Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Feb. 17, 2017 | Jun. 30, 2016 | |
Entity Information [Line Items] | |||
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, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Common Stock, Shares Outstanding | 135,999,067 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 2,777,149,577 | ||
Physicians Realty L P | |||
Entity Information [Line Items] | |||
Entity Registrant Name | Physicians Realty L.P. | ||
Entity Central Index Key | 1,583,994 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | No | ||
Entity Public Float | $ 0 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Investment properties: | |||||||||
Land and improvements | $ 189,759 | $ 130,788 | |||||||
Building and improvements | 2,402,643 | 1,284,863 | |||||||
Tenant improvements | 14,133 | 9,243 | |||||||
Acquired lease intangibles | 301,462 | 205,168 | |||||||
Gross real estate property | 2,907,997 | 1,630,062 | |||||||
Accumulated depreciation | (181,785) | (91,250) | |||||||
Net real estate property | 2,726,212 | 1,538,812 | |||||||
Real estate loans receivable | 39,154 | 39,349 | |||||||
Investment in unconsolidated entity | 2,258 | 1,322 | |||||||
Net real estate investments | 2,767,624 | 1,579,483 | |||||||
Cash and cash equivalents | 15,491 | 3,143 | $ 15,923 | ||||||
Tenant receivables, net | 9,790 | 2,977 | |||||||
Other assets | 95,187 | 53,283 | |||||||
Total assets | 2,888,092 | 1,638,886 | |||||||
Liabilities: | |||||||||
Credit facility | 643,742 | 389,375 | |||||||
Notes payable | 224,330 | 0 | |||||||
Mortgage debt | 123,083 | 94,240 | |||||||
Accounts payable | 4,423 | 644 | |||||||
Dividends and distributions payable | 32,179 | 20,783 | |||||||
Accrued expenses and other liabilities | 42,287 | 24,473 | |||||||
Acquired lease intangibles, net | 9,253 | 5,950 | |||||||
Total liabilities | 1,079,297 | 535,465 | |||||||
Redeemable noncontrolling interest – Series A Preferred Units and partially owned properties | 26,477 | 26,960 | |||||||
Equity: | |||||||||
Common shares, $0.01 par value, 500,000,000 common shares authorized, 135,966,013 and 86,864,063 common shares issued and outstanding as of December 31, 2016 and December 31, 2015, respectively | 1,362 | 872 | |||||||
Additional paid-in capital | 1,920,642 | 1,129,284 | |||||||
Accumulated deficit | (197,261) | (109,024) | |||||||
Noncontrolling interests: | |||||||||
Operating Partnership | 43,142 | 45,451 | |||||||
Partially owned properties | 725 | 9,878 | |||||||
Total noncontrolling interests | 43,867 | 55,329 | |||||||
Total equity | 1,782,318 | 1,076,461 | 569,209 | ||||||
Capital: | |||||||||
Accumulated other comprehensive income | 13,708 | 0 | |||||||
Total liabilities and equity | 2,888,092 | 1,638,886 | |||||||
Stockholders' Equity Attributable to Parent | 1,738,451 | 1,021,132 | |||||||
Operating Partnership | |||||||||
Investment properties: | |||||||||
Land and improvements | 189,759 | $ 172,685 | $ 160,718 | $ 141,152 | 130,788 | $ 123,240 | $ 110,349 | $ 99,950 | 79,334 |
Building and improvements | 2,402,643 | 2,220,448 | 2,080,192 | 1,452,885 | 1,284,863 | 1,167,768 | 931,467 | 817,673 | 644,086 |
Tenant improvements | 14,133 | 12,627 | 11,519 | 10,455 | 9,243 | 8,524 | 6,810 | 6,417 | 5,614 |
Acquired lease intangibles | 301,462 | 282,798 | 263,919 | 228,788 | 205,168 | 176,087 | 132,255 | 109,173 | 72,985 |
Gross real estate property | 2,907,997 | 2,688,558 | 2,516,348 | 1,833,280 | 1,630,062 | 1,475,619 | 1,180,881 | 1,033,213 | 802,019 |
Accumulated depreciation | (181,785) | (153,815) | (129,136) | (108,239) | (91,250) | (75,930) | (64,353) | (53,451) | (45,569) |
Net real estate property | 2,726,212 | 2,534,743 | 2,387,212 | 1,725,041 | 1,538,812 | 1,399,689 | 1,116,528 | 979,762 | 756,450 |
Real estate loans receivable | 39,154 | 43,817 | 38,774 | 35,937 | 39,349 | 28,979 | 25,320 | 16,094 | 15,876 |
Investment in unconsolidated entity | 2,258 | 1,326 | 1,354 | 1,327 | 1,322 | 1,323 | 1,324 | 1,324 | 1,324 |
Net real estate investments | 2,767,624 | 2,579,886 | 2,427,340 | 1,762,305 | 1,579,483 | 1,429,991 | 1,143,172 | 997,180 | 773,650 |
Cash and cash equivalents | 15,491 | 8,396 | 37,945 | 22,906 | 3,143 | 4,718 | 22,549 | 35,774 | 15,923 |
Tenant receivables, net | 9,790 | 9,551 | 3,427 | 6,024 | 2,977 | 3,047 | 2,333 | 2,127 | 1,324 |
Other assets | 95,187 | 72,814 | 64,200 | 59,657 | 53,283 | 34,741 | 31,598 | 27,142 | 16,423 |
Total assets | 2,888,092 | 2,670,647 | 2,532,912 | 1,850,892 | 1,638,886 | 1,472,497 | 1,199,652 | 1,062,223 | 807,320 |
Liabilities: | |||||||||
Credit facility | 643,742 | 448,321 | 369,685 | 115,789 | 389,375 | 467,072 | 187,638 | 69,384 | 134,144 |
Notes payable | 224,330 | 224,339 | 149,561 | 149,551 | 0 | ||||
Mortgage debt | 123,083 | 113,736 | 114,296 | 114,816 | 94,240 | 94,795 | 95,332 | 83,584 | 77,708 |
Accounts payable | 4,423 | 2,222 | 1,723 | 1,659 | 644 | 1,393 | 1,097 | 448 | 700 |
Dividends and distributions payable | 32,179 | 31,755 | 31,771 | 25,701 | 20,783 | 17,059 | 16,942 | 16,722 | 16,548 |
Accrued expenses and other liabilities | 42,287 | 46,574 | 38,593 | 28,948 | 24,473 | 19,038 | 14,997 | 13,029 | 6,140 |
Acquired lease intangibles, net | 9,253 | 9,399 | 9,348 | 6,407 | 5,950 | 5,053 | 3,171 | 3,056 | 2,871 |
Total liabilities | 1,079,297 | 876,346 | 714,977 | 442,871 | 535,465 | 604,410 | 319,177 | 186,223 | 238,111 |
Redeemable noncontrolling interest – Series A Preferred Units and partially owned properties | 26,477 | 25,891 | 19,867 | 27,065 | 26,960 | 11,719 | 11,656 | 13,721 | 0 |
Capital: | |||||||||
General partner’s capital, 134,620,300 and 86,864,063 units issued and outstanding as of September 31, 2016 and December 31, 2015, respectively | 1,724,743 | 1,720,867 | 1,738,121 | 1,323,251 | 1,021,132 | 811,282 | 823,032 | 818,634 | 534,730 |
Limited partners’ capital, 3,618,988 and 3,879,115 units issued and outstanding as of September 31, 2016 and December 31, 2015, respectively | 43,142 | 46,138 | 50,155 | 47,567 | 45,451 | 43,737 | 44,473 | 42,430 | 33,727 |
Accumulated other comprehensive income | 13,708 | 652 | 0 | ||||||
Total partners’ capital | 1,781,593 | 1,767,657 | 1,788,276 | 1,370,818 | 1,066,583 | 855,019 | 867,505 | 861,064 | 568,457 |
Noncontrolling interests - partially owned properties | 725 | 9,878 | |||||||
Total capital | 1,782,318 | 1,768,410 | 1,798,068 | 1,380,956 | 1,076,461 | 856,368 | 868,819 | 862,279 | 569,209 |
Total liabilities and equity | $ 2,888,092 | 2,670,647 | 2,532,912 | 1,850,892 | 1,638,886 | 1,472,497 | 1,199,652 | 1,062,223 | 807,320 |
Partially Owned Properties | Operating Partnership | |||||||||
Capital: | |||||||||
Noncontrolling interests - partially owned properties | $ 753 | $ 9,792 | $ 10,138 | $ 9,878 | $ 1,349 | $ 1,314 | $ 1,215 | $ 752 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | |||||||||
Common stock, shares outstanding (in shares) | 135,966,013 | 86,864,063 | |||||||
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) | 135,966,013 | 86,864,063 | |||||||
Partners' Capital, Number of Units, Par Value and Other Disclosures [Abstract] | |||||||||
General Partner units issued (in units) | 135,966,013 | 134,620,300 | 134,337,589 | 108,379,324 | 86,864,063 | 71,040,502 | 70,955,331 | 69,943,001 | 50,640,863 |
General Partner units outstanding (in units) | 135,966,013 | 134,620,300 | 134,337,589 | 108,379,324 | 86,864,063 | 71,040,502 | 70,955,331 | 69,943,001 | 50,640,863 |
Limited Partner units issued (in units) | 3,436,207 | 3,618,988 | 3,894,249 | 3,905,763 | 3,879,115 | 3,842,763 | 3,848,950 | 3,640,900 | 3,190,339 |
Limited Partner units outstanding (in units) | 3,436,207 | 3,618,988 | 3,894,249 | 3,905,763 | 3,879,115 | 3,842,763 | 3,848,950 | 3,640,900 | 3,190,339 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||
Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2014 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||||
Revenues: | ||||||||||||||||||||||
Rental revenues | $ 186,301,000 | $ 103,974,000 | $ 46,397,000 | |||||||||||||||||||
Expense recoveries | 45,875,000 | 21,587,000 | 5,871,000 | |||||||||||||||||||
Interest income on real estate loans and other | 8,858,000 | 3,880,000 | 1,066,000 | |||||||||||||||||||
Total revenues | $ 70,010,000 | $ 53,216,000 | $ 44,134,000 | $ 34,870,000 | $ 29,683,000 | $ 24,484,000 | 241,034,000 | 129,441,000 | 53,334,000 | |||||||||||||
Expenses: | ||||||||||||||||||||||
Interest expense | 23,864,000 | 10,636,000 | 6,907,000 | |||||||||||||||||||
General and administrative | 18,397,000 | 14,908,000 | 11,440,000 | |||||||||||||||||||
Operating expenses | 65,999,000 | 31,026,000 | 10,154,000 | |||||||||||||||||||
Depreciation and amortization | 86,589,000 | 45,471,000 | 16,731,000 | |||||||||||||||||||
Acquisition expenses | 14,778,000 | 14,893,000 | 10,897,000 | |||||||||||||||||||
Impairment loss | 0 | 0 | 1,750,000 | |||||||||||||||||||
Total expenses | 209,627,000 | 116,934,000 | 57,879,000 | |||||||||||||||||||
Income (loss) before equity in income of unconsolidated entities and gain on sale of investment properties: | 10,267,000 | 7,158,000 | 5,392,000 | 3,812,000 | 3,271,000 | (459,000) | 31,407,000 | 12,507,000 | (4,545,000) | |||||||||||||
Equity in income of unconsolidated entities | 115,000 | 104,000 | 95,000 | |||||||||||||||||||
Gain on sale of investment properties | $ 0 | 0 | 130,000 | 32,000 | ||||||||||||||||||
Net income (loss) | 10,294,000 | 7,184,000 | 5,424,000 | 3,983,000 | 3,297,000 | (448,000) | 31,522,000 | 12,741,000 | (4,418,000) | |||||||||||||
Net (income) loss attributable to noncontrolling interests: | ||||||||||||||||||||||
Operating Partnership | (825,000) | (576,000) | 695,000 | |||||||||||||||||||
Partially owned properties (1) | [1] | (716,000) | (377,000) | (314,000) | ||||||||||||||||||
Net income (loss) attributable to controlling interest | 29,981,000 | 11,788,000 | (4,037,000) | |||||||||||||||||||
Preferred distributions | (1,857,000) | (1,189,000) | 0 | |||||||||||||||||||
Net income (loss) attributable to common shareholders | $ 9,427,000 | $ 6,486,000 | $ 4,386,000 | $ 3,404,000 | $ 2,571,000 | $ (522,000) | $ 28,124,000 | $ 10,599,000 | $ (4,037,000) | |||||||||||||
Net income (loss) per share: | ||||||||||||||||||||||
Earnings per share - basic (in dollars per share) | $ 0.07 | $ 0.05 | $ 0.04 | $ 0.05 | $ 0.04 | $ (0.01) | $ 0.22 | $ 0.15 | $ (0.12) | |||||||||||||
Earnings per share - diluted (in dollars per share) | $ 0.07 | $ 0.05 | $ 0.04 | $ 0.05 | $ 0.04 | $ (0.01) | $ 0.22 | $ 0.15 | $ (0.12) | |||||||||||||
Weighted average common shares: | ||||||||||||||||||||||
Weighted average common shares - basic (in shares) | 134,608,396 | 131,481,329 | 102,704,008 | 71,034,747 | 70,376,959 | 65,649,478 | 33,063,093 | |||||||||||||||
Weighted average common shares - diluted (in shares) | 138,880,787 | 135,944,722 | 107,148,380 | 75,104,821 | 74,267,284 | 65,649,478 | 130,466,893 | 76,792,073 | 33,063,093 | |||||||||||||
Dividends and distributions declared per common share and OP unit (in dollars per share) | $ 0.9 | $ 0.9 | $ 0.9 | |||||||||||||||||||
Earnings per unit: | ||||||||||||||||||||||
Earnings per unit - basic (in dollars per share) | 0.22 | 0.15 | (0.12) | |||||||||||||||||||
Earnings per unit - diluted (in dollars per share) | $ 0.22 | $ 0.15 | $ (0.12) | |||||||||||||||||||
Weighted average common units - basic (in shares) | 129,835,209 | 76,459,218 | 36,881,712 | |||||||||||||||||||
Weighted average common units - diluted (in shares) | 130,466,893 | 76,792,073 | 36,881,712 | |||||||||||||||||||
Net income (loss) attributable to redeemable noncontrolling interest | $ 100,000 | |||||||||||||||||||||
Operating Partnership | ||||||||||||||||||||||
Revenues: | ||||||||||||||||||||||
Rental revenues | $ 53,327,000 | $ 42,196,000 | $ 34,855,000 | $ 28,145,000 | $ 23,625,000 | $ 20,341,000 | $ 12,506,000 | $ 10,241,000 | 6,808,000 | $ 77,051,000 | $ 43,966,000 | $ 17,049,000 | $ 130,378,000 | $ 72,111,000 | $ 29,555,000 | 186,301,000 | $ 103,974,000 | $ 46,397,000 | ||||
Expense recoveries | 14,361,000 | 9,552,000 | 7,903,000 | 5,821,000 | 4,908,000 | 3,536,000 | 1,355,000 | 1,020,000 | 1,070,000 | 17,455,000 | 8,444,000 | 2,090,000 | 31,816,000 | 14,265,000 | 3,445,000 | 45,875,000 | 21,587,000 | 5,871,000 | ||||
Interest income on real estate loans and other | 2,322,000 | 1,468,000 | 1,376,000 | 904,000 | 1,150,000 | 607,000 | 300,000 | 186,000 | 154,000 | 2,844,000 | 1,757,000 | 340,000 | 5,166,000 | 2,661,000 | 640,000 | 8,858,000 | 3,880,000 | 1,066,000 | ||||
Total revenues | 70,010,000 | 53,216,000 | 44,134,000 | 34,870,000 | 29,683,000 | 24,484,000 | 14,161,000 | 11,447,000 | 8,032,000 | 97,350,000 | 54,167,000 | 19,479,000 | 167,360,000 | 89,037,000 | 33,640,000 | 241,034,000 | 129,441,000 | 53,334,000 | ||||
Expenses: | ||||||||||||||||||||||
Interest expense | 7,300,000 | 4,279,000 | 4,197,000 | 3,341,000 | 2,193,000 | 1,710,000 | 1,911,000 | 1,657,000 | 1,281,000 | 8,476,000 | 3,903,000 | 2,938,000 | 15,776,000 | 7,244,000 | 4,849,000 | 23,864,000 | 10,636,000 | 6,907,000 | ||||
General and administrative | 4,917,000 | 4,926,000 | 4,121,000 | 4,018,000 | 3,989,000 | 3,352,000 | 4,445,000 | 2,408,000 | 2,014,000 | 9,047,000 | 7,341,000 | 4,422,000 | 13,964,000 | 11,359,000 | 8,867,000 | 18,397,000 | 14,908,000 | 11,440,000 | ||||
Operating expenses | 19,159,000 | 13,798,000 | 11,037,000 | 7,966,000 | 7,304,000 | 5,709,000 | 2,531,000 | 2,227,000 | 1,609,000 | 24,835,000 | 13,013,000 | 3,836,000 | 43,994,000 | 20,979,000 | 6,367,000 | 65,999,000 | 31,026,000 | 10,154,000 | ||||
Depreciation and amortization | 23,969,000 | 19,799,000 | 16,010,000 | 12,476,000 | 10,351,000 | 8,240,000 | 4,413,000 | 3,736,000 | 2,416,000 | 35,809,000 | 18,591,000 | 6,152,000 | 59,778,000 | 31,067,000 | 10,565,000 | 86,589,000 | 45,471,000 | 16,731,000 | ||||
Acquisition expenses | 4,398,000 | 3,256,000 | 3,377,000 | 3,257,000 | 2,575,000 | 5,932,000 | 2,922,000 | 2,045,000 | 4,287,000 | 6,633,000 | 8,507,000 | 6,332,000 | 11,031,000 | 11,764,000 | 9,254,000 | 14,778,000 | 14,893,000 | 10,897,000 | ||||
Impairment loss | 0 | 250,000 | 0 | 250,000 | 0 | 0 | 1,750,000 | |||||||||||||||
Total expenses | 59,743,000 | 46,058,000 | 38,742,000 | 31,058,000 | 26,412,000 | 24,943,000 | 16,472,000 | 12,073,000 | 11,607,000 | 84,800,000 | 51,355,000 | 23,680,000 | 144,543,000 | 82,413,000 | 40,152,000 | 209,627,000 | 116,934,000 | 57,879,000 | ||||
Income (loss) before equity in income of unconsolidated entities and gain on sale of investment properties: | 10,267,000 | 7,158,000 | 5,392,000 | 3,812,000 | 3,271,000 | (459,000) | (2,311,000) | (626,000) | (3,575,000) | 12,550,000 | 2,812,000 | (4,201,000) | 22,817,000 | 6,624,000 | (6,512,000) | 31,407,000 | 12,507,000 | (4,545,000) | ||||
Equity in income of unconsolidated entities | 27,000 | 26,000 | 32,000 | 26,000 | 26,000 | 26,000 | 26,000 | 26,000 | 17,000 | 58,000 | 52,000 | 43,000 | 85,000 | 78,000 | 69,000 | 115,000 | 104,000 | 95,000 | ||||
Gain on sale of investment properties | 0 | 0 | 0 | 145,000 | 0 | (15,000) | 34,000 | 0 | 0 | 0 | (15,000) | 0 | 0 | 130,000 | 34,000 | 0 | 130,000 | 32,000 | ||||
Net income (loss) | 10,294,000 | 7,184,000 | 5,424,000 | 3,983,000 | 3,297,000 | (448,000) | (2,251,000) | (600,000) | (3,558,000) | 12,608,000 | 2,849,000 | (4,158,000) | 22,902,000 | 6,832,000 | (6,409,000) | 31,522,000 | 12,741,000 | (4,418,000) | ||||
Net (income) loss attributable to noncontrolling interests: | ||||||||||||||||||||||
Partially owned properties (1) | (176,000) | (60,000) | (317,000) | (79,000) | (144,000) | (32,000) | (76,000) | (84,000) | (66,000) | (377,000) | (176,000) | (150,000) | (553,000) | (255,000) | (226,000) | (716,000) | [1] | (377,000) | [1] | (314,000) | [1] | |
Net income (loss) attributable to controlling interest | 10,118,000 | 7,124,000 | 5,107,000 | 3,904,000 | 3,153,000 | (480,000) | (2,327,000) | (684,000) | (3,624,000) | 12,231,000 | 2,673,000 | (4,308,000) | 22,349,000 | 6,577,000 | (6,635,000) | 30,806,000 | 12,364,000 | (4,732,000) | ||||
Preferred distributions | (436,000) | (437,000) | (548,000) | (300,000) | (425,000) | (66,000) | 0 | 0 | 0 | (985,000) | (491,000) | 0 | (1,421,000) | (791,000) | 0 | (1,857,000) | (1,189,000) | 0 | ||||
Net loss attributable to common unitholders | (546,000) | $ (3,624,000) | ||||||||||||||||||||
Net income (loss) attributable to common shareholders | $ 9,682,000 | $ 6,687,000 | $ 4,559,000 | $ 3,604,000 | $ 2,728,000 | $ (546,000) | $ (2,327,000) | $ (684,000) | $ 11,246,000 | $ 2,182,000 | $ (4,308,000) | $ 20,928,000 | $ 5,786,000 | $ (6,635,000) | $ 28,949,000 | $ 11,175,000 | $ (4,732,000) | |||||
Net income (loss) per share: | ||||||||||||||||||||||
Earnings per share - basic (in dollars per share) | $ 0.22 | $ 0.15 | $ (0.12) | |||||||||||||||||||
Earnings per share - diluted (in dollars per share) | $ 0.22 | $ 0.15 | $ (0.12) | |||||||||||||||||||
Weighted average common shares: | ||||||||||||||||||||||
Weighted average common shares - basic (in shares) | 126,143,114 | 72,750,724 | 33,063,093 | |||||||||||||||||||
Weighted average common shares - diluted (in shares) | 130,466,893 | 76,792,073 | 33,063,093 | |||||||||||||||||||
Earnings per unit: | ||||||||||||||||||||||
Earnings per unit - basic (in dollars per share) | $ 0.07 | $ 0.05 | $ 0.04 | $ 0.05 | $ 0.04 | $ (0.01) | $ (0.06) | $ (0.02) | $ 0.09 | $ 0.03 | $ (0.15) | $ 0.17 | $ 0.08 | $ (0.21) | $ 0.22 | $ 0.15 | $ (0.12) | |||||
Earnings per unit - diluted (in dollars per share) | $ 0.07 | $ 0.05 | $ 0.04 | $ 0.05 | $ 0.04 | $ (0.01) | $ (0.06) | $ (0.02) | $ 0.09 | $ 0.03 | $ (0.15) | $ 0.16 | $ 0.08 | $ (0.21) | $ 0.22 | $ 0.15 | $ (0.12) | |||||
Weighted average common units - basic (in shares) | 138,227,384 | 135,351,672 | 106,550,467 | 74,864,677 | 74,075,323 | 69,146,712 | 40,898,015 | 29,962,046 | 120,951,069 | 71,624,633 | 27,493,474 | 126,751,876 | 72,716,516 | 32,010,755 | 129,835,209 | 76,459,218 | 36,881,712 | |||||
Weighted average common units - diluted (in shares) | 138,880,787 | 135,944,722 | 107,148,380 | 75,104,821 | 74,267,284 | 69,146,712 | 40,898,015 | 29,962,046 | 121,575,247 | 71,862,249 | 27,493,474 | 127,395,989 | 73,040,846 | 32,010,755 | 130,466,893 | 76,792,073 | 36,881,712 | |||||
Distributions declared per common OP Unit (in dollars per share) | $ 0.225 | $ 0.225 | $ 0.225 | $ 0.225 | $ 0.225 | $ 0.225 | $ 0.225 | $ 0.225 | $ 0.225 | $ 0.45 | $ 0.45 | $ 0.45 | $ 0.675 | $ 0.675 | $ 0.675 | $ 0.9 | $ 0.9 | $ 0.9 | ||||
Net loss per unit (in dollars per share) | $ (0.01) | $ (0.15) | ||||||||||||||||||||
Weighted average common units (in shares) | 69,146,712 | 24,997,474 | ||||||||||||||||||||
Net income (loss) attributable to redeemable noncontrolling interest | $ 100,000 | |||||||||||||||||||||
[1] | Includes $0.1 million of net income attributable to redeemable noncontrolling interests for the year ended December 31, 2016. No such adjustments are required for the years ended December 31, 2015 and 2014. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income Statement - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Net income (loss) | $ 10,294 | $ 3,983 | $ 31,522 | $ 12,741 | $ (4,418) | ||
Other comprehensive income: | |||||||
Change in fair value of interest rate swap agreements | 13,708 | 0 | 0 | ||||
Total other comprehensive income | 13,708 | 0 | 0 | ||||
Comprehensive income (loss) | 45,230 | 12,741 | (4,418) | ||||
Comprehensive (income) loss attributable to noncontrolling interests - Operating Partnership | (1,162) | (576) | 695 | ||||
Comprehensive (income) loss attributable to noncontrolling interests - Partially owned properties | (716) | (377) | (314) | ||||
Comprehensive income (loss) attributable to common shareholders/unitholders | 43,352 | 11,788 | (4,037) | ||||
Operating Partnership | |||||||
Net income (loss) | 10,294 | 3,983 | $ 22,902 | $ 6,832 | 31,522 | 12,741 | (4,418) |
Other comprehensive income: | |||||||
Change in fair value of interest rate swap agreements | 652 | 0 | 652 | 0 | 13,708 | 0 | 0 |
Total other comprehensive income | 652 | 0 | 652 | 0 | 13,708 | 0 | 0 |
Comprehensive income (loss) | 10,946 | 3,983 | 23,554 | 6,832 | 45,230 | 12,741 | (4,418) |
Comprehensive (income) loss attributable to noncontrolling interests - Partially owned properties | (716) | (377) | (314) | ||||
Comprehensive income attributable to noncontrolling interests | (17) | 0 | (17) | 0 | |||
Comprehensive income (loss) attributable to common shareholders/unitholders | $ 10,929 | $ 3,983 | $ 23,537 | $ 6,832 | $ 44,514 | $ 12,364 | $ (4,732) |
Consolidated and Combined State
Consolidated and Combined Statement of Equity - USD ($) $ in Thousands | Total | Total Shareholders’ Equity | Par Value | Additional Paid in Capital | Accumulated Deficit | Accumulated Other Comprehensive Income (Loss) | Total Noncontrolling Interests | Operating Partnership Noncontrolling interest | Partially Owned Properties Noncontrolling Interest |
Shareholders' equity, beginning balance at Dec. 31, 2013 | $ 240,837 | $ 204,904 | $ 215 | $ 213,359 | $ (8,670) | $ 35,933 | $ 35,310 | $ 623 | |
Increase (Decrease) in Stockholders' Equity | |||||||||
Net proceeds from sale of common shares | 350,385 | 350,385 | 272 | 350,113 | |||||
Restricted share award grants, net | 2,060 | 2,060 | 2 | 2,100 | (42) | ||||
Issuance of common shares in connection with the Ziegler shared service amendment payment | 1,800 | 1,800 | 1 | 1,799 | |||||
Purchase of OP Units | (7,546) | (7,546) | (7,546) | ||||||
Conversion of OP Units | 13,286 | 20 | 13,266 | (13,286) | (13,286) | ||||
Dividends/distributions declared | (42,313) | (39,048) | (39,048) | (3,265) | (3,265) | ||||
Issuance of common shares and OP Units in connection with acquisitions | 28,589 | 28,589 | 28,589 | ||||||
Distributions | (185) | (185) | (185) | ||||||
Change in fair value of interest rate swap agreements | 0 | ||||||||
Adjustment for Noncontrolling Interests ownership in Operating Partnership | 5,380 | 5,380 | (5,380) | (5,380) | |||||
Shareholders' equity, ending balance at Dec. 31, 2014 | 569,209 | 534,730 | 510 | 586,017 | (51,797) | 34,479 | 33,727 | 752 | |
Increase (Decrease) in Stockholders' Equity | |||||||||
Net (loss) income | (4,418) | (4,037) | (4,037) | (381) | (695) | 314 | |||
Net proceeds from sale of common shares | 545,117 | 545,117 | 361 | 544,756 | |||||
Restricted share award grants, net | 2,908 | 2,908 | 1 | 3,191 | (284) | ||||
Purchase of OP Units | (1,088) | (1,088) | (1,088) | ||||||
Conversion of OP Units | 0 | 171 | 171 | (171) | (171) | ||||
Dividends/distributions declared | (70,886) | (67,542) | (67,542) | (3,344) | (3,344) | ||||
Preferred distributions | (1,189) | (1,189) | (1,189) | ||||||
Issuance of common shares and OP Units in connection with acquisitions | 10,973 | 10,973 | 10,973 | ||||||
Contributions | 8,962 | 8,962 | 8,962 | ||||||
Distributions | (213) | (213) | (213) | ||||||
Change in market value of Redeemable Noncontrolling Interests in Operating Partnership | 73 | 73 | 73 | ||||||
Change in fair value of interest rate swap agreements | 0 | ||||||||
Adjustment for Noncontrolling Interests ownership in Operating Partnership | 0 | (4,778) | (4,778) | 4,778 | 4,778 | ||||
Shareholders' equity, ending balance at Dec. 31, 2015 | 1,076,461 | 1,021,132 | 872 | 1,129,284 | (109,024) | 55,329 | 45,451 | 9,878 | |
Increase (Decrease) in Stockholders' Equity | |||||||||
Net (loss) income | 12,741 | 11,788 | 11,788 | 953 | 576 | 377 | |||
Net proceeds from sale of common shares | 766,841 | 766,841 | 473 | 766,368 | |||||
Restricted share award grants, net | 4,434 | 4,434 | 1 | 4,893 | (460) | ||||
Purchase of OP Units | (3,671) | (3,671) | (3,671) | ||||||
Conversion of OP Units | 11,619 | 6 | 11,613 | (11,619) | (11,619) | ||||
Dividends/distributions declared | (119,007) | (115,901) | (115,901) | (3,106) | (3,106) | ||||
Preferred distributions | (1,857) | (1,857) | (1,857) | ||||||
Issuance of common shares and OP Units in connection with acquisitions | 23,848 | 17,079 | 10 | 17,069 | 6,769 | 6,869 | (100) | ||
Contributions | 50 | 50 | 50 | ||||||
Distributions | (543) | (543) | (543) | ||||||
Change in market value of Redeemable Noncontrolling Interests in Operating Partnership | 245 | (245) | (245) | ||||||
Reclassification of Noncontrolling Interest - partially owned properties | 8,514 | (8,514) | (8,514) | ||||||
Buyout of Noncontrolling Interests - partially owned properties | 611 | 53 | 53 | (664) | (664) | ||||
Change in fair value of interest rate swap agreements | 13,708 | 13,708 | $ 13,708 | ||||||
Adjustment for Noncontrolling Interests ownership in Operating Partnership | 0 | (8,393) | (8,393) | 8,393 | 8,393 | ||||
Shareholders' equity, ending balance at Dec. 31, 2016 | 1,782,318 | 1,738,451 | $ 1,362 | $ 1,920,642 | (197,261) | $ 13,708 | 43,867 | 43,142 | 725 |
Increase (Decrease) in Stockholders' Equity | |||||||||
Net (loss) income | $ 31,424 | $ 29,981 | $ 29,981 | $ 1,443 | $ 825 | $ 618 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Capital - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Mar. 31, 2016 | Mar. 31, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Increase (Decrease) in Partners' Capital [Roll Forward] | |||||||||
Trust Restricted share award grants, net | $ 1,109 | $ 2,228 | |||||||
Issuance of common shares in connection with the Ziegler shared service amendment payment | $ 1,800 | ||||||||
Conversion of OP Units | 0 | ||||||||
Contributions | $ 50 | $ 8,962 | |||||||
Distributions | (543) | (213) | (185) | ||||||
Reclassification of Noncontrolling Interest - partially owned properties | 8,514 | ||||||||
Buyout of Noncontrolling Interest - partially owned properties | 611 | ||||||||
Change in fair value of interest rate cap agreements | 13,708 | 0 | 0 | ||||||
Net (loss) income | 31,424 | 12,741 | (4,418) | ||||||
Accumulated Other Comprehensive Income (Loss) | |||||||||
Increase (Decrease) in Partners' Capital [Roll Forward] | |||||||||
Partners' capital, ending balance | 13,708 | ||||||||
General Partner | |||||||||
Increase (Decrease) in Partners' Capital [Roll Forward] | |||||||||
Trust Restricted share award grants, net | 1,109 | 2,228 | |||||||
Total Partners’ Capital | |||||||||
Increase (Decrease) in Partners' Capital [Roll Forward] | |||||||||
Trust Restricted share award grants, net | 1,109 | 2,228 | |||||||
Operating Partnership | |||||||||
Increase (Decrease) in Partners' Capital [Roll Forward] | |||||||||
Partners' capital, beginning balance | 1,076,461 | $ 569,209 | $ 1,076,461 | $ 569,209 | $ 1,076,461 | 569,209 | 1,076,461 | 569,209 | 240,837 |
Net proceeds from sale of Trust common shares and issuance of common units | 321,238 | 301,772 | 764,205 | 318,041 | 764,292 | 318,170 | 766,841 | 545,117 | 350,385 |
Trust Restricted share award grants, net | 846 | 2,329 | 1,879 | 3,203 | 4,434 | 2,908 | 2,060 | ||
Issuance of common shares in connection with the Ziegler shared service amendment payment | 1,800 | ||||||||
Purchase of OP Units | (205) | (2,129) | (253) | (2,999) | (253) | (3,671) | (1,088) | (7,546) | |
Conversion of OP Units | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
OP Units - distributions | (25,317) | (16,630) | (56,483) | (33,534) | (87,602) | (50,434) | (119,007) | (70,886) | (42,313) |
Preferred distributions | (548) | (66) | (985) | (491) | (1,421) | (791) | (1,857) | (1,189) | |
Issuance of OP Units in connection with acquisition | 2,869 | 7,314 | 2,869 | 10,733 | 2,869 | 10,973 | 23,848 | 10,973 | 28,589 |
Contributions | 500 | 500 | 50 | 500 | 50 | 8,962 | |||
Distributions | (57) | (69) | (363) | (114) | (450) | (158) | (543) | (213) | (185) |
Change in market value of Redeemable Limited Partners | (223) | 56 | (444) | (422) | 92 | (245) | (73) | ||
Reclassification of Noncontrolling Interest - partially owned properties | (8,514) | (8,514) | |||||||
Buyout of Noncontrolling Interest - partially owned properties | (611) | (611) | |||||||
Change in fair value of interest rate cap agreements | 652 | 13,708 | 0 | 0 | |||||
Net (loss) income | 5,424 | (448) | 12,608 | 2,849 | 22,902 | 6,832 | 31,424 | 12,741 | (4,418) |
Adjustments for Limited Partners ownership in Operating Partnership | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
Partners' capital, ending balance | 1,380,956 | 862,279 | 1,798,068 | 868,819 | 1,768,410 | 856,368 | 1,782,318 | 1,076,461 | 569,209 |
Operating Partnership | Accumulated Other Comprehensive Income (Loss) | |||||||||
Increase (Decrease) in Partners' Capital [Roll Forward] | |||||||||
Change in fair value of interest rate cap agreements | 652 | 13,708 | |||||||
Partners' capital, ending balance | 652 | ||||||||
Operating Partnership | General Partner | |||||||||
Increase (Decrease) in Partners' Capital [Roll Forward] | |||||||||
Partners' capital, beginning balance | 1,021,132 | 534,730 | 1,021,132 | 534,730 | 1,021,132 | 534,730 | 1,021,132 | 534,730 | 204,904 |
Net proceeds from sale of Trust common shares and issuance of common units | 321,238 | 301,772 | 764,205 | 318,041 | 764,292 | 318,170 | 766,841 | 545,117 | 350,385 |
Trust Restricted share award grants, net | 846 | 2,329 | 1,879 | 3,203 | 2,060 | ||||
Issuance of common shares in connection with the Ziegler shared service amendment payment | 1,800 | ||||||||
Conversion of OP Units | 1,861 | 18 | 3,293 | 18 | 8,098 | 171 | 11,619 | 171 | 13,286 |
OP Units - distributions | (24,469) | (15,821) | (54,821) | (31,870) | (85,208) | (47,920) | (115,901) | (67,542) | (39,048) |
Preferred distributions | (548) | (66) | (985) | (491) | (1,421) | (791) | (1,857) | (1,189) | |
Issuance of OP Units in connection with acquisition | (3,900) | (3,900) | 17,079 | 0 | |||||
Change in market value of Redeemable Limited Partners | (223) | 56 | (444) | (422) | 92 | (245) | (73) | ||
Buyout of Noncontrolling Interest - partially owned properties | 53 | 53 | |||||||
Net (loss) income | 4,934 | (456) | 11,857 | 2,540 | 21,720 | 6,244 | 29,981 | 11,788 | (4,037) |
Adjustments for Limited Partners ownership in Operating Partnership | (1,783) | (2,445) | (4,545) | (1,815) | (6,680) | (1,642) | (8,393) | (4,778) | 5,380 |
Partners' capital, ending balance | 1,323,251 | 818,634 | 1,738,121 | 823,032 | 1,720,867 | 811,282 | 1,724,743 | 1,021,132 | 534,730 |
Operating Partnership | Limited Partner | |||||||||
Increase (Decrease) in Partners' Capital [Roll Forward] | |||||||||
Partners' capital, beginning balance | 45,451 | 33,727 | 45,451 | 33,727 | 45,451 | 33,727 | 45,451 | 33,727 | 35,310 |
Purchase of OP Units | (205) | (2,129) | (253) | (2,999) | (253) | (3,671) | (1,088) | (7,546) | |
Conversion of OP Units | (1,861) | (18) | (3,293) | (18) | (8,098) | (171) | (11,619) | (171) | (13,286) |
OP Units - distributions | (848) | (809) | (1,662) | (1,664) | (2,394) | (2,514) | (3,106) | (3,344) | (3,265) |
Issuance of OP Units in connection with acquisition | 2,869 | 7,314 | 6,869 | 10,733 | 6,869 | 10,973 | 6,869 | 10,973 | 28,589 |
Net (loss) income | 173 | (24) | 374 | 133 | 629 | 333 | 825 | 576 | (695) |
Adjustments for Limited Partners ownership in Operating Partnership | 1,783 | 2,445 | 4,545 | 1,815 | 6,680 | 1,642 | 8,393 | 4,778 | (5,380) |
Partners' capital, ending balance | 47,567 | 42,430 | 50,155 | 44,473 | 46,138 | 43,737 | 43,142 | 45,451 | 33,727 |
Operating Partnership | Total Partners’ Capital | |||||||||
Increase (Decrease) in Partners' Capital [Roll Forward] | |||||||||
Partners' capital, beginning balance | 1,066,583 | 568,457 | 1,066,583 | 568,457 | 1,066,583 | 568,457 | 1,066,583 | 568,457 | 240,214 |
Net proceeds from sale of Trust common shares and issuance of common units | 321,238 | 301,772 | 764,205 | 318,041 | 764,292 | 318,170 | 766,841 | 545,117 | 350,385 |
Trust Restricted share award grants, net | 846 | 2,329 | 1,879 | 3,203 | 2,060 | ||||
Issuance of common shares in connection with the Ziegler shared service amendment payment | 1,800 | ||||||||
Purchase of OP Units | (205) | (2,129) | (253) | (2,999) | (253) | (3,671) | (1,088) | (7,546) | |
OP Units - distributions | (25,317) | (16,630) | (56,483) | (33,534) | (87,602) | (50,434) | (119,007) | (70,886) | (42,313) |
Preferred distributions | (548) | (66) | (985) | (491) | (1,421) | (791) | (1,857) | (1,189) | |
Issuance of OP Units in connection with acquisition | 2,869 | 7,314 | 2,969 | 10,733 | 2,969 | 10,973 | 23,948 | 10,973 | 28,589 |
Change in market value of Redeemable Limited Partners | (223) | 56 | (444) | (422) | 92 | (245) | (73) | ||
Buyout of Noncontrolling Interest - partially owned properties | 53 | 53 | |||||||
Change in fair value of interest rate cap agreements | 652 | 13,708 | |||||||
Net (loss) income | 5,107 | (480) | 12,231 | 2,673 | 22,349 | 6,577 | 30,806 | 12,364 | (4,732) |
Partners' capital, ending balance | 1,370,818 | 861,064 | 1,788,276 | 867,505 | 1,767,657 | 855,019 | 1,781,593 | 1,066,583 | 568,457 |
Partially Owned Properties Noncontrolling Interest | |||||||||
Increase (Decrease) in Partners' Capital [Roll Forward] | |||||||||
Contributions | 50 | 8,962 | |||||||
Distributions | (543) | (213) | (185) | ||||||
Reclassification of Noncontrolling Interest - partially owned properties | (8,514) | ||||||||
Buyout of Noncontrolling Interest - partially owned properties | (664) | ||||||||
Net (loss) income | 618 | 377 | 314 | ||||||
Partially Owned Properties Noncontrolling Interest | Operating Partnership | |||||||||
Increase (Decrease) in Partners' Capital [Roll Forward] | |||||||||
Partners' capital, beginning balance | 9,878 | 752 | 9,878 | 752 | 9,878 | 752 | 9,878 | 752 | 623 |
Issuance of OP Units in connection with acquisition | (100) | (100) | (100) | ||||||
Contributions | 500 | 500 | 50 | 500 | 50 | 8,962 | |||
Distributions | (57) | (69) | (363) | (114) | (450) | (158) | (543) | (213) | (185) |
Reclassification of Noncontrolling Interest - partially owned properties | (8,514) | (8,514) | |||||||
Buyout of Noncontrolling Interest - partially owned properties | (664) | (664) | |||||||
Net (loss) income | 317 | 32 | 377 | 176 | 553 | 255 | 618 | 377 | 314 |
Partners' capital, ending balance | $ 10,138 | $ 1,215 | $ 9,792 | $ 1,314 | $ 753 | $ 1,349 | $ 725 | $ 9,878 | $ 752 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2014 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Net income | $ 5,424,000 | $ (448,000) | $ 31,522,000 | $ 12,741,000 | $ (4,418,000) | |||||||
Adjustments to reconcile net income (loss) to net cash provided by operating activities | ||||||||||||
Depreciation and amortization | 86,589,000 | 45,471,000 | 16,731,000 | |||||||||
Amortization of deferred financing costs | 2,325,000 | 1,373,000 | 1,097,000 | |||||||||
Amortization of lease inducements and above/below market lease intangibles | 3,906,000 | 2,577,000 | 571,000 | |||||||||
Straight-line rental revenue/expense | (16,226,000) | (9,000,000) | (4,366,000) | |||||||||
Amortization of above market assumed debt | (236,000) | (173,000) | 0 | |||||||||
Gain on sale of investment properties | $ 0 | 0 | (130,000) | (32,000) | ||||||||
Equity in income of unconsolidated entities | (115,000) | (104,000) | (95,000) | |||||||||
Distribution from unconsolidated entities | 82,000 | 106,000 | 71,000 | |||||||||
Change in fair value of derivatives | (240,000) | (166,000) | (161,000) | |||||||||
Provision for bad debts | 2,310,000 | 69,000 | 9,000 | |||||||||
Non-cash share compensation | 4,894,000 | 3,798,000 | 2,422,000 | |||||||||
Ziegler shared service amendment payment | 0 | 0 | 1,800,000 | |||||||||
Write-off of contingent consideration | (840,000) | 0 | 0 | |||||||||
Impairment loss | 0 | 0 | 1,750,000 | |||||||||
Change in operating assets and liabilities: | ||||||||||||
Tenant receivables | (10,058,000) | (2,836,000) | (986,000) | |||||||||
Other assets | (20,387,000) | (630,000) | (3,518,000) | |||||||||
Accounts payable, trade | 3,779,000 | (56,000) | (136,000) | |||||||||
Accrued expenses and other liabilities | 37,474,000 | 8,312,000 | 2,556,000 | |||||||||
Net cash provided by operating activities | 124,779,000 | 61,352,000 | 13,295,000 | |||||||||
Cash Flows from Investing Activities: | ||||||||||||
Proceeds on sales of investment properties | 0 | 3,039,000 | 235,000 | |||||||||
Acquisition of investment properties, net | (1,245,128,000) | (752,807,000) | (501,127,000) | |||||||||
Capital expenditures on existing investment properties | (11,304,000) | (4,988,000) | (900,000) | |||||||||
Payments for real estate loans receivable | (10,207,000) | (22,359,000) | (15,386,000) | |||||||||
Pay down of contingent consideration | 0 | (999,000) | 0 | |||||||||
Repayment of real estate loan receivable | (11,336,000) | 0 | 0 | |||||||||
Note receivable | 0 | (20,545,000) | 0 | |||||||||
Repayment of note receivable | 4,118,000 | 0 | 0 | |||||||||
Leasing commissions | (1,034,000) | (579,000) | (100,000) | |||||||||
Lease inducements | (8,957,000) | (2,478,000) | (1,532,000) | |||||||||
Net cash used in investing activities | (1,261,176,000) | (801,716,000) | (518,810,000) | |||||||||
Cash Flows from Financing Activities: | ||||||||||||
Net proceeds from sale of common shares | 766,841,000 | 545,117,000 | 350,384,000 | |||||||||
Proceeds from credit facility borrowings | 1,181,000,000 | 620,000,000 | 395,200,000 | |||||||||
Payment on credit facility borrowings | (925,000,000) | (363,000,000) | (257,200,000) | |||||||||
Proceeds from issuance of mortgage debt | 39,500,000 | 0 | 26,550,000 | |||||||||
Proceeds from issuance of senior unsecured notes | 225,000,000 | 0 | 0 | |||||||||
Principal payments on mortgage debt | (10,232,000) | (2,022,000) | (6,549,000) | |||||||||
Debt issuance costs | (4,816,000) | (3,105,000) | (3,887,000) | |||||||||
Dividends paid - shareholders | (104,908,000) | (63,720,000) | (28,104,000) | |||||||||
Distributions to noncontrolling interest - Operating Partnership | (3,162,000) | (3,216,000) | (3,382,000) | |||||||||
Preferred distributions paid - OP Unit holder | (1,508,000) | (563,000) | 0 | |||||||||
Distributions to noncontrolling interest - partially owned properties | (543,000) | (213,000) | (185,000) | |||||||||
Purchase of Series A Preferred Units | (9,756,000) | 0 | 0 | |||||||||
Purchase of OP Units | (3,671,000) | (1,088,000) | (7,546,000) | |||||||||
Common shares repurchased and retired | 0 | (606,000) | (321,000) | |||||||||
Net cash provided by financing activities | 1,148,745,000 | 727,584,000 | 464,960,000 | |||||||||
Net increase (decrease) in cash and cash equivalents | 12,348,000 | (12,780,000) | (40,555,000) | |||||||||
Cash and cash equivalents, beginning of period | 3,143,000 | 15,923,000 | 56,478,000 | $ 3,143,000 | $ 15,923,000 | $ 56,478,000 | $ 3,143,000 | $ 15,923,000 | $ 56,478,000 | 3,143,000 | 15,923,000 | 56,478,000 |
Cash and cash equivalents, end of period | 15,491,000 | 3,143,000 | 15,923,000 | |||||||||
Supplemental cash flow information: | ||||||||||||
Supplemental disclosure of cash flow information - interest paid during the year | 17,151,000 | 9,550,000 | 5,606,000 | |||||||||
Change in fair value of interest rate cap agreements | 13,708,000 | 0 | 0 | |||||||||
Noncash investing and financing activities: | ||||||||||||
Change in fair value of interest rate swap agreements | 13,708,000 | 0 | 0 | |||||||||
Supplemental disclosure of noncash activity - assumed debt | 0 | 18,690,000 | 15,283,000 | |||||||||
Supplemental disclosure of noncash activity - issuance of OP Units and Series A Preferred Units in connection with acquisitions | 23,848,000 | 10,973,000 | 28,589,000 | |||||||||
Supplemental disclosure of noncash activity - issuance of OP Units and Series A Preferred Units in connection with acquisitions | 6,769,000 | 40,376,000 | 28,589,000 | |||||||||
Supplemental disclosure of noncash activity - contingent consideration | 156,000 | 2,718,000 | 840,000 | |||||||||
Operating Partnership | ||||||||||||
Net income | 5,424,000 | (448,000) | (3,558,000) | 12,608,000 | 2,849,000 | (4,158,000) | 22,902,000 | 6,832,000 | (6,409,000) | 31,522,000 | 12,741,000 | (4,418,000) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities | ||||||||||||
Depreciation and amortization | 16,010,000 | 8,240,000 | 2,416,000 | 35,809,000 | 18,591,000 | 6,152,000 | 59,778,000 | 31,067,000 | 10,565,000 | 86,589,000 | 45,471,000 | 16,731,000 |
Amortization of deferred financing costs | 448,000 | 293,000 | 148,000 | 947,000 | 594,000 | 352,000 | 1,796,000 | 953,000 | 626,000 | 2,325,000 | 1,373,000 | 1,097,000 |
Accelerated amortization of deferred financing costs | 0 | 141,000 | 0 | 0 | 0 | |||||||
Amortization of lease inducements and above/below market lease intangibles | 962,000 | 302,000 | 81,000 | 1,989,000 | 838,000 | 186,000 | 2,994,000 | 1,559,000 | 331,000 | 3,906,000 | 2,577,000 | 571,000 |
Straight-line rental revenue/expense | (3,185,000) | (2,012,000) | (652,000) | (7,204,000) | (3,889,000) | (1,585,000) | (12,156,000) | (6,262,000) | (2,785,000) | (16,226,000) | (9,000,000) | (4,366,000) |
Amortization of above market assumed debt | (59,000) | (10,000) | 0 | (118,000) | (55,000) | 0 | (177,000) | (114,000) | 0 | (236,000) | (173,000) | 0 |
Gain on sale of investment properties | 0 | 15,000 | 0 | 0 | 15,000 | 0 | 0 | (130,000) | (34,000) | 0 | (130,000) | (32,000) |
Equity in income of unconsolidated entities | (32,000) | (26,000) | (17,000) | (58,000) | (52,000) | (43,000) | (85,000) | (78,000) | (69,000) | (115,000) | (104,000) | (95,000) |
Distribution from unconsolidated entities | 27,000 | 26,000 | 0 | 27,000 | 53,000 | 45,000 | 82,000 | 79,000 | 45,000 | 82,000 | 106,000 | 71,000 |
Change in fair value of derivatives | (40,000) | (13,000) | (41,000) | (67,000) | (154,000) | (72,000) | (67,000) | (116,000) | (138,000) | (240,000) | (166,000) | (161,000) |
Provision for bad debts | 30,000 | 0 | 6,000 | 104,000 | 0 | 6,000 | 152,000 | 26,000 | 5,000 | 2,310,000 | 69,000 | 9,000 |
Non-cash share compensation | 1,185,000 | 867,000 | 356,000 | 2,599,000 | 1,944,000 | 860,000 | 3,497,000 | 2,929,000 | 1,681,000 | 4,894,000 | 3,798,000 | 2,422,000 |
Ziegler shared service amendment payment | 0 | 1,800,000 | 0 | 0 | 1,800,000 | |||||||
Write-off of contingent consideration | (840,000) | 0 | (840,000) | 0 | 0 | |||||||
Impairment loss | 0 | 250,000 | 0 | 0 | 1,750,000 | |||||||
Change in operating assets and liabilities: | ||||||||||||
Tenant receivables | (3,665,000) | (1,022,000) | (591,000) | (1,001,000) | (1,453,000) | (50,000) | (7,543,000) | (2,448,000) | (521,000) | (10,058,000) | (2,836,000) | (986,000) |
Other assets | (1,995,000) | (580,000) | 6,000 | (3,081,000) | (1,231,000) | 402,000 | (6,320,000) | (1,268,000) | (1,285,000) | (20,387,000) | (630,000) | (3,518,000) |
