Document and Entity Information
Document and Entity Information - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Feb. 15, 2017 | Jun. 30, 2016 | |
Entity Information [Line Items] | |||
Entity Registrant Name | HEALTHCARE TRUST OF AMERICA, INC. | ||
Entity Central Index Key | 1,360,604 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2016 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 141,722,001 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 4,424,137 | ||
Healthcare Trust of America Holdings, LP (HTALP) | |||
Entity Information [Line Items] | |||
Entity Registrant Name | Healthcare Trust of America Holdings, LP | ||
Entity Central Index Key | 1,495,491 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2016 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Real estate investments: | ||
Land | $ 386,526 | $ 303,706 |
Building and improvements | 3,466,516 | 2,901,157 |
Lease intangibles | 467,571 | 430,749 |
Real estate investments, gross | 4,320,613 | 3,635,612 |
Accumulated depreciation and amortization | (817,593) | (676,144) |
Real estate investments, net | 3,503,020 | 2,959,468 |
Cash and cash equivalents | 11,231 | 13,070 |
Restricted cash and escrow deposits | 13,814 | 15,892 |
Receivables and other assets, net | 173,461 | 141,703 |
Other intangibles, net | 46,318 | 42,167 |
Total assets | 3,747,844 | 3,172,300 |
Liabilities: | ||
Debt | 1,768,905 | 1,590,696 |
Accounts payable and accrued liabilities | 105,034 | 94,933 |
Derivative financial instruments - interest rate swaps | 1,920 | 2,370 |
Security deposits, prepaid rent and other liabilities | 49,859 | 46,295 |
Intangible liabilities, net | 37,056 | 26,611 |
Total liabilities | 1,962,774 | 1,760,905 |
Commitments and contingencies | ||
Redeemable noncontrolling interests | 4,653 | 4,437 |
Equity/Partners' Capital: | ||
Preferred stock, $0.01 par value; 200,000,000 shares authorized; none issued and outstanding | 0 | 0 |
Class A common stock, $0.01 par value; 1,000,000,000 shares authorized; 141,719,134 and 127,026,839 shares issued and outstanding as of December 31, 2016 and 2015, respectively | 1,417 | 1,270 |
Additional paid-in capital | 2,754,818 | 2,328,806 |
Cumulative dividends in excess of earnings | (1,068,961) | (950,652) |
Total stockholders’ equity | 1,687,274 | 1,379,424 |
Noncontrolling interests | 93,143 | 27,534 |
Total equity | 1,780,417 | 1,406,958 |
Total liabilities and equity/partners' capital | 3,747,844 | 3,172,300 |
Healthcare Trust of America Holdings, LP (HTALP) | ||
Real estate investments: | ||
Land | 386,526 | 303,706 |
Building and improvements | 3,466,516 | 2,901,157 |
Lease intangibles | 467,571 | 430,749 |
Real estate investments, gross | 4,320,613 | 3,635,612 |
Accumulated depreciation and amortization | (817,593) | (676,144) |
Real estate investments, net | 3,503,020 | 2,959,468 |
Cash and cash equivalents | 11,231 | 13,070 |
Restricted cash and escrow deposits | 13,814 | 15,892 |
Receivables and other assets, net | 173,461 | 141,703 |
Other intangibles, net | 46,318 | 42,167 |
Total assets | 3,747,844 | 3,172,300 |
Liabilities: | ||
Debt | 1,768,905 | 1,590,696 |
Accounts payable and accrued liabilities | 105,034 | 94,933 |
Derivative financial instruments - interest rate swaps | 1,920 | 2,370 |
Security deposits, prepaid rent and other liabilities | 49,859 | 46,295 |
Intangible liabilities, net | 37,056 | 26,611 |
Total liabilities | 1,962,774 | 1,760,905 |
Commitments and contingencies | ||
Redeemable noncontrolling interests | 4,653 | 4,437 |
Equity/Partners' Capital: | ||
Limited partners’ capital, 4,323,095 and 1,929,942 units issued and outstanding as of December 31, 2016 and 2015, respectively | 92,873 | 27,264 |
General partners’ capital, 141,719,134 and 127,026,839 units issued and outstanding as of December 31, 2016 and 2015, respectively | 1,687,544 | 1,379,694 |
Total partners’ capital | 1,780,417 | 1,406,958 |
Total liabilities and equity/partners' capital | $ 3,747,844 | $ 3,172,300 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2016 | Dec. 31, 2015 |
Equity: | ||
Preferred stock, par value (usd per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 200,000,000 | 200,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Class A Common Stock | ||
Equity: | ||
Common stock, par value (usd per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Common stock, shares issued | 141,719,134 | 127,026,839 |
Common stock, shares outstanding | 141,719,134 | 127,026,839 |
Healthcare Trust of America Holdings, LP (HTALP) | ||
Partners’ Capital: | ||
Limited partner's capital, units issued | 4,323,095 | 1,929,942 |
Limited partner's capital, units outstanding | 4,323,095 | 1,929,942 |
General partner's capital, units issued | 141,719,134 | 127,026,839 |
General partner's capital, units outstanding | 141,719,134 | 127,026,839 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Revenues: | ||||
Rental income | $ 460,563 | $ 403,553 | $ 369,571 | |
Interest and other operating income | 365 | 269 | 1,934 | |
Total revenues | 460,928 | 403,822 | 371,505 | |
Expenses: | ||||
Rental | 143,751 | 123,390 | 113,508 | |
General and administrative | 28,773 | 25,578 | 24,947 | |
Acquisition-related | 6,538 | 4,555 | 9,545 | |
Depreciation and amortization | 176,866 | 154,134 | 140,432 | |
Impairment | 3,080 | 2,581 | 0 | |
Total expenses | 359,008 | 310,238 | 288,432 | |
Income before other income (expense) | 101,920 | 93,584 | 83,073 | |
Interest expense: | ||||
Interest related to derivative financial instruments | (2,377) | (3,140) | (5,904) | |
Gain (loss) on change in fair value of derivative financial instruments, net | 1,344 | (769) | (2,870) | |
Total interest related to derivative financial instruments, including net change in fair value of derivative financial instruments | (1,033) | (3,909) | (8,774) | |
Interest related to debt | (59,769) | (54,967) | (51,585) | |
Gain on sales of real estate, net | 8,966 | 152 | 27,894 | |
(Loss) gain on extinguishment of debt, net | (3,025) | 123 | (4,663) | |
Other income (expense) | 286 | (1,426) | 49 | |
Net income | 47,345 | 33,557 | 45,994 | |
Net income attributable to noncontrolling interests | [1] | (1,433) | (626) | (623) |
Net income attributable to common stockholders/unitholders | $ 45,912 | $ 32,931 | $ 45,371 | |
Earnings per common share/unit - basic: | ||||
Net income attributable to common stockholders/unitholders (usd per share) | $ 0.34 | $ 0.26 | $ 0.38 | |
Earnings per common share/unit - diluted: | ||||
Net income attributable to common stockholders/unitholders (usd per share) | $ 0.33 | $ 0.26 | $ 0.37 | |
Weighted average number of common shares/units outstanding: | ||||
Basic (in shares/units) | 136,620 | 126,074 | 119,904 | |
Diluted (in shares/units) | 140,259 | 128,004 | 121,168 | |
Healthcare Trust of America Holdings, LP (HTALP) | ||||
Revenues: | ||||
Rental income | $ 460,563 | $ 403,553 | $ 369,571 | |
Interest and other operating income | 365 | 269 | 1,934 | |
Total revenues | 460,928 | 403,822 | 371,505 | |
Expenses: | ||||
Rental | 143,751 | 123,390 | 113,508 | |
General and administrative | 28,773 | 25,578 | 24,947 | |
Acquisition-related | 6,538 | 4,555 | 9,545 | |
Depreciation and amortization | 176,866 | 154,134 | 140,432 | |
Impairment | 3,080 | 2,581 | 0 | |
Total expenses | 359,008 | 310,238 | 288,432 | |
Income before other income (expense) | 101,920 | 93,584 | 83,073 | |
Interest expense: | ||||
Interest related to derivative financial instruments | (2,377) | (3,140) | (5,904) | |
Gain (loss) on change in fair value of derivative financial instruments, net | 1,344 | (769) | (2,870) | |
Total interest related to derivative financial instruments, including net change in fair value of derivative financial instruments | (1,033) | (3,909) | (8,774) | |
Interest related to debt | (59,769) | (54,967) | (51,585) | |
Gain on sales of real estate, net | 8,966 | 152 | 27,894 | |
(Loss) gain on extinguishment of debt, net | (3,025) | 123 | (4,663) | |
Other income (expense) | 286 | (1,426) | 49 | |
Net income | 47,345 | 33,557 | 45,994 | |
Net income attributable to noncontrolling interests | (118) | (112) | (133) | |
Net income attributable to common stockholders/unitholders | $ 47,227 | $ 33,445 | $ 45,861 | |
Earnings per common share/unit - basic: | ||||
Net income attributable to common stockholders/unitholders (usd per share) | $ 0.34 | $ 0.26 | $ 0.38 | |
Earnings per common share/unit - diluted: | ||||
Net income attributable to common stockholders/unitholders (usd per share) | $ 0.34 | $ 0.26 | $ 0.38 | |
Weighted average number of common shares/units outstanding: | ||||
Basic (in shares/units) | 140,259 | 128,079 | 121,340 | |
Diluted (in shares/units) | 140,259 | 128,079 | 121,340 | |
[1] | Includes amounts attributable to redeemable noncontrolling interests. |
Consolidated Statements of Equi
Consolidated Statements of Equity - USD ($) $ in Thousands | Total | Shares | Common StockShares | Additional Paid-In Capital | [1] | Cumulative Dividends in Excess of Earnings | Total Stockholders’ Equity | Noncontrolling Interest | ||
Beginning balance (in shares) at Dec. 31, 2013 | [1] | 118,440,000 | ||||||||
Beginning balance at Dec. 31, 2013 | $ 1,399,749 | $ 1,184 | [1] | $ 2,128,082 | $ (742,060) | $ 1,387,206 | $ 12,543 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Issuance of common stock (in shares) | [1] | 6,371,000 | ||||||||
Issuance of common stock, net | 152,014 | $ 64 | [1] | 151,950 | 152,014 | |||||
Issuance of operating partnership units | 16,960 | 16,960 | ||||||||
Share-based award transactions, net (in shares) | [1] | 263,000 | ||||||||
Share-based award transactions, net | 4,383 | $ 3 | [1] | 4,380 | 4,383 | |||||
Repurchase and cancellation of common stock (in shares) | [1] | (48,000) | ||||||||
Repurchase and cancellation of common stock | (1,056) | $ (1) | [1] | (1,055) | (1,056) | |||||
Redemption of noncontrolling interest and other | [1] | (61,000) | ||||||||
Redemption of noncontrolling interest and other | (429) | $ 1 | [1] | (1,425) | (1,424) | 995 | ||||
Dividends | (141,010) | (139,355) | (139,355) | (1,655) | ||||||
Net income | 45,810 | 45,371 | 45,371 | 439 | ||||||
Ending balance (in shares) at Dec. 31, 2014 | [1] | 125,087,000 | ||||||||
Ending balance at Dec. 31, 2014 | 1,476,421 | $ 1,251 | [1] | 2,281,932 | (836,044) | 1,447,139 | 29,282 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Issuance of common stock (in shares) | [1] | 1,800,000 | ||||||||
Issuance of common stock, net | 43,649 | $ 18 | [1] | 43,631 | 43,649 | |||||
Share-based award transactions, net (in shares) | [1] | 202,000 | ||||||||
Share-based award transactions, net | 5,724 | $ 2 | [1] | 5,722 | 5,724 | |||||
Repurchase and cancellation of common stock (in shares) | [1] | (62,000) | ||||||||
Repurchase and cancellation of common stock | (1,667) | $ (1) | [1] | (1,666) | (1,667) | |||||
Redemption of noncontrolling interest and other | (813) | (813) | (813) | |||||||
Dividends | (149,801) | (147,539) | (147,539) | (2,262) | ||||||
Net income | 33,445 | 32,931 | 32,931 | 514 | ||||||
Ending balance (in shares) at Dec. 31, 2015 | 127,026,839 | 127,027,000 | [1] | |||||||
Ending balance at Dec. 31, 2015 | 1,406,958 | $ 1,270 | [1] | 2,328,806 | (950,652) | 1,379,424 | 27,534 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Issuance of common stock (in shares) | [1] | 14,138,000 | ||||||||
Issuance of common stock, net | 417,163 | $ 141 | [1] | 417,022 | 417,163 | |||||
Issuance of operating partnership units | 74,460 | 74,460 | ||||||||
Share-based award transactions, net (in shares) | [1] | 391,000 | ||||||||
Share-based award transactions, net | 7,071 | $ 4 | [1] | 7,067 | 7,071 | |||||
Repurchase and cancellation of common stock (in shares) | [1] | (94,000) | ||||||||
Repurchase and cancellation of common stock | (2,642) | $ (1) | [1] | (2,641) | (2,642) | |||||
Redemption of noncontrolling interest and other | [1] | 257,000 | ||||||||
Redemption of noncontrolling interest and other | (1,142) | $ 3 | [1] | 4,564 | 4,567 | (5,709) | ||||
Dividends | (168,678) | (164,221) | (164,221) | (4,457) | ||||||
Net income | 47,227 | 45,912 | 45,912 | 1,315 | ||||||
Ending balance (in shares) at Dec. 31, 2016 | 141,719,134 | 141,719,000 | [1] | |||||||
Ending balance at Dec. 31, 2016 | $ 1,780,417 | $ 1,417 | [1] | $ 2,754,818 | $ (1,068,961) | $ 1,687,274 | $ 93,143 | |||
[1] | For the year ended December 31, 2013, amounts have been adjusted retroactively to reflect the Reverse Stock Split effected on December 15, 2014. |
Consolidated Statements of Equ6
Consolidated Statements of Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Stockholders' Equity [Abstract] | |||
Dividends declared per common share (in usd per share) | $ 1.190 | $ 1.170 | $ 1.155 |
Consolidated Statements of Chan
Consolidated Statements of Changes In Partners' Capital - USD ($) shares in Thousands, $ in Thousands | Total | Healthcare Trust of America Holdings, LP (HTALP) | Healthcare Trust of America Holdings, LP (HTALP)General Partners’ Capital | Healthcare Trust of America Holdings, LP (HTALP)Limited Partners’ Capital | |||
Balance as of beginning of period (in units) at Dec. 31, 2013 | [1] | 118,440 | 1,527 | ||||
Balance as of beginning of period at Dec. 31, 2013 | $ 1,401,294 | $ 1,387,476 | $ 13,818 | ||||
Increase (Decrease) in Partners' Capital [Roll Forward] | |||||||
Issuance of general partner units (in units) | [1] | 6,371 | |||||
Issuance of general partner units, net | 152,014 | $ 152,014 | |||||
Issuance of limited partner units in connection with acquisitions (in units) | [1] | 692 | |||||
Issuance of limited partner units | 16,960 | $ 16,960 | |||||
Share-based award transactions, net (in units) | [1] | 263 | (3) | ||||
Share-based award transactions, net | 4,383 | $ 4,383 | $ 0 | ||||
Redemptions of general partner units (in units) | [1] | (48) | |||||
Redemption and cancellation of general partner units | (1,056) | $ (1,056) | |||||
Redemption of limited partner units and other (in units) | [1] | 61 | (61) | ||||
Redemption of limited partner units and other | (2,025) | $ (1,424) | $ (601) | ||||
Distributions | (141,010) | (139,355) | [1] | (1,655) | [1] | ||
Net income | $ 45,371 | 45,861 | $ 45,371 | $ 490 | |||
Balance as of end of period (in units) at Dec. 31, 2014 | [1] | 125,087 | 2,155 | ||||
Balance as of end of period at Dec. 31, 2014 | 1,476,421 | $ 1,447,409 | $ 29,012 | ||||
Increase (Decrease) in Partners' Capital [Roll Forward] | |||||||
Issuance of general partner units (in units) | [1] | 1,800 | |||||
Issuance of general partner units, net | 43,649 | $ 43,649 | |||||
Share-based award transactions, net (in units) | [1] | 202 | (225) | ||||
Share-based award transactions, net | 5,724 | $ 5,724 | |||||
Redemptions of general partner units (in units) | [1] | (62) | |||||
Redemption and cancellation of general partner units | (1,667) | $ (1,667) | |||||
Redemption of limited partner units and other | (813) | (813) | |||||
Distributions | (149,801) | (147,539) | $ (2,262) | ||||
Net income | 32,931 | 33,445 | $ 32,931 | $ 514 | |||
Balance as of end of period (in units) at Dec. 31, 2015 | [1] | 127,027 | 1,930 | ||||
Balance as of end of period at Dec. 31, 2015 | 1,406,958 | $ 1,379,694 | $ 27,264 | ||||
Increase (Decrease) in Partners' Capital [Roll Forward] | |||||||
Issuance of general partner units (in units) | [1] | 14,138 | |||||
Issuance of general partner units, net | 417,163 | $ 417,163 | |||||
Issuance of limited partner units in connection with acquisitions (in units) | [1] | 2,650 | |||||
Issuance of limited partner units | 74,460 | $ 74,460 | |||||
Share-based award transactions, net (in units) | [1] | 391 | 0 | ||||
Share-based award transactions, net | 7,071 | $ 7,071 | |||||
Redemptions of general partner units (in units) | [1] | (94) | |||||
Redemption and cancellation of general partner units | (2,642) | $ (2,642) | |||||
Redemption of limited partner units and other (in units) | [1] | 257 | (257) | ||||
Redemption of limited partner units and other | (1,142) | $ 4,567 | $ (5,709) | ||||
Distributions | (168,678) | (164,221) | (4,457) | ||||
Net income | $ 45,912 | 47,227 | $ 45,912 | $ 1,315 | |||
Balance as of end of period (in units) at Dec. 31, 2016 | [1] | 141,719 | 4,323 | ||||
Balance as of end of period at Dec. 31, 2016 | $ 1,780,417 | $ 1,687,544 | $ 92,873 | ||||
[1] | For the year ended December 31, 2013, amounts have been adjusted retroactively to reflect the Reverse Stock Split effected on December 15, 2014. |
Consolidated Statements of Cha8
Consolidated Statements of Changes in Partners' Capital (Parenthetical) - Healthcare Trust of America Holdings, LP (HTALP) - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
General Partners’ Capital | |||
Dividends per common unit general and limited (dollars per unit) | $ 1.190 | $ 1.170 | $ 1.155 |
Limited Partners’ Capital | |||
Dividends per common unit general and limited (dollars per unit) | $ 1.190 | $ 1.170 | $ 1.155 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Cash flows from operating activities: | |||
Net income | $ 47,345 | $ 33,557 | $ 45,994 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation, amortization and other | 175,285 | 151,614 | 137,188 |
Share-based compensation expense | 7,071 | 5,724 | 4,383 |
Bad debt expense | 846 | 828 | 312 |
Gain on sales of real estate, net | (8,966) | (152) | (27,894) |
Impairment | 3,080 | 2,581 | 0 |
Loss (gain) on extinguishment of debt, net | 3,025 | (123) | 4,663 |
Change in fair value of derivative financial instruments | (1,344) | 769 | 2,870 |
Changes in operating assets and liabilities: | |||
Receivables and other assets, net | (22,080) | (7,508) | (9,252) |
Accounts payable and accrued liabilities | 2,171 | (6,284) | 12,262 |
Security deposits, prepaid rent and other liabilities | (2,738) | 10,089 | (2,027) |
Net cash provided by operating activities | 203,695 | 191,095 | 168,499 |
Cash flows from investing activities: | |||
Investments in real estate | (591,954) | (279,334) | (307,271) |
Acquisition of note receivable | 0 | 0 | (11,924) |
Proceeds from the sales of real estate | 26,555 | 34,629 | 78,854 |
Capital expenditures | (42,994) | (29,270) | (29,037) |
Collection of real estate notes receivable | 0 | 0 | 28,520 |
Restricted cash, escrow deposits and other assets | 2,078 | 4,711 | (18,844) |
Net cash used in investing activities | (606,315) | (269,264) | (259,702) |
Cash flows from financing activities: | |||
Borrowings on unsecured revolving credit facility | 574,000 | 454,000 | 294,000 |
Payments on unsecured revolving credit facility | (704,000) | (272,000) | (313,000) |
Proceeds from unsecured senior notes | 347,725 | 0 | 297,615 |
Borrowings on unsecured term loans | 200,000 | 100,000 | 0 |
Payments on unsecured term loans | (155,000) | 0 | (100,000) |
Payments on secured mortgage loans | (110,935) | (94,856) | (92,236) |
Deferred financing costs | (3,191) | (204) | (12,112) |
Derivative financial instrument termination payments | 0 | 0 | (1,675) |
Security deposits | 924 | (243) | (1,025) |
Proceeds from issuance of common stock | 418,891 | 44,324 | 152,014 |
Proceeds from issuance of general partner units | 2,706 | 0 | 0 |
Repurchase and cancellation of common stock | (2,642) | (1,667) | (1,056) |
Redemption of redeemable noncontrolling interests | (4,572) | 0 | 0 |
Dividends paid | (159,174) | (146,372) | (137,158) |
Distributions to noncontrolling interest of limited partners | (3,951) | (2,156) | (1,832) |
Net cash provided by financing activities | 400,781 | 80,826 | 83,535 |
Net change in cash and cash equivalents | (1,839) | 2,657 | (7,668) |
Cash and cash equivalents - beginning of year | 13,070 | 10,413 | 18,081 |
Cash and cash equivalents - end of year | 11,231 | 13,070 | 10,413 |
Healthcare Trust of America Holdings, LP (HTALP) | |||
Cash flows from operating activities: | |||
Net income | 47,345 | 33,557 | 45,994 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation, amortization and other | 175,285 | 151,614 | 137,188 |
Share-based compensation expense | 7,071 | 5,724 | 4,383 |
Bad debt expense | 846 | 828 | 312 |
Gain on sales of real estate, net | (8,966) | (152) | (27,894) |
Impairment | 3,080 | 2,581 | 0 |
Loss (gain) on extinguishment of debt, net | 3,025 | (123) | 4,663 |
Change in fair value of derivative financial instruments | (1,344) | 769 | 2,870 |
Changes in operating assets and liabilities: | |||
Receivables and other assets, net | (22,080) | (7,508) | (9,252) |
Accounts payable and accrued liabilities | 2,171 | (6,284) | 12,262 |
Security deposits, prepaid rent and other liabilities | (2,738) | 10,089 | (2,027) |
Net cash provided by operating activities | 203,695 | 191,095 | 168,499 |
Cash flows from investing activities: | |||
Investments in real estate | (591,954) | (279,334) | (307,271) |
Acquisition of note receivable | 0 | 0 | (11,924) |
Proceeds from the sales of real estate | 26,555 | 34,629 | 78,854 |
Capital expenditures | (42,994) | (29,270) | (29,037) |
Collection of real estate notes receivable | 0 | 0 | 28,520 |
Restricted cash, escrow deposits and other assets | 2,078 | 4,711 | (18,844) |
Net cash used in investing activities | (606,315) | (269,264) | (259,702) |
Cash flows from financing activities: | |||
Borrowings on unsecured revolving credit facility | 574,000 | 454,000 | 294,000 |
Payments on unsecured revolving credit facility | (704,000) | (272,000) | (313,000) |
Proceeds from unsecured senior notes | 347,725 | 0 | 297,615 |
Borrowings on unsecured term loans | 200,000 | 100,000 | 0 |
Payments on unsecured term loans | (155,000) | 0 | (100,000) |
Payments on secured mortgage loans | (110,935) | (94,856) | (92,236) |
Deferred financing costs | (3,191) | (204) | (12,112) |
Derivative financial instrument termination payments | 0 | 0 | (1,675) |
Security deposits | 924 | (243) | (1,025) |
Proceeds from issuance of general partner units | 418,891 | 44,324 | 152,014 |
Issuance of limited partner units | 2,706 | 0 | 0 |
Repurchase and cancellation of general partner units | (2,642) | (1,667) | (1,056) |
Redemption of redeemable noncontrolling interests | (4,572) | 0 | 0 |
Distributions paid to general partner | (159,174) | (146,372) | (137,158) |
Distributions to limited partners and redeemable noncontrolling interests | (3,951) | (2,156) | (1,832) |
Net cash provided by financing activities | 400,781 | 80,826 | 83,535 |
Net change in cash and cash equivalents | (1,839) | 2,657 | (7,668) |
Cash and cash equivalents - beginning of year | 13,070 | 10,413 | 18,081 |
Cash and cash equivalents - end of year | $ 11,231 | $ 13,070 | $ 10,413 |
Organization and Description of
Organization and Description of Business | 12 Months Ended |
Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Description of Business | Organization and Description of Business HTA, a Maryland corporation, and HTALP , a Delaware limited partnership, were incorporated or formed, as applicable, on April 20, 2006 . HTA operates as a REIT and is the general partner of HTALP , which is the operating partnership. As of December 31, 2016 , HTA owned a 97.0% partnership interest and other limited partners, including some of HTA’s directors, executive officers and their affiliates, owned the remaining partnership interest (including the LTIP units) in HTALP . As the sole general partner of HTALP , HTA has the full, exclusive and complete responsibility for HTALP ’s day-to-day management and control. HTA operates in an umbrella partnership REIT structure in which HTALP and its subsidiaries hold substantially all of the assets. HTA’s only material asset is its ownership of partnership interests of HTALP . As a result, HTA does not conduct business itself, other than acting as the sole general partner of HTALP , issuing public equity from time to time and guaranteeing certain debts of HTALP . HTALP conducts the operations of the business and issues publicly-traded debt, but has no publicly-traded equity. HTA is one of the largest publicly-traded REITs focused on MOBs in the U.S. as measured by the GLA of its MOBs. HTA conducts substantially all of its operations through HTALP. We invest in MOBs that we believe will serve the future of healthcare delivery, and MOBs that are primarily located on health system campuses, near university medical centers, or in core community outpatient locations. We also focus on our key markets that have certain demographic and macro-economic trends and where we can utilize our institutional property management and leasing platform to generate strong tenant relationships and operating cost efficiencies. Our primary objective is to maximize stockholder value with disciplined growth through strategic investments that provide an attractive risk-adjusted return for our stockholders by consistently increasing our cash flow. In pursuing this objective, we: (i) seek internal growth through proactive asset management, leasing and property management oversight; (ii) target accretive acquisitions of MOBs in markets with attractive demographics that complement our existing portfolio; and (iii) actively manage our balance sheet to maintain flexibility with conservative leverage. HTA has qualified to be taxed as a REIT for federal income tax purposes and intends to continue to be taxed as a REIT. Since 2006, we have invested $4.2 billion to create a portfolio of MOBs and other healthcare assets consisting of approximately 17.7 million square feet of GLA throughout the U.S. As of December 31, 2016 , approximately 97% of our portfolio, based on GLA, was located on the campuses of, or aligned with, nationally or regionally recognized healthcare systems. Our portfolio is diversified geographically across 31 states, with no state having more than 13% of our total GLA as of December 31, 2016 . We are concentrated in 20 to 25 key markets that are experiencing higher economic and demographic trends than other markets, on average, that we expect will drive demand for MOBs. Approximately 92% of our portfolio, based on GLA, is located in top 75 MSAs with Boston, Hartford/New Haven, Dallas, Houston, Phoenix and Orange County/Los Angeles being our largest markets by investment. Effective December 15, 2014, HTA completed a Reverse Stock Split of its common stock. As a result of the Reverse Stock Split, every two issued and outstanding shares of common stock were converted into one share of common stock. HTA’s par value and shares authorized remained unchanged. Concurrently with the Reverse Stock Split, HTALP effected a corresponding Reverse Stock Split of its outstanding units of limited partnership interests. The weighted average shares/units outstanding and per share/unit amounts for all periods prior to 2015 have been adjusted retroactively to reflect the Reverse Stock Split. Our principal executive office is located at 16435 North Scottsdale Road, Suite 320, Scottsdale, Arizona, 85254. |
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 The summary of significant accounting policies presented below is designed to assist in understanding our consolidated financial statements. Such consolidated financial statements and the accompanying notes are the representations of our management, who are responsible for their integrity and objectivity. These accounting policies conform to GAAP in all material respects and have been consistently applied in preparing our accompanying consolidated financial statements. Basis of Presentation Our accompanying consolidated financial statements include our accounts and those of our subsidiaries and any consolidated VIEs. All inter-company balances and transactions have been eliminated in the accompanying consolidated financial statements. Principles of Consolidation As of January 1, 2016, the Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2015-02 and ASU 2016-17, as described below in “Recently Issued or Adopted Accounting Pronouncements”, which simplifies consolidation accounting by reducing the number of consolidation models and changing various aspects of current GAAP, including certain consolidation criteria for VIEs. The consolidated financial statements include our accounts of those of our subsidiaries and consolidated joint venture arrangements. The portions of the operating partnership not owned by us are presented as non-controlling interests in our consolidated balance sheets and statements of operations, consolidated statements of equity, and consolidated statements of changes in partners’ capital. The portions of other joint venture arrangements not owned by us are presented as redeemable non-controlling interests in our consolidated balance sheets. In addition, as described in Note 1 - Organization and Description of Business , certain third parties have been issued OP Units. Holders of OP Units are considered to be non-controlling interest holders in HTALP and their ownership interests are reflected as equity in the consolidated balance sheets. Further, a portion of the earnings and losses of HTALP are allocated to non-controlling interest holders based on their respective ownership percentages. Upon conversion of OP Units to common stock, any difference between the fair value of common shares issued and the carrying value of the OP Units converted is recorded as a component of equity. As of December 31, 2016 , 2015 and 2014 , there were approximately 4.3 million , 1.9 million and 2.2 million , respectively, of OP Units issued and outstanding. VIEs are entities where investors lack sufficient equity at risk for the entity to finance its activities without additional subordinated financial support or where equity investors, as a group, lack one of the following: (i) the power to direct the activities that most significantly impact the entity’s economic performance; (ii) the obligation to absorb the expected losses of the entity; and (iii) the right to receive the expected returns of the entity. We consolidate our investment in VIEs when we determine that we are the primary beneficiary. A primary beneficiary is one that has both: (i) the power to direct the activities of the VIE that most significantly impacts the entity’s economic performance; and (ii) the obligation to absorb losses or the right to receive benefits of the VIE that could be significant to the entity. Our analysis of FASB ASU 2015-02 and ASU 2016-17 concluded that our operating partnership and other joint venture arrangements are VIEs, as the limited partners in the related partnerships, although entitled to vote on certain matters, do not possess kick-out rights or substantive participating rights. Additionally, we determined we are the primary beneficiary of our VIEs. Accordingly, we consolidate our interests in the operating partnership and other joint venture arrangements. Although, as we hold what is deemed a majority voting interest in the operating partnership and other joint venture arrangements, it qualifies for the exemption from providing certain disclosure requirements associated with investments in VIEs. We will evaluate on an ongoing basis the need to consolidate entities based on the standards set forth in GAAP as described above. Use of Estimates The preparation of our consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. These estimates are made and evaluated on an ongoing basis using information that is currently available as well as various other assumptions believed to be reasonable under the circumstances. Actual results could differ from those estimates, perhaps in adverse ways, and those estimates could be different under different assumptions or conditions. Cash and Cash Equivalents Cash and cash equivalents consist of all highly liquid investments with a maturity of three months or less when purchased. Restricted Cash Restricted cash is comprised of reserve accounts for property taxes, insurance, capital improvements and tenant improvements as well as collateral accounts for debt and interest rate swaps. Revenue Recognition, Tenant Receivables and Allowance for Uncollectible Accounts Minimum annual rental revenue is recognized on a straight-line basis over the term of the related lease (including rent holidays). Differences between rental income recognized and amount contractually due under the lease agreements are recorded as straight-line rent receivables. Tenant reimbursement revenue, which is comprised of additional amounts recoverable from tenants for common area maintenance expenses and certain other recoverable expenses, is recognized as revenue in the period in which the related expenses are incurred. Tenant reimbursements are recorded on a gross basis, as we are generally the primary obligor with respect to purchasing goods and services from third-party suppliers, have discretion in selecting the supplier, and have credit risk. We recognize lease termination fees when there is a signed termination letter agreement, all of the conditions of the agreement have been met, and the tenant is no longer occupying the property. Rental income is reported net of amortization of inducements. Tenant receivables and straight-line rent receivables are carried net of the allowances for uncollectible amounts. An allowance is maintained for estimated losses resulting from the inability of certain tenants to meet the contractual obligations under their leases. Our determination of the adequacy of these allowances is based primarily upon evaluations of historical loss experience, the tenant’s financial condition, security deposits, letters of credit, lease guarantees and current economic conditions and other relevant factors. As of December 31, 2016 , 2015 and 2014 , we had $2.0 million , $2.2 million and $2.0 million , respectively, in allowances for uncollectible accounts. During the years ended December 31, 2016 , 2015 and 2014 , we recorded bad debt expense of $0.8 million , $0.8 million and $0.3 million , respectively. Investments in Real Estate A property acquired that is not subject to an existing lease is treated as an asset acquisition and recorded at its purchase price, inclusive of acquisition costs, allocated between the acquired tangible assets and assumed liabilities based upon their relative fair values at the date of acquisition. A property acquired with an existing lease is accounted for as a business combination and assets acquired and liabilities assumed, including identified intangible assets and liabilities, are recorded at fair value. With the assistance of independent valuation specialists, we record the purchase price of completed business combinations associated with tangible and intangible assets and liabilities based on their fair values. The tangible assets (land and building and improvements) are determined based upon the value of the property as if it were to be replaced or as if it were vacant using discounted cash flow models similar to those used by market participants. Factors considered by us include an estimate of carrying costs during the expected lease-up periods considering current market conditions and costs to execute similar leases. Additionally, the purchase price of the applicable completed acquisition property is inclusive of above or below market leases, above or below market leasehold interests, in place leases, tenant relationships, above or below market debt assumed, interest rate swaps assumed and any contingent consideration. The value of above or below market leases is determined based upon the present value (using a discount rate which reflects the risks associated with the acquired leases) of the difference between (i) the contractual amounts to be received pursuant to the lease over its remaining term and (ii) our estimate of the amounts that would be received using fair market rates over the remaining term of the lease including any bargain renewal periods. The amounts associated with above market leases are included in other intangibles, net in our accompanying consolidated balance sheets and amortized to rental income over the remaining lease term. The amounts allocated to below market leases are included in intangible liabilities, net in our accompanying consolidated balance sheets and amortized to rental income over the remaining lease term. The value associated with above or below market leasehold interests is determined based upon the present value (using a discount rate which reflects the risks associated with the acquired leases) of the difference between: (i) the contractual amounts to be paid pursuant to the lease over its remaining term; and (ii) our estimate of the amounts that would be paid using fair market rates over the remaining term of the lease including any bargain renewal periods. The amounts recorded for above market leasehold interests are included in intangible liabilities, net in our accompanying consolidated balance sheets and amortized to rental expense over the remaining lease term. The amounts allocated to below market leasehold interests are included in other intangibles, net in our accompanying consolidated balance sheets and amortized to rental expense over the remaining lease term. The total amount of other intangible assets includes in place leases and tenant relationships based on our evaluation of the specific characteristics of each tenant’s lease and our overall relationship with that respective tenant. Characteristics considered by us in allocating these values include the nature and extent of the credit quality and expectations of lease renewals, among other factors. The amounts recorded for in place leases and tenant relationships are included in lease intangibles in our accompanying consolidated balance sheets and will be amortized to amortization expense over the remaining lease term. The value recorded for above or below market debt is determined based upon the present value of the difference between the cash flow stream of the assumed mortgage and the cash flow stream of a market rate mortgage. The amounts recorded for above or below market debt are included in debt in our accompanying consolidated balance sheets and are amortized to interest expense over the remaining term of the assumed debt. The value recorded for interest rate swaps is based upon a discounted cash flow analysis on the expected cash flows, taking into account interest rate curves and the remaining term. See derivative financial instruments below for further discussion. We record contingent consideration at fair value as of the acquisition date and reassess the fair value as of the end of each reporting period, with any changes being recognized in earnings. The cost of operating properties includes the cost of land and buildings and related improvements. Expenditures that increase the service life of properties are capitalized and the cost of maintenance and repairs is charged to expense as incurred. The cost of buildings is depreciated on a straight-line basis over the estimated useful lives of the buildings up to 39 years and for tenant improvements, the shorter of the lease term or useful life, ranging from one month to 193 months. Furniture, fixtures and equipment is depreciated over five years. Depreciation expense of buildings and improvements for the years ended December 31, 2016 , 2015 and 2014 , was $118.7 million , $101.2 million , and $87.9 million , respectively. Real Estate Held for Sale We consider properties as held for sale once management commits to a plan to sell the property and has determined that the sale is probable and expected to occur within one year . Upon classification as held for sale, we record the property at the lower of its carrying amount or fair value, less costs to sell, and cease depreciation and amortization. The fair value is generally based on discounted cash flow analyses, which involve management’s best estimate of market participants’ holding period, market comparables, future occupancy levels, rental rates, capitalization rates, lease-up periods and capital requirements. We did no t classify any assets as held for sale for the years ended December 31, 2016 , 2015 and 2014 . Recoverability of Real Estate Investments Real estate investments are evaluated for potential impairment whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. Impairment losses are recorded when indicators of impairment are present and the carrying amount of the asset is greater than the sum of future undiscounted cash flows expected to be generated by that asset over the remaining expected holding period. We would recognize an impairment loss when the carrying amount is not recoverable to the extent the carrying amount exceeds the fair value of the property. The fair value is generally based on discounted cash flow analyses. In performing the analysis we consider executed sales agreements or management’s best estimate of market comparables, future occupancy levels, rental rates, capitalization rates, lease-up periods and capital requirements. For the years ended December 31, 2016 and 2015 , we recorded impairment charges of $3.1 million and $2.6 million , respectively. We did not record any impairment charges for the year ended December 31, 2014 . Real Estate Notes Receivable We evaluate the carrying values of real estate notes receivable on an individual basis. Management periodically evaluates the realizability of future cash flows from real estate notes receivable when events or circumstances, such as the non-receipt of principal and interest payments and/or significant deterioration of the financial condition of the borrower, indicate that the carrying amount of the real estate notes receivable may not be recoverable. An impairment loss is recognized in current period earnings and is calculated as the difference between the carrying amount of the real estate notes receivable and the discounted cash flows expected to be received, or if foreclosure is probable, the fair value of the collateral securing the real estate notes receivable. For the years ended December 31, 2016 , 2015 and 2014 , there were no impairment losses. Derivative Financial Instruments We are exposed to the effect of interest rate changes in the normal course of business. We seek to mitigate these risks by following established risk management policies and procedures which include the occasional use of derivatives. Our primary strategy in entering into derivative contracts is to add stability to interest expense and to manage our exposure to interest rate movements. We utilize derivative instruments, including interest rate swaps, to effectively convert a portion of our variable rate debt to fixed rate debt. We do not enter into derivative instruments for speculative purposes. Derivatives are recognized as either assets or liabilities in our accompanying consolidated balance sheets and are measured at fair value. Since our derivative instruments are not designated as hedge instruments, they do not qualify for hedge accounting, and accordingly, changes in fair value are included as a component of interest expense in our accompanying consolidated statements of operations. The valuation of these instruments is determined with the assistance of an independent valuation specialist using a proprietary model that utilizes widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each derivative and observable inputs. The proprietary model reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves, foreign exchange rates and implied volatilities. