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Real Estate Property Investments
3 Months Ended
Mar. 31, 2014
Real Estate Property Investments  
Real Estate Property Investments

(3)         Real Estate Property Investments

 

During the three months ended March 31, 2014, the Company acquired land for a senior housing community development project for $7 million, subject to a 15 percent noncontrolling interest. During the three months ended March 31, 2013, the Company acquired the four remaining senior housing communities from a joint venture between Emeritus Corporation (“Emeritus”) and Blackstone Real Estate Partners VI for $38 million and acquired 38 acres of land to be developed for use in the post-acute/skilled nursing segment for $0.4 million.

 

During the three months ended March 31, 2014 and 2013, the Company funded an aggregate of $49 million and $42 million, respectively, for construction, tenant and other capital improvement projects, primarily in its senior housing, life science and medical office segments.