Accounts payable to related parties | 0 | 0 | ||||||||||
Accounts payable, trade | 1,015,000 | (252,000) | (114,000) | 1,079,000 | 397,000 | (138,000) | 1,578,000 | 693,000 | (203,000) | 3,779,000 | (56,000) | (136,000) |
Accrued expenses and other liabilities | 4,023,000 | 4,345,000 | 1,580,000 | 15,908,000 | 4,013,000 | 1,954,000 | 23,832,000 | 7,929,000 | 3,445,000 | 37,474,000 | 8,312,000 | 2,556,000 |
Net cash provided by operating activities | 20,148,000 | 9,725,000 | (380,000) | 59,541,000 | 22,460,000 | 3,911,000 | 89,423,000 | 41,651,000 | 7,445,000 | 124,779,000 | 61,352,000 | 13,295,000 |
Cash Flows from Investing Activities: | ||||||||||||
Proceeds on sales of investment properties | 0 | 1,550,000 | 0 | 0 | 1,550,000 | 0 | 0 | 3,039,000 | 235,000 | 0 | 3,039,000 | 235,000 |
Acquisition of investment properties, net | (197,876,000) | (205,278,000) | (138,779,000) | (872,497,000) | (336,128,000) | (208,118,000) | (1,044,601,000) | (629,888,000) | (404,715,000) | (1,245,128,000) | (752,807,000) | (501,127,000) |
Capital expenditures on existing investment properties | (1,820,000) | (1,028,000) | 0 | (6,980,000) | (1,815,000) | (87,000) | (8,665,000) | (3,974,000) | (551,000) | (11,304,000) | (4,988,000) | (900,000) |
Payments for real estate loans receivable | (500,000) | (4,123,000) | (6,836,000) | (3,478,000) | (9,000,000) | (6,836,000) | (8,153,000) | (12,404,000) | (6,836,000) | |||
Pay down of contingent consideration | (10,207,000) | (999,000) | 0 | |||||||||
Proceeds from (payments for) real estate loans receivable | 11,336,000 | (22,359,000) | (15,386,000) | |||||||||
Repayment of real estate loan receivable | (4,500,000) | 0 | (4,500,000) | 0 | (4,500,000) | 0 | (4,118,000) | 0 | 0 | |||
Note receivable | 0 | (4,123,000) | 0 | 0 | (4,123,000) | 0 | 0 | (20,545,000) | 0 | |||
Repayment of note receivable | 4,118,000 | 0 | 4,118,000 | 0 | ||||||||
Leasing commissions | (58,000) | (35,000) | (5,000) | (116,000) | (63,000) | (5,000) | (707,000) | (278,000) | (5,000) | (1,034,000) | (579,000) | (100,000) |
Lease inducements | (1,284,000) | (462,000) | 0 | (4,870,000) | (2,445,000) | (1,500,000) | (4,870,000) | (2,478,000) | (1,532,000) | (8,957,000) | (2,478,000) | (1,532,000) |
Net cash used in investing activities | (197,038,000) | (209,376,000) | (145,620,000) | (879,323,000) | (352,024,000) | (216,546,000) | (1,058,378,000) | (650,106,000) | (413,404,000) | (1,261,176,000) | (801,716,000) | (518,810,000) |
Cash Flows from Financing Activities: | ||||||||||||
Net proceeds from sale of common shares | 321,238,000 | 301,772,000 | (57,000) | 764,205,000 | 318,041,000 | 149,917,000 | 764,292,000 | 318,170,000 | 295,610,000 | 766,841,000 | 545,117,000 | 350,384,000 |
Formation transactions | 0 | 0 | 0 | |||||||||
Proceeds from credit facility borrowings | 150,000,000 | 73,000,000 | 80,000,000 | 528,000,000 | 191,000,000 | 113,200,000 | 921,000,000 | 473,000,000 | 286,200,000 | 1,181,000,000 | 620,000,000 | 395,200,000 |
Payment on credit facility borrowings | (424,000,000) | (138,000,000) | 0 | (545,000,000) | (138,000,000) | (113,200,000) | (860,000,000) | (138,000,000) | (216,200,000) | (925,000,000) | (363,000,000) | (257,200,000) |
Proceeds from issuance of mortgage debt | 21,500,000 | 0 | 26,550,000 | 21,500,000 | 0 | 26,550,000 | 21,500,000 | 0 | 26,550,000 | 39,500,000 | 0 | 26,550,000 |
Proceeds from issuance of senior unsecured notes | 150,000,000 | 0 | 150,000,000 | 0 | 225,000,000 | 0 | 225,000,000 | 0 | 0 | |||
Principal payments on mortgage debt | (541,000) | (466,000) | (384,000) | (1,089,000) | (966,000) | (803,000) | (1,646,000) | (1,486,000) | (1,234,000) | (10,232,000) | (2,022,000) | (6,549,000) |
Debt issuance costs | (808,000) | (24,000) | (761,000) | (4,313,000) | (144,000) | (1,331,000) | (4,693,000) | (3,029,000) | (3,848,000) | (4,816,000) | (3,105,000) | (3,887,000) |
Dividends paid - shareholders | (19,666,000) | (15,792,000) | (4,848,000) | (44,151,000) | (31,613,000) | (9,716,000) | (74,515,000) | (47,665,000) | (17,443,000) | (104,908,000) | (63,720,000) | (28,104,000) |
Distributions to noncontrolling interest - Operating Partnership | (809,000) | (714,000) | (832,000) | (1,616,000) | (1,523,000) | (1,664,000) | (2,410,000) | (2,374,000) | (2,665,000) | (3,162,000) | (3,216,000) | (3,382,000) |
Preferred distributions paid - OP Unit holder | (204,000) | 0 | (704,000) | (238,000) | 0 | (1,115,000) | (360,000) | 0 | (1,508,000) | 0 | 0 | |
Distributions to noncontrolling interest - partially owned properties | (57,000) | (69,000) | (54,000) | (363,000) | (114,000) | (99,000) | (450,000) | (158,000) | (143,000) | (543,000) | (213,000) | (185,000) |
Purchase of Series A Preferred Units | (9,756,000) | 0 | (9,756,000) | 0 | (9,756,000) | (563,000) | 0 | |||||
Purchase of OP Units | 0 | (205,000) | 0 | (2,129,000) | (253,000) | 0 | (2,999,000) | (253,000) | 0 | (3,671,000) | (1,088,000) | (7,546,000) |
Common shares repurchased and retired | 0 | (595,000) | (321,000) | 0 | (606,000) | (321,000) | ||||||
Net cash provided by financing activities | 196,653,000 | 219,502,000 | 99,614,000 | 854,584,000 | 336,190,000 | 162,854,000 | 974,208,000 | 597,250,000 | 366,506,000 | 1,148,745,000 | 727,584,000 | 464,960,000 |
Net increase (decrease) in cash and cash equivalents | 19,763,000 | 19,851,000 | (46,386,000) | 34,802,000 | 6,626,000 | (49,781,000) | 5,253,000 | (11,205,000) | (39,453,000) | 12,348,000 | (12,780,000) | (40,555,000) |
Cash and cash equivalents, beginning of period | 3,143,000 | 15,923,000 | 56,478,000 | 3,143,000 | 15,923,000 | 56,478,000 | 3,143,000 | 15,923,000 | 56,478,000 | 3,143,000 | 15,923,000 | 56,478,000 |
Cash and cash equivalents, end of period | 22,906,000 | 35,774,000 | 10,092,000 | 37,945,000 | 22,549,000 | 6,697,000 | 8,396,000 | 4,718,000 | 17,025,000 | 15,491,000 | 3,143,000 | 15,923,000 |
Supplemental cash flow information: | ||||||||||||
Supplemental disclosure of cash flow information - interest paid during the year | 2,181,000 | 1,402,000 | 1,025,000 | 4,300,000 | 3,332,000 | 2,607,000 | 12,074,000 | 6,010,000 | 4,113,000 | 17,151,000 | 9,550,000 | 5,606,000 |
Change in fair value of interest rate cap agreements | 652,000 | 13,708,000 | 0 | 0 | ||||||||
Noncash investing and financing activities: | ||||||||||||
Change in fair value of interest rate swap agreements | 652,000 | 0 | 13,708,000 | 0 | 0 | |||||||
Supplemental disclosure of noncash activity - assumed debt | 0 | 6,323,000 | 10,800,000 | 0 | 18,690,000 | 10,395,000 | 0 | 18,690,000 | 15,283,000 | 0 | 18,690,000 | 15,283,000 |
Supplemental disclosure of noncash activity - issuance of OP Units and Series A Preferred Units in connection with acquisitions | 2,869,000 | 17,017,000 | ||||||||||
Supplemental disclosure of noncash activity - issuance of OP Units and Series A Preferred Units in connection with acquisitions | 17,017,000 | 0 | 20,438,000 | 3,135,000 | 20,677,000 | 28,589,000 | ||||||
Supplemental disclosure of noncash activity - issuance of OP Units and Series A Preferred Units in connection with acquisitions | 6,869,000 | 20,438,000 | 6,769,000 | 20,677,000 | 6,769,000 | 40,376,000 | 28,589,000 | |||||
Supplemental disclosure of noncash activity - contingent consideration | $ 0 | $ 1,482,000 | $ 0 | $ 156,000 | $ 1,482,000 | $ 0 | $ 156,000 | $ 550,000 | $ 840,000 | $ 156,000 | $ 2,718,000 | $ 840,000 |
Organization and Business
Organization and Business | 12 Months Ended |
Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Business | Organization and Business Physicians Realty Trust (the “Trust”) was organized in the state of Maryland on April 9, 2013. As of December 31, 2016 , 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” and together with the Trust and its consolidated subsidiaries, including the Operating Partnership, the “Company”), a Delaware limited partnership, and is the sole general partner of the Operating Partnership. The Trust and the Operating Partnership are managed and operated as one entity. The Trust has no significant assets other than its investment in 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. Therefore, the assets and liabilities of the Trust and the Operating Partnership are the same. 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. Equity Offerings 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 $321.1 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. On April 11, 2016, the Trust completed a follow-on public offering of 25,875,000 common shares of beneficial interest, including 3,375,000 common shares issued upon exercise of the underwriters’ overallotment option, resulting in net proceeds to it of approximately $442.6 million . The Trust contributed the net proceeds of this offering to the Operating Partnership in exchange for 25,875,000 OP Units, and the Operating Partnership used the net proceeds of the public offering to repay borrowings under its unsecured revolving credit facility, for general corporate and working capital purposes, for funding acquisitions, and to fund a portion of the purchase price for the acquisition of medical office facilities (the “CHI Portfolio”) from certain subsidiaries and affiliates of Catholic Health Initiatives (the “CHI Acquisition”). ATM Program 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 Weighted Net 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 On March 8, 2016 , the Company terminated the separate At Market Issuance Sales Agreements with each of MLV & Co. LLC, KeyBanc Capital Markets Inc., JMP Securities LLC, and RBC Capital Markets, LLC, previously entered into on August 19, 2014. There were no sales of common shares pursuant to such At Market Issuance Sales Agreements during fiscal year 2016. On August 5, 2016, the Trust and the Operating Partnership entered into separate At Market Issuance Sales Agreements (the “2016 Sales Agreements”) with each of KeyBanc Capital Markets Inc., Credit Agricole Securities (USA) Inc., JMP Securities LLC, Raymond James & Associates, Inc., and Stifel Nicolaus & Company, Incorporated (the “2016 Agents”), pursuant to which the Trust may issue and sell, from time to time, its common shares having an aggregate offering price of up to $300.0 million , through the Agents (the “2016 ATM Program”). In accordance with the 2016 Sales Agreements, the Trust may offer and sell its common shares through any of the 2016 Agents, from time to time, by any method deemed to be an “at the market offering” as defined in Rule 415 under the Securities Act of 1933, as amended, which includes sales made directly on the New York Stock Exchange or other existing trading market, or sales made to or through a market maker. With the Trust’s express written consent, sales may also be made in negotiated transactions or any other method permitted by law. During 2016, the Trust’s issuance and sale of common shares pursuant to the 2016 ATM Program is as follows (in thousands, except common shares and price): 2016 Common shares sold Weighted average price Net proceeds Quarterly period ended March 31 — $ — $ — Quarterly period ended June 30 — — — Quarterly period ended September 30 — — — Quarterly period ended December 31 135,531 19.09 2,561 Year ended December 31 135,531 $ 19.09 $ 2,561 As of February 17, 2017 , the Trust has $297.4 million remaining available under the 2016 ATM Program. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Principles of Consolidation GAAP requires us 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”). ASC 810 broadly defines a VIE as an entity in which either (i) the equity investors as a group, if any, lack the power through voting or similar rights to direct the activities of such entity that most significantly impact such entity’s economic performance or (ii) the equity investment at risk is insufficient to finance that entity’s activities without additional subordinated financial support. We identify the primary beneficiary of a VIE as the enterprise that has both of the following characteristics: (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 receive benefits of the VIE that could potentially be significant to the entity. We consolidate our investment in a VIE when we determine that we are the VIE’s primary beneficiary. We may change our 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. We perform this analysis on an ongoing basis. For property holding entities not determined to be VIEs, we consolidate such entities in which 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 Operating Partnership owns less than 100% of the equity interest, the Operating Partnership 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 Operating Partnership records a noncontrolling interest representing equity held by noncontrolling interests. Noncontrolling Interests The Company 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 Company’s total shareholders’ equity, on the consolidated balance sheets. Operating Partnership: Net income or loss is allocated to noncontrolling interests (limited partners) 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. During the year ended December 31, 2016, the Operating Partnership partially funded one property acquisition by issuing an aggregate of 174,085 OP Units valued at approximately $2.9 million on the date of issuance. The acquisition had a total purchase price of approximately $8.5 million . In addition, the Operating Partnership funded the acquisition of the remaining non-controlling interest on a property by issuing an aggregate of 217,549 OP Units valued at approximately $4.0 million . Noncontrolling interests in the Company include OP Units held by the Predecessor’s prior investors and other investors. As of December 31, 2016 and 2015 , the Trust held a 97.5% and 95.7% interest in the Operating Partnership, respectively. As the sole general partner and the majority interest holder, the Trust consolidates the financial position and results of operations 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 investors other than the Trust as noncontrolling interests within equity in the consolidated balance sheet. Partially Owned Properties: The Trust and OP reflect noncontrolling interests in partially owned properties on the balance sheet for the portion of consolidated properties that are not wholly owned by the Company. The earnings or losses from those properties attributable to the noncontrolling interests are reflected as noncontrolling interests in partially owned properties in the consolidated statement of operations. Redeemable Noncontrolling Interests - Series A Preferred Units 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. The Series A Preferred Units were evaluated for embedded features that should be bifurcated and separately accounted for as a freestanding derivative. The Company determined that the Series A Preferred Units contained features that require bifurcation. The Company records the carrying amount of the redeemable noncontrolling interests, less the value of the embedded derivative, at the greater of the carrying value or redemption value. The fair value of the embedded derivative within the Series A Preferred Units is $5.6 million and is included in the consolidated balance sheets in accrued expenses and other liabilities. On February 5, 2015, the acquisition of the Minnetonka MOB was partially funded with the issuance of 44,685 Series A Preferred Units which were 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 were valued at $19.7 million . On April 1, 2016, the Series A Preferred Units issued in conjunction with the Minnetonka MOB acquisition were redeemed for a total value of $9.8 million . The fair value of the embedded derivative associated with the previously outstanding Series A Preferred Units was $2.7 million which was derecognized in the course of the redemption. 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. During 2016, approximately $8.5 million was reclassified from Noncontrolling interests - partially owned properties to Redeemable noncontrolling interest – Series A Preferred Units and partially owned properties on our consolidated balance sheets due to specific redemption features identified within our investment in a specific property. Dividends and Distributions Dividends and distributions for the years ended December 31, 2016 , 2015 , and 2014 are as follows: Declaration Date Record Date Payment Date Cash Dividend per Share/Unit December 22, 2016 January 5, 2017 January 18, 2017 $ 0.225 September 26, 2016 October 6, 2016 October 18, 2016 $ 0.225 June 23, 2016 July 5, 2016 July 18, 2016 $ 0.225 March 18, 2016 April 1, 2016 April 18, 2016 $ 0.225 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 Our shareholders are entitled to reinvest all or a portion of any cash distribution on their shares of our common stock by participating in our Dividend Reinvestment and Share Purchase Plan (“DRIP”), subject to the terms of the plan. Tax Status of Dividends and Distributions Our distributions of current and accumulated earnings and profits for U.S. federal income tax purposes generally are taxable to shareholders as ordinary income. Distributions in excess of these earnings and profits generally are treated as a non-taxable reduction of the shareholders’ basis in the shares to the extent thereof (non-dividend distributions) and thereafter as taxable gain. Any cash distributions received by an OP Unit holder in respect of its OP Units generally will not be taxable to such OP Unit holder for U.S. federal income tax purposes, to the extent that such distribution does not exceed the OP Unit holder’s basis in its OP Units. Any such distribution will instead reduce the OP Unit holder’s basis in its OP Units (and OP Unit holders will be subject to tax on the taxable income allocated to them by the Operating Partnership in respect of their OP Units when such income is earned by the Operating Partnership, with such income allocation increasing the OP Unit holders’ basis in their OP Units). The following table sets forth the federal income tax status of distributions per common share and OP Unit for the periods presented: Year Ended December 31, 2016 2015 2014 Per common share and OP Unit: Ordinary dividends $ 0.5325 $ 0.2693 $ 0.1257 Qualified dividends — — — Capital gain distributions — — 0.0009 Non-dividend distributions 0.3675 0.6307 0.7734 Total $ 0.9000 $ 0.9000 $ 0.9000 Purchases 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 and intangible 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 Company 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 generally includes the assistance of a third party appraiser. The Company 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 Company 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 Company’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 plus the term of any renewal options that the lessee would be economically compelled to exercise. 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 to amortization expense 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, net of any required lease termination payments. The Company 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 Company approximates based on the rate it would expect to incur on a replacement instrument on the date of acquisition, and recognizes 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 Company 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 Company expenses transaction costs associated with acquisitions accounted for as business combinations in the period incurred. Impairment of Intangible and Long-Lived Assets The Company 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 Company 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 Company 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 Company recognizes an impairment loss at the time it makes any such determination. If the Company 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 Company did not record impairment charges in the twelve months ended December 31, 2016 and 2015 . Impairment charges of $1.8 million were recorded in the year ended December 31, 2014 . Assets Held for Sale and Discontinued Operations The Company may sell properties from time to time for various reasons, including favorable market conditions. The Company 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. No properties were classified as held for sale as of December 31, 2016 or 2015 , and dispositions during the years ended December 31, 2015 and 2014 did not qualify as discontinued operations. Investments in Unconsolidated Entities The Company 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 Company’s share of the investee’s earnings or losses is included in its consolidated 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 Company 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 Company the land on which the Crescent City Surgical Centre is situated, for $1.3 million . During 2016, the Company completed the acquisition of a 43% limited liability company membership interest in Desert Cove MOB, LLC. The entity intends to purchase a Medical Office Building in Scottsdale, AZ with an anticipated purchase price of approximately $6.9 million. The purchase of the MOB will be completed with capital contributed to date by each respective member, as well as the obtaining of project financing of approximately $4.8 million. The Company’s initial investment in the joint venture was $0.9 million . Real Estate Loans Receivable Real estate loans receivable consists of eight mezzanine loans and two term loans. Each mezzanine loan is collateralized by an ownership interest in the respective borrower, while the term loans are secured by equity interests in two medical office building developments. 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 Company’s consolidated statements 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 Company is subject to concentrations of credit risk as a result of its temporary cash investments. The Company places its temporary cash investments with high credit quality financial institutions in order to mitigate that risk. Escrow Reserves The Company 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, 2016 and 2015 are $4.3 million and $4.8 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 included as a component of other assets and are amortized on a straight-line basis over the terms of their respective agreements. Deferred financing costs are shown as a direct reduction from the related debt liability. 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. Derivative Instruments When the Company has derivative instruments embedded in other contracts, it records them either as an asset or a liability measured at their fair value unless they qualify for a normal purchase or normal sales exception. When specific hedge accounting criteria are not met, changes in the Company’s derivative instruments’ fair value are recognized currently in earnings. Changes in the fair market values of the Company’s derivative instruments are recorded in the consolidated statements of income if the derivative instruments do not qualify for, or the Company does not elect to apply for, hedge accounting. If hedge accounting is applied to a derivative instrument, such changes are reported in accumulated other comprehensive income within the consolidated statement of equity, exclusive of ineffectiveness amounts, which are recognized as adjustments to net income. To manage interest rate risk for certain of its variable-rate debt, the Company uses interest rate swaps as part of its risk management strategy. These derivatives are designed to mitigate the risk of future interest rate increases by providing a fixed interest rate for a limited, pre-determined period of time. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. As of December 31, 2016 , the Company had five outstanding interest rate swap contracts that are designated as cash flow hedges of interest rate risk. For presentational purposes, they are shown as one derivative due to the identical nature of their economic terms. Further detail is provided in Note 7 (Derivatives) . The effective portion of the change in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive income (“AOCI”) on the consolidated balance sheets and is subsequently reclassified into earnings as interest expense for the period that the hedged forecasted transaction affects earnings. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. For the twelve months ended December 31, 2016 , the Company recognized a $0.2 million gain as a result of hedge ineffectiveness. The Company expects hedge ineffectiveness to be insignificant in the next 12 months. Tenant Receivables, Net Tenant accounts receivable are stated net of the applicable allowance. Rental payments under these contracts are primarily due monthly. The Company assesses the collectability of tenant receivables, including straight-line rent receivables, and defers recognition of revenue if collectability is not reasonably assured. The Company 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 Company will be unable to recover the full value of the receivable, the Company provides a reserve against the portion of the receivable that it estimates may not be recovered. At December 31, 2016 and 2015 , the allowance for doubtful accounts was $2.4 million and $0.1 million , respectively. 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 $32.0 million and $15.6 million as of December 31, 2016 and 2015 , respectively. If the Company determines that collectability of straight-line rents is not reasonably assured, the Company 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 Company is generally the primary obligor with respect to real estate taxes and purchasing goods and services from third-party suppliers, has discretion in selecting the supplier, and bears the credit risk of tenant reimbursement. The Company 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 Company 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. As discussed in Note 1 (Organization and Business) , the Trust conducts substantially all of its operations through the Operating Partnership. As a partnership, the Operating Partnership generally is not liable for federal income taxes. The income and loss from the operations of the Operating Partnership is included in the tax returns of its partners, including the Trust, who are responsible for reporting their allocable share of the partnership income and loss. Accordingly, no provision for income taxes has been made on the accompanying consolidated financial statements. Management Estimates The preparation of consolidated 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 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 The Company records liabilities for contingent consideration (included in accrued expenses and other liabilities on its consolidated balance sheets) at fair value as of the acquisition date and reassesses 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. Related Parties It is the Company’s policy to make disclosures regarding any transactions in which it participates and in which any related person has a direct or indirect material interest and the amount involved exceeds $120,000 to the extent required by SEC rules. The related person transaction policy is available in the Investor Relations section of the Trust’s website (www.docreit.com) under the tab “Governance Documents.” In 2016, the Company recognized rental revenues totaling $0.6 million from Aurora Health Care, a not-for-profit healthcare provider affiliated with certain members of the Trust’s Board of Trustees. 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 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 2014-09, 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. The Company anticipates that adoption of ASU 2014-09 will take place on January 1, 2018 via the modified retrospective approach. Under the full retrospective method, the standard would be applied retrospectively to all reporting periods represented on the financials statements. The modified retrospective approach applies the standard in the year of initial application and presents the cumulative effect of prior periods with an adjustment to beginning retained earnings, with no restatement of comparative periods. As leasing arrangements (which are excluded from ASU 2014-09) represent the primary source of revenue for the Company, the impact of adoption will be limited to the Company’s recognition and presentation of non-lease revenues. The Company continues to evaluate the impact of ASU 2014-09 to its consolidated financial statements. In February 2015, the F |
Acquisitions and Dispositions
Acquisitions and Dispositions | 12 Months Ended |
Dec. 31, 2016 | |
Business Combinations [Abstract] | |
Acquisitions and Dispositions | Acquisitions and Dispositions During 2016 , the Company completed acquisitions of 95 operating healthcare properties (including 5 condominium units and the CHI Portfolio) and 1 land parcel, located in 23 states, for an aggregate purchase price of approximately $1.27 billion . In addition, the Company completed $0.9 million of joint venture investments, $10.2 million of loan transactions, $2.5 million of redeemable noncontrolling interest buyouts, and $0.6 million of equity buyouts, resulting in total investment activity of approximately $1.29 billion . This aggregate purchase price does not include near-term capital expenditure commitments of $12.9 million and committed tenant improvement allowances of $8.9 million related to the Company’s acquisition of the CHI Portfolio. Investment activity for the year ending December 31, 2016 is summarized below: Property (1) Location Acquisition Date Purchase Price (in thousands) Tinseltown - Loan Draws Jacksonville, FL $ 2,192 Randall Road MOB - Suite 380 (3) Elgin, IL January 14, 2016 704 Great Falls Hospital (2) Great Falls, MT January 25, 2016 29,043 Monterey Medical Center ASC (2) Stuart, FL February 1, 2016 6,900 Physicians Medical Plaza MOB (2) (4) Indianapolis, IN February 1, 2016 8,500 Mezzanine Loan - Davis Minnetonka, MN February 4, 2016 500 Park Nicollet Clinic (2) Chanhassen, MN February 8, 2016 18,600 HEB Cancer Center (2) Bedford, TX February 12, 2016 13,980 Riverview Medical Center (2) Lancaster, OH February 26, 2016 12,800 St. Luke's Cornwall MOB (2) Cornwall, NY February 26, 2016 14,550 HonorHealth Glendale (3) Glendale, AZ March 15, 2016 9,820 Columbia MOB (2) Hudson, NY March 21, 2016 18,450 St Vincent POB 1 (2) Birmingham, AL March 23, 2016 10,951 St Vincent POB 2 (2) Birmingham, AL March 23, 2016 7,945 St Vincent POB 3 (2) Birmingham, AL March 23, 2016 10,455 Emerson Medical Building (2) Creve Coeur, MO March 24, 2016 14,250 Randall Road MOB - Suite 160 (3) Elgin, IL March 24, 2016 865 Patient Partners Surgery Center (2) Gallatin, TN March 30, 2016 4,750 Eye Associates of NM - Santa Fe (3) Santa Fe, NM March 31, 2016 8,739 Eye Associates of NM - Albuquerque (3) Albuquerque, NM March 31, 2016 10,536 Gardendale Surgery Center (2) Gardendale, AL April 11, 2016 7,450 HealthEast - Curve Crest (2) Stillwater, MN April 14, 2016 4,144 HealthEast - Victor Gardens (2) Hugo, MN April 14, 2016 6,025 NOMS - Clyde (3) Clyde, OH May 10, 2016 6,342 Blandford MOB (3) (5) Little Rock, AR May 11, 2016 2,580 Cardwell MOB (2) (5) Lufkin, TX May 11, 2016 8,444 Dacono Neighborhood Health (3) (5) Dacono, CO May 11, 2016 5,152 Franciscan Health (3) (5) Tacoma, WA May 11, 2016 9,772 Grand Island Specialty Clinic (3) (5) Grand Island, NE May 11, 2016 2,891 Hot Springs MOB (2) (5) Hot Springs Village, AR May 11, 2016 3,626 Jewish Medical Center East (3) (5) Louisville, KY May 11, 2016 85,000 Jewish Medical Center South MOB - 1 (3) (5) Shepherdsville, KY May 11, 2016 17,021 Jewish Medical Plaza I (2) (5) Louisville, KY May 11, 2016 9,650 Jewish Medical Plaza II (2) (5) Louisville, KY May 11, 2016 6,124 Jewish OCC (3) (5) Louisville, KY May 11, 2016 35,600 Property (1) Location Acquisition Date Purchase Price (in thousands) Lakeside Three Professional Center (2) (5) Omaha, NE May 11, 2016 1,581 Lexington Surgery Center (2) (5) Lexington, KY May 11, 2016 20,169 Medical Arts Pavilion (2) (5) Lufkin, TX May 11, 2016 6,304 Memorial Outpatient Center (3) (5) Lufkin, TX May 11, 2016 4,958 Midlands Two Professional Center (2) (5) Papillion, NE May 11, 2016 1,341 Parkview MOB (2) (5) Little Rock, AR May 11, 2016 5,060 Peak One ASC (2) (5) Frisco, CO May 11, 2016 6,587 Physicians Medical Center (2) (5) Tacoma, WA May 11, 2016 6,782 St. Alexius - Minot Medical Plaza (3) (5) Minot, ND May 11, 2016 26,570 St. Clare Medical Pavilion (2) (5) Lakewood, WA May 11, 2016 10,617 St. Joseph Medical Pavilion (2) (5) Tacoma, WA May 11, 2016 13,320 St. Joseph Office Park (2) (5) Lexington, KY May 11, 2016 17,228 St. Mary - Caritas Medical II (2) (5) Louisville, KY May 11, 2016 5,603 St. Mary - Caritas Medical III (2) (5) Louisville, KY May 11, 2016 842 Thornton Neighborhood Health (3) (5) Thornton, CO May 11, 2016 3,875 Medical Village at Kissimmee (2) Kissimmee, FL May 26, 2016 4,923 Medical Village at Leesburg (2) Leesburg, FL May 26, 2016 4,576 St. Francis MOB (2) (5) Federal Way, WA June 2, 2016 14,287 Children's Hospital MOB (2) Milwaukee, WI June 3, 2016 5,850 Jewish Medical Center South MOB - 2 (2) Shepherdsville, KY June 8, 2016 4,343 Good Samaritan North Annex Building (3) (5) Kearney, NE June 28, 2016 2,874 NE Heart Institute Medical Building (3) (5) Lincoln, NE June 28, 2016 19,600 St. Vincent West MOB (3) (5) Little Rock, AR June 29, 2016 14,120 Meridan MOB (3) (5) Englewood, CO June 29, 2016 17,329 St. Mary - Caritas Medical I (2) (5) Louisville, KY June 29, 2016 8,864 St. Alexius - Medical Arts Pavilion (3) (5) Bismarck, ND June 29, 2016 12,983 St. Alexius - Mandan Clinic (3) (5) Mandan, ND June 29, 2016 8,390 St. Alexius - Orthopaedic Center (2) (5) Bismarck, ND June 29, 2016 14,727 St. Alexius - Rehab Center (3) (5) Bismarck, ND June 29, 2016 6,215 St. Alexius - Tech & Ed (3) (5) Bismarck, ND June 29, 2016 16,680 Good Samaritan MOB (2) (5) Kearney, NE June 29, 2016 24,198 Lakeside Two Professional Building (2) (5) Omaha, NE June 29, 2016 13,691 Lakeside Wellness Center (3) (5) Omaha, NE June 29, 2016 10,138 McAuley Center (3) (5) Omaha, NE June 29, 2016 18,382 Memorial Health Center (3) (5) Grand Island, NE June 29, 2016 34,042 Missionary Ridge MOB (2) (5) Chattanooga, TN June 29, 2016 7,635 Pilot Medical Center (3) Birmingham, AL June 29, 2016 17,351 St. Joseph Medical Clinic (2) (5) Tacoma, WA June 30, 2016 16,444 Woodlands Medical Arts Center (2) (5) The Woodlands, TX June 30, 2016 21,227 FESC MOB (3) (5) Tacoma, WA June 30, 2016 16,748 Mezzanine Loan - Catalyst Pensacola, FL June 30, 2016 1,340 Prairie Care MOB (2) Maplewood, MN July 6, 2016 4,886 RE Loan - El Paso El Paso, TX July 7, 2016 1,300 Springwoods MOB (2) (5) Spring, TX July 21, 2016 19,925 Equity Buyout - Foundation (6) TX / OK July 26, 2016 611 Property (1) Location Acquisition Date Purchase Price (in thousands) Mezzanine Loan - Hazelwood Minnetonka, MN July 29, 2016 3,375 Jackson, Tennessee Land (3) Jackson, TN August 2, 2016 1,000 Unity Portfolio (4 MOBs) (2) West Lafayette, IN August 8, 2016 28,751 Medical Village at Maitland (2) Orlando, FL August 23, 2016 23,211 Tri-State Orthopaedics MOB (2) Evansville, IN August 30, 2016 22,000 Noncontrolling Interest Buyout - Great Falls Clinic (7) Great Falls, MT September 30, 2016 1,015 Maury Regional Healthcare MOB (2) (8) Spring Hill, TN September 30, 2016 18,500 Spring Ridge Medical Center (2) Wyomissing, PA September 30, 2016 6,100 Doctors Community Hospital MOB (2) Lanham, MD September 30, 2016 26,750 Gig Harbor Medical Pavilion (3) (5) Gig Harbor, WA September 30, 2016 4,766 Midlands One Professional Center (2) (5) Papillion, NE September 30, 2016 14,856 N.W. Michigan Surgery Center - Units #1 & #2 (3) (9) Traverse City, MI October 28, 2016 29,448 United Surgical Partners Joint Venture (10) Scottsdale, AZ October 31, 2016 903 N.W. Michigan Surgery Center - Unit #4 (3) (11) Traverse City, MI November 4, 2016 2,715 Syracuse Portfolio (2 MOBs) (2) Syracuse, NY November 23, 2016 54,239 Cincinnati Eye Institute (3) Cincinnati, OH November 23, 2016 38,100 Curie Building Loan El Paso, TX December 2, 2016 1,500 HonorHealth - Scottsdale MOB (3) Scottsdale, AZ December 2, 2016 6,900 Fox Valley Hematology & Oncology (3) Appleton, WI December 8, 2016 28,200 Gastrointestinal Associates MOB (2) Powell, TN December 9, 2016 6,287 Northern Vision Eye Center (3) Traverse City, MI December 15, 2016 2,777 Noncontrolling Interest Buyout - Great Falls Clinic (12) Great Falls, MT December 15, 2016 1,497 Flower Mound Portfolio (3 MOBs) (3) Flower Mound, TX December 16, 2016 27,800 HonorHealth IRF (3) Scottsdale, AZ December 22, 2016 25,628 $ 1,285,185 (1) “MOB” means medical office building. “ASC” means ambulatory surgery center. “POB” means professional office building. “IRF” means inpatient rehabilitation facility. (2) The Company accounted for these acquisitions as business combinations pursuant to the acquisition method and expensed total acquisition costs of $14.8 million . (3) The Company accounted for these acquisitions as asset acquisitions and capitalized total acquisition costs of $3.0 million . (4) The Company partially funded the purchase price of this acquisition by issuing a total of 174,085 OP Units valued at approximately $2.9 million in the aggregate on the date of issuance. (5) These acquisitions are part of the CHI Portfolio. (6) The Company acquired the previously outstanding 1% noncontrolling interest retained by the predecessor owner on three properties in El Paso, Texas and Oklahoma City, Oklahoma. (7) The Company acquired an additional 3% interest in the Great Falls Clinic joint venture from the predecessor owner, increasing the Company’s total interest to 77.3% . (8) The Company acquired 99.7% of the ownership interest in this property, the remainder of which was retained by the seller. (9) The Company partially funded the purchase price of the acquisition of two condominium units within the Northwest Michigan Surgery Center through the unregistered issuance of 947,936 common shares of beneficial interest. (10) The Company’s investment in the United Surgical Partners J.V. represents a 43% ownership interest. (11) The Company partially funded the purchase price of the acquisition of one additional condominium unit within the Northwest Michigan Surgery Center through the unregistered issuance of 88,602 common shares of beneficial interest. (12) The Company acquired an additional 5% interest in the Great Falls Clinic joint venture from the predecessor owner, increasing the Company’s total interest to 81.8% . For 2016 , the Company recorded revenues and net income of $66.7 million and $14.9 million , respectively, from its 2016 acquisitions. During 2015 , the Company completed acquisitions of 66 properties located in 22 states for an aggregate purchase price of approximately $818.6 million . In addition, the Company completed loan investments totaling $22.4 million . Investment activity for the year ending December 31, 2015 is summarized below: Property (1) Location Acquisition 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 Property (1) Location Acquisition Purchase Price (in thousands) IMS - North Mountain MOB (5) Phoenix, AZ August 31, 2015 51,740 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 $ 840,958 (1) “MOB” means medical office building and “ASC” means ambulatory surgical center. (2) Through subsidiaries of the Operating Partnership, the Company 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 Company accounted for these acquisitions as asset acquisitions and capitalized $ 0.4 million of total acquisition costs to the basis of the properties. (5) The Company accounted for these acquisitions as business combinations pursuant to the acquisition method and expensed total acquisition costs of $14.9 million . (6) The Company 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 Company 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 Company 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 Company 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 Company has an option to purchase the property. (10) The Company 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 Company 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 Company made a $4.5 million mezzanine term loan to partially fund the owner’s permanent financing of the Truman Medical Center in Kansas City, Missouri. The loan accrues interest at the rate of 8.02% per year. The Company has rights of first offer and first refusal to purchase the property. (13) The Company made a $4.5 million mezzanine term loan to partially fund the construction of the Great Falls Hospital in Great Falls, Montana. The loan accrues interest at the rate of 9.0% per year. The Company 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 Company 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 Company’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 Company recorded revenues and net income of $41.4 million and $10.6 million , respectively, from its 2015 acquisitions. The following table summarizes the preliminary purchase price allocations of the assets acquired and the liabilities assumed, which the Company determined using Level 2 and Level 3 inputs (in thousands): December 31, 2016 December 31, 2015 Land $ 57,847 $ 52,224 Building and improvements 1,112,746 643,470 In-place lease intangible 58,666 99,763 Above market in-place lease intangible 9,359 19,337 Below market in-place lease intangible (4,518 ) (3,738 ) Above market in-place ground lease (644 ) — Below market in-place ground lease 28,937 13,941 Lease inducement 8,945 2,478 Contingent consideration (156 ) (2,718 ) Receivable 104 3,564 Debt assumed — (18,690 ) Prepaid expenses 2,659 — Issuance of Common Shares (20,980 ) — Issuance of OP Units (2,869 ) (10,973 ) Issuance of Series A Preferred Units — (29,403 ) Noncontrolling interest (50 ) (13,970 ) Investment in unconsolidated entity 903 — Net assets acquired $ 1,250,949 $ 755,285 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 Physicians Realty Trust The following table illustrates the pro forma consolidated revenue, net income, and earnings per share as if the Company had acquired the 2016 acquisitions detailed above as of January 1, 2015 (in thousands, except share and per share amounts): Year Ended December 31, 2016 2015 Revenue $ 303,590 $ 258,657 Net income 47,154 37,288 Net income available to common shareholders 43,372 34,090 Earnings per share - basic $ 0.34 $ 0.27 Earnings per share - diluted $ 0.34 $ 0.27 Weighted average number of shares outstanding - basic 126,143,114 126,143,114 Weighted average number of shares outstanding - diluted 130,466,893 130,466,893 Physicians Realty L.P. The following table illustrates the pro forma consolidated revenue, net income, and earnings per share as if the Company had acquired the 2016 acquisitions detailed above as of January 1, 2015 (in thousands, except unit and per unit amounts): Year Ended December 31, 2016 2015 Revenue $ 303,590 $ 258,657 Net income 47,154 37,288 Net income available to common unitholders 44,580 35,720 Earnings per unit - basic $ 0.34 $ 0.28 Earnings per unit - diluted $ 0.34 $ 0.27 Weighted average number of units outstanding - basic 129,835,209 129,835,209 Weighted average number of units outstanding - diluted 130,466,893 130,466,893 |
