Real Estate Properties (Tables)

12 Months Ended

Dec. 31, 2012

Senior Living Leased Community

Date	Location			Purchase Price⁽¹⁾		Land		Buildings and Improvements		FF&E		Intangible Assets		Assumed Debt		Premium on Assumed Debt

Senior Living Leased Acquisitions through December 31, 2012:
July 2012⁽²⁾	Various	4	511	$	36,500	$	4,100	$	29,728	$	1,400	$	1,900	$	6,876	$	628

		4	511	$	36,500	$	4,100	$	29,728	$	1,400	$	1,900	$	6,876	$	628

Senior Living Leased Acquisitions through December 31, 2011:
May 2011⁽³⁾	IL	1	73	$	7,500	$	200	$	6,925	$	375	$	—	$	—	$	—
June 2011⁽³⁾	Various	4	523		82,073		6,145		72,757		3,171		—		11,458		—
July 2011⁽³⁾	FL	1	83		10,235		890		8,728		617		—		—		—

		6	679	$	99,808	$	7,235	$	88,410	$	4,163	$	—	$	11,458	$	—

(1): Purchase price includes the assumption of mortgage debt, if any, and excludes closing costs. The allocation of the purchase price of certain of our acquisitions shown above is based upon preliminary estimates of the fair value of assets acquired and liabilities assumed. Consequently, amounts preliminarily allocated to assets acquired and liabilities assumed could change significantly from those used in these consolidated financial statements.
(2): We leased these properties to subsidiaries of Stellar Senior Living, LLC, or Stellar, for an initial term expiring in 2027 for initial rent of approximately $2,920 per year. Percentage rent, based on increased in gross revenues at these properties, will commence in 2014.
(3): We leased these properties to Five Star and added them to existing leases with Five Star for initial rent of approximately $7,531 per year. Percentage rent, based on increases in gross revenues at these properties, will commence in 2013.

Senior Living Managed Community

Date	Location			Purchase Price⁽¹⁾		Land		Buildings and Improvements		FF&E		Intangible Assets		Assumed Debt		Premium on Assumed Debt

Senior Living Managed Communities Acquisitions through December 31, 2012:
February 2012	AL	1	92	$	11,300	$	1,300	$	9,071	$	346	$	583	$	—	$	—
May 2012	SC	1	59		8,059		1,092		6,405		200		362		4,789		—
July 2012	SC	1	232		37,273		3,898		30,670		943		1,762		—		—
August 2012	NY	1	310		99,000		8,460		87,492		3,069		2,726		31,187		2,747
August 2012	MO	1	87		11,280		260		10,852		530		330		5,838		692
December 2012	TN	1	90		11,550		800		10,000		322		428		—		—
December 2012	TX	1	78		9,000		1,440		6,879		246		435		—		—

		7	948	$	187,462	$	17,250	$	161,369	$	5,656	$	6,626	$	41,814	$	3,439

Senior Living Managed Communities Acquisitions through December 31, 2011:
June 2011	Various	10	824	$	114,521	$	10,293	$	99,270	$	4,958	$	—	$	36,605	$	—
July 2011	FL	2	269		34,436		1,300		31,989		1,147		—		12,757		—
August 2011	FL	1	121		17,158		2,390		14,369		399		—		12,459		—
December 2011	Various	8	1,916		379,000		49,180		320,370		9,450		—		130,752		—
December 2011	CA	1	57		11,300		2,010		8,951		339		—		—		—

		22	3,187	$	556,415	$	65,173	$	474,949	$	16,293	$	—	$	192,573	$	—

(1): Purchase price includes the assumption of mortgage debt, if any, and excludes closing costs. The allocation of the purchase price of certain of our acquisitions shown above is based upon preliminary estimates of the fair value of assets acquired and liabilities assumed. Consequently, amounts preliminarily allocated to assets acquired and liabilities assumed could change significantly from those used in these consolidated financial statements.

MOB

Date	Location			Purchase Price⁽¹⁾		Land		Buildings and Improvements		Acquired Real Estate Leases		Acquired Real Estate Lease Obligations		Assumed Debt		Premium on Assumed Debt

MOB Acquisitions through December 31, 2012:
May 2012	GA	1	28,440	$	8,600	$	1,080	$	6,138	$	1,392	$	10	$	—	$	—
May 2012	GA	1	111,538		23,100		3,500		13,179		6,421		—		—		—
June 2012	HI	1	204,429		70,495		11,200		55,618		4,306		629		52,000		—
June 2012	MD	1	92,180		18,250		1,900		12,858		3,570		78		—		—
July 2012	TX	1	63,082		16,850		990		13,887		1,973		—		—		—
July 2012	FL	1	52,858		7,750		1,620		5,341		789		—		—		—
September 2012	MA	1	33,600		16,400		1,443		14,153		1,812		—		11,462		1,008
November 2012	TN	1	33,796		9,200		1,528		6,590		1,132		50		—		—
December 2012	MN	1	76,637		15,100		2,774		9,276		4,087		183		9,641		854
December 2012	CO	2	62,418		16,400		1,437		11,777		3,196		10		—		—
December 2012	TX	2	80,216		23,550		3,116		16,439		4,006		11		—		—

		13	839,194	$	225,695	$	30,588	$	165,256	$	32,684	$	971	$	73,103	$	1,862

MOB Acquisitions through December 31, 2011:
January 2011	Various	6	737,018	$	95,870	$	16,210	$	72,043	$	9,217	$	1,600	$	—	$	—
January 2011	MN	1	84,474		14,150		1,220		10,208		2,722		—		—		—
May 2011	MN	1	49,809		7,200		1,300		4,548		1,403		51		—		—
June 2011⁽²⁾	FL	3	125,990		14,550		2,600		11,551		599		200		—		—
July 2011⁽²⁾	FL	1	32,321		5,200		570		4,276		354		—		3,653		—
September 2011	Various	13	1,310,664		167,000		28,960		108,809		31,150		1,919		—		—
November 2011	VA	2	45,645		11,425		930		8,598		1,897		—		9,633		—
December 2011	IN	1	94,238		21,000		1,830		14,303		4,867		—		—		—

		28	2,480,159	$	336,395	$	53,620	$	234,336	$	52,209	$	3,770	$	13,286	$	—

(1): Purchase price includes the assumption of mortgage debt, if any, and excludes closing costs. The allocation of the purchase price of certain of our acquisitions shown above is based upon preliminary estimates of the fair value of assets acquired and liabilities assumed. Consequently, amounts preliminarily allocated to assets acquired and liabilities assumed could change significantly from those used in these consolidated financial statements.
(2): In August 2011, we acquired 47 acres of land adjacent to these four MOBs for future development for an additional $4,000, excluding closing costs.