Physicians Realty Trust 10-K 29 Feb 16 2015 Q4 Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Feb. 22, 2016	Jun. 30, 2015
Document And Entity Information
Entity Registrant Name	Physicians Realty Trust
Entity Central Index Key	1,574,540
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q4
Amendment Flag	false
Entity Common Stock, Shares Outstanding		108,596,965
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 1,081,225,866

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Investment properties:
Land and improvements	$ 130,788	$ 79,334
Building and improvements	1,284,863	644,086
Tenant improvements	9,243	5,614
Acquired lease intangibles	205,168	72,985
Gross real estate property	1,630,062	802,019
Accumulated depreciation	(91,250)	(45,569)
Net real estate property	1,538,812	756,450
Real estate loans receivable	39,349	15,876
Investment in unconsolidated entity	1,322	1,324
Net real estate investments	1,579,483	773,650
Cash and cash equivalents	3,143	15,923
Tenant receivables, net	2,977	1,324
Deferred costs, net	7,037	4,870
Other assets	52,231	15,806
Total assets	1,644,871	811,573
Liabilities:
Credit facility	395,000	138,000
Mortgage debt	94,600	78,105
Accounts payable	644	700
Dividends payable	20,783	16,548
Accrued expenses and other liabilities	24,473	6,140
Acquired lease intangibles, net	5,950	2,871
Total liabilities	541,450	242,364
Redeemable noncontrolling interest – Operating Partnership and partially owned properties	26,960	0
Equity:
Common shares, $0.01 par value, 500,000,000 common shares authorized, 86,864,063 and 50,640,863 common shares issued and outstanding as of December 31, 2015 and December 31, 2014, respectively.	872	510
Additional paid-in capital	1,129,284	586,017
Accumulated deficit	(109,024)	(51,797)
Total shareholders’ equity	1,021,132	534,730
Noncontrolling interests:
Operating Partnership	45,451	33,727
Partially owned properties	9,878	752
Total noncontrolling interests	55,329	34,479
Total equity	1,076,461	569,209
Total liabilities and equity	$ 1,644,871	$ 811,573

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common stock, shares outstanding (in shares)	86,864,063	50,640,863
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	86,864,063	50,640,863

Consolidated and Combined State

Consolidated and Combined Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues:
Rental revenues	$ 103,974	$ 46,397	$ 13,565
Expense recoveries	21,587	5,871	3,234
Interest income on real estate loans and other	3,880	1,066	246
Total revenues	129,441	53,334	17,045
Expenses:
Interest expense	10,636	6,907	4,295
General and administrative	14,908	11,440	3,214
Operating expenses	31,026	10,154	4,650
Depreciation and amortization	45,471	16,731	5,107
Acquisition expenses	14,893	10,897	1,938
Management fees	0	0	475
Impairment loss	0	1,750	0
Total expenses	116,934	57,879	19,679
Income (loss) before equity in income of unconsolidated entity, gain (loss) on sale of investment properties and noncontrolling interests:	12,507	(4,545)	(2,634)
Equity in income of unconsolidated entity	104	95	0
Gain (loss) on sale of investment properties	130	32	(2)
Net income (loss)	12,741	(4,418)	(2,636)
Net (income) loss attributable to noncontrolling interests:
Predecessor	0	0	576
Operating Partnership	(576)	695	470
Partially owned properties	(377)	(314)	(71)
Net income (loss) attributable to controlling interest	11,788	(4,037)	(1,661)
Preferred distributions	(1,189)	0	0
Net income (loss) attributable to common shareholders	$ 10,599	$ (4,037)	$ (1,661)
Net income (loss) per share:
Basic (in dollars per share)	$ 0.15	$ (0.12)	$ (0.13)
Diluted (in dollars per share)	$ 0.15	$ (0.12)	$ (0.13)
Weighted average common shares:
Basic (in shares)	72,750,724	33,063,093	12,883,917
Diluted (in shares)	76,792,073	33,063,093	12,883,917
Dividends and distributions declared per common share and unit (in dollars per share)	$ 0.9	$ 0.9	$ 0.41

Consolidated and Combined Stat5

Consolidated and Combined Statement of Equity - USD ($) $ in Thousands	Total	Par Value	Additional Paid in Capital	Accumulated Deficit	Predecessor Equity	Total Shareholders’ and Predecessor Equity	Operating Partnership Noncontrolling interest	Partially Owned Properties Noncontrolling Interest	Total Non- Controlling Interests
Balance (Predecessor) at Dec. 31, 2012	$ 19,097				$ 19,068	$ 19,068		$ 29	$ 29
Increase (Decrease) in Partners' Capital [Roll Forward]
Net (loss) income | Predecessor	(576)				(712)	(712)		136	136
Transfer | Predecessor					36	36		(36)	(36)
Distributions | Predecessor	(420)				(211)	(211)		(209)	(209)
Balance (Predecessor) at Jul. 24, 2013	18,101				18,181	18,181		(80)	(80)
Balance (Predecessor) at Dec. 31, 2012	19,097				19,068	19,068		29	29
Increase (Decrease) in stockholders' Equity
Net income	(2,636)
Preferred distributions	0
Balance at Dec. 31, 2013	240,837	$ 215	$ 213,359	$ (8,670)		204,904	$ 35,310	623	35,933
Balance (Predecessor) at Jul. 24, 2013	18,101				18,181	18,181		(80)	(80)
Increase (Decrease) in stockholders' Equity
Net proceeds from sale of common shares	225,920	213	225,707			225,920
Formation transactions	(354)		35		$ (18,181)	(18,146)	18,181	(389)	17,792
Restricted share award grants	433	2	431			433
Dividends declared	(8,335)			(7,009)		(7,009)	(1,326)		(1,326)
Adjustment for noncontrolling interests ownership in Operating Partnership			(7,391)			(7,391)	7,391		7,391
Contributions	7,387		(5,423)			(5,423)	11,534	1,276	12,810
Distributions	(255)							(255)	(255)
Net income	(2,060)			(1,661)		(1,661)	(470)	71	(399)
Balance at Dec. 31, 2013	240,837	215	213,359	(8,670)		204,904	35,310	623	35,933
Increase (Decrease) in stockholders' Equity
Net proceeds from sale of common shares	350,385	272	350,113			350,385
Restricted share award grants	2,060	2	2,100	(42)		2,060
Issuance of common shares in connection with the Ziegler shared service amendment payment	1,800	1	1,799			1,800
Dividends declared	(42,313)			(39,048)		(39,048)	(3,265)		(3,265)
Adjustment for noncontrolling interests ownership in Operating Partnership			5,380			5,380	(5,380)		(5,380)
Distributions	(185)							(185)	(185)
Net income	(4,418)			(4,037)		(4,037)	(695)	314	(381)
Purchase of OP Units	(7,546)						(7,546)		(7,546)
Conversion of OP Units		20	13,266			13,286	(13,286)		(13,286)
Preferred distributions	0
Issuance of OP Units in connection with acquisitions	28,589						28,589		28,589
Balance at Dec. 31, 2014	569,209	510	586,017	(51,797)		534,730	33,727	752	34,479
Increase (Decrease) in stockholders' Equity
Net proceeds from sale of common shares	545,117	361	544,756			545,117
Restricted share award grants	2,908	1	3,191	(284)		2,908
Dividends declared	(70,886)			(67,542)		(67,542)	(3,344)		(3,344)
Adjustment for noncontrolling interests ownership in Operating Partnership	0		(4,778)			(4,778)	4,778		4,778
Contributions	8,962							8,962	8,962
Distributions	(213)							(213)	(213)
Net income	12,741			11,788		11,788	576	377	953
Purchase of OP Units	(1,088)						(1,088)		(1,088)
Conversion of OP Units	0		171			171	(171)		(171)
Preferred distributions	(1,189)			(1,189)		(1,189)
Issuance of OP Units in connection with acquisitions	10,973						10,973		10,973
Change in market value of Redeemable Noncontrolling Interest in Operating Partnership	(73)		(73)			(73)
Balance at Dec. 31, 2015	$ 1,076,461	$ 872	$ 1,129,284	$ (109,024)		$ 1,021,132	$ 45,451	$ 9,878	$ 55,329

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash Flows from Operating Activities:
Net income (loss)	$ 12,741	$ (4,418)	$ (2,636)
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depreciation and amortization	45,471	16,731	5,107
Amortization of deferred financing costs	1,373	1,097	510
Amortization of lease inducements and above/below market lease intangibles	2,577	571	141
Straight-line rental revenue/expense	(9,000)	(4,366)	(675)
Amortization of above market assumed debt	(173)	0	0
(Gain) loss on sale of investment properties	(130)	(32)	2
Equity in income of unconsolidated entity	(104)	(95)	0
Distribution from unconsolidated entity	106	71	0
Change in fair value of derivatives	(166)	(161)	(246)
Provision for bad debts	69	9	30
Non-cash share compensation	3,798	2,422	433
Ziegler shared service amendment payment	0	1,800	0
Impairment on investment properties	0	1,750	0
Change in operating assets and liabilities:
Tenant receivables	(2,836)	(986)	(184)
Other assets	(630)	(3,518)	(1,074)
Accounts payable to related parties	0	0	(1,530)
Accounts payable	(56)	(136)	34
Accrued expenses and other liabilities	8,312	2,556	1,256
Net cash provided by operating activities	61,352	13,295	1,168
Cash Flows from Investing Activities:
Proceeds on sales of investment properties	3,039	235	448
Acquisition of investment properties, net	(752,807)	(501,127)	(125,728)
Capital expenditures on existing investment properties	(4,988)	(900)	0
Pay down of contingent consideration	(999)	0	0
Real estate loans receivable	(22,359)	(15,386)	0
Note receivable	(20,545)	0	0
Leasing commissions	(579)	(100)	(163)
Lease inducements	(2,478)	(1,532)	(1,000)
Net cash used in investing activities	(801,716)	(518,810)	(126,443)
Cash Flows from Financing Activities:
Net proceeds from sale of common shares	545,117	350,384	225,920
Formation transactions	0	0	(354)
Proceeds from credit facility borrowings	620,000	395,200	52,350
Payment on credit facility borrowings	(363,000)	(257,200)	(52,350)
Proceeds from issuance of mortgage debt	0	26,550	162
Principal payments on mortgage debt	(2,022)	(6,549)	(41,832)
Debt issuance costs	(3,105)	(3,887)	(1,428)
Dividends paid – shareholders	(63,720)	(28,104)	(2,161)
Distributions to noncontrolling interest – Operating Partnership	(3,216)	(3,382)	(493)
Distributions to members and partners	(563)	0	(211)
Distributions to noncontrolling interest – partially owned properties	(213)	(185)	(464)
Purchase of OP Units	(1,088)	(7,546)	0
Common shares repurchased and retired	(606)	(321)	0
Net cash provided by financing activities	727,584	464,960	179,139
Net (decrease) increase in cash and cash equivalents	(12,780)	(40,555)	53,864
Cash and cash equivalents, beginning of period	15,923	56,478	2,614
Cash and cash equivalents, end of period	3,143	15,923	56,478
Supplemental disclosure of cash flow information – interest paid during the year	9,550	5,606	3,942
Supplemental disclosure of noncash activity – assumed debt	18,690	15,283	0
Supplemental disclosure of noncash activity – issuance of OP Units and Series A Preferred Units in connection with acquisitions	40,376	28,589	11,535
Supplemental disclosure of noncash activity – contingent consideration	$ 2,718	$ 840	$ 0

Organization and Business

Organization and Business	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	Note 1. Organization and Business Physicians Realty Trust (the “Trust”) was organized in the state of Maryland on April 9, 2013. As of December 31, 2015 , the Trust was authorized to issue up to 500,000,000 common shares of beneficial interest, par value $0.01 per share (“common shares”). The Trust filed a Registration Statement on Form S-11 with the Securities and Exchange Commission (the “Commission”) with respect to a proposed underwritten initial public offering (the “IPO”) and completed the IPO of its common shares and commenced operations on July 24, 2013. The Trust contributed the net proceeds from the IPO to Physicians Realty L.P. (the “Operating Partnership”), a Delaware limited partnership, and is the sole general partner of the Operating Partnership. The Trust’s operations are conducted through the Operating Partnership and wholly-owned and majority-owned subsidiaries of the Operating Partnership. The Trust, as the general partner of the Operating Partnership, controls the Operating Partnership and consolidates the assets, liabilities and results of operations of the Operating Partnership. The Trust is a self-managed real estate investment trust (“REIT”) formed primarily to acquire, selectively develop, own and manage healthcare properties that are leased to physicians, hospitals and healthcare delivery systems. Initial Public Offering and Formation Transactions Pursuant to the IPO, the Trust issued an aggregate of 11,753,597 common shares, including common shares issued upon exercise of the underwriters’ overallotment option, and received approximately $123.8 million of net proceeds (after deducting the underwriting discount and expenses of the IPO and the formation transactions payable by the Trust). The Trust contributed the net proceeds of the IPO to the Operating Partnership in exchange for 11,753,597 common units of partnership interest (“OP Units”) on July 24, 2013. Concurrently with the completion of the IPO, the Trust acquired, through a series of contribution transactions, the entities that own the 19 properties that comprised the Trust’s initial properties from four healthcare real estate funds (the “Ziegler Funds”), as well as certain operating assets and liabilities, including the assumption of approximately $84.3 million of debt related to such properties. The Trust determined that the Ziegler Funds constitute the Trust’s accounting predecessor (the “Predecessor”). The Predecessor, which is not a legal entity, is comprised of the four Ziegler Funds that owned directly or indirectly interests in entities that owned the initial 19 properties in the Trust’s portfolio. The combined historical data for the Predecessor is not necessarily indicative of the Trust’s future financial position or results of operations. In addition, at the completion of the IPO, the Trust entered into a shared services agreement with B.C. Ziegler & Company (“Ziegler”) pursuant to which Ziegler provided office space, IT support, accounting support and other services to the Trust in exchange for an annual fee. The Trust elected to terminate the shared services agreement effective July 23, 2015 in conjunction with completed renovations of the Renaissance Office Building. To acquire the ownership interests in the entities that own the 19 properties included in the Trust’s initial properties, and certain other operating assets and liabilities, from the Ziegler Funds, the Operating Partnership issued to the Ziegler Funds an aggregate of 2,744,000 OP Units, having an aggregate value of approximately $31.6 million based on the price per share to the public in the IPO. These formation transactions were effected concurrently with the completion of the IPO. Upon closing of the IPO, the Trust owned a 79.6% interest in the Operating Partnership. The Operating Partnership used a portion of the IPO proceeds received from the Trust to purchase the 50% interest in the Arrowhead Commons property not owned by the Ziegler Funds for approximately $850,000 , after which the Operating Partnership became the 100% owner of the property, and to pay certain expenses related to debt assumptions and the Trust’s former senior secured revolving credit facility. The balance of the net proceeds was subsequently invested in healthcare properties. Because the IPO and the formation transactions were completed on July 24, 2013, the Trust had no operations prior to that date. References in these notes to the consolidated and combined financial statements of Physicians Realty Trust signify the Trust for the period from July 24, 2013, the date of completion of the IPO and the formation transactions, and of the Predecessor for all prior periods. Equity Offerings On December 11, 2013, the Trust completed a public offering of 9,545,000 common shares, including 1,245,000 common shares issued upon exercise of the underwriters’ overallotment option, resulting in net proceeds to the Trust of approximately $103.1 million . The Trust contributed the net proceeds of this offering to the Operating Partnership in exchange for 9,545,000 OP Units, and the Operating Partnership used the net proceeds of the public offering to repay borrowings under the former senior secured revolving credit facility and for general corporate and working capital purposes and funding acquisitions. On May 27, 2014, the Trust completed a public offering of 12,650,000 common shares, including 1,650,000 common shares issued upon exercise of the underwriters’ overallotment option, resulting in net proceeds to the Trust of approximately $149.9 million . The Trust contributed the net proceeds of this offering to the Operating Partnership in exchange for 12,650,000 OP Units, and the Operating Partnership used the net proceeds of the public offering to repay borrowings under the former senior secured revolving credit facility and for general corporate and working capital purposes and funding acquisitions. On September 12, 2014, the Trust completed a public offering of 10,925,000 common shares, including 1,425,000 common shares issued upon exercise of the underwriters’ overallotment option, resulting in net proceeds to the Trust of approximately $145.7 million . The Trust contributed the net proceeds of this offering to the Operating Partnership in exchange for 10,925,000 OP Units, and the Operating Partnership used the net proceeds of the public offering to repay borrowings under the former senior secured revolving credit facility and for general corporate and working capital purposes and funding acquisitions. On January 21, 2015, the Trust completed a follow-on public offering of 18,975,000 common shares at $16.40 per share, including 2,475,000 common shares issued upon exercise of the underwriters’ overallotment option, resulting in net proceeds to the Trust of approximately $297.3 million . The Trust contributed the net proceeds of this offering to the Operating Partnership in exchange for 18,975,000 partnership interests in the Operating Partnership (“OP Units”), and the Operating Partnership used the net proceeds of the public offering to repay borrowings under the unsecured revolving credit facility and for general corporate purposes, including working capital and investment in real estate. On June 17, 2015, the Trust filed an automatic shelf registration statement on Form S-3 with the Commission covering an indeterminate amount of common shares, preferred shares, convertible shares, debt securities, convertible debt securities or other types of securities from time to time. On October 19, 2015, the Trust completed a follow-on public offering of 15,812,500 common shares at $15.00 per share, including 2,062,500 common shares issued upon exercise of the underwriters’ overallotment option, resulting in net proceeds to the Trust of approximately $226.8 million . The Trust contributed the net proceeds of this offering to the Operating Partnership in exchange for 15,812,500 OP Units, and the Operating Partnership used the net proceeds of the public offering to repay a portion of the outstanding indebtedness under the unsecured revolving credit facility and for general corporate purposes, including working capital and investment in real estate. On August 19, 2014, the Trust and the Operating Partnership entered into separate At Market Issuance Sales Agreements (the “Sales Agreements”) with each of MLV & Co. LLC, KeyBanc Capital Markets Inc., JMP Securities LLC, and RBC Capital Markets, LLC (the “Agents”), pursuant to which the Trust may issue and sell common shares having an aggregate offering price of up to $150 million , from time to time, through the Agents pursuant to a shelf registration statement on Form S-3 (the “ATM Program”). During 2015 and 2014, the Trust’s issuance and sale of common shares pursuant to the ATM Program is as follows (in thousands, except common shares and price): 2015 2014 Common shares sold Weighted average price Net proceeds Common shares sold Weighted average price Net proceeds Quarterly period ended March 31 247,397 $ 16.96 $ 4,139 — $ — $ — Quarterly period ended June 30 1,007,695 16.56 16,439 — — — Quarterly period ended September 30 — — — — — — Quarterly period ended December 31 — — — 3,576,010 15.54 54,789 Year ended December 31 1,255,092 $ 16.63 $ 20,578 3,576,010 $ 15.54 $ 54,789

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies Principles of Consolidation GAAP requires the Trust to identify entities for which control is achieved through means other than voting rights and to determine which business enterprise is the primary beneficiary of variable interest entities (“VIEs”). A VIE is broadly defined as an entity with one or more of the following characteristics: (a) the total equity investment at risk is insufficient to finance the entity’s activities without additional subordinated financial support; (b) as a group, the holders of the equity investment at risk lack (i) the ability to make decisions about the entity’s activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; or (c) the equity investors have voting rights that are not proportional to their economic interests, and substantially all of the entity’s activities either involve, or are conducted on behalf of, an investor that has disproportionately few voting rights. The Trust consolidates its investment in a VIE when it determines that it is its primary beneficiary. The Trust may change its original assessment of a VIE upon subsequent events such as the modification of contractual arrangements that affect the characteristics or adequacy of the entity’s equity investments at risk and the disposition of all or a portion of an interest held by the primary beneficiary. The Trust identifies the primary beneficiary of a VIE as the enterprise that has both: (i) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance; and (ii) the obligation to absorb losses or the right to receive benefits of the VIE that could be significant to the entity. The Trust performs this analysis on an ongoing basis. For property holding entities not determined to be VIEs, the Trust consolidates such entities in which the Trust or the Operating Partnership owns 100% of the equity or has a controlling financial interest evidenced by ownership of a majority voting interest. All intercompany balances and transactions are eliminated in consolidation. For entities in which the Trust owns less than 100% of the equity interest, the Trust consolidates the property if it has the direct or indirect ability to control the entities’ activities based upon the terms of the respective entities’ ownership agreements. For these entities, the Trust records a noncontrolling interest representing equity held by noncontrolling interests. Noncontrolling Interests The Trust presents the portion of any equity it does not own in entities that it controls (and thus consolidates) as noncontrolling interests and classifies such interests as a component of consolidated equity, separate from the Trust’s total shareholders’ equity, on the consolidated balance sheets. Operating Partnership: Net income or loss is allocated to noncontrolling interests based on their respective ownership percentage of the Operating Partnership. The ownership percentage is calculated by dividing the number of OP Units held by the noncontrolling interests by the total OP Units held by the noncontrolling interests and the Trust. Issuance of additional Common Shares and OP Units changes the ownership interests of both the noncontrolling interests and the Trust. Such transactions and the related proceeds are treated as capital transactions. In connection with the closing of the IPO, the Trust and the Operating Partnership completed related formation transactions pursuant to which the Operating Partnership acquired from the Ziegler Funds, the Ziegler Funds’ ownership interests in 19 medical office buildings located in ten states in exchange for an aggregate of 2,744,000 OP Units and the payment of approximately $36.9 million of debt related to such properties. During the year ended December 31, 2013, the Operating Partnership partially funded one property acquisition by issuing 954,877 OP Units valued at approximately $11.5 million on the date of issuance. The acquisition had a total purchase price of approximately $37.5 million. During the year ended December 31, 2014, the Operating Partnership partially funded five property acquisitions by issuing an aggregate of 2,042,313 OP Units valued at approximately $28.6 million on the date of issuance. The five acquisitions had a total purchase price of approximately $103.6 million . During the year ended December 31, 2015, the Operating Partnership partially funded three property acquisitions by issuing an aggregate of 648,649 OP Units valued at approximately $11.0 million on the date of issuance. The three acquisitions had a total purchase price of approximately $32.5 million. Noncontrolling interests in the Trust represent OP Units held by the Predecessor’s prior investors and other investors. As of December 31, 2015 , the Trust held a 95.7% interest in the Operating Partnership. As the sole general partner and the majority interest holder, the Trust consolidates the financial position and results of operation of the Operating Partnership. Holders of OP Units may not transfer their units without the Trust’s prior written consent, as general partner of the Operating Partnership. Beginning on the first anniversary of the issuance of OP Units, OP Unit holders may tender their units for redemption by the Operating Partnership in exchange for cash equal to the market price of the Trust’s common shares at the time of redemption or for unregistered common shares on a one -for-one basis. Such selection to pay cash or issue common shares to satisfy an OP Unit holder’s redemption request is solely within the control of the Trust. Accordingly, the Trust presents the OP Units of the Operating Partnership held by the Predecessor’s prior investors and other investors as noncontrolling interests within equity in the consolidated balance sheet. Partially Owned Properties: The Trust reflects noncontrolling interests in partially owned properties on the balance sheet for the portion of properties consolidated by the Trust that are not wholly owned by the Trust. The earnings or losses from those properties attributable to the noncontrolling interests are reflected as noncontrolling interests in partially owned properties in the consolidated and combined statement of operations. Redeemable Noncontrolling Interests - Operating Partnership and Partially Owned Properties On February 5, 2015, the Trust entered into a Second Amended and Restated Agreement of Limited Partnership (the “Partnership Agreement”) which provides for the designation and issuance of the newly designated Series A Participating Redeemable Preferred Units of the Operating Partnership (“Series A Preferred Units”). Series A Preferred Units have priority over all other partnership interests of the Operating Partnership with respect to distributions and liquidation. Holders of Series A Preferred Units are entitled to a 5% cumulative return and upon redemption, the receipt of one common share and $200 . The holders of the Series A Preferred Units have agreed not to cause the Operating Partnership to redeem their Series A Preferred Units prior to one year from the issuance date. In addition, Series A Preferred Units are redeemable at the option of the holders which redemption obligation may be satisfied, at the Trust’s option, in cash or registered common shares. Instruments that require settlement in registered common shares may not be classified in permanent equity as it is not always completely within an issuer’s control to deliver registered common shares. Due to the redemption rights associated with the Series A Preferred Units, the Trust classifies the Series A Preferred Units in the mezzanine section of its consolidated balance sheet. On February 5, 2015, the acquisition of the Minnetonka MOB was partially funded with the issuance of 44,685 Series A Preferred Units which are valued at $9.7 million . On December 17, 2015, the acquisition of the Nashville MOB was partially funded with the issuance of 91,236 Series A Preferred Units which are valued at $19.7 million . The Series A Preferred Units were evaluated for embedded features that should be bifurcated and separately accounted for as a freestanding derivative. The Trust determined that the Series A Preferred Units contained features that require bifurcation. The fair value of the embedded derivative is $8.1 million and is included on the Trust’s consolidated balance sheets in accrued expenses and other liabilities. In connection with the acquisition of the Minnetonka MOB, the Trust received a $5 million equity investment from a third party, effective March 1, 2015. This investment earns a 15% cumulative preferred return. At any point subsequent to the third anniversary of the investment, the holder can require the Trust to redeem the instrument at a price for which the investor will realize a 15% internal rate of return. Due to the redemption provision, which is outside of the control of the Trust, the Trust classifies the investment in the mezzanine section of its consolidated balance sheet. The Trust records the carrying amount of the redeemable noncontrolling interests at the greater of the carrying value or redemption value. Dividends and Distributions Declaration Date Record Date Payment Date Cash Dividend per Share/Unit December 31, 2015 January 15, 2016 January 29, 2016 $ 0.225 September 28, 2015 October 16, 2015 October 30, 2015 $ 0.225 July 1, 2015 July 17, 2015 July 31, 2015 $ 0.225 April 6, 2015 April 17, 2015 May 1, 2015 $ 0.225 December 30, 2014 January 23, 2015 February 6, 2015 $ 0.225 September 26, 2014 October 17, 2014 October 30, 2014 $ 0.225 June 26, 2014 July 18, 2014 August 1, 2014 $ 0.225 March 27, 2014 April 11, 2014 April 25, 2014 $ 0.225 December 30, 2013 January 24, 2014 February 7, 2014 $ 0.225 September 30, 2013 October 18, 2013 November 1, 2013 $ 0.180 (1) (1) Prorated cash dividend of $0.18 per share for the quarterly period from July 19, 2013 (the date of the IPO) through September 30, 2013, which was equivalent to a full quarterly dividend of $0.225 per share. The dividend was paid on November 1, 2013 to common shareholders and common OP Unit holders of record on October 18, 2013, with the exception of the OP Units issued in the acquisition of Crescent City Surgical Centre. Purchase of Investment Properties A property acquired not subject to an existing lease is treated as an asset acquisition and recorded at its purchase price, inclusive of acquisition costs, allocated between the acquired tangible assets and assumed liabilities based upon their relative fair values at the date of acquisition. A property acquired with an existing lease is accounted for as a business combination pursuant to the acquisition method in accordance with ASC Topic 805, Business Combinations (“ASC 805”), and assets acquired and liabilities assumed, including identified intangible assets and liabilities, are recorded at fair value. The determination of fair value involves the use of significant judgment and estimation. The Trust makes estimates of the fair value of the tangible and intangible acquired assets and assumed liabilities using information obtained from multiple sources as a result of pre-acquisition due diligence and may include the assistance of a third party appraiser. The Trust estimates the fair value of buildings acquired on an as-if-vacant basis and depreciates the building value over the estimated remaining life of the building. The Trust determines the allocated value of other fixed assets, such as site improvements, based upon the replacement cost and depreciates such value over the assets’ estimated remaining useful lives as determined at the applicable acquisition date. The fair value of land is determined either by considering the sales prices of similar properties in recent transactions or based on internal analyses of recently acquired and existing comparable properties within the Trust’s portfolio. In recognizing identified intangible assets and liabilities in connection with a business combination, the value of above-or-below market leases is estimated based on the present value (using an interest rate which reflected the risks associated with the leases acquired) of the difference between contractual amounts to be received pursuant to the leases and management’s estimate of market lease rates measured over a period equal to the estimated remaining term of the lease. The capitalized above-market or below-market lease intangibles are amortized as a reduction or addition to rental income over the estimated remaining term of the respective leases. In determining the value of in-place leases, management considers current market conditions and costs to execute similar leases in arriving at an estimate of the carrying costs during the expected lease-up period from vacant to existing occupancy. In estimating carrying costs, management includes real estate taxes, insurance, other operating expenses, estimates of lost rental revenue during the expected lease-up periods, and costs to execute similar leases, including leasing commissions, tenant improvements, legal, and other related costs based on current market demand. The values assigned to in-place leases are amortized over the estimated remaining term of the lease. The values assigned to all lease intangible assets and liabilities are amortized over the estimated remaining term of the lease. If a lease terminates prior to its scheduled expiration, all unamortized costs related to that lease are written off. The Trust calculates the fair value of any long-term debt assumed by discounting the remaining contractual cash flows on each instrument at the current market rate for those borrowings, which the Trust approximates based on the rate at which it would expect to incur on a replacement instrument on the date of acquisition, and recognize any fair value adjustments related to long-term debt as effective yield adjustments over the remaining term of the instrument. Based on these estimates, the Trust recognizes the acquired assets and assumed liabilities at their estimated fair values, which are generally determined using Level 3 inputs, such as market rental rates, capitalization rates, discount rates, or other available market data. Initial valuations are subject to change until the information is finalized, no later than 12 months from the acquisition date. The Trust expenses transaction costs associated with acquisitions accounted for as business combinations in the period incurred. Impairment of Intangible and Long-Lived Assets The Trust periodically evaluates its long-lived assets, primarily consisting of investments in real estate, for impairment indicators or whenever events or changes in circumstances indicate that the recorded amount of an asset may not be fully recoverable. If indicators of impairment are present, the Trust evaluates the carrying value of the related real estate properties in relation to the undiscounted expected future cash flows of the underlying operations. In performing this evaluation, management considers market conditions and current intentions with respect to holding or disposing of the real estate property. The Trust adjusts the net book value of real estate properties to fair value if the sum of the expected future undiscounted cash flows, including sales proceeds, is less than book value. The Trust recognizes an impairment loss at the time it makes any such determination. If the Trust determines that an asset is impaired, the impairment to be recognized is measured as the amount by which the recorded amount of the asset exceeds its fair value. Fair value is typically determined using a discounted future cash flow analysis or other acceptable valuation techniques, which are based, in turn, upon Level 3 inputs, such as revenue and expense growth rates, capitalization rates, discount rates or other available market data. The Trust recorded real estate impairment charges of $1.8 million year ended December 31, 2014. Assets Held for Sale and Discontinued Operations The Trust may sell properties from time to time for various reasons, including favorable market conditions. The Trust classifies certain long-lived assets as held for sale once the criteria, as defined by GAAP, has been met. Long-lived assets to be disposed of are reported at the lower of their carrying amount or fair value minus cost to sell and are no longer depreciated. In 2014, the FASB issued Accounting Standards Update 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU 2014-08”), which raises the threshold for disposals to qualify as discontinued operations. A discontinued operation is defined as: (1) a component of an entity or group of components that has been disposed of or classified as held for sale and represents a strategic shift that has or will have a major effect on an entity’s operations and financial results; or (2) an acquired business that is classified as held for sale on the acquisition date. ASU 2014-08 also requires additional disclosures regarding discontinued operations, as well as material disposals that do not meet the definition of discontinued operations. The application of this guidance is prospective from the date of adoption and applies only to disposals (or new classifications to held for sale) that have not been reported as discontinued operations in the Trust’s previously issued financial statements. The Trust early adopted ASU 2014-08 for the quarter ended March 31, 2014. Such adoption has had no impact on the Trust’s financial statements as no dispositions that qualify as discontinued operations occurred during the year ended December 31, 2015 and 2014. Investments in Unconsolidated Entities The Trust reports investments in unconsolidated entities over whose operating and financial policies it has the ability to exercise significant influence under the equity method of accounting. Under this method of accounting, the Trust’s share of the investee’s earnings or losses is included in its consolidated and combined statements of operations. The initial carrying value of investments in unconsolidated entities is based on the amount paid to purchase the equity interest. During 2014, the Trust completed the acquisition of a 40% limited liability company membership interest in Jeff-Orleans Medical Development Real Estate, L.L.C., the entity that owns and leases to the Trust the land on which the Crescent City Surgical Centre is situated, for $1.3 million. Real Estate Loans Receivable Real estate loans receivable consists of seven mezzanine loans and a term loan. Each mezzanine loan is collateralized by an ownership interest in the respective borrower, while the term loan is secured by an equity interest in one medical office building development. Interest income on the loans are recognized as earned based on the terms of the loans subject to evaluation of collectability risks and are included in the Trust’s consolidated statement of operations. Cash and cash equivalents Cash and cash equivalents consist of cash on hand and short-term investments with maturities of three months or less from the date of purchase. The Trust is subject to concentrations of credit risk as a result of its temporary cash investments. The Trust places its temporary cash investments with high credit quality financial institutions in order to mitigate that risk. Escrow reserves The Trust is required to maintain various escrow reserves on certain notes payable to cover future property taxes and insurance and tenant improvements costs as defined in each loan agreement. The total reserves as of December 31, 2015 and 2014 are $4.8 million and $1.9 million , respectively, which are included in other assets in the consolidated balance sheets. Deferred costs Deferred costs consist primarily of fees paid to obtain financing and costs associated with the origination of long-term leases on real estate properties. After the purchase of a property, lease commissions incurred to extend in-place leases or generate new lease are added to deferred lease costs. Deferred lease costs are amortized on a straight-line basis over the terms of their respective agreements. The Trust amortizes deferred financing costs as a component of interest expense over the terms of the related borrowings using a method that approximates a level yield. Derivatives Derivatives consist of two embedded derivatives and an interest rate swap and are recognized as liabilities on the consolidated balance sheets in accrued expenses and other liabilities and are measured at fair value. For the interest rate swap any change in the fair value is recognized immediately in earnings unless the derivative qualified as a hedge and for the embedded derivatives any change in fair value is recognized in Redeemable noncontrolling interest – Operating Partnership and partially owned properties. No derivatives have been designated as hedges. The Trust is exposed to certain risks in the normal course of its business operations. One risk relating to the variability of interest on variable rate debt is managed through the use of derivatives. All derivative financial instruments are measured and reported in the consolidated balance sheets at fair value. The Trust has elected not to apply hedge accounting to its derivative financial instruments and as such, any changes in the fair values of its derivatives are recognized immediately in earnings. Generally, the Trust enters into swap relationships such that changes in the fair value or cash flows of items and transactions being hedged are expected to be offset by corresponding changes in the values of the derivatives. Tenant receivables, net Tenant accounts receivable are stated net of the applicable allowance. Rental payments under these contracts are primarily due monthly. The Trust assesses the collectability of tenant receivables, including straight-line rent receivables, and defers recognition of revenue if collectability is not reasonably assured. The Trust bases its assessment of the collectability of rent receivables on several factors, including, among other things, payment history, the financial strength of the tenant and current economic conditions. If management’s evaluation of these factors indicates it is probable that the Trust will be unable to recover the full value of the receivable, the Trust provides a reserve against the portion of the receivable that it estimates may not be recovered. At December 31, 2015 and 2014 , the allowance for doubtful accounts was $0.1 million. Rental Revenue Rental revenue is recognized on a straight-line basis over the terms of the related leases when collectability is reasonably assured. Recognizing rental revenue on a straight-line basis for leases may result in recognizing revenue for amounts more or less than amounts currently due from tenants. Amounts recognized in excess of amounts currently due from tenants are included in other assets and were approximately $15.6 million and $6.4 million as of December 31, 2015 and 2014 , respectively. If the Trust determines that collectability of straight-line rents is not reasonably assured, the Trust limits future recognition to amounts contractually owed and, where appropriate, establishes an allowance for estimated losses. Rental revenue is adjusted by amortization of lease inducements and above or below market rents on certain leases. Lease inducements and above or below market rents are amortized over the average remaining life of the lease. Expense Recoveries Expense recoveries relate to tenant reimbursement of real estate taxes, insurance and other operating expenses that are recognized as expense recovery revenue in the period the applicable expenses are incurred. The reimbursements are recorded at gross, as the Trust is generally the primary obligor with respect to real estate taxes and purchasing goods and services from third-party suppliers and has discretion in selecting the supplier and bears the credit risk of tenant reimbursement. The Trust has certain tenants with absolute net leases. Under these lease agreements, the tenant is responsible for operating and building expenses. For absolute net leases, the Trust does not recognize expense recoveries. Income Taxes The Trust elected to be taxed as a REIT for federal tax purposes commencing with the filing of its tax return for the short taxable year ending December 31, 2013. The Trust had no taxable income prior to electing REIT status. To qualify as a REIT, the Trust must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its annual REIT taxable income to its shareholders (which is computed without regard to the dividends paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Trust generally will not be subject to federal income tax to the extent it distributes qualifying dividends to its shareholders. If the Trust fails to qualify as a REIT in any taxable year, it will be subject to federal income tax (including any applicable alternative minimum tax) on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost unless the Internal Revenue Service grants the Trust relief under certain statutory provisions. Such an event could materially adversely affect the Trust’s net income and net cash available for distribution to shareholders. However, the Trust intends to continue to operate in such a manner as to continue qualifying for treatment as a REIT. Even if the Trust continues to qualify for taxation as a REIT, the Trust may be subject to state and local taxes on its income and property and federal income and excise taxes on its undistributed income. Management Estimates The preparation of consolidated and combined financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated and combined financial statements and the amounts of revenue and expenses reported in the period. Significant estimates are made for the fair value assessments with respect to purchase price allocations, impairment assessments, and the valuation of financial instruments. Actual results could differ from these estimates. Contingent Liability The Trust records a liability for contingent consideration (included in accrued expenses and other liabilities on its consolidated balance sheets) at fair value as of the acquisition date and reassess the fair value at the end of each reporting period, with any changes being recognized in earnings. Increases or decreases in the fair value of contingent consideration can result from changes in discount periods, discount rates and probabilities that contingencies will be met. Reclassifications Certain prior period amounts have been reclassified to conform to the current financial statement presentation, with no effect on the previously reported consolidated financial position or consolidated and combined results of operations. Segment Reporting Under the provision of Codification Topic 280, Segment Reporting , the Company has determined that it has one reportable segment with activities related to leasing and managing healthcare properties. New Accounting Pronouncements In May 2014, the FASB issued ASU 2014-9, Revenue from Contracts with Customers , which creates a new Topic, Accounting Standards Codification Topic 606. The standard is principle-based and provides a five-step model to determine when and how revenue is recognized. The core principle is that a company should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This standard is effective for interim or annual periods beginning after December 15, 2017 and allows for either full retrospective or modified retrospective adoption. Early adoption of this standard is permitted for reporting periods beginning after December 15, 2016. While the Trust is currently evaluating the impact the adoption of Topic 606 will have on its consolidated financial statements, we do not expect its adoption to have a significant impact on our consolidated financial statements, as a substantial portion of our revenue consists of rental income from leasing arrangements, which are specifically excluded from ASU 2014-09. In February 2015, the FASB issued ASU 2015-2, Amendments to the Consolidation Analysis . This update is intended to improve targeted areas of consolidation guidance by simplifying the consolidation evaluation process and by placing more emphasis on risk of loss when determining a controlling financial interest. The provisions of this ASU are effective for interim and annual periods beginning after December 15, 2015. The Company will adopt ASU 2015-2 on January 1, 2016, and it is not expected to have a material impact on the Company’s consolidated financial statements and disclosures. In April 2015, the FASB issued ASU 2015-3, Simplifying the Presentation of Debt Issuance Costs , which changes the presentation of debt issuance costs in financial statements. ASU 2015-3 requires an entity to present such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs will continue to be reported as interest expense. ASU 2015-3 is effective for annual reporting periods beginning after December 15, 2016. Early adoption is permitted. The new guidance will be applied retrospectively to each prior period presented. The Company will adopt ASU 2015-3 on January 1, 2016, and it is not expected to have a material impact on the Company’s consolidated financial statements and disclosures. In September 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement-Period Adjustments . The update requires that acquiring entities in a business combination recognize adjustments to provisional amounts identified in the reporting period in which the adjustment amounts are determined, including the cumulative effect of the change in provisional amount, as if the accounting had been completed at the acquisition date. Adjustments related to previous reporting periods must be disclosed by income statement line item, either on the face of the income statement or in the notes, in the period for which the adjustment was identified. ASU 2015-16 is effective for annual reporting periods beginning after December 15, 2015. The Company will adopt ASU 2015-16 on January 1, 2016, and it is not expected to have a material impact on the Company’s consolidated financial statements and disclosures. In February 2016, the FASB issued ASU 2016-02, Leases . The update amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. The standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. ASU 2016-02 will be effective for annual reporting periods beginning after December 15, 2018. Early adoption is permitted. We are currently evaluating the impact of adopting the new leases standard on our consolidated financial statements.