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. We incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of our derivative contracts for the effect of nonperformance risk, we have considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts and guarantees. Fair Value Measurements Fair value is a market-based measurement and is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Depending on the nature of the asset or liability, various techniques and assumptions can be used to estimate the fair value. Financial assets and liabilities are measured using inputs from three levels of the fair value hierarchy, as follows: Level 1 — Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that we have the ability to access at the measurement date. An active market is defined as a market in which transactions for the assets or liabilities occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 — Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active (markets with few transactions), inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.) and inputs that are derived principally from or corroborated by observable market data correlation or other means (market corroborated inputs). Level 3 — Unobservable inputs, only used to the extent that observable inputs are not available, reflect our assumptions about the pricing of an asset or liability. We use fair value measurements to record fair value of certain assets and to estimate fair value of financial instruments not recorded at fair value but required to be disclosed at fair value. Receivables and Other Assets Deferred financing costs include amounts paid to lenders and others to obtain financing and are amortized to interest expense on a straight-line basis over the term of the unsecured revolving credit facility which approximates the effective interest method. Deferred leasing costs are amounts incurred in executing a lease, both for external broker and marketing costs, plus a portion of internal leasing related costs. Deferred leasing costs are amortized on a straight-line basis method over the term of the applicable lease. Deferred leasing costs are included in operating activities in our accompanying consolidated statements of cash flows. Share-Based Compensation We calculate the fair value of share-based awards on the date of grant. Restricted common stock is valued based on the closing price of our common stock on the NYSE. We amortize the share-based compensation expense over the period that the awards are expected to vest, net of estimated forfeitures. See Note 10 - Stockholders’ Equity and Partners’ Capital for further discussion. Noncontrolling Interests HTA’s net income attributable to noncontrolling interests in the accompanying consolidated statements of operations relate to both noncontrolling interest reflected within equity and redeemable noncontrolling interests reflected outside of equity in the accompanying consolidated balance sheets. OP Units, including LTIP awards, are accounted for as partners’ capital in HTALP’s accompanying consolidated balance sheets and as noncontrolling interest reflected within equity in HTA’s accompanying consolidated balance sheets. Redeemable noncontrolling interests relate to the interests in our consolidated entities that are not wholly owned by us. As these redeemable noncontrolling interests provide for redemption features not solely within our control, we classify such interests outside of permanent equity or partners’ capital. Accordingly, we record the carrying amount at the greater of the initial carrying amount (increased or decreased for the noncontrolling interest’s share of net income or loss and distributions) or the redemption value. Income Taxes HTA believes that it has qualified to be taxed as a REIT under the provisions of the Code, beginning with the taxable year ending December 31, 2007 and it intends to continue to qualify to be taxed as a REIT. To continue to qualify as a REIT for federal income tax purposes, HTA must meet certain organizational and operational requirements, including a requirement to pay dividend distributions to its stockholders of at least 90% of its annual taxable income. As a REIT, HTA is generally not subject to federal income tax on net income that it distributes to its stockholders, but it may be subject to certain state or local taxes on its income and property. If HTA fails to qualify as a REIT in any taxable year, it will then be subject to U.S. federal income taxes on our taxable income and will not be permitted to qualify for treatment as a REIT for U.S. federal income tax purposes for four years following the year during which qualification is lost unless the IRS grants it relief under certain statutory provisions. Such an event could have a material adverse effect on its business, financial condition, results of operations and net cash available for dividend distributions to its stockholders. As discussed in Note 1 - Organization and Description of Business , HTA conducts substantially all of its operations through HTALP. As a partnership, HTALP generally is not liable for federal income taxes. The income and loss from the operations of HTALP is included in the tax returns of its partners, including HTA, 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. We do not have any liability for uncertain tax positions that we believe should be recognized in our accompanying consolidated financial statements. The tax basis exceeded the carrying amount of the net real estate assets reported in our accompanying consolidated balance sheet by approximately $365.1 million as of December 31, 2016 . Concentration of Credit Risk We maintain the majority of our cash and cash equivalents at major financial institutions in the U.S. and deposits with these financial institutions may exceed the amount of insurance provided on such deposits; however, we regularly monitor the financial stability of these financial institutions and believe we are not currently exposed to any significant default risk with respect to these deposits. As of December 31, 2016 , we had cash balances of $15.3 million in excess of Federal Deposit Insurance Corporation insured limits. Segment Disclosure We have determined that we have one reportable segment, with activities related to investing in healthcare real estate assets. Our investments in healthcare real estate assets are geographically diversified and our chief operating decision maker evaluates operating performance on an individual asset level. As each of our assets has similar economic characteristics, long-term financial performance, tenants, and products and services, our assets have been aggregated into one reportable segment. Recently Issued or Adopted Accounting Pronouncements The following table provides a brief description of recently issued accounting pronouncements: Accounting Pronouncement Description Effective Date Effect on financial statements ASU 2014-09 Revenue from Contracts with Customers (Issued May 2014) ASU 2014-09 is a comprehensive new revenue recognition model requiring a company to recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the consideration (i.e., payment) to which the company expects to be entitled in exchange for those goods or services. In adopting ASU 2014-09, companies may use either a full retrospective or a modified retrospective approach. In July 2015, the FASB deferred the effective date of ASU 2014-09 to the first interim period within annual reporting periods beginning after December 15, 2017 along with the ability to early adopt as of the original effective date. We have identified our revenue streams and are in the process of evaluating the impact on our consolidated financial statements and internal accounting processes; however, as the majority of our revenues are derived from real estate lease contracts, as discussed in relation to ASU 2016-02 below. We will adopt ASU 2014-09 effective January 1, 2018 using the retrospective approach and the adoption will not have a material impact on our consolidated financial statements. Accounting Pronouncement Description Effective Date Effect on financial statements ASU 2016-02 Leases (Issued February 2016) ASU 2016-02 will supersede the existing guidance for lease accounting and states that companies will be required to recognize lease assets and lease liabilities on the balance sheet and disclose key information about leasing arrangements. ASU 2016-02 requires qualitative and quantitative disclosures to supplement the amounts recorded in the financial statements so that users can understand the nature of the entity’s leasing activities, including significant judgments and changes in judgments. Within ASU 2016-02 lessor accounting remained fairly unchanged. In adopting ASU 2016-02, companies will be required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. ASU 2016-02 is effective for the fiscal years beginning after December 15, 2018 with early adoption permitted. We will adopt ASU 2016-02 as of January 1, 2019 using the modified retrospective approach. We are currently evaluating the full impact ASU 2016-02 will have on our consolidated financial statements and disclosures, however, we anticipate there to be a significant increase in our assets and liabilities on our consolidated balance sheets due to the recognition of our current ground leases which represented rental expense of $7.6 million and have an average remaining term of 48.2 years for the year ended December 31, 2016. In addition, we anticipate there to be a material impact on our consolidated balance sheets and statements of operations as certain leasing costs will no longer qualify for capitalization over the life of the lease but instead be required to be expensed as incurred. ASU 2016-13 Financial Instruments Credit Losses: Measurement of Credit Losses on Financial Instruments (Issued June 2016) ASU 2016-13 is intended to improve financial reporting by requiring timelier recognition of credit losses on loans and other financial instruments that are not accounted for at fair value through net income, including loans held for investment, held-to-maturity debt securities, trade and other receivables, net investment in leases and other such commitments. ASU 2016-13 requires that financial statement assets measured at an amortized cost be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019 with early adoption permitted. We do not anticipate early adoption, however, we are evaluating the impact of adopting ASU 2016-13 on our consolidated financial statements. ASU 2016-15 Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments (Issued August 2016) ASU 2016-15 includes multiple provisions intended to clarify various aspects of cash flow presentation by making eight targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017 with early adoption permitted. We will adopt ASU 2016-15 as of the year en ded December 31, 2017. We do not anticipate there to be a material impact, however, we are still evaluating the impact ASU 2016-15 will have on our consolidated financial statements. ASU 2016-18 Statement of Cash Flows: Restricted Cash (Issued November 2016) ASU 2016-18 requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU 2016-18 is effective for fiscal years beginning after December 15, 2017 with early adoption permitted. We will adopt ASU 2016-18 as of the year ended December 31, 2017. We do not anticipate there to be a material impact, however, we are still evaluating the impact ASU 2016-18 will have on our consolidated financial statements. ASU 2017-01 Business Combinations: Clarifying the Definition of a Business (Issued January 2017) ASU 2017-01 clarifies the definition of a business by adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including, but not limited to, acquisitions, disposals, goodwill and consolidation. ASU 2017-01 is effective for fiscal years beginning after December 15, 2017 with early adoption permitted. We anticipate early adoption, however, we are currently evaluating the full impact ASU 2017-01 will have on our consolidated financial statements and disclosures. We anticipate a vast majority of our acquisitions and dispositions to result in asset acquisitions and dispositions rather than business combinations and a significant portion of our acquisition-related expenses to be capitalized. The following table provides a brief description of recently adopted accounting pronouncements: Accounting Pronouncement Description Effective Date Effect on financial statements ASU 2015-02 Amendments to the Consolidation Analysis (Issued February 2015) ASU 2015-02 affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. The amendments in ASU 2015-02 affect the following areas: (i) limited partnerships and similar legal entities; (ii) evaluating fees paid to a decision maker or a service provider as a variable interest; (iii) the effect of fee arrangements on the primary beneficiary determination; (iv) the effect of related parties on the primary beneficiary determination; and (v) certain investment funds. ASU 2015-02 is effective for fiscal years beginning after December 15, 2015 with early adoption permitted. We adopted ASU 2015-02 as of January 1, 2016. The adoption had no material impact on our interests in joint venture arrangements. Accordingly, there was no material impact on previous or current reporting periods’ consolidated financial statements. ASU 2015-16 Business Combinations - Simplifying the Accounting for Measurement-Period Adjustment (Issued September 2015) ASU 2015-16 eliminates the requirement that an acquirer in a business com |
Investments in Real Estate
Investments in Real Estate | 12 Months Ended |
Dec. 31, 2016 | |
Investments [Abstract] | |
Investments in Real Estate | Investments in Real Estate For the year ended December 31, 2016 , our investments had an aggregate purchase price of $700.8 million . We incurred $2.9 million of costs attributable to these investments, which were recorded in acquisition-related expenses in the accompanying consolidated statements of operations. As part of the acquisitions, we assumed mortgage loans with an aggregate fair value of $27.5 million and issued 2,650,409 OP Units with a market value at the time of issuance of $71.8 million . The following investments were determined to be individually not significant, but significant on a collective basis. The purchase price allocation for each of our investments are preliminary and subject to change until allocations are finalized, which will be no later than 12 months from the date of acquisition. The preliminary allocations for these investments are set forth below in the aggregate for the years ended December 31, 2016 , 2015 and 2014 (in thousands): Year Ended December 31, 2016 2015 2014 Land $ 85,017 $ 19,828 $ 85,442 Building and improvements 559,930 246,911 325,290 In place leases 56,807 24,646 31,437 Below market leases (13,792 ) (8,360 ) (2,218 ) Above market leases 4,626 1,336 2,325 Below market leasehold interests 4,189 2,698 1,625 Above market leasehold interests (50 ) (7,725 ) — Above market debt, net (83 ) — (3,766 ) Interest rate swaps (779 ) — — Net assets acquired 695,865 279,334 440,135 Other, net 4,899 1,526 (605 ) Aggregate purchase price $ 700,764 $ 280,860 $ 439,530 The acquired intangible assets and liabilities referenced above had weighted average lives of the following for the years ended December 31, 2016 , 2015 and 2014 (in years): Year Ended December 31, 2016 2015 2014 Acquired intangible assets 8.4 24.8 10.8 Acquired intangible liabilities 7.7 51.7 8.3 Subsequent to December 31, 2016 , we completed an investment with a purchase price of $13.6 million . The purchase price of this MOB was subject to certain post-closing adjustments. Due to the recent timing of the acquisition of this investment, we have not completed our initial purchase price allocation with respect to this investment and, therefore, cannot provide disclosures at this time similar to those contained in Note 3 - Investments in Real Estate to our consolidated financial statements. We recognized the following revenues and net income for the years ended December 31, 2016 , 2015 and 2014 related to investments in 2016 , 2015 and 2014 , respectively (in thousands): Year Ended December 31, 2016 2015 2014 Revenues $ 44,458 $ 17,746 $ 15,528 Net income 6,592 5,190 3,161 Supplementary Pro Forma Information of HTA The following unaudited pro forma consolidated results of operations of HTA for the years ended December 31, 2016 and 2015 , assumes that all 2016 investments occurred on January 1, 2015 and excludes $2.9 million of acquisition-related expenses (in thousands, except per share data): Year Ended December 31, 2016 2015 Revenues $ 488,159 $ 475,480 Net income attributable to common stockholders 53,713 42,439 Net income attributable to common stockholders per share - basic $ 0.38 $ 0.30 Net income attributable to common stockholders per share - diluted 0.37 0.29 The following unaudited pro forma consolidated results of operations of HTA for the years ended December 31, 2015 and 2014 , assumes that all 2015 investments occurred on January 1, 2014 and excludes $1.4 million of acquisition-related expenses (in thousands, except per share data): Year Ended December 31, 2015 2014 Revenues $ 418,499 $ 403,670 Net income attributable to common stockholders 36,275 50,973 Net income attributable to common stockholders per share - basic $ 0.29 $ 0.42 Net income attributable to common stockholders per share - diluted 0.28 0.42 The following unaudited pro forma consolidated results of operations of HTA for the year ended December 31, 2014 assumes that all 2014 investments occurred on January 1, 2013 and excludes $6.3 million of acquisition-related expenses (in thousands, except per share data): Year Ended December 31, 2014 Revenues $ 399,500 Net income attributable to common stockholders 56,290 Net income attributable to common stockholders per unit - basic $ 0.45 Net income attributable to common stockholders per unit - diluted 0.44 The pro forma results are not necessarily indicative of the operating results that would have been obtained had the investments occurred at the beginning of the periods presented, nor are they necessarily indicative of future operating results. Supplementary Pro Forma Information of HTALP The following unaudited pro forma consolidated results of operations of HTALP for the years ended December 31, 2016 and 2015 , assumes that all 2016 investments occurred on January 1, 2015 and excludes $2.9 million of acquisition-related expenses (in thousands, except per unit data): Year Ended December 31, 2016 2015 Revenues $ 488,159 $ 475,480 Net income attributable to common unitholders 55,028 42,954 Net income attributable to common unitholders per unit - basic $ 0.38 $ 0.29 Net income attributable to common unitholders per unit - diluted 0.38 0.29 The following unaudited pro forma consolidated results of operations of HTALP for the years ended December 31, 2015 and 2014 , assumes that all 2015 investments occurred on January 1, 2014 and excludes $1.4 million of acquisition-related expenses (in thousands, except per unit data): Year Ended December 31, 2015 2014 Revenues $ 418,499 $ 403,670 Net income attributable to common unitholders 36,790 51,464 Net income attributable to common unitholders per unit - basic $ 0.29 $ 0.42 Net income attributable to common unitholders per unit - diluted 0.29 0.42 The following unaudited pro forma consolidated results of operations of HTALP for the year ended December 31, 2014 assumes that all 2014 investments occurred on January 1, 2013 and excludes $6.3 million of acquisition-related expenses (in thousands, except per unit data): Year Ended December 31, 2014 Revenues $ 399,500 Net income attributable to common unitholders 56,780 Net income attributable to common unitholders per unit - basic $ 0.45 Net income attributable to common unitholders per unit - diluted 0.45 The pro forma results are not necessarily indicative of the operating results that would have been obtained had the investments occurred at the beginning of the periods presented, nor are they necessarily indicative of future operating results. |
Impairment and Dispositions
Impairment and Dispositions | 12 Months Ended |
Dec. 31, 2016 | |
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract] | |
Impairment and Dispositions | Impairment and Dispositions During the year ended December 31, 2016 , we completed dispositions of six senior care facilities for an aggregate gross sales price of $39.5 million , generating net gains of $9.0 million . During the same period, we entered into promissory notes of $12.7 million , for which we are the beneficiary, as part of certain dispositions and we additionally recorded impairment charges of $3.1 million related to two MOBs in our portfolio. During the year ended December 31, 2015 , we completed dispositions of six MOBs for an aggregate gross sales price of $35.7 million , generating net gains of $0.2 million . During the same period, we recorded impairment charges of $2.6 million , which included $1.7 million related to a MOB we disposed of during 2015 and $0.9 million that related to another MOB in our portfolio. During the year ended December 31, 2014 , we completed three dispositions of portfolios of MOBs for an aggregate gross sales price of $82.9 million , generating net gains of $27.9 million . These dispositions consisted of non-core buildings or buildings located outside our key markets. |
Intangible Assets and Liabiliti
Intangible Assets and Liabilities | 12 Months Ended |
Dec. 31, 2016 | |
Identified Intangibles, Net [Abstract] | |
Intangible Assets and Liabilities | Intangible Assets and Liabilities Intangible assets and liabilities consisted of the following as of December 31, 2016 and 2015 (in thousands, except weighted average remaining amortization): December 31, 2016 December 31, 2015 Balance Weighted Average Remaining Amortization in Years Balance Weighted Average Remaining Amortization in Years Assets: In place leases $ 294,597 9.7 $ 249,824 11.0 Tenant relationships 172,974 10.6 180,925 10.4 Above market leases 28,401 6.3 24,974 6.0 Below market leasehold interests 38,136 60.4 34,606 63.0 534,108 490,329 Accumulated amortization (256,305 ) (219,334 ) Total $ 277,803 16.1 $ 270,995 16.6 Liabilities: Below market leases $ 34,370 18.6 $ 22,240 27.2 Above market leasehold interests 11,632 53.0 11,582 53.7 46,002 33,822 Accumulated amortization (8,946 ) (7,211 ) Total $ 37,056 28.5 $ 26,611 38.0 The following is a summary of the net intangible amortization for the years ended December 31, 2016 , 2015 and 2014 (in thousands): Year Ended December 31, 2016 2015 2014 Amortization recorded against rental income related to above or (below) market leases $ 255 $ 1,936 $ 2,096 Rental expense related to above or (below) market leasehold interests 453 414 457 Amortization expense related to in place leases and tenant relationships 52,213 47,444 48,465 As of December 31, 2016 , the amortization of intangible assets and liabilities is as follows (in thousands): Year Assets Liabilities 2017 $ 48,338 $ 3,456 2018 41,081 3,333 2019 34,608 3,120 2020 26,321 2,721 2021 21,853 2,462 Thereafter 105,602 21,964 Total $ 277,803 $ 37,056 |
Receivables and Other Assets
Receivables and Other Assets | 12 Months Ended |
Dec. 31, 2016 | |
Receivables and Other Assets [Abstract] | |
Receivables and Other Assets | Receivables and Other Assets Receivables and other assets consisted of the following as of December 31, 2016 and 2015 (in thousands): December 31, 2016 2015 Tenant receivables, net $ 8,722 $ 5,820 Other receivables, net 9,233 11,882 Deferred financing costs, net 4,198 5,524 Deferred leasing costs, net 20,811 17,923 Straight-line rent receivables, net 74,052 65,543 Prepaid expenses, deposits, equipment and other, net 55,904 34,584 Derivative financial instruments - interest rate swaps 541 427 Total $ 173,461 $ 141,703 The following is a summary of the amortization of deferred leasing costs and financing costs for the years ended December 31, 2016 , 2015 and 2014 (in thousands): Year Ended December 31, 2016 2015 2014 Amortization expense related to deferred leasing costs $ 4,647 $ 4,177 $ 3,319 Interest expense related to deferred financing costs (1) 1,326 1,339 1,810 (1) For the year ended December 31, 2014, amounts have been adjusted to reflect the retrospective presentation of the adoption of ASU 2015-03 and 2015-15 as of December 31, 2015. As of December 31, 2016 , the amortization of deferred leasing costs and financing costs is as follows (in thousands): Year Amount 2017 $ 5,678 2018 4,950 2019 4,325 2020 2,629 2021 1,943 Thereafter 5,484 Total $ 25,009 |
Debt
Debt | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Debt | Debt Debt consisted of the following as of December 31, 2016 and 2015 (in thousands): December 31, 2016 2015 Unsecured revolving credit facility $ 88,000 $ 218,000 Unsecured term loans 500,000 455,000 Unsecured senior notes 950,000 600,000 Fixed rate mortgages loans 204,562 298,030 Variable rate mortgages loans 38,904 28,988 1,781,466 1,600,018 Deferred financing costs, net (9,527 ) (8,411 ) Discounts, net (3,034 ) (911 ) Total $ 1,768,905 $ 1,590,696 Unsecured Credit Agreement Unsecured Revolving Credit Facility In 2015 , we entered into an Unsecured Credit Agreement which provides for a $850.0 million unsecured revolving credit facility. The actual amount of credit available to us is a function of certain loan-to-value and debt service coverage ratios set forth in the unsecured revolving credit facility. The maximum principal amount of the unsecured revolving credit facility may be increased, subject to additional financing being provided by our existing lenders or new lenders being added to the unsecured revolving credit facility. The unsecured revolving credit facility matures on January 31, 2020 and is guaranteed by HTA. Borrowings under the unsecured revolving credit facility accrue interest at a rate equal to adjusted LIBOR , plus a margin ranging from 0.88% to 1.55% per annum based on our credit rating. We also pay a facility fee ranging from 0.13% to 0.30% per annum on the aggregate commitments under the unsecured revolving credit facility. As of December 31, 2016 , the margin associated with our borrowings was 1.05% per annum and the facility fee was 0.20% per annum. Unsecured Term Loan As of December 31, 2016 , we had a $300.0 million unsecured term loan outstanding that was guaranteed by HTA. Borrowings accrue interest equal to adjusted LIBOR , plus a margin ranging from 0.90% to 1.80% per annum based on our credit rating. The margin associated with our borrowings as of December 31, 2016 was 1.15% per annum. Including the impact of the interest rate swaps associated with our unsecured term loan, the interest rate was 1.90% per annum, based on our current credit rating. The unsecured term loan matures on January 31, 2019 , and includes a one -year extension exercisable at the option of the borrower, subject to certain conditions. $200.0 Million Unsecured Term Loan On September 26, 2016 , HTALP executed a $200.0 million unsecured term loan due on September 26, 2023. Proceeds were used to refinance our $155.0 million unsecured term due on July 19, 2019 and to pay down existing mortgage loans. Borrowings under the unsecured term loan accrue interest at a rate equal to LIBOR, plus a margin ranging from 1.50% to 2.45% per annum based on our credit rating. The margin associated with our borrowings as of December 31, 2016 was 1.65% per annum. HTALP had interest rate swaps in place that fix the interest rate at 2.82% per annum, based on our current credit rating. As of December 31, 2016 , HTALP had $200.0 million outstanding on its unsecured term loan. $300.0 Million Unsecured Senior Notes due 2021 As of December 31, 2016 , HTALP had $300.0 million of unsecured senior notes outstanding that are guaranteed by HTA and that mature on July 15, 2021 . The unsecured senior notes are registered under the Securities Act of 1933, as amended (the “Securities Act”), bear interest at 3.38% per annum and are payable semi-annually. The unsecured senior notes were offered at 99.21% of the principal amount thereof, with an effective yield to maturity of 3.50% per annum. $300.0 Million Unsecured Senior Notes due 2023 As of December 31, 2016 , HTALP had $300.0 million of unsecured senior notes outstanding that are guaranteed by HTA and that mature on April 15, 2023 . The unsecured senior notes are registered under the Securities Act, bear interest at 3.70% per annum and are payable semi-annually. The unsecured senior notes were offered at 99.19% of the principal amount thereof, with an effective yield to maturity of 3.80% per annum. $350.0 Million Unsecured Senior Notes due 2026 On July 12, 2016 , HTALP executed $350.0 million of unsecured senior notes that are guaranteed by HTA. The unsecured senior notes are registered under the Securities Act, bear interest at 3.50% per annum and are payable semi-annually. The unsecured senior notes were offered at 99.72% of the principal amount thereof, with an effective yield to maturity of 3.53% per annum. As of December 31, 2016 , HTALP had $350.0 million of unsecured senior notes outstanding that mature on August 1, 2026 . Fixed and Variable Rate Mortgages As of December 31, 2016 , HTALP and its subsidiaries had fixed and variable rate mortgages loans with interest rates ranging from 2.20% to 6.39% per annum and a weighted average interest rate of 5.07% per annum. Including the impact of the interest rate swap associated with our variable rate mortgage, the weighted average interest rate was 5.44% per annum. Future Debt Maturities The following table summarizes the debt maturities and scheduled principal repayments of our indebtedness as of December 31, 2016 (in thousands): Year Amount 2017 $ 76,582 2018 4,722 2019 310,839 2020 137,795 2021 303,842 Thereafter 947,686 Total $ 1,781,466 The above scheduled debt maturities do not include the extension available to us under the Unsecured Credit Agreement as discussed above. Deferred Financing Costs As of December 31, 2016 , the amortization of deferred financing costs is as follows (in thousands): Year Amount 2017 $ 1,847 2018 1,775 2019 1,780 2020 1,338 2021 1,060 Thereafter 1,727 Total $ 9,527 We are required by the terms of our applicable debt agreements to meet various affirmative and negative covenants that we believe are customary for these types of facilities, such as limitations on the incurrence of debt by us and our subsidiaries that own unencumbered assets, limitations on the nature of HTALP ’s business, and limitations on distributions by HTALP and its subsidiaries that own unencumbered assets. Our debt agreements also impose various financial covenants on us, such as a maximum ratio of total indebtedness to total asset value, a minimum ratio of EBITDA to fixed charges, a minimum tangible net worth covenant, a maximum ratio of unsecured indebtedness to unencumbered asset value, rent coverage ratios and a minimum ratio of unencumbered net operating income to unsecured interest expense. As of December 31, 2016 , we believe that we were in compliance with all such financial covenants and reporting requirements. In addition, certain of our debt agreements include events of default provisions that we believe are customary for these types of facilities, including restricting HTA from making dividend distributions to its stockholders in the event HTA is in default thereunder, except to the extent necessary for HTA to maintain its REIT status. |
Derivative Financial Instrument
