable Inputs (Level 2) [Member] | Recurring Basis [Member]
Assets:
Derivative assets	0	273
Total assets at fair value	0	273
Liabilities:
Derivative liabilities	(6,494)	(1,808)
Contingent consideration obligations	0	0
Total liabilities at fair value	(6,494)	(1,808)
Significant Unobservable Inputs (Level 3) [Member] | Recurring Basis [Member]
Assets:
Derivative assets	0	0
Total assets at fair value	0	0
Liabilities:
Derivative liabilities	0	0
Contingent consideration obligations	(7,030)	(6,570)
Total liabilities at fair value	$ (7,030)	$ (6,570)

Fair Value (Schedule of Reconci

Fair Value (Schedule of Reconciliation of Fair Value of Recurring Level 3 Fair Value Measurements) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		$ 6,870	$ 5,030	$ 6,570	$ 0
Additions to contingent consideration obligations		0	0	0	5,030
Total changes in fair value included in earnings		160	0	460	0
Ending balance		7,030	5,030	7,030	5,030
Unrealized losses still held	[1]	$ 160	$ 0	$ 460	$ 0
[1]	Represents the unrealized losses recorded in earnings or other comprehensive income (loss) during the period for liabilities classified as Level 3 that are still held at the end of the period.

Derivative Instruments and He60

Derivative Instruments and Hedging Activities (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gain (loss) recognized due to ineffectiveness of hedges of interest rate risk	$ 0	$ 0	$ 0	$ 0
Additional amount expected to be reclassified from AOCI into earnings during next twelve months	4,257,000		4,257,000
Fair value of derivatives in a net liability position	$ 7,285,000		$ 7,285,000

Derivative Instruments and He61

Derivative Instruments and Hedging Activities (Schedule of the Notional Amount and Fair Value of Derivative Instruments) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015		Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Fair Value of Asset	$ 0		$ 273
Fair Value of (Liability)	(6,494)		(1,808)
Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Outstanding Notional Amount	426,106		261,162
Other Assets [Member] | Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Fair Value of Asset	0		273	[1]
Accounts Payable and Other Liabilities [Member] | Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Fair Value of (Liability)	$ (6,494)	[2]	(1,808)	[3]
Minimum [Member] | Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Effective Dates	Oct. 12, 2012
Maturity Dates	Oct. 11, 2017
Maximum [Member] | Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Effective Dates	Aug. 3, 2015
Maturity Dates	Jul. 11, 2019
Parent [Member]
Derivatives, Fair Value [Line Items]
Fair Value of Asset			273
Fair Value of (Liability)	$ (6,494)		(1,434)
Noncontrolling Interests [Member]
Derivatives, Fair Value [Line Items]
Fair Value of (Liability)			$ (374)
[1]	Of this amount, $273,000 related to controlling interests.
[2]	Of this amount, $(6,494,000) related to controlling interests.
[3]	Of this amount, $(1,434,000) related to controlling interests and $(374,000) related to noncontrolling interests.

Derivative Instruments and He62

Derivative Instruments and Hedging Activities (Schedule of Gains or Losses Recognized on Derivative Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss Recognized in OCI on Derivatives (Effective Portion)	$ (5,246)	$ (59)	$ (7,999)	$ (2,513)
Amount of Loss Reclassified From Accumulated Other Comprehensive Loss to Net Income (Effective Portion)	(1,215)	(841)	(3,040)	(1,787)
Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss Recognized in OCI on Derivatives (Effective Portion)	(5,246)	(59)	(7,999)	(2,513)
Interest Rate Swaps [Member] | Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss Reclassified From Accumulated Other Comprehensive Loss to Net Income (Effective Portion)	$ (1,215)	$ (841)	$ (3,040)	$ (1,787)

