For the second quarter, we reported FFO of $0.69 per share and FAD of $0.56 per share, which included a $7 million or $0.02 charge related to insurance recovery of past G&A expenses. On a year-over-year basis, FFO as adjusted decreased $0.08 per share and FAD decreased $0.06. The decrease resulted from one-time income totaling $41 million or $0.10 per share, primarily related to the gain from monetizing our Genesis debt investment in the second quarter of 2011. Excluding the one-time items from both periods, year-over-year, second quarter FFO as adjusted was flat, and FAD increased by $0.02 per share or 3.8%.

Switching to investment transactions. Subsequent to the end of the first quarter, we announced $559 million of investments encompassing 4 different property types and 3 different investment products within our 5x5 business model. These transactions are immediately accretive to earnings and include: one, the GBP 137 million or $215 million debt investment in U.K.-based Four Seasons Health Care at a yield of 12.5% in late June; two, $274 million acquisitions of on-campus MOB portfolios that represent 1.2 million square feet in total and include a DownREIT component with equity units valued at $41 million, and the assumption of $59 million of mortgage debt at a blended rate of 5.7%. We expect to close these acquisitions on or before August 31.

Three, we made other additional investments of $70 million during the quarter, including $48 million of development and capital improvements, $8 million for a pre-leased life science development with Duke University and funding for one additional senior housing development loan under our program, bringing the total of committed projects to 6.

Turning now to financing activities and balance sheet. On a capital raising front, we've generated total gross proceeds of $890 million in June and July, consisting of $376 million of common stock, $300 million of 10-year senior unsecured notes at a coupon of 3.15% and GBP 137 million 4-year term loan that serves as a hedge of our debt investment in Four Seasons Health Care. We concurrently entered into a 4-year interest rate swap that fixes the interest rate at 1.81% plus transaction cost of 17 basis points per year.

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