Derivative Financial Instruments | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | Derivative Financial Instruments The following table lists the derivative financial instrument assets and (liabilities) held by us as of December 31, 2016 (in thousands): Notional Amount Index Rate Fair Value Instrument Maturity $ 50,000 LIBOR 1.39 % $ 33 Swap 7/17/2019 105,000 LIBOR 1.24 486 Swap 7/17/2019 25,272 LIBOR + 1.45% 4.98 (1,551 ) Swap 5/1/2020 6,083 LIBOR + 2.25% 4.04 22 Swap 1/1/2023 4,356 LIBOR + 0.49% 3.52 (369 ) Swap 12/1/2023 The following table lists the derivative financial instrument assets and (liabilities) held by us as of December 31, 2015 (in thousands): Notional Amount Index Rate Fair Value Instrument Maturity $ 100,000 LIBOR 0.86 % $ (142 ) Swap 6/15/2016 50,000 LIBOR 1.39 (71 ) Swap 7/17/2019 105,000 LIBOR 1.24 427 Swap 7/17/2019 26,092 LIBOR + 1.45% 4.98 (2,157 ) Swap 5/1/2020 As of December 31, 2016 and 2015 , the gross fair value of our derivative financial instruments was as follows (in thousands): Asset Derivatives Liability Derivatives Fair Value Fair Value Derivatives Not Designated as Hedging Instruments: Balance Sheet Location December 31, 2016 December 31, 2015 Balance Sheet Location December 31, 2016 December 31, 2015 Interest rate swaps Receivables and other assets $ 541 $ 427 Derivative financial instruments $ 1,920 $ 2,370 There were no derivatives offset in our accompanying consolidated balance sheets as of December 31, 2016 and 2015 . As of December 31, 2016 and 2015 , we had derivatives subject to enforceable master netting arrangements which allowed for net cash settlement with the respective counterparties (in thousands): December 31, 2016 December 31, 2015 Gross Amounts Amounts Subject to Enforceable Master Netting Arrangements Net Amounts Gross Amounts Amounts Subject to Enforceable Master Netting Arrangements Net Amounts Asset derivatives $ 541 $ — $ 541 $ 427 $ (427 ) $ — Liability derivatives 1,920 — 1,920 2,370 (427 ) 1,943 We have agreements with each of our interest rate swap derivative counterparties which provide that if we default on certain of our unsecured indebtedness, our counterparties could declare us in default on our interest rate swap derivative obligations resulting in an acceleration of the indebtedness. In addition, we are exposed to credit risk in the event of non-performance by our derivative counterparties. We believe we mitigate the credit risk by entering into agreements with credit-worthy counterparties. We record counterparty credit risk valuation adjustments on interest rate swap derivative assets in order to properly reflect the credit quality of the counterparty. In addition, our fair value of interest rate swap derivative liabilities is adjusted to reflect the impact of our credit quality. As of December 31, 2016 , there have been no termination events or events of default related to our interest rate swaps. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Litigation We engage in litigation with various parties as a routine part of our business, including tenant pursuits. However, we are not presently subject to any material litigation nor, to our knowledge, is any material litigation threatened against us, which if determined unfavorably to us, would have a material effect on our consolidated financial position, results of operations or cash flows. Environmental Matters We follow the policy of monitoring our properties for the presence of hazardous or toxic substances. While there can be no assurance that a material environmental liability does not exist at our properties, we are not currently aware of any environmental liability with respect to our properties that would have a material effect on our consolidated financial position, results of operations or cash flows. Further, we are not aware of any material environmental liability or any unasserted claim or assessment with respect to an environmental liability at our properties that we believe would require additional disclosure or the recording of a loss contingency. Rental Expense We have ground leases and other operating leases with landlords that generally require fixed annual rental payments and may also include escalation clauses and renewal options. These leases have terms up to 99 years, excluding extension options. Future minimum lease obligations under non-cancelable ground leases and other operating leases as of December 31, 2016 are as follows (in thousands): Year Amount 2017 $ 6,709 2018 6,708 2019 6,793 2020 6,881 2021 8,027 Thereafter 532,275 Total $ 567,393 During the years ended December 31, 2016 , 2015 and 2014 , rental expense was $8.5 million , $6.9 million and $4.8 million , respectively. The amount of contingent rent and sublease rent was not significant. Other Our other commitments and contingencies include the usual obligations of real estate owners and operators in the normal course of business. In our opinion, these matters are not expected to have a material effect on our consolidated financial position, results of operations or cash flows. |
Stockholders' Equity and Partne
Stockholders' Equity and Partners' Capital | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Stockholders' Equity and Partners' Capital | Stockholders’ Equity and Partners’ Capital HTALP ’s partnership agreement provides that it will distribute cash flow from operations and net sale proceeds to its partners in accordance with their overall ownership interests at such times and in such amounts as the general partner determines. Dividend distributions are made such that a holder of one partnership unit in HTALP will receive distributions from HTALP in an amount equal to the dividend distributions paid to the holder of one share of HTA’s common stock. In addition, for each share of common stock issued or redeemed by HTA, HTALP issues or redeems a corresponding number of partnership units. During the year ended December 31, 2016 , HTA issued $492.5 million of equity at an average price of $29.33 per share. Common Stock Offerings In January 2016, HTA entered into a new equity distribution agreement with respect to its ATM offering program of common stock with an aggregate sales amount of up to $300.0 million . During the year ended December 31, 2016 , HTA issued and sold 4,418,571 shares of its common stock for $122.9 million at an average price of $27.82 per share, and as of December 31, 2016 , $177.1 million remained available for issuance under the ATM. During the year ended December 31, 2016 , HTA completed underwritten public offerings with a cumulative 9,720,000 shares of common stock for $297.8 million of gross proceeds at an average price of $30.64 per share. Common Unit Offerings During the year ended December 31, 2016 , HTA issued 2,650,409 partnership units in HTALP , respectively, for approximately $71.8 million in connection with acquisition transactions. In addition to the above offerings, HTA issued $2.7 million of partnership interests through a consolidated joint venture arrangement with one of our MOBs. Common Stock Dividends See our accompanying consolidated statements of equity for the dividends declared during 2016 , 2015 and 2014 . On February 15, 2017 , HTA declared a quarterly cash dividend of $0.30 per share to be paid on April 11, 2017 to stockholders of record for its common stock on April 3, 2017 . Incentive Plan The Plan permits the grant of incentive awards to our employees, officers, non-employee directors and consultants as selected by our Board of Directors. The Plan authorizes the granting of awards in any of the following forms: options; stock appreciation rights; restricted stock; restricted or deferred stock units; performance awards; dividend equivalents; other stock-based awards, including units in HTALP ; and cash-based awards. Subject to adjustment as provided in the Plan, the aggregate number of awards reserved and available for issuance under the Plan is 5,000,000 . As of December 31, 2016 , there were 1,923,310 awards available for grant under the Plan. LTIP Units Awards under the LTIP consist of Series C units in HTALP and were subject to the achievement of certain performance and market conditions in order to vest. Once vested, the Series C units were converted into common units of HTALP , which may be converted into shares o f HTA’s common stock. The fair value of the LTIP units for which the restrictions lapsed during 2014 was $0.3 million . There was no fair value of LTIP units for which the restrictions lapsed during 2016 and 2015 . We did no t record compensation expense related to LTIP awards for the years ended December 31, 2016 , 2015 and 2014 . LTIP awards were fully expensed in 2013, except for 225,000 units with a grant date fair value of $20.00 per unit that would only vest in the eve nt of a change in control prior to May 16, 2015. These units were forfeited in May 2015. Restricted Common Stock The weighted average fair value of restricted common stock granted during the years ended December 31, 2016 , 2015 and 2014 was $29.82 , $26.52 and $21.08 , respectively. The fair value of restricted common stock for which the restriction lapsed during the years ended December 31, 2016 , 2015 and 2014 were $5.4 million , $4.6 million and $0.9 million , respectively. We recognized compensation expense, equal to the fair market value of HTA’s stock on the grant date, over the service period which is generally three to four years. For the years ended December 31, 2016 , 2015 and 2014 , we recognized compensation expense of $7.1 million , $5.7 million and $4.4 million , respectively, which were recorded in general and administrative expenses in the accompanying consolidated statements of operations. As of December 31, 2016 , there was $8.5 million of unrecognized compensation expense, net of estimated forfeitures, which will be recognized over a remaining weighted average period of 1.8 years. The following is a summary of our restricted common stock activity during the years ended December 31, 2016 and 2015 : December 31, 2016 December 31, 2015 Restricted Common Stock Weighted Average Grant Date Fair Value Restricted Common Stock Weighted Average Grant Date Fair Value Beginning balance 487,850 $ 23.13 463,050 $ 20.90 Granted 417,110 29.82 229,281 26.52 Vested (237,999 ) 23.28 (176,730 ) 21.48 Forfeited (26,091 ) 26.09 (27,751 ) 23.03 Ending balance 640,870 $ 27.36 487,850 $ 23.13 |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | Fair Value of Financial Instruments Financial Instruments Reported at Fair Value - Recurring The table below presents our assets and liabilities measured at fair value on a recurring basis as of December 31, 2016 , aggregated by the applicable level in the fair value hierarchy (in thousands): Level 1 Level 2 Level 3 Total Assets: Derivative financial instruments $ — $ 541 $ — $ 541 Liabilities: Derivative financial instruments $ — $ 1,920 $ — $ 1,920 The table below presents our assets and liabilities measured at fair value on a recurring basis as of December 31, 2015 , aggregated by the applicable level in the fair value hierarchy (in thousands): Level 1 Level 2 Level 3 Total Assets: Derivative financial instruments $ — $ 427 $ — $ 427 Liabilities: Derivative financial instruments $ — $ 2,370 $ — $ 2,370 Financial Instruments Reported at Fair Value - Non-Recurring The table below presents our assets measured at fair value on a non-recurring basis as of December 31, 2016 , aggregated by the applicable level in the fair value hierarchy (in thousands): Level 1 Level 2 Level 3 Total Assets: MOBs (1) $ — $ 8,191 $ — $ 8,191 (1) During the year ended December 31, 2016, we recognized impairment charges of $1.3 million and $1.8 million to the carrying value of two MOBs. The estimated fair value as of December 31, 2016 for these MOBs was based upon a pending sales agreement and real estate market comparables, respectively. The table below presents our assets measured at fair value on a non-recurring basis as of December 31, 2015 , aggregated by the applicable level in the fair value hierarchy (in thousands): Level 1 Level 2 Level 3 Total Assets: MOB (1) $ — $ 547 $ — $ 547 (1) During the year ended December 31, 2015, we recognized a $0.9 million impairment charge to the carrying value of an MOB. The estimated fair value as of December 31, 2015 was based upon a pending sales agreement on this MOB. There have been no transfers of assets or liabilities between levels. We will record any such transfers at the end of the reporting period in which a change of event occurs that results in a transfer. Although we have determined that the majority of the inputs used to value our interest rate swap derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with these instruments utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by us and our counterparties. However, we have assessed the significance of the impact of the credit valuation adjustments on the overall valuation of our interest rate swap derivative positions and have determined that the credit valuation adjustments are not significant to their overall valuation. As a result, we have determined that our interest rate swap derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy. Financial Instruments Disclosed at Fair Value We consider the carrying values of cash and cash equivalents, tenant and other receivables, restricted cash and escrow deposits and accounts payable, and accrued liabilities, to approximate fair value for these financial instruments because of the short period of time between origination of the instruments and their expected realization. All of these financial instruments are considered Level 2. The fair value of debt is estimated using borrowing rates available to us with similar terms and maturities, which is considered a Level 2 input. As of December 31, 2016 , the fair value of the debt was $1,784.0 million compared to the carrying value of $1,768.9 million . As of December 31, 2015 , the fair value of the debt was $1,619.7 million compared to the carrying value of $1,590.7 million . |
Per Share Data of HTA
Per Share Data of HTA | 12 Months Ended |
Dec. 31, 2016 | |
HTA, Inc. | |
Earnings Per Share | |
Per Share Data of HTA | Per Share Data of HTA HTA includes unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents as “participating securities” pursuant to the two-class method. The resulting classes are our common stock and restricted stock. For the years ended December 31, 2016 , 2015 and 2014 , all of HTA’s earnings were distributed and the calculated earnings per share amount would be the same for all classes. The following is the reconciliation of the numerator and denominator used in basic and diluted earnings per share of HTA for the years ended December 31, 2016 , 2015 and 2014 (in thousands, except per share data): Year Ended December 31, 2016 2015 2014 Numerator: Net income $ 47,345 $ 33,557 $ 45,994 Net income attributable to noncontrolling interests (1,433 ) (626 ) (623 ) Net income attributable to common stockholders $ 45,912 $ 32,931 $ 45,371 Denominator: Weighted average shares outstanding - basic 136,620 126,074 119,904 Dilutive shares 3,639 1,930 1,264 Weighted average shares outstanding - diluted 140,259 128,004 121,168 Earnings per common share - basic Net income attributable to common stockholders $ 0.34 $ 0.26 $ 0.38 Earnings per common share - diluted Net income attributable to common stockholders $ 0.33 $ 0.26 $ 0.37 |
Per Unit Data of HTALP
Per Unit Data of HTALP | 12 Months Ended |
Dec. 31, 2016 | |
Healthcare Trust of America Holdings, LP (HTALP) | |
Earnings Per Share | |
Per Unit Data of HTALP | Per Unit Data of HTALP The following is the reconciliation of the numerator and denominator used in basic and diluted earnings per unit of HTALP for the years ended December 31, 2016 , 2015 and 2014 (in thousands, except per unit data): Year Ended December 31, 2016 2015 2014 Numerator: Net income $ 47,345 $ 33,557 $ 45,994 Net income attributable to noncontrolling interests (118 ) (112 ) (133 ) Net income attributable to common unitholders $ 47,227 $ 33,445 $ 45,861 Denominator: Weighted average units outstanding - basic 140,259 128,079 121,340 Dilutive units — — — Weighted average units outstanding - diluted 140,259 128,079 121,340 Earnings per common unit - basic: Net income attributable to common unitholders $ 0.34 $ 0.26 $ 0.38 Earnings per common unit - diluted: Net income attributable to common unitholders $ 0.34 $ 0.26 $ 0.38 |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information | 12 Months Ended |
Dec. 31, 2016 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Cash Flow Information | Supplemental Cash Flow Information The following is the supplemental cash flow information for the years ended December 31, 2016 , 2015 and 2014 (in thousands): Year Ended December 31, 2016 2015 2014 Interest paid $ 50,883 $ 52,688 $ 42,666 Income taxes paid 1,059 996 889 Supplemental Disclosure of Noncash Investing and Financing Activities: Accrued capital expenditures $ 5,092 $ 5,696 $ 3,853 Debt and interest rate swaps assumed in connection with acquisitions 28,163 — 103,980 Dividend distributions declared, but not paid 43,867 37,886 36,275 Issuance of operating partnership units in connection with acquisitions 71,754 — 16,960 Note receivable included in the consideration of an acquisition — — 11,924 Notes receivable included in the consideration of dispositions 12,737 — — Redeemable noncontrolling interest assumed in connection with an acquisition 4,773 — — Redemption of noncontrolling interest 5,709 — — |
Tax Treatment of Dividends of H
Tax Treatment of Dividends of HTA | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Tax Treatment of Dividends of HTA | Tax Treatment of Dividends of HTA The following is the income tax treatment of dividend distributions for the years ended December 31, 2016 , 2015 and 2014 (in per share): Year Ended December 31, 2016 2015 2014 Ordinary income $ 0.8970 $ 0.6634 $ 0.6850 Return of capital 0.2880 0.2116 0.4700 Capital gain 0.0000 0.0000 0.0000 Total $ 1.1850 $ 0.8750 $ 1.1550 |
Future Minimum Rent
Future Minimum Rent | 12 Months Ended |
Dec. 31, 2016 | |
Leases [Abstract] | |
Future Minimum Rent | Future Minimum Rent We have operating leases with tenants that expire at various dates through 2038 which generally include fixed increases or adjustments based on the consumer price index. Leases also provide for additional rents based on certain operating expenses. Future minimum rent contractually due under operating leases, excluding tenant reimbursements of certain costs, as of December 31, 2016 is as follows (in thousands): Year Amount 2017 $ 373,903 2018 331,499 2019 299,420 2020 260,783 2021 230,492 Thereafter 747,109 Total $ 2,243,206 A certain amount of our rental income is from tenants with leases which are subject to contingent rent provisions. These contingent rents are subject to the tenant achieving periodic revenues in excess of specified levels. For the years ended December 31, 2016 , 2015 and 2014 , the amount of contingent rent earned by us was not significant. |
Selected Quarterly Financial Da
Selected Quarterly Financial Data of HTA (Unaudited) | 12 Months Ended |
Dec. 31, 2016 | |
HTA, Inc. | |
Selected Quarterly Financial Data [Line Items] | |
Selected Quarterly Financial Data of HTA (Unaudited) | Selected Quarterly Financial Data of HTA (Unaudited) The following is the selected quarterly financial data of HTA for 2016 and 2015 . We believe that all necessary adjustments, consisting of only normal recurring adjustments, have been included (in thousands, except per share data). Quarter Ended (1) 2016 March 31 June 30 September 30 December 31 Revenues $ 107,315 $ 113,234 $ 118,340 $ 122,039 Net income 10,036 13,516 6,639 17,154 Net income attributable to common stockholders 9,860 13,074 6,427 16,551 Earnings per common share - basic: Net income attributable to common stockholders $ 0.08 $ 0.10 $ 0.05 $ 0.12 Earnings per common share - diluted: Net income attributable to common stockholders $ 0.08 $ 0.09 $ 0.04 $ 0.11 (1) The sum of the individual quarterly amounts may not agree to the annual amounts included in the accompanying consolidated statements of operations due to rounding. Quarter Ended (1) 2015 March 31 June 30 September 30 December 31 Revenues $ 98,520 $ 99,311 $ 103,942 $ 102,049 Net income 6,942 9,488 6,554 10,573 Net income attributable to common stockholders 6,804 9,292 6,463 10,372 Earnings per common share - basic: Net income attributable to common stockholders $ 0.05 $ 0.07 $ 0.05 $ 0.08 Earnings per common share - diluted: Net income attributable to common stockholders $ 0.05 $ 0.07 $ 0.05 $ 0.08 (1) The sum of the individual quarterly amounts may not agree to the annual amounts included in the accompanying consolidated statements of operations due to rounding. |
Selected Quarterly Financial 27
Selected Quarterly Financial Data of HTALP (Unaudited) | 12 Months Ended |
Dec. 31, 2016 | |
Healthcare Trust of America Holdings, LP (HTALP) | |
Selected Quarterly Financial Data [Line Items] | |
Selected Quarterly Financial Data of HTALP (Unaudited) | Selected Quarterly Financial Data of HTALP (Unaudited) The following is the selected quarterly financial data of HTALP for 2016 and 2015 . We believe that all necessary adjustments, consisting of only normal recurring adjustments, have been included (in thousands, except per unit data). Quarter Ended (1) 2016 March 31 June 30 September 30 December 31 Revenues $ 107,315 $ 113,234 $ 118,340 $ 122,039 Net income 10,036 13,516 6,639 17,154 Net income attributable to common unitholders 10,005 13,520 6,638 17,064 Earnings per common unit - basic: Net income attributable to common unitholders $ 0.08 $ 0.10 $ 0.05 $ 0.12 Earnings per common unit - diluted: Net income attributable to common unitholders $ 0.08 $ 0.10 $ 0.05 $ 0.12 (1) The sum of the individual quarterly amounts may not agree to the annual amounts included in the accompanying consolidated statements of operations due to rounding. Quarter Ended (1) 2015 March 31 June 30 September 30 December 31 Revenues $ 98,520 $ 99,311 $ 103,942 $ 102,049 Net income 6,942 9,488 6,554 10,573 Net income attributable to common unitholders 6,909 9,464 6,534 10,538 Earnings per common unit - basic: Net income attributable to common unitholders $ 0.05 $ 0.07 $ 0.05 $ 0.08 Earnings per common unit - diluted: Net income attributable to common unitholders $ 0.05 $ 0.07 $ 0.05 $ 0.08 (1) The sum of the individual quarterly amounts may not agree to the annual amounts included in the accompanying consolidated statements of operations due to rounding. |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended |
Dec. 31, 2016 | |
Valuation and Qualifying Accounts [Abstract] | |
Schedule II - Valuation and Qualifying Accounts | HEALTHCARE TRUST OF AMERICA, INC. AND HEALTHCARE TRUST OF AMERICA HOLDINGS, LP SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (In thousands) Balance at Beginning of Period Charged to Expenses Adjustments to Valuation Accounts Deductions Balance at End of Period 2016 - Allowance for doubtful accounts $ 2,150 $ 846 $ — $ (972 ) $ 2,024 2015 - Allowance for doubtful accounts 2,017 828 — (695 ) 2,150 2014 - Allowance for doubtful accounts 2,121 312 — (416 ) 2,017 |
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 | HEALTHCARE TRUST OF AMERICA, INC. AND HEALTHCARE TRUST OF AMERICA HOLDINGS, LP SCHEDULE III — REAL ESTATE AND ACCUMULATED DEPRECIATION The following schedule presents our total real estate investments and accumulated depreciation for our operating properties as of December 31, 2016 (in thousands): Initial Cost to Company Cost Subsequent to Acquisition (a) Gross Amount at Which Carried at Close of Period Encumbrances Land Buildings, Improvements and Fixtures Land Buildings, Improvements and Fixtures Total (c) Accumulated Depreciation(f) Date of Construction Date Acquired Life on Which Building Depreciation in Income Statement is Computed (h) Shelby MOBs Alabaster, AL $ — $ — $ 25,095 $ 70 $ — $ 25,165 $ 25,165 $ (350 ) 1995-1998 2016 36 Simon Williamson Clinic Birmingham, AL — — 25,689 — — 25,689 25,689 (426 ) 2007 2016 36 Jasper Jasper, AL — — 5,973 — — 5,973 5,973 (127 ) 1979 2016 25 Phoenix Med Center Glendale, AZ — 453 2,768 536 453 3,304 3,757 (884 ) 1989 2011 39 Thunderbird MOP Glendale, AZ 12,444 3,842 19,679 3,710 3,842 23,389 27,231 (8,453 ) 1976-1987 2007 39 Peoria MOB Peoria, AZ — 605 4,394 515 605 4,909 5,514 (1,286 ) 2000 2010 39 Baptist MC Phoenix, AZ — — 12,637 1,834 — 14,471 14,471 (3,653 ) 1973 2008 39 Desert Ridge MOB Phoenix, AZ — — 27,738 2,633 — 30,371 30,371 (5,022 ) 2004-2006 2011 39 Estrella Med Center Phoenix, AZ 18,958 — 24,703 2,936 — 27,639 27,639 (5,948 ) 2004 2010 39 Sun City Boswell MOBs Sun City, AZ — — 12,775 2,667 — 15,442 15,442 (4,843 ) 1971-2001 2009 39 Sun City Boswell West Sun City, AZ — — 6,610 2,108 — 8,718 8,718 (2,392 ) 1992 2009 39 Sun City Webb MP Sun City, AZ — — 16,188 2,061 — 18,249 18,249 (4,799 ) 1997-2004 2009 39 Sun City West MOBs Sun City, AZ — 744 13,466 2,043 744 15,509 16,253 (4,697 ) 1987-2002 2009 39 Gateway Med Plaza Tucson, AZ — — 14,005 (22 ) — 13,983 13,983 (2,656 ) 2008 2010 39 Tucson Academy MOP Tucson, AZ — 1,193 6,107 1,318 1,193 7,425 8,618 (2,549 ) 1978 2008 39 Tucson Desert Life MOP Tucson, AZ — 1,309 17,572 3,781 1,309 21,353 22,662 (6,314 ) 1980-1984 2007 39 5995 Plaza Drive Cypress, CA — 5,109 17,961 336 5,109 18,297 23,406 (4,867 ) 1986 2008 39 St. Mary Physician’s Center Long Beach, CA — 1,815 10,242 1,275 1,815 11,517 13,332 (2,986 ) 1992 2007 39 Mission Medical Center MOBs Mission Viejo, CA — 21,911 117,672 — 21,911 117,672 139,583 (1,280 ) 1972-1985 2016 39 San Luis Obispo MOB San Luis Obispo, CA — — 11,900 2,598 — 14,498 14,498 (3,428 ) 2009 2010 39 Hampden Place MOB Englewood, CO — 3,032 12,553 299 3,032 12,852 15,884 (3,167 ) 2004 2009 39 Highlands Ranch MOP Highlands Ranch, CO — 2,240 10,426 3,018 2,240 13,444 15,684 (4,556 ) 1983-1985 2007 39 Lone Tree Medical Office Buildings Lone Tree, CO — 3,736 29,546 699 3,736 30,245 33,981 (2,232 ) 2004-2008 2014 38 Lincoln Medical Center Parker, CO — 5,142 28,638 92 5,142 28,730 33,872 (3,368 ) 2008 2013 39 80 Fisher Avon, CT — — 5,094 — — 5,094 5,094 (188 ) 2008 2016 39 Northwestern MOBs Bloomfield, CT — 1,369 6,287 440 1,369 6,727 8,096 (228 ) 1985 2016 35 533 Cottage - Northwestern Bloomfield, CT — 726 3,964 — 726 3,964 4,690 (111 ) 1955 2016 35 406 Farmington Farmington, CT — 379 3,509 — 379 3,509 3,888 (89 ) 1988 2016 39 704 Hebron Glastonbury, CT — 2,223 6,544 — 2,223 6,544 8,767 (214 ) 2001 2016 37 Gateway MOBs Glastonbury, CT — 10,896 37,442 894 10,896 38,336 49,232 (1,228 ) 2007-2014 2016 39 Haynes MOBs Manchester, CT 7,677 1,100 14,620 — 1,100 14,620 15,720 (346 ) 2007-2010 2016 39 Pomeroy MOBs Meriden, CT — 1,774 10,078 — 1,774 10,078 11,852 (325 ) 2009-2011 2016 39 Saybrook MOBs Middletown, CT — — 10,314 9 — 10,323 10,323 (276 ) 1989 2016 28 Yale Long Wharf New Haven, CT — 9,367 58,691 1,007 9,367 59,698 69,065 (2,398 ) 1977 2016 30 Devine MOBs North Haven, CT — 3,281 19,671 — 3,281 19,671 22,952 (634 ) 2006-2013 2016 35 Evergreen MOBs South Windsor, CT 12,193 5,565 25,839 4 5,565 25,843 31,408 (693 ) 2006-2011 2016 39 Day Hill MOBs Windsor, CT — 3,980 7,055 75 3,980 7,130 11,110 (328 ) 1990-1999 2016 30 Riverside MOB Bradenton, FL — 2,230 7,689 — 2,230 7,689 9,919 (112 ) 1980 2016 25 Brandon MOP Brandon, FL — 901 6,946 583 901 7,529 8,430 (2,267 ) 1997 2008 39 McMullen MOB Clearwater, FL — 3,470 12,621 9 3,470 12,630 16,100 (1,160 ) 2009 2014 39 Initial Cost to Company Cost Subsequent to Acquisition (a) Gross Amount at Which Carried at Close of Period Encumbrances Land Buildings, Improvements and Fixtures Land Buildings, Improvements and Fixtures Total (c) Accumulated Depreciation(f) Date of Construction Date Acquired Life on Which Building Depreciation in Income Statement is Computed (h) Orlando Rehab Hospital Edgewood, FL $ — $ 2,600 $ 20,256 $ 3,000 $ 2,600 $ 23,256 $ 25,856 $ (4,180 ) 2007 2010 39 Palmetto MOB Hialeah, FL — — 15,512 1,582 — 17,094 17,094 (2,874 ) 1980 2013 39 East FL Senior Jacksonville Jacksonville, FL — 4,291 9,220 (1 ) 4,291 9,219 13,510 (3,405 ) 1985 2007 39 King Street MOB Jacksonville, FL — — 7,232 (41 ) — 7,191 7,191 (1,630 ) 2007 2010 39 Jupiter MP Jupiter, FL — 1,204 11,778 563 1,204 12,341 13,545 (1,401 ) 1996-1997 2013 39 Central FL SC Lakeland, FL — 768 3,002 329 768 3,331 4,099 (922 ) 1995 2008 39 Vista Pro Center MOP Lakeland, FL — 1,082 3,587 754 1,082 4,341 5,423 (1,291 ) 1996-1999 2007-2008 39 Largo Medical Center Largo, FL 28,465 — 51,045 479 — 51,524 51,524 (4,646 ) 2009 2013 39 Largo MOP Largo, FL — 729 8,908 1,201 729 10,109 10,838 (2,804 ) 1975-1986 2008 39 FL Family Medical Center Lauderdale Lakes, FL — — 4,257 517 — 4,774 4,774 (935 ) 1978 2013 39 Northwest Medical Park Margate, FL — — 9,525 92 — 9,617 9,617 (1,046 ) 2009 2013 39 North Shore MOB Miami, FL — — 4,942 392 — 5,334 5,334 (1,173 ) 1978 2013 39 Sunset Professional and Kendall MOBs Miami, FL — 11,855 13,633 2,599 11,855 16,232 28,087 (2,250 ) 1954-2006 2014 27 Common V MOB Naples, FL 8,672 4,173 9,070 660 4,173 9,730 13,903 (2,696 ) 1990 2007 39 Orlando Lake Underhill MOB Orlando, FL — — 8,515 1,150 — 9,665 9,665 (2,118 ) 2000 2010 39 Orlando Oviedo MOB Oviedo, FL — — 5,711 427 — 6,138 6,138 (1,241 ) 1998 2010 39 Heart & Family Health MOB Port St. Lucie, FL — 686 8,102 5 686 8,107 8,793 (853 ) 2008 2013 39 St. Lucie MC Port St. Lucie, FL — — 6,127 — — 6,127 6,127 (715 ) 2008 2013 39 East FL Senior Sunrise Sunrise, FL — 2,947 12,825 — 2,947 12,825 15,772 (4,198 ) 1989 2007 39 Tallahassee Rehab Hospital Tallahassee, FL — 7,142 18,691 2,400 7,142 21,091 28,233 (4,080 ) 2007 2010 39 FL Ortho Institute Temple Terrace, FL — 2,923 17,647 (1 ) 2,923 17,646 20,569 (3,406 ) 2001-2003 2010 39 Wellington MAP III Wellington, FL — — 10,511 27 — 10,538 10,538 (2,009 ) 2006 2010 39 Victor Farris MOB West Palm Beach, FL — — 23,052 824 — 23,876 23,876 (3,293 ) 1988 2013 39 East FL Senior Winter Park Winter Park, FL — 2,840 12,825 — 2,840 12,825 15,665 (4,495 ) 1988 2007 39 Camp Creek Med Center Atlanta, GA — 2,961 19,688 79 2,961 19,767 22,728 (4,825 ) 2006-2010 2010-2012 39 Augusta Rehab Hospital Augusta, GA — 1,059 20,899 — 1,059 20,899 21,958 (3,760 ) 2007 2010 39 Austell Medical Park Austell, GA — 432 4,057 26 432 4,083 4,515 (584 ) 2007 2013 39 Decatur MP Decatur, GA — 3,166 6,862 712 3,166 7,574 10,740 (2,118 ) 1976 2008 39 Yorktown MC Fayetteville, GA — 2,802 12,502 2,388 2,802 14,890 17,692 (5,155 ) 1987 2007 39 Gwinett MOP Lawrenceville, GA — 1,290 7,246 2,130 1,290 9,376 10,666 (2,822 ) 1985 2007 39 Marietta Health Park Marietta, GA — 1,276 12,197 815 1,276 13,012 14,288 (3,773 ) 2000 2008 39 WellStar Tower MOB Marietta, GA — 748 13,528 52 748 13,580 14,328 (755 ) 2007 2015 39 Shakerag MC Peachtree City, GA 12,215 743 3,290 1,318 743 4,608 5,351 (1,642 ) 1994 2007 39 Overlook at Eagle’s Landing Stockbridge, GA — 638 6,685 502 638 7,187 7,825 (1,529 ) 2004 2010 39 SouthCrest MOP Stockbridge, GA — 4,260 14,636 1,790 4,260 16,426 20,686 (4,849 ) 2005 2008 39 Cherokee Medical Center Woodstock, GA — — 16,558 30 — 16,588 16,588 (1,035 ) 2001 2015 35 Honolulu MOB Honolulu, HI 14,304 — 27,336 345 — 27,681 27,681 (2,020 ) 1997 2014 35 Kapolei Medical Park Kapolei, HI — — 16,253 119 — 16,372 16,372 (1,491 ) 1999 2014 35 Rush Oak Park MOB Oak Park, IL — 1,096 38,550 — 1,096 38,550 39,646 (5,843 ) 2000 2012 38 Brownsburg MOB Brownsburg, IN — 431 639 248 431 887 1,318 (424 ) 1989 2008 39 Athens SC Crawfordsville, IN — 381 3,575 294 381 3,869 4,250 (1,277 ) 2000 2007 39 Crawfordsville MOB Crawfordsville, IN — 318 1,899 157 318 2,056 2,374 (676 ) 1997 2007 39 Initial Cost to Company Cost Subsequent to Acquisition (a) Gross Amount at Which Carried at Close of Period Encumbrances Land Buildings, Improvements and Fixtures Land Buildings, Improvements and Fixtures Total (c) Accumulated Depreciation(f) Date of Construction Date Acquired Life on Which Building Depreciation in Income Statement is Computed (h) Deaconess Clinic Downtown Evansville, IN $ — $ 1,748 $ 21,963 $ 60 $ 1,748 $ 22,023 $ 23,771 $ (5,223 ) 1952-1967 2010 39 Deaconess Clinic Westside Evansville, IN — 360 3,265 356 360 3,621 3,981 (828 ) 2005 2010 39 Dupont MOB Fort Wayne, IN — — 8,246 27 — 8,273 8,273 (1,000 ) 2004 2013 39 Ft. Wayne MOB Fort Wayne, IN — — 6,579 — — 6,579 6,579 (1,335 ) 2008 2009 39 Community MP Indianapolis, IN — 560 3,581 297 560 3,878 4,438 (1,216 ) 1995 2008 39 Eagle Highlands MOP Indianapolis, IN — 2,216 11,154 7,214 2,216 18,368 20,584 (5,433 ) 1988-1989 2008 39 Epler Parke MOP Indianapolis, IN — 1,556 6,928 1,037 1,556 7,965 9,521 (2,630 ) 2002-2003 2007-2008 39 Glendale Prof Plaza Indianapolis, IN — 570 2,739 1,218 570 3,957 4,527 (1,509 ) 1993 2008 39 MMP Eagle Highlands Indianapolis, IN — 1,044 13,548 2,575 1,044 16,123 17,167 (5,141 ) 1993 2008 39 MMP East Indianapolis, IN — 1,236 9,840 3,642 1,236 13,482 14,718 (4,822 ) 1996 2008 39 MMP North Indianapolis, IN — 1,518 15,460 4,219 1,427 19,770 21,197 (5,911 ) 1995 2008 39 MMP South Indianapolis, IN — 1,127 10,414 1,763 1,127 12,177 13,304 (3,916 ) 1994 2008 39 Southpointe MOP Indianapolis, IN — 2,190 7,548 2,356 2,190 9,904 12,094 (3,138 ) 1996 2007 39 Kokomo MOP Kokomo, IN — 1,779 9,614 1,167 1,779 10,781 12,560 (3,464 ) 1992-1994 2007 39 Deaconess Clinic Gateway Newburgh, IN — — 10,952 25 — 10,977 10,977 (2,277 ) 2006 2010 39 Community Health Pavilion Noblesville, IN — 5,560 28,988 713 5,560 29,701 35,261 (1,884 ) 2009 2015 39 Zionsville MC Zionsville, IN — 655 2,877 875 664 3,743 4,407 (1,212 ) 1992 2008 39 KS Doctors MOB Overland Park, KS — 1,808 9,517 1,776 1,808 11,293 13,101 (3,351 ) 1978 2008 39 Nashoba Valley Med Center MOB Ayer, MA — — 5,529 304 299 5,534 5,833 (922 ) 1976-2007 2012 31 670 Albany Boston, MA — — 104,365 11 — 104,376 104,376 (4,707 ) 2005 2015 39 Tufts Medical Center Boston, MA 70,583 32,514 109,180 5,302 32,514 114,482 146,996 (9,329 ) 1924-2015 2014 35 St. Elizabeth’s Med Center Brighton, MA — — 20,929 2,703 1,379 22,253 23,632 (3,311 ) 1965-2013 2012 31 Good Samaritan MOBs Brockton, MA — — 15,887 473 144 16,216 16,360 (2,438 ) 1980-2007 2012 31 Pearl Street MOBs Brockton, MA 7,011 4,714 18,193 — 4,714 18,193 22,907 — 1966-2004 2016 39 Carney Hospital MOB Dorchester, MA — — 7,250 632 530 7,352 7,882 (1,161 ) 1978 2012 31 St. Anne’s Hospital MOB Fall River, MA — — 9,304 55 40 9,319 9,359 (1,138 ) 2011 2012 31 Norwood Hospital MOB Foxborough, MA — — 9,489 186 2,295 7,380 9,675 (1,269 ) 1930-2000 2012 31 Holy Family Hospital MOB Methuen, MA — — 4,502 242 168 4,576 4,744 (871 ) 1988 2012 31 N. Berkshire MOB North Adams, MA — — 7,259 225 — 7,484 7,484 (1,501 ) 2002 2011 39 Morton Hospital MOB Taunton, MA — — 15,317 1,006 502 15,821 16,323 (3,774 ) 1988 2012 31 Stetson MOB Weymouth, MA — 3,362 15,555 164 3,362 15,719 19,081 (1,151 ) 1900-1986 2015 20 Johnston Professional Building Baltimore, MD 13,780 — 21,481 233 — 21,714 21,714 (1,765 ) 1993 2014 35 Triad Tech Center Baltimore, MD 10,846 — 26,548 — — 26,548 26,548 (4,900 ) 1989 2010 39 St. John Providence MOB Novi, MI — — 42,371 219 — 42,590 42,590 (8,236 ) 2007 2012 39 Fort Road MOB St. Paul, MN — 1,571 5,786 813 1,571 6,599 8,170 (1,951 ) 1981 2008 39 Gallery Professional Building St. Paul, MN 5,525 1,157 5,009 3,351 1,157 8,360 9,517 (4,037 ) 1979 2007 39 Chesterfield Rehab Hospital Chesterfield, MO — 4,213 27,898 776 4,313 28,574 32,887 (7,403 ) 2007 2007 39 BJC West County MOB Creve Coeur, MO — 2,242 13,130 593 2,242 13,723 15,965 (3,853 ) 1978 2008 39 Winghaven MOB O’Fallon, MO — 1,455 9,708 613 1,455 10,321 11,776 (3,080 ) 2001 2008 39 BJC MOB St. Louis, MO — 304 1,554 (952 ) 304 602 906 (390 ) 2001 2008 39 Des Peres MAP II St. Louis, MO — — 11,386 1,136 — 12,522 12,522 (2,676 ) 2007 2010 39 Medical Park of Cary Cary, NC — 2,931 19,855 2,623 2,931 22,478 25,409 (5,138 ) 1994 2010 39 Rex Cary MOB Cary, NC — 1,449 18,226 224 1,449 18,450 19,899 (901 ) 2002 2015 39 Tryon Office Center Cary, NC — 2,200 14,956 120 2,200 15,076 17,276 (922 ) 2002-2006 2015 39 Initial Cost to Company Cost Subsequent to Acquisition (a) Gross Amount at Which Carried at Close of Period Encumbrances Land Buildings, Improvements and Fixtures Land Buildings, Improvements and Fixtures Total (c) Accumulated Depreciation(f) Date of Construction Date Acquired Life on Which Building Depreciation in Income Statement is Computed (h) Duke Fertility Center Durham, NC $ — $ 596 $ 3,882 $ — $ 596 $ 3,882 $ 4,478 $ (21 ) 2006 2016 39 Hock Plaza II Durham, NC — 680 27,044 — 680 27,044 27,724 (140 ) 2006 2016 36 3100 Blue Ridge Raleigh, NC — 1,732 8,891 305 1,732 9,196 10,928 (927 ) 1985 2014 35 Raleigh Medical Center Raleigh, NC — 2,381 15,630 6,532 2,381 22,162 24,543 (4,233 ) 1989 2010 39 Nutfield Professional Center Derry, NH — 1,075 10,320 745 1,075 11,065 12,140 (2,836 ) 1963 2008 39 Santa Fe 1640 MOB Santa Fe, NM — 697 4,268 64 697 4,332 5,029 (943 ) 1985 2010 39 Santa Fe 440 MOB Santa Fe, NM — 842 7,448 13 842 7,461 8,303 (1,630 ) 1978 2010 39 San Martin MAP Las Vegas, NV — — 14,777 568 — 15,345 15,345 (2,762 ) 2007 2010 39 Madison Ave MOB Albany, NY — 83 2,759 61 83 2,820 2,903 (564 ) 1964-2008 2010 39 Patroon Creek HQ Albany, NY — 1,870 29,453 5,152 1,870 34,605 36,475 (6,682 ) 2001 2010 39 Patroon Creek MOB Albany, NY — 1,439 27,639 487 1,439 28,126 29,565 (5,389 ) 2007 2010 39 Washington Ave MOB Albany, NY — 1,699 18,440 489 1,699 18,929 20,628 (3,887 ) 1998-2000 2010 39 Putnam MOB Carmel, NY — — 24,216 100 — 24,316 24,316 (4,110 ) 2000 2010 39 Capital Region Health Park Latham, NY — 2,305 37,494 3,218 2,305 40,712 43,017 (8,136 ) 2001 2010 39 Westchester MOBs White Plains, NY — 17,274 41,865 1,043 17,274 42,908 60,182 (5,049 ) 1967-1983 2014 29 210 Westchester MOB White Plains, NY — 8,628 18,408 — 8,628 18,408 27,036 (1,493 ) 1981 2014 31 Diley Ridge MOB Canal Winchester, OH — — 9,811 70 — 9,881 9,881 (475 ) 2010 2015 39 Market Exchange MOP Columbus, OH — 2,326 17,207 2,794 2,326 20,001 22,327 (5,259 ) 2001-2003 2007-2010 39 Polaris MOB Columbus, OH — 1,447 12,192 — 1,447 12,192 13,639 (266 ) 2012 2016 39 Gahanna MOB Gahanna, OH — 1,078 5,674 — 1,078 5,674 6,752 (62 ) 1997 2016 30 Hilliard MOB Hilliard, OH — 946 11,174 687 946 11,861 12,807 (568 ) 2013 2015 39 Hilliard II MOB Hilliard, OH — 959 7,260 3 959 7,263 8,222 (195 ) 2014 2016 38 Park Place MOP Kettering, OH — 1,987 11,341 2,594 1,987 13,935 15,922 (4,797 ) 1998-2002 2007 39 Liberty Falls MP Liberty, OH — 842 5,640 982 842 6,622 7,464 (2,176 ) 2008 2008 39 Parma Ridge MOB Parma, OH — 372 3,636 823 372 4,459 4,831 (1,351 ) 1977 2008 39 Deaconess MOP Oklahoma City, OK — — 25,975 3,455 — 29,430 29,430 (7,996 ) 1991-1996 2008 39 Silverton Health MOB Woodburn, OR — 953 6,164 — 953 6,164 7,117 (129 ) 2001 2016 35 Monroeville MOB Monroeville, PA — 3,264 7,038 466 3,264 7,504 10,768 (1,677 ) 1985-1989 2013 39 2750 Monroe MOB Norristown, PA — 2,323 22,631 5,423 2,323 28,054 30,377 (8,409 ) 1985 2007 39 Federal North MOB Pittsburgh, PA — 2,489 30,268 262 2,489 30,530 33,019 (5,916 ) 1999 2010 39 Highmark Penn Ave Pittsburgh, PA — 1,774 38,921 2,256 1,774 41,177 42,951 (6,934 ) 1907-1998 2012 39 WP Allegheny HQ MOB Pittsburgh, PA — 1,514 32,368 454 1,514 32,822 34,336 (5,886 ) 2002 2010 39 39 Broad Street