Intangibles
Intangibles | 12 Months Ended |
Dec. 31, 2016 | |
Finite-Lived Intangible Assets, Net [Abstract] | |
Intangibles | Intangibles The following is a summary of the carrying amount of intangible assets and liabilities as of December 31, 2016 and 2015 (in thousands): December 31, 2016 December 31, 2015 Cost Accumulated Amortization Net Cost Accumulated Amortization Net Assets In-place leases $ 222,394 $ (55,605 ) $ 166,789 $ 163,728 $ (26,702 ) $ 137,026 Above market leases 35,478 (6,909 ) 28,569 26,787 (3,174 ) 23,613 Leasehold interest 712 (124 ) 588 712 (64 ) 648 Below market ground lease 42,878 (539 ) 42,339 13,941 (68 ) 13,873 Total $ 301,462 $ (63,177 ) $ 238,285 $ 205,168 $ (30,008 ) $ 175,160 Liability Below market lease $ 10,297 $ (2,345 ) $ 7,952 $ 6,068 $ (799 ) $ 5,269 Above market ground lease 1,345 (44 ) 1,301 701 (20 ) 681 Total $ 11,642 $ (2,389 ) $ 9,253 $ 6,769 $ (819 ) $ 5,950 The following is a summary of the acquired lease intangible amortization for the years ended December 31, 2016 , 2015 , and 2014 (in thousands): December 31, 2016 2015 2014 Amortization expense related to in-place leases $ 28,902 $ 15,300 $ 4,133 Decrease of rental income related to above-market leases 4,403 2,596 530 Decrease of rental income related to leasehold interests 59 59 5 Increase of rental income related to below-market leases 1,835 643 156 Decrease of operating expense related to above market ground leases 24 16 4 Increase in operating expense related to below market ground leases 471 68 — For the twelve months ended December 31, 2016 , the Company wrote-off in-place lease intangible assets of approximately $2.3 million with accumulated amortization of approximately $1.0 million , resulting in the recognition of $1.3 million in additional amortization expense. In addition, the Company wrote-off above market lease intangible assets of approximately $0.7 million with accumulated amortization of approximately $0.5 million , and below market lease intangible liabilities of approximately $0.3 million with accumulated accretion of approximately $0.1 million , for a net recognition of approximately $17 thousand gain in rental income from intangible amortization. Future aggregate net amortization of the acquired lease intangibles as of December 31, 2016 , is as follows (in thousands): Net Decrease in Revenue Net Increase in Expenses 2017 $ (2,311 ) $ 30,305 2018 (2,217 ) 26,169 2019 (2,344 ) 21,803 2020 (2,434 ) 19,426 2021 (2,477 ) 17,999 Thereafter (9,422 ) 92,125 Total $ (21,205 ) $ 207,827 For the year ended December 31, 2016 , the weighted average amortization period for asset lease intangibles and liability lease intangibles are 18 years and 12 years, respectively. |
Other Assets
Other Assets | 12 Months Ended |
Dec. 31, 2016 | |
Other Assets, Unclassified [Abstract] | |
Other Assets | Other Assets Other assets consisted of the following as of December 31, 2016 and 2015 (in thousands): December 31, 2016 2015 Straight line rent receivable 32,018 15,584 Notes receivable 16,618 20,620 Interest rate swap 13,881 — Lease inducements, net 13,255 4,970 Prepaid expenses 8,928 4,181 Escrows 4,334 4,788 Leasing commissions, net 1,858 1,052 Earnest deposits 1,500 343 Other 2,795 1,745 Total $ 95,187 $ 53,283 |
Debt
Debt | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Debt | Debt The following is a summary of debt as of December 31, 2016 and 2015 (in thousands): December 31, 2016 2015 Fixed interest mortgage notes $ 90,185 (1) $ 89,664 (2) Variable interest mortgage note 33,009 (3) 4,262 (4) Total mortgage debt 123,194 93,926 $850 million unsecured revolving credit facility bearing variable interest of LIBOR plus 1.20%, due September 2020 401,000 395,000 $250 million unsecured term borrowing bearing fixed interest of 2.87%, due June 2023 250,000 (5) — $150 million senior unsecured notes bearing fixed interest of 4.03% to 4.74%, due January 2023 to 2031 150,000 — $75 million senior unsecured notes bearing fixed interest of 4.09% to 4.24%, due August 2025 to 2027 75,000 — Total principal 999,194 488,926 Unamortized deferred financing cost (8,477 ) (5,985 ) Unamortized fair value adjustment 438 674 Total debt $ 991,155 $ 483,615 (1) Fixed interest mortgage notes, bearing interest from 4.71% to 6.58% , with a weighted average interest rate of 5.44% , and due in 2017, 2018, 2019, 2020, 2021, 2022, and 2032 collateralized by 11 properties with a net book value of $156.7 million . (2) 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 $145.0 million . (3) Variable interest mortgage notes, bearing variable interest of LIBOR plus 2.25% to 3.25% , with a weighted average interest rate of 3.68% and due in 2017 and 2018, collateralized by four properties with a net book value of $45.6 million . (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 $5.9 million . (5) The Trust’s borrowings under the term loan feature of the Credit Agreement bear interest at a rate which is determined by the Trust’s credit rating, currently equal to LIBOR + 1.80% . The Trust has entered into a pay-fixed receive-variable interest rate swap, fixing the LIBOR component of this rate at 1.07% . On June 10, 2016, the Operating Partnership, as borrower, and the Trust entered into an amended and restated Credit Agreement with KeyBank National Association, as administrative agent, KeyBanc Capital Markets Inc., BMO Capital Markets, and Citizens Bank N.A., as joint lead arrangers and co-book runners, BMO Capital Markets and Citizens Bank N.A., as co-syndication agents, and the lenders party thereto (the “Credit Agreement”) which increased the maximum principal amount available under an unsecured revolving credit facility from $750 million to $850 million . The Credit Agreement contains a 7 -year term loan feature allowing the Operating Partnership to borrow in a single drawing up to $250 million , increasing the borrowing capacity to an aggregate $1.1 billion . The Credit Agreement also 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 $500 million , subject to customary terms and conditions, resulting in a maximum borrowing capacity of $1.6 billion . On July 7, 2016, the Operating Partnership borrowed $250.0 million under the 7 -year term loan feature of the Credit Agreement. Borrowings under the term loan feature of the Credit Agreement bear interest on the outstanding principal amount at a rate which is determined by the Trust’s credit rating, currently equal to LIBOR + 1.80% . The Trust simultaneously entered into a pay-fixed receive-variable rate swap for the full borrowing amount, fixing the LIBOR component of the borrowing rate to 1.07% , for an all-in fixed rate of 2.87% . Both the borrowing and pay-fixed receive-variable swap have a maturity date of June 10, 2023 . The Credit Agreement has a maturity date of September 18, 2020 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, 2016 , the Trust had an investment grade rating from Moody’s of Baa3 and as such, borrowings under the revolving credit facility of 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 revolving or swingline loan under the Credit Agreement in whole or in part without premium or penalty. Prepayments of term borrowings require payment of premiums of up to 2.0% of the amount of prepayment, dependent on the date of such prepayment. As of December 31, 2016 , the Trust was in compliance with all financial covenants. The Credit Agreement includes customary representations and warranties by the Trust and the Operating Partnership, and imposes customary covenants on the Operating Partnership and the Trust. 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 and term loans to the Trust and 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: Credit Rating Margin for Revolving Loans: Adjusted LIBOR Rate Loans and Letter of Credit Fee Margin for Revolving Loans: Base Rate Loans Margin for Term Loans: Adjusted LIBOR Rate Loans and Letter of Credit Fee Margin for Term Loans: Base Rate Loans At Least A- or A3 LIBOR + 0.85% — % LIBOR + 1.40% 0.40 % At Least BBB+ or BAA1 LIBOR + 0.90% — % LIBOR + 1.45% 0.45 % At Least BBB or BAA2 LIBOR + 1.00% 0.10 % LIBOR + 1.55% 0.55 % At Least BBB- or BAA3 LIBOR + 1.20% 0.20 % LIBOR + 1.80% 0.80 % Below BBB- or BAA3 LIBOR + 1.55% 0.60 % LIBOR + 2.25% 1.25 % As of December 31, 2016 , there were $401.0 million of borrowings outstanding under our unsecured revolving credit facility and $448.9 million available for us to borrow without adding additional properties to the unencumbered borrowing base of assets, as defined by the Credit Agreement. As of December 31, 2016 the Company had $250.0 million of borrowings outstanding under the term loan feature of the Credit Agreement. On January 7, 2016, the Operating Partnership issued and sold $150.0 million aggregate principal amount of senior notes, comprised of (i) $15.0 million aggregate principal amount of 4.03% Senior Notes, Series A, due January 7, 2023, (ii) $45.0 million aggregate principal amount of 4.43% Senior Notes, Series B, due January 7, 2026, (iii) $45.0 million aggregate principal amount of 4.57% Senior Notes, Series C, due January 7, 2028, and (iv) $45.0 million aggregate principal amount of 4.74% Senior Notes, Series D, due January 7, 2031. On August 11, 2016, the note agreement for these notes was amended to make certain changes to its terms, including certain changes to affirmative covenants, negative covenants and definitions contained therein. Interest on each respective series of the January 2016 Senior Notes is payable semi-annually. On August 11, 2016, the Operating Partnership issued and sold $75.0 million aggregate principal amount of senior notes, comprised of (i) $25.0 million aggregate principal amount of 4.09% Senior Notes, Series A, due August 11, 2025, (ii) $25.0 million aggregate principal amount of 4.18% Senior Notes, Series B, due August 11, 2026, and (iii) $25.0 million aggregate principal amount of 4.24% Senior Notes, Series C, due August 11, 2027. Interest on each respective series of the August 2016 Senior Notes is payable semi-annually. Certain properties have mortgage debt that contains financial covenants. As of December 31, 2016 , the Trust was in compliance with all mortgage debt financial covenants. Scheduled principal payments due on debt as of December 31, 2016 , are as follows (in thousands): 2017 $ 38,615 2018 39,855 2019 20,162 2020 406,603 2021 7,644 Thereafter 486,315 Total Payments $ 999,194 As of December 31, 2016 and 2015 , the Company had total consolidated indebtedness of approximately $999.2 million and $488.9 million , respectively. The weighted average interest rate on consolidated indebtedness was 3.09% as of December 31, 2016 (based on the 30-day LIBOR rate as of December 31, 2016 , of 0.72% ). The weighted average interest rate on consolidated indebtedness was 2.28% as of December 31, 2015 (based on the 30-day LIBOR rate as of December 31, 2015 , of 0.36% ). For the years ended December 31, 2016 and 2015 , the Company incurred interest expense on its debt of $21.5 million and $9.3 million, respectively. |
Derivatives
Derivatives | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Instrument Detail [Abstract] | |
Derivatives | Derivatives In the normal course of business, a variety of financial instruments are used to manage or hedge interest rate risk. The Company has implemented ASC 815, Derivatives and Hedging (ASC 815), which establishes accounting and reporting standards requiring that all derivatives, including certain derivative instruments embedded in other contracts, be recorded as either an asset or a liability measured at their fair value unless they qualify for a normal purchase or normal sales exception. When specific hedge accounting criteria are not met, ASC 815 requires that changes in a derivative’s fair value be recognized currently in earnings. Changes in the fair market values of the Company’s derivative instruments are recorded in the consolidated statements of income if such derivatives do not qualify for, or the Company does not elect to apply for, hedge accounting. If hedge accounting is applied to a derivative instrument, such changes are reported in accumulated other comprehensive income within the consolidated statement of equity, exclusive of ineffectiveness amounts, which are recognized as adjustments to net income. To manage interest rate risk for certain of its variable-rate debt, the Company uses interest rate swaps as part of its risk management strategy. These derivatives are designed to mitigate the risk of future interest rate increases by providing a fixed interest rate for a limited, pre-determined period of time. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. As of December 31, 2016 , the Company had five outstanding interest rate swap contracts that are designated as cash flow hedges of interest rate risk. For presentational purposes, they are shown as one derivative due to the identical nature of their economic terms. The effective portion of the change in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive income (“AOCI”) on the consolidated balance sheets and is subsequently reclassified into earnings as interest expense for the period that the hedged forecasted transaction affects earnings. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. For the twelve months ended December 31, 2016 , the Company recognized a $0.2 million gain as a result of hedge ineffectiveness. The Company expects hedge ineffectiveness to be insignificant in the next 12 months. The following table summarizes the location and aggregate fair value of the interest rate swaps on the Company’s consolidated balance sheets (in thousands): Total notional amount $ 250,000 Effective fixed interest rate (1) 2.87 % Effective date 7/7/2016 Maturity date 6/10/2023 Asset balance at December 31, 2016 (included in Other assets) $ 13,881 (1) 1.07% effective swap rate plus 1.80% spread per Credit Agreement. |
Accrued Expenses and Other Liab
Accrued Expenses and Other Liabilities | 12 Months Ended |
Dec. 31, 2016 | |
Other Liabilities Disclosure [Abstract] | |
Accrued Expenses and Other Liabilities | Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consisted of the following as of December 31, 2016 and 2015 (in thousands): December 31, 2016 2015 Real estate taxes payable $ 9,300 $ 2,349 Prepaid rent 5,834 2,778 Embedded derivative 5,571 8,149 Tenant improvement allowance 5,315 1,184 Accrued interest 4,905 22 Security deposits 4,506 4,038 Accrued incentive compensation 1,405 900 Contingent consideration 1,392 2,559 Accrued expenses and other 4,059 2,494 Total $ 42,287 $ 24,473 |
Stock-based Compensation
Stock-based Compensation | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-based Compensation | Stock-based Compensation The Company 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. Any Common Shares issued pursuant to the Company's incentive equity compensation and employee stock purchase plans will result in the Operating Partnership issuing OP Units to the Trust on a one-for-one basis, with the Operating Partnership receiving the net cash proceeds of such issuances. Certain of the Company’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 Company’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 Company 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. Restricted Common Shares: Restricted common shares granted under the 2013 Plan are eligible for dividends as well as the right to vote. 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 total value of $2.6 million were granted to Company employees with vesting periods ranging from one to three years. During 2016, the Trust granted a total of 155,306 restricted common shares with a total value of $2.8 million to the Company’s officers and certain of its employees, which have a one -year vesting period for officer award-recipients and a three -year vesting period for employee award-recipients. The following is summary of the status of the Trust’s non-vested restricted common shares during 2016 , 2015 , and 2014 : Common Shares Weighted Average Grant Date Fair Value 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 Granted 155,306 17.96 Vested (170,034 ) 14.16 Forfeited (326 ) 15.36 Non-vested at December 31, 2016 296,785 $ 16.16 For all service awards, the Company records compensation expense for the entire award on a straight-line basis over the requisite service period. For the years ended December 31, 2016 , 2015 , and 2014 the Company recognized non-cash share compensation of $3.6 million , $2.9 million , and $2.2 million , respectively. Unrecognized compensation expense at December 31, 2016 , 2015 , and 2014 was $1.2 million , $2.1 million , and $2.4 million , respectively. The Company’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 2016 and March 2015 , under the Trust’s 2013 Plan, the Trust granted (i) restricted share units at a target level of 104,553 and 75,250 , respectively, to the Trust’s officers, which are subject to certain performance and market conditions and a three year service period and (ii) 36,784 and 40,957 restricted share units, respectively, to the members of the Board of Trustees, which are subject to a two year vesting period. In March 2014 , under the Trust’s 2013 Plan, the Trust granted restricted share units at a target level of 55,680 to its officers, which are subject to certain performance and market conditions and a three -year service period. 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 2016 , 2015 , and 2014 vest based on certain market conditions. The market conditions were valued with the assistance of independent valuation specialists. The Company utilized a Monte Carlo simulation to calculate the weighted average grant date fair values in 2016 , 2015 , and 2014 of $28.50 , $20.06 , and $19.25 per unit, respectively, using the following assumptions: 2016 2015 2014 Volatility 20.3 % 20.7 % 18.8% - 34.2% Dividend assumption reinvested reinvested reinvested Expected term in years 2.8 years 2.8 years 2.8 years Risk-free rate 1.07 % 1.14 % 0.65 % Stock price (per share) $ 17.67 $ 15.87 $ 13.47 The remaining 20% of the restricted share units issued to officers in 2016 and 2015 vest based upon certain performance conditions. With respect to the performance conditions of the March 2016 grant, the grant date fair value of $17.67 per unit was based on the share price at the date of grant. The combined weighted average grant date fair value of the March 2016 restricted share units issued to officers is $26.33 per unit. With respect to the performance conditions of the March 2015 grant, the grant date fair value of $15.87 per unit was based on the share price at the date of grant. The combined weighted average grant date fair value of the March 2015 restricted share units issued to officers is $19.22 per unit. With respect to the performance conditions of the March 2014 grant, the grant date fair value of $13.47 per unit was based on the share price at the date of grant. The combined weighted average grant date fair value of the March 2014 restricted share units issued to officers is $16.94 per unit. The following is a summary of the activity in the Trust’s restricted share units during 2016 , 2015 , and 2014 : Executive Awards Trustee Awards Restricted Share Units Weighted Average Grant Date Fair Value Restricted Share Weighted Non-vested at December 31, 2013 — $ — — $ — Granted 55,680 16.94 — — Non-vested at December 31, 2014 55,680 16.94 — — Granted 75,250 19.22 40,957 15.87 Non-vested at December 31, 2015 130,930 18.48 40,957 15.87 Granted 104,553 26.33 36,784 17.67 Vested — — (20,481 ) 15.87 Non-vested at December 31, 2016 235,483 $ 21.84 57,260 $ 17.03 The Company recognized $2.1 million , $0.9 million , and $0.3 million of non-cash share unit compensation expense for the years ended December 31, 2016 , 2015 , and 2014 , respectively. Unrecognized compensation expense at December 31, 2016 , 2015 , and 2014 was $2.8 million, $1.6 million , and $0.7 million , respectively. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 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 Company 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 Company has six derivative instruments at December 31, 2016 , consisting of one embedded derivative as detailed in the Redeemable Noncontrolling Interests - Operating Partnership and Partially Owned Properties section of Note 2 (Summary of Significant Accounting Policies) and five interest rate swaps. For presentational purposes, the Company’s interest rate swaps are shown as a single derivative due to the identical nature of their economic terms, as detailed in the Derivative Instruments section of Note 2 (Summary of Significant Accounting Policies) and Note 7 (Derivatives) . Neither the embedded derivative nor the interest rate swaps are traded on an exchange. The Company’s derivative assets and 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 Company measures its derivatives at fair value on a recurring basis. The fair values are based on Level 2 inputs described above. The Company considers its own credit risk, as well as the credit risk of its counterparties, when evaluating the fair value of its derivatives. The Company 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, 2016 . 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 primarily on Level 2 inputs. The following table presents the fair value of the Company’s financial instruments (in thousands): December 31, 2016 2015 Carrying Amount Fair Value Carrying Amount Fair Value Assets: Real estate loans receivable $ 39,154 $ 39,154 $ 39,349 $ 39,349 Notes receivable $ 16,618 $ 16,618 $ 20,620 $ 20,620 Derivative assets $ 13,881 $ 13,881 $ — $ — Liabilities: Credit facility $ (651,000 ) $ (651,000 ) $ (395,000 ) $ (395,000 ) Notes payable $ (225,000 ) $ (214,584 ) $ — $ — Mortgage debt $ (123,632 ) $ (125,420 ) $ (94,600 ) $ (95,275 ) Derivative liabilities $ (5,571 ) $ (5,571 ) $ (8,216 ) $ (8,216 ) |
Tenant Operating Leases
Tenant Operating Leases | 12 Months Ended |
Dec. 31, 2016 | |
Leases [Abstract] | |
Tenant Operating Leases | Tenant Operating Leases The Company is lessor of medical office buildings and other healthcare facilities. Leases have expirations from 2017 through 2045 . As of December 31, 2016 , the future minimum rental payments on non-cancelable leases, exclusive of expense recoveries, were as follows (in thousands): 2017 $ 217,877 2018 213,420 2019 208,518 2020 203,403 2021 197,097 Thereafter 1,172,669 Total $ 2,212,984 |
Rent Expense
Rent Expense | 12 Months Ended |
Dec. 31, 2016 | |
Leases [Abstract] | |
Rent Expense | Rent Expense The Company leases the rights to parking structures at 3 of its properties, the air space above 1 property, and the land upon which 58 of its properties are located from third party land owners pursuant to separate leases. In addition, the Company leases 3 individual office spaces. The leases require fixed rental payments and may also include escalation clauses and renewal options. These leases have terms of up to 99 years remaining, excluding extension options. As of December 31, 2016 , the future minimum lease obligations under non-cancelable parking, air, ground, and office leases were as follows (in thousands): 2017 $ 2,408 2018 2,456 2019 2,475 2020 2,478 2021 2,536 Thereafter 67,233 Total $ 79,586 Rent expense for the parking, air, and ground leases of $1.9 million, $1.3 million and $0.9 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively, are reported in operating expenses in the consolidated statements of operations. Rent expense for office leases was insignificant for the years ended December 31, 2016 , 2015 , and 2014 , and is reported within general and administrative expenses in the consolidated statements of operations. |
Credit Concentration
Credit Concentration | 12 Months Ended |
Dec. 31, 2016 | |
Risks and Uncertainties [Abstract] | |
Credit Concentration | Credit Concentration The Company uses annualized base rent (“ABR”) as its credit concentration metric. A nnualized base rent is calculated by multiplying contractual base rent for the month ended December 31, 2016 by 12, excluding the impact of concessions and straight-line rent. The following table summarizes certain information about the Company’s top five tenant credit concentrations as of December 31, 2016 (in thousands): Tenant Total ABR Percent of ABR CHI - KentuckyOne Health $ 12,805 5.8 % CHI - Nebraska 9,275 4.2 % CHI - Franciscan (Seattle-Tacoma) 5,437 2.5 % CHI - St. Alexius (North Dakota) 5,278 2.4 % Great Falls Hospital 5,151 2.4 % Remaining portfolio 181,183 82.7 % Total 219,129 100.0 % Annualized base rent collected from the Company’s top five tenant relationships comprises 17.3% of its total annualized base rent for the period ending December 31, 2016 . Total annualized base rent from CHI affiliated tenants totals 17.4% , including the affiliates disclosed above. Consolidated financial statements of CHI, the parent of the subsidiaries and affiliates of the entities party to master lease agreements, are publicly available on the Catholic Health Initiatives website (http://www.catholichealthinitiatives.org/). Information included on the CHI website is not incorporated by reference within this Annual Report on Form 10-K. The following table summarizes certain information about the Company’s top five geographic concentrations as of December 31, 2016 (in thousands): State Total ABR Percent of ABR Texas $ 26,603 12.1 % Kentucky 15,459 7.0 % Arizona 14,161 6.5 % Indiana 12,848 5.9 % Ohio 12,822 5.9 % Other 137,236 62.6 % Total 219,129 100.0 % |
Earnings Per Share and Earnings
Earnings Per Share and Earnings Per Unit | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share and Earnings Per Unit | Earnings Per Share and Earnings Per Unit 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, 2016 2015 2014 Numerator for earnings per share - basic: Net income (loss) $ 31,522 $ 12,741 $ (4,418 ) Net (income) loss attributable to noncontrolling interests: Operating Partnership (825 ) (576 ) 695 Partially owned properties (716 ) (377 ) (314 ) Preferred distributions (1,857 ) (1,189 ) — Numerator for earnings per share - basic: $ 28,124 $ 10,599 $ (4,037 ) Numerator for earnings per share - diluted: Numerator for earnings per share - basic: 28,124 10,599 (4,037 ) Operating Partnership net income 825 576 — Numerator for earnings per share - diluted $ 28,949 $ 11,175 $ (4,037 ) Denominator for earnings per share - basic and diluted: Weighted average number of shares outstanding - basic 126,143,114 72,750,724 33,063,093 Effect of dilutive securities: Noncontrolling interest - Operating Partnership units 3,692,095 3,708,494 — Restricted shares 205,036 190,619 — Restricted share units 426,648 142,236 — Denominator for earnings per share - diluted 130,466,893 76,792,073 33,063,093 Earnings per share - basic $ 0.22 $ 0.15 $ (0.12 ) Earnings per share - diluted $ 0.22 $ 0.15 $ (0.12 ) The following table shows the amounts used in computing the Operating Partnership’s basic and diluted earnings per unit (in thousands, except unit and per unit data): Year Ended December 31, 2016 2015 2014 Numerator for earnings per unit - basic and diluted: Net income (loss) 31,522 12,741 (4,418 ) Net (income) loss attributable to noncontrolling interests - partially owned properties (716 ) (377 ) (314 ) Preferred distributions (1,857 ) (1,189 ) — Numerator for earnings per unit - basic and diluted $ 28,949 $ 11,175 $ (4,732 ) Denominator for earnings per unit - basic and diluted: Weighted average number of units outstanding - basic 129,835,209 76,459,218 36,881,712 Effect of dilutive securities: Restricted shares 205,036 190,619 — Restricted share units 426,648 142,236 — Denominator for earnings per unit - diluted 130,466,893 76,792,073 36,881,712 Earnings per unit - basic $ 0.22 $ 0.15 $ (0.12 ) Earnings per unit - diluted $ 0.22 $ 0.15 $ (0.12 ) |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events Since January 1, 2017 , the Trust, through subsidiaries of its Operating Partnership, has completed acquisitions of 4 healthcare properties for an aggregate purchase price of $109.5 million containing an aggregate of 238,312 net leasable square feet. In addition, the Operating Partnership funded an aggregate $2.3 million of loans through 2 separate transactions, resulting in aggregate investment activity of $111.8 million . Property acquisitions are summarized below: Property(1) Location Acquisition Investment (in thousands) Orthopedic Associates MOB Flower Mound, TX January 5, 2017 $ 18,800 Medical Arts Center at Hartford Plainville, CT January 11, 2017 30,300 CareMount Portfolio (2 MOBs) Lake Katrine / Rhinebeck, NY February 14, 2017 60,400 $ 109,500 (1) “MOB” means medical office building. On January 3, 2017, the Operating Partnership entered into a purchase and sale agreement to sell 4 properties in Georgia, representing an aggregate 80,292 square feet, for $18.2 million . On January 12, 2017, 91,236 Series A Preferred Units issued in conjunction with the Nashville MOB acquisition were redeemed for a total value of $20.0 million . On January 31, 2017, the Operating Partnership redeemed the minority interest in a joint venture between the Operating Partnership and Medical Center of New Albany I, LLC, an Ohio limited liability company. As consideration, the Operating Partnership paid approximately $2.1 million in cash and issued 38,641 OP Units, representing an aggregate $2.8 million . |
Quarterly Data
Quarterly Data | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Data | Quarterly Data Physicians Realty Trust 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 2016 March 31 June 30 September 30 December 31 Total revenues $ 44,134 $ 53,216 $ 70,010 $ 73,674 Operating income 5,392 7,158 10,267 8,590 Net income 5,424 7,184 10,294 8,620 Net income attributable to common shareholders 4,386 6,486 9,427 7,825 Earnings per share – basic: Net income available to common shareholders $ 0.04 $ 0.05 $ 0.07 $ 0.06 Weighted average number of shares outstanding 102,704,008 131,481,329 134,608,396 135,581,976 Earnings per share – diluted: Net income available to common shareholders $ 0.04 $ 0.05 $ 0.07 $ 0.06 Weighted average number of shares outstanding 107,148,380 135,944,722 138,880,787 139,602,349 As a result of the acquisition activity and equity offerings throughout 2016 and 2015 , the quarterly periods are not comparable quarter over quarter. 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 available 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 number of shares outstanding 65,649,478 70,376,959 71,034,747 83,761,536 Earnings per share - diluted: Net (loss) income available to common shareholders $ (0.01 ) $ 0.04 $ 0.05 $ 0.06 Weighted average number of shares outstanding 65,649,478 74,267,284 75,104,821 87,911,097 Physicians Realty L.P. The following unaudited quarterly data has been prepared on the basis of a December 31 year-end. Amounts are in thousands, except for common unit and per unit amounts. Quarter Ended 2016 March 31 June 30 September 30 December 31 Total revenues $ 44,134 $ 53,216 $ 70,010 $ 73,674 Operating income 5,392 7,158 10,267 8,590 Net income 5,424 7,184 10,294 8,620 Net income attributable to common unitholders 4,559 6,687 9,682 8,021 Earnings per unit – basic: Net income available to common unitholders $ 0.04 $ 0.05 $ 0.07 $ 0.06 Weighted average number of units outstanding 106,550,467 135,351,672 138,227,384 139,018,183 Earnings per unit – diluted: Net income available to common unitholders $ 0.04 $ 0.05 $ 0.07 $ 0.06 Weighted average number of units outstanding 107,148,380 135,944,722 138,880,787 139,602,249 As a result of the acquisition activity and equity offerings throughout 2016 and 2015 , the quarterly periods are not comparable quarter over quarter. Quarter Ended 2015 March 31 June 30 September 30 December 31 Total revenues $ 24,484 $ 29,683 $ 34,870 $ 40,404 Operating income (459 ) 3,271 3,812 5,883 Net income (448 ) 3,297 3,983 5,909 Net income attributable to common unitholders (546 ) 2,728 3,604 5,389 Earnings per unit – basic: Net income available to common unitholders $ (0.01 ) $ 0.04 $ 0.05 $ 0.06 Weighted average number of units outstanding 69,146,712 74,075,323 74,864,677 87,565,282 Earnings per unit – diluted: Net income available to common unitholders $ (0.01 ) $ 0.04 $ 0.05 $ 0.06 Weighted average number of units outstanding 69,146,712 74,267,284 75,104,821 87,911,097 As further described in Part I, “Explanatory Note,” to this report, in lieu of filing Quarterly Reports on Form 10-Q for the quarterly periods in fiscal 2016 and fiscal 2015, quarterly financial data for those periods is included in this report in the tables below. This data should be read in conjunction with the Operating Partnership’s audited consolidated financial statements and notes thereto included in this report and the Trust’s Quarterly Reports on Form 10-Q for the quarterly periods in fiscal 2016 and fiscal 2015. |
SCHEDULE III - REAL ESTATE AND
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION | 12 Months Ended |
Dec. 31, 2016 | |
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 $ 644 $ 740 $ 3,195 $ 3,935 $ (492 ) 2004 5/31/2008 46 Aurora Medical Office Building Green Bay, WI — 500 1,566 — 500 1,566 2,066 (211 ) 2010 4/15/2010 50 Austell Medical Office Building Atlanta, GA — 289 1,992 338 289 2,330 2,619 (570 ) 1971 6/30/2008 36 Canton Medical Office Building Atlanta, GA 5,986 710 7,225 191 710 7,416 8,126 (2,342 ) 1994 5/25/2007 30 Decatur Medical Office Building Atlanta, GA — 740 2,604 44 740 2,648 3,388 (870 ) 1974 10/12/2007 28 El Paso Medical Office Building El Paso, TX — 860 2,866 369 860 3,235 4,095 (1,637 ) 1987 8/24/2006 21 Farmington Professional Pavilion Detroit, MI — 580 1,793 132 580 1,925 2,505 (1,339 ) 1972 1/5/2006 15 Firehouse Square Milwaukee, WI 2,628 1,120 2,768 — 1,120 2,768 3,888 (869 ) 2002 8/15/2007 30 Hackley Medical Center Grand Rapids, MI 5,172 1,840 6,402 64 1,840 6,466 8,306 (2,144 ) 1968 12/22/2006 30 MeadowView Professional Center Kingsport, TN 10,030 2,270 11,344 — 2,270 11,344 13,614 (3,677 ) 2005 5/10/2007 30 Mid Coast Hospital Medical Office Building Portland, ME 7,385 — 11,247 47 — 11,294 11,294 (3,230 ) 2008 5/1/2008 42 New Albany Professional Building Columbus, OH — 237 2,767 571 237 3,338 3,575 (666 ) 2000 1/4/2008 42 Northpark Trail Atlanta, GA — 839 1,245 234 839 1,479 2,318 (625 ) 2001 12/28/2005 35 Remington Medical Commons Chicago, IL 4,123 895 6,499 318 895 6,817 7,712 (1,975 ) 2008 6/1/2008 30 Summit Healthplex Atlanta, GA — 2,633 15,576 5,516 2,633 21,092 23,725 (4,889 ) 2002 7/3/2008 44 Valley West Hospital Medical Office Building Chicago, IL 4,653 — 6,275 611 — 6,886 6,886 (2,103 ) 2007 11/1/2007 30 East El Paso Medical Office Building El Paso, TX — 710 4,500 — 710 4,500 5,210 (429 ) 2004 8/30/2013 35 East El Paso Surgical Hospital El Paso, TX — 3,070 23,627 — 3,070 23,627 26,697 (2,188 ) 2004 8/30/2013 36 LifeCare Plano LTACH Plano, TX — 3,370 11,689 455 3,370 12,144 15,514 (1,618 ) 1987 9/18/2013 25 Crescent City Surgical Centre New Orleans, LA 18,750 — 34,208 — — 34,208 34,208 (2,316 ) 2010 9/30/2013 48 Foundation Surgical Affiliates Medical Office Building Oklahoma City, OK 7,292 1,300 12,724 — 1,300 12,724 14,024 (962 ) 2004 9/30/2013 43 Pensacola Medical Office Building Pensacola, FL — 990 5,005 16 990 5,021 6,011 (332 ) 2012 10/4/2013 49 Central Ohio Neurosurgical Surgeons Medical Office Columbus, OH — 981 7,620 — 981 7,620 8,601 (534 ) 2007 11/27/2013 44 Great Falls Ambulatory Surgery Center Great Falls, MT — 203 3,224 21 203 3,245 3,448 (299 ) 1999 12/11/2013 33 Eagles Landing Family Practice Medical Office Building McDonough, GA — 800 3,345 1,548 800 4,893 5,693 (393 ) 2007 2/19/2014 36 Eagles Landing Family Practice Medical Office Building Jackson, GA — 800 3,345 1,255 800 4,600 5,400 (351 ) 2006 2/19/2014 38 Eagles Landing Family Practice Medical Office Building Conyers, GA — 1,000 3,345 — 1,000 3,345 4,345 (266 ) 2008 2/19/2014 37 Eagles Landing Family Practice Medical Office Building McDonough, GA — 400 3,345 1,741 400 5,086 5,486 (393 ) 2010 2/19/2014 37 Foundation San Antonio Surgical Hospital San Antonio, TX 8,425 2,230 23,346 43 2,230 23,389 25,619 (2,157 ) 2007 2/19/2014 35 21st Century Radiation Oncology Centers — Sarasota Sarasota, FL — 633 6,557 — 633 6,557 7,190 (716 ) 1975 2/26/2014 27 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 - Venice Venice, FL — 814 2,952 — 814 2,952 3,766 (269 ) 1987 2/26/2014 35 21st Century Radiation Oncology Centers - Engelwood Engelwood, FL — 350 1,878 — 350 1,878 2,228 (154 ) 1992 2/26/2014 38 21st Century Radiation Oncology Centers — Port Charlotte Port Charlotte, FL — 269 2,326 — 269 2,326 2,595 (193 ) 1996 2/26/2014 36 Foundation San Antonio Healthplex San Antonio, TX — 911 4,189 — 911 4,189 5,100 (355 ) 2007 2/28/2014 35 Peachtree Dunwoody Medical Center Atlanta, GA — 6,046 27,435 1,022 6,046 28,457 34,503 (3,216 ) 1987 2/28/2014 25 LifeCare LTACH — Fort Worth Fort Worth, TX — 2,730 24,639 — 2,730 24,639 27,369 (2,319 ) 1985 3/28/2014 30 LifeCare LTACH — Pittsburgh Pittsburgh, PA — 1,142 11,737 — 1,142 11,737 12,879 (1,155 ) 1987 3/28/2014 30 PinnacleHealth Medical Office Building Harrisburg, PA — 795 4,601 — 795 4,601 5,396 (531 ) 1990 4/22/2014 25 Pinnacle Health Medical Office Building Carlisle, PA — 424 2,232 — 424 2,232 2,656 (185 ) 2002 4/22/2014 35 South Bend Orthopaedics Medical Office Building Mishawaka, IN — 2,418 11,355 — 2,418 11,355 13,773 (869 ) 2007 4/30/2014 40 Grenada Medical Complex Grenada, MS — 185 5,820 89 185 5,909 6,094 (620 ) 1975 4/30/2014 30 Mississippi Ortho Medical Office Building Jackson, MS — 1,272 14,177 626 1,272 14,803 16,075 (1,182 ) 1987 5/23/2014 35 Carmel Medical Pavilion Carmel, IN — — 3,917 — — 3,917 3,917 (428 ) 1993 5/28/2014 25 Renaissance Ambulatory Surgery Center Oshkosh, WI — 228 7,658 8 228 7,666 7,894 (496 ) 2007 6/30/2014 40 Presbyterian Medical Plaza Monroe, NC — 1,195 5,681 6 1,195 5,687 6,882 (338 ) 2008 6/30/2014 45 Summit Urology Bloomington, IN — 125 4,792 — 125 4,792 4,917 (409 ) 1996 6/30/2014 30 500 Landmark Bloomington, IN — 627 3,549 — 627 3,549 4,176 (264 ) 2000 7/1/2014 35 550 Landmark Bloomington, IN — 2,717 15,224 — 2,717 15,224 17,941 (1,133 ) 2000 7/1/2014 35 574 Landmark Bloomington, IN — 418 1,493 — 418 1,493 1,911 (114 ) 2004 7/1/2014 35 Carlisle II MOB Carlisle, PA — 412 3,962 — 412 3,962 4,374 (224 ) 1996 7/25/2014 45 Surgical Institute of Monroe Monroe, MI — 410 5,743 — 410 5,743 6,153 (466 ) 2010 7/28/2014 35 The Oaks Lady Lake Lady Lake, FL — 1,065 8,642 — 1,065 8,642 9,707 (502 ) 2011 7/31/2014 42 Mansfield ASC Mansfield, TX — 1,491 6,471 — 1,491 6,471 7,962 (362 ) 2010 9/2/2014 46 Eye Center of Southern Indiana Bloomington, IN — 910 11,477 — 910 11,477 12,387 (793 ) 1995 9/5/2014 35 Wayne State Troy, MI — 3,560 43,052 — 3,560 43,052 46,612 (2,745 ) 1986 9/10/2014 38 Zangmeister Columbus, OH — 1,610 31,120 — 1,610 31,120 32,730 (1,831 ) 2007 9/30/2014 40 Ortho One - Columbus Columbus, OH — — 16,234 7 — 16,241 16,241 (906 ) 2009 9/30/2014 45 Ortho One - Westerville Columbus, OH — 362 3,944 — 362 3,944 4,306 (227 ) 2007 9/30/2014 43 Berger Medical Center Columbus, OH — — 5,950 — — 5,950 5,950 (388 ) 2007 9/30/2014 38 El Paso - Lee Trevino El Paso, TX — 2,294 11,316 396 2,294 11,712 14,006 (931 ) 1983 9/30/2014 30 El Paso - Murchison El Paso, TX — 2,283 24,543 974 2,283 25,517 27,800 (1,942 ) 1970 9/30/2014 30 El Paso - Kenworthy El Paso, TX — 728 2,178 21 728 2,199 2,927 (157 ) 1983 9/30/2014 35 Pinnacle - 32 Northeast Harrisburg, PA — 408 3,232 27 408 3,259 3,667 (239 ) 1994 10/29/2014 33 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 - 4518 Union Deposit Harrisburg, PA — 617 7,305 15 617 7,320 7,937 (549 ) 2000 10/29/2014 31 Pinnacle - 4520 Union Deposit Harrisburg, PA — 169 2,055 — 169 2,055 2,224 (167 ) 1997 10/29/2014 28 Pinnacle - 240 Grandview Harrisburg, PA — 321 4,242 — 321 4,242 4,563 (281 ) 1980 10/29/2014 35 Pinnacle - Market Place Way Harrisburg, PA — 808 2,383 6 808 2,389 3,197 (214 ) 2004 10/29/2014 35 CRHS - 2000 10th Avenue Columbus, GA — 380 2,737 — 380 2,737 3,117 (291 ) 1989 11/20/2014 22 CRHS - 1942 North Avenue Columbus, GA — 91 273 — 91 273 364 (49 ) 1971 11/20/2014 12 CRHS - 920 18th Street Columbus, GA — 110 281 — 110 281 391 (77 ) 1982 11/20/2014 8 CRHS - 1900 10th Avenue Columbus, GA — 474 5,580 124 474 5,704 6,178 (492 ) 1976 11/20/2014 26 CRHS - 1800 10th Avenue Columbus, GA — 539 5,238 — 539 5,238 5,777 (415 ) 1980 11/20/2014 28 CRHS - 705 17th Street Columbus, GA — 372 2,346 278 372 2,624 2,996 (386 ) 1994 11/20/2014 15 CRHS - 615 19th Street Columbus, GA — 75 113 — 75 113 188 (74 ) 1976 11/20/2014 3 CRHS - 1968 North Avenue Columbus, GA — 89 32 — 89 32 121 (18 ) 1966 11/20/2014 4 CRHS - 633 19th Street Columbus, GA — 99 255 — 99 255 354 (63 ) 1972 11/20/2014 9 CRHS - 500 18th Street Columbus, GA — 430 170 7 430 177 607 (75 ) 1982 11/20/2014 8 CRHS - 2200 Hamilton Road Columbus, GA — 267 1,579 22 267 1,601 1,868 (165 ) 1992 11/20/2014 22 CRHS - 1810 Stadium Drive Phenix City, AL — 202 149 26 202 175 377 (62 ) 1999 11/20/2014 30 Carle Danville MOB Danville, IL — 607 7,136 — 607 7,136 7,743 (482 ) 2007 11/26/2014 33 Middletown Medical - 111 Maltese Middletown, NY — 670 9,921 37 670 9,958 10,628 (614 ) 1988 11/28/2014 35 Middletown Medical - 2 Edgewater Middletown, NY — 200 2,966 11 200 2,977 3,177 (184 ) 1992 11/28/2014 35 Napoleon Medical Office Building New Orleans, LA — 1,202 7,412 387 1,202 7,799 9,001 (645 ) 1974 12/19/2014 25 West TN Bone & Joint - Physicians Drive Jackson, TN — 1,661 