Our hospitals, skilled nursing facilities, and senior housing facilities are typically leased on a triple-net basis with initial terms that range from five to 15 years, and generally have one or more renewal options.
As of December 31, 2005, the weighted average remaining term, excluding unexercised renewal options, on these triple-net leased properties is approximately eight years.
Operating Properties: Our operating properties are typically multi-tenant medical office buildings that are leased to multiple healthcare providers (hospitals and physician practices) under a gross, modified gross or net lease structure.
Under a gross or modified gross lease, all or a portion of operating expenses are not reimbursed by tenants.
Most of our owned MOBs are managed by third party property management companies and 19 are leased on a net basis while 88 are leased to multiple tenants under gross or modified gross leases pursuant to which we are responsible for certain operating expenses.
Regardless of lease structure, most of our leases at operating properties include annual base rent escalation clauses that are either predetermined fixed increases or are a function of an inflation index, and typically have an initial term ranging from one to fourteen years, with a weighted average remaining term of approximately five years as of December 31, 2005.
The following table reflects the reduction in revenue (based on 2005 revenue) for owned triple-net leased and operating properties resulting from lease expirations, absent the impact of renewals, if any (in thousands):
## Table 0 ##
Development Properties: We generally commit to development projects when they are at least 50% pre-leased.
We use internal and external construction management expertise to evaluate local market conditions, construction costs and other factors to seek appropriate risk adjusted returns.
During 2005, we completed and placed into service approximately $5 million of owned development properties.
In addition, during 2005, HCP MOP completed and placed into service approximately $8 million of development properties.
As of December 31, 2005, we have an interest in four properties under development.
Secured Loan Investments We have investments in 13 mortgage loans secured by 25 properties that are owned and operated by 11 healthcare providers.
Our secured loan investments typically consist of senior mortgages or mezzanine financing on individual properties or a pool of properties.
At December 31, 2005, the carrying amount of these mortgage loans totaled $175.4 million.
Initial interest rates on mortgage loans outstanding at December 31, 2005 range from 7.5% to 13.5% per annum.
At December 31, 2005, minimum future principal payments to be received on secured loans receivable are $66.5 million in 2006, $8.8 million in 2007, $2.4 million in 2008, $7.2 million in 2009, $39.8 million in 2010, and $50.7 million thereafter.
Our mortgage loans generally include prepayment penalties or yield maintenance provisions.
December 31, 2006 ranged from 7.5% to 13.5% per annum.
Our mortgage loans generally include prepayment penalties or yield maintenance provisions.
At December 31, 2006 we had investments in 32 properties that are accounted for under direct financing leases with original terms that range from five to 35 years.
Certain leases contain provisions that allow the tenants to elect to purchase the properties during or at the end of the lease terms for the aggregate initial investment amount plus adjustments, if any, as defined in the lease agreements.
We also have investments in senior secured second lien notes of HCA Inc. , which are classified as debt securities and are recorded at fair value.
At December 31, 2006, the fair value of these senior secured notes was $322.5 million and they are classified as available for sale.
These notes accrue interest at a rate of 9.625%, mature in 2016, and are secured by second-priority liens on HCA’s and its subsidiary guarantors’ assets.
The issuer of these notes may elect to pay interest in cash, by increasing the principal amount of the notes for the entire amount of the interest payments, or by paying half of the interest in cash and half in additional notes.
The first payment due on May 15, 2007 is payable only in cash.
After November 15, 2011, all interest on these notes will be payable in cash.
If the issuer elects to pay with additional principal amounts or additional notes, the accrual rate is at 10.375%.
Operator Concentration The following table provides information about the concentration of business with our top five operators for the year ended December 31, 2006 (dollars in thousands):
## Table 1 ##
(1) Represents the carrying amount of real estate assets, including intangibles, after adding back accumulated depreciation and amortization.
(2) 106 properties managed by Sunrise and six properties managed by Brookdale were acquired from CRP on October 5, 2006.
All of our properties associated with the aforementioned operators are primarily under triple-net leases.
These operators, excluding Summerville, are subject to the informational filing requirements of the Securities Exchange Act of 1934, as amended, and are required to file periodic reports with the Securities and Exchange Commission.
Financial and other information relating to these operators may be obtained from their public reports.
According to public disclosures by Tenet and Sunrise, these companies are experiencing various legal, financial, and regulatory difficulties.
We cannot predict with certainty the impact, if any, of the outcome of these uncertainties on their financial condition.
The failure or inability of these operators to pay their obligations could materially reduce our revenues, net income and cash flows, which could in turn reduce the amount of cash available for the payment of dividends, cause our stock price to decline and cause us to incur impairment charges or a loss on the sale of the properties.
One of our hospitals located in Tarzana, California is operated by Tenet and is affected by State of California Senate Bill 1953, which requires certain seismic safety building standards for acute care hospital facilities.
See “Government Regulation—California Senate Bill 1953” for more information.
Medical Office 2016 and 2015 Results as of and for the years ended December 31, 2016 and 2015 (dollars and sq.
ft.  in thousands, except per sq.
ft.  data):
## Table 2 ##
SPP.
SPP NOI and adjusted NOI increased primarily as a result of increased occupancy.
Additionally, SPP adjusted NOI increased as a result of annual rent escalations.
Non-SPP.