Charleston, SC — 3,180 1,970 2,447 3,475 4,122 7,597 (65 ) 1891 2015 39 Cannon Park Place Charleston, SC — 425 8,651 629 425 9,280 9,705 (1,706 ) 1998 2010 39 MUSC Elm MOB Charleston, SC — 1,172 4,361 — 1,172 4,361 5,533 (128 ) 2015 2016 39 Tides Medical Arts Center Charleston, SC — 3,763 19,787 45 3,763 19,832 23,595 (1,528 ) 2007 2014 39 GHS Memorial Greenville, SC — — 8,301 869 — 9,170 9,170 (1,796 ) 1992 2009 39 GHS MMC Greenville, SC 20,793 995 39,158 1,696 995 40,854 41,849 (8,372 ) 1987-1998 2009 39 GHS MOBs I Greenville, SC — 1,644 9,144 (792 ) 294 9,702 9,996 (2,262 ) 1974-1990 2009 39 GHS Patewood MOP Greenville, SC — — 64,537 1,170 — 65,707 65,707 (13,770 ) 1983-2007 2009 39 GHS Greer MOBs Greenville, Travelers Rest and Greer, SC — 1,309 14,639 175 1,309 14,814 16,123 (3,093 ) 1992-2008 2009 39 Hilton Head Heritage MOP Hilton Head Island, SC — 1,125 5,398 (9 ) 1,125 5,389 6,514 (1,126 ) 1996 2010 39 Initial Cost to Company Cost Subsequent to Acquisition (a) Gross Amount at Which Carried at Close of Period Encumbrances Land Buildings, Improvements and Fixtures Land Buildings, Improvements and Fixtures Total (c) Accumulated Depreciation(f) Date of Construction Date Acquired Life on Which Building Depreciation in Income Statement is Computed (h) Hilton Head Moss Creek MOB Hilton Head Island, SC $ — $ 209 $ 2,066 $ 45 $ 209 $ 2,111 $ 2,320 $ (396 ) 2010 2010 39 East Cooper Medical Arts Center Mt. Pleasant, SC — 2,470 6,289 45 2,470 6,334 8,804 (833 ) 2001 2014 32 East Cooper Medical Center Mt. Pleasant, SC — 2,073 5,939 1,053 2,073 6,992 9,065 (1,543 ) 1992 2010 39 MUSC University MOB North Charleston, SC — 1,282 8,689 24 1,282 8,713 9,995 (617 ) 2006 2015 36 Mary Black MOB Spartanburg, SC — — 12,523 102 — 12,625 12,625 (3,138 ) 2006 2009 39 Lenox Office Park Memphis, TN — 1,670 13,626 (691 ) 1,670 12,935 14,605 (3,813 ) 2000 2007 39 Mountain Empire MOBs Rogersville, Kingsport and Bristol, TN & Norton and Pennington Gap, VA — 1,296 36,523 4,578 1,278 41,119 42,397 (11,284 ) 1976-2006 2008-2011 39 Amarillo Hospital Amarillo, TX — 1,110 17,688 29 1,110 17,717 18,827 (4,220 ) 2007 2008 39 Austin Heart MOB Austin, TX — — 15,172 138 — 15,310 15,310 (1,522 ) 1999 2013 39 Post Oak North MC Austin, TX — 887 7,011 (41 ) 887 6,970 7,857 (774 ) 2007 2013 39 Texas A&M Health Science Center Bryan, TX — — 32,494 61 — 32,555 32,555 (4,198 ) 2011 2013 39 Dallas Rehab Hospital Carrollton, TX — 1,919 16,341 — 1,919 16,341 18,260 (3,100 ) 2006 2010 39 Cedar Hill MOB Cedar Hill, TX — 778 4,830 144 778 4,974 5,752 (1,540 ) 2007 2008 39 Corsicana MOB Corsicana, TX — — 6,781 24 — 6,805 6,805 (1,778 ) 2007 2009 39 Dallas LTAC Hospital Dallas, TX — 2,301 20,627 — 2,301 20,627 22,928 (4,188 ) 2007 2009 39 Forest Park Pavilion Dallas, TX — 9,670 11,152 (1,033 ) 9,670 10,119 19,789 (1,495 ) 2010 2012 39 Forest Park Tower Dallas, TX — 3,340 35,071 10 3,340 35,081 38,421 (4,673 ) 2011 2013 39 Denton Med Rehab Hospital Denton, TX — 2,000 11,704 — 2,000 11,704 13,704 (2,817 ) 2008 2009 39 Denton MOB Denton, TX — — 7,543 — — 7,543 7,543 (1,546 ) 2000 2010 39 Cliff Medical Plaza El Paso, TX — 1,064 1,972 (14 ) 1,064 1,958 3,022 (295 ) 1977 2016 8 Providence Medical Plaza El Paso, TX — — 5,396 328 — 5,724 5,724 (352 ) 1981 2016 20 Sierra Medical El Paso, TX — — 2,998 124 — 3,122 3,122 (250 ) 1972 2016 15 Forest Park Frisco MC Frisco, TX — 1,238 19,979 1,856 1,238 21,835 23,073 (2,675 ) 2012 2013 39 Greenville MOB Greenville, TX — 616 10,822 363 616 11,185 11,801 (3,077 ) 2007 2008 39 7900 Fannin MOB Houston, TX — — 34,764 932 — 35,696 35,696 (6,748 ) 2005 2010 39 Cypress Medical Building MOB Houston, TX — — 4,678 195 — 4,873 4,873 (256 ) 1984 2016 30 Cypress Station MOB Houston, TX — 1,345 8,312 878 1,345 9,190 10,535 (2,888 ) 1981 2008 39 Park Plaza MOB Houston, TX — 5,719 50,054 352 5,719 50,406 56,125 (2,332 ) 1984 2016 24 Triumph Hospital NW Houston, TX — 1,377 14,531 237 1,377 14,768 16,145 (4,762 ) 1986 2007 39 Lone Star Endoscopy MOB Keller, TX — 622 3,502 (5 ) 622 3,497 4,119 (939 ) 2006 2008 39 Lewisville MOB Lewisville, TX — 452 3,841 — 452 3,841 4,293 (862 ) 2000 2010 39 Terrace Medical Building Nacogdoches, TX — — 179 — — 179 179 (39 ) 1975 2016 5 Towers Medical Plaza Nacogdoches, TX — — 786 (6 ) — 780 780 (126 ) 1981 2016 10 Pearland MOB Pearland, TX — 1,602 7,017 (2,573 ) 912 5,134 6,046 (1,281 ) 2003-2007 2010 39 Independence Medical Village Plano, TX — 4,229 17,874 — 4,229 17,874 22,103 (369 ) 2014 2016 39 San Angelo MOB San Angelo, TX — — 3,907 — — 3,907 3,907 (1,010 ) 2007 2009 39 Mtn Plains Pecan Valley San Antonio, TX — 416 13,690 711 416 14,401 14,817 (3,465 ) 1998 2008 39 Sugar Land II MOB Sugar Land, TX — — 9,648 270 — 9,918 9,918 (2,908 ) 1999 2010 39 Triumph Hospital SW Sugar Land, TX — 1,670 14,018 (14 ) 1,656 14,018 15,674 (4,696 ) 1989 2007 39 Baylor MP Waxahachie, TX — 865 6,728 (1,147 ) 865 5,581 6,446 (1,870 ) 2006 2008 39 Initial Cost to Company Cost Subsequent to Acquisition (a) Gross Amount at Which Carried at Close of Period Encumbrances Land Buildings, Improvements and Fixtures Land Buildings, Improvements and Fixtures Total (c) Accumulated Depreciation(f) Date of Construction Date Acquired Life on Which Building Depreciation in Income Statement is Computed (h) Mtn Plains Clear Lake Webster, TX $ — $ 832 $ 21,168 $ 1,091 $ 832 $ 22,259 $ 23,091 $ (5,320 ) 2006 2008 39 N. Texas Neurology MOB Wichita Falls, TX — 736 5,611 (1,758 ) 736 3,853 4,589 (1,505 ) 1957 2008 39 Renaissance MC Bountiful, UT — 3,701 24,442 (216 ) 3,701 24,226 27,927 (5,916 ) 2004 2008 39 Aurora - Franklin Franklin, WI — 945 15,336 2 945 15,338 16,283 (4,275 ) 2003 2009 39 Aurora - Menomenee Menomonee Falls, WI — 1,055 14,998 — 1,055 14,998 16,053 (4,508 ) 1964 2009 39 Aurora - Mequon Mequon, WI — 950 19,027 (3,029 ) 629 16,319 16,948 (4,686 ) 1992-2001 2009 39 Aurora - Milwaukee Milwaukee, WI — 350 5,508 — 350 5,508 5,858 (1,643 ) 1983 2009 39 Total $ 243,466 $ 383,249 $ 3,305,589 $ 164,204 $ 386,526 $ 3,466,516 $ 3,853,042 $ (581,505 ) (a) The cost capitalized subsequent to acquisition is net of dispositions. (b) The above table excludes lease intangibles; see notes (d) and (g). (c) 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 $ 3,204,863 $ 2,953,532 $ 2,561,073 Acquisitions 647,339 266,747 410,732 Additions 43,637 28,828 33,109 Dispositions (39,717 ) (43,318 ) (51,382 ) Impairments (3,080 ) (926 ) — Balance as of the end of the year (d) $ 3,853,042 $ 3,204,863 $ 2,953,532 (d) The balances as of December 31, 2016 , 2015 and 2014 exclude gross lease intangibles of $467.6 million , $430.7 million and $419.3 million , respectively. (e) The aggregate cost of our real estate for federal income tax purposes was $4.3 billion . (f) 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 $ 474,223 $ 383,966 $ 308,173 Additions 117,282 101,194 87,854 Dispositions (10,000 ) (10,937 ) (12,061 ) Balance as of the end of the year (g) $ 581,505 $ 474,223 $ 383,966 (g) The balances as of December 31, 2016 , 2015 and 2014 exclude accumulated amortization of lease intangibles of $236.1 million , $201.9 million and $166.0 million , respectively. (h) Tenant improvements are depreciated over the shorter of the lease term or useful life, ranging from one month to 193 months , respectively. Furniture, fixtures and equipment are depreciated over five years . |
Schedule IV - Mortgage Loans on
Schedule IV - Mortgage Loans on Real Estate Assets | 12 Months Ended |
Dec. 31, 2016 | |
Mortgage Loans on Real Estate [Abstract] | |
Schedule IV - Mortgage Loans on Real Estate Assets | HEALTHCARE TRUST OF AMERICA, INC. AND HEALTHCARE TRUST OF AMERICA HOLDINGS, LP SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE ASSETS The following shows changes in the carrying amounts of mortgage loans on real estate assets during the years ended December 31, 2016 , 2015 and 2014 (in thousands): Year Ended December 31, 2016 2015 2014 Balance as of the beginning of the year $ — $ — $ 28,520 Additions: New mortgage loans 12,737 — 11,924 Deductions: Mortgage loan included in the consideration for the acquisition of a building — — (11,924 ) Collection of mortgage loans — — (28,520 ) Balance as of the end of the year $ 12,737 $ — $ — |
Summary of Significant Accoun31
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Our accompanying consolidated financial statements include our accounts and those of our subsidiaries and any consolidated VIEs. All inter-company balances and transactions have been eliminated in the accompanying consolidated financial statements. |
Principles of Consolidation | VIEs are entities where investors lack sufficient equity at risk for the entity to finance its activities without additional subordinated financial support or where equity investors, as a group, lack one of the following: (i) the power to direct the activities that most significantly impact the entity’s economic performance; (ii) the obligation to absorb the expected losses of the entity; and (iii) the right to receive the expected returns of the entity. We consolidate our investment in VIEs when we determine that we are the primary beneficiary. A primary beneficiary is one that has both: (i) the power to direct the activities of the VIE that most significantly impacts the entity’s economic performance; and (ii) the obligation to absorb losses or the right to receive benefits of the VIE that could be significant to the entity. Our analysis of FASB ASU 2015-02 and ASU 2016-17 concluded that our operating partnership and other joint venture arrangements are VIEs, as the limited partners in the related partnerships, although entitled to vote on certain matters, do not possess kick-out rights or substantive participating rights. Additionally, we determined we are the primary beneficiary of our VIEs. Accordingly, we consolidate our interests in the operating partnership and other joint venture arrangements. Although, as we hold what is deemed a majority voting interest in the operating partnership and other joint venture arrangements, it qualifies for the exemption from providing certain disclosure requirements associated with investments in VIEs. We will evaluate on an ongoing basis the need to consolidate entities based on the standards set forth in GAAP as described above. As of January 1, 2016, the Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2015-02 and ASU 2016-17, as described below in “Recently Issued or Adopted Accounting Pronouncements”, which simplifies consolidation accounting by reducing the number of consolidation models and changing various aspects of current GAAP, including certain consolidation criteria for VIEs. The consolidated financial statements include our accounts of those of our subsidiaries and consolidated joint venture arrangements. The portions of the operating partnership not owned by us are presented as non-controlling interests in our consolidated balance sheets and statements of operations, consolidated statements of equity, and consolidated statements of changes in partners’ capital. The portions of other joint venture arrangements not owned by us are presented as redeemable non-controlling interests in our consolidated balance sheets. In addition, as described in Note 1 - Organization and Description of Business , certain third parties have been issued OP Units. Holders of OP Units are considered to be non-controlling interest holders in HTALP and their ownership interests are reflected as equity in the consolidated balance sheets. Further, a portion of the earnings and losses of HTALP are allocated to non-controlling interest holders based on their respective ownership percentages. Upon conversion of OP Units to common stock, any difference between the fair value of common shares issued and the carrying value of the OP Units converted is recorded as a component of equity. |
Use of Estimates | The preparation of our consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. These estimates are made and evaluated on an ongoing basis using information that is currently available as well as various other assumptions believed to be reasonable under the circumstances. Actual results could differ from those estimates, perhaps in adverse ways, and those estimates could be different under different assumptions or conditions. |
Cash and Cash Equivalents | Cash and cash equivalents consist of all highly liquid investments with a maturity of three months or less when purchased. |
Restricted Cash | Restricted cash is comprised of reserve accounts for property taxes, insurance, capital improvements and tenant improvements as well as collateral accounts for debt and interest rate swaps. |
Revenue Recognition | Minimum annual rental revenue is recognized on a straight-line basis over the term of the related lease (including rent holidays). Differences between rental income recognized and amount contractually due under the lease agreements are recorded as straight-line rent receivables. Tenant reimbursement revenue, which is comprised of additional amounts recoverable from tenants for common area maintenance expenses and certain other recoverable expenses, is recognized as revenue in the period in which the related expenses are incurred. Tenant reimbursements are recorded on a gross basis, as we are generally the primary obligor with respect to purchasing goods and services from third-party suppliers, have discretion in selecting the supplier, and have credit risk. We recognize lease termination fees when there is a signed termination letter agreement, all of the conditions of the agreement have been met, and the tenant is no longer occupying the property. Rental income is reported net of amortization of inducements. |
Tenant Receivables and Allowance for Uncollectible Accounts | Tenant receivables and straight-line rent receivables are carried net of the allowances for uncollectible amounts. An allowance is maintained for estimated losses resulting from the inability of certain tenants to meet the contractual obligations under their leases. Our determination of the adequacy of these allowances is based primarily upon evaluations of historical loss experience, the tenant’s financial condition, security deposits, letters of credit, lease guarantees and current economic conditions and other relevant factors. |
Investments in Real Estate | A property acquired that is not subject to an existing lease is treated as an asset acquisition and recorded at its purchase price, inclusive of acquisition costs, allocated between the acquired tangible assets and assumed liabilities based upon their relative fair values at the date of acquisition. A property acquired with an existing lease is accounted for as a business combination and assets acquired and liabilities assumed, including identified intangible assets and liabilities, are recorded at fair value. With the assistance of independent valuation specialists, we record the purchase price of completed business combinations associated with tangible and intangible assets and liabilities based on their fair values. The tangible assets (land and building and improvements) are determined based upon the value of the property as if it were to be replaced or as if it were vacant using discounted cash flow models similar to those used by market participants. Factors considered by us include an estimate of carrying costs during the expected lease-up periods considering current market conditions and costs to execute similar leases. Additionally, the purchase price of the applicable completed acquisition property is inclusive of above or below market leases, above or below market leasehold interests, in place leases, tenant relationships, above or below market debt assumed, interest rate swaps assumed and any contingent consideration. The value of above or below market leases is determined based upon the present value (using a discount rate which reflects the risks associated with the acquired leases) of the difference between (i) the contractual amounts to be received pursuant to the lease over its remaining term and (ii) our estimate of the amounts that would be received using fair market rates over the remaining term of the lease including any bargain renewal periods. The amounts associated with above market leases are included in other intangibles, net in our accompanying consolidated balance sheets and amortized to rental income over the remaining lease term. The amounts allocated to below market leases are included in intangible liabilities, net in our accompanying consolidated balance sheets and amortized to rental income over the remaining lease term. The value associated with above or below market leasehold interests is determined based upon the present value (using a discount rate which reflects the risks associated with the acquired leases) of the difference between: (i) the contractual amounts to be paid pursuant to the lease over its remaining term; and (ii) our estimate of the amounts that would be paid using fair market rates over the remaining term of the lease including any bargain renewal periods. The amounts recorded for above market leasehold interests are included in intangible liabilities, net in our accompanying consolidated balance sheets and amortized to rental expense over the remaining lease term. The amounts allocated to below market leasehold interests are included in other intangibles, net in our accompanying consolidated balance sheets and amortized to rental expense over the remaining lease term. The total amount of other intangible assets includes in place leases and tenant relationships based on our evaluation of the specific characteristics of each tenant’s lease and our overall relationship with that respective tenant. Characteristics considered by us in allocating these values include the nature and extent of the credit quality and expectations of lease renewals, among other factors. The amounts recorded for in place leases and tenant relationships are included in lease intangibles in our accompanying consolidated balance sheets and will be amortized to amortization expense over the remaining lease term. The value recorded for above or below market debt is determined based upon the present value of the difference between the cash flow stream of the assumed mortgage and the cash flow stream of a market rate mortgage. The amounts recorded for above or below market debt are included in debt in our accompanying consolidated balance sheets and are amortized to interest expense over the remaining term of the assumed debt. The value recorded for interest rate swaps is based upon a discounted cash flow analysis on the expected cash flows, taking into account interest rate curves and the remaining term. See derivative financial instruments below for further discussion. We record contingent consideration at fair value as of the acquisition date and reassess the fair value as of the end of each reporting period, with any changes being recognized in earnings. The cost of operating properties includes the cost of land and buildings and related improvements. Expenditures that increase the service life of properties are capitalized and the cost of maintenance and repairs is charged to expense as incurred. The cost of buildings is depreciated on a straight-line basis over the estimated useful lives of the buildings up to 39 years and for tenant improvements, the shorter of the lease term or useful life, ranging from one month to 193 months. Furniture, fixtures and equipment is depreciated over five years. |
Real Estate Held for Sale | We consider properties as held for sale once management commits to a plan to sell the property and has determined that the sale is probable and expected to occur within one year . Upon classification as held for sale, we record the property at the lower of its carrying amount or fair value, less costs to sell, and cease depreciation and amortization. The fair value is generally based on discounted cash flow analyses, which involve management’s best estimate of market participants’ holding period, market comparables, future occupancy levels, rental rates, capitalization rates, lease-up periods and capital requirements. |
Recoverability of Real Estate Investments | Real estate investments are evaluated for potential impairment whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. Impairment losses are recorded when indicators of impairment are present and the carrying amount of the asset is greater than the sum of future undiscounted cash flows expected to be generated by that asset over the remaining expected holding period. We would recognize an impairment loss when the carrying amount is not recoverable to the extent the carrying amount exceeds the fair value of the property. The fair value is generally based on discounted cash flow analyses. In performing the analysis we consider executed sales agreements or management’s best estimate of market comparables, future occupancy levels, rental rates, capitalization rates, lease-up periods and capital requirements. |
Real Estate Notes Receivable | We evaluate the carrying values of real estate notes receivable on an individual basis. Management periodically evaluates the realizability of future cash flows from real estate notes receivable when events or circumstances, such as the non-receipt of principal and interest payments and/or significant deterioration of the financial condition of the borrower, indicate that the carrying amount of the real estate notes receivable may not be recoverable. An impairment loss is recognized in current period earnings and is calculated as the difference between the carrying amount of the real estate notes receivable and the discounted cash flows expected to be received, or if foreclosure is probable, the fair value of the collateral securing the real estate notes receivable. |
Derivative Financial Instruments | We are exposed to the effect of interest rate changes in the normal course of business. We seek to mitigate these risks by following established risk management policies and procedures which include the occasional use of derivatives. Our primary strategy in entering into derivative contracts is to add stability to interest expense and to manage our exposure to interest rate movements. We utilize derivative instruments, including interest rate swaps, to effectively convert a portion of our variable rate debt to fixed rate debt. We do not enter into derivative instruments for speculative purposes. Derivatives are recognized as either assets or liabilities in our accompanying consolidated balance sheets and are measured at fair value. Since our derivative instruments are not designated as hedge instruments, they do not qualify for hedge accounting, and accordingly, changes in fair value are included as a component of interest expense in our accompanying consolidated statements of operations. The valuation of these instruments is determined with the assistance of an independent valuation specialist using a proprietary model that utilizes widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each derivative and observable inputs. The proprietary model reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves, foreign exchange rates and implied volatilities. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. We incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of our derivative contracts for the effect of nonperformance risk, we have considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts and guarantees. |
Fair Value Measurements | Fair value is a market-based measurement and is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Depending on the nature of the asset or liability, various techniques and assumptions can be used to estimate the fair value. Financial assets and liabilities are measured using inputs from three levels of the fair value hierarchy, as follows: Level 1 — Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that we have the ability to access at the measurement date. An active market is defined as a market in which transactions for the assets or liabilities occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 — Inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active (markets with few transactions), inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.) and inputs that are derived principally from or corroborated by observable market data correlation or other means (market corroborated inputs). Level 3 — Unobservable inputs, only used to the extent that observable inputs are not available, reflect our assumptions about the pricing of an asset or liability. We use fair value measurements to record fair value of certain assets and to estimate fair value of financial instruments not recorded at fair value but required to be disclosed at fair value. |
Receivables and Other Assets | Deferred financing costs include amounts paid to lenders and others to obtain financing and are amortized to interest expense on a straight-line basis over the term of the unsecured revolving credit facility which approximates the effective interest method. Deferred leasing costs are amounts incurred in executing a lease, both for external broker and marketing costs, plus a portion of internal leasing related costs. Deferred leasing costs are amortized on a straight-line basis method over the term of the applicable lease. Deferred leasing costs are included in operating activities in our accompanying consolidated statements of cash flows. |
Share-Based Compensation | We calculate the fair value of share-based awards on the date of grant. Restricted common stock is valued based on the closing price of our common stock on the NYSE. We amortize the share-based compensation expense over the period that the awards are expected to vest, net of estimated forfeitures. |
Noncontrolling Interests | HTA’s net income attributable to noncontrolling interests in the accompanying consolidated statements of operations relate to both noncontrolling interest reflected within equity and redeemable noncontrolling interests reflected outside of equity in the accompanying consolidated balance sheets. OP Units, including LTIP awards, are accounted for as partners’ capital in HTALP’s accompanying consolidated balance sheets and as noncontrolling interest reflected within equity in HTA’s accompanying consolidated balance sheets. Redeemable noncontrolling interests relate to the interests in our consolidated entities that are not wholly owned by us. As these redeemable noncontrolling interests provide for redemption features not solely within our control, we classify such interests outside of permanent equity or partners’ capital. Accordingly, we record the carrying amount at the greater of the initial carrying amount (increased or decreased for the noncontrolling interest’s share of net income or loss and distributions) or the redemption value. |
Income Taxes | HTA believes that it has qualified to be taxed as a REIT under the provisions of the Code, beginning with the taxable year ending December 31, 2007 and it intends to continue to qualify to be taxed as a REIT. To continue to qualify as a REIT for federal income tax purposes, HTA must meet certain organizational and operational requirements, including a requirement to pay dividend distributions to its stockholders of at least 90% of its annual taxable income. As a REIT, HTA is generally not subject to federal income tax on net income that it distributes to its stockholders, but it may be subject to certain state or local taxes on its income and property. If HTA fails to qualify as a REIT in any taxable year, it will then be subject to U.S. federal income taxes on our taxable income and will not be permitted to qualify for treatment as a REIT for U.S. federal income tax purposes for four years following the year during which qualification is lost unless the IRS grants it relief under certain statutory provisions. Such an event could have a material adverse effect on its business, financial condition, results of operations and net cash available for dividend distributions to its stockholders. As discussed in Note 1 - Organization and Description of Business , HTA conducts substantially all of its operations through HTALP. As a partnership, HTALP generally is not liable for federal income taxes. The income and loss from the operations of HTALP is included in the tax returns of its partners, including HTA, 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. |
Concentration of Credit Risk | We maintain the majority of our cash and cash equivalents at major financial institutions in the U.S. and deposits with these financial institutions may exceed the amount of insurance provided on such deposits; however, we regularly monitor the financial stability of these financial institutions and believe we are not currently exposed to any significant default risk with respect to these deposits. |
Segment Disclosure | We have determined that we have one reportable segment, with activities related to investing in healthcare real estate assets. Our investments in healthcare real estate assets are geographically diversified and our chief operating decision maker evaluates operating performance on an individual asset level. As each of our assets has similar economic characteristics, long-term financial performance, tenants, and products and services, our assets have been aggregated into one reportable segment. |
Recently Issued or Adopted Accounting Pronouncements | The following table provides a brief description of recently issued accounting pronouncements: Accounting Pronouncement Description Effective Date Effect on financial statements ASU 2014-09 Revenue from Contracts with Customers (Issued May 2014) ASU 2014-09 is a comprehensive new revenue recognition model requiring a company to recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the consideration (i.e., payment) to which the company expects to be entitled in exchange for those goods or services. In adopting ASU 2014-09, companies may use either a full retrospective or a modified retrospective approach. In July 2015, the FASB deferred the effective date of ASU 2014-09 to the first interim period within annual reporting periods beginning after December 15, 2017 along with the ability to early adopt as of the original effective date. We have identified our revenue streams and are in the process of evaluating the impact on our consolidated financial statements and internal accounting processes; however, as the majority of our revenues are derived from real estate lease contracts, as discussed in relation to ASU 2016-02 below. We will adopt ASU 2014-09 effective January 1, 2018 using the retrospective approach and the adoption will not have a material impact on our consolidated financial statements. Accounting Pronouncement Description Effective Date Effect on financial statements ASU 2016-02 Leases (Issued February 2016) ASU 2016-02 will supersede the existing guidance for lease accounting and states that companies will be required to recognize lease assets and lease liabilities on the balance sheet and disclose key information about leasing arrangements. ASU 2016-02 requires qualitative and quantitative disclosures to supplement the amounts recorded in the financial statements so that users can understand the nature of the entity’s leasing activities, including significant judgments and changes in judgments. Within ASU 2016-02 lessor accounting remained fairly unchanged. In adopting ASU 2016-02, companies will be required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. ASU 2016-02 is effective for the fiscal years beginning after December 15, 2018 with early adoption permitted. We will adopt ASU 2016-02 as of January 1, 2019 using the modified retrospective approach. We are currently evaluating the full impact ASU 2016-02 will have on our consolidated financial statements and disclosures, however, we anticipate there to be a significant increase in our assets and liabilities on our consolidated balance sheets due to the recognition of our current ground leases which represented rental expense of $7.6 million and have an average remaining term of 48.2 years for the year ended December 31, 2016. In addition, we anticipate there to be a material impact on our consolidated balance sheets and statements of operations as certain leasing costs will no longer qualify for capitalization over the life of the lease but instead be required to be expensed as incurred. ASU 2016-13 Financial Instruments Credit Losses: Measurement of Credit Losses on Financial Instruments (Issued June 2016) ASU 2016-13 is intended to improve financial reporting by requiring timelier recognition of credit losses on loans and other financial instruments that are not accounted for at fair value through net income, including loans held for investment, held-to-maturity debt securities, trade and other receivables, net investment in leases and other such commitments. ASU 2016-13 requires that financial statement assets measured at an amortized cost be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019 with early adoption permitted. We do not anticipate early adoption, however, we are evaluating the impact of adopting ASU 2016-13 on our consolidated financial statements. ASU 2016-15 Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments (Issued August 2016) ASU 2016-15 includes multiple provisions intended to clarify various aspects of cash flow presentation by making eight targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017 with early adoption permitted. We will adopt ASU 2016-15 as of the year en ded December 31, 2017. We do not anticipate there to be a material impact, however, we are still evaluating the impact ASU 2016-15 will have on our consolidated financial statements. ASU 2016-18 Statement of Cash Flows: Restricted Cash (Issued November 2016) ASU 2016-18 requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU 2016-18 is effective for fiscal years beginning after December 15, 2017 with early adoption permitted. We will adopt ASU 2016-18 as of the year ended December 31, 2017. We do not anticipate there to be a material impact, however, we are still evaluating the impact ASU 2016-18 will have on our consolidated financial statements. ASU 2017-01 Business Combinations: Clarifying the Definition of a Business (Issued January 2017) ASU 2017-01 clarifies the definition of a business by adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including, but not limited to, acquisitions, disposals, goodwill and consolidation. ASU 2017-01 is effective for fiscal years beginning after December 15, 2017 with early adoption permitted. We anticipate early adoption, however, we are currently evaluating the full impact ASU 2017-01 will have on our consolidated financial statements and disclosures. We anticipate a vast majority of our acquisitions and dispositions to result in asset acquisitions and dispositions rather than business combinations and a significant portion of our acquisition-related expenses to be capitalized. The following table provides a brief description of recently adopted accounting pronouncements: Accounting Pronouncement Description Effective Date Effect on financial statements ASU 2015-02 Amendments to the Consolidation Analysis (Issued February 2015) ASU 2015-02 affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. The amendments in ASU 2015-02 affect the following areas: (i) limited partnerships and similar legal entities; (ii) evaluating fees paid to a decision maker or a service provider as a variable interest; (iii) the effect of fee arrangements on the primary beneficiary determination; (iv) the effect of related parties on the primary beneficiary determination; and (v) certain investment funds. ASU 2015-02 is effective for fiscal years beginning after December 15, 2015 with early adoption permitted. We adopted ASU 2015-02 as of January 1, 2016. The adoption had no material impact on our interests in joint venture arrangements. Accordingly, there was no material impact on previous or current reporting periods’ consolidated financial statements. ASU 2015-16 Business Combinations - Simplifying the Accounting for Measurement-Period Adjustment (Issued September 2015) ASU 2015-16 eliminates the requirement that an acquirer in a business combination has to account for measurement-period adjustments retrospectively. Instead, acquirers must recognize measurement-period adjustments during the period in which they determine the amount of the adjustment, including the effect on earnings of any amounts they would have recorded in previous periods if the accounting had been completed at the acquisition date. ASU 2015-16 is effective for fiscal years beginning after December 15, 2015 with early adoption permitted. We adopted ASU 2015-16 as of January 1, 2016. As a result of the adoption there was no material impact in the previous or current reporting periods’ consolidated financial statements. |
Summary of Significant Accoun32
