Note 13. Pro Forma Information

In January 2015, we acquired 23 properties for an aggregate purchase price of $539,000, excluding closing costs and working capital adjustments and including the assumption of $29,955 of mortgage debts with a weighted average annual interest rate of 4.73%. We recognized rental income and property operating expenses from this acquisition of $27,412 and $4,250, respectively, for the nine months ended September 30, 2015. In February 2015, we sold 31,050,000 of our common shares in a public offering raising net proceeds of approximately $659,496 after underwriting discounts and expenses.

In May and September 2015, we acquired 39 senior living communities for an aggregate purchase price of $818,000, excluding closing costs, and including the assumption of $151,477 of mortgage debts with a weighted average annual interest rate of 4.57%. Twenty of the 39 communities are triple net leased, and we recognized rental income from these 20 communities of $14,264 for the nine months ended September 30, 2015. We recognized residents fees and services and property operating expenses for the remaining 19 managed senior living communities of $22,235 and $15,714, respectively, for the nine months ended September 30, 2015. In September 2015, we entered into a $200,000 term loan agreement, which requires interest at a rate of LIBOR plus a premium of 180 basis points.

During 2014, we purchased two senior living communities and two MOBs (three buildings) for $1,204,393, excluding closing costs. We also assumed $15,630 of mortgage debt at an annual interest rate of 6.28% related to one of our 2014 acquisitions. In April 2014, we issued 15,525,000 common shares in a public offering, raising net proceeds of approximately $322,807 after underwriting discounts and expenses. Also in April 2014, we issued $400,000 of 3.25% senior unsecured notes due 2019 and $250,000 of 4.75% senior unsecured notes due 2024, raising net proceeds of approximately $644,889 after underwriting discounts and expenses. In May 2014, we entered into a $350,000 term loan agreement, which requires interest at a rate of LIBOR plus a premium of 140 basis points.

The following table presents our pro forma results of operations for the nine months ended September 30, 2015 and 2014 as if the 2015 and 2014 acquisition and financing activities described in the three preceding paragraphs had occurred on January 1, 2014, and January 1, 2013, respectively. This pro forma data is not necessarily indicative of what our actual results of operations would have been for the periods presented, nor does it represent the results of operations for any future period. Differences could result from numerous factors, including future changes in our portfolio of investments, changes in interest rates, changes in our capital structure, changes in property level operating expenses, changes in property level revenues, including rents expected to be received from our existing leases or leases we may enter into during and after 2015, and for other reasons.


	Nine Months Ended
	September 30,		September 30,
	2015		2014
Total revenues	$	765,933		758,825
Net income	$	113,588		94,888
Net income per share	$	0.48		0.40