Acquisitions and Disposition

Acquisitions and Disposition	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Acquisitions and Disposition	Note 3. Acquisitions and Dispositions During 2015 , the Trust completed acquisitions of 66 properties located in 22 states for an aggregate purchase price of approximately $ 818.6 million . In addition, the Trust completed loan investments totaling $ 22.4 million . Acquisition activity for the year ending December 31, 2015 is summarized below: Property (1) Location Acquisition Date Purchase Price (in thousands) Minnesota Portfolio (2) Edina MOB (5) Edina MN January 22, 2015 $ 14,190 Crystal MOB (5) Crystal, MN January 22, 2015 14,782 Savage MOB (5) Savage, MN January 22, 2015 12,800 Dell Road MOB (5) Chanhassen, MN January 22, 2015 6,410 Vadnais Heights MOB (5) Vadnais Heights, MN January 29, 2015 18,422 Minnetonka MOB (3) (5) Minnetonka, MN February 5, 2015 26,000 Jamestown MOB (5) Jamestown, ND February 5, 2015 12,819 Minnesota Eye MOB (5) Minnetonka, MN February 17, 2015 10,882 Columbus MOB (5) Columbus, GA January 23, 2015 6,540 Methodist Sports MOB (4) (6) Greenwood, IN January 28, 2015 10,000 Indianapolis South (4 MOBs) (5) Greenwood, IN February 13, 2015 17,183 Baylor Cancer Center (5) Dallas, TX February 27, 2015 8,200 Bridgeport Medical Center (5) Lakewood, WA February 27, 2015 13,750 Renaissance Office Building (5) Milwaukee, WI March 27, 2015 6,500 University of Rochester Strong Memorial Portfolio (5 MOBs) (5) Rochester, NY March 31, 2015 41,000 Avalon Park Florida Hospital MOB (5) Avalon Park, FL March 31, 2015 14,600 Premier Surgery Center of Louisville (5) Louisville, KY April 10, 2015 8,000 Baton Rouge MOB (5) Baton Rouge, LA April 15, 2015 10,486 Healthpark Medical Center (5) Grand Blanc, MI April 30, 2015 18,913 Plaza HCA MOB (5) Jacksonville, FL April 30, 2015 19,000 Northern Ohio Medical Center (4) Sheffield, OH May 28, 2015 11,236 University of Michigan - Northville MOB (5) Livonia, MI May 29, 2015 14,750 Coon Rapids Medical Center MOB (5) Coon Rapids, MN June 1, 2015 7,298 Mezzanine Loan - UF Health MOB (7) Jacksonville, FL June 1, 2015 9,000 Premier Landmark MOB (4) (8) Bloomington, IN June 5, 2015 11,308 Palm Beach ASC (5) Palm Beach, FL June 26, 2015 14,070 Brookstone Physician Center MOB (5) Jacksonville, AL June 30, 2015 2,800 Jackson Woman's Clinic MOB (5) Jackson, TN June 30, 2015 5,672 Hillside Medical Center MOB (5) Hanover, PA June 30, 2015 11,400 Randall Road MOB (5) Elgin, IL June 30, 2015 13,045 Randall Road MOB - Unit 140 (4) Elgin, IL July 17, 2015 1,750 Medical Specialists of Palm Beach MOB (5) Atlantis, FL July 24, 2015 11,051 OhioHealth - SW Health Center MOB (5) Grove City, OH July 31, 2015 11,460 Trios Health MOB (5) Kennewick, WA July 31, 2015 64,000 Integrated Medical Services (IMS) Portfolio IMS - Paradise Valley MOB (5) Phoenix, AZ August 14, 2015 31,814 IMS - Avondale MOB (5) Avondale, AZ August 19, 2015 22,144 IMS - Palm Valley MOB (5) Goodyear, AZ August 19, 2015 35,184 IMS - North Mountain MOB (5) Phoenix, AZ August 31, 2015 51,740 Property (1) Location Acquisition Date Purchase Price (in thousands) Mezzanine Loan - Warm Springs Rehab Hospital (9) Kyle, TX August 21, 2015 3,138 Memorial Hermann Medical Complex (2 MOBs) (5) Katy, TX September 1, 2015 40,400 Construction Loan - Tinseltown (10) Jacksonville, FL September 4, 2015 1,005 New Albany Medical Center MOB (5) (11) New Albany, OH September 9, 2015 11,200 Fountain Hills Medical Campus MOB (5) Fountain Hills, AZ September 30, 2015 13,250 Catalyst Portfolio (12 MOBs) (5) AL & FL October 13, 2015 23,805 Mezzanine Loan - Truman Medical Center (12) Kansas City, MO October 16, 2015 4,500 Arete Surgical Center (5) Johnstown, CO October 19, 2015 9,100 Cambridge Professional Center MOB (5) Waldorf, MD October 30, 2015 11,550 Mezzanine Loan - Great Falls Replacement Surgical Hospital (13) Great Falls, MT November 2, 2015 4,500 HonorHealth 44th Street MOB (5) Phoenix, AZ November 13, 2015 7,163 Mercy Medical Center MOB (5) Fenton, MO December 1, 2015 9,850 Nashville MOB (5) (14) Nashville, TN December 17, 2015 45,440 Mezzanine Loan - Wilson Surgery Center (15) Wilson, NC December 17, 2015 216 Hillside Medical Center - Suite 100 (4) Hanover, PA December 18, 2015 4,240 Randall Road MOB - Suite 170 (4) Elgin, IL December 21, 2015 408 KSF Orthopaedic MOB (5) Houston, TX December 22, 2015 6,250 Great Falls Clinic MOB (5) (16) Great Falls, MT December 29, 2015 24,244 Randall Road MOB - Suite 320 (4) Elgin, IL December 30, 2015 500 Total $ 840,958 (1) “MOB” means medical office building and “ASC” means ambulatory surgical center. (2) Through subsidiaries of the Operating Partnership, the Trust acquired seven medical office facilities located in the Minneapolis-St. Paul Metropolitan area and one additional medical office facility located in Jamestown, North Dakota from affiliates of The Davis Group and investors associated with The Davis Group. The Davis Group retained a less than 1% minority interest in the property holding entities. (3) The Operating Partnership partially funded the purchase price of this acquisition by issuing a total of 44,685 Series A Preferred Units valued at approximately $9.7 million in the aggregate on the date of issuance. (4) The Trust accounted for these acquisitions as asset acquisitions and capitalized $ 0.4 million of total acquisition costs to the basis of the properties. (5) The Trust accounted for these acquisitions as business combinations pursuant to the acquisition method and expensed total acquisition costs of $14.9 million . (6) The Operating Partnership partially funded the purchase price of this acquisition by issuing a total of 420,963 OP Units valued at approximately $7.3 million in the aggregate on the date of issuance. (7) The Trust made a $9.0 million mezzanine term loan to fund the development of a MOB in Jacksonville, Florida. The loan is collateralized by an equity interest in the medical building development and accrues interest at a rate of 8.4% per year. (8) The Operating Partnership partially funded the purchase price of this acquisition by issuing a total of 210,820 OP Units valued at approximately $3.4 million in the aggregate on the date of issuance. (9) The Trust made a $3.1 million mezzanine term loan to partially fund the borrower’s acquisition of the 54,500 square foot Warm Springs Rehabilitation Hospital in Kyle, Texas. The mezzanine loan is collateralized by an equity interest in the property and accrues interest at a rate of 8.5% per year. The Trust has an option to purchase the property. (10) The Trust made additional advances on a construction loan to Tinseltown Partners, LLC to fund the renovations and additions of two re-purposed buildings in Jacksonville, Florida. The additional advances total $1.0 million and accrue at an interest rate of 9.0% per year. (11) The Operating Partnership partially funded the purchase price of this acquisition by issuing a total of 16,866 OP Units valued at approximately $0.2 million in the aggregate on the date of issuance. (12) The Trust made a $4.5 million mezzanine term loan to partially fund the owner’s permanent financing of the 87,500 square foot Truman Medical Center in Kansas City, Missouri. The loan accrues interest at the rate of 8.02% per year. The Trust has rights of first offer and first refusal to purchase the property. (13) The Trust made a $4.5 million mezzanine term loan to partially fund the construction of the 63,250 square foot Great Falls Hospital in Great Falls, Montana. The loan accrues interest at the rate of 9.0% per year. The Trust has a contract to purchase the property upon completion of construction. (14) The Operating Partnership partially funded the purchase price of this acquisition by issuing a total of 91,236 Series A Preferred Units valued at approximately $19.7 million in the aggregate on the date of issuance. Holders of the Series A Preferred Units issued in connection with the acquisition of the Nashville MOB are entitled to certain redemption rights under the partnership agreement of the Operating Partnership which allow them to cause the Operating Partnership to redeem the Series A Preferred Units in exchange for cash, or at the Trust’s option, for common shares, pursuant to a formula provided in the partnership agreement. The investors in the Series A Preferred Units have agreed not cause the Operating Partnership to redeem their Series A Preferred Units prior to December 17, 2016. (15) The Trust made a $0.2 million short term mezzanine loan to partially fund the owner’s acquisition of a 9,890 square foot ambulatory surgery center in Wilson, North Carolina. The loan accrues interest at the rate of 8.8% per year. (16) The Trust’s $24.2 million investment represents the acquisition of an approximate 75% membership interest in the entity which owns the Great Falls Clinic. For 2015 , the Trust recorded revenues and net income of $41.4 million and $10.6 million , respectively, from its 2015 acquisitions. During 2014 , the Trust completed acquisitions of 61 properties located in 15 states for an aggregate purchase price of approximately $543.4 million . Acquisition activity for the year ending December 31, 2014 is summarized below: Property (1) Location Acquisition Date Purchase Price (in thousands) Foundations San Antonio Surgical Hospital (2) San Antonio, TX February 19, 2014 $ 25,556 Eagles Landing Family Practice 4 MOBs (2) Atlanta, GA February 19, 2014 20,800 21st Century Oncology 4 MOBs (3) Sarasota, FL February 26, 2014 17,486 Foundations San Antonio MOB (3) San Antonio, TX February 28, 2014 6,800 Peachtree Dunwoody MOB (3) Atlanta, GA February 28, 2014 36,726 LifeCare LTACH (2) Fort Worth, TX March 28, 2014 27,160 LifeCare LTACH (2) Pittsburgh, PA March 28, 2014 12,840 Pinnacle Health Cardiology Portfolio 2 MOBs (3) Carlisle & Wormleyburg, PA April 22, 2014 9,208 South Bend Orthopaedic MOB (3) South Bend, IN April 30, 2014 14,900 Grenada Medical Complex MOB (3) Grenada, MS April 30, 2014 7,100 Mississippi Sports Medicine and Orthopaedics Center MOB (2) (4) Jackson, MS May 23, 2014 16,700 Carmel Medical Pavilion MOB (3) (5) Carmel, IN May 28, 2014 4,664 Summit Urology MOB (2) Bloomington, IN June 30, 2014 4,783 Renaissance Center (3) Oshkosh, WI June 30, 2014 8,500 Presbyterian Medical Plaza MOB (3) Monroe, NC June 30, 2014 7,750 Landmark Medical Portfolio (Premier) 3 MOBs (2) (6) Bloomington, IN July 1, 2014 23,837 Carlisle II MOB (3) Carlisle, PA July 25, 2014 4,500 Surgical Institute of Monroe ASC Monroe, MI July 28, 2014 6,000 The Oaks Medical Building MOB (3) Lady Lake, FL July 31, 2014 10,600 Baylor Surgicare ASC — Mansfield (3) Mansfield, TX September 2, 2014 8,500 Eye Center of Southern Indiana (2) (7) Bloomington, IN September 5, 2014 12,174 Wayne State Medical Center and MOB (2) Troy, MI September 10, 2014 46,500 El Paso Portfolio (specialty surgical hospital and 2 MOBs) (3) (8) El Paso, TX September 30, 2014 46,235 The Mark H. Zangmeister Center (3) Columbus, OH September 30, 2014 36,600 Berger Medical Center (3) Orient, OH September 30, 2014 6,785 Orthopedic One 2 MOBs (3) Columbus, OH Westerville, OH September 30, 2014 24,500 Pinnacle Health Portfolio 5 MOBs (3) Harrisburg, PA October 29, 2014 23,100 Columbus Regional Health Portfolio 12 MOBs (3) Columbus, GA November 20, 2014 27,997 Middletown Medical 2 MOBs (2) Middletown, NY November 26, 2014 14,399 Carle Danville Clinic MOB (3) Danville, IL November 26, 2014 10,300 Napoleon Medical Building MOB (3) New Orleans, LA December 18, 2014 10,500 West Tennessee Bone & Joint 1 MOB 1 ASC (2) Jackson, TN December 30, 2014 9,936 Total $ 543,436 (1) “MOB” means medical office building, “LTACH” means long-term acute care hospital and “ASC” means ambulatory surgical center. (2) The Trust accounted for these acquisitions as asset acquisitions and capitalized $1.7 million of total acquisition costs to the basis of the properties. (3) The Trust accounted for these acquisitions as business combinations pursuant to the acquisition method and expensed total acquisition costs of $10.9 million . (4) The Operating Partnership partially funded the purchase price of these acquisitions by issuing a total of 147,659 OP Units valued at approximately $1.9 million in the aggregate on the date of issuance. (5) The Operating Partnership partially funded the purchase price of these acquisitions by issuing a total of 96,099 OP Units valued at approximately $1.2 million in the aggregate on the date of issuance. (6) The Operating Partnership partially funded the purchase price of these acquisitions by issuing a total of 576,040 OP Units valued at approximately $8.3 million in the aggregate on the date of issuance. (7) The Operating Partnership partially funded the purchase price of these acquisitions by issuing a total of 272,191 OP Units valued at approximately $4.0 million in the aggregate on the date of issuance. (8) The Operating Partnership partially funded the purchase price of these acquisitions by issuing a total of 950,324 OP Units valued at approximately $13.2 million in the aggregate on the date of issuance. The following table summarizes the preliminary purchase price allocations of the assets acquired and the liabilities assumed, which the Trust determined using Level 2 and Level 3 inputs (in thousands): December 31, 2015 December 31, 2014 Land $ 52,224 $ 53,687 Building and improvements 643,470 451,691 In-place lease intangibles 99,763 35,720 Above market lease intangibles 19,337 5,270 Below market lease intangibles (3,738 ) (2,330 ) Below market ground lease 13,941 — Above market ground lease — (701 ) Investment in unconsolidated entity — 1,300 Lease inducement 2,478 1,532 Leasehold interest — 759 Derivative liability assumed — (197 ) Contingent consideration (2,718 ) (840 ) Receivable 3,564 640 Debt assumed (18,690 ) (15,283 ) Issuance of OP Units (10,973 ) (28,589 ) Issuance of Series A Preferred Units (29,403 ) — Noncontrolling interest (13,970 ) — Net assets acquired $ 755,285 $ 502,659 These preliminary allocations are subject to revision within the measurement period, not to exceed one year from the date of the acquisitions. Unaudited Pro Forma Financial Information The following table illustrates the pro forma consolidated revenue, net income, and earnings per share as if the Trust had acquired the 2015 acquisitions detailed above as of January 1, 2014 (in thousands, except share and per share amounts): Year Ended December 31, 2015 2014 Revenue $ 168,154 $ 133,411 Net income 38,959 17,512 Net income available to common shareholders 36,938 16,599 Earnings per share $ 0.42 $ 0.19 Common shares outstanding 87,175,904 87,175,904

Intangibles

Intangibles	12 Months Ended
	Dec. 31, 2015
Finite-Lived Intangible Assets, Net [Abstract]
Intangibles	Note 4. Intangibles The following is a summary of the carrying amount of intangible assets and liabilities as of December 31, 2015 and 2014 (in thousands): December 31, 2015 December 31, 2014 Cost Accumulated Amortization Net Cost Accumulated Amortization Net Assets In-place leases $ 163,728 $ (26,702 ) $ 137,026 $ 64,777 $ (12,213 ) $ 52,564 Above market leases 26,787 (3,174 ) 23,613 7,449 (578 ) 6,871 Leasehold interest 712 (64 ) 648 759 (5 ) 754 Below market ground lease 13,941 (68 ) 13,873 — — — Total $ 205,168 $ (30,008 ) $ 175,160 $ 72,985 $ (12,796 ) $ 60,189 Liability Below market lease $ 6,068 $ (799 ) $ 5,269 $ 2,330 $ (156 ) $ 2,174 Above market ground lease 701 (20 ) 681 701 (4 ) 697 Total $ 6,769 $ (819 ) $ 5,950 $ 3,031 $ (160 ) $ 2,871 The following is a summary of the acquired lease intangible amortization for the years ended December 31, 2015 , 2014 and 2013 (in thousands): December 31, 2015 2014 2013 Amortization expense related to in-place leases $ 15,300 $ 4,133 $ 1,252 Decrease of rental income related to above-market leases 2,596 530 48 Decrease of rental income related to leasehold interests 59 5 — Increase of rental income related to below-market leases 643 156 — Decrease of operating expense related to above market ground leases 16 4 — Increase in operating expense related to below market ground leases 68 — — Future aggregate net amortization of the acquired lease intangibles as of December 31, 2015 , is as follows (in thousands): Net Decrease in Revenue Net Increase in Expenses 2016 $ (3,016 ) $ 20,760 2017 (2,447 ) 18,743 2018 (2,162 ) 17,283 2019 (1,982 ) 14,161 2020 (1,886 ) 12,427 Thereafter (7,499 ) 66,844 Total $ (18,992 ) $ 150,218 For the year ended December 31, 2015 , the weighted average amortization period for asset lease intangibles and liability lease intangibles are 15 years and 12 years, respectively.

Other Assets

Other Assets	12 Months Ended
	Dec. 31, 2015
Other Assets, Unclassified [Abstract]
Other Assets	Note 5. Other Assets Other assets consisted of the following as of December 31, 2015 and 2014 (in thousands): December 31, 2015 2014 Straight line rent receivable $ 15,584 $ 6,431 Lease inducements, net 4,970 2,845 Escrows 4,788 1,906 Earnest deposits 343 2,343 Notes receivable 20,620 — Prepaid expenses and other 5,926 2,281 Total $ 52,231 $ 15,806

Debt

Debt	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Debt	Note 6. Debt The following is a summary of debt as of December 31, 2015 and 2014 (in thousands): December 31, 2015 2014 Fixed interest mortgage notes $ 89,664 (1) $ 73,706 (2) Variable interest mortgage note 4,262 (3) 4,399 (4) Total mortgage debt 93,926 78,105 $750 million unsecured revolving credit facility bearing variable interest of LIBOR plus 1.20%, due September 2019. 395,000 138,000 Total principal 488,926 216,105 Unamortized fair value adjustment 674 — Total debt $ 489,600 $ 216,105 (1) Fixed interest mortgage notes, bearing interest from 4.71% to 6.58% , with a weighted average interest rate of 5.40% , and due in 2016, 2017, 2019, 2020, 2021 and 2022 collateralized by 11 properties with a net book value of $145,038 . (2) Fixed interest mortgage notes, bearing interest from 4.71% to 6.58% , with a weighted average interest rate of 5.26% , and due in 2016, 2017, 2018, 2019, 2021 and 2022 collateralized by nine properties with a net book value of $118,247 . (3) Variable interest mortgage note bearing variable interest of LIBOR plus 2.75% and due in 2017, collateralized by one property with a net book value of $5,994 . (4) Variable interest mortgage note bearing variable interest of LIBOR plus 2.75% and due in 2017, collateralized by one property with a net book value of $6,249 . Effective September 18, 2014, the Credit Agreement, dated as of August 29, 2013 (as amended, restated, increased, extended, supplemented or otherwise modified from time to time, the “Prior Credit Agreement”), among the Operating Partnership, as borrower, the Trust, certain subsidiaries and other affiliates of the Operating Partnership, as guarantors, Regions Bank, as administrative agent, Regions Capital Markets, as sole lead arranger and sole book runner, and the lenders party thereto, and all commitments provided thereunder, were terminated. All amounts due and outstanding under the Prior Credit Agreement were repaid on or prior to such date. On September 18, 2014, the Operating Partnership, as borrower, and the Trust and certain subsidiaries and other affiliates of the Trust, as guarantors, entered into a Credit Agreement with KeyBank National Association as administrative agent, KeyBanc Capital Markets Inc., Regions Capital Markets and BMO Capital Markets, as joint lead arrangers and joint bookrunners, Regions Capital Markets and BMO Capital Markets, as co-syndication agents, and the lenders party thereto in connection with an unsecured revolving credit facility in the maximum principal amount of $400 million (“Credit Agreement”). The Credit Agreement includes a swingline loan commitment for up to 10% of the maximum principal amount and provides an accordion feature allowing the Trust to increase borrowing capacity by up to an additional $350 million , subject to customary terms and conditions, resulting in a maximum borrowing capacity of $750 million . The Credit Agreement replaced the Trust’s senior secured revolving credit facility in the maximum principal amount of $200 million under the Prior Credit Agreement. On July 22, 2015, the Operating Partnership, as borrower, and the Trust and certain subsidiaries and other affiliates of the Operating Partnership, as guarantors, entered into an amendment to the existing Credit Agreement with KeyBank National Association, as administrative agent, KeyBanc Capital Markets Inc., Regions Capital Markets and BMO Capital Markets, as joint lead arrangers and joint bookrunners, Regions Capital Markets and BMO Capital Markets, as co-syndication agents, and the lenders party thereto (as amended, the “Credit Agreement”) which increased the maximum principal amount available under the unsecured revolving credit facility from $400 million to $750 million. The Credit Agreement includes a swingline loan commitment for up to 10% of the maximum principal amount and provides an accordion feature allowing the Trust to increase borrowing capacity by up to an additional $350 million, subject to customary terms and conditions, resulting in a maximum borrowing capacity of $1.1 billion. The Credit Agreement has a maturity date of September 18, 2019 and includes a one year extension option. Borrowings under the Credit Agreement bear interest on the outstanding principal amount at an adjusted LIBOR rate, which is based on the Trust’s investment grade rating under the Credit Agreement. As of December 31, 2015 , the Trust had an investment grade rating from Moody’s of Baa3 and as such, borrowings under the Credit Agreement accrued interest on the outstanding principal at a rate of LIBOR plus 1.20% . The Credit Agreement includes a facility fee equal to 0.25% per annum, which is also determined by the Trust’s investment grade rating. The Credit Agreement contains financial covenants that, among other things, require compliance with leverage and coverage ratios and maintenance of minimum tangible net worth, as well as covenants that may limit the Trust’s and the Operating Partnership’s ability to incur additional debt or make distributions. The Trust may, at any time, voluntarily prepay any loan under the Credit Agreement in whole or in part without premium or penalty. As of December 31, 2015 , the Trust was in compliance with all financial covenants. The Credit Agreement includes customary representations and warranties by the Operating Partnership, the Trust and each other guarantor and imposes customary covenants on the Operating Partnership, the Trust and each other guarantor. The Credit Agreement also contains customary events of default, and if an event of default occurs and continues, the Operating Partnership is subject to certain actions by the administrative agent, including without limitation, the acceleration of repayment of all amounts outstanding under the Credit Agreement. The Credit Agreement provides for revolving credit loans to the Operating Partnership. Base Rate Loans, Adjusted LIBOR Rate Loans and Letters of Credit (each, as defined in the Credit Agreement) will be subject to interest rates, based upon the Trust’s investment grade rating as follows: Investment Grade Rating Adjusted LIBOR Rate Loans Base Rate Loans At Least A- or A3 LIBOR + 0.85% — % At Least BBB+ or BAA1 LIBOR + 0.90% — % At Least BBB or BAA2 LIBOR + 1.00% 0.10 % At Least BBB- or BAA3 LIBOR + 1.20% 0.20 % Below BBB- or BAA3 LIBOR + 1.55% 0.60 % As of December 31, 2015 , there were $395.0 million of borrowings outstanding under our unsecured revolving credit facility and $198.7 million available for us to borrow without adding additional properties to the unencumbered borrowing base of assets, as defined by the Credit Agreement. Certain properties have mortgage debt that contains financial covenants. As of December 31, 2015 , the Trust was in compliance with all mortgage debt financial covenants. Scheduled principal payments due on debt as of December 31, 2015 , are as follows (in thousands): 2016 $ 9,748 2017 40,658 2018 1,265 2019 415,081 2020 5,521 Thereafter 16,653 Total Payments $ 488,926 For the years ended December 31, 2015 and 2014 , the Trust incurred interest expense on its debt of $9.3 million and $5.8 million, respectively.