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Schedule of Effect of Adoption of Recently Issued and Adopted Accounting Pronouncements | The following table provides a brief description of recently issued accounting pronouncements: Accounting Pronouncement Description Effective Date Effect on financial statements ASU 2014-09 Revenue from Contracts with Customers (Issued May 2014) ASU 2014-09 is a comprehensive new revenue recognition model requiring a company to recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the consideration (i.e., payment) to which the company expects to be entitled in exchange for those goods or services. In adopting ASU 2014-09, companies may use either a full retrospective or a modified retrospective approach. In July 2015, the FASB deferred the effective date of ASU 2014-09 to the first interim period within annual reporting periods beginning after December 15, 2017 along with the ability to early adopt as of the original effective date. We have identified our revenue streams and are in the process of evaluating the impact on our consolidated financial statements and internal accounting processes; however, as the majority of our revenues are derived from real estate lease contracts, as discussed in relation to ASU 2016-02 below. We will adopt ASU 2014-09 effective January 1, 2018 using the retrospective approach and the adoption will not have a material impact on our consolidated financial statements. Accounting Pronouncement Description Effective Date Effect on financial statements ASU 2016-02 Leases (Issued February 2016) ASU 2016-02 will supersede the existing guidance for lease accounting and states that companies will be required to recognize lease assets and lease liabilities on the balance sheet and disclose key information about leasing arrangements. ASU 2016-02 requires qualitative and quantitative disclosures to supplement the amounts recorded in the financial statements so that users can understand the nature of the entity’s leasing activities, including significant judgments and changes in judgments. Within ASU 2016-02 lessor accounting remained fairly unchanged. In adopting ASU 2016-02, companies will be required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. ASU 2016-02 is effective for the fiscal years beginning after December 15, 2018 with early adoption permitted. We will adopt ASU 2016-02 as of January 1, 2019 using the modified retrospective approach. We are currently evaluating the full impact ASU 2016-02 will have on our consolidated financial statements and disclosures, however, we anticipate there to be a significant increase in our assets and liabilities on our consolidated balance sheets due to the recognition of our current ground leases which represented rental expense of $7.6 million and have an average remaining term of 48.2 years for the year ended December 31, 2016. In addition, we anticipate there to be a material impact on our consolidated balance sheets and statements of operations as certain leasing costs will no longer qualify for capitalization over the life of the lease but instead be required to be expensed as incurred. ASU 2016-13 Financial Instruments Credit Losses: Measurement of Credit Losses on Financial Instruments (Issued June 2016) ASU 2016-13 is intended to improve financial reporting by requiring timelier recognition of credit losses on loans and other financial instruments that are not accounted for at fair value through net income, including loans held for investment, held-to-maturity debt securities, trade and other receivables, net investment in leases and other such commitments. ASU 2016-13 requires that financial statement assets measured at an amortized cost be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019 with early adoption permitted. We do not anticipate early adoption, however, we are evaluating the impact of adopting ASU 2016-13 on our consolidated financial statements. ASU 2016-15 Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments (Issued August 2016) ASU 2016-15 includes multiple provisions intended to clarify various aspects of cash flow presentation by making eight targeted changes to how cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017 with early adoption permitted. We will adopt ASU 2016-15 as of the year en ded December 31, 2017. We do not anticipate there to be a material impact, however, we are still evaluating the impact ASU 2016-15 will have on our consolidated financial statements. ASU 2016-18 Statement of Cash Flows: Restricted Cash (Issued November 2016) ASU 2016-18 requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU 2016-18 is effective for fiscal years beginning after December 15, 2017 with early adoption permitted. We will adopt ASU 2016-18 as of the year ended December 31, 2017. We do not anticipate there to be a material impact, however, we are still evaluating the impact ASU 2016-18 will have on our consolidated financial statements. ASU 2017-01 Business Combinations: Clarifying the Definition of a Business (Issued January 2017) ASU 2017-01 clarifies the definition of a business by adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including, but not limited to, acquisitions, disposals, goodwill and consolidation. ASU 2017-01 is effective for fiscal years beginning after December 15, 2017 with early adoption permitted. We anticipate early adoption, however, we are currently evaluating the full impact ASU 2017-01 will have on our consolidated financial statements and disclosures. We anticipate a vast majority of our acquisitions and dispositions to result in asset acquisitions and dispositions rather than business combinations and a significant portion of our acquisition-related expenses to be capitalized. The following table provides a brief description of recently adopted accounting pronouncements: Accounting Pronouncement Description Effective Date Effect on financial statements ASU 2015-02 Amendments to the Consolidation Analysis (Issued February 2015) ASU 2015-02 affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. The amendments in ASU 2015-02 affect the following areas: (i) limited partnerships and similar legal entities; (ii) evaluating fees paid to a decision maker or a service provider as a variable interest; (iii) the effect of fee arrangements on the primary beneficiary determination; (iv) the effect of related parties on the primary beneficiary determination; and (v) certain investment funds. ASU 2015-02 is effective for fiscal years beginning after December 15, 2015 with early adoption permitted. We adopted ASU 2015-02 as of January 1, 2016. The adoption had no material impact on our interests in joint venture arrangements. Accordingly, there was no material impact on previous or current reporting periods’ consolidated financial statements. ASU 2015-16 Business Combinations - Simplifying the Accounting for Measurement-Period Adjustment (Issued September 2015) ASU 2015-16 eliminates the requirement that an acquirer in a business combination has to account for measurement-period adjustments retrospectively. Instead, acquirers must recognize measurement-period adjustments during the period in which they determine the amount of the adjustment, including the effect on earnings of any amounts they would have recorded in previous periods if the accounting had been completed at the acquisition date. ASU 2015-16 is effective for fiscal years beginning after December 15, 2015 with early adoption permitted. We adopted ASU 2015-16 as of January 1, 2016. As a result of the adoption there was no material impact in the previous or current reporting periods’ consolidated financial statements. |
Investments in Real Estate (Tab
Investments in Real Estate (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Investments [Abstract] | |
Schedule of Purchase Price Allocation | The following investments were determined to be individually not significant, but significant on a collective basis. The purchase price allocation for each of our investments are preliminary and subject to change until allocations are finalized, which will be no later than 12 months from the date of acquisition. The preliminary allocations for these investments are set forth below in the aggregate for the years ended December 31, 2016 , 2015 and 2014 (in thousands): Year Ended December 31, 2016 2015 2014 Land $ 85,017 $ 19,828 $ 85,442 Building and improvements 559,930 246,911 325,290 In place leases 56,807 24,646 31,437 Below market leases (13,792 ) (8,360 ) (2,218 ) Above market leases 4,626 1,336 2,325 Below market leasehold interests 4,189 2,698 1,625 Above market leasehold interests (50 ) (7,725 ) — Above market debt, net (83 ) — (3,766 ) Interest rate swaps (779 ) — — Net assets acquired 695,865 279,334 440,135 Other, net 4,899 1,526 (605 ) Aggregate purchase price $ 700,764 $ 280,860 $ 439,530 |
Schedule of Weighted Average Lives of Acquired Intangible Assets and Liabilities | The acquired intangible assets and liabilities referenced above had weighted average lives of the following for the years ended December 31, 2016 , 2015 and 2014 (in years): Year Ended December 31, 2016 2015 2014 Acquired intangible assets 8.4 24.8 10.8 Acquired intangible liabilities 7.7 51.7 8.3 |
Schedule of Revenues and Net Income of Investments | We recognized the following revenues and net income for the years ended December 31, 2016 , 2015 and 2014 related to investments in 2016 , 2015 and 2014 , respectively (in thousands): Year Ended December 31, 2016 2015 2014 Revenues $ 44,458 $ 17,746 $ 15,528 Net income 6,592 5,190 3,161 |
Business Acquisition [Line Items] | |
Schedule of Unaudited Pro Forma Consolidated Results of Operations | The following unaudited pro forma consolidated results of operations of HTA for the years ended December 31, 2016 and 2015 , assumes that all 2016 investments occurred on January 1, 2015 and excludes $2.9 million of acquisition-related expenses (in thousands, except per share data): Year Ended December 31, 2016 2015 Revenues $ 488,159 $ 475,480 Net income attributable to common stockholders 53,713 42,439 Net income attributable to common stockholders per share - basic $ 0.38 $ 0.30 Net income attributable to common stockholders per share - diluted 0.37 0.29 The following unaudited pro forma consolidated results of operations of HTA for the years ended December 31, 2015 and 2014 , assumes that all 2015 investments occurred on January 1, 2014 and excludes $1.4 million of acquisition-related expenses (in thousands, except per share data): Year Ended December 31, 2015 2014 Revenues $ 418,499 $ 403,670 Net income attributable to common stockholders 36,275 50,973 Net income attributable to common stockholders per share - basic $ 0.29 $ 0.42 Net income attributable to common stockholders per share - diluted 0.28 0.42 The following unaudited pro forma consolidated results of operations of HTA for the year ended December 31, 2014 assumes that all 2014 investments occurred on January 1, 2013 and excludes $6.3 million of acquisition-related expenses (in thousands, except per share data): Year Ended December 31, 2014 Revenues $ 399,500 Net income attributable to common stockholders 56,290 Net income attributable to common stockholders per unit - basic $ 0.45 Net income attributable to common stockholders per unit - diluted 0.44 |
Healthcare Trust of America Holdings, LP (HTALP) | |
Business Acquisition [Line Items] | |
Schedule of Unaudited Pro Forma Consolidated Results of Operations | The following unaudited pro forma consolidated results of operations of HTALP for the years ended December 31, 2016 and 2015 , assumes that all 2016 investments occurred on January 1, 2015 and excludes $2.9 million of acquisition-related expenses (in thousands, except per unit data): Year Ended December 31, 2016 2015 Revenues $ 488,159 $ 475,480 Net income attributable to common unitholders 55,028 42,954 Net income attributable to common unitholders per unit - basic $ 0.38 $ 0.29 Net income attributable to common unitholders per unit - diluted 0.38 0.29 The following unaudited pro forma consolidated results of operations of HTALP for the years ended December 31, 2015 and 2014 , assumes that all 2015 investments occurred on January 1, 2014 and excludes $1.4 million of acquisition-related expenses (in thousands, except per unit data): Year Ended December 31, 2015 2014 Revenues $ 418,499 $ 403,670 Net income attributable to common unitholders 36,790 51,464 Net income attributable to common unitholders per unit - basic $ 0.29 $ 0.42 Net income attributable to common unitholders per unit - diluted 0.29 0.42 The following unaudited pro forma consolidated results of operations of HTALP for the year ended December 31, 2014 assumes that all 2014 investments occurred on January 1, 2013 and excludes $6.3 million of acquisition-related expenses (in thousands, except per unit data): Year Ended December 31, 2014 Revenues $ 399,500 Net income attributable to common unitholders 56,780 Net income attributable to common unitholders per unit - basic $ 0.45 Net income attributable to common unitholders per unit - diluted 0.45 |
Intangible Assets and Liabili34
Intangible Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Identified Intangibles, Net [Abstract] | |
Schedule of Intangible Assets and Liabilities | Intangible assets and liabilities consisted of the following as of December 31, 2016 and 2015 (in thousands, except weighted average remaining amortization): December 31, 2016 December 31, 2015 Balance Weighted Average Remaining Amortization in Years Balance Weighted Average Remaining Amortization in Years Assets: In place leases $ 294,597 9.7 $ 249,824 11.0 Tenant relationships 172,974 10.6 180,925 10.4 Above market leases 28,401 6.3 24,974 6.0 Below market leasehold interests 38,136 60.4 34,606 63.0 534,108 490,329 Accumulated amortization (256,305 ) (219,334 ) Total $ 277,803 16.1 $ 270,995 16.6 Liabilities: Below market leases $ 34,370 18.6 $ 22,240 27.2 Above market leasehold interests 11,632 53.0 11,582 53.7 46,002 33,822 Accumulated amortization (8,946 ) (7,211 ) Total $ 37,056 28.5 $ 26,611 38.0 |
Summary of Net Intangible Amortization | The following is a summary of the net intangible amortization for the years ended December 31, 2016 , 2015 and 2014 (in thousands): Year Ended December 31, 2016 2015 2014 Amortization recorded against rental income related to above or (below) market leases $ 255 $ 1,936 $ 2,096 Rental expense related to above or (below) market leasehold interests 453 414 457 Amortization expense related to in place leases and tenant relationships 52,213 47,444 48,465 |
Amortization of Intangible Assets and Liabilities | As of December 31, 2016 , the amortization of intangible assets and liabilities is as follows (in thousands): Year Assets Liabilities 2017 $ 48,338 $ 3,456 2018 41,081 3,333 2019 34,608 3,120 2020 26,321 2,721 2021 21,853 2,462 Thereafter 105,602 21,964 Total $ 277,803 $ 37,056 |
Receivables and Other Assets (T
Receivables and Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Receivables and Other Assets [Abstract] | |
Schedule of Receivables and Other Assets | Receivables and other assets consisted of the following as of December 31, 2016 and 2015 (in thousands): December 31, 2016 2015 Tenant receivables, net $ 8,722 $ 5,820 Other receivables, net 9,233 11,882 Deferred financing costs, net 4,198 5,524 Deferred leasing costs, net 20,811 17,923 Straight-line rent receivables, net 74,052 65,543 Prepaid expenses, deposits, equipment and other, net 55,904 34,584 Derivative financial instruments - interest rate swaps 541 427 Total $ 173,461 $ 141,703 |
Summary of Amortization of Deferred Leasing Costs and Deferred Financing Costs | The following is a summary of the amortization of deferred leasing costs and financing costs for the years ended December 31, 2016 , 2015 and 2014 (in thousands): Year Ended December 31, 2016 2015 2014 Amortization expense related to deferred leasing costs $ 4,647 $ 4,177 $ 3,319 Interest expense related to deferred financing costs (1) 1,326 1,339 1,810 (1) For the year ended December 31, 2014, amounts have been adjusted to reflect the retrospective presentation of the adoption of ASU 2015-03 and 2015-15 as of December 31, 2015. |
Schedule of Amortization of Deferred Leasing and Financing Costs | As of December 31, 2016 , the amortization of deferred leasing costs and financing costs is as follows (in thousands): Year Amount 2017 $ 5,678 2018 4,950 2019 4,325 2020 2,629 2021 1,943 Thereafter 5,484 Total $ 25,009 |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Schedule of Debt | Debt consisted of the following as of December 31, 2016 and 2015 (in thousands): December 31, 2016 2015 Unsecured revolving credit facility $ 88,000 $ 218,000 Unsecured term loans 500,000 455,000 Unsecured senior notes 950,000 600,000 Fixed rate mortgages loans 204,562 298,030 Variable rate mortgages loans 38,904 28,988 1,781,466 1,600,018 Deferred financing costs, net (9,527 ) (8,411 ) Discounts, net (3,034 ) (911 ) Total $ 1,768,905 $ 1,590,696 |
Summary of Debt Maturities and Scheduled Principal Debt Repayments | The following table summarizes the debt maturities and scheduled principal repayments of our indebtedness as of December 31, 2016 (in thousands): Year Amount 2017 $ 76,582 2018 4,722 2019 310,839 2020 137,795 2021 303,842 Thereafter 947,686 Total $ 1,781,466 |
Schedule of Amortization of Deferred Financing Costs | As of December 31, 2016 , the amortization of deferred financing costs is as follows (in thousands): Year Amount 2017 $ 1,847 2018 1,775 2019 1,780 2020 1,338 2021 1,060 Thereafter 1,727 Total $ 9,527 |
Derivative Financial Instrume37
Derivative Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instrument Assets and (Liabilities) Held | The following table lists the derivative financial instrument assets and (liabilities) held by us as of December 31, 2016 (in thousands): Notional Amount Index Rate Fair Value Instrument Maturity $ 50,000 LIBOR 1.39 % $ 33 Swap 7/17/2019 105,000 LIBOR 1.24 486 Swap 7/17/2019 25,272 LIBOR + 1.45% 4.98 (1,551 ) Swap 5/1/2020 6,083 LIBOR + 2.25% 4.04 22 Swap 1/1/2023 4,356 LIBOR + 0.49% 3.52 (369 ) Swap 12/1/2023 The following table lists the derivative financial instrument assets and (liabilities) held by us as of December 31, 2015 (in thousands): Notional Amount Index Rate Fair Value Instrument Maturity $ 100,000 LIBOR 0.86 % $ (142 ) Swap 6/15/2016 50,000 LIBOR 1.39 (71 ) Swap 7/17/2019 105,000 LIBOR 1.24 427 Swap 7/17/2019 26,092 LIBOR + 1.45% 4.98 (2,157 ) Swap 5/1/2020 |
Gross Fair Value of Derivative Financial Instruments | As of December 31, 2016 and 2015 , the gross fair value of our derivative financial instruments was as follows (in thousands): Asset Derivatives Liability Derivatives Fair Value Fair Value Derivatives Not Designated as Hedging Instruments: Balance Sheet Location December 31, 2016 December 31, 2015 Balance Sheet Location December 31, 2016 December 31, 2015 Interest rate swaps Receivables and other assets $ 541 $ 427 Derivative financial instruments $ 1,920 $ 2,370 |
Schedule of Derivatives Subject to Master Netting Arrangements | There were no derivatives offset in our accompanying consolidated balance sheets as of December 31, 2016 and 2015 . As of December 31, 2016 and 2015 , we had derivatives subject to enforceable master netting arrangements which allowed for net cash settlement with the respective counterparties (in thousands): December 31, 2016 December 31, 2015 Gross Amounts Amounts Subject to Enforceable Master Netting Arrangements Net Amounts Gross Amounts Amounts Subject to Enforceable Master Netting Arrangements Net Amounts Asset derivatives $ 541 $ — $ 541 $ 427 $ (427 ) $ — Liability derivatives 1,920 — 1,920 2,370 (427 ) 1,943 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Lease Obligations Under Operating Leases | Future minimum lease obligations under non-cancelable ground leases and other operating leases as of December 31, 2016 are as follows (in thousands): Year Amount 2017 $ 6,709 2018 6,708 2019 6,793 2020 6,881 2021 8,027 Thereafter 532,275 Total $ 567,393 |
Stockholders' Equity and Part39
Stockholders' Equity and Partners' Capital (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Schedule of Restricted Common Stock Activity | The following is a summary of our restricted common stock activity during the years ended December 31, 2016 and 2015 : December 31, 2016 December 31, 2015 Restricted Common Stock Weighted Average Grant Date Fair Value Restricted Common Stock Weighted Average Grant Date Fair Value Beginning balance 487,850 $ 23.13 463,050 $ 20.90 Granted 417,110 29.82 229,281 26.52 Vested (237,999 ) 23.28 (176,730 ) 21.48 Forfeited (26,091 ) 26.09 (27,751 ) 23.03 Ending balance 640,870 $ 27.36 487,850 $ 23.13 |
Fair Value of Financial Instr40
Fair Value of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The table below presents our assets and liabilities measured at fair value on a recurring basis as of December 31, 2016 , aggregated by the applicable level in the fair value hierarchy (in thousands): Level 1 Level 2 Level 3 Total Assets: Derivative financial instruments $ — $ 541 $ — $ 541 Liabilities: Derivative financial instruments $ — $ 1,920 $ — $ 1,920 The table below presents our assets and liabilities measured at fair value on a recurring basis as of December 31, 2015 , aggregated by the applicable level in the fair value hierarchy (in thousands): Level 1 Level 2 Level 3 Total Assets: Derivative financial instruments $ — $ 427 $ — $ 427 Liabilities: Derivative financial instruments $ — $ 2,370 $ — $ 2,370 |
Schedule of Fair Value, Assets Measured on Non-Recurring Basis | The table below presents our assets measured at fair value on a non-recurring basis as of December 31, 2016 , aggregated by the applicable level in the fair value hierarchy (in thousands): Level 1 Level 2 Level 3 Total Assets: MOBs (1) $ — $ 8,191 $ — $ 8,191 (1) During the year ended December 31, 2016, we recognized impairment charges of $1.3 million and $1.8 million to the carrying value of two MOBs. The estimated fair value as of December 31, 2016 for these MOBs was based upon a pending sales agreement and real estate market comparables, respectively. The table below presents our assets measured at fair value on a non-recurring basis as of December 31, 2015 , aggregated by the applicable level in the fair value hierarchy (in thousands): Level 1 Level 2 Level 3 Total Assets: MOB (1) $ — $ 547 $ — $ 547 (1) During the year ended December 31, 2015, we recognized a $0.9 million impairment charge to the carrying value of an MOB. The estimated fair value as of December 31, 2015 was based upon a pending sales agreement on this MOB. |
Per Share Data of HTA (Tables)
Per Share Data of HTA (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
HTA, Inc. | |
Earnings Per Share | |
Schedule of Earnings per Share, Basic and Diluted | The following is the reconciliation of the numerator and denominator used in basic and diluted earnings per share of HTA for the years ended December 31, 2016 , 2015 and 2014 (in thousands, except per share data): Year Ended December 31, 2016 2015 2014 Numerator: Net income $ 47,345 $ 33,557 $ 45,994 Net income attributable to noncontrolling interests (1,433 ) (626 ) (623 ) Net income attributable to common stockholders $ 45,912 $ 32,931 $ 45,371 Denominator: Weighted average shares outstanding - basic 136,620 126,074 119,904 Dilutive shares 3,639 1,930 1,264 Weighted average shares outstanding - diluted 140,259 128,004 121,168 Earnings per common share - basic Net income attributable to common stockholders $ 0.34 $ 0.26 $ 0.38 Earnings per common share - diluted Net income attributable to common stockholders $ 0.33 $ 0.26 $ 0.37 |
Per Unit Data of HTALP (Tables)
Per Unit Data of HTALP (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Healthcare Trust of America Holdings, LP (HTALP) | |
Earnings Per Share | |
Schedule of Earnings per Unit, Basic and Diluted | The following is the reconciliation of the numerator and denominator used in basic and diluted earnings per unit of HTALP for the years ended December 31, 2016 , 2015 and 2014 (in thousands, except per unit data): Year Ended December 31, 2016 2015 2014 Numerator: Net income $ 47,345 $ 33,557 $ 45,994 Net income attributable to noncontrolling interests (118 ) (112 ) (133 ) Net income attributable to common unitholders $ 47,227 $ 33,445 $ 45,861 Denominator: Weighted average units outstanding - basic 140,259 128,079 121,340 Dilutive units — — — Weighted average units outstanding - diluted 140,259 128,079 121,340 Earnings per common unit - basic: Net income attributable to common unitholders $ 0.34 $ 0.26 $ 0.38 Earnings per common unit - diluted: Net income attributable to common unitholders $ 0.34 $ 0.26 $ 0.38 |
Supplemental Cash Flow Inform43
Supplemental Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Supplemental Cash Flow Elements [Abstract] | |
Schedule of Supplemental Cash Flow Information | The following is the supplemental cash flow information for the years ended December 31, 2016 , 2015 and 2014 (in thousands): Year Ended December 31, 2016 2015 2014 Interest paid $ 50,883 $ 52,688 $ 42,666 Income taxes paid 1,059 996 889 Supplemental Disclosure of Noncash Investing and Financing Activities: Accrued capital expenditures $ 5,092 $ 5,696 $ 3,853 Debt and interest rate swaps assumed in connection with acquisitions 28,163 — 103,980 Dividend distributions declared, but not paid 43,867 37,886 36,275 Issuance of operating partnership units in connection with acquisitions 71,754 — 16,960 Note receivable included in the consideration of an acquisition — — 11,924 Notes receivable included in the consideration of dispositions 12,737 — — Redeemable noncontrolling interest assumed in connection with an acquisition 4,773 — — Redemption of noncontrolling interest 5,709 — — |
Tax Treatment of Dividends of44
Tax Treatment of Dividends of HTA (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Summary of Income Tax Treatment of Distributions | The following is the income tax treatment of dividend distributions for the years ended December 31, 2016 , 2015 and 2014 (in per share): Year Ended December 31, 2016 2015 2014 Ordinary income $ 0.8970 $ 0.6634 $ 0.6850 Return of capital 0.2880 0.2116 0.4700 Capital gain 0.0000 0.0000 0.0000 Total $ 1.1850 $ 0.8750 $ 1.1550 |
Future Minimum Rent (Tables)
Future Minimum Rent (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Leases [Abstract] | |
Schedule of Future Minimum Rental Income for Operating Leases | Future minimum rent contractually due under operating leases, excluding tenant reimbursements of certain costs, as of December 31, 2016 is as follows (in thousands): Year Amount 2017 $ 373,903 2018 331,499 2019 299,420 2020 260,783 2021 230,492 Thereafter 747,109 Total $ 2,243,206 |
Selected Quarterly Financial 46
Selected Quarterly Financial Data of HTA (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
HTA, Inc. | |
Selected Quarterly Financial Data [Line Items] | |
Schedule of Quarterly Financial Data | The following is the selected quarterly financial data of HTA for 2016 and 2015 . We believe that all necessary adjustments, consisting of only normal recurring adjustments, have been included (in thousands, except per share data). Quarter Ended (1) 2016 March 31 June 30 September 30 December 31 Revenues $ 107,315 $ 113,234 $ 118,340 $ 122,039 Net income 10,036 13,516 6,639 17,154 Net income attributable to common stockholders 9,860 13,074 6,427 16,551 Earnings per common share - basic: Net income attributable to common stockholders $ 0.08 $ 0.10 $ 0.05 $ 0.12 Earnings per common share - diluted: Net income attributable to common stockholders $ 0.08 $ 0.09 $ 0.04 $ 0.11 (1) The sum of the individual quarterly amounts may not agree to the annual amounts included in the accompanying consolidated statements of operations due to rounding. Quarter Ended (1) 2015 March 31 June 30 September 30 December 31 Revenues $ 98,520 $ 99,311 $ 103,942 $ 102,049 Net income 6,942 9,488 6,554 10,573 Net income attributable to common stockholders 6,804 9,292 6,463 10,372 Earnings per common share - basic: Net income attributable to common stockholders $ 0.05 $ 0.07 $ 0.05 $ 0.08 Earnings per common share - diluted: Net income attributable to common stockholders $ 0.05 $ 0.07 $ 0.05 $ 0.08 (1) The sum of the individual quarterly amounts may not agree to the annual amounts included in the accompanying consolidated statements of operations due to rounding. |
Selected Quarterly Financial 47
Selected Quarterly Financial Data of HTALP (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Healthcare Trust of America Holdings, LP (HTALP) | |
Selected Quarterly Financial Data [Line Items] | |
Schedule of Quarterly Financial Data | The following is the selected quarterly financial data of HTALP for 2016 and 2015 . We believe that all necessary adjustments, consisting of only normal recurring adjustments, have been included (in thousands, except per unit data). Quarter Ended (1) 2016 March 31 June 30 September 30 December 31 Revenues $ 107,315 $ 113,234 $ 118,340 $ 122,039 Net income 10,036 13,516 6,639 17,154 Net income attributable to common unitholders 10,005 13,520 6,638 17,064 Earnings per common unit - basic: Net income attributable to common unitholders $ 0.08 $ 0.10 $ 0.05 $ 0.12 Earnings per common unit - diluted: Net income attributable to common unitholders $ 0.08 $ 0.10 $ 0.05 $ 0.12 (1) The sum of the individual quarterly amounts may not agree to the annual amounts included in the accompanying consolidated statements of operations due to rounding. Quarter Ended (1) 2015 March 31 June 30 September 30 December 31 Revenues $ 98,520 $ 99,311 $ 103,942 $ 102,049 Net income 6,942 9,488 6,554 10,573 Net income attributable to common unitholders 6,909 9,464 6,534 10,538 Earnings per common unit - basic: Net income attributable to common unitholders $ 0.05 $ 0.07 $ 0.05 $ 0.08 Earnings per common unit - diluted: Net income attributable to common unitholders $ 0.05 $ 0.07 $ 0.05 $ 0.08 (1) The sum of the individual quarterly amounts may not agree to the annual amounts included in the accompanying consolidated statements of operations due to rounding. |
Organization and Description 48
Organization and Description of Business (Details) ft² in Millions, $ in Billions | Dec. 15, 2014 | Dec. 31, 2016USD ($)ft²marketStates |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
General partnership interest percentage | 97.00% | |
Purchased property inception to current date | $ | $ 4.2 | |
Gross leasable area of real estate in portfolio (in square feet) | ft² | 17.7 | |
Percentage of gross leasable area, on-campus/aligned | 97.00% | |
Number of states in which the Company operates (in states) | States | 31 | |
Maximum state gross leasable area (as a percent) | 13.00% | |
Concentration Risk [Line Items] | ||
Percentage of gross leasable area located in the top 75 Metro statistical areas | 92.00% | |
Reverse stock split conversion ratio | 0.5 | |
Minimum | ||
Concentration Risk [Line Items] | ||
Number of markets where the Company is concentrated | 20 | |
Maximum | ||
Concentration Risk [Line Items] | ||
Number of markets where the Company is concentrated | 25 |
Summary of Significant Accoun49
Summary of Significant Accounting Policies - Textuals (Details) | 12 Months Ended | ||
Dec. 31, 2016USD ($)segmentshares | Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($)shares | |
Accounting Policies [Line Items] | |||
Allowance for doubtful accounts receivable | $ 2,000,000 | $ 2,200,000 | $ 2,000,000 |
Bad debt expense | $ 846,000 | 828,000 | 312,000 |
Real estate held for sale, period of sale | 1 year | ||
Real estate held for sale | $ 0 | 0 | 0 |
Impairment of real estate | 3,080,000 | 2,581,000 | 0 |
Impairment of real estate notes receivable | 0 | 0 | 0 |
Assets net tax basis in excess of carrying value | 365,100,000 | ||
Cash uninsured amount | $ 15,300,000 | ||
Number of reportable segments | segment | 1 | ||
Rental | $ 143,751,000 | 123,390,000 | 113,508,000 |
Ground Lease | |||
Accounting Policies [Line Items] | |||
Rental | $ 7,600,000 | ||
Lease, average remaining term (in years) | 48 years 2 months 12 days | ||
Minimum | |||
Accounting Policies [Line Items] | |||
Percentage of income required to be distributed as dividends (at least) | 90.00% | ||
Building | Maximum | |||
Accounting Policies [Line Items] | |||
Property, plant and equipment useful life | 39 years | ||
Tenant Improvements | Maximum | |||
Accounting Policies [Line Items] | |||
Property, plant and equipment useful life | 193 months | ||
Tenant Improvements | Minimum | |||
Accounting Policies [Line Items] | |||
Property, plant and equipment useful life | 1 month | ||
Furniture, Fixtures and Equipment | |||
Accounting Policies [Line Items] | |||
Property, plant and equipment useful life | 5 years | ||
Building and Improvements | |||
Accounting Policies [Line Items] | |||
Depreciation expense | $ 118,700,000 | $ 101,200,000 | $ 87,900,000 |
Healthcare Trust of America Holdings, LP (HTALP) | |||
Accounting Policies [Line Items] | |||
Limited partner's capital, units issued | shares | 4,323,095 | 1,929,942 | 2,155,000 |
Limited partner's capital, units outstanding | shares | 4,323,095 | 1,929,942 | 2,155,000 |
Bad debt expense | $ 846,000 | $ 828,000 | $ 312,000 |
Impairment of real estate | 3,080,000 | 2,581,000 | 0 |
Rental | $ 143,751,000 | $ 123,390,000 | $ 113,508,000 |
Investments in Real Estate - Ac
Investments in Real Estate - Acquisitions (Details) - USD ($) $ in Thousands | 2 Months Ended | 12 Months Ended | ||
Feb. 21, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Business Acquisition [Line Items] | ||||
Closing costs | $ 2,900 | |||
Mortgage loans assumed as part of acquisitions | 27,500 | |||
Aggregate gross purchase price | 39,500 | $ 35,700 | ||
Business Acquisition, Purchase Price Allocation, Real Estate [Abstract] | ||||
Land | 85,017 | 19,828 | $ 85,442 | |
Building and improvements | 559,930 | 246,911 | 325,290 | |
In place leases | 56,807 | 24,646 | 31,437 | |
Below market leases | (13,792) | (8,360) | (2,218) | |
Above market leases | 4,626 | 1,336 | 2,325 | |
Below market leasehold interests | 4,189 | 2,698 | 1,625 | |
Above market leasehold interests | (50) | (7,725) | 0 | |
Above market debt, net | (83) | 0 | (3,766) | |
Interest rate swaps | (779) | 0 | 0 | |
Net assets acquired | 695,865 | 279,334 | 440,135 | |
Other, net | 4,899 | 1,526 | (605) | |
Aggregate purchase price | $ 700,764 | $ 280,860 | $ 439,530 | |
Subsequent Event | ||||
Business Acquisition [Line Items] | ||||
Aggregate gross purchase price | $ 13,600 | |||
Healthcare Trust of America Holdings, LP (HTALP) | ||||
Business Acquisition [Line Items] | ||||
Market value of operating partnership units issued at the time of of issuance | 2,650,409 | |||
Market value at time of issuance of operating partnership issued with acquisitions | $ 71,800 |
Investments in Real Estate - We
Investments in Real Estate - Weighted Average Lives (Details) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Investments [Abstract] | |||
Acquired intangible assets | 8 years 4 months 24 days | 24 years 9 months 18 days | 10 years 10 months 2 days |
Acquired intangible liabilities | 7 years 8 months 12 days | 51 years 8 months 12 days | 8 years 3 months 22 days |
Investments in Real Estate - Re
Investments in Real Estate - Revenue and Gains Since Acquisition (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Investments [Abstract] | |||
Revenues | $ 44,458 | $ 17,746 | $ 15,528 |
Net income | $ 6,592 | $ 5,190 | $ 3,161 |
Investments in Real Estate - Pr
Investments in Real Estate - Pro Forma (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Business Acquisition [Line Items] | |||
Acquisition related costs | $ 2,900 | ||
2016 Acquisitions | |||
Business Acquisition [Line Items] | |||
Acquisition related costs | 2,900 | ||
Revenues | 488,159 | $ 475,480 | |
Net income attributable to common stockholders/unitholders | $ 53,713 | $ 42,439 | |
Net income attributable to common stockholders/unitholders per unit/share - basic (usd per share) | $ 0.38 | $ 0.30 | |
Net income attributable to common stockholders/unitholders per unit/share - diluted (usd per share) | $ 0.37 | $ 0.29 | |
2016 Acquisitions | Healthcare Trust of America Holdings, LP (HTALP) | |||
Business Acquisition [Line Items] | |||
Acquisition related costs | $ 2,900 | ||
Revenues | 488,159 | $ 475,480 | |
Net income attributable to common stockholders/unitholders | $ 55,028 | $ 42,954 | |
Net income attributable to common stockholders/unitholders per unit/share - basic (usd per share) | $ 0.38 | $ 0.29 | |
Net income attributable to common stockholders/unitholders per unit/share - diluted (usd per share) | $ 0.38 | $ 0.29 | |
2015 Acquisitions | |||
Business Acquisition [Line Items] | |||
Acquisition related costs | $ 1,400 | ||
Revenues | 418,499 | $ 403,670 | |
Net income attributable to common stockholders/unitholders | $ 36,275 | $ 50,973 | |
Net income attributable to common stockholders/unitholders per unit/share - basic (usd per share) | $ 0.29 | $ 0.42 | |
Net income attributable to common stockholders/unitholders per unit/share - diluted (usd per share) | $ 0.28 | $ 0.42 | |
2015 Acquisitions | Healthcare Trust of America Holdings, LP (HTALP) | |||
Business Acquisition [Line Items] | |||
Acquisition related costs | $ 1,400 | ||
Revenues | 418,499 | $ 403,670 | |
Net income attributable to common stockholders/unitholders | $ 36,790 | $ 51,464 | |
Net income attributable to common stockholders/unitholders per unit/share - basic (usd per share) | $ 0.29 | $ 0.42 | |
Net income attributable to common stockholders/unitholders per unit/share - diluted (usd per share) | $ 0.29 | $ 0.42 | |
2014 Acquisitions | |||
Business Acquisition [Line Items] | |||
Acquisition related costs | $ 6,300 | ||
Revenues | 399,500 | ||
Net income attributable to common stockholders/unitholders | $ 56,290 | ||
Net income attributable to common stockholders/unitholders per unit/share - basic (usd per share) | $ 0.45 | ||
Net income attributable to common stockholders/unitholders per unit/share - diluted (usd per share) | $ 0.44 | ||
2014 Acquisitions | Healthcare Trust of America Holdings, LP (HTALP) | |||
Business Acquisition [Line Items] | |||
Acquisition related costs | $ 6,300 | ||
Revenues | 399,500 | ||
Net income attributable to common stockholders/unitholders | $ 56,780 | ||
Net income attributable to common stockholders/unitholders per unit/share - basic (usd per share) | $ 0.45 | ||
Net income attributable to common stockholders/unitholders per unit/share - diluted (usd per share) | $ 0.45 |
Impairment and Dispositions (De
Impairment and Dispositions (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($)building | Dec. 31, 2015USD ($)building | Dec. 31, 2014USD ($)building | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Number of buildings disposed | building | 6 | 6 | |
Aggregate gross sales price of MOBs disposed | $ 39,500 | $ 35,700 | |
Gain from sale of dispositions of properties | 8,966 | 152 | $ 27,894 |
Impairment charge on medical office building marketed for sale | $ 3,080 | 2,581 | $ 0 |