2,960 — 1,661 2,960 4,621 (180 ) 1991 12/30/2014 35 West TN Bone & Joint Jackson, TN — 1,250 5,210 — 1,250 5,210 6,460 (362 ) 1996 12/30/2014 31 Edina MOB Edina MN — 504 10,006 862 504 10,868 11,372 (1,086 ) 1979 1/22/2015 24 Crystal MOB Crystal, MN — 945 11,862 — 945 11,862 12,807 (577 ) 2012 1/22/2015 47 Savage MOB Savage, MN 5,605 1,281 10,021 — 1,281 10,021 11,302 (506 ) 2011 1/22/2015 48 Dell Road MOB Chanhassen, MN — 800 4,520 — 800 4,520 5,320 (250 ) 2008 1/22/2015 43 Columbus MOB Columbus, GA — 845 2,708 — 845 2,708 3,553 (309 ) 1980 1/23/2015 22 Methodist Sports MOB Greenwood, IN — 1,050 8,556 — 1,050 8,556 9,606 (522 ) 2008 1/28/2015 33 Vadnais Heights MOB Vadnais Heights, MN — 2,751 12,233 — 2,751 12,233 14,984 (702 ) 2013 1/29/2015 43 Minnetonka MOB Minnetonka, MN — 1,770 19,797 — 1,770 19,797 21,567 (957 ) 2014 2/5/2015 49 Jamestown MOB Jamestown, ND — 656 9,440 — 656 9,440 10,096 (562 ) 2013 2/5/2015 43 Indiana American II Greenwood, IN — 862 6,901 126 862 7,027 7,889 (388 ) 2008 2/13/2015 38 Indiana American III Greenwood, IN — 741 1,846 185 741 2,031 2,772 (209 ) 2001 2/13/2015 31 Indiana American IV Greenwood, IN — 771 1,928 77 771 2,005 2,776 (132 ) 2001 2/13/2015 31 Southpointe Indianapolis, IN — 563 1,741 — 563 1,741 2,304 (162 ) 1993 2/13/2015 27 Minnesota Eye MOB Minnetonka, MN — 1,143 7,470 — 1,143 7,470 8,613 (383 ) 2014 2/17/2015 44 Baylor Cancer Center Dallas, TX — 855 6,007 19 855 6,026 6,881 (275 ) 2001 2/27/2015 43 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 Bridgeport Medical Center Lakewood, WA — 1,397 10,435 — 1,397 10,435 11,832 (581 ) 2004 2/27/2015 35 Renaissance Office Building Milwaukee, WI — 1,379 4,182 2,314 1,379 6,496 7,875 (614 ) 1896 3/27/2015 15 Calkins 125 Rochester, NY — 534 10,164 11 534 10,175 10,709 (735 ) 1997 3/31/2015 32 Calkins 200 Rochester, NY — 210 3,317 — 210 3,317 3,527 (206 ) 2000 3/31/2015 38 Calkins 300 Rochester, NY — 372 6,645 — 372 6,645 7,017 (414 ) 2002 3/31/2015 39 Calkins 400 Rochester, NY — 353 8,226 8 353 8,234 8,587 (549 ) 2007 3/31/2015 39 Calkins 500 Rochester, NY — 282 7,074 11 282 7,085 7,367 (374 ) 2008 3/31/2015 41 Avalon Park Florida Hospital MOB Avalon Park, FL — 1,041 10,685 — 1,041 10,685 11,726 (497 ) 2009 3/31/2015 41 Premier Surgery Center of Louisville Louisville, KY — 1,106 5,437 — 1,106 5,437 6,543 (238 ) 2013 4/10/2015 43 Baton Rouge MOB Baton Rouge, LA — 711 7,720 — 711 7,720 8,431 (404 ) 2003 4/15/2015 35 Healthpark Medical Center Grand Blanc, MI — — 17,624 — — 17,624 17,624 (896 ) 2006 4/30/2015 36 Plaza HCA MOB Jacksonville, FL 11,645 1,112 12,553 — 1,112 12,553 13,665 (564 ) 2007 4/30/2015 39 Northern Ohio Medical Center Sheffield, OH — 644 9,162 — 644 9,162 9,806 (751 ) 1999 5/28/2015 20 University of Michigan - Northville MOB Livonia, MI — 2,200 8,627 150 2,200 8,777 10,977 (490 ) 1988 5/29/2015 30 Coon Rapids Medical Center MOB Coon Rapids, MN — 607 5,857 — 607 5,857 6,464 (287 ) 2007 6/1/2015 35 Premier Landmark MOB Bloomington, IN — 872 10,537 — 872 10,537 11,409 (447 ) 2008 6/5/2015 39 Palm Beach ASC Palm Beach, FL — 2,576 7,675 — 2,576 7,675 10,251 (304 ) 2003 6/26/2015 40 Brookstone Physician Center MOB Jacksonville, AL — — 1,913 — — 1,913 1,913 (100 ) 2007 6/30/2015 31 Jackson Woman's Clinic MOB Jackson, TN — 555 3,800 10 555 3,810 4,365 (175 ) 1998 6/30/2015 35 Hillside Medical Center MOB Hanover, PA — 812 13,217 23 812 13,240 14,052 (534 ) 2003 6/30/2015 35 Randall Road MOB Elgin, IL — 1,124 15,404 486 1,124 15,890 17,014 (610 ) 2006 6/30/2015 38 Medical Specialists of Palm Beach MOB Atlantis, FL — — 7,560 6 — 7,566 7,566 (317 ) 2002 7/24/2015 37 OhioHealth - SW Health Center MOB Grove City, OH — 1,363 8,516 — 1,363 8,516 9,879 (373 ) 2001 7/31/2015 37 Trios Health MOB Kennewick, WA — — 55,178 3,795 — 58,973 58,973 (1,822 ) 2015 7/31/2015 45 IMS - Paradise Valley MOB Phoenix, AZ — — 25,893 — — 25,893 25,893 (960 ) 2004 8/14/2015 43 IMS - Avondale MOB Avondale, AZ — 1,818 18,108 10 1,818 18,118 19,936 (583 ) 2006 8/19/2015 45 IMS - Palm Valley MOB Goodyear, AZ — 2,666 28,655 — 2,666 28,655 31,321 (962 ) 2006 8/19/2015 43 IMS - North Mountain MOB Phoenix, AZ — — 42,877 18 — 42,895 42,895 (1,341 ) 2008 8/31/2015 47 Memorial Hermann - Phase I Katy, TX — 822 6,797 19 822 6,816 7,638 (250 ) 2005 9/1/2015 39 Memorial Hermann - Phase II Katy, TX — 1,560 25,601 17 1,560 25,618 27,178 (899 ) 2006 9/1/2015 40 New Albany Medical Center MOB New Albany, OH — 1,600 8,505 47 1,600 8,552 10,152 (347 ) 2005 9/9/2015 37 Fountain Hills Medical Campus MOB Fountain Hills, AZ — 2,593 7,635 — 2,593 7,635 10,228 (275 ) 1995 9/30/2015 39 Fairhope MOB Fairhope, AL — 640 5,227 14 640 5,241 5,881 (193 ) 2005 10/13/2015 38 Foley MOB Foley, AL — 365 732 — 365 732 1,097 (27 ) 1997 10/13/2015 40 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 Foley Venture Foley, AL — 420 1,118 — 420 1,118 1,538 (41 ) 2002 10/13/2015 38 North Okaloosa MOB Crestview, FL — 190 1,010 — 190 1,010 1,200 (34 ) 2005 10/13/2015 41 Commons on North Davis Pensacola, FL — 380 1,237 — 380 1,237 1,617 (42 ) 2009 10/13/2015 41 Sorrento Road Pensacola, FL — 170 894 — 170 894 1,064 (31 ) 2010 10/13/2015 41 Breakfast Point Medical Park Panama City, FL — — 817 — — 817 817 (26 ) 2012 10/13/2015 42 Panama City Beach Panama City, FL — — 739 — — 739 739 (23 ) 2012 10/13/2015 42 Perdido Medical Park Pensacola, FL — 100 1,147 — 100 1,147 1,247 (38 ) 2010 10/13/2015 41 Ft. Walton Beach Ft. Walton Beach, FL — 230 914 — 230 914 1,144 (35 ) 1979 10/13/2015 35 Panama City Panama City, FL — — 661 — — 661 661 (23 ) 2003 10/13/2015 38 Pensacola - Catalyst Pensacola, FL — 220 1,685 — 220 1,685 1,905 (58 ) 2001 10/13/2015 39 Arete Surgical Center Johnstown, CO — 399 6,667 — 399 6,667 7,066 (181 ) 2013 10/19/2015 45 Cambridge Professional Center MOB Waldorf, MD — 590 8,520 26 590 8,546 9,136 (315 ) 1999 10/30/2015 35 HonorHealth 44th Street MOB Phoenix, AZ — 515 3,884 — 515 3,884 4,399 (178 ) 1988 11/13/2015 28 Mercy Medical Center MOB Fenton, MO — 1,201 6,778 — 1,201 6,778 7,979 (202 ) 1999 12/1/2015 40 Nashville MOB Nashville, TN — 1,555 39,713 — 1,555 39,713 41,268 (883 ) 2015 12/17/2015 46 KSF Orthopaedic MOB Houston, TX — 530 3,712 — 530 3,712 4,242 (214 ) 1984 12/22/2015 19 Great Falls Clinic MOB Great Falls, MT — — 27,402 — — 27,402 27,402 (737 ) 2004 12/29/2015 40 Great Falls Hospital Great Falls, MT — — 25,262 — — 25,262 25,262 (661 ) 2015 1/25/2016 40 Monterey Medical Center ASC Stuart, FL — 380 5,064 — 380 5,064 5,444 (115 ) 2013 2/1/2016 42 Physicians Medical Plaza MOB Indianapolis, IN — — 6,703 — — 6,703 6,703 (197 ) 2004 2/1/2016 34 Park Nicollet Clinic Chanhassen, MN — 1,941 14,555 — 1,941 14,555 16,496 (363 ) 2005 2/8/2016 40 HEB Cancer Center Bedford, TX — — 11,839 — — 11,839 11,839 (218 ) 2014 2/12/2016 44 Riverview Medical Center Lancaster, OH — 1,313 10,243 63 1,313 10,306 11,619 (287 ) 1997 2/26/2016 33 St. Luke's Cornwall MOB Cornwall, NY 9,500 — 13,017 — — 13,017 13,017 (364 ) 2006 2/26/2016 35 HonorHealth Glendale Glendale, AZ — 1,770 8,089 — 1,770 8,089 9,859 (160 ) 2015 3/15/2016 45 Columbia MOB Hudson, NY 12,000 — 16,550 — — 16,550 16,550 (394 ) 2006 3/21/2016 35 St Vincent POB 1 Birmingham, AL — — 10,172 87 — 10,259 10,259 (530 ) 1975 3/23/2016 15 St Vincent POB 2 Birmingham, AL — 48 6,624 72 48 6,696 6,744 (358 ) 1988 3/23/2016 15 St Vincent POB 3 Birmingham, AL — 75 9,433 62 75 9,495 9,570 (300 ) 1992 3/23/2016 25 Emerson Medical Building Creve Coeur, MO — 1,590 9,853 13 1,590 9,866 11,456 (222 ) 1989 3/24/2016 35 Patient Partners Surgery Center Gallatin, TN — 203 3,376 — 203 3,376 3,579 (74 ) 2007 3/30/2016 40 Eye Associates of NM - Santa Fe Santa Fe, NM — 900 6,604 — 900 6,604 7,504 (166 ) 2002 3/31/2016 35 Eye Associates of NM - Albuquerque Albuquerque, NM — 1,020 7,832 — 1,020 7,832 8,852 (174 ) 2007 3/31/2016 40 Gardendale Surgery Center Gardendale, AL — 200 5,732 — 200 5,732 5,932 (107 ) 2011 4/11/2016 42 HealthEast - Curve Crest Stillwater, MN — 409 3,279 — 409 3,279 3,688 (63 ) 2011 4/14/2016 43 HealthEast - Victor Gardens Hugo, MN — 572 4,400 — 572 4,400 4,972 (89 ) 2008 4/14/2016 41 NOMS - Clyde Clyde, OH — 440 5,948 — 440 5,948 6,388 (96 ) 2015 5/10/2016 44 Blandford MOB Little Rock, AR — 203 2,386 — 203 2,386 2,589 (43 ) 1983 5/11/2016 40 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 Cardwell MOB Lufkin, TX — — 8,348 — — 8,348 8,348 (143 ) 1999 5/11/2016 42 Dacono Neighborhood Health Dacono, CO — 2,258 2,911 — 2,258 2,911 5,169 (69 ) 2014 5/11/2016 44 Franciscan Health Tacoma, WA — 711 9,096 65 711 9,161 9,872 (405 ) 1951 5/11/2016 15 Grand Island Specialty Clinic Grand Island, NE — 102 2,802 150 102 2,952 3,054 (53 ) 1978 5/11/2016 42 Hot Springs MOB Hot Springs Village, AR — 305 3,309 — 305 3,309 3,614 (82 ) 1988 5/11/2016 30 Jewish Medical Center East Louisville, KY — — 81,248 — — 81,248 81,248 (1,255 ) 2003 5/11/2016 45 Jewish Medical Center South MOB - 1 Shepherdsville, KY — — 15,861 — — 15,861 15,861 (311 ) 2005 5/11/2016 39 Jewish Medical Plaza I Louisville, KY — — 8,808 — — 8,808 8,808 (177 ) 1970 5/11/2016 35 Jewish Medical Plaza II Louisville, KY — — 5,216 — — 5,216 5,216 (234 ) 1964 5/11/2016 15 Jewish OCC Louisville, KY — — 35,703 — — 35,703 35,703 (705 ) 1985 5/11/2016 34 Lakeside Three Professional Center Omaha, NE — — 1,372 25 — 1,397 1,397 (35 ) 2006 5/11/2016 35 Lexington Surgery Center Lexington, KY — 1,229 18,914 — 1,229 18,914 20,143 (429 ) 2000 5/11/2016 30 Medical Arts Pavilion Lufkin, TX — — 6,215 5 — 6,220 6,220 (135 ) 2004 5/11/2016 33 Memorial Outpatient Center Lufkin, TX — — 4,808 — — 4,808 4,808 (82 ) 1990 5/11/2016 45 Midlands Two Professional Center Papillion, NE — — 587 8 — 595 595 (98 ) 1976 5/11/2016 5 Parkview MOB Little Rock, AR — 705 4,343 — 705 4,343 5,048 (91 ) 1988 5/11/2016 35 Peak One ASC Frisco, CO — — 5,763 — — 5,763 5,763 (95 ) 2006 5/11/2016 44 Physicians Medical Center Tacoma, WA — — 5,862 10 — 5,872 5,872 (148 ) 1977 5/11/2016 27 St. Alexius - Minot Medical Plaza Minot, ND — — 26,078 — — 26,078 26,078 (409 ) 2015 5/11/2016 49 St. Clare Medical Pavilion Lakewood, WA — — 9,005 — — 9,005 9,005 (214 ) 1989 5/11/2016 33 St. Joseph Medical Pavilion Tacoma, WA — — 11,497 — — 11,497 11,497 (235 ) 1989 5/11/2016 35 St. Joseph Office Park Lexington, KY — 3,722 12,675 373 3,722 13,048 16,770 (628 ) 1992 5/11/2016 14 St. Mary - Caritas Medical II Louisville, KY — — 5,587 — — 5,587 5,587 (113 ) 1979 5/11/2016 34 St. Mary - Caritas Medical III Louisville, KY — — 383 46 — 429 429 (102 ) 1974 5/11/2016 2 Thornton Neighborhood Health Thornton, CO — 1,609 2,287 — 1,609 2,287 3,896 (53 ) 2014 5/11/2016 43 Medical Village at Kissimmee Kissimmee, FL — 634 3,365 — 634 3,365 3,999 (55 ) 2006 5/26/2016 39 Medical Village at Leesburg Leesburg, FL — 802 3,047 — 802 3,047 3,849 (79 ) 1979 5/26/2016 25 St. Francis MOB Federal Way, WA — — 12,817 6 — 12,823 12,823 (226 ) 1987 6/2/2016 38 Children's Hospital MOB Milwaukee, WI — 476 4,897 — 476 4,897 5,373 (72 ) 2016 6/3/2016 45 Jewish Medical Center South MOB - 2 Shepherdsville, KY — 27 3,827 — 27 3,827 3,854 (56 ) 2006 6/8/2016 40 Good Samaritan North Annex Building Kearney, NE — — 2,734 — — 2,734 2,734 (44 ) 1984 6/28/2016 37 NE Heart Institute Medical Building Lincoln, NE — — 19,738 — — 19,738 19,738 (211 ) 2004 6/28/2016 47 St. Vincent West MOB Little Rock, AR — — 13,453 — — 13,453 13,453 (149 ) 2012 6/29/2016 49 Meridan MOB Englewood, CO — 1,608 15,774 — 1,608 15,774 17,382 (239 ) 2002 6/29/2016 38 St. Mary - Caritas Medical I Louisville, KY — — 8,774 — — 8,774 8,774 (178 ) 1991 6/29/2016 25 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 St. Alexius - Medical Arts Pavilion Bismarck, ND — — 12,902 — — 12,902 12,902 (208 ) 1974 6/29/2016 32 St. Alexius - Mandan Clinic Mandan, ND — 708 7,700 — 708 7,700 8,408 (99 ) 2014 6/29/2016 43 St. Alexius - Orthopaedic Center Bismarck, ND — — 13,881 — — 13,881 13,881 (188 ) 1997 6/29/2016 39 St. Alexius - Rehab Center Bismarck, ND — — 5,920 — — 5,920 5,920 (126 ) 1997 6/29/2016 25 St. Alexius - Tech & Ed Bismarck, ND — — 16,688 — — 16,688 16,688 (226 ) 2011 6/29/2016 38 Good Samaritan MOB Kearney, NE — — 24,154 — — 24,154 24,154 (272 ) 1999 6/29/2016 45 Lakeside Two Professional Building Omaha, NE — — 13,358 19 — 13,377 13,377 (177 ) 2000 6/29/2016 38 Lakeside Wellness Center Omaha, NE — — 10,177 — — 10,177 10,177 (132 ) 2000 6/29/2016 39 McAuley Center Omaha, NE — 1,427 17,020 — 1,427 17,020 18,447 (309 ) 1988 6/29/2016 30 Memorial Health Center Grand Island, NE — — 33,967 — — 33,967 33,967 (506 ) 1955 6/29/2016 35 Missionary Ridge MOB Chattanooga, TN — — 7,223 1 — 7,224 7,224 (363 ) 1976 6/29/2016 10 Pilot Medical Center Birmingham, AL — 1,419 14,528 — 1,419 14,528 15,947 (225 ) 2005 6/29/2016 35 St. Joseph Medical Clinic Tacoma, WA — — 16,427 — — 16,427 16,427 (275 ) 1991 6/30/2016 30 Woodlands Medical Arts Center The Woodlands, TX — — 19,168 5 — 19,173 19,173 (289 ) 2001 6/30/2016 35 FESC MOB Tacoma, WA — — 12,702 139 — 12,841 12,841 (275 ) 1980 6/30/2016 26 Prairie Care MOB Maplewood, MN — 525 3,099 — 525 3,099 3,624 (38 ) 2016 7/6/2016 45 Springwoods MOB Spring, TX — 3,821 14,830 50 3,821 14,880 18,701 (159 ) 2015 7/21/2016 44 Unity - ASC, Imaging & MOB West Lafayette, IN — 960 9,991 — 960 9,991 10,951 (126 ) 2001 8/8/2016 35 Unity - Medical Pavilion West Lafayette, IN — 1,070 12,454 — 1,070 12,454 13,524 (157 ) 2001 8/8/2016 35 Unity - Faith, Hope & Love West Lafayette, IN — 280 1,862 — 280 1,862 2,142 (24 ) 2001 8/8/2016 35 Unity - Immediate Care & OCC West Lafayette, IN — 300 1,833 — 300 1,833 2,133 (22 ) 2004 8/8/2016 37 Medical Village at Maitland Orlando, FL — 2,393 18,543 — 2,393 18,543 20,936 (153 ) 2006 8/23/2016 44 Tri-State Orthopaedics MOB Evansville, IN — 1,580 14,162 — 1,580 14,162 15,742 (138 ) 2004 8/30/2016 37 Maury Regional Healthcare MOB Spring Hill, TN — — 15,619 — — 15,619 15,619 (101 ) 2012 9/30/2016 41 Spring Ridge Medical Center Wyomissing, PA — 28 4,943 — 28 4,943 4,971 (35 ) 2002 9/30/2016 37 Doctors Community Hospital POB Lanham, MD — — 23,034 — — 23,034 23,034 (120 ) 2009 9/30/2016 48 Gig Harbor Medical Pavilion Gig Harbor, WA — — 4,791 — — 4,791 4,791 (54 ) 1991 9/30/2016 30 Midlands One Professional Center Papillion, NE — — 14,922 — — 14,922 14,922 (101 ) 2010 9/30/2016 37 N.W. Michigan Surgery Center Units #1, #2, & #4 Traverse City, MI — 2,748 30,005 — 2,748 30,005 32,753 (130 ) 2004 10/28/2016 40 Northeast Medical Center Fayetteville, NY — 3,899 25,564 — 3,899 25,564 29,463 (78 ) 1998 11/23/2016 33 North Medical Center Liverpool, NY — 1,232 18,680 — 1,232 18,680 19,912 (50 ) 1989 11/23/2016 35 Cincinnati Eye Institute Cincinnati, OH — 2,050 32,546 — 2,050 32,546 34,596 (162 ) 1985 11/23/2016 35 HonorHealth - Scottsdale MOB Scottsdale, AZ — — 4,288 — — 4,288 4,288 (10 ) 2000 12/2/2016 45 Fox Valley Hematology & Oncology Appleton, WI — 1,590 26,666 — 1,590 26,666 28,256 (52 ) 2015 12/8/2016 44 Gastrointestinal Associates MOB Powell, TN — 937 3,214 — 937 3,214 4,151 (10 ) 1965 12/9/2016 30 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 Northern Vision Eye Center Traverse City, MI — 490 2,132 — 490 2,132 2,622 (5 ) 2006 12/15/2016 35 Flower Mound MOB Flower Mound, TX — 1,945 8,312 — 1,945 8,312 10,257 (18 ) 2011 12/16/2016 43 Carrollton MOB Flower Mound, TX — 2,183 10,461 — 2,183 10,461 12,644 (24 ) 2002 12/16/2016 40 HonorHealth IRF Scottsdale, AZ 10,000 — 19,331 — — 19,331 19,331 — 2000 12/22/2016 42 $ 123,194 $ 189,760 $ 2,389,096 $ 27,680 $ 189,760 $ 2,416,776 $ 2,606,536 $ (118,609 ) The aggregate cost for federal income tax purposes of the real estate as of December 31, 2016 is $2.49 billion , with accumulated tax depreciation of $94.4 million . The cost, net of accumulated depreciation, is approximately $2.39 billion (unaudited). The cost capitalized subsequent to acquisitions is net of dispositions. The changes in total real estate for the years ended December 31, 2016 , 2015 , and 2014 are as follows (in thousands): Year Ended December 31, 2016 2015 2014 Balance as of the beginning of the year $ 1,424,894 $ 729,034 $ 224,730 Acquisitions 1,170,593 695,693 505,379 Additions 11,049 4,440 900 Impairment — — (1,750 ) Dispositions — (4,273 ) (225 ) Balance as of the end of the year $ 2,606,536 $ 1,424,894 $ 729,034 The changes in accumulated depreciation for the years ended December 31, 2016 , 2015 , and 2014 are as follows (in thousands): Year Ended December 31, 2016 2015 2014 Balance as of the beginning of the year $ 61,242 $ 32,772 $ 20,299 Depreciation 57,367 29,958 12,473 Dispositions — (1,488 ) — Balance as of the end of the year $ 118,609 $ 61,242 $ 32,772 |
Summary of Significant Accoun26
Summary of Significant Accounting Policies - (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | Principles of Consolidation GAAP requires us 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”). ASC 810 broadly defines a VIE as an entity in which either (i) the equity investors as a group, if any, lack the power through voting or similar rights to direct the activities of such entity that most significantly impact such entity’s economic performance or (ii) the equity investment at risk is insufficient to finance that entity’s activities without additional subordinated financial support. We identify the primary beneficiary of a VIE as the enterprise that has both of the following characteristics: (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 receive benefits of the VIE that could potentially be significant to the entity. We consolidate our investment in a VIE when we determine that we are the VIE’s primary beneficiary. We may change our 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. We perform this analysis on an ongoing basis. For property holding entities not determined to be VIEs, we consolidate such entities in which 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. |
Noncontrolling Interests | Noncontrolling Interests The Company 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 Company’s total shareholders’ equity, on the consolidated balance sheets. Operating Partnership: Net income or loss is allocated to noncontrolling interests (limited partners) 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. During the year ended December 31, 2016, the Operating Partnership partially funded one property acquisition by issuing an aggregate of 174,085 OP Units valued at approximately $2.9 million on the date of issuance. The acquisition had a total purchase price of approximately $8.5 million . In addition, the Operating Partnership funded the acquisition of the remaining non-controlling interest on a property by issuing an aggregate of 217,549 OP Units valued at approximately $4.0 million . Noncontrolling interests in the Company include OP Units held by the Predecessor’s prior investors and other investors. As of December 31, 2016 and 2015 , the Trust held a 97.5% and 95.7% interest in the Operating Partnership, respectively. As the sole general partner and the majority interest holder, the Trust consolidates the financial position and results of operations 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 investors other than the Trust as noncontrolling interests within equity in the consolidated balance sheet. Partially Owned Properties: The Trust and OP reflect noncontrolling interests in partially owned properties on the balance sheet for the portion of consolidated properties that are not wholly owned by the Company. The earnings or losses from those properties attributable to the noncontrolling interests are reflected as noncontrolling interests in partially owned properties in the consolidated statement of operations. Redeemable Noncontrolling Interests - Series A Preferred Units 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. The Series A Preferred Units were evaluated for embedded features that should be bifurcated and separately accounted for as a freestanding derivative. The Company determined that the Series A Preferred Units contained features that require bifurcation. The Company records the carrying amount of the redeemable noncontrolling interests, less the value of the embedded derivative, at the greater of the carrying value or redemption value. The fair value of the embedded derivative within the Series A Preferred Units is $5.6 million and is included in the consolidated balance sheets in accrued expenses and other liabilities. On February 5, 2015, the acquisition of the Minnetonka MOB was partially funded with the issuance of 44,685 Series A Preferred Units which were 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 were valued at $19.7 million . On April 1, 2016, the Series A Preferred Units issued in conjunction with the Minnetonka MOB acquisition were redeemed for a total value of $9.8 million . The fair value of the embedded derivative associated with the previously outstanding Series A Preferred Units was $2.7 million which was derecognized in the course of the redemption. 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 Dividends and distributions for the years ended December 31, 2016 , 2015 , and 2014 are as follows: Declaration Date Record Date Payment Date Cash Dividend per Share/Unit December 22, 2016 January 5, 2017 January 18, 2017 $ 0.225 September 26, 2016 October 6, 2016 October 18, 2016 $ 0.225 June 23, 2016 July 5, 2016 July 18, 2016 $ 0.225 March 18, 2016 April 1, 2016 April 18, 2016 $ 0.225 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 Our shareholders are entitled to reinvest all or a portion of any cash distribution on their shares of our common stock by participating in our Dividend Reinvestment and Share Purchase Plan (“DRIP”), subject to the terms of the plan. |
Tax Status of Dividends and Distributions [Policy Text Block] | Tax Status of Dividends and Distributions Our distributions of current and accumulated earnings and profits for U.S. federal income tax purposes generally are taxable to shareholders as ordinary income. Distributions in excess of these earnings and profits generally are treated as a non-taxable reduction of the shareholders’ basis in the shares to the extent thereof (non-dividend distributions) and thereafter as taxable gain. Any cash distributions received by an OP Unit holder in respect of its OP Units generally will not be taxable to such OP Unit holder for U.S. federal income tax purposes, to the extent that such distribution does not exceed the OP Unit holder’s basis in its OP Units. Any such distribution will instead reduce the OP Unit holder’s basis in its OP Units (and OP Unit holders will be subject to tax on the taxable income allocated to them by the Operating Partnership in respect of their OP Units when such income is earned by the Operating Partnership, with such income allocation increasing the OP Unit holders’ basis in their OP Units). |
Purchase of Investment Properties | Purchases 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 and intangible 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 Company 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 generally includes the assistance of a third party appraiser. The Company 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 Company 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 Company’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 plus the term of any renewal options that the lessee would be economically compelled to exercise. 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 to amortization expense 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, net of any required lease termination payments. The Company 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 Company approximates based on the rate it would expect to incur on a replacement instrument on the date of acquisition, and recognizes 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 Company 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 Company expenses transaction costs associated with acquisitions accounted for as business combinations in the period incurred. Purchases of Investment Properties |
Impairment of Intangible and Long-Lived Assets | Impairment of Intangible and Long-Lived Assets The Company 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 Company 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 Company 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 Company recognizes an impairment loss at the time it makes any such determination. If the Company 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 Company did not record impairment charges in the twelve months ended December 31, 2016 and 2015 . Impairment charges of $1.8 million were recorded in the year ended December 31, 2014 . |
Assets Held for Sale and Discontinued Operations | Assets Held for Sale and Discontinued Operations The Company may sell properties from time to time for various reasons, including favorable market conditions. The Company 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. No properties were classified as held for sale as of December 31, 2016 or 2015 , and dispositions during the years ended December 31, 2015 and 2014 did not qualify as discontinued operations. |
Investments in Unconsolidated Entities | Investments in Unconsolidated Entities The Company 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 Company’s share of the investee’s earnings or losses is included in its consolidated 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 Company 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 Company the land on which the Crescent City Surgical Centre is situated, for $1.3 million . During 2016, the Company completed the acquisition of a 43% limited liability company membership interest in Desert Cove MOB, LLC. The entity intends to purchase a Medical Office Building in Scottsdale, AZ with an anticipated purchase price of approximately $6.9 million. The purchase of the MOB will be completed with capital contributed to date by each respective member, as well as the obtaining of project financing of approximately $4.8 million. The Company’s initial investment in the joint venture was $0.9 million . |
Real Estate Loans Receivable | Real Estate Loans Receivable Real estate loans receivable consists of eight mezzanine loans and two term loans. Each mezzanine loan is collateralized by an ownership interest in the respective borrower, while the term loans are secured by equity interests in two medical office building developments. 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 Company’s consolidated statements 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 Company is subject to concentrations of credit risk as a result of its temporary cash investments. The Company places its temporary cash investments with high credit quality financial institutions in order to mitigate that risk. |
Escrow Reserves | Escrow Reserves The Company 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, 2016 and 2015 are $4.3 million and $4.8 million , respectively, which are included in other assets in the consolidated balance sheets. |
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 included as a component of other assets and are amortized on a straight-line basis over the terms of their respective agreements. Deferred financing costs are shown as a direct reduction from the related debt liability. 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. |
Derivative Instruments | Derivative Instruments When the Company has derivative instruments embedded in other contracts, it records them either as an asset or a liability measured at their fair value unless they qualify for a normal purchase or normal sales exception. When specific hedge accounting criteria are not met, changes in the Company’s derivative instruments’ fair value are recognized currently in earnings. Changes in the fair market values of the Company’s derivative instruments are recorded in the consolidated statements of income if the derivative instruments do not qualify for, or the Company does not elect to apply for, hedge accounting. If hedge accounting is applied to a derivative instrument, such changes are reported in accumulated other comprehensive income within the consolidated statement of equity, exclusive of ineffectiveness amounts, which are recognized as adjustments to net income. To manage interest rate risk for certain of its variable-rate debt, the Company uses interest rate swaps as part of its risk management strategy. These derivatives are designed to mitigate the risk of future interest rate increases by providing a fixed interest rate for a limited, pre-determined period of time. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. As of December 31, 2016 , the Company had five outstanding interest rate swap contracts that are designated as cash flow hedges of interest rate risk. For presentational purposes, they are shown as one derivative due to the identical nature of their economic terms. Further detail is provided in Note 7 (Derivatives) . The effective portion of the change in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive income (“AOCI”) on the consolidated balance sheets and is subsequently reclassified into earnings as interest expense for the period that the hedged forecasted transaction affects earnings. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. For the twelve months ended December 31, 2016 , the Company recognized a $0.2 million gain as a result of hedge ineffectiveness. The Company expects hedge ineffectiveness to be insignificant in the next 12 months. |
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 Company assesses the collectability of tenant receivables, including straight-line rent receivables, and defers recognition of revenue if collectability is not reasonably assured. The Company 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 Company will be unable to recover the full value of the receivable, the Company provides a reserve against the portion of the receivable that it estimates may not be recovered. At December 31, 2016 and 2015 , the allowance for doubtful accounts was $2.4 million and $0.1 million , respectively. |
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 $32.0 million and $15.6 million as of December 31, 2016 and 2015 , respectively. If the Company determines that collectability of straight-line rents is not reasonably assured, the Company 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 Company is generally the primary obligor with respect to real estate taxes and purchasing goods and services from third-party suppliers, has discretion in selecting the supplier, and bears the credit risk of tenant reimbursement. The Company 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 Company 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. As discussed in Note 1 (Organization and Business) , the Trust conducts substantially all of its operations through the Operating Partnership. As a partnership, the Operating Partnership generally is not liable for federal income taxes. The income and loss from the operations of the Operating Partnership is included in the tax returns of its partners, including the Trust, who are responsible for reporting their allocable share of the partnership income and loss. Accordingly, no provision for income taxes has been made on the accompanying consolidated financial statements. |
Management Estimates | Management Estimates The preparation of consolidated 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 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 Liabilities The Company records liabilities for contingent consideration (included in accrued expenses and other liabilities on its consolidated balance sheets) at fair value as of the acquisition date and reassesses 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 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 2014-09, 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. The Company anticipates that adoption of ASU 2014-09 will take place on January 1, 2018 via the modified retrospective approach. Under the full retrospective method, the standard would be applied retrospectively to all reporting periods represented on the financials statements. The modified retrospective approach applies the standard in the year of initial application and presents the cumulative effect of prior periods with an adjustment to beginning retained earnings, with no restatement of comparative periods. As leasing arrangements (which are excluded from ASU 2014-09) represent the primary source of revenue for the Company, the impact of adoption will be limited to the Company’s recognition and presentation of non-lease revenues. The Company continues to evaluate the impact of ASU 2014-09 to its consolidated financial statements. In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis . ASU 2015-02 requires entities to evaluate whether they should consolidate certain legal entities. Principally, the new consolidation standard modified the evaluation of whether limited partnerships and similar legal entities are variable interest entities ("VIE") or voting interest entities. The Company adopted ASU 2015-02 on January 1, 2016. Based on the Company’s review and subsequent analysis of the structure of the Company’s legal entities, the Company has concluded that the Operating Partnership is a VIE because the limited partners of the Operating Partnership do not have substantive kick-out or participating rights. The Trust is the general partner and controlling owner of approximately 97.5% of the Operating Partnership and will continue to consolidate the Operating Partnership under this new guidance. With respect to the Company’s investment in unconsolidated joint ventures, the new consolidation standard did not have an impact on previous consolidation conclusions. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs , which changes the presentation of debt issuance costs in financial statements. ASU 2015-03 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 2015-03 is effective for annual reporting periods beginning after December 15, 2016. Early adoption is permitted. The new guidance has been applied retrospectively to each prior period presented. The Company adopted ASU 2015-03 on January 1, 2016. As a result of the adoption of ASU 2015-03, the Company reclassified $6.0 million from net deferred costs to the related liabilities within the December 31, 2015 Consolidated Balance Sheet. 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. As a result of adopting ASU 2016-02, the Company will recognize all of its operating leases for which it is the lessee, including ground leases, on its consolidated balance sheets. The Company is evaluating the impact of the adoption of ASU 2016-02 on January 1, 2019 to its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting . This update simplifies several aspects of accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities, and classification on the statements of cash flows. ASU 2016-09 is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2016. The Company will adopt ASU 2016-09 on January 1, 2017. Adoption is not expected to have have a material impact to its consolidated financial statements. In January 2017, the FASB issued ASU 2017-01, Clarifying the Definition of a Business , that clarifies the framework for determining whether an integrated set of assets and activities meets the definition of a business. The revised framework establishes a screen for determining whether an integrated set of assets and activities is a business and narrows the definition of a business, which is expected to result in fewer transactions being accounted for as business combinations. Acquisitions of integrated sets of assets and activities that do not meet the definition of a business are accounted for as asset acquisitions. ASU 2017-01 will be effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2017. Early adoption is permitted. The Company is currently evaluating the impact of adopting ASU 2017-01 on its consolidated financial statements. |
Organization and Business - (Ta
Organization and Business - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Trust's common shares issuance and sale | During 2016, the Trust’s issuance and sale of common shares pursuant to the 2016 ATM Program is as follows (in thousands, except common shares and price): 2016 Common shares sold Weighted average price Net proceeds Quarterly period ended March 31 — $ — $ — Quarterly period ended June 30 — — — Quarterly period ended September 30 — — — Quarterly period ended December 31 135,531 19.09 2,561 Year ended December 31 135,531 $ 19.09 $ 2,561 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 Weighted Net 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 Accoun28
Summary of Significant Accounting Policies - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Schedule of dividends declared | Dividends and distributions for the years ended December 31, 2016 , 2015 , and 2014 are as follows: Declaration Date Record Date Payment Date Cash Dividend per Share/Unit December 22, 2016 January 5, 2017 January 18, 2017 $ 0.225 September 26, 2016 October 6, 2016 October 18, 2016 $ 0.225 June 23, 2016 July 5, 2016 July 18, 2016 $ 0.225 March 18, 2016 April 1, 2016 April 18, 2016 $ 0.225 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 |
Dividends and distributions per share | The following table sets forth the federal income tax status of distributions per common share and OP Unit for the periods presented: Year Ended December 31, 2016 2015 2014 Per common share and OP Unit: Ordinary dividends $ 0.5325 $ 0.2693 $ 0.1257 Qualified dividends — — — Capital gain distributions — — 0.0009 Non-dividend distributions 0.3675 0.6307 0.7734 Total $ 0.9000 $ 0.9000 $ 0.9000 |
Acquisitions and Dispositions -
Acquisitions and Dispositions - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Business Combinations [Abstract] | |
