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Real Estate Property Investments | 9 Months Ended
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Sep. 30, 2017
Real Estate [Abstract] |
Real Estate Property Investments | Real Estate Property Investments Investments in Real Estate The following table summarizes the Company’s real estate acquisitions for the nine months ended September 30, 2017 (in thousands):
|  | Consideration |  | Assets Acquired
Segment |  | Cash Paid/ Debt Settled |  | Liabilities Assumed |  | Real Estate |  | Net Intangibles
Life science |  | $ | 87,467 |  |  | $ | 2,841 |  |  | $ | 91,208 |  |  | $ | (900 | )
Medical office |  | 48,349 |  |  | 837 |  |  | 44,401 |  |  | 4,785 |
|  | $ | 135,816 |  |  | $ | 3,678 |  |  | $ | 135,609 |  |  | $ | 3,885 |
The following table summarizes the Company’s real estate acquisitions for the nine months ended September 30, 2016 (in thousands):
|  | Consideration |  | Assets Acquired
Segment |  | Cash Paid/ Debt Settled |  | Liabilities Assumed |  | Real Estate |  | Net Intangibles
Senior housing triple-net |  | $ | 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 non-reportable segments |  | 17,909 |  |  | — |  |  | 16,596 |  |  | 1,313 |
|  | $ | 257,242 |  |  | $ | 78,131 |  |  | $ | 313,422 |  |  | $ | 21,951 |
In October 2017, the Company entered into definitive agreements to acquire a $228 million life science campus known as the Hayden Research Campus located in the Boston suburb of Lexington, Massachusetts. The Company will own an interest in this campus through a consolidated joint venture with King Street Properties. The campus includes two existing buildings totaling 400,000 square feet and is currently 66% leased. Impairments of Real Estate During the third quarter 2017, the Company determined that 11 underperforming senior housing triple-net assets that are candidates for potential future sale were impaired. Accordingly, the Company wrote-down the carrying amount of these 11 assets to their fair value, which resulted in an aggregate impairment charge of $23 million. The fair value of the assets was based on forecasted sales prices which are considered to be Level 2 measurements within the fair value hierarchy. Casualty-Related Losses As a result of Hurricane Harvey and Hurricane Irma during the third quarter of 2017, the Company recorded an estimated $11 million of casualty-related losses, net of a small insurance recovery. The losses are comprised of $6 million of property damage and (ii) $5 million of other associated costs, including storm preparation, clean up, relocation and other costs. Of the total $11 million casualty losses incurred, $10 million was recorded in Other income (expense), net, and $1 million was recorded in Equity income (loss) from unconsolidated joint ventures as it relates to casualty losses for properties owned by certain of our unconsolidated joint ventures. In addition, the Company recorded a $2 million deferred tax benefit associated with the casualty-related losses.

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -URI http://asc.fasb.org/topic&trid=2156125 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 972 -URI http://asc.fasb.org/topic&trid=2134617 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 978 -URI http://asc.fasb.org/topic&trid=2134977 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 974 -URI http://asc.fasb.org/topic&trid=2156429 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 976 -URI http://asc.fasb.org/topic&trid=2134846 + Details
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