(3) Real Estate Property Investments

On June 6, 2014, the Company acquired a portfolio of 20 care homes for $127 million (£75.8 million) subject to long-term triple-net leases. These facilities are located throughout the United Kingdom (“UK”) and are leased to Maria Mallaband Care Group. The triple-net leases have initial terms of 15 years, plus two 10-year extension options and provide for initial annual rent of $9.7 million (£5.8 million). The cross-defaulted contractual rents will increase annually based on the Retail Price Index (UK measure of inflation), subject to a floor of 2% and a ceiling of 4.5%.

A summary of real estate acquisitions for the six months ended June 30, 2014 follows (in thousands):

	Consideration								Assets Acquired
Segment	Cash Paid			Debt and Other Liabilities Assumed		Noncontrolling Interest			Real Estate		Net Intangibles
Senior housing	$	215,381	(1)	$	1	$	6,321	(2)	$	204,758	$	16,945
Life science	43,500			250		—			41,281		2,469
Medical office	26,548			272		—			22,820		4,000
	$	285,429		$	523	$	6,321		$	268,859	$	23,414

(1) Includes £75.8 million translated into U.S. dollars.

(2) Includes $5 million of non-managing member limited liability company units.

During the six months ended June 30, 2013, the Company acquired four senior housing communities from a joint venture between Emeritus Corporation (“Emeritus”) and Blackstone Real Estate Partners VI for $38 million, acquired a senior housing facility for $18 million, exercised its purchase option for a senior housing facility it previously leased for $16 million and acquired 38 acres of land in the post-acute/skilled nursing segment for $408,000.

During the six months ended June 30, 2014 and 2013, the Company funded an aggregate of $101 million and $76 million, respectively, for construction, tenant and other capital improvement projects, primarily in its senior housing, life science and medical office segments.