Number of assets impaired | building | 2 | ||
Impairment on properties disposed of | 1,700 | ||
Impairment on property being marketed for sale | $ 900 | ||
Number of dispositions of portfolios of medical office buildings | building | 3 | ||
Aggregate gross sale sprice of disposed portfolios of medical office buildings | $ 82,900 | ||
Notes Receivable | Six Senior Care Facilities | |||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||
Mortgage loans on real estate | $ 12,700 |
Intangible Assets and Liabili55
Intangible Assets and Liabilities - Summary of Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Assets: | ||
Gross | $ 534,108 | $ 490,329 |
Accumulated amortization | (256,305) | (219,334) |
Total | $ 277,803 | $ 270,995 |
Weighted Average Remaining Amortization in Years | 16 years 1 month 6 days | 16 years 7 months 6 days |
Liabilities: | ||
Gross | $ 46,002 | $ 33,822 |
Accumulated amortization | (8,946) | (7,211) |
Total | $ 37,056 | $ 26,611 |
Weighted Average Remaining Amortization in Years | 28 years 6 months | 38 years |
Below market leases | ||
Liabilities: | ||
Gross | $ 34,370 | $ 22,240 |
Weighted Average Remaining Amortization in Years | 18 years 7 months 6 days | 27 years 2 months 12 days |
Above market leasehold interests | ||
Liabilities: | ||
Gross | $ 11,632 | $ 11,582 |
Weighted Average Remaining Amortization in Years | 53 years | 53 years 8 months 12 days |
In place leases | ||
Assets: | ||
Gross | $ 294,597 | $ 249,824 |
Weighted Average Remaining Amortization in Years | 9 years 8 months 12 days | 11 years |
Tenant relationships | ||
Assets: | ||
Gross | $ 172,974 | $ 180,925 |
Weighted Average Remaining Amortization in Years | 10 years 7 months 6 days | 10 years 4 months 24 days |
Above market leases | ||
Assets: | ||
Gross | $ 28,401 | $ 24,974 |
Weighted Average Remaining Amortization in Years | 6 years 3 months 18 days | 6 years |
Below market leasehold interests | ||
Assets: | ||
Gross | $ 38,136 | $ 34,606 |
Weighted Average Remaining Amortization in Years | 60 years 4 months 24 days | 63 years |
Intangible Assets and Liabili56
Intangible Assets and Liabilities - Summary of Intangible Amortization (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Amortization recorded against rental income related to above or (below) market leases | |||
Schedule of Finite-Lived Intangible Assets and Liabilities [Line Items] | |||
Amortization of intangible assets and liabilities | $ 255 | $ 1,936 | $ 2,096 |
Rental expense related to above or (below) market leasehold interests | |||
Schedule of Finite-Lived Intangible Assets and Liabilities [Line Items] | |||
Amortization of intangible assets and liabilities | 453 | 414 | 457 |
Amortization expense related to in place leases and tenant relationships | |||
Schedule of Finite-Lived Intangible Assets and Liabilities [Line Items] | |||
Amortization of intangible assets and liabilities | $ 52,213 | $ 47,444 | $ 48,465 |
Intangible Assets and Liabili57
Intangible Assets and Liabilities - Future Amortization of Intangibles (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Assets | ||
2,017 | $ 48,338 | |
2,018 | 41,081 | |
2,019 | 34,608 | |
2,020 | 26,321 | |
2,021 | 21,853 | |
Thereafter | 105,602 | |
Total | 277,803 | $ 270,995 |
Liabilities | ||
2,017 | 3,456 | |
2,018 | 3,333 | |
2,019 | 3,120 | |
2,020 | 2,721 | |
2,021 | 2,462 | |
Thereafter | 21,964 | |
Total | $ 37,056 | $ 26,611 |
Receivables and Other Assets -
Receivables and Other Assets - Schedule of Receivables and Other Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Receivables and Other Assets [Abstract] | ||
Tenant receivables, net | $ 8,722 | $ 5,820 |
Other receivables, net | 9,233 | 11,882 |
Deferred financing costs, net | 4,198 | 5,524 |
Deferred leasing costs, net | 20,811 | 17,923 |
Straight-line rent receivables, net | 74,052 | 65,543 |
Prepaid expenses, deposits, equipment and other, net | 55,904 | 34,584 |
Derivative financial instruments - interest rate swaps | 541 | 427 |
Total | $ 173,461 | $ 141,703 |
Receivables and Other Assets 59
Receivables and Other Assets - Amortization (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Receivables and Other Assets [Abstract] | |||
Amortization expense related to deferred leasing costs | $ 4,647 | $ 4,177 | $ 3,319 |
Interest expense related to deferred financing costs | $ 1,326 | $ 1,339 | $ 1,810 |
Receivables and Other Assets 60
Receivables and Other Assets - Amortization of Deferred Leasing and Financing Costs (Details) $ in Thousands | Dec. 31, 2016USD ($) |
Receivables and Other Assets [Abstract] | |
2,017 | $ 5,678 |
2,018 | 4,950 |
2,019 | 4,325 |
2,020 | 2,629 |
2,021 | 1,943 |
Thereafter | 5,484 |
Total | $ 25,009 |
Debt - Schedule of Debt (Detail
Debt - Schedule of Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Debt Instrument | ||
Total debt, gross | $ 1,781,466 | $ 1,600,018 |
Deferred financing costs, net | (9,527) | (8,411) |
Discounts, net | (3,034) | (911) |
Total | 1,768,905 | 1,590,696 |
Unsecured term loans | ||
Debt Instrument | ||
Total debt, gross | 500,000 | 455,000 |
Unsecured senior notes | ||
Debt Instrument | ||
Total debt, gross | 950,000 | 600,000 |
Mortgages | Fixed rate mortgages loans | ||
Debt Instrument | ||
Total debt, gross | 204,562 | 298,030 |
Mortgages | Variable rate mortgages loans | ||
Debt Instrument | ||
Total debt, gross | 38,904 | 28,988 |
Unsecured revolving credit facility | ||
Debt Instrument | ||
Line of credit facility, amount outstanding | $ 88,000 | $ 218,000 |
Debt - Textuals (Details)
Debt - Textuals (Details) - USD ($) | 12 Months Ended | ||||
Dec. 31, 2016 | Sep. 26, 2016 | Jul. 12, 2016 | Dec. 31, 2015 | Feb. 11, 2015 | |
Debt Instrument | |||||
Outstanding amount | $ 1,781,466,000 | $ 1,600,018,000 | |||
Unsecured term loans | |||||
Debt Instrument | |||||
Outstanding amount | $ 500,000,000 | 455,000,000 | |||
Unsecured term loans | $300.0 Million Unsecured Term Loan | |||||
Debt Instrument | |||||
Basis spread on variable rate (as a percent) | 1.15% | ||||
Outstanding amount | $ 300,000,000 | ||||
Weighted average interest rate with interest rate swap impact (as a percent) | 1.90% | ||||
Unsecured credit agreement, extension option period | 1 year | ||||
Unsecured term loans | $200.0 Million Unsecured Term Loan | |||||
Debt Instrument | |||||
Basis spread on variable rate (as a percent) | 1.65% | ||||
Weighted average interest rate with interest rate swap impact (as a percent) | 2.82% | ||||
Debt instrument, face amount | $ 200,000,000 | $ 200,000,000 | |||
Unsecured term loans | $155.0 Million Unsecured Term Loan | |||||
Debt Instrument | |||||
Debt instrument, face amount | $ 155,000,000 | ||||
Unsecured senior notes | |||||
Debt Instrument | |||||
Outstanding amount | 950,000,000 | $ 600,000,000 | |||
Unsecured senior notes | $300.0 Million Unsecured Senior Notes due 2021 | |||||
Debt Instrument | |||||
Debt instrument, face amount | $ 300,000,000 | ||||
Debt instrument, stated interest rate (as a percent) | 3.38% | ||||
Debt instrument, percentage of principal amount received (as a percent) | 99.21% | ||||
Debt instrument, effective interest rate (as a percent) | 3.50% | ||||
Unsecured senior notes | $300.0 Million Unsecured Senior Notes due 2023 | |||||
Debt Instrument | |||||
Debt instrument, face amount | $ 300,000,000 | ||||
Debt instrument, stated interest rate (as a percent) | 3.70% | ||||
Debt instrument, percentage of principal amount received (as a percent) | 99.19% | ||||
Debt instrument, effective interest rate (as a percent) | 3.80% | ||||
Unsecured senior notes | $350.0 Million Unsecured Senior Notes due 2026 | |||||
Debt Instrument | |||||
Debt instrument, face amount | $ 350,000,000 | $ 350,000,000 | |||
Debt instrument, stated interest rate (as a percent) | 3.50% | ||||
Debt instrument, percentage of principal amount received (as a percent) | 99.72% | ||||
Debt instrument, effective interest rate (as a percent) | 3.53% | ||||
Mortgages | |||||
Debt Instrument | |||||
Weighted average interest rate with interest rate swap impact (as a percent) | 5.44% | ||||
Weighted average interest rate (as a percent) | 5.07% | ||||
Minimum | Unsecured term loans | $300.0 Million Unsecured Term Loan | |||||
Debt Instrument | |||||
Basis spread on variable rate (as a percent) | 0.90% | ||||
Minimum | Unsecured term loans | $200.0 Million Unsecured Term Loan | |||||
Debt Instrument | |||||
Basis spread on variable rate (as a percent) | 1.50% | ||||
Minimum | Mortgages | |||||
Debt Instrument | |||||
Debt instrument, effective interest rate (as a percent) | 2.20% | ||||
Maximum | Unsecured term loans | $300.0 Million Unsecured Term Loan | |||||
Debt Instrument | |||||
Basis spread on variable rate (as a percent) | 1.80% | ||||
Maximum | Unsecured term loans | $200.0 Million Unsecured Term Loan | |||||
Debt Instrument | |||||
Basis spread on variable rate (as a percent) | 2.45% | ||||
Maximum | Mortgages | |||||
Debt Instrument | |||||
Debt instrument, effective interest rate (as a percent) | 6.39% | ||||
Unsecured revolving credit facility | |||||
Debt Instrument | |||||
Line of credit facility, borrowing capacity | $ 850,000,000 | ||||
Basis spread on variable rate (as a percent) | 1.05% | ||||
Line of credit facility, commitment fee percentage (as a percent) | 0.20% | ||||
Unsecured revolving credit facility | Minimum | |||||
Debt Instrument | |||||
Basis spread on variable rate (as a percent) | 0.88% | ||||
Line of credit facility, commitment fee percentage (as a percent) | 0.13% | ||||
Unsecured revolving credit facility | Maximum | |||||
Debt Instrument | |||||
Basis spread on variable rate (as a percent) | 1.55% | ||||
Line of credit facility, commitment fee percentage (as a percent) | 0.30% |
Debt - Principal Maturity Sched
Debt - Principal Maturity Schedule (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Debt Disclosure [Abstract] | ||
2,017 | $ 76,582 | |
2,018 | 4,722 | |
2,019 | 310,839 | |
2,020 | 137,795 | |
2,021 | 303,842 | |
Thereafter | 947,686 | |
Total | $ 1,781,466 | $ 1,600,018 |
Debt - Amortization of Deferred
Debt - Amortization of Deferred Financing Costs (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Debt Disclosure [Abstract] | ||
2,017 | $ 1,847 | |
2,018 | 1,775 | |
2,019 | 1,780 | |
2,020 | 1,338 | |
2,021 | 1,060 | |
Thereafter | 1,727 | |
Total | $ 9,527 | $ 8,411 |
Derivative Financial Instrume65
Derivative Financial Instruments - Table of Derivative Financial Instruments (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Swap at 0.86% | ||
Derivative | ||
Notional Amount | $ 100,000 | |
Index | LIBOR | |
Rate | 0.86% | |
Fair Value (Liability) | $ (142) | |
Swap at 1.39% | ||
Derivative | ||
Notional Amount | $ 50,000 | $ 50,000 |
Index | LIBOR | LIBOR |
Rate | 1.39% | 1.39% |
Fair Value, Asset | $ 33 | |
Fair Value (Liability) | $ (71) | |
Swap at 1.24% | ||
Derivative | ||
Notional Amount | $ 105,000 | $ 105,000 |
Index | LIBOR | LIBOR |
Rate | 1.24% | 1.24% |
Fair Value, Asset | $ 486 | $ 427 |
Swap at 4.98% | ||
Derivative | ||
Notional Amount | $ 25,272 | $ 26,092 |
Index | LIBOR + 1.45% | LIBOR + 1.45% |
Rate | 4.98% | 4.98% |
Fair Value (Liability) | $ (1,551) | $ (2,157) |
Basis spread on variable rate | 1.45% | 1.45% |
Swap at 4.04% | ||
Derivative | ||
Notional Amount | $ 6,083 | |
Index | LIBOR + 2.25% | |
Rate | 4.04% | |
Fair Value, Asset | $ 22 | |
Basis spread on variable rate | 2.25% | |
Swap at 3.52% | ||
Derivative | ||
Notional Amount | $ 4,356 | |
Index | LIBOR + 0.49% | |
Rate | 3.52% | |
Fair Value (Liability) | $ (369) | |
Basis spread on variable rate | 0.49% |
Derivative Financial Instrume66
Derivative Financial Instruments - Derivative Instruments Fair Value Table (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Derivatives, Fair Value | ||
Asset Derivatives | $ 541 | $ 427 |
Liability Derivatives | 1,920 | 2,370 |
Interest rate swaps | Not Designated as Hedging Instrument | Receivables and other assets | ||
Derivatives, Fair Value | ||
Asset Derivatives | 541 | 427 |
Interest rate swaps | Not Designated as Hedging Instrument | Derivative financial instruments | ||
Derivatives, Fair Value | ||
Liability Derivatives | $ 1,920 | $ 2,370 |
Derivative Financial Instrume67
Derivative Financial Instruments - Derivative Offsetting (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Asset derivatives | ||
Asset Derivatives | $ 541 | $ 427 |
Amounts Subject to Enforceable Master Netting Arrangements | 0 | (427) |
Net Amounts | 541 | 0 |
Liability derivatives | ||
Liability Derivatives | 1,920 | 2,370 |
Amounts Subject to Enforceable Master Netting Arrangements | 0 | (427) |
Net Amounts | $ 1,920 | $ 1,943 |
Commitments and Contingencies68
Commitments and Contingencies (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||
2,017 | $ 6,709 | ||
2,018 | 6,708 | ||
2,019 | 6,793 | ||
2,020 | 6,881 | ||
2,021 | 8,027 | ||
Thereafter | 532,275 | ||
Total | 567,393 | ||
Rent expense | $ 8,500 | $ 6,900 | $ 4,800 |
Maximum | |||
Other Commitments [Line Items] | |||
Lease term | 99 years |
Stockholders' Equity and Part69
Stockholders' Equity and Partners' Capital - Textuals (Details) | Feb. 15, 2017$ / shares | Jan. 31, 2016USD ($) | May 31, 2015$ / sharesshares | Dec. 31, 2016USD ($)$ / sharesshares | Dec. 31, 2015USD ($)$ / sharesshares | Dec. 31, 2014USD ($)$ / shares |
Class of Stock [Line Items] | ||||||
Total equity issued, including partners' capital units | $ 492,500,000 | |||||
Shares issued, price per share (in dollars per share) | $ / shares | $ 29.33 | |||||
Common Stock Offerings | ||||||
Issuance of common stock, net | $ 417,163,000 | $ 43,649,000 | $ 152,014,000 | |||
Common Stock Dividends | ||||||
Dividends declared (in usd per share) | $ / shares | $ 1.190 | $ 1.170 | $ 1.155 | |||
LTIP Units | ||||||
Incentive Plan | ||||||
Fair value of restricted common stock and restricted common stock units for which the restriction lapsed | $ 0 | $ 0 | $ 300,000 | |||
Number of forfeited units/shares | shares | 225,000 | |||||
Forfeited, weighted average grant date fair value (usd per share) | $ / shares | $ 20 | |||||
LTIP Units | Listing Expenses | ||||||
Incentive Plan | ||||||
Compensation expense | 0 | 0 | 0 | |||
Restricted Common Stock | ||||||
Incentive Plan | ||||||
Fair value of restricted common stock and restricted common stock units for which the restriction lapsed | $ 5,400,000 | $ 4,600,000 | $ 900,000 | |||
Number of forfeited units/shares | shares | 26,091 | 27,751 | ||||
Forfeited, weighted average grant date fair value (usd per share) | $ / shares | $ 26.09 | $ 23.03 | ||||
Granted, weighted average grant date fair value (usd per share) | $ / shares | $ 29.82 | $ 26.52 | $ 21.08 | |||
Nonvested awards, total compensation cost not yet recognized | $ 8,500,000 | |||||
Period for recognition (in years) | 1 year 9 months 18 days | |||||
Restricted Common Stock | General and Administrative Expense | ||||||
Incentive Plan | ||||||
Compensation expense | $ 7,100,000 | $ 5,700,000 | $ 4,400,000 | |||
2006 Incentive Plan | ||||||
Incentive Plan | ||||||
Number of shares authorized | shares | 5,000,000 | |||||
Number of shares available for grant | shares | 1,923,310 | |||||
Subsequent Event | ||||||
Common Stock Dividends | ||||||
Dividends declared (in usd per share) | $ / shares | $ 0.30 | |||||
Maximum | Restricted Common Stock | ||||||
Incentive Plan | ||||||
Service period (in years) | 4 years | |||||
Minimum | Restricted Common Stock | ||||||
Incentive Plan | ||||||
Service period (in years) | 3 years | |||||
At the Market | ||||||
Common Stock Offerings | ||||||
Number of shares issued and sold | shares | 4,418,571 | |||||
Issuance of common stock, net | $ 122,900,000 | |||||
Sale of stock, average price per share (in usd per share) | $ / shares | $ 27.82 | |||||
Remaining amount of shares available for issuance | $ 177,100,000 | |||||
At the Market | Maximum | ||||||
Common Stock Offerings | ||||||
Maximum amount of common stock authorized | $ 300,000,000 | |||||
Public Offering | ||||||
Class of Stock [Line Items] | ||||||
Shares issued, price per share (in dollars per share) | $ / shares | $ 30.64 | |||||
Common Stock Offerings | ||||||
Number of shares issued and sold | shares | 9,720,000 | |||||
Issuance of common stock, net | $ 297,800,000 | |||||
Healthcare Trust of America Holdings, LP (HTALP) | ||||||
Class of Stock [Line Items] | ||||||
Dividend distribution ratio | 1 | |||||
Market value of operating partnership units issued at the time of of issuance | shares | 2,650,409 | |||||
Common Stock Offerings | ||||||
Market value at time of issuance of operating partnership issued with acquisitions | $ 71,800,000 | |||||
Issuance of limited partner units for joint venture | $ 2,700,000 |
Stockholders' Equity and Part70
Stockholders' Equity and Partners' Capital - Restricted Common Stock Activity (Details) - Restricted Common Stock - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Restricted Common Stock | |||
Balance as of beginning of period (shares) | 487,850 | 463,050 | |
Granted (shares) | 417,110 | 229,281 | |
Vested (shares) | (237,999) | (176,730) | |
Forfeited (shares) | (26,091) | (27,751) | |
Balance as of end of period (shares) | 640,870 | 487,850 | 463,050 |
Weighted Average Grant Date Fair Value | |||
Balance as of beginning of period (usd per share) | $ 23.13 | $ 20.90 | |
Granted (usd per share) | 29.82 | 26.52 | $ 21.08 |
Vested (usd per share) | 23.28 | 21.48 | |
Forfeited (usd per share) | 26.09 | 23.03 | |
Balance as of end of period (usd per share) | $ 27.36 | $ 23.13 | $ 20.90 |
Fair Value of Financial Instr71
Fair Value of Financial Instruments - Assets and Liabilities at Fair Value (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Assets: | ||
Derivative financial instruments, asset | $ 541 | $ 427 |
Liabilities: | ||
Derivative financial instrument, liability | 1,920 | 2,370 |
Fair Value, Measurements, Recurring | ||
Assets: | ||
Derivative financial instruments, asset | 541 | 427 |
Liabilities: | ||
Derivative financial instrument, liability | 1,920 | 2,370 |
Fair Value, Measurements, Recurring | Level 1 | ||
Assets: | ||
Derivative financial instruments, asset | 0 | 0 |
Liabilities: | ||
Derivative financial instrument, liability | 0 | 0 |
Fair Value, Measurements, Recurring | Level 2 | ||
Assets: | ||
Derivative financial instruments, asset | 541 | 427 |
Liabilities: | ||
Derivative financial instrument, liability | 1,920 | 2,370 |
Fair Value, Measurements, Recurring | Level 3 | ||
Assets: | ||
Derivative financial instruments, asset | 0 | 0 |
Liabilities: | ||
Derivative financial instrument, liability | $ 0 | $ 0 |
Fair Value of Financial Instr72
Fair Value of Financial Instruments - Assets on Nonrecurring Basis (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ||
Assets: MOB | $ 8,191 | $ 547 |
Impairment on property being marketed for sale | 900 | |
MOB, Building A | ||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ||
Impairment charges on MOB | 1,300 | |
MOB, Building B | ||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ||
Impairment charges on MOB | 1,800 | |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ||
Assets: MOB | 0 | 0 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ||
Assets: MOB | 8,191 | 547 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | ||
Assets: MOB | $ 0 | $ 0 |
Fair Value of Financial Instr73
Fair Value of Financial Instruments - Textuals (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value Disclosures [Abstract] | ||
Debt, fair value | $ 1,784,000 | $ 1,619,700 |
Debt, carrying value | $ 1,768,905 | $ 1,590,696 |
Per Share Data of HTA (Details)
Per Share Data of HTA (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 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 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Numerator: | ||||||||||||
Net income | $ 47,345 | $ 33,557 | $ 45,994 | |||||||||
Net income attributable to noncontrolling interests | [1] | (1,433) | (626) | (623) | ||||||||
Net income attributable to common stockholders/unitholders | $ 45,912 | $ 32,931 | $ 45,371 | |||||||||
Denominator: | ||||||||||||
Weighted average shares outstanding - basic | 136,620 | 126,074 | 119,904 | |||||||||
Weighted average number of shares/units outstanding — diluted | 140,259 | 128,004 | 121,168 | |||||||||
Earnings per common share - basic: | ||||||||||||
Net income attributable to common stockholders (usd per share) | $ 0.34 | $ 0.26 | $ 0.38 | |||||||||
Earnings per common share - diluted: | ||||||||||||
Net income attributable to common stockholders (usd per share) | $ 0.33 | $ 0.26 | $ 0.37 | |||||||||
HTA, Inc. | ||||||||||||
Numerator: | ||||||||||||
Net income | $ 17,154 | $ 6,639 | $ 13,516 | $ 10,036 | $ 10,573 | $ 6,554 | $ 9,488 | $ 6,942 | $ 47,345 | $ 33,557 | $ 45,994 | |
Net income attributable to noncontrolling interests | (1,433) | (626) | (623) | |||||||||
Net income attributable to common stockholders/unitholders | $ 16,551 | $ 6,427 | $ 13,074 | $ 9,860 | $ 10,372 | $ 6,463 | $ 9,292 | $ 6,804 | $ 45,912 | $ 32,931 | $ 45,371 | |
Denominator: | ||||||||||||
Weighted average shares outstanding - basic | 136,620 | 126,074 | 119,904 | |||||||||
Dilutive shares | 3,639 | 1,930 | 1,264 | |||||||||
Weighted average number of shares/units outstanding — diluted | 140,259 | 128,004 | 121,168 | |||||||||
Earnings per common share - basic: | ||||||||||||
Net income attributable to common stockholders (usd per share) | $ 0.12 | $ 0.05 | $ 0.10 | $ 0.08 | $ 0.08 | $ 0.05 | $ 0.07 | $ 0.05 | $ 0.34 | $ 0.26 | $ 0.38 | |
Earnings per common share - diluted: | ||||||||||||
Net income attributable to common stockholders (usd per share) | $ 0.11 | $ 0.04 | $ 0.09 | $ 0.08 | $ 0.08 | $ 0.05 | $ 0.07 | $ 0.05 | $ 0.33 | $ 0.26 | $ 0.37 | |
[1] | Includes amounts attributable to redeemable noncontrolling interests. |
Per Unit Data of HTALP (Details
Per Unit Data of HTALP (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 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 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Numerator: | ||||||||||||
Net income | $ 47,345 | $ 33,557 | $ 45,994 | |||||||||
Net income attributable to noncontrolling interests | [1] | (1,433) | (626) | (623) | ||||||||
Net income attributable to common stockholders/unitholders | $ 45,912 | $ 32,931 | $ 45,371 | |||||||||
Denominator: | ||||||||||||
Weighted average units outstanding - basic | 136,620 | 126,074 | 119,904 | |||||||||
Weighted average number of shares/units outstanding — diluted | 140,259 | 128,004 | 121,168 | |||||||||
Earnings per common unit - basic: | ||||||||||||
Net income attributable to common unitholders (usd per share) | $ 0.34 | $ 0.26 | $ 0.38 | |||||||||
Earnings per common unit - diluted: | ||||||||||||
Net income attributable to common unitholders (usd per share) | $ 0.33 | $ 0.26 | $ 0.37 | |||||||||
Healthcare Trust of America Holdings, LP (HTALP) | ||||||||||||
Numerator: | ||||||||||||
Net income | $ 17,154 | $ 6,639 | $ 13,516 | $ 10,036 | $ 10,573 | $ 6,554 | $ 9,488 | $ 6,942 | $ 47,345 | $ 33,557 | $ 45,994 | |
Net income attributable to noncontrolling interests | (118) | (112) | (133) | |||||||||
Net income attributable to common stockholders/unitholders | $ 17,064 | $ 6,638 | $ 13,520 | $ 10,005 | $ 10,538 | $ 6,534 | $ 9,464 | $ 6,909 | $ 47,227 | $ 33,445 | $ 45,861 | |
Denominator: | ||||||||||||
Weighted average units outstanding - basic | 140,259 | 128,079 | 121,340 | |||||||||
Dilutive units | 0 | 0 | 0 | |||||||||
Weighted average number of shares/units outstanding — diluted | 140,259 | 128,079 | 121,340 | |||||||||
Earnings per common unit - basic: | ||||||||||||
Net income attributable to common unitholders (usd per share) | $ 0.12 | $ 0.05 | $ 0.10 | $ 0.08 | $ 0.08 | $ 0.05 | $ 0.07 | $ 0.05 | $ 0.34 | $ 0.26 | $ 0.38 | |
Earnings per common unit - diluted: | ||||||||||||
Net income attributable to common unitholders (usd per share) | $ 0.12 | $ 0.05 | $ 0.10 | $ 0.08 | $ 0.08 | $ 0.05 | $ 0.07 | $ 0.05 | $ 0.34 | $ 0.26 | $ 0.38 | |
[1] | Includes amounts attributable to redeemable noncontrolling interests. |
Supplemental Cash Flow Inform76
Supplemental Cash Flow Information (Details) - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Supplemental Disclosure of Cash Flow Information: | |||
Interest paid | $ 50,883 | $ 52,688 | $ 42,666 |
Income taxes paid | 1,059 | 996 | 889 |
Supplemental Disclosure of Noncash Investing and Financing Activities: | |||
Accrued capital expenditures | 5,092 | 5,696 | 3,853 |
Debt and interest rate swaps assumed in connection with acquisitions | 28,163 | 0 | 103,980 |
Dividend distributions declared, but not paid | $ 43,867 | $ 37,886 | $ 36,275 |
Issuance of operating partnership units in connection with acquisitions | 71,754 | 0 | 16,960 |
Note receivable included in the consideration of an acquisition | $ 0 | $ 0 | $ 11,924 |
Notes receivable included in the consideration of dispositions | 12,737 | 0 | 0 |
Redeemable noncontrolling interest assumed in connection with an acquisition | 4,773 | 0 | 0 |
Redemption of noncontrolling interest | $ 5,709 | $ 0 | $ 0 |
Tax Treatment of Dividends of77
Tax Treatment of Dividends of HTA (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||
Ordinary income | $ 0.8970 | $ 0.6634 | $ 0.6850 |
Return of capital | 0.2880 | 0.2116 | 0.4700 |
Capital gain | 0 | 0 | 0 |
Total | $ 1.1850 | $ 0.8750 | $ 1.1550 |
Future Minimum Rent (Details)
Future Minimum Rent (Details) $ in Thousands | Dec. 31, 2016USD ($) |
Operating Leases, Future Minimum Payments Receivable [Abstract] | |
2,017 | $ 373,903 |
2,018 | 331,499 |
2,019 | 299,420 |
2,020 | 260,783 |
2,021 | 230,492 |
Thereafter | 747,109 |
Total | $ 2,243,206 |
Selected Quarterly Financial 79
Selected Quarterly Financial Data of HTA (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 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 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Selected Quarterly Financial Data [Line Items] | |||||||||||
Revenues | $ 460,928 | $ 403,822 | $ 371,505 | ||||||||
Net income | 47,345 | 33,557 | 45,994 | ||||||||
Net income attributable to common stockholders | $ 45,912 | $ 32,931 | $ 45,371 | ||||||||
Earnings per common share - basic: | |||||||||||
Net income attributable to common stockholders (usd per share) | $ 0.34 | $ 0.26 | $ 0.38 | ||||||||
Earnings per common share - diluted: | |||||||||||
Net income attributable to common stockholders (usd per share) | $ 0.33 | $ 0.26 | $ 0.37 | ||||||||
HTA, Inc. | |||||||||||
Selected Quarterly Financial Data [Line Items] | |||||||||||
Revenues | $ 122,039 | $ 118,340 | $ 113,234 | $ 107,315 | $ 102,049 | $ 103,942 | $ 99,311 | $ 98,520 | |||
Net income | 17,154 | 6,639 | 13,516 | 10,036 | 10,573 | 6,554 | 9,488 | 6,942 | $ 47,345 | $ 33,557 | $ 45,994 |
Net income attributable to common stockholders | $ 16,551 | $ 6,427 | $ 13,074 | $ 9,860 | $ 10,372 | $ 6,463 | $ 9,292 | $ 6,804 | $ 45,912 | $ 32,931 | $ 45,371 |
Earnings per common share - basic: | |||||||||||
Net income attributable to common stockholders (usd per share) | $ 0.12 | $ 0.05 | $ 0.10 | $ 0.08 | $ 0.08 | $ 0.05 | $ 0.07 | $ 0.05 | $ 0.34 | $ 0.26 | $ 0.38 |
Earnings per common share - diluted: | |||||||||||
Net income attributable to common stockholders (usd per share) | $ 0.11 | $ 0.04 | $ 0.09 | $ 0.08 | $ 0.08 | $ 0.05 | $ 0.07 | $ 0.05 | $ 0.33 | $ 0.26 | $ 0.37 |
Selected Quarterly Financial 80
Selected Quarterly Financial Data of HTALP (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 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 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Selected Quarterly Financial Data [Line Items] | |||||||||||
Revenues | $ 460,928 | $ 403,822 | $ 371,505 | ||||||||
Net income | 47,345 | 33,557 | 45,994 | ||||||||
Net income attributable to common unitholders | $ 45,912 | $ 32,931 | $ 45,371 | ||||||||
Earnings per common unit - basic: | |||||||||||
Net income attributable to common unitholders (usd per share) | $ 0.34 | $ 0.26 | $ 0.38 | ||||||||
Earnings per common unit - diluted: | |||||||||||
Net income attributable to common unitholders (usd per share) | $ 0.33 | $ 0.26 | $ 0.37 | ||||||||
Healthcare Trust of America Holdings, LP (HTALP) | |||||||||||
Selected Quarterly Financial Data [Line Items] | |||||||||||
Revenues | $ 122,039 | $ 118,340 | $ 113,234 | $ 107,315 | $ 102,049 | $ 103,942 | $ 99,311 | $ 98,520 | $ 460,928 | $ 403,822 | $ 371,505 |
Net income | 17,154 | 6,639 | 13,516 | 10,036 | 10,573 | 6,554 | 9,488 | 6,942 | 47,345 | 33,557 | 45,994 |
Net income attributable to common unitholders | $ 17,064 | $ 6,638 | $ 13,520 | $ 10,005 | $ 10,538 | $ 6,534 | $ 9,464 | $ 6,909 | $ 47,227 | $ 33,445 | $ 45,861 |
Earnings per common unit - basic: | |||||||||||
Net income attributable to common unitholders (usd per share) | $ 0.12 | $ 0.05 | $ 0.10 | $ 0.08 | $ 0.08 | $ 0.05 | $ 0.07 | $ 0.05 | $ 0.34 | $ 0.26 | $ 0.38 |
Earnings per common unit - diluted: | |||||||||||
Net income attributable to common unitholders (usd per share) | $ 0.12 | $ 0.05 | $ 0.10 | $ 0.08 | $ 0.08 | $ 0.05 | $ 0.07 | $ 0.05 | $ 0.34 | $ 0.26 | $ 0.38 |
Schedule II - Valuation and Q81
Schedule II - Valuation and Qualifying Accounts (Details) - Allowance for doubtful accounts - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Period | $ 2,150 | $ 2,017 | $ 2,121 |
Charged to Expenses | 846 | 828 | 312 |
Adjustments to Valuation Accounts | 0 | 0 | 0 |
Deductions | (972) | (695) | (416) |
Balance at End of Period | $ 2,024 | $ 2,150 | $ 2,017 |
Schedule III - Real Estate an82
Schedule III - Real Estate and Accumulated Depreciation - Rollforward of Carrying Amount of Real Estate Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
SEC Schedule III, Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | |||
Balance as of the beginning of the year | $ 3,204,863 | $ 2,953,532 | $ 2,561,073 |
Acquisitions | 647,339 | 266,747 | 410,732 |
Additions | 43,637 | 28,828 | 33,109 |
Dispositions | (39,717) | (43,318) | (51,382) |
Impairments | (3,080) | (926) | 0 |
Balance as of the end of the year | 3,853,042 | 3,204,863 | 2,953,532 |
Lease intangibles | 467,571 | $ 430,749 | $ 419,300 |
Federal income tax basis | $ 4,300,000 |
Schedule III - Real Estate an83
Schedule III - Real Estate and Accumulated Depreciation - Real Estate Investments and Accumulated Depreciation (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 243,466 | |||
Initial Cost to Company | ||||
Land | 383,249 | |||
Buildings, Improvements and Fixtures | 3,305,589 | |||
Cost Capitalized Subsequent to Acquisition | 164,204 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 386,526 | |||
Buildings, Improvements and Fixtures | 3,466,516 | |||
Total | 3,853,042 | $ 3,204,863 | $ 2,953,532 | $ 2,561,073 |
Accumulated Depreciation | (581,505) | $ (474,223) | $ (383,966) | $ (308,173) |
Shelby MOBs | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 25,095 | |||
Cost Capitalized Subsequent to Acquisition | 70 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 25,165 | |||
Total | 25,165 | |||
Accumulated Depreciation | $ (350) | |||
Life on Which Building Depreciation in Income Statement is Computed | 36 years | |||
Simon Williamson Clinic | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 25,689 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 25,689 | |||
Total | 25,689 | |||
Accumulated Depreciation | $ (426) | |||
Life on Which Building Depreciation in Income Statement is Computed | 36 years | |||
Jasper | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 5,973 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 5,973 | |||
Total | 5,973 | |||
Accumulated Depreciation | $ (127) | |||
Life on Which Building Depreciation in Income Statement is Computed | 25 years | |||
Phoenix Med Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 453 | |||
Buildings, Improvements and Fixtures | 2,768 | |||
Cost Capitalized Subsequent to Acquisition | 536 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 453 | |||
Buildings, Improvements and Fixtures | 3,304 | |||
Total | 3,757 | |||
Accumulated Depreciation | $ (884) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Thunderbird MOP | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 12,444 | |||
Initial Cost to Company | ||||
Land | 3,842 | |||
Buildings, Improvements and Fixtures | 19,679 | |||
Cost Capitalized Subsequent to Acquisition | 3,710 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 3,842 | |||
Buildings, Improvements and Fixtures | 23,389 | |||
Total | 27,231 | |||
Accumulated Depreciation | $ (8,453) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Peoria MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 605 | |||
Buildings, Improvements and Fixtures | 4,394 | |||
Cost Capitalized Subsequent to Acquisition | 515 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 605 | |||
Buildings, Improvements and Fixtures | 4,909 | |||
Total | 5,514 | |||
Accumulated Depreciation | $ (1,286) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Baptist MC | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 12,637 | |||
Cost Capitalized Subsequent to Acquisition | 1,834 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 14,471 | |||
Total | 14,471 | |||
Accumulated Depreciation | $ (3,653) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Desert Ridge MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 27,738 | |||
Cost Capitalized Subsequent to Acquisition | 2,633 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 30,371 | |||
Total | 30,371 | |||
Accumulated Depreciation | $ (5,022) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Estrella Med Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 18,958 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 24,703 | |||
Cost Capitalized Subsequent to Acquisition | 2,936 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 27,639 | |||
Total | 27,639 | |||
Accumulated Depreciation | $ (5,948) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Sun City Boswell MOBs | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 12,775 | |||
Cost Capitalized Subsequent to Acquisition | 2,667 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 15,442 | |||
Total | 15,442 | |||
Accumulated Depreciation | $ (4,843) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Sun City Boswell West | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 6,610 | |||
Cost Capitalized Subsequent to Acquisition | 2,108 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 8,718 | |||
Total | 8,718 | |||
Accumulated Depreciation | $ (2,392) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Sun City Webb MP | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 16,188 | |||
Cost Capitalized Subsequent to Acquisition | 2,061 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 18,249 | |||
Total | 18,249 | |||
Accumulated Depreciation | $ (4,799) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Sun City West MOBs | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 744 | |||
Buildings, Improvements and Fixtures | 13,466 | |||
Cost Capitalized Subsequent to Acquisition | 2,043 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 744 | |||
Buildings, Improvements and Fixtures | 15,509 | |||
Total | 16,253 | |||
Accumulated Depreciation | $ (4,697) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Gateway Med Plaza | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 14,005 | |||
Cost Capitalized Subsequent to Acquisition | (22) | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 13,983 | |||
Total | 13,983 | |||
Accumulated Depreciation | $ (2,656) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Tucson Academy MOP | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,193 | |||
Buildings, Improvements and Fixtures | 6,107 | |||
Cost Capitalized Subsequent to Acquisition | 1,318 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,193 | |||
Buildings, Improvements and Fixtures | 7,425 | |||
Total | 8,618 | |||
Accumulated Depreciation | $ (2,549) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Tucson Desert Life MOP | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,309 | |||
Buildings, Improvements and Fixtures | 17,572 | |||
Cost Capitalized Subsequent to Acquisition | 3,781 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,309 | |||
Buildings, Improvements and Fixtures | 21,353 | |||
Total | 22,662 | |||
Accumulated Depreciation | $ (6,314) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
5995 Plaza Drive | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 5,109 | |||
Buildings, Improvements and Fixtures | 17,961 | |||
Cost Capitalized Subsequent to Acquisition | 336 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 5,109 | |||
Buildings, Improvements and Fixtures | 18,297 | |||
Total | 23,406 | |||
Accumulated Depreciation | $ (4,867) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
St. Mary Physician’s Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,815 | |||
Buildings, Improvements and Fixtures | 10,242 | |||
Cost Capitalized Subsequent to Acquisition | 1,275 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,815 | |||
Buildings, Improvements and Fixtures | 11,517 | |||
Total | 13,332 | |||
Accumulated Depreciation | $ (2,986) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Mission Medical Center MOBs | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 21,911 | |||
Buildings, Improvements and Fixtures | 117,672 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 21,911 | |||
Buildings, Improvements and Fixtures | 117,672 | |||
Total | 139,583 | |||
Accumulated Depreciation | $ (1,280) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
San Luis Obispo MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 11,900 | |||
Cost Capitalized Subsequent to Acquisition | 2,598 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 14,498 | |||
Total | 14,498 | |||
Accumulated Depreciation | $ (3,428) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Hampden Place MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 3,032 | |||
Buildings, Improvements and Fixtures | 12,553 | |||
