Forward-looking statements are not guarantees of future performance. Some of these statements may include projections of financial measures that may not be updated until the next earnings announcement or at all. Events prior to the company's next earnings announcement could render the forward-looking statements untrue, and the company expressly disclaims any obligation to update earlier statements as a result of new information.
Additionally, certain non-GAAP financial measures will be discussed during the course of this call. We have provided reconciliations of these measures to the most comparable GAAP measures, as well as certain related disclosures in our supplemental information package and earnings release, each of which has been furnished to the SEC today and is available on our website at www.hcpi.com.
I will now turn the call over to our Chairman and CEO, Jay Flaherty.
James F. FlahertyThank you, John. Welcome to our Second Quarter Earnings Conference Call. Joining me today are HCP's Executive Vice President, Chief Investment Officer, Paul Gallagher; and Executive Vice President, Chief Financial Officer, Tim Schoen. We are enjoying significant momentum, allowing us to increase our FFO, our FAD and our Same Property Performance 2012 guidance, realized a significant reduction in our cost of capital and announced $500 million of acquisitions and an additional $100 million commitment. First, we'll begin with a review of the quarterly results we announced this morning. Tim? Timothy M. Schoen Thank you, Jay. Today, I will cover 4 topics: second quarter results; investment transactions; financing activities and balance sheet; and finally updated 2012 guidance. Let me start with our second quarter results. Our same-property portfolio continued to perform well, generating a solid 3.1% cash NOI growth compared to the second quarter last year. The results were primarily driven by contractual rent increases and occupancy gains in our life science and medical office portfolios. Paul will review our operating performance by segment in a few minutes.