Schedule of acquisitions and aggregate purchase price | Investment activity for the year ending December 31, 2016 is summarized below: Property (1) Location Acquisition Date Purchase Price (in thousands) Tinseltown - Loan Draws Jacksonville, FL $ 2,192 Randall Road MOB - Suite 380 (3) Elgin, IL January 14, 2016 704 Great Falls Hospital (2) Great Falls, MT January 25, 2016 29,043 Monterey Medical Center ASC (2) Stuart, FL February 1, 2016 6,900 Physicians Medical Plaza MOB (2) (4) Indianapolis, IN February 1, 2016 8,500 Mezzanine Loan - Davis Minnetonka, MN February 4, 2016 500 Park Nicollet Clinic (2) Chanhassen, MN February 8, 2016 18,600 HEB Cancer Center (2) Bedford, TX February 12, 2016 13,980 Riverview Medical Center (2) Lancaster, OH February 26, 2016 12,800 St. Luke's Cornwall MOB (2) Cornwall, NY February 26, 2016 14,550 HonorHealth Glendale (3) Glendale, AZ March 15, 2016 9,820 Columbia MOB (2) Hudson, NY March 21, 2016 18,450 St Vincent POB 1 (2) Birmingham, AL March 23, 2016 10,951 St Vincent POB 2 (2) Birmingham, AL March 23, 2016 7,945 St Vincent POB 3 (2) Birmingham, AL March 23, 2016 10,455 Emerson Medical Building (2) Creve Coeur, MO March 24, 2016 14,250 Randall Road MOB - Suite 160 (3) Elgin, IL March 24, 2016 865 Patient Partners Surgery Center (2) Gallatin, TN March 30, 2016 4,750 Eye Associates of NM - Santa Fe (3) Santa Fe, NM March 31, 2016 8,739 Eye Associates of NM - Albuquerque (3) Albuquerque, NM March 31, 2016 10,536 Gardendale Surgery Center (2) Gardendale, AL April 11, 2016 7,450 HealthEast - Curve Crest (2) Stillwater, MN April 14, 2016 4,144 HealthEast - Victor Gardens (2) Hugo, MN April 14, 2016 6,025 NOMS - Clyde (3) Clyde, OH May 10, 2016 6,342 Blandford MOB (3) (5) Little Rock, AR May 11, 2016 2,580 Cardwell MOB (2) (5) Lufkin, TX May 11, 2016 8,444 Dacono Neighborhood Health (3) (5) Dacono, CO May 11, 2016 5,152 Franciscan Health (3) (5) Tacoma, WA May 11, 2016 9,772 Grand Island Specialty Clinic (3) (5) Grand Island, NE May 11, 2016 2,891 Hot Springs MOB (2) (5) Hot Springs Village, AR May 11, 2016 3,626 Jewish Medical Center East (3) (5) Louisville, KY May 11, 2016 85,000 Jewish Medical Center South MOB - 1 (3) (5) Shepherdsville, KY May 11, 2016 17,021 Jewish Medical Plaza I (2) (5) Louisville, KY May 11, 2016 9,650 Jewish Medical Plaza II (2) (5) Louisville, KY May 11, 2016 6,124 Jewish OCC (3) (5) Louisville, KY May 11, 2016 35,600 Property (1) Location Acquisition Date Purchase Price (in thousands) Lakeside Three Professional Center (2) (5) Omaha, NE May 11, 2016 1,581 Lexington Surgery Center (2) (5) Lexington, KY May 11, 2016 20,169 Medical Arts Pavilion (2) (5) Lufkin, TX May 11, 2016 6,304 Memorial Outpatient Center (3) (5) Lufkin, TX May 11, 2016 4,958 Midlands Two Professional Center (2) (5) Papillion, NE May 11, 2016 1,341 Parkview MOB (2) (5) Little Rock, AR May 11, 2016 5,060 Peak One ASC (2) (5) Frisco, CO May 11, 2016 6,587 Physicians Medical Center (2) (5) Tacoma, WA May 11, 2016 6,782 St. Alexius - Minot Medical Plaza (3) (5) Minot, ND May 11, 2016 26,570 St. Clare Medical Pavilion (2) (5) Lakewood, WA May 11, 2016 10,617 St. Joseph Medical Pavilion (2) (5) Tacoma, WA May 11, 2016 13,320 St. Joseph Office Park (2) (5) Lexington, KY May 11, 2016 17,228 St. Mary - Caritas Medical II (2) (5) Louisville, KY May 11, 2016 5,603 St. Mary - Caritas Medical III (2) (5) Louisville, KY May 11, 2016 842 Thornton Neighborhood Health (3) (5) Thornton, CO May 11, 2016 3,875 Medical Village at Kissimmee (2) Kissimmee, FL May 26, 2016 4,923 Medical Village at Leesburg (2) Leesburg, FL May 26, 2016 4,576 St. Francis MOB (2) (5) Federal Way, WA June 2, 2016 14,287 Children's Hospital MOB (2) Milwaukee, WI June 3, 2016 5,850 Jewish Medical Center South MOB - 2 (2) Shepherdsville, KY June 8, 2016 4,343 Good Samaritan North Annex Building (3) (5) Kearney, NE June 28, 2016 2,874 NE Heart Institute Medical Building (3) (5) Lincoln, NE June 28, 2016 19,600 St. Vincent West MOB (3) (5) Little Rock, AR June 29, 2016 14,120 Meridan MOB (3) (5) Englewood, CO June 29, 2016 17,329 St. Mary - Caritas Medical I (2) (5) Louisville, KY June 29, 2016 8,864 St. Alexius - Medical Arts Pavilion (3) (5) Bismarck, ND June 29, 2016 12,983 St. Alexius - Mandan Clinic (3) (5) Mandan, ND June 29, 2016 8,390 St. Alexius - Orthopaedic Center (2) (5) Bismarck, ND June 29, 2016 14,727 St. Alexius - Rehab Center (3) (5) Bismarck, ND June 29, 2016 6,215 St. Alexius - Tech & Ed (3) (5) Bismarck, ND June 29, 2016 16,680 Good Samaritan MOB (2) (5) Kearney, NE June 29, 2016 24,198 Lakeside Two Professional Building (2) (5) Omaha, NE June 29, 2016 13,691 Lakeside Wellness Center (3) (5) Omaha, NE June 29, 2016 10,138 McAuley Center (3) (5) Omaha, NE June 29, 2016 18,382 Memorial Health Center (3) (5) Grand Island, NE June 29, 2016 34,042 Missionary Ridge MOB (2) (5) Chattanooga, TN June 29, 2016 7,635 Pilot Medical Center (3) Birmingham, AL June 29, 2016 17,351 St. Joseph Medical Clinic (2) (5) Tacoma, WA June 30, 2016 16,444 Woodlands Medical Arts Center (2) (5) The Woodlands, TX June 30, 2016 21,227 FESC MOB (3) (5) Tacoma, WA June 30, 2016 16,748 Mezzanine Loan - Catalyst Pensacola, FL June 30, 2016 1,340 Prairie Care MOB (2) Maplewood, MN July 6, 2016 4,886 RE Loan - El Paso El Paso, TX July 7, 2016 1,300 Springwoods MOB (2) (5) Spring, TX July 21, 2016 19,925 Equity Buyout - Foundation (6) TX / OK July 26, 2016 611 Property (1) Location Acquisition Date Purchase Price (in thousands) Mezzanine Loan - Hazelwood Minnetonka, MN July 29, 2016 3,375 Jackson, Tennessee Land (3) Jackson, TN August 2, 2016 1,000 Unity Portfolio (4 MOBs) (2) West Lafayette, IN August 8, 2016 28,751 Medical Village at Maitland (2) Orlando, FL August 23, 2016 23,211 Tri-State Orthopaedics MOB (2) Evansville, IN August 30, 2016 22,000 Noncontrolling Interest Buyout - Great Falls Clinic (7) Great Falls, MT September 30, 2016 1,015 Maury Regional Healthcare MOB (2) (8) Spring Hill, TN September 30, 2016 18,500 Spring Ridge Medical Center (2) Wyomissing, PA September 30, 2016 6,100 Doctors Community Hospital MOB (2) Lanham, MD September 30, 2016 26,750 Gig Harbor Medical Pavilion (3) (5) Gig Harbor, WA September 30, 2016 4,766 Midlands One Professional Center (2) (5) Papillion, NE September 30, 2016 14,856 N.W. Michigan Surgery Center - Units #1 & #2 (3) (9) Traverse City, MI October 28, 2016 29,448 United Surgical Partners Joint Venture (10) Scottsdale, AZ October 31, 2016 903 N.W. Michigan Surgery Center - Unit #4 (3) (11) Traverse City, MI November 4, 2016 2,715 Syracuse Portfolio (2 MOBs) (2) Syracuse, NY November 23, 2016 54,239 Cincinnati Eye Institute (3) Cincinnati, OH November 23, 2016 38,100 Curie Building Loan El Paso, TX December 2, 2016 1,500 HonorHealth - Scottsdale MOB (3) Scottsdale, AZ December 2, 2016 6,900 Fox Valley Hematology & Oncology (3) Appleton, WI December 8, 2016 28,200 Gastrointestinal Associates MOB (2) Powell, TN December 9, 2016 6,287 Northern Vision Eye Center (3) Traverse City, MI December 15, 2016 2,777 Noncontrolling Interest Buyout - Great Falls Clinic (12) Great Falls, MT December 15, 2016 1,497 Flower Mound Portfolio (3 MOBs) (3) Flower Mound, TX December 16, 2016 27,800 HonorHealth IRF (3) Scottsdale, AZ December 22, 2016 25,628 $ 1,285,185 (1) “MOB” means medical office building. “ASC” means ambulatory surgery center. “POB” means professional office building. “IRF” means inpatient rehabilitation facility. (2) The Company accounted for these acquisitions as business combinations pursuant to the acquisition method and expensed total acquisition costs of $14.8 million . (3) The Company accounted for these acquisitions as asset acquisitions and capitalized total acquisition costs of $3.0 million . (4) The Company partially funded the purchase price of this acquisition by issuing a total of 174,085 OP Units valued at approximately $2.9 million in the aggregate on the date of issuance. (5) These acquisitions are part of the CHI Portfolio. (6) The Company acquired the previously outstanding 1% noncontrolling interest retained by the predecessor owner on three properties in El Paso, Texas and Oklahoma City, Oklahoma. (7) The Company acquired an additional 3% interest in the Great Falls Clinic joint venture from the predecessor owner, increasing the Company’s total interest to 77.3% . (8) The Company acquired 99.7% of the ownership interest in this property, the remainder of which was retained by the seller. (9) The Company partially funded the purchase price of the acquisition of two condominium units within the Northwest Michigan Surgery Center through the unregistered issuance of 947,936 common shares of beneficial interest. (10) The Company’s investment in the United Surgical Partners J.V. represents a 43% ownership interest. (11) The Company partially funded the purchase price of the acquisition of one additional condominium unit within the Northwest Michigan Surgery Center through the unregistered issuance of 88,602 common shares of beneficial interest. (12) The Company acquired an additional 5% interest in the Great Falls Clinic joint venture from the predecessor owner, increasing the Company’s total interest to 81.8% . For 2016 , the Company recorded revenues and net income of $66.7 million and $14.9 million , respectively, from its 2016 acquisitions. During 2015 , the Company completed acquisitions of 66 properties located in 22 states for an aggregate purchase price of approximately $818.6 million . In addition, the Company completed loan investments totaling $22.4 million . Investment activity for the year ending December 31, 2015 is summarized below: Property (1) Location Acquisition 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 Property (1) Location Acquisition Purchase Price (in thousands) IMS - North Mountain MOB (5) Phoenix, AZ August 31, 2015 51,740 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 $ 840,958 (1) “MOB” means medical office building and “ASC” means ambulatory surgical center. (2) Through subsidiaries of the Operating Partnership, the Company 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 Company accounted for these acquisitions as asset acquisitions and capitalized $ 0.4 million of total acquisition costs to the basis of the properties. (5) The Company accounted for these acquisitions as business combinations pursuant to the acquisition method and expensed total acquisition costs of $14.9 million . (6) The Company 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 Company 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 Company 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 Company 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 Company has an option to purchase the property. (10) The Company 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 Company 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 Company made a $4.5 million mezzanine term loan to partially fund the owner’s permanent financing of the Truman Medical Center in Kansas City, Missouri. The loan accrues interest at the rate of 8.02% per year. The Company has rights of first offer and first refusal to purchase the property. (13) The Company made a $4.5 million mezzanine term loan to partially fund the construction of the Great Falls Hospital in Great Falls, Montana. The loan accrues interest at the rate of 9.0% per year. The Company 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 Company 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 Company’s $24.2 million investment represents the acquisition of an approximate 75% membership interest in the entity which owns the Great Falls Clinic. |
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 Company determined using Level 2 and Level 3 inputs (in thousands): December 31, 2016 December 31, 2015 Land $ 57,847 $ 52,224 Building and improvements 1,112,746 643,470 In-place lease intangible 58,666 99,763 Above market in-place lease intangible 9,359 19,337 Below market in-place lease intangible (4,518 ) (3,738 ) Above market in-place ground lease (644 ) — Below market in-place ground lease 28,937 13,941 Lease inducement 8,945 2,478 Contingent consideration (156 ) (2,718 ) Receivable 104 3,564 Debt assumed — (18,690 ) Prepaid expenses 2,659 — Issuance of Common Shares (20,980 ) — Issuance of OP Units (2,869 ) (10,973 ) Issuance of Series A Preferred Units — (29,403 ) Noncontrolling interest (50 ) (13,970 ) Investment in unconsolidated entity 903 — Net assets acquired $ 1,250,949 $ 755,285 |
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 Company had acquired the 2016 acquisitions detailed above as of January 1, 2015 (in thousands, except share and per share amounts): Year Ended December 31, 2016 2015 Revenue $ 303,590 $ 258,657 Net income 47,154 37,288 Net income available to common shareholders 43,372 34,090 Earnings per share - basic $ 0.34 $ 0.27 Earnings per share - diluted $ 0.34 $ 0.27 Weighted average number of shares outstanding - basic 126,143,114 126,143,114 Weighted average number of shares outstanding - diluted 130,466,893 130,466,893 Physicians Realty L.P. The following table illustrates the pro forma consolidated revenue, net income, and earnings per share as if the Company had acquired the 2016 acquisitions detailed above as of January 1, 2015 (in thousands, except unit and per unit amounts): Year Ended December 31, 2016 2015 Revenue $ 303,590 $ 258,657 Net income 47,154 37,288 Net income available to common unitholders 44,580 35,720 Earnings per unit - basic $ 0.34 $ 0.28 Earnings per unit - diluted $ 0.34 $ 0.27 Weighted average number of units outstanding - basic 129,835,209 129,835,209 Weighted average number of units outstanding - diluted 130,466,893 130,466,893 |
Intangibles - (Tables)
Intangibles - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
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, 2016 and 2015 (in thousands): December 31, 2016 December 31, 2015 Cost Accumulated Amortization Net Cost Accumulated Amortization Net Assets In-place leases $ 222,394 $ (55,605 ) $ 166,789 $ 163,728 $ (26,702 ) $ 137,026 Above market leases 35,478 (6,909 ) 28,569 26,787 (3,174 ) 23,613 Leasehold interest 712 (124 ) 588 712 (64 ) 648 Below market ground lease 42,878 (539 ) 42,339 13,941 (68 ) 13,873 Total $ 301,462 $ (63,177 ) $ 238,285 $ 205,168 $ (30,008 ) $ 175,160 Liability Below market lease $ 10,297 $ (2,345 ) $ 7,952 $ 6,068 $ (799 ) $ 5,269 Above market ground lease 1,345 (44 ) 1,301 701 (20 ) 681 Total $ 11,642 $ (2,389 ) $ 9,253 $ 6,769 $ (819 ) $ 5,950 |
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, 2016 , 2015 , and 2014 (in thousands): December 31, 2016 2015 2014 Amortization expense related to in-place leases $ 28,902 $ 15,300 $ 4,133 Decrease of rental income related to above-market leases 4,403 2,596 530 Decrease of rental income related to leasehold interests 59 59 5 Increase of rental income related to below-market leases 1,835 643 156 Decrease of operating expense related to above market ground leases 24 16 4 Increase in operating expense related to below market ground leases 471 68 — |
Schedule of future amortization of the acquired lease intangibles | Future aggregate net amortization of the acquired lease intangibles as of December 31, 2016 , is as follows (in thousands): Net Decrease in Revenue Net Increase in Expenses 2017 $ (2,311 ) $ 30,305 2018 (2,217 ) 26,169 2019 (2,344 ) 21,803 2020 (2,434 ) 19,426 2021 (2,477 ) 17,999 Thereafter (9,422 ) 92,125 Total $ (21,205 ) $ 207,827 |
Other Assets - (Tables)
Other Assets - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Other Assets, Unclassified [Abstract] | |
Schedule of other assets | Other assets consisted of the following as of December 31, 2016 and 2015 (in thousands): December 31, 2016 2015 Straight line rent receivable 32,018 15,584 Notes receivable 16,618 20,620 Interest rate swap 13,881 — Lease inducements, net 13,255 4,970 Prepaid expenses 8,928 4,181 Escrows 4,334 4,788 Leasing commissions, net 1,858 1,052 Earnest deposits 1,500 343 Other 2,795 1,745 Total $ 95,187 $ 53,283 |
Debt - (Tables)
Debt - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Schedule of debt | The following is a summary of debt as of December 31, 2016 and 2015 (in thousands): December 31, 2016 2015 Fixed interest mortgage notes $ 90,185 (1) $ 89,664 (2) Variable interest mortgage note 33,009 (3) 4,262 (4) Total mortgage debt 123,194 93,926 $850 million unsecured revolving credit facility bearing variable interest of LIBOR plus 1.20%, due September 2020 401,000 395,000 $250 million unsecured term borrowing bearing fixed interest of 2.87%, due June 2023 250,000 (5) — $150 million senior unsecured notes bearing fixed interest of 4.03% to 4.74%, due January 2023 to 2031 150,000 — $75 million senior unsecured notes bearing fixed interest of 4.09% to 4.24%, due August 2025 to 2027 75,000 — Total principal 999,194 488,926 Unamortized deferred financing cost (8,477 ) (5,985 ) Unamortized fair value adjustment 438 674 Total debt $ 991,155 $ 483,615 (1) Fixed interest mortgage notes, bearing interest from 4.71% to 6.58% , with a weighted average interest rate of 5.44% , and due in 2017, 2018, 2019, 2020, 2021, 2022, and 2032 collateralized by 11 properties with a net book value of $156.7 million . (2) 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 $145.0 million . (3) Variable interest mortgage notes, bearing variable interest of LIBOR plus 2.25% to 3.25% , with a weighted average interest rate of 3.68% and due in 2017 and 2018, collateralized by four properties with a net book value of $45.6 million . (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 $5.9 million . (5) The Trust’s borrowings under the term loan feature of the Credit Agreement bear interest at a rate which is determined by the Trust’s credit rating, currently equal to LIBOR + 1.80% . The Trust has entered into a pay-fixed receive-variable interest rate swap, fixing the LIBOR component of this rate at 1.07% . |
Schedule of consolidated leverage ratios | The Credit Agreement provides for revolving credit and term loans to the Trust and 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: Credit Rating Margin for Revolving Loans: Adjusted LIBOR Rate Loans and Letter of Credit Fee Margin for Revolving Loans: Base Rate Loans Margin for Term Loans: Adjusted LIBOR Rate Loans and Letter of Credit Fee Margin for Term Loans: Base Rate Loans At Least A- or A3 LIBOR + 0.85% — % LIBOR + 1.40% 0.40 % At Least BBB+ or BAA1 LIBOR + 0.90% — % LIBOR + 1.45% 0.45 % At Least BBB or BAA2 LIBOR + 1.00% 0.10 % LIBOR + 1.55% 0.55 % At Least BBB- or BAA3 LIBOR + 1.20% 0.20 % LIBOR + 1.80% 0.80 % Below BBB- or BAA3 LIBOR + 1.55% 0.60 % LIBOR + 2.25% 1.25 % |
Schedule of principal payments due on debt | Scheduled principal payments due on debt as of December 31, 2016 , are as follows (in thousands): 2017 $ 38,615 2018 39,855 2019 20,162 2020 406,603 2021 7,644 Thereafter 486,315 Total Payments $ 999,194 |
Derivatives - (Tables)
Derivatives - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Instrument Detail [Abstract] | |
Schedule of Interest Rate Derivatives | The following table summarizes the location and aggregate fair value of the interest rate swaps on the Company’s consolidated balance sheets (in thousands): Total notional amount $ 250,000 Effective fixed interest rate (1) 2.87 % Effective date 7/7/2016 Maturity date 6/10/2023 Asset balance at December 31, 2016 (included in Other assets) $ 13,881 (1) 1.07% effective swap rate plus 1.80% spread per Credit Agreement. |
Accrued Expenses and Other Li34
Accrued Expenses and Other Liabilities - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Other Liabilities Disclosure [Abstract] | |
Schedule of accrued expenses and other liabilities | Accrued expenses and other liabilities consisted of the following as of December 31, 2016 and 2015 (in thousands): December 31, 2016 2015 Real estate taxes payable $ 9,300 $ 2,349 Prepaid rent 5,834 2,778 Embedded derivative 5,571 8,149 Tenant improvement allowance 5,315 1,184 Accrued interest 4,905 22 Security deposits 4,506 4,038 Accrued incentive compensation 1,405 900 Contingent consideration 1,392 2,559 Accrued expenses and other 4,059 2,494 Total $ 42,287 $ 24,473 |
Stock-based Compensation - (Tab
Stock-based Compensation - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of non-vested restricted common shares | The following is summary of the status of the Trust’s non-vested restricted common shares during 2016 , 2015 , and 2014 : Common Shares Weighted Average Grant Date Fair Value 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 Granted 155,306 17.96 Vested (170,034 ) 14.16 Forfeited (326 ) 15.36 Non-vested at December 31, 2016 296,785 $ 16.16 |
Schedule of weighted average grant date fair value assumptions | The Company utilized a Monte Carlo simulation to calculate the weighted average grant date fair values in 2016 , 2015 , and 2014 of $28.50 , $20.06 , and $19.25 per unit, respectively, using the following assumptions: 2016 2015 2014 Volatility 20.3 % 20.7 % 18.8% - 34.2% Dividend assumption reinvested reinvested reinvested Expected term in years 2.8 years 2.8 years 2.8 years Risk-free rate 1.07 % 1.14 % 0.65 % Stock price (per share) $ 17.67 $ 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 2016 , 2015 , and 2014 : Executive Awards Trustee Awards Restricted Share Units Weighted Average Grant Date Fair Value Restricted Share Weighted Non-vested at December 31, 2013 — $ — — $ — Granted 55,680 16.94 — — Non-vested at December 31, 2014 55,680 16.94 — — Granted 75,250 19.22 40,957 15.87 Non-vested at December 31, 2015 130,930 18.48 40,957 15.87 Granted 104,553 26.33 36,784 17.67 Vested — — (20,481 ) 15.87 Non-vested at December 31, 2016 235,483 $ 21.84 57,260 $ 17.03 |
Fair Value Measurements - (Tabl
Fair Value Measurements - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Schedule of fair value of other financial instruments | The following table presents the fair value of the Company’s financial instruments (in thousands): December 31, 2016 2015 Carrying Amount Fair Value Carrying Amount Fair Value Assets: Real estate loans receivable $ 39,154 $ 39,154 $ 39,349 $ 39,349 Notes receivable $ 16,618 $ 16,618 $ 20,620 $ 20,620 Derivative assets $ 13,881 $ 13,881 $ — $ — Liabilities: Credit facility $ (651,000 ) $ (651,000 ) $ (395,000 ) $ (395,000 ) Notes payable $ (225,000 ) $ (214,584 ) $ — $ — Mortgage debt $ (123,632 ) $ (125,420 ) $ (94,600 ) $ (95,275 ) Derivative liabilities $ (5,571 ) $ (5,571 ) $ (8,216 ) $ (8,216 ) |
Tenant Operating Leases - (Tabl
Tenant Operating Leases - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Leases [Abstract] | |
Schedule of future minimum rental payments on non-cancelable leases, exclusive of expense recoveries | As of December 31, 2016 , the future minimum rental payments on non-cancelable leases, exclusive of expense recoveries, were as follows (in thousands): 2017 $ 217,877 2018 213,420 2019 208,518 2020 203,403 2021 197,097 Thereafter 1,172,669 Total $ 2,212,984 |
Rent Expense - (Tables)
Rent Expense - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Leases [Abstract] | |
Schedule of future minimum lease obligations under non-cancelable ground leases | As of December 31, 2016 , the future minimum lease obligations under non-cancelable parking, air, ground, and office leases were as follows (in thousands): 2017 $ 2,408 2018 2,456 2019 2,475 2020 2,478 2021 2,536 Thereafter 67,233 Total $ 79,586 |
Credit Concentration - (Tables)
Credit Concentration - (Tables) - Sales Revenue, Services, Net | 12 Months Ended |
Dec. 31, 2016 | |
Customer Concentration Risk | |
Concentration Risk [Line Items] | |
Schedules of Concentration of Risk, by Risk Factor | The following table summarizes certain information about the Company’s top five tenant credit concentrations as of December 31, 2016 (in thousands): Tenant Total ABR Percent of ABR CHI - KentuckyOne Health $ 12,805 5.8 % CHI - Nebraska 9,275 4.2 % CHI - Franciscan (Seattle-Tacoma) 5,437 2.5 % CHI - St. Alexius (North Dakota) 5,278 2.4 % Great Falls Hospital 5,151 2.4 % Remaining portfolio 181,183 82.7 % Total 219,129 100.0 % |
Geographic Concentration Risk | |
Concentration Risk [Line Items] | |
Schedules of Concentration of Risk, by Risk Factor | The following table summarizes certain information about the Company’s top five geographic concentrations as of December 31, 2016 (in thousands): State Total ABR Percent of ABR Texas $ 26,603 12.1 % Kentucky 15,459 7.0 % Arizona 14,161 6.5 % Indiana 12,848 5.9 % Ohio 12,822 5.9 % Other 137,236 62.6 % Total 219,129 100.0 % |
Earnings Per Share and Earnin40
Earnings Per Share and Earnings Per Unit - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
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, 2016 2015 2014 Numerator for earnings per share - basic: Net income (loss) $ 31,522 $ 12,741 $ (4,418 ) Net (income) loss attributable to noncontrolling interests: Operating Partnership (825 ) (576 ) 695 Partially owned properties (716 ) (377 ) (314 ) Preferred distributions (1,857 ) (1,189 ) — Numerator for earnings per share - basic: $ 28,124 $ 10,599 $ (4,037 ) Numerator for earnings per share - diluted: Numerator for earnings per share - basic: 28,124 10,599 (4,037 ) Operating Partnership net income 825 576 — Numerator for earnings per share - diluted $ 28,949 $ 11,175 $ (4,037 ) Denominator for earnings per share - basic and diluted: Weighted average number of shares outstanding - basic 126,143,114 72,750,724 33,063,093 Effect of dilutive securities: Noncontrolling interest - Operating Partnership units 3,692,095 3,708,494 — Restricted shares 205,036 190,619 — Restricted share units 426,648 142,236 — Denominator for earnings per share - diluted 130,466,893 76,792,073 33,063,093 Earnings per share - basic $ 0.22 $ 0.15 $ (0.12 ) Earnings per share - diluted $ 0.22 $ 0.15 $ (0.12 ) The following table shows the amounts used in computing the Operating Partnership’s basic and diluted earnings per unit (in thousands, except unit and per unit data): Year Ended December 31, 2016 2015 2014 Numerator for earnings per unit - basic and diluted: Net income (loss) 31,522 12,741 (4,418 ) Net (income) loss attributable to noncontrolling interests - partially owned properties (716 ) (377 ) (314 ) Preferred distributions (1,857 ) (1,189 ) — Numerator for earnings per unit - basic and diluted $ 28,949 $ 11,175 $ (4,732 ) Denominator for earnings per unit - basic and diluted: Weighted average number of units outstanding - basic 129,835,209 76,459,218 36,881,712 Effect of dilutive securities: Restricted shares 205,036 190,619 — Restricted share units 426,648 142,236 — Denominator for earnings per unit - diluted 130,466,893 76,792,073 36,881,712 Earnings per unit - basic $ 0.22 $ 0.15 $ (0.12 ) Earnings per unit - diluted $ 0.22 $ 0.15 $ (0.12 ) |
Subsequent Events - (Tables)
Subsequent Events - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Subsequent Events [Abstract] | |
Schedule of acquisitions through subsidiaries of operating partnership | Since January 1, 2017 , the Trust, through subsidiaries of its Operating Partnership, has completed acquisitions of 4 healthcare properties for an aggregate purchase price of $109.5 million containing an aggregate of 238,312 net leasable square feet. In addition, the Operating Partnership funded an aggregate $2.3 million of loans through 2 separate transactions, resulting in aggregate investment activity of $111.8 million . Property acquisitions are summarized below: Property(1) Location Acquisition Investment (in thousands) Orthopedic Associates MOB Flower Mound, TX January 5, 2017 $ 18,800 Medical Arts Center at Hartford Plainville, CT January 11, 2017 30,300 CareMount Portfolio (2 MOBs) Lake Katrine / Rhinebeck, NY February 14, 2017 60,400 $ 109,500 (1) “MOB” means medical office building. |
Quarterly Data - (Tables)
Quarterly Data - (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Data | been prepared on the basis of a December 31 year-end. Amounts are in thousands, except for common unit and per unit amounts. Quarter Ended 2016 March 31 June 30 September 30 December 31 Total revenues $ 44,134 $ 53,216 $ 70,010 $ 73,674 Operating income 5,392 7,158 10,267 8,590 Net income 5,424 7,184 10,294 8,620 Net income attributable to common unitholders 4,559 6,687 9,682 8,021 Earnings per unit – basic: Net income available to common unitholders $ 0.04 $ 0.05 $ 0.07 $ 0.06 Weighted average number of units outstanding 106,550,467 135,351,672 138,227,384 139,018,183 Earnings per unit – diluted: Net income available to common unitholders $ 0.04 $ 0.05 $ 0.07 $ 0.06 Weighted average number of units outstanding 107,148,380 135,944,722 138,880,787 139,602,249 As a result of the acquisition activity and equity offerings throughout 2016 and 2015 , the quarterly periods are not comparable quarter over quarter. Quarter Ended 2015 March 31 June 30 September 30 December 31 Total revenues $ 24,484 $ 29,683 $ 34,870 $ 40,404 Operating income (459 ) 3,271 3,812 5,883 Net income (448 ) 3,297 3,983 5,909 Net income attributable to common unitholders (546 ) 2,728 3,604 5,389 Earnings per unit – basic: Net income available to common unitholders $ (0.01 ) $ 0.04 $ 0.05 $ 0.06 Weighted average number of units outstanding 69,146,712 74,075,323 74,864,677 87,565,282 Earnings per unit – diluted: Net income available to common unitholders $ (0.01 ) $ 0.04 $ 0.05 $ 0.06 Weighted average number of units outstanding 69,146,712 74,267,284 75,104,821 87,911,097 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 2016 March 31 June 30 September 30 December 31 Total revenues $ 44,134 $ 53,216 $ 70,010 $ 73,674 Operating income 5,392 7,158 10,267 8,590 Net income 5,424 7,184 10,294 8,620 Net income attributable to common shareholders 4,386 6,486 9,427 7,825 Earnings per share – basic: Net income available to common shareholders $ 0.04 $ 0.05 $ 0.07 $ 0.06 Weighted average number of shares outstanding 102,704,008 131,481,329 134,608,396 135,581,976 Earnings per share – diluted: Net income available to common shareholders $ 0.04 $ 0.05 $ 0.07 $ 0.06 Weighted average number of shares outstanding 107,148,380 135,944,722 138,880,787 139,602,349 As a result of the acquisition activity and equity offerings throughout 2016 and 2015 , the quarterly periods are not comparable quarter over quarter. 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 available 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 number of shares outstanding 65,649,478 70,376,959 71,034,747 83,761,536 Earnings per share - diluted: Net (loss) income available to common shareholders $ (0.01 ) $ 0.04 $ 0.05 $ 0.06 Weighted average number of shares outstanding 65,649,478 74,267,284 75,104,821 87,911,097 |
Organization and Business - (De
Organization and Business - (Details) - USD ($) | Aug. 19, 2016 | Aug. 05, 2016 | Apr. 11, 2016 | Jan. 25, 2016 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | 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, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Feb. 17, 2017 |
Organization and Business | ||||||||||||||||||||
Common stock, shares authorized (in shares) | 500,000,000 | 500,000,000 | 500,000,000 | 500,000,000 | ||||||||||||||||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | ||||||||||||||||
Common shares sold (in shares) | 25,875,000 | 21,275,000 | ||||||||||||||||||
Shares issued upon exercise of the underwriters' overallotment option | 3,375,000 | 2,775,000 | ||||||||||||||||||
Net proceeds from issuance of common stock | $ 442,600,000 | $ 321,100,000 | ||||||||||||||||||
Number of partnership units issued | 25,875,000 | 21,275,000 | ||||||||||||||||||
2014 ATM Program | ATM Program | Operating Partnership | ||||||||||||||||||||
Organization and Business | ||||||||||||||||||||
Common shares sold (in shares) | 0 | 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 | ||||||||||
2014 ATM Program | ATM Program | Maximum | Operating Partnership | ||||||||||||||||||||
Organization and Business | ||||||||||||||||||||
Aggregate offering price of common stock | $ 150,000,000 | |||||||||||||||||||
2016 ATM Program | ATM Program | Operating Partnership | ||||||||||||||||||||
Organization and Business | ||||||||||||||||||||
Common shares sold (in shares) | 135,531 | 0 | 0 | 0 | 135,531 | |||||||||||||||
Net proceeds from issuance of common stock | $ 2,561,000 | $ 0 | $ 0 | $ 0 | $ 2,561,000 | |||||||||||||||
2016 ATM Program | ATM Program | Maximum | ||||||||||||||||||||
Organization and Business | ||||||||||||||||||||
Aggregate offering price of common stock | $ 300,000,000 | |||||||||||||||||||
2016 ATM Program | Subsequent Events | ATM Program | ||||||||||||||||||||
Organization and Business | ||||||||||||||||||||
Amount remaining available | $ 297,400,000 |
Organization and Business - Sch
Organization and Business - Schedule of Issuance and Sale of Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands | Apr. 11, 2016 | Jan. 25, 2016 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | 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, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Class of Stock [Line Items] | |||||||||||||||||
Common shares sold (in shares) | 25,875,000 | 21,275,000 | |||||||||||||||
Net proceeds from issuance of common stock | $ 442,600 | $ 321,100 | |||||||||||||||
2014 ATM Program | ATM Program | Operating Partnership | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Common shares sold (in shares) | 0 | 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 | |||||||
2016 ATM Program | ATM Program | Operating Partnership | |||||||||||||||||
Class of Stock [Line Items] | |||||||||||||||||
Common shares sold (in shares) | 135,531 | 0 | 0 | 0 | 135,531 | ||||||||||||
Weighted average price (in dollars per share) | $ 19.09 | $ 0 | $ 0 | $ 0 | $ 19.09 | ||||||||||||
Net proceeds from issuance of common stock | $ 2,561 | $ 0 | $ 0 | $ 0 | $ 2,561 |
Summary of Significant Accoun45
Summary of Significant Accounting Policies - Principals of Consolidation (Details) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Ownership interest in consolidated subsidiaries (as a percent) | 100.00% |
Summary of Significant Accoun46
Summary of Significant Accounting Policies - Noncontrolling Interests (Details) $ / shares in Units, $ in Thousands | Dec. 17, 2015USD ($)shares | Mar. 01, 2015USD ($) | Feb. 05, 2015USD ($)$ / sharesshares | Dec. 31, 2016USD ($) | Dec. 31, 2016USD ($)shares | Dec. 31, 2016USD ($)Rate | Dec. 31, 2016USD ($)properties | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($)Rate | Apr. 01, 2016USD ($) |
Business Acquisition [Line Items] | ||||||||||
Value of units issued for funding purchase price | $ 20,980 | $ 20,980 | $ 20,980 | $ 20,980 | $ 20,980 | $ 0 | ||||
Acquisition price | 1,285,185 | $ 840,958 | ||||||||
Percentage of interest held | 97.50% | 43.00% | 95.70% | |||||||
Conversion ratio | 1 | |||||||||
Real estate taxes payable | 5,571 | $ 5,571 | $ 5,571 | $ 5,571 | $ 5,571 | $ 8,149 | ||||
Equity investment | $ 5,000 | |||||||||
Internal rate of return | 15.00% | |||||||||
Reclassification from noncontrolling interests | 8,500 | |||||||||
Operating Partnership | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Acquisition price | 8,500 | |||||||||
Units | Operating Partnership | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Number of real estate properties acquired | properties | 1 | |||||||||
Number of units issued for funding purchase price (in shares) | shares | 174,085 | |||||||||
Value of units issued for funding purchase price | 2,900 | $ 2,900 | $ 2,900 | $ 2,900 | $ 2,900 | |||||
Number of shares | shares | 217,549 | |||||||||
Noncontrolling interest, decrease from redemptions or purchase of interests | $ 4,000 | |||||||||
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 | |||||||||
Minnetonka MOB | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Number of units issued for funding purchase price (in shares) | shares | 44,685 | |||||||||
Acquisition price | $ 26,000 | |||||||||
Value of Preferred Units | $ 9,700 | |||||||||
Internal rate of return | 15.00% | |||||||||
Minnetonka MOB | Units | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Real estate taxes payable | $ 2,700 | |||||||||
Business acquisition, equity interest redeemed, value assigned | $ 9,800 | |||||||||
Minnetonka MOB | Series A Preferred units | Units | Operating Partnership | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Number of units issued for funding purchase price (in shares) | shares | 44,685 | |||||||||
Nashville MOB | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Acquisition price | $ 45,440 | |||||||||
Value of Preferred Units | $ 19,700 | |||||||||
Nashville MOB | Series A Preferred units | Units | Operating Partnership | ||||||||||
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 Accoun47
Summary of Significant Accounting Policies - Dividends and Distributions (Details) - $ / shares | Jan. 18, 2017 | Dec. 22, 2016 | Oct. 18, 2016 | Sep. 26, 2016 | Jul. 18, 2016 | Jun. 23, 2016 | Apr. 18, 2016 | Jan. 29, 2016 | Dec. 31, 2015 | Sep. 28, 2015 | Jul. 31, 2015 | Jul. 01, 2015 | May 01, 2015 | Apr. 06, 2015 | Feb. 05, 2015 | Dec. 30, 2014 | Oct. 30, 2014 | Sep. 26, 2014 | Aug. 01, 2014 | Jun. 26, 2014 | Apr. 25, 2014 | Mar. 27, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Subsequent events | |||||||||||||||||||||||||
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 | $ 0.225 | $ 0.225 | $ 0.225 | $ 0.9 | $ 0.9 | $ 0.9 | ||||||||||
Cash paid per share | $ 0.225 | $ 0.225 | $ 0.225 | $ 0.225 | $ 0.225 | $ 0.225 | $ 0.225 | $ 0.225 | $ 0.225 | $ 0.225 | |||||||||||||||
Subsequent Events | |||||||||||||||||||||||||
Subsequent events | |||||||||||||||||||||||||
Cash paid per share | $ 0.225 |
Summary of Significant Accoun48
Summary of Significant Accounting Policies - Tax Status of Dividends and Distributions (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Accounting Policies [Abstract] | |||
Ordinary dividends (dollars per share) | $ 0.5325 | $ 0.2693 | $ 0.1257 |
Qualified dividends (dollars per share) | 0 | 0 | 0 |
Capital gain distribution (dollars per share) | 0 | 0 | 0.0009 |
Non-dividend distributions (dollars per share) | 0.3675 | 0.6307 | 0.7734 |
Total (dollars per share) | $ 0.9000 | $ 0.9000 | $ 0.9000 |
Summary of Significant Accoun49
Summary of Significant Accounting Policies - Impairment of Intangible and Long-Lived Assets (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Accounting Policies [Abstract] | |||
Impairment loss | $ 0 | $ 0 | $ 1,750,000 |
Summary of Significant Accoun50
Summary of Significant Accounting Policies - Investments in Unconsolidated Entities (Details) - USD ($) $ in Thousands | Oct. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Business Acquisition [Line Items] | ||||||
Percentage of interest held | 97.50% | 43.00% | 95.70% | |||
Acquisition price | $ 1,285,185 | $ 840,958 | ||||
Jeff Orleans Medical Development Real Estate L L C | ||||||
Business Acquisition [Line Items] | ||||||
Percentage of interest held | 40.00% | |||||
Acquisition price | $ 1,300 | |||||
United Surgical Partners J.V. | ||||||
Business Acquisition [Line Items] | ||||||
Acquisition price | $ 903 |
Summary of Significant Accoun51
Summary of Significant Accounting Policies - Real Estate Loans Receivable (Details) | 12 Months Ended |
Dec. 31, 2016buildingsmezzanine_loan | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Number of medical office building developments, as collateral for real estate loans receivable | buildings | 2 |
Mezzanine Loan Receivable | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Number of loans | 8 |
Term Loan Receivable | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Number of loans | 2 |
Summary of Significant Accoun52
Summary of Significant Accounting Policies - Escrow Revenue (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Accounting Policies [Abstract] | ||
Escrows | $ 4,334 | $ 4,788 |
Summary of Significant Accoun53
Summary of Significant Accounting Policies - Derivative Instruments (Details) | Dec. 31, 2016instruments |
Derivative [Line Items] | |
Number of derivative instruments | 6 |
Summary of Significant Accoun54
Summary of Significant Accounting Policies - Tenant Receivables, Net (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Receivables [Abstract] | ||
Allowance for doubtful accounts | $ 2.4 | $ 0.1 |
Summary of Significant Accoun55
Summary of Significant Accounting Policies - Rental Revenue (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Accounting Policies [Abstract] | ||
Straight line rent receivable | $ 32,018 | $ 15,584 |
Summary of Significant Accoun56
Summary of Significant Accounting Policies - New Accounting Pronouncements (Details) | 12 Months Ended | ||
Dec. 31, 2016Rate | Dec. 31, 2016 | Dec. 31, 2015Rate | |
Accounting Policies [Abstract] | |||
Percentage of interest held | 97.50% | 43.00% | 95.70% |
Acquisitions and Dispositions57
Acquisitions and Dispositions - (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016USD ($)condominium_unitsstateshealthcareproperty | Dec. 31, 2015USD ($)propertiesstates | |
Business Acquisition [Line Items] | ||
Number of operating healthcare properties | properties | 66 | |
Number of states in which operating healthcare properties and land parcel located | states | 23 | 22 |
Joint venture investments | $ 900 | |
Buyout of redeemable noncontrolling interest | 2,500 | |
Buyout of noncontrolling interests - partially owned properties | (611) | |
Acquisition price | $ 1,285,185 | $ 840,958 |
Series of Individually Immaterial Business Acquisitions [Member] | ||
Business Acquisition [Line Items] | ||
Number of operating healthcare properties | healthcareproperty | 95 | |
Number of condominium units | condominium_units | 5 | |
Number of land parcels | condominium_units | 1 | |
Aggregate purchase price | $ 1,270,000 | |
Loans | ||
Business Acquisition [Line Items] | ||
Loan investments | 10,200 | $ 22,400 |
Near-term capital expenditure commitments | CHI Portfolio | ||
Business Acquisition [Line Items] | ||
Capital committed to fund future improvements | 12,900 | |
Committed tenant improvement allowances | CHI Portfolio | ||
Business Acquisition [Line Items] | ||
Capital committed to fund future improvements | $ 8,900 |
Acquisitions and Dispositions58
Acquisitions and Dispositions - 2016 Acquisitions (Details) $ in Thousands | Dec. 22, 2016USD ($) | Dec. 16, 2016USD ($) | Dec. 15, 2016USD ($)Rate | Dec. 09, 2016USD ($) | Dec. 08, 2016USD ($) | Dec. 02, 2016USD ($) | Nov. 23, 2016USD ($) | Nov. 04, 2016USD ($)shares | Oct. 31, 2016USD ($) | Oct. 28, 2016USD ($)shares | Sep. 30, 2016USD ($) | Aug. 30, 2016USD ($) | Aug. 23, 2016USD ($) | Aug. 08, 2016USD ($) | Aug. 02, 2016USD ($) | Jul. 29, 2016USD ($) | Jul. 26, 2016USD ($)propertiesRate | Jul. 21, 2016USD ($) | Jul. 07, 2016USD ($) | Jul. 06, 2016USD ($) | Jun. 30, 2016USD ($) | Jun. 29, 2016USD ($) | Jun. 28, 2016USD ($) | Jun. 08, 2016USD ($) | Jun. 03, 2016USD ($) | Jun. 02, 2016USD ($) | May 26, 2016USD ($) | May 11, 2016USD ($) | May 10, 2016USD ($) | Apr. 14, 2016USD ($) | Apr. 11, 2016USD ($) | Mar. 31, 2016USD ($) | Mar. 30, 2016USD ($) | Mar. 24, 2016USD ($) | Mar. 23, 2016USD ($) | Mar. 21, 2016USD ($) | Mar. 15, 2016USD ($) | Feb. 26, 2016USD ($) | Feb. 12, 2016USD ($) | Feb. 08, 2016USD ($) | Feb. 04, 2016USD ($) | Feb. 01, 2016USD ($)shares | Jan. 25, 2016USD ($) | Jan. 14, 2016USD ($) | Dec. 29, 2015USD ($) | Dec. 31, 2016USD ($)Rate | Sep. 30, 2016USD ($) | Jun. 30, 2016USD ($) | Mar. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Sep. 30, 2014USD ($) | Jun. 30, 2014USD ($) | Mar. 31, 2014USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Dec. 31, 2016USD ($)Rate | Dec. 31, 2016USD ($)Rateshares | Dec. 31, 2016USD ($)Rate | Dec. 31, 2016USD ($)Rate | Dec. 31, 2015USD ($)Rate | Dec. 31, 2014USD ($) |
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 1,285,185 | $ 840,958 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Buyout of redeemable noncontrolling interest | 2,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Buyout of noncontrolling interests - partially owned properties | (611) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition expenses | 14,778 | 14,893 | $ 10,897 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition costs capitalized | 3,000 | 400 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Value of units issued for funding purchase price | $ 20,980 | $ 0 | 20,980 | $ 20,980 | $ 20,980 | $ 20,980 | $ 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest held | 97.50% | 43.00% | 95.70% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total revenues | 73,674 | $ 70,010 | $ 53,216 | $ 44,134 | 40,404 | $ 34,870 | $ 29,683 | $ 24,484 | 241,034 | $ 129,441 | 53,334 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income | $ 8,620 | 10,294 | 7,184 | 5,424 | 5,909 | 3,983 | 3,297 | (448) | 31,522 | 12,741 | (4,418) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tinseltown - Loan Draws | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 2,192 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Randall Road MOB, Suite 380, Elgin, IL [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 704 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Great Falls Hospital | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 29,043 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Monterey Medical Center ASC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 6,900 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Physicians Medical Plaza MOB | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 8,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mezzanine Loan - Davis, Minnetonka, MN [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Park Nicollet Clinic | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 18,600 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HEB Cancer Center | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 13,980 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Riverview Medical Center | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 12,800 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
St. Luke's Cornwall MOB | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 14,550 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HonorHealth Glendale | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 9,820 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Columbia MOB | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 18,450 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
St Vincent POB 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 10,951 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
St Vincent POB 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 7,945 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