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities Accrued Expenses and Other Liabilities	12 Months Ended
	Dec. 31, 2015
Other Liabilities Disclosure [Abstract]
Accrued Expenses and Other Liabilities	Note 7. Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consisted of the following as of December 31, 2015 and 2014 (in thousands): December 31, 2015 2014 Embedded derivatives $ 8,149 $ — Security deposits 4,038 1,191 Prepaid rent 2,778 839 Contingent consideration 2,559 840 Accrued expenses and other 6,949 3,270 Total $ 24,473 $ 6,140

Stock-based Compensation

Stock-based Compensation	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Compensation	Note 8. Stock-based Compensation The Trust follows ASC 718, Compensation – Stock Compensation (“ASC 718”), in accounting for its share-based payments. This guidance requires measurement of the cost of employee services received in exchange for stock compensation based on the grant-date fair value of the employee stock awards. This cost is recognized as compensation expense ratably over the employee’s requisite service period. Incremental compensation costs arising from subsequent modifications of awards after the grant date must be recognized when incurred. Share-based payments classified as liability awards are marked to fair value at each reporting period. Certain of the Trust’s employee stock awards vest only upon the achievement of performance targets. ASC 718 requires recognition of compensation cost only when achievement of performance conditions is considered probable. Consequently, the Trust’s determination of the amount of stock compensation expense requires a significant level of judgment in estimating the probability of achievement of these performance targets. Additionally, the Trust must make estimates regarding employee forfeitures in determining compensation expense. Subsequent changes in actual experience are monitored and estimates are updated as information is available. In connection with the IPO, the Trust adopted the 2013 Equity Incentive Plan (“2013 Plan”), which made available 600,000 common shares to be administered by the Compensation and Nominating Governance Committee of the Board of Trustees. On August 7, 2014, at the Annual Meeting of Shareholders of Physicians Realty Trust, the Trust’s shareholders approved an amendment to the 2013 Plan to increase the number of common shares authorized for issuance under the 2013 Plan by 1,850,000 common shares, for a total of 2,450,000 common shares authorized for issuance. The committee has broad discretion in administering the terms of the 2013 Plan. Restricted shares granted under the 2013 Plan are eligible for dividends as well as the right to vote. The Trust granted to management and the Board of Trustees 250,000 restricted common shares upon completion of the IPO under the Trust’s 2013 Plan at a value per share of $11.50 and total value of $2.9 million with a vesting period of three years. During 2014, a total of 152,987 restricted common shares with a total value of $2.1 million were granted to Trust employees and the Board of Trustees with vesting periods ranging from one to three years. During 2015, a total of 162,522 restricted common shares with a value of $2.6 million were granted to Trust employees with vesting periods ranging from one to three years. A summary of the status of the Trust’s non-vested restricted common shares as of December 31, 2015 and changes during the year then ended follow: Shares Weighted Average Grant Date Fair Value Restricted shares issued in conjunction with our IPO 250,000 $ 11.50 Non-vested at December 31, 2013 250,000 11.50 Granted 152,987 13.79 Vested (83,333 ) 11.50 Non-vested at December 31, 2014 319,654 12.60 Granted 162,522 15.95 Vested (170,337 ) 12.93 Non-vested at December 31, 2015 311,839 $ 14.17 For all service awards, the Trust records compensation expense for the entire award on a straight-line basis (or, if applicable, on the accelerated method) over the requisite service period. For the years ended December 31, 2015 , 2014 , and 2013 the Trust recognized non-cash share compensation of $2.9 million , $2.2 million , and $0.4 million , respectively. Unrecognized compensation expense at December 31, 2015 , 2014 , and 2013 was $2.1 million , $2.4 million , and $2.5 million , respectively. The Trust’s compensation expense recorded in connection with grants of restricted stock reflects an initial estimated cumulative forfeiture rate of 0% over the requisite service period of the awards. That estimate will be revised if subsequent information indicates that the actual number of awards expected to vest is likely to differ from previous estimates. Restricted Share Units: In March 2015 and March 2014, under the Trust’s 2013 Plan, the Trust granted restricted share units at target level of 75,250 and 55,680 , respectively, to its officers, which are subject to certain performance and market conditions and a three year service period. In March 2015, the Trust additionally granted 40,957 restricted share units to the Board of Trustees which are subject to a two year vesting period. In addition, each restricted share unit contains one dividend equivalent. The recipient will accrue dividend equivalents on awarded share units equal to the cash dividend that would have been paid on the awarded share unit had the awarded share unit been an issued and outstanding common share on the record date for the dividend. Approximately 80% of the restricted share units issued to officers in 2015 vest based on certain market conditions. The market conditions were valued with the assistance of independent valuation specialists. The Trust utilized a Monte Carlo simulation to calculate the weighted average grant date fair values in 2015 and 2014 of $20.06 and $19.25 per unit, respectively, using the following assumptions: 2015 2014 Volatility 20.7 % 18.8% - 34.2% Dividend assumption reinvested reinvested Expected term in years 2.8 years 2.8 years Risk-free rate 1.14 % 0.65 % Stock price (per share) $ 15.87 $ 13.47 The remaining 20% of the restricted share units issued to officers in 2015 vest based upon certain performance conditions. With respect to the performance conditions, the grant date fair value of $15.87 per unit was calculated on the grant date. The restricted stock units’ combined weighted average grant date fair value is $19.22 per unit. The following is a summary of the activity in the Trust’s restricted share units during 2014 and 2015 : Restricted Share Units Weighted Average Grant Date Fair Value Non-vested at December 31, 2013 — $ — Granted 55,680 16.94 Non-vested at December 31, 2014 55,680 16.94 Granted 116,207 19.22 Non-vested at December 31, 2015 171,887 $ 18.48 The Trust recognized $0.9 million and $0.3 million of non-cash share unit compensation expense for the year ended December 31, 2015 and 2014 , respectively. Unrecognized compensation expense at December 31, 2015 and 2014 was $1.6 million and $0.7 million , respectively.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 9. Fair Value Measurements ASC Topic 820, Fair Value Measurement (“ASC 820”), requires certain assets and liabilities be reported and/or disclosed at fair value in the financial statements and provides a framework for establishing that fair value. The framework for determining fair value is based on a hierarchy that prioritizes the valuation techniques and inputs used to measure fair value. In general, fair values determined by Level 1 inputs use quoted prices in active markets for identical assets or liabilities that the Trust has the ability to access. Fair values determined by Level 2 inputs use other inputs that are observable, either directly or indirectly. These Level 2 inputs include quoted prices for similar assets and liabilities in active markets, and other inputs such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs, including inputs that are available in situations where there is little, if any, market activity for the related asset. These Level 3 fair value measurements are based primarily on management’s own estimates using pricing models, discounted cash flow methodologies, or similar techniques taking into account the characteristics of the asset or liability. In instances where inputs used to measure fair value fall into different levels of the fair value hierarchy, fair value measurements in their entirety are categorized based on the lowest level input that is significant to the valuation. The assessment of the significance of particular inputs to these fair value measurements requires judgment and considers factors specific to each asset or liability. The trust has three derivative instruments at December 31, 2015 , consisting of the two embedded derivatives detailed in the Redeemable Noncontrolling Interests - Operating Partnership and Partially Owned Properties section of Note 2 (Summary of Significant Accounting Policies) and an interest rate swap. Neither the embedded derivatives nor the interest rate swap are traded on an exchange. The Trust’s derivative liabilities are recorded at fair value based on a variety of observable inputs including contractual terms, interest rate curves, yield curves, measure of volatility, and correlations of such inputs. The Trust measures its derivatives at fair value on a recurring basis. The fair values are based on Level 2 inputs described above. The Trust also has assets that under certain conditions are subject to measurement at fair value on a non-recurring basis. This generally includes assets subject to impairment. There were no such assets measured at fair value as of December 31, 2015 . The carrying amounts of cash and cash equivalents, tenant receivables, payables, and accrued interest are reasonable estimates of fair value because of the short term maturities of these instruments. Fair values for real estate loans receivable and mortgage debt are estimated based on rates currently prevailing for similar instruments of similar maturities and are based on Level 2 inputs. The following table presents the fair value of the Trust’s financial instruments (in thousands). December 31, December 31, Carrying Amount Fair Value Carrying Amount Fair Value Real estate loans receivable $ 39,349 $ 39,349 $ 15,876 $ 15,876 Credit facility $ (395,000 ) $ (395,000 ) $ (138,000 ) $ (138,000 ) Mortgage debt $ (94,600 ) $ (95,275 ) $ (78,105 ) $ (78,642 ) Derivative liabilities $ (8,216 ) $ (8,216 ) $ (233 ) $ (233 )

Tenant Operating Leases

Tenant Operating Leases	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Tenant Operating Leases	Note 10. Tenant Operating Leases The Trust is lessor of medical office buildings and other healthcare facilities. Leases have expirations from 2016 through 2045 . As of December 31, 2015 , the future minimum rental payments on non-cancelable leases, exclusive of expense recoveries, were as follows (in thousands): 2016 $ 119,218 2017 115,974 2018 110,927 2019 106,196 2020 102,326 Thereafter 724,590 Total $ 1,279,231

Rent Expense

Rent Expense	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Rent Expense	Note 11. Rent Expense The Trust leases the land upon which fourteen of its properties are located from third party land owners, pursuant to separate ground leases. In addition, the Trust leases the rights to parking structures at two of its properties, pursuant to separate parking structure leases. The ground and parking leases require fixed annual rental payments and may also include escalation clauses and renewal options. These leases have terms up to 90 years remaining, excluding extension options. As of December 31, 2015 , the future minimum lease obligations under non-cancelable ground and parking leases were as follows (in thousands): 2016 $ 1,316 2017 1,353 2018 1,394 2019 1,437 2020 1,482 Thereafter 16,377 Total $ 23,359 Rent expense for the ground and parking leases of $1.3 million, $0.9 million and $0.02 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively, are reported in operating expenses in the consolidated and combined statements of operations.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Note 12. Earnings Per Share The following table shows the amounts used in computing the Trust’s basic and diluted earnings per share (in thousands, except share and per share data): Year Ended December 31, 2015 2014 2013 Numerator for earnings per share - basic: Net income (loss) $ 12,741 $ (4,418 ) $ (2,636 ) Net (income) loss attributable to Predecessor: — — 576 Net (income) loss attributable to noncontrolling interests: Operating Partnership (576 ) 695 470 Partially owned properties (377 ) (314 ) (71 ) Preferred distributions (1,189 ) — — Numerator for earnings per share - basic: $ 10,599 $ (4,037 ) $ (1,661 ) Numerator for earnings per share - diluted: Numerator for earnings per share - basic: 10,599 (4,037 ) (1,661 ) Operating Partnership net income 576 — — Numerator for earnings per share - diluted $ 11,175 $ (4,037 ) $ (1,661 ) Denominator for EPS - basic and diluted: Weighted average number of shares outstanding - basic 72,750,724 33,063,093 12,883,917 Effect of dilutive securities: Noncontrolling interest - Operating Partnership units 3,708,494 — — Restricted shares 190,619 — — Restricted share units 142,236 — — Denominator for EPS - diluted 76,792,073 33,063,093 12,883,917 Earnings per share - basic $ 0.15 $ (0.12 ) $ (0.13 ) Earnings per share - diluted $ 0.15 $ (0.12 ) $ (0.13 )

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Note 13. Related Party Transactions Effective July 24, 2013, the Trust entered into a Shared Services Agreement with Ziegler pursuant to which Ziegler provided office space, IT support, accounting support, and other services to the Trust in exchange for an annual fee. The shared service fee amounted to $0.4 million and $0.3 million for the years ended December 31, 2014 and 2013, respectively, and was recorded in general and administrative expense in the consolidated and combined statements of operations. The Operating Partnership and the Trust entered into the First Amendment to Shared Services Agreement, dated July 31, 2014 (the “First Amendment”), with Ziegler, which amended certain terms of the Shared Services Agreement. Among other things, the First Amendment reduced the shared services to be provided by Ziegler, the term of the Shared Services Agreement, and the monthly fee to be paid by the Trust for the remainder of the term. In consideration of these changes, the Trust was obligated to make a one-time payment to Ziegler in the amount of $1.8 million (the “Amendment Payment”), which could be paid in cash or in unrestricted common shares of the Trust as determined by the Trust in its sole discretion. On August 19, 2014, the Trust made the Amendment Payment by issuing 124,913 common shares to Ziegler. The $1.8 million one-time payment is included in general and administrative expense in the consolidated statement of operations for the year ended December 31, 2014. The Trust elected to terminate the Agreement effective July 23, 2015 in conjunction with our completed renovations of the Renaissance Office Building. Service fees incurred during the year ended December 31, 2015 were insignificant.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	Note 14. Subsequent Events As of February 22, 2016, the Trust, through subsidiaries of its Operating Partnership, closed on the below acquisitions during 2016: Property(1) Location Acquisition Investment (in thousands) Randall Road MOB - Suite 380 Elgin, IL January 14, 2016 $ 704 Great Falls Hospital Great Falls, MT January 25, 2016 29,043 Monterey Medical Center ASC Stuart, FL February 1, 2016 6,900 Physicians Medical Plaza MOB Indianapolis, IN February 1, 2016 8,500 Mezzanine Loan - Davis Minneapolis, MN February 4, 2016 500 Park Nicollet Clinic Chanhassen, MN February 8, 2016 18,600 HEB Cancer Center Bedford, TX February 12, 2016 14,000 Riverview Medical Center Lancaster, OH February 26, 2016 12,800 St. Luke's Cornwall MOB Cornwall, NY February 26, 2016 14,550 $ 105,597 (1) “MOB” means medical office building and “ASC” means ambulatory surgical center. See “Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations - Recent Developments” for a further discussion of these acquisitions. On January 7, 2016, the Operating Partnership issued and sold $150 million aggregate principal amount of senior notes, comprised of (i) $15,000,000 aggregate principal amount of 4.03% Senior Notes, Series A, due January 7, 2023 (the “Series A Notes”), (ii) $45,000,000 aggregate principal amount of 4.43% Senior Notes, Series B, due January 7, 2026 (the “Series B Notes”), (iii) $45,000,000 aggregate principal amount of 4.57% Senior Notes, Series C, due January 7, 2028 (the “Series C Notes”) and (iv) $45,000,000 aggregate principal amount of 4.74% Senior Notes, Series D, due January 7, 2031 (the “Series D Notes,” and together with the Series A Notes, the Series B Notes and the Series C Notes, the “Notes”). The proceeds of the Notes were used to repay borrowings under the Trust’s unsecured revolving credit facility and for general corporate and working capital purposes and funding acquisitions. On January 25, 2016, the Trust completed a follow-on public offering of 21,275,000 common shares of beneficial interest, including 2,775,000 common shares issued upon exercise of the underwriters’ overallotment option, resulting in net proceeds to it of approximately $320.9 million . The Trust contributed the net proceeds of this offering to its Operating Partnership in exchange for 21,275,000 OP Units, and its Operating Partnership used the net proceeds of the public offering to repay borrowings under its unsecured revolving credit facility and for general corporate and working capital purposes and funding acquisitions.

Quarterly Data

Quarterly Data	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Data	Note 15. Quarterly Data The following unaudited quarterly data has been prepared on the basis of a December 31 year-end. Amounts are in thousands, except for common share and per share amounts. Quarter Ended 2015 March 31 June 30 September 30 December 31 Total revenues $ 24,484 $ 29,683 $ 34,870 $ 40,404 Operating (loss) income (459 ) 3,271 3,812 5,883 Net (loss) income (448 ) 3,297 3,983 5,909 Net (loss) income attributable to common shareholders (522 ) 2,571 3,404 5,146 Earnings per share – basic: Net (loss) income available to common shareholders $ (0.01 ) $ 0.04 $ 0.05 $ 0.06 Weighted average common shares outstanding 65,649,478 70,376,959 71,034,747 83,761,536 Earnings per share – diluted: Net (loss) income available to common shareholder $ (0.01 ) $ 0.04 $ 0.05 $ 0.06 Weighted average common shares outstanding 65,649,478 74,267,284 75,104,821 87,911,097 As a result of the acquisition activity and equity offerings throughout 2015, the quarterly periods are not comparable quarter over quarter. Quarter Ended 2014 March 31 June 30 September 30 December 31 Total revenues $ 8,032 $ 11,447 $ 14,161 $ 19,694 Operating loss (income) (3,575 ) (626 ) (2,311 ) 1,967 Net loss (income) (3,558 ) (600 ) (2,251 ) 1,991 Net loss (income) available to common shareholders (3,093 ) (561 ) (2,094 ) 1,711 Earnings per share – basic: Net (loss) income available to common shareholders $ (0.15 ) $ (0.02 ) $ (0.06 ) $ 0.04 Weighted average common shares outstanding 21,298,597 26,163,982 36,313,644 48,145,409 Earnings per share – diluted: Net (loss) income available to common shareholders $ (0.15 ) $ (0.02 ) $ (0.06 ) $ 0.04 Weighted average common shares outstanding 21,298,597 26,163,982 36,313,644 48,354,493

SCHEDULE III - REAL ESTATE AND

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION	12 Months Ended
	Dec. 31, 2015
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION	Initial Cost to Company Gross Amount at Which Carried as of Close of Period Description Location Encumbrances Land Buildings and Improvements Cost Capitalized Subsequent to Acquisitions Land Buildings and Improvements Total Accumulated Depreciation Date of Construction Date Acquired Life on Which Building Depreciation in Income Statement is Computed Arrowhead Commons Phoenix, AZ $ — $ 740 $ 2,551 $ 420 $ 740 $ 2,971 $ 3,711 $ (427 ) 2004 5/31/2008 46 Aurora Medical Office Building Green Bay, WI — 500 1,566 — 500 1,566 2,066 (180 ) 2010 4/15/2010 50 Austell Medical Office Building Atlanta, GA — 289 1,992 334 289 2,326 2,615 (482 ) 1971 6/30/2008 36 Canton Medical Office Building Atlanta, GA 6,099 710 7,225 114 710 7,339 8,049 (2,095 ) 1994 5/25/2007 35 Decatur Medical Office Building Atlanta, GA — 740 2,604 44 740 2,648 3,388 (774 ) 1974 10/12/2007 28 El Paso Medical Office Building El Paso, TX — 860 2,866 369 860 3,235 4,095 (1,465 ) 1987 8/24/2006 21 Farmington Professional Pavilion Detroit, MI — 580 1,793 110 580 1,903 2,483 (1,204 ) 1972 1/5/2006 15 Firehouse Square Milwaukee, WI 2,699 1,120 2,768 — 1,120 2,768 3,888 (777 ) 2002 8/15/2007 30 Hackley Medical Center Grand Rapids, MI 5,283 1,840 6,402 36 1,840 6,438 8,278 (1,908 ) 1968 12/22/2006 30 MeadowView Professional Center Kingsport, TN 10,225 2,270 11,344 — 2,270 11,344 13,614 (3,300 ) 2005 5/10/2007 30 Mid Coast Hospital MOB Portland, ME 7,656 — 11,247 20 — 11,267 11,267 (2,854 ) 2008 5/1/2008 42 New Albany Professional Building Columbus, OH — 237 2,767 317 237 3,084 3,321 (550 ) 2000 1/4/2008 42 Northpark Trail Atlanta, GA — 839 1,245 235 839 1,480 2,319 (582 ) 2001 12/28/2005 35 Remington Medical Commons Chicago, IL 4,262 895 6,499 319 895 6,818 7,713 (1,719 ) 2008 6/1/2008 30 Summit Healthplex Atlanta, GA — 2,633 15,576 5,012 2,633 20,588 23,221 (4,311 ) 2002 7/3/2008 44 Valley West Hospital MOB Chicago, IL 4,768 — 6,275 611 — 6,886 6,886 (1,845 ) 2007 11/1/2007 30 East El Paso Medical Office Building El Paso, TX — 710 4,500 — 710 4,500 5,210 (300 ) 2004 8/30/2013 35 East El Paso Surgical Hospital El Paso, TX — 3,070 23,627 — 3,070 23,627 26,697 (1,531 ) 2004 8/30/2013 36 LifeCare Plano LTACH Plano, TX — 3,370 11,689 455 3,370 12,144 15,514 (1,115 ) 1987 9/18/2013 25 Crescent City Surgical Centre New Orleans, LA 18,750 — 34,208 — — 34,208 34,208 (1,604 ) 2010 9/30/2013 48 Foundation Surgical Affiliates Medical Office Building Oklahoma City, OK 7,474 1,300 12,724 — 1,300 12,724 14,024 (666 ) 2004 9/30/2013 43 Pensacola Medical Office Building Pensacola, FL — 990 5,005 15 990 5,020 6,010 (230 ) 2012 10/4/2013 49 Central Ohio Neurosurgical Surgeons Medical Office Columbus, OH — 981 7,620 — 981 7,620 8,601 (361 ) 2007 11/27/2013 44 Great Falls Ambulatory Surgery Center Great Falls, MT — 203 3,224 — 203 3,224 3,427 (199 ) 1999 12/11/2013 33 Eagles Landing Family Practice Medical Office Building McDonough, GA — 800 3,345 1,548 800 4,893 5,693 (254 ) 2007 2/19/2014 36 Eagles Landing Family Practice Medical Office Building Jackson, GA — 800 3,345 1,255 800 4,600 5,400 (227 ) 2006 2/19/2014 38 Eagles Landing Family Practice Medical Office Building Conyers, GA — 1,000 3,345 — 1,000 3,345 4,345 (172 ) 2008 2/19/2014 37 Eagles Landing Family Practice Medical Office Building McDonough, GA — 400 3,345 1,741 400 5,086 5,486 (254 ) 2010 2/19/2014 37 Foundation San Antonio Surgical Hospital San Antonio, TX 9,120 2,230 23,346 23 2,230 23,369 25,599 (1,395 ) 2007 2/19/2014 35 21st Century Radiation Oncology Centers — Sarasota Sarasota, FL — 633 6,557 — 633 6,557 7,190 (464 ) 1975 2/26/2014 27 21st Century Radiation Oncology Centers - Venice Venice, FL — 814 2,952 — 814 2,952 3,766 (174 ) 1987 2/26/2014 35 Initial Cost to Company Gross Amount at Which Carried as of Close of Period Description Location Encumbrances Land Buildings and Improvements Cost Capitalized Subsequent to Acquisitions Land Buildings and Improvements Total Accumulated Depreciation Date of Construction Date Acquired Life on Which Building Depreciation in Income Statement is Computed 21st Century Radiation Oncology Centers - Engelwood Engelwood, FL — 350 1,878 — 350 1,878 2,228 (100 ) 1992 2/26/2014 38 21st Century Radiation Oncology Centers — Port Charlotte Port Charlotte, FL — 269 2,326 — 269 2,326 2,595 (125 ) 1996 2/26/2014 36 Foundation San Antonio Healthplex San Antonio, TX — 911 4,189 — 911 4,189 5,100 (230 ) 2007 2/28/2014 35 Peachtree Dunwoody Medical Center Atlanta, GA — 6,046 27,435 54 6,046 27,489 33,535 (2,063 ) 1987 2/28/2014 25 LifeCare LTACH — Fort Worth Fort Worth, TX — 2,730 24,639 — 2,730 24,639 27,369 (1,476 ) 1985 3/28/2014 30 LifeCare LTACH — Pittsburgh Pittsburgh, PA — 1,142 11,737 — 1,142 11,737 12,879 (735 ) 1987 3/28/2014 30 PinnacleHealth Medical Office Building Harrisburg, PA — 795 4,601 — 795 4,601 5,396 (332 ) 1990 4/22/2014 25 Pinnacle Health Medical Office Building Carlisle, PA — 424 2,232 — 424 2,232 2,656 (116 ) 2002 4/22/2014 35 South Bend Orthopaedics Medical Office Building Mishawaka, IN — 2,418 11,355 — 2,418 11,355 13,773 (543 ) 2007 4/30/2014 40 Grenada Medical Complex Grenada, MS — 185 5,820 50 185 5,870 6,055 (381 ) 1975 4/30/2014 30 Mississippi Ortho Medical Office Building Jackson, MS — 1,272 14,177 626 1,272 14,803 16,075 (713 ) 1987 5/23/2014 35 Carmel Medical Pavilion Carmel, IN — — 3,917 — — 3,917 3,917 (262 ) 1993 5/28/2014 25 Renaissance Ambulatory Surgery Center Oshkosh, WI — 228 7,658 — 228 7,658 7,886 (298 ) 2007 6/30/2014 40 Presbyterian Medical Plaza Monroe, NC — 1,195 5,681 6 1,195 5,687 6,882 (202 ) 2008 6/30/2014 15 Summit Urology Bloomington, IN — 125 4,792 — 125 4,792 4,917 (246 ) 1996 6/30/2014 30 500 Landmark Bloomington, IN — 627 3,549 — 627 3,549 4,176 (158 ) 2000 7/1/2014 35 550 Landmark Bloomington, IN — 2,717 15,224 — 2,717 15,224 17,941 (680 ) 2000 7/1/2014 35 574 Landmark Bloomington, IN — 418 1,493 — 418 1,493 1,911 (68 ) 2004 7/1/2014 35 Carlisle II MOB Carlisle, PA — 412 3,962 — 412 3,962 4,374 (131 ) 1996 7/25/2014 45 Surgical Institute of Monroe Monroe, MI — 410 5,743 — 410 5,743 6,153 (273 ) 2010 7/28/2014 35 The Oaks Lady Lake Lady Lake, FL — 1,065 8,642 — 1,065 8,642 9,707 (294 ) 2011 7/31/2014 42 Mansfield ASC Mansfield, TX — 1,491 6,471 — 1,491 6,471 7,962 (207 ) 2010 9/2/2014 46 Eye Center of Southern Indiana Bloomington, IN — 910 11,477 — 910 11,477 12,387 (453 ) 1995 9/5/2014 35 Wayne State Troy, MI — 3,560 43,052 — 3,560 43,052 46,612 (1,568 ) 1986 9/10/2014 38 Zangmeister Columbus, OH — 1,610 31,120 — 1,610 31,120 32,730 (1,017 ) 2007 9/30/2014 40 Orthopedic One - Columbus Columbus, OH — — 16,234 7 — 16,241 16,241 (503 ) 2009 9/30/2014 45 Orthopedic One - Westerville Columbus, OH — 362 3,944 — 362 3,944 4,306 (126 ) 2007 9/30/2014 43 Berger Medical Center Columbus, OH — — 5,950 — — 5,950 5,950 (216 ) 2007 9/30/2014 38 El Paso - Lee Trevino El Paso, TX — 2,294 11,316 365 2,294 11,681 13,975 (514 ) 1983 9/30/2014 30 El Paso - Murchison El Paso, TX — 2,283 24,543 27 2,283 24,570 26,853 (1,055 ) 1970 9/30/2014 30 El Paso - Kenworthy El Paso, TX — 728 2,178 — 728 2,178 2,906 (87 ) 1983 9/30/2014 35 Pinnacle - 32 Northeast Harrisburg, PA — 408 3,232 12 408 3,244 3,652 (128 ) 1994 10/29/2014 33 Pinnacle - 4518 Union Deposit Harrisburg, PA — 617 7,305 — 617 7,305 7,922 (295 ) 2000 10/29/2014 31 Initial Cost to Company Gross Amount at Which Carried as of Close of Period Description Location Encumbrances Land Buildings and Improvements Cost Capitalized Subsequent to Acquisitions Land Buildings and Improvements Total Accumulated Depreciation Date of Construction Date Acquired Life on Which Building Depreciation in Income Statement is Computed Pinnacle - 4520 Union Deposit Harrisburg, PA — 169 2,055 — 169 2,055 2,224 (90 ) 1997 10/29/2014 28 Pinnacle - 240 Grandview Harrisburg, PA — 321 4,242 — 321 4,242 4,563 (151 ) 1980 10/29/2014 35 Pinnacle - Market Place Way Harrisburg, PA — 808 2,383 6 808 2,389 3,197 (115 ) 2004 10/29/2014 35 CRHS - 2000 10th Avenue Columbus, GA — 380 2,737 — 380 2,737 3,117 (152 ) 1989 11/20/2014 22 CRHS - 1942 North Avenue Columbus, GA — 91 273 — 91 273 364 (26 ) 1971 11/20/2014 12 CRHS - 920 18th Street Columbus, GA — 110 281 — 110 281 391 (40 ) 1982 11/20/2014 8 CRHS - 1900 10th Avenue Columbus, GA — 474 5,580 5 474 5,585 6,059 (247 ) 1976 11/20/2014 26 CRHS - 1800 10th Avenue Columbus, GA — 539 5,238 — 539 5,238 5,777 (216 ) 1980 11/20/2014 28 CRHS - 705 17th Street Columbus, GA — 372 2,346 278 372 2,624 2,996 (189 ) 1994 11/20/2014 15 CRHS - 615 19th Street Columbus, GA — 75 113 — 75 113 188 (39 ) 1976 11/20/2014 3 CRHS - 1968 North Avenue Columbus, GA — 89 32 — 89 32 121 (9 ) 1966 11/20/2014 4 CRHS - 633 19th Street Columbus, GA — 99 255 — 99 255 354 (33 ) 1972 11/20/2014 9 CRHS - 500 18th Street Columbus, GA — 430 170 — 430 170 600 (39 ) 1982 11/20/2014 8 CRHS - 2200 Hamilton Road Columbus, GA — 267 1,579 — 267 1,579 1,846 (86 ) 1992 11/20/2014 22 CRHS - 1810 Stadium Drive Phenix City, AL — 202 149 19 202 168 370 (31 ) 1999 11/20/2014 30 Carle Danville MOB Danville, IL — 607 7,136 — 607 7,136 7,743 (250 ) 2007 11/26/2014 33 Middletown Medical - 111 Maltese Middletown, NY — 670 9,921 37 670 9,958 10,628 (319 ) 1988 11/28/2014 35 Middletown Medical - 2 Edgewater Middletown, NY — 200 2,966 11 200 2,977 3,177 (96 ) 1992 11/28/2014 35 Napoleon Medical Office Building New Orleans, LA — 1,202 7,412 79 1,202 7,491 8,693 (318 ) 1974 12/19/2014 25 West TN Bone & Joint - Physicians Drive Jackson, TN — 650 2,960 — 650 2,960 3,610 (90 ) 1991 12/30/2014 35 West TN Bone & Joint Jackson, TN — 1,250 5,210 — 1,250 5,210 6,460 (181 ) 1996 12/30/2014 31 Edina MOB Edina MN — 504 10,006 208 504 10,214 10,718 (513 ) 1979 1/22/2015 24 Crystal MOB Crystal, MN — 945 11,862 1 945 11,863 12,808 (276 ) 2012 1/22/2015 47 Savage MOB Savage, MN 5,753 1,281 10,021 — 1,281 10,021 11,302 (242 ) 2011 1/22/2015 48 Dell Road MOB Chanhassen, MN — 800 4,520 — 800 4,520 5,320 (120 ) 2008 1/22/2015 43 Columbus MOB Columbus, GA — 845 2,708 — 845 2,708 3,553 (148 ) 1980 1/23/2015 22 Methodist Sports MOB Greenwood, IN — 1,050 8,556 — 1,050 8,556 9,606 (250 ) 2008 1/28/2015 33 Vadnais Heights MOB Vadnais Heights, MN — 2,751 12,233 — 2,751 12,233 14,984 (336 ) 2013 1/29/2015 43 Minnetonka MOB Minnetonka, MN — 1,770 19,797 — 1,770 19,797 21,567 (458 ) 2014 2/5/2015 49 Jamestown MOB Jamestown, ND — 656 9,440 — 656 9,440 10,096 (269 ) 2013 2/5/2015 43 Indiana American II Greenwood, IN — 862 6,901 — 862 6,901 7,763 (185 ) 2008 2/13/2015 38 Indiana American III Greenwood, IN — 741 1,846 185 741 2,031 2,772 (93 ) 2001 2/13/2015 31 Indiana American IV Greenwood, IN — 771 1,928 3 771 1,931 2,702 (63 ) 2001 2/13/2015 31 Southpointe Indianapolis, IN — 563 1,741 1 563 1,742 2,305 (77 ) 1993 2/13/2015 27 Minnesota Eye MOB Minnetonka, MN — 1,143 7,470 — 1,143 7,470 8,613 (174 ) 2014 2/17/2015 44 Baylor Cancer Center Dallas, TX — 855 6,007 — 855 6,007 6,862 (125 ) 2001 2/27/2015 43 Bridgeport Medical Center Lakewood, WA — 1,397 10,435 — 1,397 10,435 11,832 (264 ) 2004 2/27/2015 35 Initial Cost to Company Gross Amount at Which Carried as of Close of Period Description Location Encumbrances Land Buildings and Improvements Cost Capitalized Subsequent to Acquisitions Land Buildings and Improvements Total Accumulated Depreciation Date of Construction Date Acquired Life on Which Building Depreciation in Income Statement is Computed Renaissance Office Building Milwaukee, WI — 1,379 4,182 1,178 1,379 5,360 6,739 (240 ) 1896 3/27/2015 15 Calkins 125 Rochester, NY — 534 10,164 — 534 10,164 10,698 (315 ) 1997 3/31/2015 32 Calkins 200 Rochester, NY — 210 3,317 — 210 3,317 3,527 (88 ) 2000 3/31/2015 38 Calkins 300 Rochester, NY — 372 6,645 — 372 6,645 7,017 (178 ) 2002 3/31/2015 39 Calkins 400 Rochester, NY — 353 8,226 — 353 8,226 8,579 (235 ) 2007 3/31/2015 39 Calkins 500 Rochester, NY — 282 7,074 5 282 7,079 7,361 (160 ) 2008 3/31/2015 41 Avalon Park Florida Hospital MOB Avalon Park, FL — 1,041 10,685 — 1,041 10,685 11,726 (213 ) 2009 3/31/2015 41 Premier Surgery Center of Louisville Louisville, KY — 1,106 5,437 — 1,106 5,437 6,543 (102 ) 2013 4/10/2015 43 Baton Rouge MOB Baton Rouge, LA — 711 7,720 — 711 7,720 8,431 (173 ) 2003 4/15/2015 35 Healthpark Medical Center Grand Blanc, MI — — 17,624 — — 17,624 17,624 (358 ) 2006 4/30/2015 36 Plaza HCA MOB Jacksonville, FL 11,837 1,112 12,553 — 1,112 12,553 13,665 (226 ) 2007 4/30/2015 39 Northern Ohio Medical Center Sheffield, OH — 644 9,162 — 644 9,162 9,806 (277 ) 1999 5/28/2015 20 University of Michigan - Northville MOB Livonia, MI — 2,200 8,627 31 2,200 8,658 10,858 (180 ) 1988 5/29/2015 30 Coon Rapids Medical Center MOB Coon Rapids, MN — 607 5,857 — 607 5,857 6,464 (106 ) 2007 6/1/2015 35 Premier Landmark MOB Bloomington, IN — 872 10,537 — 872 10,537 11,409 (165 ) 2008 6/5/2015 39 Palm Beach ASC Palm Beach, FL — 2,576 7,675 — 2,576 7,675 10,251 (101 ) 2003 6/26/2015 40 Brookstone Physician Center MOB Jacksonville, AL — — 1,913 — — 1,913 1,913 (33 ) 2007 6/30/2015 31 Jackson Woman's Clinic MOB Jackson, TN — 555 3,800 — 555 3,800 4,355 (58 ) 1998 6/30/2015 35 Hillside Medical Center MOB Hanover, PA — 812 13,217 — 812 13,217 14,029 (138 ) 2003 6/30/2015 35 Randall Road MOB Elgin, IL — — 15,404 — — 15,404 15,404 (191 ) 2006 6/30/2015 38 Medical Specialists of Palm Beach MOB Atlantis, FL — — 7,560 — — 7,560 7,560 (91 ) 2002 7/24/2015 37 OhioHealth - SW Health Center MOB Grove City, OH — 1,363 8,516 — 1,363 8,516 9,879 (110 ) 2001 7/31/2015 37 Trios Health MOB Kennewick, WA — — 55,178 — — 55,178 55,178 (525 ) 2015 7/31/2015 45 IMS - Paradise Valley MOB Phoenix, AZ — — 25,893 — — 25,893 25,893 (282 ) 2004 8/14/2015 43 IMS - Avondale MOB Avondale, AZ — 1,818 18,108 — 1,818 18,108 19,926 (145 ) 2006 8/19/2015 45 IMS - Palm Valley MOB Goodyear, AZ — 2,666 28,655 — 2,666 28,655 31,321 (240 ) 2006 8/19/2015 43 IMS - North Mountain MOB Phoenix, AZ — — 42,877 — — 42,877 42,877 (335 ) 2008 8/31/2015 47 Memorial Hermann - Phase I Katy, TX — 822 6,797 — 822 6,797 7,619 (62 ) 2005 9/1/2015 39 Memorial Hermann - Phase II Katy, TX — 1,560 25,601 — 1,560 25,601 27,161 (224 ) 2006 9/1/2015 40 New Albany Medical Center MOB New Albany, OH — 1,600 8,505 — 1,600 8,505 10,105 (87 ) 2005 9/9/2015 37 Fountain Hills Medical Campus MOB Fountain Hills, AZ — 2,593 7,635 — 2,593 7,635 10,228 (55 ) 1995 9/30/2015 39 Fairhope MOB Fairhope, AL — 640 5,227 — 640 5,227 5,867 (39 ) 2005 10/13/2015 38 Foley MOB Foley, AL — 365 732 — 365 732 1,097 (5 ) 1997 10/13/2015 40 Foley Venture Foley, AL — 420 1,118 — 420 1,118 1,538 (8 ) 2002 10/13/2015 38 Initial Cost to Company Gross Amount at Which Carried as of Close of Period Description Location Encumbrances Land Buildings and Improvements Cost Capitalized Subsequent to Acquisitions Land Buildings and Improvements Total Accumulated Depreciation Date of Construction Date Acquired Life on Which Building Depreciation in Income Statement is Computed North Okaloosa MOB Crestview, FL — 190 1,010 — 190 1,010 1,200 (7 ) 2005 10/13/2015 41 Commons on North Davis Pensacola, FL — 380 1,237 — 380 1,237 1,617 (8 ) 2009 10/13/2015 41 Sorrento Road Pensacola, FL — 170 894 — 170 894 1,064 (6 ) 2010 10/13/2015 41 Breakfast Point Medical Park Panama City, FL — — 817 — — 817 817 (5 ) 2012 10/13/2015 42 Panama City Beach Panama City, FL — — 739 — — 739 739 (5 ) 2012 10/13/2015 42 Perdido Medical Park Pensacola, FL — 100 1,147 — 100 1,147 1,247 (8 ) 2010 10/13/2015 41 Ft. Walton Beach Ft. Walton Beach, FL — 230 914 — 230 914 1,144 (7 ) 1979 10/13/2015 35 Panama City Panama City, FL — — 661 — — 661 661 (5 ) 2003 10/13/2015 38 Pensacola - Catalyst Pensacola, FL — 220 1,685 — 220 1,685 1,905 (12 ) 2001 10/13/2015 39 Arete Surgical Center Johnstown, CO — 399 6,667 — 399 6,667 7,066 (26 ) 2013 10/19/2015 45 Cambridge Professional Center MOB Waldorf, MD — 590 8,520 — 590 8,520 9,110 (45 ) 1999 10/30/2015 35 HonorHealth 44th Street MOB Phoenix, AZ — 515 3,884 — 515 3,884 4,399 (24 ) 1988 11/13/2015 28 Mercy Medical Center MOB Fenton, MO — 1,201 6,778 — 1,201 6,778 7,979 (15 ) 1999 12/1/2015 40 Nashville MOB Nashville, TN — 1,555 39,713 — 1,555 39,713 41,268 — 2015 12/17/2015 45 KSF Orthopaedic MOB Houston, TX — 530 3,712 — 530 3,712 4,242 — 1984 12/22/2015 19 Great Falls Clinic MOB Great Falls, MT — — 27,402 — — 27,402 27,402 — 2004 12/29/2015 40 $ 93,926 $ 130,788 $ 1,277,934 $ 16,172 $ 130,788 $ 1,294,106 $ 1,424,894 $ (61,242 ) The cost capitalized subsequent to acquisitions is net of dispositions. The changes in total real estate for the years ended December 31, 2015 , 2014 and 2013 are as follows (in thousands): Year Ended December 31, 2015 2014 2013 Balance as of the beginning of the year $ 729,034 $ 224,730 $ 111,149 Acquisitions 695,693 505,379 113,225 Additions 4,440 900 806 Impairment — (1,750 ) — Dispositions (4,273 ) (225 ) (450 ) Balance as of the end of the year $ 1,424,894 $ 729,034 $ 224,730 The changes in accumulated depreciation for the years ended December 31, 2015 , 2014 and 2013 are as follows (in thousands): Year Ended December 31, 2015 2014 2013 Balance as of the beginning of the year $ 32,772 $ 20,299 $ 16,495 Acquisitions 9,512 6,575 694 Additions 20,446 5,898 3,110 Dispositions (1,488 ) — — Balance as of the end of the year $ 61,242 $ 32,772 $ 20,299