Derivative Instruments and He63

Derivative Instruments and Hedging Activities (Schedule of Offsetting of Derivative Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gross Amounts of Recognized Assets	$ 0	$ 273
Gross Amounts Offset in the Balance Sheet	0	0
Net Amounts of Assets Presented in the Balance Sheet	0	273
Gross Amounts Not Offset in the Balance Sheet, Financial Instruments Collateral	0	0
Gross Amounts Not Offset in the Balance Sheet, Cash Collateral	0	0
Net Amount	$ 0	$ 273

Derivative Instruments and He64

Derivative Instruments and Hedging Activities (Schedule of Offsetting of Derivative Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gross Amounts of Recognized Liabilities	$ 6,494	$ 1,808
Gross Amounts Offset in the Balance Sheet	0	0
Net Amounts Of Liabilities Presented in the Balance Sheet	6,494	1,808
Gross Amounts Not Offset in the Balance Sheet, Financial Instruments Collateral	0	0
Gross Amounts Not Offset in the Balance Sheet, Cash Collateral	0	0
Net Amount	$ 6,494	$ 1,808

Accumulated Other Comprehensi65

Accumulated Other Comprehensive Loss (Schedule of Amounts Recognized in Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance as of December 31, 2014			$ (1,161)
Other comprehensive loss before reclassification			(7,661)
Amount of loss reclassified from accumulated other comprehensive loss to net income (effective portion)			2,808
Other comprehensive (loss) income attributable to common stockholders	$ (4,017)	$ 782	(4,853)	$ (726)
Purchase of noncontrolling interests			(480)
Balance as of September 30, 2015	(6,494)		(6,494)
Unrealized Loss On Derivative Instruments [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance as of December 31, 2014			(1,161)
Other comprehensive loss before reclassification			(7,661)
Amount of loss reclassified from accumulated other comprehensive loss to net income (effective portion)			2,808
Other comprehensive (loss) income attributable to common stockholders			(4,853)
Purchase of noncontrolling interests			0
Balance as of September 30, 2015	$ (6,014)		$ (6,014)

Accumulated Other Comprehensi66

Accumulated Other Comprehensive Loss (Schedule of Reclassifications Out of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Reclassification Adjustment Out Of Accumulated Other Comprehensive Loss [Line Items]
Interest expense	$ 7,733	$ 5,478	$ 21,043	$ 13,905
Reclassification Out Of Accumulated Other Comprehensive Loss [Member] | Unrealized Loss On Derivative Instruments [Member] | Interest Rate Swaps [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Loss [Line Items]
Interest expense			$ 3,040

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands	Nov. 05, 2015	Nov. 02, 2015	Oct. 01, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Subsequent Event [Line Items]
Distributions paid in cash						$ 42,407	$ 30,312
Common stock issued through distribution reinvestment plan						$ 50,720	$ 33,684
Distributions declared per common share (in dollars per share)				$ 0.18	$ 0.18	$ 0.52	$ 0.52
Subsequent Event [Member] | September 1, 2015 To September 30, 2015 [Member]
Subsequent Event [Line Items]
Aggregate distributions paid			$ 10,348
Distributions paid in cash			4,716
Common stock issued through distribution reinvestment plan			$ 5,632
Subsequent Event [Member] | October 1, 2015 To October 31, 2015 [Member]
Subsequent Event [Line Items]
Aggregate distributions paid		$ 10,722
Distributions paid in cash		4,901
Common stock issued through distribution reinvestment plan		$ 5,821
Subsequent Event [Member] | December 1, 2015 To December 31, 2015 [Member]
Subsequent Event [Line Items]
Number of days, distribution calculation	365 days
Distributions declared per common share (in dollars per share)	$ 0.001917808
Annualized distribution rate, as a percent	7.00%
Assumed purchase price per share (in dollars per share)	$ 10
Subsequent Event [Member] | January 1, 2016 To February 29, 2016 [Member]
Subsequent Event [Line Items]
Number of days, distribution calculation	366 days
Distributions declared per common share (in dollars per share)	$ 0.001912568
Annualized distribution rate, as a percent	7.00%
Assumed purchase price per share (in dollars per share)	$ 10