St Vincent POB 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 10,455 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Emerson Medical Building | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 14,250 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Randall Road MOB, Suite 160, Elgin, IL [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 865 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Patient Partners Surgery Center | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 4,750 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Eye Associates of NM - Santa Fe | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 8,739 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Eye Associates of NM - Albuquerque | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 10,536 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gardendale Surgery Center [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 7,450 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HealthEast - Curve Crest | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 4,144 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HealthEast - Victor Gardens | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 6,025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NOMS - Clyde | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 6,342 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Medical Village at Kissimmee | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 4,923 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Medical Village at Leesburg | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 4,576 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Children's Hospital MOB | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 5,850 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jewish Medical Center South MOB - 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 4,343 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pilot Medical Center | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 17,351 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mezzanine Loan - Catalyst [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Secured loans on real estate, loan amount | $ 1,340 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prairie Care MOB | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 4,886 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Buyout - Foundation [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Buyout of noncontrolling interests - partially owned properties | $ 611 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jackson, Tennessee Land Purchase [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 1,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unity Portfolio [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 28,751 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Medical Village at Maitland | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 23,211 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tri-State Orthopaedics MOB | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 22,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Great Falls Clinic MOB | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 24,244 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Buyout of redeemable noncontrolling interest | $ 1,015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Noncontrolling interest, increase from business combination, percent | Rate | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Noncontrolling interest, ownership percentage by parent | Rate | 77.30% | 77.30% | 77.30% | 77.30% | 77.30% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest acquired | 75.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maury Regional Healthcare MOB | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 18,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Percentage of interest acquired | Rate | 99.70% | 99.70% | 99.70% | 99.70% | 99.70% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Spring Ridge Medical Center | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 6,100 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Doctors Community Hospital MOB [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 26,750 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Michigan Surgery Center Units 1 & 2 [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 29,448 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of units issued for funding purchase price (in shares) | shares | 947,936 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
United Surgical Partners J.V. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 903 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
N.W. Michigan Surgery Center Unit 4 [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 2,715 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of units issued for funding purchase price (in shares) | shares | 88,602 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Syracuse Portfolio [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 54,239 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cincinnati Eye Institute | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 38,100 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Curie Building Loan [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Secured loans on real estate, loan amount | $ 1,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HonorHealth - Scottsdale MOB | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 6,900 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fox Valley Hematology & Oncology | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 28,200 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gastrointestinal Associates MOB | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 6,287 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Northern Vision Eye Center | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 2,777 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Noncontrolling Interest Buyout - Great Falls Clinic [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Buyout of redeemable noncontrolling interest | $ 1,497 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Noncontrolling interest, increase from business combination, percent | Rate | 5.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Noncontrolling interest, ownership percentage by parent | Rate | 81.80% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Flower Mound Portfolio [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 27,800 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
HonorHealth IRF | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 25,628 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foundation Healthcare [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Noncontrolling interest, increase from business combination, percent | Rate | 1.00% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of real estate properties | properties | 3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Series of Individually Immaterial Business Acquisitions [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total revenues | $ 66,700 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income | 14,900 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating Partnership | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 8,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Buyout of noncontrolling interests - partially owned properties | $ 611 | 611 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition expenses | 4,398 | 3,256 | 3,377 | 3,257 | 2,575 | 5,932 | $ 2,922 | $ 2,045 | $ 4,287 | $ 6,633 | $ 8,507 | $ 6,332 | 11,031 | $ 11,764 | $ 9,254 | 14,778 | 14,893 | 10,897 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total revenues | $ 73,674 | 70,010 | 53,216 | 44,134 | 40,404 | 34,870 | 29,683 | 24,484 | 14,161 | 11,447 | 8,032 | 97,350 | 54,167 | 19,479 | 167,360 | 89,037 | 33,640 | 241,034 | 129,441 | 53,334 | ||||||||||||||||||||||||||||||||||||||||||||||||
Net income | 8,620 | $ 10,294 | $ 7,184 | $ 5,424 | $ 5,909 | $ 3,983 | $ 3,297 | $ (448) | $ (2,251) | $ (600) | $ (3,558) | $ 12,608 | $ 2,849 | $ (4,158) | $ 22,902 | $ 6,832 | $ (6,409) | 31,522 | $ 12,741 | $ (4,418) | ||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Blandford MOB | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 2,580 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Cardwell MOB | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 8,444 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Dacono Neighborhood Health | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 5,152 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Franciscan Health | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 9,772 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Grand Island Specialty Clinic | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 2,891 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Hot Springs MOB | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 3,626 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Jewish Medical Center East | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 85,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Jewish Medical Center South MOB - 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 17,021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Jewish Medical Plaza I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 9,650 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Jewish Medical Plaza II | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 6,124 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Jewish OCC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 35,600 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Lakeside Three Professional Center | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 1,581 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Lexington Surgery Center | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 20,169 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Medical Arts Pavilion | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 6,304 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Memorial Outpatient Center | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 4,958 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Midlands Two Professional Center | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 1,341 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Parkview MOB | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 5,060 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Peak One ASC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 6,587 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Physicians Medical Center | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 6,782 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | St. Alexius - Minot Medical Plaza | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 26,570 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | St. Clare Medical Pavilion | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 10,617 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | St. Joseph Medical Pavilion | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 13,320 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | St. Joseph Office Park | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 17,228 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | St. Mary - Caritas Medical II | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 5,603 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | St. Mary - Caritas Medical III | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 842 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Thornton Neighborhood Health | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 3,875 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | St. Francis MOB | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 14,287 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Good Samaritan North Annex Building | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 2,874 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | NE Heart Institute Medical Building | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 19,600 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | St. Vincent West MOB | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 14,120 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Meridan MOB | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 17,329 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | St. Mary - Caritas Medical I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 8,864 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | St. Alexius - Medical Arts Pavilion | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 12,983 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | St. Alexius - Mandan Clinic | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 8,390 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | St. Alexius - Orthopaedic Center | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 14,727 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | St. Alexius - Rehab Center | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 6,215 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | St. Alexius - Tech & Ed | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 16,680 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Good Samaritan MOB | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 24,198 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Lakeside Two Professional Building | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 13,691 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Lakeside Wellness Center | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 10,138 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | McAuley Center | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 18,382 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Memorial Health Center | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 34,042 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Missionary Ridge MOB | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 7,635 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | St. Joseph Medical Clinic | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 16,444 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Woodlands Medical Arts Center | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 21,227 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | FESC MOB | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 16,748 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Springwoods MOB | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 19,925 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Gig Harbor Medical Pavilion | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | 4,766 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHI Portfolio | Midlands One Professional Center | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 14,856 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Term Loan Receivable | Real Estate Loan - El Paso [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Secured loans on real estate, loan amount | $ 1,300 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mezzanine Loan Receivable | Mezzanine Loan - Hazelwood MOB [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Secured loans on real estate, loan amount | $ 3,375 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Units | Physicians Medical Plaza MOB [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of units issued for funding purchase price (in shares) | shares | 174,085 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Value of units issued for funding purchase price | $ 2,900 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Units | Operating Partnership | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of units issued for funding purchase price (in shares) | shares | 174,085 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Value of units issued for funding purchase price | $ 2,900 | $ 2,900 | $ 2,900 | $ 2,900 | $ 2,900 |
- 2015 Acquisitions (Details)
- 2015 Acquisitions (Details) $ in Thousands | Dec. 16, 2016USD ($) | Aug. 08, 2016USD ($) | 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 ($) | Oct. 30, 2015USD ($) | Oct. 19, 2015USD ($) | Oct. 16, 2015USD ($) | 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 ($) | Feb. 17, 2015properties | Sep. 30, 2016USD ($) | Jun. 30, 2016USD ($) | Mar. 31, 2016USD ($) | Sep. 30, 2015USD ($) | Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Sep. 30, 2014USD ($) | Jun. 30, 2014USD ($) | Mar. 31, 2014USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2014USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Dec. 31, 2016USD ($)statesbuildingsshares | Dec. 31, 2015USD ($)propertiesstatesbuildings | Dec. 31, 2014USD ($) |
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Investment in Unconsolidated Entity | $ 903 | $ 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of operating healthcare properties | properties | 66 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of states in which operating healthcare properties and land parcel located | states | 23 | 22 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 1,285,185 | $ 840,958 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Value of units issued for funding purchase price | 20,980 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition costs capitalized | 3,000 | 400 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition expenses | $ 14,778 | 14,893 | $ 10,897 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue of acquired since acquisition | 41,400 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income of acquiree since acquisition | 10,600 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Properties [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 818,600 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Flower Mound Portfolio [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 27,800 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of medical office buildings | buildings | 3,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unity Portfolio [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 28,751 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of medical office buildings | buildings | 4,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Operating Partnership | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition price | $ 8,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition expenses | $ 4,398 | $ 3,256 | $ 3,377 | $ 3,257 | $ 2,575 | $ 5,932 | $ 2,922 | $ 2,045 | $ 4,287 | $ 6,633 | $ 8,507 | $ 6,332 | $ 11,031 | $ 11,764 | $ 9,254 | $ 14,778 | $ 14,893 | $ 10,897 | ||||||||||||||||||||||||||||||||||||||||||||||
Operating Partnership | Units | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of units issued for funding purchase price (in shares) | shares | 174,085 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Value of units issued for funding purchase price | $ 2,900 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan investments | $ 10,200 | $ 22,400 |
Acquisitions and Dispositions60
Acquisitions and Dispositions - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Fair values of the assets acquired and the liabilities assumed | ||
Land | $ 57,847 | $ 52,224 |
Building and improvements | 1,112,746 | 643,470 |
Lease inducement | 8,945 | 2,478 |
Contingent consideration | (156) | (2,718) |
Receivable | 104 | 3,564 |
Debt assumed | 0 | (18,690) |
Prepaid expenses | 2,659 | 0 |
Issuance of Common Shares | (20,980) | 0 |
Issuance of OP Units | (2,869) | (10,973) |
Issuance of Series A Preferred Units | 0 | (29,403) |
Noncontrolling interest | (50) | (13,970) |
Net assets acquired | 1,250,949 | 755,285 |
In-place lease intangible | ||
Fair values of the assets acquired and the liabilities assumed | ||
Intangible assets | 58,666 | 99,763 |
Above market in-place lease intangible | ||
Fair values of the assets acquired and the liabilities assumed | ||
Intangible assets | 9,359 | 19,337 |
Below market in-place lease intangible | ||
Fair values of the assets acquired and the liabilities assumed | ||
Intangible liabilities | (4,518) | (3,738) |
Above market in-place ground lease | ||
Fair values of the assets acquired and the liabilities assumed | ||
Intangible liabilities | (644) | 0 |
Below market in-place ground lease | ||
Fair values of the assets acquired and the liabilities assumed | ||
Intangible liabilities | $ 28,937 | $ 13,941 |
Acquisitions and Dispositions61
Acquisitions and Dispositions - Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2014 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | |||||||||||||||||||
Revenue | $ 303,590 | $ 258,657 | |||||||||||||||||
Net income | 47,154 | 37,288 | |||||||||||||||||
Net income available to common shareholders | $ 43,372 | $ 34,090 | |||||||||||||||||
Earnings per share basic (in dollars per share) | $ 0.34 | $ 0.27 | |||||||||||||||||
Earnings per share diluted (in dollars per share) | $ 0.34 | $ 0.27 | |||||||||||||||||
Weighted average common shares - basic (in shares) | 135,581,976 | 134,608,396 | 131,481,329 | 102,704,008 | 83,761,536 | 71,034,747 | 70,376,959 | 65,649,478 | 33,063,093 | ||||||||||
Weighted average common shares - diluted (in shares) | 139,602,349 | 138,880,787 | 135,944,722 | 107,148,380 | 87,911,097 | 75,104,821 | 74,267,284 | 65,649,478 | 130,466,893 | 76,792,073 | 33,063,093 | ||||||||
Weighted average common units - basic (in shares) | 129,835,209 | 76,459,218 | 36,881,712 | ||||||||||||||||
Weighted average common units - diluted (in shares) | 130,466,893 | 76,792,073 | 36,881,712 | ||||||||||||||||
Operating Partnership | |||||||||||||||||||
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | |||||||||||||||||||
Revenue | $ 303,590 | $ 258,657 | |||||||||||||||||
Net income | 47,154 | 37,288 | |||||||||||||||||
Net income available to common shareholders | $ 44,580 | $ 35,720 | |||||||||||||||||
Earnings per unit basic (in dollars per share) | $ 0.34 | $ 0.28 | |||||||||||||||||
Earnings per unit diluted (in dollars per share) | $ 0.34 | $ 0.27 | |||||||||||||||||
Weighted average common shares - basic (in shares) | 126,143,114 | 72,750,724 | 33,063,093 | ||||||||||||||||
Weighted average common shares - diluted (in shares) | 130,466,893 | 76,792,073 | 33,063,093 | ||||||||||||||||
Weighted average common units - basic (in shares) | 139,018,183 | 138,227,384 | 135,351,672 | 106,550,467 | 87,565,282 | 74,864,677 | 74,075,323 | 69,146,712 | 40,898,015 | 29,962,046 | 120,951,069 | 71,624,633 | 27,493,474 | 126,751,876 | 72,716,516 | 32,010,755 | 129,835,209 | 76,459,218 | 36,881,712 |
Weighted average common units - diluted (in shares) | 139,602,249 | 138,880,787 | 135,944,722 | 107,148,380 | 87,911,097 | 75,104,821 | 74,267,284 | 69,146,712 | 40,898,015 | 29,962,046 | 121,575,247 | 71,862,249 | 27,493,474 | 127,395,989 | 73,040,846 | 32,010,755 | 130,466,893 | 76,792,073 | 36,881,712 |
Intangibles - (Details)
Intangibles - (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Finite-Lived Intangible Assets [Line Items] | |
Impairment of intangible items, net income impact | $ 0 |
Weighted average amortization period for lease intangibles | 18 years |
Weighted average amortization period for lease intangible liability | 12 years |
In-place leases | |
Finite-Lived Intangible Assets [Line Items] | |
Finite-lived intangible assets, disposals | $ 2.3 |
Impairment of intangible assets, accumulated amortization | 1 |
Impairment of intangible assets | (1.3) |
Above market leases | |
Finite-Lived Intangible Assets [Line Items] | |
Impairment of intangible assets, accumulated amortization | 0.5 |
Impairment of intangible assets | 0.7 |
Below market in-place lease | |
Finite-Lived Intangible Assets [Line Items] | |
Impairment of intangible liabilities | 0.3 |
Impairment of intangible liabilities, accumulated accretion | $ 0.1 |
Intangibles - Carrying Amount o
Intangibles - Carrying Amount of Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Finite-Lived Intangible Assets [Line Items] | ||
Cost | $ 301,462 | $ 205,168 |
Accumulated Amortization | (63,177) | (30,008) |
Net | 238,285 | 175,160 |
Liability | ||
Cost | 11,642 | 6,769 |
Accumulated Amortization | (2,389) | (819) |
Net | 9,253 | 5,950 |
In-place leases | ||
Finite-Lived Intangible Assets [Line Items] | ||
Cost | 222,394 | 163,728 |
Accumulated Amortization | (55,605) | (26,702) |
Net | 166,789 | 137,026 |
Above market leases | ||
Finite-Lived Intangible Assets [Line Items] | ||
Cost | 35,478 | 26,787 |
Accumulated Amortization | (6,909) | (3,174) |
Net | 28,569 | 23,613 |
Leasehold interest | ||
Finite-Lived Intangible Assets [Line Items] | ||
Cost | 712 | 712 |
Accumulated Amortization | (124) | (64) |
Net | 588 | 648 |
Below Market Ground Lease | ||
Finite-Lived Intangible Assets [Line Items] | ||
Cost | 42,878 | 13,941 |
Accumulated Amortization | (539) | (68) |
Net | 42,339 | 13,873 |
Below market in-place lease | ||
Liability | ||
Below market lease, cost | 10,297 | 6,068 |
Below market lease, accumulated amortization | (2,345) | (799) |
Below Market Lease, Net | 7,952 | 5,269 |
Below market in-place ground lease | ||
Liability | ||
Cost | 1,345 | 701 |
Accumulated Amortization | (44) | (20) |
Net | $ 1,301 | $ 681 |
Intangibles - Acquired Lease In
Intangibles - Acquired Lease Intangible Amortization (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
In-place leases | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization expense related to in-place leases | $ 28,902 | $ 15,300 | $ 4,133 |
Above market leases | |||
Finite-Lived Intangible Assets [Line Items] | |||
Decrease of rental income | 4,403 | 2,596 | 530 |
Leasehold interest | |||
Finite-Lived Intangible Assets [Line Items] | |||
Decrease of rental income | 59 | 59 | 5 |
Below market in-place lease | |||
Finite-Lived Intangible Assets [Line Items] | |||
Increase of rental income | 1,835 | 643 | 156 |
Below market in-place ground lease | |||
Finite-Lived Intangible Assets [Line Items] | |||
Decrease (increase) of operating expense | 24 | 16 | 4 |
Below Market Ground Lease | |||
Finite-Lived Intangible Assets [Line Items] | |||
Decrease (increase) of operating expense | $ 471 | $ 68 | $ 0 |
Intangibles - Amortization of A
Intangibles - Amortization of Acquired Lease Intangibles (Details) $ in Thousands | Dec. 31, 2016USD ($) |
Future aggregate net amortization of acquired lease intangibles (Net decrease in Revenue) | |
2,017 | $ (2,311) |
2,018 | (2,217) |
2,019 | (2,344) |
2,020 | (2,434) |
2,021 | (2,477) |
Thereafter | (9,422) |
Total | (21,205) |
Future aggregate net amortization of acquired lease intangibles (Net Increase in Expenses) | |
2,017 | 30,305 |
2,018 | 26,169 |
2,019 | 21,803 |
2,020 | 19,426 |
2,021 | 17,999 |
Thereafter | 92,125 |
Total | $ 207,827 |
Other Assets - Additional Infor
Other Assets - Additional Information (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Other Assets, Unclassified [Abstract] | ||
Straight line rent receivable | $ 32,018 | $ 15,584 |
Notes receivable | 16,618 | 20,620 |
Interest rate swap | 13,881 | 0 |
Lease inducements, net | 13,255 | 4,970 |
Prepaid expenses | 8,928 | 4,181 |
Escrows | 4,334 | 4,788 |
Leasing commissions, net | 1,858 | 1,052 |
Earnest deposits | 1,500 | 343 |
Other | 2,795 | 1,745 |
Total | $ 95,187 | $ 53,283 |
Debt - (Details)
Debt - (Details) - USD ($) | Jul. 07, 2016 | Jun. 10, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Aug. 11, 2016 | Jun. 09, 2016 | Jan. 07, 2016 |
Debt | |||||||
Maturity date | Jun. 10, 2023 | ||||||
Debt, gross | $ 999,194,000 | $ 488,926,000 | |||||
Interest expense, debt | 21,500,000 | 9,300,000 | |||||
Credit Agreement Amendment | |||||||
Debt | |||||||
Current borrowing capacity | $ 1,100,000,000 | ||||||
Maximum borrowing capacity as a percentage of maximum principal amount | 10.00% | ||||||
Increase in maximum borrowing capacity | $ 500,000,000 | ||||||
Maximum borrowing capacity | $ 1,600,000,000 | ||||||
Unused fee (as a percent) | 0.25% | ||||||
Prepayment of premium percentage, maximum | 2.00% | ||||||
Series A | |||||||
Debt | |||||||
Effective fixed interest rate | 4.09% | 4.03% | |||||
Series B | |||||||
Debt | |||||||
Effective fixed interest rate | 4.18% | 4.43% | |||||
Series C | |||||||
Debt | |||||||
Effective fixed interest rate | 4.57% | ||||||
Series D | |||||||
Debt | |||||||
Effective fixed interest rate | 4.74% | ||||||
LIBOR | Credit Agreement Amendment | |||||||
Debt | |||||||
Reference rate (as a percent) | 1.20% | ||||||
Unsecured Debt | Unsecured Term Loan Due June 2023 | |||||||
Debt | |||||||
Debt, gross | $ 250,000,000 | $ 0 | |||||
Unsecured Debt | LIBOR | Unsecured Term Loan Due June 2023 | |||||||
Debt | |||||||
Reference rate (as a percent) | 1.80% | 1.80% | |||||
Senior Notes | |||||||
Debt | |||||||
Total mortgage debt | $ 75,000,000 | $ 150,000,000 | |||||
Senior Notes | Series A | |||||||
Debt | |||||||
Total mortgage debt | 25,000,000 | 15,000,000 | |||||
Senior Notes | Series B | |||||||
Debt | |||||||
Total mortgage debt | 25,000,000 | 45,000,000 | |||||
Senior Notes | Series C | |||||||
Debt | |||||||
Total mortgage debt | $ 25,000,000 | 45,000,000 | |||||
Effective fixed interest rate | 4.24% | ||||||
Senior Notes | Series D | |||||||
Debt | |||||||
Total mortgage debt | $ 45,000,000 | ||||||
Term Loan | |||||||
Debt | |||||||
Amount outstanding | $ 250,000,000 | ||||||
Term Loan | Credit Agreement Amendment | |||||||
Debt | |||||||
Current borrowing capacity | $ 250,000,000 | ||||||
Debt instrument, term | 7 years | ||||||
Credit Agreement | |||||||
Debt | |||||||
Current borrowing capacity | 448,900,000 | ||||||
Amount outstanding | $ 401,000,000 | ||||||
Term of extension option | 1 year | ||||||
Minimum | Credit Agreement | Credit Agreement Amendment | |||||||
Debt | |||||||
Current borrowing capacity | $ 750,000,000 | ||||||
Maximum | Credit Agreement | Credit Agreement Amendment | |||||||
Debt | |||||||
Current borrowing capacity | $ 850,000,000 | ||||||
Interest Rate Swaps | Unsecured Debt | LIBOR | |||||||
Debt | |||||||
Fixed interest rate | 1.07% | ||||||
Effective fixed interest rate | 2.87% | ||||||
Operating Partnership | Credit Agreement | |||||||
Debt | |||||||
Debt instrument, interest rate, effective percentage | 3.09% | 2.28% | |||||
Operating Partnership | Credit Agreement | LIBOR | |||||||
Debt | |||||||
Reference rate (as a percent) | 0.716% | 0.358% |
Debt - Summary of Debt (Details
Debt - Summary of Debt (Details) $ in Thousands | Jul. 07, 2016Rate | Jun. 30, 2016Rate | Dec. 31, 2016USD ($)healthcarepropertyRate | Dec. 31, 2015USD ($)propertiesRate |
Debt | ||||
Debt, gross | $ 999,194 | $ 488,926 | ||
Unamortized deferred financing cost | 8,477 | 5,985 | ||
Unamortized fair value adjustment | 438 | 674 | ||
Total debt | 991,155 | 483,615 | ||
Mortgages | ||||
Debt | ||||
Debt, gross | 123,194 | $ 93,926 | ||
Weighted average interest rate (as a percent) | Rate | 2.75% | |||
Interest Rate Swaps | Unsecured Debt | LIBOR | ||||
Debt | ||||
Effective fixed interest rate | Rate | 2.87% | |||
Fixed interest rate | Rate | 1.07% | |||
Mortgage Notes Bearing Fixed Interest Rate | Mortgages | ||||
Debt | ||||
Debt, gross | $ 90,185 | $ 89,664 | ||
Weighted average interest rate (as a percent) | 5.44% | 5.40% | ||
Number of properties included in collateralized | 11 | 11 | ||
Net book value of properties included in the collateralized | $ 156,700 | $ 145,000 | ||
Mortgage Notes Bearing Fixed Interest Rate | Mortgages | Minimum | ||||
Debt | ||||
Effective fixed interest rate | Rate | 4.71% | 4.71% | ||
Mortgage Notes Bearing Fixed Interest Rate | Mortgages | Maximum | ||||
Debt | ||||
Effective fixed interest rate | Rate | 6.58% | 6.58% | ||
Mortgage Notes Bearing Variable Interest | Mortgages | ||||
Debt | ||||
Debt, gross | $ 33,009 | $ 4,262 | ||
Mortgage Notes Bearing Variable Interest Due in 2017 and 2018 | Mortgages | ||||
Debt | ||||
Weighted average interest rate (as a percent) | Rate | 3.68% | |||
Number of properties included in collateralized | healthcareproperty | 4 | |||
Net book value of properties included in the collateralized | $ 45,600 | |||
Mortgage Notes Bearing Variable Interest Due in 2017 and 2018 | Mortgages | Minimum | LIBOR | ||||
Debt | ||||
Reference rate (as a percent) | Rate | 2.25% | |||
Mortgage Notes Bearing Variable Interest Due in 2017 and 2018 | Mortgages | Maximum | LIBOR | ||||
Debt | ||||
Reference rate (as a percent) | 3.25% | |||
Mortgage Notes Bearing Variable Interest Due in 2017 | Mortgages | ||||
Debt | ||||
Number of properties included in collateralized | properties | 1 | |||
Net book value of properties included in the collateralized | $ 5,900 | |||
Revolving Credit Facility Due September 2020 | Credit Agreement | ||||
Debt | ||||
Debt, gross | 401,000 | 395,000 | ||
Unsecured Term Loan Due June 2023 | Unsecured Debt | ||||
Debt | ||||
Debt, gross | $ 250,000 | 0 | ||
Unsecured Term Loan Due June 2023 | Unsecured Debt | LIBOR | ||||
Debt | ||||
Reference rate (as a percent) | 1.80% | 1.80% | ||
Unsecured Notes Bearing Fixed Interest Due January 2023 to 2031 | Senior Notes | ||||
Debt | ||||
Debt, gross | $ 150,000 | 0 | ||
Senior Unsecured Notes Due August 2025 to 2027 | Senior Notes | ||||
Debt | ||||
Debt, gross | $ 75,000 | $ 0 |
Debt - Investment Grade Rating
Debt - Investment Grade Rating Schedule (Details) | Sep. 30, 2016 | Dec. 31, 2016 |
Credit rating at least A- or A3 | Adjusted LIBOR Rate Loans and Letter of Credit | LIBOR | ||
Debt | ||
Reference rate (as a percent) | 0.85% | |
Credit rating at least A- or A3 | Adjusted LIBOR Rate Term Loans and Letter Of Credit | LIBOR | ||
Debt | ||
Reference rate (as a percent) | 1.40% | |
Credit rating at least BBBplus or BAA1 | Adjusted LIBOR Rate Loans and Letter of Credit | LIBOR | ||
Debt | ||
Reference rate (as a percent) | 0.90% | |
Credit rating at least BBBplus or BAA1 | Adjusted LIBOR Rate Term Loans and Letter Of Credit | LIBOR | ||
Debt | ||
Reference rate (as a percent) | 1.45% | |
Credit rating at least BBB or BAA2 | Adjusted LIBOR Rate Loans and Letter of Credit | LIBOR | ||
Debt | ||
Reference rate (as a percent) | 1.00% | |
Credit rating at least BBB or BAA2 | Adjusted LIBOR Rate Term Loans and Letter Of Credit | LIBOR | ||
Debt | ||
Reference rate (as a percent) | 1.55% | |
Credit rating at least BBB- or BAA3 | Adjusted LIBOR Rate Loans and Letter of Credit | LIBOR | ||
Debt | ||
Reference rate (as a percent) | 1.20% | |
Credit rating at least BBB- or BAA3 | Adjusted LIBOR Rate Term Loans and Letter Of Credit | LIBOR | ||
Debt | ||
Reference rate (as a percent) | 1.80% | |
Credit rating below BBB- or BAA3 | Adjusted LIBOR Rate Loans and Letter of Credit | LIBOR | ||
Debt | ||
Reference rate (as a percent) | 1.55% | |
Credit rating below BBB- or BAA3 | Adjusted LIBOR Rate Term Loans and Letter Of Credit | LIBOR | ||
Debt | ||
Reference rate (as a percent) | 2.25% | |
Credit Agreement | Credit rating at least A- or A3 | Base Rate Loans | Base Rate | ||
Debt | ||
Reference rate (as a percent) | 0.00% | |
Credit Agreement | Credit rating at least BBBplus or BAA1 | Base Rate Loans | Base Rate | ||
Debt | ||
Reference rate (as a percent) | 0.00% | |
Credit Agreement | Credit rating at least BBB or BAA2 | Base Rate Loans | Base Rate | ||
Debt | ||
Reference rate (as a percent) | 0.10% | |
Credit Agreement | Credit rating at least BBB- or BAA3 | Base Rate Loans | Base Rate | ||
Debt | ||
Reference rate (as a percent) | 0.20% | |
Credit Agreement | Credit rating below BBB- or BAA3 | Base Rate Loans | Base Rate | ||
Debt | ||
Reference rate (as a percent) | 0.60% | |
Term Loan | Credit rating at least A- or A3 | Base Rate Loans | Base Rate | ||
Debt | ||
Reference rate (as a percent) | 0.40% | |
Term Loan | Credit rating at least BBBplus or BAA1 | Base Rate Loans | Base Rate | ||
Debt | ||
Reference rate (as a percent) | 0.45% | |
Term Loan | Credit rating at least BBB or BAA2 | Base Rate Loans | Base Rate | ||
Debt | ||
Reference rate (as a percent) | 0.55% | |
Term Loan | Credit rating at least BBB- or BAA3 | Base Rate Loans | Base Rate | ||
Debt | ||
Reference rate (as a percent) | 0.80% | |
Term Loan | Credit rating below BBB- or BAA3 | Base Rate Loans | Base Rate | ||
Debt | ||
Reference rate (as a percent) | 1.25% |
Debt - Principal Payments Due o
Debt - Principal Payments Due on Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Scheduled principal payments | ||
2,017 | $ 38,615 | |
2,018 | 39,855 | |
2,019 | 20,162 | |
2,020 | 406,603 | |
2,021 | 7,644 | |
Thereafter | 486,315 | |
Total Payments | $ 999,194 | $ 488,926 |
Derivatives - (Details)
Derivatives - (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2016USD ($)instruments | |
Derivative [Line Items] | |
Number of derivative instruments | 6 |
Cash Flow Hedging | Interest Rate Swaps | |
Derivative [Line Items] | |
Number of derivative instruments | 5 |
Gain, hedge ineffectiveness | $ | $ 0.2 |
Derivatives - Fair Value Intere
Derivatives - Fair Value Interest Rate Swaps (Details) - USD ($) $ in Thousands | Jul. 07, 2016 | Dec. 31, 2016 | Dec. 31, 2015 |
Derivative [Line Items] | |||
Total notional amount | $ 250,000 | ||
Effective date | Jul. 7, 2016 | ||
Maturity date | Jun. 10, 2023 | ||
Reported Value Measurement | Recurring | Interest Rate Swaps | |||
Derivative [Line Items] | |||
Asset balance at December 31, 2016 (included in Other assets) | $ 13,881 | $ 0 | |
Unsecured Debt | LIBOR | Interest Rate Swaps | |||
Derivative [Line Items] | |||
Effective fixed interest rate | 2.87% | ||
Effective fixed interest rate | 1.07% | ||
Unsecured Debt | Unsecured Term Loan Due June 2023 | LIBOR | |||
Derivative [Line Items] | |||
Derivative, basis spread on variable rate | 1.80% | 1.80% |
Accrued Expenses and Other Li73
Accrued Expenses and Other Liabilities - (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Other Liabilities Disclosure [Abstract] | ||
Real estate taxes payable | $ 9,300 | $ 2,349 |
Accrued incentive compensation | 5,834 | 2,778 |
Real estate taxes payable | 5,571 | 8,149 |
Tenant improvement allowance | 5,315 | 1,184 |
Accrued interest | 4,905 | 22 |
Security deposits | 4,506 | 4,038 |
Accrued incentive compensation | 1,405 | 900 |
Contingent consideration | 1,392 | 2,559 |
Accrued expenses and other | 4,059 | 2,494 |
Total | $ 42,287 | $ 24,473 |
Stock-based Compensation - (Det
Stock-based Compensation - (Details) - USD ($) $ / shares in Units, $ in Thousands | Aug. 07, 2014 | Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Jul. 24, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Non-cash share compensation | $ 4,894 | $ 3,798 | $ 2,422 | |||||
2013 Plan | Restricted common shares | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Number of shares authorized | 2,450,000 | 600,000 | ||||||
Number of additional shares authorized | 1,850,000 | |||||||
Granted (in shares) | 155,306 | 162,522 | 152,987 | |||||
Share-based compensation, gross | $ 2,800 | $ 2,600 | $ 2,100 | |||||
Non-cash share compensation | 3,600 | 2,900 | 2,200 | |||||
Unrecognized compensation expense | $ 1,200 | $ 2,100 | $ 2,400 | |||||
Initial estimated cumulative forfeiture rate (as a percent) | 0.00% | |||||||
Grant date value (in dollars per share) | $ 17.96 | $ 15.95 | $ 13.79 | |||||
2013 Plan | Restricted common shares | Minimum | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Vesting period | 1 year | 1 year | 1 year | |||||
2013 Plan | Restricted common shares | Maximum | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Vesting period | 3 years | 3 years | 3 years | |||||
2013 Plan | Restricted Share Units | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Granted (in shares) | 55,680 | |||||||
Non-cash share compensation | $ 2,100 | $ 900 | $ 300 | |||||
Unrecognized compensation expense | $ 2,800 | $ 1,600 | $ 700 | |||||
Volatility | 20.30% | 20.70% | ||||||
2013 Plan | Restricted Share Units | Minimum | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Volatility | 18.80% | |||||||
2013 Plan | Restricted Share Units | Maximum | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Volatility | 34.20% | |||||||
2013 Plan | Performance based restricted stock units | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Percentage of shares awarded | 20.00% | 20.00% | ||||||
Grant date value (in dollars per share) | $ 26.33 | $ 19.22 | $ 16.94 | |||||
Grant date fair value (in dollars per share) | $ 17.67 | $ 15.87 | $ 13.47 | |||||
Officer | 2013 Plan | Restricted Share Units | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Granted (in shares) | 104,553 | 75,250 | ||||||
Vesting period | 3 years | 3 years | ||||||
Officer | 2013 Plan | Market Based RSU | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Percentage of shares awarded | 80.00% | 80.00% | 80.00% | |||||
Grant date value (in dollars per share) | $ 28.50 | $ 20.06 | $ 19.25 | |||||
Trustees | 2013 Plan | Restricted Share Units | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Granted (in shares) | 36,784 | 40,957 | ||||||
Vesting period | 2 years | |||||||
Number of dividend equivalent included in award | 1 |
Stock-based Compensation - Summ
Stock-based Compensation - Summary of Non-Vested Restricted Common Shares (Details) - 2013 Plan - Restricted common shares - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Shares | |||
Non-vested at the beginning of the period (in shares) | 311,839 | 319,654 | 250,000 |
Granted (in shares) | 155,306 | 162,522 | 152,987 |
Vested (in shares) | (170,034) | (170,337) | (83,333) |
Forfeited (in shares) | (326) | ||
Non-vested at the beginning of the period (in shares) | 296,785 | 311,839 | 319,654 |
Weighted Average Grant Date Fair Value | |||
Non-vested at beginning of period (in dollars per share) | $ 14.17 | $ 12.60 | $ 11.50 |
Grant date value (in dollars per share) | 17.96 | 15.95 | 13.79 |
Vested (in dollars per share) | 14.16 | 12.93 | 11.50 |
Forfeited (in dollars per share) | 15.36 | ||
Non-vested at beginning of period (in dollars per share) | $ 16.16 | $ 14.17 | $ 12.60 |
Stock-based Compensation - Weig
Stock-based Compensation - Weighted Average Grant Date Fair Value Assumptions (Details) - 2013 Plan - Restricted Share Units - $ / shares | 1 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Volatility | 20.30% | 20.70% | |
Expected term in years | 2 years 9 months 18 days | 2 years 9 months 18 days | 2 years 9 months 18 days |
Risk-free rate | 1.07% | 1.14% | 0.65% |
Stock price (per share) | $ 17.67 | $ 15.87 | $ 13.47 |
Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Volatility | 18.80% | ||
Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Volatility | 34.20% |
Stock-based Compensation - Trus