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation GAAP requires the Trust to identify entities for which control is achieved through means other than voting rights and to determine which business enterprise is the primary beneficiary of variable interest entities (“VIEs”). A VIE is broadly defined as an entity with one or more of the following characteristics: (a) the total equity investment at risk is insufficient to finance the entity’s activities without additional subordinated financial support; (b) as a group, the holders of the equity investment at risk lack (i) the ability to make decisions about the entity’s activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; or (c) the equity investors have voting rights that are not proportional to their economic interests, and substantially all of the entity’s activities either involve, or are conducted on behalf of, an investor that has disproportionately few voting rights. The Trust consolidates its investment in a VIE when it determines that it is its primary beneficiary. The Trust may change its original assessment of a VIE upon subsequent events such as the modification of contractual arrangements that affect the characteristics or adequacy of the entity’s equity investments at risk and the disposition of all or a portion of an interest held by the primary beneficiary. The Trust identifies the primary beneficiary of a VIE as the enterprise that has both: (i) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance; and (ii) the obligation to absorb losses or the right to receive benefits of the VIE that could be significant to the entity. The Trust performs this analysis on an ongoing basis. For property holding entities not determined to be VIEs, the Trust consolidates such entities in which the Trust or the Operating Partnership owns 100% of the equity or has a controlling financial interest evidenced by ownership of a majority voting interest. All intercompany balances and transactions are eliminated in consolidation. For entities in which the Trust owns less than 100% of the equity interest, the Trust consolidates the property if it has the direct or indirect ability to control the entities’ activities based upon the terms of the respective entities’ ownership agreements. For these entities, the Trust records a noncontrolling interest representing equity held by noncontrolling interests.
Noncontrolling Interests	Noncontrolling Interests The Trust presents the portion of any equity it does not own in entities that it controls (and thus consolidates) as noncontrolling interests and classifies such interests as a component of consolidated equity, separate from the Trust’s total shareholders’ equity, on the consolidated balance sheets. Operating Partnership: Net income or loss is allocated to noncontrolling interests based on their respective ownership percentage of the Operating Partnership. The ownership percentage is calculated by dividing the number of OP Units held by the noncontrolling interests by the total OP Units held by the noncontrolling interests and the Trust. Issuance of additional Common Shares and OP Units changes the ownership interests of both the noncontrolling interests and the Trust. Such transactions and the related proceeds are treated as capital transactions. In connection with the closing of the IPO, the Trust and the Operating Partnership completed related formation transactions pursuant to which the Operating Partnership acquired from the Ziegler Funds, the Ziegler Funds’ ownership interests in 19 medical office buildings located in ten states in exchange for an aggregate of 2,744,000 OP Units and the payment of approximately $36.9 million of debt related to such properties. During the year ended December 31, 2013, the Operating Partnership partially funded one property acquisition by issuing 954,877 OP Units valued at approximately $11.5 million on the date of issuance. The acquisition had a total purchase price of approximately $37.5 million. During the year ended December 31, 2014, the Operating Partnership partially funded five property acquisitions by issuing an aggregate of 2,042,313 OP Units valued at approximately $28.6 million on the date of issuance. The five acquisitions had a total purchase price of approximately $103.6 million . During the year ended December 31, 2015, the Operating Partnership partially funded three property acquisitions by issuing an aggregate of 648,649 OP Units valued at approximately $11.0 million on the date of issuance. The three acquisitions had a total purchase price of approximately $32.5 million. Noncontrolling interests in the Trust represent OP Units held by the Predecessor’s prior investors and other investors. As of December 31, 2015 , the Trust held a 95.7% interest in the Operating Partnership. As the sole general partner and the majority interest holder, the Trust consolidates the financial position and results of operation of the Operating Partnership. Holders of OP Units may not transfer their units without the Trust’s prior written consent, as general partner of the Operating Partnership. Beginning on the first anniversary of the issuance of OP Units, OP Unit holders may tender their units for redemption by the Operating Partnership in exchange for cash equal to the market price of the Trust’s common shares at the time of redemption or for unregistered common shares on a one -for-one basis. Such selection to pay cash or issue common shares to satisfy an OP Unit holder’s redemption request is solely within the control of the Trust. Accordingly, the Trust presents the OP Units of the Operating Partnership held by the Predecessor’s prior investors and other investors as noncontrolling interests within equity in the consolidated balance sheet. Partially Owned Properties: The Trust reflects noncontrolling interests in partially owned properties on the balance sheet for the portion of properties consolidated by the Trust that are not wholly owned by the Trust. The earnings or losses from those properties attributable to the noncontrolling interests are reflected as noncontrolling interests in partially owned properties in the consolidated and combined statement of operations. Redeemable Noncontrolling Interests - Operating Partnership and Partially Owned Properties On February 5, 2015, the Trust entered into a Second Amended and Restated Agreement of Limited Partnership (the “Partnership Agreement”) which provides for the designation and issuance of the newly designated Series A Participating Redeemable Preferred Units of the Operating Partnership (“Series A Preferred Units”). Series A Preferred Units have priority over all other partnership interests of the Operating Partnership with respect to distributions and liquidation. Holders of Series A Preferred Units are entitled to a 5% cumulative return and upon redemption, the receipt of one common share and $200 . The holders of the Series A Preferred Units have agreed not to cause the Operating Partnership to redeem their Series A Preferred Units prior to one year from the issuance date. In addition, Series A Preferred Units are redeemable at the option of the holders which redemption obligation may be satisfied, at the Trust’s option, in cash or registered common shares. Instruments that require settlement in registered common shares may not be classified in permanent equity as it is not always completely within an issuer’s control to deliver registered common shares. Due to the redemption rights associated with the Series A Preferred Units, the Trust classifies the Series A Preferred Units in the mezzanine section of its consolidated balance sheet. On February 5, 2015, the acquisition of the Minnetonka MOB was partially funded with the issuance of 44,685 Series A Preferred Units which are valued at $9.7 million . On December 17, 2015, the acquisition of the Nashville MOB was partially funded with the issuance of 91,236 Series A Preferred Units which are valued at $19.7 million . The Series A Preferred Units were evaluated for embedded features that should be bifurcated and separately accounted for as a freestanding derivative. The Trust determined that the Series A Preferred Units contained features that require bifurcation. The fair value of the embedded derivative is $8.1 million and is included on the Trust’s consolidated balance sheets in accrued expenses and other liabilities. In connection with the acquisition of the Minnetonka MOB, the Trust received a $5 million equity investment from a third party, effective March 1, 2015. This investment earns a 15% cumulative preferred return. At any point subsequent to the third anniversary of the investment, the holder can require the Trust to redeem the instrument at a price for which the investor will realize a 15% internal rate of return. Due to the redemption provision, which is outside of the control of the Trust, the Trust classifies the investment in the mezzanine section of its consolidated balance sheet. The Trust records the carrying amount of the redeemable noncontrolling interests at the greater of the carrying value or redemption value.
Dividends and Distributions	Dividends and Distributions Declaration Date Record Date Payment Date Cash Dividend per Share/Unit December 31, 2015 January 15, 2016 January 29, 2016 $ 0.225 September 28, 2015 October 16, 2015 October 30, 2015 $ 0.225 July 1, 2015 July 17, 2015 July 31, 2015 $ 0.225 April 6, 2015 April 17, 2015 May 1, 2015 $ 0.225 December 30, 2014 January 23, 2015 February 6, 2015 $ 0.225 September 26, 2014 October 17, 2014 October 30, 2014 $ 0.225 June 26, 2014 July 18, 2014 August 1, 2014 $ 0.225 March 27, 2014 April 11, 2014 April 25, 2014 $ 0.225 December 30, 2013 January 24, 2014 February 7, 2014 $ 0.225 September 30, 2013 October 18, 2013 November 1, 2013 $ 0.180 (1) (1) Prorated cash dividend of $0.18 per share for the quarterly period from July 19, 2013 (the date of the IPO) through September 30, 2013, which was equivalent to a full quarterly dividend of $0.225 per share. The dividend was paid on November 1, 2013 to common shareholders and common OP Unit holders of record on October 18, 2013, with the exception of the OP Units issued in the acquisition of Crescent City Surgical Centre.
Purchase of Investment Properties	Purchase of Investment Properties A property acquired not subject to an existing lease is treated as an asset acquisition and recorded at its purchase price, inclusive of acquisition costs, allocated between the acquired tangible assets and assumed liabilities based upon their relative fair values at the date of acquisition. A property acquired with an existing lease is accounted for as a business combination pursuant to the acquisition method in accordance with ASC Topic 805, Business Combinations (“ASC 805”), and assets acquired and liabilities assumed, including identified intangible assets and liabilities, are recorded at fair value. The determination of fair value involves the use of significant judgment and estimation. The Trust makes estimates of the fair value of the tangible and intangible acquired assets and assumed liabilities using information obtained from multiple sources as a result of pre-acquisition due diligence and may include the assistance of a third party appraiser. The Trust estimates the fair value of buildings acquired on an as-if-vacant basis and depreciates the building value over the estimated remaining life of the building. The Trust determines the allocated value of other fixed assets, such as site improvements, based upon the replacement cost and depreciates such value over the assets’ estimated remaining useful lives as determined at the applicable acquisition date. The fair value of land is determined either by considering the sales prices of similar properties in recent transactions or based on internal analyses of recently acquired and existing comparable properties within the Trust’s portfolio. In recognizing identified intangible assets and liabilities in connection with a business combination, the value of above-or-below market leases is estimated based on the present value (using an interest rate which reflected the risks associated with the leases acquired) of the difference between contractual amounts to be received pursuant to the leases and management’s estimate of market lease rates measured over a period equal to the estimated remaining term of the lease. The capitalized above-market or below-market lease intangibles are amortized as a reduction or addition to rental income over the estimated remaining term of the respective leases. In determining the value of in-place leases, management considers current market conditions and costs to execute similar leases in arriving at an estimate of the carrying costs during the expected lease-up period from vacant to existing occupancy. In estimating carrying costs, management includes real estate taxes, insurance, other operating expenses, estimates of lost rental revenue during the expected lease-up periods, and costs to execute similar leases, including leasing commissions, tenant improvements, legal, and other related costs based on current market demand. The values assigned to in-place leases are amortized over the estimated remaining term of the lease. The values assigned to all lease intangible assets and liabilities are amortized over the estimated remaining term of the lease. If a lease terminates prior to its scheduled expiration, all unamortized costs related to that lease are written off. The Trust calculates the fair value of any long-term debt assumed by discounting the remaining contractual cash flows on each instrument at the current market rate for those borrowings, which the Trust approximates based on the rate at which it would expect to incur on a replacement instrument on the date of acquisition, and recognize any fair value adjustments related to long-term debt as effective yield adjustments over the remaining term of the instrument. Based on these estimates, the Trust recognizes the acquired assets and assumed liabilities at their estimated fair values, which are generally determined using Level 3 inputs, such as market rental rates, capitalization rates, discount rates, or other available market data. Initial valuations are subject to change until the information is finalized, no later than 12 months from the acquisition date. The Trust expenses transaction costs associated with acquisitions accounted for as business combinations in the period incurred.
Impairment of Intangible and Long-Lived Assets	Impairment of Intangible and Long-Lived Assets The Trust periodically evaluates its long-lived assets, primarily consisting of investments in real estate, for impairment indicators or whenever events or changes in circumstances indicate that the recorded amount of an asset may not be fully recoverable. If indicators of impairment are present, the Trust evaluates the carrying value of the related real estate properties in relation to the undiscounted expected future cash flows of the underlying operations. In performing this evaluation, management considers market conditions and current intentions with respect to holding or disposing of the real estate property. The Trust adjusts the net book value of real estate properties to fair value if the sum of the expected future undiscounted cash flows, including sales proceeds, is less than book value. The Trust recognizes an impairment loss at the time it makes any such determination. If the Trust determines that an asset is impaired, the impairment to be recognized is measured as the amount by which the recorded amount of the asset exceeds its fair value. Fair value is typically determined using a discounted future cash flow analysis or other acceptable valuation techniques, which are based, in turn, upon Level 3 inputs, such as revenue and expense growth rates, capitalization rates, discount rates or other available market data.
Assets Held for Sale and Discontinued Operations	Assets Held for Sale and Discontinued Operations The Trust may sell properties from time to time for various reasons, including favorable market conditions. The Trust classifies certain long-lived assets as held for sale once the criteria, as defined by GAAP, has been met. Long-lived assets to be disposed of are reported at the lower of their carrying amount or fair value minus cost to sell and are no longer depreciated. In 2014, the FASB issued Accounting Standards Update 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU 2014-08”), which raises the threshold for disposals to qualify as discontinued operations. A discontinued operation is defined as: (1) a component of an entity or group of components that has been disposed of or classified as held for sale and represents a strategic shift that has or will have a major effect on an entity’s operations and financial results; or (2) an acquired business that is classified as held for sale on the acquisition date. ASU 2014-08 also requires additional disclosures regarding discontinued operations, as well as material disposals that do not meet the definition of discontinued operations. The application of this guidance is prospective from the date of adoption and applies only to disposals (or new classifications to held for sale) that have not been reported as discontinued operations in the Trust’s previously issued financial statements. The Trust early adopted ASU 2014-08 for the quarter ended March 31, 2014. Such adoption has had no impact on the Trust’s financial statements as no dispositions that qualify as discontinued operations occurred during the year ended December 31, 2015 and 2014.
Investments in Unconsolidated Entities	Investments in Unconsolidated Entities The Trust reports investments in unconsolidated entities over whose operating and financial policies it has the ability to exercise significant influence under the equity method of accounting. Under this method of accounting, the Trust’s share of the investee’s earnings or losses is included in its consolidated and combined statements of operations. The initial carrying value of investments in unconsolidated entities is based on the amount paid to purchase the equity interest.
Real Estate Loans Receivable	Real Estate Loans Receivable Real estate loans receivable consists of seven mezzanine loans and a term loan. Each mezzanine loan is collateralized by an ownership interest in the respective borrower, while the term loan is secured by an equity interest in one medical office building development. Interest income on the loans are recognized as earned based on the terms of the loans subject to evaluation of collectability risks and are included in the Trust’s consolidated statement of operations.
Cash and Cash Equivalents	Cash and cash equivalents Cash and cash equivalents consist of cash on hand and short-term investments with maturities of three months or less from the date of purchase. The Trust is subject to concentrations of credit risk as a result of its temporary cash investments. The Trust places its temporary cash investments with high credit quality financial institutions in order to mitigate that risk.
Escrow Reserves	Escrow reserves The Trust is required to maintain various escrow reserves on certain notes payable to cover future property taxes and insurance and tenant improvements costs as defined in each loan agreement.
Deferred Costs	Deferred costs Deferred costs consist primarily of fees paid to obtain financing and costs associated with the origination of long-term leases on real estate properties. After the purchase of a property, lease commissions incurred to extend in-place leases or generate new lease are added to deferred lease costs. Deferred lease costs are amortized on a straight-line basis over the terms of their respective agreements. The Trust amortizes deferred financing costs as a component of interest expense over the terms of the related borrowings using a method that approximates a level yield.
Derivatives	Derivatives Derivatives consist of two embedded derivatives and an interest rate swap and are recognized as liabilities on the consolidated balance sheets in accrued expenses and other liabilities and are measured at fair value. For the interest rate swap any change in the fair value is recognized immediately in earnings unless the derivative qualified as a hedge and for the embedded derivatives any change in fair value is recognized in Redeemable noncontrolling interest – Operating Partnership and partially owned properties. No derivatives have been designated as hedges. The Trust is exposed to certain risks in the normal course of its business operations. One risk relating to the variability of interest on variable rate debt is managed through the use of derivatives. All derivative financial instruments are measured and reported in the consolidated balance sheets at fair value. The Trust has elected not to apply hedge accounting to its derivative financial instruments and as such, any changes in the fair values of its derivatives are recognized immediately in earnings. Generally, the Trust enters into swap relationships such that changes in the fair value or cash flows of items and transactions being hedged are expected to be offset by corresponding changes in the values of the derivatives.
Tenant Receivables, Net	Tenant receivables, net Tenant accounts receivable are stated net of the applicable allowance. Rental payments under these contracts are primarily due monthly. The Trust assesses the collectability of tenant receivables, including straight-line rent receivables, and defers recognition of revenue if collectability is not reasonably assured. The Trust bases its assessment of the collectability of rent receivables on several factors, including, among other things, payment history, the financial strength of the tenant and current economic conditions. If management’s evaluation of these factors indicates it is probable that the Trust will be unable to recover the full value of the receivable, the Trust provides a reserve against the portion of the receivable that it estimates may not be recovered.
Rental Revenue	Rental Revenue Rental revenue is recognized on a straight-line basis over the terms of the related leases when collectability is reasonably assured. Recognizing rental revenue on a straight-line basis for leases may result in recognizing revenue for amounts more or less than amounts currently due from tenants. Amounts recognized in excess of amounts currently due from tenants are included in other assets and were approximately $15.6 million and $6.4 million as of December 31, 2015 and 2014 , respectively. If the Trust determines that collectability of straight-line rents is not reasonably assured, the Trust limits future recognition to amounts contractually owed and, where appropriate, establishes an allowance for estimated losses. Rental revenue is adjusted by amortization of lease inducements and above or below market rents on certain leases. Lease inducements and above or below market rents are amortized over the average remaining life of the lease.
Expense Recoveries	Expense Recoveries Expense recoveries relate to tenant reimbursement of real estate taxes, insurance and other operating expenses that are recognized as expense recovery revenue in the period the applicable expenses are incurred. The reimbursements are recorded at gross, as the Trust is generally the primary obligor with respect to real estate taxes and purchasing goods and services from third-party suppliers and has discretion in selecting the supplier and bears the credit risk of tenant reimbursement. The Trust has certain tenants with absolute net leases. Under these lease agreements, the tenant is responsible for operating and building expenses. For absolute net leases, the Trust does not recognize expense recoveries.
Income Taxes	Income Taxes The Trust elected to be taxed as a REIT for federal tax purposes commencing with the filing of its tax return for the short taxable year ending December 31, 2013. The Trust had no taxable income prior to electing REIT status. To qualify as a REIT, the Trust must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its annual REIT taxable income to its shareholders (which is computed without regard to the dividends paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Trust generally will not be subject to federal income tax to the extent it distributes qualifying dividends to its shareholders. If the Trust fails to qualify as a REIT in any taxable year, it will be subject to federal income tax (including any applicable alternative minimum tax) on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost unless the Internal Revenue Service grants the Trust relief under certain statutory provisions. Such an event could materially adversely affect the Trust’s net income and net cash available for distribution to shareholders. However, the Trust intends to continue to operate in such a manner as to continue qualifying for treatment as a REIT. Even if the Trust continues to qualify for taxation as a REIT, the Trust may be subject to state and local taxes on its income and property and federal income and excise taxes on its undistributed income.
Management Estimates	Management Estimates The preparation of consolidated and combined financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated and combined financial statements and the amounts of revenue and expenses reported in the period. Significant estimates are made for the fair value assessments with respect to purchase price allocations, impairment assessments, and the valuation of financial instruments. Actual results could differ from these estimates.
Contingent Liabilities	Contingent Liability The Trust records a liability for contingent consideration (included in accrued expenses and other liabilities on its consolidated balance sheets) at fair value as of the acquisition date and reassess the fair value at the end of each reporting period, with any changes being recognized in earnings. Increases or decreases in the fair value of contingent consideration can result from changes in discount periods, discount rates and probabilities that contingencies will be met.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform to the current financial statement presentation, with no effect on the previously reported consolidated financial position or consolidated and combined results of operations.
Segment Reporting	Segment Reporting Under the provision of Codification Topic 280, Segment Reporting , the Company has determined that it has one reportable segment with activities related to leasing and managing healthcare properties.
New Accounting Pronouncements	New Accounting Pronouncements In May 2014, the FASB issued ASU 2014-9, Revenue from Contracts with Customers , which creates a new Topic, Accounting Standards Codification Topic 606. The standard is principle-based and provides a five-step model to determine when and how revenue is recognized. The core principle is that a company should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This standard is effective for interim or annual periods beginning after December 15, 2017 and allows for either full retrospective or modified retrospective adoption. Early adoption of this standard is permitted for reporting periods beginning after December 15, 2016. While the Trust is currently evaluating the impact the adoption of Topic 606 will have on its consolidated financial statements, we do not expect its adoption to have a significant impact on our consolidated financial statements, as a substantial portion of our revenue consists of rental income from leasing arrangements, which are specifically excluded from ASU 2014-09. In February 2015, the FASB issued ASU 2015-2, Amendments to the Consolidation Analysis . This update is intended to improve targeted areas of consolidation guidance by simplifying the consolidation evaluation process and by placing more emphasis on risk of loss when determining a controlling financial interest. The provisions of this ASU are effective for interim and annual periods beginning after December 15, 2015. The Company will adopt ASU 2015-2 on January 1, 2016, and it is not expected to have a material impact on the Company’s consolidated financial statements and disclosures. In April 2015, the FASB issued ASU 2015-3, Simplifying the Presentation of Debt Issuance Costs , which changes the presentation of debt issuance costs in financial statements. ASU 2015-3 requires an entity to present such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs will continue to be reported as interest expense. ASU 2015-3 is effective for annual reporting periods beginning after December 15, 2016. Early adoption is permitted. The new guidance will be applied retrospectively to each prior period presented. The Company will adopt ASU 2015-3 on January 1, 2016, and it is not expected to have a material impact on the Company’s consolidated financial statements and disclosures. In September 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement-Period Adjustments . The update requires that acquiring entities in a business combination recognize adjustments to provisional amounts identified in the reporting period in which the adjustment amounts are determined, including the cumulative effect of the change in provisional amount, as if the accounting had been completed at the acquisition date. Adjustments related to previous reporting periods must be disclosed by income statement line item, either on the face of the income statement or in the notes, in the period for which the adjustment was identified. ASU 2015-16 is effective for annual reporting periods beginning after December 15, 2015. The Company will adopt ASU 2015-16 on January 1, 2016, and it is not expected to have a material impact on the Company’s consolidated financial statements and disclosures. In February 2016, the FASB issued ASU 2016-02, Leases . The update amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. The standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. ASU 2016-02 will be effective for annual reporting periods beginning after December 15, 2018. Early adoption is permitted. We are currently evaluating the impact of adopting the new leases standard on our consolidated financial statements.

