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Pro Forma Information (unaudited) | 12 Months Ended
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Dec. 31, 2015
Pro Forma Information (unaudited) |
Pro Forma Information (unaudited) | Note 13. Pro Forma Information (unaudited) In January 2015, we acquired 23 properties aggregate purchase price of $539,000, excluding net credits received of $7,377 related to debt assumption costs and outstanding tenant improvement allowances and excluding closing costs, and including the assumption of approximately $29,995 of mortgage debts with a weighted average annual interest rate of 4.73%. We recognized rental income, property operating expenses and interest expense from this acquisition of $38,593, $6,833 and $1,000, respectively, for the year ended December 31, 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 $808,250, 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 $23,756 and interest expense of $1,427 for the year ended December 31, 2015. We recognized residents fees and services, property operating expenses and interest expense for the remaining 19 managed senior living communities of $35,814, $25,514 and $2,774, respectively, for the year ended December 31, 2015. Also in May 2015, we acquired one managed senior living community for approximately $9,750, excluding closing costs. This is a newly constructed community and is located adjacent to another community that we own. The operations of this community and the community we previously owned are now conducted as a single integrated community under one management agreement. 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 $1,210,014. We also assumed $15,630 of mortgage debt with an annual interest rate of 6.28% related to one of our 2014 acquisitions. We recognized residents fees and services and property operating expenses of $887 and $647, respectively, for the year ended December 31, 2014 for the two senior living community acquisitions we acquired in 2014. We recognized rental income, property operating expenses and interest expense of $67,294, $14,179 and $631, respectively, for the year ended December 31, 2014 for the two MOBs (three buildings) we acquired in 2014. In April 2014, we issued 15,525,000 common shares in a public offering, raising net proceeds of approximately $322,80 7. Also in April 2014, we sold $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. In May 2014, we entered into a $350,000 term loan agreement, which bears 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 years ended December 31, 2015 and 2014 as if the 2015 and 2014 acquisition (excluding the newly constructed managed senior living community) and financing activities described in the 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.
|  | For the Year Ended |
|  | December 31, |
|  | 2015 |  | 2014 |
Total revenues |  | $ | 1,033,591 |  | $ | 1,024,821 |
Net income |  | $ | 135,181 |  | $ | 171,893 |
Per common share data (basic and diluted): |  |  |  |  |  |  |
Net income |  | $ | 0.57 |  | $ | 0.73 |

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