Stock-based Compensation - Trust Restricted Share Activity (Details) - 2013 Plan - $ / shares | 1 Months Ended | 12 Months Ended | |||
Mar. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Restricted Share Units | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Granted (in shares) | 55,680 | ||||
Executive Awards, Restricted Stock Units (RSUs) | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Non-vested at the beginning of the period (in shares) | 235,483 | 130,930 | 55,680 | 0 | |
Non-vested at beginning of period (in dollars per share) | $ 21.84 | $ 18.48 | $ 16.94 | $ 0 | |
Granted (in shares) | 104,553 | 75,250 | 55,680 | ||
Grant date value (in dollars per share) | $ 26.33 | $ 19.22 | $ 16.94 | ||
Vested (in shares) | 0 | ||||
Vested (in dollars per share) | $ 0 | ||||
Trustee Awards, Restricted Stock Units (RSUs) | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Non-vested at the beginning of the period (in shares) | 57,260 | 40,957 | 0 | 0 | |
Non-vested at beginning of period (in dollars per share) | $ 17.03 | $ 15.87 | $ 0 | $ 0 | |
Granted (in shares) | 36,784 | 40,957 | 0 | ||
Grant date value (in dollars per share) | $ 17.67 | $ 15.87 | $ 0 | ||
Vested (in shares) | (20,481) | ||||
Vested (in dollars per share) | $ 15.87 |
Fair Value Measurements - (Deta
Fair Value Measurements - (Details) | Dec. 31, 2016USD ($)instruments |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Number of derivative instruments | 6 |
Embedded Derivative Financial Instruments | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Number of derivative instruments | 1 |
Cash Flow Hedging | Interest Rate Swaps | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Number of derivative instruments | 5 |
Fair Value, Measurements, Nonrecurring | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Assets subject to impairment measured at fair value | $ | $ 0 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Value Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Assets: | ||
Notes receivable | $ 16,618 | $ 20,620 |
Liabilities: | ||
Credit facility | (643,742) | (389,375) |
Notes payable | (224,330) | 0 |
Recurring | Reported Value Measurement | ||
Assets: | ||
Real estate loans receivable | 39,154 | 39,349 |
Notes receivable | 16,618 | 20,620 |
Liabilities: | ||
Credit facility | (651,000) | (395,000) |
Notes payable | (225,000) | 0 |
Mortgage debt | (123,632) | (94,600) |
Recurring | Reported Value Measurement | Interest Rate Swaps | ||
Assets: | ||
Derivative assets | 13,881 | 0 |
Recurring | Reported Value Measurement | Embedded Derivative Financial Instruments | ||
Liabilities: | ||
Derivative liabilities | (5,571) | (8,216) |
Recurring | Estimate of Fair Value Measurement | ||
Assets: | ||
Real estate loans receivable | 39,154 | 39,349 |
Notes receivable | 16,618 | 20,620 |
Liabilities: | ||
Credit facility | (651,000) | (395,000) |
Notes payable | (214,584) | 0 |
Mortgage debt | (125,420) | (95,275) |
Recurring | Estimate of Fair Value Measurement | Interest Rate Swaps | ||
Assets: | ||
Derivative assets | (13,881) | 0 |
Recurring | Estimate of Fair Value Measurement | Embedded Derivative Financial Instruments | ||
Liabilities: | ||
Derivative liabilities | $ (5,571) | $ (8,216) |
Tenant Operating Leases - (Deta
Tenant Operating Leases - (Details) $ in Thousands | Dec. 31, 2016USD ($) |
Future minimum rental payments on non-cancelable leases | |
2,017 | $ 217,877 |
2,018 | 213,420 |
2,019 | 208,518 |
2,020 | 203,403 |
2,021 | 197,097 |
Thereafter | 1,172,669 |
Total | $ 2,212,984 |
Rent Expense - (Details)
Rent Expense - (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016USD ($)propertieshealthcareproperty | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Leases [Abstract] | |||
Number of properties pursuant to parking lease | 3 | ||
Number of properties subject to air space lease | healthcareproperty | 1 | ||
Number of properties pursuant to ground leases | 58 | ||
Number of office space leases | 3 | ||
Maximum lease terms | 99 years | ||
Rent expenses for parking and ground leases | $ | $ 1.9 | $ 1.3 | $ 0.9 |
Rent Expense - Schedule of Mini
Rent Expense - Schedule of Minimum Lease Obligations (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($)properties | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Leases [Abstract] | |||
Number of properties pursuant to ground leases | properties | 58 | ||
Number of properties pursuant to parking lease | properties | 3 | ||
Maximum lease terms | 99 years | ||
Future minimum lease obligations under non-cancelable ground leases | |||
2,017 | $ 2,408 | ||
2,018 | 2,456 | ||
2,019 | 2,475 | ||
2,020 | 2,478 | ||
2,021 | 2,536 | ||
Thereafter | 67,233 | ||
Total | 79,586 | ||
Rent expenses for parking and ground leases | $ 1,900 | $ 1,300 | $ 900 |
Credit Concentration - (Details
Credit Concentration - (Details) - Sales Revenue, Services, Net | 12 Months Ended |
Dec. 31, 2016Rate | |
Concentration Risk [Line Items] | |
Concentration risk, percentage | 100.00% |
Top five tenant relationships | Customer Concentration Risk | |
Concentration Risk [Line Items] | |
Concentration risk, percentage | 17.30% |
CHI Portfolio | Customer Concentration Risk | |
Concentration Risk [Line Items] | |
Concentration risk, percentage | 17.40% |
Credit Concentration - Top Five
Credit Concentration - Top Five Tenant Credit Concentrations (Details) - Sales Revenue, Services, Net $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($)Rate | |
Concentration Risk [Line Items] | |
Total ABR | $ | $ 219,129 |
Percent of ABR | Rate | 100.00% |
CHI - KentuckyOne Health | Customer Concentration Risk | |
Concentration Risk [Line Items] | |
Total ABR | $ | $ 12,805 |
Percent of ABR | Rate | 5.80% |
CHI - Nebraska | Customer Concentration Risk | |
Concentration Risk [Line Items] | |
Total ABR | $ | $ 9,275 |
Percent of ABR | Rate | 4.20% |
CHI - Franciscan (Seattle-Tacoma) | Customer Concentration Risk | |
Concentration Risk [Line Items] | |
Total ABR | $ | $ 5,437 |
Percent of ABR | Rate | 2.50% |
CHI - St. Alexius (North Dakota) | Customer Concentration Risk | |
Concentration Risk [Line Items] | |
Total ABR | $ | $ 5,278 |
Percent of ABR | Rate | 2.40% |
Great Falls Hospital | Customer Concentration Risk | |
Concentration Risk [Line Items] | |
Total ABR | $ | $ 5,151 |
Percent of ABR | Rate | 2.40% |
Remaining portfolio | Customer Concentration Risk | |
Concentration Risk [Line Items] | |
Total ABR | $ | $ 181,183 |
Percent of ABR | Rate | 82.70% |
Credit Concentration - Top Fi85
Credit Concentration - Top Five Geographic Concentrations (Details) - Sales Revenue, Services, Net $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($)Rate | |
Concentration Risk [Line Items] | |
Total ABR | $ | $ 219,129 |
Percent of ABR | Rate | 100.00% |
Texas | Geographic Concentration Risk | |
Concentration Risk [Line Items] | |
Total ABR | $ | $ 26,603 |
Percent of ABR | Rate | 12.10% |
Kentucky | Geographic Concentration Risk | |
Concentration Risk [Line Items] | |
Total ABR | $ | $ 15,459 |
Percent of ABR | Rate | 7.00% |
Arizona | Geographic Concentration Risk | |
Concentration Risk [Line Items] | |
Total ABR | $ | $ 14,161 |
Percent of ABR | Rate | 6.50% |
Indiana | Geographic Concentration Risk | |
Concentration Risk [Line Items] | |
Total ABR | $ | $ 12,848 |
Percent of ABR | Rate | 5.90% |
Ohio | Geographic Concentration Risk | |
Concentration Risk [Line Items] | |
Total ABR | $ | $ 12,822 |
Percent of ABR | Rate | 5.90% |
Other | Geographic Concentration Risk | |
Concentration Risk [Line Items] | |
Total ABR | $ | $ 137,236 |
Percent of ABR | Rate | 62.60% |
Earnings Per Share and Earnin86
Earnings Per Share and Earnings Per Unit - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2014 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||||
Numerator for earnings per share - basic: | ||||||||||||||||||||||||
Net income (loss) | $ 8,620 | $ 10,294 | $ 7,184 | $ 5,424 | $ 5,909 | $ 3,983 | $ 3,297 | $ (448) | $ 31,522 | $ 12,741 | $ (4,418) | |||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interest [Abstract] | ||||||||||||||||||||||||
Operating Partnership | (825) | (576) | 695 | |||||||||||||||||||||
Partially owned properties (1) | [1] | (716) | (377) | (314) | ||||||||||||||||||||
Preferred distributions | (1,857) | (1,189) | 0 | |||||||||||||||||||||
Net income (loss) attributable to common shareholders | 7,825 | 9,427 | 6,486 | 4,386 | 5,146 | 3,404 | 2,571 | (522) | 28,124 | 10,599 | (4,037) | |||||||||||||
Numerator for earnings per unit - basic and diluted | 28,949 | 11,175 | (4,732) | |||||||||||||||||||||
Numerator for earnings per share - diluted: | ||||||||||||||||||||||||
Net income (loss) attributable to common shareholders | $ 7,825 | $ 9,427 | $ 6,486 | $ 4,386 | $ 5,146 | $ 3,404 | $ 2,571 | $ (522) | 28,124 | 10,599 | (4,037) | |||||||||||||
Operating Partnership net income | 825 | 576 | 0 | |||||||||||||||||||||
Numerator for earnings per share - diluted | $ 28,949 | $ 11,175 | $ (4,037) | |||||||||||||||||||||
Denominator for earnings per share - basic and diluted: | ||||||||||||||||||||||||
Weighted average number of shares outstanding - basic (in shares) | 135,581,976 | 134,608,396 | 131,481,329 | 102,704,008 | 83,761,536 | 71,034,747 | 70,376,959 | 65,649,478 | 33,063,093 | |||||||||||||||
Weighted average number of units outstanding - basic (in shares) | 129,835,209 | 76,459,218 | 36,881,712 | |||||||||||||||||||||
Effect of dilutive securities: | ||||||||||||||||||||||||
Weighted average number of shares outstanding - diluted (in shares) | 139,602,349 | 138,880,787 | 135,944,722 | 107,148,380 | 87,911,097 | 75,104,821 | 74,267,284 | 65,649,478 | 130,466,893 | 76,792,073 | 33,063,093 | |||||||||||||
Weighted average number of units outstanding - diluted (in shares) | 130,466,893 | 76,792,073 | 36,881,712 | |||||||||||||||||||||
Earnings per share/unit, basic and diluted: | ||||||||||||||||||||||||
Earnings per share - basic (in dollars per share) | $ 0.06 | $ 0.07 | $ 0.05 | $ 0.04 | $ 0.06 | $ 0.05 | $ 0.04 | $ (0.01) | $ 0.22 | $ 0.15 | $ (0.12) | |||||||||||||
Earnings per share - diluted (in dollars per share) | $ 0.06 | $ 0.07 | $ 0.05 | $ 0.04 | $ 0.06 | $ 0.05 | $ 0.04 | $ (0.01) | 0.22 | 0.15 | (0.12) | |||||||||||||
Earnings per unit - basic (in dollars per share) | 0.22 | 0.15 | (0.12) | |||||||||||||||||||||
Earnings per unit - diluted (in dollars per share) | $ 0.22 | $ 0.15 | $ (0.12) | |||||||||||||||||||||
Restricted shares | ||||||||||||||||||||||||
Effect of dilutive securities: | ||||||||||||||||||||||||
Effect of dilutive securities, restricted shares and RSUs | 205,036 | 190,619 | 0 | |||||||||||||||||||||
Restricted share units | ||||||||||||||||||||||||
Effect of dilutive securities: | ||||||||||||||||||||||||
Effect of dilutive securities, restricted shares and RSUs | 426,648 | 142,236 | 0 | |||||||||||||||||||||
Operating Partnership | ||||||||||||||||||||||||
Numerator for earnings per share - basic: | ||||||||||||||||||||||||
Net income (loss) | $ 8,620 | $ 10,294 | $ 7,184 | $ 5,424 | $ 5,909 | $ 3,983 | $ 3,297 | $ (448) | $ (2,251) | $ (600) | $ (3,558) | $ 12,608 | $ 2,849 | $ (4,158) | $ 22,902 | $ 6,832 | $ (6,409) | $ 31,522 | $ 12,741 | $ (4,418) | ||||
Net Income (Loss) Attributable to Noncontrolling Interest [Abstract] | ||||||||||||||||||||||||
Partially owned properties (1) | (176) | (60) | (317) | (79) | (144) | (32) | (76) | (84) | (66) | (377) | (176) | (150) | (553) | (255) | (226) | (716) | [1] | (377) | [1] | (314) | [1] | |||
Preferred distributions | (436) | (437) | (548) | (300) | (425) | (66) | 0 | 0 | $ 0 | (985) | (491) | 0 | (1,421) | (791) | 0 | (1,857) | (1,189) | 0 | ||||||
Net income (loss) attributable to common shareholders | 8,021 | 9,682 | 6,687 | 4,559 | 5,389 | 3,604 | 2,728 | (546) | (2,327) | (684) | 11,246 | 2,182 | (4,308) | 20,928 | 5,786 | (6,635) | 28,949 | 11,175 | (4,732) | |||||
Numerator for earnings per share - diluted: | ||||||||||||||||||||||||
Net income (loss) attributable to common shareholders | $ 8,021 | $ 9,682 | $ 6,687 | $ 4,559 | $ 5,389 | $ 3,604 | $ 2,728 | $ (546) | $ (2,327) | $ (684) | $ 11,246 | $ 2,182 | $ (4,308) | $ 20,928 | $ 5,786 | $ (6,635) | $ 28,949 | $ 11,175 | $ (4,732) | |||||
Denominator for earnings per share - basic and diluted: | ||||||||||||||||||||||||
Weighted average number of shares outstanding - basic (in shares) | 126,143,114 | 72,750,724 | 33,063,093 | |||||||||||||||||||||
Weighted average number of units outstanding - basic (in shares) | 139,018,183 | 138,227,384 | 135,351,672 | 106,550,467 | 87,565,282 | 74,864,677 | 74,075,323 | 69,146,712 | 40,898,015 | 29,962,046 | 120,951,069 | 71,624,633 | 27,493,474 | 126,751,876 | 72,716,516 | 32,010,755 | 129,835,209 | 76,459,218 | 36,881,712 | |||||
Effect of dilutive securities: | ||||||||||||||||||||||||
Noncontrolling interest - Operating Partnership units | 3,692,095 | 3,708,494 | 0 | |||||||||||||||||||||
Weighted average number of shares outstanding - diluted (in shares) | 130,466,893 | 76,792,073 | 33,063,093 | |||||||||||||||||||||
Weighted average number of units outstanding - diluted (in shares) | 139,602,249 | 138,880,787 | 135,944,722 | 107,148,380 | 87,911,097 | 75,104,821 | 74,267,284 | 69,146,712 | 40,898,015 | 29,962,046 | 121,575,247 | 71,862,249 | 27,493,474 | 127,395,989 | 73,040,846 | 32,010,755 | 130,466,893 | 76,792,073 | 36,881,712 | |||||
Earnings per share/unit, basic and diluted: | ||||||||||||||||||||||||
Earnings per share - basic (in dollars per share) | $ 0.22 | $ 0.15 | $ (0.12) | |||||||||||||||||||||
Earnings per share - diluted (in dollars per share) | 0.22 | 0.15 | (0.12) | |||||||||||||||||||||
Earnings per unit - basic (in dollars per share) | $ 0.06 | $ 0.07 | $ 0.05 | $ 0.04 | $ 0.06 | $ 0.05 | $ 0.04 | $ (0.01) | $ (0.06) | $ (0.02) | $ 0.09 | $ 0.03 | $ (0.15) | $ 0.17 | $ 0.08 | $ (0.21) | 0.22 | 0.15 | (0.12) | |||||
Earnings per unit - diluted (in dollars per share) | $ 0.06 | $ 0.07 | $ 0.05 | $ 0.04 | $ 0.06 | $ 0.05 | $ 0.04 | $ (0.01) | $ (0.06) | $ (0.02) | $ 0.09 | $ 0.03 | $ (0.15) | $ 0.16 | $ 0.08 | $ (0.21) | $ 0.22 | $ 0.15 | $ (0.12) | |||||
Operating Partnership | Restricted shares | ||||||||||||||||||||||||
Effect of dilutive securities: | ||||||||||||||||||||||||
Effect of dilutive securities, restricted shares and RSUs | 205,036 | 190,619 | 0 | |||||||||||||||||||||
Operating Partnership | Restricted share units | ||||||||||||||||||||||||
Effect of dilutive securities: | ||||||||||||||||||||||||
Effect of dilutive securities, restricted shares and RSUs | 426,648 | 142,236 | 0 | |||||||||||||||||||||
[1] | Includes $0.1 million of net income attributable to redeemable noncontrolling interests for the year ended December 31, 2016. No such adjustments are required for the years ended December 31, 2015 and 2014. |
Subsequent Events - Additional
Subsequent Events - Additional Information (Details) $ in Thousands | Feb. 14, 2017USD ($) | Feb. 05, 2017USD ($) | Jan. 31, 2017USD ($)shares | Jan. 12, 2017USD ($)shares | Jan. 11, 2017USD ($) | Jan. 03, 2017USD ($)ft²healthcareproperty | Jan. 01, 2017USD ($) | Dec. 17, 2015USD ($) | Feb. 24, 2017USD ($)ft²healthcareproperty | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($)properties |
Subsequent events | |||||||||||
Number of operating healthcare properties | properties | 66 | ||||||||||
Purchase price | $ 1,285,185 | $ 840,958 | |||||||||
Value of units issued for funding purchase price | $ 20,980 | $ 0 | |||||||||
Nashville MOB | |||||||||||
Subsequent events | |||||||||||
Purchase price | $ 45,440 | ||||||||||
Subsequent Events | |||||||||||
Subsequent events | |||||||||||
Number of operating healthcare properties | healthcareproperty | 4 | ||||||||||
Purchase price | $ 111,800 | ||||||||||
Area of property (in square feet) | ft² | 80,292 | ||||||||||
Mezzanine term loan | $ 2,300 | ||||||||||
Number of transactions | 2 | ||||||||||
Aggregate purchase price | $ 18,200 | ||||||||||
Subsequent Events | Four Healthcare Properties Acquired in Early 2017 | |||||||||||
Subsequent events | |||||||||||
Number of operating healthcare properties | healthcareproperty | 4 | ||||||||||
Purchase price | $ 109,500 | ||||||||||
Area of property (in square feet) | ft² | 238,312 | ||||||||||
Subsequent Events | Orthopedic Associates MOB | |||||||||||
Subsequent events | |||||||||||
Purchase price | $ 18,800 | ||||||||||
Subsequent Events | Medical Arts Center at Hartford | |||||||||||
Subsequent events | |||||||||||
Purchase price | $ 30,300 | ||||||||||
Subsequent Events | CareMount Portfolio (2 MOBs) | |||||||||||
Subsequent events | |||||||||||
Purchase price | $ 60,400 | ||||||||||
Subsequent Events | Nashville MOB | |||||||||||
Subsequent events | |||||||||||
Aggregate purchase price | $ 20,000 | ||||||||||
Series A Preferred Units Issued | shares | 91,236 | ||||||||||
Subsequent Events | Joint venture, Operating Partnership and Medical Center of New Albany I, LLC | |||||||||||
Subsequent events | |||||||||||
Aggregate purchase price | $ 2,100 | ||||||||||
Series A Preferred Units Issued | shares | 38,641 | ||||||||||
Value of units issued for funding purchase price | $ 2,800 |
Quarterly Data - Additional Inf
Quarterly Data - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2014 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Quarterly Financial Data [Line Items] | ||||||||||||||||||||
Total revenues | $ 73,674 | $ 70,010 | $ 53,216 | $ 44,134 | $ 40,404 | $ 34,870 | $ 29,683 | $ 24,484 | $ 241,034 | $ 129,441 | $ 53,334 | |||||||||
Operating income | 8,590 | 10,267 | 7,158 | 5,392 | 5,883 | 3,812 | 3,271 | (459) | 31,407 | 12,507 | (4,545) | |||||||||
Net income | 8,620 | 10,294 | 7,184 | 5,424 | 5,909 | 3,983 | 3,297 | (448) | 31,522 | 12,741 | (4,418) | |||||||||
Net income attributable to common shareholders | $ 7,825 | $ 9,427 | $ 6,486 | $ 4,386 | $ 5,146 | $ 3,404 | $ 2,571 | $ (522) | $ 28,124 | $ 10,599 | $ (4,037) | |||||||||
Earnings per share - basic: | ||||||||||||||||||||
Earnings per share - basic (in dollars per share) | $ 0.06 | $ 0.07 | $ 0.05 | $ 0.04 | $ 0.06 | $ 0.05 | $ 0.04 | $ (0.01) | $ 0.22 | $ 0.15 | $ (0.12) | |||||||||
Weighted average number of shares outstanding - basic (in shares) | 135,581,976 | 134,608,396 | 131,481,329 | 102,704,008 | 83,761,536 | 71,034,747 | 70,376,959 | 65,649,478 | 33,063,093 | |||||||||||
Earnings per unit - basic (in dollars per share) | $ 0.22 | $ 0.15 | $ (0.12) | |||||||||||||||||
Weighted average number of units outstanding - basic (in shares) | 129,835,209 | 76,459,218 | 36,881,712 | |||||||||||||||||
Earnings per share - diluted: | ||||||||||||||||||||
Earnings per share - diluted (in dollars per share) | $ 0.06 | $ 0.07 | $ 0.05 | $ 0.04 | $ 0.06 | $ 0.05 | $ 0.04 | $ (0.01) | $ 0.22 | $ 0.15 | $ (0.12) | |||||||||
Weighted average number of shares outstanding - diluted (in shares) | 139,602,349 | 138,880,787 | 135,944,722 | 107,148,380 | 87,911,097 | 75,104,821 | 74,267,284 | 65,649,478 | 130,466,893 | 76,792,073 | 33,063,093 | |||||||||
Earnings per unit - diluted (in dollars per share) | $ 0.22 | $ 0.15 | $ (0.12) | |||||||||||||||||
Weighted average number of units outstanding - diluted (in shares) | 130,466,893 | 76,792,073 | 36,881,712 | |||||||||||||||||
Operating Partnership | ||||||||||||||||||||
Quarterly Financial Data [Line Items] | ||||||||||||||||||||
Total revenues | $ 73,674 | $ 70,010 | $ 53,216 | $ 44,134 | $ 40,404 | $ 34,870 | $ 29,683 | $ 24,484 | $ 14,161 | $ 11,447 | $ 8,032 | $ 97,350 | $ 54,167 | $ 19,479 | $ 167,360 | $ 89,037 | $ 33,640 | $ 241,034 | $ 129,441 | $ 53,334 |
Operating income | 8,590 | 10,267 | 7,158 | 5,392 | 5,883 | 3,812 | 3,271 | (459) | (2,311) | (626) | (3,575) | 12,550 | 2,812 | (4,201) | 22,817 | 6,624 | (6,512) | 31,407 | 12,507 | (4,545) |
Net income | 8,620 | 10,294 | 7,184 | 5,424 | 5,909 | 3,983 | 3,297 | (448) | (2,251) | (600) | $ (3,558) | 12,608 | 2,849 | (4,158) | 22,902 | 6,832 | (6,409) | 31,522 | 12,741 | (4,418) |
Net income attributable to common shareholders | $ 8,021 | $ 9,682 | $ 6,687 | $ 4,559 | $ 5,389 | $ 3,604 | $ 2,728 | $ (546) | $ (2,327) | $ (684) | $ 11,246 | $ 2,182 | $ (4,308) | $ 20,928 | $ 5,786 | $ (6,635) | $ 28,949 | $ 11,175 | $ (4,732) | |
Earnings per share - basic: | ||||||||||||||||||||
Earnings per share - basic (in dollars per share) | $ 0.22 | $ 0.15 | $ (0.12) | |||||||||||||||||
Weighted average number of shares outstanding - basic (in shares) | 126,143,114 | 72,750,724 | 33,063,093 | |||||||||||||||||
Earnings per unit - basic (in dollars per share) | $ 0.06 | $ 0.07 | $ 0.05 | $ 0.04 | $ 0.06 | $ 0.05 | $ 0.04 | $ (0.01) | $ (0.06) | $ (0.02) | $ 0.09 | $ 0.03 | $ (0.15) | $ 0.17 | $ 0.08 | $ (0.21) | $ 0.22 | $ 0.15 | $ (0.12) | |
Weighted average number of units outstanding - basic (in shares) | 139,018,183 | 138,227,384 | 135,351,672 | 106,550,467 | 87,565,282 | 74,864,677 | 74,075,323 | 69,146,712 | 40,898,015 | 29,962,046 | 120,951,069 | 71,624,633 | 27,493,474 | 126,751,876 | 72,716,516 | 32,010,755 | 129,835,209 | 76,459,218 | 36,881,712 | |
Earnings per share - diluted: | ||||||||||||||||||||
Earnings per share - diluted (in dollars per share) | $ 0.22 | $ 0.15 | $ (0.12) | |||||||||||||||||
Weighted average number of shares outstanding - diluted (in shares) | 130,466,893 | 76,792,073 | 33,063,093 | |||||||||||||||||
Earnings per unit - diluted (in dollars per share) | $ 0.06 | $ 0.07 | $ 0.05 | $ 0.04 | $ 0.06 | $ 0.05 | $ 0.04 | $ (0.01) | $ (0.06) | $ (0.02) | $ 0.09 | $ 0.03 | $ (0.15) | $ 0.16 | $ 0.08 | $ (0.21) | $ 0.22 | $ 0.15 | $ (0.12) | |
Weighted average number of units outstanding - diluted (in shares) | 139,602,249 | 138,880,787 | 135,944,722 | 107,148,380 | 87,911,097 | 75,104,821 | 74,267,284 | 69,146,712 | 40,898,015 | 29,962,046 | 121,575,247 | 71,862,249 | 27,493,474 | 127,395,989 | 73,040,846 | 32,010,755 | 130,466,893 | 76,792,073 | 36,881,712 |
SCHEDULE III - REAL ESTATE AN89
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2012 | |
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 123,194 | |||
Initial Cost to Company, Land | 189,760 | |||
Initial Cost to Company, Buildings and Improvements | 2,389,096 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 27,680 | |||
Gross Amount at Which Carried as of Close of Period, Land | 189,760 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 2,416,776 | |||
Gross Amount at Which Carried as of Close of Period, Total | 2,606,536 | $ 1,424,894 | $ 729,034 | $ 224,730 |
Accumulated Depreciation | (118,609) | $ (61,242) | $ (32,772) | $ (20,299) |
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 | 644 | |||
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 | 3,195 | |||
Gross Amount at Which Carried as of Close of Period, Total | 3,935 | |||
Accumulated Depreciation | $ (492) | |||
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 | $ (211) | |||
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 | 338 | |||
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 | 2,330 | |||
Gross Amount at Which Carried as of Close of Period, Total | 2,619 | |||
Accumulated Depreciation | $ (570) | |||
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 | $ 5,986 | |||
Initial Cost to Company, Land | 710 | |||
Initial Cost to Company, Buildings and Improvements | 7,225 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 191 | |||
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 | 7,416 | |||
Gross Amount at Which Carried as of Close of Period, Total | 8,126 | |||
Accumulated Depreciation | $ (2,342) | |||
Life on Which Building Depreciation in Income Statement is Computed | 30 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 | $ (870) | |||
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 | $ (1,637) | |||
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 | 132 | |||
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 | 1,925 | |||
Gross Amount at Which Carried as of Close of Period, Total | 2,505 | |||
Accumulated Depreciation | $ (1,339) | |||
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 | $ 2,628 | |||
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 | $ (869) | |||
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 | $ 5,172 | |||
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 | 64 | |||
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 | 6,466 | |||
Gross Amount at Which Carried as of Close of Period, Total | 8,306 | |||
Accumulated Depreciation | $ (2,144) | |||
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 | $ 10,030 | |||
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 | $ (3,677) | |||
Life on Which Building Depreciation in Income Statement is Computed | 30 years | |||
Mid Coast Hospital Medical Office Building | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 7,385 | |||
Initial Cost to Company, Land | 0 | |||
Initial Cost to Company, Buildings and Improvements | 11,247 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 47 | |||
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 | 11,294 | |||
Gross Amount at Which Carried as of Close of Period, Total | 11,294 | |||
Accumulated Depreciation | $ (3,230) | |||
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 | 571 | |||
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 | 3,338 | |||
Gross Amount at Which Carried as of Close of Period, Total | 3,575 | |||
Accumulated Depreciation | $ (666) | |||
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 | 234 | |||
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 | 1,479 | |||
Gross Amount at Which Carried as of Close of Period, Total | 2,318 | |||
Accumulated Depreciation | $ (625) | |||
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 | $ 4,123 | |||
Initial Cost to Company, Land | 895 | |||
Initial Cost to Company, Buildings and Improvements | 6,499 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 318 | |||
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 | 6,817 | |||
Gross Amount at Which Carried as of Close of Period, Total | 7,712 | |||
Accumulated Depreciation | $ (1,975) | |||
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 | 5,516 | |||
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 | 21,092 | |||
Gross Amount at Which Carried as of Close of Period, Total | 23,725 | |||
Accumulated Depreciation | $ (4,889) | |||
Life on Which Building Depreciation in Income Statement is Computed | 44 years | |||
Valley West Hospital Medical Office Building | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 4,653 | |||
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 | $ (2,103) | |||
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 | $ (429) | |||
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 | $ (2,188) | |||
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 | $ (1,618) | |||
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 | $ (2,316) | |||
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 | $ 7,292 | |||
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 | $ (962) | |||
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 | 16 | |||
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 | 5,021 | |||
Gross Amount at Which Carried as of Close of Period, Total | 6,011 | |||
Accumulated Depreciation | $ (332) | |||
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 | $ (534) | |||
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 | 21 | |||
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 | 3,245 | |||
Gross Amount at Which Carried as of Close of Period, Total | 3,448 | |||
Accumulated Depreciation | $ (299) | |||
Life on Which Building Depreciation in Income Statement is Computed | 33 years | |||
Eagles Landing Family Practice Medical Office Building — McDonough 2007 | ||||
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 | $ (393) | |||
Life on Which Building Depreciation in Income Statement is Computed | 36 years | |||
Eagles Landing Family Practice Medical Office Building — Jackson | ||||
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 | $ (351) | |||
Life on Which Building Depreciation in Income Statement is Computed | 38 years | |||
Eagles Landing Family Practice Medical Office Building — Conyers | ||||
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 | $ (266) | |||
Life on Which Building Depreciation in Income Statement is Computed | 37 years | |||
Eagles Landing Family Practice Medical Office Building — McDonough 2010 | ||||
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 | $ (393) | |||
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 | $ 8,425 | |||
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 | 43 | |||
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 | 23,389 | |||
Gross Amount at Which Carried as of Close of Period, Total | 25,619 | |||
Accumulated Depreciation | $ (2,157) | |||
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 | $ (716) | |||
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 | $ (269) | |||
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 | $ (154) | |||
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 | $ (193) | |||
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 | $ (355) | |||
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 | 1,022 | |||
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 | 28,457 | |||
Gross Amount at Which Carried as of Close of Period, Total | 34,503 | |||
Accumulated Depreciation | $ (3,216) | |||
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 | $ (2,319) | |||
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 | $ (1,155) | |||
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 | $ (531) | |||
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 | $ (185) | |||
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 | $ (869) | |||
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 | 89 | |||
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 | 5,909 | |||
Gross Amount at Which Carried as of Close of Period, Total | 6,094 | |||
Accumulated Depreciation | $ (620) | |||
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 | $ (1,182) | |||
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 | $ (428) | |||
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 | 8 | |||
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 | 7,666 | |||
Gross Amount at Which Carried as of Close of Period, Total | 7,894 | |||
Accumulated Depreciation | $ (496) | |||
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 | $ (338) | |||
Life on Which Building Depreciation in Income Statement is Computed | 45 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 | $ (409) | |||
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 | $ (264) | |||
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 | $ (1,133) | |||
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 | $ (114) | |||
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 | $ (224) | |||
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 | $ (466) | |||
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 | $ (502) | |||
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 | $ (362) | |||
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 | $ (793) | |||
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 | $ (2,745) | |||
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 | $ (1,831) | |||
Life on Which Building Depreciation in Income Statement is Computed | 40 years | |||
Ortho 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 | $ (906) | |||
Life on Which Building Depreciation in Income Statement is Computed | 45 years | |||
Ortho 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 | $ (227) | |||
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 | $ (388) | |||
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 | 396 | |||
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 | 11,712 | |||
Gross Amount at Which Carried as of Close of Period, Total | 14,006 | |||
Accumulated Depreciation | $ (931) | |||
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 | 974 | |||
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 | 25,517 | |||
Gross Amount at Which Carried as of Close of Period, Total | 27,800 | |||
Accumulated Depreciation | $ (1,942) | |||
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 | 21 | |||
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 | 2,199 | |||
Gross Amount at Which Carried as of Close of Period, Total | 2,927 | |||
Accumulated Depreciation | $ (157) | |||
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 | 27 | |||
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 | 3,259 | |||
Gross Amount at Which Carried as of Close of Period, Total | 3,667 | |||
Accumulated Depreciation | $ (239) | |||
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 | 15 | |||
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 | 7,320 | |||
Gross Amount at Which Carried as of Close of Period, Total | 7,937 | |||
Accumulated Depreciation | $ (549) | |||
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 | $ (167) | |||
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 | $ (281) | |||
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 | $ (214) | |||
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 | $ (291) | |||
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 | $ (49) | |||
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 | $ (77) | |||
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 | 124 | |||
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 | 5,704 | |||
Gross Amount at Which Carried as of Close of Period, Total | 6,178 | |||
Accumulated Depreciation | $ (492) | |||
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 | $ (415) | |||
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 | $ (386) | |||
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 | $ (74) | |||
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 | $ (18) | |||
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 | $ (63) | |||
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 | 7 | |||
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 | 177 | |||
Gross Amount at Which Carried as of Close of Period, Total | 607 | |||
Accumulated Depreciation | $ (75) | |||
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 | 22 | |||
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 | 1,601 | |||
Gross Amount at Which Carried as of Close of Period, Total | 1,868 | |||
Accumulated Depreciation | $ (165) | |||
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 | 26 | |||
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 | 175 | |||
Gross Amount at Which Carried as of Close of Period, Total | 377 | |||
Accumulated Depreciation | $ (62) | |||
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 | $ (482) | |||
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 | $ (614) | |||
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 | $ (184) | |||
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 | 387 | |||
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 | 7,799 | |||
Gross Amount at Which Carried as of Close of Period, Total | 9,001 | |||
Accumulated Depreciation | $ (645) | |||
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 | 1,661 | |||
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 | 1,661 | |||
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 | 4,621 | |||
Accumulated Depreciation | $ (180) | |||
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 | $ (362) | |||
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 | 862 | |||
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 | 10,868 | |||
Gross Amount at Which Carried as of Close of Period, Total | 11,372 | |||
Accumulated Depreciation | $ (1,086) | |||
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 | 0 | |||
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 | 11,862 | |||
Gross Amount at Which Carried as of Close of Period, Total | 12,807 | |||
Accumulated Depreciation | $ (577) | |||
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 | $ 5,605 | |||
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 | $ (506) | |||
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 | $ (250) | |||
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 | $ (309) | |||
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 | $ (522) | |||
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 | $ (702) | |||
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 | $ (957) | |||
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 | $ (562) | |||
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 | 126 | |||
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 | 7,027 | |||
Gross Amount at Which Carried as of Close of Period, Total | 7,889 | |||
Accumulated Depreciation | $ (388) | |||
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 | $ (209) | |||
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 | 77 | |||
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 | 2,005 | |||
Gross Amount at Which Carried as of Close of Period, Total | 2,776 | |||
Accumulated Depreciation | $ (132) | |||
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 | 0 | |||
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 | 1,741 | |||
Gross Amount at Which Carried as of Close of Period, Total | 2,304 | |||
Accumulated Depreciation | $ (162) | |||
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 | $ (383) | |||
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 | 19 | |||
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 | 6,026 | |||
Gross Amount at Which Carried as of Close of Period, Total | 6,881 | |||
Accumulated Depreciation | $ (275) | |||
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 | $ (581) | |||
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 | 2,314 | |||
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 | 6,496 | |||
Gross Amount at Which Carried as of Close of Period, Total | 7,875 | |||
Accumulated Depreciation | $ (614) | |||
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 | 11 | |||
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 | 10,175 | |||
Gross Amount at Which Carried as of Close of Period, Total | 10,709 | |||
Accumulated Depreciation | $ (735) | |||
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 | $ (206) | |||
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 | $ (414) | |||
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 | 8 | |||
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 | 8,234 | |||
Gross Amount at Which Carried as of Close of Period, Total | 8,587 | |||
Accumulated Depreciation | $ (549) | |||
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 | 11 | |||
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 | 7,085 | |||
Gross Amount at Which Carried as of Close of Period, Total | 7,367 | |||
Accumulated Depreciation | $ (374) | |||
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 | $ (497) | |||
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 | $ (238) | |||
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 | $ (404) | |||
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 | $ (896) | |||
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 | $ 11,645 | |||
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 | $ (564) | |||
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 | $ (751) | |||
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 | 150 | |||
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 | 8,777 | |||
Gross Amount at Which Carried as of Close of Period, Total | 10,977 | |||
Accumulated Depreciation | $ (490) | |||
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 | $ (287) | |||
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 | $ (447) | |||
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 | $ (304) | |||
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 | $ (100) | |||
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 | 10 | |||
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 | 3,810 | |||
Gross Amount at Which Carried as of Close of Period, Total | 4,365 | |||
Accumulated Depreciation | $ (175) | |||
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 | 23 | |||
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 | 13,240 | |||
Gross Amount at Which Carried as of Close of Period, Total | 14,052 | |||
Accumulated Depreciation | $ (534) | |||
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 | 1,124 | |||
Initial Cost to Company, Buildings and Improvements | 15,404 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 486 | |||
Gross Amount at Which Carried as of Close of Period, Land | 1,124 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 15,890 | |||
Gross Amount at Which Carried as of Close of Period, Total | 17,014 | |||
Accumulated Depreciation | $ (610) | |||
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 | 6 | |||
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 | 7,566 | |||
Gross Amount at Which Carried as of Close of Period, Total | 7,566 | |||
Accumulated Depreciation | $ (317) | |||
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 | $ (373) | |||
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 | 3,795 | |||
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 | 58,973 | |||
Gross Amount at Which Carried as of Close of Period, Total | 58,973 | |||
Accumulated Depreciation | $ (1,822) | |||
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 | $ (960) | |||
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 | 10 | |||
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 | 18,118 | |||
Gross Amount at Which Carried as of Close of Period, Total | 19,936 | |||
Accumulated Depreciation | $ (583) | |||
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 | $ (962) | |||
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 | 18 | |||
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 | 42,895 | |||
Gross Amount at Which Carried as of Close of Period, Total | 42,895 | |||
Accumulated Depreciation | $ (1,341) | |||
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 | 19 | |||
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 | 6,816 | |||
Gross Amount at Which Carried as of Close of Period, Total | 7,638 | |||
Accumulated Depreciation | $ (250) | |||
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 | 17 | |||
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 | 25,618 | |||
Gross Amount at Which Carried as of Close of Period, Total | 27,178 | |||
Accumulated Depreciation | $ (899) | |||
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 | 47 | |||
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 | 8,552 | |||