Organization and Business (Tabl

Organization and Business (Tables)	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Trust's common shares issuance and sale	During 2015 and 2014, the Trust’s issuance and sale of common shares pursuant to the ATM Program is as follows (in thousands, except common shares and price): 2015 2014 Common shares sold Weighted average price Net proceeds Common shares sold Weighted average price Net proceeds Quarterly period ended March 31 247,397 $ 16.96 $ 4,139 — $ — $ — Quarterly period ended June 30 1,007,695 16.56 16,439 — — — Quarterly period ended September 30 — — — — — — Quarterly period ended December 31 — — — 3,576,010 15.54 54,789 Year ended December 31 1,255,092 $ 16.63 $ 20,578 3,576,010 $ 15.54 $ 54,789

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Schedule of dividends declared	Declaration Date Record Date Payment Date Cash Dividend per Share/Unit December 31, 2015 January 15, 2016 January 29, 2016 $ 0.225 September 28, 2015 October 16, 2015 October 30, 2015 $ 0.225 July 1, 2015 July 17, 2015 July 31, 2015 $ 0.225 April 6, 2015 April 17, 2015 May 1, 2015 $ 0.225 December 30, 2014 January 23, 2015 February 6, 2015 $ 0.225 September 26, 2014 October 17, 2014 October 30, 2014 $ 0.225 June 26, 2014 July 18, 2014 August 1, 2014 $ 0.225 March 27, 2014 April 11, 2014 April 25, 2014 $ 0.225 December 30, 2013 January 24, 2014 February 7, 2014 $ 0.225 September 30, 2013 October 18, 2013 November 1, 2013 $ 0.180 (1) (1) Prorated cash dividend of $0.18 per share for the quarterly period from July 19, 2013 (the date of the IPO) through September 30, 2013, which was equivalent to a full quarterly dividend of $0.225 per share. The dividend was paid on November 1, 2013 to common shareholders and common OP Unit holders of record on October 18, 2013, with the exception of the OP Units issued in the acquisition of Crescent City Surgical Centre.

Acquisitions and Disposition (T

Acquisitions and Disposition (Tables)	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Schedule of acquisitions and aggregate purchase price	Acquisition activity for the year ending December 31, 2015 is summarized below: Property (1) Location Acquisition Date Purchase Price (in thousands) Minnesota Portfolio (2) Edina MOB (5) Edina MN January 22, 2015 $ 14,190 Crystal MOB (5) Crystal, MN January 22, 2015 14,782 Savage MOB (5) Savage, MN January 22, 2015 12,800 Dell Road MOB (5) Chanhassen, MN January 22, 2015 6,410 Vadnais Heights MOB (5) Vadnais Heights, MN January 29, 2015 18,422 Minnetonka MOB (3) (5) Minnetonka, MN February 5, 2015 26,000 Jamestown MOB (5) Jamestown, ND February 5, 2015 12,819 Minnesota Eye MOB (5) Minnetonka, MN February 17, 2015 10,882 Columbus MOB (5) Columbus, GA January 23, 2015 6,540 Methodist Sports MOB (4) (6) Greenwood, IN January 28, 2015 10,000 Indianapolis South (4 MOBs) (5) Greenwood, IN February 13, 2015 17,183 Baylor Cancer Center (5) Dallas, TX February 27, 2015 8,200 Bridgeport Medical Center (5) Lakewood, WA February 27, 2015 13,750 Renaissance Office Building (5) Milwaukee, WI March 27, 2015 6,500 University of Rochester Strong Memorial Portfolio (5 MOBs) (5) Rochester, NY March 31, 2015 41,000 Avalon Park Florida Hospital MOB (5) Avalon Park, FL March 31, 2015 14,600 Premier Surgery Center of Louisville (5) Louisville, KY April 10, 2015 8,000 Baton Rouge MOB (5) Baton Rouge, LA April 15, 2015 10,486 Healthpark Medical Center (5) Grand Blanc, MI April 30, 2015 18,913 Plaza HCA MOB (5) Jacksonville, FL April 30, 2015 19,000 Northern Ohio Medical Center (4) Sheffield, OH May 28, 2015 11,236 University of Michigan - Northville MOB (5) Livonia, MI May 29, 2015 14,750 Coon Rapids Medical Center MOB (5) Coon Rapids, MN June 1, 2015 7,298 Mezzanine Loan - UF Health MOB (7) Jacksonville, FL June 1, 2015 9,000 Premier Landmark MOB (4) (8) Bloomington, IN June 5, 2015 11,308 Palm Beach ASC (5) Palm Beach, FL June 26, 2015 14,070 Brookstone Physician Center MOB (5) Jacksonville, AL June 30, 2015 2,800 Jackson Woman's Clinic MOB (5) Jackson, TN June 30, 2015 5,672 Hillside Medical Center MOB (5) Hanover, PA June 30, 2015 11,400 Randall Road MOB (5) Elgin, IL June 30, 2015 13,045 Randall Road MOB - Unit 140 (4) Elgin, IL July 17, 2015 1,750 Medical Specialists of Palm Beach MOB (5) Atlantis, FL July 24, 2015 11,051 OhioHealth - SW Health Center MOB (5) Grove City, OH July 31, 2015 11,460 Trios Health MOB (5) Kennewick, WA July 31, 2015 64,000 Integrated Medical Services (IMS) Portfolio IMS - Paradise Valley MOB (5) Phoenix, AZ August 14, 2015 31,814 IMS - Avondale MOB (5) Avondale, AZ August 19, 2015 22,144 IMS - Palm Valley MOB (5) Goodyear, AZ August 19, 2015 35,184 IMS - North Mountain MOB (5) Phoenix, AZ August 31, 2015 51,740 Property (1) Location Acquisition Date Purchase Price (in thousands) Mezzanine Loan - Warm Springs Rehab Hospital (9) Kyle, TX August 21, 2015 3,138 Memorial Hermann Medical Complex (2 MOBs) (5) Katy, TX September 1, 2015 40,400 Construction Loan - Tinseltown (10) Jacksonville, FL September 4, 2015 1,005 New Albany Medical Center MOB (5) (11) New Albany, OH September 9, 2015 11,200 Fountain Hills Medical Campus MOB (5) Fountain Hills, AZ September 30, 2015 13,250 Catalyst Portfolio (12 MOBs) (5) AL & FL October 13, 2015 23,805 Mezzanine Loan - Truman Medical Center (12) Kansas City, MO October 16, 2015 4,500 Arete Surgical Center (5) Johnstown, CO October 19, 2015 9,100 Cambridge Professional Center MOB (5) Waldorf, MD October 30, 2015 11,550 Mezzanine Loan - Great Falls Replacement Surgical Hospital (13) Great Falls, MT November 2, 2015 4,500 HonorHealth 44th Street MOB (5) Phoenix, AZ November 13, 2015 7,163 Mercy Medical Center MOB (5) Fenton, MO December 1, 2015 9,850 Nashville MOB (5) (14) Nashville, TN December 17, 2015 45,440 Mezzanine Loan - Wilson Surgery Center (15) Wilson, NC December 17, 2015 216 Hillside Medical Center - Suite 100 (4) Hanover, PA December 18, 2015 4,240 Randall Road MOB - Suite 170 (4) Elgin, IL December 21, 2015 408 KSF Orthopaedic MOB (5) Houston, TX December 22, 2015 6,250 Great Falls Clinic MOB (5) (16) Great Falls, MT December 29, 2015 24,244 Randall Road MOB - Suite 320 (4) Elgin, IL December 30, 2015 500 Total $ 840,958 (1) “MOB” means medical office building and “ASC” means ambulatory surgical center. (2) Through subsidiaries of the Operating Partnership, the Trust acquired seven medical office facilities located in the Minneapolis-St. Paul Metropolitan area and one additional medical office facility located in Jamestown, North Dakota from affiliates of The Davis Group and investors associated with The Davis Group. The Davis Group retained a less than 1% minority interest in the property holding entities. (3) The Operating Partnership partially funded the purchase price of this acquisition by issuing a total of 44,685 Series A Preferred Units valued at approximately $9.7 million in the aggregate on the date of issuance. (4) The Trust accounted for these acquisitions as asset acquisitions and capitalized $ 0.4 million of total acquisition costs to the basis of the properties. (5) The Trust accounted for these acquisitions as business combinations pursuant to the acquisition method and expensed total acquisition costs of $14.9 million . (6) The Operating Partnership partially funded the purchase price of this acquisition by issuing a total of 420,963 OP Units valued at approximately $7.3 million in the aggregate on the date of issuance. (7) The Trust made a $9.0 million mezzanine term loan to fund the development of a MOB in Jacksonville, Florida. The loan is collateralized by an equity interest in the medical building development and accrues interest at a rate of 8.4% per year. (8) The Operating Partnership partially funded the purchase price of this acquisition by issuing a total of 210,820 OP Units valued at approximately $3.4 million in the aggregate on the date of issuance. (9) The Trust made a $3.1 million mezzanine term loan to partially fund the borrower’s acquisition of the 54,500 square foot Warm Springs Rehabilitation Hospital in Kyle, Texas. The mezzanine loan is collateralized by an equity interest in the property and accrues interest at a rate of 8.5% per year. The Trust has an option to purchase the property. (10) The Trust made additional advances on a construction loan to Tinseltown Partners, LLC to fund the renovations and additions of two re-purposed buildings in Jacksonville, Florida. The additional advances total $1.0 million and accrue at an interest rate of 9.0% per year. (11) The Operating Partnership partially funded the purchase price of this acquisition by issuing a total of 16,866 OP Units valued at approximately $0.2 million in the aggregate on the date of issuance. (12) The Trust made a $4.5 million mezzanine term loan to partially fund the owner’s permanent financing of the 87,500 square foot Truman Medical Center in Kansas City, Missouri. The loan accrues interest at the rate of 8.02% per year. The Trust has rights of first offer and first refusal to purchase the property. (13) The Trust made a $4.5 million mezzanine term loan to partially fund the construction of the 63,250 square foot Great Falls Hospital in Great Falls, Montana. The loan accrues interest at the rate of 9.0% per year. The Trust has a contract to purchase the property upon completion of construction. (14) The Operating Partnership partially funded the purchase price of this acquisition by issuing a total of 91,236 Series A Preferred Units valued at approximately $19.7 million in the aggregate on the date of issuance. Holders of the Series A Preferred Units issued in connection with the acquisition of the Nashville MOB are entitled to certain redemption rights under the partnership agreement of the Operating Partnership which allow them to cause the Operating Partnership to redeem the Series A Preferred Units in exchange for cash, or at the Trust’s option, for common shares, pursuant to a formula provided in the partnership agreement. The investors in the Series A Preferred Units have agreed not cause the Operating Partnership to redeem their Series A Preferred Units prior to December 17, 2016. (15) The Trust made a $0.2 million short term mezzanine loan to partially fund the owner’s acquisition of a 9,890 square foot ambulatory surgery center in Wilson, North Carolina. The loan accrues interest at the rate of 8.8% per year. (16) The Trust’s $24.2 million investment represents the acquisition of an approximate 75% membership interest in the entity which owns the Great Falls Clinic. For 2015 , the Trust recorded revenues and net income of $41.4 million and $10.6 million , respectively, from its 2015 acquisitions. During 2014 , the Trust completed acquisitions of 61 properties located in 15 states for an aggregate purchase price of approximately $543.4 million . Acquisition activity for the year ending December 31, 2014 is summarized below: Property (1) Location Acquisition Date Purchase Price (in thousands) Foundations San Antonio Surgical Hospital (2) San Antonio, TX February 19, 2014 $ 25,556 Eagles Landing Family Practice 4 MOBs (2) Atlanta, GA February 19, 2014 20,800 21st Century Oncology 4 MOBs (3) Sarasota, FL February 26, 2014 17,486 Foundations San Antonio MOB (3) San Antonio, TX February 28, 2014 6,800 Peachtree Dunwoody MOB (3) Atlanta, GA February 28, 2014 36,726 LifeCare LTACH (2) Fort Worth, TX March 28, 2014 27,160 LifeCare LTACH (2) Pittsburgh, PA March 28, 2014 12,840 Pinnacle Health Cardiology Portfolio 2 MOBs (3) Carlisle & Wormleyburg, PA April 22, 2014 9,208 South Bend Orthopaedic MOB (3) South Bend, IN April 30, 2014 14,900 Grenada Medical Complex MOB (3) Grenada, MS April 30, 2014 7,100 Mississippi Sports Medicine and Orthopaedics Center MOB (2) (4) Jackson, MS May 23, 2014 16,700 Carmel Medical Pavilion MOB (3) (5) Carmel, IN May 28, 2014 4,664 Summit Urology MOB (2) Bloomington, IN June 30, 2014 4,783 Renaissance Center (3) Oshkosh, WI June 30, 2014 8,500 Presbyterian Medical Plaza MOB (3) Monroe, NC June 30, 2014 7,750 Landmark Medical Portfolio (Premier) 3 MOBs (2) (6) Bloomington, IN July 1, 2014 23,837 Carlisle II MOB (3) Carlisle, PA July 25, 2014 4,500 Surgical Institute of Monroe ASC Monroe, MI July 28, 2014 6,000 The Oaks Medical Building MOB (3) Lady Lake, FL July 31, 2014 10,600 Baylor Surgicare ASC — Mansfield (3) Mansfield, TX September 2, 2014 8,500 Eye Center of Southern Indiana (2) (7) Bloomington, IN September 5, 2014 12,174 Wayne State Medical Center and MOB (2) Troy, MI September 10, 2014 46,500 El Paso Portfolio (specialty surgical hospital and 2 MOBs) (3) (8) El Paso, TX September 30, 2014 46,235 The Mark H. Zangmeister Center (3) Columbus, OH September 30, 2014 36,600 Berger Medical Center (3) Orient, OH September 30, 2014 6,785 Orthopedic One 2 MOBs (3) Columbus, OH Westerville, OH September 30, 2014 24,500 Pinnacle Health Portfolio 5 MOBs (3) Harrisburg, PA October 29, 2014 23,100 Columbus Regional Health Portfolio 12 MOBs (3) Columbus, GA November 20, 2014 27,997 Middletown Medical 2 MOBs (2) Middletown, NY November 26, 2014 14,399 Carle Danville Clinic MOB (3) Danville, IL November 26, 2014 10,300 Napoleon Medical Building MOB (3) New Orleans, LA December 18, 2014 10,500 West Tennessee Bone & Joint 1 MOB 1 ASC (2) Jackson, TN December 30, 2014 9,936 Total $ 543,436 (1) “MOB” means medical office building, “LTACH” means long-term acute care hospital and “ASC” means ambulatory surgical center. (2) The Trust accounted for these acquisitions as asset acquisitions and capitalized $1.7 million of total acquisition costs to the basis of the properties. (3) The Trust accounted for these acquisitions as business combinations pursuant to the acquisition method and expensed total acquisition costs of $10.9 million . (4) The Operating Partnership partially funded the purchase price of these acquisitions by issuing a total of 147,659 OP Units valued at approximately $1.9 million in the aggregate on the date of issuance. (5) The Operating Partnership partially funded the purchase price of these acquisitions by issuing a total of 96,099 OP Units valued at approximately $1.2 million in the aggregate on the date of issuance. (6) The Operating Partnership partially funded the purchase price of these acquisitions by issuing a total of 576,040 OP Units valued at approximately $8.3 million in the aggregate on the date of issuance. (7) The Operating Partnership partially funded the purchase price of these acquisitions by issuing a total of 272,191 OP Units valued at approximately $4.0 million in the aggregate on the date of issuance. (8) The Operating Partnership partially funded the purchase price of these acquisitions by issuing a total of 950,324 OP Units valued at approximately $13.2 million in the aggregate on the date of issuance.
Schedule of preliminary purchase price allocations of assets acquired and liabilities assumed	The following table summarizes the preliminary purchase price allocations of the assets acquired and the liabilities assumed, which the Trust determined using Level 2 and Level 3 inputs (in thousands): December 31, 2015 December 31, 2014 Land $ 52,224 $ 53,687 Building and improvements 643,470 451,691 In-place lease intangibles 99,763 35,720 Above market lease intangibles 19,337 5,270 Below market lease intangibles (3,738 ) (2,330 ) Below market ground lease 13,941 — Above market ground lease — (701 ) Investment in unconsolidated entity — 1,300 Lease inducement 2,478 1,532 Leasehold interest — 759 Derivative liability assumed — (197 ) Contingent consideration (2,718 ) (840 ) Receivable 3,564 640 Debt assumed (18,690 ) (15,283 ) Issuance of OP Units (10,973 ) (28,589 ) Issuance of Series A Preferred Units (29,403 ) — Noncontrolling interest (13,970 ) — Net assets acquired $ 755,285 $ 502,659
Schedule of pro forma combined revenue, net income, and earnings per share-basic and diluted	The following table illustrates the pro forma consolidated revenue, net income, and earnings per share as if the Trust had acquired the 2015 acquisitions detailed above as of January 1, 2014 (in thousands, except share and per share amounts): Year Ended December 31, 2015 2014 Revenue $ 168,154 $ 133,411 Net income 38,959 17,512 Net income available to common shareholders 36,938 16,599 Earnings per share $ 0.42 $ 0.19 Common shares outstanding 87,175,904 87,175,904

Intangibles (Tables)

Intangibles (Tables)	12 Months Ended
	Dec. 31, 2015
Finite-Lived Intangible Assets, Net [Abstract]
Summary of the carrying amount of intangible assets and liabilities	The following is a summary of the carrying amount of intangible assets and liabilities as of December 31, 2015 and 2014 (in thousands): December 31, 2015 December 31, 2014 Cost Accumulated Amortization Net Cost Accumulated Amortization Net Assets In-place leases $ 163,728 $ (26,702 ) $ 137,026 $ 64,777 $ (12,213 ) $ 52,564 Above market leases 26,787 (3,174 ) 23,613 7,449 (578 ) 6,871 Leasehold interest 712 (64 ) 648 759 (5 ) 754 Below market ground lease 13,941 (68 ) 13,873 — — — Total $ 205,168 $ (30,008 ) $ 175,160 $ 72,985 $ (12,796 ) $ 60,189 Liability Below market lease $ 6,068 $ (799 ) $ 5,269 $ 2,330 $ (156 ) $ 2,174 Above market ground lease 701 (20 ) 681 701 (4 ) 697 Total $ 6,769 $ (819 ) $ 5,950 $ 3,031 $ (160 ) $ 2,871
Summary of the carrying amount of acquired lease intangibles	The following is a summary of the acquired lease intangible amortization for the years ended December 31, 2015 , 2014 and 2013 (in thousands): December 31, 2015 2014 2013 Amortization expense related to in-place leases $ 15,300 $ 4,133 $ 1,252 Decrease of rental income related to above-market leases 2,596 530 48 Decrease of rental income related to leasehold interests 59 5 — Increase of rental income related to below-market leases 643 156 — Decrease of operating expense related to above market ground leases 16 4 — Increase in operating expense related to below market ground leases 68 — —
Schedule of future amortization of the acquired lease intangibles	Future aggregate net amortization of the acquired lease intangibles as of December 31, 2015 , is as follows (in thousands): Net Decrease in Revenue Net Increase in Expenses 2016 $ (3,016 ) $ 20,760 2017 (2,447 ) 18,743 2018 (2,162 ) 17,283 2019 (1,982 ) 14,161 2020 (1,886 ) 12,427 Thereafter (7,499 ) 66,844 Total $ (18,992 ) $ 150,218

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2015
Other Assets, Unclassified [Abstract]
Schedule of other assets	Other assets consisted of the following as of December 31, 2015 and 2014 (in thousands): December 31, 2015 2014 Straight line rent receivable $ 15,584 $ 6,431 Lease inducements, net 4,970 2,845 Escrows 4,788 1,906 Earnest deposits 343 2,343 Notes receivable 20,620 — Prepaid expenses and other 5,926 2,281 Total $ 52,231 $ 15,806

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Schedule of debt	The following is a summary of debt as of December 31, 2015 and 2014 (in thousands): December 31, 2015 2014 Fixed interest mortgage notes $ 89,664 (1) $ 73,706 (2) Variable interest mortgage note 4,262 (3) 4,399 (4) Total mortgage debt 93,926 78,105 $750 million unsecured revolving credit facility bearing variable interest of LIBOR plus 1.20%, due September 2019. 395,000 138,000 Total principal 488,926 216,105 Unamortized fair value adjustment 674 — Total debt $ 489,600 $ 216,105 (1) Fixed interest mortgage notes, bearing interest from 4.71% to 6.58% , with a weighted average interest rate of 5.40% , and due in 2016, 2017, 2019, 2020, 2021 and 2022 collateralized by 11 properties with a net book value of $145,038 . (2) Fixed interest mortgage notes, bearing interest from 4.71% to 6.58% , with a weighted average interest rate of 5.26% , and due in 2016, 2017, 2018, 2019, 2021 and 2022 collateralized by nine properties with a net book value of $118,247 . (3) Variable interest mortgage note bearing variable interest of LIBOR plus 2.75% and due in 2017, collateralized by one property with a net book value of $5,994 . (4) Variable interest mortgage note bearing variable interest of LIBOR plus 2.75% and due in 2017, collateralized by one property with a net book value of $6,249 .
Schedule of consolidated leverage ratios	The Credit Agreement provides for revolving credit loans to the Operating Partnership. Base Rate Loans, Adjusted LIBOR Rate Loans and Letters of Credit (each, as defined in the Credit Agreement) will be subject to interest rates, based upon the Trust’s investment grade rating as follows: Investment Grade Rating Adjusted LIBOR Rate Loans Base Rate Loans At Least A- or A3 LIBOR + 0.85% — % At Least BBB+ or BAA1 LIBOR + 0.90% — % At Least BBB or BAA2 LIBOR + 1.00% 0.10 % At Least BBB- or BAA3 LIBOR + 1.20% 0.20 % Below BBB- or BAA3 LIBOR + 1.55% 0.60 %
Schedule of principal payments due on debt	Scheduled principal payments due on debt as of December 31, 2015 , are as follows (in thousands): 2016 $ 9,748 2017 40,658 2018 1,265 2019 415,081 2020 5,521 Thereafter 16,653 Total Payments $ 488,926

Accrued Expenses and Other Li30

Accrued Expenses and Other Liabilities Accrued Expenses and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2015
Other Liabilities Disclosure [Abstract]
Schedule of accrued expenses and other liabilities	Accrued expenses and other liabilities consisted of the following as of December 31, 2015 and 2014 (in thousands): December 31, 2015 2014 Embedded derivatives $ 8,149 $ — Security deposits 4,038 1,191 Prepaid rent 2,778 839 Contingent consideration 2,559 840 Accrued expenses and other 6,949 3,270 Total $ 24,473 $ 6,140

Stock-based Compensation (Table

Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of non-vested restricted common shares	A summary of the status of the Trust’s non-vested restricted common shares as of December 31, 2015 and changes during the year then ended follow: Shares Weighted Average Grant Date Fair Value Restricted shares issued in conjunction with our IPO 250,000 $ 11.50 Non-vested at December 31, 2013 250,000 11.50 Granted 152,987 13.79 Vested (83,333 ) 11.50 Non-vested at December 31, 2014 319,654 12.60 Granted 162,522 15.95 Vested (170,337 ) 12.93 Non-vested at December 31, 2015 311,839 $ 14.17
Schedule of weighted average grant date fair value assumptions	The Trust utilized a Monte Carlo simulation to calculate the weighted average grant date fair values in 2015 and 2014 of $20.06 and $19.25 per unit, respectively, using the following assumptions: 2015 2014 Volatility 20.7 % 18.8% - 34.2% Dividend assumption reinvested reinvested Expected term in years 2.8 years 2.8 years Risk-free rate 1.14 % 0.65 % Stock price (per share) $ 15.87 $ 13.47
Summary of the activity in the restricted share units	The following is a summary of the activity in the Trust’s restricted share units during 2014 and 2015 : Restricted Share Units Weighted Average Grant Date Fair Value Non-vested at December 31, 2013 — $ — Granted 55,680 16.94 Non-vested at December 31, 2014 55,680 16.94 Granted 116,207 19.22 Non-vested at December 31, 2015 171,887 $ 18.48

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Schedule of fair value of other financial instruments	The following table presents the fair value of the Trust’s financial instruments (in thousands). December 31, December 31, Carrying Amount Fair Value Carrying Amount Fair Value Real estate loans receivable $ 39,349 $ 39,349 $ 15,876 $ 15,876 Credit facility $ (395,000 ) $ (395,000 ) $ (138,000 ) $ (138,000 ) Mortgage debt $ (94,600 ) $ (95,275 ) $ (78,105 ) $ (78,642 ) Derivative liabilities $ (8,216 ) $ (8,216 ) $ (233 ) $ (233 )

Tenant Operating Leases (Tables

Tenant Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Schedule of future minimum rental payments on non-cancelable leases, exclusive of expense recoveries	As of December 31, 2015 , the future minimum rental payments on non-cancelable leases, exclusive of expense recoveries, were as follows (in thousands): 2016 $ 119,218 2017 115,974 2018 110,927 2019 106,196 2020 102,326 Thereafter 724,590 Total $ 1,279,231

Rent Expense (Tables)

Rent Expense (Tables)	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Schedule of future minimum lease obligations under non-cancelable ground leases	As of December 31, 2015 , the future minimum lease obligations under non-cancelable ground and parking leases were as follows (in thousands): 2016 $ 1,316 2017 1,353 2018 1,394 2019 1,437 2020 1,482 Thereafter 16,377 Total $ 23,359

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Schedule of amounts used in computing basic and diluted earnings per share	The following table shows the amounts used in computing the Trust’s basic and diluted earnings per share (in thousands, except share and per share data): Year Ended December 31, 2015 2014 2013 Numerator for earnings per share - basic: Net income (loss) $ 12,741 $ (4,418 ) $ (2,636 ) Net (income) loss attributable to Predecessor: — — 576 Net (income) loss attributable to noncontrolling interests: Operating Partnership (576 ) 695 470 Partially owned properties (377 ) (314 ) (71 ) Preferred distributions (1,189 ) — — Numerator for earnings per share - basic: $ 10,599 $ (4,037 ) $ (1,661 ) Numerator for earnings per share - diluted: Numerator for earnings per share - basic: 10,599 (4,037 ) (1,661 ) Operating Partnership net income 576 — — Numerator for earnings per share - diluted $ 11,175 $ (4,037 ) $ (1,661 ) Denominator for EPS - basic and diluted: Weighted average number of shares outstanding - basic 72,750,724 33,063,093 12,883,917 Effect of dilutive securities: Noncontrolling interest - Operating Partnership units 3,708,494 — — Restricted shares 190,619 — — Restricted share units 142,236 — — Denominator for EPS - diluted 76,792,073 33,063,093 12,883,917 Earnings per share - basic $ 0.15 $ (0.12 ) $ (0.13 ) Earnings per share - diluted $ 0.15 $ (0.12 ) $ (0.13 )

Subsequent Events (Tables)

Subsequent Events (Tables)	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Schedule of acquisitions through subsidiaries of operating partnership	As of February 22, 2016, the Trust, through subsidiaries of its Operating Partnership, closed on the below acquisitions during 2016: Property(1) Location Acquisition Investment (in thousands) Randall Road MOB - Suite 380 Elgin, IL January 14, 2016 $ 704 Great Falls Hospital Great Falls, MT January 25, 2016 29,043 Monterey Medical Center ASC Stuart, FL February 1, 2016 6,900 Physicians Medical Plaza MOB Indianapolis, IN February 1, 2016 8,500 Mezzanine Loan - Davis Minneapolis, MN February 4, 2016 500 Park Nicollet Clinic Chanhassen, MN February 8, 2016 18,600 HEB Cancer Center Bedford, TX February 12, 2016 14,000 Riverview Medical Center Lancaster, OH February 26, 2016 12,800 St. Luke's Cornwall MOB Cornwall, NY February 26, 2016 14,550 $ 105,597 (1) “MOB” means medical office building and “ASC” means ambulatory surgical center.