Cost Capitalized Subsequent to Acquisition | 299 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 3,032 | |||
Buildings, Improvements and Fixtures | 12,852 | |||
Total | 15,884 | |||
Accumulated Depreciation | $ (3,167) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Highlands Ranch MOP | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,240 | |||
Buildings, Improvements and Fixtures | 10,426 | |||
Cost Capitalized Subsequent to Acquisition | 3,018 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 2,240 | |||
Buildings, Improvements and Fixtures | 13,444 | |||
Total | 15,684 | |||
Accumulated Depreciation | $ (4,556) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Lone Tree Medical Office Buildings | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 3,736 | |||
Buildings, Improvements and Fixtures | 29,546 | |||
Cost Capitalized Subsequent to Acquisition | 699 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 3,736 | |||
Buildings, Improvements and Fixtures | 30,245 | |||
Total | 33,981 | |||
Accumulated Depreciation | $ (2,232) | |||
Life on Which Building Depreciation in Income Statement is Computed | 38 years | |||
Lincoln Medical Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 5,142 | |||
Buildings, Improvements and Fixtures | 28,638 | |||
Cost Capitalized Subsequent to Acquisition | 92 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 5,142 | |||
Buildings, Improvements and Fixtures | 28,730 | |||
Total | 33,872 | |||
Accumulated Depreciation | $ (3,368) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
80 Fisher | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 5,094 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 5,094 | |||
Total | 5,094 | |||
Accumulated Depreciation | $ (188) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Northwestern MOBs | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,369 | |||
Buildings, Improvements and Fixtures | 6,287 | |||
Cost Capitalized Subsequent to Acquisition | 440 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,369 | |||
Buildings, Improvements and Fixtures | 6,727 | |||
Total | 8,096 | |||
Accumulated Depreciation | $ (228) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
533 Cottage - Northwestern | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 726 | |||
Buildings, Improvements and Fixtures | 3,964 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 726 | |||
Buildings, Improvements and Fixtures | 3,964 | |||
Total | 4,690 | |||
Accumulated Depreciation | $ (111) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
406 Farmington | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 379 | |||
Buildings, Improvements and Fixtures | 3,509 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 379 | |||
Buildings, Improvements and Fixtures | 3,509 | |||
Total | 3,888 | |||
Accumulated Depreciation | $ (89) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
704 Hebron | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,223 | |||
Buildings, Improvements and Fixtures | 6,544 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 2,223 | |||
Buildings, Improvements and Fixtures | 6,544 | |||
Total | 8,767 | |||
Accumulated Depreciation | $ (214) | |||
Life on Which Building Depreciation in Income Statement is Computed | 37 years | |||
Gateway MOBs | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 10,896 | |||
Buildings, Improvements and Fixtures | 37,442 | |||
Cost Capitalized Subsequent to Acquisition | 894 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 10,896 | |||
Buildings, Improvements and Fixtures | 38,336 | |||
Total | 49,232 | |||
Accumulated Depreciation | $ (1,228) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Haynes MOBs | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 7,677 | |||
Initial Cost to Company | ||||
Land | 1,100 | |||
Buildings, Improvements and Fixtures | 14,620 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,100 | |||
Buildings, Improvements and Fixtures | 14,620 | |||
Total | 15,720 | |||
Accumulated Depreciation | $ (346) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Pomeroy MOBs | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,774 | |||
Buildings, Improvements and Fixtures | 10,078 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,774 | |||
Buildings, Improvements and Fixtures | 10,078 | |||
Total | 11,852 | |||
Accumulated Depreciation | $ (325) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Saybrook MOBs | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 10,314 | |||
Cost Capitalized Subsequent to Acquisition | 9 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 10,323 | |||
Total | 10,323 | |||
Accumulated Depreciation | $ (276) | |||
Life on Which Building Depreciation in Income Statement is Computed | 28 years | |||
Yale Long Wharf | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 9,367 | |||
Buildings, Improvements and Fixtures | 58,691 | |||
Cost Capitalized Subsequent to Acquisition | 1,007 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 9,367 | |||
Buildings, Improvements and Fixtures | 59,698 | |||
Total | 69,065 | |||
Accumulated Depreciation | $ (2,398) | |||
Life on Which Building Depreciation in Income Statement is Computed | 30 years | |||
Devine MOBs | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 3,281 | |||
Buildings, Improvements and Fixtures | 19,671 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 3,281 | |||
Buildings, Improvements and Fixtures | 19,671 | |||
Total | 22,952 | |||
Accumulated Depreciation | $ (634) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
Evergreen MOBs | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 12,193 | |||
Initial Cost to Company | ||||
Land | 5,565 | |||
Buildings, Improvements and Fixtures | 25,839 | |||
Cost Capitalized Subsequent to Acquisition | 4 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 5,565 | |||
Buildings, Improvements and Fixtures | 25,843 | |||
Total | 31,408 | |||
Accumulated Depreciation | $ (693) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Day Hill MOBs | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 3,980 | |||
Buildings, Improvements and Fixtures | 7,055 | |||
Cost Capitalized Subsequent to Acquisition | 75 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 3,980 | |||
Buildings, Improvements and Fixtures | 7,130 | |||
Total | 11,110 | |||
Accumulated Depreciation | $ (328) | |||
Life on Which Building Depreciation in Income Statement is Computed | 30 years | |||
Riverside MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,230 | |||
Buildings, Improvements and Fixtures | 7,689 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 2,230 | |||
Buildings, Improvements and Fixtures | 7,689 | |||
Total | 9,919 | |||
Accumulated Depreciation | $ (112) | |||
Life on Which Building Depreciation in Income Statement is Computed | 25 years | |||
Brandon MOP | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 901 | |||
Buildings, Improvements and Fixtures | 6,946 | |||
Cost Capitalized Subsequent to Acquisition | 583 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 901 | |||
Buildings, Improvements and Fixtures | 7,529 | |||
Total | 8,430 | |||
Accumulated Depreciation | $ (2,267) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
McMullen MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 3,470 | |||
Buildings, Improvements and Fixtures | 12,621 | |||
Cost Capitalized Subsequent to Acquisition | 9 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 3,470 | |||
Buildings, Improvements and Fixtures | 12,630 | |||
Total | 16,100 | |||
Accumulated Depreciation | $ (1,160) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Orlando Rehab Hospital | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,600 | |||
Buildings, Improvements and Fixtures | 20,256 | |||
Cost Capitalized Subsequent to Acquisition | 3,000 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 2,600 | |||
Buildings, Improvements and Fixtures | 23,256 | |||
Total | 25,856 | |||
Accumulated Depreciation | $ (4,180) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Palmetto MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 15,512 | |||
Cost Capitalized Subsequent to Acquisition | 1,582 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 17,094 | |||
Total | 17,094 | |||
Accumulated Depreciation | $ (2,874) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
East FL Senior Jacksonville | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 4,291 | |||
Buildings, Improvements and Fixtures | 9,220 | |||
Cost Capitalized Subsequent to Acquisition | (1) | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 4,291 | |||
Buildings, Improvements and Fixtures | 9,219 | |||
Total | 13,510 | |||
Accumulated Depreciation | $ (3,405) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
King Street MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 7,232 | |||
Cost Capitalized Subsequent to Acquisition | (41) | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 7,191 | |||
Total | 7,191 | |||
Accumulated Depreciation | $ (1,630) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Jupiter MP | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,204 | |||
Buildings, Improvements and Fixtures | 11,778 | |||
Cost Capitalized Subsequent to Acquisition | 563 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,204 | |||
Buildings, Improvements and Fixtures | 12,341 | |||
Total | 13,545 | |||
Accumulated Depreciation | $ (1,401) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Central FL SC | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 768 | |||
Buildings, Improvements and Fixtures | 3,002 | |||
Cost Capitalized Subsequent to Acquisition | 329 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 768 | |||
Buildings, Improvements and Fixtures | 3,331 | |||
Total | 4,099 | |||
Accumulated Depreciation | $ (922) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Vista Pro Center MOP | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,082 | |||
Buildings, Improvements and Fixtures | 3,587 | |||
Cost Capitalized Subsequent to Acquisition | 754 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,082 | |||
Buildings, Improvements and Fixtures | 4,341 | |||
Total | 5,423 | |||
Accumulated Depreciation | $ (1,291) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Largo Medical Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 28,465 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 51,045 | |||
Cost Capitalized Subsequent to Acquisition | 479 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 51,524 | |||
Total | 51,524 | |||
Accumulated Depreciation | $ (4,646) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Largo MOP | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 729 | |||
Buildings, Improvements and Fixtures | 8,908 | |||
Cost Capitalized Subsequent to Acquisition | 1,201 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 729 | |||
Buildings, Improvements and Fixtures | 10,109 | |||
Total | 10,838 | |||
Accumulated Depreciation | $ (2,804) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
FL Family Medical Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 4,257 | |||
Cost Capitalized Subsequent to Acquisition | 517 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 4,774 | |||
Total | 4,774 | |||
Accumulated Depreciation | $ (935) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Northwest Medical Park | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 9,525 | |||
Cost Capitalized Subsequent to Acquisition | 92 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 9,617 | |||
Total | 9,617 | |||
Accumulated Depreciation | $ (1,046) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
North Shore MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 4,942 | |||
Cost Capitalized Subsequent to Acquisition | 392 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 5,334 | |||
Total | 5,334 | |||
Accumulated Depreciation | $ (1,173) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Sunset Professional and Kendall MOBs | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 11,855 | |||
Buildings, Improvements and Fixtures | 13,633 | |||
Cost Capitalized Subsequent to Acquisition | 2,599 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 11,855 | |||
Buildings, Improvements and Fixtures | 16,232 | |||
Total | 28,087 | |||
Accumulated Depreciation | $ (2,250) | |||
Life on Which Building Depreciation in Income Statement is Computed | 27 years | |||
Common V MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 8,672 | |||
Initial Cost to Company | ||||
Land | 4,173 | |||
Buildings, Improvements and Fixtures | 9,070 | |||
Cost Capitalized Subsequent to Acquisition | 660 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 4,173 | |||
Buildings, Improvements and Fixtures | 9,730 | |||
Total | 13,903 | |||
Accumulated Depreciation | $ (2,696) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Orlando Lake Underhill MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 8,515 | |||
Cost Capitalized Subsequent to Acquisition | 1,150 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 9,665 | |||
Total | 9,665 | |||
Accumulated Depreciation | $ (2,118) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Orlando Oviedo MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 5,711 | |||
Cost Capitalized Subsequent to Acquisition | 427 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 6,138 | |||
Total | 6,138 | |||
Accumulated Depreciation | $ (1,241) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Heart & Family Health MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 686 | |||
Buildings, Improvements and Fixtures | 8,102 | |||
Cost Capitalized Subsequent to Acquisition | 5 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 686 | |||
Buildings, Improvements and Fixtures | 8,107 | |||
Total | 8,793 | |||
Accumulated Depreciation | $ (853) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
St. Lucie MC | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 6,127 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 6,127 | |||
Total | 6,127 | |||
Accumulated Depreciation | $ (715) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
East FL Senior Sunrise | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,947 | |||
Buildings, Improvements and Fixtures | 12,825 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 2,947 | |||
Buildings, Improvements and Fixtures | 12,825 | |||
Total | 15,772 | |||
Accumulated Depreciation | $ (4,198) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Tallahassee Rehab Hospital | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 7,142 | |||
Buildings, Improvements and Fixtures | 18,691 | |||
Cost Capitalized Subsequent to Acquisition | 2,400 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 7,142 | |||
Buildings, Improvements and Fixtures | 21,091 | |||
Total | 28,233 | |||
Accumulated Depreciation | $ (4,080) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
FL Ortho Institute | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,923 | |||
Buildings, Improvements and Fixtures | 17,647 | |||
Cost Capitalized Subsequent to Acquisition | (1) | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 2,923 | |||
Buildings, Improvements and Fixtures | 17,646 | |||
Total | 20,569 | |||
Accumulated Depreciation | $ (3,406) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Wellington MAP III | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 10,511 | |||
Cost Capitalized Subsequent to Acquisition | 27 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 10,538 | |||
Total | 10,538 | |||
Accumulated Depreciation | $ (2,009) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Victor Farris MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 23,052 | |||
Cost Capitalized Subsequent to Acquisition | 824 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 23,876 | |||
Total | 23,876 | |||
Accumulated Depreciation | $ (3,293) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
East FL Senior Winter Park | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,840 | |||
Buildings, Improvements and Fixtures | 12,825 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 2,840 | |||
Buildings, Improvements and Fixtures | 12,825 | |||
Total | 15,665 | |||
Accumulated Depreciation | $ (4,495) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Camp Creek Med Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,961 | |||
Buildings, Improvements and Fixtures | 19,688 | |||
Cost Capitalized Subsequent to Acquisition | 79 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 2,961 | |||
Buildings, Improvements and Fixtures | 19,767 | |||
Total | 22,728 | |||
Accumulated Depreciation | $ (4,825) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Augusta Rehab Hospital | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,059 | |||
Buildings, Improvements and Fixtures | 20,899 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,059 | |||
Buildings, Improvements and Fixtures | 20,899 | |||
Total | 21,958 | |||
Accumulated Depreciation | $ (3,760) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Austell Medical Park | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 432 | |||
Buildings, Improvements and Fixtures | 4,057 | |||
Cost Capitalized Subsequent to Acquisition | 26 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 432 | |||
Buildings, Improvements and Fixtures | 4,083 | |||
Total | 4,515 | |||
Accumulated Depreciation | $ (584) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Decatur MP | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 3,166 | |||
Buildings, Improvements and Fixtures | 6,862 | |||
Cost Capitalized Subsequent to Acquisition | 712 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 3,166 | |||
Buildings, Improvements and Fixtures | 7,574 | |||
Total | 10,740 | |||
Accumulated Depreciation | $ (2,118) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Yorktown MC | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,802 | |||
Buildings, Improvements and Fixtures | 12,502 | |||
Cost Capitalized Subsequent to Acquisition | 2,388 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 2,802 | |||
Buildings, Improvements and Fixtures | 14,890 | |||
Total | 17,692 | |||
Accumulated Depreciation | $ (5,155) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Gwinett MOP | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,290 | |||
Buildings, Improvements and Fixtures | 7,246 | |||
Cost Capitalized Subsequent to Acquisition | 2,130 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,290 | |||
Buildings, Improvements and Fixtures | 9,376 | |||
Total | 10,666 | |||
Accumulated Depreciation | $ (2,822) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Marietta Health Park | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,276 | |||
Buildings, Improvements and Fixtures | 12,197 | |||
Cost Capitalized Subsequent to Acquisition | 815 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,276 | |||
Buildings, Improvements and Fixtures | 13,012 | |||
Total | 14,288 | |||
Accumulated Depreciation | $ (3,773) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
WellStar Tower MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 748 | |||
Buildings, Improvements and Fixtures | 13,528 | |||
Cost Capitalized Subsequent to Acquisition | 52 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 748 | |||
Buildings, Improvements and Fixtures | 13,580 | |||
Total | 14,328 | |||
Accumulated Depreciation | $ (755) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Shakerag MC | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 12,215 | |||
Initial Cost to Company | ||||
Land | 743 | |||
Buildings, Improvements and Fixtures | 3,290 | |||
Cost Capitalized Subsequent to Acquisition | 1,318 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 743 | |||
Buildings, Improvements and Fixtures | 4,608 | |||
Total | 5,351 | |||
Accumulated Depreciation | $ (1,642) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Overlook at Eagle’s Landing | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 638 | |||
Buildings, Improvements and Fixtures | 6,685 | |||
Cost Capitalized Subsequent to Acquisition | 502 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 638 | |||
Buildings, Improvements and Fixtures | 7,187 | |||
Total | 7,825 | |||
Accumulated Depreciation | $ (1,529) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
SouthCrest MOP | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 4,260 | |||
Buildings, Improvements and Fixtures | 14,636 | |||
Cost Capitalized Subsequent to Acquisition | 1,790 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 4,260 | |||
Buildings, Improvements and Fixtures | 16,426 | |||
Total | 20,686 | |||
Accumulated Depreciation | $ (4,849) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Cherokee Medical Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 16,558 | |||
Cost Capitalized Subsequent to Acquisition | 30 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 16,588 | |||
Total | 16,588 | |||
Accumulated Depreciation | $ (1,035) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
Honolulu MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 14,304 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 27,336 | |||
Cost Capitalized Subsequent to Acquisition | 345 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 27,681 | |||
Total | 27,681 | |||
Accumulated Depreciation | $ (2,020) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
Kapolei Medical Park | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 16,253 | |||
Cost Capitalized Subsequent to Acquisition | 119 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 16,372 | |||
Total | 16,372 | |||
Accumulated Depreciation | $ (1,491) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
Rush Oak Park MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,096 | |||
Buildings, Improvements and Fixtures | 38,550 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,096 | |||
Buildings, Improvements and Fixtures | 38,550 | |||
Total | 39,646 | |||
Accumulated Depreciation | $ (5,843) | |||
Life on Which Building Depreciation in Income Statement is Computed | 38 years | |||
Brownsburg MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 431 | |||
Buildings, Improvements and Fixtures | 639 | |||
Cost Capitalized Subsequent to Acquisition | 248 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 431 | |||
Buildings, Improvements and Fixtures | 887 | |||
Total | 1,318 | |||
Accumulated Depreciation | $ (424) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Athens SC | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 381 | |||
Buildings, Improvements and Fixtures | 3,575 | |||
Cost Capitalized Subsequent to Acquisition | 294 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 381 | |||
Buildings, Improvements and Fixtures | 3,869 | |||
Total | 4,250 | |||
Accumulated Depreciation | $ (1,277) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Crawfordsville MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 318 | |||
Buildings, Improvements and Fixtures | 1,899 | |||
Cost Capitalized Subsequent to Acquisition | 157 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 318 | |||
Buildings, Improvements and Fixtures | 2,056 | |||
Total | 2,374 | |||
Accumulated Depreciation | $ (676) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Deaconess Clinic Downtown | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,748 | |||
Buildings, Improvements and Fixtures | 21,963 | |||
Cost Capitalized Subsequent to Acquisition | 60 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,748 | |||
Buildings, Improvements and Fixtures | 22,023 | |||
Total | 23,771 | |||
Accumulated Depreciation | $ (5,223) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Deaconess Clinic Westside | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 360 | |||
Buildings, Improvements and Fixtures | 3,265 | |||
Cost Capitalized Subsequent to Acquisition | 356 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 360 | |||
Buildings, Improvements and Fixtures | 3,621 | |||
Total | 3,981 | |||
Accumulated Depreciation | $ (828) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Dupont MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 8,246 | |||
Cost Capitalized Subsequent to Acquisition | 27 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 8,273 | |||
Total | 8,273 | |||
Accumulated Depreciation | $ (1,000) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Ft. Wayne MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 6,579 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 6,579 | |||
Total | 6,579 | |||
Accumulated Depreciation | $ (1,335) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Community MP | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 560 | |||
Buildings, Improvements and Fixtures | 3,581 | |||
Cost Capitalized Subsequent to Acquisition | 297 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 560 | |||
Buildings, Improvements and Fixtures | 3,878 | |||
Total | 4,438 | |||
Accumulated Depreciation | $ (1,216) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Eagle Highlands MOP | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,216 | |||
Buildings, Improvements and Fixtures | 11,154 | |||
Cost Capitalized Subsequent to Acquisition | 7,214 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 2,216 | |||
Buildings, Improvements and Fixtures | 18,368 | |||
Total | 20,584 | |||
Accumulated Depreciation | $ (5,433) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Epler Parke MOP | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,556 | |||
Buildings, Improvements and Fixtures | 6,928 | |||
Cost Capitalized Subsequent to Acquisition | 1,037 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,556 | |||
Buildings, Improvements and Fixtures | 7,965 | |||
Total | 9,521 | |||
Accumulated Depreciation | $ (2,630) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Glendale Prof Plaza | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 570 | |||
Buildings, Improvements and Fixtures | 2,739 | |||
Cost Capitalized Subsequent to Acquisition | 1,218 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 570 | |||
Buildings, Improvements and Fixtures | 3,957 | |||
Total | 4,527 | |||
Accumulated Depreciation | $ (1,509) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
MMP Eagle Highlands | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,044 | |||
Buildings, Improvements and Fixtures | 13,548 | |||
Cost Capitalized Subsequent to Acquisition | 2,575 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,044 | |||
Buildings, Improvements and Fixtures | 16,123 | |||
Total | 17,167 | |||
Accumulated Depreciation | $ (5,141) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
MMP East | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,236 | |||
Buildings, Improvements and Fixtures | 9,840 | |||
Cost Capitalized Subsequent to Acquisition | 3,642 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,236 | |||
Buildings, Improvements and Fixtures | 13,482 | |||
Total | 14,718 | |||
Accumulated Depreciation | $ (4,822) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
MMP North | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,518 | |||
Buildings, Improvements and Fixtures | 15,460 | |||
Cost Capitalized Subsequent to Acquisition | 4,219 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,427 | |||
Buildings, Improvements and Fixtures | 19,770 | |||
Total | 21,197 | |||
Accumulated Depreciation | $ (5,911) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
MMP South | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,127 | |||
Buildings, Improvements and Fixtures | 10,414 | |||
Cost Capitalized Subsequent to Acquisition | 1,763 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,127 | |||
Buildings, Improvements and Fixtures | 12,177 | |||
Total | 13,304 | |||
Accumulated Depreciation | $ (3,916) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Southpointe MOP | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,190 | |||
Buildings, Improvements and Fixtures | 7,548 | |||
Cost Capitalized Subsequent to Acquisition | 2,356 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 2,190 | |||
Buildings, Improvements and Fixtures | 9,904 | |||
Total | 12,094 | |||
Accumulated Depreciation | $ (3,138) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Kokomo MOP | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,779 | |||
Buildings, Improvements and Fixtures | 9,614 | |||
Cost Capitalized Subsequent to Acquisition | 1,167 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,779 | |||
Buildings, Improvements and Fixtures | 10,781 | |||
Total | 12,560 | |||
Accumulated Depreciation | $ (3,464) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Deaconess Clinic Gateway | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 10,952 | |||
Cost Capitalized Subsequent to Acquisition | 25 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 10,977 | |||
Total | 10,977 | |||
Accumulated Depreciation | $ (2,277) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Community Health Pavilion | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 5,560 | |||
Buildings, Improvements and Fixtures | 28,988 | |||
Cost Capitalized Subsequent to Acquisition | 713 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 5,560 | |||
Buildings, Improvements and Fixtures | 29,701 | |||
Total | 35,261 | |||
Accumulated Depreciation | $ (1,884) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Zionsville MC | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 655 | |||
Buildings, Improvements and Fixtures | 2,877 | |||
Cost Capitalized Subsequent to Acquisition | 875 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 664 | |||
Buildings, Improvements and Fixtures | 3,743 | |||
Total | 4,407 | |||
Accumulated Depreciation | $ (1,212) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
KS Doctors MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,808 | |||
Buildings, Improvements and Fixtures | 9,517 | |||
Cost Capitalized Subsequent to Acquisition | 1,776 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,808 | |||
Buildings, Improvements and Fixtures | 11,293 | |||
Total | 13,101 | |||
Accumulated Depreciation | $ (3,351) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Nashoba Valley Med Center MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 5,529 | |||
Cost Capitalized Subsequent to Acquisition | 304 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 299 | |||
Buildings, Improvements and Fixtures | 5,534 | |||
Total | 5,833 | |||
Accumulated Depreciation | $ (922) | |||
Life on Which Building Depreciation in Income Statement is Computed | 31 years | |||
670 Albany | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 104,365 | |||
Cost Capitalized Subsequent to Acquisition | 11 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 104,376 | |||
Total | 104,376 | |||
Accumulated Depreciation | $ (4,707) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Tufts Medical Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 70,583 | |||
Initial Cost to Company | ||||
Land | 32,514 | |||
Buildings, Improvements and Fixtures | 109,180 | |||
Cost Capitalized Subsequent to Acquisition | 5,302 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 32,514 | |||
Buildings, Improvements and Fixtures | 114,482 | |||
Total | 146,996 | |||
Accumulated Depreciation | $ (9,329) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
St. Elizabeth’s Med Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 20,929 | |||
Cost Capitalized Subsequent to Acquisition | 2,703 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,379 | |||
Buildings, Improvements and Fixtures | 22,253 | |||
Total | 23,632 | |||
Accumulated Depreciation | $ (3,311) | |||
Life on Which Building Depreciation in Income Statement is Computed | 31 years | |||
Good Samaritan Cancer Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 15,887 | |||
Cost Capitalized Subsequent to Acquisition | 473 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 144 | |||
Buildings, Improvements and Fixtures | 16,216 | |||
Total | 16,360 | |||
Accumulated Depreciation | $ (2,438) | |||
Life on Which Building Depreciation in Income Statement is Computed | 31 years | |||
Pearl Street MOBs | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 7,011 | |||
Initial Cost to Company | ||||
Land | 4,714 | |||
Buildings, Improvements and Fixtures | 18,193 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Total | 22,907 | |||
Accumulated Depreciation | $ 0 | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Carney Hospital MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 7,250 | |||
Cost Capitalized Subsequent to Acquisition | 632 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 530 | |||
Buildings, Improvements and Fixtures | 7,352 | |||
Total | 7,882 | |||
Accumulated Depreciation | $ (1,161) | |||
Life on Which Building Depreciation in Income Statement is Computed | 31 years | |||
St. Anne’s Hospital MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 9,304 | |||
Cost Capitalized Subsequent to Acquisition | 55 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 40 | |||
Buildings, Improvements and Fixtures | 9,319 | |||
Total | 9,359 | |||
Accumulated Depreciation | $ (1,138) | |||
Life on Which Building Depreciation in Income Statement is Computed | 31 years | |||
Norwood Hospital MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 9,489 | |||
Cost Capitalized Subsequent to Acquisition | 186 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 2,295 | |||
Buildings, Improvements and Fixtures | 7,380 | |||
Total | 9,675 | |||
Accumulated Depreciation | $ (1,269) | |||
Life on Which Building Depreciation in Income Statement is Computed | 31 years | |||
Holy Family Hospital MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 4,502 | |||
Cost Capitalized Subsequent to Acquisition | 242 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 168 | |||
Buildings, Improvements and Fixtures | 4,576 | |||
Total | 4,744 | |||
Accumulated Depreciation | $ (871) | |||
Life on Which Building Depreciation in Income Statement is Computed | 31 years | |||
N. Berkshire MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 7,259 | |||
Cost Capitalized Subsequent to Acquisition | 225 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 7,484 | |||
Total | 7,484 | |||
Accumulated Depreciation | $ (1,501) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Morton Hospital MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 15,317 | |||
Cost Capitalized Subsequent to Acquisition | 1,006 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 502 | |||
Buildings, Improvements and Fixtures | 15,821 | |||
Total | 16,323 | |||
Accumulated Depreciation | $ (3,774) | |||
Life on Which Building Depreciation in Income Statement is Computed | 31 years | |||
Stetson MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 3,362 | |||
Buildings, Improvements and Fixtures | 15,555 | |||
Cost Capitalized Subsequent to Acquisition | 164 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 3,362 | |||
Buildings, Improvements and Fixtures | 15,719 | |||
Total | 19,081 | |||
Accumulated Depreciation | $ (1,151) | |||
Life on Which Building Depreciation in Income Statement is Computed | 20 years | |||
Johnston Professional Building | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 13,780 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 21,481 | |||
Cost Capitalized Subsequent to Acquisition | 233 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 21,714 | |||
Total | 21,714 | |||
Accumulated Depreciation | $ (1,765) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
Triad Tech Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 10,846 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 26,548 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 26,548 | |||
Total | 26,548 | |||
Accumulated Depreciation | $ (4,900) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
St. John Providence MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 42,371 | |||
Cost Capitalized Subsequent to Acquisition | 219 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 42,590 | |||
Total | 42,590 | |||
Accumulated Depreciation | $ (8,236) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Fort Road MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,571 | |||
Buildings, Improvements and Fixtures | 5,786 | |||
Cost Capitalized Subsequent to Acquisition | 813 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,571 | |||
Buildings, Improvements and Fixtures | 6,599 | |||
Total | 8,170 | |||
Accumulated Depreciation | $ (1,951) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Gallery Professional Building | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 5,525 | |||
Initial Cost to Company | ||||
Land | 1,157 | |||
Buildings, Improvements and Fixtures | 5,009 | |||
Cost Capitalized Subsequent to Acquisition | 3,351 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,157 | |||
Buildings, Improvements and Fixtures | 8,360 | |||
Total | 9,517 | |||
Accumulated Depreciation | $ (4,037) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Chesterfield Rehab Hospital | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 4,213 | |||
Buildings, Improvements and Fixtures | 27,898 | |||
Cost Capitalized Subsequent to Acquisition | 776 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 4,313 | |||
Buildings, Improvements and Fixtures | 28,574 | |||
Total | 32,887 | |||
Accumulated Depreciation | $ (7,403) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
BJC West County MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,242 | |||
Buildings, Improvements and Fixtures | 13,130 | |||
Cost Capitalized Subsequent to Acquisition | 593 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 2,242 | |||
Buildings, Improvements and Fixtures | 13,723 | |||
Total | 15,965 | |||
