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Subsequent Events | 3 Months Ended
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Mar. 31, 2020
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events COVID-19 Pandemic In March 2020, the World Health Organization declared the outbreak caused by COVID-19 to be a global pandemic. While COVID-19 continues to evolve daily and its ultimate outcome is uncertain, it has caused significant disruption to individuals, governments, financial markets, and businesses, including the Company. In response to the COVID-19 pandemic, local, state and federal agencies have instituted stay-at-home or shelter-in-place orders, which resulted in closure of many businesses deemed to be non-essential. These health and safety measures, which may remain in place for a significant amount of time, are placing a substantial strain on the business operations of many of the Company’s tenants, operators, and borrowers. The Company evaluated the impacts of COVID-19 on its business thus far and incorporated, wherever possible, information concerning the impact of COVID-19 into its assessments of liquidity, impairments, and collectibility from tenants and borrowers as of March 31, 2020. Subsequent to March 31, 2020, the Company has agreed to defer rent for May and June 2020 from certain tenants in the MOB segment, with the requirement that all deferred rent is repaid by the end of 2020. Additionally, the Company has received rent relief requests from certain tenants, which we are assessing on a tenant-by-tenant basis, but at this time has not agreed to grant any such relief. The extent of the impact of the COVID-19 pandemic on the Company’s business and financial results will depend on future developments, including the duration, severity, and spread of the pandemic, health and safety actions taken to contain its spread, any possible resurgence of COVID-19 that may occur after the initial outbreak subsides, and how quickly and to what extent normal economic and operating conditions can resume within the markets in which the Company operates, each of which are highly uncertain at this time and outside of the Company’s control. At this time, the Company is unable to estimate the impact of this event on its operations or future financial results. The Post Acquisition As discussed in Note 4, in January 2020, the Company entered into definitive agreements to acquire a life science campus in Waltham, Massachusetts for $320 million. The Company made a $20 million nonrefundable deposit upon completing due diligence in January 2020 and closed the acquisition in April 2020. Dispositions of Real Estate In April 2020, the Company sold one SHOP asset for $12 million. Additionally, in April 2020, one of the Company’s tenants exercised its option to acquire three MOBs in San Diego, California for $106 million. The Company received a $5 million nonrefundable deposit in May 2020. The sale is scheduled to close during the second quarter of 2020.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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