Quarterly Data (Tables)

Quarterly Data (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Data	The following unaudited quarterly data has been prepared on the basis of a December 31 year-end. Amounts are in thousands, except for common share and per share amounts. Quarter Ended 2015 March 31 June 30 September 30 December 31 Total revenues $ 24,484 $ 29,683 $ 34,870 $ 40,404 Operating (loss) income (459 ) 3,271 3,812 5,883 Net (loss) income (448 ) 3,297 3,983 5,909 Net (loss) income attributable to common shareholders (522 ) 2,571 3,404 5,146 Earnings per share – basic: Net (loss) income available to common shareholders $ (0.01 ) $ 0.04 $ 0.05 $ 0.06 Weighted average common shares outstanding 65,649,478 70,376,959 71,034,747 83,761,536 Earnings per share – diluted: Net (loss) income available to common shareholder $ (0.01 ) $ 0.04 $ 0.05 $ 0.06 Weighted average common shares outstanding 65,649,478 74,267,284 75,104,821 87,911,097 As a result of the acquisition activity and equity offerings throughout 2015, the quarterly periods are not comparable quarter over quarter. Quarter Ended 2014 March 31 June 30 September 30 December 31 Total revenues $ 8,032 $ 11,447 $ 14,161 $ 19,694 Operating loss (income) (3,575 ) (626 ) (2,311 ) 1,967 Net loss (income) (3,558 ) (600 ) (2,251 ) 1,991 Net loss (income) available to common shareholders (3,093 ) (561 ) (2,094 ) 1,711 Earnings per share – basic: Net (loss) income available to common shareholders $ (0.15 ) $ (0.02 ) $ (0.06 ) $ 0.04 Weighted average common shares outstanding 21,298,597 26,163,982 36,313,644 48,145,409 Earnings per share – diluted: Net (loss) income available to common shareholders $ (0.15 ) $ (0.02 ) $ (0.06 ) $ 0.04 Weighted average common shares outstanding 21,298,597 26,163,982 36,313,644 48,354,493

Organization and Business - Nar

Organization and Business - Narrative (Details)	Oct. 19, 2015USD ($)$ / sharesshares	Feb. 05, 2015USD ($)	Jan. 21, 2015USD ($)$ / sharesshares	Sep. 12, 2014USD ($)shares	Aug. 19, 2014USD ($)	May. 27, 2014USD ($)shares	Dec. 11, 2013USD ($)shares	Jul. 24, 2013USD ($)propertieshealthcarepropertyshares	Dec. 31, 2015USD ($)$ / sharesshares	Sep. 30, 2015USD ($)shares	Jun. 30, 2015USD ($)shares	Mar. 31, 2015USD ($)shares	Dec. 31, 2014USD ($)$ / sharesshares	Sep. 30, 2014USD ($)shares	Jun. 30, 2014USD ($)shares	Mar. 31, 2014USD ($)shares	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares
Organization and Business
Common stock, shares authorized (in shares) | shares				10,925,000		12,650,000	9,545,000		500,000,000				500,000,000				500,000,000	500,000,000
Common stock, par value (in dollars per share) | $ / shares									$ 0.01				$ 0.01				$ 0.01	$ 0.01
Common shares sold (in shares) | shares	15,812,500		18,975,000					11,753,597
Proceeds from issuance initial public offering								$ 123,800,000
Number of medical office buildings | properties								19
Number of healthcare real estate funds | healthcareproperty								4
Debt assumed								$ 84,300,000	$ 18,690,000				$ 15,283,000				$ 18,690,000	$ 15,283,000
Number of partnership units issued | shares	15,812,500		18,975,000					2,744,000
Value of Preferred Units		$ 9,700,000						$ 31,600,000
Percentage of interest held								79.60%									95.70%
Aggregate purchase price																	$ 818,600,000
Shares issued upon exercise of the underwriters' overallotment option | shares	2,062,500		2,475,000	1,425,000		1,650,000	1,245,000
Net proceeds from issuance of common stock	$ 226,800,000		$ 297,300,000	$ 145,700,000		$ 149,900,000	$ 103,100,000
Common share price (in dollars per share) | $ / shares	$ 15		$ 16.40
ATM Program | Operating Partnership
Organization and Business
Common shares sold (in shares) | shares									0	0	1,007,695	247,397	3,576,010	0	0	0	1,255,092	3,576,010
Net proceeds from issuance of common stock									$ 0	$ 0	$ 16,439,000	$ 4,139,000	$ 54,789,000	$ 0	$ 0	$ 0	$ 20,578,000	$ 54,789,000
ATM Program | Maximum
Organization and Business
Aggregate offering price of common stock					$ 150,000,000
Ziegler Arizona 23 LLC
Organization and Business
Percentage of interest acquired								50.00%
Aggregate purchase price								$ 850,000
Percentage of ownership after transaction								100.00%

Organization and Business - Sch

Organization and Business - Schedule of Issuance and Sale of Common Stock (Details 2) - USD ($) $ / shares in Units, $ in Thousands	Oct. 19, 2015	Jan. 21, 2015	Sep. 12, 2014	May. 27, 2014	Dec. 11, 2013	Jul. 24, 2013	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Common shares sold (in shares)	15,812,500	18,975,000				11,753,597
Net proceeds from issuance of common stock	$ 226,800	$ 297,300	$ 145,700	$ 149,900	$ 103,100
ATM Program | Operating Partnership
Class of Stock [Line Items]
Common shares sold (in shares)							0	0	1,007,695	247,397	3,576,010	0	0	0	1,255,092	3,576,010
Weighted average price (in dollars per share)							$ 0	$ 0	$ 16.56	$ 16.96	$ 15.54	$ 0	$ 0	$ 0	$ 16.63	$ 15.54
Net proceeds from issuance of common stock							$ 0	$ 0	$ 16,439	$ 4,139	$ 54,789	$ 0	$ 0	$ 0	$ 20,578	$ 54,789

Summary of Significant Accoun40

Summary of Significant Accounting Policies - (Details) $ / shares in Units, $ in Thousands	Dec. 17, 2015USD ($)shares	Mar. 01, 2015USD ($)	Feb. 05, 2015USD ($)shares	Jul. 24, 2013USD ($)propertiesstatesshares	Dec. 31, 2015USD ($)properties$ / sharesshares	Dec. 31, 2014USD ($)propertiesshares	Dec. 31, 2013USD ($)propertiesshares	Oct. 19, 2015shares	Jan. 21, 2015shares
Business Acquisition [Line Items]
Ownership interest in consolidated subsidiaries (as a percent)					100.00%
Number of medical office buildings | properties				19
Number of partnership units issued | shares				2,744,000				15,812,500	18,975,000
Principal payments on mortgage debt					$ 2,022	$ 6,549	$ 41,832
Acquisition price					$ 840,958	543,436
Percentage of interest held				79.60%	95.70%
Conversion ratio					1
Value of Preferred Units			$ 9,700	$ 31,600
Embedded derivatives					$ 8,149	$ 0
Minnetonka MOB
Business Acquisition [Line Items]
Number of units issued for funding purchase price (in shares) | shares			44,685
Acquisition price			$ 26,000
Cumulative preferred return		15.00%
Equity investment		$ 5,000
Internal rate of return		15.00%
Nashville MOB
Business Acquisition [Line Items]
Number of units issued for funding purchase price (in shares) | shares	91,236
Acquisition price	$ 45,440
Value of Preferred Units	$ 19,700
Series A Preferred units
Business Acquisition [Line Items]
Cumulative preferred return					5.00%
Shares issued upon conversion					1
Redemption value per share | $ / shares					$ 200
Period of time before redeemable					1 year
Operating Partnership | Ziegler Funds Property Interests
Business Acquisition [Line Items]
Number of medical office buildings | properties				19
Number of states | states				10
Number of partnership units issued | shares				2,744,000
Principal payments on mortgage debt				$ 36,900
Operating Partnership | Units
Business Acquisition [Line Items]
Number of additional acquisitions | properties					3	5	1
Number of units issued for funding purchase price (in shares) | shares					648,649	2,042,313	954,877
Value of units issued for funding purchase price					$ 11,000	$ 28,600	$ 11,500
Acquisition price					$ 32,500	$ 103,600	$ 37,500
Operating Partnership | Series A Preferred units | Units | Minnetonka MOB
Business Acquisition [Line Items]
Number of units issued for funding purchase price (in shares) | shares			44,685
Operating Partnership | Series A Preferred units | Units | Nashville MOB
Business Acquisition [Line Items]
Number of units issued for funding purchase price (in shares) | shares	91,236
Value of units issued for funding purchase price	$ 19,700

Summary of Significant Accoun41

Summary of Significant Accounting Policies - (Details 2) - $ / shares	Jan. 29, 2016	Dec. 31, 2015	Oct. 30, 2015	Sep. 28, 2015	Jul. 31, 2015	Jul. 01, 2015	May. 01, 2015	Apr. 06, 2015	Feb. 06, 2015	Dec. 30, 2014	Oct. 30, 2014	Sep. 26, 2014	Aug. 01, 2014	Jun. 26, 2014	Apr. 25, 2014	Mar. 27, 2014	Feb. 07, 2014	Dec. 30, 2013	Nov. 01, 2013	Sep. 30, 2013	Sep. 30, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Class of Stock [Line Items]
Dividends and distributions declared per common share and unit (in dollars per share)		$ 0.225		$ 0.225		$ 0.225		$ 0.225		$ 0.225		$ 0.225		$ 0.225		$ 0.225		$ 0.225		$ 0.18		$ 0.9	$ 0.9	$ 0.41
Dividends and distributions paid per common share and unit (in dollars per share)			$ 0.225		$ 0.225		$ 0.225		$ 0.225		$ 0.225		$ 0.225		$ 0.225		$ 0.225		$ 0.18
Dividends and distributions declared per common share and unit, quarterly equivalent (in dollars per share)																					$ 0.225
Subsequent Events
Class of Stock [Line Items]
Dividends and distributions paid per common share and unit (in dollars per share)	$ 0.225

Summary of Significant Accoun42

Summary of Significant Accounting Policies - (Details 3) $ in Thousands	Jul. 24, 2013	Dec. 31, 2015USD ($)mezzanine_loan	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Business Acquisition [Line Items]
Impairment loss		$ 0	$ 1,750	$ 0
Percentage of interest held	79.60%	95.70%
Acquisition price		$ 840,958	543,436
Escrows		4,788	1,906
Allowance for doubtful accounts		100	100
Rental revenue due in excess of amounts currently due from tenants		$ 15,600	$ 6,400
Jeff Orleans Medical Development Real Estate L L C
Business Acquisition [Line Items]
Percentage of interest held			40.00%
Acquisition price			$ 1,300
Mezzanine loan
Business Acquisition [Line Items]
Number of loans | mezzanine_loan		7
Term loan
Business Acquisition [Line Items]
Number of loans | mezzanine_loan		1

Acquisitions and Disposition -

Acquisitions and Disposition - 2015 Acquisitions (Details) $ in Thousands

Dec. 30, 2015USD ($)

Dec. 29, 2015USD ($)

Dec. 22, 2015USD ($)

Dec. 21, 2015USD ($)

Dec. 18, 2015USD ($)

Dec. 17, 2015USD ($)ft²shares

Dec. 01, 2015USD ($)

Nov. 13, 2015USD ($)

Nov. 02, 2015USD ($)ft²

Oct. 30, 2015USD ($)

Oct. 19, 2015USD ($)

Oct. 16, 2015USD ($)ft²

Oct. 13, 2015USD ($)

Sep. 30, 2015USD ($)

Sep. 09, 2015USD ($)shares

Sep. 04, 2015USD ($)buildings

Sep. 01, 2015USD ($)

Aug. 31, 2015USD ($)

Aug. 21, 2015USD ($)ft²

Aug. 19, 2015USD ($)

Aug. 14, 2015USD ($)

Jul. 31, 2015USD ($)

Jul. 24, 2015USD ($)

Jul. 17, 2015USD ($)

Jun. 30, 2015USD ($)

Jun. 26, 2015USD ($)

Jun. 05, 2015USD ($)shares

Jun. 01, 2015USD ($)

May. 29, 2015USD ($)

May. 28, 2015USD ($)

Apr. 30, 2015USD ($)

Apr. 15, 2015USD ($)

Apr. 10, 2015USD ($)

Mar. 31, 2015USD ($)

Mar. 27, 2015USD ($)

Feb. 27, 2015USD ($)

Feb. 17, 2015USD ($)

Feb. 13, 2015USD ($)

Feb. 05, 2015USD ($)propertiesshares

Jan. 29, 2015USD ($)

Jan. 28, 2015USD ($)shares

Jan. 23, 2015USD ($)

Jan. 22, 2015USD ($)

Jul. 24, 2013properties

Feb. 17, 2015properties

Dec. 31, 2015USD ($)stateshealthcarepropertybuildingsshares

Dec. 31, 2014USD ($)propertiesstatesshares

Dec. 31, 2013USD ($)shares

Business Acquisition [Line Items]

Number of operating healthcare properties

66

61

Number of states in which operating healthcare properties and land parcel located | states

22

15

Aggregate purchase price

$ 818,600

Loan investments

22,400

Acquisition price

840,958

$ 543,436

Number of medical office buildings | properties

19

Acquisition costs capitalized

400

1,700

Acquisition expenses

14,893

10,897

$ 1,938

Revenue of acquired since acquisition

41,400

Income of acquiree since acquisition

$ 10,600

Edina MOB

Business Acquisition [Line Items]

Acquisition price

$ 14,190

Crystal MOB

Business Acquisition [Line Items]

Acquisition price

14,782

Savage MOB

Business Acquisition [Line Items]

Acquisition price

12,800

Dell Road MOB

Business Acquisition [Line Items]

Acquisition price

$ 6,410

Vadnais Heights MOB

Business Acquisition [Line Items]

Acquisition price

$ 18,422

Minnetonka MOB

Business Acquisition [Line Items]

Acquisition price

$ 26,000

Number of units issued for funding purchase price (in shares) | shares

44,685

Jamestown MOB

Business Acquisition [Line Items]

Acquisition price

$ 12,819

Minnesota Eye MOB

Business Acquisition [Line Items]

Acquisition price

$ 10,882

Columbus MOB

Business Acquisition [Line Items]

Acquisition price

$ 6,540

Methodist Sports MOB

Business Acquisition [Line Items]

Acquisition price

$ 10,000

Indianapolis South (4 MOBs)

Business Acquisition [Line Items]

Acquisition price

$ 17,183

Number of medical office buildings | buildings

4

Baylor Cancer Center

Business Acquisition [Line Items]

Acquisition price

$ 8,200

Bridgeport Medical Center

Business Acquisition [Line Items]

Acquisition price

$ 13,750

Renaissance Office Building

Business Acquisition [Line Items]

Acquisition price

$ 6,500

University of Rochester Strong Memorial Portfolio (5 MOBs)

Business Acquisition [Line Items]

Acquisition price

$ 41,000

Number of medical office buildings | buildings

5

Avalon Park Florida Hospital MOB

Business Acquisition [Line Items]

Acquisition price

$ 14,600

Premier Surgery Center of Louisville

Business Acquisition [Line Items]

Acquisition price

$ 8,000

Baton Rouge MOB

Business Acquisition [Line Items]

Acquisition price

$ 10,486

Healthpark Medical Center

Business Acquisition [Line Items]

Acquisition price

$ 18,913

Plaza HCA MOB

Business Acquisition [Line Items]

Acquisition price

$ 19,000

Northern Ohio Medical Center

Business Acquisition [Line Items]

Acquisition price

$ 11,236

University of Michigan - Northville MOB

Business Acquisition [Line Items]

Acquisition price

$ 14,750

Coon Rapids Medical Center MOB

Business Acquisition [Line Items]

Acquisition price

$ 7,298

Mezzanine Loan - UF Health MOB

Business Acquisition [Line Items]

Acquisition price

9,000

Mezzanine Loan - UF Health MOB | Mezzanine loan

Business Acquisition [Line Items]

Mezzanine term loan

$ 9,000

Mortgage loan interest rate

8.40%

Premier Landmark MOB

Business Acquisition [Line Items]

Acquisition price

$ 11,308

Palm Beach ASC

Business Acquisition [Line Items]

Acquisition price

$ 14,070

Brookstone Physician Center MOB

Business Acquisition [Line Items]

Acquisition price

$ 2,800

Jackson Woman's Clinic MOB

Business Acquisition [Line Items]

Acquisition price

5,672

Hillside Medical Center MOB

Business Acquisition [Line Items]

Acquisition price

11,400

Randall Road MOB

Business Acquisition [Line Items]

Acquisition price

$ 13,045

Randall Road MOB - Unit 140

Business Acquisition [Line Items]

Acquisition price

$ 1,750

Medical Specialists of Palm Beach MOB

Business Acquisition [Line Items]

Acquisition price

$ 11,051

OhioHealth - SW Health Center MOB

Business Acquisition [Line Items]

Acquisition price

$ 11,460

Trios Health MOB

Business Acquisition [Line Items]

Acquisition price

$ 64,000

IMS - Paradise Valley MOB

Business Acquisition [Line Items]

Acquisition price

$ 31,814

IMS - Avondale MOB

Business Acquisition [Line Items]

Acquisition price

$ 22,144

IMS - Palm Valley MOB

Business Acquisition [Line Items]

Acquisition price

$ 35,184

IMS - North Mountain MOB

Business Acquisition [Line Items]

Acquisition price

$ 51,740

Mezzanine Loan - Warm Springs Rehab Hospital

Business Acquisition [Line Items]

Acquisition price

$ 3,138

Mezzanine Loan - Warm Springs Rehab Hospital | Mezzanine loan

Business Acquisition [Line Items]

Mezzanine term loan

$ 3,100

Mortgage loan interest rate

8.50%

Memorial Hermann Medical Complex (2 MOBs)

Business Acquisition [Line Items]

Acquisition price

$ 40,400

Number of medical office buildings | buildings

2

Construction Loan - Tinseltown

Business Acquisition [Line Items]

Acquisition price

$ 1,005

Number of medical office buildings | buildings

2

Mezzanine term loan

$ 1,000

Mortgage loan interest rate

9.00%

New Albany Medical Center MOB

Business Acquisition [Line Items]

Acquisition price

$ 11,200

Fountain Hills Medical Campus MOB

Business Acquisition [Line Items]

Acquisition price

$ 13,250

Catalyst Portfolio (12 MOBs)

Business Acquisition [Line Items]

Acquisition price

$ 23,805

Number of medical office buildings | buildings

12

Mezzanine Loan - Truman Medical Center

Business Acquisition [Line Items]

Acquisition price

$ 4,500

Area of property (in square feet) | ft²

87,500

Mezzanine term loan

$ 4,500

Mortgage loan interest rate

8.02%

Arete Surgical Center

Business Acquisition [Line Items]

Acquisition price

$ 9,100

Cambridge Professional Center MOB

Business Acquisition [Line Items]

Acquisition price

$ 11,550

Mezzanine Loan - Great Falls Replacement Surgical Hospital

Business Acquisition [Line Items]

Acquisition price

$ 4,500

Area of property (in square feet) | ft²

63,250

Mezzanine Loan - Great Falls Replacement Surgical Hospital | Mezzanine loan

Business Acquisition [Line Items]

Mezzanine term loan

$ 4,500

Mortgage loan interest rate

9.00%

HonorHealth 44th Street MOB

Business Acquisition [Line Items]

Acquisition price

$ 7,163

Mercy Medical Center MOB

Business Acquisition [Line Items]

Acquisition price

$ 9,850

Nashville MOB

Business Acquisition [Line Items]

Acquisition price

$ 45,440

Number of units issued for funding purchase price (in shares) | shares

91,236

Mezzanine Loan - Wilson Surgery Center

Business Acquisition [Line Items]

Acquisition price

$ 216

Area of property (in square feet) | ft²

9,890

Mezzanine Loan - Wilson Surgery Center | Mezzanine loan

Business Acquisition [Line Items]

Mezzanine term loan

$ 200

Mortgage loan interest rate

8.80%

Hillside Medical Center - Suite 100

Business Acquisition [Line Items]

Acquisition price

$ 4,240

Randall Road MOB - Suite 170

Business Acquisition [Line Items]

Acquisition price

$ 408

KSF Orthopaedic MOB

Business Acquisition [Line Items]

Acquisition price

$ 6,250

Great Falls Clinic MOB

Business Acquisition [Line Items]

Acquisition price

$ 24,244

Percentage of interest acquired

75.00%

Randall Road MOB - Suite 320

Business Acquisition [Line Items]

Acquisition price

$ 500

Operating Partnership | Units

Business Acquisition [Line Items]

Acquisition price

$ 32,500

$ 103,600

$ 37,500

Number of units issued for funding purchase price (in shares) | shares

648,649

2,042,313

954,877

Value of units issued for funding purchase price

$ 11,000

$ 28,600

$ 11,500

Operating Partnership | Minnesota Portfolio

Business Acquisition [Line Items]

Number of medical office buildings | properties

1

7

Ownership percentage by noncontrolling owners

1.00%

Operating Partnership | Minnetonka MOB | Series A Preferred units | Units

Business Acquisition [Line Items]

Number of units issued for funding purchase price (in shares) | shares

44,685

Acquisition expenses

$ 9,700

Operating Partnership | Methodist Sports MOB | Units

Business Acquisition [Line Items]

Number of units issued for funding purchase price (in shares) | shares

420,963

Value of units issued for funding purchase price

$ 7,300

Operating Partnership | Premier Landmark MOB | Units

Business Acquisition [Line Items]

Number of units issued for funding purchase price (in shares) | shares

210,820

Value of units issued for funding purchase price

$ 3,400

Operating Partnership | Mezzanine Loan - Warm Springs Rehab Hospital

Business Acquisition [Line Items]

Area of property (in square feet) | ft²

54,500

Operating Partnership | New Albany Medical Center MOB | Units

Business Acquisition [Line Items]

Number of units issued for funding purchase price (in shares) | shares

16,866

Value of units issued for funding purchase price

$ 200

Operating Partnership | Nashville MOB | Series A Preferred units | Units

Business Acquisition [Line Items]

Number of units issued for funding purchase price (in shares) | shares

91,236

Value of units issued for funding purchase price

$ 19,700

Acquisitions and Disposition 44

Acquisitions and Disposition - 2014 Acquisitions (Details) $ in Thousands

Dec. 30, 2014USD ($)buildings

Dec. 18, 2014USD ($)

Nov. 26, 2014USD ($)buildings

Nov. 20, 2014USD ($)buildings

Oct. 29, 2014USD ($)buildings

Sep. 30, 2014USD ($)buildingsshares

Sep. 10, 2014USD ($)

Sep. 05, 2014USD ($)shares

Sep. 02, 2014USD ($)

Jul. 31, 2014USD ($)

Jul. 28, 2014USD ($)

Jul. 25, 2014USD ($)

Jul. 01, 2014USD ($)buildingsshares

Jun. 30, 2014USD ($)

May. 28, 2014USD ($)shares

May. 23, 2014USD ($)shares

Apr. 30, 2014USD ($)

Apr. 22, 2014USD ($)buildings

Mar. 28, 2014USD ($)

Feb. 28, 2014USD ($)

Feb. 26, 2014USD ($)buildings

Feb. 19, 2014USD ($)buildings

Jul. 24, 2013properties

Dec. 31, 2015USD ($)stateshealthcareproperty

Dec. 31, 2014USD ($)propertiesstates

Business Acquisition [Line Items]

Number of operating healthcare properties

66

61

Number of states in which operating healthcare properties and land parcel located | states

22

15

Number of medical office buildings | properties

19

Acquisition price

$ 840,958

$ 543,436

Foundations San Antonio Surgical Hospital

Business Acquisition [Line Items]

Acquisition price

$ 25,556

Eagles Landing Family Practice 4 MOBs

Business Acquisition [Line Items]

Number of medical office buildings | buildings

4

Acquisition price

$ 20,800

21st Century Oncology 4 MOBs

Business Acquisition [Line Items]

Number of medical office buildings | buildings

4

Acquisition price

$ 17,486

Foundations San Antonio MOB

Business Acquisition [Line Items]

Acquisition price

$ 6,800

Peachtree Dunwoody MOB

Business Acquisition [Line Items]

Acquisition price

$ 36,726

LifeCare LTACH

Business Acquisition [Line Items]

Acquisition price

$ 27,160

LifeCare LTACH

Business Acquisition [Line Items]

Acquisition price

$ 12,840

Pinnacle Health Cardiology Portfolio 2 MOBs

Business Acquisition [Line Items]

Number of medical office buildings | buildings

2

Acquisition price

$ 9,208

South Bend Orthopaedic MOB

Business Acquisition [Line Items]

Acquisition price

$ 14,900

Grenada Medical Complex MOB

Business Acquisition [Line Items]

Acquisition price

$ 7,100

Mississippi Sports Medicine and Orthopaedics Center MOB

Business Acquisition [Line Items]

Acquisition price

$ 16,700

Carmel Medical Pavilion MOB

Business Acquisition [Line Items]

Acquisition price

$ 4,664

Summit Urology MOB

Business Acquisition [Line Items]

Acquisition price

$ 4,783

Renaissance Center

Business Acquisition [Line Items]

Acquisition price

8,500

Presbyterian Medical Plaza MOB

Business Acquisition [Line Items]

Acquisition price

$ 7,750

Landmark Medical Portfolio (Premier) 3 MOBs

Business Acquisition [Line Items]

Number of medical office buildings | buildings

3

Acquisition price

$ 23,837

Carlisle II MOB

Business Acquisition [Line Items]

Acquisition price

$ 4,500

Surgical Institute of Monroe ASC

Business Acquisition [Line Items]

Acquisition price

$ 6,000

The Oaks Medical Building MOB

Business Acquisition [Line Items]

Acquisition price

$ 10,600

Baylor Surgicare ASC — Mansfield

Business Acquisition [Line Items]

Acquisition price

$ 8,500

Eye Center of Southern Indiana

Business Acquisition [Line Items]

Acquisition price

$ 12,174

Wayne State Medical Center and MOB

Business Acquisition [Line Items]

Acquisition price

$ 46,500

El Paso Portfolio (specialty surgical hospital and 2 MOBs)

Business Acquisition [Line Items]

Number of medical office buildings | buildings

2,000

Acquisition price

$ 46,235

The Mark H. Zangmeister Center

Business Acquisition [Line Items]

Acquisition price

36,600

Berger Medical Center

Business Acquisition [Line Items]

Acquisition price

$ 6,785

Orthopedic One 2 MOBs

Business Acquisition [Line Items]

Number of medical office buildings | buildings

2

Acquisition price

$ 24,500

Pinnacle Health Portfolio 5 MOBs

Business Acquisition [Line Items]

Number of medical office buildings | buildings

5

Acquisition price

$ 23,100

Columbus Regional Health Portfolio 12 MOBs Columbus Regional Health Portfolio 1 MOB

Business Acquisition [Line Items]

Acquisition price

$ 27,997

Middletown Medical 2 MOBs

Business Acquisition [Line Items]

Number of medical office buildings | buildings

2

Acquisition price

$ 14,399

Carle Danville Clinic MOB

Business Acquisition [Line Items]

Acquisition price

$ 10,300

Napoleon Medical Building MOB

Business Acquisition [Line Items]

Acquisition price

$ 10,500

West Tennessee Bone & Joint 1 MOB 1 ASC

Business Acquisition [Line Items]

Number of medical office buildings | buildings

1

Number of ambulatory surgical centers | buildings

1,000

Acquisition price

$ 9,936

Operating Partnership | Mississippi Sports Medicine and Orthopaedics Center MOB

Business Acquisition [Line Items]

Number of units issued for funding purchase price (in shares) | shares

147,659

Value of units issued for funding purchase price

$ 1,900

Operating Partnership | Carmel Medical Pavilion MOB

Business Acquisition [Line Items]

Number of units issued for funding purchase price (in shares) | shares

96,099

Value of units issued for funding purchase price

$ 1,200

Operating Partnership | Landmark Medical Portfolio (Premier) 3 MOBs

Business Acquisition [Line Items]

Number of units issued for funding purchase price (in shares) | shares

576,040

Value of units issued for funding purchase price

$ 8,300

Operating Partnership | Eye Center of Southern Indiana

Business Acquisition [Line Items]

Number of units issued for funding purchase price (in shares) | shares

272,191

Value of units issued for funding purchase price

$ 4,000

Operating Partnership | El Paso Portfolio (specialty surgical hospital and 2 MOBs)

Business Acquisition [Line Items]

Number of units issued for funding purchase price (in shares) | shares

950,324

Value of units issued for funding purchase price

$ 13,200

Georgia | Columbus Regional Health Portfolio 12 MOBs Columbus Regional Health Portfolio 1 MOB

Business Acquisition [Line Items]

Number of medical office buildings | buildings

12

Alabama | Columbus Regional Health Portfolio 12 MOBs Columbus Regional Health Portfolio 1 MOB

Business Acquisition [Line Items]

Number of medical office buildings | buildings

1,000

Acquisitions and Disposition 45

Acquisitions and Disposition - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Jul. 24, 2013
Fair values of the assets acquired and the liabilities assumed
Land	$ 52,224	$ 53,687
Building and improvements	643,470	451,691
Investment in unconsolidated entity	0	1,300
Lease inducement	2,478	1,532
Leasehold interest	0	759
Derivative liability assumed	0	(197)
Contingent consideration	(2,718)	(840)
Receivable	3,564	640
Debt assumed	(18,690)	(15,283)	$ (84,300)
Issuance of OP Units	(10,973)	(28,589)
Issuance of Series A Preferred Units	(29,403)	0
Noncontrolling interest	(13,970)	0
Net assets acquired	755,285	502,659
In-place lease intangibles
Fair values of the assets acquired and the liabilities assumed
Intangible assets	99,763	35,720
Above market lease intangibles
Fair values of the assets acquired and the liabilities assumed
Intangible assets	19,337	5,270
Below market lease intangibles
Fair values of the assets acquired and the liabilities assumed
Intangible liabilities	(3,738)	(2,330)
Below market ground lease
Fair values of the assets acquired and the liabilities assumed
Intangible assets	13,941	0
Above market ground lease
Fair values of the assets acquired and the liabilities assumed
Intangible liabilities	$ 0	$ (701)

Acquisitions and Disposition 46

Acquisitions and Disposition - Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Unaudited Pro Forma Financial Information
Revenue	$ 168,154	$ 133,411
Net income	38,959	17,512
Net income available to common shareholders	$ 36,938	$ 16,599
Earnings per share basic (in dollars per share)	$ 0.42	$ 0.19
Earnings per share diluted (in dollars per share)	$ 0.42	$ 0.19
Common shares outstanding	87,175,904	87,175,904

Intangibles - Carrying Amount o

Intangibles - Carrying Amount of Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Cost	$ 205,168	$ 72,985
Accumulated Amortization	(30,008)	(12,796)
Net	175,160	60,189
Liability
Cost	6,769	3,031
Accumulated Amortization	(819)	(160)
Net	5,950	2,871
In-place leases
Finite-Lived Intangible Assets [Line Items]
Cost	163,728	64,777
Accumulated Amortization	(26,702)	(12,213)
Net	137,026	52,564
Above market leases
Finite-Lived Intangible Assets [Line Items]
Cost	26,787	7,449
Accumulated Amortization	(3,174)	(578)
Net	23,613	6,871
Leasehold interest
Finite-Lived Intangible Assets [Line Items]
Cost	712	759
Accumulated Amortization	(64)	(5)
Net	648	754
Below Market Ground Lease
Finite-Lived Intangible Assets [Line Items]
Cost	13,941	0
Accumulated Amortization	(68)	0
Net	13,873	0
Below market in-place lease
Liability
Below market lease, cost	6,068	2,330
Below market lease, accumulated amortization	(799)	(156)
Below Market Lease, Net	5,269	2,174
Above market ground lease
Liability
Cost	701	701
Accumulated Amortization	(20)	(4)
Net	$ 681	$ 697

Intangibles - Acquired Lease In

Intangibles - Acquired Lease Intangible Amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
In-place leases
Finite-Lived Intangible Assets [Line Items]
Amortization expense related to in-place leases	$ 15,300	$ 4,133	$ 1,252
Above market leases
Finite-Lived Intangible Assets [Line Items]
Decrease of rental income	2,596	530	48
Leasehold interest
Finite-Lived Intangible Assets [Line Items]
Decrease of rental income	59	5	0
Below market in-place lease
Finite-Lived Intangible Assets [Line Items]
Increase of rental income	643	156	0
Above market ground lease
Finite-Lived Intangible Assets [Line Items]
Decrease (increase) of operating expense	16	4	0
Below Market Ground Lease
Finite-Lived Intangible Assets [Line Items]
Decrease (increase) of operating expense	$ 68	$ 0	$ 0

Intangibles - Amortization of A

Intangibles - Amortization of Acquired Lease Intangibles (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Future aggregate net amortization of acquired lease intangibles (Net decrease in Revenue)
2,016	$ (3,016)
2,017	(2,447)
2,018	(2,162)
2,019	(1,982)
2,020	(1,886)
Thereafter	(7,499)
Total	(18,992)
Future aggregate net amortization of acquired lease intangibles (Net Increase in Expenses)
2,016	20,760
2,017	18,743
2,018	17,283
2,019	14,161
2,020	12,427
Thereafter	66,844
Total	$ 150,218
Weighted average amortization period for lease intangibles	15 years
Weighted average amortization period for lease intangible liability	12 years

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Other Assets, Unclassified [Abstract]
Straight line rent receivable	$ 15,584	$ 6,431
Lease inducements, net	4,970	2,845
Escrows	4,788	1,906
Earnest deposits	343	2,343
Notes receivable	20,620	0
Prepaid expenses and other	5,926	2,281
Total	$ 52,231	$ 15,806

Debt - Summary of Debt (Details

Debt - Summary of Debt (Details)	12 Months Ended
	Dec. 31, 2015USD ($)properties	Dec. 31, 2014USD ($)properties	Jul. 22, 2015USD ($)	Sep. 18, 2014USD ($)
Debt
Total mortgage debt	$ 93,926,000	$ 78,105,000
Unsecured Debt	395,000,000	138,000,000
Total principal	488,926,000	216,105,000
Unamortized fair value adjustment	674,000	0
Total debt	489,600,000	216,105,000
Mortgage notes, bearing fixed interest from 4.71% to 6.58%
Debt
Total mortgage debt	$ 89,664,000	$ 73,706,000
Weighted average interest rate (as a percent)	5.40%	5.26%
Number of properties included in collateralized | properties	11	9
Net book value of properties included in the collateralized	$ 145,038,000	$ 118,247,000
Mortgage notes, bearing fixed interest from 4.71% to 6.58% | Minimum
Debt
Interest rate (as a percent)	4.71%	4.71%
Mortgage notes, bearing fixed interest from 4.71% to 6.58% | Maximum
Debt
Interest rate (as a percent)	6.58%	6.58%
Mortgage note, bearing variable interest of LIBOR plus 2.75%
Debt
Total mortgage debt	$ 4,262,000	$ 4,399,000
Number of properties included in collateralized | properties	1	1
Net book value of properties included in the collateralized	$ 5,994,000	$ 6,249,000
Mortgage note, bearing variable interest of LIBOR plus 2.75% | LIBOR
Debt
Reference rate (as a percent)	2.75%	2.75%
Credit Agreement
Debt
Unsecured Debt	$ 395,000,000	$ 138,000,000
Maximum borrowing capacity	$ 750,000,000		$ 400,000,000	$ 400,000,000
Credit Agreement | LIBOR
Debt
Reference rate (as a percent)	1.20%

