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Real Estate Property Investments (Tables) | 9 Months Ended
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Sep. 30, 2016
Real Estate Property Investments |
Schedule of real estate acquisitions (in thousands) | A summary of real estate acquisitions for the nine months ended September 30, 2016 follows (in thousands):
|  | Consideration |  | Assets Acquired(1) |
|  |  |  | Mortgage and Other |  |  |  |  | Net |
Segment |  | Cash Paid |  | Liabilities Assumed |  | Real Estate |  | Intangibles |
SH NNN |  | $ | 76,362 |  | $ | 1,200 |  | $ | 71,875 |  | $ | 5,687 |
SHOP |  |  | 113,971 |  |  | 76,931 |  |  | 177,551 |  |  | 13,351 |
Life Science |  |  | 49,000 |  |  | — |  |  | 47,400 |  |  | 1,600 |
Other |  |  | 17,909 |  |  | — |  |  | 16,596 |  |  | 1,313 |
|  | $ | 257,242 |  | $ | 78,131 |  | $ | 313,422 |  | $ | 21,951 |
| (1) |  | The purchase price allocations are preliminary and may be subject to change. Revenues and earnings since the acquisition dates as well as the supplementary pro forma information, assuming these acquisitions occurred as of the beginning of the prior periods, were not material.
A summary of real estate acquisitions for the nine months ended September 30, 2015 follows (in thousands):
|  | Consideration |  | Assets Acquired(1) |
|  | Cash Paid/ |  | Liabilities |  | Noncontrolling |  |  |  |  | Net |
Segment |  | Debt Settled |  | Assumed |  | Interest |  | Real Estate |  | Intangibles |
SH NNN |  | $ | 208 |  | $ | — |  | $ | — |  | $ | 208 |  | $ | — |
SHOP |  |  | 103,296 |  |  | 1,373 |  |  | 3,885 |  |  | 102,579 |  |  | 5,975 |
Medical office |  |  | 377,351 | (2) |  | 12,849 |  |  | — |  |  | 349,649 |  |  | 40,551 |
Other |  |  | 296,226 | (3) |  | 6,854 |  |  | — |  |  | 257,960 |  |  | 45,120 |
|  | $ | 777,081 |  | $ | 21,076 |  | $ | 3,885 |  | $ | 710,396 |  | $ | 91,646 |
(1)Revenues and earnings since the acquisition dates as well as the supplementary pro forma information, assuming these acquisitions occurred as of the beginning of the prior periods, were not material. (2)Includes $225 million for a medical office building (“MOB”) portfolio acquisition completed in June 2015 and placed in HCP Ventures V, of which, in October 2015, the Company issued a 49% noncontrolling interest for $110 million (see Note 12). (3)Includes £174 million ($254 million) of the Company’s HC-One Facility (see Note 6) converted to fee ownership in a portfolio of 36 care homes located throughout the United Kingdom (“U.K.”).
Schedule of unaudited pro forma consolidated results of operations (in thousands, except per share amounts) | The following unaudited pro forma consolidated results of operations assume that the RIDEA III acquisition was completed as of January 1, 2014 (in thousands, except per share data):
|  | Nine Months Ended |
|  | September 30, 2015 |
Revenues |  | $ | 1,963,402 |
Net income |  |  | 56,009 |
Net income applicable to HCP, Inc. |  |  | 46,662 |
Basic earnings per common share |  |  | 0.10 |
Diluted earnings per common share |  |  | 0.10 |
Schedule of capital improvements (in thousands) | The following table summarizes the Company’s funding for construction, tenant and other capital improvements (in thousands):
|  | Nine Months Ended September 30,
Segment |  | 2016 |  | 2015
SH NNN |  | $ | 35,687 |  | $ | 27,289
SHOP |  |  | 55,795 |  |  | 49,351
Life science |  |  | 152,739 |  |  | 80,871
Medical office |  |  | 88,523 |  |  | 93,012
Other |  |  | 6,840 |  |  | 3,406
|  | $ | 339,584 |  | $ | 253,929

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