Non-SPP NOI and adjusted NOI increased primarily as a result of increased occupancy in former redevelopment and development properties that have been placed into operations and additional NOI from our MOB acquisitions in 2015 and 2016, partially offset by the sale of three MOBs.
Total Portfolio.
NOI and adjusted NOI increased based on the combined increases to SPP and non-SPP discussed above.
During the year ended December 31, 2016, 2.4 million square feet of new and renewal leases commenced at an average annual base rent of $22.96 per square foot, including 211,000 square feet related to developments and redevelopments placed into service at an average annual base rent of $24.62, compared to 2.1 million square feet of expiring and terminated leases with an average annual base rent of $23.19 per square foot.
During the year ended December 31, 2016, we acquired properties with 897,000 square feet with an average annual base rent of $14.70 per square foot, including 756,000 square feet with a triple-net annual base rent of $13.00 per sq

<table><tr><td> Year</td><td> Triple-net Leased</td><td> Operating Properties</td><td> Total</td></tr><tr><td>2006</td><td>$4,903</td><td>$10,299</td><td>$15,202</td></tr><tr><td>2007</td><td>8,106</td><td>12,700</td><td>20,806</td></tr><tr><td>2008</td><td>17,068</td><td>20,304</td><td>37,372</td></tr><tr><td>2009</td><td>50,643</td><td>15,133</td><td>65,776</td></tr><tr><td>2010</td><td>16,268</td><td>12,568</td><td>28,836</td></tr><tr><td>Thereafter</td><td>207,607</td><td>35,759</td><td>243,366</td></tr><tr><td>Total</td><td>$304,605</td><td>$106,753</td><td>$411,358</td></tr></table>
<table><tr><td> Operators</td><td> Facilities</td><td> Investment-1</td><td> Percentage of Revenue-2</td></tr><tr><td>Sunrise Senior Living (NYSE:SRZ) (“Sunrise”)</td><td>106</td><td>$2,245,673</td><td>5%</td></tr><tr><td>Brookdale Senior Living Inc. (NYSE:BKD) (“Brookdale”)</td><td>23</td><td>668,637</td><td>8</td></tr><tr><td>Tenet Healthcare Corporation (NYSE:THC) (“Tenet”)</td><td>8</td><td>423,497</td><td>9</td></tr><tr><td>Summerville Healthcare Group (“Summerville”)</td><td>31</td><td>274,842</td><td>4</td></tr><tr><td>Emeritus Corporation (AMEX:ESC) (“Emeritus”)</td><td>36</td><td>245,676</td><td>5</td></tr></table>
<table><tr><td></td><td colspan="3">SPP</td><td colspan="3">Total Portfolio</td></tr><tr><td></td><td>2016</td><td>2015</td><td>Change</td><td>2016</td><td>2015</td><td>Change</td></tr><tr><td>Rental revenues-1</td><td>$376,346</td><td>$367,804</td><td>$8,542</td><td>$446,280</td><td>$415,351</td><td>$30,929</td></tr><tr><td>HCP share of unconsolidated JV revenues</td><td>1,876</td><td>1,834</td><td>42</td><td>1,996</td><td>1,870</td><td>126</td></tr><tr><td>Operating expenses</td><td>-141,897</td><td>-138,130</td><td>-3,767</td><td>-173,687</td><td>-162,054</td><td>-11,633</td></tr><tr><td>HCP share of unconsolidated JV share of operating expenses</td><td>-595</td><td>-612</td><td>17</td><td>-595</td><td>-612</td><td>17</td></tr><tr><td>NOI</td><td>235,730</td><td>230,896</td><td>4,834</td><td>273,994</td><td>254,555</td><td>19,439</td></tr><tr><td>Non-cash adjustments to NOI</td><td>-463</td><td>-2,381</td><td>1,918</td><td>-3,557</td><td>-4,933</td><td>1,376</td></tr><tr><td>Adjusted NOI</td><td>$235,267</td><td>$228,515</td><td>$6,752</td><td>270,437</td><td>249,622</td><td>20,815</td></tr><tr><td>Non-SPP adjusted NOI</td><td></td><td></td><td></td><td>-35,170</td><td>-21,107</td><td>-14,063</td></tr><tr><td>SPP adjusted NOI</td><td></td><td></td><td></td><td>$235,267</td><td>$228,515</td><td>$6,752</td></tr><tr><td>Adjusted NOI % change</td><td></td><td></td><td>3.0%</td><td></td><td></td><td></td></tr><tr><td>Property count-2</td><td>203</td><td>203</td><td></td><td>239</td><td>227</td><td></td></tr><tr><td>Average occupancy</td><td>91.9%</td><td>91.6%</td><td></td><td>91.5%</td><td>90.7%</td><td></td></tr><tr><td>Average occupied sq. ft.</td><td>13,079</td><td>13,008</td><td></td><td>15,800</td><td>14,778</td><td></td></tr><tr><td>Average annual total revenues per occupied sq. ft.</td><td>$29</td><td>$28</td><td></td><td>$28</td><td>$28</td><td></td></tr><tr><td>Average annual rental revenues per occupied sq. ft.</td><td>$24</td><td>$23</td><td></td><td>$24</td><td>$23</td><td></td></tr></table>

Question: What is the ratio of NOI to the total Amount in 2015 for SPP?
Answer: 0.33552