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Jul. 22, 2015	Sep. 18, 2014
LIBOR | Adjusted LIBOR Rate Loans and Letter of Credit | Consolidated Leverage Ratio, 35%
Debt
Reference rate (as a percent)	0.85%
LIBOR | Adjusted LIBOR Rate Loans and Letter of Credit | Consolidated Leverage Ratio, >35% and 45%
Debt
Reference rate (as a percent)	0.90%
LIBOR | Adjusted LIBOR Rate Loans and Letter of Credit | Consolidated Leverage Ratio, >45% and 45%
Debt
Reference rate (as a percent)	1.00%
LIBOR | Adjusted LIBOR Rate Loans and Letter of Credit | Consolidated Leverage Ratio, >45% and 50%
Debt
Reference rate (as a percent)	1.20%
LIBOR | Adjusted LIBOR Rate Loans and Letter of Credit | Consolidated Leverage Ratio, >50% and 55%
Debt
Reference rate (as a percent)	1.55%
Base Rate | Base Rate Loans | Consolidated Leverage Ratio, 35%
Debt
Reference rate (as a percent)	0.00%
Base Rate | Base Rate Loans | Consolidated Leverage Ratio, >35% and 45%
Debt
Reference rate (as a percent)	0.00%
Base Rate | Base Rate Loans | Consolidated Leverage Ratio, >45% and 45%
Debt
Reference rate (as a percent)	0.10%
Base Rate | Base Rate Loans | Consolidated Leverage Ratio, >45% and 50%
Debt
Reference rate (as a percent)	0.20%
Base Rate | Base Rate Loans | Consolidated Leverage Ratio, >50% and 55%
Debt
Reference rate (as a percent)	0.60%
Credit Agreement
Debt
Maximum borrowing capacity	$ 750,000,000	$ 400,000,000	$ 400,000,000
Maximum borrowing capacity as a percentage of maximum principal amount			10.00%
Increase in maximum borrowing capacity			$ 350,000,000
Maximum borrowing capacity under accordion feature			750,000,000
Term of extension option	1 year
Unused fee (as a percent)	0.25%
Amount outstanding	$ 395,000,000
Current borrowing capacity	$ 198,700,000
Credit Agreement | Credit Agreement Amendment
Debt
Maximum borrowing capacity		$ 750,000,000
Maximum borrowing capacity as a percentage of maximum principal amount		10.00%
Increase in maximum borrowing capacity		$ 350,000,000
Maximum borrowing capacity under accordion feature		$ 1,100,000,000
Credit Agreement | LIBOR
Debt
Reference rate (as a percent)	1.20%
Prior Credit Facility
Debt
Maximum borrowing capacity			$ 200,000,000

Debt - Principal Payments Due o

Debt - Principal Payments Due on Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Scheduled principal payments
2,016	$ 9,748
2,017	40,658
2,018	1,265
2,019	415,081
2,020	5,521
Thereafter	16,653
Total Payments	488,926	$ 216,105
Interest expense	$ 9,300	$ 5,800

Accrued Expenses and Other Li54

Accrued Expenses and Other Liabilities Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Other Liabilities Disclosure [Abstract]
Embedded derivatives	$ 8,149	$ 0
Security deposits	4,038	1,191
Prepaid rent	2,778	839
Contingent consideration	2,559	840
Accrued expenses and other	6,949	3,270
Total	$ 24,473	$ 6,140

Stock-based Compensation - Rest

Stock-based Compensation - Restricted Shares (Details) - USD ($) $ / shares in Units, $ in Thousands	Aug. 07, 2014	Jul. 24, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Weighted Average Grant Date Fair Value
Non-cash share compensation			$ 3,798	$ 2,422	$ 433
2013 Plan | Restricted common shares
Stock-based compensation
Maximum number of shares authorized	2,450,000	600,000
Increase in number of common shares authorized for issuance	1,850,000
Grant date value		$ 2,900	$ 2,600	$ 2,100
Vesting period		3 years	3 years
Shares
Non-vested at the beginning of the period (in shares)			319,654	250,000
Granted (in shares)		250,000	162,522	152,987
Vested (in shares)			(170,337)	(83,333)
Non-vested at the beginning of the period (in shares)		250,000	311,839	319,654	250,000
Weighted Average Grant Date Fair Value
Non-vested at beginning of period (in dollars per share)			$ 12.60	$ 11.50
Grant date value (in dollars per share)		$ 11.50	15.95	13.79
Vested (in dollars per share)			12.93	11.50
Non-vested at beginning of period (in dollars per share)		$ 11.50	$ 14.17	$ 12.60	$ 11.50
Non-cash share compensation			$ 2,900	$ 2,200	$ 400
Unrecognized compensation expense			$ 2,100	$ 2,400	$ 2,500
Initial estimated cumulative forfeiture rate (as a percent)			0.00%
Minimum | 2013 Plan | Restricted common shares
Stock-based compensation
Vesting period			1 year	1 year
Maximum | 2013 Plan | Restricted common shares
Stock-based compensation
Vesting period				3 years

Stock-based Compensation - Re56

Stock-based Compensation - Restricted Stock Units (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Stock-based compensation
Non-cash share compensation			$ 3,798	$ 2,422	$ 433
2013 Plan | Restricted Share Units
Stock-based compensation
Non-cash share compensation			900	300
Unrecognized compensation expense			$ 1,600	$ 700
Share based compensation fair value assumptions
Volatility	20.70%
Expected term in years	2 years 9 months 18 days	2 years 9 months 18 days
Risk-free rate	1.14%	0.65%
Share price (per share)	$ 15.87	$ 13.47
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-vested at the beginning of the period (in shares)			55,680	0
Granted (in shares)	75,250	55,680	116,207		55,680
Non-vested at the beginning of the period (in shares)			171,887	55,680	0
Non-vested at beginning of period (in dollars per share)			$ 16.94	$ 0
Grant date value (in dollars per share)			19.22		$ 16.94
Non-vested at beginning of period (in dollars per share)			$ 18.48	$ 16.94	$ 0
2013 Plan | Restricted Share Units | Trustees
Stock-based compensation
Vesting period		2 years
Number of dividend equivalent included in award	1
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in shares)	40,957
2013 Plan | Market Based RSU | Officer
Stock-based compensation
Percentage of shares awarded	80.00%
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Grant date value (in dollars per share)	$ 20.06	$ 19.25
2013 Plan | Performance Based RSU | Officer
Stock-based compensation
Percentage of shares awarded	20.00%
Performance conditions grant date fair value (in dollars per share)	$ 15.87
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Grant date value (in dollars per share)	$ 19.22
Minimum | 2013 Plan | Restricted Share Units
Share based compensation fair value assumptions
Volatility		18.80%
Maximum | 2013 Plan | Restricted Share Units
Share based compensation fair value assumptions
Volatility		34.20%

Fair Value Measurements (Detail

Fair Value Measurements (Details) $ in Thousands	Dec. 31, 2015USD ($)instruments	Dec. 31, 2014USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of derivative instruments | instruments	3
Real estate loans receivable	$ 39,349	$ 15,876
Credit facility	$ (395,000)	(138,000)
Embedded Derivative Financial Instruments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of derivative instruments | instruments	2
Reported Value Measurement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Real estate loans receivable	$ 39,349	15,876
Credit facility	(395,000)	(138,000)
Mortgage debt	(94,600)	(78,105)
Estimate of Fair Value Measurement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Real estate loans receivable	39,349	15,876
Credit facility	(395,000)	(138,000)
Mortgage debt	(95,275)	(78,642)
Recurring | Reported Value Measurement | Interest Rate Swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liabilities	(8,216)	(233)
Recurring | Estimate of Fair Value Measurement | Interest Rate Swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liabilities	$ (8,216)	$ (233)

Tenant Operating Leases (Detail

Tenant Operating Leases (Details) $ in Thousands	Dec. 31, 2015USD ($)
Future minimum rental payments on non-cancelable leases
2,016	$ 119,218
2,017	115,974
2,018	110,927
2,019	106,196
2,020	102,326
Thereafter	724,590
Total	$ 1,279,231

Rent Expense (Details)

Rent Expense (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)properties	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Leases [Abstract]
Number of properties pursuant to ground leases | properties	14
Number of properties pursuant to parking lease | properties	2
Maximum lease terms	90 years
Future minimum lease obligations under non-cancelable ground leases
2,016	$ 1,316
2,017	1,353
2,018	1,394
2,019	1,437
2,020	1,482
Thereafter	16,377
Total	23,359
Rent expenses for parking and ground leases	$ 1,300	$ 900	$ 20

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								5 Months Ended	12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Numerator for earnings per share - basic:
Net income (loss)	$ 5,909	$ 3,983	$ 3,297	$ (448)	$ 1,991	$ (2,251)	$ (600)	$ (3,558)	$ (2,060)	$ 12,741	$ (4,418)	$ (2,636)
Net (income) loss attributable to Predecessor:										0	0	576
Net Income (Loss) Attributable to Noncontrolling Interest [Abstract]
Operating Partnership										(576)	695	470
Partially owned properties										(377)	(314)	(71)
Preferred distributions										(1,189)	0	0
Net income (loss) attributable to common shareholders	5,146	3,404	2,571	(522)	1,711	(2,094)	(561)	(3,093)		10,599	(4,037)	(1,661)
Numerator for earnings per share - diluted:
Net income (loss) attributable to common shareholders	$ 5,146	$ 3,404	$ 2,571	$ (522)	$ 1,711	$ (2,094)	$ (561)	$ (3,093)		10,599	(4,037)	(1,661)
Operating Partnership net income										576	0	0
Numerator for earnings per share - diluted										$ 11,175	$ (4,037)	$ (1,661)
Denominator for EPS - basic and diluted:
Denominator for earnings per share - basic (in shares)	83,761,536	71,034,747	70,376,959	65,649,478	48,145,409	36,313,644	26,163,982	21,298,597		72,750,724	33,063,093	12,883,917
Dilutive Securities, Effect on Basic Earnings Per Share [Abstract]
Noncontrolling interest - Operating Partnership units										3,708,494	0	0
Denominator for earnings per share - diluted shares	87,911,097	75,104,821	74,267,284	65,649,478	48,354,493	36,313,644	26,163,982	21,298,597		76,792,073	33,063,093	12,883,917
Earnings per share - basic (in dollars per share)	$ 0.06	$ 0.05	$ 0.04	$ (0.01)	$ 0.04	$ (0.06)	$ (0.02)	$ (0.15)		$ 0.15	$ (0.12)	$ (0.13)
Earnings per share - diluted (in dollars per share)	$ 0.06	$ 0.05	$ 0.04	$ (0.01)	$ 0.04	$ (0.06)	$ (0.02)	$ (0.15)		$ 0.15	$ (0.12)	$ (0.13)
Restricted common shares
Dilutive Securities, Effect on Basic Earnings Per Share [Abstract]
Effect of dilutive securities, Restricted shares and RSU										190,619	0	0
Restricted Share Units
Dilutive Securities, Effect on Basic Earnings Per Share [Abstract]
Effect of dilutive securities, Restricted shares and RSU										142,236	0	0

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	Oct. 19, 2015	Jan. 21, 2015	Aug. 19, 2014	Jul. 24, 2013	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Jul. 31, 2014
Related Party Transaction [Line Items]
Common shares sold (in shares)	15,812,500	18,975,000		11,753,597
Common shares sold (in shares)					$ 225,920	$ 545,117	$ 350,385
Ziegler
Related Party Transaction [Line Items]
Servicing fee							400	$ 300
Amendment payment									$ 1,800
Common shares sold (in shares)			124,913
Selling, General and Administrative Expenses | Ziegler
Related Party Transaction [Line Items]
Servicing fee							$ 1,800

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)

Feb. 26, 2016

Feb. 12, 2016

Feb. 08, 2016

Feb. 04, 2016

Feb. 01, 2016

Jan. 25, 2016

Oct. 19, 2015

Jan. 21, 2015

Sep. 12, 2014

May. 27, 2014

Dec. 11, 2013

Jul. 24, 2013

Feb. 14, 2016

Feb. 22, 2016

Dec. 31, 2015

Dec. 31, 2014

Jan. 07, 2016

Subsequent events

Purchase price

$ 840,958,000

$ 543,436,000

Common shares sold (in shares)

15,812,500

18,975,000

11,753,597

Shares issued upon exercise of the underwriters' overallotment option

2,062,500

2,475,000

1,425,000

1,650,000

1,245,000

Proceeds from Issuance of Common Stock

$ 226,800,000

$ 297,300,000

$ 145,700,000

$ 149,900,000

$ 103,100,000

Subsequent Events

Subsequent events

Purchase price

$ 105,597,000

Common shares sold (in shares)

21,275,000

Shares issued upon exercise of the underwriters' overallotment option

2,775,000

Proceeds from Issuance of Common Stock

$ 320,900,000

Subsequent Events | Medical Office Building Condominium Unit | Randall Road MOB - Suite 380

Subsequent events

Purchase price

$ 704,000

Subsequent Events | Medical Office Building Condominium Unit | Physicians Medical Plaza MOB

Subsequent events

Purchase price

$ 8,500,000

Subsequent Events | Medical Office Building Condominium Unit | St. Luke's Cornwall MOB

Subsequent events

Purchase price

$ 14,550,000

Subsequent Events | Medical Building | Great Falls Hospital

Subsequent events

Purchase price

$ 29,043,000

Subsequent Events | Medical Building | Mezzanine Loan - Davis

Subsequent events

Purchase price

$ 500,000

Subsequent Events | Medical Building | Park Nicollet Clinic

Subsequent events

Purchase price

$ 18,600,000

Subsequent Events | Medical Building | HEB Cancer Center

Subsequent events

Purchase price

$ 14,000,000

Subsequent Events | Medical Building | Riverview Medical Center

Subsequent events

Purchase price

$ 12,800,000

Subsequent Events | Ambulatory Surgical Center | Monterey Medical Center ASC

Subsequent events

Purchase price

$ 6,900,000

Operating Partnership | Subsequent Events

Subsequent events

Common shares sold (in shares)

21,275,000

Series A | Subsequent Events

Subsequent events

Interest rate (as a percent)

4.03%

Series B | Subsequent Events

Subsequent events

Interest rate (as a percent)

4.43%

Series C | Subsequent Events

Subsequent events

Interest rate (as a percent)

4.57%

Series D | Subsequent Events

Subsequent events

Interest rate (as a percent)

4.74%

Senior Notes | Subsequent Events

Subsequent events

Total mortgage debt

$ 150,000,000

Senior Notes | Series A | Subsequent Events

Subsequent events

Total mortgage debt

15,000,000

Senior Notes | Series B | Subsequent Events

Subsequent events

Total mortgage debt

45,000,000

Senior Notes | Series C | Subsequent Events

Subsequent events

Total mortgage debt

45,000,000

Senior Notes | Series D | Subsequent Events

Subsequent events

Total mortgage debt

$ 45,000,000

Quarterly Data (Details)

Quarterly Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								5 Months Ended	12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Total revenues	$ 40,404	$ 34,870	$ 29,683	$ 24,484	$ 19,694	$ 14,161	$ 11,447	$ 8,032		$ 129,441	$ 53,334	$ 17,045
Operating (loss) income	5,883	3,812	3,271	(459)	1,967	(2,311)	(626)	(3,575)		12,507	(4,545)	(2,634)
Net income	5,909	3,983	3,297	(448)	1,991	(2,251)	(600)	(3,558)	$ (2,060)	12,741	(4,418)	(2,636)
Net (loss) income attributable to common shareholders	$ 5,146	$ 3,404	$ 2,571	$ (522)	$ 1,711	$ (2,094)	$ (561)	$ (3,093)		$ 10,599	$ (4,037)	$ (1,661)
Earnings per share – basic:
Earnings per share - basic (in dollars per share)	$ 0.06	$ 0.05	$ 0.04	$ (0.01)	$ 0.04	$ (0.06)	$ (0.02)	$ (0.15)		$ 0.15	$ (0.12)	$ (0.13)
Basic (in shares)	83,761,536	71,034,747	70,376,959	65,649,478	48,145,409	36,313,644	26,163,982	21,298,597		72,750,724	33,063,093	12,883,917
Earnings per share – diluted:
Earnings per share - diluted (in dollars per share)	$ 0.06	$ 0.05	$ 0.04	$ (0.01)	$ 0.04	$ (0.06)	$ (0.02)	$ (0.15)		$ 0.15	$ (0.12)	$ (0.13)
Diluted (in shares)	87,911,097	75,104,821	74,267,284	65,649,478	48,354,493	36,313,644	26,163,982	21,298,597		76,792,073	33,063,093	12,883,917