Gross Amount at Which Carried as of Close of Period, Total | 10,152 | |||
Accumulated Depreciation | $ (347) | |||
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 | $ (275) | |||
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 | 14 | |||
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 | 5,241 | |||
Gross Amount at Which Carried as of Close of Period, Total | 5,881 | |||
Accumulated Depreciation | $ (193) | |||
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 | $ (27) | |||
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 | $ (41) | |||
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 | $ (34) | |||
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 | $ (42) | |||
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 | $ (31) | |||
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 | $ (26) | |||
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 | $ (23) | |||
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 | $ (38) | |||
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 | $ (35) | |||
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 | $ (23) | |||
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 | $ (58) | |||
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 | $ (181) | |||
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 | 26 | |||
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 | 8,546 | |||
Gross Amount at Which Carried as of Close of Period, Total | 9,136 | |||
Accumulated Depreciation | $ (315) | |||
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 | $ (178) | |||
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 | $ (202) | |||
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 | $ (883) | |||
Life on Which Building Depreciation in Income Statement is Computed | 46 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 | $ (214) | |||
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 | $ (737) | |||
Life on Which Building Depreciation in Income Statement is Computed | 40 years | |||
Great Falls Hospital | ||||
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 | 25,262 | |||
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 | 25,262 | |||
Gross Amount at Which Carried as of Close of Period, Total | 25,262 | |||
Accumulated Depreciation | $ (661) | |||
Life on Which Building Depreciation in Income Statement is Computed | 40 years | |||
Monterey Medical Center ASC | ||||
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 | 5,064 | |||
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 | 5,064 | |||
Gross Amount at Which Carried as of Close of Period, Total | 5,444 | |||
Accumulated Depreciation | $ (115) | |||
Life on Which Building Depreciation in Income Statement is Computed | 42 years | |||
Physicians Medical Plaza 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 | 6,703 | |||
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 | 6,703 | |||
Gross Amount at Which Carried as of Close of Period, Total | 6,703 | |||
Accumulated Depreciation | $ (197) | |||
Life on Which Building Depreciation in Income Statement is Computed | 34 years | |||
Park Nicollet Clinic | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 1,941 | |||
Initial Cost to Company, Buildings and Improvements | 14,555 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 1,941 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 14,555 | |||
Gross Amount at Which Carried as of Close of Period, Total | 16,496 | |||
Accumulated Depreciation | $ (363) | |||
Life on Which Building Depreciation in Income Statement is Computed | 40 years | |||
HEB Cancer 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 | 11,839 | |||
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 | 11,839 | |||
Gross Amount at Which Carried as of Close of Period, Total | 11,839 | |||
Accumulated Depreciation | $ (218) | |||
Life on Which Building Depreciation in Income Statement is Computed | 44 years | |||
Riverview Medical Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 1,313 | |||
Initial Cost to Company, Buildings and Improvements | 10,243 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 63 | |||
Gross Amount at Which Carried as of Close of Period, Land | 1,313 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 10,306 | |||
Gross Amount at Which Carried as of Close of Period, Total | 11,619 | |||
Accumulated Depreciation | $ (287) | |||
Life on Which Building Depreciation in Income Statement is Computed | 33 years | |||
St. Luke's Cornwall MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 9,500 | |||
Initial Cost to Company, Land | 0 | |||
Initial Cost to Company, Buildings and Improvements | 13,017 | |||
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 | 13,017 | |||
Gross Amount at Which Carried as of Close of Period, Total | 13,017 | |||
Accumulated Depreciation | $ (364) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
HonorHealth Glendale | ||||
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 | 8,089 | |||
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 | 8,089 | |||
Gross Amount at Which Carried as of Close of Period, Total | 9,859 | |||
Accumulated Depreciation | $ (160) | |||
Life on Which Building Depreciation in Income Statement is Computed | 45 years | |||
Columbia MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 12,000 | |||
Initial Cost to Company, Land | 0 | |||
Initial Cost to Company, Buildings and Improvements | 16,550 | |||
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 | 16,550 | |||
Gross Amount at Which Carried as of Close of Period, Total | 16,550 | |||
Accumulated Depreciation | $ (394) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
St Vincent POB 1 | ||||
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 | 10,172 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 87 | |||
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 | 10,259 | |||
Gross Amount at Which Carried as of Close of Period, Total | 10,259 | |||
Accumulated Depreciation | $ (530) | |||
Life on Which Building Depreciation in Income Statement is Computed | 15 years | |||
St Vincent POB 2 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 48 | |||
Initial Cost to Company, Buildings and Improvements | 6,624 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 72 | |||
Gross Amount at Which Carried as of Close of Period, Land | 48 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 6,696 | |||
Gross Amount at Which Carried as of Close of Period, Total | 6,744 | |||
Accumulated Depreciation | $ (358) | |||
Life on Which Building Depreciation in Income Statement is Computed | 15 years | |||
St Vincent POB 3 | ||||
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 | 9,433 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 62 | |||
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 | 9,495 | |||
Gross Amount at Which Carried as of Close of Period, Total | 9,570 | |||
Accumulated Depreciation | $ (300) | |||
Life on Which Building Depreciation in Income Statement is Computed | 25 years | |||
Emerson Medical Building | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 1,590 | |||
Initial Cost to Company, Buildings and Improvements | 9,853 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 13 | |||
Gross Amount at Which Carried as of Close of Period, Land | 1,590 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 9,866 | |||
Gross Amount at Which Carried as of Close of Period, Total | 11,456 | |||
Accumulated Depreciation | $ (222) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
Patient Partners 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 | 3,376 | |||
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 | 3,376 | |||
Gross Amount at Which Carried as of Close of Period, Total | 3,579 | |||
Accumulated Depreciation | $ (74) | |||
Life on Which Building Depreciation in Income Statement is Computed | 40 years | |||
Eye Associates of NM - Santa Fe | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 900 | |||
Initial Cost to Company, Buildings and Improvements | 6,604 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 900 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 6,604 | |||
Gross Amount at Which Carried as of Close of Period, Total | 7,504 | |||
Accumulated Depreciation | $ (166) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
Eye Associates of NM - Albuquerque | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 1,020 | |||
Initial Cost to Company, Buildings and Improvements | 7,832 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 1,020 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 7,832 | |||
Gross Amount at Which Carried as of Close of Period, Total | 8,852 | |||
Accumulated Depreciation | $ (174) | |||
Life on Which Building Depreciation in Income Statement is Computed | 40 years | |||
Gardendale Surgery Center | ||||
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 | 5,732 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
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 | 5,732 | |||
Gross Amount at Which Carried as of Close of Period, Total | 5,932 | |||
Accumulated Depreciation | $ (107) | |||
Life on Which Building Depreciation in Income Statement is Computed | 42 years | |||
HealthEast - Curve Crest | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 409 | |||
Initial Cost to Company, Buildings and Improvements | 3,279 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 409 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 3,279 | |||
Gross Amount at Which Carried as of Close of Period, Total | 3,688 | |||
Accumulated Depreciation | $ (63) | |||
Life on Which Building Depreciation in Income Statement is Computed | 43 years | |||
HealthEast - Victor Gardens | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 572 | |||
Initial Cost to Company, Buildings and Improvements | 4,400 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 572 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 4,400 | |||
Gross Amount at Which Carried as of Close of Period, Total | 4,972 | |||
Accumulated Depreciation | $ (89) | |||
Life on Which Building Depreciation in Income Statement is Computed | 41 years | |||
NOMS - Clyde | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 440 | |||
Initial Cost to Company, Buildings and Improvements | 5,948 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 440 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 5,948 | |||
Gross Amount at Which Carried as of Close of Period, Total | 6,388 | |||
Accumulated Depreciation | $ (96) | |||
Life on Which Building Depreciation in Income Statement is Computed | 44 years | |||
Blandford MOB | ||||
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 | 2,386 | |||
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 | 2,386 | |||
Gross Amount at Which Carried as of Close of Period, Total | 2,589 | |||
Accumulated Depreciation | $ (43) | |||
Life on Which Building Depreciation in Income Statement is Computed | 40 years | |||
Cardwell 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 | 8,348 | |||
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 | 8,348 | |||
Gross Amount at Which Carried as of Close of Period, Total | 8,348 | |||
Accumulated Depreciation | $ (143) | |||
Life on Which Building Depreciation in Income Statement is Computed | 42 years | |||
Dacono Neighborhood Health | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 2,258 | |||
Initial Cost to Company, Buildings and Improvements | 2,911 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 2,258 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 2,911 | |||
Gross Amount at Which Carried as of Close of Period, Total | 5,169 | |||
Accumulated Depreciation | $ (69) | |||
Life on Which Building Depreciation in Income Statement is Computed | 44 years | |||
Franciscan Health | ||||
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 | 9,096 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 65 | |||
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 | 9,161 | |||
Gross Amount at Which Carried as of Close of Period, Total | 9,872 | |||
Accumulated Depreciation | $ (405) | |||
Life on Which Building Depreciation in Income Statement is Computed | 15 years | |||
Grand Island Specialty Clinic | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 102 | |||
Initial Cost to Company, Buildings and Improvements | 2,802 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 150 | |||
Gross Amount at Which Carried as of Close of Period, Land | 102 | |||
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 | 3,054 | |||
Accumulated Depreciation | $ (53) | |||
Life on Which Building Depreciation in Income Statement is Computed | 42 years | |||
Hot Springs MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 305 | |||
Initial Cost to Company, Buildings and Improvements | 3,309 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 305 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 3,309 | |||
Gross Amount at Which Carried as of Close of Period, Total | 3,614 | |||
Accumulated Depreciation | $ (82) | |||
Life on Which Building Depreciation in Income Statement is Computed | 30 years | |||
Jewish Medical Center East | ||||
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 | 81,248 | |||
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 | 81,248 | |||
Gross Amount at Which Carried as of Close of Period, Total | 81,248 | |||
Accumulated Depreciation | $ (1,255) | |||
Life on Which Building Depreciation in Income Statement is Computed | 45 years | |||
Jewish Medical Center South MOB - 1 | ||||
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 | 15,861 | |||
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 | 15,861 | |||
Gross Amount at Which Carried as of Close of Period, Total | 15,861 | |||
Accumulated Depreciation | $ (311) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Jewish Medical Plaza I | ||||
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 | 8,808 | |||
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 | 8,808 | |||
Gross Amount at Which Carried as of Close of Period, Total | 8,808 | |||
Accumulated Depreciation | $ (177) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
Jewish Medical Plaza II | ||||
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 | 5,216 | |||
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 | 5,216 | |||
Gross Amount at Which Carried as of Close of Period, Total | 5,216 | |||
Accumulated Depreciation | $ (234) | |||
Life on Which Building Depreciation in Income Statement is Computed | 15 years | |||
Jewish OCC | ||||
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 | 35,703 | |||
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 | 35,703 | |||
Gross Amount at Which Carried as of Close of Period, Total | 35,703 | |||
Accumulated Depreciation | $ (705) | |||
Life on Which Building Depreciation in Income Statement is Computed | 34 years | |||
Lakeside Three Professional 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 | 1,372 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 25 | |||
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 | 1,397 | |||
Gross Amount at Which Carried as of Close of Period, Total | 1,397 | |||
Accumulated Depreciation | $ (35) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
Lexington Surgery Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 1,229 | |||
Initial Cost to Company, Buildings and Improvements | 18,914 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 1,229 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 18,914 | |||
Gross Amount at Which Carried as of Close of Period, Total | 20,143 | |||
Accumulated Depreciation | $ (429) | |||
Life on Which Building Depreciation in Income Statement is Computed | 30 years | |||
Medical Arts 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 | 6,215 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 5 | |||
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 | 6,220 | |||
Gross Amount at Which Carried as of Close of Period, Total | 6,220 | |||
Accumulated Depreciation | $ (135) | |||
Life on Which Building Depreciation in Income Statement is Computed | 33 years | |||
Memorial Outpatient 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 | 4,808 | |||
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 | 4,808 | |||
Gross Amount at Which Carried as of Close of Period, Total | 4,808 | |||
Accumulated Depreciation | $ (82) | |||
Life on Which Building Depreciation in Income Statement is Computed | 45 years | |||
Midlands Two Professional 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 | 587 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 8 | |||
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 | 595 | |||
Gross Amount at Which Carried as of Close of Period, Total | 595 | |||
Accumulated Depreciation | $ (98) | |||
Life on Which Building Depreciation in Income Statement is Computed | 5 years | |||
Parkview MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 705 | |||
Initial Cost to Company, Buildings and Improvements | 4,343 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 705 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 4,343 | |||
Gross Amount at Which Carried as of Close of Period, Total | 5,048 | |||
Accumulated Depreciation | $ (91) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
Peak One ASC | ||||
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 | 5,763 | |||
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 | 5,763 | |||
Gross Amount at Which Carried as of Close of Period, Total | 5,763 | |||
Accumulated Depreciation | $ (95) | |||
Life on Which Building Depreciation in Income Statement is Computed | 44 years | |||
Physicians 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 | 5,862 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 10 | |||
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 | 5,872 | |||
Gross Amount at Which Carried as of Close of Period, Total | 5,872 | |||
Accumulated Depreciation | $ (148) | |||
Life on Which Building Depreciation in Income Statement is Computed | 27 years | |||
St. Alexius - Minot Medical Plaza | ||||
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 | 26,078 | |||
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 | 26,078 | |||
Gross Amount at Which Carried as of Close of Period, Total | 26,078 | |||
Accumulated Depreciation | $ (409) | |||
Life on Which Building Depreciation in Income Statement is Computed | 49 years | |||
St. Clare 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 | 9,005 | |||
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 | 9,005 | |||
Gross Amount at Which Carried as of Close of Period, Total | 9,005 | |||
Accumulated Depreciation | $ (214) | |||
Life on Which Building Depreciation in Income Statement is Computed | 33 years | |||
St. Joseph 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 | 11,497 | |||
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 | 11,497 | |||
Gross Amount at Which Carried as of Close of Period, Total | 11,497 | |||
Accumulated Depreciation | $ (235) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
St. Joseph Office Park | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 3,722 | |||
Initial Cost to Company, Buildings and Improvements | 12,675 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 373 | |||
Gross Amount at Which Carried as of Close of Period, Land | 3,722 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 13,048 | |||
Gross Amount at Which Carried as of Close of Period, Total | 16,770 | |||
Accumulated Depreciation | $ (628) | |||
Life on Which Building Depreciation in Income Statement is Computed | 14 years | |||
St. Mary - Caritas Medical II | ||||
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 | 5,587 | |||
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 | 5,587 | |||
Gross Amount at Which Carried as of Close of Period, Total | 5,587 | |||
Accumulated Depreciation | $ (113) | |||
Life on Which Building Depreciation in Income Statement is Computed | 34 years | |||
St. Mary - Caritas Medical III | ||||
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 | 383 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 46 | |||
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 | 429 | |||
Gross Amount at Which Carried as of Close of Period, Total | 429 | |||
Accumulated Depreciation | $ (102) | |||
Life on Which Building Depreciation in Income Statement is Computed | 2 years | |||
Thornton Neighborhood Health | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 1,609 | |||
Initial Cost to Company, Buildings and Improvements | 2,287 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 1,609 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 2,287 | |||
Gross Amount at Which Carried as of Close of Period, Total | 3,896 | |||
Accumulated Depreciation | $ (53) | |||
Life on Which Building Depreciation in Income Statement is Computed | 43 years | |||
Medical Village at Kissimmee | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 634 | |||
Initial Cost to Company, Buildings and Improvements | 3,365 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 634 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 3,365 | |||
Gross Amount at Which Carried as of Close of Period, Total | 3,999 | |||
Accumulated Depreciation | $ (55) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Medical Village at Leesburg | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 802 | |||
Initial Cost to Company, Buildings and Improvements | 3,047 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 802 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 3,047 | |||
Gross Amount at Which Carried as of Close of Period, Total | 3,849 | |||
Accumulated Depreciation | $ (79) | |||
Life on Which Building Depreciation in Income Statement is Computed | 25 years | |||
St. Francis 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 | 12,817 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 6 | |||
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 | 12,823 | |||
Gross Amount at Which Carried as of Close of Period, Total | 12,823 | |||
Accumulated Depreciation | $ (226) | |||
Life on Which Building Depreciation in Income Statement is Computed | 38 years | |||
Children's Hospital MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 476 | |||
Initial Cost to Company, Buildings and Improvements | 4,897 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 476 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 4,897 | |||
Gross Amount at Which Carried as of Close of Period, Total | 5,373 | |||
Accumulated Depreciation | $ (72) | |||
Life on Which Building Depreciation in Income Statement is Computed | 45 years | |||
Jewish Medical Center South MOB - 2 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 27 | |||
Initial Cost to Company, Buildings and Improvements | 3,827 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 27 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 3,827 | |||
Gross Amount at Which Carried as of Close of Period, Total | 3,854 | |||
Accumulated Depreciation | $ (56) | |||
Life on Which Building Depreciation in Income Statement is Computed | 40 years | |||
Good Samaritan North Annex Building | ||||
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 | 2,734 | |||
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 | 2,734 | |||
Gross Amount at Which Carried as of Close of Period, Total | 2,734 | |||
Accumulated Depreciation | $ (44) | |||
Life on Which Building Depreciation in Income Statement is Computed | 37 years | |||
NE Heart Institute Medical Building | ||||
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 | 19,738 | |||
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 | 19,738 | |||
Gross Amount at Which Carried as of Close of Period, Total | 19,738 | |||
Accumulated Depreciation | $ (211) | |||
Life on Which Building Depreciation in Income Statement is Computed | 47 years | |||
St. Vincent West 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 | 13,453 | |||
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 | 13,453 | |||
Gross Amount at Which Carried as of Close of Period, Total | 13,453 | |||
Accumulated Depreciation | $ (149) | |||
Life on Which Building Depreciation in Income Statement is Computed | 49 years | |||
Meridan MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 1,608 | |||
Initial Cost to Company, Buildings and Improvements | 15,774 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 1,608 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 15,774 | |||
Gross Amount at Which Carried as of Close of Period, Total | 17,382 | |||
Accumulated Depreciation | $ (239) | |||
Life on Which Building Depreciation in Income Statement is Computed | 38 years | |||
St. Mary - Caritas Medical I | ||||
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 | 8,774 | |||
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 | 8,774 | |||
Gross Amount at Which Carried as of Close of Period, Total | 8,774 | |||
Accumulated Depreciation | $ (178) | |||
Life on Which Building Depreciation in Income Statement is Computed | 25 years | |||
St. Alexius - Medical Arts 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 | 12,902 | |||
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 | 12,902 | |||
Gross Amount at Which Carried as of Close of Period, Total | 12,902 | |||
Accumulated Depreciation | $ (208) | |||
Life on Which Building Depreciation in Income Statement is Computed | 32 years | |||
St. Alexius - Mandan Clinic | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 708 | |||
Initial Cost to Company, Buildings and Improvements | 7,700 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 708 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 7,700 | |||
Gross Amount at Which Carried as of Close of Period, Total | 8,408 | |||
Accumulated Depreciation | $ (99) | |||
Life on Which Building Depreciation in Income Statement is Computed | 43 years | |||
St. Alexius - Orthopaedic 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 | 13,881 | |||
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 | 13,881 | |||
Gross Amount at Which Carried as of Close of Period, Total | 13,881 | |||
Accumulated Depreciation | $ (188) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
St. Alexius - Rehab 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 | 5,920 | |||
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 | 5,920 | |||
Gross Amount at Which Carried as of Close of Period, Total | 5,920 | |||
Accumulated Depreciation | $ (126) | |||
Life on Which Building Depreciation in Income Statement is Computed | 25 years | |||
St. Alexius - Tech & Ed | ||||
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 | 16,688 | |||
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 | 16,688 | |||
Gross Amount at Which Carried as of Close of Period, Total | 16,688 | |||
Accumulated Depreciation | $ (226) | |||
Life on Which Building Depreciation in Income Statement is Computed | 38 years | |||
Good Samaritan 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 | 24,154 | |||
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 | 24,154 | |||
Gross Amount at Which Carried as of Close of Period, Total | 24,154 | |||
Accumulated Depreciation | $ (272) | |||
Life on Which Building Depreciation in Income Statement is Computed | 45 years | |||
Lakeside Two Professional Building | ||||
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 | 13,358 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 19 | |||
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 | 13,377 | |||
Gross Amount at Which Carried as of Close of Period, Total | 13,377 | |||
Accumulated Depreciation | $ (177) | |||
Life on Which Building Depreciation in Income Statement is Computed | 38 years | |||
Lakeside Wellness 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 | 10,177 | |||
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 | 10,177 | |||
Gross Amount at Which Carried as of Close of Period, Total | 10,177 | |||
Accumulated Depreciation | $ (132) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
McAuley Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 1,427 | |||
Initial Cost to Company, Buildings and Improvements | 17,020 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 1,427 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 17,020 | |||
Gross Amount at Which Carried as of Close of Period, Total | 18,447 | |||
Accumulated Depreciation | $ (309) | |||
Life on Which Building Depreciation in Income Statement is Computed | 30 years | |||
Memorial Health 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 | 33,967 | |||
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 | 33,967 | |||
Gross Amount at Which Carried as of Close of Period, Total | 33,967 | |||
Accumulated Depreciation | $ (506) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
Missionary Ridge 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 | 7,223 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 1 | |||
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 | 7,224 | |||
Gross Amount at Which Carried as of Close of Period, Total | 7,224 | |||
Accumulated Depreciation | $ (363) | |||
Life on Which Building Depreciation in Income Statement is Computed | 10 years | |||
Pilot Medical Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 1,419 | |||
Initial Cost to Company, Buildings and Improvements | 14,528 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 1,419 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 14,528 | |||
Gross Amount at Which Carried as of Close of Period, Total | 15,947 | |||
Accumulated Depreciation | $ (225) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
St. Joseph Medical Clinic | ||||
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 | 16,427 | |||
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 | 16,427 | |||
Gross Amount at Which Carried as of Close of Period, Total | 16,427 | |||
Accumulated Depreciation | $ (275) | |||
Life on Which Building Depreciation in Income Statement is Computed | 30 years | |||
Woodlands Medical Arts 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 | 19,168 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 5 | |||
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 | 19,173 | |||
Gross Amount at Which Carried as of Close of Period, Total | 19,173 | |||
Accumulated Depreciation | $ (289) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
FESC 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 | 12,702 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 139 | |||
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 | 12,841 | |||
Gross Amount at Which Carried as of Close of Period, Total | 12,841 | |||
Accumulated Depreciation | $ (275) | |||
Life on Which Building Depreciation in Income Statement is Computed | 26 years | |||
Prairie Care MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 525 | |||
Initial Cost to Company, Buildings and Improvements | 3,099 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 525 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 3,099 | |||
Gross Amount at Which Carried as of Close of Period, Total | 3,624 | |||
Accumulated Depreciation | $ (38) | |||
Life on Which Building Depreciation in Income Statement is Computed | 45 years | |||
Springwoods MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 3,821 | |||
Initial Cost to Company, Buildings and Improvements | 14,830 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 50 | |||
Gross Amount at Which Carried as of Close of Period, Land | 3,821 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 14,880 | |||
Gross Amount at Which Carried as of Close of Period, Total | 18,701 | |||
Accumulated Depreciation | $ (159) | |||
Life on Which Building Depreciation in Income Statement is Computed | 44 years | |||
Unity - ASC, Imaging & MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 960 | |||
Initial Cost to Company, Buildings and Improvements | 9,991 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 960 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 9,991 | |||
Gross Amount at Which Carried as of Close of Period, Total | 10,951 | |||
Accumulated Depreciation | $ (126) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
Unity - Medical Pavilion | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 1,070 | |||
Initial Cost to Company, Buildings and Improvements | 12,454 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 1,070 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 12,454 | |||
Gross Amount at Which Carried as of Close of Period, Total | 13,524 | |||
Accumulated Depreciation | $ (157) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
Unity - Faith, Hope & Love | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 280 | |||
Initial Cost to Company, Buildings and Improvements | 1,862 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 280 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 1,862 | |||
Gross Amount at Which Carried as of Close of Period, Total | 2,142 | |||
Accumulated Depreciation | $ (24) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
Unity - Immediate Care & OCC | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 300 | |||
Initial Cost to Company, Buildings and Improvements | 1,833 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 300 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 1,833 | |||
Gross Amount at Which Carried as of Close of Period, Total | 2,133 | |||
Accumulated Depreciation | $ (22) | |||
Life on Which Building Depreciation in Income Statement is Computed | 37 years | |||
Medical Village at Maitland | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 2,393 | |||
Initial Cost to Company, Buildings and Improvements | 18,543 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 2,393 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 18,543 | |||
Gross Amount at Which Carried as of Close of Period, Total | 20,936 | |||
Accumulated Depreciation | $ (153) | |||
Life on Which Building Depreciation in Income Statement is Computed | 44 years | |||
Tri-State Orthopaedics MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 1,580 | |||
Initial Cost to Company, Buildings and Improvements | 14,162 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 1,580 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 14,162 | |||
Gross Amount at Which Carried as of Close of Period, Total | 15,742 | |||
Accumulated Depreciation | $ (138) | |||
Life on Which Building Depreciation in Income Statement is Computed | 37 years | |||
Maury Regional Healthcare 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 | 15,619 | |||
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 | 15,619 | |||
Gross Amount at Which Carried as of Close of Period, Total | 15,619 | |||
Accumulated Depreciation | $ (101) | |||
Life on Which Building Depreciation in Income Statement is Computed | 41 years | |||
Spring Ridge Medical Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 28 | |||
Initial Cost to Company, Buildings and Improvements | 4,943 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 28 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 4,943 | |||
Gross Amount at Which Carried as of Close of Period, Total | 4,971 | |||
Accumulated Depreciation | $ (35) | |||
Life on Which Building Depreciation in Income Statement is Computed | 37 years | |||
Doctors Community Hospital POB | ||||
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 | 23,034 | |||
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 | 23,034 | |||
Gross Amount at Which Carried as of Close of Period, Total | 23,034 | |||
Accumulated Depreciation | $ (120) | |||
Life on Which Building Depreciation in Income Statement is Computed | 48 years | |||
Gig Harbor 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 | 4,791 | |||
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 | 4,791 | |||
Gross Amount at Which Carried as of Close of Period, Total | 4,791 | |||
Accumulated Depreciation | $ (54) | |||
Life on Which Building Depreciation in Income Statement is Computed | 30 years | |||
Midlands One Professional 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 | 14,922 | |||
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 | 14,922 | |||
Gross Amount at Which Carried as of Close of Period, Total | 14,922 | |||
Accumulated Depreciation | $ (101) | |||
Life on Which Building Depreciation in Income Statement is Computed | 37 years | |||
N.W. Michigan Surgery Center Units 1, 2, & 4 | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 2,748 | |||
Initial Cost to Company, Buildings and Improvements | 30,005 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 2,748 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 30,005 | |||
Gross Amount at Which Carried as of Close of Period, Total | 32,753 | |||
Accumulated Depreciation | $ (130) | |||
Life on Which Building Depreciation in Income Statement is Computed | 40 years | |||
Northeast Medical Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 3,899 | |||
Initial Cost to Company, Buildings and Improvements | 25,564 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 3,899 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 25,564 | |||
Gross Amount at Which Carried as of Close of Period, Total | 29,463 | |||
Accumulated Depreciation | $ (78) | |||
Life on Which Building Depreciation in Income Statement is Computed | 33 years | |||
North Medical Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 1,232 | |||
Initial Cost to Company, Buildings and Improvements | 18,680 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 1,232 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 18,680 | |||
Gross Amount at Which Carried as of Close of Period, Total | 19,912 | |||
Accumulated Depreciation | $ (50) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
Cincinnati Eye Institute | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 2,050 | |||
Initial Cost to Company, Buildings and Improvements | 32,546 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 2,050 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 32,546 | |||
Gross Amount at Which Carried as of Close of Period, Total | 34,596 | |||
Accumulated Depreciation | $ (162) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
HonorHealth - Scottsdale 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 | 4,288 | |||
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 | 4,288 | |||
Gross Amount at Which Carried as of Close of Period, Total | 4,288 | |||
Accumulated Depreciation | $ (10) | |||
Life on Which Building Depreciation in Income Statement is Computed | 45 years | |||
Fox Valley Hematology & Oncology | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 1,590 | |||
Initial Cost to Company, Buildings and Improvements | 26,666 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 1,590 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 26,666 | |||
Gross Amount at Which Carried as of Close of Period, Total | 28,256 | |||
Accumulated Depreciation | $ (52) | |||
Life on Which Building Depreciation in Income Statement is Computed | 44 years | |||
Gastrointestinal Associates MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 937 | |||
Initial Cost to Company, Buildings and Improvements | 3,214 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 937 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 3,214 | |||
Gross Amount at Which Carried as of Close of Period, Total | 4,151 | |||
Accumulated Depreciation | $ (10) | |||
Life on Which Building Depreciation in Income Statement is Computed | 30 years | |||
Northern Vision Eye Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 490 | |||
Initial Cost to Company, Buildings and Improvements | 2,132 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 490 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 2,132 | |||
Gross Amount at Which Carried as of Close of Period, Total | 2,622 | |||
Accumulated Depreciation | $ (5) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
Flower Mound MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 1,945 | |||
Initial Cost to Company, Buildings and Improvements | 8,312 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 1,945 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 8,312 | |||
Gross Amount at Which Carried as of Close of Period, Total | 10,257 | |||
Accumulated Depreciation | $ (18) | |||
Life on Which Building Depreciation in Income Statement is Computed | 43 years | |||
Carrollton MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company, Land | 2,183 | |||
Initial Cost to Company, Buildings and Improvements | 10,461 | |||
Initial Cost to Company, Cost Capitalized Subsequent to Acquisitions | 0 | |||
Gross Amount at Which Carried as of Close of Period, Land | 2,183 | |||
Gross Amount at Which Carried as of Close of Period, Buildings and Improvements | 10,461 | |||
Gross Amount at Which Carried as of Close of Period, Total | 12,644 | |||
Accumulated Depreciation | $ (24) | |||
Life on Which Building Depreciation in Income Statement is Computed | 40 years | |||
HonorHealth IRF | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 10,000 | |||
Initial Cost to Company, Land | 0 | |||
Initial Cost to Company, Buildings and Improvements | 19,331 | |||
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 | 19,331 | |||
Gross Amount at Which Carried as of Close of Period, Total | 19,331 | |||
Accumulated Depreciation | $ 0 | |||
Life on Which Building Depreciation in Income Statement is Computed | 42 years |
SCHEDULE III - REAL ESTATE AN90
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION (Details 2) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract] | |||
Aggregate cost for federal Income tax purposes | $ 2,490,000 | ||
Accumulated tax depreciation | 94,400 | ||
Aggregate cost for federal income tax purposes, net of accumulated tax depreciation | 2,390,000 | ||
SEC Schedule III, Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Balance as of the beginning of the year | 1,424,894 | $ 729,034 | |
Acquisitions | 1,170,593 | 695,693 | $ 505,379 |
Additions | 11,049 | 4,440 | 900 |
Impairment | 0 | 0 | (1,750) |
Dispositions | 0 | (4,273) | (225) |
Balance as of the end of the year | 2,606,536 | 1,424,894 | 729,034 |
SEC Schedule III, Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Balance as of the beginning of the year | 61,242 | 32,772 | |
Depreciation | 57,367 | 29,958 | 12,473 |
Dispositions | 0 | (1,488) | 0 |
Balance as of the end of the year | $ 118,609 | $ 61,242 | $ 32,772 |