Accumulated Depreciation | $ (3,853) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Winghaven MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,455 | |||
Buildings, Improvements and Fixtures | 9,708 | |||
Cost Capitalized Subsequent to Acquisition | 613 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,455 | |||
Buildings, Improvements and Fixtures | 10,321 | |||
Total | 11,776 | |||
Accumulated Depreciation | $ (3,080) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
BJC MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 304 | |||
Buildings, Improvements and Fixtures | 1,554 | |||
Cost Capitalized Subsequent to Acquisition | (952) | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 304 | |||
Buildings, Improvements and Fixtures | 602 | |||
Total | 906 | |||
Accumulated Depreciation | $ (390) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Des Peres MAP II | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 11,386 | |||
Cost Capitalized Subsequent to Acquisition | 1,136 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 12,522 | |||
Total | 12,522 | |||
Accumulated Depreciation | $ (2,676) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Medical Park of Cary | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,931 | |||
Buildings, Improvements and Fixtures | 19,855 | |||
Cost Capitalized Subsequent to Acquisition | 2,623 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 2,931 | |||
Buildings, Improvements and Fixtures | 22,478 | |||
Total | 25,409 | |||
Accumulated Depreciation | $ (5,138) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Rex Cary MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,449 | |||
Buildings, Improvements and Fixtures | 18,226 | |||
Cost Capitalized Subsequent to Acquisition | 224 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,449 | |||
Buildings, Improvements and Fixtures | 18,450 | |||
Total | 19,899 | |||
Accumulated Depreciation | $ (901) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Tryon Office Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,200 | |||
Buildings, Improvements and Fixtures | 14,956 | |||
Cost Capitalized Subsequent to Acquisition | 120 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 2,200 | |||
Buildings, Improvements and Fixtures | 15,076 | |||
Total | 17,276 | |||
Accumulated Depreciation | $ (922) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Duke Fertility Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 596 | |||
Buildings, Improvements and Fixtures | 3,882 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 596 | |||
Buildings, Improvements and Fixtures | 3,882 | |||
Total | 4,478 | |||
Accumulated Depreciation | $ (21) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Hock Plaza II | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 680 | |||
Buildings, Improvements and Fixtures | 27,044 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 680 | |||
Buildings, Improvements and Fixtures | 27,044 | |||
Total | 27,724 | |||
Accumulated Depreciation | $ (140) | |||
Life on Which Building Depreciation in Income Statement is Computed | 36 years | |||
3100 Blue Ridge | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,732 | |||
Buildings, Improvements and Fixtures | 8,891 | |||
Cost Capitalized Subsequent to Acquisition | 305 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,732 | |||
Buildings, Improvements and Fixtures | 9,196 | |||
Total | 10,928 | |||
Accumulated Depreciation | $ (927) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
Raleigh Medical Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,381 | |||
Buildings, Improvements and Fixtures | 15,630 | |||
Cost Capitalized Subsequent to Acquisition | 6,532 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 2,381 | |||
Buildings, Improvements and Fixtures | 22,162 | |||
Total | 24,543 | |||
Accumulated Depreciation | $ (4,233) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Nutfield Professional Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,075 | |||
Buildings, Improvements and Fixtures | 10,320 | |||
Cost Capitalized Subsequent to Acquisition | 745 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,075 | |||
Buildings, Improvements and Fixtures | 11,065 | |||
Total | 12,140 | |||
Accumulated Depreciation | $ (2,836) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Santa Fe 1640 MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 697 | |||
Buildings, Improvements and Fixtures | 4,268 | |||
Cost Capitalized Subsequent to Acquisition | 64 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 697 | |||
Buildings, Improvements and Fixtures | 4,332 | |||
Total | 5,029 | |||
Accumulated Depreciation | $ (943) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Santa Fe 440 MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 842 | |||
Buildings, Improvements and Fixtures | 7,448 | |||
Cost Capitalized Subsequent to Acquisition | 13 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 842 | |||
Buildings, Improvements and Fixtures | 7,461 | |||
Total | 8,303 | |||
Accumulated Depreciation | $ (1,630) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
San Martin MAP | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 14,777 | |||
Cost Capitalized Subsequent to Acquisition | 568 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 15,345 | |||
Total | 15,345 | |||
Accumulated Depreciation | $ (2,762) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Madison Ave MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 83 | |||
Buildings, Improvements and Fixtures | 2,759 | |||
Cost Capitalized Subsequent to Acquisition | 61 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 83 | |||
Buildings, Improvements and Fixtures | 2,820 | |||
Total | 2,903 | |||
Accumulated Depreciation | $ (564) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Patroon Creek HQ | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,870 | |||
Buildings, Improvements and Fixtures | 29,453 | |||
Cost Capitalized Subsequent to Acquisition | 5,152 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,870 | |||
Buildings, Improvements and Fixtures | 34,605 | |||
Total | 36,475 | |||
Accumulated Depreciation | $ (6,682) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Patroon Creek MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,439 | |||
Buildings, Improvements and Fixtures | 27,639 | |||
Cost Capitalized Subsequent to Acquisition | 487 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,439 | |||
Buildings, Improvements and Fixtures | 28,126 | |||
Total | 29,565 | |||
Accumulated Depreciation | $ (5,389) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Washington Ave MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,699 | |||
Buildings, Improvements and Fixtures | 18,440 | |||
Cost Capitalized Subsequent to Acquisition | 489 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,699 | |||
Buildings, Improvements and Fixtures | 18,929 | |||
Total | 20,628 | |||
Accumulated Depreciation | $ (3,887) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Putnam MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 24,216 | |||
Cost Capitalized Subsequent to Acquisition | 100 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 24,316 | |||
Total | 24,316 | |||
Accumulated Depreciation | $ (4,110) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Capital Region Health Park | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,305 | |||
Buildings, Improvements and Fixtures | 37,494 | |||
Cost Capitalized Subsequent to Acquisition | 3,218 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 2,305 | |||
Buildings, Improvements and Fixtures | 40,712 | |||
Total | 43,017 | |||
Accumulated Depreciation | $ (8,136) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Westchester MOBs | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 17,274 | |||
Buildings, Improvements and Fixtures | 41,865 | |||
Cost Capitalized Subsequent to Acquisition | 1,043 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 17,274 | |||
Buildings, Improvements and Fixtures | 42,908 | |||
Total | 60,182 | |||
Accumulated Depreciation | $ (5,049) | |||
Life on Which Building Depreciation in Income Statement is Computed | 29 years | |||
210 Westchester MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 8,628 | |||
Buildings, Improvements and Fixtures | 18,408 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 8,628 | |||
Buildings, Improvements and Fixtures | 18,408 | |||
Total | 27,036 | |||
Accumulated Depreciation | $ (1,493) | |||
Life on Which Building Depreciation in Income Statement is Computed | 31 years | |||
Diley Ridge MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 9,811 | |||
Cost Capitalized Subsequent to Acquisition | 70 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 9,881 | |||
Total | 9,881 | |||
Accumulated Depreciation | $ (475) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Market Exchange MOP | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,326 | |||
Buildings, Improvements and Fixtures | 17,207 | |||
Cost Capitalized Subsequent to Acquisition | 2,794 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 2,326 | |||
Buildings, Improvements and Fixtures | 20,001 | |||
Total | 22,327 | |||
Accumulated Depreciation | $ (5,259) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Polaris MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,447 | |||
Buildings, Improvements and Fixtures | 12,192 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,447 | |||
Buildings, Improvements and Fixtures | 12,192 | |||
Total | 13,639 | |||
Accumulated Depreciation | $ (266) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Gahanna MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,078 | |||
Buildings, Improvements and Fixtures | 5,674 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,078 | |||
Buildings, Improvements and Fixtures | 5,674 | |||
Total | 6,752 | |||
Accumulated Depreciation | $ (62) | |||
Life on Which Building Depreciation in Income Statement is Computed | 30 years | |||
Hilliard MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 946 | |||
Buildings, Improvements and Fixtures | 11,174 | |||
Cost Capitalized Subsequent to Acquisition | 687 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 946 | |||
Buildings, Improvements and Fixtures | 11,861 | |||
Total | 12,807 | |||
Accumulated Depreciation | $ (568) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Hilliard II MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 959 | |||
Buildings, Improvements and Fixtures | 7,260 | |||
Cost Capitalized Subsequent to Acquisition | 3 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 959 | |||
Buildings, Improvements and Fixtures | 7,263 | |||
Total | 8,222 | |||
Accumulated Depreciation | $ (195) | |||
Life on Which Building Depreciation in Income Statement is Computed | 38 years | |||
Park Place MOP | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,987 | |||
Buildings, Improvements and Fixtures | 11,341 | |||
Cost Capitalized Subsequent to Acquisition | 2,594 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,987 | |||
Buildings, Improvements and Fixtures | 13,935 | |||
Total | 15,922 | |||
Accumulated Depreciation | $ (4,797) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Liberty Falls MP | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 842 | |||
Buildings, Improvements and Fixtures | 5,640 | |||
Cost Capitalized Subsequent to Acquisition | 982 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 842 | |||
Buildings, Improvements and Fixtures | 6,622 | |||
Total | 7,464 | |||
Accumulated Depreciation | $ (2,176) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Parma Ridge MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 372 | |||
Buildings, Improvements and Fixtures | 3,636 | |||
Cost Capitalized Subsequent to Acquisition | 823 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 372 | |||
Buildings, Improvements and Fixtures | 4,459 | |||
Total | 4,831 | |||
Accumulated Depreciation | $ (1,351) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Deaconess MOP | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 25,975 | |||
Cost Capitalized Subsequent to Acquisition | 3,455 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 29,430 | |||
Total | 29,430 | |||
Accumulated Depreciation | $ (7,996) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Silverton Health MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 953 | |||
Buildings, Improvements and Fixtures | 6,164 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 953 | |||
Buildings, Improvements and Fixtures | 6,164 | |||
Total | 7,117 | |||
Accumulated Depreciation | $ (129) | |||
Life on Which Building Depreciation in Income Statement is Computed | 35 years | |||
Monroeville MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 3,264 | |||
Buildings, Improvements and Fixtures | 7,038 | |||
Cost Capitalized Subsequent to Acquisition | 466 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 3,264 | |||
Buildings, Improvements and Fixtures | 7,504 | |||
Total | 10,768 | |||
Accumulated Depreciation | $ (1,677) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
2750 Monroe MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,323 | |||
Buildings, Improvements and Fixtures | 22,631 | |||
Cost Capitalized Subsequent to Acquisition | 5,423 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 2,323 | |||
Buildings, Improvements and Fixtures | 28,054 | |||
Total | 30,377 | |||
Accumulated Depreciation | $ (8,409) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Federal North MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,489 | |||
Buildings, Improvements and Fixtures | 30,268 | |||
Cost Capitalized Subsequent to Acquisition | 262 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 2,489 | |||
Buildings, Improvements and Fixtures | 30,530 | |||
Total | 33,019 | |||
Accumulated Depreciation | $ (5,916) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Highmark Penn Ave | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,774 | |||
Buildings, Improvements and Fixtures | 38,921 | |||
Cost Capitalized Subsequent to Acquisition | 2,256 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,774 | |||
Buildings, Improvements and Fixtures | 41,177 | |||
Total | 42,951 | |||
Accumulated Depreciation | $ (6,934) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
WP Allegheny HQ MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,514 | |||
Buildings, Improvements and Fixtures | 32,368 | |||
Cost Capitalized Subsequent to Acquisition | 454 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,514 | |||
Buildings, Improvements and Fixtures | 32,822 | |||
Total | 34,336 | |||
Accumulated Depreciation | $ (5,886) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
39 Broad Street | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 3,180 | |||
Buildings, Improvements and Fixtures | 1,970 | |||
Cost Capitalized Subsequent to Acquisition | 2,447 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 3,475 | |||
Buildings, Improvements and Fixtures | 4,122 | |||
Total | 7,597 | |||
Accumulated Depreciation | $ (65) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Cannon Park Place | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 425 | |||
Buildings, Improvements and Fixtures | 8,651 | |||
Cost Capitalized Subsequent to Acquisition | 629 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 425 | |||
Buildings, Improvements and Fixtures | 9,280 | |||
Total | 9,705 | |||
Accumulated Depreciation | $ (1,706) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
MUSC Elm MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,172 | |||
Buildings, Improvements and Fixtures | 4,361 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,172 | |||
Buildings, Improvements and Fixtures | 4,361 | |||
Total | 5,533 | |||
Accumulated Depreciation | $ (128) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Tides Medical Arts Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 3,763 | |||
Buildings, Improvements and Fixtures | 19,787 | |||
Cost Capitalized Subsequent to Acquisition | 45 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 3,763 | |||
Buildings, Improvements and Fixtures | 19,832 | |||
Total | 23,595 | |||
Accumulated Depreciation | $ (1,528) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
GHS Memorial | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 8,301 | |||
Cost Capitalized Subsequent to Acquisition | 869 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 9,170 | |||
Total | 9,170 | |||
Accumulated Depreciation | $ (1,796) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
GHS MMC | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 20,793 | |||
Initial Cost to Company | ||||
Land | 995 | |||
Buildings, Improvements and Fixtures | 39,158 | |||
Cost Capitalized Subsequent to Acquisition | 1,696 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 995 | |||
Buildings, Improvements and Fixtures | 40,854 | |||
Total | 41,849 | |||
Accumulated Depreciation | $ (8,372) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
GHS MOBs I | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,644 | |||
Buildings, Improvements and Fixtures | 9,144 | |||
Cost Capitalized Subsequent to Acquisition | (792) | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 294 | |||
Buildings, Improvements and Fixtures | 9,702 | |||
Total | 9,996 | |||
Accumulated Depreciation | $ (2,262) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
GHS Patewood MOP | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 64,537 | |||
Cost Capitalized Subsequent to Acquisition | 1,170 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 65,707 | |||
Total | 65,707 | |||
Accumulated Depreciation | $ (13,770) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
GHS Greer MOBs | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,309 | |||
Buildings, Improvements and Fixtures | 14,639 | |||
Cost Capitalized Subsequent to Acquisition | 175 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,309 | |||
Buildings, Improvements and Fixtures | 14,814 | |||
Total | 16,123 | |||
Accumulated Depreciation | $ (3,093) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Hilton Head Heritage MOP | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,125 | |||
Buildings, Improvements and Fixtures | 5,398 | |||
Cost Capitalized Subsequent to Acquisition | (9) | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,125 | |||
Buildings, Improvements and Fixtures | 5,389 | |||
Total | 6,514 | |||
Accumulated Depreciation | $ (1,126) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Hilton Head Moss Creek MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 209 | |||
Buildings, Improvements and Fixtures | 2,066 | |||
Cost Capitalized Subsequent to Acquisition | 45 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 209 | |||
Buildings, Improvements and Fixtures | 2,111 | |||
Total | 2,320 | |||
Accumulated Depreciation | $ (396) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
East Cooper Medical Arts Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,470 | |||
Buildings, Improvements and Fixtures | 6,289 | |||
Cost Capitalized Subsequent to Acquisition | 45 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 2,470 | |||
Buildings, Improvements and Fixtures | 6,334 | |||
Total | 8,804 | |||
Accumulated Depreciation | $ (833) | |||
Life on Which Building Depreciation in Income Statement is Computed | 32 years | |||
East Cooper Medical Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,073 | |||
Buildings, Improvements and Fixtures | 5,939 | |||
Cost Capitalized Subsequent to Acquisition | 1,053 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 2,073 | |||
Buildings, Improvements and Fixtures | 6,992 | |||
Total | 9,065 | |||
Accumulated Depreciation | $ (1,543) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
MUSC University MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,282 | |||
Buildings, Improvements and Fixtures | 8,689 | |||
Cost Capitalized Subsequent to Acquisition | 24 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,282 | |||
Buildings, Improvements and Fixtures | 8,713 | |||
Total | 9,995 | |||
Accumulated Depreciation | $ (617) | |||
Life on Which Building Depreciation in Income Statement is Computed | 36 years | |||
Mary Black MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 12,523 | |||
Cost Capitalized Subsequent to Acquisition | 102 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 12,625 | |||
Total | 12,625 | |||
Accumulated Depreciation | $ (3,138) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Lenox Office Park | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,670 | |||
Buildings, Improvements and Fixtures | 13,626 | |||
Cost Capitalized Subsequent to Acquisition | (691) | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,670 | |||
Buildings, Improvements and Fixtures | 12,935 | |||
Total | 14,605 | |||
Accumulated Depreciation | $ (3,813) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Mountain Empire MOBs | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,296 | |||
Buildings, Improvements and Fixtures | 36,523 | |||
Cost Capitalized Subsequent to Acquisition | 4,578 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,278 | |||
Buildings, Improvements and Fixtures | 41,119 | |||
Total | 42,397 | |||
Accumulated Depreciation | $ (11,284) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Amarillo Hospital | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,110 | |||
Buildings, Improvements and Fixtures | 17,688 | |||
Cost Capitalized Subsequent to Acquisition | 29 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,110 | |||
Buildings, Improvements and Fixtures | 17,717 | |||
Total | 18,827 | |||
Accumulated Depreciation | $ (4,220) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Austin Heart MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 15,172 | |||
Cost Capitalized Subsequent to Acquisition | 138 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 15,310 | |||
Total | 15,310 | |||
Accumulated Depreciation | $ (1,522) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Post Oak North MC | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 887 | |||
Buildings, Improvements and Fixtures | 7,011 | |||
Cost Capitalized Subsequent to Acquisition | (41) | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 887 | |||
Buildings, Improvements and Fixtures | 6,970 | |||
Total | 7,857 | |||
Accumulated Depreciation | $ (774) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Texas A&M Health Science Center | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 32,494 | |||
Cost Capitalized Subsequent to Acquisition | 61 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 32,555 | |||
Total | 32,555 | |||
Accumulated Depreciation | $ (4,198) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Dallas Rehab Hospital | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,919 | |||
Buildings, Improvements and Fixtures | 16,341 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,919 | |||
Buildings, Improvements and Fixtures | 16,341 | |||
Total | 18,260 | |||
Accumulated Depreciation | $ (3,100) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Cedar Hill MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 778 | |||
Buildings, Improvements and Fixtures | 4,830 | |||
Cost Capitalized Subsequent to Acquisition | 144 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 778 | |||
Buildings, Improvements and Fixtures | 4,974 | |||
Total | 5,752 | |||
Accumulated Depreciation | $ (1,540) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Corsicana MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 6,781 | |||
Cost Capitalized Subsequent to Acquisition | 24 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 6,805 | |||
Total | 6,805 | |||
Accumulated Depreciation | $ (1,778) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Dallas LTAC Hospital | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,301 | |||
Buildings, Improvements and Fixtures | 20,627 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 2,301 | |||
Buildings, Improvements and Fixtures | 20,627 | |||
Total | 22,928 | |||
Accumulated Depreciation | $ (4,188) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Forest Park Pavilion | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 9,670 | |||
Buildings, Improvements and Fixtures | 11,152 | |||
Cost Capitalized Subsequent to Acquisition | (1,033) | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 9,670 | |||
Buildings, Improvements and Fixtures | 10,119 | |||
Total | 19,789 | |||
Accumulated Depreciation | $ (1,495) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Forest Park Tower | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 3,340 | |||
Buildings, Improvements and Fixtures | 35,071 | |||
Cost Capitalized Subsequent to Acquisition | 10 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 3,340 | |||
Buildings, Improvements and Fixtures | 35,081 | |||
Total | 38,421 | |||
Accumulated Depreciation | $ (4,673) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Denton Med Rehab Hospital | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 2,000 | |||
Buildings, Improvements and Fixtures | 11,704 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 2,000 | |||
Buildings, Improvements and Fixtures | 11,704 | |||
Total | 13,704 | |||
Accumulated Depreciation | $ (2,817) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Denton MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 7,543 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 7,543 | |||
Total | 7,543 | |||
Accumulated Depreciation | $ (1,546) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Cliff Medical Plaza | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,064 | |||
Buildings, Improvements and Fixtures | 1,972 | |||
Cost Capitalized Subsequent to Acquisition | (14) | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,064 | |||
Buildings, Improvements and Fixtures | 1,958 | |||
Total | 3,022 | |||
Accumulated Depreciation | $ (295) | |||
Life on Which Building Depreciation in Income Statement is Computed | 8 years | |||
Providence Medical Plaza | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 5,396 | |||
Cost Capitalized Subsequent to Acquisition | 328 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 5,724 | |||
Total | 5,724 | |||
Accumulated Depreciation | $ (352) | |||
Life on Which Building Depreciation in Income Statement is Computed | 20 years | |||
Sierra Medical | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 2,998 | |||
Cost Capitalized Subsequent to Acquisition | 124 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 3,122 | |||
Total | 3,122 | |||
Accumulated Depreciation | $ (250) | |||
Life on Which Building Depreciation in Income Statement is Computed | 15 years | |||
Forest Park Frisco MC | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,238 | |||
Buildings, Improvements and Fixtures | 19,979 | |||
Cost Capitalized Subsequent to Acquisition | 1,856 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,238 | |||
Buildings, Improvements and Fixtures | 21,835 | |||
Total | 23,073 | |||
Accumulated Depreciation | $ (2,675) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Greenville MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 616 | |||
Buildings, Improvements and Fixtures | 10,822 | |||
Cost Capitalized Subsequent to Acquisition | 363 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 616 | |||
Buildings, Improvements and Fixtures | 11,185 | |||
Total | 11,801 | |||
Accumulated Depreciation | $ (3,077) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
7900 Fannin MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 34,764 | |||
Cost Capitalized Subsequent to Acquisition | 932 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 35,696 | |||
Total | 35,696 | |||
Accumulated Depreciation | $ (6,748) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Cypress Medical Building MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 4,678 | |||
Cost Capitalized Subsequent to Acquisition | 195 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 4,873 | |||
Total | 4,873 | |||
Accumulated Depreciation | $ (256) | |||
Life on Which Building Depreciation in Income Statement is Computed | 30 years | |||
Cypress Station MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,345 | |||
Buildings, Improvements and Fixtures | 8,312 | |||
Cost Capitalized Subsequent to Acquisition | 878 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,345 | |||
Buildings, Improvements and Fixtures | 9,190 | |||
Total | 10,535 | |||
Accumulated Depreciation | $ (2,888) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Park Plaza MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 5,719 | |||
Buildings, Improvements and Fixtures | 50,054 | |||
Cost Capitalized Subsequent to Acquisition | 352 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 5,719 | |||
Buildings, Improvements and Fixtures | 50,406 | |||
Total | 56,125 | |||
Accumulated Depreciation | $ (2,332) | |||
Life on Which Building Depreciation in Income Statement is Computed | 24 years | |||
Triumph Hospital NW | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,377 | |||
Buildings, Improvements and Fixtures | 14,531 | |||
Cost Capitalized Subsequent to Acquisition | 237 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,377 | |||
Buildings, Improvements and Fixtures | 14,768 | |||
Total | 16,145 | |||
Accumulated Depreciation | $ (4,762) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Lone Star Endoscopy MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 622 | |||
Buildings, Improvements and Fixtures | 3,502 | |||
Cost Capitalized Subsequent to Acquisition | (5) | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 622 | |||
Buildings, Improvements and Fixtures | 3,497 | |||
Total | 4,119 | |||
Accumulated Depreciation | $ (939) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Lewisville MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 452 | |||
Buildings, Improvements and Fixtures | 3,841 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 452 | |||
Buildings, Improvements and Fixtures | 3,841 | |||
Total | 4,293 | |||
Accumulated Depreciation | $ (862) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Terrace Medical Building | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 179 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 179 | |||
Total | 179 | |||
Accumulated Depreciation | $ (39) | |||
Life on Which Building Depreciation in Income Statement is Computed | 5 years | |||
Towers Medical Plaza | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 786 | |||
Cost Capitalized Subsequent to Acquisition | (6) | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 780 | |||
Total | 780 | |||
Accumulated Depreciation | $ (126) | |||
Life on Which Building Depreciation in Income Statement is Computed | 10 years | |||
Pearland MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,602 | |||
Buildings, Improvements and Fixtures | 7,017 | |||
Cost Capitalized Subsequent to Acquisition | (2,573) | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 912 | |||
Buildings, Improvements and Fixtures | 5,134 | |||
Total | 6,046 | |||
Accumulated Depreciation | $ (1,281) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Independence Medical Village | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 4,229 | |||
Buildings, Improvements and Fixtures | 17,874 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 4,229 | |||
Buildings, Improvements and Fixtures | 17,874 | |||
Total | 22,103 | |||
Accumulated Depreciation | $ (369) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
San Angelo MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 3,907 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 3,907 | |||
Total | 3,907 | |||
Accumulated Depreciation | $ (1,010) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Mtn Plains Pecan Valley | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 416 | |||
Buildings, Improvements and Fixtures | 13,690 | |||
Cost Capitalized Subsequent to Acquisition | 711 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 416 | |||
Buildings, Improvements and Fixtures | 14,401 | |||
Total | 14,817 | |||
Accumulated Depreciation | $ (3,465) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Sugar Land II MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 9,648 | |||
Cost Capitalized Subsequent to Acquisition | 270 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 0 | |||
Buildings, Improvements and Fixtures | 9,918 | |||
Total | 9,918 | |||
Accumulated Depreciation | $ (2,908) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Triumph Hospital SW | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,670 | |||
Buildings, Improvements and Fixtures | 14,018 | |||
Cost Capitalized Subsequent to Acquisition | (14) | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,656 | |||
Buildings, Improvements and Fixtures | 14,018 | |||
Total | 15,674 | |||
Accumulated Depreciation | $ (4,696) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Baylor MP | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 865 | |||
Buildings, Improvements and Fixtures | 6,728 | |||
Cost Capitalized Subsequent to Acquisition | (1,147) | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 865 | |||
Buildings, Improvements and Fixtures | 5,581 | |||
Total | 6,446 | |||
Accumulated Depreciation | $ (1,870) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Mtn Plains Clear Lake | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 832 | |||
Buildings, Improvements and Fixtures | 21,168 | |||
Cost Capitalized Subsequent to Acquisition | 1,091 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 832 | |||
Buildings, Improvements and Fixtures | 22,259 | |||
Total | 23,091 | |||
Accumulated Depreciation | $ (5,320) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
N. Texas Neurology MOB | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 736 | |||
Buildings, Improvements and Fixtures | 5,611 | |||
Cost Capitalized Subsequent to Acquisition | (1,758) | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 736 | |||
Buildings, Improvements and Fixtures | 3,853 | |||
Total | 4,589 | |||
Accumulated Depreciation | $ (1,505) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Renaissance MC | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 3,701 | |||
Buildings, Improvements and Fixtures | 24,442 | |||
Cost Capitalized Subsequent to Acquisition | (216) | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 3,701 | |||
Buildings, Improvements and Fixtures | 24,226 | |||
Total | 27,927 | |||
Accumulated Depreciation | $ (5,916) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Aurora - Franklin | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 945 | |||
Buildings, Improvements and Fixtures | 15,336 | |||
Cost Capitalized Subsequent to Acquisition | 2 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 945 | |||
Buildings, Improvements and Fixtures | 15,338 | |||
Total | 16,283 | |||
Accumulated Depreciation | $ (4,275) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Aurora - Menomenee | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 1,055 | |||
Buildings, Improvements and Fixtures | 14,998 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 1,055 | |||
Buildings, Improvements and Fixtures | 14,998 | |||
Total | 16,053 | |||
Accumulated Depreciation | $ (4,508) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Aurora - Mequon | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 950 | |||
Buildings, Improvements and Fixtures | 19,027 | |||
Cost Capitalized Subsequent to Acquisition | (3,029) | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 629 | |||
Buildings, Improvements and Fixtures | 16,319 | |||
Total | 16,948 | |||
Accumulated Depreciation | $ (4,686) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years | |||
Aurora - Milwaukee | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | ||||
Encumbrances | $ 0 | |||
Initial Cost to Company | ||||
Land | 350 | |||
Buildings, Improvements and Fixtures | 5,508 | |||
Cost Capitalized Subsequent to Acquisition | 0 | |||
Gross Amount at Which Carried at Close of Period | ||||
Land | 350 | |||
Buildings, Improvements and Fixtures | 5,508 | |||
Total | 5,858 | |||
Accumulated Depreciation | $ (1,643) | |||
Life on Which Building Depreciation in Income Statement is Computed | 39 years |
Schedule III - Real Estate an84
Schedule III - Real Estate and Accumulated Depreciation - Rollforward of Accumulated Depreciation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
SEC Schedule III, Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | |||
Balance as of the beginning of the year | $ 474,223 | $ 383,966 | $ 308,173 |
Additions | 117,282 | 101,194 | 87,854 |
Dispositions | (10,000) | (10,937) | (12,061) |
Balance as of the end of the year | 581,505 | 474,223 | 383,966 |
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||
Accumulated depreciation lease intangibles | $ 236,100 | $ 201,900 | $ 166,000 |
Tenant Improvements | Minimum | |||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||
Estimated useful life | 1 month | ||
Tenant Improvements | Maximum | |||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||
Estimated useful life | 193 months | ||
Furniture and Fixtures | |||
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||
Estimated useful life | 5 years |
Schedule IV - Mortgage Loans 85
Schedule IV - Mortgage Loans on Real Estate Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Movement in Mortgage Loans on Real Estate [Roll Forward] | |||
Balance as of the beginning of the year | $ 0 | $ 0 | $ 28,520 |
Additions: | |||
New mortgage loans | 12,737 | 0 | 11,924 |
Deductions: | |||
Mortgage loan included in the consideration for the acquisition of a building | 0 | 0 | (11,924) |
Collection of mortgage loans | 0 | 0 | (28,520) |
Balance as of the end of the year | $ 12,737 | $ 0 | $ 0 |