SCHEDULE III - REAL ESTATE AN64

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 93,926
Initial Cost to Company, Land	130,788
Initial Cost to Company, Buildings and Improvements	1,277,934
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	16,172
Gross Amount at Which Carried as of Close of Period, Land	130,788
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	1,294,106
Gross Amount at Which Carried as of Close of Period, Total	1,424,894	$ 729,034	$ 224,730	$ 111,149
Accumulated Depreciation	(61,242)	$ (32,772)	$ (20,299)	$ (16,495)
Arrowhead Commons
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company, Land	740
Initial Cost to Company, Buildings and Improvements	2,551
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	420
Gross Amount at Which Carried as of Close of Period, Land	740
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	2,971
Gross Amount at Which Carried as of Close of Period, Total	3,711
Accumulated Depreciation	$ (427)
Life on Which Building Depreciation in Income Statement is Computed	46 years
Aurora Medical Office Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	500
Initial Cost to Company, Buildings and Improvements	1,566
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	500
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	1,566
Gross Amount at Which Carried as of Close of Period, Total	2,066
Accumulated Depreciation	$ (180)
Life on Which Building Depreciation in Income Statement is Computed	50 years
Austell Medical Office Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	289
Initial Cost to Company, Buildings and Improvements	1,992
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	334
Gross Amount at Which Carried as of Close of Period, Land	289
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	2,326
Gross Amount at Which Carried as of Close of Period, Total	2,615
Accumulated Depreciation	$ (482)
Life on Which Building Depreciation in Income Statement is Computed	36 years
Canton Medical Office Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 6,099
Initial Cost to Company, Land	710
Initial Cost to Company, Buildings and Improvements	7,225
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	114
Gross Amount at Which Carried as of Close of Period, Land	710
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	7,339
Gross Amount at Which Carried as of Close of Period, Total	8,049
Accumulated Depreciation	$ (2,095)
Life on Which Building Depreciation in Income Statement is Computed	35 years
Decatur Medical Office Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	740
Initial Cost to Company, Buildings and Improvements	2,604
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	44
Gross Amount at Which Carried as of Close of Period, Land	740
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	2,648
Gross Amount at Which Carried as of Close of Period, Total	3,388
Accumulated Depreciation	$ (774)
Life on Which Building Depreciation in Income Statement is Computed	28 years
El Paso Medical Office Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	860
Initial Cost to Company, Buildings and Improvements	2,866
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	369
Gross Amount at Which Carried as of Close of Period, Land	860
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	3,235
Gross Amount at Which Carried as of Close of Period, Total	4,095
Accumulated Depreciation	$ (1,465)
Life on Which Building Depreciation in Income Statement is Computed	21 years
Farmington Professional Pavilion
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	580
Initial Cost to Company, Buildings and Improvements	1,793
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	110
Gross Amount at Which Carried as of Close of Period, Land	580
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	1,903
Gross Amount at Which Carried as of Close of Period, Total	2,483
Accumulated Depreciation	$ (1,204)
Life on Which Building Depreciation in Income Statement is Computed	15 years
Firehouse Square
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 2,699
Initial Cost to Company, Land	1,120
Initial Cost to Company, Buildings and Improvements	2,768
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	1,120
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	2,768
Gross Amount at Which Carried as of Close of Period, Total	3,888
Accumulated Depreciation	$ (777)
Life on Which Building Depreciation in Income Statement is Computed	30 years
Hackley Medical Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 5,283
Initial Cost to Company, Land	1,840
Initial Cost to Company, Buildings and Improvements	6,402
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	36
Gross Amount at Which Carried as of Close of Period, Land	1,840
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	6,438
Gross Amount at Which Carried as of Close of Period, Total	8,278
Accumulated Depreciation	$ (1,908)
Life on Which Building Depreciation in Income Statement is Computed	30 years
MeadowView Professional Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 10,225
Initial Cost to Company, Land	2,270
Initial Cost to Company, Buildings and Improvements	11,344
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	2,270
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	11,344
Gross Amount at Which Carried as of Close of Period, Total	13,614
Accumulated Depreciation	$ (3,300)
Life on Which Building Depreciation in Income Statement is Computed	30 years
Mid Coast Hospital MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 7,656
Initial Cost to Company, Land	0
Initial Cost to Company, Buildings and Improvements	11,247
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	20
Gross Amount at Which Carried as of Close of Period, Land	0
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	11,267
Gross Amount at Which Carried as of Close of Period, Total	11,267
Accumulated Depreciation	$ (2,854)
Life on Which Building Depreciation in Income Statement is Computed	42 years
New Albany Professional Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	237
Initial Cost to Company, Buildings and Improvements	2,767
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	317
Gross Amount at Which Carried as of Close of Period, Land	237
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	3,084
Gross Amount at Which Carried as of Close of Period, Total	3,321
Accumulated Depreciation	$ (550)
Life on Which Building Depreciation in Income Statement is Computed	42 years
Northpark Trail
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	839
Initial Cost to Company, Buildings and Improvements	1,245
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	235
Gross Amount at Which Carried as of Close of Period, Land	839
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	1,480
Gross Amount at Which Carried as of Close of Period, Total	2,319
Accumulated Depreciation	$ (582)
Life on Which Building Depreciation in Income Statement is Computed	35 years
Remington Medical Commons
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 4,262
Initial Cost to Company, Land	895
Initial Cost to Company, Buildings and Improvements	6,499
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	319
Gross Amount at Which Carried as of Close of Period, Land	895
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	6,818
Gross Amount at Which Carried as of Close of Period, Total	7,713
Accumulated Depreciation	$ (1,719)
Life on Which Building Depreciation in Income Statement is Computed	30 years
Summit Healthplex
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	2,633
Initial Cost to Company, Buildings and Improvements	15,576
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	5,012
Gross Amount at Which Carried as of Close of Period, Land	2,633
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	20,588
Gross Amount at Which Carried as of Close of Period, Total	23,221
Accumulated Depreciation	$ (4,311)
Life on Which Building Depreciation in Income Statement is Computed	44 years
Valley West Hospital MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 4,768
Initial Cost to Company, Land	0
Initial Cost to Company, Buildings and Improvements	6,275
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	611
Gross Amount at Which Carried as of Close of Period, Land	0
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	6,886
Gross Amount at Which Carried as of Close of Period, Total	6,886
Accumulated Depreciation	$ (1,845)
Life on Which Building Depreciation in Income Statement is Computed	30 years
East El Paso Medical Office Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	710
Initial Cost to Company, Buildings and Improvements	4,500
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	710
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	4,500
Gross Amount at Which Carried as of Close of Period, Total	5,210
Accumulated Depreciation	$ (300)
Life on Which Building Depreciation in Income Statement is Computed	35 years
East El Paso Surgical Hospital
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	3,070
Initial Cost to Company, Buildings and Improvements	23,627
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	3,070
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	23,627
Gross Amount at Which Carried as of Close of Period, Total	26,697
Accumulated Depreciation	$ (1,531)
Life on Which Building Depreciation in Income Statement is Computed	36 years
LifeCare Plano LTACH
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	3,370
Initial Cost to Company, Buildings and Improvements	11,689
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	455
Gross Amount at Which Carried as of Close of Period, Land	3,370
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	12,144
Gross Amount at Which Carried as of Close of Period, Total	15,514
Accumulated Depreciation	$ (1,115)
Life on Which Building Depreciation in Income Statement is Computed	25 years
Crescent City Surgical Centre
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 18,750
Initial Cost to Company, Land	0
Initial Cost to Company, Buildings and Improvements	34,208
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	0
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	34,208
Gross Amount at Which Carried as of Close of Period, Total	34,208
Accumulated Depreciation	$ (1,604)
Life on Which Building Depreciation in Income Statement is Computed	48 years
Foundation Surgical Affiliates Medical Office Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 7,474
Initial Cost to Company, Land	1,300
Initial Cost to Company, Buildings and Improvements	12,724
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	1,300
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	12,724
Gross Amount at Which Carried as of Close of Period, Total	14,024
Accumulated Depreciation	$ (666)
Life on Which Building Depreciation in Income Statement is Computed	43 years
Pensacola Medical Office Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	990
Initial Cost to Company, Buildings and Improvements	5,005
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	15
Gross Amount at Which Carried as of Close of Period, Land	990
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	5,020
Gross Amount at Which Carried as of Close of Period, Total	6,010
Accumulated Depreciation	$ (230)
Life on Which Building Depreciation in Income Statement is Computed	49 years
Central Ohio Neurosurgical Surgeons Medical Office
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	981
Initial Cost to Company, Buildings and Improvements	7,620
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	981
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	7,620
Gross Amount at Which Carried as of Close of Period, Total	8,601
Accumulated Depreciation	$ (361)
Life on Which Building Depreciation in Income Statement is Computed	44 years
Great Falls Ambulatory Surgery Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	203
Initial Cost to Company, Buildings and Improvements	3,224
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	203
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	3,224
Gross Amount at Which Carried as of Close of Period, Total	3,427
Accumulated Depreciation	$ (199)
Life on Which Building Depreciation in Income Statement is Computed	33 years
Eagles Landing Family Practice Medical Office Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	800
Initial Cost to Company, Buildings and Improvements	3,345
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	1,548
Gross Amount at Which Carried as of Close of Period, Land	800
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	4,893
Gross Amount at Which Carried as of Close of Period, Total	5,693
Accumulated Depreciation	$ (254)
Life on Which Building Depreciation in Income Statement is Computed	36 years
Eagles Landing Family Practice Medical Office Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	800
Initial Cost to Company, Buildings and Improvements	3,345
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	1,255
Gross Amount at Which Carried as of Close of Period, Land	800
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	4,600
Gross Amount at Which Carried as of Close of Period, Total	5,400
Accumulated Depreciation	$ (227)
Life on Which Building Depreciation in Income Statement is Computed	38 years
Eagles Landing Family Practice Medical Office Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	1,000
Initial Cost to Company, Buildings and Improvements	3,345
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	1,000
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	3,345
Gross Amount at Which Carried as of Close of Period, Total	4,345
Accumulated Depreciation	$ (172)
Life on Which Building Depreciation in Income Statement is Computed	37 years
Eagles Landing Family Practice Medical Office Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	400
Initial Cost to Company, Buildings and Improvements	3,345
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	1,741
Gross Amount at Which Carried as of Close of Period, Land	400
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	5,086
Gross Amount at Which Carried as of Close of Period, Total	5,486
Accumulated Depreciation	$ (254)
Life on Which Building Depreciation in Income Statement is Computed	37 years
Foundation San Antonio Surgical Hospital
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 9,120
Initial Cost to Company, Land	2,230
Initial Cost to Company, Buildings and Improvements	23,346
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	23
Gross Amount at Which Carried as of Close of Period, Land	2,230
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	23,369
Gross Amount at Which Carried as of Close of Period, Total	25,599
Accumulated Depreciation	$ (1,395)
Life on Which Building Depreciation in Income Statement is Computed	35 years
21st Century Radiation Oncology Centers — Sarasota
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	633
Initial Cost to Company, Buildings and Improvements	6,557
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	633
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	6,557
Gross Amount at Which Carried as of Close of Period, Total	7,190
Accumulated Depreciation	$ (464)
Life on Which Building Depreciation in Income Statement is Computed	27 years
21st Century Radiation Oncology Centers - Venice
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	814
Initial Cost to Company, Buildings and Improvements	2,952
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	814
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	2,952
Gross Amount at Which Carried as of Close of Period, Total	3,766
Accumulated Depreciation	$ (174)
Life on Which Building Depreciation in Income Statement is Computed	35 years
21st Century Radiation Oncology Centers - Engelwood
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	350
Initial Cost to Company, Buildings and Improvements	1,878
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	350
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	1,878
Gross Amount at Which Carried as of Close of Period, Total	2,228
Accumulated Depreciation	$ (100)
Life on Which Building Depreciation in Income Statement is Computed	38 years
21st Century Radiation Oncology Centers — Port Charlotte
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	269
Initial Cost to Company, Buildings and Improvements	2,326
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	269
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	2,326
Gross Amount at Which Carried as of Close of Period, Total	2,595
Accumulated Depreciation	$ (125)
Life on Which Building Depreciation in Income Statement is Computed	36 years
Foundation San Antonio Healthplex
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	911
Initial Cost to Company, Buildings and Improvements	4,189
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	911
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	4,189
Gross Amount at Which Carried as of Close of Period, Total	5,100
Accumulated Depreciation	$ (230)
Life on Which Building Depreciation in Income Statement is Computed	35 years
Peachtree Dunwoody Medical Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	6,046
Initial Cost to Company, Buildings and Improvements	27,435
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	54
Gross Amount at Which Carried as of Close of Period, Land	6,046
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	27,489
Gross Amount at Which Carried as of Close of Period, Total	33,535
Accumulated Depreciation	$ (2,063)
Life on Which Building Depreciation in Income Statement is Computed	25 years
LifeCare LTACH — Fort Worth
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	2,730
Initial Cost to Company, Buildings and Improvements	24,639
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	2,730
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	24,639
Gross Amount at Which Carried as of Close of Period, Total	27,369
Accumulated Depreciation	$ (1,476)
Life on Which Building Depreciation in Income Statement is Computed	30 years
LifeCare LTACH — Pittsburgh
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	1,142
Initial Cost to Company, Buildings and Improvements	11,737
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	1,142
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	11,737
Gross Amount at Which Carried as of Close of Period, Total	12,879
Accumulated Depreciation	$ (735)
Life on Which Building Depreciation in Income Statement is Computed	30 years
PinnacleHealth Medical Office Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	795
Initial Cost to Company, Buildings and Improvements	4,601
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	795
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	4,601
Gross Amount at Which Carried as of Close of Period, Total	5,396
Accumulated Depreciation	$ (332)
Life on Which Building Depreciation in Income Statement is Computed	25 years
Pinnacle Health Medical Office Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	424
Initial Cost to Company, Buildings and Improvements	2,232
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	424
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	2,232
Gross Amount at Which Carried as of Close of Period, Total	2,656
Accumulated Depreciation	$ (116)
Life on Which Building Depreciation in Income Statement is Computed	35 years
South Bend Orthopaedics Medical Office Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	2,418
Initial Cost to Company, Buildings and Improvements	11,355
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	2,418
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	11,355
Gross Amount at Which Carried as of Close of Period, Total	13,773
Accumulated Depreciation	$ (543)
Life on Which Building Depreciation in Income Statement is Computed	40 years
Grenada Medical Complex
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	185
Initial Cost to Company, Buildings and Improvements	5,820
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	50
Gross Amount at Which Carried as of Close of Period, Land	185
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	5,870
Gross Amount at Which Carried as of Close of Period, Total	6,055
Accumulated Depreciation	$ (381)
Life on Which Building Depreciation in Income Statement is Computed	30 years
Mississippi Ortho Medical Office Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	1,272
Initial Cost to Company, Buildings and Improvements	14,177
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	626
Gross Amount at Which Carried as of Close of Period, Land	1,272
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	14,803
Gross Amount at Which Carried as of Close of Period, Total	16,075
Accumulated Depreciation	$ (713)
Life on Which Building Depreciation in Income Statement is Computed	35 years
Carmel Medical Pavilion
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	0
Initial Cost to Company, Buildings and Improvements	3,917
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	0
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	3,917
Gross Amount at Which Carried as of Close of Period, Total	3,917
Accumulated Depreciation	$ (262)
Life on Which Building Depreciation in Income Statement is Computed	25 years
Renaissance Ambulatory Surgery Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	228
Initial Cost to Company, Buildings and Improvements	7,658
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	228
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	7,658
Gross Amount at Which Carried as of Close of Period, Total	7,886
Accumulated Depreciation	$ (298)
Life on Which Building Depreciation in Income Statement is Computed	40 years
Presbyterian Medical Plaza
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	1,195
Initial Cost to Company, Buildings and Improvements	5,681
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	6
Gross Amount at Which Carried as of Close of Period, Land	1,195
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	5,687
Gross Amount at Which Carried as of Close of Period, Total	6,882
Accumulated Depreciation	$ (202)
Life on Which Building Depreciation in Income Statement is Computed	15 years
Summit Urology
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	125
Initial Cost to Company, Buildings and Improvements	4,792
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	125
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	4,792
Gross Amount at Which Carried as of Close of Period, Total	4,917
Accumulated Depreciation	$ (246)
Life on Which Building Depreciation in Income Statement is Computed	30 years
500 Landmark
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	627
Initial Cost to Company, Buildings and Improvements	3,549
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	627
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	3,549
Gross Amount at Which Carried as of Close of Period, Total	4,176
Accumulated Depreciation	$ (158)
Life on Which Building Depreciation in Income Statement is Computed	35 years
550 Landmark
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	2,717
Initial Cost to Company, Buildings and Improvements	15,224
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	2,717
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	15,224
Gross Amount at Which Carried as of Close of Period, Total	17,941
Accumulated Depreciation	$ (680)
Life on Which Building Depreciation in Income Statement is Computed	35 years
574 Landmark
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	418
Initial Cost to Company, Buildings and Improvements	1,493
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	418
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	1,493
Gross Amount at Which Carried as of Close of Period, Total	1,911
Accumulated Depreciation	$ (68)
Life on Which Building Depreciation in Income Statement is Computed	35 years
Carlisle II MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	412
Initial Cost to Company, Buildings and Improvements	3,962
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	412
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	3,962
Gross Amount at Which Carried as of Close of Period, Total	4,374
Accumulated Depreciation	$ (131)
Life on Which Building Depreciation in Income Statement is Computed	45 years
Surgical Institute of Monroe
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	410
Initial Cost to Company, Buildings and Improvements	5,743
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	410
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	5,743
Gross Amount at Which Carried as of Close of Period, Total	6,153
Accumulated Depreciation	$ (273)
Life on Which Building Depreciation in Income Statement is Computed	35 years
The Oaks @ Lady Lake
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	1,065
Initial Cost to Company, Buildings and Improvements	8,642
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	1,065
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	8,642
Gross Amount at Which Carried as of Close of Period, Total	9,707
Accumulated Depreciation	$ (294)
Life on Which Building Depreciation in Income Statement is Computed	42 years
Mansfield ASC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	1,491
Initial Cost to Company, Buildings and Improvements	6,471
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	1,491
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	6,471
Gross Amount at Which Carried as of Close of Period, Total	7,962
Accumulated Depreciation	$ (207)
Life on Which Building Depreciation in Income Statement is Computed	46 years
Eye Center of Southern Indiana
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	910
Initial Cost to Company, Buildings and Improvements	11,477
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	910
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	11,477
Gross Amount at Which Carried as of Close of Period, Total	12,387
Accumulated Depreciation	$ (453)
Life on Which Building Depreciation in Income Statement is Computed	35 years
Wayne State
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	3,560
Initial Cost to Company, Buildings and Improvements	43,052
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	3,560
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	43,052
Gross Amount at Which Carried as of Close of Period, Total	46,612
Accumulated Depreciation	$ (1,568)
Life on Which Building Depreciation in Income Statement is Computed	38 years
Zangmeister
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	1,610
Initial Cost to Company, Buildings and Improvements	31,120
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	1,610
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	31,120
Gross Amount at Which Carried as of Close of Period, Total	32,730
Accumulated Depreciation	$ (1,017)
Life on Which Building Depreciation in Income Statement is Computed	40 years
Orthopedic One - Columbus
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	0
Initial Cost to Company, Buildings and Improvements	16,234
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	7
Gross Amount at Which Carried as of Close of Period, Land	0
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	16,241
Gross Amount at Which Carried as of Close of Period, Total	16,241
Accumulated Depreciation	$ (503)
Life on Which Building Depreciation in Income Statement is Computed	45 years
Orthopedic One - Westerville
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	362
Initial Cost to Company, Buildings and Improvements	3,944
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	362
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	3,944
Gross Amount at Which Carried as of Close of Period, Total	4,306
Accumulated Depreciation	$ (126)
Life on Which Building Depreciation in Income Statement is Computed	43 years
Berger Medical Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	0
Initial Cost to Company, Buildings and Improvements	5,950
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	0
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	5,950
Gross Amount at Which Carried as of Close of Period, Total	5,950
Accumulated Depreciation	$ (216)
Life on Which Building Depreciation in Income Statement is Computed	38 years
El Paso - Lee Trevino
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	2,294
Initial Cost to Company, Buildings and Improvements	11,316
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	365
Gross Amount at Which Carried as of Close of Period, Land	2,294
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	11,681
Gross Amount at Which Carried as of Close of Period, Total	13,975
Accumulated Depreciation	$ (514)
Life on Which Building Depreciation in Income Statement is Computed	30 years
El Paso - Murchison
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	2,283
Initial Cost to Company, Buildings and Improvements	24,543
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	27
Gross Amount at Which Carried as of Close of Period, Land	2,283
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	24,570
Gross Amount at Which Carried as of Close of Period, Total	26,853
Accumulated Depreciation	$ (1,055)
Life on Which Building Depreciation in Income Statement is Computed	30 years
El Paso - Kenworthy
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	728
Initial Cost to Company, Buildings and Improvements	2,178
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	728
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	2,178
Gross Amount at Which Carried as of Close of Period, Total	2,906
Accumulated Depreciation	$ (87)
Life on Which Building Depreciation in Income Statement is Computed	35 years
Pinnacle - 32 Northeast
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	408
Initial Cost to Company, Buildings and Improvements	3,232
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	12
Gross Amount at Which Carried as of Close of Period, Land	408
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	3,244
Gross Amount at Which Carried as of Close of Period, Total	3,652
Accumulated Depreciation	$ (128)
Life on Which Building Depreciation in Income Statement is Computed	33 years
Pinnacle - 4518 Union Deposit
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	617
Initial Cost to Company, Buildings and Improvements	7,305
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	617
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	7,305
Gross Amount at Which Carried as of Close of Period, Total	7,922
Accumulated Depreciation	$ (295)
Life on Which Building Depreciation in Income Statement is Computed	31 years
Pinnacle - 4520 Union Deposit
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	169
Initial Cost to Company, Buildings and Improvements	2,055
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	169
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	2,055
Gross Amount at Which Carried as of Close of Period, Total	2,224
Accumulated Depreciation	$ (90)
Life on Which Building Depreciation in Income Statement is Computed	28 years
Pinnacle - 240 Grandview
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	321
Initial Cost to Company, Buildings and Improvements	4,242
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	321
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	4,242
Gross Amount at Which Carried as of Close of Period, Total	4,563
Accumulated Depreciation	$ (151)
Life on Which Building Depreciation in Income Statement is Computed	35 years
Pinnacle - Market Place Way
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	808
Initial Cost to Company, Buildings and Improvements	2,383
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	6
Gross Amount at Which Carried as of Close of Period, Land	808
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	2,389
Gross Amount at Which Carried as of Close of Period, Total	3,197
Accumulated Depreciation	$ (115)
Life on Which Building Depreciation in Income Statement is Computed	35 years
CRHS - 2000 10th Avenue
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	380
Initial Cost to Company, Buildings and Improvements	2,737
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	380
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	2,737
Gross Amount at Which Carried as of Close of Period, Total	3,117
Accumulated Depreciation	$ (152)
Life on Which Building Depreciation in Income Statement is Computed	22 years
CRHS - 1942 North Avenue
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	91
Initial Cost to Company, Buildings and Improvements	273
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	91
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	273
Gross Amount at Which Carried as of Close of Period, Total	364
Accumulated Depreciation	$ (26)
Life on Which Building Depreciation in Income Statement is Computed	12 years
CRHS - 920 18th Street
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	110
Initial Cost to Company, Buildings and Improvements	281
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	110
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	281
Gross Amount at Which Carried as of Close of Period, Total	391
Accumulated Depreciation	$ (40)
Life on Which Building Depreciation in Income Statement is Computed	8 years
CRHS - 1900 10th Avenue
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	474
Initial Cost to Company, Buildings and Improvements	5,580
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	5
Gross Amount at Which Carried as of Close of Period, Land	474
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	5,585
Gross Amount at Which Carried as of Close of Period, Total	6,059
Accumulated Depreciation	$ (247)
Life on Which Building Depreciation in Income Statement is Computed	26 years
CRHS - 1800 10th Avenue
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	539
Initial Cost to Company, Buildings and Improvements	5,238
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	539
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	5,238
Gross Amount at Which Carried as of Close of Period, Total	5,777
Accumulated Depreciation	$ (216)
Life on Which Building Depreciation in Income Statement is Computed	28 years
CRHS - 705 17th Street
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	372
Initial Cost to Company, Buildings and Improvements	2,346
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	278
Gross Amount at Which Carried as of Close of Period, Land	372
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	2,624
Gross Amount at Which Carried as of Close of Period, Total	2,996
Accumulated Depreciation	$ (189)
Life on Which Building Depreciation in Income Statement is Computed	15 years
CRHS - 615 19th Street
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	75
Initial Cost to Company, Buildings and Improvements	113
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	75
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	113
Gross Amount at Which Carried as of Close of Period, Total	188
Accumulated Depreciation	$ (39)
Life on Which Building Depreciation in Income Statement is Computed	3 years
CRHS - 1968 North Avenue
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	89
Initial Cost to Company, Buildings and Improvements	32
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	89
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	32
Gross Amount at Which Carried as of Close of Period, Total	121
Accumulated Depreciation	$ (9)
Life on Which Building Depreciation in Income Statement is Computed	4 years
CRHS - 633 19th Street
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	99
Initial Cost to Company, Buildings and Improvements	255
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	99
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	255
Gross Amount at Which Carried as of Close of Period, Total	354
Accumulated Depreciation	$ (33)
Life on Which Building Depreciation in Income Statement is Computed	9 years
CRHS - 500 18th Street
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	430
Initial Cost to Company, Buildings and Improvements	170
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	430
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	170
Gross Amount at Which Carried as of Close of Period, Total	600
Accumulated Depreciation	$ (39)
Life on Which Building Depreciation in Income Statement is Computed	8 years
CRHS - 2200 Hamilton Road
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	267
Initial Cost to Company, Buildings and Improvements	1,579
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	267
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	1,579
Gross Amount at Which Carried as of Close of Period, Total	1,846
Accumulated Depreciation	$ (86)
Life on Which Building Depreciation in Income Statement is Computed	22 years
CRHS - 1810 Stadium Drive
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	202
Initial Cost to Company, Buildings and Improvements	149
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	19
Gross Amount at Which Carried as of Close of Period, Land	202
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	168
Gross Amount at Which Carried as of Close of Period, Total	370
Accumulated Depreciation	$ (31)
Life on Which Building Depreciation in Income Statement is Computed	30 years
Carle Danville MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	607
Initial Cost to Company, Buildings and Improvements	7,136
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	607
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	7,136
Gross Amount at Which Carried as of Close of Period, Total	7,743
Accumulated Depreciation	$ (250)
Life on Which Building Depreciation in Income Statement is Computed	33 years
Middletown Medical - 111 Maltese
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	670
Initial Cost to Company, Buildings and Improvements	9,921
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	37
Gross Amount at Which Carried as of Close of Period, Land	670
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	9,958
Gross Amount at Which Carried as of Close of Period, Total	10,628
Accumulated Depreciation	$ (319)
Life on Which Building Depreciation in Income Statement is Computed	35 years
Middletown Medical - 2 Edgewater
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	200
Initial Cost to Company, Buildings and Improvements	2,966
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	11
Gross Amount at Which Carried as of Close of Period, Land	200
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	2,977
Gross Amount at Which Carried as of Close of Period, Total	3,177
Accumulated Depreciation	$ (96)
Life on Which Building Depreciation in Income Statement is Computed	35 years
Napoleon Medical Office Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	1,202
Initial Cost to Company, Buildings and Improvements	7,412
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	79
Gross Amount at Which Carried as of Close of Period, Land	1,202
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	7,491
Gross Amount at Which Carried as of Close of Period, Total	8,693
Accumulated Depreciation	$ (318)
Life on Which Building Depreciation in Income Statement is Computed	25 years
West TN Bone & Joint - Physicians Drive
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	650
Initial Cost to Company, Buildings and Improvements	2,960
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	650
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	2,960
Gross Amount at Which Carried as of Close of Period, Total	3,610
Accumulated Depreciation	$ (90)
Life on Which Building Depreciation in Income Statement is Computed	35 years
West TN Bone & Joint
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	1,250
Initial Cost to Company, Buildings and Improvements	5,210
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	1,250
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	5,210
Gross Amount at Which Carried as of Close of Period, Total	6,460
Accumulated Depreciation	$ (181)
Life on Which Building Depreciation in Income Statement is Computed	31 years
Edina MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	504
Initial Cost to Company, Buildings and Improvements	10,006
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	208
Gross Amount at Which Carried as of Close of Period, Land	504
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	10,214
Gross Amount at Which Carried as of Close of Period, Total	10,718
Accumulated Depreciation	$ (513)
Life on Which Building Depreciation in Income Statement is Computed	24 years
Crystal MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	945
Initial Cost to Company, Buildings and Improvements	11,862
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	1
Gross Amount at Which Carried as of Close of Period, Land	945
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	11,863
Gross Amount at Which Carried as of Close of Period, Total	12,808
Accumulated Depreciation	$ (276)
Life on Which Building Depreciation in Income Statement is Computed	47 years
Savage MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 5,753
Initial Cost to Company, Land	1,281
Initial Cost to Company, Buildings and Improvements	10,021
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	1,281
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	10,021
Gross Amount at Which Carried as of Close of Period, Total	11,302
Accumulated Depreciation	$ (242)
Life on Which Building Depreciation in Income Statement is Computed	48 years
Dell Road MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	800
Initial Cost to Company, Buildings and Improvements	4,520
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	800
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	4,520
Gross Amount at Which Carried as of Close of Period, Total	5,320
Accumulated Depreciation	$ (120)
Life on Which Building Depreciation in Income Statement is Computed	43 years
Columbus MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	845
Initial Cost to Company, Buildings and Improvements	2,708
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	845
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	2,708
Gross Amount at Which Carried as of Close of Period, Total	3,553
Accumulated Depreciation	$ (148)
Life on Which Building Depreciation in Income Statement is Computed	22 years
Methodist Sports MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	1,050
Initial Cost to Company, Buildings and Improvements	8,556
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	1,050
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	8,556
Gross Amount at Which Carried as of Close of Period, Total	9,606
Accumulated Depreciation	$ (250)
Life on Which Building Depreciation in Income Statement is Computed	33 years
Vadnais Heights MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	2,751
Initial Cost to Company, Buildings and Improvements	12,233
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	2,751
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	12,233
Gross Amount at Which Carried as of Close of Period, Total	14,984
Accumulated Depreciation	$ (336)
Life on Which Building Depreciation in Income Statement is Computed	43 years
Minnetonka MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	1,770
Initial Cost to Company, Buildings and Improvements	19,797
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	1,770
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	19,797
Gross Amount at Which Carried as of Close of Period, Total	21,567
Accumulated Depreciation	$ (458)
Life on Which Building Depreciation in Income Statement is Computed	49 years
Jamestown MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	656
Initial Cost to Company, Buildings and Improvements	9,440
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	656
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	9,440
Gross Amount at Which Carried as of Close of Period, Total	10,096
Accumulated Depreciation	$ (269)
Life on Which Building Depreciation in Income Statement is Computed	43 years
Indiana American II
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	862
Initial Cost to Company, Buildings and Improvements	6,901
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	862
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	6,901
Gross Amount at Which Carried as of Close of Period, Total	7,763
Accumulated Depreciation	$ (185)
Life on Which Building Depreciation in Income Statement is Computed	38 years
Indiana American III
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	741
Initial Cost to Company, Buildings and Improvements	1,846
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	185
Gross Amount at Which Carried as of Close of Period, Land	741
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	2,031
Gross Amount at Which Carried as of Close of Period, Total	2,772
Accumulated Depreciation	$ (93)
Life on Which Building Depreciation in Income Statement is Computed	31 years
Indiana American IV
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	771
Initial Cost to Company, Buildings and Improvements	1,928
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	3
Gross Amount at Which Carried as of Close of Period, Land	771
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	1,931
Gross Amount at Which Carried as of Close of Period, Total	2,702
Accumulated Depreciation	$ (63)
Life on Which Building Depreciation in Income Statement is Computed	31 years
Southpointe
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	563
Initial Cost to Company, Buildings and Improvements	1,741
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	1
Gross Amount at Which Carried as of Close of Period, Land	563
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	1,742
Gross Amount at Which Carried as of Close of Period, Total	2,305
Accumulated Depreciation	$ (77)
Life on Which Building Depreciation in Income Statement is Computed	27 years
Minnesota Eye MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	1,143
Initial Cost to Company, Buildings and Improvements	7,470
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	1,143
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	7,470
Gross Amount at Which Carried as of Close of Period, Total	8,613
Accumulated Depreciation	$ (174)
Life on Which Building Depreciation in Income Statement is Computed	44 years
Baylor Cancer Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	855
Initial Cost to Company, Buildings and Improvements	6,007
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	855
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	6,007
Gross Amount at Which Carried as of Close of Period, Total	6,862
Accumulated Depreciation	$ (125)
Life on Which Building Depreciation in Income Statement is Computed	43 years
Bridgeport Medical Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	1,397
Initial Cost to Company, Buildings and Improvements	10,435
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	1,397
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	10,435
Gross Amount at Which Carried as of Close of Period, Total	11,832
Accumulated Depreciation	$ (264)
Life on Which Building Depreciation in Income Statement is Computed	35 years
Renaissance Office Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	1,379
Initial Cost to Company, Buildings and Improvements	4,182
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	1,178
Gross Amount at Which Carried as of Close of Period, Land	1,379
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	5,360
Gross Amount at Which Carried as of Close of Period, Total	6,739
Accumulated Depreciation	$ (240)
Life on Which Building Depreciation in Income Statement is Computed	15 years
Calkins 125
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	534
Initial Cost to Company, Buildings and Improvements	10,164
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	534
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	10,164
Gross Amount at Which Carried as of Close of Period, Total	10,698
Accumulated Depreciation	$ (315)
Life on Which Building Depreciation in Income Statement is Computed	32 years
Calkins 200
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	210
Initial Cost to Company, Buildings and Improvements	3,317
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	210
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	3,317
Gross Amount at Which Carried as of Close of Period, Total	3,527
Accumulated Depreciation	$ (88)
Life on Which Building Depreciation in Income Statement is Computed	38 years
Calkins 300
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	372
Initial Cost to Company, Buildings and Improvements	6,645
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	372
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	6,645
Gross Amount at Which Carried as of Close of Period, Total	7,017
Accumulated Depreciation	$ (178)
Life on Which Building Depreciation in Income Statement is Computed	39 years
Calkins 400
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	353
Initial Cost to Company, Buildings and Improvements	8,226
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	353
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	8,226
Gross Amount at Which Carried as of Close of Period, Total	8,579
Accumulated Depreciation	$ (235)
Life on Which Building Depreciation in Income Statement is Computed	39 years
Calkins 500
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	282
Initial Cost to Company, Buildings and Improvements	7,074
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	5
Gross Amount at Which Carried as of Close of Period, Land	282
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	7,079
Gross Amount at Which Carried as of Close of Period, Total	7,361
Accumulated Depreciation	$ (160)
Life on Which Building Depreciation in Income Statement is Computed	41 years
Avalon Park Florida Hospital MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	1,041
Initial Cost to Company, Buildings and Improvements	10,685
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	1,041
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	10,685
Gross Amount at Which Carried as of Close of Period, Total	11,726
Accumulated Depreciation	$ (213)
Life on Which Building Depreciation in Income Statement is Computed	41 years
Premier Surgery Center of Louisville
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	1,106
Initial Cost to Company, Buildings and Improvements	5,437
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	1,106
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	5,437
Gross Amount at Which Carried as of Close of Period, Total	6,543
Accumulated Depreciation	$ (102)
Life on Which Building Depreciation in Income Statement is Computed	43 years
Baton Rouge MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	711
Initial Cost to Company, Buildings and Improvements	7,720
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	711
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	7,720
Gross Amount at Which Carried as of Close of Period, Total	8,431
Accumulated Depreciation	$ (173)
Life on Which Building Depreciation in Income Statement is Computed	35 years
Healthpark Medical Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	0
Initial Cost to Company, Buildings and Improvements	17,624
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	0
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	17,624
Gross Amount at Which Carried as of Close of Period, Total	17,624
Accumulated Depreciation	$ (358)
Life on Which Building Depreciation in Income Statement is Computed	36 years
Plaza HCA MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 11,837
Initial Cost to Company, Land	1,112
Initial Cost to Company, Buildings and Improvements	12,553
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	1,112
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	12,553
Gross Amount at Which Carried as of Close of Period, Total	13,665
Accumulated Depreciation	$ (226)
Life on Which Building Depreciation in Income Statement is Computed	39 years
Northern Ohio Medical Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	644
Initial Cost to Company, Buildings and Improvements	9,162
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	644
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	9,162
Gross Amount at Which Carried as of Close of Period, Total	9,806
Accumulated Depreciation	$ (277)
Life on Which Building Depreciation in Income Statement is Computed	20 years
University of Michigan - Northville MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	2,200
Initial Cost to Company, Buildings and Improvements	8,627
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	31
Gross Amount at Which Carried as of Close of Period, Land	2,200
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	8,658
Gross Amount at Which Carried as of Close of Period, Total	10,858
Accumulated Depreciation	$ (180)
Life on Which Building Depreciation in Income Statement is Computed	30 years
Coon Rapids Medical Center MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	607
Initial Cost to Company, Buildings and Improvements	5,857
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	607
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	5,857
Gross Amount at Which Carried as of Close of Period, Total	6,464
Accumulated Depreciation	$ (106)
Life on Which Building Depreciation in Income Statement is Computed	35 years
Premier Landmark MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	872
Initial Cost to Company, Buildings and Improvements	10,537
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	872
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	10,537
Gross Amount at Which Carried as of Close of Period, Total	11,409
Accumulated Depreciation	$ (165)
Life on Which Building Depreciation in Income Statement is Computed	39 years
Palm Beach ASC
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	2,576
Initial Cost to Company, Buildings and Improvements	7,675
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	2,576
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	7,675
Gross Amount at Which Carried as of Close of Period, Total	10,251
Accumulated Depreciation	$ (101)
Life on Which Building Depreciation in Income Statement is Computed	40 years
Brookstone Physician Center MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	0
Initial Cost to Company, Buildings and Improvements	1,913
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	0
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	1,913
Gross Amount at Which Carried as of Close of Period, Total	1,913
Accumulated Depreciation	$ (33)
Life on Which Building Depreciation in Income Statement is Computed	31 years
Jackson Woman's Clinic MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	555
Initial Cost to Company, Buildings and Improvements	3,800
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	555
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	3,800
Gross Amount at Which Carried as of Close of Period, Total	4,355
Accumulated Depreciation	$ (58)
Life on Which Building Depreciation in Income Statement is Computed	35 years
Hillside Medical Center MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	812
Initial Cost to Company, Buildings and Improvements	13,217
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	812
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	13,217
Gross Amount at Which Carried as of Close of Period, Total	14,029
Accumulated Depreciation	$ (138)
Life on Which Building Depreciation in Income Statement is Computed	35 years
Randall Road MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	0
Initial Cost to Company, Buildings and Improvements	15,404
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	0
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	15,404
Gross Amount at Which Carried as of Close of Period, Total	15,404
Accumulated Depreciation	$ (191)
Life on Which Building Depreciation in Income Statement is Computed	38 years
Medical Specialists of Palm Beach MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	0
Initial Cost to Company, Buildings and Improvements	7,560
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	0
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	7,560
Gross Amount at Which Carried as of Close of Period, Total	7,560
Accumulated Depreciation	$ (91)
Life on Which Building Depreciation in Income Statement is Computed	37 years
OhioHealth - SW Health Center MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	1,363
Initial Cost to Company, Buildings and Improvements	8,516
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	1,363
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	8,516
Gross Amount at Which Carried as of Close of Period, Total	9,879
Accumulated Depreciation	$ (110)
Life on Which Building Depreciation in Income Statement is Computed	37 years
Trios Health MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	0
Initial Cost to Company, Buildings and Improvements	55,178
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	0
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	55,178
Gross Amount at Which Carried as of Close of Period, Total	55,178
Accumulated Depreciation	$ (525)
Life on Which Building Depreciation in Income Statement is Computed	45 years
IMS - Paradise Valley MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	0
Initial Cost to Company, Buildings and Improvements	25,893
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	0
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	25,893
Gross Amount at Which Carried as of Close of Period, Total	25,893
Accumulated Depreciation	$ (282)
Life on Which Building Depreciation in Income Statement is Computed	43 years
IMS - Avondale MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	1,818
Initial Cost to Company, Buildings and Improvements	18,108
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	1,818
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	18,108
Gross Amount at Which Carried as of Close of Period, Total	19,926
Accumulated Depreciation	$ (145)
Life on Which Building Depreciation in Income Statement is Computed	45 years
IMS - Palm Valley MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	2,666
Initial Cost to Company, Buildings and Improvements	28,655
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	2,666
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	28,655
Gross Amount at Which Carried as of Close of Period, Total	31,321
Accumulated Depreciation	$ (240)
Life on Which Building Depreciation in Income Statement is Computed	43 years
IMS - North Mountain MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	0
Initial Cost to Company, Buildings and Improvements	42,877
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	0
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	42,877
Gross Amount at Which Carried as of Close of Period, Total	42,877
Accumulated Depreciation	$ (335)
Life on Which Building Depreciation in Income Statement is Computed	47 years
Memorial Hermann - Phase I
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	822
Initial Cost to Company, Buildings and Improvements	6,797
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	822
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	6,797
Gross Amount at Which Carried as of Close of Period, Total	7,619
Accumulated Depreciation	$ (62)
Life on Which Building Depreciation in Income Statement is Computed	39 years
Memorial Hermann - Phase II
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	1,560
Initial Cost to Company, Buildings and Improvements	25,601
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	1,560
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	25,601
Gross Amount at Which Carried as of Close of Period, Total	27,161
Accumulated Depreciation	$ (224)
Life on Which Building Depreciation in Income Statement is Computed	40 years
New Albany Medical Center MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	1,600
Initial Cost to Company, Buildings and Improvements	8,505
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	1,600
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	8,505
Gross Amount at Which Carried as of Close of Period, Total	10,105
Accumulated Depreciation	$ (87)
Life on Which Building Depreciation in Income Statement is Computed	37 years
Fountain Hills Medical Campus MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	2,593
Initial Cost to Company, Buildings and Improvements	7,635
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	2,593
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	7,635
Gross Amount at Which Carried as of Close of Period, Total	10,228
Accumulated Depreciation	$ (55)
Life on Which Building Depreciation in Income Statement is Computed	39 years
Fairhope MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	640
Initial Cost to Company, Buildings and Improvements	5,227
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	640
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	5,227
Gross Amount at Which Carried as of Close of Period, Total	5,867
Accumulated Depreciation	$ (39)
Life on Which Building Depreciation in Income Statement is Computed	38 years
Foley MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	365
Initial Cost to Company, Buildings and Improvements	732
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	365
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	732
Gross Amount at Which Carried as of Close of Period, Total	1,097
Accumulated Depreciation	$ (5)
Life on Which Building Depreciation in Income Statement is Computed	40 years
Foley Venture
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	420
Initial Cost to Company, Buildings and Improvements	1,118
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	420
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	1,118
Gross Amount at Which Carried as of Close of Period, Total	1,538
Accumulated Depreciation	$ (8)
Life on Which Building Depreciation in Income Statement is Computed	38 years
North Okaloosa MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	190
Initial Cost to Company, Buildings and Improvements	1,010
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	190
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	1,010
Gross Amount at Which Carried as of Close of Period, Total	1,200
Accumulated Depreciation	$ (7)
Life on Which Building Depreciation in Income Statement is Computed	41 years
Commons on North Davis
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	380
Initial Cost to Company, Buildings and Improvements	1,237
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	380
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	1,237
Gross Amount at Which Carried as of Close of Period, Total	1,617
Accumulated Depreciation	$ (8)
Life on Which Building Depreciation in Income Statement is Computed	41 years
Sorrento Road
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	170
Initial Cost to Company, Buildings and Improvements	894
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	170
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	894
Gross Amount at Which Carried as of Close of Period, Total	1,064
Accumulated Depreciation	$ (6)
Life on Which Building Depreciation in Income Statement is Computed	41 years
Breakfast Point Medical Park
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	0
Initial Cost to Company, Buildings and Improvements	817
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	0
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	817
Gross Amount at Which Carried as of Close of Period, Total	817
Accumulated Depreciation	$ (5)
Life on Which Building Depreciation in Income Statement is Computed	42 years
Panama City Beach
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	0
Initial Cost to Company, Buildings and Improvements	739
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	0
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	739
Gross Amount at Which Carried as of Close of Period, Total	739
Accumulated Depreciation	$ (5)
Life on Which Building Depreciation in Income Statement is Computed	42 years
Perdido Medical Park
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	100
Initial Cost to Company, Buildings and Improvements	1,147
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	100
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	1,147
Gross Amount at Which Carried as of Close of Period, Total	1,247
Accumulated Depreciation	$ (8)
Life on Which Building Depreciation in Income Statement is Computed	41 years
Ft. Walton Beach
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	230
Initial Cost to Company, Buildings and Improvements	914
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	230
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	914
Gross Amount at Which Carried as of Close of Period, Total	1,144
Accumulated Depreciation	$ (7)
Life on Which Building Depreciation in Income Statement is Computed	35 years
Panama City
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	0
Initial Cost to Company, Buildings and Improvements	661
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	0
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	661
Gross Amount at Which Carried as of Close of Period, Total	661
Accumulated Depreciation	$ (5)
Life on Which Building Depreciation in Income Statement is Computed	38 years
Pensacola - Catalyst
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	220
Initial Cost to Company, Buildings and Improvements	1,685
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	220
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	1,685
Gross Amount at Which Carried as of Close of Period, Total	1,905
Accumulated Depreciation	$ (12)
Life on Which Building Depreciation in Income Statement is Computed	39 years
Arete Surgical Center
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	399
Initial Cost to Company, Buildings and Improvements	6,667
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	399
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	6,667
Gross Amount at Which Carried as of Close of Period, Total	7,066
Accumulated Depreciation	$ (26)
Life on Which Building Depreciation in Income Statement is Computed	45 years
Cambridge Professional Center MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	590
Initial Cost to Company, Buildings and Improvements	8,520
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	590
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	8,520
Gross Amount at Which Carried as of Close of Period, Total	9,110
Accumulated Depreciation	$ (45)
Life on Which Building Depreciation in Income Statement is Computed	35 years
HonorHealth 44th Street MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	515
Initial Cost to Company, Buildings and Improvements	3,884
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	515
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	3,884
Gross Amount at Which Carried as of Close of Period, Total	4,399
Accumulated Depreciation	$ (24)
Life on Which Building Depreciation in Income Statement is Computed	28 years
Mercy Medical Center MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	1,201
Initial Cost to Company, Buildings and Improvements	6,778
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	1,201
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	6,778
Gross Amount at Which Carried as of Close of Period, Total	7,979
Accumulated Depreciation	$ (15)
Life on Which Building Depreciation in Income Statement is Computed	40 years
Nashville MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	1,555
Initial Cost to Company, Buildings and Improvements	39,713
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	1,555
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	39,713
Gross Amount at Which Carried as of Close of Period, Total	41,268
Accumulated Depreciation	$ 0
Life on Which Building Depreciation in Income Statement is Computed	45 years
KSF Orthopaedic MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	530
Initial Cost to Company, Buildings and Improvements	3,712
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	530
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	3,712
Gross Amount at Which Carried as of Close of Period, Total	4,242
Accumulated Depreciation	$ 0
Life on Which Building Depreciation in Income Statement is Computed	19 years
Great Falls Clinic MOB
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company, Land	0
Initial Cost to Company, Buildings and Improvements	27,402
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions	0
Gross Amount at Which Carried as of Close of Period, Land	0
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements	27,402
Gross Amount at Which Carried as of Close of Period, Total	27,402
Accumulated Depreciation	$ 0
Life on Which Building Depreciation in Income Statement is Computed	40 years

SCHEDULE III - REAL ESTATE AN65

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
SEC Schedule III, Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance as of the beginning of the year	$ 729,034	$ 224,730	$ 111,149
Acquisitions	695,693	505,379	113,225
Additions	4,440	900	806
Impairment	0	(1,750)	0
Dispositions	(4,273)	(225)	(450)
Balance as of the end of the year	1,424,894	729,034	224,730
SEC Schedule III, Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance as of the beginning of the year	32,772	20,299	16,495
Acquisitions	9,512	6,575	694
Additions	20,446	5,898	3,110
Dispositions	(1,488)	0	0
Balance as of the end of the year	$ 61,242	$ 32,772	$ 20,299